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Speaker 1: Welcome to Tech Stuff, a production from I Heart Radio.

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Speaker 1: Hey there, and welcome to tech Stuff. I'm your host,

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Speaker 1: John in Strickland. I'm an executive producer with I Heart Radio,

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Speaker 1: and how the tech are you here? In the United States?

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Speaker 1: It is currently Memorial Day, which means that we're not

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Speaker 1: in the office today, So I was going to play

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Speaker 1: a rerun, but I thought maybe we'd try something a

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Speaker 1: little different. Uh. Some of you may know that a

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Speaker 1: couple of years ago, I used to host a show

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Speaker 1: with Ariel Casting called Business on the Brink, and we

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Speaker 1: covered businesses that had kind of a pivotal moment where

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Speaker 1: either they made some choices that got them out of

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Speaker 1: severe trouble or they descended into chaos. And it was

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Speaker 1: a fun series to do. We did it for a

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Speaker 1: couple of years, and I thought it would be great

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Speaker 1: to play one of those episodes today. So what you're

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Speaker 1: about to hear is a Business on the Brink episode

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Speaker 1: which originally published on July two thousand nineteen. It is

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Speaker 1: called Chilling Out with the Coolest Cooler and I hope

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Speaker 1: you enjoy. Ryan Grepper was sure he knew how to

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Speaker 1: beat the heat with an innovative approach to the old

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Speaker 1: beach stand by the drinks cooler. He added some bells

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Speaker 1: and whistles, updating the frosty concept with some techy bonus features.

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Speaker 1: To get things moving, he launched a crowdfunding campaign that

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Speaker 1: was incredibly successful and earned a lot of ice, but

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Speaker 1: soon found out that manufacturing a new product isn't easy

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Speaker 1: and the whole process ended up leaving a lot of

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Speaker 1: early supporters out in the cold. This is the coolest

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Speaker 1: cooler on the brink, Hey, guys on Jonathan and I'm

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Speaker 1: Ariel Casting, and thank you Bill Jeffers for giving us

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Speaker 1: this awesome suggestion. Yeah, yeah, this is a one that

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Speaker 1: I have covered on my show Text Stuff a little bit.

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Speaker 1: I did an episode about some of crowdfunding's biggest successes

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Speaker 1: and failures, and spoiler alert, coolest cooler falls into the

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Speaker 1: latter category. Yeah, sadly. Sadly because I think the concept

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Speaker 1: is really cool. Yeah, we're going to be saying cool

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Speaker 1: a lot and not meaning it in a punny way.

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Speaker 1: But if you want to interpret it as a pun,

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Speaker 1: feel free. Yes, but no, I if I were not

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Speaker 1: so thrifty, I was about to say cheap, but I'm

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Speaker 1: going to say thrifty. I would have wanted to back this.

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Speaker 1: A lot of people did. Lots of people backed this

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Speaker 1: product so much so that not to skip ahead too much,

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Speaker 1: but it would become one of the most successful Kickstarter

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Speaker 1: campaigns in history. We'll get to that. But as it

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Speaker 1: turns out, as as we alluded to in the introduction,

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Speaker 1: things did not go smoothly, and it was largely a

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Speaker 1: thing due to innocent naivete. There was a lot of

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Speaker 1: of of underestimating exactly how hard it is to mass

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Speaker 1: produce a brand new product. I'd have to agree with you, Jonathan.

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Speaker 1: So let's get into a little bit of how this

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Speaker 1: product came about. This coolest cooler. It was launched in

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Speaker 1: two thousand thirteen by Ryan Grepper from Portland, Oregon. He

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Speaker 1: used to be a medical sales rep uh and he

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Speaker 1: was a self described inventor since two thousand six, which

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Speaker 1: is I believe around the time that this products started

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Speaker 1: taking form. He's also um He's still listed as a

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Speaker 1: member of the CNBC Tech Crowd Council, which is made

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Speaker 1: up of people who have done a successful crowdfunding campaigns. Yes,

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Speaker 1: his campaign was successful. Yes for the crowd funding part.

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Speaker 1: It's kind of surprised to see him still on there.

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Speaker 1: But spoiler alert, guys, coolest Cooler is still around, but

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Speaker 1: Ryan Grepper's reputation has taken an enormous beating in the process.

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Speaker 1: And so so his idea initially started off as a

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Speaker 1: pair of ideas before it merged into transformer, like what

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Speaker 1: the coolest cooler would be? Right? Yeah, he tried to

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Speaker 1: make a portable blender from a weed whacker, and then

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Speaker 1: he made a cooler with the car stereo in it. Uh.

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Speaker 1: And then after he made these these initial prototypes, he

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Speaker 1: was like, well, I need to make them smaller so

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Speaker 1: I can bring them places. And he got the inspiration

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Speaker 1: that if he made it smaller, he could sell it.

