1 00:00:00,040 --> 00:00:03,600 Speaker 1: An illegal alien from Guatemala charged with raping a child 2 00:00:03,680 --> 00:00:07,480 Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador 3 00:00:07,720 --> 00:00:11,840 Speaker 1: accused of murdering a Texas man of Venezuelan charged with 4 00:00:11,920 --> 00:00:15,840 Speaker 1: filming and selling child pornography in Michigan. These are just 5 00:00:15,920 --> 00:00:19,680 Speaker 1: some of the heinous migrant criminals caught because of President 6 00:00:19,720 --> 00:00:20,159 Speaker 1: Donald J. 7 00:00:20,239 --> 00:00:21,200 Speaker 2: Trump's leadership. 8 00:00:21,480 --> 00:00:25,079 Speaker 1: I'm Christy nom the United States Secretary of Homeland Security. 9 00:00:25,440 --> 00:00:29,200 Speaker 1: Under President Trump, attempted illegal border crossings are at the 10 00:00:29,240 --> 00:00:33,080 Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal 11 00:00:33,120 --> 00:00:36,920 Speaker 1: aliens have been arrested. If you are here illegally, your 12 00:00:37,040 --> 00:00:41,160 Speaker 1: next you will be fined nearly one thousand dollars a day, imprisoned, 13 00:00:41,479 --> 00:00:42,160 Speaker 1: and deported. 14 00:00:42,600 --> 00:00:43,800 Speaker 2: You will never return. 15 00:00:44,120 --> 00:00:47,120 Speaker 1: But if you register using our CBP home app and 16 00:00:47,240 --> 00:00:50,120 Speaker 1: leave now, you could be allowed to return legally. 17 00:00:50,479 --> 00:00:52,720 Speaker 2: Do what's right. Leave now. 18 00:00:53,040 --> 00:00:57,840 Speaker 1: Under President Trump, America's laws, border and families will be protected. 19 00:00:57,920 --> 00:01:00,000 Speaker 3: Sponsored by the United States Department of Homeland Security. 20 00:01:00,280 --> 00:01:03,800 Speaker 4: All right, guys, welcome back U I L We're back 21 00:01:03,840 --> 00:01:09,040 Speaker 4: home in the headquarters and we have a very interesting conversation. 22 00:01:09,200 --> 00:01:12,600 Speaker 4: You know, anytime that we get to talk to entrepreneurs, investors, 23 00:01:13,000 --> 00:01:16,959 Speaker 4: it's always insightful. But today we have Arlen Hamilton, found 24 00:01:17,000 --> 00:01:22,680 Speaker 4: of Backstage Capital and investor in diverse founders so venture capital, right, 25 00:01:23,080 --> 00:01:25,920 Speaker 4: So VC is something that we've been talking a lot 26 00:01:26,000 --> 00:01:29,760 Speaker 4: about recently as far as they're not being a lot 27 00:01:29,800 --> 00:01:34,840 Speaker 4: of black vcs firms and how little of the VC 28 00:01:35,120 --> 00:01:38,880 Speaker 4: and private equity capital goes to black founders. I think 29 00:01:38,959 --> 00:01:44,039 Speaker 4: it's like one point five percent goes to women and 30 00:01:44,120 --> 00:01:48,080 Speaker 4: minorities combined every single person, So I would assume that 31 00:01:48,120 --> 00:01:50,920 Speaker 4: black people will probably get way less than that, right, 32 00:01:51,000 --> 00:01:54,920 Speaker 4: So literally fighting for crumbs in the billion dollar industry 33 00:01:54,920 --> 00:01:57,320 Speaker 4: when it comes to venture capital and private equity. So 34 00:01:57,640 --> 00:02:00,200 Speaker 4: there's obviously a lot of issues with that. Then you're 35 00:02:00,200 --> 00:02:04,720 Speaker 4: also an author, you have a podcast called Your First Million, right, 36 00:02:04,920 --> 00:02:11,080 Speaker 4: and really just champing you know, the tech industry and 37 00:02:11,480 --> 00:02:14,639 Speaker 4: the VC side, startups and entrepreneurship. So I'm sure there's 38 00:02:14,639 --> 00:02:16,560 Speaker 4: a lot of things to talk about. So thank you 39 00:02:16,560 --> 00:02:17,840 Speaker 4: for joining us, appreciate. 40 00:02:17,480 --> 00:02:18,360 Speaker 5: It, thanks for having me. 41 00:02:18,440 --> 00:02:20,200 Speaker 6: I also thought you was gonna say it's about Damn Town. 42 00:02:20,400 --> 00:02:22,240 Speaker 6: Oh yeah, I thought I thought he's gonna go there 43 00:02:22,560 --> 00:02:25,600 Speaker 6: first book. But it's about the time we've been we've 44 00:02:25,600 --> 00:02:28,040 Speaker 6: been seeing and running to each other throughout the years. 45 00:02:28,080 --> 00:02:31,680 Speaker 6: Watching you has been incredible. Watching your Instagram has been 46 00:02:31,760 --> 00:02:34,440 Speaker 6: even more fulfilling. Uh, And I love it. I love 47 00:02:34,800 --> 00:02:38,160 Speaker 6: the initiative, a thousand new millionaires. I feel like, you know, 48 00:02:38,400 --> 00:02:41,000 Speaker 6: there's a new class. And we talked about it, you know, 49 00:02:41,120 --> 00:02:44,519 Speaker 6: numerous times, about this financial revolution and everybody that's doing 50 00:02:44,560 --> 00:02:46,720 Speaker 6: the work and everybody doing that part. So I just 51 00:02:46,720 --> 00:02:48,399 Speaker 6: want to let you know that we're watching the work, 52 00:02:49,160 --> 00:02:51,720 Speaker 6: We've been studying the work, and we salute you and 53 00:02:51,720 --> 00:02:53,160 Speaker 6: everything you've done. So thank you for being here. 54 00:02:53,200 --> 00:02:54,360 Speaker 5: I appreciate that. Thank you. 55 00:02:55,240 --> 00:02:57,960 Speaker 4: So let's where does this start for you? So we 56 00:02:58,040 --> 00:03:01,760 Speaker 4: talked about the things that you're currently doing, but where 57 00:03:01,800 --> 00:03:04,239 Speaker 4: does the journey begin and specifically, how do you get 58 00:03:04,240 --> 00:03:05,840 Speaker 4: into VC world. 59 00:03:05,919 --> 00:03:10,880 Speaker 5: Yeah, I'll take you back about a decade ago, about 60 00:03:10,919 --> 00:03:12,800 Speaker 5: eight and a half years ago. I was sleeping on 61 00:03:12,840 --> 00:03:15,519 Speaker 5: the floor of the San Francisco airport. That was where 62 00:03:15,520 --> 00:03:19,120 Speaker 5: I lived, was at the airport. And it wasn't because 63 00:03:19,120 --> 00:03:21,400 Speaker 5: I was tryna, like you know, I was being cue. 64 00:03:21,440 --> 00:03:23,639 Speaker 5: I put my stuff in storage and was going after 65 00:03:23,680 --> 00:03:25,560 Speaker 5: the dream. It was because I didn't have anywhere to live. 66 00:03:25,880 --> 00:03:28,880 Speaker 5: It was the safest place I could think of originally 67 00:03:28,880 --> 00:03:32,520 Speaker 5: from Dallas, Texas, born in Jackson, Mississippi, but raised in Dallas, Texas. 68 00:03:32,560 --> 00:03:36,320 Speaker 5: Consider that my home. I live in LA But at 69 00:03:36,360 --> 00:03:40,000 Speaker 5: this point I had been in mostly in Parland, Texas, 70 00:03:40,080 --> 00:03:42,400 Speaker 5: right outside of right as a part of Houston, and 71 00:03:42,440 --> 00:03:45,640 Speaker 5: then I made my way to San Francisco to be 72 00:03:45,800 --> 00:03:50,720 Speaker 5: in Silicon Valley. But I at that time was was broke, 73 00:03:50,840 --> 00:03:53,720 Speaker 5: as they say, the technical phrase for it is broke 74 00:03:54,280 --> 00:03:58,920 Speaker 5: and before that, so the reason I got into it, 75 00:03:58,920 --> 00:04:01,280 Speaker 5: and I'll tell you like if you fast forward today, 76 00:04:01,560 --> 00:04:03,960 Speaker 5: so nobody feels sorry for me. I've invested in more 77 00:04:03,960 --> 00:04:08,960 Speaker 5: than two hundred companies led by underrepresented underestimated founders. We 78 00:04:09,000 --> 00:04:12,400 Speaker 5: have the largest portfolio in the country by number of 79 00:04:12,640 --> 00:04:17,200 Speaker 5: portfolio founders when it comes to diversity. And I personally 80 00:04:17,200 --> 00:04:20,320 Speaker 5: invested in thirty different venture funds that are led by 81 00:04:20,640 --> 00:04:25,880 Speaker 5: women and BIPOC founders or general partners that were started 82 00:04:25,920 --> 00:04:29,080 Speaker 5: after backstage capital my fund started, so we have inspired 83 00:04:29,120 --> 00:04:33,839 Speaker 5: that as well. But it was probably twenty eleven twenty 84 00:04:34,040 --> 00:04:39,320 Speaker 5: twelve where I was early thirties, still broke, and this 85 00:04:39,360 --> 00:04:43,000 Speaker 5: is before the San Francisco and I had figured out 86 00:04:43,760 --> 00:04:47,080 Speaker 5: what a startup was because I'd seen people like Troy Carter, 87 00:04:47,240 --> 00:04:54,120 Speaker 5: Lady Gaga's managers, a black man, Yeah yeah, Justin Bieber 88 00:04:54,240 --> 00:04:57,760 Speaker 5: and Ellen DeGeneres and Ashton Kutcher. They were all making 89 00:04:57,760 --> 00:05:00,880 Speaker 5: these small investments in a place called Slicon Valley and 90 00:05:00,920 --> 00:05:03,440 Speaker 5: they had stickers and shirts they were wearing, and I 91 00:05:03,520 --> 00:05:05,960 Speaker 5: was like, what is that? So I was interested in it, 92 00:05:06,480 --> 00:05:08,919 Speaker 5: and I had been on the road actually with musicians 93 00:05:09,520 --> 00:05:11,039 Speaker 5: at that point. It was a whole another story. But 94 00:05:11,480 --> 00:05:14,600 Speaker 5: I was seeing them make investments like ce Lo and 95 00:05:14,760 --> 00:05:18,960 Speaker 5: Tony Braxton and a few others, and I said, oh, okay, 96 00:05:19,000 --> 00:05:23,640 Speaker 5: these are my people, like Silicon Valley startups, entrepreneurs, that's 97 00:05:23,920 --> 00:05:25,640 Speaker 5: what I am. I just never knew what to call it. 98 00:05:26,000 --> 00:05:28,560 Speaker 5: I didn't know I was a founder. And I also 99 00:05:28,560 --> 00:05:32,800 Speaker 5: saw people like what like Brian Chesky from Airbnb and 100 00:05:32,920 --> 00:05:34,840 Speaker 5: Richard Brandson, of course I knew for a long time, 101 00:05:34,960 --> 00:05:38,440 Speaker 5: knew of And I was like, that resonates with me. 102 00:05:38,640 --> 00:05:40,839 Speaker 5: That's what I feel like. I'm sure y'all can relate 103 00:05:40,839 --> 00:05:43,440 Speaker 5: to that. You feel like this entrepreneurial spirit just never 104 00:05:43,480 --> 00:05:45,160 Speaker 5: had a name for it. And so I said, I'm 105 00:05:45,160 --> 00:05:47,200 Speaker 5: go out and raise a million dollars because that's what 106 00:05:47,240 --> 00:05:49,800 Speaker 5: you're supposed to do. So I started researching how do 107 00:05:49,839 --> 00:05:53,680 Speaker 5: you raise a million dollars for a tech company? And 108 00:05:53,720 --> 00:05:55,760 Speaker 5: that's when I found out that less than ten percent 109 00:05:55,839 --> 00:05:59,080 Speaker 5: of all venture funding in the United States goes to women, 110 00:05:59,160 --> 00:06:02,120 Speaker 5: people of color, GBTQ plus I identify as all three, 111 00:06:02,600 --> 00:06:04,960 Speaker 5: and so I said, that doesn't make any sense when 112 00:06:05,000 --> 00:06:07,080 Speaker 5: white men make up only thirty percent of the country, 113 00:06:07,080 --> 00:06:09,919 Speaker 5: they're getting ninety percent of the funding. So instead of 114 00:06:09,960 --> 00:06:13,360 Speaker 5: raising a million dollars for fuck my company, I said, 115 00:06:13,360 --> 00:06:15,960 Speaker 5: what if I could raise a million dollars and invest 116 00:06:16,000 --> 00:06:19,640 Speaker 5: it in those three categories and what would that do? 117 00:06:19,920 --> 00:06:22,760 Speaker 5: And what if I could build that over time? So 118 00:06:22,800 --> 00:06:25,080 Speaker 5: I set out for several years to try to do that, 119 00:06:26,000 --> 00:06:30,000 Speaker 5: didn't get any traction, but then fast forward to sleeping 120 00:06:30,000 --> 00:06:32,520 Speaker 5: on the floor of the airport, making mice way to 121 00:06:32,640 --> 00:06:36,040 Speaker 5: Silicon Valley, knocking on doors, finally getting that first investment, 122 00:06:36,160 --> 00:06:37,279 Speaker 5: and then I went from there. 123 00:06:37,760 --> 00:06:40,599 Speaker 6: What was that that that process? Like, right, so you're 124 00:06:40,960 --> 00:06:43,120 Speaker 6: sleeping on the floors. In my mind, I'm thinking of a 125 00:06:43,160 --> 00:06:44,040 Speaker 6: suit of happiness, but this. 126 00:06:44,000 --> 00:06:47,159 Speaker 5: Is well, actually, yeah, right, So that's I mean. Queen 127 00:06:47,200 --> 00:06:49,039 Speaker 5: Lativa said the same, like the same thing that. 128 00:06:49,400 --> 00:06:52,280 Speaker 6: I mean That's the story, right, just that hunger and 129 00:06:52,279 --> 00:06:55,560 Speaker 6: that belief of I'm going to make it. I'm going 130 00:06:55,600 --> 00:06:57,479 Speaker 6: to figure this thing out. Yeah, I mean there's a 131 00:06:57,480 --> 00:06:59,000 Speaker 6: certain level of character that you have to have and 132 00:06:59,080 --> 00:07:01,800 Speaker 6: integrity as you have to continue to pursue it. But 133 00:07:02,200 --> 00:07:04,640 Speaker 6: how did you get the first investment? Did you even 134 00:07:04,720 --> 00:07:08,320 Speaker 6: know how to pitch? Did you like networking while you 135 00:07:08,360 --> 00:07:10,160 Speaker 6: were going to and from the right. 136 00:07:10,240 --> 00:07:13,520 Speaker 5: So two things that I did while I was broke 137 00:07:13,640 --> 00:07:16,360 Speaker 5: hungry that I encourage every entrepreneur to do no matter 138 00:07:16,360 --> 00:07:20,360 Speaker 5: where they are, is I kept up with my customer 139 00:07:20,520 --> 00:07:22,160 Speaker 5: or my would be customer, and my customer is the 140 00:07:22,240 --> 00:07:24,760 Speaker 5: entrepreneur because I'm gonna be investing in them. And I 141 00:07:24,800 --> 00:07:27,800 Speaker 5: also learned every single day, because there came a point 142 00:07:27,800 --> 00:07:30,280 Speaker 5: where I was like, I can't control what's going on 143 00:07:30,320 --> 00:07:32,040 Speaker 5: in my life. It's been like this my whole life. 144 00:07:32,080 --> 00:07:35,520 Speaker 5: In one way or another. I can't control. I'm so down, 145 00:07:35,600 --> 00:07:37,920 Speaker 5: you know. But what I can control, like I can 146 00:07:38,000 --> 00:07:39,720 Speaker 5: control if we I'm going to sleep, can't control where 147 00:07:39,720 --> 00:07:42,080 Speaker 5: I'm gonna eat necessarily, but I can't control if I 148 00:07:42,160 --> 00:07:45,720 Speaker 5: learned something new today, And so I made sure to 149 00:07:45,840 --> 00:07:48,440 Speaker 5: do that. So I call it being money because money 150 00:07:48,480 --> 00:07:50,200 Speaker 5: attracts money, but what if you don't have it, you 151 00:07:50,240 --> 00:07:54,840 Speaker 5: become it. So I learned so much that I knew 152 00:07:54,920 --> 00:07:58,000 Speaker 5: how to talk to investors and I because I studied it. 153 00:07:58,200 --> 00:08:00,520 Speaker 5: And then when I the reason the first invent said 154 00:08:00,640 --> 00:08:07,080 Speaker 5: yes was because I had more information than she had money, essentially, right, 155 00:08:07,120 --> 00:08:09,440 Speaker 5: So she had a lot of money and I had 156 00:08:09,440 --> 00:08:12,520 Speaker 5: a lot of information, and I could help teach her, 157 00:08:12,560 --> 00:08:14,600 Speaker 5: like we would sit on the bench at this class 158 00:08:14,640 --> 00:08:16,120 Speaker 5: we were in and we would I would just teach 159 00:08:16,120 --> 00:08:18,160 Speaker 5: her like, this is how you do due diligence on 160 00:08:18,200 --> 00:08:20,600 Speaker 5: a company, this is what you look for. And I 161 00:08:21,120 --> 00:08:22,880 Speaker 5: was homeless at the time. She just didn't know it. 162 00:08:23,480 --> 00:08:25,840 Speaker 5: So she had this money and she wanted to do 163 00:08:25,920 --> 00:08:27,760 Speaker 5: something in the world. She wanted to invest, but she 164 00:08:27,800 --> 00:08:30,120 Speaker 5: didn't know exactly how. So then when I taught her, 165 00:08:30,760 --> 00:08:33,760 Speaker 5: she said, Okay, let me actually back you. You go out 166 00:08:33,800 --> 00:08:36,160 Speaker 5: and find the companies and let's see what that becomes. 167 00:08:37,080 --> 00:08:40,760 Speaker 4: So as far as what was the first investment. 168 00:08:40,320 --> 00:08:42,199 Speaker 5: That you made, the very first investment I made was 169 00:08:42,240 --> 00:08:45,000 Speaker 5: in a company called Cairos out of Miami. It was 170 00:08:45,040 --> 00:08:48,920 Speaker 5: a facial and emotion recognition company. This is two hundred 171 00:08:48,920 --> 00:08:51,199 Speaker 5: companies back so I had to think about it. And 172 00:08:51,840 --> 00:08:56,040 Speaker 5: Brian Brackeen is the founder, black man who came from 173 00:08:56,080 --> 00:08:58,920 Speaker 5: Silicon Valley but wanted to go back to Florida to 174 00:08:59,000 --> 00:09:01,320 Speaker 5: build this company. Put his own two hundred and fifty 175 00:09:01,360 --> 00:09:04,120 Speaker 5: thousand dollars into the company, was working on deep tech 176 00:09:04,400 --> 00:09:06,800 Speaker 5: and AI at at a time when most people weren't 177 00:09:06,800 --> 00:09:09,720 Speaker 5: talking about it, could not get investors, and I just 178 00:09:09,920 --> 00:09:12,400 Speaker 5: happened to find him on a YouTube video talking about it, 179 00:09:13,000 --> 00:09:14,880 Speaker 5: and so we worked together before I had money, and 180 00:09:14,920 --> 00:09:17,079 Speaker 5: then I you know, wired him as soon as I 181 00:09:17,080 --> 00:09:20,720 Speaker 5: had a twenty five thousand dollars. He went on to 182 00:09:20,800 --> 00:09:25,840 Speaker 5: have his mostly whiteboard push him out after a few years, 183 00:09:25,920 --> 00:09:27,719 Speaker 5: and they thought that that was going to be the 184 00:09:27,840 --> 00:09:31,360 Speaker 5: end of it. He turned around. He built a fifty 185 00:09:31,400 --> 00:09:35,200 Speaker 5: plus million dollar venture fund to invest in people like himself, 186 00:09:35,720 --> 00:09:37,719 Speaker 5: which I became one of the first investors in that. 187 00:09:38,320 --> 00:09:41,640 Speaker 5: And then and now he has, you know, an incredible 188 00:09:41,679 --> 00:09:48,040 Speaker 5: sprawling empire essentially in Cincinnati and in Saint Louis for 189 00:09:48,080 --> 00:09:49,280 Speaker 5: black and brown founders. 