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Speaker 2: And so I tell people all the time, do you

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Speaker 2: want a million followers or do you want a million

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Speaker 2: dollars a million follow I know people with five, ten,

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Speaker 2: fifteen million followers broke can't even pay their bills, but

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Speaker 2: fifty thousand people paying you two dollars a month is

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Speaker 2: one hundred grand a month, one point two million dollars

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Speaker 2: a year. I know y'all heard about bad Baby, catch

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Speaker 2: me outside. She made fifty five million dollars off OnlyFans, right,

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Speaker 2: I said, she made fifty five million dollars off one

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Speaker 2: hundred and sixty pieces of content. The next thing I

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Speaker 2: did is I went to her Instagram page and there

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Speaker 2: was no content on the page.

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Speaker 3: It was like six posts. But I was like, see.

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Speaker 2: I was like, she hit all her content because she

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Speaker 2: knows she makes Instagram. Instagram doesn't make her. She's like,

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Speaker 2: I have sixteen million followers. This serves me no purpose

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Speaker 2: at all. So she archived all her content and she

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Speaker 2: put a link tree and said you can stream my song,

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Speaker 2: watch my music video, and come to my only fans.

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Speaker 2: Because what is this sixteen million people doing for me.

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Speaker 2: It's doing nothing. It's just a vanity number. It means

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Speaker 2: absolutely no. What is good as having sixteen million follows

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Speaker 2: so you can't use them?

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Speaker 4: My graduates from my school being forced back drop drop

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Speaker 4: drop back drop.

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Speaker 5: All right, guys, welcome back, e y l South.

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Speaker 6: This is gonna be a legendary episode, something that the

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Speaker 6: public has asked for and something that we've been in

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Speaker 6: communication for a long time.

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Speaker 5: A lot of people they they lack patients. They're like,

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Speaker 5: why don't you get fan based on I'm like, what

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Speaker 5: we keep talking about. It's down. We are for the culture.

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Speaker 5: Everything just has to happen in the right time.

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Speaker 6: But you did do our guys ask cash is shows

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Speaker 6: inside the whole, shout inside the vote.

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Speaker 5: So Isaac Hayes the third.

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Speaker 6: Legendary situation fandis this is something that if you're not

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Speaker 6: familiar with it, we're gonna I'm gonna let you explain

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Speaker 6: it because I don't want to do it any disservice.

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Speaker 6: But it's a social media app that's designed for monetization.

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Speaker 3: Yeah right, yeah, absolutely, And.

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Speaker 6: It works similar to like a lot of the other

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Speaker 6: social media apps where you can like interact with your photo,

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Speaker 6: video stories, live live short form audio chat, audio chat.

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Speaker 6: So it's like a combination of a lot of different

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Speaker 6: social media.

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Speaker 2: Apps, every media vertical you can think of subscription service

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Speaker 2: in one.

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Speaker 3: Yeah.

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Speaker 5: So we're gonna have no conversation.

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Speaker 6: We're gonna talk about the process, your thought process that

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Speaker 6: even developing the app, of course, raising money for the app,

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Speaker 6: marketing the app, the business model where do you see

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Speaker 6: it going?

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Speaker 2: You know, the whole the whole gambit. But first and fall,

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Speaker 2: thank you for joining us, appreciate it, Thank you guys

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Speaker 2: for having me. This is like my favorite interview before

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Speaker 2: it starts, my favorite before it's like everybody like, but

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Speaker 2: I told people I was coming in there, like I

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Speaker 2: want to come. I love those guys, you understand, like

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Speaker 2: I watched earlierly, so this is the one showed that

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Speaker 2: everybody I know watch it.

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Speaker 7: So they got to make sure that they watched this one.

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Speaker 3: Absolutely the Holy g of financial absolutely.

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Speaker 5: So all right, So where does it start?

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Speaker 6: Obviously, if you didn't catch it by his name, his

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Speaker 6: dad is Isaac Hayes, legendary vocalists and performer. So where

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Speaker 6: did this start with you? You never wanted to go

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Speaker 6: into music and followed your dad's footsteps. What made you

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Speaker 6: wanted to be an entrepreneur in text based?

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Speaker 2: So I was a producer, like I started producing in

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Speaker 2: ninety nine, and then I decided that I wanted to

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Speaker 2: license my music, and so I started licensing my music

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Speaker 2: for television and film and did that for like ten

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Speaker 2: or fifteen years. And after my dad passed, somebody my

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Speaker 2: family wanted someone to run the estate, and so my

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Speaker 2: family named me the manager of his estate.

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Speaker 3: So I had been managing his estate.

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Speaker 2: But while simultaneously, you know, like I said, A simultaneously

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Speaker 2: licensing my music for TV and film. The idea to

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Speaker 2: develop an app came out of left field, came out.

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Speaker 2: It came from It came from my connection to Memphis, Tennessee.

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Speaker 2: So I was born in Memphis, left Memphis at an

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Speaker 2: early age and moved to Atlanta. But just me being

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Speaker 2: on social media all the time, this young kid went

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Speaker 2: viral for dancing in a Spider Man costume and a

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Speaker 2: game stopping. He was from Memphis, and I just sent

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Speaker 2: him a text message like a DM said congrats young

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Speaker 2: Memphis and he immediately hit me back, was like, are

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Speaker 2: you a manager? And I was like, well, I manage

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Speaker 2: my dad to stay. He goes, I need a manager.

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Speaker 2: I really need a manager. And this is back and

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Speaker 2: forth of bus Well year was this twenty eighteen? It

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Speaker 2: was Instagram. Yeah, sent him an Instagram DM. I'm saving Instagram.

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Speaker 2: I'm saving the DM. So when this is the largest

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Speaker 2: tech company in the world, I just people don't know

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Speaker 2: that this is the moment that I came up with

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Speaker 2: the idea.

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Speaker 3: So it was March twenty eighteen.

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Speaker 2: So anyway, I left that conversation like, Yo, this kid

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Speaker 2: is like he don't know how to.

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Speaker 3: Make no money and he doesn't own Spider Man.

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Speaker 2: And whenever Marvel and Disney want to shut down him

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Speaker 2: monetizing their property, they can.

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Speaker 3: But people need to learn. People need to be able.

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Speaker 2: To subscribe to him like you subscribe to like Netflix,

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Speaker 2: and learn how to dance like him. If he wants

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Speaker 2: to teach people to dances, he does, and charge people

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Speaker 2: for those dances.

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Speaker 3: And so that's when I was like, yo, we need that.

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Speaker 2: And it was like and then only Fans was out

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Speaker 2: at the same time, and I remember only fans, Yeah, legendary,

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Speaker 2: and so I remember seeing I remember saying like, yo,

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Speaker 2: when the strippers find out about this one?

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Speaker 5: Oh so you you was on it before it became

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Speaker 5: what it became.

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Speaker 2: Yeah, no, because because I because one of the things

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Speaker 2: that I did, the first things I did when I

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Speaker 2: thought of the name fan base, I trademarked it.

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Speaker 3: So I hadn't built anything.

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Speaker 2: I trademarked the name fan base in the in the

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Speaker 2: form of an application that's downloaded with software for subscription

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Speaker 2: based whatever.

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Speaker 8: Very important Yeah, the details on how you trademarkets very important.

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Speaker 5: Yeah.

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Speaker 2: So yeah, you got to get the class and the

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Speaker 2: territory and I did all that so because I don't

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Speaker 2: ever want to take an idea to fruition and then

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Speaker 2: not be able to fully execute it because a lot

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Speaker 2: of people, you know, rappers have a name, can't use

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Speaker 2: a name, right, somebody have a product, can't use the product.

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Speaker 2: So I just know that from music like trademarket first

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Speaker 2: and so then after trademarking the name, I just went

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Speaker 2: ahead and like I said, was figuring out like only Fans,

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Speaker 2: like all the other platforms out here that kind of

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Speaker 2: did it. I was aware of Patreon. Patreon only Fans

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Speaker 2: were the only two that I heard of. A matter

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Speaker 2: of fact, Only Fans was called fans only. So I

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Speaker 2: was like, okay, cool, and then I just knew that.

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Speaker 2: But I said, we got to build something that's just

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Speaker 2: straightforward for the community of people that are going to

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Speaker 2: be able to monetize the content in the future.

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Speaker 3: Yeah.

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Speaker 8: So, I mean creating a tough company obviously takes capital,

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Speaker 8: and he did something very brilliant. Never signed a publishing

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Speaker 8: deal when you were producing, right, and so you were

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Speaker 8: able to license. The content that you were making was

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Speaker 8: born in jail. So is that the basis or the

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Speaker 8: foundation of where you got capital to create it?

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Speaker 2: Yes, okay, And so being a pre do so I

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Speaker 2: never did a public deal because my dad had terrible

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Speaker 2: relationships with publishers. So I was able to go to

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Speaker 2: my pro which are like being my ass cap, the

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Speaker 2: performing rights people that collect your money and ask for

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Speaker 2: a loan. And I asked for a loan of like

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Speaker 2: one hundred thousand, and I got another one hundred thousand.

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Speaker 2: I just I could pull from it whenever I wanted to.

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Speaker 2: And that's the thing mailbox money is like, you know,

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Speaker 2: I say, you got to make money while you sleep.

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Speaker 3: So that was a cool thing about me.

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Speaker 2: It's like I'm watching Real Housewives and married to medicine

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Speaker 2: and loving hip hop and my beats and playing NBAT

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Speaker 2: be the All Star Game, Like I would hear my

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Speaker 2: music all the time, and I just go to the

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Speaker 2: mailbox and be a check for you know, twenty thousand whatever,

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Speaker 2: fifty thousand, you know, every quarter. So I'm like, okay, cool.

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Speaker 2: So when I came up with the idea, I was like, well,

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Speaker 2: let me just pull from this. I'm you know, when

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Speaker 2: I started managing my dad's the state, I said, just

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Speaker 2: take care of my expenses. I don't want to take

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Speaker 2: no salary. So I just had capital to be able

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Speaker 2: to build that.

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Speaker 5: So talk about the loan. How did that work?

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Speaker 6: So you took a loan from the record companies and

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Speaker 6: then they recouped.

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Speaker 2: That from my pr Yeah, they recoup it from from

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Speaker 2: what's paid so as ay.

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Speaker 3: So it's it's not like a year.

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Speaker 2: You probably get paid like a year after, like nine

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Speaker 2: months after something airs. So whenever your song is played

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Speaker 2: on the radio or it is on a television show

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Speaker 2: or a movie, about nine months after it airs is

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Speaker 2: when you actually get the money for it.

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Speaker 5: That's like it's out the ghost face. He said. Waiting

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Speaker 5: on these royalties take too long. It's like waiting on babies.

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Speaker 2: It's like, yeah, so that's when you So when you

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Speaker 2: when your joint hit, you know, you got nine months

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Speaker 2: before you get the check. So that's a long it's

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Speaker 2: a long gap. So yeah, I was able to just

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Speaker 2: you know, take in advance.

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Speaker 5: And then they charge like a percentage.

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Speaker 2: Of no, because it's not it's not a publishing deal.

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Speaker 2: It's just the money I was gonna get paid anyway.

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Speaker 2: It's just they just keep collecting it till it comes back.

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Speaker 2: So you spoke about your dad's a state. That's I

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Speaker 2: mean that's pretty expensive catalog, Yes, especially in music. I

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Speaker 2: know he did voiceovers even in.

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Speaker 8: South Park, right, it's so so like, I mean, you're

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Speaker 8: into music at the time, but managing the state is

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Speaker 8: a totally different thing.

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Speaker 7: So where did you like figure out the skills to

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Speaker 7: manage that.

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Speaker 2: So most of it, most of managing the state revolves

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Speaker 2: or my dad to say, will revolve around publishing and

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Speaker 2: masters and so I've been doing that. So it's like

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Speaker 2: you want to license his name it was in likeness

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Speaker 2: or a song or anything like that. That's that's very,

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Speaker 2: very simple. So it wasn't a hard thing to do.

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Speaker 2: The only thing the only hard thing to do is

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Speaker 2: probably is expand the brand, and you need relationships to

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Speaker 2: do that. But I also have and my family has

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Speaker 2: hated me for this for a long time because I

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Speaker 2: told him it's going to take a long time for

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Speaker 2: us to be in position because as a songwriter, you know,

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Speaker 2: my dad's copyrights have been owned by other people, just

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Speaker 2: for the for the way that publishing deals were done

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Speaker 2: in his era. So when you wrote a song in

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Speaker 2: my dad's era, the publisher would actually have ownership of

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Speaker 2: the copyright for fifty six years. So then so even

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Speaker 2: my dad never got to see his copyrights back returning

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Speaker 2: his lifetime. So the songs that he wrote in nineteen

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Speaker 2: sixty three just started coming back a couple of years ago.

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Speaker 2: And so one of the biggest songs that he ever

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Speaker 2: wrote before even became an artist, as a song by

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Speaker 2: Sam and Day call hold On I'm Coming. So I

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Speaker 2: know people hear that dum.

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Speaker 7: Du hold I'm coming.

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Speaker 2: So he wrote that song. So we wrote, yeah, him

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Speaker 2: and David Porter. So we just got that song back

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Speaker 2: like last month. And even since we did that, like

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Speaker 2: it's already like licenses coming in. But think about like

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Speaker 2: how many how much money has been made off that record,

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Speaker 2: and then think of all this sampling and all that stuff.

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Speaker 3: So again, yeah, I.

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Speaker 8: Feel like once I heard that, you made me think

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Speaker 8: of Malcolm Nuts in the movie, like when he's at

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Speaker 8: the whole.

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Speaker 3: That's the song that's playing everything. And listen, there was crazy.

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Speaker 2: There were songs they used, they used hold on them

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Speaker 2: And this is the crazy thing because the publishers are

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Speaker 2: trying to get us to do new deals, and I'm

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Speaker 2: like the numbers that they were sending us. Was like, na, man,

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Speaker 2: there's there's no way you can offer us this. If

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Speaker 2: I say they offered us like two million, right, I

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Speaker 2: was liked. I just heard this song on an oil

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Speaker 2: cookie commercial for Christmas.

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Speaker 3: They played it.

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Speaker 2: When the Lakers won the championship, they played it. They

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Speaker 2: had a Toyota truck commercial. It's a bunch of different,

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Speaker 2: you know, different commercials that I hear in it. That's publishing,

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Speaker 2: so it doesn't matter who does the song. So I

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Speaker 2: was like, Nah, y'all not feeling Offersta and we have.

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Speaker 2: We haven't even gotten to his artist catalog where even

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Speaker 2: in his songwriting catalog, everybody is sampled. My dad, like

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Speaker 2: I always say, James Brown is the most sampled artists

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Speaker 2: of all time, right, but Isaac Hayes, there's not a

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Speaker 2: Every iconic rapper has an Isaac's song that you know

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Speaker 2: that's an Isaaca sample. And I'd be like, so Warning

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Speaker 2: by Biggie is Isaac's Can I Live by Jay z As,

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Speaker 2: Isaac Kay's Creamed by Wu Tang Clan is Isaaca's Me

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Speaker 2: Against the World by Tupac is Isaacay's Shimmy Shimmy y'ah.

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Speaker 2: A bout old dirty Bastard is Isaac's explosive by Doctor

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Speaker 2: Dre is Isaac's. So it's like you can't think of one,

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Speaker 2: Like there's not any of the icons, right, you know

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Speaker 2: what I'm saying classic, Let's.

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Speaker 9: Just right the sample or the lyric, the sample, the musical.

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Speaker 9: So he produced the record, He wrote and produced. He wrote, Yeah,

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Speaker 9: the writer and producer and artist.

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Speaker 2: So he was a songwriter first and then he became

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Speaker 2: an artist because Otis Redding died and then Sam and

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Speaker 2: Dave got they got taken back. They were on loan

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Speaker 2: from Atlantic and it was a bad deal with Stacks,

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Speaker 2: so they had no artists, so they had to rebuild

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Speaker 2: their catalog and they asked everybody to do an album.

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Speaker 2: They had like twenty nine. They had twenty eight artists

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Speaker 2: and they needed twenty nine. It's called the Soul Explosion,

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Speaker 2: and they said we need you to do an album

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Speaker 2: and he was like, okay, but y'all did an album

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Speaker 2: on we before and it was some bullshit. So if

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Speaker 2: I do an album this time, you got to let

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Speaker 2: me do it the way I want to do it.

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Speaker 3: And that album was Hot Buttered Soul.

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Speaker 2: So that's the album where you know he did walk

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Speaker 2: on By and it's like the first time you ever

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Speaker 2: heard like soul artists and orchestra's merge or organs and

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Speaker 2: bass and all that stuff together with orchestras and stuff.

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Speaker 3: So like that.

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Speaker 2: He even had to go to Detroit to record the

305
00:13:59,000 --> 00:14:00,960
Speaker 2: strings because there were no people that can play strings

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00:14:00,960 --> 00:14:04,160
Speaker 2: in Memphis. So imagine going to like Motown to put

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00:14:04,160 --> 00:14:06,360
Speaker 2: your sound with they sound and come back. And really,

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Speaker 2: I always state my dad is the inventor of modern

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Speaker 2: day R and B because you can't imagine R and

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Speaker 2: B without flutes and strings.

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Speaker 3: And you think of marriag jr. Blige when you think

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Speaker 3: of like.

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Speaker 2: Mask off by Future or whatever when you hear flutes

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Speaker 2: and hip hop is like Isaca is the first person

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Speaker 2: to put flutes and strings on top of like organs

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Speaker 2: and gritty guitars and stuff like that.

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Speaker 8: So when the publisher companies are coming at you now,

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Speaker 8: are they now trying to renew the deals? Obviously fifty

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Speaker 8: six years not gonna happen in this dayage, but are

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Speaker 8: they doing like short term leases on the content is.

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Speaker 2: Five years ironically, and this will go this, This will

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Speaker 2: transition a lot into tech. What they're doing now, they're

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Speaker 2: trying to buy catalogs, and I know you hear all

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Speaker 2: the time people are buying catalogs, right, And I'm like,

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Speaker 2: why these people selling their catalogs? It doesn't make sense

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Speaker 2: to me because I understand the value of the music.

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Speaker 2: And so I tell I think about this, and I say, well,

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Speaker 2: how many people on Earth have a smartphone? And it's

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Speaker 2: like six point three billion people with smartphones? Right, And

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Speaker 2: I'll ask you, guys, this question aize people all the time. So,

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Speaker 2: of six point three billion people on smartphones, how many

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Speaker 2: people do you think have music streaming services on their phone?

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Speaker 2: Like Apple Music, Spotify and Title in the millions or billions?

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Speaker 2: How many people would you think of six point three

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Speaker 2: business this point three? I say four billion? Cool, what

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Speaker 2: do you think?

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Speaker 5: Three billion?

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Speaker 2: Okay, no, it's five hundred twenty five million people. It's

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00:15:29,800 --> 00:15:32,320
Speaker 2: so it's left so seven percent of the available market

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Speaker 2: of people that could have a music streaming service on

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Speaker 2: their phone have it. So in my mind, I'm like

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Speaker 2: they said, by twenty thirty, it'll be like a billion

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Speaker 2: people on streaming services. So in the next eight years,

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Speaker 2: the streaming revenue is gonna double or triple, So why

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Speaker 2: are you I wouldn't sell shit? And it's the same

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00:15:48,720 --> 00:15:50,920
Speaker 2: thing for Netflix. It's only two hundred and twenty two

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Speaker 2: million people that have Netflix out of six point three

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Speaker 2: billion people with the device that could have Netflix on it.

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Speaker 2: So I'm like, oh, content is gonna be like the thing.

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Speaker 2: And so when I talk about when I mentioned the

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Speaker 2: fan base, the reason why I think that's important because

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00:16:05,200 --> 00:16:07,800
Speaker 2: I believe that person to person subscription is going to

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Speaker 2: outpace platforms like Netflix because anybody that I know has Netflix.

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Speaker 2: They watch a Netflix or a Hulu for one or

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00:16:16,840 --> 00:16:19,400
Speaker 2: two shows, but there's like thousands of pieces of content

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Speaker 2: on there. So in the future, why wouldn't I just

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Speaker 2: subscribe directly to the brand or the person that I

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Speaker 2: really like their content from as opposed to paying this

359
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Speaker 2: twenty five twenty dollars a month with commercials too shows

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00:16:30,600 --> 00:16:32,400
Speaker 2: for stuff that I don't really like. But if I

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Speaker 2: really rock with like you know, Cardi B, then I'll

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00:16:35,360 --> 00:16:37,800
Speaker 2: just subscribe to her. If I really rock with this

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00:16:37,840 --> 00:16:40,240
Speaker 2: particular brand, and I'll subscribe directly to them or that

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00:16:40,280 --> 00:16:43,280
Speaker 2: person or you guys like you guys just like okay,

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00:16:43,320 --> 00:16:45,640
Speaker 2: then I'll just subscribe directly to y'all, and you guys

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Speaker 2: get all the revenue. You own the content, and you

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Speaker 2: make the and you call the shots.

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394
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Speaker 6: So, all right, so let's get into this conversation off

395
00:18:16,359 --> 00:18:19,439
Speaker 6: fan base. What's the first steps that you took to

396
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Speaker 6: get the company off the ground and how much money

397
00:18:22,320 --> 00:18:24,480
Speaker 6: was it actually to actually get the company off the ground.

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Speaker 5: So do you don't have a tech background? Right?