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Speaker 1: And his idea was for the cooler to be a

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Speaker 1: place where people gather, to have all the things that

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Speaker 1: make a space somewhere you'd want to hang out. And

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Speaker 1: according to c NBC, his early experiments to compile all

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Speaker 1: these things together didn't work. So well, yeah, I just

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Speaker 1: have this in my imagined y. Now, I know this

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Speaker 1: isn't what it actually looked like, but in my imagination,

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Speaker 1: you have like an iglue uh style cooler with a

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Speaker 1: car stereo duct taped onto it. Like that's how I

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Speaker 1: imagine these early versions being that's how I'd do it,

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Speaker 1: just just say it. But the whole idea was, you know,

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Speaker 1: you've been to plenty of parties, you've hosted parties. You

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Speaker 1: note as well as I do, that often a central

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Speaker 1: gathering point for a party ends up being the kitchen.

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Speaker 1: It's it's kind of it's where the food is, be

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Speaker 1: is where the drinks are. People tend to hover there

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Speaker 1: and then sooner or later a party kind of just

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Speaker 1: it's centered there. It might spin off in other places.

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Speaker 1: So this was kind of the same concept was that

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Speaker 1: if you have all of these elements in a cooler

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Speaker 1: and your outdoors, the cooler becomes kind of the central

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Speaker 1: focal point for the party. Yeah, and he had an

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Speaker 1: initial setup for the cooler, but by the end of

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Speaker 1: his Kickstarter campaigns plural uh his cooler. His coolest cooler

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Speaker 1: would include a USB charging station, a blender for crushing ice,

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Speaker 1: a waterproof bluetooth speaker, watch aproof bluetooth speaker and l

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Speaker 1: e ed light for the lid, dinner wear and storage

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Speaker 1: for it, a cutting board, a bottle opener, and all

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Speaker 1: terrain wheels like a bungee cord thingy and a little

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Speaker 1: hidy spot for your keys and phone. Yeah. Also it

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Speaker 1: was cooler. Yeah, it would be kind of ridiculous if

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Speaker 1: he made this cooler with all these bells and whistles

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Speaker 1: that didn't actually keep your beverages. It reminds me of

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Speaker 1: the trend it was before even smart watches, but the

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Speaker 1: trend where watches were including more and more features, and

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Speaker 1: the standard joke was what's the time and then the

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Speaker 1: person time exactly? That was? That was that was That's

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Speaker 1: a longstanding joke in technology of seen it in like

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Speaker 1: you know, comic strips and things like that, same sort

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Speaker 1: of thing, like if you had ended up with the

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Speaker 1: coolest cooler that couldn't actually keep food cold, that would

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Speaker 1: be ridiculous. So he initially launched a crowdfunding campaign in

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Speaker 1: November two thousand thirteen, and he was targeting a specific

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Speaker 1: kind of of market. He was thinking about people who

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Speaker 1: liked tailgating, and he was timing it to go along

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Speaker 1: with the holiday Christmas shopping uh season. I mean you

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Speaker 1: think that would be a smart move, right, yeah, But

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Speaker 1: it turns out it didn't. It didn't quite pan out.

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Speaker 1: He did not make his goal on that. Yeah, he

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Speaker 1: was seeking a hundred twenty five thousand dollars, and he

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Speaker 1: ultimately raised uh well, the campaign met a hundred two

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Speaker 1: thousand from two backers. But the way kickstarter works is

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Speaker 1: it's an all or nothing proposal. You either make your goal,

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Speaker 1: or you get and you get whatever you make plus over,

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Speaker 1: or you make not thing at all. So if you

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Speaker 1: have a goal of fifty thou dollars and you only

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Speaker 1: hit twenty thousand dollars, nobody gets charged, no money changes hands,

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Speaker 1: and your campaign fails. If you make fifty, then everyone

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Speaker 1: gets charged however much they pledged. You get your fifty

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Speaker 1: dollars minus kickstarters cut, which I think is five percent

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Speaker 1: of the actual money earned, and if it makes more

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Speaker 1: than fifty thou dollars, then you get more than what

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Speaker 1: you had set as your goal. Kickstarter obviously has a

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Speaker 1: strong incentive to promote the the campaigns that are doing well. Like,

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Speaker 1: if there's a lot of buzz, it makes a lot

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Speaker 1: of sense for a kick started to kind of put

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Speaker 1: those closer to the front thing they get exactly. Yeah,

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Speaker 1: so if it's a really successful one, then kicks Started

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Speaker 1: gets some bigger cut, because I mean it's still five percent,

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Speaker 1: but it's five percent of a much larger number. And

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Speaker 1: so that first one didn't work out so well. But

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Speaker 1: the second Kickstarter campaign was a different story. Yeah, his

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Speaker 1: second campaign launched on July eighth. He said a smaller goals,

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Speaker 1: which just from the get go that seems problematic to me.

