1 00:00:00,880 --> 00:00:03,120 Speaker 1: Well, Lucas here, Black Tech, Green Money. 2 00:00:03,360 --> 00:00:05,160 Speaker 2: So glad to be with you guys, and for the 3 00:00:05,200 --> 00:00:07,320 Speaker 2: third time, you've probably been on the show more than anybody. 4 00:00:07,520 --> 00:00:09,280 Speaker 1: I think you might as well be like co hosts 5 00:00:09,280 --> 00:00:10,479 Speaker 1: here on Black Tech, Green Money. 6 00:00:10,560 --> 00:00:16,400 Speaker 2: Isaac Hayes, the third record producer, songwriter, voice actor, entrepreneur, 7 00:00:16,880 --> 00:00:19,920 Speaker 2: CEO and founder of fan Base, Welcome to the show. 8 00:00:20,280 --> 00:00:22,439 Speaker 3: What man, Yeah, I'm just a tech founder now I 9 00:00:22,520 --> 00:00:26,520 Speaker 3: dabble in those places. But the history they got context 10 00:00:26,600 --> 00:00:27,600 Speaker 3: who you are fan based. 11 00:00:28,200 --> 00:00:29,000 Speaker 4: I love it, I love it. 12 00:00:29,000 --> 00:00:30,080 Speaker 1: I love it all right. 13 00:00:30,120 --> 00:00:32,599 Speaker 2: So look, so we've been, you know, trying to make 14 00:00:32,640 --> 00:00:34,800 Speaker 2: this episode happen for a little while, and so much 15 00:00:34,840 --> 00:00:37,479 Speaker 2: has changed in the landscape of social media. 16 00:00:38,840 --> 00:00:40,720 Speaker 1: You know, you've got social media, new. 17 00:00:40,560 --> 00:00:42,680 Speaker 2: Features come out on a whole lot of different apps, 18 00:00:42,720 --> 00:00:45,879 Speaker 2: apps still in other people's features. You've got TikTok being 19 00:00:45,920 --> 00:00:49,520 Speaker 2: I want to talk about TikTok. And there's a lot 20 00:00:49,520 --> 00:00:53,120 Speaker 2: of uncertainty which happens in an administration like this, not 21 00:00:53,159 --> 00:00:56,040 Speaker 2: just in the marketplace, but also in social media apparently. 22 00:00:56,600 --> 00:00:58,840 Speaker 1: And so what is your read. 23 00:00:58,840 --> 00:01:02,800 Speaker 2: Currently on where this is going? When we here one 24 00:01:02,880 --> 00:01:05,160 Speaker 2: day may go away, then it gets delayed. 25 00:01:06,080 --> 00:01:08,039 Speaker 4: Where are we at. 26 00:01:08,080 --> 00:01:10,600 Speaker 3: You know, honestly, I know that there's a deadline, I 27 00:01:10,600 --> 00:01:14,720 Speaker 3: think June sixteenth or summer seventeenth, somewhere where like the 28 00:01:14,760 --> 00:01:17,280 Speaker 3: next deadline for them to sell the company is. But 29 00:01:17,319 --> 00:01:20,120 Speaker 3: other than that, I really haven't paid too much attention 30 00:01:22,040 --> 00:01:27,039 Speaker 3: because whether TikTok stays or goes, there's still a shift 31 00:01:27,040 --> 00:01:30,560 Speaker 3: that's happening in social media that we're currently focused on 32 00:01:31,200 --> 00:01:34,400 Speaker 3: that you know, kind of overlaps with short form video, 33 00:01:35,040 --> 00:01:38,119 Speaker 3: but there's a bigger play involved. And I've really been 34 00:01:38,240 --> 00:01:41,960 Speaker 3: spending the last since February really just working hard on 35 00:01:42,040 --> 00:01:46,080 Speaker 3: what this next era of fan base is and a 36 00:01:46,120 --> 00:01:47,600 Speaker 3: lot of great things have been happening. 37 00:01:47,640 --> 00:01:50,120 Speaker 4: So if TikTok stays, the stays. If it goes, it goes. 38 00:01:50,160 --> 00:01:53,040 Speaker 3: But I know that the deadline is just sometime June 39 00:01:53,160 --> 00:01:55,520 Speaker 3: sixteenth or seventeenth, then they'll probably extend it again, so 40 00:01:55,720 --> 00:01:56,800 Speaker 3: you know who knows from there. 41 00:01:57,520 --> 00:01:59,960 Speaker 2: Yeah, But like, no matter what happens there, it reshaped 42 00:02:00,240 --> 00:02:04,560 Speaker 2: the creator economy, So it creates opportunities for people like 43 00:02:04,640 --> 00:02:08,000 Speaker 2: you and your company, and I wonder like for particularly 44 00:02:08,000 --> 00:02:12,040 Speaker 2: for black creators who have built substantial followings, whether it 45 00:02:12,040 --> 00:02:15,680 Speaker 2: be TikTok or anywhere else. You know, how does how 46 00:02:15,680 --> 00:02:19,520 Speaker 2: do you hope this landscape shifts in our favor? 47 00:02:20,320 --> 00:02:23,480 Speaker 3: I think what I what I hope is that and 48 00:02:23,560 --> 00:02:27,320 Speaker 3: what I foresee is that every person that has a 49 00:02:27,360 --> 00:02:32,839 Speaker 3: social media page will be a content creator in some way, 50 00:02:32,840 --> 00:02:35,560 Speaker 3: shape or form, whether that is a you know, a 51 00:02:35,600 --> 00:02:39,600 Speaker 3: passive content creator or a professional content creator, right, and 52 00:02:39,639 --> 00:02:42,079 Speaker 3: they will they will do the same thing that they've 53 00:02:42,120 --> 00:02:45,320 Speaker 3: always been doing on social media, except there will be 54 00:02:45,480 --> 00:02:51,920 Speaker 3: this income just by participating in social media that users 55 00:02:51,960 --> 00:02:55,720 Speaker 3: get and or people take it really really seriously and 56 00:02:55,760 --> 00:02:58,840 Speaker 3: are able to produce content and garner the views and 57 00:02:58,919 --> 00:03:03,160 Speaker 3: attention that work television programming does, which is already happening, 58 00:03:03,200 --> 00:03:06,079 Speaker 3: but they're trying their best to kind of mask that 59 00:03:06,240 --> 00:03:09,400 Speaker 3: and you know, and kind of make it not seeing 60 00:03:09,520 --> 00:03:11,680 Speaker 3: that that's the reality. But the reality is is that 61 00:03:12,120 --> 00:03:15,640 Speaker 3: creators are now garnering the amount of visibility that network 62 00:03:15,680 --> 00:03:18,880 Speaker 3: programming has when they're spending hundreds and millions of dollars 63 00:03:18,919 --> 00:03:22,320 Speaker 3: on television shows, but they're doing it at a fraction 64 00:03:22,360 --> 00:03:24,840 Speaker 3: of the cost, but still gaining the same amount of visibility. 65 00:03:26,200 --> 00:03:30,200 Speaker 2: So I think a lot about diversifying the audience and 66 00:03:30,720 --> 00:03:32,960 Speaker 2: how I get access to the autists, and I'm interested 67 00:03:32,960 --> 00:03:35,800 Speaker 2: in your thoughts on this is because just to bring 68 00:03:35,880 --> 00:03:37,680 Speaker 2: up some of the other platforms. So, if I have 69 00:03:37,920 --> 00:03:42,320 Speaker 2: a million followers on Instagram, right, I don't own that 70 00:03:42,400 --> 00:03:45,760 Speaker 2: audience necessarily, Like I don't have access to the email addresses. 71 00:03:45,880 --> 00:03:48,280 Speaker 1: I can't if I leave, they they still there. 72 00:03:48,840 --> 00:03:53,400 Speaker 2: And so I encourage creators as often as possible to 73 00:03:53,560 --> 00:03:56,960 Speaker 2: build a newsletter. Just start to collect email addresses and 74 00:03:57,000 --> 00:03:59,680 Speaker 2: things like that so that no matter what happens, I 75 00:03:59,720 --> 00:04:03,920 Speaker 2: can directly get to my audience. You're somebody who also 76 00:04:03,960 --> 00:04:06,080 Speaker 2: thinks a lot about and talks a lot about ownership 77 00:04:06,280 --> 00:04:09,240 Speaker 2: is so I wonder what your thoughts are on how creators, 78 00:04:09,560 --> 00:04:13,120 Speaker 2: no matter what happens in social media landscape, how should 79 00:04:13,200 --> 00:04:16,640 Speaker 2: we be thinking about being able to access the people 80 00:04:16,640 --> 00:04:19,080 Speaker 2: who said I want to follow what that guy is. 81 00:04:19,000 --> 00:04:19,880 Speaker 4: Doing, what that lady's doing. 