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Speaker 2: The students teach themselves just as much as the professors do.

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Speaker 2: We have weekly webinars. We have over one hundred past webinars.

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Speaker 2: You get access to MG the Mortgage Guys real Estate Blueprint.

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Speaker 2: You get access to monthly financial planning calls.

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Speaker 3: With yours Truly.

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Speaker 2: You get access to our monthly group chat investment calls,

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Speaker 2: and much much more. So go to eyl university dot

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Speaker 2: blowout sales sixty five percent off of the ANNI room

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Speaker 2: membership eyouniversity dot com right now. All right, guys, welcome

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Speaker 2: back EYL. This is an episode that I'm looking forward to.

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Speaker 2: Me and Troy both looking forward to it. So when

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Speaker 2: I first got introduced to the gentleman Troy Carter, it

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Speaker 2: was on Clubhouse and there was I was on there

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Speaker 2: as a panelist. I got brought in. I think wal

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Speaker 2: Street Trapper brought me in. Somebody brought me in, and

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Speaker 2: it was the conversation with a bunch of people. I

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Speaker 2: think Meek Mill was in there, Swiss Beach was in there, yeah, remember,

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Speaker 2: and and Troy was in there. And that was the

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Speaker 2: first time I actually heard about mister Carta. And you know,

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Speaker 2: I forgot what the conversation was about cryptos something like that,

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Speaker 2: So you know, I said a couple of words, but

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Speaker 2: I was mainly just listening, and he really piqued my

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Speaker 2: interest because he was talking about art and we all

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Speaker 2: know that Swiss is a heavy art investor, and but

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Speaker 2: you know, it's something that we haven't really covered before.

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Speaker 2: So I was like interested in just learning about art.

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Speaker 2: And from my understanding, correct me if I'm wrong, But

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Speaker 2: I think he's the one that actually got Swiss into art.

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Speaker 4: Is that true? Mentored him into that?

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Speaker 5: No, Actually, it's funny enough. Swiss was the Swiss actually

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Speaker 5: put me onto art early, but before I started collecting.

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Speaker 5: So I went to his house out when he was

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Speaker 5: living in the cat Skills, and he had this incredible

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Speaker 5: collection sho I didn't even know what, what, who anybody

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Speaker 5: was as he was as he named them off. But

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Speaker 5: I started probably collecting a few years after that. So yeah,

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Speaker 5: so that was the Swiss put me onto a lot

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Speaker 5: of stuff.

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Speaker 4: Okay, what was he living in the Catskills?

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Speaker 6: I might I thought you were gonna say he was

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Speaker 6: living in Jersey.

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Speaker 4: I was.

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Speaker 5: I was in the city and and Swiss said, they

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Speaker 5: come out to see him, and I'm thinking it's going

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Speaker 5: to be, you know, just a short ride out and

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Speaker 5: I go all the way out to the cat Skills

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Speaker 5: uh to see.

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Speaker 4: Him shout shout out to Swiss.

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Speaker 2: So so then I started to do my research and

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Speaker 2: I realized that he's a true renaissance man. So founding

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Speaker 2: the CEO of Q and A, which is a tech

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Speaker 2: and media company, but before that, founding CEO of Adam Factory.

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Speaker 2: So he managed uh, Lady Gaga and John Legend, a

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Speaker 2: few people you might Daniel Spotify, head of Global Creative

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Speaker 2: Creative Services, Entertainment Advisor for the Princess State.

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Speaker 4: That's big.

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Speaker 2: And then he's an invested as well, an early investor

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Speaker 2: into a couple of companies that you might have heard of,

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Speaker 2: Uber Lyft, Dropbox, Spotify, warby Parker Blavity, Gambling Media shout

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Speaker 2: to John Henry and Phase Clan. That's crazy because I

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Speaker 2: found out about Phase Plan for my son the game

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Speaker 2: shout out and not say it.

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Speaker 4: He's a huge gamer.

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Speaker 7: And about it from my sons too.

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Speaker 2: Okay, Yeah, that Phase Plan is serious, man.

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Speaker 4: I think Brownie is part of the Phase Plan.

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Speaker 2: And then he's also a trustee on uh the aston

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Speaker 2: Aspen Institute, l a County Museum of Art. He's an

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Speaker 2: art collector and then he had early start with Will

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Speaker 2: Smith and Diddy welcome into Wait.

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Speaker 3: Wait we left one out.

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Speaker 6: He was he was named by the Big Boss, Oprah

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Speaker 6: Winfrey the Super Soul's one hundred lists of influencers and visionaries.

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Speaker 2: So when I was finding out about it, I'm like, Yo,

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Speaker 2: you gotta get him on the show.

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Speaker 4: Earn your Lisha is the big, the biggest, the Big Show.

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Speaker 4: Sound like, we gotta get him on there.

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Speaker 2: But I didn't really know if you had a social

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Speaker 2: media it's kind of a hard guy to track down.

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Speaker 2: So shout out to the good folks at uh thank

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Speaker 2: you Nicole and Black.

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Speaker 4: Effect from connecting the dots on it.

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Speaker 2: So this is going to be a fun conversation, educational conversation.

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Speaker 2: So first and foremost, thank you for joining us. Appreciate

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Speaker 2: it now listen.

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Speaker 5: I'm I'm happy to be here, man, I'm loving what

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Speaker 5: you guys are doing. So you know when they hit

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Speaker 5: me last week, I'm definite, definitely wanted to be supportive.

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Speaker 7: This is great.

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Speaker 4: I appreciate it. Appreciate it. So let's jump let's jump

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Speaker 4: right into it. West Philadelphia born and raised.

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Speaker 6: It's very fitting playground if anybody fits that line, it.

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Speaker 2: Is definitely so, so you got an interest in life story. Man,

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Speaker 2: Let's let's start at the beginning. So you you were

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Speaker 2: signed to Will Smith's record label.

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Speaker 5: Yeah, when when I was in in ninth ninth grade,

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Speaker 5: we me and my two best friends started a rap

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Speaker 5: group and and and it was this thing where one

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Speaker 5: of one of the guys said, if we meet Jazzy

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Speaker 5: Jeff and Fresh Prince, they're going to give us a

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Speaker 5: record deal. So we just, you know, would go down

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Speaker 5: to their studio constantly and just wait outside to try

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Speaker 5: to try to meet them. And then one day we

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Speaker 5: were able to so and and you know quickly found

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Speaker 5: out how terrible we were.

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Speaker 6: But you didn't let that ruin the networking uh chance

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Speaker 6: that you had, because you still started working with Jeff.

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Speaker 5: Right. Yeah, you know what, Like you know what, what

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Speaker 5: I tell my my my sons and my daughter is like,

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Speaker 5: you just never know what path life takes you on.

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Speaker 5: So it's like sometimes you just got to go with

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Speaker 5: the flow. And when things don't necessarily go your way,

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Speaker 5: it doesn't it doesn't necessarily mean it's going the wrong way.

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Speaker 5: It's just not going away that that that you planned

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Speaker 5: on it going. And so you know, meet and Will

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Speaker 5: and those guys. They took me under their wing and

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Speaker 5: and I really was was able to learn uh the

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Speaker 5: business from Will and his manager James Lassiter.

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Speaker 6: Yeah yeah, so that that's interesting. So you stay in

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Speaker 6: contact with James Latti, sir, and that leads you to

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Speaker 6: doing some party promotion.

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Speaker 7: Yeah, that was so that that was like my hustle

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Speaker 7: in Philly.

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Speaker 5: Like so where where I got lucky because a lot

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Speaker 5: of the guys in the neighborhood sort of they they

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Speaker 5: they they protected me from having to do other stuff.

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Speaker 5: So so like guys who used to hustle, and and

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Speaker 5: you had stick up boys from my neighborhood. You had,

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Speaker 5: you know, guys who hustled, You had, you know, people

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Speaker 5: who did all all kinds of things. I was. I

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Speaker 5: was able to do what I love, which was music

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Speaker 5: and just and I had people in my neighborhood. This

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Speaker 5: is like the nineteen nineties version of go fund me

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Speaker 5: was just people from the neighborhood give you some money

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Speaker 5: to throw a party. So I started throwing parties. I

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Speaker 5: bought Wu Tang Clan a Philly for their first time,

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Speaker 5: jay Z's first time, Foxy.

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Speaker 7: Brown, Kim Biggie.

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Speaker 5: So like all of those shows in like the like

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Speaker 5: the mid nineties. It was me and Uh and my

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Speaker 5: big brother Charlie Mack out of Philly that was doing a.

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Speaker 6: Lot of that's a Charlie Mac. That name is legendary

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Speaker 6: and Philly and definitely in the music industry.

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Speaker 5: Yes, so that was my hustle.

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Speaker 4: So any transition to working with Diddy? How did that

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Speaker 4: come about?

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Speaker 5: I actually met I met Puff because I was a

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Speaker 5: big was a no show for one of my concerts

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Speaker 5: and it was actually my first big show, and I

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Speaker 5: was throwing it on Penn's campus, University of Penn's campus,

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Speaker 5: and Big was supposed to go on. And I got

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Speaker 5: a call from his manager, who was Mark Pitts at

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Speaker 5: and telling me that Big was shooting the video for

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Speaker 5: Big Poppa and couldn't make it down. And I got

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Speaker 5: into an argument with Puff on the phone, cursing me

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Speaker 5: out of curse him out. They still come down to

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Speaker 5: Philly for the after party, and and it was and

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Speaker 5: Puff was like a legend and hip and like, but

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Speaker 5: not big at that time. He wasn't huge. But in

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Speaker 5: terms of black culture and entrepreneurship, if you were in

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Speaker 5: the music business, you wanted to be Puff and and

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Speaker 5: and seeing him at that club that night we all

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Speaker 5: went out to an after party. He he basically just

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Speaker 5: commanded the room and I asked him for the internship,

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Speaker 5: and uh he said, you know, get me that girl

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Speaker 5: from behind the bar's number and that'll be your first job.

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Speaker 7: And so that was that was my first job I got.

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Speaker 7: I got Puffed the number.

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Speaker 4: There you have it. He's necessary.

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Speaker 3: It could have been he could have sent you to

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Speaker 3: get a Philly cheese sticks. But that was easy.

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Speaker 2: It's crazy, you say the big story because I don't

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Speaker 2: know if you see the albums that we have in

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Speaker 2: back of us, but that's a big.

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Speaker 7: Yeah, was that it was one of my favorites of

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Speaker 7: all time.

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Speaker 4: That's crazy. So you paid, you paid him and he

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Speaker 4: just didn't show.

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Speaker 7: Huh.

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Speaker 5: Well, what Puff did? He told he told them to

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Speaker 5: give me my money back, and then for the next show,

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Speaker 5: they gave me a discount on the next show. And

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Speaker 5: I probably did maybe three or four biggie shows after

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Speaker 5: that in Philly.

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Speaker 2: So let's let's fast forward a little bit. Because you

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Speaker 2: have extensive resuments. I want to make sure we can

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Speaker 2: cover everything. So how did you get involved in management?

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Speaker 2: Because the story is pretty legendary. I guess she was

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Speaker 2: down on your luck and Lady Gaga comes out of

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Speaker 2: the sky. So how does that story come as far

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Speaker 2: as the management and finding uh Lady Gaga, Well, well.

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Speaker 7: Eve gave me my first shot at management.

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Speaker 5: And and so with Eve, she was I knew I

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Speaker 5: knew her from Philly and I was helping her actually

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Speaker 5: find a manager because she she was kind of looking

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Speaker 5: for a new management situation and she just gave me

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Speaker 5: the opportunity to do it. And so I worked with

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Speaker 5: Eve for about seven, seven or eight years, and then

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Speaker 5: and I sold my the company that I that I built.

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Speaker 5: I sold it to a company called Sanctuary out of London,

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Speaker 5: and and at that time we were managing Beanie Siegull,

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Speaker 5: Eve Freeway, a bunch of acts, and we sold that business.

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Speaker 5: I moved to California to work for the company that

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Speaker 5: I sold it to, and and it it just wasn't

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Speaker 5: a great experience, you know. After about a year and

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Speaker 5: a half in, I'm like, Okay, this isn't the right fit.

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Speaker 5: And and that was my first experience of learning about

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Speaker 5: sort of culture and hot like where money can't buy

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Speaker 5: you certain things. And that was like my first real

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Speaker 5: check that I got, and but it didn't make me happy.

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Speaker 5: And and and I always had this thing. As crazy

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Speaker 5: as it sounds, it was it was unimaginable, like for

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Speaker 5: me to even make one hundred thousand dollars in my

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Speaker 5: like like just because like my goals was like if

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Speaker 5: I could make a thousand dollars a week, I'd be set,

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Speaker 5: you know, Like that was my thing I had in

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Speaker 5: my mind. And I remember writing down just all my

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Speaker 5: goals as a kid, and and like every year I

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Speaker 5: would just would write new stuff. And I had this

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Speaker 5: goal to be to make a million dollars by the

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Speaker 5: time I turned thirty. And for Father's Day of my

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Speaker 5: I think it was thirty when I was thirty one,

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Speaker 5: For Father's Day, my wife and my mom gave me

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Speaker 5: this gift and I opened it up and it was

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Speaker 5: this scrapbook and my mom had saved every single letter

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Speaker 5: that I wrote to myself as a kid. And in

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Speaker 5: that I accomplished every single thing, almost everything that I

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Speaker 5: wanted to do from like like right, literally it is unimaginable.

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Speaker 5: And but what I noticed, I'm like it didn't change

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Speaker 5: my life in terms of happiness. So because working where

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Speaker 5: artists made me happy. Working on music made me happy.

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Speaker 5: Being part of the culture made me happy, and working

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Speaker 5: for this company didn't. So I went and tried to

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Speaker 5: buy the company back. They wouldn't sell it back. Company

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Speaker 5: ended up going their company ended up going bankrupt. I

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Speaker 5: was able to get out of the deal. And when

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Speaker 5: I started over, I put all I had, put the

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Speaker 5: money I made into the new company. I put the

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Speaker 5: money I made into buying a house. I bought a

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Speaker 5: couple of cars.

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Speaker 7: You know.

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Speaker 5: I did everything that you I blew it pretty much.

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Speaker 5: And then Eve fired me right right when I started

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Speaker 5: the new company. So I had to start all over

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Speaker 5: from from scratch essentially. And so around that time, somebody,

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Speaker 5: a friend of mine, introduced me to a new artist

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Speaker 5: that he was going to fly out to audition and

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Speaker 5: and and that artist was was Lady Gaga.

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Speaker 2: Can I can we can we unpack that a little

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Speaker 2: bit as far as the selling the company? All right,

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Speaker 2: So you built up a management company.

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Speaker 3: This is Irving Wonder you're speaking of, right, yeah Wonder?

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Speaker 4: Okay, So you built.

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Speaker 2: Up you build up the management company, and all of

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Speaker 2: the Philly artists free way you said, uh yeah, legends.

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Speaker 2: So you got a nice thing who's on the rocks

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Speaker 2: Philly is Freeway.

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Speaker 5: H Oskino and Sparks. So all of the stuff that

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Speaker 5: was at Rocket the state property on the state property exactly.

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Speaker 5: So we had the whole state property essentially. We had

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Speaker 5: Eve as well. We managed Calise. Then we partner with

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Speaker 5: Tony Davis on Nelly Flow of three. Yeah, so that

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Speaker 5: was that was the roster.

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Speaker 4: Okay, so you got a nice thing I wanted. I

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Speaker 4: got a lot of questions about management. My first question is.

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Speaker 2: What is the percentage that managers get Paid's like five

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Speaker 2: percent of everything that they booked for or is it

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Speaker 2: higher than that? Like what what's the how does that

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Speaker 2: business model work?

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Speaker 5: It's usually somewhere between ten and twenty percent, depending on

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Speaker 5: the size of the artists. So if it's a development

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Speaker 5: artist that you're starting from scratch, usually is twenty percent.

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Speaker 5: If you're coming into a superstars business, usually it's around

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Speaker 5: ten percent.

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Speaker 6: So you're at the height in the early two thousands,

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Speaker 6: we're talking Nelly the height of his career.

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Speaker 3: You're talking about Eve the high of her career.