190 00:09:49,320 --> 00:09:53,079 Speaker 6: The first investment twenty fifteen, bas Stage Capital is founded. 191 00:09:53,160 --> 00:09:53,679 Speaker 5: That's right. 192 00:09:53,840 --> 00:09:55,360 Speaker 6: The first investment happens when. 193 00:09:56,000 --> 00:09:58,440 Speaker 5: A couple of days later, like right, yeah, right, because 194 00:09:58,440 --> 00:10:00,640 Speaker 5: I had been working with founders right, like I kept 195 00:10:00,679 --> 00:10:03,000 Speaker 5: up with my customer, I kept so I knew the 196 00:10:03,120 --> 00:10:05,240 Speaker 5: cue that I wanted to invest in. I was just 197 00:10:05,280 --> 00:10:07,840 Speaker 5: missing out. Every few weeks it was like, oh, you know, 198 00:10:07,920 --> 00:10:09,319 Speaker 5: the opportunity was gone. 199 00:10:09,360 --> 00:10:12,640 Speaker 6: So how are you? How are you finding founders to 200 00:10:12,760 --> 00:10:14,600 Speaker 6: invest in? I know you said YouTube was a video. 201 00:10:14,679 --> 00:10:18,360 Speaker 6: Were you looking at incubators? Where you're looking at hy Combinator, 202 00:10:18,360 --> 00:10:21,440 Speaker 6: all these things resources and not how are you figuring 203 00:10:21,480 --> 00:10:23,800 Speaker 6: out which people and where they were acting to invest in? 204 00:10:23,880 --> 00:10:26,120 Speaker 5: So although I knew Sam Altman at the time because 205 00:10:26,160 --> 00:10:28,320 Speaker 5: I found my way to him, I was not looking 206 00:10:28,360 --> 00:10:31,160 Speaker 5: at why Combinator because y Combinator was not looking for us. 207 00:10:31,360 --> 00:10:33,400 Speaker 5: So I was not looking at I was looking at 208 00:10:33,600 --> 00:10:36,319 Speaker 5: Like when I was in Parland, I went to different 209 00:10:36,400 --> 00:10:41,079 Speaker 5: places where it would be mostly white founders, but you 210 00:10:41,120 --> 00:10:43,640 Speaker 5: would find the women. You would find the people of 211 00:10:43,679 --> 00:10:45,600 Speaker 5: color who were the only ones in the room, and 212 00:10:45,640 --> 00:10:48,640 Speaker 5: I would work with them if I found something online, 213 00:10:48,679 --> 00:10:50,640 Speaker 5: if I read the right article at the right time, 214 00:10:50,800 --> 00:10:53,200 Speaker 5: and I would just reach out to them early, early, 215 00:10:53,280 --> 00:10:56,040 Speaker 5: early and just offer to help. Can I help brainstorm 216 00:10:56,080 --> 00:10:58,080 Speaker 5: with you? Can I help make some introductions even though 217 00:10:58,120 --> 00:11:00,360 Speaker 5: they weren't. You know, my networks so different now. But 218 00:11:00,400 --> 00:11:02,160 Speaker 5: it was like I would make an introduction to maybe 219 00:11:02,200 --> 00:11:05,080 Speaker 5: some press if I could find the email address. I 220 00:11:05,120 --> 00:11:07,199 Speaker 5: was just trying to be valuable to them. So they 221 00:11:07,200 --> 00:11:10,320 Speaker 5: would then tell their friends who were starting companies, and 222 00:11:10,360 --> 00:11:12,199 Speaker 5: I would look through the companies and say, this one 223 00:11:12,200 --> 00:11:14,720 Speaker 5: has potential to let me really see if I can 224 00:11:14,760 --> 00:11:15,959 Speaker 5: help before I have the money. 225 00:11:17,120 --> 00:11:20,200 Speaker 4: So when you really start to hit your stride and 226 00:11:20,320 --> 00:11:21,920 Speaker 4: start to take off in the VC. 227 00:11:21,679 --> 00:11:25,319 Speaker 5: World, I think so. I had a viral medium post 228 00:11:25,320 --> 00:11:27,360 Speaker 5: in twenty fifteen, actually while I was still living at 229 00:11:27,360 --> 00:11:31,079 Speaker 5: the airport before the first investment, called dear White Venture Capitalists. 230 00:11:31,160 --> 00:11:33,680 Speaker 4: So why let's talk about this a little bit. Why 231 00:11:33,679 --> 00:11:37,199 Speaker 4: were you homeless? Because you obviously you went to Silicon 232 00:11:37,280 --> 00:11:40,120 Speaker 4: Valley for a reason, so you're educated enough to understand 233 00:11:40,120 --> 00:11:42,760 Speaker 4: the dynamics of what's going on. So I think it's 234 00:11:42,760 --> 00:11:44,320 Speaker 4: important to speak about that. A lot of time people 235 00:11:44,320 --> 00:11:47,319 Speaker 4: look at homeless people and they think that if you're homeless, 236 00:11:47,320 --> 00:11:51,080 Speaker 4: you're on drugs, you have a mental illness, you're lazy, 237 00:11:51,200 --> 00:11:55,240 Speaker 4: you don't want to work, or it's just very uneducated 238 00:11:55,320 --> 00:11:57,480 Speaker 4: and kind of you know, they don't look at somebody 239 00:11:57,559 --> 00:11:59,720 Speaker 4: that can actually be like, it can. 240 00:11:59,600 --> 00:12:01,439 Speaker 5: Happen to you, right, Yeah, you're right. 241 00:12:01,520 --> 00:12:03,560 Speaker 4: You could be educated, you could go to college and 242 00:12:03,559 --> 00:12:05,480 Speaker 4: then a couple of things happen and then before you know, 243 00:12:05,559 --> 00:12:08,240 Speaker 4: you're homely. So you talk about your like, how did 244 00:12:08,320 --> 00:12:09,679 Speaker 4: you end up in that point? 245 00:12:09,760 --> 00:12:12,320 Speaker 5: I had never, like many of us, I had never 246 00:12:12,480 --> 00:12:17,560 Speaker 5: really learned about finances as a child. And I know 247 00:12:17,640 --> 00:12:19,760 Speaker 5: that's not the case for y'all, but that's y'all are teachers, right, 248 00:12:19,880 --> 00:12:22,360 Speaker 5: y'all are teaching at other people, but many in your 249 00:12:22,400 --> 00:12:25,720 Speaker 5: audience wouldn't have. And so my mom is an amazing person, 250 00:12:25,960 --> 00:12:28,840 Speaker 5: but she just didn't know how to make ends meet. 251 00:12:29,280 --> 00:12:31,320 Speaker 5: She had like two or three jobs and it was 252 00:12:31,400 --> 00:12:33,880 Speaker 5: just never working out. So I kind of went out 253 00:12:33,920 --> 00:12:36,440 Speaker 5: of that again, like a lot of black households, my 254 00:12:36,520 --> 00:12:38,440 Speaker 5: credit was not right as soon as I was eighteen 255 00:12:38,480 --> 00:12:41,040 Speaker 5: because it was used by different people and the family, 256 00:12:41,480 --> 00:12:44,280 Speaker 5: you know, do the thing, and so I kind of 257 00:12:44,440 --> 00:12:46,960 Speaker 5: just started. I was just never ahead of the game. 258 00:12:47,480 --> 00:12:52,160 Speaker 5: And on top of that, I'm highly unemployable because I 259 00:12:52,200 --> 00:12:54,520 Speaker 5: would go and work places and I would have like, 260 00:12:54,640 --> 00:12:56,800 Speaker 5: you know, seven dollars job, and I would be telling 261 00:12:56,880 --> 00:13:00,960 Speaker 5: the owner what to do, because that's how I saw it. 262 00:13:01,000 --> 00:13:02,400 Speaker 5: I was like, you know, you could really put this 263 00:13:02,480 --> 00:13:04,040 Speaker 5: over here and then more people would see it, and 264 00:13:04,120 --> 00:13:06,520 Speaker 5: da da da da da, And so I got into 265 00:13:06,520 --> 00:13:09,280 Speaker 5: a lot of arguments that fights with people. At the 266 00:13:09,320 --> 00:13:12,040 Speaker 5: same time, I also didn't have a wardrobe. Now I 267 00:13:12,040 --> 00:13:15,920 Speaker 5: still don't, but people don't care when you have receipts, right, 268 00:13:16,240 --> 00:13:18,360 Speaker 5: So I didn't have a wardrobe to go and like 269 00:13:18,400 --> 00:13:20,000 Speaker 5: I could type one hundred words a minute and I 270 00:13:20,040 --> 00:13:22,680 Speaker 5: could go and get like these temporary data entry jobs, 271 00:13:23,400 --> 00:13:25,199 Speaker 5: but I would wear the same thing, almost the same 272 00:13:25,240 --> 00:13:27,720 Speaker 5: thing every day or you know, same shoes for seven years. 273 00:13:27,880 --> 00:13:29,360 Speaker 5: So it was a lot of that and just not 274 00:13:29,520 --> 00:13:33,760 Speaker 5: getting out of it and also having this entrepreneurial spirit 275 00:13:34,120 --> 00:13:36,640 Speaker 5: whereas I always trying something in the lab I was selling. 276 00:13:36,800 --> 00:13:39,600 Speaker 5: I sold like thousands of T shirts in my twenties, 277 00:13:39,800 --> 00:13:42,080 Speaker 5: but I never made any profit because I didn't understanding 278 00:13:42,120 --> 00:13:45,400 Speaker 5: in economics. So I had a lot of potential and 279 00:13:45,760 --> 00:13:49,199 Speaker 5: I was really really bright, but I didn't have that 280 00:13:49,960 --> 00:13:54,680 Speaker 5: you know, that right path. That's why it's so important 281 00:13:54,720 --> 00:13:58,120 Speaker 5: to me today to provide that path for people, not 282 00:13:58,320 --> 00:14:00,880 Speaker 5: just about investing in people, because it's not about going 283 00:14:00,880 --> 00:14:03,360 Speaker 5: out and just handing money to people. It's about teaching 284 00:14:03,520 --> 00:14:06,480 Speaker 5: a person to fish. How do you get out of that, 285 00:14:06,600 --> 00:14:08,880 Speaker 5: you know, on your own, saving them years of their time. 286 00:14:08,960 --> 00:14:12,080 Speaker 5: So that's where I was. And then I had been 287 00:14:12,120 --> 00:14:15,680 Speaker 5: living actually with my mom in a hotel. She was 288 00:14:15,679 --> 00:14:17,760 Speaker 5: in her sixties at the time. She's seventy four. Now 289 00:14:17,960 --> 00:14:20,600 Speaker 5: I was in my thirties. I was like, I mean, 290 00:14:20,920 --> 00:14:24,400 Speaker 5: it was it was dark, you know, it was not cool. 291 00:14:24,880 --> 00:14:27,120 Speaker 5: And I just sent her back to Mississippi to stay 292 00:14:27,160 --> 00:14:29,760 Speaker 5: with her sister on a couch because I was like, 293 00:14:29,800 --> 00:14:33,400 Speaker 5: I can't watch my mom out here like this. And 294 00:14:33,440 --> 00:14:37,480 Speaker 5: so I went west, sent her east from Texas. And 295 00:14:37,600 --> 00:14:40,800 Speaker 5: that's when I said, like, I'm putting a clock on this. 296 00:14:41,720 --> 00:14:43,520 Speaker 5: There has to be something that happens, because I don't 297 00:14:43,520 --> 00:14:44,840 Speaker 5: know how I'm going to live like this for too 298 00:14:44,920 --> 00:14:45,440 Speaker 5: much longer. 299 00:14:46,320 --> 00:14:50,120 Speaker 6: Yeah. So in terms of I know, you want to 300 00:14:50,160 --> 00:14:54,360 Speaker 6: make sure that underrepresented founders have capital. I wonder what 301 00:14:54,400 --> 00:14:57,880 Speaker 6: the investment philosophy was for you at the beginning, right, 302 00:14:57,960 --> 00:15:00,920 Speaker 6: What were you looking for in founders? It sounds like 303 00:15:01,000 --> 00:15:03,240 Speaker 6: they number one had to be inquisitive, I feel like, 304 00:15:03,480 --> 00:15:04,920 Speaker 6: but they had to have a willingness to learn what 305 00:15:05,280 --> 00:15:07,400 Speaker 6: were the initial things that you were looking at in 306 00:15:07,640 --> 00:15:10,280 Speaker 6: a founder to say this is somebody I think has 307 00:15:10,320 --> 00:15:10,880 Speaker 6: some growth. 308 00:15:11,160 --> 00:15:17,600 Speaker 5: The over arching idea thesis was underrepresented. And we say 309 00:15:17,640 --> 00:15:20,440 Speaker 5: underestimated now because we've coined that phrase at backstage, but 310 00:15:20,560 --> 00:15:22,960 Speaker 5: underrepresented at the time. I was saying, like in my 311 00:15:23,040 --> 00:15:25,920 Speaker 5: pitch deag and when I was talking to investors, we 312 00:15:26,000 --> 00:15:29,240 Speaker 5: have done so much with so little. What happens when 313 00:15:29,280 --> 00:15:32,040 Speaker 5: we have more? That was like the overarching thing. So 314 00:15:32,080 --> 00:15:34,640 Speaker 5: when I was looking at founders, first of all, obviously 315 00:15:34,680 --> 00:15:38,480 Speaker 5: if it's like just the product or service itself was compelling, 316 00:15:38,520 --> 00:15:41,560 Speaker 5: that was something. And then I would look at because 317 00:15:41,600 --> 00:15:45,360 Speaker 5: I can't really I can't really measure them on their traction, 318 00:15:45,600 --> 00:15:47,880 Speaker 5: so to speak, because a lot of them don't have 319 00:15:47,960 --> 00:15:51,720 Speaker 5: the same resources at the time that someone else might have. 320 00:15:52,160 --> 00:15:54,560 Speaker 6: Earners, what's up? You ever want to what's around the 321 00:15:54,560 --> 00:15:57,320 Speaker 6: next corner? What happens if you push just a little further. 322 00:15:57,800 --> 00:16:00,880 Speaker 6: With Nissan SUVs, you're equipped to take your adventure to 323 00:16:01,080 --> 00:16:05,880 Speaker 6: unimagined levels. Imagine the possibilities with a Nissan Rogue, Nissan Pathfinder, 324 00:16:06,040 --> 00:16:09,920 Speaker 6: or Nissan Armada. Go ahead, find your next big adventure, 325 00:16:10,440 --> 00:16:13,440 Speaker 6: and while you're out there exploring the unknown. 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Visit your local NIEE Soign 339 00:17:00,320 --> 00:17:03,360 Speaker 6: dealer or NISSIGANUSA dot com to find out more and 340 00:17:03,440 --> 00:17:05,680 Speaker 6: take the first step into your next adventure. 341 00:17:05,760 --> 00:17:10,000 Speaker 5: Today, I'd say, what have you done with the resources 342 00:17:10,040 --> 00:17:12,159 Speaker 5: you have up until this point before you met me? 343 00:17:12,920 --> 00:17:14,919 Speaker 5: And I would measure it like that, kind of fairly, 344 00:17:15,640 --> 00:17:19,080 Speaker 5: and in that way it became a level playing field 345 00:17:19,119 --> 00:17:21,679 Speaker 5: and a meritocracy because then I can say, oh, well, 346 00:17:21,720 --> 00:17:24,400 Speaker 5: this person I didn't go to college. I certainly got 347 00:17:24,440 --> 00:17:26,560 Speaker 5: into colleges, but I didn't going to college because I 348 00:17:26,560 --> 00:17:30,240 Speaker 5: didn't want to leave my family broke. But I could 349 00:17:30,280 --> 00:17:33,600 Speaker 5: certainly say, oh, this person didn't go to college, but 350 00:17:33,640 --> 00:17:36,080 Speaker 5: they have this all lived experience or there. You know, 351 00:17:36,240 --> 00:17:39,160 Speaker 5: a lot of times it's like for women, they'll get asked, 352 00:17:39,200 --> 00:17:41,719 Speaker 5: like I've seen it happen. They get asked, well, how 353 00:17:41,720 --> 00:17:44,800 Speaker 5: are you going to run your company with the child 354 00:17:44,920 --> 00:17:46,959 Speaker 5: or are you planning on having kids or whatever, And 355 00:17:47,000 --> 00:17:49,280 Speaker 5: I'm like, no, the opposite is true. They're a multitasker. 356 00:17:49,359 --> 00:17:51,440 Speaker 5: They know how to, you know, look at things in 357 00:17:51,480 --> 00:17:53,000 Speaker 5: a different way. They know how to make ends meet. 358 00:17:53,440 --> 00:17:55,160 Speaker 5: So I would just look at things from the point 359 00:17:55,160 --> 00:17:58,960 Speaker 5: of view of the women and the people around me 360 00:18:00,119 --> 00:18:03,159 Speaker 5: who I grew up with, and what their potential really was. 361 00:18:03,720 --> 00:18:06,440 Speaker 6: Because just a follow up, because I'm thinking it's kind 362 00:18:06,480 --> 00:18:08,520 Speaker 6: of double side right, Like it's almost like the interview 363 00:18:08,520 --> 00:18:12,760 Speaker 6: process for you, but also for them because at the 364 00:18:12,760 --> 00:18:16,160 Speaker 6: initial stages you don't have anything that you're invested in either, 365 00:18:16,560 --> 00:18:19,080 Speaker 6: so they figure out how to is this somebody that 366 00:18:19,119 --> 00:18:19,800 Speaker 6: I shouldn't have. 367 00:18:19,760 --> 00:18:21,920 Speaker 5: On the capit well, that's why at the beginning, before 368 00:18:21,920 --> 00:18:24,080 Speaker 5: I had money, I've just made myself valuable to them. 369 00:18:24,480 --> 00:18:26,400 Speaker 5: And then by the time I came around to invest, 370 00:18:26,960 --> 00:18:29,280 Speaker 5: they were running around saying, she has to be somebody 371 00:18:29,280 --> 00:18:30,960 Speaker 5: give her some money because she is finding all these 372 00:18:30,960 --> 00:18:33,679 Speaker 5: great companies and she's so helpful. So I had, like 373 00:18:34,080 --> 00:18:36,680 Speaker 5: it was like a groundswell of support by the time 374 00:18:36,720 --> 00:18:38,639 Speaker 5: I got that first check. And that's how I was 375 00:18:38,680 --> 00:18:42,600 Speaker 5: able to keep going and keep raising because those those 376 00:18:42,840 --> 00:18:47,040 Speaker 5: they called limited partners are LPs. They would reach out 377 00:18:47,600 --> 00:18:50,360 Speaker 5: to some of the founders and say, you know, talk 378 00:18:50,400 --> 00:18:53,960 Speaker 5: to us, you know, backchannel. And I had just a 379 00:18:54,000 --> 00:18:57,160 Speaker 5: reputation for being helpful even when it didn't make sense. 