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Speaker 2: My graduates from my school being forts bad drop drop Mike,

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Speaker 2: drop back drop.

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Speaker 3: All right, guys, welcome back, euy l. This is gonna

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Speaker 3: be a fun episode, very very educational. I could feel it.

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Speaker 3: This is something that we've been looking forward to for

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Speaker 3: a while. So you know, one of the main initiatives

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Speaker 3: for this year is to focus more on tech because

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Speaker 3: you know, we talked about tech so much on when

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Speaker 3: we come to stocks Market, Mondays and stuff like that,

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Speaker 3: but we haven't really had a lot of tech entrepreneurs previously.

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Speaker 3: So this year we wanted to highlight tech entrepreneurs and

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Speaker 3: especially if you know, it's always a good when we

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Speaker 3: can do black tech entrepreneurs. So this is what we're

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Speaker 3: going to do today. And Rubyn Harris, somebody that was

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Speaker 3: introduced to me probably over a year year ago. Shout

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Speaker 3: out to my man Jason, Jason Lewis. So he actually

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Speaker 3: was telling me about you. Then he actually introduced me

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Speaker 3: to Sharen and then she introduced me to you, and

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Speaker 3: here we are now. So Ruben Young entrepreneur CEO of

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Speaker 3: Career Karma. So, Career Karma is a company that actually

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Speaker 3: matches candidates up with jobs in the in the tech industry,

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Speaker 3: correct job training programs in the tech industry. So just

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Speaker 3: closed the series B right, forty million dollars.

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Speaker 4: Last three years.

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Speaker 3: Yeah, So yeah, just raised raised fifty two million dollars

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Speaker 3: in the last two years. Currently has over two hundred.

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Speaker 4: Employees, two hundred employees on contracts.

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Speaker 3: Twenty three countries non states. Yeah, right, and eight figures

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Speaker 3: in revenue.

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Speaker 5: Correct, visit the sight every month?

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Speaker 3: Three million organic? That's right, that's right, people visit the

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Speaker 3: site every month. Am I missing anything?

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Speaker 5: I think twenty five got okay all the time? Bro,

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Speaker 5: I know you many.

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Speaker 4: Yeah, we're introducing twenty five thousand people a month to

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Speaker 4: job training programs.

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Speaker 3: And it's so Jason so like this is actually a

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Speaker 3: real testimony because Jason is he's from our neighborhood, friend

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Speaker 3: of mine, and he actually went through the job training

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Speaker 3: program and so that's why when he connected me, he

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Speaker 3: was like, yo, I actually like he actually went through it.

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Speaker 3: I'm not sure exactly what happened after that, but he

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Speaker 3: was so you know, enthusiastic about it. That's what actually

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Speaker 3: made him actually reach out to me and was like,

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Speaker 3: have you ever heard of this? This is somebody that

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Speaker 3: you gotta highlight because it's so great. So I just

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Speaker 3: before we even start the episode. Word of mouth is

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Speaker 3: always the best form of marketing and doing a good

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Speaker 3: job by people. It's always the best for marketing because

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Speaker 3: you never know who knows who. And that was a

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Speaker 3: way that you know, all of this gets connected, is

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Speaker 3: that you know, he actually goes through the job training

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Speaker 3: program and it's really really excited about it, feels good

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Speaker 3: about it, and then connects to dots.

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Speaker 4: So we just kept seeing you everywhere. Yeah, I mean

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Speaker 4: it's good people find people.

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Speaker 3: Yeah.

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Speaker 5: Yeah, I feel like I'm like here again, here again.

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Speaker 5: Then obviously yeah you got like.

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Speaker 4: And Jason Kep saying hey can you leadire and your

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Speaker 4: Leasia every time I seen you, guys is bigger and

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Speaker 4: bigger and big. This is not just a business, this

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Speaker 4: is a movement. I want to be part of that.

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Speaker 3: I appreciate it. So yeah, so this is gonna be

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Speaker 3: th conplience. Like I said, We're going to talk about

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Speaker 3: his start and starting a tech company Silicon Valley, the

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Speaker 3: ups and downs, raising money, the road to a billion

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Speaker 3: dollar valuation, all of the angel investors that you you know,

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Speaker 3: need to know about all of that stuff. So first

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Speaker 3: and foremost welcome.

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Speaker 4: Thank you for having me.

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Speaker 3: Yeah, so let's get into this. So how do you

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Speaker 3: get into starting a tech company when you don't have

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Speaker 3: You're not a tech guy originally, right, Like, you don't

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Speaker 3: have a tech background.

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Speaker 4: I don't have a tech background. I'm not a software engineer.

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Speaker 3: What is your background. What was you doing before this?

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Speaker 4: So I grew up in Atlanta, Georgia to Atlanta. I

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Speaker 4: grew up in Atlanta, Georgia. I'm a musician. I've been

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Speaker 4: playing the cello since I was four years old at

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Speaker 4: cell've been playing the cello solves four years old. So specialty,

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Speaker 4: that's a specialty. It's a different it's a different instrument.

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Speaker 4: But I was growing up, I wanted to become the

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Speaker 4: best musician in the world. So I did a lot

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Speaker 4: of student musician work things like that. My cello teacher

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Speaker 4: is the one who told me to actually get into

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Speaker 4: business because a lot of artists don't understand. They signed

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Speaker 4: up to a lot of bad deals. They don't understand

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Speaker 4: what's going on. And so I found a course online

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Speaker 4: where I was able to teach myself financial modeling, kind

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Speaker 4: of like Uile University. Became an investment banker and that

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Speaker 4: worked out very well, very quickly, the tech worlds started

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Speaker 4: taking over the technology the finance world, and one of

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Speaker 4: our buddies, he quit the investment banking became a software engineer.

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Speaker 4: When I was in investment banking, I met one of

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Speaker 4: my co founders, Archermeister, and his twin brother, and none

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Speaker 4: of us knew how to code, and Atlanta Tech Village

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Speaker 4: had popped up across the street, and we're like, what's

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Speaker 4: this tech thing that's happening, and everybody kept talking about

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Speaker 4: Silicon Valley. There was a company called bit pay across

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Speaker 4: the street at the same time that coinbase was starting early.

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Speaker 4: So we saw crypto very very early days, and we

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Speaker 4: were like, if we want to start a company, like

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Speaker 4: you said, if you want to start a billion dollar company,

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Speaker 4: it has to have tech at his core. But none

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Speaker 4: of us knew how to code. And that guy that

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Speaker 4: quit the bank and became a self engineer, he did

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Speaker 4: it in three months. He went to something called a

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Speaker 4: boot camp, which is a job training program, and so

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Speaker 4: that boot camp had a guy named Jack Altman who

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Speaker 4: runs a company called Lattus today, who was also investment banker.

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Speaker 4: He did the boot camp and he was a self

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Speaker 4: engineer and his brother was Sam Altman, who was the

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Speaker 4: president of y Combinator at the time, which we'll talk

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Speaker 4: about in a second. And that's when we learned that

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Speaker 4: there's these accelerators that will train you to be entrepreneurs,

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Speaker 4: and there's these boot camp instead will train you even

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Speaker 4: if you didn't go to college to get six figures

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Speaker 4: and then teach you how to build billion dollar companies.

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Speaker 4: And the two things were all paused here that Y

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Speaker 4: Combinator says, if you want to start a billion dollar company,

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Speaker 4: you have to write code, you have to talk to users.

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Speaker 4: So my co founders decided they're going to be the

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Speaker 4: right code guys, and now it's going to be the

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Speaker 4: top to users guys, which is the CEO and the

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Speaker 4: person that sells. So that's where it started.

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Speaker 5: All right, So we've heard combinator before, shout the player

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Speaker 5: as lounds. Yeah, one of the companies that we actually

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Speaker 5: covered on Alisia, your partners, you knew them from the

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Speaker 5: bank and they, you guys, moved and went to Y

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Speaker 5: Combinator altogether. How did that process take place?

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Speaker 4: We didn't go to Y Combinator immediately. It's harder to

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Speaker 4: get into Y Combinator than stand.

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Speaker 3: Well, let's let's let's just talk about because some people

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Speaker 3: might not have seen that episode. Can you explain what

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Speaker 3: why Combinator is.

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Speaker 4: So Y Combinator is the world's largest tech accelerator. So

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Speaker 4: in the last sixteen years they've generated three hundred billion

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Speaker 4: in value. So companies like Airbnb, Stripe, drop box, door

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Speaker 4: that that was all created through y Combinator. So what

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Speaker 4: they do is they'll let anybody apply. There's two cohorts

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Speaker 4: a year, and if you get accepted, they'll give you money.

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Speaker 4: In our case it was one hundred and fifty thousand dollars.

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Speaker 4: They take seven percent, and then you're part of a network,

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Speaker 4: a club of all the other Y Comminator company. So

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Speaker 4: there's over two thousand y Combinator company. So I can

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Speaker 4: email any CEO in the network and we're fam and

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Speaker 4: we look out for each other. And essentially they help

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Speaker 4: you raise money, which is how I was able to

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Speaker 4: learn how to raise all this money. And then you're

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Speaker 4: able to get mentors that help you execute after you

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Speaker 4: raise money, to build and solve problems that you've set

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Speaker 4: out to do.

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Speaker 5: So Tim and you're the person that decided you're going

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Speaker 5: to go to y Combinator.

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Speaker 4: So what happened is so we said we wanted to

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Speaker 4: do y Combinator, but to get to the point where

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Speaker 4: you're n y Combinator, our philosophy was like, rather than

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Speaker 4: go straight into starting a company, US work at tech

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Speaker 4: companies first, and rather than work for the same tech company.

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Speaker 4: Let's actually learn the game first and in the same

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Speaker 4: amount of time, let's take three years and split up.

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Speaker 4: So Archer he decided to go to a fintech marketplace

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Speaker 4: called Funding Circle, so he went there Early Team Or

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Speaker 4: he was an auto trader at the time, which is

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Speaker 4: a car marketplace. And then he wanted to get into

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Speaker 4: augmented reality, so he went to Blipper. And then I

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Speaker 4: went to an education company called alt School, and then

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Speaker 4: a healthcare company called Honor, and then a political company

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Speaker 4: called Hustle, and so we all spent time during that

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Speaker 4: period learning our skills. So I focused on sales, they

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Speaker 4: focused on self engineering. My brother also went to a

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Speaker 4: boot camp. He became a software engineer at a healthcare company.

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Speaker 4: And we did that for about three years, and then

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Speaker 4: we organized a bunch of events in the city of

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Speaker 4: San Francisco that I learned about to build my network,

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Speaker 4: and then we eventually started the company.

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Speaker 5: All right, so everybody decided, look, I got a skill,

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Speaker 5: let me go master it. You have a skill, go

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Speaker 5: master it. You got a skill, go master it.

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Speaker 4: Let's come back together, like a backwards version of the

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Speaker 4: wilten clients I started together and then they eventually split

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Speaker 4: you split and then came back together.

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Speaker 5: That's a real team work.

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Speaker 3: So all right, so when you started it, you have

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Speaker 3: one hundred and fifty thousand dollars as startup. Did you

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Speaker 3: have any other money outside of that or that was

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Speaker 3: like that?

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Speaker 4: So that's a good question when we applied to why Combinator.

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Speaker 4: So this is actually an interesting story. So I told

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Speaker 4: you I was a musician. I did studient musician work.

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Speaker 4: I did stuff with like Zetoven, I did stuff with

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Speaker 4: triggering and dream, all these different people. That's how I

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Speaker 4: got into the club space. So I did. I used

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Speaker 4: to promote parties with Studio seventy two and Jermaine Prix,

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Speaker 4: stuff like that. I took that same philosophy in Atlanta.

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Speaker 4: This is how I met Michael Sibel. I did it.

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Speaker 4: I noticed that they people kept saying there's no black

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Speaker 4: people in tech. So and a lot of the events

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Speaker 4: were like world boring. So I did a big party

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Speaker 4: at a club in San Francisco called Infusion Lo. It

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Speaker 4: was kind of like the event that you and I

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Speaker 4: met in Oakland. And I made sure that instead of

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Speaker 4: having celebrities, we had founders and CEOs and one of

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Speaker 4: the people that was there was Michael Sabel, who is

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Speaker 4: now the CEO of a combinator that started Twitch. It

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Speaker 4: was a beautiful event and when Michael met us, he

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Speaker 4: pretty much was like, hey, you guys, just start a company.

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Speaker 4: Let us know. And at the time we actually started up.

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Speaker 5: That's the conversation.

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Speaker 4: Yeah you started, let me start a company. Like you

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Speaker 4: see what you're doing you out here, like, have a

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Speaker 4: good night.

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Speaker 3: Yeah, he started twitch.

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Speaker 4: He started Twitch.

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Speaker 3: Yeah.

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Speaker 4: So Michael Sible was a black man.

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Speaker 3: Yeah, yeah, definitely.

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Speaker 5: Yeah.

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Speaker 4: So and what's interesting is that similar to you guys

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Speaker 4: when we came when we got our first jobs and technology,

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Speaker 4: we wrote a story about it called Breaking the Startups.

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Speaker 4: That took off and then it turned into a podcast.

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Speaker 4: And so when Michael was like, you need to start

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Speaker 4: a company, we was like, we started this podcast. He

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Speaker 4: was like, have you quit your job though? Are you

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Speaker 4: doing it full time? Like you got right? I wasn't

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Speaker 4: doing it like that. He was like, I said no.

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Speaker 4: He said, well you're not ready yet, so check it out.

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Speaker 4: I quit my job to go full time. We applied

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Speaker 4: to y combinator, got rejected. That might what's going on?

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Speaker 4: He said, start a company then, so he says, so

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Speaker 4: he says, he says either CEO right, I said yeah,

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Speaker 4: he said go raise, So so I set out to

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Speaker 4: raise one hundred and fifty thousand. I ended up raising

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Speaker 4: three hundred thousand in two weeks. And then I applied

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Speaker 4: to why Combinator again and then got in and then

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Speaker 4: eventually had about half a million before we when we

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Speaker 4: were going through the cohors.

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Speaker 3: So, yeah, how do you apply for why Comminator?

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Speaker 4: You literally just apply. You go to lack why comminated

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Speaker 4: our contrast, apply and it breaks down what you got

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Speaker 4: to do. So the reason we didn't get in the

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Speaker 4: first time, personally, I believe is because I didn't do

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Speaker 4: the best job of communication. One of the biggest things

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Speaker 4: this is this is important not just for entrepreneurship but

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Speaker 4: even career navigation in general, is like, you want to

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Speaker 4: explain what do you do very clearly. What problem are

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Speaker 4: you solving for?

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Speaker 5: Who?

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Speaker 4: How often do they have that problem? How are you

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Speaker 4: solving it software? And when you solve it, how do

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Speaker 4: you make money? How much traction do you have? Have

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Speaker 4: you launched, are you going at it full time? Who's

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Speaker 4: technical on your team? What market are you dressing? How

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Speaker 4: big is that market? Those are essentially like the the

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Speaker 4: the the foundational questions that they'll be asking you. And

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Speaker 4: it's very similar to like when you're trying to play

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Speaker 4: for a company. They're not looking to see if you

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Speaker 4: actually know how to code or know how to sell.

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Speaker 4: They're looking to see, like who are you and how

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Speaker 4: can you solve problems for me at this company?

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Speaker 3: So okay, so all right, so you go through. And

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Speaker 3: then one other thing about why comedy is that it's

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Speaker 3: also something where like all the successful tech founders come

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Speaker 3: and speak to you guys. Right, Yeah, it's like it's

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Speaker 3: like a camp almost right, Yeah, how long is it?

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Speaker 4: Three months?

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Speaker 3: Three months? But you got to live there, right you?

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Speaker 4: Yeah, everybody come to San Francisco. Everybody come to San Francisco.

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Speaker 4: I mean it has gone more virtual now, but everybody

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Speaker 4: goes San Francisco. You have different cohorts. You meet up

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Speaker 4: every week and then they have dinners and stuff. Yeah,

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Speaker 4: you meet other other people are teaching you the game.

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Speaker 4: It's like it's straight. It's like it's a boot camp.

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Speaker 4: It's it's a boot camp for entrepreneur. Same thing that

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Speaker 4: we're talking about job training programs to get a job intech.

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Speaker 4: It's the same thing for entrepreneurs after you've learned the game.

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Speaker 3: Yeah, so very important. If anybody's interested, definitely check it out.

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Speaker 3: So all right, so now you have the money, you

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Speaker 3: pass the you go through ye Combinator, you go to

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Speaker 3: different you learn from different you know, careers. But you

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Speaker 3: still have the five hundred thousand dollars that you saved originally. Right,

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Speaker 3: you didn't blow that money.

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Speaker 4: Didn't blow it, but you definitely had to spend some

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Speaker 4: of it.

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Speaker 3: You spent it before you started the company.

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Speaker 4: I expect it to run the company. It didn't. I

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Speaker 4: didn't blow it at all.

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Speaker 3: So, like, at what point do you actually start the cot.

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Speaker 4: When you're when you're you've already started the company when

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Speaker 4: you apply to I see some people will apply with

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Speaker 4: just an idea. But there's a really good quote that

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Speaker 4: Michael says, it's like you're nothing until you launch. All right,

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Speaker 4: everybody can apply with an idea they launched, even if

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Speaker 4: they don't know to code. There's a lot of amazing

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Speaker 4: no code tools like Bubble, like web Flow. You don't

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Speaker 4: even have to code. You could literally just be like

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Speaker 4: what problem do I want to solve and just make

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Speaker 4: an MVP, which is a minimum viable product and just

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Speaker 4: like try it, and when you're in there, they give

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Speaker 4: you the money to continue running it because what you're

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Speaker 4: doing during those three months is trying to make it

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Speaker 4: grow as fast as possible so you look as best

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Speaker 4: as possible. So when you present on something called demo Day,

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Speaker 4: which is the end of it, you literally have the

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Speaker 4: biggest investors in the world that you're presenting to and

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Speaker 4: billions of dollars change hands.

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Speaker 3: Oh yeah, talk about that because.

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Speaker 5: Before you before you do downwadate it because that's huge.

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Speaker 5: I want to when you were thinking about this, right

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Speaker 5: and the number one question you said was like what

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Speaker 5: problem you're trying to solve? At that point, like what

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Speaker 5: was the problem that you were trying to solve?

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Speaker 4: It was a good question. So we want to really

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Speaker 4: focus on career navigation. So when I saw that my

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Speaker 4: brother was able to get a job making one hundred

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Speaker 4: and fifty thousand and five months without going to college,

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Speaker 4: that's how my co funders did the same thing my

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Speaker 4: sisters started. I was like, what would happen if the

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Speaker 4: world knew that there's these job chain programs that exist

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Speaker 4: that help millions or billions of people gets money, but

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Speaker 4: more importantly, skills that allow them to build solutions to

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Speaker 4: problems for their own family, but eventually start their own

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Speaker 4: companies where they're not dependent on anybody else.