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00:18:26,560 --> 00:18:26,600
Speaker 7: No?

400
00:18:26,920 --> 00:18:27,240
Speaker 5: All right?

401
00:18:27,280 --> 00:18:29,800
Speaker 6: So you have an idea, but you don't necessarily know

402
00:18:29,880 --> 00:18:31,840
Speaker 6: how to actually go about it. So what's the first

403
00:18:31,840 --> 00:18:34,400
Speaker 6: thing that you did to actually get an app? Because

404
00:18:34,440 --> 00:18:36,520
Speaker 6: a lot of people have ideas about app they don't

405
00:18:36,520 --> 00:18:37,480
Speaker 6: even know how to go about it.

406
00:18:37,840 --> 00:18:43,280
Speaker 2: Well, I mean, I think I educated myself through mentors.

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00:18:43,800 --> 00:18:48,320
Speaker 2: So there's my three mentors and tech immediately, Joel Berk's

408
00:18:48,480 --> 00:18:51,639
Speaker 2: Barry Gibbings and Justin Dawkins, and so the three of

409
00:18:51,680 --> 00:18:54,440
Speaker 2: them have a company called Collapse Capital. So Jewel Berks

410
00:18:54,440 --> 00:18:56,280
Speaker 2: had a company called part Pick that she saw the

411
00:18:56,280 --> 00:19:00,520
Speaker 2: Amazon and exited. And Barry Gibbons had a vent a startup,

412
00:19:00,560 --> 00:19:03,280
Speaker 2: a tech startup, and Justin is their partner, and they

413
00:19:03,280 --> 00:19:06,640
Speaker 2: have a company called Collab Capital where they invest in people.

414
00:19:06,680 --> 00:19:08,240
Speaker 2: So I went to them and I met them at

415
00:19:08,400 --> 00:19:11,960
Speaker 2: the gathering spot in Atlanta, Georgia where everybody comes together

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00:19:12,000 --> 00:19:15,760
Speaker 2: and meets and has great ideas. And I got to pick. Yeah,

417
00:19:15,880 --> 00:19:17,640
Speaker 2: so I got to I got to pick their brains.

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00:19:17,680 --> 00:19:20,560
Speaker 2: And they were more than gracious to just give me

419
00:19:21,160 --> 00:19:24,560
Speaker 2: the information about you know, you know, how much should

420
00:19:24,560 --> 00:19:26,720
Speaker 2: a CTO have, what kind of equity like to the

421
00:19:26,760 --> 00:19:29,080
Speaker 2: other this idea which you're gonna build, You need an MVP.

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00:19:29,280 --> 00:19:31,240
Speaker 2: So I was just learning, you need a deck, you

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00:19:31,280 --> 00:19:33,240
Speaker 2: need you know, you need a proof of concept.

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Speaker 3: So they're okay, okay, okay.

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00:19:34,760 --> 00:19:37,040
Speaker 2: So I just had all that information and I just

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Speaker 2: started researching and then I'm kind of one of those

427
00:19:40,600 --> 00:19:42,919
Speaker 2: kind of do it do it off, I need to

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00:19:42,920 --> 00:19:45,080
Speaker 2: do it all type of people. So even the deck,

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Speaker 2: like I had somebody, they gave me somebody that builds decks,

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00:19:48,359 --> 00:19:50,280
Speaker 2: but I said, send me the deck in Keynote and

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00:19:50,280 --> 00:19:52,679
Speaker 2: then I just started clicking buttons and I built my

432
00:19:52,760 --> 00:19:54,520
Speaker 2: deck and learned how to use Keynote. Now, so now

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00:19:54,560 --> 00:19:56,840
Speaker 2: I'm a keynote whiz. So I'm the kind of person

434
00:19:56,880 --> 00:19:58,479
Speaker 2: that is just figure it out on my own if

435
00:19:58,520 --> 00:20:00,679
Speaker 2: I need to. And I'm a produce, so I know

436
00:20:00,720 --> 00:20:02,680
Speaker 2: what it's I know what the app is supposed to

437
00:20:02,760 --> 00:20:04,359
Speaker 2: look like, what it's supposed to feel like, what the

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00:20:04,359 --> 00:20:05,399
Speaker 2: buttons are supposed to do.

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00:20:06,000 --> 00:20:06,720
Speaker 3: All I need I need.

440
00:20:06,760 --> 00:20:08,159
Speaker 2: I know what the colors are supposed to be, so

441
00:20:08,160 --> 00:20:10,159
Speaker 2: all I need is somebody to build it. So that

442
00:20:10,280 --> 00:20:13,960
Speaker 2: was the part that was very very.

443
00:20:14,600 --> 00:20:16,560
Speaker 3: Hard for me. Yeah, it was. It was. It was

444
00:20:16,560 --> 00:20:17,080
Speaker 3: a challenge.

445
00:20:17,119 --> 00:20:19,919
Speaker 2: But again, and I had somebody that was working with

446
00:20:19,960 --> 00:20:21,760
Speaker 2: me on this, which is really weird. It was this

447
00:20:22,280 --> 00:20:24,160
Speaker 2: young lady that was working with me on the app

448
00:20:24,160 --> 00:20:25,840
Speaker 2: and she was kind of like guiding me through it.

449
00:20:26,080 --> 00:20:28,280
Speaker 2: But then she just disappeared and I was like, Okay,

450
00:20:28,359 --> 00:20:33,119
Speaker 2: now I'm really out here, like I'm dolo. So my

451
00:20:33,160 --> 00:20:35,960
Speaker 2: attorney at the time introduced me to my now CTO

452
00:20:36,800 --> 00:20:41,119
Speaker 2: and and he built the app. Very talented god by

453
00:20:41,160 --> 00:20:43,760
Speaker 2: the name of Romero Cannavas. That's like my guy, my

454
00:20:43,880 --> 00:20:47,159
Speaker 2: right hand and what we do at fan Base couldn't

455
00:20:47,200 --> 00:20:50,359
Speaker 2: build it without them, And so we just started the

456
00:20:50,400 --> 00:20:53,800
Speaker 2: process of putting together the early stages of what fan

457
00:20:53,840 --> 00:20:54,280
Speaker 2: Base would be.

458
00:20:54,440 --> 00:20:56,760
Speaker 8: So when you meet him and you're putting the plants together,

459
00:20:57,200 --> 00:21:00,760
Speaker 8: how long before the actual completion of the idea.

460
00:21:00,840 --> 00:21:01,800
Speaker 3: So it's about six months.

461
00:21:01,800 --> 00:21:03,680
Speaker 2: So we built it from We built the MVP from

462
00:21:04,200 --> 00:21:05,520
Speaker 2: like July to December.

463
00:21:06,240 --> 00:21:10,520
Speaker 5: MVP middle viable products, And that's just like.

464
00:21:12,040 --> 00:21:14,720
Speaker 6: The most important things that need to be part of

465
00:21:14,720 --> 00:21:15,320
Speaker 6: the situation.

466
00:21:15,680 --> 00:21:20,240
Speaker 2: Yeah, because so typically, and this comes from people in

467
00:21:20,320 --> 00:21:22,800
Speaker 2: black tech, is like we don't get to write our

468
00:21:22,840 --> 00:21:25,119
Speaker 2: ideas down on a napkin and slide it over to

469
00:21:25,119 --> 00:21:27,600
Speaker 2: somebody say okay, I'll fund that for twenty million dollars,

470
00:21:27,920 --> 00:21:30,720
Speaker 2: because because along the way, you know, I would hear

471
00:21:30,760 --> 00:21:33,760
Speaker 2: from from other people in tech and say, man, like

472
00:21:34,119 --> 00:21:37,359
Speaker 2: these dudes got twenty million dollars and spend all the

473
00:21:37,400 --> 00:21:39,800
Speaker 2: money on some other bullshit and never even built an MVP,

474
00:21:40,000 --> 00:21:41,960
Speaker 2: never built a prototype. They just take the money and

475
00:21:42,520 --> 00:21:44,280
Speaker 2: trick it off or do something like that, and they're

476
00:21:44,320 --> 00:21:46,960
Speaker 2: not They're not black. R we don't get we don't

477
00:21:47,000 --> 00:21:48,200
Speaker 2: get you know, we get to you know, we don't

478
00:21:48,200 --> 00:21:51,480
Speaker 2: get a nap. We have to prove ourselves be on

479
00:21:51,520 --> 00:21:53,320
Speaker 2: a shadow of a doubt. So I knew, Okay, I'm

480
00:21:53,359 --> 00:21:56,280
Speaker 2: gonna have to make something that like, Okay, this shit

481
00:21:56,520 --> 00:21:59,400
Speaker 2: really really works and once people have those light bulb moments, right,

482
00:21:59,840 --> 00:22:04,080
Speaker 2: And I'm gracious enough in building a platform that I

483
00:22:04,160 --> 00:22:07,080
Speaker 2: know that because I hated every social media platform that

484
00:22:07,119 --> 00:22:09,760
Speaker 2: came out except for Instagram. I was hated all on

485
00:22:09,840 --> 00:22:12,160
Speaker 2: my thought, and I mean not dislike them. I hated

486
00:22:12,200 --> 00:22:14,439
Speaker 2: on them, like oh, this is stupid. Like first time

487
00:22:14,480 --> 00:22:16,600
Speaker 2: I saw first time I saw MySpace, I was like.

488
00:22:16,560 --> 00:22:18,919
Speaker 3: That's done. And I was like, oh, and I was

489
00:22:18,960 --> 00:22:20,480
Speaker 3: on Facebook, that's done. I was like oh.

490
00:22:20,840 --> 00:22:22,520
Speaker 2: And I saw Twitter and I was like I got

491
00:22:22,520 --> 00:22:24,000
Speaker 2: on Twitter and oh eight nobody was on there. And

492
00:22:24,040 --> 00:22:26,280
Speaker 2: I left and then I came back like the end

493
00:22:26,320 --> 00:22:29,080
Speaker 2: of O nine, and I thought about it. I was like, Oh,

494
00:22:29,119 --> 00:22:31,200
Speaker 2: this is going to be the news before the news,

495
00:22:31,400 --> 00:22:33,400
Speaker 2: so somebody get to shooting. This is how I think

496
00:22:33,440 --> 00:22:36,000
Speaker 2: somebody get to shooting. It'll be on Twitter before the news.

497
00:22:36,040 --> 00:22:38,320
Speaker 2: Even though they were shooting at the club. And that's

498
00:22:38,400 --> 00:22:41,160
Speaker 2: kind of what you see now. I checked Twitter. Twitter

499
00:22:41,280 --> 00:22:44,080
Speaker 2: is my news before anything, so that's you know, I

500
00:22:44,160 --> 00:22:46,639
Speaker 2: knew that. So and then Instagram is the only one

501
00:22:46,680 --> 00:22:48,040
Speaker 2: that I got because I said, this is going to

502
00:22:48,119 --> 00:22:48,920
Speaker 2: kill the website.

503
00:22:49,200 --> 00:22:50,080
Speaker 3: So websites are done.

504
00:22:50,119 --> 00:22:53,320
Speaker 2: I haven't been to a website in ten years because

505
00:22:53,320 --> 00:22:58,920
Speaker 2: I can see TMZ and ESPN and you know, some

506
00:22:58,960 --> 00:23:00,959
Speaker 2: funny comedians and all this kind of stuff all at

507
00:23:00,960 --> 00:23:02,639
Speaker 2: the same time. So I just knew that that was

508
00:23:02,680 --> 00:23:06,120
Speaker 2: what the future of social media is gonna be. So

509
00:23:07,040 --> 00:23:10,400
Speaker 2: that's what that's what led me to thinking about fan base.

510
00:23:10,760 --> 00:23:14,840
Speaker 6: So all right, so you get the CTO, he builds it.

511
00:23:14,880 --> 00:23:17,040
Speaker 6: You hadn't mentioned the equity, So did you give him

512
00:23:17,080 --> 00:23:19,680
Speaker 6: equity as opposed to paying him or so.

513
00:23:19,680 --> 00:23:21,240
Speaker 2: So the first thing, and this is when I knew

514
00:23:21,240 --> 00:23:24,480
Speaker 2: I was onto something. I paid them directly right just

515
00:23:24,520 --> 00:23:27,480
Speaker 2: to build it. But I made sure that on the code.

516
00:23:27,600 --> 00:23:30,760
Speaker 2: How was it to cost the building It costs like

517
00:23:30,760 --> 00:23:33,080
Speaker 2: two hundred thous what costs initially about one hundred thousand

518
00:23:33,760 --> 00:23:36,199
Speaker 2: to build it just to do that, And and the

519
00:23:36,280 --> 00:23:39,840
Speaker 2: fact that if this was done in the state, it

520
00:23:39,920 --> 00:23:41,399
Speaker 2: probably would have cost me like three I couldn't have

521
00:23:41,400 --> 00:23:43,520
Speaker 2: built this in America because it's the time and the

522
00:23:43,560 --> 00:23:45,400
Speaker 2: resources it takes the building. It probably would have taken

523
00:23:45,400 --> 00:23:47,280
Speaker 2: me like three hundred and fifty grand to build it,

524
00:23:47,280 --> 00:23:48,960
Speaker 2: because that's just how much. You know, if you get

525
00:23:48,960 --> 00:23:50,879
Speaker 2: somebody because you hear it, you hear a lot of

526
00:23:50,880 --> 00:23:52,520
Speaker 2: people say, oh, I'm gonna go to India.

527
00:23:52,760 --> 00:23:55,359
Speaker 5: We did that. Yeah, yeah, we so we had not

528
00:23:55,440 --> 00:23:56,000
Speaker 5: to cut you off.

529
00:23:56,000 --> 00:23:58,440
Speaker 6: But we had an app that he was building for DJs,

530
00:23:59,040 --> 00:24:02,000
Speaker 6: and we realiz that it was going to cost like

531
00:24:02,040 --> 00:24:05,200
Speaker 6: five hundred thousand buildings in America, but in India except

532
00:24:05,280 --> 00:24:07,240
Speaker 6: they said we can get it done for like fifty

533
00:24:07,280 --> 00:24:13,720
Speaker 6: thousand man, so we ended up paying You paid one

534
00:24:13,760 --> 00:24:16,880
Speaker 6: guy like twenty thousand. Yeah, we paid him like twenty

535
00:24:16,880 --> 00:24:19,440
Speaker 6: thousand and eight. They it was terrible, you know, telling

536
00:24:19,600 --> 00:24:23,440
Speaker 6: was wrong, it didn't work properly, everything was bad, and

537
00:24:23,600 --> 00:24:26,440
Speaker 6: they after a while they stopped answering. Then they went

538
00:24:26,480 --> 00:24:28,679
Speaker 6: on holiday, which you found out the holidays is like

539
00:24:28,720 --> 00:24:29,440
Speaker 6: three weeks.

540
00:24:29,960 --> 00:24:33,119
Speaker 5: And then we hired another Indian to go find.

541
00:24:32,880 --> 00:24:35,560
Speaker 6: This the guy in India, Yeah, he was in the jungle,

542
00:24:35,600 --> 00:24:36,840
Speaker 6: and paid him like five thousand.

543
00:24:36,920 --> 00:24:39,280
Speaker 8: Right, we paid a flight for him. So the next

544
00:24:39,280 --> 00:24:41,080
Speaker 8: thing he tried to find was in the jungle. So

545
00:24:41,119 --> 00:24:43,480
Speaker 8: then we paid it his flight to go find him.

546
00:24:43,640 --> 00:24:45,159
Speaker 8: But he end never ran.

547
00:24:45,040 --> 00:24:46,919
Speaker 6: Off on He ran off on this so we got

548
00:24:46,960 --> 00:24:49,160
Speaker 6: burnt pretty bad. We lost about thirty thousand dollars.

549
00:24:49,200 --> 00:24:49,480
Speaker 3: Wow.

550
00:24:49,760 --> 00:24:51,920
Speaker 5: Yeah, never got any kind of proble.

551
00:24:51,960 --> 00:24:54,919
Speaker 2: Mean, And what I tell people about when I tell

552
00:24:54,960 --> 00:24:58,159
Speaker 2: people about India, it's not a knock to get India,

553
00:24:58,359 --> 00:25:00,199
Speaker 2: it's it's on the other side of the plane. So

554
00:25:00,240 --> 00:25:03,880
Speaker 2: the times is off. Argentina is just like an hour head.

555
00:25:04,000 --> 00:25:07,920
Speaker 2: And Argentina is just like they hungry, like they like yo,

556
00:25:08,119 --> 00:25:10,360
Speaker 2: we can cold, just as good as Facebook and all

557
00:25:10,400 --> 00:25:13,280
Speaker 2: these major corporations and so and it was just fortunate

558
00:25:13,320 --> 00:25:17,119
Speaker 2: that Ramiro lives in Atlanta, so his company is based

559
00:25:17,119 --> 00:25:20,280
Speaker 2: here in Atlanta. So equity was not a part of

560
00:25:20,280 --> 00:25:23,879
Speaker 2: the conversation. It was built. And then what he did,

561
00:25:24,320 --> 00:25:26,320
Speaker 2: and this is this is when I said, Okay, I

562
00:25:26,400 --> 00:25:28,679
Speaker 2: got something here. Because they had been in business for

563
00:25:28,720 --> 00:25:32,280
Speaker 2: about ten years or so already, and he said, we

564
00:25:32,320 --> 00:25:34,560
Speaker 2: want to invest in this. This is the first this

565
00:25:34,600 --> 00:25:36,240
Speaker 2: is the first app that we've ever been a part of.

566
00:25:36,280 --> 00:25:39,160
Speaker 2: And they've built stuff for the CDC and Taco Bell

567
00:25:39,240 --> 00:25:41,040
Speaker 2: and all these other companies and a lot of startups

568
00:25:41,080 --> 00:25:42,679
Speaker 2: to come through their doors and they've built stuff and

569
00:25:42,720 --> 00:25:44,639
Speaker 2: gone along. But it was like, nah, we want to

570
00:25:44,760 --> 00:25:46,520
Speaker 2: we want to be a part of this because we

571
00:25:46,640 --> 00:25:48,199
Speaker 2: rock with you and we think this is like what

572
00:25:48,240 --> 00:25:49,760
Speaker 2: the future is about. And I said, okay, I'm on

573
00:25:49,800 --> 00:25:53,159
Speaker 2: this something because and it was great because then I

574
00:25:53,280 --> 00:25:56,440
Speaker 2: had him. And this is a lesson that I learned

575
00:25:56,480 --> 00:25:58,479
Speaker 2: and had to know is if you're going to raise capital,

576
00:25:58,720 --> 00:26:01,880
Speaker 2: you're going to have to have a ct because if

577
00:26:01,920 --> 00:26:04,399
Speaker 2: you because if nobody's gonna give you money, if the

578
00:26:04,440 --> 00:26:06,639
Speaker 2: person that is gonna build they can just pick up

579
00:26:06,640 --> 00:26:07,000
Speaker 2: and leave.

580
00:26:07,359 --> 00:26:09,600
Speaker 5: The technology officers, yeah.

581
00:26:09,560 --> 00:26:12,080
Speaker 2: They have to have some skin in the game that

582
00:26:12,080 --> 00:26:14,280
Speaker 2: they're attached to the product just as much as you.

583
00:26:14,359 --> 00:26:16,399
Speaker 2: So you guys are in it together, so that they

584
00:26:16,480 --> 00:26:18,199
Speaker 2: just look at like they don't take it as a check, like, oh,

585
00:26:18,200 --> 00:26:20,639
Speaker 2: here's a check, here's your app. Because then when you

586
00:26:20,720 --> 00:26:22,320
Speaker 2: go to raise money, somebod's gonna ask you we who's

587
00:26:22,320 --> 00:26:24,439
Speaker 2: gonna help you build this? And if you don't have

588
00:26:24,480 --> 00:26:26,280
Speaker 2: a CTO, you have to get one. So people, and

589
00:26:26,320 --> 00:26:29,560
Speaker 2: those are the things that I learned from Jewel and

590
00:26:29,600 --> 00:26:31,719
Speaker 2: Barry and justin like you got to have a CTO,

591
00:26:31,760 --> 00:26:33,879
Speaker 2: they have to own part of the company, you know.

592
00:26:34,000 --> 00:26:36,880
Speaker 2: And so that's the that's the situation that arose because

593
00:26:36,880 --> 00:26:38,159
Speaker 2: it makes me best just feel comfortable.

594
00:26:38,320 --> 00:26:40,880
Speaker 8: Was that the first time, as you were obviously finding

595
00:26:40,960 --> 00:26:43,679
Speaker 8: Romero he's building it. Is this the first time you're thinking,

596
00:26:43,960 --> 00:26:46,480
Speaker 8: all right, this is my company, I'm gonna allow other

597
00:26:46,480 --> 00:26:49,760
Speaker 8: people to have shares in this equity In the situation.

598
00:26:49,440 --> 00:26:51,760
Speaker 2: No, so we were still we were still going to

599
00:26:51,840 --> 00:26:56,040
Speaker 2: go the route. Initially, I just left it alone because

600
00:26:56,040 --> 00:26:58,320
Speaker 2: I didn't want anybody to know that I was attached

601
00:26:58,359 --> 00:27:04,719
Speaker 2: to it, because of the stigma that.

602
00:27:03,040 --> 00:27:04,879
Speaker 3: That Unfortunately.