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Speaker 1: If you need two dred and fifty dollars to create

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Speaker 1: your coolers, don't set a lower goal so you meet

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Speaker 1: your goal unless you're specifically thinking, I'm gonna start with

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Speaker 1: a very small shipment, like if you if you still

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Speaker 1: kept the price point for your cooler at the same level,

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Speaker 1: but you thought I'll make a smaller batch, then that

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Speaker 1: might work out. But as it turns out, that's not

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Speaker 1: what happened. No, no, So first I want to say

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Speaker 1: it shows you how small Ryan was thinking, because at

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Speaker 1: his cheapest donation amount five dollars, you gotta thanks in

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Speaker 1: the promise of having your name written on Ryan's personal cooler.

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Speaker 1: Court cooler can only hold so many names unless you're

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Speaker 1: like one of those grain of Rice writers. And even then,

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Speaker 1: um and then the highest level, if you donated two

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Speaker 1: thousand dollars or more, Ryan would come be your personal

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Speaker 1: bartender for an event in your hometown and give you

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Speaker 1: one of the first coolers. So and he would sign

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Speaker 1: that one, and he didn't have any of space. Yeah,

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Speaker 1: and so you look at this and you go obviously

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Speaker 1: he was thinking he'd get a moderate amount of backers

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Speaker 1: two hundred and eighty or so like his first campaign,

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Speaker 1: maybe a little bit more because he can't travel to

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Speaker 1: that many people's hometowns. And and he he had earned

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Speaker 1: more than a hundred thousand dollars had the campaign succeeded

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Speaker 1: in the previous example. So even if he got twice

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Speaker 1: as many, you know, you're still thinking, all right, a

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Speaker 1: hundred thousand, maybe two hundred thousand dollars, that's more or

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Speaker 1: less on what he on par with what he was

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Speaker 1: looking at for the first time through. So he was

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Speaker 1: he was thinking, let's try this, and he he decided

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Speaker 1: to launch it at a different time of year, yeah,

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Speaker 1: because he was looking at the summer. He was launching

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Speaker 1: it right around you know, just after the fourth of

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Speaker 1: July weekend. You're talking about prime beach going outdoor grilling

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Speaker 1: kind of of time frame here. It's when people are

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Speaker 1: going outside and doing these activities where they need to

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Speaker 1: have a big cooler or wanting a cooler they can

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Speaker 1: crawl into and hide from the hot Georgia summer. Yeah,

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Speaker 1: especially Yeah, once you get into the heat and humidity here,

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Speaker 1: you're looking for any relief available. Yeah. He estimated that

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Speaker 1: the final retail cost of the Coolest Cooler. This is

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Speaker 1: from the Kickstarter page, which, by the way, is still

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Speaker 1: it's still something you can visit. You can go and

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Speaker 1: check out the Kickstarter page for this, uh this particular campaign.

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Speaker 1: Kickstar keeps them all. It's no longer certain parts of

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Speaker 1: the page you cannot access unless you have donated. Yes,

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Speaker 1: there there are messages that go out just to backers,

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Speaker 1: so if you are a backer, you have access to those,

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Speaker 1: But the public facing page is still available. So he

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Speaker 1: estimated that the final retail cost for the Coolest Cooler

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Speaker 1: was going to be two uh So, three hundred dollars

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Speaker 1: for a cool or seems like a hefty price tag,

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Speaker 1: but as it turns out, it was also an underestimation

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Speaker 1: of how much he would need to charge for that

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Speaker 1: particular invention. I do want to say, I went online

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Speaker 1: and I did a little bit of research. Some super

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Speaker 1: high end, super large coolers do cost hundreds of dollars,

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Speaker 1: so it's not a completely unreasonable price. It's more than

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Speaker 1: I probably would want to pay for a cooler. Yeah,

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Speaker 1: I mean, like, so there are products that cater to

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Speaker 1: people who have way more money than you and I

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Speaker 1: do and not very much idea of what to spend

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Speaker 1: it on. I'll put it that way. That's not it's

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Speaker 1: not to say that those those products are no good

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Speaker 1: or that they're only marginally better than say, a decent

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Speaker 1: cooler would run you. I don't know. There are some

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Speaker 1: of them may be truly incredible and be much more

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Speaker 1: efficient and managing you know, heat and all that kind

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Speaker 1: of stuff. I don't know. But uh. He also on

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Speaker 1: that campaign had an offer where if you were one

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Speaker 1: of the first fifty people to pledge, you could pledge

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Speaker 1: a hundred sixty five dollars and get a reserved coolest