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Speaker 5: Earners, what's going on. If you're a business owner, you

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Speaker 5: don't need us to tell you that running a business

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Speaker 5: is tough, but you might be making it harder on

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Speaker 5: yourself than necessary. Don't let quick books and spreadsheets slow

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Speaker 4: And the biggest reason why I thought that we didn't

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Speaker 4: know about these things is because we've never been exposed

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Speaker 4: to it, which is why media was so important, which

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Speaker 4: is why we started a podcast. And so the first

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Speaker 4: step was like, how do we create the number one

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Speaker 4: destination for career of us on the internet so people

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Speaker 4: are aware of the opportunities that exist. What we realize

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Speaker 4: is that even if you expose people to these career

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Speaker 4: paths like we did on the podcast, some people will

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Speaker 4: take the initiative that are like super driven and have

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Speaker 4: the psychological confidence to do it. But most people need

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Speaker 4: a community of people behind them to help them. And

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Speaker 4: so we wanted to make sure that people have peers, coaches,

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Speaker 4: and mentors to make sure that they don't just start

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Speaker 4: a program, but they finish it and then once they're

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Speaker 4: done with the training. There's a lot of people that

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Speaker 4: are extremely intelligent, have the best degrees in the world,

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Speaker 4: have gone to the best training programs that still struggle

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Speaker 4: in the job search. Why because they don't know how

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Speaker 4: to communicate, They don't know how to tell their story,

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Speaker 4: and so we need to help them with that. So

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Speaker 4: we have this network of companies. We have love of

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Speaker 4: audio rooms in our community to be able to connect

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Speaker 4: people directly to companies. And so the short answer is,

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Speaker 4: were the easiest way to find a job training program

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Speaker 4: online that is now growing to become the world's largest

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Speaker 4: community career transitioners on the internet that will eventually become

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Speaker 4: the world's largest staff in front.

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Speaker 3: So two questions when he said to raise the money,

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Speaker 3: how did you who did you raise the money from it?

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Speaker 3: How did you go about raising the money?

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Speaker 4: Great question? First thing that he said is like, what

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Speaker 4: is the bare minimum amount of money that you need

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Speaker 4: in order to survive?

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Speaker 3: S e.

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Speaker 4: Francisco is one of the most expensive places to live.

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Speaker 4: They had about four of us that will live in

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Speaker 4: in one place. The rent was like seven thousand a month,

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Speaker 4: and we like broke down the math and without paying ourselves,

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Speaker 4: like we're like, we just need one hundred fifty thousand.

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Speaker 4: So so so, so the what we did in order

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Speaker 4: to find who the initial people were going to be,

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Speaker 4: I just leveraged the people that I met through working

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Speaker 4: at companies that I knew that were investors. But I

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Speaker 4: didn't just focus on the traditional angel investors or traditional entrepreneurs.

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Speaker 4: I reached out to people that I know that were

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Speaker 4: accomplished that will cut a check as well. One of

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Speaker 4: the people I met at Atlanta Tech Village was a

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Speaker 4: guy named Paul Judge from Greenwood Yeah, the show, Yeah Judge.

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Speaker 4: Paul Judge cut a check very early. Arlin Hamilton from

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Speaker 4: Backstage cut a check very early. Michael Cybele cut a

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Speaker 4: check very early. And what I was able to do

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Speaker 4: as I was able to be like pretty much within

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Speaker 4: the first few days, say fifty percent of the round

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Speaker 4: is full with people that I already knew, and then

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Speaker 4: I use that and being like, hey, look there's only

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Speaker 4: a week left. Are you in? Right? And I got

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Speaker 4: the rock stars here, I want you? Are you in

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Speaker 4: and out? And that kind of like created this whole

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Speaker 4: fomo type of thing. But a lot of the stuff

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Speaker 4: that I learned through investment banking around putting together a

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Speaker 4: presentation really helped me a lot. If for anybody who's

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Speaker 4: putting together pictures, could I get this question a lot,

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Speaker 4: go to Sequoia Business Plans, check it out and they

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Speaker 4: explain the flow. Sequoia is one of the biggest venture

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Speaker 4: capital firms. For the people that don't know what a

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Speaker 4: venture capital firm is, it's people that give you money

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Speaker 4: to start companies, kind of like Shark Team. So saqoya

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Speaker 4: business plans and then watch this video called Thing Big,

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Speaker 4: Start Small by Jim Getz that really broke down how

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Speaker 4: to tell my vision or our vision for what we

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Speaker 4: want to do.

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Speaker 3: And then okay, that's so yeah, that's actually the scarcity model.

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Speaker 3: And then also using like you have like Paul Judge

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Speaker 3: who's highly respected, so once he gives money, that automatically

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Speaker 3: gives credit ability to it.

438
00:21:00,760 --> 00:21:02,159
Speaker 4: Yeah, so what you do is like once you get

439
00:21:02,160 --> 00:21:03,920
Speaker 4: your first few checks, right, so you always want to

440
00:21:04,680 --> 00:21:06,679
Speaker 4: you want to you want to stack all your meetings

441
00:21:06,800 --> 00:21:09,840
Speaker 4: back to back, right, So I would do like and

442
00:21:09,920 --> 00:21:11,720
Speaker 4: then this is early days. Early day was just like

443
00:21:11,760 --> 00:21:13,600
Speaker 4: five minutes a day. Now since we got Zoom, I'll

444
00:21:13,600 --> 00:21:15,480
Speaker 4: do like ten fifteen meetings in the day. But like,

445
00:21:15,520 --> 00:21:17,080
Speaker 4: you want to do as many meetings back to back

446
00:21:17,119 --> 00:21:19,119
Speaker 4: to back, and then you want to follow up with

447
00:21:19,200 --> 00:21:20,639
Speaker 4: all your material material. You got to be tight. You

448
00:21:20,680 --> 00:21:23,600
Speaker 4: got to have your deck, your data room, your financial

449
00:21:23,640 --> 00:21:25,240
Speaker 4: model is everything like really really clean.

450
00:21:26,320 --> 00:21:26,840
Speaker 3: And then.

451
00:21:28,240 --> 00:21:30,439
Speaker 4: Let's say that somebody cuts a check. You follow up

452
00:21:30,440 --> 00:21:32,080
Speaker 4: with people that may not have responded to you and

453
00:21:32,160 --> 00:21:34,159
Speaker 4: be like, hey, just bumping this up to catch up

454
00:21:34,160 --> 00:21:35,600
Speaker 4: to see what's going on. Why I'll let you know

455
00:21:35,680 --> 00:21:38,359
Speaker 4: this other person's in and it's about to close. So

456
00:21:38,400 --> 00:21:40,199
Speaker 4: you just want to keep keep following up like.

457
00:21:40,240 --> 00:21:42,960
Speaker 3: That and then all right, So the second part of

458
00:21:42,960 --> 00:21:45,000
Speaker 3: the question is can you explain what the is it

459
00:21:45,080 --> 00:21:47,760
Speaker 3: pitch day at waw Demo dad.

460
00:21:48,560 --> 00:21:51,920
Speaker 4: So demo Day? So So, something that I really like

461
00:21:51,960 --> 00:21:55,879
Speaker 4: about what Combinator is that they bet on first time founders. Right,

462
00:21:57,240 --> 00:22:01,680
Speaker 4: A lot of people don't they weren't born with a

463
00:22:01,760 --> 00:22:05,720
Speaker 4: network that well, they're not privileged, right, I didn't have

464
00:22:05,800 --> 00:22:07,760
Speaker 4: this network coming in here. And so what they'll do

465
00:22:07,920 --> 00:22:12,160
Speaker 4: is literally give you credibility so that you can raise money.

466
00:22:12,680 --> 00:22:14,879
Speaker 4: I'm not saying that it's impossible without it, but and

467
00:22:14,960 --> 00:22:17,679
Speaker 4: there's other accelerators like five hundred Startups and tech Stars,

468
00:22:18,200 --> 00:22:21,160
Speaker 4: hy Combinator is the most known for this. But essentially

469
00:22:21,200 --> 00:22:24,640
Speaker 4: they bet on you and what they'll do is they'll

470
00:22:24,760 --> 00:22:28,240
Speaker 4: create hype. So what's interesting about why Combinator is every

471
00:22:28,960 --> 00:22:31,480
Speaker 4: cohort so they do a summer batch, and a winner

472
00:22:31,520 --> 00:22:35,879
Speaker 4: batch has two to three companies that go public. So

473
00:22:36,080 --> 00:22:38,760
Speaker 4: the whole world knows that Y Combinator is so good

474
00:22:38,800 --> 00:22:41,920
Speaker 4: at picking companies and being selective on who applies that

475
00:22:42,080 --> 00:22:45,359
Speaker 4: there will be multiple billion dollar companies and each batch.

476
00:22:45,960 --> 00:22:48,560
Speaker 4: So what they do is they create a huge event

477
00:22:48,800 --> 00:22:53,639
Speaker 4: where all the biggest investors come and essentially create a

478
00:22:53,720 --> 00:22:57,200
Speaker 4: lot of fomo as well. So what a lot of

479
00:22:57,240 --> 00:22:59,040
Speaker 4: investors will try to do will try to get to

480
00:22:59,160 --> 00:23:02,480
Speaker 4: the founders early year before demo day, and we're encouraged

481
00:23:02,520 --> 00:23:05,679
Speaker 4: to like wait until demo days so that you can

482
00:23:05,760 --> 00:23:10,159
Speaker 4: present and then have the highest valuation, which is important

483
00:23:10,400 --> 00:23:13,679
Speaker 4: so you're not diluting yourself which means giving away too

484
00:23:13,760 --> 00:23:14,480
Speaker 4: much ownership.

485
00:23:14,600 --> 00:23:17,040
Speaker 5: Yeah, let's talk about that. So, like obviously the demo day,

486
00:23:17,119 --> 00:23:18,480
Speaker 5: I'm sure it was a nerve recor day, but you

487
00:23:18,560 --> 00:23:19,880
Speaker 5: prepare for the first.

488
00:23:19,680 --> 00:23:22,840
Speaker 4: One, first one person in San Francisco.

489
00:23:23,400 --> 00:23:26,800
Speaker 5: How many people at that moment after with presentation do

490
00:23:26,920 --> 00:23:28,760
Speaker 5: they invest right on the spot? How does that work?

491
00:23:28,800 --> 00:23:32,120
Speaker 5: And when you spoke about evaluation, how is it measured there?

492
00:23:32,320 --> 00:23:34,040
Speaker 5: And if people don't know, can you tell them how

493
00:23:34,160 --> 00:23:36,560
Speaker 5: people or how evaluations actually calculated.

494
00:23:37,240 --> 00:23:41,080
Speaker 4: Some people do invest on the spot, so you know,

495
00:23:41,160 --> 00:23:42,719
Speaker 4: whenever you present a demo day, you're going to get

496
00:23:42,720 --> 00:23:44,720
Speaker 4: a lot of people that are gonna follow up and

497
00:23:44,720 --> 00:23:46,439
Speaker 4: show interest, and then it's on you to follow up

498
00:23:46,480 --> 00:23:50,359
Speaker 4: with all of them forever. You founder. It's different, but

499
00:23:50,600 --> 00:23:53,560
Speaker 4: just some people will do their deal beforehand. It really

500
00:23:53,720 --> 00:23:56,240
Speaker 4: it's up to you. They don't why combinator doesn't tell

501
00:23:56,280 --> 00:23:57,960
Speaker 4: you what you have to do. They just give you

502
00:23:57,960 --> 00:23:59,520
Speaker 4: advice and it's up to you to take that advice

503
00:23:59,640 --> 00:24:06,280
Speaker 4: or not. From evaluation perspective, markets are crazy, like especially

504
00:24:06,400 --> 00:24:09,400
Speaker 4: right now. The market valuation right now is way higher

505
00:24:09,440 --> 00:24:12,080
Speaker 4: than it was when I was going through a combinator.

506
00:24:12,600 --> 00:24:15,399
Speaker 4: But just to understand, like quick and dirty evaluation stuff,

507
00:24:15,880 --> 00:24:20,320
Speaker 4: usually it's a function of ten x of your revenue.

508
00:24:20,560 --> 00:24:22,920
Speaker 4: So like if you're i don't know, making ten million

509
00:24:23,320 --> 00:24:26,000
Speaker 4: a year, ten x is like one hundred million dollars valuation.

510
00:24:28,000 --> 00:24:30,640
Speaker 4: But usually y C companies aren't at that stage. That's

511
00:24:30,640 --> 00:24:33,840
Speaker 4: actually a later stage. Usually a lot of people are

512
00:24:33,960 --> 00:24:37,880
Speaker 4: pre revenue, have some traction, but not a ton of traction.

513
00:24:38,760 --> 00:24:40,600
Speaker 4: I think when we were when we were at in

514
00:24:40,640 --> 00:24:42,800
Speaker 4: White Company. Just so people have perspective, I'll just give

515
00:24:43,040 --> 00:24:45,879
Speaker 4: the number. We're at thirteen thousand a month. Just that

516
00:24:46,040 --> 00:24:50,000
Speaker 4: was a long time ago. And yeah wait wait, way back,

517
00:24:50,119 --> 00:24:54,040
Speaker 4: way back, way back, so long ago. And what's interesting

518
00:24:54,280 --> 00:24:57,600
Speaker 4: is that you know it's not just about your revenue traction,

519
00:24:57,800 --> 00:25:01,480
Speaker 4: so you're usually you want to be why Commeday encourages

520
00:25:01,520 --> 00:25:03,480
Speaker 4: you to make sure you have monthly revenue growth. The

521
00:25:03,520 --> 00:25:06,080
Speaker 4: only difference between startups and like everything else is growth

522
00:25:06,160 --> 00:25:09,119
Speaker 4: and momentum. So you want to be growing ten to

523
00:25:09,280 --> 00:25:13,040
Speaker 4: twenty percent monthly from a revenue perspective. Not everybody is

524
00:25:13,080 --> 00:25:14,560
Speaker 4: doing that, but like you want to just have that

525
00:25:14,760 --> 00:25:17,920
Speaker 4: number in your head because you know compounding is key.

526
00:25:19,200 --> 00:25:21,600
Speaker 4: But you're not just going to be evaluated on revenue.

527
00:25:21,600 --> 00:25:24,600
Speaker 4: You're going to be evaluated on who's your team. Do

528
00:25:24,760 --> 00:25:27,920
Speaker 4: not apply to wh acommindator unless you have somebody that's technical.

529
00:25:28,640 --> 00:25:31,640
Speaker 4: I'm not technical. My co founders are technical. We knew

530
00:25:31,680 --> 00:25:33,719
Speaker 4: that if they decided they weren't going to be technical,

531
00:25:33,800 --> 00:25:35,760
Speaker 4: I had to be technical. And the reason why is

532
00:25:35,800 --> 00:25:38,480
Speaker 4: because you don't want to be outsourcing your culture other people.

533
00:25:38,520 --> 00:25:41,000
Speaker 4: That gets expensive and it's just you don't have control

534
00:25:41,000 --> 00:25:45,199
Speaker 4: about what's going on. So be evaluating your team outside

535
00:25:45,200 --> 00:25:47,800
Speaker 4: of technicals are going to be like, have you experienced

536
00:25:47,800 --> 00:25:50,800
Speaker 4: this problem before? So, like, if you're helping people get

537
00:25:50,840 --> 00:25:53,040
Speaker 4: good credit, like, have you had bad credit before? And

538
00:25:53,119 --> 00:25:55,560
Speaker 4: have you gotten out of it? So are you personally

539
00:25:55,600 --> 00:25:57,560
Speaker 4: invested in this? There's a difference between a job, a career,

540
00:25:57,600 --> 00:25:59,360
Speaker 4: and a calling. This is a calling to me because

541
00:25:59,359 --> 00:26:02,160
Speaker 4: I've been through it before. Right, So have you done

542
00:26:02,200 --> 00:26:06,399
Speaker 4: this before? Who is your investor so far? Right? What

543
00:26:06,560 --> 00:26:09,600
Speaker 4: does your software look like? And many other things. And

544
00:26:09,720 --> 00:26:13,879
Speaker 4: so essentially, when you think about valuation, another way to

545
00:26:13,920 --> 00:26:18,120
Speaker 4: think about it is is there one percent chance likelihood

546
00:26:18,320 --> 00:26:22,240
Speaker 4: of achieving this valuation and all the other factors are like,

547
00:26:23,320 --> 00:26:26,000
Speaker 4: it can increase that percentage chance of reaching the valuation

548
00:26:26,119 --> 00:26:30,840
Speaker 4: makes sense, And so whenever you're raising money from investors,

549
00:26:31,240 --> 00:26:34,320
Speaker 4: they're actually going to be investing to own a piece

550
00:26:34,400 --> 00:26:37,680
Speaker 4: of your company. So the more money that you raise,

551
00:26:37,720 --> 00:26:40,240
Speaker 4: if it's a low valuation, then like you actually like

552
00:26:40,800 --> 00:26:44,159
Speaker 4: lose more of your company. But usually you can think

553
00:26:44,160 --> 00:26:46,040
Speaker 4: about you're probably going to be giving up about twenty

554
00:26:46,080 --> 00:26:47,200
Speaker 4: percent of your company in the beginning.

555
00:26:47,359 --> 00:26:49,760
Speaker 5: Yeah, and that's key because most people like they'll dilute

556
00:26:49,800 --> 00:26:52,320
Speaker 5: the company and give away ownership before they've ever made money.

557
00:26:52,520 --> 00:26:55,400
Speaker 5: By the time they've raised it, they don't have they're

558
00:26:55,440 --> 00:26:56,399
Speaker 5: that majority anymore.

559
00:26:56,680 --> 00:26:59,400
Speaker 4: Some people have no choice because they haven't been executing

560
00:26:59,440 --> 00:27:02,440
Speaker 4: and growing their company. Right, So you also got to

561
00:27:02,480 --> 00:27:06,240
Speaker 4: make sure your company doesn't die, all right. So for

562
00:27:06,320 --> 00:27:08,080
Speaker 4: the people that are looking to raise money, just be

563
00:27:08,160 --> 00:27:10,159
Speaker 4: careful what you wish for. Like if you if you

564
00:27:10,280 --> 00:27:13,160
Speaker 4: decide that you're going to raise money, you're not raising

565
00:27:13,240 --> 00:27:16,080
Speaker 4: money to build one hundred million dollar company like I

566
00:27:16,200 --> 00:27:19,520
Speaker 4: know you guys think in bees. I think in bees too, right,

567
00:27:19,920 --> 00:27:21,760
Speaker 4: you know we tell you we don't. One of my

568
00:27:22,280 --> 00:27:24,879
Speaker 4: mentors said, don't tip billions to out trillions, right to

569
00:27:25,119 --> 00:27:27,800
Speaker 4: create these like ten hundred billion dollar company, I think

570
00:27:27,960 --> 00:27:30,240
Speaker 4: very very big. And if you're not thinking like that,

571
00:27:30,440 --> 00:27:33,560
Speaker 4: don't invest, don't raise money from venture capital. You could

572
00:27:33,640 --> 00:27:35,680
Speaker 4: just start a lifestyle business and you can do friends

573
00:27:35,720 --> 00:27:39,199
Speaker 4: and family stuff. It's not for everybody, so mhm.

574
00:27:39,480 --> 00:27:42,800
Speaker 3: And just to wrap up the white comedy in the conversation,

575
00:27:44,040 --> 00:27:48,240
Speaker 3: so the gentleman that runs it, he's black, right, Michael Seibel?

576
00:27:49,359 --> 00:27:51,080
Speaker 3: And how many people get accepted per year?

577
00:27:52,080 --> 00:27:54,199
Speaker 4: It depends the cohorts are a little bit bigger. Now

578
00:27:54,960 --> 00:27:57,480
Speaker 4: our cohort, I believe had about two hundred companies that

579
00:27:57,560 --> 00:28:01,680
Speaker 4: were in there, but like in the beginning it was

580
00:28:01,720 --> 00:28:04,119
Speaker 4: like ten ten people. But out of the two hundred

581
00:28:04,160 --> 00:28:06,640
Speaker 4: is usually a much smaller percentag So yeah, it's about

582
00:28:06,640 --> 00:28:08,480
Speaker 4: two hundred companies year, So it's a good amount of people.