603
00:27:05,840 --> 00:27:09,360
Speaker 2: When my companies, Yeah, when white people build something, it's

604
00:27:09,359 --> 00:27:11,480
Speaker 2: a perceived it's for all people. But when black people

605
00:27:11,480 --> 00:27:14,000
Speaker 2: build something, it's perceived it's only for black people. And

606
00:27:14,160 --> 00:27:17,800
Speaker 2: fan base, its fan base is for every single user

607
00:27:17,840 --> 00:27:19,720
Speaker 2: on the planet. So I just wanted to stay as

608
00:27:19,800 --> 00:27:22,680
Speaker 2: far away as I possibly could. So I did that,

609
00:27:22,760 --> 00:27:27,760
Speaker 2: and I wanted a proof of concept without without corrupting

610
00:27:27,800 --> 00:27:30,199
Speaker 2: the data. So I didn't tell anybody I built it.

611
00:27:30,359 --> 00:27:31,840
Speaker 2: I didn't tell nobody to use it. I just want

612
00:27:31,840 --> 00:27:33,280
Speaker 2: to see if I put it out there with somebody

613
00:27:33,400 --> 00:27:36,600
Speaker 2: use it and make money, and people did, and in

614
00:27:36,720 --> 00:27:39,000
Speaker 2: a year we got to about ten thousand users and

615
00:27:39,080 --> 00:27:41,720
Speaker 2: a couple of users made four grand, six grand. I said, Okay,

616
00:27:41,880 --> 00:27:44,560
Speaker 2: now I can walk into a room and say I

617
00:27:44,600 --> 00:27:47,000
Speaker 2: didn't tell nobody, I didn't pay nobody to talk about this.

618
00:27:47,480 --> 00:27:50,040
Speaker 2: I didn't spend any money on marketing that someone could

619
00:27:50,040 --> 00:27:53,840
Speaker 2: actually use the platform and do that. And so that

620
00:27:53,960 --> 00:27:56,280
Speaker 2: I had one VC call and it's still kind of

621
00:27:56,320 --> 00:27:58,639
Speaker 2: rub me the wrong way, like you're supposed to like

622
00:27:59,080 --> 00:28:01,840
Speaker 2: you're supposed to be like, Okay, here's the money to

623
00:28:01,920 --> 00:28:04,119
Speaker 2: do this, And it didn't work out that way. And

624
00:28:04,160 --> 00:28:07,600
Speaker 2: then covid just came down like a hammer, and we

625
00:28:07,640 --> 00:28:08,400
Speaker 2: was all inside.

626
00:28:09,000 --> 00:28:09,840
Speaker 3: What was that feeling like?

627
00:28:09,920 --> 00:28:12,560
Speaker 8: Right, you had the idea, you built it, you don't

628
00:28:12,560 --> 00:28:14,480
Speaker 8: tell anybody's all word of mouth. What's that feeling like?

629
00:28:14,520 --> 00:28:17,480
Speaker 8: Because every time we tell people like celebrate all the ones. Right,

630
00:28:18,280 --> 00:28:20,560
Speaker 8: once you start seeing people making money on your idea,

631
00:28:20,960 --> 00:28:22,600
Speaker 8: what's the feeling like at that time for you?

632
00:28:23,080 --> 00:28:23,280
Speaker 3: Oh?

633
00:28:23,320 --> 00:28:27,040
Speaker 2: It was enormous because I just because in my mind

634
00:28:27,320 --> 00:28:31,480
Speaker 2: the calculations I'm learning about, like Okay, how much can

635
00:28:31,520 --> 00:28:35,159
Speaker 2: you scale this? How far can this idea go? That

636
00:28:35,280 --> 00:28:37,600
Speaker 2: every single person on the planet has the ability to

637
00:28:37,600 --> 00:28:40,920
Speaker 2: turn themselves into their own business because that's what you're doing.

638
00:28:41,240 --> 00:28:44,520
Speaker 2: You're democratizing access to distribution for every single user on

639
00:28:44,560 --> 00:28:48,440
Speaker 2: the planet. And that's enormous for brands and every single person.

640
00:28:49,040 --> 00:28:53,320
Speaker 2: And when I think of our competitors out there, I

641
00:28:53,400 --> 00:28:55,719
Speaker 2: don't like when people talk about fan base, they say

642
00:28:55,760 --> 00:28:59,360
Speaker 2: it's fan base for content creators or artists or musicians,

643
00:28:59,400 --> 00:29:03,160
Speaker 2: and they isolated and platforms the other the other platforms

644
00:29:03,240 --> 00:29:06,360
Speaker 2: tend to do that they call the user a content creator,

645
00:29:06,400 --> 00:29:08,960
Speaker 2: when in truth, we're all content creators. Every single person

646
00:29:08,960 --> 00:29:12,000
Speaker 2: on social media's creating content. If you're commenting, posting, you're

647
00:29:12,040 --> 00:29:14,320
Speaker 2: posting once a year, one hundred times a day, we're

648
00:29:14,360 --> 00:29:17,760
Speaker 2: all content creators. And so that that made me feel,

649
00:29:17,960 --> 00:29:20,160
Speaker 2: you know, really good, because now the sky's the limit.

650
00:29:20,800 --> 00:29:24,560
Speaker 6: So let me ask you this, as far as the app,

651
00:29:25,000 --> 00:29:29,400
Speaker 6: can you just explain every single aspect of the app

652
00:29:29,440 --> 00:29:32,400
Speaker 6: and details where you can give like a a perspective

653
00:29:32,440 --> 00:29:34,160
Speaker 6: of people that might not be familiar with it.

654
00:29:34,280 --> 00:29:38,000
Speaker 2: Well, okay, yeah, So so fan base is photo, video,

655
00:29:38,880 --> 00:29:44,640
Speaker 2: livestream and audio and long form content that's monetizable for

656
00:29:44,800 --> 00:29:47,680
Speaker 2: every single user on the planet, so you can have

657
00:29:47,840 --> 00:29:50,760
Speaker 2: so you can it's free to dol, free to use.

658
00:29:50,800 --> 00:29:55,440
Speaker 2: But you can also simultaneously have subscribers at the same time,

659
00:29:55,480 --> 00:29:57,840
Speaker 2: so you can have follower you have one hundred thousand

660
00:29:57,880 --> 00:30:01,720
Speaker 2: subscribers and one hundred thousand followers and twenty thousand subscribers

661
00:30:01,760 --> 00:30:03,560
Speaker 2: and they be on the exact same page. It's just

662
00:30:03,600 --> 00:30:07,200
Speaker 2: the content that you deem for subscribers only they can

663
00:30:07,240 --> 00:30:09,920
Speaker 2: see and it's paywall or they can unlock it, and

664
00:30:09,920 --> 00:30:11,560
Speaker 2: then the free stuff is for everybody else like all

665
00:30:11,560 --> 00:30:12,920
Speaker 2: the other social media platforms.

666
00:30:13,040 --> 00:30:13,680
Speaker 5: How much is it.

667
00:30:13,560 --> 00:30:16,520
Speaker 2: It's like it's four ninety nine a month per person

668
00:30:16,560 --> 00:30:17,400
Speaker 2: you subscribe to.

669
00:30:18,480 --> 00:30:22,120
Speaker 5: So per person subscribe to. So if I subscribe to.

670
00:30:24,120 --> 00:30:27,520
Speaker 6: Little Wing, I'm paying five dollars. If I subscribe to

671
00:30:27,680 --> 00:30:29,680
Speaker 6: Earn your Legion, I'm paying five dollars.

672
00:30:29,360 --> 00:30:33,600
Speaker 5: If every single time it's a five dollars yall, we

673
00:30:33,600 --> 00:30:34,280
Speaker 5: couldn't do that.

674
00:30:34,360 --> 00:30:37,520
Speaker 2: And this is important to say because I know that

675
00:30:38,360 --> 00:30:42,320
Speaker 2: the conversation of subscriptions has become so mainstream the last

676
00:30:42,360 --> 00:30:45,840
Speaker 2: two or three years. Fan Base was the first native

677
00:30:45,880 --> 00:30:48,520
Speaker 2: application to allow a user to have a follower and

678
00:30:48,560 --> 00:30:51,120
Speaker 2: a subscriber at the same time, and the reason I

679
00:30:51,160 --> 00:30:53,440
Speaker 2: know we were first because Apple wouldn't let us do it.

680
00:30:54,560 --> 00:30:57,240
Speaker 2: And that's the crazy part about it. So when you

681
00:30:57,440 --> 00:31:00,800
Speaker 2: when you subscribe it like Spotify or or Netflix or

682
00:31:00,840 --> 00:31:03,720
Speaker 2: whatever it is, you create something called a subscription profile

683
00:31:03,760 --> 00:31:06,960
Speaker 2: on Apple, right, And so we went to Apple said

684
00:31:07,000 --> 00:31:08,400
Speaker 2: we want to make an app that allows you to

685
00:31:08,400 --> 00:31:10,479
Speaker 2: subscribe to whoever you want to subscribe to, and they

686
00:31:10,480 --> 00:31:14,120
Speaker 2: were like no, because if one person subscribed to fifty people,

687
00:31:14,160 --> 00:31:16,360
Speaker 2: that's fifty subscription profiles we have to keep up with.

688
00:31:16,760 --> 00:31:19,120
Speaker 2: They were like, we're not letting y'all do that. So initially,

689
00:31:19,160 --> 00:31:22,520
Speaker 2: what we did is allow users to subscribe to one person,

690
00:31:23,240 --> 00:31:26,200
Speaker 2: three people, or five people, so each one of those

691
00:31:26,240 --> 00:31:28,760
Speaker 2: is an individual subscription profile that only Apple has to

692
00:31:28,840 --> 00:31:29,360
Speaker 2: keep up with.

693
00:31:29,800 --> 00:31:32,000
Speaker 3: But you get five people for one profile.

694
00:31:32,680 --> 00:31:37,840
Speaker 2: So fast forward to Instagram aligned subscriptions.

695
00:31:37,120 --> 00:31:38,800
Speaker 3: And I was like, wait a minute.

696
00:31:39,200 --> 00:31:41,480
Speaker 2: I was like, that means Apples changed it their way

697
00:31:41,560 --> 00:31:43,400
Speaker 2: because now you can subscribe to whoever you want to

698
00:31:43,440 --> 00:31:45,840
Speaker 2: on Instagram and I was like, that didn't exist before

699
00:31:45,880 --> 00:31:47,960
Speaker 2: we did it. And I remember Rameiro saying, that's a

700
00:31:48,000 --> 00:31:50,400
Speaker 2: good thing because you're cause that means you're doing something

701
00:31:50,400 --> 00:31:52,280
Speaker 2: that nobody's been done. Whenever you run into a barrier

702
00:31:52,320 --> 00:31:55,080
Speaker 2: in tech, that means oh, nobody's done it. But he's like,

703
00:31:55,080 --> 00:31:56,680
Speaker 2: but we can work our way around that. And that

704
00:31:56,760 --> 00:31:57,920
Speaker 2: was the workaround we came up with.

705
00:31:58,360 --> 00:32:02,080
Speaker 8: So when they're creating content, content creators, everybody is right,

706
00:32:02,520 --> 00:32:06,240
Speaker 8: I know, especially like on Instagram you have five hundred

707
00:32:06,240 --> 00:32:09,640
Speaker 8: thousand followers, a million followers, Not everybody sees that content.

708
00:32:11,040 --> 00:32:12,280
Speaker 7: What's that like for fanbase?

709
00:32:12,400 --> 00:32:12,560
Speaker 3: Right?

710
00:32:12,680 --> 00:32:14,920
Speaker 8: Is it the same out Like everybody that follows me

711
00:32:14,960 --> 00:32:17,440
Speaker 8: will be updated on what I'm doing. Yeah, it doesn't

712
00:32:17,480 --> 00:32:20,320
Speaker 8: matter if I'm free or subscription. I'ld still be something

713
00:32:20,360 --> 00:32:22,080
Speaker 8: that could be unlocked it from subscription.

714
00:32:21,760 --> 00:32:22,480
Speaker 3: You know, it doesn't matter.

715
00:32:22,560 --> 00:32:25,600
Speaker 2: It doesn't matter because that that is the goal is

716
00:32:25,640 --> 00:32:28,200
Speaker 2: for us to allow anybody to make as much money

717
00:32:28,200 --> 00:32:29,040
Speaker 2: as it possibly can.

718
00:32:29,400 --> 00:32:29,560
Speaker 3: Right.

719
00:32:30,040 --> 00:32:34,200
Speaker 2: So on current social media platforms like Instagram, and I'm

720
00:32:34,320 --> 00:32:37,640
Speaker 2: very critical of that. Instagram was fun until about twenty fourteen, right,

721
00:32:37,920 --> 00:32:39,840
Speaker 2: and that's when they started running ads, and so because

722
00:32:39,880 --> 00:32:41,360
Speaker 2: you would go viral, you could wind up with a

723
00:32:41,360 --> 00:32:42,440
Speaker 2: million followers in a day.

724
00:32:42,960 --> 00:32:43,520
Speaker 3: It was popping.

725
00:32:43,600 --> 00:32:46,200
Speaker 2: Somebody might say something, you know, go viral and it's like, yo,

726
00:32:46,280 --> 00:32:48,360
Speaker 2: I got like three hundred thousand followers in a day. Right,

727
00:32:48,880 --> 00:32:52,200
Speaker 2: It doesn't work that way anymore. That's because Instagram and

728
00:32:52,240 --> 00:32:56,720
Speaker 2: Facebook are built around advertising, and so I tell people

729
00:32:56,720 --> 00:32:58,480
Speaker 2: all the time, and people are like, I never thought

730
00:32:58,480 --> 00:33:00,440
Speaker 2: of that. I was like, why would Instagram you reach

731
00:33:00,480 --> 00:33:03,240
Speaker 2: a million people? When they charge people to reach a

732
00:33:03,240 --> 00:33:06,680
Speaker 2: million people? So they can't do that. Right, If you

733
00:33:06,720 --> 00:33:08,760
Speaker 2: go to your iPhone right now, try to boost your

734
00:33:08,760 --> 00:33:11,440
Speaker 2: posts on Instagram. It'll take you ten thousand dollars to

735
00:33:11,480 --> 00:33:13,320
Speaker 2: reach the minimum of a million people, and you may

736
00:33:13,400 --> 00:33:15,680
Speaker 2: or may not reach those people. Right, So if you

737
00:33:15,720 --> 00:33:19,240
Speaker 2: got twenty million followers, you think that every time you

738
00:33:19,280 --> 00:33:21,480
Speaker 2: post a photo, Instagram's gonna send that to twenty million

739
00:33:21,520 --> 00:33:24,880
Speaker 2: people if you could do that every single time. And

740
00:33:24,960 --> 00:33:27,360
Speaker 2: what I said before was it was cool when it

741
00:33:27,400 --> 00:33:30,920
Speaker 2: was just text and photo. Once video gets involved, now

742
00:33:30,960 --> 00:33:34,040
Speaker 2: you're a network, you know, Like I say, eighteen million

743
00:33:34,040 --> 00:33:38,320
Speaker 2: people watch Sunday Night football during football season. NBC charges

744
00:33:38,360 --> 00:33:41,680
Speaker 2: eight hundred and sixty thousand dollars for a thirty second spot.

745
00:33:41,920 --> 00:33:44,400
Speaker 2: So if you could post a video on Instagram and

746
00:33:44,400 --> 00:33:47,240
Speaker 2: it reached eighteen million people, you catch charge eight hundred

747
00:33:47,280 --> 00:33:49,520
Speaker 2: and sixty thousand dollars every time you did that. But

748
00:33:49,560 --> 00:33:51,760
Speaker 2: guess what happens. The brands would come and pay you

749
00:33:52,360 --> 00:33:55,120
Speaker 2: and not pay Instagram. So for that very reason, they

750
00:33:55,120 --> 00:33:57,360
Speaker 2: have to limit the amount of people that see your

751
00:33:57,360 --> 00:34:00,160
Speaker 2: content so they can make money. You still get engage,

752
00:34:00,320 --> 00:34:02,240
Speaker 2: but it's about three to four percent of your following,

753
00:34:02,840 --> 00:34:04,720
Speaker 2: but it's not the one hundred percent. So on fan base,

754
00:34:04,760 --> 00:34:07,720
Speaker 2: we want everybody to see your content. I mean, Beyonce

755
00:34:07,880 --> 00:34:09,960
Speaker 2: got two hundred and thirty one million followers.

756
00:34:10,160 --> 00:34:10,720
Speaker 3: She cheat.

757
00:34:10,760 --> 00:34:12,560
Speaker 2: You could charge ten million of posts and never work again,

758
00:34:12,640 --> 00:34:15,080
Speaker 2: like ten million here, ten millionaire. They're not doing that.

759
00:34:15,200 --> 00:34:17,040
Speaker 2: If you go to Beyonce's page right now and click

760
00:34:17,080 --> 00:34:19,600
Speaker 2: on the video portion of her page, her videos have

761
00:34:19,680 --> 00:34:23,080
Speaker 2: like three four million views, five million views max. May

762
00:34:23,320 --> 00:34:25,520
Speaker 2: other ones that go viral because it went viral, so

763
00:34:25,680 --> 00:34:28,800
Speaker 2: might have eleven million, eighteen million, But most of the

764
00:34:28,840 --> 00:34:30,400
Speaker 2: videos are like three to four million, which is like

765
00:34:30,400 --> 00:34:31,160
Speaker 2: three or four percent.

766
00:34:31,280 --> 00:34:35,040
Speaker 5: So let's talk about this algorithm. What is an algorithm?

767
00:34:35,040 --> 00:34:38,000
Speaker 6: Because every social media, every single one of them, has

768
00:34:38,000 --> 00:34:44,480
Speaker 6: an algorithm to TikTok, Twitter, Facebook, to Instagram. My understanding

769
00:34:44,600 --> 00:34:48,239
Speaker 6: is that as the apps get bigger, the algorithm is

770
00:34:48,440 --> 00:34:52,759
Speaker 6: needed because it filters out who they think would be

771
00:34:52,800 --> 00:34:55,719
Speaker 6: more engaged with it and it's easier to navigate as

772
00:34:55,760 --> 00:34:59,160
Speaker 6: opposed to like just getting it to every single person. Yeah,

773
00:34:59,320 --> 00:35:01,799
Speaker 6: that may be true, that may not be true. Does

774
00:35:01,840 --> 00:35:06,040
Speaker 6: your app have an algorithm and what is it? What

775
00:35:06,160 --> 00:35:09,000
Speaker 6: is the actual purpose of algorithm because everybody's heard the term,

776
00:35:09,040 --> 00:35:10,439
Speaker 6: but I don't think a lot of people actually fully

777
00:35:10,480 --> 00:35:11,400
Speaker 6: understand album.

778
00:35:11,239 --> 00:35:13,920
Speaker 2: Well the purpose of algorithms. They can serve many purposes.

779
00:35:14,000 --> 00:35:17,880
Speaker 2: One is to actually moderate content, right, So content moderation

780
00:35:18,040 --> 00:35:18,399
Speaker 2: is key.

781
00:35:19,120 --> 00:35:20,560
Speaker 3: In the early days of social media.

782
00:35:21,000 --> 00:35:23,160
Speaker 2: You might see someone that you might someone might be

783
00:35:23,160 --> 00:35:27,399
Speaker 2: able to post a hashtag that says like big booty bitches, right,

784
00:35:27,480 --> 00:35:29,719
Speaker 2: and it's like, okay, it's vulgar, but people might go viral.

785
00:35:29,800 --> 00:35:31,680
Speaker 2: But you don't want brands and people to get on

786
00:35:31,719 --> 00:35:34,320
Speaker 2: your platform and see big booty bitches. So the algorithm

787
00:35:34,400 --> 00:35:37,040
Speaker 2: might see that and be like, if it has big

788
00:35:37,080 --> 00:35:39,640
Speaker 2: booty bitches in the hashtag, then we're gonna hide that content.

789
00:35:39,719 --> 00:35:45,360
Speaker 2: A suppressor or there's algorithms, there's there's content moderation that

790
00:35:45,440 --> 00:35:53,000
Speaker 2: actually recognizes big booty and then they be like, yeah, demographics, right,

791
00:35:53,040 --> 00:35:55,840
Speaker 2: but it actually can there's actually algorithms and and and

792
00:35:56,000 --> 00:35:59,759
Speaker 2: stuff that can actually recognize the human form, right, so

793
00:36:00,080 --> 00:36:03,640
Speaker 2: let's say, oh, this is new. So because to manually

794
00:36:03,680 --> 00:36:06,240
Speaker 2: moderate content it's too expensive. You can't do it, especially

795
00:36:06,239 --> 00:36:08,200
Speaker 2: on a platform that has billions of people, because when

796
00:36:08,200 --> 00:36:10,640
Speaker 2: you're talking about eight ten billion pieces of content today

797
00:36:10,640 --> 00:36:12,880
Speaker 2: and you can't have people looking like, is that a nipple?

798
00:36:13,040 --> 00:36:14,799
Speaker 3: Is that a shadow of a nipple? We ain't got

799
00:36:14,840 --> 00:36:15,600
Speaker 3: time for all that shit.