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Speaker 6: So those percentages changed because when you when you met Eva,

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Speaker 6: was she just starting or had she put out an

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Speaker 6: album ready? She was just starting, okay, so then she

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Speaker 6: probably fits in that scale of that twenty range.

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Speaker 7: Yeah, exactly, exactly.

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Speaker 5: Yeah, I think Eve was probably Eve was fifteen because

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Speaker 5: I was just starting and it's uh, okay, I would

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Speaker 5: have done that one for free, by the way, because

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Speaker 5: she's given me an opportunity.

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Speaker 7: But so yeah, so that was fifteen.

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Speaker 2: So it's fifteen percent roughly, and just on everything that

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Speaker 2: you can get for them to like endorsement deals, shows, whatever,

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Speaker 2: anything that you're responsible for.

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Speaker 4: Is that correct?

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Speaker 5: Yeah, So the manager kind of sits in the center

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Speaker 5: of like you think of it like a hub and

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Speaker 5: spokes essentially, So the manager kind of sits in the

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Speaker 5: center and manages the relationship with the record companies, the

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Speaker 5: music publishers, concert promoters, brands that may pay for endorsements,

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Speaker 5: and so basically you get you is a commission based business,

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Speaker 5: so you commit as.

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Speaker 7: The client makes money. Essentially.

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Speaker 5: You know, the downside is that if the client doesn't

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Speaker 5: doesn't make money, you don't make money. But what's good

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Speaker 5: is that the incentives aren't aligned at the end of

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Speaker 5: the day, so it's not like you're making money when

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Speaker 5: the client doesn't make money.

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Speaker 2: So it's in your best interest to make sure that

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Speaker 2: they're making money, because then you make money.

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Speaker 7: Yeah, or you don't have a job.

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Speaker 3: Right. Did you go into when you created Irving wonder?

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Speaker 5: Uh?

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Speaker 6: Did you go into it saying we're going to build

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Speaker 6: this to a point so that we can sell it.

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Speaker 6: And when you did sell it, what was the type

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Speaker 6: of valuation that you put on on the company?

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Speaker 5: Yeah? So I never I never did. I didn't do

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Speaker 5: it for knowing that I could go I could even

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Speaker 5: build a company, to be honest with you, like like

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Speaker 5: for me, it was the company was me managing Eve

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Speaker 5: out of my living room, you know, with no employees

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Speaker 5: or anything like that or whatever. So it wasn't even

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Speaker 5: it wasn't even an incorporation at that time. So it

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Speaker 5: just was more of let me, let me protect her,

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Speaker 5: let me just see what we could build together. And

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Speaker 5: it was a legendary manager Chris Lighty, who gave me

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Speaker 5: some office space in New York where he said, do

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Speaker 5: you know what, come up and learn from us, you

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Speaker 5: know if you want to as well.

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Speaker 7: And that's so that's what I did. And I didn't

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Speaker 7: even know.

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Speaker 5: And even once we built a company and started managing

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Speaker 5: more clients, honestly, I didn't even know you could sell

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Speaker 5: a management company until Matthew Knowles, Beyonce's dad, approached me.

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Speaker 5: And he had sold his company at the Sanctuary and

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Speaker 5: he was building out their urban division and he approached

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Speaker 5: me about about buying my company and me being his

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Speaker 5: number two over there. And to be honest, I didn't

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Speaker 5: know how to value the company. We didn't keep great records.

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Speaker 7: We didn't you know.

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Speaker 5: They they said we need to start doing due diligence

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Speaker 5: and this is pre Google really, so you know, we

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Speaker 5: you didn't really have a way to even know what

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Speaker 5: due diligence was. So it's like and in hip hop

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Speaker 5: back then, we would take cash. So because I didn't

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Speaker 5: want to if somebody was booking a show, I couldn't

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Speaker 5: trust that the guy in Memphis was gonna not pay

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Speaker 5: me when we showed up or whatever. So it's like or,

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Speaker 5: you know, we took cash and everything. So we didn't

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Speaker 5: have a lot of great records. We you know, it

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Speaker 5: was so they trusted us on a lot of stuff.

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Speaker 5: We had to pull together a lot of stuff and

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Speaker 5: and and to Beyonce's dad's credit, Matthew Knowles, he basically

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Speaker 5: helped us determine what evaluation was. And he he honestly

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Speaker 5: changed my life in my family's life in terms of

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Speaker 5: being able to give me an opportunity and to be

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Speaker 5: able to know what success looked like and what it

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Speaker 5: felt like like and for a black man and make

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Speaker 5: another black man a millionaire.

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Speaker 7: Is just is A is A is a beautiful thing,

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Speaker 7: that is true.

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Speaker 2: A couple of a couple of questions about that. So, artists,

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Speaker 2: are you signing like a manager? Are they signed to

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Speaker 2: like a year two years for you?

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Speaker 4: Like?

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Speaker 2: Are they signed or it's just like a handshake agreement

384
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Speaker 2: and as long as things go good. But if you're

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Speaker 2: not happy, you just leave. Because I see people leave

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Speaker 2: their managers all the time. And I wasn't sure if

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Speaker 2: there was like contracts in place where you have to

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Speaker 2: stay with this manager for a period of time.

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Speaker 5: Yeah, it depends. Even I worked together for like I said,

390
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Speaker 5: almost eight years. We never had a contract, and you know,

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Speaker 5: it was just handshake. And and I know a lot

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Speaker 5: of people like I don't think Latifa and shot Kim

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Speaker 5: have a contract. They've been together for thirty something years.

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Speaker 5: And you know Will Smith and James you know, so

395
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Speaker 5: the same same thing or whatever, and you know, there's

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Speaker 5: a lot of acts that I know that you know

397
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Speaker 5: that are like that, and so where you just have

398
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Speaker 5: that relationship and and then sometimes their contracts and that

399
00:21:15,359 --> 00:21:18,760
Speaker 5: those contracts can be as short as one or two years,

400
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Speaker 5: or they could be you know, up to six or

401
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Speaker 5: seven years. So it just sort of depends on the relationship.

402
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Speaker 5: But there's no there's no real set rules to it.

403
00:21:28,600 --> 00:21:28,800
Speaker 4: Yeah.

404
00:21:28,840 --> 00:21:32,000
Speaker 6: So I mean, obviously you sell the company, but you

405
00:21:32,119 --> 00:21:34,840
Speaker 6: sit there and I'm wondering the level of regret was

406
00:21:35,000 --> 00:21:37,320
Speaker 6: did that sit in with you or was it you know,

407
00:21:37,400 --> 00:21:40,439
Speaker 6: what my family's life has changed now financially, or was

408
00:21:40,480 --> 00:21:43,199
Speaker 6: there regret in selling it? Knowing that this was my

409
00:21:43,280 --> 00:21:45,479
Speaker 6: baby that I let go and I don't like how

410
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Speaker 6: this is going right now?

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Speaker 5: So so I sold. I sold to to management companies

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Speaker 5: and both times I had sellers remorse. And because people

413
00:21:57,480 --> 00:22:00,760
Speaker 5: always talk about buyers remorse and I and I learned

414
00:22:01,119 --> 00:22:05,639
Speaker 5: about seller's remorse because you know, where I'm an entrepreneur

415
00:22:05,680 --> 00:22:11,600
Speaker 5: by nature, It's something about me where I like to

416
00:22:11,600 --> 00:22:15,280
Speaker 5: control my own destiny in terms of you know, just

417
00:22:15,400 --> 00:22:21,159
Speaker 5: what I do, the decisions that I make. Honestly, a

418
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Speaker 5: lot of my personal identity is tied into me being

419
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Speaker 5: an entrepreneur, and it.

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Speaker 7: Felt like I had a boss and.

421
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Speaker 5: That really messed with me, like just from a pride

422
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Speaker 5: standpoint of And I'm not saying anything's wrong with that

423
00:22:39,080 --> 00:22:43,080
Speaker 5: at all, because I feel like, you know, it's everybody

424
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Speaker 5: needs to do what they have to do to make

425
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Speaker 5: a living. But for me, what it was was that

426
00:22:50,720 --> 00:22:56,520
Speaker 5: I worked really hard to build these companies. I put

427
00:22:56,640 --> 00:22:59,639
Speaker 5: a lot of pride and love into the work that

428
00:22:59,720 --> 00:23:02,440
Speaker 5: I do, and then too the clients that I represent,

429
00:23:03,160 --> 00:23:07,159
Speaker 5: and for people to treat it like a number or

430
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Speaker 5: a transaction after it's done, that really bothered me. And

431
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Speaker 5: it's like because what I realized was working with other companies,

432
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Speaker 5: it was all about money for with those other companies,

433
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Speaker 5: I've never I've never done anything purely for money, never,

434
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Speaker 5: and like for that that that to me just it

435
00:23:26,560 --> 00:23:27,760
Speaker 5: just didn't sit right with me.

436
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Speaker 4: How much did you sell it for.

437
00:23:31,680 --> 00:23:35,800
Speaker 5: The first the first company we sold for uh, I

438
00:23:35,880 --> 00:23:38,240
Speaker 5: think for four and a half something like four and

439
00:23:38,240 --> 00:23:39,760
Speaker 5: a half million for the first company.

440
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Speaker 2: Well, that's interesting because it's like, for me, that's a

441
00:23:43,440 --> 00:23:47,360
Speaker 2: risky proposition for somebody to buy because it's like you're

442
00:23:47,400 --> 00:23:50,280
Speaker 2: dealing with artists and their careers could be over at

443
00:23:50,320 --> 00:23:53,159
Speaker 2: any given moment. And if there's not even like a

444
00:23:53,200 --> 00:23:56,520
Speaker 2: contract in place with these artists, I mean, you're just

445
00:23:56,600 --> 00:24:01,240
Speaker 2: buying a relationship. But how do you value a relationship

446
00:24:01,240 --> 00:24:03,280
Speaker 2: because that relationship could be over tomorrow.

447
00:24:03,960 --> 00:24:05,880
Speaker 7: That's a that's real talk.

448
00:24:06,040 --> 00:24:08,000
Speaker 5: And and you know, and that's the credit that I

449
00:24:08,080 --> 00:24:10,480
Speaker 5: give Matthew for, you know, for being able to bet

450
00:24:10,520 --> 00:24:14,400
Speaker 5: on us. And and the other piece of it too

451
00:24:14,840 --> 00:24:18,080
Speaker 5: is that they're buying you know, a lot of the

452
00:24:18,119 --> 00:24:21,919
Speaker 5: companies who buy management companies are buying cash flow, you know,

453
00:24:22,160 --> 00:24:24,880
Speaker 5: and and there's a good cash flow business. So that's

454
00:24:24,920 --> 00:24:27,720
Speaker 5: so the companies are essentially buying cash flow.

455
00:24:28,840 --> 00:24:31,160
Speaker 6: Yeah based and at that time, the artists that you've

456
00:24:31,160 --> 00:24:36,280
Speaker 6: had with smoking, So that that helps, right, But when

457
00:24:36,320 --> 00:24:38,359
Speaker 6: it starts to slow down, I guess, and this is

458
00:24:38,400 --> 00:24:40,359
Speaker 6: like two thousand and six, when when you realize, like,

459
00:24:40,680 --> 00:24:42,760
Speaker 6: all right, this is not working in the fire as

460
00:24:42,840 --> 00:24:45,040
Speaker 6: you things are starting to turn real quick. I've read

461
00:24:45,080 --> 00:24:47,399
Speaker 6: somewhere that you might you might have been facing adviction.

462
00:24:48,160 --> 00:24:51,880
Speaker 6: So this is what's going through your mindset at that point.

463
00:24:51,880 --> 00:24:58,560
Speaker 5: Now, Fear, you know, fear and you know, being sort

464
00:24:58,560 --> 00:25:06,160
Speaker 5: of partially partially paralyzed, you know, temporarily of my world

465
00:25:06,320 --> 00:25:08,920
Speaker 5: is falling apart, you know, because you know, I went

466
00:25:09,000 --> 00:25:13,520
Speaker 5: through a real hot streak where nothing could go wrong,

467
00:25:14,160 --> 00:25:16,959
Speaker 5: and then all of a sudden, everything's going wrong, and

468
00:25:17,000 --> 00:25:18,879
Speaker 5: it you know, and it turned and it felt like

469
00:25:18,920 --> 00:25:22,520
Speaker 5: a spiral, and it felt out like where things were

470
00:25:22,760 --> 00:25:27,320
Speaker 5: out of my control. And you know, you're dealing I

471
00:25:27,359 --> 00:25:31,960
Speaker 5: was dealing with embarrassment. I was dealing with shame, dealing

472
00:25:32,000 --> 00:25:33,639
Speaker 5: with depression.

473
00:25:33,400 --> 00:25:33,600
Speaker 4: You know.

474
00:25:33,720 --> 00:25:37,560
Speaker 5: I you know, a family now at the you know,

475
00:25:37,920 --> 00:25:41,200
Speaker 5: at this time, so you know, you could take certain

476
00:25:41,320 --> 00:25:44,879
Speaker 5: risks when you're twenty two, it's like but you know,

477
00:25:45,480 --> 00:25:48,760
Speaker 5: midd thirties and you got you know, at that time,

478
00:25:48,800 --> 00:25:51,480
Speaker 5: we have four kids. We have five now, but you know,

479
00:25:51,560 --> 00:25:56,560
Speaker 5: having four kids and tuitions and mortgages and car notes

480
00:25:56,600 --> 00:26:01,679
Speaker 5: and employee responsibilities. You know, it got really scary really quick.

481
00:26:02,320 --> 00:26:05,240
Speaker 5: And you know, luckily, you know, I was able to

482
00:26:07,080 --> 00:26:09,760
Speaker 5: come back from it. But while I was in it,

483
00:26:09,840 --> 00:26:12,160
Speaker 5: you know, it was a very dark time.

484
00:26:13,320 --> 00:26:14,359
Speaker 4: Why did she fire you?

485
00:26:15,280 --> 00:26:15,480
Speaker 7: Yeah?

486
00:26:15,560 --> 00:26:18,800
Speaker 5: She you know, I think she just had other aspirations

487
00:26:18,920 --> 00:26:24,119
Speaker 5: and and she and I is funny because Eve's like

488
00:26:24,240 --> 00:26:25,359
Speaker 5: my my sister.

489
00:26:25,920 --> 00:26:27,119
Speaker 7: Yeah, it's funny.

490
00:26:27,160 --> 00:26:29,960
Speaker 5: A friend of mine, Tuma Bassa, who I worked with

491
00:26:30,000 --> 00:26:34,320
Speaker 5: at Spotify, literally just texted me like an hour ago,

492
00:26:35,840 --> 00:26:38,960
Speaker 5: sending me an article because it's the twentieth anniversary this

493
00:26:39,080 --> 00:26:42,840
Speaker 5: week of Eve's I think that to let there be

494
00:26:42,920 --> 00:26:46,800
Speaker 5: Eve album. And it's crazy that it was twenty years ago.

495
00:26:47,440 --> 00:26:48,040
Speaker 3: What crazy?

496
00:26:48,359 --> 00:26:51,520
Speaker 5: Yeah, crazy, it was twenty years ago. But you know,

497
00:26:51,880 --> 00:26:57,920
Speaker 5: so she and I were incredibly close, but she didn't

498
00:26:57,920 --> 00:27:00,600
Speaker 5: feel like I was focused enough at that particular the time,

499
00:27:01,119 --> 00:27:04,240
Speaker 5: which you know, maybe she was, but in my mind,

500
00:27:04,280 --> 00:27:06,200
Speaker 5: I felt like I could get it to the next level.

501
00:27:07,400 --> 00:27:09,760
Speaker 5: But she felt like she needed to do other things,

502
00:27:10,400 --> 00:27:13,760
Speaker 5: and she decided that, you know, she wanted to explore

503
00:27:13,880 --> 00:27:17,760
Speaker 5: other managers, which I didn't. I didn't understand it at

504
00:27:17,760 --> 00:27:20,399
Speaker 5: that time. It was like a divorce because you know,

505
00:27:20,640 --> 00:27:25,200
Speaker 5: a heartbreak, you know, because because of the relationship, and

506
00:27:25,200 --> 00:27:28,480
Speaker 5: and I was mad as as you would normally be

507
00:27:28,640 --> 00:27:31,560
Speaker 5: mad under those circumstances, and especially while I was going

508
00:27:31,640 --> 00:27:35,040
Speaker 5: through all of like the terrible stuff, you know, like

509
00:27:35,760 --> 00:27:38,679
Speaker 5: really mad, but I just didn't. I just would not

510
00:27:39,359 --> 00:27:43,840
Speaker 5: let the anger consume me, man and like, and that

511
00:27:44,000 --> 00:27:45,240
Speaker 5: was a big piece of it.