583
00:28:08,520 --> 00:28:11,320
Speaker 4: And it's not just in the US that you have

584
00:28:11,800 --> 00:28:14,879
Speaker 4: Latin America, you have Africa. We talked about global stuff earlier,

585
00:28:15,000 --> 00:28:17,439
Speaker 4: so it's from everywhere. It doesn't matter where you're located.

586
00:28:17,520 --> 00:28:20,080
Speaker 4: So and there's some people that have applied seven times

587
00:28:20,160 --> 00:28:22,280
Speaker 4: right drop Dropbox is a good example of a company

588
00:28:22,320 --> 00:28:27,320
Speaker 4: that got rejected the first time as well. And there's

589
00:28:27,320 --> 00:28:29,240
Speaker 4: a lot of people that give up if they get rejected,

590
00:28:29,280 --> 00:28:30,800
Speaker 4: which is I think is a very important thing to

591
00:28:30,960 --> 00:28:33,720
Speaker 4: understand even in career navigation as well.

592
00:28:33,840 --> 00:28:40,680
Speaker 3: Dropbox, Airbnb, Stripe Right or dash Roppie Deal like those

593
00:28:40,680 --> 00:28:42,840
Speaker 3: are all people that came from Just look at why

594
00:28:43,840 --> 00:28:46,800
Speaker 3: and you'll see like they got hitters. Yeah, very important

595
00:28:46,800 --> 00:28:48,440
Speaker 3: for people to understand and to know, you know, you

596
00:28:48,480 --> 00:28:49,840
Speaker 3: don't know what you don't know, you don't know what

597
00:28:49,880 --> 00:28:52,760
Speaker 3: you're doing, and you know that's what the whole platform

598
00:28:52,880 --> 00:28:56,480
Speaker 3: is to educate people. So any tech founders that's looking

599
00:28:57,240 --> 00:29:00,840
Speaker 3: for you know, startup help while looking to white. Yes,

600
00:29:01,000 --> 00:29:03,280
Speaker 3: and it's actually being run by a black man.

601
00:29:03,440 --> 00:29:07,680
Speaker 4: So yeah, one more thing before I see you mentioned,

602
00:29:07,800 --> 00:29:10,120
Speaker 4: Like we talked a little bit about the angels. There

603
00:29:10,200 --> 00:29:12,560
Speaker 4: are different types of funds. So in the beginning, you're

604
00:29:12,560 --> 00:29:15,360
Speaker 4: gonna be looking at pre seed funds and seed funds

605
00:29:15,480 --> 00:29:18,360
Speaker 4: that are usually gonna be cutting checks anywhere between, like

606
00:29:19,640 --> 00:29:22,320
Speaker 4: on the lowest end, like I don't know, ten thousand,

607
00:29:23,000 --> 00:29:25,520
Speaker 4: twenty five thousand, up to like maybe half a million

608
00:29:25,640 --> 00:29:28,480
Speaker 4: at most, like a million dollar checks. So you have

609
00:29:28,560 --> 00:29:31,800
Speaker 4: seed funds and pre seed funds, but also take advantage

610
00:29:31,840 --> 00:29:35,160
Speaker 4: of the diversity funds that are out there, take advantage

611
00:29:35,160 --> 00:29:36,720
Speaker 4: of the funds that are focused on women in tech,

612
00:29:37,040 --> 00:29:38,520
Speaker 4: take advantage of the impact funds.

613
00:29:38,560 --> 00:29:39,760
Speaker 3: Can you talk about that a little bit.

614
00:29:40,560 --> 00:29:44,920
Speaker 4: So one of our investors is Emerson Collective, right, So

615
00:29:45,040 --> 00:29:51,320
Speaker 4: that's Loreene Power Jobs. So it's a big fund. Who's it,

616
00:29:51,720 --> 00:29:52,760
Speaker 4: Loreene Power Jobs.

617
00:29:52,920 --> 00:29:55,320
Speaker 3: Steed Jobs is yes, sex wife.

618
00:29:55,200 --> 00:30:00,800
Speaker 4: Yeah, yeah, and so she and she has a multi

619
00:30:00,920 --> 00:30:03,760
Speaker 4: multi billion dollar fund, right and she's impact focused investor.

620
00:30:03,840 --> 00:30:07,160
Speaker 4: So in the beginning, they gave us a six hundred

621
00:30:07,160 --> 00:30:09,720
Speaker 4: thousand dollars check. All right, But we have another fund

622
00:30:10,240 --> 00:30:12,120
Speaker 4: like Imaginable Future.

623
00:30:12,040 --> 00:30:13,720
Speaker 3: It's an impact investor.

624
00:30:13,800 --> 00:30:20,040
Speaker 4: So they're usually family offices, so like Imaginable Futures another investors,

625
00:30:20,120 --> 00:30:24,520
Speaker 4: so they're the eBay founder Piero Medior so multi billiant

626
00:30:24,880 --> 00:30:27,120
Speaker 4: billionaire as well, so he could have checked as well

627
00:30:27,760 --> 00:30:31,640
Speaker 4: into this round. There's the founders of Pailocity, so they're

628
00:30:31,680 --> 00:30:35,360
Speaker 4: usually just wealthy people that want to invest in, people

629
00:30:35,520 --> 00:30:39,800
Speaker 4: that want to do good and what's cool about these days,

630
00:30:39,920 --> 00:30:42,560
Speaker 4: and people that want to start companies At least our generation.

631
00:30:43,520 --> 00:30:45,400
Speaker 4: We don't just want to create something that makes a

632
00:30:45,400 --> 00:30:47,880
Speaker 4: lot of money. We're focused on solving problems that are

633
00:30:47,920 --> 00:30:49,920
Speaker 4: for them. My SoCs hicky of needs. What you all

634
00:30:49,960 --> 00:30:53,280
Speaker 4: are doing with EIL with financial literacy is like one

635
00:30:53,280 --> 00:30:56,200
Speaker 4: of the most important issues out here for our people,

636
00:30:56,720 --> 00:30:58,960
Speaker 4: and people will fund that type of stuff all day long.

637
00:31:00,040 --> 00:31:02,720
Speaker 4: And the same thing with us, like career navigation, career development,

638
00:31:02,800 --> 00:31:05,440
Speaker 4: like if if we don't help our people get tech skills,

639
00:31:05,800 --> 00:31:09,000
Speaker 4: like we're gonna continue to be digital cout pickers forever

640
00:31:09,200 --> 00:31:11,960
Speaker 4: because we're driving all this value for everybody else's platforms

641
00:31:12,080 --> 00:31:15,160
Speaker 4: that we're not creating our own. And the jobs that

642
00:31:15,240 --> 00:31:17,600
Speaker 4: we have like at warehouses or in retail companies, they're

643
00:31:17,640 --> 00:31:20,440
Speaker 4: going to be taken over by robots and what are

644
00:31:20,480 --> 00:31:21,280
Speaker 4: you going to do after that?

645
00:31:21,480 --> 00:31:24,520
Speaker 5: So earners listen up. There's a new site that's building

646
00:31:24,600 --> 00:31:27,560
Speaker 5: the best real estate and investing experience ever. It's called

647
00:31:27,640 --> 00:31:31,040
Speaker 5: fund Rise. It's the first online investment platform designed to

648
00:31:31,080 --> 00:31:34,520
Speaker 5: give every person the opportunity to own a portfolio of

649
00:31:34,680 --> 00:31:37,920
Speaker 5: high quality real estate affordably thanks to their cutting edge,

650
00:31:38,000 --> 00:31:41,680
Speaker 5: low cost model. That's right, Fundriise is revolutionizing the investment

651
00:31:41,760 --> 00:31:45,520
Speaker 5: world by delivering unparallel transparency and real time reporting that

652
00:31:45,640 --> 00:31:48,640
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653
00:31:48,680 --> 00:31:52,880
Speaker 5: your overall portfolio. The platforms innovations, power and investor first

654
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655
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656
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657
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658
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659
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660
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661
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664
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666
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667
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669
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673
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674
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678
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679
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Speaker 4: To figure it out.

680
00:33:10,040 --> 00:33:12,600
Speaker 5: Yeah, you spoke about something that I'm sure people if

681
00:33:12,640 --> 00:33:14,760
Speaker 5: they read and they hear us talk a lot, they

682
00:33:14,760 --> 00:33:17,840
Speaker 5: hear seed round seed round. Can you explain what the

683
00:33:17,880 --> 00:33:20,520
Speaker 5: actual seed round is and how many seed rounds are

684
00:33:20,600 --> 00:33:23,480
Speaker 5: needed or if they are needed to raise a certain

685
00:33:23,480 --> 00:33:24,480
Speaker 5: amount of capital.

686
00:33:25,840 --> 00:33:28,080
Speaker 4: Running the companies like running a child, right, So as

687
00:33:28,400 --> 00:33:32,040
Speaker 4: a raising a child, it's not like there's a a

688
00:33:32,480 --> 00:33:34,880
Speaker 4: book to raise kids, even though there are books to

689
00:33:35,000 --> 00:33:40,760
Speaker 4: raise kids that give you guys, right, And so think

690
00:33:40,800 --> 00:33:44,920
Speaker 4: about the the rounds kind of like in the beginning,

691
00:33:44,960 --> 00:33:47,360
Speaker 4: like a friends or family round, right, So you're gonna

692
00:33:47,440 --> 00:33:49,800
Speaker 4: hit these days where we can't take advantage of really

693
00:33:49,840 --> 00:33:52,800
Speaker 4: cool things on the internet, where let's pretend that you know,

694
00:33:53,040 --> 00:33:54,920
Speaker 4: you might hit up everybody in the neighborhood over here

695
00:33:55,240 --> 00:33:58,200
Speaker 4: to give money. But then like you ran out of

696
00:33:58,240 --> 00:34:00,760
Speaker 4: people that you know, you can leverage crowd funding things

697
00:34:00,880 --> 00:34:03,920
Speaker 4: like angelist and refunder and stuff like that, so that

698
00:34:04,040 --> 00:34:07,000
Speaker 4: you can raise money from doctors and lawyers that want

699
00:34:07,040 --> 00:34:10,160
Speaker 4: to invest into attack companies. That's usually going to be

700
00:34:10,480 --> 00:34:15,440
Speaker 4: what you call a friends and family around, maybe music executives,

701
00:34:15,480 --> 00:34:18,600
Speaker 4: athletes or stuff like that. Then you have your pre

702
00:34:18,680 --> 00:34:22,439
Speaker 4: seed round that you might have an institutional investor, which

703
00:34:22,480 --> 00:34:25,279
Speaker 4: will include somebody's like funds that I was telling you

704
00:34:25,360 --> 00:34:28,080
Speaker 4: about before, Like one of ours is like unshackled A ventures.

705
00:34:28,480 --> 00:34:32,200
Speaker 4: They they invest in immigrants, so that's like a really

706
00:34:32,239 --> 00:34:35,920
Speaker 4: good one. Then you're in cap or Capital kp or

707
00:34:36,000 --> 00:34:39,320
Speaker 4: Capital is like an impact investor. But they also invested

708
00:34:39,760 --> 00:34:43,080
Speaker 4: in like uh Twiliyo for example, and Uber and many

709
00:34:43,120 --> 00:34:44,640
Speaker 4: other things like that, so that they have big hits

710
00:34:44,680 --> 00:34:48,680
Speaker 4: that they've that they've done very well. And then after

711
00:34:48,719 --> 00:34:50,960
Speaker 4: that you'll do like your seed round, then Series A,

712
00:34:51,200 --> 00:34:54,120
Speaker 4: Series B, all the way till you go public. Going

713
00:34:54,160 --> 00:34:58,480
Speaker 4: back to what you said about evaluation, if you want

714
00:34:58,480 --> 00:35:01,000
Speaker 4: to build a billion dollar company, usually when you're raising

715
00:35:01,040 --> 00:35:02,560
Speaker 4: your Series A, you're going to be in the two

716
00:35:02,719 --> 00:35:04,200
Speaker 4: million dollars a year range.

717
00:35:04,520 --> 00:35:07,520
Speaker 3: For the Series A making two million, making two million.

718
00:35:07,600 --> 00:35:11,160
Speaker 4: Yeah, there's a difference between raising money and making money.

719
00:35:11,360 --> 00:35:14,360
Speaker 4: I'm glad that you called that out because too many

720
00:35:14,600 --> 00:35:18,319
Speaker 4: times people are celebrating raising money, and I think it's

721
00:35:18,440 --> 00:35:21,120
Speaker 4: very important for us to not highlight just that, which

722
00:35:21,160 --> 00:35:22,839
Speaker 4: I love that you guys did with your intro, where

723
00:35:23,120 --> 00:35:26,440
Speaker 4: we're focused on solving the problem whatever, make sure that

724
00:35:26,520 --> 00:35:31,200
Speaker 4: you're actually making money as well. And two million a

725
00:35:31,320 --> 00:35:34,440
Speaker 4: year is like the baseline for the A. Then you

726
00:35:34,480 --> 00:35:38,480
Speaker 4: want to remember these these five numbers, triple triple double

727
00:35:38,520 --> 00:35:42,239
Speaker 4: double double. Right, So so if you go your next year,

728
00:35:42,280 --> 00:35:44,880
Speaker 4: you want to be shooting for six million, the year

729
00:35:44,880 --> 00:35:49,920
Speaker 4: after that, eighteen million, the after that, thirty six seventy two,

730
00:35:50,480 --> 00:35:54,160
Speaker 4: and then this one has some flexibility because then it's

731
00:35:54,160 --> 00:35:56,520
Speaker 4: one hundred and forty four. But like at one hundred

732
00:35:56,560 --> 00:35:58,279
Speaker 4: million a year, then you're a billion dollar company. That's

733
00:35:58,280 --> 00:35:59,440
Speaker 4: probably when you're going to go public.

734
00:36:00,000 --> 00:36:02,040
Speaker 5: Once you get one hundred ten exit you that's to

735
00:36:02,040 --> 00:36:02,880
Speaker 5: a billion, that's right.

736
00:36:03,280 --> 00:36:08,040
Speaker 4: And you know these days you're seeing twenty thirty fifty

737
00:36:08,120 --> 00:36:12,080
Speaker 4: one hundred x revenue multiples. That was like the end

738
00:36:12,160 --> 00:36:14,279
Speaker 4: of twenty twenty one, not twenty twenty two. You see

739
00:36:14,280 --> 00:36:18,000
Speaker 4: what's going on the public markets. You know, so'st it's

740
00:36:18,000 --> 00:36:21,279
Speaker 4: a little cool, cool cooler, but it'll come back.

741
00:36:21,440 --> 00:36:23,120
Speaker 3: But like so when we spoke to John Henry, he

742
00:36:23,239 --> 00:36:26,560
Speaker 3: was saying that, you know, depending on what kind of

743
00:36:26,600 --> 00:36:28,399
Speaker 3: company you can have, they could even have much higher.

744
00:36:28,719 --> 00:36:32,360
Speaker 3: Oh yeah, so like any AI is like twenty percent

745
00:36:32,640 --> 00:36:35,280
Speaker 3: twenty five percent, I mean twenty five times.

746
00:36:35,719 --> 00:36:39,239
Speaker 4: It depends, yeah, evaluation, It really depends. Like you have

747
00:36:39,360 --> 00:36:42,880
Speaker 4: to like look at, okay, what are the public company comparables?

748
00:36:42,920 --> 00:36:44,920
Speaker 4: This is where like the investment making Dodge comes in Like,

749
00:36:45,280 --> 00:36:49,560
Speaker 4: so you know, investors are like pattern matches, so like

750
00:36:49,840 --> 00:36:52,880
Speaker 4: what could this company be, right, what's the future of it?

751
00:36:53,000 --> 00:36:54,719
Speaker 4: So like something that we would say all the time

752
00:36:54,800 --> 00:36:56,600
Speaker 4: is like we're like booking dot Com for your career

753
00:36:57,160 --> 00:37:00,839
Speaker 4: because you're comparable. That's my comparable. That's a very big one, right.

754
00:37:02,360 --> 00:37:04,399
Speaker 4: But there's others like if I have the community side

755
00:37:04,440 --> 00:37:07,960
Speaker 4: of things, there's like dual Lingo, which is public, right,

756
00:37:08,320 --> 00:37:10,000
Speaker 4: and they have a big community piece where there's like

757
00:37:10,480 --> 00:37:12,759
Speaker 4: over five hundred million monthly at the viewsers, but the

758
00:37:12,880 --> 00:37:16,800
Speaker 4: very small percentage of them that they monetize. Right. You

759
00:37:16,880 --> 00:37:21,000
Speaker 4: have Zilo as well, which is a marketplace, and many

760
00:37:21,080 --> 00:37:23,360
Speaker 4: other things like that. And so to your point, you know,

761
00:37:23,480 --> 00:37:26,400
Speaker 4: depending on which company that you're trying to evaluate compare

762
00:37:26,440 --> 00:37:28,920
Speaker 4: yourself against, you want to be have an understanding if

763
00:37:29,000 --> 00:37:31,359
Speaker 4: not just public companies, but also private companies as well.

764
00:37:31,640 --> 00:37:32,200
Speaker 4: Oh gotcha.

765
00:37:32,320 --> 00:37:33,880
Speaker 5: Yeah, so I'm thinking like now, if they're looking at

766
00:37:34,040 --> 00:37:37,000
Speaker 5: like at Uyol University, they might say like they could

767
00:37:37,040 --> 00:37:38,560
Speaker 5: be the next check or something like that.

768
00:37:39,080 --> 00:37:42,920
Speaker 4: Yeah chack, yes, good one check Courserra you to me

769
00:37:43,000 --> 00:37:45,560
Speaker 4: that just went public exactly because gotcha?

770
00:37:46,840 --> 00:37:51,640
Speaker 3: Okay, So all right, So now going back to career karma,

771
00:37:52,200 --> 00:37:56,879
Speaker 3: so you you go through all of that, Now, what's

772
00:37:56,960 --> 00:38:00,840
Speaker 3: the beginning stages of actually getting career karma up running

773
00:38:00,840 --> 00:38:01,520
Speaker 3: to where it is? Now?

774
00:38:01,760 --> 00:38:05,239
Speaker 4: Such a good question. One of the first one of

775
00:38:05,280 --> 00:38:07,480
Speaker 4: the first things that they teach you that I see

776
00:38:07,640 --> 00:38:11,040
Speaker 4: is doing things that don't scale all right. So a

777
00:38:11,080 --> 00:38:13,880
Speaker 4: lot of people, even though they encourage you to like

778
00:38:14,120 --> 00:38:17,120
Speaker 4: have a technical co founder, they go straight into coding

779
00:38:17,200 --> 00:38:20,160
Speaker 4: a solution for the problem in the beginning. You want

780
00:38:20,200 --> 00:38:23,320
Speaker 4: to do things that are manual, right, So what's the

781
00:38:23,400 --> 00:38:25,920
Speaker 4: first thing that we did. We started inviting people to

782
00:38:26,040 --> 00:38:30,080
Speaker 4: our house. Andy'd be like, Yo, pull up, what's going on?

783
00:38:30,880 --> 00:38:34,160
Speaker 4: What what what's your career goal? What's your number one problem?

784
00:38:34,480 --> 00:38:35,400
Speaker 4: And what's your timeline?

785
00:38:35,440 --> 00:38:35,560
Speaker 5: Oh?

786
00:38:35,680 --> 00:38:37,320
Speaker 3: Talk about So you said that they teach you to

787
00:38:37,440 --> 00:38:39,800
Speaker 3: do things that aren't scalable.