82 00:04:19,920 --> 00:04:22,880 Speaker 3: Well, if done the way that I intend and I'm 83 00:04:22,880 --> 00:04:25,640 Speaker 3: already doing, you will have access to that audience at 84 00:04:25,640 --> 00:04:28,760 Speaker 3: all times. The ability to communicate with those people, have 85 00:04:28,880 --> 00:04:32,240 Speaker 3: their email addresses, all those things will be part of 86 00:04:32,880 --> 00:04:36,440 Speaker 3: the future. I think the big differentiator between us and 87 00:04:36,640 --> 00:04:40,640 Speaker 3: all the other legacy platforms is these platforms have dug 88 00:04:40,720 --> 00:04:44,640 Speaker 3: the staking the ground on advertising, and that requires them 89 00:04:44,640 --> 00:04:47,520 Speaker 3: to kind of put a shield around your ability to 90 00:04:47,640 --> 00:04:50,440 Speaker 3: access the audience because then you can convert that audience 91 00:04:50,480 --> 00:04:55,080 Speaker 3: into your own advertising revenue stream. And so I'm not 92 00:04:55,120 --> 00:04:58,280 Speaker 3: concerned with that because fan Base is a free platform 93 00:04:58,320 --> 00:05:00,920 Speaker 3: to use. We don't run ads, and then the revenue 94 00:05:00,960 --> 00:05:03,479 Speaker 3: that you do make comes from either people tipping you 95 00:05:03,680 --> 00:05:06,560 Speaker 3: or you adding extra content that people subscribe to you. 96 00:05:06,960 --> 00:05:08,160 Speaker 4: So that added extra layer. 97 00:05:08,200 --> 00:05:10,479 Speaker 3: So that's not really our focus, So it doesn't change, 98 00:05:10,800 --> 00:05:14,120 Speaker 3: it doesn't alter the way that we operate our business 99 00:05:14,200 --> 00:05:16,839 Speaker 3: as opposed to the way that other platforms operate their business. 100 00:05:18,680 --> 00:05:22,080 Speaker 2: So along that line is how do you position to 101 00:05:22,480 --> 00:05:25,160 Speaker 2: a potential user, how do you pitch fan Base now? 102 00:05:26,360 --> 00:05:29,000 Speaker 3: Well, well, fan Base is an all in one social 103 00:05:29,040 --> 00:05:32,600 Speaker 3: media platform that's free to use. You can post anything 104 00:05:32,640 --> 00:05:36,320 Speaker 3: you want those photos, videos, stories, live audio, chat rooms, 105 00:05:37,480 --> 00:05:40,159 Speaker 3: and additionally, like I said, for free, but if you 106 00:05:40,200 --> 00:05:43,320 Speaker 3: want to, people can support you by subscribing to you 107 00:05:43,400 --> 00:05:47,080 Speaker 3: for additional content that you create. So it's the best 108 00:05:47,120 --> 00:05:51,320 Speaker 3: of both worlds. We're positioning ourselves in the market as 109 00:05:51,520 --> 00:05:58,040 Speaker 3: a distribution platform, but community based. So think about how 110 00:05:58,680 --> 00:06:01,200 Speaker 3: all these other platforms that currently exists for. 111 00:06:01,160 --> 00:06:04,640 Speaker 4: The exception of maybe YouTube, but. 112 00:06:06,960 --> 00:06:10,719 Speaker 3: Media companies are going to be faced with the realization 113 00:06:10,960 --> 00:06:13,720 Speaker 3: that they are no longer going to be places that 114 00:06:13,760 --> 00:06:16,560 Speaker 3: people come to look for their content, and they're going 115 00:06:16,600 --> 00:06:19,200 Speaker 3: to have to go to other places to distribute that content. 116 00:06:20,000 --> 00:06:23,200 Speaker 3: And so how I would pitch a creator is to say, hey, look, 117 00:06:23,560 --> 00:06:26,760 Speaker 3: you are your own distribution channel inside of fan base, right, 118 00:06:27,120 --> 00:06:30,400 Speaker 3: so you can distribute your content the same way that 119 00:06:30,600 --> 00:06:34,080 Speaker 3: someone distributes their music on Apple Music and Spotify. You 120 00:06:34,080 --> 00:06:37,840 Speaker 3: can deliver that content on fan Base, and anybody that 121 00:06:38,000 --> 00:06:40,760 Speaker 3: has a fan base account or access to that content 122 00:06:41,200 --> 00:06:44,000 Speaker 3: can watch that content or subscribe to that content. 123 00:06:44,800 --> 00:06:46,040 Speaker 4: And we want that to be frictionist. 124 00:06:46,080 --> 00:06:49,520 Speaker 3: That's why we have in app purchase subscriptions, we have 125 00:06:49,560 --> 00:06:52,240 Speaker 3: web subscriptions, we have tipping, all those things. And so 126 00:06:52,680 --> 00:06:55,839 Speaker 3: I would position it as consider yourself a television network. 127 00:06:56,120 --> 00:07:01,080 Speaker 3: Consider yourself the same way that coysonnot considers himself as 128 00:07:01,279 --> 00:07:05,080 Speaker 3: he's a network. But the big, the big separator between 129 00:07:05,640 --> 00:07:08,680 Speaker 3: what he does and these other legacy media platforms is 130 00:07:08,720 --> 00:07:11,920 Speaker 3: he's doing it inside a community infrastructure like Twitch. 131 00:07:12,600 --> 00:07:12,960 Speaker 4: And so. 132 00:07:14,880 --> 00:07:20,560 Speaker 3: I really was was happy for Kai saying, look, you know, 133 00:07:20,680 --> 00:07:24,160 Speaker 3: Amazon Prime, Netflix, to b have been asking me to 134 00:07:24,200 --> 00:07:27,960 Speaker 3: take his recent streamer University and bring it to those platforms, 135 00:07:28,440 --> 00:07:33,600 Speaker 3: but they need him, he doesn't need them. And the 136 00:07:33,640 --> 00:07:36,239 Speaker 3: only way that that these platforms are going to survive, 137 00:07:36,400 --> 00:07:38,760 Speaker 3: like the Netflix and the Hulus and the Disney pluses, 138 00:07:38,840 --> 00:07:41,400 Speaker 3: is those platforms are going to have to distribute their 139 00:07:41,440 --> 00:07:45,240 Speaker 3: content through large social networks. That's the only way that 140 00:07:45,240 --> 00:07:47,520 Speaker 3: people are going to consume content in the future. You're 141 00:07:47,560 --> 00:07:49,160 Speaker 3: not going to people are not going to go to 142 00:07:49,240 --> 00:07:54,640 Speaker 3: their television and then open up Netflix or Hulu. People 143 00:07:54,680 --> 00:07:57,880 Speaker 3: want to experience content in a more immersive way, in 144 00:07:57,920 --> 00:08:00,560 Speaker 3: a more collaborative way, and a more community. That's why 145 00:08:00,720 --> 00:08:03,320 Speaker 3: chat is kind of like the part of the conversation. 146 00:08:03,400 --> 00:08:06,400 Speaker 3: The chat has become part of the show, and so 147 00:08:06,920 --> 00:08:10,160 Speaker 3: when you merge those worlds, younger audiences are not just 148 00:08:10,160 --> 00:08:12,440 Speaker 3: gonna want to sit in front of a line or television, 149 00:08:12,960 --> 00:08:17,960 Speaker 3: a sixteen by nine screen and just watch shows. They're 150 00:08:17,960 --> 00:08:19,480 Speaker 3: gonna want to talk to their friends, They're going to 151 00:08:19,560 --> 00:08:22,120 Speaker 3: send clips of those shows, They're gonna make extra content. 152 00:08:22,600 --> 00:08:24,480 Speaker 3: All these things are part about part of how we're 153 00:08:24,480 --> 00:08:27,720 Speaker 3: going to consume content in the future, and so that's 154 00:08:27,720 --> 00:08:31,160 Speaker 3: a big differentiator between US and the rest of these 155 00:08:31,160 --> 00:08:34,000 Speaker 3: platforms that we understand that in the future we would 156 00:08:34,080 --> 00:08:38,040 Speaker 3: welcome a platform like Netflix and a platform like Hulu 157 00:08:38,080 --> 00:08:41,160 Speaker 3: and tub to actually have fan based pages and people 158 00:08:41,160 --> 00:08:43,720 Speaker 3: subscribe to those platforms the same way they do now 159 00:08:44,240 --> 00:08:47,880 Speaker 3: on Apple TV, but subscribe subscribe to them through fan 160 00:08:47,960 --> 00:08:51,640 Speaker 3: base because now you have a community that's around the content. 