380 00:18:57,200 --> 00:18:59,240 Speaker 5: And there are plenty of times where I could have 381 00:18:59,320 --> 00:19:01,720 Speaker 5: invested if I had the money, but I didn't have 382 00:19:01,760 --> 00:19:04,240 Speaker 5: the money. And those companies have gone on to sell 383 00:19:04,280 --> 00:19:06,960 Speaker 5: to Amazon or do all kinds of crazy stuff. So 384 00:19:07,000 --> 00:19:09,840 Speaker 5: those early days, there's a lot of there are a 385 00:19:09,840 --> 00:19:10,679 Speaker 5: lot of receipts. 386 00:19:11,280 --> 00:19:13,679 Speaker 4: So okay, so let's soap about VC. So what do 387 00:19:13,720 --> 00:19:16,440 Speaker 4: you look for investing in a company? 388 00:19:16,920 --> 00:19:19,320 Speaker 5: So I look for what their product or service is 389 00:19:19,640 --> 00:19:22,159 Speaker 5: just interest because all of it is got at the 390 00:19:22,240 --> 00:19:23,639 Speaker 5: end of the day. Obviously, you can do all this 391 00:19:24,440 --> 00:19:26,720 Speaker 5: projecting and all kinds of modeling, and we do that 392 00:19:26,760 --> 00:19:28,959 Speaker 5: at Backstage Capital. But for me, I go back to 393 00:19:28,960 --> 00:19:31,840 Speaker 5: my roots of you know, I treat a little bit 394 00:19:31,960 --> 00:19:34,600 Speaker 5: like American idol or the voice or something. It's like, 395 00:19:34,600 --> 00:19:36,840 Speaker 5: what is what am I feeling from this? And my 396 00:19:36,920 --> 00:19:40,040 Speaker 5: instincts have been pretty good so far. And then today 397 00:19:40,040 --> 00:19:45,080 Speaker 5: at forty three, I say, can I if I had 398 00:19:45,080 --> 00:19:47,840 Speaker 5: ten years, could I do this on my own? Could 399 00:19:47,880 --> 00:19:51,520 Speaker 5: I do this myself? If the answer is yes, it 400 00:19:51,800 --> 00:19:53,520 Speaker 5: still may be a great company, but it's not as 401 00:19:53,520 --> 00:19:56,720 Speaker 5: compelling to me because time is limited. But if the 402 00:19:56,720 --> 00:19:59,400 Speaker 5: answer is no, I could not personally figure this out 403 00:19:59,400 --> 00:20:01,960 Speaker 5: of my own do it, then I have my attention 404 00:20:02,200 --> 00:20:05,360 Speaker 5: because then I can live vicariously through them. I can 405 00:20:05,440 --> 00:20:07,760 Speaker 5: live through what they do and I can say, Okay, 406 00:20:07,760 --> 00:20:10,640 Speaker 5: that's like a moonshot. That's like a that could change 407 00:20:10,760 --> 00:20:13,679 Speaker 5: the world or change lives. So it doesn't have to 408 00:20:13,680 --> 00:20:16,679 Speaker 5: be an impact company, but it has to be something 409 00:20:16,680 --> 00:20:20,280 Speaker 5: that is so compelling that it would I couldn't personally 410 00:20:20,280 --> 00:20:20,560 Speaker 5: do it. 411 00:20:21,440 --> 00:20:24,199 Speaker 6: What were the emotions like when you as you were 412 00:20:24,240 --> 00:20:27,240 Speaker 6: speaking and knowing that there's a company that you know, 413 00:20:28,119 --> 00:20:32,200 Speaker 6: is going to be one of the substantial pieces of 414 00:20:32,240 --> 00:20:34,680 Speaker 6: the future of the world. Yeah, and you see it 415 00:20:34,680 --> 00:20:36,840 Speaker 6: at the doorset, but you don't have the capital to 416 00:20:36,880 --> 00:20:37,680 Speaker 6: be a part of it. 417 00:20:37,960 --> 00:20:39,200 Speaker 5: I can tell you an example. 418 00:20:39,440 --> 00:20:42,040 Speaker 6: I mean, because and I'm think twenty fifteen, I'm thinking 419 00:20:42,080 --> 00:20:44,280 Speaker 6: the Ubers of the world, the Airbnbs of the world. 420 00:20:44,359 --> 00:20:47,679 Speaker 5: Yeah, you know, I'll tell you an example. Patreon Patreon 421 00:20:47,800 --> 00:20:49,880 Speaker 5: Patreon's words. I don't know how many billions right now. 422 00:20:51,560 --> 00:20:54,640 Speaker 5: I would if there's emails that I have where I'm 423 00:20:54,640 --> 00:20:57,840 Speaker 5: talking to Jack and Sam, the co founders, the first 424 00:20:57,960 --> 00:21:01,399 Speaker 5: day they premiered, and I'm talking and I do what 425 00:21:01,440 --> 00:21:03,520 Speaker 5: I do. I'm writing because I was writing to all 426 00:21:03,600 --> 00:21:06,320 Speaker 5: kinds of founders, mostly black and brown and women. But 427 00:21:06,359 --> 00:21:08,439 Speaker 5: I reach out to them. I said, I love what 428 00:21:08,480 --> 00:21:10,359 Speaker 5: you're doing. I used to be in the live music space. 429 00:21:10,400 --> 00:21:14,560 Speaker 5: I know what this is. It's creator space, you know. 430 00:21:14,720 --> 00:21:16,959 Speaker 5: Let me get you coffee, let me help you connect 431 00:21:16,960 --> 00:21:20,280 Speaker 5: with angel investors, whatever. And they came back. There's email 432 00:21:20,440 --> 00:21:23,080 Speaker 5: thread of this where they're like, cool, thank you, We're 433 00:21:23,119 --> 00:21:25,359 Speaker 5: not looking to it raise right now, but cool. Then 434 00:21:25,359 --> 00:21:28,080 Speaker 5: a week later Sam writes back and he's like, actually, 435 00:21:28,320 --> 00:21:30,640 Speaker 5: Jack does want to raise can you help us raise 436 00:21:30,640 --> 00:21:33,120 Speaker 5: a million dollars? So I go out. I send them 437 00:21:33,119 --> 00:21:35,639 Speaker 5: all these investors because I've been talking to investors who 438 00:21:35,680 --> 00:21:37,440 Speaker 5: weren't investing in me, but I was like, you got 439 00:21:37,440 --> 00:21:40,640 Speaker 5: to look at this. It's like Kickstarter, but it's different, 440 00:21:40,720 --> 00:21:44,680 Speaker 5: you know. And then they talk to the angel investors. 441 00:21:45,119 --> 00:21:48,080 Speaker 5: Then I send them to a top tier venture fund 442 00:21:48,280 --> 00:21:50,879 Speaker 5: that's a very well known venture fun in Silicon Valley. 443 00:21:51,280 --> 00:21:55,520 Speaker 5: Send it to them. The venture fund says it's interesting, 444 00:21:55,560 --> 00:21:58,439 Speaker 5: but it's not that interesting. They say, we love it, 445 00:21:58,480 --> 00:22:00,840 Speaker 5: you know. The company says, yep, please introduce it. So 446 00:22:01,000 --> 00:22:03,360 Speaker 5: I introduce. I introduced them, but it doesn't go anywhere. 447 00:22:03,600 --> 00:22:07,360 Speaker 5: Two months later, I open up or maybe read online 448 00:22:07,640 --> 00:22:12,639 Speaker 5: a Forbes article that VC fund led their round. And 449 00:22:12,720 --> 00:22:15,560 Speaker 5: so since then, honestly, since then, I have been calling 450 00:22:15,560 --> 00:22:20,439 Speaker 5: them out publicly, and I've been saying either the venture 451 00:22:20,480 --> 00:22:24,520 Speaker 5: fund CRV, I'll say, who was Charles Rivers CRV, I'll 452 00:22:24,560 --> 00:22:28,879 Speaker 5: say it right to them. Or Patreon should do the 453 00:22:28,960 --> 00:22:34,120 Speaker 5: right thing. And there's things called scouting fees and finders 454 00:22:34,119 --> 00:22:37,760 Speaker 5: fee like that kind of thing. They should, I believe, 455 00:22:37,840 --> 00:22:41,080 Speaker 5: give Backstage Capital, my venture fund, they should give them. 456 00:22:41,359 --> 00:22:46,560 Speaker 5: Give the fund itself some equity and Patreon because I 457 00:22:46,640 --> 00:22:49,360 Speaker 5: give right to CRV And I said, hey, what happened here? 458 00:22:49,400 --> 00:22:51,760 Speaker 5: How did you all end up going from you didn't 459 00:22:51,840 --> 00:22:55,720 Speaker 5: like it to you're leading their round? And they were like, oh, 460 00:22:55,880 --> 00:22:59,560 Speaker 5: you know, making all these excuses, but they recognized that 461 00:22:59,600 --> 00:23:03,440 Speaker 5: it was my introduction. So that's an example of it 462 00:23:03,560 --> 00:23:06,280 Speaker 5: kind of being a negative and I hope you know, 463 00:23:06,359 --> 00:23:09,040 Speaker 5: they do right by us at some point. But when 464 00:23:09,080 --> 00:23:13,359 Speaker 5: it came to people like Jewel burks with part pick, 465 00:23:13,800 --> 00:23:17,320 Speaker 5: I worked with Jewel for a while. She had a 466 00:23:17,359 --> 00:23:22,280 Speaker 5: company that you can identify parts of, like you know, 467 00:23:22,560 --> 00:23:26,240 Speaker 5: auto parts and nails and different things on your phone 468 00:23:26,320 --> 00:23:28,240 Speaker 5: and then find it for you. And this was again 469 00:23:28,359 --> 00:23:31,680 Speaker 5: AI before everybody was talking about it. She was having 470 00:23:31,680 --> 00:23:34,000 Speaker 5: a hard time raising because everybody else talking to you was. 471 00:23:34,359 --> 00:23:36,679 Speaker 5: I helped her with a bunch of stuff and then 472 00:23:37,080 --> 00:23:38,960 Speaker 5: I just didn't have the money to invest, but I 473 00:23:39,040 --> 00:23:42,479 Speaker 5: wanted to invest a few months later, she went on 474 00:23:42,560 --> 00:23:45,440 Speaker 5: to sell to Amazon and she became a millionaire overnight. 475 00:23:45,840 --> 00:23:48,880 Speaker 5: And she's a really interesting person. She's an investor herself now. 476 00:23:48,920 --> 00:23:51,840 Speaker 5: She invested in my fund after that happened. But that's 477 00:23:51,840 --> 00:23:55,400 Speaker 5: one of those things where I'm just so happy for her, 478 00:23:55,720 --> 00:23:58,320 Speaker 5: and so happy for Nashally Cephiz who was her CTO, 479 00:23:58,400 --> 00:24:02,880 Speaker 5: her chief technology office, who also became a millionaire that day, 480 00:24:03,040 --> 00:24:06,200 Speaker 5: and whoever else, you know, multiple other people who did 481 00:24:06,440 --> 00:24:08,320 Speaker 5: And I just look at that and say, I just 482 00:24:08,359 --> 00:24:10,080 Speaker 5: told y'all. I mean, I was just telling all the 483 00:24:10,119 --> 00:24:12,040 Speaker 5: investors you should invest in this, and it went on 484 00:24:12,119 --> 00:24:13,680 Speaker 5: to do well. So I don't look at that as 485 00:24:14,040 --> 00:24:16,480 Speaker 5: I don't get too emotional about that one. I think 486 00:24:16,520 --> 00:24:18,560 Speaker 5: more it's just pride. 487 00:24:19,440 --> 00:24:22,400 Speaker 6: Is it like a hunger that I got to get 488 00:24:22,440 --> 00:24:24,000 Speaker 6: to this? Is there a part of it too? 489 00:24:24,119 --> 00:24:26,360 Speaker 5: Or so I would say, like the first I'm gonna 490 00:24:26,359 --> 00:24:29,359 Speaker 5: be just real honest with you. The first seven or 491 00:24:29,400 --> 00:24:35,560 Speaker 5: eight years, so twenty fifteen, twenty twenty one, I was like, shark, 492 00:24:35,600 --> 00:24:37,280 Speaker 5: you know, I have a joint venture with Mark Cuban. 493 00:24:37,359 --> 00:24:42,280 Speaker 5: I'm always working on things. I've lost that a little 494 00:24:42,280 --> 00:24:45,840 Speaker 5: bit when it comes to investing for a number of reasons, 495 00:24:46,400 --> 00:24:48,959 Speaker 5: a little bit of it being that I am, you know, 496 00:24:49,320 --> 00:24:52,119 Speaker 5: to say the truth, I am a trailblazer here and 497 00:24:52,240 --> 00:24:54,639 Speaker 5: so a lot of daggers in the back right, a 498 00:24:54,640 --> 00:25:00,000 Speaker 5: lot of scars from that, and it's been very difficult 499 00:25:00,080 --> 00:25:03,480 Speaker 5: to do and I love the progress that's been made, 500 00:25:03,520 --> 00:25:05,880 Speaker 5: and I love to see all of the seeds planted, 501 00:25:06,280 --> 00:25:10,560 Speaker 5: like you know, bearing that fruit. But it wears you out. 502 00:25:10,680 --> 00:25:13,000 Speaker 5: It wears you out when you when you're doing that. 503 00:25:13,080 --> 00:25:18,119 Speaker 5: So I'm I'm very competitive, but I think it's not 504 00:25:18,280 --> 00:25:21,720 Speaker 5: all about investing. Like I'm competitive in different arenas now. 505 00:25:22,880 --> 00:25:25,480 Speaker 4: So like, what are the economics and you investing into 506 00:25:25,480 --> 00:25:27,240 Speaker 4: a company, Like, how does that work? As far as 507 00:25:27,600 --> 00:25:29,200 Speaker 4: you go you say, I have one hundred thousand dollars, 508 00:25:29,240 --> 00:25:31,719 Speaker 4: I want ten percent of your company, and then they 509 00:25:31,760 --> 00:25:34,080 Speaker 4: come back and they say, no, well, we want only 510 00:25:34,119 --> 00:25:36,760 Speaker 4: give up five percent. How does this work as far 511 00:25:36,800 --> 00:25:39,480 Speaker 4: as you going in and actually offering to buy somebody's 512 00:25:39,520 --> 00:25:40,520 Speaker 4: company and. 513 00:25:40,680 --> 00:25:44,320 Speaker 5: Buy some equity? Yeah, usually they have around that they're raising. 514 00:25:44,440 --> 00:25:47,919 Speaker 5: So the company usually itsel says we want to go 515 00:25:47,960 --> 00:25:51,720 Speaker 5: out and raise a million dollars and they know how 516 00:25:51,800 --> 00:25:54,119 Speaker 5: much they want to raise for the reasons that they 517 00:25:54,240 --> 00:25:57,719 Speaker 5: figured out internally. And then they go to investors and 518 00:25:57,760 --> 00:26:00,760 Speaker 5: say what you know, what change where you do for 519 00:26:00,840 --> 00:26:03,679 Speaker 5: a million? Then you'll have the In a good scenario, 520 00:26:03,800 --> 00:26:06,600 Speaker 5: you'll have two or three you know, lead investors come 521 00:26:06,640 --> 00:26:09,159 Speaker 5: back to you with a term sheet that says, Okay, 522 00:26:09,480 --> 00:26:12,280 Speaker 5: we'll buy that on a five million dollar valuation, meaning 523 00:26:12,400 --> 00:26:15,280 Speaker 5: that's twenty percent d and then the next one may say, 524 00:26:15,320 --> 00:26:18,000 Speaker 5: we'll do it on a six million, so it's better 525 00:26:18,000 --> 00:26:21,320 Speaker 5: for you. You get a little less diluted because we 526 00:26:21,359 --> 00:26:23,760 Speaker 5: want the deal so bad. And so usually, like the 527 00:26:23,800 --> 00:26:26,920 Speaker 5: best case scenario is you have two or three lead 528 00:26:26,960 --> 00:26:32,520 Speaker 5: investors vying for to lead you around, and you take their terms, 529 00:26:32,520 --> 00:26:34,680 Speaker 5: and you don't necessarily take the terms that are most expensive. 530 00:26:34,720 --> 00:26:37,160 Speaker 5: You take the terms that you feel like, that's the company, 531 00:26:37,200 --> 00:26:38,840 Speaker 5: that's the fund I want to work with, that's who 532 00:26:38,880 --> 00:26:41,560 Speaker 5: I want to lead and represent. So we have that, 533 00:26:41,840 --> 00:26:46,800 Speaker 5: and then you have other investors around it who are followers, 534 00:26:46,840 --> 00:26:50,480 Speaker 5: who like you know, follow whatever terms have been created. 535 00:26:50,640 --> 00:26:53,040 Speaker 5: So it's it's usually that negotiating. So most of the 536 00:26:53,080 --> 00:26:57,960 Speaker 5: time backstage does not lead just because of the amounts 537 00:26:58,000 --> 00:27:01,720 Speaker 5: that we're putting in, but we always advice, so it's 538 00:27:01,720 --> 00:27:04,400 Speaker 5: almost like we act like we're on their board, even 539 00:27:04,400 --> 00:27:07,280 Speaker 5: if we're not on their board, like with their help, well. 540 00:27:07,240 --> 00:27:11,200 Speaker 6: What are some of the because you brought up challenges earlier, 541 00:27:11,480 --> 00:27:14,000 Speaker 6: and I'm thinking to myself, we've heard about what it 542 00:27:14,080 --> 00:27:17,000 Speaker 6: is to try to be a founder in race Capital, 543 00:27:17,160 --> 00:27:22,280 Speaker 6: but actually having a VC and representing three categories, right 544 00:27:22,359 --> 00:27:28,159 Speaker 6: like yes woman, yes, LBGTQ, yes, underestimated popula, uh population. 