788
00:38:39,440 --> 00:38:42,120
Speaker 4: In the beginning. Why is that so that you could

789
00:38:42,239 --> 00:38:44,399
Speaker 4: really understand the pain points all the way?

790
00:38:45,920 --> 00:38:46,040
Speaker 3: Right?

791
00:38:46,080 --> 00:38:48,720
Speaker 4: This is a very important So Paul Graham and Jessica

792
00:38:48,760 --> 00:38:51,600
Speaker 4: Livingston started by a combinator for if you want to

793
00:38:51,680 --> 00:38:55,480
Speaker 4: really learn the game, read us all free, essays Paul

794
00:38:55,560 --> 00:38:58,840
Speaker 4: Graham's essays, It's literally like the Startup Bible like read that.

795
00:38:59,440 --> 00:39:01,880
Speaker 4: There's also how to Start a Startup by Sam Autman.

796
00:39:02,239 --> 00:39:05,360
Speaker 4: Read that Read zero to One by Peter Till I

797
00:39:05,440 --> 00:39:08,480
Speaker 4: got that on my booklet fire Like that all teaches

798
00:39:08,480 --> 00:39:10,080
Speaker 4: you the game on how to think about this stuff.

799
00:39:10,600 --> 00:39:12,960
Speaker 4: That's all the stuff that starts studying but doing things

800
00:39:13,000 --> 00:39:14,319
Speaker 4: that don't scale. It is like one of the most

801
00:39:14,360 --> 00:39:17,360
Speaker 4: important concepts to understand because it gets you in the

802
00:39:17,440 --> 00:39:18,880
Speaker 4: trench just to know what's going on. It's like what

803
00:39:18,960 --> 00:39:22,200
Speaker 4: you guys are doing now through doing all these interviews

804
00:39:22,200 --> 00:39:24,200
Speaker 4: and talking to people. It's like when we started the podcast,

805
00:39:24,520 --> 00:39:28,719
Speaker 4: I knew the pain points that people felt consistently in

806
00:39:28,800 --> 00:39:31,040
Speaker 4: addition to my own personal pain points going through it,

807
00:39:31,239 --> 00:39:34,880
Speaker 4: So then I knew what the MVP was supposed to

808
00:39:34,960 --> 00:39:37,920
Speaker 4: look like. Right, And what you do is, let's say

809
00:39:37,960 --> 00:39:41,480
Speaker 4: that I don't want to coach something and I want

810
00:39:41,520 --> 00:39:44,560
Speaker 4: to do a paper wireframe. I could literally draw up

811
00:39:44,640 --> 00:39:46,399
Speaker 4: mockups of what it would look like in an app

812
00:39:46,440 --> 00:39:48,719
Speaker 4: and be like, hey, would you use this and try it?

813
00:39:49,160 --> 00:39:51,360
Speaker 4: And then you will be watching him to see how

814
00:39:51,400 --> 00:39:53,320
Speaker 4: he's using it, where he gets stuck, where he's confused,

815
00:39:53,680 --> 00:39:55,879
Speaker 4: and then you can like iterate on it. And then

816
00:39:56,000 --> 00:39:58,319
Speaker 4: once you have an understanding of like how it works,

817
00:39:58,560 --> 00:39:59,960
Speaker 4: then you start coding stuff up.

818
00:40:00,560 --> 00:40:02,360
Speaker 5: So if you scale too fast, you might miss some

819
00:40:02,440 --> 00:40:05,440
Speaker 5: of those pain points. You miss some of those points detrimental.

820
00:40:05,640 --> 00:40:08,759
Speaker 4: The ability to talk to your users is one of

821
00:40:08,800 --> 00:40:11,000
Speaker 4: the most magical things. You always want to be writing

822
00:40:11,080 --> 00:40:13,080
Speaker 4: code and you always want to be talking to users.

823
00:40:13,239 --> 00:40:15,440
Speaker 4: And a lot of people after they raise money, they

824
00:40:15,560 --> 00:40:18,719
Speaker 4: stopped talking to people, They stopped talking to their using

825
00:40:18,760 --> 00:40:20,680
Speaker 4: They just get caught up and running the business, which

826
00:40:20,960 --> 00:40:23,560
Speaker 4: is challenging whenever you're at this scale, right with millions

827
00:40:23,600 --> 00:40:25,160
Speaker 4: of people coming to you and all these things. But

828
00:40:25,600 --> 00:40:27,520
Speaker 4: you know what's cool about having audio rooms is like,

829
00:40:27,920 --> 00:40:29,719
Speaker 4: I'm going to be on an audio room today with

830
00:40:29,920 --> 00:40:33,000
Speaker 4: Arlen Hamilton talking to over a thousand people in our room,

831
00:40:33,400 --> 00:40:35,360
Speaker 4: and they can always feel like they can talk to me.

832
00:40:36,000 --> 00:40:36,200
Speaker 5: See.

833
00:40:36,440 --> 00:40:37,960
Speaker 3: So, what are some things that's not scaling?

834
00:40:38,000 --> 00:40:42,000
Speaker 4: So you said events, Events is a good example, signing

835
00:40:42,040 --> 00:40:45,360
Speaker 4: them up to spreadsheets, putting them in we had, we

836
00:40:45,440 --> 00:40:48,000
Speaker 4: had telegra. So I'll tell you this is how it happened.

837
00:40:48,000 --> 00:40:51,279
Speaker 4: In the beginning. People come to our office, they'll share

838
00:40:51,320 --> 00:40:53,400
Speaker 4: what their goals were, what their pain points were, tell

839
00:40:53,480 --> 00:40:55,800
Speaker 4: us the career that they wanted and what time on

840
00:40:55,960 --> 00:40:58,320
Speaker 4: that they did. We'll sign them up on a spreadsheet.

841
00:40:58,480 --> 00:41:01,080
Speaker 4: We'll put them in a telego group, which is kind

842
00:41:01,080 --> 00:41:03,800
Speaker 4: of like signal. Put them in a telegram group, and

843
00:41:03,880 --> 00:41:06,479
Speaker 4: then we would help them, would monitor them, were like, okay,

844
00:41:06,640 --> 00:41:08,719
Speaker 4: apply to this school, apply to that school, get in

845
00:41:08,800 --> 00:41:11,239
Speaker 4: and out. And then once we understood what the motion was,

846
00:41:11,320 --> 00:41:15,080
Speaker 4: we actually cloned telegram and then we put profiles on

847
00:41:15,160 --> 00:41:17,719
Speaker 4: top of it, and then we eventually like turned it

848
00:41:17,840 --> 00:41:20,920
Speaker 4: into the basics of what we had in the beginning

849
00:41:21,200 --> 00:41:23,279
Speaker 4: before it became a marketplace in all each other stuff.

850
00:41:23,520 --> 00:41:24,239
Speaker 3: So you got all that.

851
00:41:24,560 --> 00:41:27,239
Speaker 5: So at this point, like you said, most people don't

852
00:41:27,360 --> 00:41:30,080
Speaker 5: they raise money, but they forget that they have to

853
00:41:30,120 --> 00:41:32,400
Speaker 5: make money. So how if you guys making money in

854
00:41:32,440 --> 00:41:33,480
Speaker 5: the early stages.

855
00:41:33,880 --> 00:41:36,919
Speaker 4: Yeah, So we've always we always wanted to think about

856
00:41:37,120 --> 00:41:38,880
Speaker 4: when you're building a marketplace, which is a type of

857
00:41:38,920 --> 00:41:41,520
Speaker 4: business that we're running. It's not an air business. Were

858
00:41:41,520 --> 00:41:44,319
Speaker 4: thinking about a marketplace, you have to pick a side,

859
00:41:44,760 --> 00:41:48,120
Speaker 4: like who are you going to serve? Right, Ernest?

860
00:41:48,160 --> 00:41:48,480
Speaker 3: What's up?

861
00:41:48,600 --> 00:41:51,560
Speaker 5: You ever walk into a small business and everything just works,

862
00:41:52,000 --> 00:41:54,360
Speaker 5: like the checkout is fast, the re seats are digital

863
00:41:54,960 --> 00:41:57,879
Speaker 5: tipping is a breeze and you're out the door before

864
00:41:57,920 --> 00:42:02,040
Speaker 5: the line even builds. Odds are they're using Square. We

865
00:42:02,239 --> 00:42:04,719
Speaker 5: love supporting businesses that run on Square because it just

866
00:42:04,800 --> 00:42:08,040
Speaker 5: feels seamless. Whether it's a local coffee shop, a vendor

867
00:42:08,080 --> 00:42:10,319
Speaker 5: at a pop up market, or even one of our

868
00:42:10,440 --> 00:42:14,040
Speaker 5: merch partners, Square makes it easy for them to take payments,

869
00:42:14,280 --> 00:42:18,000
Speaker 5: manage inventory, and run their business with confidence, all from

870
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Speaker 4: So we have workers on one side, we have schools

909
00:44:41,560 --> 00:44:44,880
Speaker 4: on another side. Both of them have some money. Right

910
00:44:45,080 --> 00:44:46,759
Speaker 4: who you're going to charge? You can charge one or

911
00:44:46,760 --> 00:44:49,319
Speaker 4: the other, charge both. So we're like, we actually don't

912
00:44:49,320 --> 00:44:52,480
Speaker 4: want to charge workers nothing because they've already got one

913
00:44:52,480 --> 00:44:55,120
Speaker 4: point eight trillion the student loans. You know, a lot

914
00:44:55,160 --> 00:44:56,640
Speaker 4: of them are already in debt. They've been played by

915
00:44:56,719 --> 00:44:58,440
Speaker 4: so many people. We want to make sure that we

916
00:44:58,480 --> 00:45:02,279
Speaker 4: build trust because like that's way more valuable their money. Okay,

917
00:45:02,520 --> 00:45:05,920
Speaker 4: so how you're going to make money though? Right? So

918
00:45:06,440 --> 00:45:11,000
Speaker 4: what we learn is that there's thousands of schools, not

919
00:45:11,160 --> 00:45:14,120
Speaker 4: just in the US but globally, and they spend billions

920
00:45:14,160 --> 00:45:18,319
Speaker 4: of dollars a year to get enrollments. Look at where

921
00:45:18,320 --> 00:45:20,600
Speaker 4: we are right now. You probably heard about the Great resignation.

922
00:45:21,800 --> 00:45:25,760
Speaker 4: Have over ten million open jobs, four million people quitting jobs.

923
00:45:26,320 --> 00:45:29,000
Speaker 4: And why are they quitting their jobs? Because they don't

924
00:45:29,000 --> 00:45:30,960
Speaker 4: want to go back to the jobs that are in

925
00:45:31,040 --> 00:45:33,319
Speaker 4: the factories that don't allow them to work from home

926
00:45:33,400 --> 00:45:36,080
Speaker 4: and take advantage of remote work and be with their kids. Right.

927
00:45:36,800 --> 00:45:40,240
Speaker 4: They want to get these type jobs. And what's happening

928
00:45:40,560 --> 00:45:46,239
Speaker 4: is the colleges. Historically, when you have recessionary behavior, which

929
00:45:46,280 --> 00:45:50,960
Speaker 4: we had we're entering into year three of COVID, you

930
00:45:50,960 --> 00:45:53,600
Speaker 4: would see actually college enrollment going up because people want

931
00:45:53,640 --> 00:45:56,440
Speaker 4: to go back to school in order to get a

932
00:45:56,600 --> 00:45:59,399
Speaker 4: job that pays well. The problem is, just like people

933
00:45:59,440 --> 00:46:01,960
Speaker 4: don't trust higher education no more. They don't want to

934
00:46:02,000 --> 00:46:05,440
Speaker 4: pay fifty thousand a year to go to college if

935
00:46:05,480 --> 00:46:08,640
Speaker 4: there's no guarantee of a job anywhere. To be very clear,

936
00:46:08,760 --> 00:46:12,160
Speaker 4: I'm not saying I'm anti college, but college is starting

937
00:46:12,160 --> 00:46:14,319
Speaker 4: to recognize that they need to innovate because they don't

938
00:46:14,320 --> 00:46:17,600
Speaker 4: want their enrollments to stop keep dropping. So what they're

939
00:46:17,640 --> 00:46:20,680
Speaker 4: doing is not just launching shorter, faster and cheaper models

940
00:46:20,800 --> 00:46:22,320
Speaker 4: that train you to get a job in three to

941
00:46:22,400 --> 00:46:25,120
Speaker 4: twelve months like Trilogy and things like that and My

942
00:46:25,200 --> 00:46:28,759
Speaker 4: Homies at to You and My Homies at Chair. They're

943
00:46:28,800 --> 00:46:33,160
Speaker 4: spending a lot of money to attract students not just

944
00:46:33,280 --> 00:46:38,040
Speaker 4: on Google and Facebook, but also through virtual events and

945
00:46:38,120 --> 00:46:42,520
Speaker 4: stuff like that. This is an interesting stat that Shama says.

946
00:46:43,040 --> 00:46:44,959
Speaker 4: I don't know if it's still the same, but he says,

947
00:46:45,000 --> 00:46:48,040
Speaker 4: like forty cents of every VC dollar raised goes to

948
00:46:48,120 --> 00:46:53,040
Speaker 4: Google and Facebook, and that's paid advertising to attract users.

949
00:46:53,560 --> 00:46:55,279
Speaker 4: And similar to and the reason why people do this

950
00:46:55,360 --> 00:46:58,600
Speaker 4: because there's so many apps that are out there in

951
00:46:58,760 --> 00:47:02,600
Speaker 4: order to get users get seen. You know, zero to

952
00:47:02,680 --> 00:47:08,920
Speaker 4: one says just you know, it says essentially like when

953
00:47:08,920 --> 00:47:12,120
Speaker 4: you build a product. I'm messing up the quote, but

954
00:47:12,160 --> 00:47:15,000
Speaker 4: essentially like building the product is not enough. You have

955
00:47:15,040 --> 00:47:16,600
Speaker 4: to actually get it out to people. And a lot

956
00:47:16,600 --> 00:47:18,600
Speaker 4: of people think building a good product loaners will gets

957
00:47:18,640 --> 00:47:20,719
Speaker 4: you where you want to go. And the last thing

958
00:47:20,760 --> 00:47:23,759
Speaker 4: that I'm going to say here is just that colleges

959
00:47:24,360 --> 00:47:26,600
Speaker 4: and boot camps started spending a lot of money in

960
00:47:26,719 --> 00:47:29,000
Speaker 4: order to attract users, and so we decided, in order

961
00:47:29,000 --> 00:47:32,239
Speaker 4: to make money, we would charge for every enrollment in

962
00:47:32,280 --> 00:47:34,600
Speaker 4: the beginning to prove that it worked. So we charged

963
00:47:34,600 --> 00:47:36,200
Speaker 4: about ten percent of the tuition.

964
00:47:36,239 --> 00:47:37,200
Speaker 5: So you're charging the schools.

965
00:47:37,320 --> 00:47:39,640
Speaker 4: We charged the schools teen percent for every enrollment of

966
00:47:39,719 --> 00:47:42,360
Speaker 4: their tuition, and the tuition would range between ten to

967
00:47:42,400 --> 00:47:45,120
Speaker 4: fifty thousand a year. So who's the first school that

968
00:47:45,200 --> 00:47:48,759
Speaker 4: you went after it was interesting. So before I see

969
00:47:48,840 --> 00:47:52,280
Speaker 4: we started a podcast. The first school was actually hack Reactor.

970
00:47:52,640 --> 00:47:55,960
Speaker 4: So hack Reactor was a school that my my co

971
00:47:56,120 --> 00:48:01,000
Speaker 4: founder Archer went to and they were five thousand months,

972
00:48:01,000 --> 00:48:02,680
Speaker 4: so it's about sixty thousand a year. We're like, wow,

973
00:48:02,719 --> 00:48:05,120
Speaker 4: sixty thousand a year from one school, Like how much

974
00:48:05,120 --> 00:48:07,480
Speaker 4: do other schools pay? And like some schools pay hundreds

975
00:48:07,480 --> 00:48:09,800
Speaker 4: of millions of dollars a year. That's how we discovered

976
00:48:09,840 --> 00:48:13,280
Speaker 4: this market. And now that we're going to high education,

977
00:48:13,400 --> 00:48:16,799
Speaker 4: we're realizing that it's not just par enrollment. You want

978
00:48:16,840 --> 00:48:18,520
Speaker 4: to do a per introduction. So now we've moved to

979
00:48:18,560 --> 00:48:20,719
Speaker 4: a per introduction model, so we can do like really

980
00:48:20,760 --> 00:48:24,840
Speaker 4: interesting things like dynamic pricing. So if you're interested in

981
00:48:26,360 --> 00:48:30,080
Speaker 4: a data science program, you might be interested in an

982
00:48:30,360 --> 00:48:34,000
Speaker 4: economics degree or a math degreer statistics degree, So we

983
00:48:34,120 --> 00:48:37,480
Speaker 4: can charge different schools different prices based off of what

984
00:48:37,719 --> 00:48:39,240
Speaker 4: the individuals can study.

985
00:48:39,920 --> 00:48:41,920
Speaker 5: Like that all right, So like if I'm going to NYU,

986
00:48:42,120 --> 00:48:45,719
Speaker 5: the tuition is sixty thousand, ten percent of that is

987
00:48:45,760 --> 00:48:47,640
Speaker 5: going to if I enrolled, but I could be more

988
00:48:47,680 --> 00:48:51,160
Speaker 5: if I decide to study, like get my doctorate in

989
00:48:51,320 --> 00:48:52,240
Speaker 5: something gotcha?

990
00:48:52,680 --> 00:48:54,440
Speaker 3: So how do you put together your curriculum and what

991
00:48:54,760 --> 00:48:58,000
Speaker 3: is your curriculum to actually get them trained?

992
00:48:58,600 --> 00:49:01,440
Speaker 4: So we actually are in the school. We are the

993
00:49:01,480 --> 00:49:03,640
Speaker 4: platform that matches people to the curriculums.

994
00:49:04,680 --> 00:49:06,040
Speaker 3: So where's the curriculums coming from?

995
00:49:06,920 --> 00:49:09,200
Speaker 4: So we actually built the directory of four hundred for

996
00:49:09,239 --> 00:49:12,280
Speaker 4: the boot camps, seven thousand trade schools, colleges and universities,

997
00:49:12,560 --> 00:49:15,440
Speaker 4: so kind of like glass Door. What we've done is

998
00:49:15,520 --> 00:49:19,080
Speaker 4: we've organized directory of different schools and we have reviews

999
00:49:19,800 --> 00:49:22,440
Speaker 4: from other students that kind of like the Better Business

1000
00:49:22,480 --> 00:49:25,600
Speaker 4: Bureau to show that they're credible. Every student puts pros

1001
00:49:25,640 --> 00:49:29,080
Speaker 4: and cons about what's going on. They upload projects, and

1002
00:49:29,200 --> 00:49:33,920
Speaker 4: they show ultimately where people are getting jobs by school.

1003
00:49:34,400 --> 00:49:35,920
Speaker 4: So when people come to career come or if you

1004
00:49:35,960 --> 00:49:40,120
Speaker 4: go to career combat Complash apply, you'll say what career

1005
00:49:40,200 --> 00:49:42,759
Speaker 4: path you're interested in, or if you don't know, and

1006
00:49:43,040 --> 00:49:44,960
Speaker 4: let's say that you do say that what you're interested in.