161 00:08:51,760 --> 00:08:54,839 Speaker 3: None of these platforms have community around their content except 162 00:08:54,880 --> 00:08:57,959 Speaker 3: for YouTube, and that community exists on the video itself 163 00:08:58,000 --> 00:09:00,360 Speaker 3: the video. Then there's the comment section, but there is 164 00:09:00,400 --> 00:09:03,160 Speaker 3: no community around YouTube. There's no twenty four to seven 165 00:09:03,320 --> 00:09:07,920 Speaker 3: community around YouTube where people have profiles and they they 166 00:09:07,960 --> 00:09:10,480 Speaker 3: send content, they react to content, they share content all 167 00:09:10,520 --> 00:09:13,600 Speaker 3: the time. Amongst these pages, it's more like, Okay, you 168 00:09:13,640 --> 00:09:16,120 Speaker 3: post a video, people have a conversation on the video, 169 00:09:16,320 --> 00:09:20,640 Speaker 3: and that's it. The next step is the community aspects 170 00:09:21,000 --> 00:09:25,320 Speaker 3: of where large communities have people that distribute content, which 171 00:09:25,320 --> 00:09:28,280 Speaker 3: is why you even see people platforms like only Fans 172 00:09:28,320 --> 00:09:30,400 Speaker 3: that are up for sale, and some media corporations are 173 00:09:30,400 --> 00:09:33,480 Speaker 3: considering buying only fans to kind of probably get rid 174 00:09:33,520 --> 00:09:36,720 Speaker 3: of the pornography element but still have a community to 175 00:09:36,720 --> 00:09:38,200 Speaker 3: distribute content. 176 00:09:37,840 --> 00:09:41,280 Speaker 1: Through kind of monetize On day one. 177 00:09:41,679 --> 00:09:42,840 Speaker 4: Yes, absolutely. Yeah. 178 00:09:42,880 --> 00:09:46,000 Speaker 3: And a great fact about fan Base, it's a big 179 00:09:46,040 --> 00:09:48,800 Speaker 3: separator from fan Base is it takes the average content 180 00:09:48,840 --> 00:09:52,200 Speaker 3: creator six months to earn their first dollar on other 181 00:09:52,240 --> 00:09:55,440 Speaker 3: social media platforms. We have people earning a dollar in 182 00:09:55,600 --> 00:09:57,840 Speaker 3: minutes on fan Base, you know, the day they sign up. 183 00:09:57,880 --> 00:10:01,120 Speaker 3: And it's not by even subscriptions, it's from people actually 184 00:10:01,160 --> 00:10:04,079 Speaker 3: tipping them for their content, for something that you say 185 00:10:04,679 --> 00:10:06,920 Speaker 3: in an audio room, or a comment that you leave 186 00:10:06,960 --> 00:10:10,600 Speaker 3: on a post, or something that you say in a DM. 187 00:10:10,679 --> 00:10:12,959 Speaker 3: And so we wanted to keep it wide open that 188 00:10:13,480 --> 00:10:17,480 Speaker 3: you yourself are creating content by commenting and sharing and 189 00:10:17,520 --> 00:10:20,480 Speaker 3: having these conversations, and so you earn money from day one. 190 00:10:21,600 --> 00:10:24,400 Speaker 1: So as a founder, and you got to think about that, 191 00:10:24,880 --> 00:10:25,120 Speaker 1: you know. 192 00:10:25,160 --> 00:10:28,760 Speaker 2: User acquisition strategically, this is what you think about every day. 193 00:10:28,840 --> 00:10:32,160 Speaker 2: You know, you have a product that could be for anybody, 194 00:10:32,200 --> 00:10:36,320 Speaker 2: anybody and everybody, right, Who is the person you target? 195 00:10:36,520 --> 00:10:39,600 Speaker 2: Is it the creator? Is it the is it the 196 00:10:39,760 --> 00:10:41,240 Speaker 2: eighteen to twenty four year old? 197 00:10:41,360 --> 00:10:41,680 Speaker 4: Is it? 198 00:10:42,000 --> 00:10:44,120 Speaker 2: Who is the person you spend the most time? If 199 00:10:44,120 --> 00:10:47,120 Speaker 2: I get them, everybody else will come along. 200 00:10:48,080 --> 00:10:51,320 Speaker 3: Well, I think first we're in this. That's a great 201 00:10:51,400 --> 00:10:54,760 Speaker 3: question because what we've been doing probably since February, I've 202 00:10:54,800 --> 00:10:58,040 Speaker 3: really focused on products in a way that we've never 203 00:10:58,080 --> 00:11:01,480 Speaker 3: had before. I've made some amaze hires here at fan Base, 204 00:11:02,400 --> 00:11:07,000 Speaker 3: two black women that are part of the fan Base team. 205 00:11:07,200 --> 00:11:10,920 Speaker 3: One is named Lauren Ward, who is over product at 206 00:11:11,000 --> 00:11:13,960 Speaker 3: fan Base now. She's formerly at Meta and Instagram and 207 00:11:14,000 --> 00:11:16,920 Speaker 3: she was over products like stories and reels and I 208 00:11:16,960 --> 00:11:19,760 Speaker 3: wanted to bring her in to really get the product 209 00:11:20,240 --> 00:11:23,200 Speaker 3: in a place that's competitive. And then we brought in 210 00:11:23,240 --> 00:11:28,800 Speaker 3: Ashley Adams's product marketing manager are who now is She 211 00:11:28,880 --> 00:11:31,560 Speaker 3: was formerly at Hulu and LinkedIn, but we brought her 212 00:11:31,600 --> 00:11:35,200 Speaker 3: over to make that relationship between the user base and 213 00:11:35,240 --> 00:11:38,280 Speaker 3: the product and how we communicate with those people. And 214 00:11:38,320 --> 00:11:41,199 Speaker 3: really you gather that information first and then you figure 215 00:11:41,240 --> 00:11:44,439 Speaker 3: it out. But you know, my ideal audience is someone 216 00:11:44,520 --> 00:11:46,880 Speaker 3: between the ages of eighteen to twenty four, just because 217 00:11:46,920 --> 00:11:50,880 Speaker 3: that gives us longevity. But we're in such a process 218 00:11:50,960 --> 00:11:54,320 Speaker 3: right now that we are simplifying the app, we are 219 00:11:54,440 --> 00:11:57,520 Speaker 3: building new features, We're doing a lot over these next 220 00:11:57,520 --> 00:12:01,240 Speaker 3: two quarters to kind of prepare fan Base for the 221 00:12:01,320 --> 00:12:03,480 Speaker 3: next level of where we need to be. And so 222 00:12:03,640 --> 00:12:07,040 Speaker 3: that's our target right now, is the youth right here 223 00:12:07,080 --> 00:12:10,040 Speaker 3: in Atlanta, Georgia. I want to target the culture because 224 00:12:10,080 --> 00:12:12,560 Speaker 3: wherever that goes, everyone else follows. You know, if you 225 00:12:12,600 --> 00:12:14,640 Speaker 3: get if you get the culture right, if you get 226 00:12:14,640 --> 00:12:16,920 Speaker 3: the culture, and if you get the youth, you get 227 00:12:16,960 --> 00:12:20,679 Speaker 3: everybody else because they are the coolest people, right, Kids 228 00:12:20,720 --> 00:12:24,920 Speaker 3: are the coolest people on the planet, and everybody wants 229 00:12:24,960 --> 00:12:26,400 Speaker 3: to be like them and be in the know, and 230 00:12:26,440 --> 00:12:28,800 Speaker 3: they kind of dictate the culture. So the younger generation, 231 00:12:29,400 --> 00:12:31,080 Speaker 3: it's always top of mind for me. 232 00:12:32,640 --> 00:12:36,439 Speaker 1: How do you view your role as a very public CEO? 233 00:12:36,720 --> 00:12:41,080 Speaker 2: You know, an opinionated CEO, a public facing one, one 234 00:12:41,120 --> 00:12:46,280 Speaker 2: who understands at some level the law, you know, considering 235 00:12:46,400 --> 00:12:48,880 Speaker 2: your copyrights and ownership and these sorts of things. 236 00:12:48,960 --> 00:12:49,560 Speaker 4: And you have. 237 00:12:51,559 --> 00:12:53,240 Speaker 1: I don't know unfiltered is the right word. 238 00:12:53,360 --> 00:12:56,840 Speaker 2: Maybe you'll say unfiltered, but you have a strong opinion 239 00:12:56,880 --> 00:12:58,880 Speaker 2: and you're not afraid to say it, and you're. 240 00:12:58,800 --> 00:12:59,520 Speaker 4: Also a CEO. 241 00:12:59,679 --> 00:13:01,880 Speaker 1: So how how do you think about that when you 242 00:13:01,920 --> 00:13:04,920 Speaker 1: wake up and more than like this, I chose violence. 243 00:13:07,200 --> 00:13:11,960 Speaker 3: Well, it's not that I choose violence. I choose truth, right, 244 00:13:12,280 --> 00:13:17,520 Speaker 3: and I choose honesty that might make people uncomfortable in 245 00:13:17,600 --> 00:13:22,000 Speaker 3: ways that I think that we've been indoctrinated into as 246 00:13:22,200 --> 00:13:25,280 Speaker 3: black people, so it's like, don't say too much out 247 00:13:25,320 --> 00:13:29,120 Speaker 3: of fear of messing up an opportunity right or ruining 248 00:13:29,160 --> 00:13:32,440 Speaker 3: something or And I don't think as black people we 249 00:13:32,520 --> 00:13:37,199 Speaker 3: can live like that any longer. I've had the opportunity 250 00:13:37,200 --> 00:13:39,400 Speaker 3: to where with some amazing people that have worked at 251 00:13:39,440 --> 00:13:44,480 Speaker 3: Meta and Snapchat, and these are brilliant individuals, but I've 252 00:13:44,520 --> 00:13:47,840 Speaker 3: also simultaneously heard them talk about the frustrations and the 253 00:13:47,880 --> 00:13:51,800 Speaker 3: disappointment of being the most exceptional Black person that you 254 00:13:51,840 --> 00:13:55,000 Speaker 3: can be, but also at the same time having to 255 00:13:55,120 --> 00:13:59,760 Speaker 3: limit your excellence make other people in the company feel comfortable. 