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Speaker 1: cooler of your own. Uh. Those fifty slots disappeared almost immediately,

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Speaker 1: no surprise. Yeah, well, one cooler is a lot more palatable. Yeah. So, then,

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Speaker 1: because they went so fast, and because the West coast

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Speaker 1: had not even had an opportunity to look at it,

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Speaker 1: because the campaign went live before most people on the

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Speaker 1: West coast of the United States had even woken up,

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Speaker 1: he decided to release another group, this time just twenty

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Speaker 1: slots for more early bird coolers, and those went super

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Speaker 1: fast to the next amount you could pledge. Let's say

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Speaker 1: you missed out on those seventy, which wouldn't be a

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Speaker 1: big surprise. I mean, they did go super fast. Your

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Speaker 1: next option would be to pledge at a level of

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Speaker 1: a hundred eighty five dollars or more, and that would

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Speaker 1: put you on the reservation list for your own coolist cooler.

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Speaker 1: So again you're you're still looking at a hundred fifteen

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Speaker 1: dollars off the projected a retail price. You would then

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Speaker 1: also have to kick in fifteen dollars for shipping, which

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Speaker 1: would you could argue push the the price tag for

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Speaker 1: the coolest cooler to two hundred dollars. And that's how

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Speaker 1: most websites refer to it, like it was a two cooler.

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Speaker 1: Yeah still not still not horrible, Still a pretty big discount. Um.

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Speaker 1: I think it was so popular because he took lessons

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Speaker 1: that he learned from his first Kickstarter and and really

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Speaker 1: marketed the second one well. He reached out to previous

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Speaker 1: backers and enthusiasts through email, he hit up social media,

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Speaker 1: and he did live events all prior to actually launching

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Speaker 1: this campaign, So anybody who was already excited about it

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Speaker 1: would then be excited at their friends about it. Yeah,

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Speaker 1: they would tell people, Oh, you know, I tried to

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Speaker 1: back this last time. It didn't work out. You guys

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Speaker 1: should get done on this, because think how incredible this

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Speaker 1: is gonna be. And then it worked because some news outlets,

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Speaker 1: mostly local ones, were starting to pick get up, and

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Speaker 1: this would increase as the campaign would launch, and in

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Speaker 1: fact it would turn into a frenzy when the campaign

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Speaker 1: was starting to get truly successful. So it became a

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Speaker 1: a self perpetuating cycle, right because the campaign started picking

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Speaker 1: up steam, it was getting a lot of backers that

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Speaker 1: in turn was notable enough to get the attention of

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Speaker 1: the media that hadn't already covered this, which brought even

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Speaker 1: more people to back it. So it started to kind

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Speaker 1: of become a spinning boulder down the hill situation. Well,

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Speaker 1: and it became a spinning baller quickly. It beat its

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Speaker 1: school in four days. Within four days, that had made

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Speaker 1: three point two million dollars. Yeah, that's a lot more

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Speaker 1: than a whole lot, And by the end of the

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Speaker 1: two month campaign it had raised million, two hundred two

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Speaker 1: hundred and twenty six dollars from over sixty thousand backers,

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Speaker 1: and once it beat out Pebbles Watch as the most

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Speaker 1: successful kickstarter of all time at that time, it got

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Speaker 1: a ton more press coverage. Time magazine even named it

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Speaker 1: one of the best inventions of two thousand fourteen. Yeah,

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Speaker 1: they did this in two thousand fourteen. Um is before

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Speaker 1: before this had really even had a chance to prove itself.

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Speaker 1: And so then they began to work on finalizing the

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Speaker 1: actual design of the products. And now they got the

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Speaker 1: money to go into the process of making the thing. Yeah,

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Speaker 1: and they worked with a studio, Fathom to get their

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Speaker 1: prototype out, which had fifty five parts in it. Um

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Speaker 1: And this is so that Time Magazine could photograph it

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Speaker 1: for the article. Yeah. It's hard to take pictures of

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Speaker 1: a thing that's largely theoretical. Yeah, I mean they had

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Speaker 1: pictures of the original design of the cooler, but this

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Speaker 1: was redesigned. So um and and through all this, so

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Speaker 1: he has this successful campaign. Ryan thought he had planned

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Speaker 1: appropriately for supply and logistics ahead of time. He thought

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Speaker 1: he had sourcing partners in place based on the money

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Speaker 1: that he made, and he was so optimistic that he

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Speaker 1: figured unlike of crowdfunding campaigns that face delays, he would

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Speaker 1: be able to avoid them. Yeah he was wrong, and

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Speaker 1: yeah he was wrong. He had planned on starting to

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Speaker 1: deliver coolers by February two fifteen. But if you know

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Speaker 1: anything about this story, you know that was far too optimistic.