1007
00:49:45,360 --> 00:49:48,960
Speaker 4: Will recommend about three to five schools to you that

1008
00:49:49,080 --> 00:49:52,319
Speaker 4: are best for your desired timeline, and then you'll start

1009
00:49:52,400 --> 00:49:55,400
Speaker 4: talking to them. To those schools, you're usually not going

1010
00:49:55,480 --> 00:49:57,160
Speaker 4: to make a decision about what school you want to

1011
00:49:57,200 --> 00:49:59,400
Speaker 4: go to in the beginning, because you're not going to

1012
00:49:59,400 --> 00:50:02,120
Speaker 4: make a left tain decision that fast. Then you're going

1013
00:50:02,200 --> 00:50:04,000
Speaker 4: to start talking to people in our community that actually

1014
00:50:04,000 --> 00:50:06,919
Speaker 4: attended the schools, so that you're not just hearing people

1015
00:50:07,040 --> 00:50:09,120
Speaker 4: just I mean, if I want to go to Rashade's

1016
00:50:09,120 --> 00:50:10,719
Speaker 4: Cold School, of course you're going to say you're the best,

1017
00:50:10,880 --> 00:50:12,400
Speaker 4: but you want to talk to people that actually went

1018
00:50:12,480 --> 00:50:15,600
Speaker 4: through it. And so usually it takes people about a

1019
00:50:15,719 --> 00:50:17,560
Speaker 4: month in order to make a decision about where they

1020
00:50:17,600 --> 00:50:20,239
Speaker 4: want to go. And then if you're doing something full time,

1021
00:50:20,320 --> 00:50:24,799
Speaker 4: it'll take you three to six months to get a job.

1022
00:50:25,760 --> 00:50:27,799
Speaker 4: If you're doing something part time in six to twelve months,

1023
00:50:28,000 --> 00:50:30,120
Speaker 4: and if you do something self paces twelve to twenty

1024
00:50:30,160 --> 00:50:33,640
Speaker 4: four months. So but to your point, in our platform,

1025
00:50:33,719 --> 00:50:37,200
Speaker 4: we do have some like quizzes to like help you,

1026
00:50:37,360 --> 00:50:39,640
Speaker 4: like personality tests to understand what you're interested in. We

1027
00:50:39,800 --> 00:50:42,640
Speaker 4: do have a mini boot camp where if you want

1028
00:50:42,719 --> 00:50:46,600
Speaker 4: to build a clone of YouTube, we've done that as well,

1029
00:50:46,680 --> 00:50:48,480
Speaker 4: so you can do it and that will automatically get

1030
00:50:48,480 --> 00:50:51,000
Speaker 4: you accepted into different schools. But we never want to

1031
00:50:51,040 --> 00:50:53,319
Speaker 4: be a school. So being a school is not how

1032
00:50:53,360 --> 00:50:54,720
Speaker 4: you create a monopoly in education.

1033
00:50:55,200 --> 00:50:58,840
Speaker 5: So you. The schools pay you to bring in people.

1034
00:50:59,080 --> 00:51:03,440
Speaker 5: Yeah right, they get training from you, Yeah, they match it.

1035
00:51:04,040 --> 00:51:06,600
Speaker 5: But the career part, so like after they completed, now

1036
00:51:06,640 --> 00:51:08,359
Speaker 5: they got to get the job. That's why you're still

1037
00:51:08,440 --> 00:51:10,799
Speaker 5: involved with that process of them actually getting the job.

1038
00:51:10,920 --> 00:51:14,759
Speaker 4: Yes, so we're a career navigation platform. So we're the

1039
00:51:14,800 --> 00:51:19,160
Speaker 4: wrap around service around everything. And so it's interesting that

1040
00:51:19,239 --> 00:51:22,160
Speaker 4: you say this because the guys that let our series

1041
00:51:22,280 --> 00:51:24,160
Speaker 4: be is top tier capital partners. The people that let

1042
00:51:24,200 --> 00:51:27,239
Speaker 4: our series A is an initialist capital. It's Gary Tan.

1043
00:51:27,960 --> 00:51:30,719
Speaker 4: Gary Tan actually built book Phase for y Combinator, which

1044
00:51:30,760 --> 00:51:36,600
Speaker 4: is the internal directory for YC. And Gary calls career

1045
00:51:36,640 --> 00:51:41,120
Speaker 4: karma y Combinator for the people where why combinator bets

1046
00:51:41,160 --> 00:51:43,239
Speaker 4: on first time founders and career karma bets on people

1047
00:51:43,280 --> 00:51:45,319
Speaker 4: for the first time. So not only do we want

1048
00:51:45,360 --> 00:51:47,719
Speaker 4: to say that again slows down that.

1049
00:51:49,239 --> 00:51:50,120
Speaker 5: That's good, that's good, st.

1050
00:51:50,360 --> 00:51:53,640
Speaker 4: Why combinator bets on first time founders and career karma

1051
00:51:53,719 --> 00:51:56,200
Speaker 4: bets on people for the first time. Thank you for

1052
00:51:56,320 --> 00:51:59,719
Speaker 4: letting let me catch on. And so what's interesting about

1053
00:51:59,719 --> 00:52:02,000
Speaker 4: it is, and I'm glad that you're calling this out,

1054
00:52:02,160 --> 00:52:04,360
Speaker 4: is we don't want people to think that we just

1055
00:52:04,400 --> 00:52:06,719
Speaker 4: send people to schools and we leave them alone after.

1056
00:52:07,400 --> 00:52:10,600
Speaker 4: We want to be there with you before, during, and

1057
00:52:10,800 --> 00:52:13,759
Speaker 4: after the program, and even after you're employed. If you

1058
00:52:13,840 --> 00:52:16,080
Speaker 4: ever want to do something like start a company, we

1059
00:52:16,160 --> 00:52:19,160
Speaker 4: could help you get connected to that or change company.

1060
00:52:19,239 --> 00:52:21,480
Speaker 4: We can help you do that through our audio rooms.

1061
00:52:22,200 --> 00:52:24,239
Speaker 4: So yes, so I'll just.

1062
00:52:24,239 --> 00:52:25,960
Speaker 5: That one one more thing, because you said, this is

1063
00:52:26,000 --> 00:52:28,320
Speaker 5: your quote. You said, this is probably the greatest reallocation

1064
00:52:28,440 --> 00:52:29,719
Speaker 5: of labor since World War Two.

1065
00:52:29,920 --> 00:52:35,279
Speaker 4: That's right, that's right. So during World War Two. What's

1066
00:52:35,440 --> 00:52:38,279
Speaker 4: very interesting about that is the government got involved and

1067
00:52:38,360 --> 00:52:42,439
Speaker 4: they created the the GI Bill, right So the GI

1068
00:52:42,560 --> 00:52:48,440
Speaker 4: Bill essentially paid for the education for veterans. Right now,

1069
00:52:48,640 --> 00:52:53,400
Speaker 4: obviously the government's really focused on healthcare stuff after that.

1070
00:52:53,560 --> 00:52:56,560
Speaker 4: You know, they've started touching on positive student loan payments

1071
00:52:56,640 --> 00:53:00,120
Speaker 4: or whatever. When Obama was in power, there was the

1072
00:53:00,280 --> 00:53:04,120
Speaker 4: WOA Act, which is the Workforce Innovation Opportunity Act. But

1073
00:53:04,440 --> 00:53:08,920
Speaker 4: like this real focus on reskilling hasn't happened yet. In

1074
00:53:09,000 --> 00:53:11,600
Speaker 4: my opinion, something that the CEO of Check says, Dan

1075
00:53:11,680 --> 00:53:13,680
Speaker 4: Rosen's like I'm gonna give him shout out. He says,

1076
00:53:13,719 --> 00:53:15,840
Speaker 4: bet on the inevitable. My opinion is going to be

1077
00:53:15,960 --> 00:53:20,640
Speaker 4: inevitable for government to get involved to help its citizens reskill.

1078
00:53:20,800 --> 00:53:24,320
Speaker 4: Why because every politician measures themselves on getting jobs for

1079
00:53:24,440 --> 00:53:30,239
Speaker 4: their different cities and countries and whatever, and so you're

1080
00:53:30,239 --> 00:53:34,200
Speaker 4: already starting to see different workforce boards get involved with

1081
00:53:34,680 --> 00:53:38,400
Speaker 4: laptop programs or skill programs or Wi Fi hot spots.

1082
00:53:39,280 --> 00:53:43,160
Speaker 4: And in my opinion, the student loan bubble will pop

1083
00:53:43,200 --> 00:53:45,320
Speaker 4: at some point and the cost of education will go

1084
00:53:45,440 --> 00:53:51,440
Speaker 4: down and will be primarily funded by government, philanthropy and employers.

1085
00:53:53,040 --> 00:53:53,920
Speaker 5: Well, I'll go back to that.

1086
00:53:54,120 --> 00:53:58,799
Speaker 3: Yeah, guys, you said that you said had a monopologe.

1087
00:53:58,880 --> 00:54:01,520
Speaker 3: Education is not through talk about that.

1088
00:54:01,920 --> 00:54:06,560
Speaker 4: Yeah, so zero one. It's very important to understand because

1089
00:54:06,600 --> 00:54:10,960
Speaker 4: like something that people talk about is TAM right, total

1090
00:54:11,040 --> 00:54:14,319
Speaker 4: addressable market. So whenever you want to what does that mean?

1091
00:54:14,760 --> 00:54:17,279
Speaker 4: So whenever you're raising a starting a company and you're

1092
00:54:17,280 --> 00:54:19,319
Speaker 4: coming up with your idea for what you want to solve,

1093
00:54:20,360 --> 00:54:22,040
Speaker 4: if you want to build a billion dollar company, you

1094
00:54:22,120 --> 00:54:25,839
Speaker 4: want to build something that has an addressable market that's

1095
00:54:25,880 --> 00:54:28,960
Speaker 4: big enough. So let me give you an example. Let's

1096
00:54:28,960 --> 00:54:31,919
Speaker 4: say that you want to build an app for people

1097
00:54:32,040 --> 00:54:34,799
Speaker 4: that like to play polo. That world is small, right,

1098
00:54:34,840 --> 00:54:37,320
Speaker 4: The people that want to play polo, but the people

1099
00:54:37,440 --> 00:54:40,759
Speaker 4: that ride horses is probably bigger than that. I don't

1100
00:54:40,760 --> 00:54:42,560
Speaker 4: know if that's a billion dollar company or the people

1101
00:54:42,640 --> 00:54:45,600
Speaker 4: that play sports in general. Outside sports in general is

1102
00:54:45,680 --> 00:54:48,160
Speaker 4: much bigger, so that TAM is a lot larger. But

1103
00:54:49,200 --> 00:54:52,440
Speaker 4: you know there's riches and niches, right, So you can

1104
00:54:52,560 --> 00:54:54,560
Speaker 4: start with the people that play polo if you're a

1105
00:54:54,600 --> 00:54:57,680
Speaker 4: polo player, because if you lock that down, then that

1106
00:54:57,800 --> 00:55:04,960
Speaker 4: allows you to take over the outside sports right, exactly exactly.

1107
00:55:05,440 --> 00:55:07,439
Speaker 4: And I was in Argentina and I found out about

1108
00:55:07,520 --> 00:55:10,680
Speaker 4: Ladelfina and all these other things like that and so similar.

1109
00:55:10,680 --> 00:55:12,920
Speaker 4: The reason why I bring this up is because the.

1110
00:55:13,000 --> 00:55:16,480
Speaker 3: Two Nike or Nike right started as a running company.

1111
00:55:16,520 --> 00:55:20,360
Speaker 4: Exactly and then they expend it right, so similar like

1112
00:55:20,520 --> 00:55:20,920
Speaker 4: with us.

1113
00:55:21,080 --> 00:55:21,200
Speaker 3: Right.

1114
00:55:21,360 --> 00:55:25,640
Speaker 4: So the the two point six trillion dollar post secondary

1115
00:55:25,760 --> 00:55:29,359
Speaker 4: education and workforce market is massive, but the boot camp

1116
00:55:29,440 --> 00:55:33,680
Speaker 4: market is five hundred million something like that. So in

1117
00:55:33,719 --> 00:55:35,719
Speaker 4: the beginning when we were raising, a big pushback is

1118
00:55:35,760 --> 00:55:38,480
Speaker 4: like that market is too small. So as a founder,

1119
00:55:38,480 --> 00:55:41,520
Speaker 4: you got to be able to communicate our beach head market,

1120
00:55:42,560 --> 00:55:45,520
Speaker 4: take over boot camps, and then take over the rest

1121
00:55:45,560 --> 00:55:47,439
Speaker 4: of the stuff. Why do we focus on boot camps,

1122
00:55:47,440 --> 00:55:53,400
Speaker 4: because boot camps are the the the the fastest growing

1123
00:55:53,480 --> 00:55:58,080
Speaker 4: post their education market model that traditional education players are copying.

1124
00:55:58,360 --> 00:56:01,520
Speaker 4: And now you know, fast far to today, everybody's copying it.

1125
00:56:01,560 --> 00:56:03,880
Speaker 4: Nobody knew the pandemic was going to hit. The pandemic

1126
00:56:04,040 --> 00:56:07,520
Speaker 4: just proved us right, and now you know, with the

1127
00:56:07,560 --> 00:56:10,560
Speaker 4: main player, we're sixteen times bigger than everybody else because

1128
00:56:10,600 --> 00:56:17,520
Speaker 4: of that. Going back to the piece about monopoly, be

1129
00:56:17,640 --> 00:56:25,279
Speaker 4: careful about monopoly. In the book it talks about it

1130
00:56:25,400 --> 00:56:28,719
Speaker 4: talks about if you want to build a company that

1131
00:56:28,960 --> 00:56:34,760
Speaker 4: dominates a market, you want to figure out a software

1132
00:56:34,920 --> 00:56:38,319
Speaker 4: solution that can be a layer across across these things.

1133
00:56:38,400 --> 00:56:41,120
Speaker 4: So think about, like my father's a physician, so he

1134
00:56:41,760 --> 00:56:45,360
Speaker 4: if you're going to build a hospital, you can't build

1135
00:56:45,360 --> 00:56:48,640
Speaker 4: a hospital that heals the entire world. One hospital that

1136
00:56:48,719 --> 00:56:51,120
Speaker 4: heals the world, because it's so complex, right, there's just

1137
00:56:51,200 --> 00:56:53,120
Speaker 4: so many different versions of cancer. You're not gonna do

1138
00:56:53,200 --> 00:56:56,239
Speaker 4: that with one hospital. But you can build a platform

1139
00:56:56,840 --> 00:57:00,360
Speaker 4: that heals the world by connecting to every type of

1140
00:57:00,480 --> 00:57:05,960
Speaker 4: healthcare clinic and healthcare institution that serves people with various

1141
00:57:06,000 --> 00:57:09,640
Speaker 4: needs all over the world. Soon And so if I

1142
00:57:09,800 --> 00:57:13,239
Speaker 4: want to help a billion people through careercom which is

1143
00:57:13,320 --> 00:57:15,360
Speaker 4: our mission. We want to connect the world's talent to

1144
00:57:15,480 --> 00:57:18,760
Speaker 4: us next opportunity. Then I can't do it by starting

1145
00:57:18,840 --> 00:57:21,200
Speaker 4: the school. As much as I love education, my sister's

1146
00:57:21,200 --> 00:57:24,240
Speaker 4: a teacher, I want to build a school, but I can't.

1147
00:57:24,320 --> 00:57:25,920
Speaker 4: That's not how I'm gonna I want to see this

1148
00:57:26,000 --> 00:57:27,120
Speaker 4: in my life. So I want to help a billion

1149
00:57:27,120 --> 00:57:29,120
Speaker 4: people in my lifestyle. The only way I could do

1150
00:57:29,160 --> 00:57:31,360
Speaker 4: that is through software and connecting to the schools, connecting

1151
00:57:31,440 --> 00:57:32,880
Speaker 4: to companies, and connecting to the people.

1152
00:57:33,840 --> 00:57:34,000
Speaker 3: You know.

1153
00:57:34,720 --> 00:57:38,120
Speaker 5: You said employer paid tuition something that's coming in the future,

1154
00:57:39,200 --> 00:57:41,360
Speaker 5: but most people are here that like, oh, it's too closely,

1155
00:57:41,720 --> 00:57:43,520
Speaker 5: but it actually it could be a benefit. Can you

1156
00:57:43,560 --> 00:57:46,560
Speaker 5: talk about why employers should be actually thinking this model

1157
00:57:46,840 --> 00:57:49,560
Speaker 5: before this which it segues into it.

1158
00:57:49,680 --> 00:57:52,960
Speaker 4: So when I was in Demo dem not only did

1159
00:57:53,000 --> 00:57:55,040
Speaker 4: I talk about that, we launched in traction. I talked

1160
00:57:55,080 --> 00:57:57,040
Speaker 4: about how three hundred and seventy five million workers are

1161
00:57:57,080 --> 00:58:00,080
Speaker 4: going to switch careers between now and twenty thirty that

1162
00:58:00,160 --> 00:58:01,720
Speaker 4: are going back to college. They're going to go to

1163
00:58:01,840 --> 00:58:04,200
Speaker 4: job training programs to find the next jobs. I talked

1164
00:58:04,200 --> 00:58:09,080
Speaker 4: about how income share agreements are changing the landscape. What

1165
00:58:09,200 --> 00:58:12,920
Speaker 4: does that mean. It means that historically, when people go

1166
00:58:13,040 --> 00:58:15,960
Speaker 4: to school, they either pay for it out of pocket,

1167
00:58:16,480 --> 00:58:19,200
Speaker 4: they take out a loan, or they get government funding

1168
00:58:19,280 --> 00:58:23,920
Speaker 4: or they get a scholarship. There are two things called

1169
00:58:23,960 --> 00:58:28,240
Speaker 4: income share agreements and deferred tuition. So income share agreements

1170
00:58:28,280 --> 00:58:31,360
Speaker 4: in defer tuition are a promised where it says, hit Troy,

1171
00:58:31,560 --> 00:58:34,000
Speaker 4: I promise I'm going to get you a job. If

1172
00:58:34,040 --> 00:58:36,240
Speaker 4: you don't get a job through my training, you don't

1173
00:58:36,240 --> 00:58:38,480
Speaker 4: have to pay me anything. But if you do get

1174
00:58:38,520 --> 00:58:40,600
Speaker 4: a job that's in the lane that you want to

1175
00:58:40,640 --> 00:58:43,400
Speaker 4: be in, then the tuition comes out of your new

1176
00:58:43,520 --> 00:58:47,960
Speaker 4: salary up to whatever maximum did I tell you, right?

1177
00:58:48,840 --> 00:58:50,840
Speaker 4: And what's cool about that is like literally you can

1178
00:58:50,880 --> 00:58:52,960
Speaker 4: try any type of education that you want to. If

1179
00:58:53,000 --> 00:58:54,800
Speaker 4: you don't get a job, you don't pay anything. And

1180
00:58:54,880 --> 00:58:56,760
Speaker 4: so most of people that come to career CROMA they

1181
00:58:56,840 --> 00:59:01,160
Speaker 4: do either an income share agreement or defer tuition option. Okay, Now,

1182
00:59:01,800 --> 00:59:05,520
Speaker 4: the employer thing is very interesting because it also fits

1183
00:59:05,560 --> 00:59:12,240
Speaker 4: into the great resignation stuff. Employees have the power and

1184
00:59:12,320 --> 00:59:14,320
Speaker 4: contractors have the power these days.

1185
00:59:14,800 --> 00:59:14,880
Speaker 1: And.