256 00:14:00,280 --> 00:14:04,080 Speaker 3: That is, I've never experienced that in my life. But 257 00:14:04,120 --> 00:14:06,199 Speaker 3: when I hear that from a corporate standpoint, and I'm 258 00:14:06,200 --> 00:14:08,280 Speaker 3: pretty sure that's no different than a lot of places 259 00:14:08,360 --> 00:14:10,680 Speaker 3: in corporate America. But I don't come from that world, 260 00:14:10,720 --> 00:14:12,679 Speaker 3: so I don't understand that world. I don't live by 261 00:14:12,720 --> 00:14:15,240 Speaker 3: those rules. I don't acknowledge those rules, and I don't 262 00:14:15,280 --> 00:14:17,520 Speaker 3: accept those rules, and I don't think that. I don't 263 00:14:17,559 --> 00:14:21,200 Speaker 3: think any person of any gender, race, ethnicity should alter 264 00:14:21,360 --> 00:14:23,880 Speaker 3: who they are, especially on an intellectual level or a 265 00:14:23,920 --> 00:14:27,000 Speaker 3: talent level, to make someone else feel comfortable just because 266 00:14:27,040 --> 00:14:30,120 Speaker 3: they are the majority in the situation and they need employment. 267 00:14:30,640 --> 00:14:34,320 Speaker 3: So for me, I'm always going to be honest in 268 00:14:34,400 --> 00:14:37,800 Speaker 3: saying that we need to be unapologetically ourselves. That is 269 00:14:37,840 --> 00:14:41,480 Speaker 3: why fan Bases brand statement is being you without limits. 270 00:14:41,640 --> 00:14:42,160 Speaker 4: There's no. 271 00:14:43,880 --> 00:14:46,840 Speaker 3: Way in this company that anybody would not be able 272 00:14:46,880 --> 00:14:48,960 Speaker 3: to walk in here and be the most best version 273 00:14:49,040 --> 00:14:53,280 Speaker 3: of themselves and me or anyone in this company ask 274 00:14:53,320 --> 00:14:56,920 Speaker 3: them to limit that excellence, that that will never happen 275 00:14:56,960 --> 00:15:00,920 Speaker 3: at this company, but that happens every single day corporate America. 276 00:15:01,320 --> 00:15:04,640 Speaker 3: And so if that makes me a vocal CEO and 277 00:15:04,680 --> 00:15:07,840 Speaker 3: people consider that rocking the boat, so be it. 278 00:15:07,920 --> 00:15:08,760 Speaker 4: But there has to. 279 00:15:08,720 --> 00:15:13,080 Speaker 3: Be a change, especially in times like now, the administration 280 00:15:13,120 --> 00:15:16,960 Speaker 3: that we're in right now, that black people especially have 281 00:15:17,040 --> 00:15:21,120 Speaker 3: to own their power in ways that we never have 282 00:15:21,320 --> 00:15:25,440 Speaker 3: before and not be afraid to challenge that because now 283 00:15:25,840 --> 00:15:29,880 Speaker 3: we are in an era where distribution is digital, opportunity 284 00:15:29,920 --> 00:15:34,440 Speaker 3: is global, monetization is available for every single person. So 285 00:15:35,760 --> 00:15:38,040 Speaker 3: the means for you to be able to generate income 286 00:15:38,480 --> 00:15:41,240 Speaker 3: are not no longer based on you having to work 287 00:15:41,240 --> 00:15:44,960 Speaker 3: for an individual or a racist company or biggoty company, 288 00:15:45,040 --> 00:15:46,800 Speaker 3: or a company that wants to get rid of DEI 289 00:15:47,360 --> 00:15:50,920 Speaker 3: is shifting to where I am my own independent contractor 290 00:15:51,000 --> 00:15:53,600 Speaker 3: deciding how I want to live my life, how I 291 00:15:53,640 --> 00:15:56,480 Speaker 3: want to make my earn my money, make an income, 292 00:15:56,920 --> 00:15:58,480 Speaker 3: and no one can stop me from doing that. 293 00:16:00,040 --> 00:16:01,880 Speaker 2: You know, I'm gonna ask this question in different words. 294 00:16:01,920 --> 00:16:04,000 Speaker 2: I I like that response, and I'm interested in how 295 00:16:04,080 --> 00:16:08,440 Speaker 2: you talk to you know, growing publicly in a way. 296 00:16:08,480 --> 00:16:11,200 Speaker 2: So what I mean by that is, you know there 297 00:16:11,320 --> 00:16:14,760 Speaker 2: is a thought to be had, and I've seen you 298 00:16:14,800 --> 00:16:19,120 Speaker 2: have to have these conversations online to where grace will 299 00:16:19,160 --> 00:16:23,760 Speaker 2: be given to companies not built by us on how 300 00:16:23,800 --> 00:16:27,200 Speaker 2: things work, you know, technically in an application. And I 301 00:16:27,240 --> 00:16:29,560 Speaker 2: remember you saying, is is an interview I was watching 302 00:16:29,600 --> 00:16:32,600 Speaker 2: and you said, you know, white people get canceled for 303 00:16:32,760 --> 00:16:37,400 Speaker 2: breaking the law. We get canceled for having a pinion effectively, 304 00:16:38,120 --> 00:16:43,520 Speaker 2: and you I've seen you have to you know, defend, 305 00:16:43,920 --> 00:16:47,960 Speaker 2: you know, explain, you know, just technical issues. But people, 306 00:16:48,000 --> 00:16:50,040 Speaker 2: you know, some in our community were just like, oh 307 00:16:50,200 --> 00:16:52,680 Speaker 2: it had a bug, I'm never using it again. I 308 00:16:52,760 --> 00:16:55,320 Speaker 2: want My question is how do you respond to that 309 00:16:55,400 --> 00:16:58,720 Speaker 2: and educate also so that people understand, like you know, 310 00:16:59,080 --> 00:17:02,520 Speaker 2: the number one is technology. Things happen if things break, 311 00:17:02,640 --> 00:17:05,359 Speaker 2: et cetera, especially when you grow it. Things for sure break. 312 00:17:05,359 --> 00:17:07,120 Speaker 2: When you're growing, you speak to that. 313 00:17:07,720 --> 00:17:11,000 Speaker 3: I would speak to first and foremost is you have 314 00:17:11,040 --> 00:17:13,959 Speaker 3: to meet the moment and actually acknowledge the issues that 315 00:17:14,000 --> 00:17:18,880 Speaker 3: people have. Will I myself will only accept so much 316 00:17:18,920 --> 00:17:22,639 Speaker 3: grace as the company itself for us to not fix 317 00:17:22,720 --> 00:17:26,399 Speaker 3: issues that people have, right, I myself not because no 318 00:17:26,440 --> 00:17:28,880 Speaker 3: one asked, you know, no one asked me to build 319 00:17:28,880 --> 00:17:32,560 Speaker 3: a social media platform that is this complex, this complicated. 320 00:17:32,680 --> 00:17:34,840 Speaker 3: I decided to do this. I decided to take on 321 00:17:34,920 --> 00:17:37,480 Speaker 3: this challenge, and so we as a company have to 322 00:17:37,480 --> 00:17:39,840 Speaker 3: meet that moment and we can't run from that. So 323 00:17:39,920 --> 00:17:42,159 Speaker 3: we can't run from issues, we can't run from bugs, 324 00:17:42,160 --> 00:17:44,520 Speaker 3: we can't run from you know, anything like that. But 325 00:17:44,600 --> 00:17:47,159 Speaker 3: also remember that we are learning as we are growing, 326 00:17:47,640 --> 00:17:51,760 Speaker 3: and so that will happen and so over time those 327 00:17:51,840 --> 00:17:56,280 Speaker 3: issues that could exist in every app pass even Instagram, right, 328 00:17:56,960 --> 00:17:59,280 Speaker 3: we will face those challenges and just have to deal 329 00:17:59,320 --> 00:18:03,399 Speaker 3: with the bias that exists that because I'm black or 330 00:18:03,560 --> 00:18:05,920 Speaker 3: fan base is black owned, that it's some in some 331 00:18:06,000 --> 00:18:10,320 Speaker 3: way inferior to another app that has far more funding, 332 00:18:11,440 --> 00:18:13,879 Speaker 3: a lot more longevity and time on the market, and 333 00:18:13,920 --> 00:18:16,600 Speaker 3: we're just getting started, so you just have to meet 334 00:18:16,640 --> 00:18:19,920 Speaker 3: the moment. You can't make excuses, right, But that's that's 335 00:18:20,040 --> 00:18:21,840 Speaker 3: just that's just the way it is. So for me, 336 00:18:22,320 --> 00:18:24,359 Speaker 3: that is exactly why, like I said, we brought on 337 00:18:24,440 --> 00:18:27,119 Speaker 3: these new hires. I've got some I've got some some 338 00:18:27,119 --> 00:18:29,040 Speaker 3: some new people that have been giving me some great advice. 