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Speaker 1: And if you don't know anything about this story, we'll

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Speaker 1: tell you about it. But first we're going to take

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Speaker 1: a quick break. Al right. So Grebber has this crowdfunding campaign.

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Speaker 1: It is monumentally successful and as an enormous following lots

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Speaker 1: of enthusiastic backers who just can't wait to get their

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Speaker 1: hands on this cooler that can do everything, uh that

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Speaker 1: you can imagine and be prepared to live their best

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Speaker 1: beach clad lives. The cooler cannot do everything you could imagine.

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Speaker 1: I don't think it could walk a puppy for you,

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Speaker 1: nor could it actually transport you to the beach, but

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Speaker 1: just about everything else, everything, Yeah, you're so, what happened? Well,

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Speaker 1: he immediately started to encounter issues in manufacturing. And this

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Speaker 1: is a good time to remember that manufacturing has got

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Speaker 1: a lot of moving pieces, right, You've got your whole

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Speaker 1: supply chain. Now, it's one thing if you're making a

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Speaker 1: relatively simple product, where the supply chain is is pretty linear,

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Speaker 1: where you know you've you've got You get the raw

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Speaker 1: materials from one place, it goes into a manufacturing facility

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Speaker 1: and then goes into the shipping department of that facility,

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Speaker 1: and then it goes out to customers. That's really simple.

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Speaker 1: But the coolest cooler had a lot of different parts

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Speaker 1: to it. It had these speakers, it had the USB

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Speaker 1: charging outlets, it had a motor for the blender. Yeah,

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Speaker 1: it's got all these different parts and they were coming

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Speaker 1: from different places, which means if there's a delay and

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Speaker 1: any part of that supply chain, it delays the overall product.

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Speaker 1: And there was so the manufacturing facility in China that

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Speaker 1: made the blender motor, which there was one place that

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Speaker 1: he sourced for this one place, only he had no

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Speaker 1: backups because his specifications for this blender motor were so

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Speaker 1: high he wanted to be really good production. Um, they

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Speaker 1: went on strike and so it stopped his entire his

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Speaker 1: entire line of assembly, which also took a really long

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Speaker 1: time because they had fifty five parts, a lot of

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Speaker 1: which had to be hand assembled. Now, if you've ever

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Speaker 1: looked at the Coolest Cooler online, like if you've gone

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Speaker 1: to Amazon, where you can still see coolest coolers listed,

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Speaker 1: although if you want one of the classic ones, typically

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Speaker 1: you're looking at buying it from a reseller. But if

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Speaker 1: you look at it, you'll see that there are a

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Speaker 1: couple of different configurations. There's one version of the Coolest

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Speaker 1: Cooler that has a regular top, doesn't have the blender part,

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Speaker 1: and it's significantly cheaper than the one that comes with

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Speaker 1: the blender. Well, the one that was on the Kickstarter page,

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Speaker 1: the one that the backers backed specifically mentioned that the

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Speaker 1: blender was part of it, So that was a big issue.

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Speaker 1: With the the supply chain for the blender motor all

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Speaker 1: all uh screwed up. It really put him behind. But

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Speaker 1: even still he was estimating that by September. By September

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Speaker 1: he could get everybody their coolers, and that did not

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Speaker 1: happen either, not at all. Um everything was a lot

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Speaker 1: more expensive then he anticipated. Yeah, so that final retail

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Speaker 1: price turned out to be too low. That and in fact,

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Speaker 1: he said this over and over again. So one of

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Speaker 1: the biggest problems he had was that he had underestimated

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Speaker 1: how expensive it would be to produce these coolers, and

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Speaker 1: that it was an issue where if you did the math,

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Speaker 1: there was no way around it. You were going to

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Speaker 1: lose money on those Kickstarter orders like there was. This

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Speaker 1: was beyond selling things at cost where you're just covering

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Speaker 1: the expense of the materials and labor to put to

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Speaker 1: the product together. Now you're actually taking a bath on

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Speaker 1: those sales. And I mean, it does not take a

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Speaker 1: business major to tell you that you can't stay in

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Speaker 1: business that way. You you're bleeding money being in business.

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Speaker 1: You cannot You can't make it up in volume. That's

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Speaker 1: just gonna bleed you out faster. So this is where

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Speaker 1: he had to start figuring out what do I do

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Speaker 1: about this? Well, he had another idea that again kind

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Speaker 1: of makes sense but also made a lot of people angry.

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Speaker 1: He decided to sell his cooler on Amazon because that

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Speaker 1: way he could sell it at a higher price than

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Speaker 1: what he listed on Kickstarter and make up some profit

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Speaker 1: on the coolers and then use that money on making

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Speaker 1: and shipping these individual coolers to people to get all

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Speaker 1: of the coolers for all the Kickstarter people to them. Yeah,

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Speaker 1: because he didn't have the money to do it. Yeah.