1186
00:59:16,400 --> 00:59:18,360
Speaker 4: What a lot of employers are starting to do. Part

1187
00:59:18,400 --> 00:59:20,880
Speaker 4: of the reason why employers pay for your healthcare, which

1188
00:59:20,920 --> 00:59:22,720
Speaker 4: is the big reason why people go there is because

1189
00:59:23,040 --> 00:59:25,640
Speaker 4: you know, people will work in factories and things like that,

1190
00:59:26,200 --> 00:59:28,919
Speaker 4: and if they get injured, they you know, and people

1191
00:59:28,960 --> 00:59:30,920
Speaker 4: want to have start families and retire and things like that.

1192
00:59:31,080 --> 00:59:32,600
Speaker 4: That's why they would do that to attract you to

1193
00:59:32,960 --> 00:59:36,640
Speaker 4: join the company. Since people aren't just going to school

1194
00:59:36,640 --> 00:59:40,400
Speaker 4: for four years and being there forever, companies are actually

1195
00:59:40,440 --> 00:59:43,200
Speaker 4: starting to get involved to make sure that they're funding

1196
00:59:43,240 --> 00:59:45,120
Speaker 4: your ongoing training so you don't have to pay for it.

1197
00:59:45,720 --> 00:59:48,920
Speaker 4: And so you see like Amazon paying seven hundred million

1198
00:59:49,320 --> 00:59:52,640
Speaker 4: for warehouse workers so that they can get their tuition

1199
00:59:52,760 --> 00:59:55,960
Speaker 4: paid for. You see PwC putting three billion towards this.

1200
00:59:56,160 --> 00:59:58,600
Speaker 4: You see at and T putting a billion towards this,

1201
00:59:58,720 --> 01:00:00,600
Speaker 4: may Sye's Walmart. All these people are starting to get

1202
01:00:00,640 --> 01:00:04,160
Speaker 4: involved because everybody's going digital target Look at targets like

1203
01:00:04,280 --> 01:00:07,760
Speaker 4: digital numbers going crazy, Domino's digital numbers are going crazy.

1204
01:00:07,840 --> 01:00:09,120
Speaker 4: It's not just tech companies.

1205
01:00:09,480 --> 01:00:09,720
Speaker 3: And so.

1206
01:00:11,440 --> 01:00:14,800
Speaker 4: The World Economic Forum they just made a big plague

1207
01:00:14,880 --> 01:00:19,160
Speaker 4: to reskill a billion people by twenty thirty with companies, governments,

1208
01:00:19,160 --> 01:00:21,120
Speaker 4: and philanthropies. And I was like, that's my mission too.

1209
01:00:21,600 --> 01:00:24,240
Speaker 4: And there's another really cool organization called one ten dot

1210
01:00:24,400 --> 01:00:27,840
Speaker 4: org that was started by kenchin Out, former CEO of

1211
01:00:27,920 --> 01:00:30,360
Speaker 4: American Express, also a black dude, which we got a

1212
01:00:30,400 --> 01:00:33,920
Speaker 4: shout out, and he's also on the board and Guild Education,

1213
01:00:34,040 --> 01:00:37,000
Speaker 4: which is the pioneer in education as a benefit Give

1214
01:00:37,120 --> 01:00:40,960
Speaker 4: had that shout out to Rachel and they're doing really

1215
01:00:41,000 --> 01:00:42,520
Speaker 4: amazing things on the enterprise side.

1216
01:00:43,680 --> 01:00:47,520
Speaker 3: So yeah, So as far as all right, so you

1217
01:00:47,720 --> 01:00:50,120
Speaker 3: just closed the B round, So when you're raising this money,

1218
01:00:50,320 --> 01:00:52,200
Speaker 3: like you're hearing the news like are you raised forty

1219
01:00:52,200 --> 01:00:54,760
Speaker 3: million dollars? What does that actually mean? As far as

1220
01:00:54,880 --> 01:00:57,760
Speaker 3: like how much of that is going to get allocated

1221
01:00:57,840 --> 01:01:01,800
Speaker 3: towards like infrastructureloyees? Like when people raise that kind of

1222
01:01:01,840 --> 01:01:05,040
Speaker 3: money like a broad overview or you can speak specifically

1223
01:01:05,080 --> 01:01:07,480
Speaker 3: to your situation either or like where does that money go?

1224
01:01:08,080 --> 01:01:11,880
Speaker 3: And like you said, each round, I guess it dilutes

1225
01:01:11,960 --> 01:01:13,000
Speaker 3: the ownership, right.

1226
01:01:13,280 --> 01:01:16,120
Speaker 4: It can, Okay, it depends on how much lover is

1227
01:01:16,160 --> 01:01:16,440
Speaker 4: you got.

1228
01:01:17,400 --> 01:01:20,040
Speaker 3: Okay, So like you start off for the company, you

1229
01:01:20,120 --> 01:01:23,640
Speaker 3: have one hundred percent ownership, right then you have the

1230
01:01:23,960 --> 01:01:26,240
Speaker 3: family and friends around, and then you might give up

1231
01:01:26,240 --> 01:01:28,880
Speaker 3: a ten percent the family and friends maybe I'm just

1232
01:01:29,000 --> 01:01:32,720
Speaker 3: using an example, or you could give the example of

1233
01:01:32,840 --> 01:01:36,320
Speaker 3: like what's usually typicalp going and then like precede, you

1234
01:01:36,400 --> 01:01:39,200
Speaker 3: give another ten percent, right, so now you got eighty

1235
01:01:39,600 --> 01:01:40,600
Speaker 3: you gave up twenty percent.

1236
01:01:40,680 --> 01:01:45,440
Speaker 4: Now I would say, I would just say, like every round,

1237
01:01:46,320 --> 01:01:50,120
Speaker 4: there's that lution, but it's not always that extreme. I

1238
01:01:50,200 --> 01:01:55,960
Speaker 4: think like you could you could definitely expect to still

1239
01:01:56,000 --> 01:01:58,120
Speaker 4: have most of your company and buy the B stage

1240
01:01:58,200 --> 01:01:59,880
Speaker 4: for most people if you played.

1241
01:01:59,680 --> 01:02:02,680
Speaker 3: It right, more than fifty you for for a lot

1242
01:02:02,760 --> 01:02:03,120
Speaker 3: of people.

1243
01:02:03,280 --> 01:02:08,080
Speaker 4: But some people, a lot of people don't end up

1244
01:02:08,160 --> 01:02:08,320
Speaker 4: like that.

1245
01:02:09,320 --> 01:02:11,600
Speaker 3: What could they give up too much early? Or yeah?

1246
01:02:13,160 --> 01:02:15,960
Speaker 3: So all right, what's the what's a good amount to

1247
01:02:16,120 --> 01:02:16,480
Speaker 3: give up?

1248
01:02:17,400 --> 01:02:21,040
Speaker 4: Depends? Like it's kind of like raising raising sid Like

1249
01:02:21,520 --> 01:02:25,040
Speaker 4: there are definitely different Like it depends on the industry

1250
01:02:25,080 --> 01:02:27,440
Speaker 4: that you're in, depends on the market, depends on the investors.

1251
01:02:28,760 --> 01:02:29,880
Speaker 3: How much you need money too.

1252
01:02:29,920 --> 01:02:31,720
Speaker 4: How much you need money, yeah, how desperate you are.

1253
01:02:31,880 --> 01:02:33,200
Speaker 4: The best time to raise money is when you don't

1254
01:02:33,240 --> 01:02:38,200
Speaker 4: need money, right, So like for example, so like let

1255
01:02:38,240 --> 01:02:40,200
Speaker 4: me let me give you exactly right, So when we

1256
01:02:40,320 --> 01:02:43,560
Speaker 4: raised that Series A, so we finished, we finished, I

1257
01:02:43,680 --> 01:02:46,600
Speaker 4: tell you raise half a million, dem with day I

1258
01:02:46,760 --> 01:02:53,560
Speaker 4: raised one point five right, so pandemic hit markets dry.

1259
01:02:53,960 --> 01:02:56,560
Speaker 4: Everybody's telling me, yo, you got to keep eighteen to

1260
01:02:56,680 --> 01:03:00,680
Speaker 4: twenty four months of reserves of reserves because because nobody's

1261
01:03:00,720 --> 01:03:04,320
Speaker 4: cutting checks, so we had to get scrappy and we

1262
01:03:04,400 --> 01:03:07,800
Speaker 4: got profitable, and we were profitable for five months. So

1263
01:03:08,080 --> 01:03:10,880
Speaker 4: when I raised money at the end of twenty twenty,

1264
01:03:13,280 --> 01:03:15,000
Speaker 4: I still had a million in the bank out of

1265
01:03:15,040 --> 01:03:16,360
Speaker 4: the one point five that are raised, and I have

1266
01:03:16,440 --> 01:03:21,200
Speaker 4: forty five people working for the company, so you have leverage. Right,

1267
01:03:21,280 --> 01:03:26,440
Speaker 4: They're like, oh, it's capital efficient. Well, that said, you'll

1268
01:03:26,440 --> 01:03:28,560
Speaker 4: also get the flip side where some investors be like, oh,

1269
01:03:28,600 --> 01:03:31,320
Speaker 4: you too capital efficient because you're not investing in your

1270
01:03:31,360 --> 01:03:33,800
Speaker 4: growth and he's supposed to not be profitable. So it

1271
01:03:33,880 --> 01:03:37,480
Speaker 4: really depends on who you're talking to. But we've always

1272
01:03:37,520 --> 01:03:40,040
Speaker 4: been like that same thing with this With this round,

1273
01:03:41,000 --> 01:03:44,600
Speaker 4: when we raised the Series B, we only spent three

1274
01:03:44,600 --> 01:03:47,400
Speaker 4: million out of the ten million that we raised, and

1275
01:03:47,520 --> 01:03:50,680
Speaker 4: we had about one hundred fifty people working for the

1276
01:03:50,720 --> 01:03:51,720
Speaker 4: company at the time.

1277
01:03:52,920 --> 01:03:55,720
Speaker 3: So yeah, I mean, because even us, we've been approached

1278
01:03:55,760 --> 01:03:59,600
Speaker 3: from different people like interested in buying it's like, fortunately,

1279
01:03:59,680 --> 01:04:02,800
Speaker 3: fust we didn't need the money. So I was like,

1280
01:04:02,880 --> 01:04:04,000
Speaker 3: you know, we're not very interested.

1281
01:04:04,480 --> 01:04:06,240
Speaker 4: That's the best way to raise right there.

1282
01:04:07,080 --> 01:04:08,800
Speaker 3: Yeah, well you don't need it.

1283
01:04:09,120 --> 01:04:10,880
Speaker 4: You don't need it. And like even even now, so

1284
01:04:11,000 --> 01:04:12,920
Speaker 4: this is this is another thing that's sportance to do though,

1285
01:04:13,040 --> 01:04:14,960
Speaker 4: but you keep those people close, right, You're still talk

1286
01:04:14,960 --> 01:04:16,880
Speaker 4: to them, checking with them every quarter. So like we

1287
01:04:17,000 --> 01:04:19,360
Speaker 4: just raised this round, so of course all the investors

1288
01:04:19,360 --> 01:04:21,720
Speaker 4: are gonna start handing you up. Make sure you check

1289
01:04:21,760 --> 01:04:24,640
Speaker 4: in with them every quarter even now, talking about what's

1290
01:04:24,680 --> 01:04:26,640
Speaker 4: gonna come next, and tell them what you're gonna do.

1291
01:04:27,280 --> 01:04:29,120
Speaker 4: And then just make sure that every time you catch

1292
01:04:29,240 --> 01:04:31,160
Speaker 4: up with them, don't tell them everything that's going on

1293
01:04:31,240 --> 01:04:33,240
Speaker 4: with your business, but make sure you're telling them that

1294
01:04:33,280 --> 01:04:36,080
Speaker 4: you make your progress. So you create the fomo, right,

1295
01:04:36,560 --> 01:04:38,640
Speaker 4: and I've done this four times now, you know the

1296
01:04:38,720 --> 01:04:39,439
Speaker 4: next one is going.

1297
01:04:39,360 --> 01:04:39,760
Speaker 3: To be big.

1298
01:04:39,920 --> 01:04:45,480
Speaker 5: So so the last one was forty, right exactly. So

1299
01:04:46,600 --> 01:04:48,960
Speaker 5: the forty obviously, I mean maybe it was a goal

1300
01:04:49,040 --> 01:04:50,520
Speaker 5: that was the number that you wanted to reach. I

1301
01:04:50,600 --> 01:04:52,720
Speaker 5: started off at wanting to raise thirty, by the way,

1302
01:04:53,040 --> 01:04:56,720
Speaker 5: wanted to raise thirty. So you have stages of development.

1303
01:04:56,800 --> 01:04:59,480
Speaker 5: So obviously you started out his career advice service. So

1304
01:05:00,440 --> 01:05:02,680
Speaker 5: let's talk about the career. Is the pathways that you

1305
01:05:02,800 --> 01:05:07,760
Speaker 5: have in terms of development and are you allocating the

1306
01:05:07,880 --> 01:05:09,960
Speaker 5: amount that you need for each stage? Is that how

1307
01:05:09,960 --> 01:05:10,280
Speaker 5: it's working?

1308
01:05:10,360 --> 01:05:12,800
Speaker 4: A good question, but I was going to ask answer

1309
01:05:12,920 --> 01:05:18,160
Speaker 4: his question about how it's allocating fits that's perfect. We

1310
01:05:18,280 --> 01:05:21,720
Speaker 4: currently have seven different career paths. See if I remember

1311
01:05:21,800 --> 01:05:29,760
Speaker 4: all of them, software engineering, sales, design, data science, data analytics, cybersecurity,

1312
01:05:30,640 --> 01:05:33,520
Speaker 4: product management. I think maybe even more marketing as well.

1313
01:05:33,560 --> 01:05:36,200
Speaker 4: So we're always launching new things, new things for people.

1314
01:05:38,560 --> 01:05:42,680
Speaker 4: You asked about the biggest challenges right now. So the

1315
01:05:42,800 --> 01:05:45,760
Speaker 4: majority of the capital is going towards hiring, right going

1316
01:05:45,840 --> 01:05:50,760
Speaker 4: back to this is an employees market. Uh, you need

1317
01:05:50,880 --> 01:05:53,919
Speaker 4: to be competitive in the market. Tech people get paid

1318
01:05:54,440 --> 01:05:56,200
Speaker 4: very well, So I got to make sure more people

1319
01:05:56,240 --> 01:05:59,200
Speaker 4: are paid very well and they have their benefits and

1320
01:05:59,240 --> 01:06:02,160
Speaker 4: they have their other things as well. And since you're

1321
01:06:02,160 --> 01:06:05,600
Speaker 4: attracting really really talented people, shout out to our VP

1322
01:06:05,640 --> 01:06:08,680
Speaker 4: of People, Jessica Lamb, you have to make sure that

1323
01:06:08,840 --> 01:06:12,480
Speaker 4: like their competency modeling is done so they have internal

1324
01:06:12,560 --> 01:06:14,320
Speaker 4: career paths, they know what they need to do or

1325
01:06:14,360 --> 01:06:19,840
Speaker 4: to get rewarded, and things like that. So, now that

1326
01:06:19,920 --> 01:06:21,560
Speaker 4: we have three million people a month coming to us,

1327
01:06:21,560 --> 01:06:24,200
Speaker 4: it's very important for us to invest in data. We

1328
01:06:24,280 --> 01:06:26,120
Speaker 4: actually want to grow to fifty million people a moth

1329
01:06:26,200 --> 01:06:29,680
Speaker 4: organically in the next two years. So our data needs

1330
01:06:29,720 --> 01:06:31,800
Speaker 4: are going to have to not just segment users by

1331
01:06:31,880 --> 01:06:35,200
Speaker 4: level of intent, like how bad do you want this? High? Medium,

1332
01:06:35,480 --> 01:06:39,000
Speaker 4: low intent? What interest do you have? What struggles are

1333
01:06:39,040 --> 01:06:41,640
Speaker 4: you dealing with? Good credit, bad credit? Do you have money,

1334
01:06:41,680 --> 01:06:43,760
Speaker 4: you do not have money? Have you tried learning how

1335
01:06:43,800 --> 01:06:44,120
Speaker 4: to code?

1336
01:06:44,160 --> 01:06:44,480
Speaker 1: Have you not?

1337
01:06:45,400 --> 01:06:48,760
Speaker 4: Once you segment everybody, then you need to design specific

1338
01:06:48,880 --> 01:06:51,720
Speaker 4: pathways for everybody. The example that I gave him was,

1339
01:06:52,000 --> 01:06:54,520
Speaker 4: if you're on Amazon, your homepage is going to be

1340
01:06:54,560 --> 01:06:57,840
Speaker 4: different than my homepage because we have different interests, right

1341
01:06:57,920 --> 01:06:59,880
Speaker 4: and same thing if we have different interests and careers,

1342
01:07:00,040 --> 01:07:03,040
Speaker 4: got to make sure that your flows are unique to

1343
01:07:03,560 --> 01:07:06,400
Speaker 4: who you are. And so we got to invest in that.

1344
01:07:07,240 --> 01:07:09,360
Speaker 4: And then once we've invested in design and data, then

1345
01:07:09,360 --> 01:07:11,360
Speaker 4: we got to start investing into product.

1346
01:07:11,560 --> 01:07:17,960
Speaker 3: So yeah, so what's the scalable model like going forward

1347
01:07:18,120 --> 01:07:21,480
Speaker 3: to actually get to that billion dollar level for you

1348
01:07:21,680 --> 01:07:23,600
Speaker 3: is just continue the path that you want right now.

1349
01:07:23,760 --> 01:07:25,560
Speaker 4: Continuing the path that we're on gets us to the

1350
01:07:25,560 --> 01:07:27,240
Speaker 4: billion dollar level. But we don't want to be a

1351
01:07:27,320 --> 01:07:28,960
Speaker 4: billion dollar company. We want to be a ten or

1352
01:07:28,960 --> 01:07:30,920
Speaker 4: one hundred billion dollar company, right.

1353
01:07:30,800 --> 01:07:33,960
Speaker 3: So eventually going public, Yes, So what's the what's the

1354
01:07:34,160 --> 01:07:36,800
Speaker 3: what's the all? Right, what's the pathway for you to

1355
01:07:36,880 --> 01:07:37,320
Speaker 3: go public?

1356
01:07:38,200 --> 01:07:39,560
Speaker 4: You got to get to a hundred million a year,

1357
01:07:39,760 --> 01:07:41,400
Speaker 4: one hundred million a year, hundred million a year.

1358
01:07:41,440 --> 01:07:43,320
Speaker 3: You can't go public without making a hundred million a year.

1359
01:07:43,440 --> 01:07:45,960
Speaker 3: You can, but that you just want to go make

1360
01:07:45,960 --> 01:07:47,400
Speaker 3: a hundred million because you could You could even go

1361
01:07:47,440 --> 01:07:49,400
Speaker 3: to spack route, right, Yeah, you can go spack route.

1362
01:07:49,480 --> 01:07:54,600
Speaker 4: You could go spack Roup. I'm not rushing it, right Like,

1363
01:07:54,680 --> 01:07:57,760
Speaker 4: I'm like, I'm blessed to We're blessed to have investors

1364
01:07:57,800 --> 01:08:01,920
Speaker 4: which we'll talk about in a second, that have very

1365
01:08:02,040 --> 01:08:04,640
Speaker 4: deep pockets that are that can invest in us all

1366
01:08:04,640 --> 01:08:06,960
Speaker 4: the way to IPO. So that's that's a really cool

1367
01:08:07,040 --> 01:08:11,680
Speaker 4: position to be in. And and we want to make

1368
01:08:11,720 --> 01:08:14,080
Speaker 4: sure that we have a strong foundation. Right, there's a

1369
01:08:14,120 --> 01:08:16,640
Speaker 4: lot of stuff that's like not real out here, A

1370
01:08:16,720 --> 01:08:18,920
Speaker 4: lot of people that's just all headlines. I don't want

1371
01:08:18,960 --> 01:08:21,439
Speaker 4: to be all headlines. I actually want to be helping people.