339 00:18:29,960 --> 00:18:33,119 Speaker 3: I've had the opportunity to talk to to Alvin Bowles, 340 00:18:33,119 --> 00:18:35,239 Speaker 3: who was formerly a Meta and people don't know he 341 00:18:35,280 --> 00:18:37,000 Speaker 3: was in he was there for over ten years. And 342 00:18:37,040 --> 00:18:40,240 Speaker 3: Tie my tailor, who comes from the Meta team and 343 00:18:40,280 --> 00:18:43,679 Speaker 3: it worked over at Snapchat, and and I've had some 344 00:18:43,760 --> 00:18:47,160 Speaker 3: amazing conversations with those two gentlemen too that really add 345 00:18:47,240 --> 00:18:49,960 Speaker 3: insight into what we're building. And what gives me the 346 00:18:50,000 --> 00:18:55,919 Speaker 3: best kind of calm in that is that those platforms 347 00:18:55,920 --> 00:18:59,080 Speaker 3: are no better than we are. They just had the 348 00:18:59,080 --> 00:19:02,200 Speaker 3: opportunity to make a lot of money, and so they 349 00:19:02,240 --> 00:19:06,920 Speaker 3: make so much money that they can they can mask 350 00:19:07,040 --> 00:19:10,080 Speaker 3: the mistakes with capital, right, you know what I'm saying. 351 00:19:10,080 --> 00:19:12,960 Speaker 3: So it's like people can overlook the fact that there's 352 00:19:13,040 --> 00:19:15,239 Speaker 3: a lot of glitches and bugs and stuff like that, 353 00:19:15,359 --> 00:19:16,200 Speaker 3: but they're. 354 00:19:15,960 --> 00:19:16,880 Speaker 4: Making so much money. 355 00:19:16,960 --> 00:19:19,239 Speaker 3: Number one, they really don't even don't care, Like if 356 00:19:19,280 --> 00:19:21,719 Speaker 3: you have a problem with it, it's like leave. You know, 357 00:19:21,840 --> 00:19:25,080 Speaker 3: they're not really here to address issues in a way 358 00:19:25,080 --> 00:19:27,840 Speaker 3: that are specific to users. We're small enough, we're nimble enough, 359 00:19:28,119 --> 00:19:30,080 Speaker 3: and we want to gain public trust in a way 360 00:19:30,280 --> 00:19:33,280 Speaker 3: that allows users to believe and have faith in what 361 00:19:33,320 --> 00:19:37,119 Speaker 3: we're doing. And so that's an opportunity there. So it 362 00:19:37,200 --> 00:19:39,119 Speaker 3: feels good to be able to talk to people that 363 00:19:39,160 --> 00:19:42,680 Speaker 3: have worked at these companies for years and get feedback 364 00:19:42,680 --> 00:19:45,600 Speaker 3: from them, saying in actuality, you guys are a little 365 00:19:45,640 --> 00:19:48,440 Speaker 3: bit more organized, and actuality your product is a little 366 00:19:48,480 --> 00:19:52,080 Speaker 3: bit better and actuality you know you are approaching this. 367 00:19:52,160 --> 00:19:54,240 Speaker 3: You have an opportunity to approach this a lot differently. 368 00:19:54,600 --> 00:19:57,199 Speaker 3: So I have the utmost confidence in faith in the 369 00:19:57,200 --> 00:20:00,000 Speaker 3: team and fan base and what we're doing. 370 00:20:00,000 --> 00:20:02,000 Speaker 4: Excited about that. So we'll just meet the moment. 371 00:20:03,160 --> 00:20:03,680 Speaker 1: You know what I'm saying. 372 00:20:03,720 --> 00:20:08,200 Speaker 2: You speak about this desire to merge culture and infrastructure, 373 00:20:09,280 --> 00:20:13,080 Speaker 2: and I'm interested in the culture part is obviously what 374 00:20:13,119 --> 00:20:15,840 Speaker 2: that means, Like, what does infrastructure mean when you say that, 375 00:20:16,080 --> 00:20:17,600 Speaker 2: because I imagine it's more than just an. 376 00:20:17,480 --> 00:20:23,000 Speaker 3: App Well, well no, maybe, well it just means that 377 00:20:23,359 --> 00:20:29,600 Speaker 3: black culture is funneled through institutions of capitalism, right, But 378 00:20:29,680 --> 00:20:33,000 Speaker 3: it's the gasoline, it's not the engine. And so the 379 00:20:33,040 --> 00:20:39,399 Speaker 3: infrastructure component is extremely important because it generates, you know, 380 00:20:39,600 --> 00:20:43,040 Speaker 3: a thousand times ten thousand times more wealth than it 381 00:20:43,080 --> 00:20:47,119 Speaker 3: does for the people that benefit from being culturally relevant 382 00:20:47,640 --> 00:20:51,159 Speaker 3: or entertaining or things like that. So if you know, 383 00:20:51,280 --> 00:20:56,359 Speaker 3: if Lebron James and SGK and all these other you know, 384 00:20:57,680 --> 00:21:01,840 Speaker 3: all these Anthony Edwards, all these athletes are making you know, 385 00:21:01,960 --> 00:21:05,600 Speaker 3: millions of dollars, what is the NBA making? If these 386 00:21:05,720 --> 00:21:09,320 Speaker 3: artists are making millions of dollars? In the record industry, 387 00:21:09,480 --> 00:21:13,000 Speaker 3: what are the labels making? If these television hosts and 388 00:21:13,080 --> 00:21:15,119 Speaker 3: these actors are making millions of dollars, what are the 389 00:21:15,119 --> 00:21:18,880 Speaker 3: studios making? If these content creators and influencers are making 390 00:21:18,880 --> 00:21:21,840 Speaker 3: millions of dollars, what are the apps making? And so, 391 00:21:22,960 --> 00:21:26,360 Speaker 3: in all of those situations, black culture is really what 392 00:21:26,800 --> 00:21:29,399 Speaker 3: makes those things relevant and cool, but no one owns 393 00:21:29,400 --> 00:21:32,639 Speaker 3: those infrastructures. And so once you switch the conversation to 394 00:21:32,720 --> 00:21:37,480 Speaker 3: infrastructure ownership, it removes this exploitative relationship that exists between 395 00:21:37,480 --> 00:21:43,680 Speaker 3: black culture and infrastructure, so that it provides the opportunity 396 00:21:43,720 --> 00:21:47,000 Speaker 3: for us to invest in corporations and own our culture 397 00:21:47,040 --> 00:21:51,640 Speaker 3: by way of investing and owning infrastructure, which creates generational 398 00:21:51,680 --> 00:21:55,480 Speaker 3: wealth in ways that we've never imagined before. When there's 399 00:21:55,520 --> 00:21:58,400 Speaker 3: you know, over I think three or four thousand billionaires 400 00:21:58,400 --> 00:22:04,280 Speaker 3: on the planet, like maybe sixteen black ones, we need 401 00:22:04,280 --> 00:22:09,800 Speaker 3: to create opportunities to create more millionaires, more billionaires, more 402 00:22:09,840 --> 00:22:12,439 Speaker 3: one hundred thousand AARs, more people that can you know, 403 00:22:12,560 --> 00:22:15,639 Speaker 3: own their culture and own their their their life in 404 00:22:15,680 --> 00:22:20,719 Speaker 3: a way by just being part of something that owns infrastructure. 405 00:22:20,760 --> 00:22:24,960 Speaker 3: So black culture is just the it's the gasoline of cool, right, 406 00:22:25,040 --> 00:22:27,760 Speaker 3: It's just but it's in it. None of these things 407 00:22:27,800 --> 00:22:31,000 Speaker 3: work without it. And so until someone stops and says, 408 00:22:31,119 --> 00:22:34,840 Speaker 3: before we do this really cool thing to make this 409 00:22:34,960 --> 00:22:38,720 Speaker 3: thing that everybody talks about, what is the economic impact 410 00:22:38,840 --> 00:22:41,200 Speaker 3: of us doing this going to have on the back end? 411 00:22:41,600 --> 00:22:46,040 Speaker 3: And are we going to be getting compensated appropriately for 412 00:22:46,240 --> 00:22:48,400 Speaker 3: making this the coolest thing ever? 413 00:22:48,560 --> 00:22:48,760 Speaker 4: Right? 