512
00:27:45,240 --> 00:27:46,439
Speaker 7: It was a big piece of it.

513
00:27:47,280 --> 00:27:49,600
Speaker 2: So for the second run when you when you get

514
00:27:50,000 --> 00:27:51,960
Speaker 2: Lady Gaga and John Legend.

515
00:27:51,800 --> 00:27:52,679
Speaker 4: What did you do different?

516
00:27:52,680 --> 00:27:54,760
Speaker 2: Did you do anything different as far as the management

517
00:27:55,359 --> 00:27:58,960
Speaker 2: style or I'm pretty sure you were more respectful with

518
00:27:59,040 --> 00:28:02,879
Speaker 2: money this time around? And how did that change? Like

519
00:28:02,960 --> 00:28:05,000
Speaker 2: you have money, you lost it, but then you got

520
00:28:05,000 --> 00:28:07,879
Speaker 2: an opportunity to you know, get a rebirth.

521
00:28:07,920 --> 00:28:10,000
Speaker 4: So how what was different the second the second wave?

522
00:28:10,680 --> 00:28:13,119
Speaker 5: I think I was. I was different, you know, I

523
00:28:13,160 --> 00:28:18,480
Speaker 5: think in a couple of different ways. It's like humility,

524
00:28:19,119 --> 00:28:22,760
Speaker 5: for sure, because it's like, you know, uh, you nothing

525
00:28:22,800 --> 00:28:26,959
Speaker 5: weighs you up, like cold concrete, and so it just

526
00:28:27,040 --> 00:28:30,440
Speaker 5: it was a very humbling experience to say the least.

527
00:28:31,320 --> 00:28:34,720
Speaker 5: And then the other piece of it was a friend

528
00:28:34,760 --> 00:28:38,040
Speaker 5: of mine introduced me to meditation, and that's what really

529
00:28:38,040 --> 00:28:42,600
Speaker 5: helped me get through that hard situation. And and and

530
00:28:42,680 --> 00:28:46,600
Speaker 5: it was just exercise that that I learned during meditation,

531
00:28:47,560 --> 00:28:52,000
Speaker 5: where it basically it's almost like you you imagine yourself

532
00:28:52,120 --> 00:28:56,280
Speaker 5: out of your own body and you look back at

533
00:28:56,400 --> 00:29:01,520
Speaker 5: all of your best experiences and your worst experience and

534
00:29:01,600 --> 00:29:08,240
Speaker 5: what you realize and and your best experiences you really

535
00:29:08,240 --> 00:29:12,080
Speaker 5: didn't have that much to do with it, so so

536
00:29:12,320 --> 00:29:14,680
Speaker 5: you could plan for certain things, but you never could

537
00:29:14,680 --> 00:29:16,120
Speaker 5: plan for specifics.

538
00:29:16,960 --> 00:29:18,640
Speaker 7: So there's no plan.

539
00:29:18,920 --> 00:29:21,320
Speaker 5: In my life that I'm gonna meet Eve, that I'm

540
00:29:21,360 --> 00:29:23,440
Speaker 5: going to meet God, God, that I'm gonna meet.

541
00:29:23,280 --> 00:29:25,200
Speaker 7: You know, CEOs or you know.

542
00:29:25,920 --> 00:29:28,760
Speaker 5: It's this is when grace comes into play, and this

543
00:29:28,800 --> 00:29:31,680
Speaker 5: is when faith comes into play. And so what it

544
00:29:31,760 --> 00:29:36,880
Speaker 5: taught me through that experience was I didn't although I

545
00:29:36,920 --> 00:29:39,720
Speaker 5: could take I tried to take credit for a lot

546
00:29:39,760 --> 00:29:42,440
Speaker 5: of my own success, A lot of it is just

547
00:29:42,640 --> 00:29:46,560
Speaker 5: grace too, and you and being prepared for it. So

548
00:29:47,040 --> 00:29:50,240
Speaker 5: I got to have faith that great that I'm gonna

549
00:29:50,840 --> 00:29:54,200
Speaker 5: be met with grace again, and and and when and

550
00:29:55,000 --> 00:29:58,120
Speaker 5: when you have that level of faith, it shows up

551
00:29:58,160 --> 00:30:00,880
Speaker 5: for you time and time and time again, and you'll

552
00:30:00,920 --> 00:30:04,280
Speaker 5: be testing on it and and to see, you know,

553
00:30:04,640 --> 00:30:09,400
Speaker 5: whether you run scared again, but it continually continuously shows

554
00:30:09,480 --> 00:30:12,560
Speaker 5: up and so that you know. So I think those

555
00:30:12,600 --> 00:30:15,200
Speaker 5: were the two things when I when when I when

556
00:30:15,240 --> 00:30:19,720
Speaker 5: I did meet Gaga, I had no money. She really

557
00:30:19,760 --> 00:30:22,560
Speaker 5: didn't have money. Vince who introduced me to her, didn't

558
00:30:22,560 --> 00:30:26,600
Speaker 5: have money. Jimmy Ivan at Interscope was going through his divorce.

559
00:30:26,680 --> 00:30:29,160
Speaker 5: So Jimmy was going through a tough time. So I

560
00:30:29,160 --> 00:30:32,480
Speaker 5: think you got four people all you know, sort of

561
00:30:32,480 --> 00:30:35,840
Speaker 5: fighting for their lives and all going through tough stuff.

562
00:30:36,120 --> 00:30:38,320
Speaker 5: So you know, you can't fall off the floor. So

563
00:30:38,400 --> 00:30:40,840
Speaker 5: it's nowhere else to go but up. So we just

564
00:30:40,960 --> 00:30:42,600
Speaker 5: hustled and did our did the work.

565
00:30:43,520 --> 00:30:46,480
Speaker 6: Yeah, So at this point it's almost like the rebirth right.

566
00:30:46,520 --> 00:30:48,720
Speaker 6: You did it with Eve, you came up together, you

567
00:30:48,840 --> 00:30:51,920
Speaker 6: starting over. Now you're back in the clubs, you're booking

568
00:30:51,960 --> 00:30:55,440
Speaker 6: gigs and I'm trying to fix So we got Vince involved.

569
00:30:55,480 --> 00:30:56,080
Speaker 3: Who introduce you?

570
00:30:56,040 --> 00:30:59,200
Speaker 6: You got Jimmy Iveen, Akon ends up signing it. Did

571
00:30:59,240 --> 00:31:01,320
Speaker 6: you bring him? Bring her to Akon? How does that work?

572
00:31:01,440 --> 00:31:06,920
Speaker 5: No, Jimmy, Jimmy Iveen brought an a Kon to to

573
00:31:07,160 --> 00:31:10,800
Speaker 5: as an executive producer because a Akon of Fire and

574
00:31:10,840 --> 00:31:13,120
Speaker 5: he had a producer named red One that was signed

575
00:31:13,120 --> 00:31:20,200
Speaker 5: to him and and red One did Bad Romance, Just Dance,

576
00:31:20,360 --> 00:31:23,040
Speaker 5: poker Face, you know, a ton of a ton of

577
00:31:23,040 --> 00:31:27,040
Speaker 5: our big records. So so bringing Con on board just

578
00:31:27,160 --> 00:31:28,960
Speaker 5: was you know that that was a blessing as well.

579
00:31:31,040 --> 00:31:33,600
Speaker 2: So how quickly does that ramp up with Lady Gaga

580
00:31:33,600 --> 00:31:38,000
Speaker 2: before it becomes like you know who she is like now.

581
00:31:38,600 --> 00:31:42,400
Speaker 5: Probably you know, from the time we put out her

582
00:31:42,560 --> 00:31:46,360
Speaker 5: first single to the time it really broke was a

583
00:31:46,400 --> 00:31:47,480
Speaker 5: little over a year.

584
00:31:47,520 --> 00:31:50,440
Speaker 7: I want to say. You know, it just was it

585
00:31:50,480 --> 00:31:51,200
Speaker 7: was a grind.

586
00:31:51,400 --> 00:31:53,280
Speaker 5: You know, at those moments where you just felt like

587
00:31:53,520 --> 00:31:57,880
Speaker 5: nothing was happening, you know, you were I felt like

588
00:31:57,920 --> 00:32:00,160
Speaker 5: I knew the music was great and I felt like

589
00:32:00,200 --> 00:32:03,680
Speaker 5: she was a superstar. But when nobody was responding, you know,

590
00:32:03,800 --> 00:32:08,000
Speaker 5: it's like you're questioning yourself like, okay, like is this

591
00:32:08,120 --> 00:32:11,200
Speaker 5: not as good as we think it is? No, it is,

592
00:32:11,280 --> 00:32:13,280
Speaker 5: let's you know. So we just kept kept at it,

593
00:32:13,360 --> 00:32:16,280
Speaker 5: kept at it, kept at it until you know, finally,

594
00:32:16,400 --> 00:32:19,280
Speaker 5: you know, we got one radio station and I think

595
00:32:19,280 --> 00:32:21,880
Speaker 5: it was Toronto to play the record. Then we got

596
00:32:21,880 --> 00:32:24,400
Speaker 5: Buffalo to play it. Then you know, you sort of

597
00:32:24,880 --> 00:32:27,000
Speaker 5: saw saw the dominoes start falling.

598
00:32:27,880 --> 00:32:30,719
Speaker 2: So your job as a manager was more than just

599
00:32:30,760 --> 00:32:34,280
Speaker 2: finding opportunities, is actually helping to push them. What are

600
00:32:34,280 --> 00:32:35,920
Speaker 2: you doing as a manager everything that needs to be

601
00:32:36,000 --> 00:32:37,960
Speaker 2: done in the utility, like anything that needs to be

602
00:32:38,000 --> 00:32:39,560
Speaker 2: done pretty much reaching out the radio station.

603
00:32:39,680 --> 00:32:41,040
Speaker 4: Is that the job of a manager or no.

604
00:32:41,320 --> 00:32:44,120
Speaker 5: You do it. The job of a great manager is

605
00:32:44,680 --> 00:32:48,360
Speaker 5: to do whatever needs to be done to ensure the

606
00:32:48,560 --> 00:32:53,120
Speaker 5: long term sustainable success of your artists.

607
00:32:52,640 --> 00:32:56,880
Speaker 7: And for me, that could mean carrying bags.

608
00:32:56,520 --> 00:32:59,960
Speaker 5: On the road. Sometimes that could be helping a set

609
00:33:00,120 --> 00:33:02,480
Speaker 5: up gear in a in a club, or that could

610
00:33:02,480 --> 00:33:06,240
Speaker 5: be negotiating with the CEO of PEPSI you know, so,

611
00:33:06,800 --> 00:33:09,440
Speaker 5: or like it doesn't matter, it doesn't matter, And that

612
00:33:09,440 --> 00:33:11,800
Speaker 5: could be all within the same week, by the way,

613
00:33:12,000 --> 00:33:15,120
Speaker 5: So it's like, do whatever you need to do, and

614
00:33:15,640 --> 00:33:19,040
Speaker 5: but it's just you, you you. I always felt like

615
00:33:19,440 --> 00:33:22,400
Speaker 5: I got to set the tone for the level of

616
00:33:22,480 --> 00:33:26,080
Speaker 5: work ethic so that everybody else can can can follow.

617
00:33:27,600 --> 00:33:30,120
Speaker 6: So at this point you're you're a talent manager, but

618
00:33:30,160 --> 00:33:33,880
Speaker 6: you're also building too, right because now you're building the

619
00:33:34,080 --> 00:33:36,640
Speaker 6: Adam Factory. If I'm not mistaken right that that's now

620
00:33:36,760 --> 00:33:40,520
Speaker 6: is not just music, it's also it's film, it's television.

621
00:33:40,720 --> 00:33:41,280
Speaker 3: Is this happening.

622
00:33:41,320 --> 00:33:43,840
Speaker 5: At the same time, no, so got gay, I was

623
00:33:43,920 --> 00:33:46,000
Speaker 5: managing out of my living room as well.

624
00:33:47,160 --> 00:33:53,120
Speaker 8: That's a prestigious living room, different different living room, but

625
00:33:53,840 --> 00:33:56,680
Speaker 8: needless to say, it was a living room and it

626
00:33:56,720 --> 00:34:00,400
Speaker 8: wasn't a company, and it was it was managing her.

627
00:34:00,600 --> 00:34:04,240
Speaker 5: And then as she started to grow a little bit more,

628
00:34:04,240 --> 00:34:08,279
Speaker 5: I needed to hire somebody to oversee like ticketing for

629
00:34:08,320 --> 00:34:10,600
Speaker 5: me to make sure that people got into the clubs.

630
00:34:11,080 --> 00:34:13,840
Speaker 5: And then I had to hire a road manager because

631
00:34:14,080 --> 00:34:16,440
Speaker 5: I was getting too many emails and phone calls to

632
00:34:16,440 --> 00:34:18,680
Speaker 5: stay out on the road, and so I had to

633
00:34:19,040 --> 00:34:21,800
Speaker 5: put somebody on the road. So that ended up turning

634
00:34:21,880 --> 00:34:26,080
Speaker 5: into after a couple of two three years, you know,

635
00:34:26,239 --> 00:34:29,440
Speaker 5: thirty thirty people and then you know, other clients and

636
00:34:29,600 --> 00:34:33,640
Speaker 5: other other verticals. It probably took six years, you know,

637
00:34:33,840 --> 00:34:37,560
Speaker 5: to get into other verticals, like the investment in things

638
00:34:37,560 --> 00:34:38,520
Speaker 5: along those lines.

639
00:34:38,560 --> 00:34:39,840
Speaker 7: But it sort of started.

640
00:34:40,200 --> 00:34:43,720
Speaker 5: Everything started, like it always starts with this little seed

641
00:34:44,320 --> 00:34:47,480
Speaker 5: and then you see that seed Germany, you know, And

642
00:34:47,600 --> 00:34:50,080
Speaker 5: what I tell founders that I work with and you know,

643
00:34:50,280 --> 00:34:55,200
Speaker 5: or entrepreneurs that that I coach, like Facebook was built

644
00:34:55,560 --> 00:34:58,320
Speaker 5: with one line. It was starting that line of code.

645
00:34:58,680 --> 00:35:02,080
Speaker 5: So it wasn't news feed and ad sales and you

646
00:35:02,080 --> 00:35:04,960
Speaker 5: know Instagram and what's that mark had the right a

647
00:35:05,000 --> 00:35:08,960
Speaker 5: line of code and and so what's that first step

648
00:35:09,000 --> 00:35:11,680
Speaker 5: that you can take and then that second step that

649
00:35:11,719 --> 00:35:13,840
Speaker 5: you could take and sort of you know, build it

650
00:35:13,880 --> 00:35:16,719
Speaker 5: brick by brick, and and that's the that's the that's

651
00:35:16,800 --> 00:35:18,440
Speaker 5: the way I know how to build businesses.

652
00:35:19,880 --> 00:35:23,480
Speaker 2: So so so about investing. How did you get into investing?

653
00:35:24,160 --> 00:35:27,000
Speaker 2: Especially like, are you an angel investor? Like A F

654
00:35:27,080 --> 00:35:29,160
Speaker 2: square investments? What exactly is that?

655
00:35:29,520 --> 00:35:33,360
Speaker 5: Yeah? So so uh the AF square stands for Angel

656
00:35:33,800 --> 00:35:37,040
Speaker 5: Adam Factory, Angel Fund and and we just called the

657
00:35:37,120 --> 00:35:41,440
Speaker 5: A F square but for AF square. That actually started

658
00:35:41,520 --> 00:35:46,680
Speaker 5: from just me getting an opportunity to invest and a startup,

659
00:35:47,280 --> 00:35:49,880
Speaker 5: and I didn't really know about startups at that time.