800
00:36:15,680 --> 00:36:20,560
Speaker 2: So so algorithms are designed to take a lot of

801
00:36:20,560 --> 00:36:24,080
Speaker 2: the human workload off of what's being done. They're also

802
00:36:24,200 --> 00:36:28,040
Speaker 2: designed to help boost visibility of content or make the

803
00:36:28,080 --> 00:36:32,200
Speaker 2: content more engaging for the benefit of the business. So

804
00:36:32,640 --> 00:36:35,560
Speaker 2: the TikTok algorithm is very, very simple. It really is

805
00:36:35,600 --> 00:36:37,480
Speaker 2: based off how long you hover on a piece of

806
00:36:37,480 --> 00:36:39,919
Speaker 2: content and if you rewatch it. So if you hover

807
00:36:39,960 --> 00:36:43,480
Speaker 2: on a piece of content that's about like dogs and cats,

808
00:36:43,840 --> 00:36:46,520
Speaker 2: then the algorithm will serve you another piece of content,

809
00:36:46,880 --> 00:36:49,440
Speaker 2: you know, ten fifteen pieces later and see what you do.

810
00:36:49,760 --> 00:36:51,320
Speaker 2: And if you hover on that one and rewatch it,

811
00:36:51,360 --> 00:36:53,800
Speaker 2: then they say, Okay, we think they like pet videos,

812
00:36:54,000 --> 00:36:56,040
Speaker 2: so we'll start sending them more pet videos. But the

813
00:36:56,120 --> 00:37:02,279
Speaker 2: problem is if the video is about suicide or you know,

814
00:37:02,360 --> 00:37:05,120
Speaker 2: conspiracy theories, then the algorithm. It is just an algorithm

815
00:37:05,200 --> 00:37:07,880
Speaker 2: still doesn't know, but it'll start sending you suicidal content

816
00:37:08,239 --> 00:37:11,160
Speaker 2: so you can get down these rabbit holes of negative content.

817
00:37:11,560 --> 00:37:15,520
Speaker 2: So algorithms are just programs that are designed to enhance

818
00:37:15,600 --> 00:37:18,759
Speaker 2: the experience of the platform. But sometimes they can work

819
00:37:18,760 --> 00:37:22,120
Speaker 2: to the benefit of the user or you know, to

820
00:37:22,200 --> 00:37:24,440
Speaker 2: the defeat of the algorithm.

821
00:37:25,000 --> 00:37:27,279
Speaker 8: Yes, so if that's I'm thinking, so for fan base,

822
00:37:27,680 --> 00:37:31,120
Speaker 8: it would be more advantageous to actually have it boost

823
00:37:31,120 --> 00:37:32,960
Speaker 8: the content because of more visibility.

824
00:37:33,120 --> 00:37:36,000
Speaker 2: Well, there's we don't have algorithms. We don't have algorithms

825
00:37:36,000 --> 00:37:40,160
Speaker 2: that boost content. It's simply if you have a million

826
00:37:40,200 --> 00:37:43,239
Speaker 2: followers on fan base, some closer piece of content, then

827
00:37:43,440 --> 00:37:45,120
Speaker 2: we're going to send it to a million people. I

828
00:37:45,120 --> 00:37:47,800
Speaker 2: don't want to because once I start controlling the amount

829
00:37:47,840 --> 00:37:51,120
Speaker 2: of visibility on the content that you receive, then I

830
00:37:51,239 --> 00:37:53,880
Speaker 2: become you know what I said, I didn't want to

831
00:37:53,880 --> 00:37:59,400
Speaker 2: be because it's about maximizing visibility to turn the And

832
00:37:59,480 --> 00:38:01,400
Speaker 2: this is a good a good thing to talk about.

833
00:38:01,719 --> 00:38:04,359
Speaker 2: Five percent of the people that follow you are your

834
00:38:04,400 --> 00:38:07,200
Speaker 2: fan base. So if you have a million followers on

835
00:38:07,239 --> 00:38:09,680
Speaker 2: social media and fifty thousand people really rock with you,

836
00:38:11,120 --> 00:38:13,359
Speaker 2: the other ninety five percent of people follow you follow

837
00:38:13,400 --> 00:38:16,160
Speaker 2: you passively like a magazine at a checkout aisle, or

838
00:38:16,160 --> 00:38:19,040
Speaker 2: their nosy or their haters. The other five percent they

839
00:38:19,040 --> 00:38:21,400
Speaker 2: are like, I rock with y'all, and that's what you

840
00:38:21,480 --> 00:38:23,680
Speaker 2: focus on. And so I tell people all the time,

841
00:38:24,239 --> 00:38:26,200
Speaker 2: do you want a million followers? Or do you want

842
00:38:26,239 --> 00:38:29,239
Speaker 2: a million dollars a million follow I know people with five, ten,

843
00:38:29,280 --> 00:38:31,920
Speaker 2: fifteen million followers broke can't even pay their bills. But

844
00:38:32,560 --> 00:38:35,759
Speaker 2: fifty thousand people paying you two dollars a month is

845
00:38:35,800 --> 00:38:37,960
Speaker 2: one hundred grand a month, one point two million dollars

846
00:38:38,000 --> 00:38:38,359
Speaker 2: a year.

847
00:38:38,640 --> 00:38:40,000
Speaker 3: That's it. Fifty thousand people.

848
00:38:40,080 --> 00:38:43,719
Speaker 2: In fact, when bad Baby, I know y'all heard about

849
00:38:43,760 --> 00:38:47,240
Speaker 2: Bad Baby, catch me outside, she made fifty five million

850
00:38:47,239 --> 00:38:50,960
Speaker 2: dollars off OnlyFans, right, right. And the first thing, there's

851
00:38:50,960 --> 00:38:53,000
Speaker 2: two things that I did. First thing I did is

852
00:38:53,040 --> 00:38:56,520
Speaker 2: went subscriber page. Not not because I wanted to. I

853
00:38:56,560 --> 00:39:01,400
Speaker 2: wanted to see what he did market research, yeah, no, absolutely,

854
00:39:01,440 --> 00:39:04,840
Speaker 2: but to see what she posted that got that and

855
00:39:04,880 --> 00:39:07,319
Speaker 2: I was surprised. Number One, she wasn't naked on any

856
00:39:07,360 --> 00:39:10,600
Speaker 2: of the content. The videos might have been ten says,

857
00:39:10,640 --> 00:39:13,359
Speaker 2: it might have been like ten seconds max and there's

858
00:39:13,360 --> 00:39:16,000
Speaker 2: a lot of pictures right of her and like bikinis

859
00:39:16,000 --> 00:39:18,120
Speaker 2: and lingerie and it was only like one hundred and

860
00:39:18,200 --> 00:39:20,520
Speaker 2: sixty pieces of content. I said, she made fifty five

861
00:39:20,560 --> 00:39:23,200
Speaker 2: million dollars off one hundred and sixty pieces of content.

862
00:39:23,280 --> 00:39:25,480
Speaker 2: The next thing I did is I went to her

863
00:39:25,520 --> 00:39:28,000
Speaker 2: Instagram page and there was no content on the page.

864
00:39:28,000 --> 00:39:30,120
Speaker 2: It was like six posts. One of them was I

865
00:39:30,160 --> 00:39:33,000
Speaker 2: made fifty five million dollars. Go cry about the bitches.

866
00:39:33,280 --> 00:39:35,960
Speaker 2: And that's what the that's what the capture said, right.

867
00:39:36,040 --> 00:39:38,000
Speaker 2: And I said, and this is something that I know

868
00:39:38,040 --> 00:39:39,200
Speaker 2: in our community we need to hear.

869
00:39:39,360 --> 00:39:40,759
Speaker 3: And it's gonna be a little controversial.

870
00:39:41,000 --> 00:39:44,200
Speaker 2: But I was like, see, I was like, she hit

871
00:39:44,239 --> 00:39:49,160
Speaker 2: all her content because she knows she makes Instagram. Instagram

872
00:39:49,239 --> 00:39:52,440
Speaker 2: doesn't make her. And that mentality came to her because

873
00:39:52,440 --> 00:39:54,520
Speaker 2: she's white. And what I mean by that if she

874
00:39:54,640 --> 00:39:57,879
Speaker 2: understands she runs shit. These apps don't run me. On

875
00:39:57,920 --> 00:40:01,160
Speaker 2: the other hand, we said, these apps are in us.

876
00:40:01,280 --> 00:40:03,680
Speaker 2: They take our pages, they throttle us down. We beg

877
00:40:03,719 --> 00:40:06,719
Speaker 2: giving my page back. They kick Boosy off the Instagram

878
00:40:06,760 --> 00:40:08,640
Speaker 2: every other week he begging to get his page back on.

879
00:40:08,719 --> 00:40:11,520
Speaker 2: He comes right back on. She's like I have sixteen

880
00:40:11,560 --> 00:40:14,640
Speaker 2: million followers. This serves me no purpose at all. So

881
00:40:14,680 --> 00:40:17,000
Speaker 2: she archived all her content and she put a link

882
00:40:17,040 --> 00:40:19,680
Speaker 2: tree and said, you can stream my song, watch my

883
00:40:19,760 --> 00:40:21,920
Speaker 2: music video, and come to my only fans. Because what

884
00:40:22,000 --> 00:40:24,200
Speaker 2: is this sixteen million people doing for me? It's doing nothing.

885
00:40:24,239 --> 00:40:26,600
Speaker 2: It's just a vanity number. It means absolutely no. What

886
00:40:26,600 --> 00:40:28,680
Speaker 2: is good as having sixteen million followers if you can't

887
00:40:28,760 --> 00:40:29,120
Speaker 2: use them?

888
00:40:29,320 --> 00:40:32,279
Speaker 5: Oh do you think that it to play devils out

889
00:40:32,280 --> 00:40:33,719
Speaker 5: of the kid? Oh? Gods, now the kids.

890
00:40:33,719 --> 00:40:37,320
Speaker 6: My god nineteen Keys would say, it is a great

891
00:40:37,560 --> 00:40:42,480
Speaker 6: form of promotion that's free, that you can reach. You

892
00:40:42,560 --> 00:40:43,920
Speaker 6: might not be able to reach one hundred percent of

893
00:40:43,920 --> 00:40:48,600
Speaker 6: your followers, but you can reach enough to tremendously boost

894
00:40:48,640 --> 00:40:49,200
Speaker 6: your business.

895
00:40:49,360 --> 00:40:49,960
Speaker 5: You know, don't think so.

896
00:40:50,920 --> 00:40:55,200
Speaker 2: I believe that. But they're your followers. If I follow you,

897
00:40:55,280 --> 00:40:55,960
Speaker 2: I want to see you.

898
00:40:56,000 --> 00:40:56,080
Speaker 5: No.

899
00:40:57,520 --> 00:40:59,719
Speaker 8: This episode is brought to you by P and C Bank.

900
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Speaker 8: A lot of people think podcasts about work are boring,

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Speaker 8: and sure, they definitely can be, But understanding a professionals

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911
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912
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Speaker 8: checkout is fast, their seats are digital, tipping is a breeze,

913
00:41:49,640 --> 00:41:51,800
Speaker 8: and you're out the door before the line even builds

914
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Speaker 8: Odds are they're using Square. We love supporting businesses that

915
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Speaker 8: a local coffee sh a vendor at a pop up market,

917
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918
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919
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Speaker 8: their business with confidence, all from one simple system. If

920
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Speaker 8: you're a business owner or even just thinking about launching

921
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Speaker 8: something soon, Square is hands down one of the best

922
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Speaker 8: tools out there to help you start, run and grow.

923
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Speaker 8: It's not just about payments, it's about giving you time

924
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925
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926
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927
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928
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929
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Speaker 8: pushing your vision forward.

930
00:42:48,200 --> 00:42:52,080
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942
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943
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944
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Speaker 1: on this podcast. Terms and conditions apply hiring indeed is

945
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Speaker 1: all you need.

946
00:43:46,280 --> 00:43:49,440
Speaker 3: I agree with you, right, but that's that.

947
00:43:49,560 --> 00:43:51,799
Speaker 2: But my point is the only thing that the only

948
00:43:51,840 --> 00:43:53,879
Speaker 2: reason why it isn't done that way is because they're

949
00:43:53,880 --> 00:43:56,000
Speaker 2: making money off you. What I tell people all the

950
00:43:56,000 --> 00:43:58,120
Speaker 2: time is that if you're not making money directly from

951
00:43:58,120 --> 00:44:00,400
Speaker 2: the platform, like the platform itself isn't hang you.

952
00:44:00,400 --> 00:44:02,560
Speaker 3: You're the product. There's no way.

953
00:44:02,600 --> 00:44:04,920
Speaker 2: And I was laughing the other day cause who was

954
00:44:04,920 --> 00:44:06,440
Speaker 2: I talking I can't remember who I was talking to.

955
00:44:07,120 --> 00:44:09,719
Speaker 2: And I was like, yeah, you know, I was like,

956
00:44:09,760 --> 00:44:12,080
Speaker 2: they don't even let you reach your followers, even you know,

957
00:44:12,760 --> 00:44:14,359
Speaker 2: you know, get a lot of money. They're like, well, yeah,

958
00:44:14,360 --> 00:44:15,960
Speaker 2: they're not gonna let you build a business on top

959
00:44:15,960 --> 00:44:18,279
Speaker 2: of their business, Like who won't let you do that?

960
00:44:18,840 --> 00:44:21,800
Speaker 5: And they're not, what's so you kind of did you

961
00:44:21,920 --> 00:44:24,480
Speaker 5: kind of like we built the business on their business?

962
00:44:25,680 --> 00:44:28,160
Speaker 2: You do until they don't allow you to just they

963
00:44:28,200 --> 00:44:30,719
Speaker 2: shadow you, block you, so they block you, or they

964
00:44:30,760 --> 00:44:32,759
Speaker 2: just say we don't allow that. Like people, because I

965
00:44:32,800 --> 00:44:34,320
Speaker 2: have there are a lot of people that are making

966
00:44:34,400 --> 00:44:38,799
Speaker 2: money off bonuses, like off reels. They're like, oh, if

967
00:44:38,800 --> 00:44:40,840
Speaker 2: I make if I get I can make up to

968
00:44:40,920 --> 00:44:43,920
Speaker 2: thirty five thousand dollars. If I get three hundred and

969
00:44:43,920 --> 00:44:46,839
Speaker 2: fifty million views, and I took out my calculator, I said,

970
00:44:46,960 --> 00:44:50,640
Speaker 2: that's point zero zero zero one cent of you.

971
00:44:52,080 --> 00:44:53,160
Speaker 3: Point zero zeros.

972
00:44:53,239 --> 00:44:57,000
Speaker 2: It's like one hundredth of a percent per view, right,

973
00:44:57,440 --> 00:44:59,880
Speaker 2: And they could decide and even remember that they're not

974
00:45:00,080 --> 00:45:02,279
Speaker 2: on bonuses anymore. But if you're making that money month

975
00:45:02,320 --> 00:45:05,440
Speaker 2: of a month and then in the program, your business

976
00:45:05,480 --> 00:45:05,839
Speaker 2: is done.

977
00:45:06,440 --> 00:45:08,680
Speaker 3: Yeah, And it's not. It's not my design.

978
00:45:08,800 --> 00:45:12,600
Speaker 2: It's not my My design is not to My design

979
00:45:12,640 --> 00:45:15,000
Speaker 2: is to let people build an infinite business off the

980
00:45:15,040 --> 00:45:16,640
Speaker 2: tools that I give you the build it, and I

981
00:45:16,760 --> 00:45:19,600
Speaker 2: just collect the fee. I just take a percentage, make

982
00:45:19,680 --> 00:45:21,320
Speaker 2: you make your business as big as you want to

983
00:45:21,360 --> 00:45:23,920
Speaker 2: build it. I'm not the business. My business is making

984
00:45:23,960 --> 00:45:24,880
Speaker 2: you a business.

985
00:45:25,000 --> 00:45:27,279
Speaker 7: So do you take a percentage of the four ninety nine?

986
00:45:27,520 --> 00:45:27,759
Speaker 3: Yeah?

987
00:45:27,880 --> 00:45:30,360
Speaker 8: But there's also other ways to monetize, right, So like

988
00:45:30,400 --> 00:45:34,480
Speaker 8: if I go live, is it flicks?

989
00:45:35,520 --> 00:45:37,360
Speaker 2: It's just gonna live. But Flix is like our version

990
00:45:37,520 --> 00:45:39,440
Speaker 2: of short form like TikTok and rails, So I, oh,

991
00:45:39,440 --> 00:45:42,120
Speaker 2: I do flicks or something like that. People could actually

992
00:45:42,520 --> 00:45:45,279
Speaker 2: like give money while it's happening. Almost like people like

993
00:45:45,719 --> 00:45:47,920
Speaker 2: YouTube has super chat or something like that. So, so

994
00:45:47,960 --> 00:45:50,920
Speaker 2: we have subscriptions, and then we have a virtual currency

995
00:45:50,920 --> 00:45:54,279
Speaker 2: we call love, and so love is purchased by the

996
00:45:54,440 --> 00:45:58,520
Speaker 2: user to tip anybody on the platform or unlock content

997
00:45:58,560 --> 00:46:02,719
Speaker 2: that you don't feel comfortable completely subscribing to. So so say, oh,

998
00:46:02,760 --> 00:46:05,080
Speaker 2: I go to somebody's page and they got twenty pieces

999
00:46:05,120 --> 00:46:07,600
Speaker 2: of content. Let me unlock one to see what's behind there,

1000
00:46:08,040 --> 00:46:10,680
Speaker 2: and then you get that and for that for that reason, right,

1001
00:46:11,120 --> 00:46:13,640
Speaker 2: So a lot of these other platforms used they make

1002
00:46:13,680 --> 00:46:15,360
Speaker 2: you go through the process of pulling out your credit

1003
00:46:15,400 --> 00:46:18,279
Speaker 2: card or sending up some sort of account. We use

1004
00:46:18,360 --> 00:46:21,120
Speaker 2: the innap purchase technology that's already built into Google and

1005
00:46:21,160 --> 00:46:23,640
Speaker 2: Apple for that reason. Their gangsters and they take thirty

1006
00:46:23,640 --> 00:46:26,080
Speaker 2: cents of every dollar, which is hefty, and we take

1007
00:46:26,120 --> 00:46:28,520
Speaker 2: twenty and we give fifty to the user. Now, when

1008
00:46:28,560 --> 00:46:30,440
Speaker 2: I hear it in the record business, when you got

1009
00:46:30,440 --> 00:46:33,279
Speaker 2: to think about people that are getting like sixteen cents

1010
00:46:33,280 --> 00:46:35,360
Speaker 2: out of a dollar, nine cents out of a dollar,

1011
00:46:36,160 --> 00:46:38,439
Speaker 2: fifty percent is a lot of money if you're making

1012
00:46:38,480 --> 00:46:41,560
Speaker 2: two dollars and fifty cents a subscriber, right, even that,

1013
00:46:41,920 --> 00:46:45,120
Speaker 2: even like I said, even if that's what is that

1014
00:46:45,120 --> 00:46:47,279
Speaker 2: that's one hundred and twenty five thousand dollars a month,

1015
00:46:47,360 --> 00:46:50,200
Speaker 2: one point five million dollars a year for fifty thousand people.

1016
00:46:50,480 --> 00:46:52,160
Speaker 2: Even if you wanted to, even if you wanted to,

1017
00:46:52,239 --> 00:46:55,440
Speaker 2: just go down to five thousand people subscribing to you,

1018
00:46:55,719 --> 00:46:59,200
Speaker 2: and you're making two fifty that's more money than you

1019
00:46:59,280 --> 00:47:01,279
Speaker 2: know ninety six percent of Americas one hundred and fifty

1020
00:47:01,280 --> 00:47:02,080
Speaker 2: thousand dollars a year.

1021
00:47:02,440 --> 00:47:03,240
Speaker 3: That's a lot of money.

1022
00:47:03,280 --> 00:47:06,080
Speaker 8: So I'm just thinking, like, if I'm an artist, you

1023
00:47:06,120 --> 00:47:09,000
Speaker 8: come from music, why would I just not put my

1024
00:47:09,600 --> 00:47:12,120
Speaker 8: I make a piece of art of music, and I

1025
00:47:12,200 --> 00:47:13,160
Speaker 8: put it directly there?

1026
00:47:13,360 --> 00:47:13,640
Speaker 3: Is it?

1027
00:47:14,040 --> 00:47:14,239
Speaker 7: Meaning?

1028
00:47:14,280 --> 00:47:18,080
Speaker 8: If I'm getting fifty percent on each view or each listen,

1029
00:47:18,320 --> 00:47:19,040
Speaker 8: will it make more sense?

1030
00:47:19,080 --> 00:47:22,480
Speaker 2: You get artists approaching you about this, Yeah, but most

1031
00:47:22,560 --> 00:47:26,120
Speaker 2: artists are tied into recording contracts and those people own

1032
00:47:26,160 --> 00:47:29,319
Speaker 2: that copyright, so they own the music video, they own

1033
00:47:29,360 --> 00:47:31,880
Speaker 2: the song, they own the master. But in this what

1034
00:47:31,920 --> 00:47:35,080
Speaker 2: I tell people all the time as an artist. For musicians,

1035
00:47:35,320 --> 00:47:38,040
Speaker 2: there are two ways of artists monetize their content. Primarily

1036
00:47:38,160 --> 00:47:45,760
Speaker 2: monetize their content through like music, like people buying your single,

1037
00:47:45,840 --> 00:47:48,520
Speaker 2: streaming your record, right, and then they monetize their audience

1038
00:47:49,120 --> 00:47:54,760
Speaker 2: through doing shows. So monetize your monetize your content through music,

1039
00:47:54,840 --> 00:47:58,560
Speaker 2: monetizer your audience by performing and doing concerts. There are

1040
00:47:58,640 --> 00:48:01,600
Speaker 2: large gaps of time where you're doing neither, and people

1041
00:48:01,640 --> 00:48:03,800
Speaker 2: want to know about your life. So people want to

1042
00:48:03,840 --> 00:48:06,920
Speaker 2: know where do you shot, who you dating, how do

1043
00:48:06,920 --> 00:48:09,560
Speaker 2: you stay fit? What happened at time? Y'all got in

1044
00:48:09,560 --> 00:48:12,000
Speaker 2: a fight in the club. So when I see people

1045
00:48:12,040 --> 00:48:15,479
Speaker 2: go live, this has happened two times in the last month.