414 00:22:49,280 --> 00:22:55,359 Speaker 3: So is Ryan Coogler is being compensated right for making 415 00:22:55,520 --> 00:22:59,960 Speaker 3: centers and imax in seventy millimeter, Like it's making it 416 00:23:00,119 --> 00:23:02,080 Speaker 3: cool in a way that no one else has made it. 417 00:23:02,680 --> 00:23:05,000 Speaker 3: I'max and seventy millimeter film has been around forever. I've 418 00:23:05,040 --> 00:23:08,600 Speaker 3: never heard anybody talk about seventy millimeter and I'max Films 419 00:23:08,600 --> 00:23:13,359 Speaker 3: morever than Ryan Coogler in this movie. So now, like, 420 00:23:13,640 --> 00:23:16,960 Speaker 3: how is he being compensated? And he's being compensated with 421 00:23:17,000 --> 00:23:20,400 Speaker 3: ownership of his film after twenty five years, But how 422 00:23:20,400 --> 00:23:25,200 Speaker 3: can other people be compensated for creating these these massive 423 00:23:25,240 --> 00:23:30,320 Speaker 3: institutions of wealth. I've mentioned this before, I'll say it again. 424 00:23:31,320 --> 00:23:33,680 Speaker 3: Even when you think of the success that Kay Sannot 425 00:23:34,040 --> 00:23:36,800 Speaker 3: and all these streamers are having on Twitch, there's a 426 00:23:36,840 --> 00:23:41,159 Speaker 3: direct correlation between Soldier Boy and bow Wow and Twitch. 427 00:23:41,640 --> 00:23:44,560 Speaker 3: And that is because Soljier Boy and bow Wow got 428 00:23:44,640 --> 00:23:49,719 Speaker 3: on a platform called justin TV, right, and the early 429 00:23:50,359 --> 00:23:53,560 Speaker 3: eight twenty tens, two thousand, I mean I'm two thousands, 430 00:23:53,920 --> 00:23:56,960 Speaker 3: you know, eight nine ten around that and justin TV, 431 00:23:57,160 --> 00:23:59,520 Speaker 3: with the success of Sojio Boy and Maowow, decided to 432 00:23:59,520 --> 00:24:03,280 Speaker 3: make a video video game streaming version of just TV 433 00:24:03,440 --> 00:24:07,320 Speaker 3: called Twitch. And so there would be no Twitch without 434 00:24:07,440 --> 00:24:11,040 Speaker 3: Soldiaboy and bow Wow. Right, And so how come Sogiaboy 435 00:24:11,040 --> 00:24:14,200 Speaker 3: and bow Wow don't own part of Twitch? Because again, 436 00:24:14,240 --> 00:24:16,000 Speaker 3: we run and make things really really cool. But we 437 00:24:16,040 --> 00:24:18,080 Speaker 3: have to think about before before I talk about this 438 00:24:18,119 --> 00:24:22,239 Speaker 3: brand before I join this platform. What impact is it 439 00:24:22,280 --> 00:24:24,639 Speaker 3: going to have on my community, my culture, and how 440 00:24:24,680 --> 00:24:25,919 Speaker 3: can we benefit the most from it? 441 00:24:27,480 --> 00:24:30,520 Speaker 2: You know, I see I've seen you know, these other 442 00:24:30,600 --> 00:24:35,240 Speaker 2: platforms put together effectively. If you're Adam Mosery or Evan 443 00:24:35,320 --> 00:24:37,800 Speaker 2: Spiegel or Mark Zuckerberg, you can put your thumb on 444 00:24:37,840 --> 00:24:41,080 Speaker 2: the scale and make a star tomorrow because you can 445 00:24:41,200 --> 00:24:42,880 Speaker 2: amplify that person. 446 00:24:42,560 --> 00:24:44,040 Speaker 1: Who you decide to choose. 447 00:24:44,560 --> 00:24:48,080 Speaker 2: And so I've seen these these these platforms put together, 448 00:24:48,200 --> 00:24:51,159 Speaker 2: these collectives or you know, we're going to support this 449 00:24:51,440 --> 00:24:54,840 Speaker 2: ten twenty one hundred, you know, creators with a little 450 00:24:54,840 --> 00:24:57,680 Speaker 2: bit of resources, and we're gonna, you know, amplify them. 451 00:24:58,200 --> 00:25:00,439 Speaker 2: I wonder what you think when you see things like 452 00:25:00,480 --> 00:25:04,200 Speaker 2: that and how you might approach them, if differently or 453 00:25:04,240 --> 00:25:04,520 Speaker 2: the same. 454 00:25:05,600 --> 00:25:07,520 Speaker 3: Well, the first thing that I try to approach is 455 00:25:07,960 --> 00:25:11,320 Speaker 3: for and this is always an open conversation and I 456 00:25:11,359 --> 00:25:16,000 Speaker 3: say this all the time, is with equity. You know, uh, 457 00:25:16,359 --> 00:25:20,080 Speaker 3: DJ Academics does not own part of Rumble. He doesne 458 00:25:20,119 --> 00:25:22,879 Speaker 3: have equity in Rumble. Kysanot does not have equity in Twitch. 459 00:25:23,320 --> 00:25:27,440 Speaker 3: Aiden Ross has equity, and kick Right Charlie Demilio has 460 00:25:27,480 --> 00:25:32,640 Speaker 3: equity in the in the financial company step, Bryce Hall 461 00:25:32,880 --> 00:25:37,199 Speaker 3: has equity and a company called Lolly and equity is 462 00:25:37,200 --> 00:25:40,600 Speaker 3: how you turn millionaires and people into billionaires and so 463 00:25:40,680 --> 00:25:44,760 Speaker 3: number one fan base having having the ability for people 464 00:25:44,800 --> 00:25:48,960 Speaker 3: to invest if they so choose, or you know, have 465 00:25:49,040 --> 00:25:53,400 Speaker 3: conversations about equity compensation the same way that Nike had 466 00:25:53,440 --> 00:25:55,840 Speaker 3: conversations with Magic Johnson when they were the little guy 467 00:25:55,880 --> 00:25:57,560 Speaker 3: in town, and Magic was like, I give me the 468 00:25:57,600 --> 00:26:01,560 Speaker 3: cash I can, but if you would have kept that, 469 00:26:01,640 --> 00:26:03,159 Speaker 3: if you would have took that stock, he would have 470 00:26:03,200 --> 00:26:06,720 Speaker 3: had six billion dollars in Nike stock. And I mean 471 00:26:06,920 --> 00:26:09,639 Speaker 3: Magic turned out doing fine, he did very, very well. 472 00:26:09,960 --> 00:26:13,119 Speaker 3: But the point is that I approached this because I 473 00:26:13,119 --> 00:26:17,359 Speaker 3: want to empower investors and users to own part of 474 00:26:17,400 --> 00:26:20,040 Speaker 3: fan base. It's part of the rays that we've we've 475 00:26:20,080 --> 00:26:22,360 Speaker 3: been so successful at. Right now, we have a seventeen 476 00:26:22,400 --> 00:26:26,600 Speaker 3: million dollar crowdfund. We're about to close that round pretty soon, 477 00:26:26,640 --> 00:26:30,000 Speaker 3: I think hopefully in the next few weeks. But again, 478 00:26:30,119 --> 00:26:32,320 Speaker 3: as many people that can own part of this company 479 00:26:32,800 --> 00:26:36,120 Speaker 3: and help it scale to to you know, multiple billions 480 00:26:36,119 --> 00:26:38,760 Speaker 3: of dollars, that is the part that I want to 481 00:26:38,760 --> 00:26:41,240 Speaker 3: be different, rather than just saying I can make you hot. 482 00:26:41,720 --> 00:26:44,400 Speaker 3: I want to I want to provide ownership and opportunity 483 00:26:44,520 --> 00:26:47,320 Speaker 3: and then monetization on the front end for people as well. 484 00:26:48,840 --> 00:26:52,280 Speaker 2: Yeah, I think about like what creates the fire in 485 00:26:52,320 --> 00:26:54,359 Speaker 2: your belly, like the thing that makes you want to go, 486 00:26:54,440 --> 00:26:56,560 Speaker 2: that sense of urgency. And I was, you know, reading 487 00:26:56,880 --> 00:26:59,120 Speaker 2: and you've been very vocal about you know, your father 488 00:26:59,119 --> 00:27:01,440 Speaker 2: could have missed out those seventy five million dollars in 489 00:27:01,640 --> 00:27:05,200 Speaker 2: copyright money. And so when you think about those kinds 490 00:27:05,200 --> 00:27:09,720 Speaker 2: of numbers, how do you think about the urgency that 491 00:27:09,880 --> 00:27:13,800 Speaker 2: gives you to make sure other creators don't miss these opportunities. 492 00:27:14,440 --> 00:27:18,720 Speaker 3: I mean, I think about my other family members who 493 00:27:18,720 --> 00:27:21,480 Speaker 3: were not as fortunate enough to either grow up in 494 00:27:21,520 --> 00:27:25,040 Speaker 3: Atlanta or find their way into the music industry. 495 00:27:25,119 --> 00:27:26,880 Speaker 4: My other brothers and sisters. 