660
00:35:51,960 --> 00:35:55,040
Speaker 5: A friend of mine introduced me to a guy who

661
00:35:55,120 --> 00:35:56,880
Speaker 5: had invested in the music industry.

662
00:35:57,040 --> 00:35:59,680
Speaker 7: And this guy was like a pretty big.

663
00:36:00,320 --> 00:36:04,040
Speaker 5: Tech investor, and he asked me for my advice on

664
00:36:04,360 --> 00:36:07,680
Speaker 5: the music industry and I said, okay, if if I

665
00:36:07,719 --> 00:36:10,160
Speaker 5: help you get out of the music industry, well you

666
00:36:10,239 --> 00:36:13,399
Speaker 5: helped me get into tech because he had invested in

667
00:36:13,480 --> 00:36:15,480
Speaker 5: some bullshit record label.

668
00:36:15,440 --> 00:36:17,759
Speaker 7: And I'm like, you gotta get the money out of it.

669
00:36:19,239 --> 00:36:21,440
Speaker 5: And he introduced me to a bunch of people in

670
00:36:21,560 --> 00:36:25,600
Speaker 5: tech and that sort of led to me starting to

671
00:36:27,080 --> 00:36:29,440
Speaker 5: have a little money, like and not a lot by

672
00:36:29,440 --> 00:36:32,560
Speaker 5: the way, so I wasn't investing like millions of dollars,

673
00:36:32,960 --> 00:36:36,360
Speaker 5: you know. I started off with investing thousands of dollars

674
00:36:36,400 --> 00:36:39,319
Speaker 5: and putting it here, and it just was some surplus

675
00:36:39,360 --> 00:36:42,319
Speaker 5: money that I didn't want to blow because last time

676
00:36:42,360 --> 00:36:44,920
Speaker 5: I blew my money. So I'm like, okay, Like at

677
00:36:45,040 --> 00:36:48,239
Speaker 5: least I can, you know, invest and learn right now.

678
00:36:48,320 --> 00:36:51,760
Speaker 5: So worst case scenario if these investments go to zero.

679
00:36:52,280 --> 00:36:55,640
Speaker 5: I built some great relationships and learned a lot, but

680
00:36:56,200 --> 00:36:58,000
Speaker 5: nothing that was going to keep me up at night,

681
00:36:58,160 --> 00:36:59,960
Speaker 5: you know, in terms of the size of investment.

682
00:37:01,600 --> 00:37:03,120
Speaker 4: So okay.

683
00:37:03,480 --> 00:37:06,400
Speaker 2: So and that's how you got into the ubers and

684
00:37:06,400 --> 00:37:08,600
Speaker 2: the lyfts and just like it's just a domino effect

685
00:37:08,640 --> 00:37:09,000
Speaker 2: from there.

686
00:37:09,680 --> 00:37:13,919
Speaker 5: Yeah. So Uber was they were doing they were only

687
00:37:13,960 --> 00:37:16,839
Speaker 5: in San Francisco at that time, and they were doing, uh,

688
00:37:16,920 --> 00:37:21,560
Speaker 5: they had just started doing like black cars and and

689
00:37:21,760 --> 00:37:23,640
Speaker 5: a friend of mine called me up and said, I

690
00:37:23,680 --> 00:37:27,560
Speaker 5: want you to meet the CEO of Uber And I'll

691
00:37:27,560 --> 00:37:28,120
Speaker 5: never forget.

692
00:37:28,120 --> 00:37:31,040
Speaker 7: We were driving I was driving down Santa Monica in

693
00:37:31,239 --> 00:37:31,680
Speaker 7: l A.

694
00:37:31,960 --> 00:37:33,920
Speaker 5: And I'm on the phone with him and he's telling

695
00:37:33,960 --> 00:37:37,520
Speaker 5: me about the business and and I'm like, how in

696
00:37:37,560 --> 00:37:40,400
Speaker 5: the world are y'all going to afford to buy you know,

697
00:37:40,640 --> 00:37:43,160
Speaker 5: thousands of these cars, like, because I'm thinking they were

698
00:37:43,200 --> 00:37:46,239
Speaker 5: going to have to buy you know, individual cars. And

699
00:37:46,239 --> 00:37:49,359
Speaker 5: as he was explaining what they were going after just

700
00:37:49,440 --> 00:37:54,120
Speaker 5: made sense. I ended up investing that same week, I

701
00:37:54,160 --> 00:37:57,239
Speaker 5: want to say, And and then when and when I

702
00:37:57,320 --> 00:38:00,680
Speaker 5: invested in Lyft, they were called they weren't even called Lyft.

703
00:38:00,719 --> 00:38:04,040
Speaker 5: They were called zim Ride, and they were a company

704
00:38:04,040 --> 00:38:08,320
Speaker 5: that took car kids from like college campuses to dorms

705
00:38:08,640 --> 00:38:13,400
Speaker 5: and so like carpooling. And they later became Lyft, but

706
00:38:13,520 --> 00:38:16,000
Speaker 5: they were at that time, they were small, I think

707
00:38:16,080 --> 00:38:22,080
Speaker 5: a sixteen sixteen million dollar valuation somewhere around there, so a.

708
00:38:22,000 --> 00:38:22,600
Speaker 3: Long away from that.

709
00:38:22,719 --> 00:38:24,719
Speaker 2: So you still have the stop like, did you keep

710
00:38:24,760 --> 00:38:26,720
Speaker 2: that ownership all the way to the when they became public?

711
00:38:26,760 --> 00:38:28,400
Speaker 4: And now you have a right up.

712
00:38:28,400 --> 00:38:30,720
Speaker 7: I have both companies right up to IPO.

713
00:38:31,040 --> 00:38:33,320
Speaker 6: One of the other companies you invested in with Spotify,

714
00:38:33,360 --> 00:38:35,520
Speaker 6: and I know you were you were at Spotify as

715
00:38:35,560 --> 00:38:38,319
Speaker 6: the head of Creative Services number one. What does that

716
00:38:38,440 --> 00:38:42,000
Speaker 6: job entail? And do you are you still invested with them?

717
00:38:42,040 --> 00:38:43,560
Speaker 6: I know they have you as an advisor? Now how

718
00:38:43,560 --> 00:38:44,120
Speaker 6: does that work?

719
00:38:44,480 --> 00:38:51,239
Speaker 5: Yeah? Spotify? I met Daniel years ago, but like and

720
00:38:51,640 --> 00:38:55,720
Speaker 5: I invested right before, but it was before they launched

721
00:38:55,760 --> 00:39:00,680
Speaker 5: America and became very close with Daniel, the founder and

722
00:39:01,560 --> 00:39:04,799
Speaker 5: he and I would just talk all the time, just

723
00:39:05,480 --> 00:39:09,120
Speaker 5: really because he was His thing was, Daniel is a

724
00:39:09,160 --> 00:39:13,040
Speaker 5: guy that can see ten years ahead, and those are

725
00:39:13,040 --> 00:39:15,440
Speaker 5: the kind of founders you want to invest in, by

726
00:39:15,480 --> 00:39:19,440
Speaker 5: the way, because it's like certain people and the record

727
00:39:19,520 --> 00:39:23,000
Speaker 5: business thinks about think they live quarter to quarter, and

728
00:39:23,040 --> 00:39:26,640
Speaker 5: they think about what's happening right now, and they make

729
00:39:26,719 --> 00:39:30,920
Speaker 5: decisions based on what's happening right now. And most of

730
00:39:30,960 --> 00:39:34,799
Speaker 5: the people who are at record labels, they don't own

731
00:39:34,880 --> 00:39:39,120
Speaker 5: those record labels. They work there, so their incentives aren't

732
00:39:39,239 --> 00:39:41,520
Speaker 5: ten years down the line because they might not be there.

733
00:39:42,440 --> 00:39:44,719
Speaker 5: So when you got somebody like Daniel who was in

734
00:39:44,760 --> 00:39:48,399
Speaker 5: his twenties and he's looking at building this company that

735
00:39:48,560 --> 00:39:52,440
Speaker 5: you know he'll be at through his forties fifties, probably he's.

736
00:39:52,239 --> 00:39:53,840
Speaker 7: Looking at what the future is.

737
00:39:53,920 --> 00:39:57,440
Speaker 5: And his frust cration was the music industry wasn't moving

738
00:39:57,520 --> 00:39:59,960
Speaker 5: fast enough, and you had a lot of people who

739
00:40:00,080 --> 00:40:03,799
Speaker 5: weren't putting their music on streaming. You had a lot

740
00:40:03,840 --> 00:40:06,480
Speaker 5: of people who were pissed off because they're like, we

741
00:40:06,560 --> 00:40:09,399
Speaker 5: make money off of CDs and downloads. You know, how

742
00:40:09,480 --> 00:40:12,920
Speaker 5: dare these people try to make you give us fractions

743
00:40:12,920 --> 00:40:15,840
Speaker 5: of a cent for streaming and what they didn't understand

744
00:40:15,880 --> 00:40:19,879
Speaker 5: at that particular time was streaming is the best thing

745
00:40:19,920 --> 00:40:23,560
Speaker 5: that ever happened to music because you get paid every

746
00:40:23,600 --> 00:40:26,680
Speaker 5: time people listen to it now, so it's not like

747
00:40:27,320 --> 00:40:31,080
Speaker 5: back in the day where like you that Biggie record

748
00:40:31,080 --> 00:40:36,760
Speaker 5: you got behind you. I listened to that so many times,

749
00:40:36,800 --> 00:40:39,359
Speaker 5: but big only got paid that one time I bought it.

750
00:40:40,760 --> 00:40:45,919
Speaker 5: Streaming changed everything. It becomes this annuity, and I came

751
00:40:46,000 --> 00:40:50,000
Speaker 5: on board as somebody to help translate that to the

752
00:40:50,080 --> 00:40:54,040
Speaker 5: music industry and educate the music industry.

753
00:40:55,640 --> 00:40:57,879
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Speaker 5: Why this new technology was going to be transformative to

804
00:43:49,480 --> 00:43:53,200
Speaker 5: the way we do business. And I also had the

805
00:43:53,280 --> 00:43:57,000
Speaker 5: translate internally at Spotify is like, how do we build

806
00:43:57,000 --> 00:44:02,680
Speaker 5: a team within Spotify that understand and the goals and

807
00:44:02,800 --> 00:44:08,200
Speaker 5: motivations of of of musicians and the business around them

808
00:44:08,400 --> 00:44:12,160
Speaker 5: that that that that support those musicians. So I kind

809
00:44:12,160 --> 00:44:15,520
Speaker 5: of served as a translator between between those two worlds.

810
00:44:16,160 --> 00:44:18,080
Speaker 3: How much resistance did you face some artists?

811
00:44:18,239 --> 00:44:19,759
Speaker 6: I know I had a lot of times when they

812
00:44:19,760 --> 00:44:21,520
Speaker 6: talk about the percentages that they get off of a

813
00:44:21,560 --> 00:44:25,080
Speaker 6: stream in the early stages. You know, I could imagine

814
00:44:25,120 --> 00:44:27,759
Speaker 6: they're looking at my money. Stream has now changed. What

815
00:44:27,880 --> 00:44:28,919
Speaker 6: kind of resistance did you meet?

816
00:44:29,960 --> 00:44:36,160
Speaker 5: So so no, no exaggeration. My my first week at Spotify,

817
00:44:38,080 --> 00:44:40,839
Speaker 5: I went to do a presentation. I told the team

818
00:44:40,880 --> 00:44:46,720
Speaker 5: to pull together some numbers and and our first meeting,

819
00:44:47,760 --> 00:44:51,359
Speaker 5: we were doing a meeting with Maverick Entertainment, which is

820
00:44:51,480 --> 00:44:57,840
Speaker 5: like sal who manages the Weekend and French Montana and

821
00:44:58,360 --> 00:45:01,520
Speaker 5: Gee Roberson who managed is everybody in the world and

822
00:45:01,840 --> 00:45:05,840
Speaker 5: everyone so like as their whole staff meet and Guyo

823
00:45:06,000 --> 00:45:09,200
Speaker 5: Siri manages Madonna YouTube all of them. So I go

824
00:45:09,280 --> 00:45:12,799
Speaker 5: to their staff meeting and I and I pull up

825
00:45:14,320 --> 00:45:19,120
Speaker 5: a presentation to show them how much Spotify paid out

826
00:45:19,239 --> 00:45:24,520
Speaker 5: to all of their artists on streaming that year for

827
00:45:24,600 --> 00:45:27,279
Speaker 5: the last X amount of years, and then how much

828
00:45:27,320 --> 00:45:30,480
Speaker 5: they're going to make over the next five years as well.

829
00:45:30,960 --> 00:45:38,520
Speaker 5: And everybody's jaws dropped because they're like, where's that money?

830
00:45:39,160 --> 00:45:42,560
Speaker 5: And I said, because you can't blame because I wanted to,

831
00:45:42,680 --> 00:45:45,120
Speaker 5: I want and I and I did this presentation for

832
00:45:46,480 --> 00:45:49,280
Speaker 5: a ton of different managers. But what I was showing

833
00:45:49,320 --> 00:45:53,520
Speaker 5: them was we pay out a lot of money, hundreds

834
00:45:53,520 --> 00:45:58,240
Speaker 5: of millions of dollars, billions of dollars. Like one artist

835
00:45:58,760 --> 00:46:02,440
Speaker 5: on the platform, it was one year this artist grossed.

836
00:46:02,840 --> 00:46:04,800
Speaker 5: I don't know what the artist got but the artist,

837
00:46:05,000 --> 00:46:07,760
Speaker 5: but I know we paid out close to one hundred

838
00:46:07,800 --> 00:46:08,560
Speaker 5: million dollars.

839
00:46:09,760 --> 00:46:10,920
Speaker 7: So I'm like, and that's not.

840
00:46:11,040 --> 00:46:15,200
Speaker 5: That's not Apple music, that's not all axtream and combined.

841
00:46:15,480 --> 00:46:21,160
Speaker 5: That's just so any any sort of gripes has the

842
00:46:21,200 --> 00:46:24,799
Speaker 5: gripes should be with the record labels and the deal

843
00:46:24,880 --> 00:46:28,200
Speaker 5: structures that the record labels have with with with the

844
00:46:28,320 --> 00:46:32,800
Speaker 5: with the artists, versus what Spotify paid out to artists.

845
00:46:32,920 --> 00:46:35,360
Speaker 5: And so that was part of the education process, and

846
00:46:35,400 --> 00:46:38,600
Speaker 5: that's how we ended up getting a lot of artists

847
00:46:38,640 --> 00:46:42,359
Speaker 5: onto the platform because they started seeing the importance of it.

848
00:46:42,520 --> 00:46:45,399
Speaker 5: And then also we shared a lot of data. I'm

849
00:46:45,400 --> 00:46:48,319
Speaker 5: showing you how to reach your fans. We're showing you

850
00:46:48,920 --> 00:46:51,719
Speaker 5: where where where your fans are, how they engage, how

851
00:46:51,719 --> 00:46:54,400
Speaker 5: they engage, engage with your music. And then for the

852
00:46:54,480 --> 00:46:58,600
Speaker 5: older legacy artists, you know, part of the conversation was

853
00:46:59,200 --> 00:47:01,920
Speaker 5: I showed a lot of the artists Beatles wouldn't put

854
00:47:01,920 --> 00:47:04,880
Speaker 5: their music on the platform at one point, and what

855
00:47:04,920 --> 00:47:07,600
Speaker 5: we did once we got the Beatles onto the platform,

856
00:47:08,200 --> 00:47:13,560
Speaker 5: we showed them. And you know, in the States, I

857
00:47:13,600 --> 00:47:17,160
Speaker 5: think it was eighty five percent of or some big

858
00:47:17,200 --> 00:47:20,279
Speaker 5: percentage of people who were streaming the Beatles were under

859
00:47:20,320 --> 00:47:23,600
Speaker 5: the age of thirty. So these are people who weren't born.

860
00:47:23,640 --> 00:47:26,600
Speaker 5: So you got new fans now. So if you're a

861
00:47:26,719 --> 00:47:31,839
Speaker 5: legacy act and you're thinking about generations and you're thinking

862
00:47:31,880 --> 00:47:35,880
Speaker 5: about how do you leave your legacy, you have to

863
00:47:35,880 --> 00:47:38,400
Speaker 5: be on streaming if you want to reach younger consumers.