1046
00:48:16,000 --> 00:48:18,359
Speaker 2: And I'm just and I say this all the time.

1047
00:48:18,360 --> 00:48:22,000
Speaker 2: When I seen when I seen Mega Stallion with Gail King,

1048
00:48:22,120 --> 00:48:26,880
Speaker 2: and I just saw Danny Lee talking to and Andy Martinez,

1049
00:48:26,920 --> 00:48:30,480
Speaker 2: I was like, what purpose did this serve? You could

1050
00:48:30,520 --> 00:48:33,719
Speaker 2: have literally sat down where Angie Martinez and told the

1051
00:48:33,760 --> 00:48:36,359
Speaker 2: whole story and put it behind the paywall. And now

1052
00:48:36,600 --> 00:48:38,399
Speaker 2: not even if you got kicked out the baby's house,

1053
00:48:38,520 --> 00:48:40,480
Speaker 2: go buy two houses, because everybody gonna tune in to

1054
00:48:40,520 --> 00:48:42,640
Speaker 2: see They might not even tell you they gonna watch,

1055
00:48:42,640 --> 00:48:44,680
Speaker 2: but they gonna watch. You know what I'm saying, Like

1056
00:48:44,800 --> 00:48:47,840
Speaker 2: monetize like fan base gives the ability for people to

1057
00:48:47,920 --> 00:48:51,360
Speaker 2: own their celebrity and monetize their celebrity. Don't let because

1058
00:48:51,360 --> 00:48:53,080
Speaker 2: what you do is when you tell it for free,

1059
00:48:53,239 --> 00:48:56,080
Speaker 2: TMZ takes it Baller at the Shade Room, all these

1060
00:48:56,080 --> 00:48:57,799
Speaker 2: places and they get all the views and.

1061
00:48:59,320 --> 00:49:01,400
Speaker 3: Continue to make money. And you just gave away your

1062
00:49:01,440 --> 00:49:02,320
Speaker 3: story for free.

1063
00:49:03,840 --> 00:49:07,640
Speaker 5: So what's the business model? Fan base?

1064
00:49:08,160 --> 00:49:12,320
Speaker 3: So, so the business model is subscriptions and virtual currency.

1065
00:49:12,960 --> 00:49:15,200
Speaker 6: I mean, as far as the company's making, how does

1066
00:49:15,200 --> 00:49:16,040
Speaker 6: the company make money?

1067
00:49:16,120 --> 00:49:18,600
Speaker 2: It makes it takes a percentage of we takecription, Yeah,

1068
00:49:18,640 --> 00:49:23,240
Speaker 2: twenty percent of anything. That so twenty percent of every penny,

1069
00:49:23,360 --> 00:49:25,000
Speaker 2: twenty percent of every dollar.

1070
00:49:25,200 --> 00:49:27,560
Speaker 5: So for five dollars a month, you get a dollar.

1071
00:49:27,800 --> 00:49:30,719
Speaker 3: Yeah, the creators get fifty cents.

1072
00:49:30,760 --> 00:49:34,560
Speaker 2: Remember Apple, Apple and Google take thirty. We take twenty, okay,

1073
00:49:34,600 --> 00:49:36,480
Speaker 2: and then we pass fifty to the creator.

1074
00:49:36,320 --> 00:49:37,400
Speaker 5: So they get to fifty.

1075
00:49:37,560 --> 00:49:41,759
Speaker 3: Yeah, two fifty person scrap that? Yeah, all right?

1076
00:49:43,320 --> 00:49:47,240
Speaker 6: Is the plan to also at one point have ads

1077
00:49:47,360 --> 00:49:48,560
Speaker 6: like all these other companies have.

1078
00:49:49,440 --> 00:49:51,400
Speaker 2: Again, if I have to run ads, then I have

1079
00:49:51,480 --> 00:49:56,680
Speaker 2: to probably limit the visibility of content because at that point,

1080
00:49:57,040 --> 00:49:59,400
Speaker 2: how am I gonna make revenue If I don't limit

1081
00:50:00,120 --> 00:50:01,640
Speaker 2: Brands are gonna want to come to the people that

1082
00:50:01,640 --> 00:50:03,319
Speaker 2: are on the platform to make money. And I don't

1083
00:50:03,360 --> 00:50:06,239
Speaker 2: think we have to run ads well, I think there's

1084
00:50:06,280 --> 00:50:08,520
Speaker 2: ways to be creative in the way that you advertise

1085
00:50:08,840 --> 00:50:11,200
Speaker 2: without actually running ads. I don't want to say what

1086
00:50:11,239 --> 00:50:14,040
Speaker 2: it is because every time I say something, it literally

1087
00:50:14,080 --> 00:50:18,920
Speaker 2: winds up on an app. I'm not lying like nobody's listening. No,

1088
00:50:19,040 --> 00:50:21,600
Speaker 2: for sure, like it's happened. So it's literally happened, like

1089
00:50:21,640 --> 00:50:24,040
Speaker 2: in real time where I and actually I had a

1090
00:50:24,040 --> 00:50:25,840
Speaker 2: friend of mine. I'm not gonna say what company he

1091
00:50:25,920 --> 00:50:27,800
Speaker 2: worked for, but he came and said, I want to

1092
00:50:27,840 --> 00:50:28,920
Speaker 2: talk to you because I want to talk to you

1093
00:50:28,920 --> 00:50:33,759
Speaker 2: about face, a huge like media company. He goes, we

1094
00:50:33,840 --> 00:50:36,799
Speaker 2: have this software, like like Facebook use us. All these

1095
00:50:36,800 --> 00:50:39,440
Speaker 2: companies use us. He's like, you know when you be

1096
00:50:39,560 --> 00:50:41,640
Speaker 2: like saying, like you talk about a product and also

1097
00:50:41,800 --> 00:50:43,719
Speaker 2: you get an add for Yeah, we're listening to your

1098
00:50:43,760 --> 00:50:47,080
Speaker 2: microphone like they hear it and they transcribing what you're saying.

1099
00:50:47,080 --> 00:50:48,439
Speaker 2: So if you talk about some shit and it show

1100
00:50:48,480 --> 00:50:50,440
Speaker 2: up on your phone, yes, they're absolutely. He's like, if

1101
00:50:50,480 --> 00:50:52,120
Speaker 2: you don't turn that shit off on your phone, your microphone,

1102
00:50:52,120 --> 00:50:53,480
Speaker 2: they're listening to everything you say.

1103
00:50:53,719 --> 00:50:55,399
Speaker 3: They're geo. They're geo fencing you.

1104
00:50:55,400 --> 00:50:58,439
Speaker 2: You walking, If you walk into a lingerie store, you're

1105
00:50:58,440 --> 00:51:00,640
Speaker 2: gonna get an ad about some brawls, and if they

1106
00:51:00,680 --> 00:51:03,080
Speaker 2: hear you talking about it, they hear you talking about

1107
00:51:04,440 --> 00:51:07,120
Speaker 2: a certain car or a certain product, they gonna send

1108
00:51:07,200 --> 00:51:08,759
Speaker 2: you and you know, oh, go go to this car

1109
00:51:08,960 --> 00:51:10,680
Speaker 2: wash or you know, do you know want some new

1110
00:51:10,719 --> 00:51:13,160
Speaker 2: rims or you need you know, anything like that. That's

1111
00:51:13,160 --> 00:51:16,400
Speaker 2: how they targeted a marketing target. So I know they listen,

1112
00:51:16,760 --> 00:51:17,200
Speaker 2: trust me.

1113
00:51:18,080 --> 00:51:20,440
Speaker 5: So there is a way. I just can't say it

1114
00:51:20,520 --> 00:51:20,879
Speaker 5: right now.

1115
00:51:20,920 --> 00:51:22,680
Speaker 6: But because I say have to say, that's one of

1116
00:51:22,719 --> 00:51:24,480
Speaker 6: the problems with Twitter, right they can't find a way

1117
00:51:24,520 --> 00:51:26,960
Speaker 6: to make money and they don't run ads.

1118
00:51:27,400 --> 00:51:30,919
Speaker 2: So elon, just say what he just said, he wants

1119
00:51:30,920 --> 00:51:32,800
Speaker 2: to turn into a subscription platform.

1120
00:51:32,960 --> 00:51:36,320
Speaker 6: Well it's yeah, but I'm just saying it still hasn't

1121
00:51:36,360 --> 00:51:39,240
Speaker 6: been done yet, So there's no there's no proven model

1122
00:51:39,680 --> 00:51:43,359
Speaker 6: that a social media company can be extremely profitable just

1123
00:51:43,400 --> 00:51:44,640
Speaker 6: based off of subscriptions.

1124
00:51:44,800 --> 00:51:49,320
Speaker 2: Yeah, I mean only fans. Only fans extremely profitable for

1125
00:51:49,360 --> 00:51:49,840
Speaker 2: the company.

1126
00:51:50,320 --> 00:51:51,720
Speaker 5: Yeah.

1127
00:51:52,280 --> 00:51:55,759
Speaker 9: Absolutely, They about to change the whole business model through

1128
00:51:55,800 --> 00:51:57,120
Speaker 9: because they were trying to get.

1129
00:51:57,000 --> 00:51:58,440
Speaker 3: Away from that.

1130
00:51:57,719 --> 00:52:01,919
Speaker 2: But they were But again, it's like it's the same thing.

1131
00:52:02,000 --> 00:52:07,160
Speaker 2: It's kind of like you're you can't cut off your

1132
00:52:07,280 --> 00:52:11,279
Speaker 2: source of revenue to maintain your business. And I think

1133
00:52:11,280 --> 00:52:13,799
Speaker 2: it's great for sex workers. I think it's terrible for

1134
00:52:13,840 --> 00:52:17,440
Speaker 2: people that want to establish their brand beyond, you know,

1135
00:52:19,280 --> 00:52:21,799
Speaker 2: being associated with sex work, which is why a lot

1136
00:52:21,840 --> 00:52:24,040
Speaker 2: of people shy away from the platform because it's hard

1137
00:52:24,080 --> 00:52:27,360
Speaker 2: because brands will not rock with you for that very reason.

1138
00:52:27,520 --> 00:52:30,240
Speaker 6: Have you thought about leaving it up to the creative

1139
00:52:30,239 --> 00:52:31,640
Speaker 6: to see how much they want to charge?

1140
00:52:32,280 --> 00:52:32,360
Speaker 5: So?

1141
00:52:33,840 --> 00:52:37,680
Speaker 2: Yes, and no, we can't the reason. So I've done

1142
00:52:37,960 --> 00:52:40,160
Speaker 2: an enormous amount of research on this, But what tends

1143
00:52:40,200 --> 00:52:44,200
Speaker 2: to happen is anything over like the seven eight dollars mark,

1144
00:52:44,440 --> 00:52:47,399
Speaker 2: subscriptions fall off about fifty percent month over a month.

1145
00:52:47,760 --> 00:52:49,439
Speaker 2: If I go into like if you going to only

1146
00:52:49,520 --> 00:52:51,239
Speaker 2: fans and you get there and it's a stack of

1147
00:52:51,239 --> 00:52:54,319
Speaker 2: folded clothes, you're out of there, like you're not. I

1148
00:52:54,360 --> 00:52:57,120
Speaker 2: came here to see boobs and so and she and

1149
00:52:57,280 --> 00:52:59,520
Speaker 2: she charged me like twenty five dollars.

1150
00:53:00,000 --> 00:53:01,680
Speaker 5: That's just what's your call of charge?

1151
00:53:02,840 --> 00:53:05,600
Speaker 3: That baby? She charged twenty four dollars, twenty four dollars

1152
00:53:05,680 --> 00:53:06,879
Speaker 3: twenty four a month.

1153
00:53:07,160 --> 00:53:08,319
Speaker 5: Yeah, so it's working for.

1154
00:53:08,280 --> 00:53:12,440
Speaker 2: Her, Oh no, because but it's it's it worked. I

1155
00:53:12,480 --> 00:53:16,360
Speaker 2: did I calculated it, it's still she made If you

1156
00:53:16,400 --> 00:53:18,640
Speaker 2: look at the image, she made like twenty five million

1157
00:53:18,640 --> 00:53:20,880
Speaker 2: dollars off messages, which is basically like unlocks, like what

1158
00:53:20,920 --> 00:53:22,520
Speaker 2: we're talking about, like how you can unlike.

1159
00:53:22,320 --> 00:53:23,240
Speaker 7: Conscious took the content.

1160
00:53:23,360 --> 00:53:26,480
Speaker 2: Yeah, but sixteen million off subscriptions, And even if I

1161
00:53:26,520 --> 00:53:29,160
Speaker 2: did it, when you do the math, it's still about

1162
00:53:29,200 --> 00:53:32,239
Speaker 2: fifty six thousand people that she made sixteen million dollars

1163
00:53:32,280 --> 00:53:35,720
Speaker 2: off of just fifty six thousand people. She made sixteen

1164
00:53:35,719 --> 00:53:39,200
Speaker 2: million dollars off of a year. That's a small town. So,

1165
00:53:40,400 --> 00:53:43,279
Speaker 2: I mean, it's so because like it's you don't want

1166
00:53:43,320 --> 00:53:43,640
Speaker 2: to do it.

1167
00:53:43,680 --> 00:53:46,600
Speaker 8: But we see pretty much every subscription service started at

1168
00:53:46,680 --> 00:53:50,080
Speaker 8: a low tier and then they may offer another tier,

1169
00:53:50,200 --> 00:53:51,880
Speaker 8: not that they have to raise the price, but they

1170
00:53:51,960 --> 00:53:52,920
Speaker 8: just have an added to.

1171
00:53:53,239 --> 00:53:56,239
Speaker 2: Is that maybe an option? Yeah, it's it's hard. It's

1172
00:53:56,239 --> 00:54:00,000
Speaker 2: hard to do. I'm not trying to get too much

1173
00:54:00,000 --> 00:54:01,440
Speaker 2: of the game away. There's a reason why I'm not

1174
00:54:01,440 --> 00:54:03,640
Speaker 2: going to. I'm going to tell you it's it's it's doable,

1175
00:54:04,320 --> 00:54:07,239
Speaker 2: but it's not as easy as people think it is,

1176
00:54:07,280 --> 00:54:10,000
Speaker 2: just because of where technology is now. But it's it's doable,

1177
00:54:10,840 --> 00:54:13,279
Speaker 2: and I think we can we can do it. I

1178
00:54:13,400 --> 00:54:15,919
Speaker 2: just know that people, and I'll tell people all the time.

1179
00:54:15,920 --> 00:54:17,040
Speaker 2: If you go on your phone and look at the

1180
00:54:17,040 --> 00:54:18,680
Speaker 2: subscription you have on your phone, like I probably got

1181
00:54:18,719 --> 00:54:21,439
Speaker 2: like fifteen sixteen subscriptions on my phone. You forget about

1182
00:54:21,440 --> 00:54:24,160
Speaker 2: that three ninety nine. You remember that thirty four ninety

1183
00:54:24,239 --> 00:54:25,640
Speaker 2: nine or whatever, like, oh yeah, let me take that

1184
00:54:25,680 --> 00:54:28,759
Speaker 2: off because I'm getting killed. But you know anything, that's

1185
00:54:28,800 --> 00:54:30,799
Speaker 2: a price for bagg of chips in the soda and

1186
00:54:30,840 --> 00:54:32,080
Speaker 2: you're and you're getting what you want.

1187
00:54:32,120 --> 00:54:33,080
Speaker 3: People forget about that.

1188
00:54:33,120 --> 00:54:35,600
Speaker 2: And then you'll have a subscriber for a year, two years,

1189
00:54:35,880 --> 00:54:38,040
Speaker 2: and they're just into what they're locked into your content.

1190
00:54:38,080 --> 00:54:38,680
Speaker 3: That's what you want.

1191
00:54:38,719 --> 00:54:41,160
Speaker 2: You want the want, the you want the acquisition, you

1192
00:54:41,160 --> 00:54:44,799
Speaker 2: want the purchase to not immediately hit you. And especially

1193
00:54:45,320 --> 00:54:48,040
Speaker 2: reasons why I did virtual currency and love and why

1194
00:54:48,080 --> 00:54:49,879
Speaker 2: I built fan base, Like I said, I didn't build

1195
00:54:49,880 --> 00:54:52,000
Speaker 2: fan base for me. I build fan base for the

1196
00:54:52,080 --> 00:54:57,760
Speaker 2: generation or two after me, right, because you know, those

1197
00:54:58,080 --> 00:55:01,600
Speaker 2: those kids are transactional. They spend their money, they live

1198
00:55:01,680 --> 00:55:03,960
Speaker 2: their life like now and they're like I'm gonna save

1199
00:55:04,080 --> 00:55:07,040
Speaker 2: and you know, go to Paris when I get you know, retired,

1200
00:55:07,120 --> 00:55:09,399
Speaker 2: Like nah, we go into Paris this weekend, and I'm

1201
00:55:09,400 --> 00:55:11,960
Speaker 2: gonna go buy you know, the the rick Owens, and

1202
00:55:11,960 --> 00:55:14,040
Speaker 2: I'm gonna go buy all the fly clothes and even

1203
00:55:14,040 --> 00:55:15,759
Speaker 2: I'm gonna quit my job, and bro, they gonna live

1204
00:55:15,840 --> 00:55:17,919
Speaker 2: life like right now, so they gonna buy. They'll buy

1205
00:55:17,960 --> 00:55:21,279
Speaker 2: what they want. And they understand virtual virtual payment. So

1206
00:55:21,280 --> 00:55:24,640
Speaker 2: they got Venmo cash at PayPal. They understand that they're

1207
00:55:24,680 --> 00:55:28,600
Speaker 2: transactional and they're born into this. That's all they know.

1208
00:55:28,640 --> 00:55:30,840
Speaker 2: They don't My little brother don't really know paper money.

1209
00:55:31,320 --> 00:55:33,239
Speaker 2: I mean, he's sixteen years old. All he knows is,

1210
00:55:33,719 --> 00:55:36,239
Speaker 2: you know, I send him money, you know, digitally, and

1211
00:55:36,280 --> 00:55:39,080
Speaker 2: he has a card and he's not counting cash, like

1212
00:55:39,200 --> 00:55:41,920
Speaker 2: if that hurts to pull out money and spend it

1213
00:55:41,960 --> 00:55:44,480
Speaker 2: that way. So and then there's no amount of innovation

1214
00:55:44,560 --> 00:55:47,959
Speaker 2: that Facebook and Instagram can do to capture kids because

1215
00:55:48,040 --> 00:55:49,600
Speaker 2: kids are always gonna want to be on apps that

1216
00:55:49,640 --> 00:55:52,440
Speaker 2: their parents are not on. It's about community building. So

1217
00:55:52,480 --> 00:55:54,120
Speaker 2: soon as my mama got on Facebook, I was like,

1218
00:55:54,200 --> 00:55:58,840
Speaker 2: Peece's like, you know Facebook as stated by a young child,

1219
00:55:59,440 --> 00:56:01,560
Speaker 2: which which the user sent me, and he sent me

1220
00:56:01,600 --> 00:56:04,879
Speaker 2: the tweet. His daughter said, Facebook is where old people

1221
00:56:04,960 --> 00:56:07,520
Speaker 2: go to brag about their grandchildren. That's what a young

1222
00:56:07,600 --> 00:56:10,160
Speaker 2: person thinks of Facebook. So I don't care what Facebook

1223
00:56:10,160 --> 00:56:12,480
Speaker 2: bill you can build. As matter of fact, the child

1224
00:56:12,600 --> 00:56:16,400
Speaker 2: said meta credit feta, I don't care what Facebook bills.

1225
00:56:16,560 --> 00:56:19,000
Speaker 2: It'll never be as cool as roadblocks because Facebook is

1226
00:56:19,000 --> 00:56:21,399
Speaker 2: where old people go to brag about their grandchildren.

1227
00:56:22,000 --> 00:56:23,160
Speaker 3: So build whatever you want.

1228
00:56:23,280 --> 00:56:24,920
Speaker 2: Kids are gonna want to be able to talk about

1229
00:56:25,239 --> 00:56:28,680
Speaker 2: their love life, their sex life, the music that they're

1230
00:56:28,719 --> 00:56:30,840
Speaker 2: listening to, the things that they're going through in spaces

1231
00:56:30,880 --> 00:56:32,200
Speaker 2: and places where their parents are not.

1232
00:56:32,719 --> 00:56:34,600
Speaker 5: So let's talk about this funding conversation.

1233
00:56:34,800 --> 00:56:37,560
Speaker 6: So you raised three point five million, I believe in

1234
00:56:37,600 --> 00:56:41,080
Speaker 6: the regc crowd six million, six million, two rounds.

1235
00:56:41,120 --> 00:56:44,360
Speaker 3: So I raised three point four in the first REXCF

1236
00:56:44,400 --> 00:56:46,160
Speaker 3: and two point six in the second.