496 00:27:26,920 --> 00:27:30,320 Speaker 3: Who had a father that generated you know, tens of 497 00:27:30,320 --> 00:27:32,240 Speaker 3: millions of dollars, and they should have been able to 498 00:27:32,280 --> 00:27:35,720 Speaker 3: go to college and go home and ask dad for 499 00:27:35,800 --> 00:27:37,800 Speaker 3: a little bit of a loan to help them start 500 00:27:37,840 --> 00:27:40,240 Speaker 3: their business, like a lot of these white kids do. 501 00:27:40,800 --> 00:27:43,200 Speaker 3: And so what happens is that there are other people 502 00:27:43,240 --> 00:27:45,720 Speaker 3: that don't look like us that took advantage of my father, 503 00:27:46,480 --> 00:27:49,760 Speaker 3: again based off his culture, Black culture that are seeing 504 00:27:49,800 --> 00:27:53,159 Speaker 3: the benefit of his hard work. And so that's always 505 00:27:53,240 --> 00:27:56,359 Speaker 3: been top of mind for me in anything that I did, 506 00:27:56,440 --> 00:27:59,200 Speaker 3: even before getting to building fan base. It was just 507 00:27:59,240 --> 00:28:01,480 Speaker 3: the way that I coach in music business, because that's 508 00:28:01,480 --> 00:28:04,399 Speaker 3: why I think I had such a brief, kind of 509 00:28:04,480 --> 00:28:09,919 Speaker 3: a brief, semi successful run as a songwriter producer, because 510 00:28:09,960 --> 00:28:13,200 Speaker 3: I just would not compromise my publishing and the ownership 511 00:28:13,240 --> 00:28:16,600 Speaker 3: of my music. And so it drove me to always 512 00:28:16,600 --> 00:28:20,800 Speaker 3: think about ways that we can return that wealth to 513 00:28:21,359 --> 00:28:25,040 Speaker 3: Black people by way of ownership and equity, as opposed 514 00:28:25,040 --> 00:28:27,360 Speaker 3: to just saying, hey, we're going to pick the three, four, 515 00:28:27,520 --> 00:28:30,000 Speaker 3: five of you guys that are the coolest and make 516 00:28:30,040 --> 00:28:32,600 Speaker 3: you very, very rich and make you stars, and the 517 00:28:32,640 --> 00:28:35,040 Speaker 3: rest of the other Black community should just be happy 518 00:28:35,320 --> 00:28:38,320 Speaker 3: that they made it, and that should be the aspirational goal, right, 519 00:28:38,520 --> 00:28:41,040 Speaker 3: The aspirational goal of the black community should not be 520 00:28:41,040 --> 00:28:44,120 Speaker 3: able to mimic the mimic the success of someone else 521 00:28:44,160 --> 00:28:49,160 Speaker 3: that was provided opportunity, as opposed to creating infrastructures that 522 00:28:49,680 --> 00:28:53,680 Speaker 3: generate wealth. I can't, you know, as happy as I 523 00:28:53,720 --> 00:28:57,560 Speaker 3: am for all of the wealthy and rich African American 524 00:28:57,600 --> 00:29:01,320 Speaker 3: people that exists in this country and around the world. 525 00:29:01,760 --> 00:29:06,800 Speaker 3: The larger conversation needs to be about ownership and an 526 00:29:06,840 --> 00:29:09,840 Speaker 3: ownership of that infrastructure of these platforms that they use. 527 00:29:10,120 --> 00:29:12,320 Speaker 3: When I speak about black culture, if you take black 528 00:29:12,360 --> 00:29:15,000 Speaker 3: culture and you treat it like water or some sort 529 00:29:15,040 --> 00:29:17,840 Speaker 3: of magical liquid, and you pour that culture into a 530 00:29:17,880 --> 00:29:20,840 Speaker 3: tennis shoe, you get a Jordan right. If you pour 531 00:29:20,960 --> 00:29:23,680 Speaker 3: that into a record company, you get hip hop. If 532 00:29:23,720 --> 00:29:26,400 Speaker 3: you pour that into a turntable, you get DJ culture. 533 00:29:26,600 --> 00:29:29,440 Speaker 3: If you pour that into a phone, you get social media. 534 00:29:29,800 --> 00:29:32,120 Speaker 3: So you pour that into the fashion industry, you get 535 00:29:32,400 --> 00:29:35,240 Speaker 3: streetwear and all these cool things that people do. And 536 00:29:35,360 --> 00:29:39,880 Speaker 3: so we can no longer exist as just an instrument 537 00:29:40,560 --> 00:29:46,040 Speaker 3: of wealth building without having massive amounts of ownership an 538 00:29:46,120 --> 00:29:47,320 Speaker 3: opportunity in the space. 539 00:29:48,280 --> 00:29:52,320 Speaker 2: For the people who are winning on fan base, whether 540 00:29:52,440 --> 00:29:56,400 Speaker 2: they're getting all the likes the loves on the awareness 541 00:29:56,400 --> 00:29:59,800 Speaker 2: society engagement side and then making money on the other side, 542 00:30:00,520 --> 00:30:04,680 Speaker 2: what are they doing differently than the people who may not. 543 00:30:04,720 --> 00:30:09,520 Speaker 3: Be I think they just they actually believe or understand well, 544 00:30:09,520 --> 00:30:10,800 Speaker 3: actually they're just showing up. 545 00:30:11,560 --> 00:30:11,720 Speaker 4: Right. 546 00:30:12,240 --> 00:30:14,680 Speaker 3: People are very very What I say about human beings 547 00:30:14,760 --> 00:30:18,320 Speaker 3: is we're transactional, we're generous, people will give you, we'll 548 00:30:18,360 --> 00:30:21,040 Speaker 3: tip you, right, and it doesn't seem like much. Like 549 00:30:21,080 --> 00:30:23,120 Speaker 3: I said, a penny doesn't seem like much until, like 550 00:30:23,720 --> 00:30:26,240 Speaker 3: you know, a million people give you one, and then 551 00:30:26,280 --> 00:30:31,760 Speaker 3: that's five thousand dollars your share of revenue on fan 552 00:30:31,840 --> 00:30:34,360 Speaker 3: base if a million people give you a penny. And 553 00:30:34,440 --> 00:30:37,240 Speaker 3: so I think we're getting into that phase where people 554 00:30:37,520 --> 00:30:41,560 Speaker 3: are understanding that the dopamine hit that you get from 555 00:30:41,800 --> 00:30:46,440 Speaker 3: likes and views and attention is one thing, but that 556 00:30:46,720 --> 00:30:49,680 Speaker 3: there's also the added layer which you can do that 557 00:30:49,720 --> 00:30:52,760 Speaker 3: on fan base, or the added layer that someone can 558 00:30:52,840 --> 00:30:57,080 Speaker 3: just tip you for what the content that you provide, 559 00:30:57,120 --> 00:31:00,320 Speaker 3: the humorous comment that you made that made them laugh, 560 00:31:00,400 --> 00:31:04,200 Speaker 3: that brought joy to their day, or the really amazing 561 00:31:04,320 --> 00:31:06,280 Speaker 3: gem that you brought in an audio room to a 562 00:31:06,320 --> 00:31:09,280 Speaker 3: conversation that someone feels like, Yo, what you just said 563 00:31:09,560 --> 00:31:12,800 Speaker 3: really inspired me. Here's fifty cents. Here's a dollar for 564 00:31:12,880 --> 00:31:15,959 Speaker 3: what you just said at scale over time. So I 565 00:31:16,000 --> 00:31:18,880 Speaker 3: just think they're living in the environment and understanding the 566 00:31:19,320 --> 00:31:23,440 Speaker 3: world and the opportunity that we exist in that content 567 00:31:23,520 --> 00:31:26,640 Speaker 3: monetization is just going to be the norm, and it's 568 00:31:26,680 --> 00:31:28,840 Speaker 3: not going to be something that people feel like guilty 569 00:31:28,880 --> 00:31:31,200 Speaker 3: over or feel forced to do. It's almost going to 570 00:31:31,240 --> 00:31:35,080 Speaker 3: be like customary, Like it's customary to tip somebody. Imagine 571 00:31:35,080 --> 00:31:36,920 Speaker 3: in the future, so it's like, man, they made a 572 00:31:36,960 --> 00:31:39,360 Speaker 3: really cool post, it's customary to throw them a couple 573 00:31:39,360 --> 00:31:43,200 Speaker 3: of cents because they contributed to that, to that conversation, 574 00:31:43,320 --> 00:31:44,880 Speaker 3: or they made something like that. And I think the 575 00:31:44,880 --> 00:31:47,640 Speaker 3: people on fan base are realizing that and they benefit 576 00:31:47,680 --> 00:31:49,560 Speaker 3: from that, and they live in that world because they 577 00:31:49,600 --> 00:31:52,320 Speaker 3: often talk about how they go to other platforms and 578 00:31:52,360 --> 00:31:54,480 Speaker 3: they're like, I love the attention that I get on 579 00:31:54,520 --> 00:31:56,760 Speaker 3: some of the other social media platforms, but I actually 580 00:31:56,800 --> 00:31:57,760 Speaker 3: make money off fan maatese. 