1372
01:08:21,520 --> 01:08:24,760
Speaker 4: I actually want people getting jobs like your boy that

1373
01:08:24,920 --> 01:08:28,080
Speaker 4: made this whole podcast happen. We're creating a movement, right,

1374
01:08:28,160 --> 01:08:31,599
Speaker 4: there are real people on the ground that are doing

1375
01:08:31,640 --> 01:08:33,920
Speaker 4: their thing, that are now leaders out here, like one

1376
01:08:33,960 --> 01:08:37,120
Speaker 4: of our other investors, the Winklevoss Twins stuff, the first

1377
01:08:37,360 --> 01:08:39,360
Speaker 4: they're out here. I heard of them, Yeah you might

1378
01:08:39,479 --> 01:08:42,719
Speaker 4: hear yeah, the first. The first person that we placed

1379
01:08:43,320 --> 01:08:45,919
Speaker 4: in career Coms a guy named Jeric Warren at Gemini.

1380
01:08:46,600 --> 01:08:48,439
Speaker 4: He got a job making one hundred forty five thousand

1381
01:08:48,520 --> 01:08:51,479
Speaker 4: black man, single dad. He's the one who connected to me,

1382
01:08:51,600 --> 01:08:53,720
Speaker 4: to them and like I didn't even ask him, he

1383
01:08:53,840 --> 01:08:57,000
Speaker 4: volunteered it. Keisha Lake who we got at stitch Fixed

1384
01:08:57,200 --> 01:09:01,480
Speaker 4: now she stitch Fixed CEO Katrina Lake is a billionaire.

1385
01:09:01,560 --> 01:09:03,840
Speaker 4: She also became an investor in a company. So it's

1386
01:09:03,880 --> 01:09:07,080
Speaker 4: just like through people like actually looking out for people.

1387
01:09:07,120 --> 01:09:07,400
Speaker 3: You do so.

1388
01:09:07,600 --> 01:09:09,759
Speaker 4: But to answer your question about how you go beyond

1389
01:09:10,160 --> 01:09:13,160
Speaker 4: a billion to ten hundred billion, you have to understand

1390
01:09:13,360 --> 01:09:19,120
Speaker 4: the market, the total adjustable market. What we're doing, we'll

1391
01:09:19,160 --> 01:09:22,000
Speaker 4: get us to a billion dollar company, but in order

1392
01:09:22,040 --> 01:09:24,280
Speaker 4: to really start getting into the bigger scale, right, if

1393
01:09:24,360 --> 01:09:27,120
Speaker 4: I want to be ten billion dollar company, I have

1394
01:09:27,240 --> 01:09:30,479
Speaker 4: to make like a billion a year, right, and then

1395
01:09:30,880 --> 01:09:33,000
Speaker 4: ten billion a year to be one hundred billion dollar company.

1396
01:09:33,080 --> 01:09:38,160
Speaker 4: So how do you do that the enterprise? So a

1397
01:09:38,240 --> 01:09:41,800
Speaker 4: lot of investors really like investing into SaaS companies, so

1398
01:09:42,080 --> 01:09:45,960
Speaker 4: software as the service companies and recurring revenue contracts. So

1399
01:09:47,240 --> 01:09:50,400
Speaker 4: if you go to careercom dot com, slash company, slash jobs,

1400
01:09:50,760 --> 01:09:53,759
Speaker 4: you'll see all of our open roles. I'm actively hiring

1401
01:09:53,880 --> 01:09:55,599
Speaker 4: a head of finance and a head of business development

1402
01:09:55,640 --> 01:09:57,600
Speaker 4: that will both report to me, and that head of

1403
01:09:57,680 --> 01:10:00,280
Speaker 4: business development is going to be the individual rule that

1404
01:10:00,360 --> 01:10:02,599
Speaker 4: I work with with my co founders and the team

1405
01:10:03,400 --> 01:10:06,880
Speaker 4: to take over the entire fortune one thousand and help

1406
01:10:07,040 --> 01:10:11,479
Speaker 4: them attract, or chain and upscale their workforces by offering

1407
01:10:11,560 --> 01:10:14,680
Speaker 4: career Comma as a benefit to them. A good way

1408
01:10:14,720 --> 01:10:18,240
Speaker 4: to think about it is, think about all these gig

1409
01:10:18,280 --> 01:10:22,920
Speaker 4: economy companies with millions of workers that drive but don't

1410
01:10:22,920 --> 01:10:25,519
Speaker 4: want to be in those jobs forever. We can offer

1411
01:10:25,600 --> 01:10:27,400
Speaker 4: career Comma as a benefit. The company pays for it,

1412
01:10:27,479 --> 01:10:30,280
Speaker 4: and then they get jobs at the end. Huge all

1413
01:10:30,400 --> 01:10:34,120
Speaker 4: users for career Comma. It's free for the company. Actually,

1414
01:10:34,360 --> 01:10:37,320
Speaker 4: the school still pay us boom right. A lot of

1415
01:10:37,360 --> 01:10:38,360
Speaker 4: really interesting things like that.

1416
01:10:38,800 --> 01:10:42,320
Speaker 5: So the marketing right because I'm thinking like social media

1417
01:10:42,360 --> 01:10:45,080
Speaker 5: obviously is a big marketing place, and is the marketing

1418
01:10:45,400 --> 01:10:47,360
Speaker 5: kind of word of mouth? And then the product that

1419
01:10:47,479 --> 01:10:50,479
Speaker 5: you're actually giving is the marketing plan because I'm thinking

1420
01:10:50,520 --> 01:10:53,360
Speaker 5: like even for like if we did an SEO when

1421
01:10:53,400 --> 01:10:55,960
Speaker 5: I'm put in career comma, if I put the wrong letter,

1422
01:10:56,000 --> 01:10:59,360
Speaker 5: it might give me credit Comma. So like, how does

1423
01:10:59,400 --> 01:11:01,120
Speaker 5: the marketing go? How you go about it?

1424
01:11:01,479 --> 01:11:05,240
Speaker 4: So my co founder Archer, he's a chief Technology officer,

1425
01:11:05,320 --> 01:11:07,599
Speaker 4: but also he's in charge of the SEO. For people

1426
01:11:07,680 --> 01:11:10,040
Speaker 4: that don't know what SEO is is very important to understand.

1427
01:11:10,040 --> 01:11:13,080
Speaker 4: I'm glad that you're bringing it up. It's search engine optimization.

1428
01:11:13,640 --> 01:11:17,200
Speaker 4: When we talked about paid marketing to Google and Facebook

1429
01:11:17,280 --> 01:11:21,200
Speaker 4: or Instagram or whatever, which we do, that's called sem

1430
01:11:21,960 --> 01:11:25,600
Speaker 4: search engine marketing. But SEO is organic traffic, so we

1431
01:11:25,680 --> 01:11:30,240
Speaker 4: get millions of dollars for free traffic. And you gave

1432
01:11:30,320 --> 01:11:32,799
Speaker 4: the credit card example, if I was in the fintech space,

1433
01:11:33,120 --> 01:11:35,439
Speaker 4: you know the fat had keywords. He probably heard of

1434
01:11:35,479 --> 01:11:39,200
Speaker 4: the long tail or like just type credit card and Google,

1435
01:11:39,280 --> 01:11:41,600
Speaker 4: and that's what's going to pop up. You want to

1436
01:11:41,760 --> 01:11:45,280
Speaker 4: find like the real hard to search terms and like

1437
01:11:45,400 --> 01:11:47,639
Speaker 4: really be the thing that pops up for all those

1438
01:11:47,760 --> 01:11:52,360
Speaker 4: like random things like an answer to a Python or

1439
01:11:52,360 --> 01:11:55,200
Speaker 4: a Java script question, and your article pops up. And

1440
01:11:55,360 --> 01:11:58,439
Speaker 4: as you start establishing a domain authority, then you eventually

1441
01:11:58,479 --> 01:12:03,000
Speaker 4: can take over the the more popular keywords. Our team

1442
01:12:03,040 --> 01:12:05,559
Speaker 4: produces about two hundred to seven hundred articles a month

1443
01:12:06,120 --> 01:12:10,439
Speaker 4: on SEO. We do podcasts like this, which helps we

1444
01:12:10,600 --> 01:12:13,280
Speaker 4: do video. We do all kinds of things like that.

1445
01:12:14,160 --> 01:12:16,960
Speaker 4: We put out research reports that are backlinked to dot ors,

1446
01:12:17,080 --> 01:12:20,400
Speaker 4: dot govs, which establishes our domain authority, which is why

1447
01:12:20,439 --> 01:12:22,240
Speaker 4: we're going to continue to win. But then also we

1448
01:12:22,400 --> 01:12:25,800
Speaker 4: leverage programmatic landing pages. So if you put this school

1449
01:12:25,880 --> 01:12:28,680
Speaker 4: versus that school, our pages will pop up. Eventually it

1450
01:12:28,800 --> 01:12:31,559
Speaker 4: be this company that company. If you type in Google today,

1451
01:12:31,720 --> 01:12:33,639
Speaker 4: do it today, how to get a job at Golden

1452
01:12:33,720 --> 01:12:35,519
Speaker 4: Sas you'll see, career Komba pops up there. So what

1453
01:12:35,600 --> 01:12:38,000
Speaker 4: do you think we're gonna do. We're gonna make listicals

1454
01:12:38,160 --> 01:12:43,719
Speaker 4: like top companies that pay for your tuition, career Corama.

1455
01:12:43,800 --> 01:12:46,720
Speaker 4: We're gonna dominate that whole thing and every other type

1456
01:12:46,720 --> 01:12:49,280
Speaker 4: of ancillary term so that as people are searching it,

1457
01:12:50,600 --> 01:12:54,320
Speaker 4: that it gets discovered. The problem with SEO, I would say,

1458
01:12:54,320 --> 01:12:57,040
Speaker 4: it's necessarily an entire problem, is that you're only gonna

1459
01:12:57,200 --> 01:13:01,560
Speaker 4: attract people that know what to look for. So you

1460
01:13:01,720 --> 01:13:05,840
Speaker 4: need paid as well to reach people because, like we're trying,

1461
01:13:05,960 --> 01:13:07,479
Speaker 4: you can't spread the gospel to people that know the

1462
01:13:07,520 --> 01:13:09,840
Speaker 4: gospel already, right, so you got to like actually be

1463
01:13:09,920 --> 01:13:10,240
Speaker 4: out there.

1464
01:13:10,439 --> 01:13:13,200
Speaker 5: The person that's typing career is actually thinking about their career.

1465
01:13:13,840 --> 01:13:14,000
Speaker 3: Yah.

1466
01:13:14,040 --> 01:13:16,040
Speaker 4: And that's why you're doing this, right, Like you're doing

1467
01:13:16,080 --> 01:13:18,840
Speaker 4: this to educate people about what's going on. Because the

1468
01:13:18,920 --> 01:13:20,920
Speaker 4: people that you're trying to reach, that you really want

1469
01:13:21,000 --> 01:13:22,800
Speaker 4: listening to this don't know what to search.

1470
01:13:24,160 --> 01:13:29,240
Speaker 3: So what's the like if who's the ideal candidate for

1471
01:13:29,479 --> 01:13:32,960
Speaker 3: career karma? Yeah, who should go to careercarma dot com?

1472
01:13:33,120 --> 01:13:35,320
Speaker 4: But a great question. So when I try to investors,

1473
01:13:35,320 --> 01:13:37,320
Speaker 4: I say it's blue collar workers between the age of

1474
01:13:37,400 --> 01:13:40,040
Speaker 4: twenty five and thirty five years old who want to

1475
01:13:40,040 --> 01:13:42,360
Speaker 4: get a job in tech. But the really answer is,

1476
01:13:42,479 --> 01:13:45,559
Speaker 4: like anybody that wants to make a career transition usually

1477
01:13:45,680 --> 01:13:48,600
Speaker 4: twenty one in up. Because I don't want to be

1478
01:13:49,439 --> 01:13:51,360
Speaker 4: encouraging people to drop out of high school if they're

1479
01:13:51,360 --> 01:13:53,200
Speaker 4: already in high school. Even though this can get you

1480
01:13:53,240 --> 01:13:56,000
Speaker 4: a job, and we do have sixteen, seventeen, eighteen year

1481
01:13:56,000 --> 01:13:58,519
Speaker 4: olds that have gone through the process and gotten a job.

1482
01:13:58,960 --> 01:14:00,600
Speaker 4: Usually it's going to be an adult that's in the

1483
01:14:00,720 --> 01:14:02,880
Speaker 4: job that they don't want. They come to us and

1484
01:14:02,920 --> 01:14:05,679
Speaker 4: then we match them into something mostly a part time program,

1485
01:14:05,960 --> 01:14:08,000
Speaker 4: and they get a job like that. Lenise Powell is

1486
01:14:08,040 --> 01:14:11,200
Speaker 4: a very good example here in New York. She's in Brooklyn.

1487
01:14:12,560 --> 01:14:17,960
Speaker 4: She was a teacher, she's a mom. She she did

1488
01:14:18,120 --> 01:14:20,040
Speaker 4: she did go to college, but she didn't want to

1489
01:14:20,080 --> 01:14:21,720
Speaker 4: go back to college and she wanted to go to

1490
01:14:21,800 --> 01:14:25,120
Speaker 4: boot camp part time. She joined and then got a

1491
01:14:25,200 --> 01:14:27,000
Speaker 4: job making one hundred thousand that a company called news

1492
01:14:27,040 --> 01:14:28,439
Speaker 4: Allom and she's doing very well.

1493
01:14:29,840 --> 01:14:33,920
Speaker 3: So you see there's a course or the course is

1494
01:14:34,280 --> 01:14:35,080
Speaker 3: for the employer.

1495
01:14:35,920 --> 01:14:38,639
Speaker 4: It's a good question. So career KMMA is always free,

1496
01:14:39,200 --> 01:14:41,080
Speaker 4: so we will never charge anybody anything. If you want

1497
01:14:41,120 --> 01:14:43,160
Speaker 4: to go to school, there are free courses that are

1498
01:14:43,200 --> 01:14:46,280
Speaker 4: in career KOMMA. Think about the free courses kind of

1499
01:14:46,400 --> 01:14:50,320
Speaker 4: like going to the gym without a personal trainer and

1500
01:14:50,439 --> 01:14:53,439
Speaker 4: without a nutritionist and stuff like that. There's plenty of

1501
01:14:53,640 --> 01:14:56,439
Speaker 4: open things like that, but most people still need guidance

1502
01:14:56,640 --> 01:14:59,280
Speaker 4: and things like that. So most people will sign up

1503
01:14:59,320 --> 01:15:02,840
Speaker 4: to a book camp, and a boot camp is going

1504
01:15:02,960 --> 01:15:04,680
Speaker 4: to have that option that I told you where you

1505
01:15:04,760 --> 01:15:06,840
Speaker 4: don't have to pay anything unless you get a job.

1506
01:15:07,160 --> 01:15:08,599
Speaker 4: So a lot of people will do it, will sign

1507
01:15:08,720 --> 01:15:11,639
Speaker 4: up if they don't get a job, they don't pay anything.

1508
01:15:13,280 --> 01:15:15,240
Speaker 4: If you finish and you get a job that's in

1509
01:15:15,280 --> 01:15:16,760
Speaker 4: the range that you're going for, it's usually going to

1510
01:15:16,760 --> 01:15:18,240
Speaker 4: be in the seventy to one hundred and fifty thousand

1511
01:15:18,280 --> 01:15:21,400
Speaker 4: plus range, and then the tuition will range between ten

1512
01:15:21,479 --> 01:15:23,920
Speaker 4: and thirty thousand. So my brother is a good example.

1513
01:15:23,960 --> 01:15:26,360
Speaker 4: When he got his jobs one hundred fifty thousand, he

1514
01:15:26,479 --> 01:15:28,400
Speaker 4: paid out twenty six And that's how it works.

1515
01:15:28,960 --> 01:15:31,639
Speaker 3: Oh, the salary of this comes out of like your paycheck.

1516
01:15:31,680 --> 01:15:32,599
Speaker 4: It comes out of your salary.

1517
01:15:32,720 --> 01:15:33,840
Speaker 3: Yeah, until it's paid off.

1518
01:15:33,920 --> 01:15:39,040
Speaker 5: Until it's paid off. Yeah, pretty official. Okay, So who

1519
01:15:39,080 --> 01:15:42,439
Speaker 5: are some of the investors? Obviously you had a series

1520
01:15:42,640 --> 01:15:45,240
Speaker 5: of rounds and now we did the forty million. Who

1521
01:15:45,280 --> 01:15:48,040
Speaker 5: were some of the people that have invested into the company,

1522
01:15:48,600 --> 01:15:52,280
Speaker 5: And more importantly, why we didn't get a call? Who

1523
01:15:52,320 --> 01:15:54,080
Speaker 5: are the investors going forward?

1524
01:15:54,120 --> 01:15:56,000
Speaker 4: You guys will always get a call we was left

1525
01:15:56,040 --> 01:15:56,760
Speaker 4: We was left out.

1526
01:15:57,120 --> 01:16:00,599
Speaker 3: Its left out that after the next round, the next.

1527
01:16:00,520 --> 01:16:09,879
Speaker 4: Round, Google Ventures, initi last Capital Soft Bank, Bronze Kport.

1528
01:16:09,960 --> 01:16:13,360
Speaker 4: So we have over fifty investors. We actually put together

1529
01:16:13,560 --> 01:16:15,600
Speaker 4: we actually did something special this round where we were

1530
01:16:15,680 --> 01:16:19,920
Speaker 4: like put together video. Most of our investors are women

1531
01:16:20,000 --> 01:16:22,800
Speaker 4: and people of color, and it's one thing to like

1532
01:16:22,920 --> 01:16:25,360
Speaker 4: write that down, but it's another thing for you all

1533
01:16:25,479 --> 01:16:28,680
Speaker 4: to see it. So in December, I asked everybody to

1534
01:16:28,800 --> 01:16:33,519
Speaker 4: send short video clips about why they invested in Career

1535
01:16:33,600 --> 01:16:36,559
Speaker 4: Karma for reasons deeper than money. And you guys know Nana,

1536
01:16:36,840 --> 01:16:40,439
Speaker 4: so shout out. So Nana Little Yeah, but I think

1537
01:16:40,520 --> 01:16:42,200
Speaker 4: she told me about you too. Yeah, Nana did like

1538
01:16:42,240 --> 01:16:44,439
Speaker 4: all of our videos. So she took all the videos,

1539
01:16:44,960 --> 01:16:47,519
Speaker 4: chopped it up and put it together like a Super

1540
01:16:47,560 --> 01:16:49,840
Speaker 4: Bowl lab pretty much in this fire and like it

1541
01:16:49,960 --> 01:16:54,160
Speaker 4: took off. Baron Davis investors, So that that's right. So

1542
01:16:54,360 --> 01:16:55,479
Speaker 4: Baron Davis is an invest.

1543
01:16:55,280 --> 01:16:57,800
Speaker 5: Another person that didn't mention it. Okay, you did it up.