545 00:27:28,440 --> 00:27:31,119 Speaker 6: What is it like from that end? What are some 546 00:27:31,160 --> 00:27:33,919 Speaker 6: of the challenges that you face and how have you 547 00:27:33,960 --> 00:27:35,240 Speaker 6: dealt with it? How you overcome them. 548 00:27:35,720 --> 00:27:39,360 Speaker 5: A lot of a lot of people who just you know, 549 00:27:39,520 --> 00:27:42,000 Speaker 5: they talk, they say they're going to do something publicly, 550 00:27:42,560 --> 00:27:44,360 Speaker 5: they get the picture or whatever, but they really don't 551 00:27:44,400 --> 00:27:49,080 Speaker 5: do anything. But then there's really more like people actively 552 00:27:49,640 --> 00:27:53,120 Speaker 5: trying to not like, to stop what I'm doing. So 553 00:27:53,240 --> 00:27:56,280 Speaker 5: I had a white investor. I have a lot of 554 00:27:56,280 --> 00:27:59,800 Speaker 5: white investors, and I had one guy who is like, 555 00:28:00,240 --> 00:28:01,920 Speaker 5: I don't know, I think he's kind of like mafia 556 00:28:02,119 --> 00:28:05,600 Speaker 5: in in Silicon Valley. Like he truly he's interesting and 557 00:28:06,119 --> 00:28:07,840 Speaker 5: I don't think he's literally mafia, but he can he 558 00:28:07,840 --> 00:28:10,399 Speaker 5: can make a phone call and stuff gets done and 559 00:28:10,400 --> 00:28:12,960 Speaker 5: stuff goes away, right. And he called me in the 560 00:28:12,960 --> 00:28:14,960 Speaker 5: middle of the night one time a few years ago 561 00:28:15,000 --> 00:28:16,240 Speaker 5: and he said, I just want to let you know, 562 00:28:16,280 --> 00:28:19,639 Speaker 5: I just left a closed door, like you know, poker 563 00:28:19,680 --> 00:28:24,360 Speaker 5: game essentially with a bunch of guys who are very powerful, 564 00:28:24,800 --> 00:28:28,600 Speaker 5: and there's an understanding that you're not going to raise 565 00:28:28,800 --> 00:28:31,520 Speaker 5: more than you know, ten or twenty million dollars ever 566 00:28:32,280 --> 00:28:35,960 Speaker 5: in Silicon Valley. And I was like, okay, that was 567 00:28:36,040 --> 00:28:38,320 Speaker 5: a conversation. Y'all had time for that. And he's like, no, 568 00:28:38,400 --> 00:28:42,040 Speaker 5: I'm serious. He's like you the powers that be are like, 569 00:28:42,360 --> 00:28:45,720 Speaker 5: there's only a few of us. And the conversation, he's like, I, 570 00:28:45,760 --> 00:28:47,320 Speaker 5: you know, I said what I could, but I had 571 00:28:47,320 --> 00:28:49,600 Speaker 5: to be able to not say certain things so I 572 00:28:49,600 --> 00:28:51,920 Speaker 5: could come back and tell you. He's like, they don't 573 00:28:51,920 --> 00:28:56,640 Speaker 5: want you to win. And look, we've raised I've raised 574 00:28:57,720 --> 00:29:00,480 Speaker 5: thirty million dollars maybe twenty five, twenty four that has 575 00:29:00,520 --> 00:29:04,160 Speaker 5: been like direct LP money to invest in other companies. 576 00:29:04,440 --> 00:29:08,320 Speaker 5: We should buy our track record by the trailblazing part 577 00:29:08,320 --> 00:29:10,320 Speaker 5: of it, the groundbreaking part of it. We should be 578 00:29:10,480 --> 00:29:13,480 Speaker 5: at least one hundred million dollar fund, if not ten 579 00:29:13,520 --> 00:29:16,920 Speaker 5: times to what we are at least And so I 580 00:29:17,000 --> 00:29:19,000 Speaker 5: believed him when he said it, But I always thought 581 00:29:19,120 --> 00:29:25,640 Speaker 5: I could break through that. I think that I think that, yeah, 582 00:29:25,680 --> 00:29:28,000 Speaker 5: there's there's you see like Elon Musk and like how 583 00:29:28,040 --> 00:29:32,680 Speaker 5: he he's directly going after Cuban talking about DEI is 584 00:29:32,800 --> 00:29:36,000 Speaker 5: racist and all of that. That's what was happening behind 585 00:29:36,040 --> 00:29:38,040 Speaker 5: the scenes. That's who I deal with. I've had so 586 00:29:38,160 --> 00:29:41,880 Speaker 5: many conversations behind the scenes that are like a movie. 587 00:29:42,400 --> 00:29:44,360 Speaker 5: They're like, I can't believe this person is saying this 588 00:29:44,400 --> 00:29:47,520 Speaker 5: out loud to me, or somebody calling me and saying, 589 00:29:47,640 --> 00:29:49,600 Speaker 5: you know, you need to shut up. You need to 590 00:29:49,640 --> 00:29:53,000 Speaker 5: stop being so vocal about stuff. It's not good for you, 591 00:29:53,680 --> 00:29:57,080 Speaker 5: like I've had. So I had what was Paul Graham 592 00:29:57,080 --> 00:29:59,920 Speaker 5: at YC speaking of YC. So I'm friendly with Sam Almon. 593 00:30:00,040 --> 00:30:02,560 Speaker 5: I think he's cool. I've invested in Open AI, very 594 00:30:02,560 --> 00:30:06,680 Speaker 5: happy about that. Paul Graham, his mentor and the founder 595 00:30:06,760 --> 00:30:10,160 Speaker 5: of YC, I do not like very much. And it's 596 00:30:10,200 --> 00:30:15,080 Speaker 5: because he sicked his minions on me on Twitter and 597 00:30:15,480 --> 00:30:18,840 Speaker 5: I had to get security before I should really have 598 00:30:18,880 --> 00:30:23,480 Speaker 5: had security because I said something he said about his 599 00:30:23,600 --> 00:30:28,160 Speaker 5: wife and I said it was very sexist and chauvinistic 600 00:30:28,720 --> 00:30:31,600 Speaker 5: and said I just commented myself on it, you know, 601 00:30:31,640 --> 00:30:35,880 Speaker 5: on Twitter because I'm outspoken, and he just like came 602 00:30:35,920 --> 00:30:39,520 Speaker 5: after me. And it's happened a lot, like with different 603 00:30:39,640 --> 00:30:42,640 Speaker 5: different people of note, that's happened because I'll just speak 604 00:30:42,720 --> 00:30:44,840 Speaker 5: up when I want to speak up. I feel like 605 00:30:44,920 --> 00:30:48,800 Speaker 5: I have the moral high ground to speak up because 606 00:30:48,800 --> 00:30:52,560 Speaker 5: I'm actually doing action and I'm not just pontificating and 607 00:30:53,040 --> 00:30:56,480 Speaker 5: criticizing from the sidelines, Like I feel like we could 608 00:30:56,520 --> 00:30:59,720 Speaker 5: all be better, So I'm trying to be better. Why 609 00:30:59,800 --> 00:31:02,000 Speaker 5: can and this billionaire be better? 610 00:31:03,560 --> 00:31:06,920 Speaker 4: So as far as like valuations, right about valuations, a 611 00:31:06,960 --> 00:31:09,520 Speaker 4: lot like how do you guys look at the valuations? 612 00:31:09,520 --> 00:31:11,360 Speaker 4: Because we were talking to one of our friends, John Henry, 613 00:31:11,360 --> 00:31:13,760 Speaker 4: and he was saying a few years ago, like, depending 614 00:31:13,760 --> 00:31:15,240 Speaker 4: on what kind of company it is, it has a 615 00:31:15,280 --> 00:31:18,240 Speaker 4: different valuation, right, Like if it's a hair company, the 616 00:31:18,280 --> 00:31:21,000 Speaker 4: evaluation might be a lot different from a media company. 617 00:31:21,360 --> 00:31:24,480 Speaker 4: That might be a lot different from artificial intelligence technology 618 00:31:24,480 --> 00:31:28,600 Speaker 4: based company. So and then part of raising the money 619 00:31:28,680 --> 00:31:31,120 Speaker 4: is you have to raise on evaluation. That's one right, Yeah, 620 00:31:31,160 --> 00:31:33,680 Speaker 4: So how do you know, Okay, this is a fair valuation, 621 00:31:33,840 --> 00:31:37,240 Speaker 4: this is this company's overvaluated, this company is undervaluated. Yeah. 622 00:31:37,320 --> 00:31:39,760 Speaker 5: John Henry is a good friend and I've invested in 623 00:31:39,760 --> 00:31:42,760 Speaker 5: his company and after he became a founder. 624 00:31:44,760 --> 00:31:45,000 Speaker 4: Yeah. 625 00:31:45,040 --> 00:31:46,480 Speaker 5: So a lot of it is just like what the 626 00:31:46,520 --> 00:31:48,680 Speaker 5: market will bear. A lot of it is a lot 627 00:31:48,680 --> 00:31:52,920 Speaker 5: of people just deciding just to say what what what 628 00:31:52,960 --> 00:31:54,800 Speaker 5: can I push across the table and somebody says yes 629 00:31:54,840 --> 00:31:57,600 Speaker 5: to essentially, and it's kind of a joke in the 630 00:31:57,640 --> 00:32:00,880 Speaker 5: industry because it's like every year it's different. In twenty 631 00:32:00,920 --> 00:32:03,920 Speaker 5: twenty two and twenty twenty one is super frothy, super 632 00:32:04,880 --> 00:32:09,680 Speaker 5: everything was valued so high, ridiculously not sustainable, but everybody 633 00:32:09,720 --> 00:32:11,960 Speaker 5: was like, okay, cool, sounds good, more money for us. 634 00:32:12,000 --> 00:32:14,480 Speaker 5: And then when second half of twenty twenty two and 635 00:32:14,480 --> 00:32:17,280 Speaker 5: twenty twenty three, everything came crashing down because you could 636 00:32:17,320 --> 00:32:23,360 Speaker 5: understand that yeah, go you go ahead and y'all. So 637 00:32:23,640 --> 00:32:27,600 Speaker 5: the the so the valuations, but the reason that the 638 00:32:27,680 --> 00:32:33,120 Speaker 5: valuations are different is because the multiples on an exit 639 00:32:33,400 --> 00:32:37,400 Speaker 5: or a purchase are usually much different. So a hair 640 00:32:37,440 --> 00:32:41,959 Speaker 5: care product or a CpG company is gonna sell different 641 00:32:42,080 --> 00:32:50,240 Speaker 5: multiples than a SaaS AI company, Meaning like a you 642 00:32:50,320 --> 00:32:53,240 Speaker 5: might for something CpG, you might have like a one 643 00:32:53,280 --> 00:32:56,360 Speaker 5: and a half x to six x multiple on your 644 00:32:56,600 --> 00:33:01,520 Speaker 5: on your on your net revenue. If somebody buys you 645 00:33:02,840 --> 00:33:05,520 Speaker 5: on a SaaS AI you may have like twenty x 646 00:33:05,640 --> 00:33:09,200 Speaker 5: or ten x. So when someone's valuing you to invest 647 00:33:09,240 --> 00:33:11,880 Speaker 5: in you, all they're doing is projecting. All they're saying 648 00:33:11,920 --> 00:33:14,479 Speaker 5: is okay, if I put a dollar in what's the 649 00:33:14,520 --> 00:33:18,120 Speaker 5: best what's the best guess I can make as to 650 00:33:18,160 --> 00:33:21,160 Speaker 5: what your will sell for based on how you're doing today? 651 00:33:21,840 --> 00:33:25,760 Speaker 6: So is that from from your perspective? Is what a success? 652 00:33:26,000 --> 00:33:29,120 Speaker 6: Is it a company to exit? Is it to create 653 00:33:29,120 --> 00:33:33,720 Speaker 6: more millionaires? Is it to create more opportunities for founders? 654 00:33:33,760 --> 00:33:37,000 Speaker 6: Again from the three categories that we spoke about, how 655 00:33:37,000 --> 00:33:38,560 Speaker 6: do you determine to measure success? 656 00:33:38,800 --> 00:33:43,160 Speaker 5: I love that question. To me, it's all three, that's it, 657 00:33:43,280 --> 00:33:48,040 Speaker 5: right For very very sharky investors, they don't care about 658 00:33:48,040 --> 00:33:51,600 Speaker 5: impact and they don't care about like people coming up. Yeah, 659 00:33:51,600 --> 00:33:54,400 Speaker 5: that's just not important to them. That's not necessarily bad, 660 00:33:54,600 --> 00:33:57,719 Speaker 5: but it's just not my vibe, right. They're like apples 661 00:33:57,720 --> 00:34:00,440 Speaker 5: to apples? How much am I getting back? So that 662 00:34:00,600 --> 00:34:03,440 Speaker 5: is a juggle thing. But I say, and many of 663 00:34:03,520 --> 00:34:06,480 Speaker 5: us say, you can do both. And I just want 664 00:34:06,480 --> 00:34:07,920 Speaker 5: to say one thing you said earlier that there are 665 00:34:07,960 --> 00:34:10,279 Speaker 5: not a lot of black investors. So there's so many now, 666 00:34:10,320 --> 00:34:12,759 Speaker 5: which I'm so excited about. You know, like ten years 667 00:34:12,800 --> 00:34:15,480 Speaker 5: ago it was so different, but today like that, like 668 00:34:15,560 --> 00:34:17,080 Speaker 5: John Henry and I can be in a room and 669 00:34:17,120 --> 00:34:19,239 Speaker 5: it's just back to you know, back to back. Still 670 00:34:19,280 --> 00:34:24,400 Speaker 5: not enough. But so you have within black investors, you 671 00:34:24,440 --> 00:34:29,120 Speaker 5: have some like six four or five ventures. Aaron and Nyambi, 672 00:34:30,880 --> 00:34:35,680 Speaker 5: they are two black men. They've raised I don't know 673 00:34:35,680 --> 00:34:37,879 Speaker 5: how much more than one hundred million dollars. I can't remember, 674 00:34:37,960 --> 00:34:40,759 Speaker 5: maybe two or three hundred million dollars. And they're like, 675 00:34:41,000 --> 00:34:43,600 Speaker 5: let me put it into this spreadsheet and do these 676 00:34:43,680 --> 00:34:46,680 Speaker 5: numbers and see what this company might or may not make. 677 00:34:46,840 --> 00:34:48,520 Speaker 5: And I don't care. You know, it doesn't matter to 678 00:34:48,520 --> 00:34:51,080 Speaker 5: me if you're a woman or if you're purple. I 679 00:34:51,160 --> 00:34:53,640 Speaker 5: want to do that because my success as a black 680 00:34:53,680 --> 00:34:57,160 Speaker 5: man is then going to be my success story and 681 00:34:57,320 --> 00:35:00,600 Speaker 5: help others write. So I'm on the cat and so, 682 00:35:00,600 --> 00:35:02,640 Speaker 5: which I love that, by the way, I'm on the 683 00:35:02,640 --> 00:35:06,160 Speaker 5: category of I only get this one shot. I'm going 684 00:35:06,239 --> 00:35:09,880 Speaker 5: to just make this more well known to people like 685 00:35:09,920 --> 00:35:12,319 Speaker 5: you all are doing with your education, like more like 686 00:35:12,360 --> 00:35:15,560 Speaker 5: being a bridge to understanding this with my audience, which 687 00:35:15,600 --> 00:35:19,600 Speaker 5: is mostly women of color. And I'm going, so's that's 688 00:35:19,680 --> 00:35:22,680 Speaker 5: impact and success that I have a video right now 689 00:35:22,719 --> 00:35:25,000 Speaker 5: that I put up today. A black woman comes up 690 00:35:25,000 --> 00:35:28,399 Speaker 5: to me. She's crying, she's saying that she's essentially saying 691 00:35:28,440 --> 00:35:31,160 Speaker 5: that she felt she felt heard and represented and scene 692 00:35:31,719 --> 00:35:34,239 Speaker 5: because of the work that I do, And she said 693 00:35:34,239 --> 00:35:37,520 Speaker 5: it tangible, something that happened. That to me is like 694 00:35:37,560 --> 00:35:40,759 Speaker 5: the biggest that's the legacy, that's the thing that you 695 00:35:40,800 --> 00:35:45,600 Speaker 5: can't take away. But I also not only want to. 696 00:35:45,719 --> 00:35:49,040 Speaker 5: I feel like I have to make a lot of 697 00:35:49,120 --> 00:35:51,879 Speaker 5: money from what I'm doing, even though I even though 698 00:35:51,880 --> 00:35:55,920 Speaker 5: we're not funded enough, I want to make multiples for 699 00:35:56,000 --> 00:35:58,680 Speaker 5: our investors so that it serves as an example that 700 00:35:58,760 --> 00:36:02,960 Speaker 5: you can do both. And that's it's high pressure, but 701 00:36:03,040 --> 00:36:05,600 Speaker 5: I also agree that it should be high pressure. 702 00:36:06,680 --> 00:36:09,960 Speaker 4: So you said you raised thirty million. What's the processes 703 00:36:09,960 --> 00:36:12,080 Speaker 4: of raising money? Like, how do you who is in 704 00:36:12,120 --> 00:36:15,160 Speaker 4: your circle of investors? And how do you network and 705 00:36:15,280 --> 00:36:18,200 Speaker 4: promote your fund to actually get money into it? Yeah, 706 00:36:18,520 --> 00:36:20,080 Speaker 4: the earners, what's going on? Listen? 707 00:36:20,320 --> 00:36:24,600 Speaker 6: EYLU is relaunching, revamping, retooling. That's right, We're creating a 708 00:36:24,760 --> 00:36:28,239 Speaker 6: new educational experience that's more expansive, shouty telling what we. 709 00:36:28,200 --> 00:36:31,359 Speaker 7: Got, Yes, twenty twenty three, We've got a lot. It's 710 00:36:31,400 --> 00:36:33,560 Speaker 7: still a lot. Planning for you guys, so you know 711 00:36:33,640 --> 00:36:37,520 Speaker 7: that Eylu already includes monthly financial planning calls with me, 712 00:36:37,680 --> 00:36:40,799 Speaker 7: book club calls with Troy real Estate calls with MG 713 00:36:40,920 --> 00:36:44,600 Speaker 7: the Mortgage got access to the Home Buying Blueprint Volume 714 00:36:44,640 --> 00:36:47,920 Speaker 7: one and Volume two. Part of the revamp will include 715 00:36:48,120 --> 00:36:51,840 Speaker 7: twenty seven local chapters from across the United States, live 716 00:36:52,040 --> 00:36:56,280 Speaker 7: interactive teaching hands on not just pre recorded videos, plus 717 00:36:56,520 --> 00:36:59,040 Speaker 7: fifteen brand new curriculums. 718 00:36:59,320 --> 00:37:01,000 Speaker 6: The Big just got Bigger. 719 00:37:01,440 --> 00:37:06,239 Speaker 8: Head over to eyl university dot com. That's eyl U 720 00:37:06,600 --> 00:37:12,080 Speaker 8: n I V E R s I t Y dot com. 721 00:37:12,120 --> 00:37:15,719 Speaker 6: C it there. This episode is brought to you by 722 00:37:15,760 --> 00:37:18,480 Speaker 6: P and C Bank. A lot of people think podcasts 723 00:37:18,520 --> 00:37:21,799 Speaker 6: about work are boring, and sure they definitely can be. 724 00:37:22,280 --> 00:37:25,520 Speaker 6: But understanding of professionals routine shows us how they achieve 725 00:37:25,600 --> 00:37:29,840 Speaker 6: their success little by little, day after day. It's like 726 00:37:29,880 --> 00:37:32,680 Speaker 6: banking with P and C Bank. It might seem boring 727 00:37:32,719 --> 00:37:35,600 Speaker 6: to save, plan and make calculated decisions with your bank, 728 00:37:36,000 --> 00:37:38,439 Speaker 6: but keeping your money boring is what helps you live 729 00:37:38,600 --> 00:37:42,600 Speaker 6: or more happily fulfilled life. P and C Bank Brilliantly 730 00:37:42,680 --> 00:37:47,240 Speaker 6: Boring since eighteen sixty five. Brilliantly Boring since eighteen sixty 731 00:37:47,280 --> 00:37:50,560 Speaker 6: five is a service mark of the PNC Financial Service Group, Inc. 732 00:37:51,000 --> 00:37:58,200 Speaker 6: P and C Bank National Association member FDIC erness what's up. 733 00:37:58,280 --> 00:38:01,799 Speaker 6: You ever walk into a small business, everything just works like. 734 00:38:01,840 --> 00:38:05,319 Speaker 6: The checkout is fast, the receipts are digital, tipping is 735 00:38:05,320 --> 00:38:07,919 Speaker 6: a breeze, and you're out the door before the line 736 00:38:07,920 --> 00:38:12,560 Speaker 6: even builds odds are they're using Square. We love supporting 737 00:38:12,600 --> 00:38:15,280 Speaker 6: businesses that run on Square because it just feels seamless. 