1237
00:56:46,640 --> 00:56:50,560
Speaker 2: Oh so this is crowdfunding, right, yeah? Equity crowdfunding? What platform?

1238
00:56:50,719 --> 00:56:54,440
Speaker 2: Start engine starting? Oh, it's equity crowdfunding. Yeah so all right,

1239
00:56:54,480 --> 00:56:59,560
Speaker 2: So the equity crowdfunding is people who have ownership, right, yeah,

1240
00:57:00,040 --> 00:57:03,080
Speaker 2: so talk about that. So this is where my good

1241
00:57:03,120 --> 00:57:07,839
Speaker 2: friend don Dixon, who's raised money multiple times on Starter,

1242
00:57:07,920 --> 00:57:10,200
Speaker 2: and she's like the she's the first black woman to

1243
00:57:10,280 --> 00:57:14,719
Speaker 2: raise a million dollars to equity crowdfunding, and so she's like,

1244
00:57:14,880 --> 00:57:19,120
Speaker 2: you know, you can do this too, I because you

1245
00:57:19,240 --> 00:57:21,600
Speaker 2: understand your business is a great product, and then who

1246
00:57:21,640 --> 00:57:23,840
Speaker 2: better to have equity in the startup than the people

1247
00:57:23,880 --> 00:57:26,640
Speaker 2: that actually use it. And it's different for other companies,

1248
00:57:26,640 --> 00:57:28,600
Speaker 2: but I think it fit well with fan base and

1249
00:57:28,640 --> 00:57:31,240
Speaker 2: the time that we were in because there were so

1250
00:57:31,320 --> 00:57:33,680
Speaker 2: many complaints about what was going on on social media.

1251
00:57:33,680 --> 00:57:37,160
Speaker 2: It's like TikTok had this huge scandal about how if

1252
00:57:37,200 --> 00:57:39,520
Speaker 2: you put black anywhere you on the creator marketplace and

1253
00:57:39,520 --> 00:57:43,040
Speaker 2: you use black lives matter, black success black people. They

1254
00:57:43,080 --> 00:57:45,920
Speaker 2: were like, it's inappropriate concept, but you can put white supremacy,

1255
00:57:46,360 --> 00:57:48,720
Speaker 2: you know, and still charge for that. So TikTok had

1256
00:57:49,320 --> 00:57:51,760
Speaker 2: had a bad rich problem and they still do. And

1257
00:57:51,800 --> 00:57:53,800
Speaker 2: I tell people all the time, like, there's nothing that

1258
00:57:53,840 --> 00:57:57,960
Speaker 2: TikTok can do to to help you as a creator

1259
00:57:57,960 --> 00:58:00,160
Speaker 2: in the United States of America. That's a Chinese based company.

1260
00:58:00,400 --> 00:58:03,080
Speaker 2: The algorithm in China. All the shots get caught from China.

1261
00:58:03,640 --> 00:58:09,720
Speaker 2: So for us that the opportunity to equity crowdfund came about.

1262
00:58:10,240 --> 00:58:13,760
Speaker 2: And it's hard because only two percent of startups that

1263
00:58:13,800 --> 00:58:16,680
Speaker 2: apply for equity crowdfund and get accepted. So It's not

1264
00:58:16,720 --> 00:58:18,360
Speaker 2: like I could just sign up the start engine and

1265
00:58:18,960 --> 00:58:21,600
Speaker 2: do shared. It's a very very long process. You know,

1266
00:58:21,600 --> 00:58:26,480
Speaker 2: you have to go through multiple financial disclosures, like you

1267
00:58:26,560 --> 00:58:28,280
Speaker 2: got to fill out a lot of paperwork, file a

1268
00:58:28,280 --> 00:58:30,120
Speaker 2: lot of paperwork. So once you do all this kind

1269
00:58:30,160 --> 00:58:32,760
Speaker 2: of stuff, you know, then you're allowed to raise, and

1270
00:58:32,840 --> 00:58:35,960
Speaker 2: then you have to you know, market the raise to

1271
00:58:36,000 --> 00:58:37,480
Speaker 2: the point that the money that you're trying to raise.

1272
00:58:37,520 --> 00:58:38,800
Speaker 2: So I've known people that have tried to raise a

1273
00:58:38,840 --> 00:58:41,760
Speaker 2: million dollars and weren't able to raise ten thousand, right,

1274
00:58:41,840 --> 00:58:44,320
Speaker 2: and so you have to become the raise. You have

1275
00:58:44,400 --> 00:58:47,360
Speaker 2: to live it and really market and promoted non stuff.

1276
00:58:47,400 --> 00:58:49,440
Speaker 2: So we were successful two different times.

1277
00:58:49,760 --> 00:58:50,240
Speaker 3: So you have.

1278
00:58:51,760 --> 00:58:55,320
Speaker 8: Correct me if I'm over eight thousand investors. So what's

1279
00:58:55,360 --> 00:58:59,400
Speaker 8: the minimum to be able to invest? And obviously I

1280
00:58:59,440 --> 00:59:01,080
Speaker 8: don't know if obviously there's a.

1281
00:59:01,040 --> 00:59:04,000
Speaker 2: Maximare So when you're doing a RecF, the minimum is

1282
00:59:04,000 --> 00:59:07,120
Speaker 2: is I mean somewhere and around the nature of about

1283
00:59:07,160 --> 00:59:08,800
Speaker 2: one hundred and fifty to two undred fifty dollars. For

1284
00:59:08,840 --> 00:59:11,160
Speaker 2: our raise was two fifty minimum to invest with two

1285
00:59:11,240 --> 00:59:14,360
Speaker 2: hundred and fifty six dollars and the maximum is one

1286
00:59:14,440 --> 00:59:16,640
Speaker 2: hundred grand one hundred thousand dollars.

1287
00:59:16,840 --> 00:59:20,080
Speaker 8: Okay, So what's the marketing plan to make sure that

1288
00:59:20,160 --> 00:59:22,960
Speaker 8: people hear about it? They're interested in it? Obviously beyond you.

1289
00:59:23,240 --> 00:59:25,040
Speaker 8: It must be a marketing plan that's put behind it

1290
00:59:25,080 --> 00:59:27,800
Speaker 8: so we can have awareness. Are you going on social

1291
00:59:28,080 --> 00:59:31,120
Speaker 8: well social media to promote it? Are you using the

1292
00:59:31,160 --> 00:59:32,400
Speaker 8: other platforms?

1293
00:59:32,440 --> 00:59:36,400
Speaker 2: So Dawn was Dawn was my coach, and I took

1294
00:59:36,440 --> 00:59:38,120
Speaker 2: a lot of what she said a little bit of

1295
00:59:38,160 --> 00:59:41,440
Speaker 2: what I do. Because most people that raise capital, like

1296
00:59:41,480 --> 00:59:43,440
Speaker 2: do equity crowdfunding, have to take it a portion of

1297
00:59:43,440 --> 00:59:46,240
Speaker 2: their raise and put it back into advertising the campaign.

1298
00:59:46,280 --> 00:59:46,920
Speaker 3: I've never done that.

1299
00:59:46,960 --> 00:59:50,360
Speaker 2: I've never running ad campaign to raise money for fan base.

1300
00:59:50,400 --> 00:59:54,760
Speaker 2: What I have done is use platforms like clubhouse, you know,

1301
00:59:55,240 --> 01:00:00,320
Speaker 2: or use the use the climate of the in of

1302
01:00:00,400 --> 01:00:02,560
Speaker 2: what people are going through right now to say there's

1303
01:00:02,600 --> 01:00:04,680
Speaker 2: an alternative to this. If you if you're tired of

1304
01:00:04,720 --> 01:00:07,520
Speaker 2: these platforms treating you the way that you're treated, then

1305
01:00:07,560 --> 01:00:10,360
Speaker 2: you can definitely own part of one platform and continue

1306
01:00:10,360 --> 01:00:14,080
Speaker 2: to use this. So doing shows like this like I

1307
01:00:14,080 --> 01:00:16,480
Speaker 2: was Fun, like I did the I did the first round,

1308
01:00:16,560 --> 01:00:18,400
Speaker 2: I raised like three hundred thousand dollars.

1309
01:00:18,200 --> 01:00:19,200
Speaker 3: The first goal was to.

1310
01:00:19,160 --> 01:00:22,280
Speaker 2: Raise a million, and we did that in about I

1311
01:00:22,360 --> 01:00:24,439
Speaker 2: raised like three hundred thousand dollars in like the first

1312
01:00:24,440 --> 01:00:26,200
Speaker 2: two and a half weeks, and I did the Breakfast

1313
01:00:26,240 --> 01:00:28,080
Speaker 2: Club and then the day that I did the breakflub

1314
01:00:28,080 --> 01:00:30,919
Speaker 2: in that air, I raised like seven hundred thousand dollars

1315
01:00:31,000 --> 01:00:32,880
Speaker 2: unless an hour close that raise and had a wait

1316
01:00:32,880 --> 01:00:34,680
Speaker 2: list of like one point three million dollars.

1317
01:00:35,040 --> 01:00:37,120
Speaker 3: So you just never and that was viral. You never

1318
01:00:37,240 --> 01:00:38,720
Speaker 3: know when you're going to go viral.

1319
01:00:39,160 --> 01:00:42,840
Speaker 2: But also I think a key factor in doing when

1320
01:00:42,840 --> 01:00:46,720
Speaker 2: you're doing equity crowdfunding is letting people know how you're

1321
01:00:46,720 --> 01:00:49,520
Speaker 2: doing because it becomes a game to people, like people

1322
01:00:49,560 --> 01:00:50,000
Speaker 2: are watching it.

1323
01:00:50,040 --> 01:00:51,240
Speaker 3: Oh he raised a little fifty.

1324
01:00:51,000 --> 01:00:53,120
Speaker 2: Thousand dollars, I know he trying to raise like a million,

1325
01:00:53,160 --> 01:00:55,080
Speaker 2: two million, all right, and then they'll see you raise

1326
01:00:55,120 --> 01:00:57,160
Speaker 2: one hundred thousand, and they'll see you raised two hundred thousand.

1327
01:00:57,200 --> 01:00:59,600
Speaker 2: And that's what happened, and people were like, oh, man,

1328
01:00:59,680 --> 01:01:02,000
Speaker 2: I'm missed out because then went viral and to raise

1329
01:01:02,040 --> 01:01:04,280
Speaker 2: clothes at a million, I was able to open it

1330
01:01:04,320 --> 01:01:06,600
Speaker 2: back up and accept the wait list onto three point

1331
01:01:06,720 --> 01:01:08,760
Speaker 2: four million dollars. But a lot of people missed out

1332
01:01:09,160 --> 01:01:10,960
Speaker 2: and so but they'll follow it and they'll be like,

1333
01:01:11,240 --> 01:01:12,560
Speaker 2: I don't think he gonna make it then, and then

1334
01:01:12,600 --> 01:01:14,440
Speaker 2: when you make it, then they get like, I ain't

1335
01:01:14,480 --> 01:01:16,960
Speaker 2: missing the next one because you don't, you know. We

1336
01:01:18,160 --> 01:01:23,800
Speaker 2: The importance of equity crowdfunding is that accredited investors are

1337
01:01:23,840 --> 01:01:26,640
Speaker 2: allowed to go in and put minimal amounts of money

1338
01:01:27,440 --> 01:01:30,000
Speaker 2: into companies and walk away with huge.

1339
01:01:29,680 --> 01:01:31,000
Speaker 3: Amounts of return. Right.

1340
01:01:31,320 --> 01:01:33,400
Speaker 2: And so the credited investor, for those that don't know,

1341
01:01:33,920 --> 01:01:36,320
Speaker 2: is a person that makes over one hundred thousand dollars

1342
01:01:36,360 --> 01:01:39,840
Speaker 2: a year for two consecutive years, or has a networth

1343
01:01:39,880 --> 01:01:42,880
Speaker 2: of a million dollars minus their primary residents.

1344
01:01:42,960 --> 01:01:45,240
Speaker 3: Right. So I give this example, and I tell people

1345
01:01:45,240 --> 01:01:48,040
Speaker 3: all the time. One of the seed.

1346
01:01:47,840 --> 01:01:52,280
Speaker 2: Investors in uber or in Michael's Google him, he put

1347
01:01:52,320 --> 01:01:56,280
Speaker 2: five thousand dollars into uber in twenty ten, So I

1348
01:01:56,280 --> 01:01:58,720
Speaker 2: think the first you know half a million that they're raised,

1349
01:01:58,720 --> 01:02:02,240
Speaker 2: he put five g's an accredited investor. When the company

1350
01:02:02,280 --> 01:02:05,720
Speaker 2: ippiled in twenty nineteen, his five thousands worth twenty four

1351
01:02:05,760 --> 01:02:10,680
Speaker 2: million dollars. And I'm like, oh, okay, I'm not trying

1352
01:02:10,680 --> 01:02:11,960
Speaker 2: to be funny, but I know I know a lot

1353
01:02:12,000 --> 01:02:14,200
Speaker 2: of people with five j one thousand dollars. I know

1354
01:02:14,280 --> 01:02:16,919
Speaker 2: ten people with five hundred dollars. How come we can't?

1355
01:02:17,040 --> 01:02:19,040
Speaker 2: How come ain't nobody call me about Uber?

1356
01:02:19,720 --> 01:02:21,040
Speaker 3: Right? Because you're not accredited.

1357
01:02:21,280 --> 01:02:24,080
Speaker 2: So the accredited investor rule came in in nineteen thirty five,

1358
01:02:24,160 --> 01:02:27,920
Speaker 2: and it was really a rule to lock out the

1359
01:02:27,920 --> 01:02:31,360
Speaker 2: good opportunities only for the rich people. So like, oh,

1360
01:02:31,400 --> 01:02:32,720
Speaker 2: you got to be rich in this because we don't

1361
01:02:32,720 --> 01:02:35,320
Speaker 2: want you to blow your life savings on a bad investment.

1362
01:02:35,320 --> 01:02:37,280
Speaker 2: We don't want you to take your retirement money and

1363
01:02:37,360 --> 01:02:39,360
Speaker 2: put it into this thing called Uber and it goes

1364
01:02:39,400 --> 01:02:41,680
Speaker 2: belly up and you lost your fortune. But I tell

1365
01:02:41,680 --> 01:02:44,480
Speaker 2: people all the time, you don't have to be accredited

1366
01:02:44,480 --> 01:02:46,480
Speaker 2: to go to Vegas and blow five thousand dollars on

1367
01:02:46,520 --> 01:02:48,600
Speaker 2: the crap table. You don't have to be accredited to

1368
01:02:48,640 --> 01:02:51,560
Speaker 2: go buy lottery tickets five thousand dollars with a lottery

1369
01:02:51,600 --> 01:02:54,040
Speaker 2: tickets and wind up winning nothing. So why can't we

1370
01:02:54,120 --> 01:02:57,480
Speaker 2: gamble with startups the same way? And so that is

1371
01:02:57,480 --> 01:03:00,120
Speaker 2: where companies like start Engine come in and allow us

1372
01:03:00,480 --> 01:03:02,000
Speaker 2: for people to put the price of a pair of

1373
01:03:02,120 --> 01:03:05,280
Speaker 2: Jordan's into a startup and see where it goes. Because

1374
01:03:05,320 --> 01:03:07,560
Speaker 2: you're gonna eat it, you know, you're gonna buy it

1375
01:03:07,640 --> 01:03:10,240
Speaker 2: on some bullshit or hookah or whatever, you know, throw

1376
01:03:10,280 --> 01:03:12,600
Speaker 2: it at the strip club or you know, just do

1377
01:03:12,720 --> 01:03:13,320
Speaker 2: normal things.

1378
01:03:13,360 --> 01:03:15,200
Speaker 3: But why not be able to take some money and

1379
01:03:15,320 --> 01:03:15,800
Speaker 3: run with it?

1380
01:03:16,440 --> 01:03:22,040
Speaker 6: So, all right, VC, are you interested in getting venture capital?

1381
01:03:22,920 --> 01:03:26,040
Speaker 6: Did you have you tried to get VNCI traditional venture capital?

1382
01:03:26,080 --> 01:03:28,480
Speaker 6: What's your thoughts on venture to capital? And you investors?

1383
01:03:28,600 --> 01:03:31,600
Speaker 2: So I took one venture capital meeting before we did

1384
01:03:31,680 --> 01:03:34,920
Speaker 2: equity crowdfunding, and it felt really like, we don't want

1385
01:03:34,920 --> 01:03:36,280
Speaker 2: you to let we don't want you to play in

1386
01:03:36,320 --> 01:03:39,800
Speaker 2: our field. And then it just so happened that again

1387
01:03:39,840 --> 01:03:43,160
Speaker 2: like COVID hit. And so I'm definitely interested in venture capital,

1388
01:03:44,800 --> 01:03:47,080
Speaker 2: but I'm interested in the right venture capital and then

1389
01:03:47,120 --> 01:03:50,000
Speaker 2: the right way that it's done. And so I think

1390
01:03:50,000 --> 01:03:52,600
Speaker 2: the benefit of working in the music business, and I

1391
01:03:52,640 --> 01:03:55,240
Speaker 2: say this all the time, is that I've seen the

1392
01:03:55,280 --> 01:03:56,320
Speaker 2: worst deals possible.

1393
01:03:56,840 --> 01:03:57,760
Speaker 3: I've seen the worst.

1394
01:03:57,520 --> 01:03:59,600
Speaker 2: Publishing bills, I've seen my friends get signed, the bad

1395
01:03:59,640 --> 01:04:02,840
Speaker 2: publish deals. I've seen the worst kind of business deals

1396
01:04:02,840 --> 01:04:06,560
Speaker 2: done for artists and labels. So a VC can't slide

1397
01:04:06,600 --> 01:04:08,280
Speaker 2: me a deal Because a lot of my friends that

1398
01:04:08,440 --> 01:04:12,640
Speaker 2: are into tech, they have their version of bad record deals,

1399
01:04:13,080 --> 01:04:15,600
Speaker 2: like they have versions of where they might have given

1400
01:04:15,680 --> 01:04:17,840
Speaker 2: up too much equity or too much power in their

1401
01:04:17,840 --> 01:04:20,280
Speaker 2: company and got voted out of the company like Steve

1402
01:04:20,360 --> 01:04:22,520
Speaker 2: Jobs did, like Steve's all the genius. How do you

1403
01:04:22,560 --> 01:04:24,720
Speaker 2: get voted out your own damn company? But you know

1404
01:04:24,760 --> 01:04:27,400
Speaker 2: you're so fixed on I know I can make this work.

1405
01:04:27,440 --> 01:04:29,680
Speaker 2: That'll never happen. But now things happen and you get

1406
01:04:29,760 --> 01:04:32,800
Speaker 2: voted out. So I'm definitely interested in that. And so

1407
01:04:32,920 --> 01:04:37,840
Speaker 2: I treated I treat fan base like an independent artist

1408
01:04:37,960 --> 01:04:41,080
Speaker 2: because when the vcs were like that, one VC was like,

1409
01:04:41,160 --> 01:04:42,800
Speaker 2: oh no, it's like trying to go to the record

1410
01:04:42,840 --> 01:04:45,560
Speaker 2: company like Drake and they dish you and then you

1411
01:04:45,560 --> 01:04:48,320
Speaker 2: put your mixtape out and it which is my version

1412
01:04:48,360 --> 01:04:50,160
Speaker 2: of selling shares out the truck of my car to

1413
01:04:50,240 --> 01:04:52,000
Speaker 2: the tune of six million dollars. So now I was like,

1414
01:04:52,000 --> 01:04:54,000
Speaker 2: I got the streets. I don't need y'all. So now

1415
01:04:54,080 --> 01:04:55,959
Speaker 2: a VC can't come along and just hand me any

1416
01:04:55,960 --> 01:04:59,080
Speaker 2: old deal, right, the deal's gonna have to be respectable,

1417
01:04:59,440 --> 01:05:01,240
Speaker 2: and I under stand in the market and so and

1418
01:05:01,280 --> 01:05:04,680
Speaker 2: I can always go back to raising capital from the streets.

1419
01:05:04,760 --> 01:05:07,400
Speaker 2: So it's like I can always go back being independent.

1420
01:05:07,640 --> 01:05:09,840
Speaker 2: So if I do do a deal, my goal is

1421
01:05:09,880 --> 01:05:13,720
Speaker 2: to make fan base it's hot as little baby. So

1422
01:05:13,760 --> 01:05:15,560
Speaker 2: when the vcs come along, they're like, we got to

1423
01:05:15,640 --> 01:05:17,400
Speaker 2: sign you because you're so hot in the streets. If

1424
01:05:17,400 --> 01:05:20,080
Speaker 2: we don't, we're gonna miss out. And that's the that's

1425
01:05:20,120 --> 01:05:23,280
Speaker 2: the the the the model of the energy that I have.

1426
01:05:23,440 --> 01:05:28,840
Speaker 2: I definitely want vcs because they're they're definitely good business

1427
01:05:28,840 --> 01:05:31,160
Speaker 2: parties and can open up a lot of doors. But again,

1428
01:05:31,200 --> 01:05:32,439
Speaker 2: it just has to be the right deal.

1429
01:05:33,160 --> 01:05:36,360
Speaker 8: So you got over eight thousand, and now the app

1430
01:05:36,440 --> 01:05:38,120
Speaker 8: is in one hundred and seventy countries, maybe.