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Speaker 1: So essentially this was the reason this caused such a

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Speaker 1: fuss is that the people who were backing it on Kickstarter.

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Speaker 1: I can't speak for every body, but I notice in

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Speaker 1: general that a lot of people act like Kickstarter is

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Speaker 1: an early access store. That's not what Kickstarter is. You're

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Speaker 1: an investor in an idea, yeah, and you sometimes investments

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Speaker 1: don't pay off. I mean, we've done plenty of episodes

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Speaker 1: of the Brink where that has turned out to be true.

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Speaker 1: You've backed some some campaigns that didn't. Let's not go

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Speaker 1: into my personal history and how many watches I have

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Speaker 1: backed that never came out. But the campaigns are successful,

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Speaker 1: Yes they were. I think there are three different watch

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Speaker 1: campaigns I backed that did not ever ship. I think

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Speaker 1: that just makes you an expert on the topic. But again,

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Speaker 1: I didn't knowing that there was the possibility that somewhere

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Speaker 1: down the line something like this could happen where I'm

385
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Speaker 1: giving I'm pledging money to a business that I hope succeeds.

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Speaker 1: But there are a lot of factors out there that

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Speaker 1: don't have anything to do with the sincerity of the

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Speaker 1: business owner that can sink a business. Right. You also

389
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Speaker 1: have people out there who are disingenuous, who are snake

390
00:23:07,680 --> 00:23:10,840
Speaker 1: oil salesman who they're selling an idea but they don't

391
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Speaker 1: have any any intention of seeing it through. I never

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Speaker 1: got the feeling that Grebber was one of those people. No,

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Speaker 1: I really think he just lacked the business knowledge to

394
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Speaker 1: set this up to be successful or as successful as

395
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Speaker 1: it was. Maybe if he had the low numbers that

396
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Speaker 1: he expected and the money that he he was originally

397
00:23:31,000 --> 00:23:33,119
Speaker 1: estimating for, he would have done fine. Yeah, maybe he

398
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Speaker 1: could have ramped up slowly and grown more organically. But

399
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Speaker 1: the crazy success and the amazing amount of attention that

400
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Speaker 1: was directed towards his campaign really was an albatross around

401
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Speaker 1: his neck. And so the whole goal of any business

402
00:23:51,960 --> 00:23:55,840
Speaker 1: oriented kickstarted campaign is to have usually at least to

403
00:23:55,920 --> 00:23:59,400
Speaker 1: have a sustainable business on the other side of it, Right,

404
00:23:59,720 --> 00:24:03,320
Speaker 1: So the whole goal of Coolest Cooler that campaign wasn't

405
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Speaker 1: just to ship out coolers to backers. It was to

406
00:24:05,880 --> 00:24:09,520
Speaker 1: create a viable business where he would be selling these

407
00:24:09,560 --> 00:24:13,840
Speaker 1: coolers to other retailers and that the people who backed it,

408
00:24:14,240 --> 00:24:17,000
Speaker 1: their reward for backing it would be getting a cooler

409
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Speaker 1: at a discounted price. The problem was that unless he

410
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Speaker 1: was selling them at this higher mark up at these retailers.

411
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Speaker 1: He wouldn't have the money to cover sending out those

412
00:24:29,800 --> 00:24:34,359
Speaker 1: those backer coolers to the backers. So the backers are

413
00:24:34,440 --> 00:24:37,119
Speaker 1: upset because the thing that they've been waiting for is

414
00:24:37,800 --> 00:24:41,439
Speaker 1: not coming to their to their house when they expected it.

415
00:24:41,840 --> 00:24:45,840
Speaker 1: And somebody else who didn't back the campaign could, in theory,

416
00:24:45,880 --> 00:24:48,920
Speaker 1: go out and order one and get one ahead of them. Yeah,

417
00:24:48,960 --> 00:24:53,119
Speaker 1: in two weeks or or a couple of days. Uh,

418
00:24:53,359 --> 00:24:54,920
Speaker 1: you have a note here. And I think it's true

419
00:24:54,960 --> 00:24:58,320
Speaker 1: that a big part of the issue was communication. There

420
00:24:58,359 --> 00:25:00,800
Speaker 1: are their notes and their comments about out, we haven't

421
00:25:00,840 --> 00:25:03,920
Speaker 1: heard anything. And so they did do a live stream

422
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Speaker 1: to say, look, you guys, we need fifteen million more

423
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Speaker 1: dollars than we expected. We're trying to get it through

424
00:25:09,760 --> 00:25:12,840
Speaker 1: selling coolers so that we can get you your rewards.