864
00:47:38,440 --> 00:47:41,200
Speaker 5: So that was sort of, you know, just the education

865
00:47:41,360 --> 00:47:42,760
Speaker 5: process we helped put together.

866
00:47:43,719 --> 00:47:46,319
Speaker 4: So a couple of different things with that.

867
00:47:47,360 --> 00:47:51,080
Speaker 2: So the record labels wasn't being transparent and the money

868
00:47:51,080 --> 00:47:52,960
Speaker 2: that they were receiving, and they were kind of like

869
00:47:54,040 --> 00:47:56,400
Speaker 2: keeping the money, That's what I'm assuming from the conversation

870
00:47:56,480 --> 00:47:59,040
Speaker 2: and not informing an artist, and I guess kind of

871
00:47:59,080 --> 00:48:00,959
Speaker 2: just making up reasons why they wasn't getting paid.

872
00:48:01,000 --> 00:48:02,640
Speaker 4: As far as like you got to spend his money

873
00:48:02,680 --> 00:48:03,200
Speaker 4: on marketing.

874
00:48:04,400 --> 00:48:07,200
Speaker 5: But to be clear, they weren't stilling the money. It's

875
00:48:07,239 --> 00:48:10,280
Speaker 5: the way the deal structures are at work with record

876
00:48:10,320 --> 00:48:14,640
Speaker 5: labels and artists. So the money was coming in. But

877
00:48:15,400 --> 00:48:20,040
Speaker 5: if you only get a sixteen percent royalty, and that

878
00:48:20,120 --> 00:48:23,080
Speaker 5: means eighty eighty four percent of that money goes to

879
00:48:23,120 --> 00:48:26,480
Speaker 5: the record label. And then out of that sixteen percent royalty,

880
00:48:26,800 --> 00:48:31,960
Speaker 5: you're paying producers, you're paying mixers. You know, you all

881
00:48:32,000 --> 00:48:35,040
Speaker 5: the advances are getting have to get recouped, and any

882
00:48:35,160 --> 00:48:38,000
Speaker 5: money that they might have lost on you in the past,

883
00:48:38,320 --> 00:48:42,040
Speaker 5: they got to recoup that back as well. So and

884
00:48:42,120 --> 00:48:44,480
Speaker 5: so the way that they they they the deals are

885
00:48:44,520 --> 00:48:49,160
Speaker 5: structured aren't structured in a way where the artists are

886
00:48:49,200 --> 00:48:54,640
Speaker 5: receiving windfalls. And especially the other last little piece, those

887
00:48:54,680 --> 00:49:04,480
Speaker 5: deals were justified back in the day when you had factories, trucks,

888
00:49:04,480 --> 00:49:10,160
Speaker 5: plastic CDs, printing press. You know, thousands of employees had

889
00:49:10,200 --> 00:49:12,800
Speaker 5: who had to you know, get these things around the world.

890
00:49:13,880 --> 00:49:16,080
Speaker 5: All you got to do is send me a file

891
00:49:16,760 --> 00:49:19,359
Speaker 5: at midnight before the album comes out.

892
00:49:19,560 --> 00:49:23,279
Speaker 6: You know what, they're still factoring those costs when in

893
00:49:23,320 --> 00:49:25,359
Speaker 6: this day and age, those costs don't exist.

894
00:49:25,160 --> 00:49:28,760
Speaker 7: They don't exist. They don't exist, they don't.

895
00:49:28,719 --> 00:49:35,040
Speaker 2: We interview, we introduce styles p a legend, and.

896
00:49:34,200 --> 00:49:36,239
Speaker 7: He said that years that's my man.

897
00:49:36,320 --> 00:49:38,839
Speaker 4: I love South Okay. He said that.

898
00:49:38,920 --> 00:49:40,560
Speaker 2: He said, you know, he's been in the game for

899
00:49:40,640 --> 00:49:42,839
Speaker 2: what twenty five or something like that, and he said

900
00:49:42,840 --> 00:49:46,799
Speaker 2: that he can't tell you how streaming works. And he

901
00:49:46,880 --> 00:49:50,919
Speaker 2: said that he would assume that most record label executives

902
00:49:51,120 --> 00:49:55,000
Speaker 2: can't explain how streaming works. Can you explain how streaming works?

903
00:49:55,040 --> 00:49:57,320
Speaker 2: Like as far as like, can you is it possible

904
00:49:57,360 --> 00:49:58,920
Speaker 2: to give a fifth grade education on?

905
00:49:59,520 --> 00:49:59,600
Speaker 1: Like?

906
00:49:59,680 --> 00:50:05,760
Speaker 4: Okay, if you stream this you get one that possible?

907
00:50:05,840 --> 00:50:06,960
Speaker 4: Is it too complicated?

908
00:50:07,280 --> 00:50:11,120
Speaker 5: I guess the simple way to put it is, there's

909
00:50:11,200 --> 00:50:18,239
Speaker 5: there's a pool of cash that record labels participate in

910
00:50:19,360 --> 00:50:25,719
Speaker 5: from subscriptions and and and advertising revenue. And it's not

911
00:50:25,960 --> 00:50:34,200
Speaker 5: really so Spotify doesn't actually pay per play. It's not

912
00:50:34,239 --> 00:50:36,920
Speaker 5: as simple as getting paid every time is it's play.

913
00:50:37,680 --> 00:50:41,239
Speaker 5: Record labels are paid out of that pool based off

914
00:50:41,280 --> 00:50:44,359
Speaker 5: of market share, and then they divide that and then

915
00:50:44,400 --> 00:50:48,560
Speaker 5: they pay pay their artists based off of that the

916
00:50:48,600 --> 00:50:54,920
Speaker 5: pool that they receive. So Universal might have thirty seven

917
00:50:54,960 --> 00:51:00,200
Speaker 5: percent market share, Sony might have twenty five percent market share,

918
00:51:01,440 --> 00:51:06,799
Speaker 5: and let's say Warner has fifteen percent market share, and

919
00:51:06,840 --> 00:51:10,840
Speaker 5: then Maryland that represents a bunch of independents have the

920
00:51:10,920 --> 00:51:14,799
Speaker 5: remaining market share. So they then break that pod up

921
00:51:15,200 --> 00:51:18,520
Speaker 5: and then they distribute their revenue based off of their

922
00:51:18,680 --> 00:51:22,359
Speaker 5: artists royalty structures, and the amount of streams that their

923
00:51:22,480 --> 00:51:23,880
Speaker 5: artists received.

924
00:51:25,440 --> 00:51:30,120
Speaker 6: Okay, okay, So what what royalty percentage would be like

925
00:51:30,280 --> 00:51:32,040
Speaker 6: ideal in this day and age, right, So you said

926
00:51:32,040 --> 00:51:34,520
Speaker 6: like the sixty percent when there was all those other costs,

927
00:51:34,719 --> 00:51:37,360
Speaker 6: What should the artists go into to make sure it's

928
00:51:37,360 --> 00:51:40,920
Speaker 6: a respectable deal as far as royalty percentage, it depends

929
00:51:41,000 --> 00:51:41,319
Speaker 6: on how.

930
00:51:41,280 --> 00:51:45,200
Speaker 5: Much leverage you have. And you know, the more usually

931
00:51:45,320 --> 00:51:48,880
Speaker 5: the less leverage you have, the worst the deal is

932
00:51:48,880 --> 00:51:53,319
Speaker 5: going to be. More money you take, the worst the

933
00:51:53,360 --> 00:51:57,360
Speaker 5: deal is going to be. So it's kind of figuring

934
00:51:57,440 --> 00:52:03,160
Speaker 5: out what type of leverage you want to go in with. So,

935
00:52:03,880 --> 00:52:07,520
Speaker 5: like a lot of artists that that record companies are

936
00:52:07,520 --> 00:52:10,360
Speaker 5: signing nowadays are going in with a lot more leverage,

937
00:52:10,400 --> 00:52:14,000
Speaker 5: so they're getting better deal terms because record companies don't

938
00:52:14,040 --> 00:52:17,120
Speaker 5: want to take risk anymore. They want to sign what's hot.

939
00:52:17,200 --> 00:52:21,440
Speaker 5: So if if you're going in hot then you negotiate

940
00:52:21,520 --> 00:52:25,000
Speaker 5: and ownership of your masters, you negotiate, and you know,

941
00:52:25,480 --> 00:52:28,960
Speaker 5: a fifty to fifty joint venture deal. And some of

942
00:52:29,000 --> 00:52:31,719
Speaker 5: the smarter artists are going in negotiate and saying, you

943
00:52:31,719 --> 00:52:34,480
Speaker 5: know what, I don't really need that much of your money,

944
00:52:34,560 --> 00:52:35,200
Speaker 5: but I want you.

945
00:52:35,400 --> 00:52:36,160
Speaker 7: I want you to.

946
00:52:36,120 --> 00:52:40,439
Speaker 5: Help me with international and I want you to help

947
00:52:40,440 --> 00:52:42,120
Speaker 5: me on some market. And so I'm just going to

948
00:52:42,160 --> 00:52:48,479
Speaker 5: give you a fifteen distribution fee and that and that

949
00:52:48,480 --> 00:52:51,640
Speaker 5: that'll be what you take and then I'm taking a rest. Essentially.

950
00:52:53,440 --> 00:52:54,560
Speaker 4: When did you leave Spotify?

951
00:52:56,840 --> 00:53:00,520
Speaker 5: Maybe about two and a half years ago, Yeah, almost

952
00:53:01,000 --> 00:53:01,960
Speaker 5: almost three years ago.

953
00:53:02,000 --> 00:53:04,759
Speaker 2: Now, so were you there when they started to make

954
00:53:04,800 --> 00:53:06,520
Speaker 2: a strong push in the podcast.

955
00:53:06,800 --> 00:53:09,319
Speaker 4: Yeah, yep, yeah, were you involved with that at all

956
00:53:09,400 --> 00:53:11,160
Speaker 4: or lightly?

957
00:53:11,640 --> 00:53:17,319
Speaker 5: Courtney Wholt, who's Who's a brilliant, brilliant guy. Courtney ran

958
00:53:17,440 --> 00:53:22,719
Speaker 5: podcast for Spotify. So Courtney and I worked together when

959
00:53:22,719 --> 00:53:24,839
Speaker 5: he was at Innerscope, and then he went to run

960
00:53:25,600 --> 00:53:28,759
Speaker 5: a division at MTV and then Maker Studios, and then

961
00:53:29,200 --> 00:53:32,080
Speaker 5: he and I went into Spotify around the same time.

962
00:53:32,160 --> 00:53:35,920
Speaker 5: But I was an investor in Gimblet Media and and

963
00:53:36,080 --> 00:53:40,520
Speaker 5: so part of just a Gimblet conversation and working working

964
00:53:40,560 --> 00:53:41,920
Speaker 5: closely with those guys.

965
00:53:42,320 --> 00:53:43,800
Speaker 3: Spotify ended up buying Gimblet.

966
00:53:43,840 --> 00:53:46,160
Speaker 7: Correct, Yes, Spotify bought Gimblet.

967
00:53:47,480 --> 00:53:48,879
Speaker 4: I have a couple of questions about art.

968
00:53:48,920 --> 00:53:51,920
Speaker 2: But before that phase, clan like, that's I want to

969
00:53:51,920 --> 00:53:54,200
Speaker 2: talk about that a little bit because when I saw that,

970
00:53:54,280 --> 00:53:57,880
Speaker 2: it's like, it's interesting. I wouldn't necessarily assume that they

971
00:53:57,920 --> 00:54:02,839
Speaker 2: needed Angel investment UNTI Capital investing because they're a gaming crew.

972
00:54:03,360 --> 00:54:06,719
Speaker 4: But so how did that work? Like, can can you

973
00:54:06,760 --> 00:54:07,640
Speaker 4: explain that a little bit?

974
00:54:08,680 --> 00:54:08,879
Speaker 5: Yeah?

975
00:54:08,960 --> 00:54:12,160
Speaker 7: My my my son, my son, Troy Junior.

976
00:54:14,360 --> 00:54:17,239
Speaker 5: Sent me. He said, Dad, I'm going to work for

977
00:54:17,280 --> 00:54:20,319
Speaker 5: this company. I want you to check them out to

978
00:54:20,360 --> 00:54:22,440
Speaker 5: see you know, if if you if you if you

979
00:54:22,640 --> 00:54:27,040
Speaker 5: like him because he basically was helping them figure out

980
00:54:27,080 --> 00:54:29,680
Speaker 5: some of the music initiatives that they were working on,

981
00:54:30,280 --> 00:54:34,040
Speaker 5: and and he plays games. He he's sort of perfect

982
00:54:34,160 --> 00:54:38,759
Speaker 5: kid that lived lives between gaming and music and and

983
00:54:38,800 --> 00:54:41,680
Speaker 5: he sent me some information their deck and I'm like, okay,

984
00:54:41,719 --> 00:54:44,400
Speaker 5: this sounds really interesting, I said, And I know the

985
00:54:44,480 --> 00:54:48,200
Speaker 5: CEO he used to manage Kid Rock. I said, tell

986
00:54:48,320 --> 00:54:51,360
Speaker 5: Lee Trenk to call me. And so when Lee called

987
00:54:51,360 --> 00:54:54,920
Speaker 5: me and he told me his vision, I ended up

988
00:54:55,640 --> 00:55:02,160
Speaker 5: making the investment from there, and and then my youngest son, Mike, uh,

989
00:55:02,200 --> 00:55:04,560
Speaker 5: he's a big time gamer. And when because I went

990
00:55:04,600 --> 00:55:08,040
Speaker 5: home and I asked Mike about it, and he knew

991
00:55:08,239 --> 00:55:11,799
Speaker 5: everything about Phase Plan, and what I figured out from

992
00:55:11,840 --> 00:55:16,560
Speaker 5: my conversation with him was, I said, Okay, I get it.

993
00:55:16,880 --> 00:55:21,040
Speaker 5: They Phase Clan gets culture because they felt like Wu

994
00:55:21,120 --> 00:55:24,239
Speaker 5: Tang Clan to me, like where like I looked at

995
00:55:24,280 --> 00:55:27,680
Speaker 5: like Asap Crew and I looked at Wu Tang. I'm

996
00:55:27,680 --> 00:55:31,879
Speaker 5: like Phase Clan nailed that the cultural piece of being

997
00:55:31,920 --> 00:55:36,240
Speaker 5: able to build out a crew and then like people

998
00:55:36,239 --> 00:55:40,400
Speaker 5: are picking their favorite members of the crew. So they're

999
00:55:40,440 --> 00:55:43,440
Speaker 5: doing merch phase plans doing merch drops you know that

1000
00:55:43,520 --> 00:55:45,480
Speaker 5: are selling out a million dollars.

1001
00:55:45,120 --> 00:55:46,640
Speaker 7: And like like like this.

1002
00:55:47,200 --> 00:55:50,600
Speaker 5: So I understood right away what they were doing culturally.

1003
00:55:51,080 --> 00:55:55,160
Speaker 5: Gaming wise, I'm not a gamer. I don't know like

1004
00:55:55,320 --> 00:56:00,239
Speaker 5: I understand it a lot, you know, just from what

1005
00:56:00,360 --> 00:56:03,640
Speaker 5: I learned over the last few years. But I'm not

1006
00:56:03,680 --> 00:56:06,080
Speaker 5: a part of the culture. But I understood what they

1007
00:56:06,120 --> 00:56:07,200
Speaker 5: were doing culturally.

1008
00:56:08,200 --> 00:56:12,160
Speaker 2: That's kind of like a retired gam Yeah, it's interesting

1009
00:56:12,200 --> 00:56:14,839
Speaker 2: because I see parallels as far as like what we do.

1010
00:56:15,360 --> 00:56:20,440
Speaker 2: So like the financial literacy movement is like you on Clubhouse,

1011
00:56:20,480 --> 00:56:22,400
Speaker 2: you know, like that's all you see on Clubhouse is

1012
00:56:22,440 --> 00:56:26,880
Speaker 2: everybody's talking about this financial literacy like bitcoin or NFT.