1544
01:16:59,040 --> 01:17:01,600
Speaker 4: Baron Davis is an invest to so Larry. There's a

1545
01:17:01,640 --> 01:17:06,479
Speaker 4: bunch of different athletes and angels, but it was very

1546
01:17:06,520 --> 01:17:08,760
Speaker 4: important for us to have people that look like us

1547
01:17:08,880 --> 01:17:11,120
Speaker 4: that are investing in the in the platform. John Henry,

1548
01:17:11,439 --> 01:17:12,519
Speaker 4: who you guys know.

1549
01:17:12,680 --> 01:17:18,080
Speaker 3: John Henry invested and confused. I'm confused. We wasn't involved

1550
01:17:18,120 --> 01:17:18,280
Speaker 3: in this.

1551
01:17:18,720 --> 01:17:23,040
Speaker 4: It's gonna happen, John, It would have been, it would.

1552
01:17:22,800 --> 01:17:29,360
Speaker 3: Have been a good look. He kept us out. Next time, Yeah,

1553
01:17:31,240 --> 01:17:33,559
Speaker 3: are you gonna raise any more money? Or yeah, how

1554
01:17:33,680 --> 01:17:36,519
Speaker 3: much more you think it'll be big?

1555
01:17:37,560 --> 01:17:38,639
Speaker 5: We don't miss the next.

1556
01:17:41,600 --> 01:17:43,240
Speaker 4: But we have time, like we have time like like

1557
01:17:43,680 --> 01:17:46,400
Speaker 4: with this money, like we have over three years a runway.

1558
01:17:46,240 --> 01:17:48,760
Speaker 3: So this money will last you three years at least.

1559
01:17:49,280 --> 01:17:51,360
Speaker 4: But I mean the last money also did too.

1560
01:17:51,720 --> 01:17:53,920
Speaker 3: You just never know, like what happens, you know, are

1561
01:17:53,960 --> 01:17:54,840
Speaker 3: you are you profitable?

1562
01:17:55,520 --> 01:17:56,000
Speaker 4: Not right now?

1563
01:17:56,280 --> 01:17:58,360
Speaker 3: So talk about that because that's something that people don't

1564
01:17:58,360 --> 01:18:01,719
Speaker 3: fully understand either, like a lot of these companies aren't

1565
01:18:01,760 --> 01:18:04,599
Speaker 3: profitable or even just became profitable, like even companies that's

1566
01:18:04,600 --> 01:18:07,920
Speaker 3: looking on the stock market, major companies that just might

1567
01:18:08,320 --> 01:18:11,960
Speaker 3: be probable. Yeah, and people don't fully understand it, like

1568
01:18:12,000 --> 01:18:14,599
Speaker 3: how could a company like over you know, at least

1569
01:18:14,600 --> 01:18:17,639
Speaker 3: a couple of years ago not be profitable when it's

1570
01:18:17,680 --> 01:18:19,680
Speaker 3: one of the biggest companies in the world. And these

1571
01:18:19,760 --> 01:18:22,560
Speaker 3: guys are billionaires and like, but talk about that, like

1572
01:18:22,760 --> 01:18:27,040
Speaker 3: how you don't necessarily have to be profitable. Yeah, talk

1573
01:18:27,040 --> 01:18:30,240
Speaker 3: about because, like I said, people don't understand that it's.

1574
01:18:30,120 --> 01:18:33,800
Speaker 4: Important for you to understand your path to profitability. Right,

1575
01:18:34,160 --> 01:18:37,120
Speaker 4: similar to like how we knew what we had to

1576
01:18:37,200 --> 01:18:39,080
Speaker 4: do in order to get profitable and we did it.

1577
01:18:40,000 --> 01:18:45,800
Speaker 4: And now that we have capital, revenue, and customers and

1578
01:18:46,280 --> 01:18:49,280
Speaker 4: workers coming to us, we can invest into our growth. So,

1579
01:18:49,439 --> 01:18:51,320
Speaker 4: going back to what I said at the beginning, the

1580
01:18:51,479 --> 01:18:54,960
Speaker 4: main difference between starts and everything else is growth. And

1581
01:18:55,320 --> 01:18:59,439
Speaker 4: these tech companies that you're seeing that are public or

1582
01:18:59,600 --> 01:19:03,840
Speaker 4: private are attacking legacy industries that have been around for

1583
01:19:04,000 --> 01:19:07,519
Speaker 4: hundreds of years, fifty years, blah blah blah. So the

1584
01:19:07,600 --> 01:19:10,400
Speaker 4: way to dominate is by moving faster than they can

1585
01:19:10,439 --> 01:19:14,080
Speaker 4: ever move, and that usually requires capital. And like some

1586
01:19:14,160 --> 01:19:16,679
Speaker 4: people will go from two hundred to one thousand people

1587
01:19:16,760 --> 01:19:19,960
Speaker 4: in a year, it's a lot in addition to executing

1588
01:19:20,000 --> 01:19:22,560
Speaker 4: and shipping products and doing all kinds of stuff. And

1589
01:19:22,720 --> 01:19:25,960
Speaker 4: so it really just depends on who's backing you so

1590
01:19:27,920 --> 01:19:32,280
Speaker 4: and whether you're actually solving the problem that you said

1591
01:19:32,439 --> 01:19:34,760
Speaker 4: that you are going to solve, and if you if

1592
01:19:34,760 --> 01:19:37,960
Speaker 4: you're demonstrating those things, and you're telling the right story

1593
01:19:38,080 --> 01:19:41,000
Speaker 4: and you're actually executing behind the story, you'll be able

1594
01:19:41,040 --> 01:19:42,760
Speaker 4: to raise it. You'll be able to raise the money

1595
01:19:42,800 --> 01:19:46,920
Speaker 4: that you need, or be able to stay relevant. What

1596
01:19:47,040 --> 01:19:57,160
Speaker 4: I'll say is it's very important to choose your investors wisely,

1597
01:19:58,080 --> 01:20:02,559
Speaker 4: because some people will cause you to grow too fast

1598
01:20:03,160 --> 01:20:09,559
Speaker 4: to where you run yourself into the ground. So we've

1599
01:20:10,080 --> 01:20:12,760
Speaker 4: been blessed to where you know, I don't have no

1600
01:20:12,880 --> 01:20:16,280
Speaker 4: problem none of our board members, none of our investors, period.

1601
01:20:16,320 --> 01:20:20,000
Speaker 4: They all got our back, and they definitely pushed us,

1602
01:20:20,080 --> 01:20:22,920
Speaker 4: and they ask us questions and they hold us accountable,

1603
01:20:23,560 --> 01:20:26,880
Speaker 4: but they don't force us to like run ourselves into

1604
01:20:26,920 --> 01:20:29,560
Speaker 4: the ground. And so I say that just because like

1605
01:20:30,560 --> 01:20:33,240
Speaker 4: there are strings to capital that are good.

1606
01:20:33,280 --> 01:20:38,120
Speaker 5: In Bed, you spoke about board members, and so most

1607
01:20:38,160 --> 01:20:39,840
Speaker 5: people we probably I don't think we've ever had that

1608
01:20:39,920 --> 01:20:42,760
Speaker 5: conversation the process of actually choosing them and actually the

1609
01:20:42,840 --> 01:20:45,360
Speaker 5: power that they have. Like people probably watch Succession or

1610
01:20:45,439 --> 01:20:47,320
Speaker 5: Billions and they're like, oh, that's the board they're gonna

1611
01:20:47,320 --> 01:20:50,160
Speaker 5: they're gonna vote them out. What's that process like and

1612
01:20:50,439 --> 01:20:53,599
Speaker 5: choosing them, because you're actually choosing the people. Correct, Yes, Second,

1613
01:20:53,640 --> 01:20:57,719
Speaker 5: and ultimately through the board can fire you. The board

1614
01:20:57,760 --> 01:20:58,320
Speaker 5: can fire you.

1615
01:21:00,680 --> 01:21:04,360
Speaker 4: Whenever you're raising money, you want to be mindful of economics,

1616
01:21:04,400 --> 01:21:07,000
Speaker 4: which we talked about a little bit on valuation and dilution,

1617
01:21:07,160 --> 01:21:11,080
Speaker 4: but also control. And the control is like board. If

1618
01:21:11,120 --> 01:21:15,040
Speaker 4: you lose control of board, you lose everything. We didn't

1619
01:21:15,080 --> 01:21:18,040
Speaker 4: have a board until our Series A, which I don't

1620
01:21:18,040 --> 01:21:21,280
Speaker 4: think anybody really needs a board, and so there because

1621
01:21:21,360 --> 01:21:23,160
Speaker 4: now you're actually really making money and you need that

1622
01:21:23,200 --> 01:21:25,760
Speaker 4: type of guidance. Think about let's talk about the good

1623
01:21:25,800 --> 01:21:27,599
Speaker 4: parts of a board. The good parts of a board

1624
01:21:27,720 --> 01:21:29,439
Speaker 4: is like you want to have people on your board

1625
01:21:29,960 --> 01:21:31,920
Speaker 4: that you would never be able to hire that can

1626
01:21:32,000 --> 01:21:37,040
Speaker 4: help you. So for example, Gary Tan he runs in

1627
01:21:37,080 --> 01:21:40,040
Speaker 4: Initial Last Capital that's an over two hundred million dollar portfolio.

1628
01:21:40,760 --> 01:21:44,200
Speaker 4: It includes Instacar and Rippling. He was first checking coinbase,

1629
01:21:44,360 --> 01:21:50,080
Speaker 4: for example, one hundred billion dollar outcome, and he really

1630
01:21:50,200 --> 01:21:53,080
Speaker 4: has seen this many many times before and he's able

1631
01:21:53,120 --> 01:21:55,080
Speaker 4: to guide us on what we got to do. One

1632
01:21:55,120 --> 01:21:58,679
Speaker 4: of his LPs Topped Your Capital Partners, which is people

1633
01:21:58,720 --> 01:22:01,680
Speaker 4: that give him money to start fun They invested in

1634
01:22:01,760 --> 01:22:04,000
Speaker 4: our Series B around so they've seen not only what

1635
01:22:04,120 --> 01:22:07,000
Speaker 4: he's seen, but also from investing in other companies they're

1636
01:22:07,040 --> 01:22:10,800
Speaker 4: able to give you that OG knowledge. I think wild

1637
01:22:10,840 --> 01:22:13,360
Speaker 4: love from million dollars worth of game, he said, or

1638
01:22:13,400 --> 01:22:16,840
Speaker 4: Gilly one of them said, and OG is someone that

1639
01:22:16,960 --> 01:22:19,720
Speaker 4: offers you game, right, So you want people that are

1640
01:22:19,880 --> 01:22:24,280
Speaker 4: offering you game and giving you guidance and keeping you focused,

1641
01:22:24,280 --> 01:22:27,080
Speaker 4: because what happens when you start winning is you get

1642
01:22:27,600 --> 01:22:30,160
Speaker 4: all kinds of opportunities that are presented to you, and

1643
01:22:30,280 --> 01:22:33,400
Speaker 4: you can do all kinds of things. And it's up

1644
01:22:33,439 --> 01:22:36,040
Speaker 4: to you to decide whether you want to stay focused

1645
01:22:36,080 --> 01:22:39,040
Speaker 4: on your path or get distracted. And ultimately, most of

1646
01:22:39,120 --> 01:22:40,960
Speaker 4: the time, the right decision is to stay focused on

1647
01:22:41,040 --> 01:22:44,840
Speaker 4: what you're currently doing because of compounds.

1648
01:22:45,320 --> 01:22:48,400
Speaker 3: There you have it, ladies and gentlemen. Thank you guys

1649
01:22:48,560 --> 01:22:53,200
Speaker 3: quoting it a classic man exactly, very informative episode. What

1650
01:22:53,280 --> 01:22:56,040
Speaker 3: would you like to tell the people like, you know,

1651
01:22:56,200 --> 01:22:58,760
Speaker 3: social media, what you have going on that they can

1652
01:22:58,800 --> 01:23:02,439
Speaker 3: look forward to. How they can you know, enroll into

1653
01:23:02,520 --> 01:23:04,280
Speaker 3: the credit car program? Yeah?

1654
01:23:04,400 --> 01:23:05,920
Speaker 4: Yeah, So if you guys want to sign up to

1655
01:23:05,920 --> 01:23:07,360
Speaker 4: Career Comers, go to Career Comer.

1656
01:23:08,160 --> 01:23:08,599
Speaker 3: It's all good.

1657
01:23:08,720 --> 01:23:10,200
Speaker 4: If you guys want to go to Career Comma, if

1658
01:23:10,240 --> 01:23:11,600
Speaker 4: you guys want to get a job in tech. Go

1659
01:23:11,680 --> 01:23:16,240
Speaker 4: to careercoma dot com slash apply download the app. If

1660
01:23:16,280 --> 01:23:18,799
Speaker 4: you want to speak with someone because you're a little nervous,

1661
01:23:19,160 --> 01:23:21,840
Speaker 4: just go to career coming dot com slash events. We

1662
01:23:21,960 --> 01:23:25,400
Speaker 4: have a big event going on today. If you want

1663
01:23:25,439 --> 01:23:27,800
Speaker 4: to send me an email, it's just Ruben rub In

1664
01:23:28,000 --> 01:23:32,160
Speaker 4: at careercom dot com. I'm on Twitter and Instagram, Rubin Harris.

1665
01:23:32,320 --> 01:23:34,000
Speaker 4: Are you b n H A R R R s.

1666
01:23:34,600 --> 01:23:36,720
Speaker 4: Pay attention to what these guys are doing, especially e

1667
01:23:36,880 --> 01:23:38,920
Speaker 4: y L University. I'm actually very excited about what you

1668
01:23:38,960 --> 01:23:41,360
Speaker 4: guys are doing there. The reason why is because you know,

1669
01:23:41,400 --> 01:23:43,479
Speaker 4: it's not just boot camps that are teaching. It's not

1670
01:23:43,560 --> 01:23:46,320
Speaker 4: just corporations that are teaching. It's not just colleges and

1671
01:23:46,360 --> 01:23:51,320
Speaker 4: posting that's that's teaching. It's individuals that are teaching. You

1672
01:23:51,439 --> 01:23:53,720
Speaker 4: guys are using a platform for it. There's a guy

1673
01:23:53,800 --> 01:23:56,240
Speaker 4: like Lenny Ratchinskis that's growing. There's a really good article

1674
01:23:56,280 --> 01:23:58,920
Speaker 4: that came out in the Wall Street Journal about teachers

1675
01:23:58,960 --> 01:24:00,880
Speaker 4: in career that are making or four million of years

1676
01:24:01,000 --> 01:24:03,400
Speaker 4: just by teaching. I think the biggest educator will be

1677
01:24:03,560 --> 01:24:07,320
Speaker 4: the individual, and this whole podcast is an education platform.

1678
01:24:07,439 --> 01:24:10,720
Speaker 4: So make sure you hit subscribe tapping. We also have

1679
01:24:10,760 --> 01:24:12,760
Speaker 4: a podcast called Breaking the Startups that has a lot

1680
01:24:12,840 --> 01:24:16,519
Speaker 4: of stories that you alhould check out. And that's it,

1681
01:24:17,000 --> 01:24:19,519
Speaker 4: and we'll be part of you guys. We'll do some

1682
01:24:19,600 --> 01:24:22,080
Speaker 4: collaborative in personal events. We're talking about it right now,

1683
01:24:22,160 --> 01:24:23,000
Speaker 4: so stay tuned for that.

1684
01:24:23,520 --> 01:24:28,320
Speaker 5: Stay tuned, stay tuned. Yes, Troy House, Yeah, well, shout

1685
01:24:28,360 --> 01:24:31,160
Speaker 5: out to the Alan and Jamaica. Shoutut to Alan Cuba,

1686
01:24:31,360 --> 01:24:34,040
Speaker 5: Yes as well. I know you, Yes, sir, I always

1687
01:24:34,080 --> 01:24:35,840
Speaker 5: got a show. Love to the fan. Yes, and shout

1688
01:24:35,920 --> 01:24:38,040
Speaker 5: to everybody that's part of the ey L University. Shout

1689
01:24:38,080 --> 01:24:40,759
Speaker 5: to all our Patreon members. We got over twelve thousand

1690
01:24:40,760 --> 01:24:44,479
Speaker 5: people in eyl University. That's big, that's big, that's a movement,

1691
01:24:44,600 --> 01:24:46,280
Speaker 5: something we're really proud of. So shout out to all

1692
01:24:46,320 --> 01:24:48,960
Speaker 5: our earners and shout to everybody that's supporting the merch.

1693
01:24:49,520 --> 01:24:50,599
Speaker 5: We got new something on the way.

1694
01:24:50,720 --> 01:24:52,240
Speaker 4: So about the cops on right now.

1695
01:24:52,160 --> 01:24:54,160
Speaker 5: I don't worry about it. Man, Your alumni now send

1696
01:24:54,200 --> 01:24:57,920
Speaker 5: your care packs. So we appreciate you all.

1697
01:24:58,000 --> 01:24:59,760
Speaker 4: Love us, love, love us, love all.

1698
01:24:59,760 --> 01:25:01,840
Speaker 3: Right, thank you for rocking us. To see you next week.

1699
01:25:02,040 --> 01:25:03,879
Speaker 4: Peace, peace out.

1700
01:25:05,960 --> 01:25:06,599
Speaker 3: My graduates.

1701
01:25:06,640 --> 01:25:11,960
Speaker 2: From my school being force back drop bag drop Mike

1702
01:25:12,080 --> 01:25:14,560
Speaker 2: drotagdrop droft.

1703
01:25:24,680 --> 01:25:28,320
Speaker 6: An illegal alien from Guatemala charged with raping a child

1704
01:25:28,400 --> 01:25:32,160
Speaker 6: in Massachusetts. An MS thirteen gang member from Al Salvador

1705
01:25:32,439 --> 01:25:36,519
Speaker 6: accused of murdering a Texas. Man of Venezuelan charged with

1706
01:25:36,640 --> 01:25:40,479
Speaker 6: filming and selling child pornography in Michigan. These are just

1707
01:25:40,640 --> 01:25:44,360
Speaker 6: some of the heinous migrant criminals caught because of President

1708
01:25:44,439 --> 01:25:47,960
Speaker 6: Donald J. Trump's leadership. I'm Christy Noman, the United States

1709
01:25:48,000 --> 01:25:52,799
Speaker 6: Secretary of Homeland Security. Under President Trump, attempted illegal border

1710
01:25:52,840 --> 01:25:56,360
Speaker 6: crossings are at the lowest levels ever recorded, and over

1711
01:25:56,479 --> 01:25:59,600
Speaker 6: one hundred thousand illegal aliens have been arrested. If you

1712
01:25:59,720 --> 01:26:03,559
Speaker 6: were here illegally, your next you will be fine nearly

1713
01:26:03,680 --> 01:26:07,639
Speaker 6: one thousand dollars a day, imprisoned and deported, you will

1714
01:26:07,760 --> 01:26:11,360
Speaker 6: never return. But if you register using our CBP home

1715
01:26:11,439 --> 01:26:14,759
Speaker 6: app and leave now, you could be allowed to return legally.

1716
01:26:15,200 --> 01:26:19,840
Speaker 6: Do what's right, leave now. Under President Trump, America's laws,

1717
01:26:20,080 --> 01:26:22,000
Speaker 6: border and families.

1718
01:26:21,720 --> 01:26:24,080
Speaker 5: Will be protected. Sponsored by the United States Department of

1719
01:26:24,120 --> 01:26:24,719
Speaker 5: Homeland Security,