425
00:25:13,119 --> 00:25:15,760
Speaker 1: They and they did, they send out some rewards early on,

426
00:25:15,960 --> 00:25:18,000
Speaker 1: and it just it got too big for them. Well,

427
00:25:18,080 --> 00:25:20,439
Speaker 1: and and that also ended up being an issue, like

428
00:25:20,680 --> 00:25:23,040
Speaker 1: there was no good way for Creeper to get out

429
00:25:23,040 --> 00:25:27,359
Speaker 1: of this because he owed something like sixty thousand people

430
00:25:27,880 --> 00:25:31,280
Speaker 1: these coolers and he could only do them in batches.

431
00:25:31,400 --> 00:25:34,440
Speaker 1: And so what would happen is you would send out

432
00:25:34,480 --> 00:25:37,720
Speaker 1: you would have this company sending out coolers to backers

433
00:25:37,840 --> 00:25:41,320
Speaker 1: in these smaller batches, but the media focus was on

434
00:25:41,359 --> 00:25:44,320
Speaker 1: how many people were still waiting for a cooler. It

435
00:25:44,480 --> 00:25:48,600
Speaker 1: wasn't saying, coolest cooler has made good on you know,

436
00:25:48,880 --> 00:25:52,800
Speaker 1: ten thousand of the pledges and is working hard to

437
00:25:52,840 --> 00:25:55,280
Speaker 1: get the other fifty thousand. It was instead it was

438
00:25:55,440 --> 00:25:58,000
Speaker 1: fifty thousand people are still waiting for their coolers, which

439
00:25:58,000 --> 00:26:03,040
Speaker 1: wasn't doing him or his company in favors. So again, like, yes,

440
00:26:03,160 --> 00:26:06,399
Speaker 1: the mistake was his. We're not gonna lift all responsibility

441
00:26:06,520 --> 00:26:08,760
Speaker 1: off of him and say like he was a victim

442
00:26:08,800 --> 00:26:11,399
Speaker 1: in all of this. But at the same time, I

443
00:26:11,440 --> 00:26:14,000
Speaker 1: think the way it unfolded, it was pretty much a

444
00:26:14,040 --> 00:26:17,080
Speaker 1: worst case scenario for him to have to deal with

445
00:26:17,200 --> 00:26:20,240
Speaker 1: on top of all just the production headaches he had.

446
00:26:20,480 --> 00:26:22,320
Speaker 1: Well he does, he does. I don't know if it's

447
00:26:22,400 --> 00:26:25,800
Speaker 1: victim blaming or a little bit of shaming, but he

448
00:26:25,800 --> 00:26:29,040
Speaker 1: he has been noted to say that he thinks part

449
00:26:29,040 --> 00:26:30,879
Speaker 1: of what hiss delayed him so long is that when

450
00:26:30,920 --> 00:26:33,280
Speaker 1: he put the coolers on Amazon, all of these backers

451
00:26:33,359 --> 00:26:35,760
Speaker 1: went on and made these horrible reviews because they said

452
00:26:35,800 --> 00:26:39,160
Speaker 1: they didn't have their coolers and he's like, guys, you're

453
00:26:39,160 --> 00:26:42,080
Speaker 1: shooting yourself in the foot here. Yeah, it's it's just

454
00:26:42,200 --> 00:26:45,120
Speaker 1: delaying when I can get enough money to make good

455
00:26:45,160 --> 00:26:47,320
Speaker 1: on the promise I've made you. But then again, if

456
00:26:47,320 --> 00:26:49,600
Speaker 1: I were said, hey, if you pay nine dollars, will

457
00:26:49,640 --> 00:26:52,440
Speaker 1: get you your cooler quicker than you're paying the quote

458
00:26:52,480 --> 00:26:55,280
Speaker 1: unquote retail price for the cooler at which point, yeah,

459
00:26:55,359 --> 00:26:57,480
Speaker 1: so that was something else that came up with that.

460
00:26:57,920 --> 00:27:01,560
Speaker 1: He said. One solution to the problem they had was

461
00:27:01,680 --> 00:27:04,480
Speaker 1: that if you were a backer and you wanted your

462
00:27:04,480 --> 00:27:09,080
Speaker 1: cooler faster, you could get it by giving an extra

463
00:27:09,160 --> 00:27:12,720
Speaker 1: nineties seven dollars to the company. That would make up

464
00:27:12,920 --> 00:27:15,159
Speaker 1: enough of the difference for him to be able to

465
00:27:15,200 --> 00:27:17,840
Speaker 1: put those people on a priority list and they would

466
00:27:17,880 --> 00:27:21,600
Speaker 1: get their coolers faster. But you didn't have to do that. Again,

467
00:27:22,000 --> 00:27:24,600
Speaker 1: the way a lot of news outlets reported this, it

468
00:27:24,760 --> 00:27:28,080
Speaker 1: sounded like if you don't cough up the nineties seven dollars,

469
00:27:28,080 --> 00:27:30,600
Speaker 1: you're never going to get your cooler. That wasn't the case.