1013
00:56:26,960 --> 00:56:28,600
Speaker 2: I don't want to ask you about that, but real estate

1014
00:56:28,600 --> 00:56:30,560
Speaker 2: stuff like that. So it's like for Ernie Leisha, I

1015
00:56:30,600 --> 00:56:35,720
Speaker 2: feel like it's become a cultural phenomenon and it's.

1016
00:56:35,600 --> 00:56:38,480
Speaker 7: Building because we never.

1017
00:56:39,880 --> 00:56:45,320
Speaker 5: We like, we never talked about money is a culture.

1018
00:56:46,200 --> 00:56:49,160
Speaker 5: Like we talked about aspiration about you know, what we

1019
00:56:49,200 --> 00:56:52,560
Speaker 5: wanted to buy, but we never talked about money as

1020
00:56:52,600 --> 00:56:55,600
Speaker 5: a culture. And I think that's the reason why a

1021
00:56:55,719 --> 00:57:01,319
Speaker 5: lot of first generation people go go broke, coming who

1022
00:57:01,400 --> 00:57:05,880
Speaker 5: come from our culture, because we don't have the lessons

1023
00:57:05,960 --> 00:57:10,680
Speaker 5: and and networks and and cheat codes in terms of

1024
00:57:10,840 --> 00:57:17,040
Speaker 5: understanding how how does banking work? How does interest rates work?

1025
00:57:17,480 --> 00:57:23,240
Speaker 5: How how does uh uh investments work? How do ETFs work?

1026
00:57:23,640 --> 00:57:27,680
Speaker 5: Like we don't. Those aren't culture, Those aren't conversations that

1027
00:57:27,760 --> 00:57:31,240
Speaker 5: we have amongst each other. And what I noticed, like

1028
00:57:33,040 --> 00:57:39,520
Speaker 5: I started having some conversations man with this is the

1029
00:57:39,520 --> 00:57:42,800
Speaker 5: beauty of of of The one good thing I can

1030
00:57:42,840 --> 00:57:47,400
Speaker 5: say that came out of the Trump era was it's

1031
00:57:47,440 --> 00:57:53,400
Speaker 5: scared so bad? What was happening in the country in

1032
00:57:53,520 --> 00:57:59,000
Speaker 5: terms of anti black and and and and seeing these

1033
00:58:01,040 --> 00:58:04,920
Speaker 5: national white nationalists, you know, walk through these college campuses

1034
00:58:04,960 --> 00:58:10,120
Speaker 5: with with tiki torches and and and polo collars, and

1035
00:58:10,200 --> 00:58:15,120
Speaker 5: that a lot of black people who were competitive and

1036
00:58:15,160 --> 00:58:18,959
Speaker 5: in our business started really pulling together and.

1037
00:58:18,880 --> 00:58:19,880
Speaker 7: Talking to each other.

1038
00:58:21,200 --> 00:58:27,080
Speaker 5: And I've had some conversations man where I'm like, I've

1039
00:58:27,160 --> 00:58:35,160
Speaker 5: learned so much from Jay jay Z, from Puff, from

1040
00:58:35,160 --> 00:58:40,920
Speaker 5: Big John, from from like Jay Brown, like you like

1041
00:58:41,640 --> 00:58:47,160
Speaker 5: you you. These are the types of conversations that we

1042
00:58:47,200 --> 00:58:50,680
Speaker 5: should have been having twenty years ago, you know what

1043
00:58:50,720 --> 00:58:51,160
Speaker 5: I'm saying.

1044
00:58:51,160 --> 00:58:53,680
Speaker 7: But we we ship, but we were.

1045
00:58:53,560 --> 00:58:55,960
Speaker 5: Talk coming up that it was like almost felt like

1046
00:58:56,080 --> 00:59:00,400
Speaker 5: zero sum, and it was like this competitive things good

1047
00:59:00,440 --> 00:59:05,000
Speaker 5: to be competitive, but it's it. But it's not zero

1048
00:59:05,080 --> 00:59:07,720
Speaker 5: sum anymore. It's it's we're going to compete and then

1049
00:59:07,840 --> 00:59:10,160
Speaker 5: learn from each other. We're gonna compete then learn from

1050
00:59:10,160 --> 00:59:14,640
Speaker 5: each other. Nothing was better when when Jay Brown and

1051
00:59:14,720 --> 00:59:18,760
Speaker 5: not like it was it was twenty managers competing for

1052
00:59:19,480 --> 00:59:23,880
Speaker 5: UH to sign Shakira and everybody flew to Barcelona within

1053
00:59:23,920 --> 00:59:27,080
Speaker 5: two days. So so when we get off the plane,

1054
00:59:27,200 --> 00:59:29,960
Speaker 5: I get off the plane and as the guys holding

1055
00:59:30,040 --> 00:59:32,920
Speaker 5: up the signs with every manager's name.

1056
00:59:33,000 --> 00:59:34,600
Speaker 7: In the fucking industry that I know.

1057
00:59:35,240 --> 00:59:36,960
Speaker 5: And it's like, oh my god, I thought I was

1058
00:59:37,000 --> 00:59:39,840
Speaker 5: the only person here, but it boiled down to me

1059
00:59:39,920 --> 00:59:45,400
Speaker 5: and Jay Brown. Jay Brown beat me, but I want, like,

1060
00:59:45,520 --> 00:59:49,040
Speaker 5: I rather see it go to Jay. Yeah, but it's

1061
00:59:49,120 --> 00:59:52,520
Speaker 5: other stuff that I beat Rock Nation on that they

1062
00:59:52,560 --> 00:59:57,040
Speaker 5: would rather see it come to me. They put me

1063
00:59:57,080 --> 01:00:01,640
Speaker 5: in the stants, the stants apparel deal, Stance socks and

1064
01:00:01,680 --> 01:00:05,360
Speaker 5: Stance apparel. They put me in stands, I put them

1065
01:00:05,400 --> 01:00:11,280
Speaker 5: in Uber. They put me in a bunch of different deals.

1066
01:00:11,560 --> 01:00:13,880
Speaker 5: I put them in a bunch of different deals. That's

1067
01:00:13,920 --> 01:00:17,440
Speaker 5: our network. That's what we do for each other, and

1068
01:00:17,480 --> 01:00:21,480
Speaker 5: that's the that like that. But and then even down

1069
01:00:21,520 --> 01:00:27,200
Speaker 5: to conversations of mental wellness around this, how do you

1070
01:00:27,360 --> 01:00:31,120
Speaker 5: how do you manage your family around this? Because because

1071
01:00:31,400 --> 01:00:35,160
Speaker 5: the financial success is one thing, but how do you

1072
01:00:35,440 --> 01:00:39,000
Speaker 5: how do you manage your headspace as your as you're

1073
01:00:39,040 --> 01:00:42,440
Speaker 5: dealing with this because people my cousin said to me,

1074
01:00:43,320 --> 01:00:47,240
Speaker 5: this is what what like my my like and we're

1075
01:00:47,880 --> 01:00:51,000
Speaker 5: one of my close cousins who who we've been through

1076
01:00:51,600 --> 01:00:54,800
Speaker 5: like a life together. He was laughing at me one

1077
01:00:54,880 --> 01:00:57,720
Speaker 5: day because I think it was I was having an

1078
01:00:57,920 --> 01:01:03,280
Speaker 5: argument with my wife about something and he said, you

1079
01:01:03,440 --> 01:01:06,200
Speaker 5: still got these problems with all this money like that,

1080
01:01:06,360 --> 01:01:06,800
Speaker 5: Like that's.

1081
01:01:06,680 --> 01:01:07,720
Speaker 7: What that was his comment.

1082
01:01:08,840 --> 01:01:11,680
Speaker 5: I said, you think things go away.

1083
01:01:12,960 --> 01:01:16,640
Speaker 6: You think you didn't listen to big money more problems. Yo,

1084
01:01:17,160 --> 01:01:20,960
Speaker 6: It's just it's just it's different, you know what I'm saying.

1085
01:01:21,120 --> 01:01:25,400
Speaker 5: Like the difference is like, certain you become a bigger target,

1086
01:01:26,680 --> 01:01:30,520
Speaker 5: You become a bigger target. But I still deal with

1087
01:01:30,560 --> 01:01:34,560
Speaker 5: the same problems with like my kids that other people

1088
01:01:34,600 --> 01:01:37,200
Speaker 5: deal with with their kids. I probably still have some

1089
01:01:37,240 --> 01:01:40,120
Speaker 5: of the same conversations with my wife that other people

1090
01:01:40,160 --> 01:01:42,520
Speaker 5: might have with their wife. I still have the same

1091
01:01:43,240 --> 01:01:46,160
Speaker 5: conversations with a doctor that other people would have with

1092
01:01:46,200 --> 01:01:50,200
Speaker 5: their doctor. Like, So you're still a human being. But

1093
01:01:50,520 --> 01:01:55,360
Speaker 5: as a lot of times as black men in these situations,

1094
01:01:56,080 --> 01:01:59,320
Speaker 5: you feel isolated and a loan as you're navigating it.

1095
01:01:59,600 --> 01:02:04,120
Speaker 5: Because if I can't call some of my friends in

1096
01:02:04,160 --> 01:02:08,480
Speaker 5: Philly and complain about certain things when they might be

1097
01:02:08,560 --> 01:02:13,240
Speaker 5: dealing with a mortgage issue or you know, or whatever else,

1098
01:02:13,360 --> 01:02:16,000
Speaker 5: Like it's certain things that I might want to like

1099
01:02:16,160 --> 01:02:19,000
Speaker 5: that might be a real problem to me that they

1100
01:02:19,080 --> 01:02:21,840
Speaker 5: might look at me like I'm crazy for talking to

1101
01:02:21,880 --> 01:02:24,520
Speaker 5: them about but nevertheless, it's still a problem, so I

1102
01:02:24,600 --> 01:02:27,160
Speaker 5: gotta talk to somebody about it. So it's good to

1103
01:02:27,160 --> 01:02:30,560
Speaker 5: be able to talk to people who have who are

1104
01:02:30,640 --> 01:02:33,520
Speaker 5: living it at the same exact time that can help

1105
01:02:33,960 --> 01:02:35,840
Speaker 5: or might have lived it right before you that can

1106
01:02:35,920 --> 01:02:36,920
Speaker 5: help you get through it.

1107
01:02:38,520 --> 01:02:40,240
Speaker 4: That is a fact. That is a fact.

1108
01:02:41,840 --> 01:02:43,600
Speaker 7: Art it's shame is the way of that.

1109
01:02:43,720 --> 01:02:46,720
Speaker 5: Not to cut you off, but I think it's important

1110
01:02:46,880 --> 01:02:53,480
Speaker 5: because embarrassment and shame will hold us back from sharing

1111
01:02:53,520 --> 01:02:57,880
Speaker 5: that with other other brothers assistance, you know what I'm saying.

1112
01:02:58,960 --> 01:03:02,360
Speaker 2: Yeah, And it's there's something like you said, it's important

1113
01:03:02,400 --> 01:03:04,800
Speaker 2: to speak about because no matter what level of life

1114
01:03:04,800 --> 01:03:07,360
Speaker 2: that you're on, you have to have peers, and then

1115
01:03:07,400 --> 01:03:10,160
Speaker 2: sometimes you don't have the peers or your peers won't

1116
01:03:10,320 --> 01:03:13,160
Speaker 2: communicate if they feel like, you know, they don't want

1117
01:03:13,200 --> 01:03:16,560
Speaker 2: to you know, let people in on their business or

1118
01:03:16,760 --> 01:03:21,760
Speaker 2: you know, and it's like, you know, unfortunately, as black people,

1119
01:03:21,960 --> 01:03:26,200
Speaker 2: the you know, the majority of people are not at

1120
01:03:26,200 --> 01:03:32,040
Speaker 2: an economic level where they're peers with millionaires or multi millionaires,

1121
01:03:32,040 --> 01:03:34,280
Speaker 2: like you know, majority of people are not peers with that.

1122
01:03:34,520 --> 01:03:38,440
Speaker 2: So like now said, my tax bracket not enough blacks haveage.

1123
01:03:38,600 --> 01:03:40,200
Speaker 4: Yeah, it's just reality.

1124
01:03:40,480 --> 01:03:42,840
Speaker 6: I think I heard you said earlier the cultural conversation

1125
01:03:42,960 --> 01:03:43,400
Speaker 6: is changing.

1126
01:03:43,840 --> 01:03:44,960
Speaker 3: I like that because it is.

1127
01:03:45,160 --> 01:03:47,840
Speaker 6: It is like what you were talking about with Jay

1128
01:03:47,880 --> 01:03:49,800
Speaker 6: Brown and talking about with Big John.

1129
01:03:49,840 --> 01:03:51,640
Speaker 3: Those things were happening at that level.

1130
01:03:51,960 --> 01:03:55,520
Speaker 6: But I feel like that group of guys that we

1131
01:03:55,560 --> 01:03:57,720
Speaker 6: looked up to, the Jay's and the Puffs, they showed

1132
01:03:57,800 --> 01:04:00,560
Speaker 6: us indirectly, but I felt like nobody hold us that

1133
01:04:00,640 --> 01:04:03,120
Speaker 6: gave us the blueprint. We could watch the blueprint, but

1134
01:04:03,160 --> 01:04:05,480
Speaker 6: I feel like now the cultural conversation is changing where

1135
01:04:05,480 --> 01:04:07,840
Speaker 6: the blueprint is actually there for you now, which is

1136
01:04:07,880 --> 01:04:09,120
Speaker 6: about about the clubhouse.

1137
01:04:09,440 --> 01:04:12,200
Speaker 5: That's that was one of the things I loved about Clubhouse,

1138
01:04:12,320 --> 01:04:14,560
Speaker 5: like where you know, I think it's you know, like

1139
01:04:14,600 --> 01:04:18,000
Speaker 5: with any platform, by the way, you're gonna have posers

1140
01:04:18,040 --> 01:04:22,920
Speaker 5: and bad information and and you know, and and specialists

1141
01:04:22,960 --> 01:04:28,040
Speaker 5: who aren't specialists. But there's a lot of good information

1142
01:04:28,200 --> 01:04:31,200
Speaker 5: on there, man, like you know, and a lot of

1143
01:04:31,320 --> 01:04:35,720
Speaker 5: conversations that you know, in even a conversation that we

1144
01:04:35,720 --> 01:04:39,280
Speaker 5: were referencing earlier, you know, with with Meek and Swiss

1145
01:04:39,360 --> 01:04:43,320
Speaker 5: and and and Trap and a few other people or whatever.

1146
01:04:43,920 --> 01:04:49,320
Speaker 5: That conversation to me was like I talked offline like

1147
01:04:49,400 --> 01:04:54,320
Speaker 5: cause I got I got a group text with probably

1148
01:04:54,480 --> 01:05:01,360
Speaker 5: fifteen people who are usually on clubhouse, and it's it's

1149
01:05:01,400 --> 01:05:06,000
Speaker 5: a It's such a beautiful thing, man, for when people

1150
01:05:06,040 --> 01:05:08,600
Speaker 5: to have a question, to be able to have a

1151
01:05:08,640 --> 01:05:12,800
Speaker 5: place to go to ask it without being embarrassed, and

1152
01:05:13,160 --> 01:05:17,760
Speaker 5: also for people to be able because like you said, it.

1153
01:05:17,680 --> 01:05:21,960
Speaker 7: May not, it does because it's not just this like.

1154
01:05:24,440 --> 01:05:27,480
Speaker 5: I don't have as much money as jay Z, you

1155
01:05:27,520 --> 01:05:32,080
Speaker 5: know or puff Hopefully I'll get there, but you know,

1156
01:05:32,320 --> 01:05:37,400
Speaker 5: just the reality is it's like they're billionaire, they're legit billionaires.

1157
01:05:37,440 --> 01:05:42,680
Speaker 5: Now with with with, with with with, But I still

1158
01:05:42,720 --> 01:05:46,520
Speaker 5: feel like I can have a conversation with them and

1159
01:05:47,280 --> 01:05:49,760
Speaker 5: ask them questions and learn from them, you know what

1160
01:05:49,760 --> 01:05:53,120
Speaker 5: I'm saying. And same way it could be somebody who

1161
01:05:53,200 --> 01:05:56,400
Speaker 5: might they might only have I talk to some of

1162
01:05:56,440 --> 01:06:00,760
Speaker 5: my friends who might have a few thousand dollars left

1163
01:06:00,840 --> 01:06:03,520
Speaker 5: over that they get that they could play with that.