738 00:38:15,440 --> 00:38:17,960 Speaker 6: Whether it's a local coffee shop, a vendor at a 739 00:38:18,000 --> 00:38:20,880 Speaker 6: pop up market, or even one of our merch partners, 740 00:38:21,120 --> 00:38:24,920 Speaker 6: Square makes it easy for them to take payments, manage inventory, 741 00:38:25,000 --> 00:38:28,880 Speaker 6: and run their business with confidence, all from one simple system. 742 00:38:29,360 --> 00:38:31,959 Speaker 6: If you're a business owner or even just thinking about 743 00:38:32,040 --> 00:38:35,120 Speaker 6: launching something soon, Square is hands down one of the 744 00:38:35,160 --> 00:38:38,600 Speaker 6: best tools out there to help you start, run, and grow. 745 00:38:38,880 --> 00:38:41,879 Speaker 6: It's not just about payments, it's about giving you time 746 00:38:42,000 --> 00:38:44,919 Speaker 6: back so you can focus on what matters most Ready. 747 00:38:44,960 --> 00:38:48,320 Speaker 6: To see how Square can transform your business, visit Square 748 00:38:48,400 --> 00:38:52,920 Speaker 6: dot com backslash go backslash eyl to learn more that 749 00:38:53,120 --> 00:38:58,560 Speaker 6: Square dot com backslash, go backslash eyl. Don't wait, don't hesitate, 750 00:38:58,680 --> 00:39:01,080 Speaker 6: let's Square handle the back again so you can keep 751 00:39:01,080 --> 00:39:03,800 Speaker 6: pushing your vision forward. 752 00:39:04,560 --> 00:39:08,240 Speaker 1: An illegal alien from Guatemala charged with raping a child 753 00:39:08,239 --> 00:39:12,040 Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador 754 00:39:12,280 --> 00:39:16,440 Speaker 1: accused of murdering a Texas man of Venezuelan charged with 755 00:39:16,520 --> 00:39:20,400 Speaker 1: filming and selling child pornography in Michigan. These are just 756 00:39:20,480 --> 00:39:24,240 Speaker 1: some of the heinous migrant criminals caught because of President 757 00:39:24,280 --> 00:39:24,719 Speaker 1: Donald J. 758 00:39:24,800 --> 00:39:27,200 Speaker 2: Trump's leadership. I'm Christy Noman, the. 759 00:39:27,280 --> 00:39:31,840 Speaker 1: United States Secretary of Homeland Security. Under President Trump, attempted 760 00:39:31,920 --> 00:39:35,600 Speaker 1: illegal border crossings are at the lowest levels ever recorded, 761 00:39:35,920 --> 00:39:38,960 Speaker 1: and over one hundred thousand illegal aliens have been arrested. 762 00:39:39,239 --> 00:39:42,799 Speaker 1: If you are here illegally, your next you will be 763 00:39:42,840 --> 00:39:46,719 Speaker 1: fined nearly one thousand dollars a day, imprisoned, and deported. 764 00:39:47,200 --> 00:39:48,360 Speaker 2: You will never return. 765 00:39:48,680 --> 00:39:51,719 Speaker 1: But if you register using our CBP home app and 766 00:39:51,800 --> 00:39:54,680 Speaker 1: leave now, you could be allowed to return legally. 767 00:39:55,040 --> 00:39:55,839 Speaker 2: Do what's right. 768 00:39:56,440 --> 00:40:02,040 Speaker 1: Leave now under President Trump, America's laws order and families. 769 00:40:01,560 --> 00:40:02,360 Speaker 2: Will be protected. 770 00:40:02,520 --> 00:40:04,640 Speaker 3: Sponsored by the United States Department of Homeland Security. 771 00:40:05,840 --> 00:40:10,960 Speaker 5: It started out with that woman who It started out 772 00:40:11,000 --> 00:40:14,400 Speaker 5: with that woman who didn't have a lot of network, 773 00:40:15,440 --> 00:40:18,719 Speaker 5: and so she worked at a big company and then 774 00:40:18,880 --> 00:40:20,880 Speaker 5: she had some money from that, so she put in 775 00:40:20,880 --> 00:40:23,200 Speaker 5: like an angel investor. But then she introduced me to 776 00:40:23,280 --> 00:40:25,480 Speaker 5: her friend who happened to just be in a network. 777 00:40:25,640 --> 00:40:27,680 Speaker 5: That friend happened to be like a tech person from 778 00:40:27,680 --> 00:40:33,440 Speaker 5: Facebook who knew a man named Lars Resmussen who co 779 00:40:33,520 --> 00:40:37,680 Speaker 5: founded with his brother Google Maps. So that third investor 780 00:40:37,840 --> 00:40:41,279 Speaker 5: in twenty fifteen or the top of twenty sixteen. That 781 00:40:41,719 --> 00:40:44,640 Speaker 5: and he's a very early investor in Canva. So he's 782 00:40:44,680 --> 00:40:48,600 Speaker 5: just very very successful and he sees things early. But 783 00:40:48,800 --> 00:40:52,319 Speaker 5: that that was kind of like the first like that 784 00:40:52,400 --> 00:40:54,120 Speaker 5: I could see, Oh, I'm going to be talking to 785 00:40:54,160 --> 00:40:57,640 Speaker 5: people who have a lot of money and you know, 786 00:40:58,000 --> 00:41:02,600 Speaker 5: connection here. So I just spent you know, every day, 787 00:41:02,760 --> 00:41:05,880 Speaker 5: every waking hour, reaching out to people, working with people. 788 00:41:05,960 --> 00:41:10,799 Speaker 5: Then like maybe mid twenty sixteen, Stuart Butterfield reached out 789 00:41:11,080 --> 00:41:12,960 Speaker 5: the founder of Slack. He just saw what I was 790 00:41:12,960 --> 00:41:15,719 Speaker 5: doing and he wanted to be part of it. I 791 00:41:15,800 --> 00:41:18,920 Speaker 5: reached out to Mark and Dreason because he said that 792 00:41:19,040 --> 00:41:21,839 Speaker 5: something I wrote was interesting, and I use that as 793 00:41:21,840 --> 00:41:23,719 Speaker 5: an opportunity to ask him to invest and he ended 794 00:41:23,800 --> 00:41:26,440 Speaker 5: up investing in three of my funds, like the smaller funds, 795 00:41:27,520 --> 00:41:30,200 Speaker 5: which was has been really cool. He has also blocked 796 00:41:30,239 --> 00:41:32,759 Speaker 5: me on Twitter, so that tells you my life, Like, really, 797 00:41:34,000 --> 00:41:36,120 Speaker 5: I have no idea to ask him. I don't know 798 00:41:36,160 --> 00:41:40,239 Speaker 5: I should ask what Chris? I should ask Chris any Yeah, 799 00:41:40,280 --> 00:41:42,440 Speaker 5: you should ask Chris. I know y'all are friendly with him, 800 00:41:42,800 --> 00:41:45,560 Speaker 5: but Mark is he blocks everybody. He blocks everybody. But 801 00:41:45,600 --> 00:41:47,759 Speaker 5: I must have said something one day that upset him, 802 00:41:47,840 --> 00:41:50,560 Speaker 5: because I will call like, I will call people out, 803 00:41:50,600 --> 00:41:53,560 Speaker 5: like I call out Peter Till, I'll call out people 804 00:41:53,560 --> 00:41:56,160 Speaker 5: who are like friendly, I'll call out and dreason I've 805 00:41:56,160 --> 00:41:58,839 Speaker 5: called them out before. I've had conversations with Chris about 806 00:41:58,880 --> 00:42:01,240 Speaker 5: what did you call him off for? And when George 807 00:42:01,680 --> 00:42:04,719 Speaker 5: Floyd was murdered, Andre said, Horowitz, which is a multi 808 00:42:04,800 --> 00:42:07,759 Speaker 5: billion dollar fund, announced their cultural. 809 00:42:07,280 --> 00:42:08,719 Speaker 4: Fund, culture Leadership Fund. 810 00:42:08,840 --> 00:42:11,880 Speaker 5: Yeah, and then they also, I mean they also announced 811 00:42:11,880 --> 00:42:15,799 Speaker 5: this like one or two million dollar fund, and I 812 00:42:16,000 --> 00:42:17,640 Speaker 5: just it hurts me to say that word because it's 813 00:42:17,680 --> 00:42:21,280 Speaker 5: not to me a fund that invests in black people. 814 00:42:22,920 --> 00:42:25,160 Speaker 5: I know what it's like to put together a million dollars, 815 00:42:25,280 --> 00:42:27,560 Speaker 5: so I'm not saying it's nothing. But when you have 816 00:42:27,719 --> 00:42:31,640 Speaker 5: multiple billions under management and your response to a black 817 00:42:31,640 --> 00:42:34,640 Speaker 5: man being murdered on TV is to say, here's this 818 00:42:36,239 --> 00:42:40,680 Speaker 5: penny less than a penny, I was offended as someone 819 00:42:40,719 --> 00:42:43,560 Speaker 5: who had invested at that point in maybe one hundred 820 00:42:43,600 --> 00:42:46,719 Speaker 5: and forty companies led by underrepresented founders. I still am 821 00:42:46,800 --> 00:42:49,680 Speaker 5: offended by it. And in fact, I mean I know 822 00:42:49,760 --> 00:42:51,520 Speaker 5: the people who are all part of it. It's not 823 00:42:51,560 --> 00:42:53,560 Speaker 5: like I'm over here just like mad at them and 824 00:42:53,640 --> 00:42:57,080 Speaker 5: yelling at them. I've talked to all of them. I 825 00:42:57,120 --> 00:42:59,440 Speaker 5: appreciate the work that Chris is doing. I appreciate the 826 00:42:59,480 --> 00:43:03,319 Speaker 5: work that Nate did black you know, black men in 827 00:43:03,360 --> 00:43:07,399 Speaker 5: these organizations. I just think that the organizations are it's 828 00:43:07,440 --> 00:43:09,720 Speaker 5: really interesting to me that they're run by white people, 829 00:43:09,800 --> 00:43:14,000 Speaker 5: white men, and they, especially Ben Hurwitz, wants to be 830 00:43:14,080 --> 00:43:16,520 Speaker 5: so close to the culture. And if he's your friend, 831 00:43:16,560 --> 00:43:18,400 Speaker 5: I'm not trying to offend you, but he wants to 832 00:43:18,440 --> 00:43:21,520 Speaker 5: be so close to the culture. But tell me, besides, 833 00:43:21,640 --> 00:43:23,799 Speaker 5: like two founders that I can think of right now, 834 00:43:23,840 --> 00:43:25,520 Speaker 5: how many times do they put more than ten million 835 00:43:25,560 --> 00:43:28,880 Speaker 5: dollars to a black founder's company when there are those 836 00:43:29,000 --> 00:43:33,160 Speaker 5: two invest in. That's their business, it's their money. But 837 00:43:33,560 --> 00:43:36,520 Speaker 5: just like it's their business to not do that, it's 838 00:43:36,520 --> 00:43:39,040 Speaker 5: my business to talk about it and to say it 839 00:43:39,040 --> 00:43:40,399 Speaker 5: out loud. 840 00:43:40,680 --> 00:43:44,840 Speaker 6: To the overall goal for backstage capital, you said you 841 00:43:44,960 --> 00:43:47,719 Speaker 6: raised thirty million, should be valued at one hundred million. 842 00:43:48,600 --> 00:43:50,799 Speaker 6: Is there a number? Should it? Are you looking to 843 00:43:50,840 --> 00:43:51,879 Speaker 6: be a billion dollar fund? 844 00:43:51,960 --> 00:43:52,040 Speaker 8: Like? 845 00:43:52,280 --> 00:43:54,200 Speaker 6: What is the goal, right, because obviously as you have 846 00:43:54,280 --> 00:43:57,000 Speaker 6: more capital you can deploy it. Yeah, it won't be 847 00:43:57,040 --> 00:43:59,560 Speaker 6: a thousand millionaires, it'll be yeah million. 848 00:43:59,680 --> 00:44:01,799 Speaker 5: Well, a thousand new millionaires comes from me teaching people 849 00:44:01,800 --> 00:44:04,279 Speaker 5: how to fish. That's straight up. It's not about how 850 00:44:04,280 --> 00:44:07,520 Speaker 5: many people I can invest in. But I think I 851 00:44:07,520 --> 00:44:11,239 Speaker 5: think for everyone involved, our founders, for the LPs who've 852 00:44:11,239 --> 00:44:14,239 Speaker 5: already invested in, the ones who could invest based on 853 00:44:14,880 --> 00:44:16,680 Speaker 5: the deal flow that we have, the people we get 854 00:44:16,680 --> 00:44:18,879 Speaker 5: to see, the access we have. I just told you 855 00:44:19,440 --> 00:44:22,160 Speaker 5: I invested in open Ai. Nobody else got to invest 856 00:44:22,160 --> 00:44:28,040 Speaker 5: in open Ai, you know, directly through them, right unless 857 00:44:28,040 --> 00:44:30,240 Speaker 5: you had like one hundred million dollars fifty million dollars 858 00:44:30,680 --> 00:44:34,720 Speaker 5: this year? Yeah, just yeah, I mean, you know, obviously 859 00:44:34,800 --> 00:44:35,479 Speaker 5: wish it was sooner. 860 00:44:35,520 --> 00:44:37,000 Speaker 6: But it's the. 861 00:44:36,960 --> 00:44:39,840 Speaker 5: Thing though, It's like when Troy invested in Uber and Lyft. 862 00:44:41,360 --> 00:44:47,640 Speaker 5: But anyway, I think for everybody involved, we should be 863 00:44:47,800 --> 00:44:50,960 Speaker 5: at least the three hundred and fifty five hundred million 864 00:44:51,000 --> 00:44:56,120 Speaker 5: dollar fund under management within the next five years. That's 865 00:44:56,120 --> 00:44:59,640 Speaker 5: what we should be because we can deploy it. We 866 00:44:59,719 --> 00:45:03,239 Speaker 5: have the access, we have the skills to deploy that. 867 00:45:04,000 --> 00:45:04,239 Speaker 4: All. 868 00:45:04,560 --> 00:45:06,640 Speaker 5: You don't always have to have so much money, Like 869 00:45:07,480 --> 00:45:11,000 Speaker 5: Robert Smith has billions under management, your friend, right, because 870 00:45:11,000 --> 00:45:14,279 Speaker 5: he's a private equity investor, so he's making investments that 871 00:45:14,320 --> 00:45:16,560 Speaker 5: are so much bigger than the kind we're making. So 872 00:45:16,600 --> 00:45:18,319 Speaker 5: we don't have to be a billion dollar fund to 873 00:45:18,360 --> 00:45:22,960 Speaker 5: be super successful. But I think that a three hundred 874 00:45:23,040 --> 00:45:27,120 Speaker 5: four hundred million dollar assets under management is something that's 875 00:45:27,600 --> 00:45:29,160 Speaker 5: exactly where we should be in the pocket. 876 00:45:29,280 --> 00:45:31,360 Speaker 4: So what's your track record for your fund? 877 00:45:32,440 --> 00:45:35,000 Speaker 5: The track record is that we're about well, it's called 878 00:45:35,040 --> 00:45:38,719 Speaker 5: TVPI total value paid in. That means that for every 879 00:45:38,800 --> 00:45:41,439 Speaker 5: dollar that you've put in, what is that dollar worth 880 00:45:41,520 --> 00:45:45,120 Speaker 5: on paper essentially, So we're somewhere around one point four 881 00:45:45,120 --> 00:45:48,400 Speaker 5: to one point five x hovering across two hundred companies, 882 00:45:48,400 --> 00:45:52,000 Speaker 5: which is pretty hard to track. But across that so 883 00:45:52,440 --> 00:45:54,359 Speaker 5: we haven't had any major exits. We have like three 884 00:45:54,400 --> 00:45:58,160 Speaker 5: exits that have been small or aqua hires. We invest 885 00:45:58,200 --> 00:46:01,680 Speaker 5: at the earliest stages, but if you look at the 886 00:46:01,760 --> 00:46:04,600 Speaker 5: enterprise value of our portfolio, it's in the billions, which 887 00:46:04,640 --> 00:46:10,600 Speaker 5: is incredible. Hundreds, if not thousands of jobs created directly 888 00:46:10,600 --> 00:46:14,120 Speaker 5: from our investment and revenue is in you know, the 889 00:46:14,239 --> 00:46:15,319 Speaker 5: hundreds of millions. 890 00:46:15,640 --> 00:46:18,440 Speaker 4: So what will be your pitch for investors to invest 891 00:46:18,480 --> 00:46:21,359 Speaker 4: in your fund? Like, what's the main thing that you. 892 00:46:21,320 --> 00:46:24,719 Speaker 5: Would I certainly cannot pitch to investors. I can tell 893 00:46:24,719 --> 00:46:28,799 Speaker 5: you hypothetically because I'm not allowed by the SEC to. 894 00:46:31,200 --> 00:46:33,640 Speaker 4: What makes your fun attractive in your opinion? 895 00:46:34,760 --> 00:46:36,960 Speaker 5: We were you know, the thesis that I had ten 896 00:46:37,040 --> 00:46:40,279 Speaker 5: years ago or twelve years ago played out. I said, 897 00:46:40,320 --> 00:46:42,319 Speaker 5: you can either be you know, we've done so much 898 00:46:42,400 --> 00:46:44,600 Speaker 5: or so little. You can either be crashed by the 899 00:46:44,640 --> 00:46:48,000 Speaker 5: way that's coming or you can ride it. It's everything 900 00:46:48,040 --> 00:46:49,600 Speaker 5: I've said has happened. It's a video of me in 901 00:46:49,640 --> 00:46:53,600 Speaker 5: twenty seventeen talking about what happened in twenty twenty two 902 00:46:53,680 --> 00:46:56,840 Speaker 5: and twenty twenty one. Like it's just it keeps happening. 903 00:46:57,320 --> 00:47:00,000 Speaker 5: So it's been proven out. On top of that, there 904 00:46:59,760 --> 00:47:04,560 Speaker 5: are multiple funds that have been created after us and 905 00:47:04,600 --> 00:47:08,000 Speaker 5: with our mandate in our blueprint that are have gone 906 00:47:08,040 --> 00:47:11,160 Speaker 5: on to do well and who look to us for guidance. 907 00:47:11,560 --> 00:47:14,440 Speaker 5: So we actually have all of the touch points. We 908 00:47:14,520 --> 00:47:18,759 Speaker 5: have all of the the deal flow and the network 909 00:47:18,880 --> 00:47:24,720 Speaker 5: and the infrastructure that we've built manually essentially, so everything 910 00:47:24,760 --> 00:47:28,640 Speaker 5: that they're looking for for those to find the companies, 911 00:47:28,680 --> 00:47:30,080 Speaker 5: they don't have to do a thing, you know, come 912 00:47:30,120 --> 00:47:32,880 Speaker 5: find the companies through us. Then we nurture the companies. 