581 00:31:57,800 --> 00:31:59,520 Speaker 4: I actually help pay my bills with. 582 00:31:59,600 --> 00:32:03,160 Speaker 3: The money that I make having content monetized on fan base, 583 00:32:03,200 --> 00:32:05,720 Speaker 3: either through tipping or subscription. And it's only going to 584 00:32:05,760 --> 00:32:08,240 Speaker 3: get better as the community grows, because now if you 585 00:32:08,280 --> 00:32:10,160 Speaker 3: have people that are making hundreds of dollars a month, 586 00:32:10,240 --> 00:32:12,720 Speaker 3: thousands of dollars a month on fan base, and we 587 00:32:12,760 --> 00:32:15,320 Speaker 3: have one point four million users, but that's nothing in 588 00:32:15,360 --> 00:32:18,640 Speaker 3: comparison to platforms that have five hundred million users, a 589 00:32:18,720 --> 00:32:20,680 Speaker 3: billion users and stuff like that. So when you get 590 00:32:20,680 --> 00:32:23,040 Speaker 3: to that level of scale, you're gonna have people that 591 00:32:23,080 --> 00:32:25,600 Speaker 3: earn a living just by doing things that they normally 592 00:32:25,640 --> 00:32:28,760 Speaker 3: would do on other social media platforms, but really be 593 00:32:28,840 --> 00:32:31,520 Speaker 3: able to pay their bills and live a great life 594 00:32:31,600 --> 00:32:34,680 Speaker 3: just being themselves. Again, be you without limits is just 595 00:32:34,720 --> 00:32:37,000 Speaker 3: something that our brand statement is. 596 00:32:37,040 --> 00:32:37,520 Speaker 4: And so the. 597 00:32:37,480 --> 00:32:40,800 Speaker 3: Ability to just be yourself, show up as your authentic self, 598 00:32:41,080 --> 00:32:48,200 Speaker 3: create content, comment like share, dm post whatever, and actually 599 00:32:48,560 --> 00:32:50,960 Speaker 3: from that the collateral impact of that as you're making 600 00:32:51,000 --> 00:32:52,280 Speaker 3: money on social media. 601 00:32:52,360 --> 00:32:52,840 Speaker 4: I love that. 602 00:32:52,920 --> 00:32:54,440 Speaker 3: And so that's the only thing that they're doing different 603 00:32:54,480 --> 00:32:56,360 Speaker 3: is that they are on fan Base. You're not going 604 00:32:56,400 --> 00:32:59,000 Speaker 3: to get that experience on any other platform that you 605 00:32:59,040 --> 00:33:03,440 Speaker 3: get on fan Base because they haven't built that into 606 00:33:03,480 --> 00:33:05,760 Speaker 3: the application, and they don't consider that because they care 607 00:33:05,800 --> 00:33:09,880 Speaker 3: about advertising. If the platform is not paying you directly, 608 00:33:09,880 --> 00:33:12,600 Speaker 3: which fan Base pays users directly, then you are what's 609 00:33:12,640 --> 00:33:13,120 Speaker 3: being sold. 610 00:33:13,200 --> 00:33:14,040 Speaker 4: So you are the product. 611 00:33:14,080 --> 00:33:16,000 Speaker 3: So you are the product on TikTok, you were the 612 00:33:16,080 --> 00:33:18,840 Speaker 3: product on Snapchat, you were the product on Instagram, you 613 00:33:18,840 --> 00:33:21,520 Speaker 3: were the product on all these other social media platforms. 614 00:33:22,320 --> 00:33:24,719 Speaker 3: And on fan Base, you create the product. You create 615 00:33:24,720 --> 00:33:27,080 Speaker 3: the content, and you're able to be paid for that. 616 00:33:28,720 --> 00:33:31,320 Speaker 2: I'm actually let you close this out, so last time 617 00:33:31,400 --> 00:33:33,400 Speaker 2: you give me on the show a few times. The 618 00:33:33,480 --> 00:33:36,320 Speaker 2: last time you own you were beginning this round. The 619 00:33:36,400 --> 00:33:38,440 Speaker 2: first time you were on, I think you were in 620 00:33:38,480 --> 00:33:42,840 Speaker 2: your first round. What is the latest at fan Base? 621 00:33:43,920 --> 00:33:48,120 Speaker 3: So we've done four equity crowdfunding rounds. This last one 622 00:33:48,240 --> 00:33:50,840 Speaker 3: is a seventeen million dollars round. We're getting close to 623 00:33:50,880 --> 00:33:53,560 Speaker 3: thirteen million dollars. But once we close this round, fan 624 00:33:53,600 --> 00:33:57,600 Speaker 3: Base will have raised twenty seven million dollars in equity crowdfunding, 625 00:33:57,720 --> 00:34:00,920 Speaker 3: which has never been heard of, no instant, titutional capital, 626 00:34:01,760 --> 00:34:09,880 Speaker 3: community driven owned by the users, you know, disruptive and 627 00:34:09,960 --> 00:34:12,520 Speaker 3: so anybody that wants to invest, I tell them go 628 00:34:12,520 --> 00:34:15,280 Speaker 3: to start engine dot com slash fan Base to invest 629 00:34:15,320 --> 00:34:17,160 Speaker 3: the minimum of its three hundred and ninety nine dollars. 630 00:34:17,200 --> 00:34:20,279 Speaker 3: I say that all the time. It's limited risk, right, 631 00:34:20,560 --> 00:34:22,240 Speaker 3: It's not like you have to put in ten thousand 632 00:34:22,239 --> 00:34:23,960 Speaker 3: dollars to actually get equity in the company. But it 633 00:34:23,960 --> 00:34:25,360 Speaker 3: gives you an opportunity to have a seat at the 634 00:34:25,400 --> 00:34:27,879 Speaker 3: table and then contribute to the value of what we're 635 00:34:27,880 --> 00:34:31,040 Speaker 3: building as a company. And so I'm proud of that. 636 00:34:31,080 --> 00:34:33,319 Speaker 3: These are things that have never been done. Will like 637 00:34:33,400 --> 00:34:36,840 Speaker 3: I talk about you know, my story is it's something 638 00:34:36,880 --> 00:34:39,000 Speaker 3: that I will continue to share, but I feel like 639 00:34:39,680 --> 00:34:42,759 Speaker 3: as the more success we get, people will really look 640 00:34:42,840 --> 00:34:47,080 Speaker 3: back on what's been done by way of innovation within 641 00:34:47,160 --> 00:34:52,800 Speaker 3: that purchase, peer to subscription, or content migration or equity 642 00:34:52,800 --> 00:34:55,480 Speaker 3: crowdfunding and allowing the users to own the app and 643 00:34:55,520 --> 00:34:58,520 Speaker 3: look at these are some real seismic shifts in the 644 00:34:58,560 --> 00:35:02,560 Speaker 3: way that people build old technology and corporations. Because twenty 645 00:35:02,560 --> 00:35:06,000 Speaker 3: seven million dollars inequity crowdfunding has never been done by 646 00:35:06,040 --> 00:35:09,080 Speaker 3: an African American person ever. So we've made history and 647 00:35:09,120 --> 00:35:12,040 Speaker 3: I want to continue to make history. So I want 648 00:35:12,080 --> 00:35:14,160 Speaker 3: to continue to be disruptive. I want to continue to 649 00:35:15,280 --> 00:35:18,600 Speaker 3: shape the way that I think media and the social economy, 650 00:35:18,600 --> 00:35:23,120 Speaker 3: as I call it, the combination of TV community, monetization, 651 00:35:24,920 --> 00:35:29,279 Speaker 3: and social media kind of merging together and making this 652 00:35:29,480 --> 00:35:32,880 Speaker 3: new way that we experienced media. It's a future. So 653 00:35:32,880 --> 00:35:35,800 Speaker 3: I would love to be having this conversation again somewhere 654 00:35:35,840 --> 00:35:37,799 Speaker 3: down the line year two, three, four years from now, 655 00:35:37,800 --> 00:35:40,440 Speaker 3: and we're like, yo, the world is exactly where you 656 00:35:40,520 --> 00:35:42,520 Speaker 3: thought it would be, Isaac, and fan base is the 657 00:35:42,560 --> 00:35:45,200 Speaker 3: person that led us to that new world. 658 00:35:46,400 --> 00:35:48,800 Speaker 2: Black Tech Green one is a production of Blavity Afro 659 00:35:48,960 --> 00:35:51,480 Speaker 2: Tech on the Black Effect Podcast Network in night Hire 660 00:35:51,560 --> 00:35:54,760 Speaker 2: Media is produced by Morgan Debon and me Well Lucas, 661 00:35:55,120 --> 00:35:58,600 Speaker 2: with the additional production support by Kate McDonald, sh Jayda 662 00:35:58,680 --> 00:36:02,000 Speaker 2: McGee special thank you Michael Davis in Lovebeach. Learn more 663 00:36:02,000 --> 00:36:04,799 Speaker 2: about my guessing other tech distructs an innovators at afrotech 664 00:36:04,840 --> 00:36:07,719 Speaker 2: dot com. The video version of this episode will drop 665 00:36:07,760 --> 00:36:09,920 Speaker 2: to Black Tech Green Money on YouTube, so tap in 666 00:36:10,760 --> 00:36:13,719 Speaker 2: enjoy your Black Tech Green Money, share us to somebody, 667 00:36:14,280 --> 00:36:15,080 Speaker 2: go get your money. 668 00:36:15,680 --> 00:36:16,319 Speaker 4: Pace in Love