1164
01:06:03,560 --> 01:06:07,240
Speaker 5: They're like, what should I do? And a couple of

1165
01:06:07,280 --> 01:06:09,480
Speaker 5: those friends I put in deals with me. I'm like,

1166
01:06:09,560 --> 01:06:11,640
Speaker 5: you know what, put that a little bit of money,

1167
01:06:11,680 --> 01:06:13,720
Speaker 5: put that in triller, put that.

1168
01:06:13,760 --> 01:06:16,200
Speaker 7: In this place, put that in this place, you know,

1169
01:06:16,360 --> 01:06:17,000
Speaker 7: like so.

1170
01:06:18,560 --> 01:06:21,520
Speaker 5: Because it's access a lot of times, so it's not

1171
01:06:21,600 --> 01:06:25,520
Speaker 5: just about the amount, it's just about access sometimes.

1172
01:06:26,840 --> 01:06:29,840
Speaker 4: That's a fact. Can we talk about art? I want

1173
01:06:29,880 --> 01:06:30,640
Speaker 4: to talk about art?

1174
01:06:32,520 --> 01:06:35,080
Speaker 2: How Yeah, because we haven't really spoke about art at all,

1175
01:06:35,560 --> 01:06:38,520
Speaker 2: So artist inter it. This is the question I asked

1176
01:06:38,560 --> 01:06:42,000
Speaker 2: you in clubhouse. I was saying, like, because we were

1177
01:06:42,000 --> 01:06:45,560
Speaker 2: heavy in stocks. So you know, you buy a stock,

1178
01:06:45,800 --> 01:06:48,440
Speaker 2: you buy Apple at one hundred and twenty dollars, it

1179
01:06:48,520 --> 01:06:51,640
Speaker 2: goes to two hundred and forty dollars. You double your money, right,

1180
01:06:51,680 --> 01:06:54,160
Speaker 2: Like you kind of know Apple is a good company.

1181
01:06:54,200 --> 01:06:55,920
Speaker 2: You can look at the bottom line, you can look

1182
01:06:55,920 --> 01:06:58,720
Speaker 2: at the revenue, you can look at you know, new releases,

1183
01:06:58,800 --> 01:07:01,680
Speaker 2: product lines, and you make it educated decision that this

1184
01:07:01,800 --> 01:07:04,400
Speaker 2: is a company that will probably go up in the future.

1185
01:07:04,840 --> 01:07:07,280
Speaker 2: I feel like art is just really subjective though. It's

1186
01:07:07,360 --> 01:07:10,760
Speaker 2: like one person could look at a painting and say

1187
01:07:10,760 --> 01:07:13,880
Speaker 2: that that's terrible. Another person can say that that's the

1188
01:07:13,920 --> 01:07:17,480
Speaker 2: best painting in the world, and they're both could.

1189
01:07:17,280 --> 01:07:20,840
Speaker 4: Be right, right. It's like it's all subjective. So for

1190
01:07:21,080 --> 01:07:23,880
Speaker 4: how do you value art? How is art valued?

1191
01:07:24,000 --> 01:07:27,040
Speaker 2: It seems like it's extremely complicated to know if something's

1192
01:07:27,040 --> 01:07:28,320
Speaker 2: going to be good or not, Like, how do you

1193
01:07:28,360 --> 01:07:30,800
Speaker 2: look at something and say this is a good investment

1194
01:07:30,840 --> 01:07:31,400
Speaker 2: to invest in.

1195
01:07:32,040 --> 01:07:36,920
Speaker 5: By the way, stocks are very subjective to because when

1196
01:07:36,960 --> 01:07:41,080
Speaker 5: you look at price to earnings ratio on some companies

1197
01:07:41,200 --> 01:07:44,920
Speaker 5: or you look you know, it's it's it could be

1198
01:07:45,160 --> 01:07:50,880
Speaker 5: very subjective. X yeah, yeah, it could be very subjective.

1199
01:07:50,960 --> 01:07:55,000
Speaker 5: And you know, I think a lot more information is

1200
01:07:55,040 --> 01:07:57,520
Speaker 5: there when you're a publicly traded company in terms of

1201
01:07:57,560 --> 01:07:58,520
Speaker 5: the transparency.

1202
01:07:59,080 --> 01:08:02,000
Speaker 7: But like you know, one analyst.

1203
01:08:01,560 --> 01:08:06,720
Speaker 5: May say this this stock is terrible. Another analyst might

1204
01:08:06,760 --> 01:08:09,960
Speaker 5: say this stock is wonderful, you know, and that's why

1205
01:08:10,000 --> 01:08:12,800
Speaker 5: you got you know, short sellars and you got you know,

1206
01:08:12,800 --> 01:08:16,040
Speaker 5: people who are taking you know, big, big, big bets.

1207
01:08:16,320 --> 01:08:20,800
Speaker 5: So so I think it's it's some similarities there for sure. Well,

1208
01:08:20,960 --> 01:08:24,680
Speaker 5: art is it's a lot like stock in terms of

1209
01:08:25,160 --> 01:08:32,800
Speaker 5: information because like because information is is is everything so

1210
01:08:33,280 --> 01:08:36,880
Speaker 5: and so, and art is not as complicated as people

1211
01:08:36,960 --> 01:08:39,640
Speaker 5: think when it's when it when it's just access to

1212
01:08:39,680 --> 01:08:43,320
Speaker 5: the information is what is what? What's closed a lot

1213
01:08:43,360 --> 01:08:47,639
Speaker 5: of times, so the way it works is that safe.

1214
01:08:47,680 --> 01:08:52,840
Speaker 5: For instance, there's it's funny I get to turn around

1215
01:08:52,880 --> 01:08:55,720
Speaker 5: right here, I got a couple like it's some I

1216
01:08:55,760 --> 01:08:58,040
Speaker 5: don't know if you can see it, but there's a

1217
01:08:58,040 --> 01:09:04,000
Speaker 5: few paintings right there. So yeah, so so those are

1218
01:09:04,479 --> 01:09:11,320
Speaker 5: that's a brand new artists. Uh, Austin Azor is the

1219
01:09:11,439 --> 01:09:17,240
Speaker 5: artist's name who I think his work is fantastic, really

1220
01:09:17,280 --> 01:09:23,240
Speaker 5: great work, brand new artists. The person, the dealer that

1221
01:09:23,280 --> 01:09:28,120
Speaker 5: I that I bought it from is an incredibly talented

1222
01:09:29,479 --> 01:09:34,080
Speaker 5: dealer who really is great and has a great track

1223
01:09:34,160 --> 01:09:40,400
Speaker 5: record for discovering young artists who end up becoming you know, uh,

1224
01:09:40,520 --> 01:09:45,200
Speaker 5: successful artists. And so I'm so a lot of it

1225
01:09:45,240 --> 01:09:49,479
Speaker 5: is I like the work, but just because I like

1226
01:09:49,680 --> 01:09:53,840
Speaker 5: work doesn't necessarily mean I'm going to invest money into

1227
01:09:54,040 --> 01:09:59,200
Speaker 5: and into the work, and because especially when it's expensive.

1228
01:10:00,080 --> 01:10:04,519
Speaker 5: His work in particular wasn't that wasn't that expensive. But

1229
01:10:04,720 --> 01:10:07,840
Speaker 5: if you're I got friends who are who are gonna

1230
01:10:07,880 --> 01:10:11,120
Speaker 5: who They say, Okay, I got twenty five thousand dollars,

1231
01:10:11,200 --> 01:10:14,080
Speaker 5: I'm gonna uh that I'm gonna buy I'm gonna buy

1232
01:10:14,080 --> 01:10:17,400
Speaker 5: that painting. What I'll tell them is, Okay, if you

1233
01:10:17,479 --> 01:10:20,080
Speaker 5: got twenty five thousand dollars to spend on a painting,

1234
01:10:20,880 --> 01:10:24,559
Speaker 5: I'm going to send you over thirty artists within that

1235
01:10:24,640 --> 01:10:30,920
Speaker 5: price range, who have great work and who have a

1236
01:10:30,960 --> 01:10:34,960
Speaker 5: great trajectory in terms of what their career looks like.

1237
01:10:35,760 --> 01:10:38,360
Speaker 5: Because the twenty five thousand dollars that you're getting ready

1238
01:10:38,360 --> 01:10:42,559
Speaker 5: to spend, you can spend it if you like that artist,

1239
01:10:42,600 --> 01:10:46,080
Speaker 5: that's great, but it's probably never going to be a

1240
01:10:46,200 --> 01:10:49,519
Speaker 5: resell value on that and in fact, you may not

1241
01:10:49,600 --> 01:10:52,439
Speaker 5: be able to ever sell sell it again. But you know,

1242
01:10:52,520 --> 01:10:56,360
Speaker 5: because it's like, it's very expensive for artists that no

1243
01:10:56,400 --> 01:11:00,439
Speaker 5: one's ever heard of before, and so you got market

1244
01:11:00,479 --> 01:11:08,320
Speaker 5: makers who big from from collectors, museums, certain galleries, certain curators,

1245
01:11:10,080 --> 01:11:14,919
Speaker 5: certain art critics who can make make or break artists essentially,

1246
01:11:15,320 --> 01:11:19,880
Speaker 5: So within that network, they're basically saying, these are the

1247
01:11:19,920 --> 01:11:25,360
Speaker 5: next generation of artists that we feel is gonna sort

1248
01:11:25,360 --> 01:11:27,960
Speaker 5: of graduate to certain certain levels.

1249
01:11:29,360 --> 01:11:32,439
Speaker 2: So it's like music, where you have a gatekeepers that's

1250
01:11:32,439 --> 01:11:38,360
Speaker 2: pretty much stamping something like this Bobby Schmurtis song is

1251
01:11:38,400 --> 01:11:40,640
Speaker 2: the song that radio should play. We believe in it,

1252
01:11:40,640 --> 01:11:43,639
Speaker 2: we're gonna push it. That's a little discouraging though, because

1253
01:11:43,640 --> 01:11:44,559
Speaker 2: it's like artists.

1254
01:11:45,320 --> 01:11:48,559
Speaker 5: So the only difference in it, though, right is where

1255
01:11:48,560 --> 01:11:54,520
Speaker 5: the consumer and music sort of have the last choice,

1256
01:11:54,960 --> 01:11:58,639
Speaker 5: Like and the gatekeepers and and our and and and

1257
01:11:58,640 --> 01:12:02,200
Speaker 5: and the music business can only get it but so far.

1258
01:12:03,520 --> 01:12:06,120
Speaker 5: But then the end of it, the consumer has to

1259
01:12:06,160 --> 01:12:10,320
Speaker 5: buy it, and and and and the art In art,

1260
01:12:10,520 --> 01:12:14,880
Speaker 5: the art market specifically, is different in the sense of

1261
01:12:16,160 --> 01:12:27,320
Speaker 5: as as a collector that has influence, you also can

1262
01:12:27,400 --> 01:12:35,639
Speaker 5: influence price and interest. So if Swiss says he goes

1263
01:12:35,680 --> 01:12:40,639
Speaker 5: on Instagram and says he's collecting an artist, that artist,

1264
01:12:40,800 --> 01:12:42,439
Speaker 5: a lot of people are going to pay attention to

1265
01:12:42,479 --> 01:12:47,680
Speaker 5: that artist. If Filma Golden, who runs Studio Museum in Harlem,

1266
01:12:48,080 --> 01:12:51,280
Speaker 5: goes on Instagram and says she likes an artist, is

1267
01:12:51,400 --> 01:12:55,680
Speaker 5: lights out for that artist at that point. If Goigosian

1268
01:12:55,920 --> 01:13:00,439
Speaker 5: Gallery says they're signing an artist, their price on that

1269
01:13:00,600 --> 01:13:04,800
Speaker 5: art that artist prices just double automatically. And so as

1270
01:13:04,840 --> 01:13:09,280
Speaker 5: a collector who has a bit of influence, I want

1271
01:13:09,280 --> 01:13:12,719
Speaker 5: to make sure that prices don't go below what I paid.

1272
01:13:13,840 --> 01:13:17,360
Speaker 5: So I'm going to make sure that artists if that

1273
01:13:17,520 --> 01:13:21,720
Speaker 5: artist work comes up for auction, you you want to

1274
01:13:21,760 --> 01:13:25,400
Speaker 5: make sure that that that price goes more at the

1275
01:13:25,479 --> 01:13:27,679
Speaker 5: end of the day, because now all of the work

1276
01:13:27,680 --> 01:13:30,240
Speaker 5: in your collection from that artist just went up.

1277
01:13:32,360 --> 01:13:34,519
Speaker 6: Yeah, but even in that space right to get into

1278
01:13:34,560 --> 01:13:36,919
Speaker 6: a museum or to get in some of these galleries,

1279
01:13:36,960 --> 01:13:39,439
Speaker 6: I feel like sometimes the artist has to raise the

1280
01:13:39,479 --> 01:13:41,439
Speaker 6: price obviously because if they're in there, there's going to

1281
01:13:41,439 --> 01:13:43,640
Speaker 6: be the commission fee. And that's kind of like I

1282
01:13:43,640 --> 01:13:45,760
Speaker 6: think what the premise of what Swiss did was having

1283
01:13:45,760 --> 01:13:47,800
Speaker 6: no commission, right, one hundred percent of the money goes

1284
01:13:47,800 --> 01:13:50,920
Speaker 6: to one hundred percent of the artist. So I mean,

1285
01:13:51,080 --> 01:13:52,559
Speaker 6: is it kind of doubles soil where it's like I

1286
01:13:52,600 --> 01:13:53,960
Speaker 6: have to do that in order to be in there?

1287
01:13:54,360 --> 01:13:55,519
Speaker 5: No? So you really?

1288
01:13:55,640 --> 01:13:55,800
Speaker 4: So?

1289
01:13:56,160 --> 01:13:59,760
Speaker 5: So is levels right? You don't want to ever go

1290
01:13:59,800 --> 01:14:04,960
Speaker 5: in and you don't want to your sole goal you

1291
01:14:05,040 --> 01:14:08,320
Speaker 5: want to be in great collections. You want to be

1292
01:14:08,520 --> 01:14:11,480
Speaker 5: with people who aren't going to flip your work to auctions.

1293
01:14:11,920 --> 01:14:16,000
Speaker 5: You want to be with people who are gonna lend

1294
01:14:16,040 --> 01:14:20,240
Speaker 5: your work to museums. You want to be a museum collections.

1295
01:14:20,680 --> 01:14:24,120
Speaker 5: So and in order to do that, you don't want

1296
01:14:24,160 --> 01:14:27,519
Speaker 5: to overprice your work. So you want to be at

1297
01:14:27,560 --> 01:14:32,200
Speaker 5: a reasonable price where good collectors don't feel like what

1298
01:14:32,320 --> 01:14:34,680
Speaker 5: I just told you that story about why would I

1299
01:14:34,920 --> 01:14:36,840
Speaker 5: buy this for that when I could get this for that?

1300
01:14:37,360 --> 01:14:38,720
Speaker 5: So it's like, so you want to go in with

1301
01:14:38,800 --> 01:14:41,920
Speaker 5: a good entry level. Once you get to a certain

1302
01:14:41,960 --> 01:14:45,519
Speaker 5: point and you're in those collections, then you most people

1303
01:14:45,640 --> 01:14:48,000
Speaker 5: end up going with a gallery that could sort of

1304
01:14:48,040 --> 01:14:50,599
Speaker 5: take them to the next level and get them into

1305
01:14:50,680 --> 01:14:56,080
Speaker 5: even better collections or more or or more global collections

1306
01:14:56,160 --> 01:15:00,360
Speaker 5: or more diverse collections, you know, at that point, and

1307
01:15:01,320 --> 01:15:04,760
Speaker 5: the value and the work ends up getting pushed up

1308
01:15:05,000 --> 01:15:09,080
Speaker 5: at that at that point, And so there is some

1309
01:15:09,160 --> 01:15:13,719
Speaker 5: prestige that comes along with being with a Gogosian gallery

1310
01:15:13,800 --> 01:15:17,880
Speaker 5: or as Werner or you know, or Houser and Worth

1311
01:15:17,960 --> 01:15:20,320
Speaker 5: or one of those big galleries like that too, who

1312
01:15:20,320 --> 01:15:20,680
Speaker 5: are going.