913 00:47:33,080 --> 00:47:34,920 Speaker 5: They don't have to do that either, and then we 914 00:47:35,400 --> 00:47:38,880 Speaker 5: are able to the way we've already done source the 915 00:47:38,920 --> 00:47:42,719 Speaker 5: companies that then go on to have high enterprise value. 916 00:47:42,800 --> 00:47:46,160 Speaker 6: Brought up some of our alumni Troit Carter Chris Lions, 917 00:47:46,160 --> 00:47:50,960 Speaker 6: who has been on market mondays. Another alumni who's been 918 00:47:51,000 --> 00:47:54,360 Speaker 6: on both is Mark Cuban. Yeah, he invested five million 919 00:47:54,360 --> 00:47:56,759 Speaker 6: dollars into six six million dollars into your fund. Talk 920 00:47:56,800 --> 00:48:01,560 Speaker 6: about how that relationship transpire in his belief in you. 921 00:48:02,600 --> 00:48:04,560 Speaker 5: Yeah, I mean again, probably have to ask him. I 922 00:48:04,560 --> 00:48:06,480 Speaker 5: don't want to speak for him, but I'll tell you 923 00:48:06,520 --> 00:48:10,640 Speaker 5: what happened. I grew up in Dallas, so I've known 924 00:48:10,719 --> 00:48:14,279 Speaker 5: about Mark for twenty years, and I also watched Shark 925 00:48:14,280 --> 00:48:18,440 Speaker 5: Tank when I was, you know, broke, and just always 926 00:48:18,480 --> 00:48:21,840 Speaker 5: pretended I would pretend I was a fifth Shark or whatever. 927 00:48:22,560 --> 00:48:26,120 Speaker 5: So just really admired him and Twitter at the time 928 00:48:26,160 --> 00:48:29,279 Speaker 5: before it was X they asked us to speak on 929 00:48:29,320 --> 00:48:32,479 Speaker 5: a panel like on a like fireside together at south 930 00:48:32,480 --> 00:48:35,879 Speaker 5: By Southwest because we both use Twitter in an interesting way. 931 00:48:36,280 --> 00:48:40,600 Speaker 5: So that was twenty nineteen. We went out and I 932 00:48:40,680 --> 00:48:42,319 Speaker 5: was toe to toe with him, you know, I wasn't 933 00:48:42,440 --> 00:48:44,040 Speaker 5: He doesn't like as you know, he didn't like anybody 934 00:48:44,120 --> 00:48:45,960 Speaker 5: kiss his ass like he he likes to talk to 935 00:48:46,000 --> 00:48:48,719 Speaker 5: you like normal, and that was that's how we roll. 936 00:48:48,800 --> 00:48:50,400 Speaker 5: And you know, he got to meet my family, was 937 00:48:50,480 --> 00:48:53,799 Speaker 5: very kind to them, and so after it went really well, 938 00:48:53,840 --> 00:48:55,480 Speaker 5: I said, hey, will you invest in my fund? And 939 00:48:55,520 --> 00:48:57,520 Speaker 5: he said no, And he said I don't like to 940 00:48:57,520 --> 00:48:59,600 Speaker 5: invest in other people's funds for the most part, because 941 00:48:59,640 --> 00:49:01,839 Speaker 5: I like to invest directly into companies, having too much 942 00:49:01,840 --> 00:49:03,799 Speaker 5: fund doing that. So I said cool. You know I've 943 00:49:03,800 --> 00:49:07,120 Speaker 5: had multiple nos, so I was very respectful to him. 944 00:49:08,080 --> 00:49:10,480 Speaker 5: A few weeks later, there was an article that came 945 00:49:10,520 --> 00:49:13,920 Speaker 5: out in like Silicon Valley Press whatever tech Crunch, or 946 00:49:13,920 --> 00:49:16,960 Speaker 5: it wasn't tech Crunch, it was Axios actually, and it 947 00:49:17,080 --> 00:49:19,360 Speaker 5: said it had like a really unflattering picture of me, 948 00:49:20,040 --> 00:49:22,720 Speaker 5: as they do, and it said that my fund had 949 00:49:22,840 --> 00:49:25,600 Speaker 5: failed because I wasn't able to raise it yet raise 950 00:49:25,960 --> 00:49:28,520 Speaker 5: this certain fund I was raising, so thirty six million 951 00:49:28,560 --> 00:49:30,560 Speaker 5: dollar fund that I went out to raise and I 952 00:49:30,600 --> 00:49:33,640 Speaker 5: hadn't raised it yet and then so for some reason, 953 00:49:33,640 --> 00:49:36,360 Speaker 5: they just on this day decided to write that. And 954 00:49:36,440 --> 00:49:40,040 Speaker 5: that article, it didn't really accuse me of anything. It 955 00:49:40,120 --> 00:49:43,240 Speaker 5: just said that I was a failure and that people 956 00:49:43,280 --> 00:49:45,920 Speaker 5: had lifted me too high, said I was too good 957 00:49:46,120 --> 00:49:50,319 Speaker 5: before they should have. And because of that article, a 958 00:49:50,360 --> 00:49:53,239 Speaker 5: couple of our main LPs pulled out because they were like, 959 00:49:53,280 --> 00:49:55,760 Speaker 5: what's going on back there. I'm like, there's literally nothing 960 00:49:55,760 --> 00:49:59,000 Speaker 5: I have. The DM of the guy who wrote me 961 00:49:59,120 --> 00:50:01,000 Speaker 5: asked about this. He was so nice to me, but 962 00:50:01,120 --> 00:50:03,720 Speaker 5: I didn't know he's gonna write that, so I didn't 963 00:50:03,719 --> 00:50:06,000 Speaker 5: do anything. Mark wrote to me. He sent me a 964 00:50:06,080 --> 00:50:10,560 Speaker 5: DM and he said I saw the article and he said, 965 00:50:11,200 --> 00:50:14,240 Speaker 5: here's a million dollars so you can just do whatever 966 00:50:14,239 --> 00:50:16,520 Speaker 5: you need to do, like make whatever investment you want 967 00:50:16,520 --> 00:50:19,000 Speaker 5: to make. And he said, what we need to do 968 00:50:19,920 --> 00:50:22,560 Speaker 5: is make you independently wealthy so you don't have to 969 00:50:22,560 --> 00:50:25,480 Speaker 5: deal with this shit. And it's like, you are right, 970 00:50:25,640 --> 00:50:28,360 Speaker 5: you're right, you were correct, and I appreciated him. Not 971 00:50:28,400 --> 00:50:31,319 Speaker 5: only did he do that, he said, I said, okay, 972 00:50:31,360 --> 00:50:33,440 Speaker 5: you want to do it like a press release. He's like, no, 973 00:50:33,600 --> 00:50:35,279 Speaker 5: nobody needs to know this. It's cool. You do whatever 974 00:50:35,280 --> 00:50:36,520 Speaker 5: you If you want a press release, do it. If 975 00:50:36,520 --> 00:50:38,680 Speaker 5: you don't, don't. He wasn't trying to get the accoltes 976 00:50:39,760 --> 00:50:43,080 Speaker 5: on top of that. Usually, when you when you have 977 00:50:43,120 --> 00:50:45,759 Speaker 5: a fund, especially a joint fincher like that or all 978 00:50:45,760 --> 00:50:48,560 Speaker 5: the funds, you have two and twenty called so two 979 00:50:48,600 --> 00:50:51,600 Speaker 5: percent management fee that you get every year. It's just 980 00:50:51,640 --> 00:50:53,880 Speaker 5: like standard. It could be varied, but you get two 981 00:50:53,880 --> 00:50:56,440 Speaker 5: percent management fee and then twenty percent carry which is 982 00:50:56,520 --> 00:50:59,320 Speaker 5: carried interest short for carried interest, which is the profits 983 00:50:59,360 --> 00:51:05,040 Speaker 5: you make off of your winnings. That's really standard. He said, 984 00:51:05,840 --> 00:51:10,080 Speaker 5: management fee whatever, you know, UTU, you operated, but we'll 985 00:51:10,120 --> 00:51:13,600 Speaker 5: be thirty percent profit share because this is a true JV. 986 00:51:14,400 --> 00:51:16,360 Speaker 5: And I mean he offered that, and I just couldn't 987 00:51:16,360 --> 00:51:18,840 Speaker 5: believe it because it's so it's the kind of management 988 00:51:18,840 --> 00:51:22,160 Speaker 5: fee that Enries and Horowitz can command because it's so high. 989 00:51:22,640 --> 00:51:24,080 Speaker 5: So I just thought that was there was a lot 990 00:51:24,080 --> 00:51:26,759 Speaker 5: of integrity on his part, and it was almost like 991 00:51:27,719 --> 00:51:29,800 Speaker 5: that was the thing that told me this is in charity. 992 00:51:30,960 --> 00:51:34,960 Speaker 5: I was like, this is actually him just like I 993 00:51:34,960 --> 00:51:37,360 Speaker 5: don't know. It was just really interesting. So then a 994 00:51:37,440 --> 00:51:42,279 Speaker 5: year later, a year. Some months later, George Floyd was 995 00:51:42,360 --> 00:51:44,920 Speaker 5: murdered and I just got an email from Mark. Of 996 00:51:44,920 --> 00:51:46,759 Speaker 5: course that had been talking the whole year. We talk 997 00:51:46,800 --> 00:51:49,520 Speaker 5: about deals, we talk about whatever. I got an email 998 00:51:49,560 --> 00:51:52,120 Speaker 5: from him and it just said the subject said do 999 00:51:52,160 --> 00:51:54,800 Speaker 5: you want to do? You want to do more? Opened 1000 00:51:54,880 --> 00:51:57,200 Speaker 5: up the email and said, I'm going to be transferring 1001 00:51:57,200 --> 00:52:01,920 Speaker 5: five million dollars into our GV so we can. You know, 1002 00:52:02,000 --> 00:52:04,960 Speaker 5: he was he was livid about George Floyd's murder and 1003 00:52:05,000 --> 00:52:08,640 Speaker 5: the and the way that it was handled, and he 1004 00:52:08,680 --> 00:52:11,640 Speaker 5: wanted that was his way of acting. That was one 1005 00:52:11,640 --> 00:52:13,040 Speaker 5: of his ways of acting because he knew I was 1006 00:52:13,200 --> 00:52:15,040 Speaker 5: you know, we were already there. We had the infrastructure 1007 00:52:15,080 --> 00:52:19,120 Speaker 5: to handle that. And let me be real clear, like 1008 00:52:19,239 --> 00:52:25,080 Speaker 5: Marc is, he's very blunt. So he he doesn't sit around. 1009 00:52:25,080 --> 00:52:26,799 Speaker 5: We don't sit around a giggle like, we don't sit around. 1010 00:52:26,840 --> 00:52:28,160 Speaker 5: And he's like, oh, you're doing such a great job. 1011 00:52:28,239 --> 00:52:32,480 Speaker 5: He's like, where is like, where's the where is the 1012 00:52:32,520 --> 00:52:35,719 Speaker 5: path to me getting an ROI on this return on investment? Right? 1013 00:52:36,120 --> 00:52:39,799 Speaker 5: He says that very he's very specific. He treats me 1014 00:52:39,960 --> 00:52:44,320 Speaker 5: like he treats every other investment, which is I'm investing 1015 00:52:44,360 --> 00:52:45,839 Speaker 5: in you so he can give me money back. It's 1016 00:52:45,880 --> 00:52:49,480 Speaker 5: not a charity, right, He just makes sure that he 1017 00:52:49,640 --> 00:52:53,520 Speaker 5: spends his dollars the way he wants the world to be, like, 1018 00:52:53,600 --> 00:52:57,440 Speaker 5: he wants to put his dollars a certain way. So 1019 00:52:57,520 --> 00:53:00,600 Speaker 5: I asked him after that, first of all, I do 1020 00:53:00,640 --> 00:53:02,160 Speaker 5: want to do a press release. He said, okay, we 1021 00:53:02,160 --> 00:53:04,080 Speaker 5: can do a press release only if you go through 1022 00:53:04,120 --> 00:53:07,160 Speaker 5: this Black Woman. I'm sorry, No, a Woman of colors, 1023 00:53:09,600 --> 00:53:12,759 Speaker 5: very indie publication that I invested in. Only that's the 1024 00:53:12,800 --> 00:53:13,920 Speaker 5: only way. I don't want you to go to tech 1025 00:53:13,920 --> 00:53:16,000 Speaker 5: crime for anybody else USA today, which I could have, 1026 00:53:16,680 --> 00:53:19,800 Speaker 5: which again one more step of like, oh that's really 1027 00:53:20,719 --> 00:53:26,560 Speaker 5: that's just really doing it is intentional, right, because honestly, 1028 00:53:26,760 --> 00:53:29,080 Speaker 5: I know, six millions dollars a lot of money. But 1029 00:53:29,320 --> 00:53:31,400 Speaker 5: Mark could have if he wanted to, he could have 1030 00:53:31,600 --> 00:53:35,480 Speaker 5: like used that been on every like mentioned it every 1031 00:53:35,520 --> 00:53:37,319 Speaker 5: time he had an interview, and he would have made 1032 00:53:37,320 --> 00:53:40,279 Speaker 5: six million dollars back in some sort of marketing, you know, 1033 00:53:40,360 --> 00:53:43,480 Speaker 5: something that would have come back to him. I just 1034 00:53:43,520 --> 00:53:45,920 Speaker 5: think he really just wanted to do it. So finally 1035 00:53:45,960 --> 00:53:48,560 Speaker 5: I asked him why he did it, and he said, 1036 00:53:48,640 --> 00:53:51,279 Speaker 5: you're in rooms. I'll never be in. So it's just 1037 00:53:52,080 --> 00:53:55,680 Speaker 5: the right play for me. And I you know, I 1038 00:53:56,120 --> 00:53:58,480 Speaker 5: get court sided. I mean I buy court side seats 1039 00:53:58,480 --> 00:54:01,680 Speaker 5: and to Mavericks. That's the only one because I love Mavericks. Now, 1040 00:54:01,680 --> 00:54:03,960 Speaker 5: I just I usually the Mavericks. I usually. I used 1041 00:54:03,960 --> 00:54:07,880 Speaker 5: to not know who Luka Doncic was. So there's like 1042 00:54:08,440 --> 00:54:11,120 Speaker 5: a podcast episode from like two and a half years 1043 00:54:11,160 --> 00:54:14,359 Speaker 5: ago where we're talking about I'm with Mark talking about 1044 00:54:14,360 --> 00:54:15,880 Speaker 5: it and he's like, do you know, I was like, 1045 00:54:16,000 --> 00:54:19,240 Speaker 5: I don't know who that is. So I started watching 1046 00:54:19,520 --> 00:54:21,840 Speaker 5: after so many years. I know people are killing me 1047 00:54:21,920 --> 00:54:24,920 Speaker 5: right now and I'm obsessed now, so like I'm I'm 1048 00:54:25,160 --> 00:54:29,640 Speaker 5: oh yeah, yeah, oh yeah. And I'm always you know, 1049 00:54:29,719 --> 00:54:31,520 Speaker 5: of course i'd or get a suite or whatever. And 1050 00:54:31,640 --> 00:54:34,000 Speaker 5: anytime I see Mark, it's it's all, it's all good. 1051 00:54:34,000 --> 00:54:35,839 Speaker 5: But my brother just ran into him at the NBA. 1052 00:54:36,120 --> 00:54:38,359 Speaker 5: We were there. I just was in a hotel room 1053 00:54:38,440 --> 00:54:41,879 Speaker 5: at the NBA All Star Game, and you know, there's 1054 00:54:41,960 --> 00:54:43,920 Speaker 5: love for my brother and my mom and he's just 1055 00:54:44,000 --> 00:54:46,960 Speaker 5: really kind and there's some most of the companies she's 1056 00:54:46,960 --> 00:54:49,919 Speaker 5: invested in, he's never met the person. So for him 1057 00:54:49,920 --> 00:54:53,040 Speaker 5: to like four or five six times make an effort 1058 00:54:53,080 --> 00:54:55,839 Speaker 5: to come over and hug me and just like say 1059 00:54:55,880 --> 00:54:58,160 Speaker 5: how you doing. In addition to all the emails that 1060 00:54:58,200 --> 00:55:03,200 Speaker 5: we do, I just really appreciate that. I'm not intimidated 1061 00:55:03,239 --> 00:55:05,600 Speaker 5: by him, and I argue with him quite a bit 1062 00:55:06,120 --> 00:55:07,719 Speaker 5: because I don't think he's right about a lot of 1063 00:55:07,760 --> 00:55:11,600 Speaker 5: stuff he says to me. But you know, when someone 1064 00:55:11,680 --> 00:55:14,239 Speaker 5: argues with you and they do it respectfully, like you 1065 00:55:14,280 --> 00:55:18,160 Speaker 5: can tell like it's like a fair fight, you know, 1066 00:55:18,360 --> 00:55:20,120 Speaker 5: especially someone who has a little bit more power than 1067 00:55:20,160 --> 00:55:22,080 Speaker 5: you do. That's that's what it is. 1068 00:55:24,000 --> 00:55:29,080 Speaker 4: So where's what's the roadmap too? You said, you know, 1069 00:55:29,160 --> 00:55:31,600 Speaker 4: getting to where you want to go? Is it more pressed? 1070 00:55:31,680 --> 00:55:35,600 Speaker 4: Is it just bigger checks from wealthier investors? Are you 1071 00:55:35,640 --> 00:55:38,239 Speaker 4: targeting athletes and let you go to the games? Now? So, like, 1072 00:55:38,320 --> 00:55:40,800 Speaker 4: what's the roadmap to get to that one hundred million 1073 00:55:40,800 --> 00:55:43,440 Speaker 4: dollar three hundred million dollars whatever your goal is to 1074 00:55:43,480 --> 00:55:44,640 Speaker 4: break break that ceiling? 1075 00:55:44,800 --> 00:55:50,200 Speaker 5: Yeah, we have been in great conversations with major banks Goldman, Sachs, JP, Morgan, 1076 00:55:51,200 --> 00:55:53,320 Speaker 5: Bank of America. Bank of America is already an investor 1077 00:55:53,560 --> 00:55:56,680 Speaker 5: of ours. Again, I'll say, when we're I get into 1078 00:55:56,760 --> 00:55:59,799 Speaker 5: arguments with them. So that's part of it right, But 1079 00:56:00,880 --> 00:56:02,960 Speaker 5: I think Bank of America kind of broke the mold 1080 00:56:03,120 --> 00:56:09,120 Speaker 5: for us by investing seven figures because then Goldman Sachs 1081 00:56:09,120 --> 00:56:11,879 Speaker 5: and JP Morgan and SVB and the rest of them, 1082 00:56:11,920 --> 00:56:14,640 Speaker 5: can you know, understand what it is. So I think 1083 00:56:14,680 --> 00:56:16,080 Speaker 5: it's going to be that. I also think it's going 1084 00:56:16,160 --> 00:56:18,839 Speaker 5: to be a lot of family offices. So you know, 1085 00:56:19,400 --> 00:56:24,000 Speaker 5: I think that that's where we play best because it 1086 00:56:24,080 --> 00:56:25,920 Speaker 5: isn't it isn't super traditional. 1087 00:56:25,960 --> 00:56:28,080 Speaker 6: Can you talk about that? So a lot of people, 1088 00:56:28,200 --> 00:56:29,839 Speaker 6: even in some of the conversations we've been having over 1089 00:56:29,840 --> 00:56:33,520 Speaker 6: the past since twelve months, the words family offices have 1090 00:56:33,800 --> 00:56:36,640 Speaker 6: come up in conversation, but for a lot of population, 1091 00:56:36,680 --> 00:56:38,680 Speaker 6: they have no idea what it is. Just break that down. 1092 00:56:38,920 --> 00:56:41,920 Speaker 5: Family office is essentially like a fund within a family 1093 00:56:42,040 --> 00:56:46,200 Speaker 5: or a group of families. It's treated as a company 1094 00:56:46,320 --> 00:56:50,680 Speaker 5: or an entity, a funding entity. And so you might 1095 00:56:50,760 --> 00:56:54,640 Speaker 5: have like Jay Z, for instance, he's he's making investments 1096 00:56:54,680 --> 00:57:00,680 Speaker 5: out of his venture fund and that's kind of specific, 1097 00:57:00,760 --> 00:57:03,280 Speaker 5: but he has people working there and that it's very specific. 