1431
01:05:37,920 --> 01:05:41,840
Speaker 3: More one hundred and thirty plus. Why why would that work?

1432
01:05:41,840 --> 01:05:44,240
Speaker 8: As far as international investors are people from other countries

1433
01:05:44,280 --> 01:05:45,040
Speaker 8: able to invest?

1434
01:05:45,400 --> 01:05:48,240
Speaker 2: So the only only two countries that you couldn't invest

1435
01:05:49,160 --> 01:05:52,240
Speaker 2: that started and had limitations on, and that was based

1436
01:05:52,280 --> 01:05:55,760
Speaker 2: on the country where the UK and Canada. Everywhere else

1437
01:05:55,840 --> 01:05:57,280
Speaker 2: is open. It was open for people to wes. We

1438
01:05:57,280 --> 01:05:59,680
Speaker 2: have international investors from overseas and stuff like that. I

1439
01:05:59,680 --> 01:06:03,520
Speaker 2: don't know what regulations prevent you from investing from Canada

1440
01:06:04,240 --> 01:06:07,040
Speaker 2: and the UK, and and those are the two places

1441
01:06:07,040 --> 01:06:07,720
Speaker 2: where people.

1442
01:06:07,480 --> 01:06:09,479
Speaker 3: Were like, man, I want to invest, like I'm right here,

1443
01:06:09,680 --> 01:06:10,400
Speaker 3: like I'm right.

1444
01:06:10,480 --> 01:06:13,000
Speaker 2: I'm not for y'all let me and I just I

1445
01:06:13,040 --> 01:06:15,120
Speaker 2: had no choice, you know, I had no control over that.

1446
01:06:15,680 --> 01:06:17,360
Speaker 5: How many users is on the app right now?

1447
01:06:17,520 --> 01:06:20,600
Speaker 2: Two hundred and fifty thousand.

1448
01:06:21,240 --> 01:06:23,680
Speaker 5: What's your goal for users?

1449
01:06:24,640 --> 01:06:26,600
Speaker 2: I mean, I want to get I want to get

1450
01:06:26,600 --> 01:06:29,320
Speaker 2: to a million users before the end of the summer.

1451
01:06:30,040 --> 01:06:32,600
Speaker 2: And we in the entire time we've we've you know,

1452
01:06:32,600 --> 01:06:35,720
Speaker 2: we've raised six million dollars. Even though we've raised six

1453
01:06:35,800 --> 01:06:38,760
Speaker 2: million dollars, I didn't we haven't done any marketing. So

1454
01:06:38,800 --> 01:06:40,280
Speaker 2: now we're getting to the point in the phase where

1455
01:06:40,320 --> 01:06:43,200
Speaker 2: we're going to do some marketing and do some strategic marketing.

1456
01:06:43,240 --> 01:06:45,520
Speaker 3: But there's a plan to onboard a lot.

1457
01:06:45,400 --> 01:06:47,720
Speaker 2: Of users and and you know, and really have a

1458
01:06:48,360 --> 01:06:50,400
Speaker 2: strong push through the summer. I want to get young.

1459
01:06:51,400 --> 01:06:53,400
Speaker 2: We got we have a creator advisory board of young

1460
01:06:53,480 --> 01:06:57,360
Speaker 2: talent that is geared toward what the app is going

1461
01:06:57,400 --> 01:07:00,480
Speaker 2: to do with creators, and then you know, audio rooms

1462
01:07:00,520 --> 01:07:02,160
Speaker 2: and stuff like that that are happening. So the goal

1463
01:07:02,200 --> 01:07:05,360
Speaker 2: is to get to a million users super super quick

1464
01:07:06,280 --> 01:07:10,160
Speaker 2: and then raise a significant Series A because that'll just

1465
01:07:10,160 --> 01:07:12,720
Speaker 2: give us the capital continue that's what you do even

1466
01:07:12,720 --> 01:07:16,600
Speaker 2: even even investors and and and vcs aren't so much

1467
01:07:16,600 --> 01:07:19,920
Speaker 2: concerned about the revenue because even in startups it's like,

1468
01:07:20,360 --> 01:07:22,840
Speaker 2: you know, you got to figure out monetization, even though

1469
01:07:22,840 --> 01:07:25,439
Speaker 2: monetization is built in. They're more they're more excited about

1470
01:07:25,480 --> 01:07:27,640
Speaker 2: the user base. So I want to focus on the

1471
01:07:27,720 --> 01:07:29,760
Speaker 2: user base. We're making money, We've made a lot of

1472
01:07:29,760 --> 01:07:33,360
Speaker 2: money with fan base, but I want to continue to

1473
01:07:33,360 --> 01:07:37,520
Speaker 2: to scale the user base because that just becomes more advantageous.

1474
01:07:38,240 --> 01:07:43,040
Speaker 9: To the community and vcs. So okay, so is it

1475
01:07:43,200 --> 01:07:45,280
Speaker 9: all right? I get the subscription side of it, but

1476
01:07:45,360 --> 01:07:47,440
Speaker 9: is it still a social side? Like what if you're

1477
01:07:47,480 --> 01:07:50,600
Speaker 9: going on you don't want to follow anybody to pay?

1478
01:07:50,520 --> 01:07:52,920
Speaker 5: Yea, is it still a social It's free, it's free,

1479
01:07:52,960 --> 01:07:53,640
Speaker 5: it's free to follow.

1480
01:07:53,920 --> 01:07:55,280
Speaker 3: There's there's tons of free companies.

1481
01:07:55,440 --> 01:07:59,560
Speaker 5: Is it designed strictly for creatives or is it designed

1482
01:07:59,600 --> 01:08:00,680
Speaker 5: for just general public?

1483
01:08:00,880 --> 01:08:03,320
Speaker 2: This is not for every user. It doesn't it doesn't matter.

1484
01:08:03,360 --> 01:08:05,840
Speaker 2: That's the thing about it. You're going to make money

1485
01:08:05,880 --> 01:08:08,160
Speaker 2: on fan base whether you want to or not. You

1486
01:08:08,200 --> 01:08:11,320
Speaker 2: don't never have to like enter your your debit card

1487
01:08:11,400 --> 01:08:13,680
Speaker 2: or whatever to get paid. You're gonna still go look

1488
01:08:13,680 --> 01:08:15,640
Speaker 2: at your revenue and see some money because somebody's gonna

1489
01:08:15,680 --> 01:08:18,240
Speaker 2: love what you do. That's what I mean by being transactional.

1490
01:08:18,280 --> 01:08:19,840
Speaker 2: Somebody's gonna be like, oh, I'll give you like a

1491
01:08:19,880 --> 01:08:22,000
Speaker 2: couple of pennies for that. And when you think about

1492
01:08:22,000 --> 01:08:25,000
Speaker 2: scaling that over time, because we all don't know what

1493
01:08:25,000 --> 01:08:27,320
Speaker 2: we're going to become, you might somebody might have a

1494
01:08:27,360 --> 01:08:31,000
Speaker 2: really good knack for designing sneakers or dying tennis shoes

1495
01:08:31,080 --> 01:08:33,400
Speaker 2: or whatever, and all of a sudden, people want to know,

1496
01:08:33,439 --> 01:08:34,880
Speaker 2: like how do you die your tennis shoes? And you

1497
01:08:34,920 --> 01:08:37,240
Speaker 2: start making videos about that, and before you know it,

1498
01:08:37,479 --> 01:08:39,920
Speaker 2: you've got a whole business built on the content that

1499
01:08:39,960 --> 01:08:42,280
Speaker 2: you've created. So I just wanted to leave it wide

1500
01:08:42,360 --> 01:08:45,439
Speaker 2: open for you to discover your passion and then if

1501
01:08:45,439 --> 01:08:48,920
Speaker 2: you want to monetize it in the form of conversation,

1502
01:08:49,400 --> 01:08:51,519
Speaker 2: in the form of photo, in the form of long

1503
01:08:51,600 --> 01:08:54,280
Speaker 2: form content like a TV show, you know what I'm saying,

1504
01:08:54,360 --> 01:08:57,600
Speaker 2: Like I imagine, I imagine like how Whatterray did with

1505
01:08:57,680 --> 01:09:01,400
Speaker 2: Black Awkward, Black Girl, but she never sold it to HBOS,

1506
01:09:01,600 --> 01:09:03,960
Speaker 2: so it just eventually became Insecure and she just had

1507
01:09:04,000 --> 01:09:07,280
Speaker 2: subscribers subscribing to Insecure the whole time. Because now She's like,

1508
01:09:07,360 --> 01:09:10,400
Speaker 2: she owns the whole whole thing, and she owned a fab.

1509
01:09:10,720 --> 01:09:12,400
Speaker 2: If they want to come along and license it or

1510
01:09:12,400 --> 01:09:15,000
Speaker 2: buy it or go ahead, but it's mine. It's that

1511
01:09:15,080 --> 01:09:17,960
Speaker 2: Tyler Perry mentality, like own your content first, because you

1512
01:09:18,000 --> 01:09:20,040
Speaker 2: own your content on fanbase. If you if you blow

1513
01:09:20,120 --> 01:09:21,840
Speaker 2: up and somebody wants to come along and say, hey,

1514
01:09:21,840 --> 01:09:23,559
Speaker 2: we want to put the show on ABC, you have

1515
01:09:23,600 --> 01:09:25,200
Speaker 2: a decision to make. You want to sell the ABC

1516
01:09:25,320 --> 01:09:26,880
Speaker 2: or do you want to still own it? Make the

1517
01:09:26,960 --> 01:09:29,800
Speaker 2: line's share of the profit and call the shots. So

1518
01:09:29,920 --> 01:09:34,040
Speaker 2: obviously when you're raising each round, you're collecting the money.

1519
01:09:34,840 --> 01:09:38,599
Speaker 2: With development back into the business, talk about how you're

1520
01:09:38,600 --> 01:09:41,040
Speaker 2: going strategically about adding technologies because I know you don't

1521
01:09:41,040 --> 01:09:42,120
Speaker 2: want to build everything at once.

1522
01:09:42,520 --> 01:09:45,400
Speaker 8: It takes time. And obviously as you're building, other companies

1523
01:09:45,400 --> 01:09:47,960
Speaker 8: are building. So what's that process? Look, I mean it's tough.

1524
01:09:48,080 --> 01:09:51,479
Speaker 2: I mean I think we because we don't have and

1525
01:09:51,479 --> 01:09:54,439
Speaker 2: when I tell people to look like I'll bring I'll

1526
01:09:54,439 --> 01:09:56,200
Speaker 2: do like small focus script when we have people come

1527
01:09:56,200 --> 01:09:57,720
Speaker 2: out office and I'll hand them the app and I'll

1528
01:09:57,760 --> 01:10:03,400
Speaker 2: say how much of this feel like? Current platforms like Instagram, TikTok, Clubhouse,

1529
01:10:03,800 --> 01:10:05,600
Speaker 2: and they'll say, man, this is like I say, on

1530
01:10:05,640 --> 01:10:07,679
Speaker 2: scale of one to ten, they be like eight or nine.

1531
01:10:07,880 --> 01:10:10,080
Speaker 2: I say, okay, we've built this with less than like

1532
01:10:10,439 --> 01:10:12,400
Speaker 2: three and a half million dollars, three million dollars, Like

1533
01:10:12,439 --> 01:10:13,960
Speaker 2: what do you think we could do with thirty five

1534
01:10:14,080 --> 01:10:16,760
Speaker 2: or three hundred million? Right, So that's the thing about it.

1535
01:10:16,840 --> 01:10:22,200
Speaker 2: So I mean, our strategy, like I said, is continue

1536
01:10:23,240 --> 01:10:26,200
Speaker 2: to build the technology that people want, because everybody wants

1537
01:10:26,240 --> 01:10:30,000
Speaker 2: everything now, but you have to build things that also turn.

1538
01:10:29,840 --> 01:10:31,520
Speaker 3: Revenue and create engagement.

1539
01:10:31,800 --> 01:10:34,120
Speaker 2: So we focus on things like short form video because

1540
01:10:34,160 --> 01:10:36,479
Speaker 2: it's super super in gaging audio. Like when you think

1541
01:10:36,479 --> 01:10:40,560
Speaker 2: about platforms, like we in our data in our analytics,

1542
01:10:40,800 --> 01:10:43,519
Speaker 2: the average user spends about forty minutes a day on YouTube,

1543
01:10:43,960 --> 01:10:47,719
Speaker 2: twenty nine on Instagram, about ten to fifteen on TikTok.

1544
01:10:48,120 --> 01:10:52,559
Speaker 2: Because of the audio and video combined. On fan Base,

1545
01:10:52,880 --> 01:10:55,840
Speaker 2: people are spending about an hour and thirty minutes a

1546
01:10:55,920 --> 01:10:57,599
Speaker 2: day hour and twenty minutes a day on the app.

1547
01:10:57,640 --> 01:10:59,120
Speaker 2: Because you can score, you can be in an audio

1548
01:10:59,200 --> 01:11:01,280
Speaker 2: room and roll the app at the same time, so

1549
01:11:01,320 --> 01:11:02,680
Speaker 2: you can use your eyes and your ears at the

1550
01:11:02,720 --> 01:11:04,559
Speaker 2: same time. When you're on audio apps, you typically just

1551
01:11:04,920 --> 01:11:06,840
Speaker 2: listen and look at the phone, Like I said, who's

1552
01:11:06,880 --> 01:11:08,439
Speaker 2: an audience, and then that's kind of that it. But

1553
01:11:08,680 --> 01:11:11,320
Speaker 2: when you can engage with multiple mediums and content at

1554
01:11:11,320 --> 01:11:12,400
Speaker 2: the same time, we do that.

1555
01:11:12,479 --> 01:11:14,400
Speaker 3: So we wanna I call them user tools.

1556
01:11:14,439 --> 01:11:18,520
Speaker 2: We wanna build user tools that allow people to monetize

1557
01:11:18,560 --> 01:11:21,200
Speaker 2: and discover what their abilities are and make sure that

1558
01:11:21,240 --> 01:11:24,479
Speaker 2: those verticals are there while the things that people may

1559
01:11:24,600 --> 01:11:27,120
Speaker 2: want that are not so much geared towards like oh,

1560
01:11:27,120 --> 01:11:31,360
Speaker 2: we want more filters or we want carousels, like, we'll

1561
01:11:31,400 --> 01:11:33,320
Speaker 2: get there, But we have to focus on the things

1562
01:11:33,320 --> 01:11:35,640
Speaker 2: that I know that that the users want, because the

1563
01:11:35,720 --> 01:11:37,800
Speaker 2: users define a platform. You know, there were no there,

1564
01:11:37,960 --> 01:11:40,479
Speaker 2: There wasn't the things retweets. Still people started putting our

1565
01:11:40,520 --> 01:11:42,280
Speaker 2: t and then putting them behind the height and then

1566
01:11:42,280 --> 01:11:43,440
Speaker 2: they just added the functionality.

1567
01:11:43,439 --> 01:11:45,240
Speaker 3: So your community will tell you what it wants and

1568
01:11:45,320 --> 01:11:45,840
Speaker 3: we listen.

1569
01:11:46,360 --> 01:11:48,640
Speaker 2: So whatever whatever it gets sent in the most or

1570
01:11:48,920 --> 01:11:52,800
Speaker 2: of of most urgency, we develop the buildings of the platform.

1571
01:11:52,880 --> 01:11:55,240
Speaker 7: Do y'all have a partnership program? I know like Snoopers.

1572
01:11:55,400 --> 01:11:58,960
Speaker 8: I've seen Snoop promote the brand, perhaps an investor Charlotta Maine,

1573
01:11:59,320 --> 01:12:02,120
Speaker 8: is there like a part program or people hearing about

1574
01:12:02,120 --> 01:12:04,320
Speaker 8: it here say they meet you to talk to you

1575
01:12:04,400 --> 01:12:06,960
Speaker 8: about what the platform is based on, and they say,

1576
01:12:07,000 --> 01:12:07,519
Speaker 8: I want to be a.

1577
01:12:07,439 --> 01:12:08,920
Speaker 7: Part of It's like, what's that process like for you?

1578
01:12:09,040 --> 01:12:09,280
Speaker 3: Yeah?

1579
01:12:09,320 --> 01:12:13,240
Speaker 2: I mean so it's more like, and again I say

1580
01:12:13,280 --> 01:12:15,599
Speaker 2: this all the time, it's more about people just saying, hey,

1581
01:12:15,680 --> 01:12:19,719
Speaker 2: like this is a real chance for us to own

1582
01:12:19,840 --> 01:12:24,600
Speaker 2: and monetize our content, because like, the users make the

1583
01:12:24,680 --> 01:12:27,439
Speaker 2: value of the platform. Everybody left Instagram tomorrow, Instagram me

1584
01:12:27,479 --> 01:12:30,599
Speaker 2: worth zero dollars and zero cents, right, and so they

1585
01:12:31,120 --> 01:12:33,240
Speaker 2: create the value, and so everybody we're in this moment

1586
01:12:33,280 --> 01:12:36,360
Speaker 2: where everybody's so frustrated with shadow banding and all that

1587
01:12:36,400 --> 01:12:38,400
Speaker 2: kind of stuff. Like even when Snoop came on the

1588
01:12:38,400 --> 01:12:41,599
Speaker 2: platform and started using it more is because the day

1589
01:12:41,640 --> 01:12:43,760
Speaker 2: of the Super Bowl, Instagram wouldn't let him go live.

1590
01:12:44,240 --> 01:12:45,920
Speaker 3: So he's like, I'm going to fan base.

1591
01:12:46,240 --> 01:12:49,360
Speaker 2: Right where I can you know, send it out and

1592
01:12:49,400 --> 01:12:52,479
Speaker 2: go there and be live. And what I noticed was

1593
01:12:52,600 --> 01:12:54,439
Speaker 2: whenever we make a move and I said this, I

1594
01:12:54,439 --> 01:12:58,080
Speaker 2: said this before, is like, initially when we were building

1595
01:12:58,640 --> 01:13:01,200
Speaker 2: subscriber based story story that you can put behind the

1596
01:13:01,240 --> 01:13:03,559
Speaker 2: paywall so you don't have stories for followers, and stories

1597
01:13:03,560 --> 01:13:07,719
Speaker 2: for subscribers. Instagram was going to call that functionality fan clubs.

1598
01:13:07,840 --> 01:13:10,240
Speaker 2: I was like, come on, y'all right, they copy everybody,

1599
01:13:10,280 --> 01:13:13,880
Speaker 2: so it's cool, right they want to call it fan clubs.

1600
01:13:14,240 --> 01:13:16,840
Speaker 2: We were changing our price. Our price was three ninety nine.

1601
01:13:17,240 --> 01:13:19,599
Speaker 2: We went from three ninety nine to four ninety nine.

1602
01:13:19,640 --> 01:13:22,840
Speaker 2: Instagram had rolled out a pilot program for subscriptions and

1603
01:13:22,880 --> 01:13:25,519
Speaker 2: giving it to about ten or fifteen people the day

1604
01:13:25,560 --> 01:13:28,360
Speaker 2: that we announced that we were going to four ninety nine.

1605
01:13:28,400 --> 01:13:32,519
Speaker 2: The next week, everybody got subscriptions. Everybody black, I'm sorry.

1606
01:13:32,560 --> 01:13:34,799
Speaker 2: Everybody was on my feet. Subscribe to this person, subscribe

1607
01:13:34,800 --> 01:13:36,240
Speaker 2: to that person. Everybody's like, do you see this?

1608
01:13:36,720 --> 01:13:37,360
Speaker 3: I'm like yeah.

1609
01:13:37,520 --> 01:13:40,280
Speaker 2: I was like, look at this company is raised six

1610
01:13:40,320 --> 01:13:43,840
Speaker 2: million dollars influencing a nine hundred billion dollar market cap

1611
01:13:43,880 --> 01:13:48,280
Speaker 2: company because they know that they've underserved an audience for years,

1612
01:13:48,880 --> 01:13:51,719
Speaker 2: and there's somebody that's stepping in the void to actually

1613
01:13:51,720 --> 01:13:54,720
Speaker 2: feel that that place for users and really allows them

1614
01:13:54,720 --> 01:13:56,320
Speaker 2: to take full advantage of their following.

1615
01:13:58,400 --> 01:14:02,800
Speaker 5: So what's next for fan base? Like, what's your what's

1616
01:14:02,840 --> 01:14:04,320
Speaker 5: your six month, twelve month vision?

1617
01:14:04,600 --> 01:14:06,240
Speaker 3: Yeah, a million users. Series A.

1618
01:14:06,360 --> 01:14:10,240
Speaker 2: We've been getting calls about Series A and I happily

1619
01:14:10,280 --> 01:14:13,040
Speaker 2: accept the phone calls and I think they're they're great

1620
01:14:13,360 --> 01:14:16,240
Speaker 2: and people are interested in So we're just gonna continue

1621
01:14:16,280 --> 01:14:19,479
Speaker 2: to have conversation with vcs and if the right partner

1622
01:14:19,520 --> 01:14:21,839
Speaker 2: comes along, because it's just it's just about the right partner.