1313
01:15:20,640 --> 01:15:25,680
Speaker 2: To push So for me personally, let's say you know,

1314
01:15:25,960 --> 01:15:29,520
Speaker 2: I'm in stocks real estate and I'm looking to diversify

1315
01:15:29,640 --> 01:15:31,920
Speaker 2: my portfolio and I want to get I want to

1316
01:15:31,960 --> 01:15:34,840
Speaker 2: start investing in art. Say I have a budget around

1317
01:15:34,840 --> 01:15:37,280
Speaker 2: like like you said, twenty twenty five thousand dollars, I

1318
01:15:37,280 --> 01:15:40,760
Speaker 2: want to invest in art. What steps should I like?

1319
01:15:40,760 --> 01:15:41,800
Speaker 4: What? What what do I do?

1320
01:15:42,640 --> 01:15:45,639
Speaker 5: So? So so me personally, I don't invest I don't

1321
01:15:45,680 --> 01:15:48,840
Speaker 5: invest in art. That's a big thing for me. So

1322
01:15:49,040 --> 01:15:52,439
Speaker 5: I'm a like, I'm a collector. And and that's the

1323
01:15:52,680 --> 01:15:56,840
Speaker 5: difference because it's like you know, being somebody that collects

1324
01:15:57,000 --> 01:16:02,439
Speaker 5: my you know, I whole long term. So it's like,

1325
01:16:02,520 --> 01:16:04,760
Speaker 5: so I'm not I'm not buying the work to sell

1326
01:16:04,800 --> 01:16:07,240
Speaker 5: the work. I like the fact that it grows in

1327
01:16:07,320 --> 01:16:08,240
Speaker 5: value by the way.

1328
01:16:08,720 --> 01:16:11,640
Speaker 2: Well even well maybe not like I want to trade it,

1329
01:16:11,680 --> 01:16:13,479
Speaker 2: but I just want to hold something like buy a hole,

1330
01:16:13,520 --> 01:16:15,520
Speaker 2: like I want to hold the stock like for twenty.

1331
01:16:15,280 --> 01:16:16,960
Speaker 4: Thirty artwork for one million.

1332
01:16:17,040 --> 01:16:19,600
Speaker 2: Yeah, like I just you know, I just want to

1333
01:16:19,600 --> 01:16:21,280
Speaker 2: buy some art that's going to appreciate.

1334
01:16:21,680 --> 01:16:22,960
Speaker 4: How to what should I.

1335
01:16:22,920 --> 01:16:29,439
Speaker 5: Do if I'm buying art to appreciate, I'm looking at

1336
01:16:29,760 --> 01:16:33,800
Speaker 5: young artists, you know, if and that if I'm if

1337
01:16:33,840 --> 01:16:38,639
Speaker 5: my budget's twenty five thousand, I'm probably looking at artists

1338
01:16:38,640 --> 01:16:44,439
Speaker 5: and the two to five thousand dollars range, And those.

1339
01:16:44,240 --> 01:16:45,840
Speaker 7: Are the artists that I'm collecting.

1340
01:16:47,120 --> 01:16:53,080
Speaker 5: I'm looking at curators who are in with incredibly young artists,

1341
01:16:53,280 --> 01:16:55,760
Speaker 5: you know, at the at the very beginning, because young

1342
01:16:55,920 --> 01:16:59,720
Speaker 5: artists will when you're there in the beginning when they're

1343
01:16:59,760 --> 01:17:03,200
Speaker 5: selling five thousand dollar paintings and you're the person that's

1344
01:17:03,200 --> 01:17:06,760
Speaker 5: buying those five thousand dollar paintings when their works are

1345
01:17:06,800 --> 01:17:11,360
Speaker 5: fifties to two hundred and fifty thousand. You know, those

1346
01:17:11,439 --> 01:17:16,280
Speaker 5: are those are collectors who those are artists who are

1347
01:17:16,720 --> 01:17:19,240
Speaker 5: definitely going to be looking out for you in the

1348
01:17:19,280 --> 01:17:21,000
Speaker 5: future for the most part when you can find it.

1349
01:17:21,160 --> 01:17:23,960
Speaker 5: You know people who are loyal like that because they

1350
01:17:24,000 --> 01:17:25,960
Speaker 5: appreciate it when they trying, when they're trying to keep

1351
01:17:25,960 --> 01:17:29,320
Speaker 5: their lights on. And they are artists that I bought

1352
01:17:29,360 --> 01:17:34,920
Speaker 5: their pieces at five five thousand dollars in la At,

1353
01:17:34,960 --> 01:17:38,479
Speaker 5: you know, a little gallery, and now it's like, you know,

1354
01:17:38,680 --> 01:17:45,519
Speaker 5: their pieces are crazy right now, Like I wouldn't I

1355
01:17:45,560 --> 01:17:47,960
Speaker 5: couldn't even buy their pieces on primary market.

1356
01:17:48,040 --> 01:17:50,559
Speaker 7: Now I'm like, I don't even feel right. I'm like,

1357
01:17:50,600 --> 01:17:52,400
Speaker 7: hold on, this is where they're at right now.

1358
01:17:52,720 --> 01:17:57,040
Speaker 5: But it's like, but those are people who who who

1359
01:17:57,280 --> 01:18:00,960
Speaker 5: appreciate it. But it's guys like Larry say Mensa as

1360
01:18:01,000 --> 01:18:05,120
Speaker 5: a curator out of the Bronx who has an incredible eye.

1361
01:18:05,760 --> 01:18:10,120
Speaker 5: He's there super early, and Larry puts me onto some

1362
01:18:10,280 --> 01:18:13,200
Speaker 5: artists when it's like before they even have a gallery,

1363
01:18:13,280 --> 01:18:17,760
Speaker 5: you're buying work from the studio. And what I and

1364
01:18:17,800 --> 01:18:20,160
Speaker 5: what I've been doing is putting all my friends who

1365
01:18:21,080 --> 01:18:27,719
Speaker 5: who are taking collecting seriously, who want to collect. We

1366
01:18:27,720 --> 01:18:30,360
Speaker 5: we got some guys who build in some great collections

1367
01:18:30,439 --> 01:18:33,920
Speaker 5: who just never collected art before. But they're like, you

1368
01:18:33,960 --> 01:18:37,639
Speaker 5: know what, they're having fun with it. They're buying young

1369
01:18:37,760 --> 01:18:42,200
Speaker 5: artists at great prices, and they're watching those artists appreciate.

1370
01:18:42,280 --> 01:18:46,080
Speaker 4: Now, how do you feel about NFTs.

1371
01:18:47,720 --> 01:18:51,120
Speaker 5: I think it's I think it's I think right now

1372
01:18:51,160 --> 01:18:57,759
Speaker 5: it's like super interesting because it's like is way over hyped,

1373
01:18:59,439 --> 01:19:07,479
Speaker 5: but it's it's absolutely here to stay in terms of

1374
01:19:07,560 --> 01:19:14,000
Speaker 5: how we think about collectibles and and it's funny. I

1375
01:19:14,080 --> 01:19:19,040
Speaker 5: did a call earlier today with UH with with the

1376
01:19:19,120 --> 01:19:21,960
Speaker 5: Princess State and and we were talking about, you know,

1377
01:19:22,080 --> 01:19:23,360
Speaker 5: just n F T S and I said, you know,

1378
01:19:24,160 --> 01:19:25,839
Speaker 5: really the way to think about.

1379
01:19:25,640 --> 01:19:26,400
Speaker 7: It is this.

1380
01:19:26,760 --> 01:19:30,960
Speaker 5: You know, it's another it's another merch category for us,

1381
01:19:31,080 --> 01:19:33,680
Speaker 5: and and so just look at it as simply just

1382
01:19:33,760 --> 01:19:39,000
Speaker 5: as another another category. But I think for artists it's

1383
01:19:39,040 --> 01:19:40,920
Speaker 5: going to be great in terms of being able to

1384
01:19:43,120 --> 01:19:50,280
Speaker 5: track your works, thinking about authenticity of works, to think

1385
01:19:50,320 --> 01:19:54,559
Speaker 5: about how about royalties and sort of making sure that

1386
01:19:54,600 --> 01:19:57,120
Speaker 5: you still participate financially.

1387
01:19:56,560 --> 01:19:57,280
Speaker 7: Along the way.

1388
01:19:59,120 --> 01:20:01,919
Speaker 5: But I love what's going I love that it's educating

1389
01:20:01,920 --> 01:20:02,880
Speaker 5: people on a space.

1390
01:20:03,000 --> 01:20:04,839
Speaker 7: That's the part I like about it the most.

1391
01:20:06,080 --> 01:20:08,880
Speaker 5: But but I just I just hope people don't get

1392
01:20:09,280 --> 01:20:13,080
Speaker 5: stuck with a lot of bad goods that won't actually

1393
01:20:13,240 --> 01:20:14,440
Speaker 5: increase in value.

1394
01:20:15,240 --> 01:20:17,439
Speaker 6: I'm glad you brought up the Prince of State because

1395
01:20:17,439 --> 01:20:20,479
Speaker 6: it's something I definitely wanted to talk to you about. Obviously,

1396
01:20:20,520 --> 01:20:23,080
Speaker 6: you're the entertainment advisor and you said that this is

1397
01:20:23,080 --> 01:20:24,400
Speaker 6: one of the things NFT is one of the things

1398
01:20:24,400 --> 01:20:25,000
Speaker 6: you're looking into.

1399
01:20:25,040 --> 01:20:27,400
Speaker 3: But what are you doing in that role? Is it?

1400
01:20:27,560 --> 01:20:29,519
Speaker 6: Are you the one that is making sure that the

1401
01:20:29,640 --> 01:20:32,719
Speaker 6: music and the catalogs are being distributed and licensed properly?

1402
01:20:33,760 --> 01:20:35,000
Speaker 3: And how did you come into the role?

1403
01:20:36,200 --> 01:20:39,000
Speaker 5: Yeah? I got a call for it'll be four years

1404
01:20:39,000 --> 01:20:44,519
Speaker 5: ago this month actually from one of the attorneys who

1405
01:20:44,560 --> 01:20:46,960
Speaker 5: worked with the state at that time, and they were

1406
01:20:46,960 --> 01:20:52,240
Speaker 5: making a change from the previous people who oversaw the

1407
01:20:52,400 --> 01:20:57,360
Speaker 5: state and ask what I'll be interested and and speaking

1408
01:20:57,400 --> 01:21:03,040
Speaker 5: to co America co America Bank was just started overseeing

1409
01:21:03,040 --> 01:21:05,600
Speaker 5: the state and what I'd be interested in working with

1410
01:21:05,680 --> 01:21:10,680
Speaker 5: them as an advisor on the entertainment assets. And of

1411
01:21:10,720 --> 01:21:13,639
Speaker 5: course the answer is like put me on what what what?

1412
01:21:13,640 --> 01:21:13,720
Speaker 4: What?

1413
01:21:13,880 --> 01:21:14,599
Speaker 7: Times the flight?

1414
01:21:15,400 --> 01:21:19,240
Speaker 5: And you know, I went flew to Minneapolis, did a

1415
01:21:19,280 --> 01:21:23,719
Speaker 5: presentation and and ended up started working with him about

1416
01:21:23,720 --> 01:21:24,439
Speaker 5: four years ago.

1417
01:21:24,520 --> 01:21:25,479
Speaker 7: But it's been amazing.

1418
01:21:25,560 --> 01:21:28,040
Speaker 5: So my job is just to figure out, you know,

1419
01:21:28,240 --> 01:21:32,479
Speaker 5: was the long term strategy around the entertainment assets, so

1420
01:21:32,640 --> 01:21:40,720
Speaker 5: from documentaries to you know, music releases, to partnerships, music licensing,

1421
01:21:41,400 --> 01:21:44,160
Speaker 5: and you know, you know, at some point being able

1422
01:21:44,200 --> 01:21:45,120
Speaker 5: to turn over.

1423
01:21:45,240 --> 01:21:48,080
Speaker 7: Uh uh uh clean.

1424
01:21:48,640 --> 01:21:54,679
Speaker 5: Organize beautiful asset over to his family members.

1425
01:21:56,400 --> 01:21:59,000
Speaker 6: Probably, so I'm thinking four years of that's around the

1426
01:21:59,040 --> 01:22:01,200
Speaker 6: time that Jay put out uh the song on for

1427
01:22:01,200 --> 01:22:03,599
Speaker 6: four four when he was talking about the estate. So

1428
01:22:03,800 --> 01:22:05,280
Speaker 6: were you a part of that deal when he when

1429
01:22:05,320 --> 01:22:10,160
Speaker 6: the music got licensed to the title, I was part

1430
01:22:10,280 --> 01:22:11,519
Speaker 6: of the.

1431
01:22:11,560 --> 01:22:16,439
Speaker 5: Deal and and and helping to mend J the j

1432
01:22:16,800 --> 01:22:21,679
Speaker 5: the title the state relationship. I'm like, we can't can't

1433
01:22:21,680 --> 01:22:24,719
Speaker 5: have fights in the family, you know one.

1434
01:22:24,840 --> 01:22:29,679
Speaker 2: When the family feuse is a fact, that is a fact. Well,

1435
01:22:30,160 --> 01:22:33,400
Speaker 2: mister Carter, it's a pleasure. Thank you, Thank you for

1436
01:22:33,520 --> 01:22:36,720
Speaker 2: joining us. Dally enjoyed the conversation. What would you like

1437
01:22:36,760 --> 01:22:40,080
Speaker 2: to uh tell the people, any initiatives or anything you

1438
01:22:40,080 --> 01:22:42,240
Speaker 2: would like to let the public be aware of.

1439
01:22:43,000 --> 01:22:45,759
Speaker 5: No, Look, I just love, love, love what you guys

1440
01:22:45,760 --> 01:22:49,240
Speaker 5: are doing and will continue to support and let's just

1441
01:22:49,360 --> 01:22:53,120
Speaker 5: keep you know, just the financial literacy out there, for

1442
01:22:53,520 --> 01:22:58,360
Speaker 5: the culture, for our people and and continue to push

1443
01:22:58,400 --> 01:22:59,679
Speaker 5: each other to the next level.

1444
01:22:59,720 --> 01:23:00,880
Speaker 7: But what you guys are.

1445
01:23:00,760 --> 01:23:03,920
Speaker 4: Done, appreciate appreciate Troy Housekeeping.

1446
01:23:03,600 --> 01:23:05,800
Speaker 6: Right, Yeah, shout with everybody on patreon dot com that

1447
01:23:05,960 --> 01:23:09,360
Speaker 6: is our proud to pay program. Obviously TIFI members, you

1448
01:23:09,400 --> 01:23:11,799
Speaker 6: have access to the number one school for financial literacy.

1449
01:23:11,880 --> 01:23:15,120
Speaker 3: That's ey l University number one, and everything.

1450
01:23:14,760 --> 01:23:18,439
Speaker 6: As far as business, entrepreneurism and pretty much anything you

1451
01:23:18,479 --> 01:23:21,759
Speaker 6: want as far as careers in the world. So shout

1452
01:23:21,800 --> 01:23:23,120
Speaker 6: to all the earners that are part of that and

1453
01:23:23,160 --> 01:23:26,919
Speaker 6: everybody that is supporting our merch on eyl dot com,

1454
01:23:27,120 --> 01:23:28,240
Speaker 6: Ornelisia dot com.

1455
01:23:28,680 --> 01:23:31,040
Speaker 3: We appreciate you for all.

1456
01:23:30,880 --> 01:23:33,880
Speaker 6: Your patients and all your diligence in this time of

1457
01:23:34,080 --> 01:23:35,880
Speaker 6: getting the merch out to So thank you for all

1458
01:23:35,920 --> 01:23:36,400
Speaker 6: your support.

1459
01:23:36,960 --> 01:23:38,720
Speaker 4: Yes, thank you guys for rock owners. We'll see you

1460
01:23:38,800 --> 01:23:39,519
Speaker 4: next week. Peace.

1461
01:23:39,600 --> 01:23:39,880
Speaker 3: Peace.

1462
01:23:40,520 --> 01:23:44,440
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