1098 00:57:03,520 --> 00:57:07,359 Speaker 5: LPs are in but he probably also has the Jay 1099 00:57:07,440 --> 00:57:10,279 Speaker 5: Z and Beyonce family office where they make their own 1100 00:57:10,280 --> 00:57:13,719 Speaker 5: investments and they have somebody at least one person, if 1101 00:57:13,760 --> 00:57:16,560 Speaker 5: not seven people running that, running the numbers on that, 1102 00:57:16,640 --> 00:57:19,360 Speaker 5: and treating it. And it's it's just your own allocation. 1103 00:57:19,480 --> 00:57:22,280 Speaker 5: Like for instance, one of my major one of my 1104 00:57:22,320 --> 00:57:25,000 Speaker 5: major goals, and you know maybe by the time I'm 1105 00:57:25,040 --> 00:57:27,040 Speaker 5: forty five, I only have a couple of years, is 1106 00:57:27,120 --> 00:57:31,280 Speaker 5: to have a family office. Is it's just it's different 1107 00:57:31,280 --> 00:57:34,560 Speaker 5: from angel investing because we're talking usually millions of dollars. 1108 00:57:34,760 --> 00:57:36,640 Speaker 5: You can't have a family office with like five hundred K. 1109 00:57:37,000 --> 00:57:40,160 Speaker 5: You're talking millions of dollars, if not tens or hundreds 1110 00:57:40,200 --> 00:57:43,600 Speaker 5: of millions of dollars, and you're investing directly out of that, 1111 00:57:44,120 --> 00:57:50,200 Speaker 5: and it's productized and has organization around it. And so 1112 00:57:50,360 --> 00:57:52,680 Speaker 5: those are the reason we don't know about them is 1113 00:57:52,680 --> 00:57:56,360 Speaker 5: because they're real stealth. They're a purpose. They're meant to 1114 00:57:56,480 --> 00:57:59,040 Speaker 5: you know, if somebody knew that a certain it doesn't 1115 00:57:59,080 --> 00:58:02,240 Speaker 5: have to be like a celebrity. If anybody you have 1116 00:58:02,280 --> 00:58:06,920 Speaker 5: a family office that can deploy fifty million dollars a 1117 00:58:07,040 --> 00:58:10,760 Speaker 5: year or twenty million dollars a year, they're going to 1118 00:58:10,840 --> 00:58:14,600 Speaker 5: be hounded because they don't have that shield of this 1119 00:58:14,680 --> 00:58:16,600 Speaker 5: is an entity of business over here. So like a 1120 00:58:16,720 --> 00:58:20,880 Speaker 5: family office sounds very intimate and accessible, so they don't 1121 00:58:20,880 --> 00:58:22,920 Speaker 5: want it to be so they're not going to put 1122 00:58:22,960 --> 00:58:24,880 Speaker 5: up a website. Most likely they're not going to do that. 1123 00:58:25,800 --> 00:58:27,919 Speaker 5: And what a lot of times a family office is too, 1124 00:58:28,040 --> 00:58:31,120 Speaker 5: is like the they'll realize that they can only do 1125 00:58:31,240 --> 00:58:34,880 Speaker 5: so much as a philanthropist, you know, they can only 1126 00:58:34,880 --> 00:58:37,800 Speaker 5: do move the needle so much. But if they instead 1127 00:58:37,840 --> 00:58:40,040 Speaker 5: of putting or in an addition to putting their money 1128 00:58:40,080 --> 00:58:43,640 Speaker 5: as you know, into charity, if they put it into companies, 1129 00:58:44,480 --> 00:58:48,280 Speaker 5: it can be evergreen. So if a family has you know, 1130 00:58:48,320 --> 00:58:51,040 Speaker 5: a big family has one hundred million dollars that they 1131 00:58:51,040 --> 00:58:54,160 Speaker 5: want to spend over time, and they're used to putting 1132 00:58:54,200 --> 00:58:57,320 Speaker 5: eighty million of that into charity, that goes away because 1133 00:58:57,320 --> 00:58:59,480 Speaker 5: it's spent and they just and it just kind of 1134 00:58:59,560 --> 00:59:02,280 Speaker 5: goes away. They have to refill the coffers. But if 1135 00:59:02,280 --> 00:59:04,800 Speaker 5: they have a family office that's making a return on 1136 00:59:04,840 --> 00:59:09,320 Speaker 5: an investment over five, seven, fifteen years, they never have 1137 00:59:09,440 --> 00:59:11,680 Speaker 5: to replenish that if they play it right. So that's 1138 00:59:11,680 --> 00:59:13,400 Speaker 5: what they're going after. And a lot of times you'll 1139 00:59:13,400 --> 00:59:17,280 Speaker 5: see these rich families combine their family offices so that 1140 00:59:17,320 --> 00:59:21,800 Speaker 5: it's one group like five to ten people who are 1141 00:59:21,960 --> 00:59:26,280 Speaker 5: hired by them to run four or five ten family 1142 00:59:26,320 --> 00:59:27,200 Speaker 5: offices at once. 1143 00:59:28,680 --> 00:59:35,200 Speaker 4: So as far as you personally, you have other stuff 1144 00:59:35,240 --> 00:59:38,080 Speaker 4: that you're into. So you have the podcast, you have 1145 00:59:38,160 --> 00:59:42,400 Speaker 4: the book. Different campaigns talk about that, and like, you know, 1146 00:59:42,400 --> 00:59:44,840 Speaker 4: a lot of times people only focus on one thing. 1147 00:59:44,880 --> 00:59:47,919 Speaker 4: What made you want to go in and start doing 1148 00:59:48,000 --> 00:59:51,240 Speaker 4: other things? Was it to raise visibility for your fund 1149 00:59:51,320 --> 00:59:53,360 Speaker 4: or was it just something that passionate that you just 1150 00:59:53,400 --> 00:59:54,040 Speaker 4: wanted to just do. 1151 00:59:54,440 --> 00:59:58,240 Speaker 5: It was when I was learning about venture, I didn't 1152 00:59:58,240 --> 01:00:01,080 Speaker 5: see anybody who looked like me teaching, Like all my 1153 01:00:01,160 --> 01:00:03,800 Speaker 5: teachers from books and things were white men who now 1154 01:00:03,840 --> 01:00:06,440 Speaker 5: are investors on my fund are friends, right, But I 1155 01:00:06,480 --> 01:00:08,120 Speaker 5: didn't see me. So that was part of it. It's 1156 01:00:08,160 --> 01:00:10,800 Speaker 5: like again, like every day of my life, I get 1157 01:00:10,800 --> 01:00:13,520 Speaker 5: this feedback. Something I did in twenty eighteen helped this, right, 1158 01:00:13,800 --> 01:00:17,040 Speaker 5: So it's that visibility. But then before, even like the 1159 01:00:17,120 --> 01:00:20,440 Speaker 5: Creator economy was a big thing, I looked at it 1160 01:00:20,520 --> 01:00:22,440 Speaker 5: at twenty fifteen and I said, when I did that 1161 01:00:22,560 --> 01:00:25,200 Speaker 5: blog post, and so many opportunities came my way, for 1162 01:00:25,360 --> 01:00:29,600 Speaker 5: my for the people I was helping, I have to 1163 01:00:29,600 --> 01:00:34,240 Speaker 5: be visible. You know, if you have decades and decades 1164 01:00:34,920 --> 01:00:38,240 Speaker 5: of mostly white men in an an eighty or so 1165 01:00:38,400 --> 01:00:43,600 Speaker 5: year old industry who have all of the purse, drink, 1166 01:00:43,640 --> 01:00:47,320 Speaker 5: the control all the money, they control everything, and they 1167 01:00:47,360 --> 01:00:51,920 Speaker 5: also control the voice of this industry. We got to 1168 01:00:51,960 --> 01:00:54,080 Speaker 5: have other people talk. And that's why John Henry did 1169 01:00:54,080 --> 01:00:57,440 Speaker 5: his show, you know, that's why he's all over social 1170 01:00:57,480 --> 01:00:59,919 Speaker 5: when you when you know, you're back and forth there. 1171 01:01:00,320 --> 01:01:02,880 Speaker 5: So I looked at that twenty sixteen and I said, 1172 01:01:03,360 --> 01:01:05,800 Speaker 5: I'm going to be I'm going to take some of 1173 01:01:05,800 --> 01:01:08,040 Speaker 5: the stuff I learned in previous lives where I was 1174 01:01:08,840 --> 01:01:13,400 Speaker 5: jumping on you know, MySpace and you know, had blogs 1175 01:01:13,400 --> 01:01:14,840 Speaker 5: and all kind of stuff. I'm going to use that 1176 01:01:15,400 --> 01:01:19,280 Speaker 5: to bring opportunity Again. I didn't have that much money, 1177 01:01:19,400 --> 01:01:22,800 Speaker 5: so you become money. So that's what it was. And 1178 01:01:22,840 --> 01:01:25,040 Speaker 5: I think the you did ask me before, I don't 1179 01:01:25,080 --> 01:01:28,120 Speaker 5: think I answered it completely, which is like, what do 1180 01:01:28,160 --> 01:01:31,240 Speaker 5: I want beyond the money? I do want to be. 1181 01:01:31,920 --> 01:01:34,880 Speaker 5: I do want the work that we have done at Backstage, 1182 01:01:35,440 --> 01:01:39,120 Speaker 5: our founders and my story to be known by more 1183 01:01:39,160 --> 01:01:43,800 Speaker 5: people because I see the impact it has. You can't 1184 01:01:43,800 --> 01:01:48,080 Speaker 5: deny the impact like we have helped create countless you 1185 01:01:48,160 --> 01:01:49,920 Speaker 5: as you know this, we were just talking about this, right, 1186 01:01:49,960 --> 01:01:52,720 Speaker 5: you know what this is like. We've helped create countless 1187 01:01:53,240 --> 01:01:58,240 Speaker 5: companies and you know, get people hired and change their lives. 1188 01:01:58,880 --> 01:02:00,720 Speaker 5: So of course I want more and more people to 1189 01:02:00,760 --> 01:02:01,400 Speaker 5: know about that. 1190 01:02:02,000 --> 01:02:04,880 Speaker 6: One of those ventures is a higher Runner dot co. Yeah, 1191 01:02:05,080 --> 01:02:05,840 Speaker 6: can you talk about that? 1192 01:02:05,960 --> 01:02:06,840 Speaker 4: So High Runner dot Co. 1193 01:02:07,000 --> 01:02:10,320 Speaker 5: So for seven years I ran backstage, still do but 1194 01:02:10,440 --> 01:02:12,960 Speaker 5: I ran backstage and I had to hyper focus. You 1195 01:02:13,000 --> 01:02:15,240 Speaker 5: have to hyper focus if you're going to do something big, right, 1196 01:02:15,520 --> 01:02:18,600 Speaker 5: So I focused on that. But I'm also an entrepreneur 1197 01:02:18,920 --> 01:02:20,800 Speaker 5: and that's I was that first, and so I kept 1198 01:02:20,840 --> 01:02:24,960 Speaker 5: having this calling back to I want to do something 1199 01:02:25,200 --> 01:02:27,880 Speaker 5: where I can at least be out there and like 1200 01:02:28,240 --> 01:02:30,160 Speaker 5: be in the trenches with the founders i'm investing in, 1201 01:02:30,200 --> 01:02:32,600 Speaker 5: because that also helps me become a better investor. So 1202 01:02:32,600 --> 01:02:35,480 Speaker 5: I said, what would what would be aligned so that 1203 01:02:35,560 --> 01:02:38,280 Speaker 5: it's not pulling away from what I'm doing. So I 1204 01:02:38,320 --> 01:02:41,200 Speaker 5: thought about the things that I get asked for the most. 1205 01:02:41,400 --> 01:02:43,040 Speaker 5: The number one thing I get asked for, I'm sure 1206 01:02:43,040 --> 01:02:46,080 Speaker 5: you can imagine, is money. Every day of my life. 1207 01:02:46,240 --> 01:02:48,040 Speaker 5: Like the I think the driver pitched me on the 1208 01:02:48,040 --> 01:02:50,160 Speaker 5: way here, Like I had my headphones on and I 1209 01:02:50,200 --> 01:02:52,920 Speaker 5: was like oh okay. I get pitched every day, all 1210 01:02:53,000 --> 01:02:54,960 Speaker 5: day long, just like you all probably get pitched to 1211 01:02:54,960 --> 01:02:58,680 Speaker 5: be on your show. I get pitched can you invest 1212 01:02:58,720 --> 01:03:01,480 Speaker 5: in my company? But then number two very close after that, 1213 01:03:01,760 --> 01:03:04,040 Speaker 5: I need I need help, like I need to hire 1214 01:03:04,120 --> 01:03:06,400 Speaker 5: somebody or I don't know what I don't know. And so 1215 01:03:06,440 --> 01:03:10,440 Speaker 5: it's about people. So hire runner dot Co helps connect 1216 01:03:10,800 --> 01:03:14,120 Speaker 5: fractional mostly fractional meaning part time and kind of gig 1217 01:03:14,160 --> 01:03:20,160 Speaker 5: economy operators like executive assistants, chiefs of staff, coos, et cetera, 1218 01:03:20,800 --> 01:03:24,400 Speaker 5: with companies of all sizes. So from the solopreneur to 1219 01:03:24,600 --> 01:03:28,160 Speaker 5: the Fortune five hundred company, we have them all this customers. 1220 01:03:28,600 --> 01:03:30,680 Speaker 5: And then in about a month and a half we're 1221 01:03:30,760 --> 01:03:34,560 Speaker 5: launching our app, which will be kind of similar to 1222 01:03:34,640 --> 01:03:39,040 Speaker 5: what fiver does, or in fiver, I would say that's 1223 01:03:39,080 --> 01:03:41,040 Speaker 5: the one I want to compared to where you can 1224 01:03:41,120 --> 01:03:43,680 Speaker 5: go on the app you have something that you need, 1225 01:03:43,840 --> 01:03:47,080 Speaker 5: maybe you need an EA for a month, you go, 1226 01:03:47,160 --> 01:03:49,120 Speaker 5: we find if we find the person for you, we 1227 01:03:49,240 --> 01:03:51,640 Speaker 5: match you and then you're off to the races and 1228 01:03:51,640 --> 01:03:52,520 Speaker 5: you can start the next day. 1229 01:03:52,560 --> 01:03:56,160 Speaker 4: Were you sure, thousand millionaires? Was that? I? 1230 01:03:56,600 --> 01:04:00,680 Speaker 5: My goal is to help create and catalyze one thousand millionaires. 1231 01:04:01,480 --> 01:04:06,400 Speaker 5: Ubs says that in twenty seventeen or by twenty seventeen, 1232 01:04:06,440 --> 01:04:09,200 Speaker 5: there will be eighty million millionaires in the world. They're 1233 01:04:09,200 --> 01:04:12,200 Speaker 5: about fifty seven million today, and so that's like ten 1234 01:04:12,320 --> 01:04:14,600 Speaker 5: million plus over the next year, is plus the ones 1235 01:04:14,640 --> 01:04:17,120 Speaker 5: that'll fall off, and you know, so that's at least 1236 01:04:17,160 --> 01:04:19,880 Speaker 5: ten million, maybe twelve million a year. I know a 1237 01:04:19,960 --> 01:04:22,880 Speaker 5: thousand for some people feels like a low number, but 1238 01:04:22,920 --> 01:04:27,760 Speaker 5: I say a thousand because I juxtaposed it against the billionaire. 1239 01:04:27,960 --> 01:04:30,360 Speaker 5: So we have we know, we all we have billionaire friends. 1240 01:04:30,400 --> 01:04:32,480 Speaker 5: We know that they're cool, but I don't know if 1241 01:04:32,480 --> 01:04:35,600 Speaker 5: anybody needs that much money. And so like, what if 1242 01:04:35,640 --> 01:04:38,760 Speaker 5: a thousand people had the same amount of money just 1243 01:04:38,800 --> 01:04:41,800 Speaker 5: as a as as to get started, right, it's not 1244 01:04:41,840 --> 01:04:43,480 Speaker 5: doesn't mean I want to stop there, but just like, 1245 01:04:43,480 --> 01:04:46,120 Speaker 5: what if a thousand people had that had had like 1246 01:04:47,160 --> 01:04:50,840 Speaker 5: enough and had more than enough? What could we influence? 1247 01:04:51,280 --> 01:04:54,800 Speaker 5: What could what you know, policy could we influence? Quality 1248 01:04:54,840 --> 01:04:57,400 Speaker 5: of life would be lifted. I believe that's my thesis. 1249 01:04:58,040 --> 01:04:59,640 Speaker 5: So that a lot of people are like, why isn't 1250 01:04:59,640 --> 01:05:02,160 Speaker 5: a million a million? And I say, I want to 1251 01:05:02,240 --> 01:05:04,720 Speaker 5: track it. I want to literally be able to tell 1252 01:05:04,720 --> 01:05:06,960 Speaker 5: you the names of the people that I helped and 1253 01:05:06,960 --> 01:05:10,600 Speaker 5: we helped create million you know, turn into millionaires by 1254 01:05:10,640 --> 01:05:14,200 Speaker 5: teaching you how to generate revenue and all the things. 1255 01:05:14,640 --> 01:05:16,720 Speaker 5: And if I said a million, a million, a lot, 1256 01:05:17,240 --> 01:05:18,840 Speaker 5: it would just be this sort of pie in the 1257 01:05:18,880 --> 01:05:22,560 Speaker 5: sky thing that is more inspirational than tactical. 1258 01:05:23,680 --> 01:05:27,560 Speaker 6: Is there a global initiative or plan to expand globally 1259 01:05:27,680 --> 01:05:31,240 Speaker 6: for both Backstage Capital and hire Runner dot co? 1260 01:05:31,480 --> 01:05:34,200 Speaker 5: So both of them. So backstage investment outside the country, 1261 01:05:34,240 --> 01:05:37,160 Speaker 5: we have six companies we've invested in that out of 1262 01:05:37,240 --> 01:05:40,760 Speaker 5: England who are African founders, and we don't have a 1263 01:05:40,800 --> 01:05:44,200 Speaker 5: mandate on where we can invest, I think for us, 1264 01:05:44,720 --> 01:05:46,600 Speaker 5: so we had a we had an open location in 1265 01:05:46,640 --> 01:05:49,880 Speaker 5: London for half a year in twenty nineteen. We were 1266 01:05:49,880 --> 01:05:52,720 Speaker 5: going to expand and then COVID happened and so we 1267 01:05:52,840 --> 01:05:55,520 Speaker 5: stopped the expansion. But I think for us it's just 1268 01:05:55,680 --> 01:06:00,560 Speaker 5: always been about resources, Like we get asked to go everywhere, 1269 01:06:00,640 --> 01:06:03,800 Speaker 5: and like you can imagine, we get at like any 1270 01:06:04,000 --> 01:06:05,800 Speaker 5: any country in the world, you can imagine the same 1271 01:06:05,840 --> 01:06:08,480 Speaker 5: thing is happening for some some group of people. So 1272 01:06:08,520 --> 01:06:11,240 Speaker 5: they're saying can you come here, Like in France, we've 1273 01:06:11,280 --> 01:06:14,200 Speaker 5: had can you come to to Paris and like build 1274 01:06:14,240 --> 01:06:16,120 Speaker 5: something in Paris or can you come to the outskirts 1275 01:06:16,520 --> 01:06:18,720 Speaker 5: in France that nobody has heard of. But we can 1276 01:06:18,760 --> 01:06:21,520 Speaker 5: do the same thing here because we're not getting it India, 1277 01:06:22,160 --> 01:06:25,160 Speaker 5: parts of Asia, Australia, all of everybody, indigenous people have 1278 01:06:25,160 --> 01:06:28,480 Speaker 5: asked us to come. My thing is I want to 1279 01:06:28,520 --> 01:06:29,720 Speaker 5: do that, and I would love to do that with 1280 01:06:29,760 --> 01:06:32,520 Speaker 5: the resources, and we will. But I also know that 1281 01:06:32,560 --> 01:06:35,680 Speaker 5: there are incredible companies in Saint Louis who are being overlooked. 