1623
01:14:22,120 --> 01:14:24,439
Speaker 2: It's about a person that believes in what we're building,

1624
01:14:24,800 --> 01:14:28,320
Speaker 2: believes in the culture of what we're building, and then

1625
01:14:28,360 --> 01:14:30,320
Speaker 2: we'll continue to scale the platform. I want to be,

1626
01:14:30,680 --> 01:14:32,200
Speaker 2: like I said, I want to be the guy that

1627
01:14:32,320 --> 01:14:36,080
Speaker 2: disrupts so much media because here's the thing that I

1628
01:14:36,080 --> 01:14:39,240
Speaker 2: said about bad Baby, and I think people don't understand

1629
01:14:39,280 --> 01:14:41,960
Speaker 2: what Like I don't people understand understand what she did

1630
01:14:42,520 --> 01:14:45,160
Speaker 2: because she made fifty five million dollars. She's signed to

1631
01:14:45,160 --> 01:14:47,599
Speaker 2: Atlantic Records. Atlantic Records can't pay her fifty five million

1632
01:14:47,640 --> 01:14:49,800
Speaker 2: dollars a year, so when her dealer is up at

1633
01:14:49,800 --> 01:14:54,960
Speaker 2: Atlantic Records, she'd be like, ninety ten, I keep ninety

1634
01:14:55,000 --> 01:14:57,400
Speaker 2: you keep ten. I don't want this fifty to fifty

1635
01:14:57,560 --> 01:14:59,880
Speaker 2: whatever y'all you know, or I'll just go somewhere else

1636
01:15:00,000 --> 01:15:02,640
Speaker 2: and somebody will get rid of that deal. That's leverage,

1637
01:15:03,120 --> 01:15:06,240
Speaker 2: you know. NIL has kicked in for athletes, So the

1638
01:15:06,280 --> 01:15:09,160
Speaker 2: ability for an athlete to build a fan base to

1639
01:15:09,200 --> 01:15:11,519
Speaker 2: monetize it, and then if Nike comes with a deal,

1640
01:15:11,520 --> 01:15:13,280
Speaker 2: he'd be like, I make that a month on subscriptions,

1641
01:15:13,960 --> 01:15:16,479
Speaker 2: put that away. I'm giving leverage. It's like, you know,

1642
01:15:16,560 --> 01:15:20,400
Speaker 2: for talent, for people that do you know TV shows.

1643
01:15:20,400 --> 01:15:23,920
Speaker 2: That's why I say and I said this and shout

1644
01:15:23,960 --> 01:15:26,000
Speaker 2: out to Dre Davis, who works in fan base is

1645
01:15:26,000 --> 01:15:28,360
Speaker 2: a good friend of mine. He remembers when I said this,

1646
01:15:28,520 --> 01:15:31,599
Speaker 2: I sat across from a rapper, a female rapper, and

1647
01:15:31,640 --> 01:15:33,639
Speaker 2: I said this. This was less than a year ago.

1648
01:15:34,080 --> 01:15:37,400
Speaker 2: I said, if you're not monetizing your content today, five

1649
01:15:37,479 --> 01:15:39,559
Speaker 2: years from now, you're going to be out earned by

1650
01:15:39,600 --> 01:15:42,720
Speaker 2: somebody that's less talented than you that decided to do it.

1651
01:15:43,200 --> 01:15:44,439
Speaker 2: And I said, you're gonna walk up one day and

1652
01:15:44,479 --> 01:15:46,679
Speaker 2: somebody said, somebody made a million dollars off. Only fans

1653
01:15:46,680 --> 01:15:49,040
Speaker 2: are a million dollars subscribing. And he was like, it

1654
01:15:49,080 --> 01:15:51,559
Speaker 2: won a million dollars. It was fifty five million dollars

1655
01:15:51,600 --> 01:15:54,519
Speaker 2: And she made more money than Cardi B, Nicki, Minaj,

1656
01:15:55,120 --> 01:15:58,400
Speaker 2: Meg Thee Stallion, all the female rappers Doja Cat can't,

1657
01:15:58,439 --> 01:16:01,120
Speaker 2: nobody diss her can did her? She made fifty five

1658
01:16:01,120 --> 01:16:04,840
Speaker 2: million dollars off one hundred and sixty posts. You can't

1659
01:16:05,240 --> 01:16:07,160
Speaker 2: you can't disser for that. And she didn't get naked,

1660
01:16:07,160 --> 01:16:09,400
Speaker 2: she ain't busting open or nothing. She just went to

1661
01:16:09,439 --> 01:16:11,920
Speaker 2: her fan base and monetized it and made money. So

1662
01:16:12,439 --> 01:16:14,640
Speaker 2: that was that was such a such a moment that

1663
01:16:14,680 --> 01:16:16,680
Speaker 2: I don't think people realized what she did because she

1664
01:16:16,800 --> 01:16:20,599
Speaker 2: triggered the ability for people to say, oh, I again,

1665
01:16:20,920 --> 01:16:23,240
Speaker 2: I'm the I'm the show. You don't make me, I

1666
01:16:23,360 --> 01:16:25,639
Speaker 2: make you. If I decide to pick up and take

1667
01:16:25,680 --> 01:16:30,920
Speaker 2: my talents to fan base, they coming with me. And

1668
01:16:30,960 --> 01:16:34,320
Speaker 2: I think the moment that people realize that in mass

1669
01:16:34,520 --> 01:16:35,880
Speaker 2: these platforms are in trouble.

1670
01:16:36,040 --> 01:16:37,320
Speaker 5: One last thing before we wrap.

1671
01:16:38,000 --> 01:16:40,320
Speaker 6: You mentioned earlier that she was reluctant to shut that

1672
01:16:40,360 --> 01:16:42,720
Speaker 6: out because you didn't want to be looked at as

1673
01:16:42,760 --> 01:16:45,920
Speaker 6: like a black She did come out, y'all vocal and basically,

1674
01:16:46,000 --> 01:16:48,560
Speaker 6: so why did you decide.

1675
01:16:48,200 --> 01:16:48,679
Speaker 3: To do that?

1676
01:16:49,479 --> 01:16:53,439
Speaker 5: And do you think that people look at fan base

1677
01:16:53,520 --> 01:16:53,840
Speaker 5: as a.

1678
01:16:53,760 --> 01:16:55,959
Speaker 3: Black app So two reasons.

1679
01:16:56,600 --> 01:16:59,920
Speaker 2: One at the same time, the Black Lives Matter move

1680
01:17:00,200 --> 01:17:02,160
Speaker 2: happened when you were in middle of COVID and George

1681
01:17:02,160 --> 01:17:04,840
Speaker 2: for what happened, and the protests were going on, and

1682
01:17:04,880 --> 01:17:08,080
Speaker 2: all of a sudden, the tech community, the business community

1683
01:17:08,160 --> 01:17:14,120
Speaker 2: was acceptant, accepting of recognizing the effect that black culture

1684
01:17:14,160 --> 01:17:17,760
Speaker 2: and black people have on the economy and how we've

1685
01:17:17,760 --> 01:17:20,200
Speaker 2: been locked, you know, economically.

1686
01:17:19,560 --> 01:17:23,240
Speaker 3: Out of you know, those those systems.

1687
01:17:23,760 --> 01:17:27,840
Speaker 2: And then to most tech startups, you really you really

1688
01:17:27,880 --> 01:17:31,120
Speaker 2: invest also in the company, but you invest in the founder.

1689
01:17:31,439 --> 01:17:33,479
Speaker 2: And I think for me, I wanted the people to

1690
01:17:33,600 --> 01:17:36,679
Speaker 2: know me and understand that who you were investing in

1691
01:17:37,040 --> 01:17:38,880
Speaker 2: and what product you were getting and the person that

1692
01:17:38,920 --> 01:17:41,160
Speaker 2: had the passion behind what you were doing and what

1693
01:17:41,200 --> 01:17:44,600
Speaker 2: I was doing. So I was very very you know,

1694
01:17:44,720 --> 01:17:48,280
Speaker 2: cool with be in that. Now to that point, again,

1695
01:17:48,760 --> 01:17:54,280
Speaker 2: it's unfortunate that when you know, white people build things,

1696
01:17:54,840 --> 01:17:56,880
Speaker 2: it's perceived that they're built for all people.

1697
01:17:56,920 --> 01:18:00,519
Speaker 3: But when somebody black builds something, there's real luck to that.

1698
01:18:00,720 --> 01:18:05,479
Speaker 2: But what we also know is that wherever the culture goes,

1699
01:18:06,479 --> 01:18:09,320
Speaker 2: everybody follows. It doesn't matter wherever the party is. And

1700
01:18:09,360 --> 01:18:11,439
Speaker 2: I say that, I say, I treat fan base like

1701
01:18:11,479 --> 01:18:13,800
Speaker 2: a nightclub. I said, it's like, right now, fan base

1702
01:18:13,960 --> 01:18:16,240
Speaker 2: is like ten thirty, Like it's cool.

1703
01:18:16,680 --> 01:18:19,360
Speaker 3: You can get right to the bar, it's some girls

1704
01:18:19,360 --> 01:18:20,800
Speaker 3: in here. It's really cool.

1705
01:18:20,840 --> 01:18:24,519
Speaker 2: Whatever but once it hits like one am, everybody's gonna

1706
01:18:24,520 --> 01:18:26,000
Speaker 2: pull up at the same time. It's gonna be like, oh,

1707
01:18:26,000 --> 01:18:28,759
Speaker 2: it's the hottest club in the country. And fan base

1708
01:18:28,920 --> 01:18:33,160
Speaker 2: is the is the rule and not the exception. Companies

1709
01:18:33,200 --> 01:18:36,719
Speaker 2: like Instagram are the exception. Companies like Clubhouse are the exception.

1710
01:18:37,160 --> 01:18:40,559
Speaker 2: When I look at byte Dance, which is TikTok's parent company,

1711
01:18:40,640 --> 01:18:43,880
Speaker 2: or I even look at Patreon, those companies were started

1712
01:18:43,880 --> 01:18:47,479
Speaker 2: in twenty twelve, in twenty thirteen, and it took them

1713
01:18:47,640 --> 01:18:50,000
Speaker 2: years of raising capital and growing their audience to where

1714
01:18:50,040 --> 01:18:52,720
Speaker 2: even people know. People still don't know what Patreon is, right,

1715
01:18:53,080 --> 01:18:55,960
Speaker 2: and they've they've managed to raise I think three hundred

1716
01:18:55,960 --> 01:18:58,439
Speaker 2: million dollars so far, three hundred plus million dollars so far.

1717
01:18:58,840 --> 01:19:01,519
Speaker 2: And byte Dance started out twenty twelve and they become

1718
01:19:01,560 --> 01:19:06,080
Speaker 2: profitable until twenty nineteen. So it's it's usually a long

1719
01:19:06,200 --> 01:19:10,080
Speaker 2: grind of really, you know, building the company. So we're

1720
01:19:10,080 --> 01:19:13,200
Speaker 2: in it for the long haul and we're just ahead

1721
01:19:13,240 --> 01:19:15,760
Speaker 2: of the curve and where everybody else is that right now?

1722
01:19:16,800 --> 01:19:20,280
Speaker 6: So how can people follow you? How can they sign

1723
01:19:20,360 --> 01:19:22,800
Speaker 6: up to the app? What's all the information can they

1724
01:19:23,160 --> 01:19:25,839
Speaker 6: is the still raising money?

1725
01:19:26,479 --> 01:19:28,160
Speaker 3: No so we've closed both of our rounds.

1726
01:19:28,640 --> 01:19:31,599
Speaker 2: I can't tell if I'm going to raise another round

1727
01:19:31,600 --> 01:19:32,679
Speaker 2: to the public because that's illegal.

1728
01:19:32,720 --> 01:19:34,240
Speaker 3: Everybody said, are you gonna raise on the round?

1729
01:19:34,560 --> 01:19:36,640
Speaker 2: Can't say you can only announce a raise once a

1730
01:19:36,720 --> 01:19:40,760
Speaker 2: raise is live. So if I do, I'll come back

1731
01:19:40,760 --> 01:19:42,559
Speaker 2: here and tell y'all. I know a lot of people

1732
01:19:42,600 --> 01:19:45,519
Speaker 2: hear about it, and come do that. I'll do that.

1733
01:19:47,000 --> 01:19:50,160
Speaker 2: You can find me on fan Base. It's on iOS

1734
01:19:50,160 --> 01:19:53,000
Speaker 2: and Android. It's free to download, free to you. That's

1735
01:19:53,000 --> 01:19:55,000
Speaker 2: what I tell everybody. It's like, it doesn't it doesn't

1736
01:19:55,040 --> 01:19:58,679
Speaker 2: cost anything to use the platform at all. And I'm

1737
01:19:58,760 --> 01:20:01,640
Speaker 2: isaacase three on those platform So I aac h A

1738
01:20:01,800 --> 01:20:06,439
Speaker 2: y s and number three on Instagram, Twitter and fan Base,

1739
01:20:06,520 --> 01:20:08,559
Speaker 2: especially because I don't really post. I kind of post

1740
01:20:08,640 --> 01:20:12,120
Speaker 2: like about fan Base on my other socials, but I

1741
01:20:12,160 --> 01:20:15,240
Speaker 2: put what I do, what I eat, how I live,

1742
01:20:15,280 --> 01:20:16,320
Speaker 2: what I'm doing on fan.

1743
01:20:16,200 --> 01:20:17,920
Speaker 3: Base because that's that's where we at.

1744
01:20:18,720 --> 01:20:20,880
Speaker 2: And Twitter and twitters, and I say this Twitter to

1745
01:20:20,920 --> 01:20:24,040
Speaker 2: all the people that do make content. Your stories on

1746
01:20:24,120 --> 01:20:26,800
Speaker 2: Instagram and Twitter are your most valuable pieces of IP.

1747
01:20:27,080 --> 01:20:29,519
Speaker 2: That's where you can get the most traction and the

1748
01:20:29,560 --> 01:20:31,280
Speaker 2: most potential varility of what you.

1749
01:20:31,200 --> 01:20:33,600
Speaker 3: Do everywhere else TikTok.

1750
01:20:34,000 --> 01:20:37,200
Speaker 2: They're the most disloyal audience by way of they they

1751
01:20:37,240 --> 01:20:39,160
Speaker 2: just want people want to see this videos and be entertained,

1752
01:20:39,200 --> 01:20:41,160
Speaker 2: so they're not really attached to the user. They just

1753
01:20:41,160 --> 01:20:42,600
Speaker 2: want to be entertained, like what you got to do

1754
01:20:42,680 --> 01:20:44,560
Speaker 2: for fifteen seconds in this or one minute in this

1755
01:20:44,720 --> 01:20:46,800
Speaker 2: video dance. But if you really want to get to

1756
01:20:46,840 --> 01:20:48,640
Speaker 2: know the nuts and bolts of the persons in their

1757
01:20:48,720 --> 01:20:53,400
Speaker 2: real life, then content platforms like fan base that allow

1758
01:20:53,439 --> 01:20:55,560
Speaker 2: people to post photos and videos and give you a

1759
01:20:56,040 --> 01:20:58,120
Speaker 2: more inside look at what's going on is where it's

1760
01:20:58,120 --> 01:20:58,599
Speaker 2: going to be at.

1761
01:20:58,640 --> 01:21:01,479
Speaker 3: But Twitter also because again it's the.

1762
01:21:01,560 --> 01:21:05,120
Speaker 2: Only evergreen social media platform in my opinion, every social

1763
01:21:05,160 --> 01:21:08,240
Speaker 2: media platform has a lifespan, right including fan mase who

1764
01:21:08,280 --> 01:21:11,639
Speaker 2: have a lifespan. So all these platforms are defined by

1765
01:21:11,680 --> 01:21:14,960
Speaker 2: the generation that use them. Twitter is defined by what's

1766
01:21:15,000 --> 01:21:17,719
Speaker 2: happening right now, like who won the game?

1767
01:21:18,320 --> 01:21:22,000
Speaker 3: Who got divorced? Who? What? What is what's going on

1768
01:21:22,040 --> 01:21:23,880
Speaker 3: in Congress? Like right now?

1769
01:21:23,920 --> 01:21:26,599
Speaker 2: So I think it's evergreen, and that's why a lot

1770
01:21:26,640 --> 01:21:29,400
Speaker 2: of young kids use Twitter. Like young people flock the Twitter.

1771
01:21:30,040 --> 01:21:34,760
Speaker 2: They're still like what's happening at the Yeah, that's what

1772
01:21:34,800 --> 01:21:36,760
Speaker 2: makes that's that's the genius. That's when I say every

1773
01:21:36,760 --> 01:21:39,760
Speaker 2: app you have that aha moment like oh this is

1774
01:21:39,840 --> 01:21:42,280
Speaker 2: like you know, this is like the dark night where

1775
01:21:42,680 --> 01:21:45,320
Speaker 2: if something happens, it's like multiple angles of what's going on.

1776
01:21:45,360 --> 01:21:47,320
Speaker 2: So this is my version of what happened. This is

1777
01:21:47,360 --> 01:21:49,320
Speaker 2: my version, and it all comes together and paints this

1778
01:21:49,400 --> 01:21:51,840
Speaker 2: picture of what what really happens. So I think it's

1779
01:21:51,960 --> 01:21:55,000
Speaker 2: I think it's a genius platform. Eli's gonna's gonna turn

1780
01:21:55,080 --> 01:21:55,360
Speaker 2: up on it.

1781
01:21:55,400 --> 01:21:55,880
Speaker 3: You know what I'm saying.

1782
01:21:55,880 --> 01:21:57,479
Speaker 2: He gonna make it pop, hes gonna he gonna put

1783
01:21:57,640 --> 01:22:00,000
Speaker 2: I think he's gonna bring those I said. I think

1784
01:22:00,000 --> 01:22:02,280
Speaker 2: he gonna bring Doge into Twitter. So if you got Doge,

1785
01:22:02,479 --> 01:22:04,880
Speaker 2: even though it's in the toilet right now, fall onto it.

1786
01:22:05,040 --> 01:22:07,200
Speaker 2: The Doge Father. Yeah, the Doge Father. I think he's

1787
01:22:07,200 --> 01:22:09,000
Speaker 2: gonna blow that up. But yeah, that's where you can

1788
01:22:09,040 --> 01:22:11,400
Speaker 2: That's where you can find me. Though I'm on fan base, y'all,

1789
01:22:11,479 --> 01:22:13,760
Speaker 2: but y'all should come to Fambly, y'all should start doing

1790
01:22:13,880 --> 01:22:15,400
Speaker 2: like we need to find a way to get y'all

1791
01:22:15,439 --> 01:22:17,400
Speaker 2: do some really dope audio rooms on fan Base. We'll

1792
01:22:17,439 --> 01:22:19,800
Speaker 2: find some ways a part of what y'all and maybe

1793
01:22:19,800 --> 01:22:23,160
Speaker 2: have some conversations with some people because I think people

1794
01:22:23,320 --> 01:22:25,400
Speaker 2: like to have access to Because we're about to launch,

1795
01:22:25,760 --> 01:22:28,519
Speaker 2: we're about to watch subscriber based audio rooms too, so

1796
01:22:28,560 --> 01:22:30,840
Speaker 2: I know, so people have to subscribe to get into

1797
01:22:30,840 --> 01:22:33,320
Speaker 2: your audio rooms. So if EYL wants to have subscriber

1798
01:22:33,320 --> 01:22:36,600
Speaker 2: based audio rooms and you have thousands of subscribers or

1799
01:22:36,680 --> 01:22:38,960
Speaker 2: hundreds of thousands subscribers to come in here, y'all talk,

1800
01:22:39,600 --> 01:22:43,400
Speaker 2: that's something we can do. We'll be the face of

1801
01:22:43,400 --> 01:22:43,880
Speaker 2: the campaign.

1802
01:22:44,640 --> 01:22:48,559
Speaker 9: Hey, I love it absolutely, Troy House, keep up.

1803
01:22:48,600 --> 01:22:51,000
Speaker 8: Shout everybody on fan base, Shout to everybody on that

1804
01:22:51,080 --> 01:22:52,960
Speaker 8: other company, you know, Shout everybody on patri you all

1805
01:22:53,000 --> 01:22:56,240
Speaker 8: our patrons, everybody in EYL University, all our earners, over

1806
01:22:56,600 --> 01:22:59,800
Speaker 8: twelve thousand people that are subscribed and executing on if

1807
01:22:59,800 --> 01:23:01,640
Speaker 8: it may, but not only that, passing it on to

1808
01:23:01,680 --> 01:23:05,280
Speaker 8: the next generation and changing lives forever. So shout out

1809
01:23:05,280 --> 01:23:07,120
Speaker 8: to all of y'all, Shout to everybody in the merch team,

1810
01:23:07,160 --> 01:23:08,360
Speaker 8: Shout out to the entire.

1811
01:23:08,280 --> 01:23:10,120
Speaker 3: Atlanta, the city of Atlanta.

1812
01:23:10,160 --> 01:23:13,240
Speaker 8: We are here, obviously, this is our second home, UH Studios,

1813
01:23:13,240 --> 01:23:16,320
Speaker 8: obviously looking impeccable. Uh so, shout out to Mike and

1814
01:23:16,520 --> 01:23:18,559
Speaker 8: Ben and Smitty our team down here.

1815
01:23:18,840 --> 01:23:19,360
Speaker 3: Love is love.

1816
01:23:19,800 --> 01:23:21,720
Speaker 5: Thank you guys rocking with us to see you next week.

1817
01:23:21,800 --> 01:23:28,639
Speaker 4: Peace, Peace, my graduates from my school being forced back.

1818
01:23:28,800 --> 01:23:35,599
Speaker 4: Drop Bag Drop, Mike Drop.

1819
01:23:44,320 --> 01:23:48,200
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