1282 01:06:35,720 --> 01:06:40,920 Speaker 5: I also know that they are incredible companies in Jackson, Mississippi, Chicago, Seattle, uh, 1283 01:06:41,240 --> 01:06:44,120 Speaker 5: you know, North Carolina, all the things, and there's we 1284 01:06:44,280 --> 01:06:45,960 Speaker 5: I for the rest of my life, I could do 1285 01:06:46,000 --> 01:06:48,120 Speaker 5: this work and I would. I would not, you know, 1286 01:06:48,280 --> 01:06:52,680 Speaker 5: scratch the surface. So I think that there's definitely a 1287 01:06:52,680 --> 01:06:57,840 Speaker 5: strategy to there's a strategy that we need to deepen 1288 01:06:58,000 --> 01:07:00,640 Speaker 5: our well and we need to keep in our well 1289 01:07:00,760 --> 01:07:04,840 Speaker 5: by over the next two or so years at least 1290 01:07:04,880 --> 01:07:08,240 Speaker 5: tripling our assets under management, and then we can kind 1291 01:07:08,280 --> 01:07:10,440 Speaker 5: of sprout from there all of the different things that 1292 01:07:10,480 --> 01:07:11,160 Speaker 5: I've wanted to do. 1293 01:07:11,520 --> 01:07:13,840 Speaker 6: I think you sit in a unique position right, if 1294 01:07:13,880 --> 01:07:16,920 Speaker 6: you've invested over two hundred companies predominantly in tech. So 1295 01:07:17,000 --> 01:07:20,880 Speaker 6: I wonder from your vantage point, what obviously we know 1296 01:07:20,920 --> 01:07:23,640 Speaker 6: AI Jennaly of AI. Are there other trends that we 1297 01:07:23,680 --> 01:07:26,120 Speaker 6: should be looking for in technology? And if so, how 1298 01:07:26,160 --> 01:07:30,440 Speaker 6: should entrepreneurs be using it to their advantage and their businesses? 1299 01:07:30,760 --> 01:07:34,720 Speaker 5: Yeah, I think I think AI is. I don't think 1300 01:07:34,760 --> 01:07:40,280 Speaker 5: anybody quite has. I think everybody's underestimating the power of AI. 1301 01:07:41,160 --> 01:07:45,000 Speaker 5: I always just try to keep up with the best 1302 01:07:45,000 --> 01:07:49,280 Speaker 5: I can. I've never been good at like trend like 1303 01:07:49,440 --> 01:07:52,000 Speaker 5: looking for trends. I've been good at telling like seeing 1304 01:07:52,000 --> 01:07:56,360 Speaker 5: around corners. So for instance, I couldn't tell you. It's 1305 01:07:56,400 --> 01:07:58,200 Speaker 5: the same thing with like clothing and fashion, Like I 1306 01:07:58,200 --> 01:08:01,320 Speaker 5: don't know what's cool, but sometimes accidentally find things that 1307 01:08:01,360 --> 01:08:03,440 Speaker 5: are cool and they're like, oh, your shoes are incredible, 1308 01:08:03,440 --> 01:08:05,760 Speaker 5: and I accidentally picked these up because they're pretty, you know. 1309 01:08:06,440 --> 01:08:09,920 Speaker 5: So for me, when I think about like just how 1310 01:08:10,200 --> 01:08:16,080 Speaker 5: like just the way people who are let's even say 1311 01:08:16,120 --> 01:08:18,559 Speaker 5: fifty plus, it's probably even lower than that, but like 1312 01:08:19,400 --> 01:08:22,639 Speaker 5: fifty is not elderly, but like elderly people, then people 1313 01:08:22,680 --> 01:08:24,479 Speaker 5: who are retiring, and then people who are leaving their 1314 01:08:24,520 --> 01:08:27,680 Speaker 5: businesses and they don't have anybody to hand it off to. 1315 01:08:28,320 --> 01:08:32,320 Speaker 5: People who are in companies. Anybody who's a fifty over, 1316 01:08:32,320 --> 01:08:35,559 Speaker 5: they're just discounted. You all are probably too young to 1317 01:08:35,640 --> 01:08:39,000 Speaker 5: remember the Dinosaur TV show on ABC. You remember that, 1318 01:08:39,280 --> 01:08:42,479 Speaker 5: You remember the episode? Yes, there's an episode where they 1319 01:08:42,520 --> 01:08:44,360 Speaker 5: had like the grandma, who is a trip by the way, 1320 01:08:44,400 --> 01:08:46,320 Speaker 5: I think the grandma was black, But anyway, that the 1321 01:08:46,360 --> 01:08:49,040 Speaker 5: grandma was that it was a tradition that when you 1322 01:08:49,040 --> 01:08:50,960 Speaker 5: get at a certain age, you just throw the grand 1323 01:08:50,960 --> 01:08:54,200 Speaker 5: people like grand people off into the tar pits. And 1324 01:08:54,240 --> 01:08:55,800 Speaker 5: it was just like a tradition. And the husband was 1325 01:08:55,800 --> 01:08:57,680 Speaker 5: real excited because it was like that day, you know, 1326 01:08:57,880 --> 01:08:59,479 Speaker 5: and they did something to kind of turn it around 1327 01:08:59,479 --> 01:09:00,720 Speaker 5: so that she didn't have to get thrown into the 1328 01:09:00,720 --> 01:09:02,240 Speaker 5: tar pits. But I kind of think that's what we 1329 01:09:02,320 --> 01:09:05,800 Speaker 5: do with like older people. And obviously the older I get, 1330 01:09:05,960 --> 01:09:09,160 Speaker 5: we all get older. But the older I get and 1331 01:09:09,200 --> 01:09:11,600 Speaker 5: the higher in age I get, the more I'm like, 1332 01:09:12,360 --> 01:09:14,640 Speaker 5: what's going to happen, Like, what's going to happen to 1333 01:09:14,680 --> 01:09:17,799 Speaker 5: me in twenty years and whatever? I'll probably be okay, 1334 01:09:17,880 --> 01:09:23,680 Speaker 5: But I think there's so much that we are discounting 1335 01:09:23,680 --> 01:09:26,160 Speaker 5: and missing out and underestimating when it comes to older 1336 01:09:26,160 --> 01:09:30,280 Speaker 5: people and the wisdom that they have and the skill 1337 01:09:30,360 --> 01:09:33,040 Speaker 5: that they have. And so I think there's going to 1338 01:09:33,080 --> 01:09:37,280 Speaker 5: be I think that things that are both for like 1339 01:09:37,560 --> 01:09:43,040 Speaker 5: entrepreneurship for older people like that help with that, and 1340 01:09:43,200 --> 01:09:46,920 Speaker 5: things that are for you know, end of life, like 1341 01:09:46,960 --> 01:09:49,479 Speaker 5: everything in between. I think that's where I would be 1342 01:09:49,479 --> 01:09:52,679 Speaker 5: putting a lot of money. 1343 01:09:52,760 --> 01:09:56,080 Speaker 4: Well, thank you for coming. How can people follow your 1344 01:09:56,120 --> 01:09:58,960 Speaker 4: journey with your social media handles in any other information? 1345 01:09:59,200 --> 01:10:01,640 Speaker 5: Yeah, thank you so, Arlen. Is my name A R 1346 01:10:01,840 --> 01:10:04,320 Speaker 5: L A N. And I'm at Arlin. Was here on 1347 01:10:04,360 --> 01:10:06,960 Speaker 5: Instagram's where I spend most of my time. On LinkedIn too. 1348 01:10:08,200 --> 01:10:10,160 Speaker 5: But you can go to backstage capital dot com the 1349 01:10:10,200 --> 01:10:13,160 Speaker 5: cur portfolio check that out. You can also apply on 1350 01:10:13,200 --> 01:10:15,400 Speaker 5: backstage capital dot com. Most funds don't let you apply 1351 01:10:15,439 --> 01:10:18,479 Speaker 5: on their apply for investment if you think your company 1352 01:10:18,520 --> 01:10:20,120 Speaker 5: is viable for. 1353 01:10:20,280 --> 01:10:21,559 Speaker 4: The minimum to be an investor. 1354 01:10:22,200 --> 01:10:26,559 Speaker 5: To be an investor usually something around fifty k. But again, 1355 01:10:26,640 --> 01:10:28,600 Speaker 5: I'm not I'm not I'm just gonna say this. I 1356 01:10:28,600 --> 01:10:30,920 Speaker 5: am not allowed to say that, like talk about it 1357 01:10:31,120 --> 01:10:35,960 Speaker 5: in that way. I am not soliciting, but hypothetically that's 1358 01:10:36,240 --> 01:10:39,720 Speaker 5: in the past, when it's I'm just saying, it's just 1359 01:10:39,800 --> 01:10:41,760 Speaker 5: you know, because there are some funds that I have 1360 01:10:42,160 --> 01:10:43,920 Speaker 5: that we've had in the past that you can talk 1361 01:10:43,960 --> 01:10:47,840 Speaker 5: about impress they're just a different designation. And then there 1362 01:10:47,880 --> 01:10:50,000 Speaker 5: are others that you can't and you know, sec you 1363 01:10:50,040 --> 01:10:52,280 Speaker 5: don't play, they just don't. 1364 01:10:52,040 --> 01:10:55,040 Speaker 6: Play awful, but boys do not play any more. Books. 1365 01:10:55,720 --> 01:10:57,599 Speaker 5: Yeah, so I have It's about them Time came out 1366 01:10:57,640 --> 01:11:00,679 Speaker 5: in twenty twenty. Your First Billion Million came out this year. 1367 01:11:00,800 --> 01:11:02,840 Speaker 5: Please pick that up because I think I think that'll 1368 01:11:02,840 --> 01:11:05,680 Speaker 5: explain everything and it kind of the bigger picture. And 1369 01:11:05,720 --> 01:11:08,360 Speaker 5: I know I've talked a lot about myself today, but 1370 01:11:08,439 --> 01:11:10,880 Speaker 5: my thing is, like I could just drop the mic 1371 01:11:10,960 --> 01:11:15,600 Speaker 5: right now. I want us to win. I want so 1372 01:11:15,760 --> 01:11:19,080 Speaker 5: many of us who don't understand how valuable they are 1373 01:11:20,360 --> 01:11:23,080 Speaker 5: or we are, to win. So the book is really 1374 01:11:23,120 --> 01:11:24,880 Speaker 5: meant for that. So Your First Million, and then I 1375 01:11:25,400 --> 01:11:27,000 Speaker 5: do plan on putting out a third book in the 1376 01:11:27,040 --> 01:11:28,640 Speaker 5: next couple of years. Another thing I just want to 1377 01:11:28,640 --> 01:11:30,559 Speaker 5: make sure everybody knows is that I have an event 1378 01:11:30,640 --> 01:11:33,599 Speaker 5: coming up April ninety through the twelfth in Los Angeles. 1379 01:11:33,640 --> 01:11:36,519 Speaker 5: It's called Your First Million Live. We have Isa Ray. 1380 01:11:36,880 --> 01:11:39,720 Speaker 5: We have Rich Paul again, y'all, just a lot of 1381 01:11:40,280 --> 01:11:43,679 Speaker 5: stuff that, yeah, exactly. We have Humble coming through because 1382 01:11:43,880 --> 01:11:48,000 Speaker 5: we talked about y'all a few days ago. Yeah, and 1383 01:11:48,080 --> 01:11:51,439 Speaker 5: we have Sheila Johnson, the first black woman billionaire. We 1384 01:11:51,479 --> 01:11:54,280 Speaker 5: have TLC's closing out the event. It's at the Peacock 1385 01:11:54,360 --> 01:11:57,240 Speaker 5: Theater where the Emmys were held a few days ago. Yeah. 1386 01:11:57,280 --> 01:11:59,479 Speaker 5: So it is your first million. It's just going to 1387 01:11:59,520 --> 01:12:03,880 Speaker 5: be real. We wanted to be super informative and there's 1388 01:12:03,880 --> 01:12:06,559 Speaker 5: a lot of financial literacy there. It's about getting your 1389 01:12:06,600 --> 01:12:09,920 Speaker 5: coin right, but it's also this inspirational place where we 1390 01:12:09,920 --> 01:12:13,200 Speaker 5: can convene. The networking is like crazy. I just want 1391 01:12:13,240 --> 01:12:14,840 Speaker 5: to say, I know I'm taking up a lot of 1392 01:12:14,920 --> 01:12:17,600 Speaker 5: else time, but I just want to say just watching 1393 01:12:17,840 --> 01:12:21,280 Speaker 5: I watched your event two years ago from my home 1394 01:12:21,320 --> 01:12:23,920 Speaker 5: because I just I wasn't traveling, but I watched it 1395 01:12:23,920 --> 01:12:26,400 Speaker 5: on like the big screen, and I was just like 1396 01:12:27,280 --> 01:12:29,599 Speaker 5: I was just I just couldn't believe it. It was 1397 01:12:29,640 --> 01:12:34,000 Speaker 5: just so inspiring. And then this next this follow up, right, 1398 01:12:35,080 --> 01:12:37,640 Speaker 5: I just think it's definitely was an inspiration for for 1399 01:12:37,680 --> 01:12:39,439 Speaker 5: what I wanted to do an event for years. But 1400 01:12:39,479 --> 01:12:42,920 Speaker 5: it's definitely seeing you all and seeing the impact, and 1401 01:12:42,960 --> 01:12:44,880 Speaker 5: it's hearing about it, you know through the great A 1402 01:12:44,960 --> 01:12:47,599 Speaker 5: lot of your your followers kind of follow what I do. 1403 01:12:48,040 --> 01:12:50,360 Speaker 5: Just hearing about it. I asked people when they were 1404 01:12:50,400 --> 01:12:53,800 Speaker 5: their how is it going? You know? It really inspired 1405 01:12:53,840 --> 01:12:56,479 Speaker 5: me and I just there's nobody else. You all know this, 1406 01:12:56,520 --> 01:12:58,720 Speaker 5: but there's no one else who can put together what 1407 01:12:58,960 --> 01:13:01,120 Speaker 5: you had to twenty thousand people. Yeah, but even the 1408 01:13:01,200 --> 01:13:05,080 Speaker 5: year before was a tip. Yeah, even that to me 1409 01:13:05,280 --> 01:13:08,160 Speaker 5: was just like that, that was like your moment. I 1410 01:13:08,200 --> 01:13:11,040 Speaker 5: was like, oh, this is crazy. And I said, I 1411 01:13:11,040 --> 01:13:15,519 Speaker 5: heard y'all say on stage on this last year. You 1412 01:13:15,600 --> 01:13:19,080 Speaker 5: said why isn't like why aren't these major sponsors in 1413 01:13:19,120 --> 01:13:21,679 Speaker 5: the room? And I said, out loud, I was by myself, 1414 01:13:21,800 --> 01:13:23,800 Speaker 5: I said, out loud, I'm not how to make that happen, 1415 01:13:23,880 --> 01:13:26,320 Speaker 5: Like you know that sponsors are coming to my event, 1416 01:13:26,439 --> 01:13:30,200 Speaker 5: Like I let's bridge that gap, you know, like, because 1417 01:13:30,720 --> 01:13:33,559 Speaker 5: there's no reason these sponsors like you have great ally 1418 01:13:33,760 --> 01:13:36,599 Speaker 5: and all these sponsors, but you there's no reason most 1419 01:13:36,600 --> 01:13:39,880 Speaker 5: of the people I work with shouldn't know what you're 1420 01:13:39,920 --> 01:13:44,679 Speaker 5: doing because it's incredible and there's nothing like it here Toronto, London. 1421 01:13:44,720 --> 01:13:45,720 Speaker 5: There's nothing like that. 1422 01:13:46,040 --> 01:13:47,960 Speaker 6: We appreciate that, Dan appreciate it. 1423 01:13:48,040 --> 01:13:51,320 Speaker 4: Definitely. We could collapse, sure, for sure, for sure. Well 1424 01:13:51,520 --> 01:13:53,440 Speaker 4: make sure you go April. 1425 01:13:53,320 --> 01:13:55,880 Speaker 5: Nine, April ninth through the twelfth. If you only can 1426 01:13:55,920 --> 01:13:58,200 Speaker 5: make a couple of days, go to tenth and eleventh. 1427 01:13:58,240 --> 01:13:59,080 Speaker 5: This was gonna be amazing. 1428 01:13:59,160 --> 01:13:59,879 Speaker 4: What's the website? 1429 01:14:00,360 --> 01:14:02,679 Speaker 5: Your first million Dot Live, your. 1430 01:14:02,520 --> 01:14:05,280 Speaker 4: First million dot Love. Get your tickets now, ladies and gentlemen, 1431 01:14:05,760 --> 01:14:08,040 Speaker 4: and thank you guys, rocking onners. We see you next week. 1432 01:14:08,160 --> 01:14:12,120 Speaker 1: Peace pease an illegal alien from Guatemala charged with raping 1433 01:14:12,160 --> 01:14:15,639 Speaker 1: a child in Massachusetts. An MS thirteen gang member from 1434 01:14:15,640 --> 01:14:20,040 Speaker 1: Al Salvador accused of murdering a Texas man of Venezuelan 1435 01:14:20,360 --> 01:14:23,800 Speaker 1: charged with filming and selling child pornography in Michigan. 1436 01:14:24,160 --> 01:14:24,840 Speaker 2: These are just. 1437 01:14:24,880 --> 01:14:28,639 Speaker 1: Some of the heinous migrant criminals caught because of President 1438 01:14:28,680 --> 01:14:29,120 Speaker 1: Donald J. 1439 01:14:29,200 --> 01:14:30,120 Speaker 2: Trump's leadership. 1440 01:14:30,439 --> 01:14:34,040 Speaker 1: I'm Christy Noman, the United States Secretary of Homeland Security. 1441 01:14:34,360 --> 01:14:38,120 Speaker 1: Under President Trump, attempted illegal border crossings are at the 1442 01:14:38,160 --> 01:14:42,040 Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal 1443 01:14:42,080 --> 01:14:45,880 Speaker 1: aliens have been arrested. If you are here illegally, your 1444 01:14:46,000 --> 01:14:49,320 Speaker 1: next you will be fine Nearly one thousand dollars a day. 1445 01:14:49,479 --> 01:14:52,719 Speaker 2: Imprisoned and deported, you will never return. 1446 01:14:53,040 --> 01:14:56,080 Speaker 1: But if you register using our CBP home app and 1447 01:14:56,160 --> 01:14:59,040 Speaker 1: leave now, you could be allowed to return legally. 1448 01:14:59,400 --> 01:15:01,639 Speaker 2: Do what's right. Leave now. 1449 01:15:01,960 --> 01:15:06,320 Speaker 1: Under President Trump America's laws, border and families. 1450 01:15:05,960 --> 01:15:06,759 Speaker 2: Will be protected. 1451 01:15:06,880 --> 01:15:09,000 Speaker 3: Sponsored by the United States Department of Homeland Security,