470
00:27:30,640 --> 00:27:33,679
Speaker 1: It was if you want your cooler now, you have

471
00:27:33,800 --> 00:27:36,720
Speaker 1: to pay almost an extra hundred dollars. If you are patient,

472
00:27:36,880 --> 00:27:39,600
Speaker 1: you can wait and it may take a while. But

473
00:27:40,160 --> 00:27:41,879
Speaker 1: at least in theory, you will eventually get it. I

474
00:27:41,880 --> 00:27:46,520
Speaker 1: wonder if some of those news outlets reporting it where

475
00:27:46,800 --> 00:27:49,080
Speaker 1: the reporters maybe had backed it and we're feeling a

476
00:27:49,119 --> 00:27:52,600
Speaker 1: little sore. I mean, probably not. It was, it was

477
00:27:52,760 --> 00:27:59,119
Speaker 1: It's very easy to get the the idea that the

478
00:27:59,280 --> 00:28:03,000
Speaker 1: company was eating backers dry. But again, the more I

479
00:28:03,040 --> 00:28:05,840
Speaker 1: look into it, the less I feel like that's the case,

480
00:28:05,920 --> 00:28:08,920
Speaker 1: and the more I feel like there was no good

481
00:28:08,960 --> 00:28:12,479
Speaker 1: pathway out of this this whole Okay, So, after all this,

482
00:28:12,760 --> 00:28:16,520
Speaker 1: they started shipping in July of two more coolers. They

483
00:28:16,560 --> 00:28:20,120
Speaker 1: had enough money to restart shipping, and they hoped they'd

484
00:28:20,119 --> 00:28:24,600
Speaker 1: be done by October of two thousand fifteen. Uh, how

485
00:28:24,640 --> 00:28:28,840
Speaker 1: did that turn out? It didn't. Yeah, there's so, I mean,

486
00:28:29,400 --> 00:28:31,880
Speaker 1: there are still lots of people waiting for their coolers.

487
00:28:32,080 --> 00:28:34,320
Speaker 1: I'll give a kind of figure in a second. But

488
00:28:34,880 --> 00:28:40,120
Speaker 1: they began to sell the model of the cooler that

489
00:28:40,240 --> 00:28:44,840
Speaker 1: was covered by the kick starry campaign for four hundred

490
00:28:44,960 --> 00:28:48,720
Speaker 1: eighty five dollars on their site, which if you look

491
00:28:48,760 --> 00:28:52,560
Speaker 1: at the if you look at the initial projected retail

492
00:28:52,640 --> 00:28:57,680
Speaker 1: price of I'm pretty sure is more than that. Yeah,

493
00:28:58,800 --> 00:29:02,880
Speaker 1: I'm an English major. It that's a lot for a cooler. Yeah,

494
00:29:02,960 --> 00:29:07,400
Speaker 1: just shy a five hundred bucks. But it also shows

495
00:29:08,080 --> 00:29:11,719
Speaker 1: that this cooler and all the parts that were necessary

496
00:29:11,760 --> 00:29:13,560
Speaker 1: in order to put it together and to have it

497
00:29:13,600 --> 00:29:15,960
Speaker 1: do all the things that was supposed to do, that

498
00:29:16,040 --> 00:29:18,520
Speaker 1: it was way more expensive to produce than what he

499
00:29:18,600 --> 00:29:22,640
Speaker 1: had anticipated. And it's about again we'll get into lessons

500
00:29:22,640 --> 00:29:24,960
Speaker 1: at the end of the episode, but one thing this

501
00:29:25,080 --> 00:29:28,680
Speaker 1: immediately tells you is that whenever you are thinking about

502
00:29:28,760 --> 00:29:33,080
Speaker 1: really any business endeavor, but particularly if you're making something physical,

503
00:29:33,760 --> 00:29:36,760
Speaker 1: you should grossly overestimate how much it's going to cost

504
00:29:36,800 --> 00:29:40,520
Speaker 1: you to make it, because it will prepare you better

505
00:29:40,800 --> 00:29:45,000
Speaker 1: to when you encounter those problems to manage them well.

506
00:29:45,000 --> 00:29:47,040
Speaker 1: And then if you do have if you do have

507
00:29:47,080 --> 00:29:49,000
Speaker 1: a surplus at the end of it, if everything goes

508
00:29:49,160 --> 00:29:52,200
Speaker 1: as you expected and not as you planned for, and

509
00:29:52,240 --> 00:29:54,240
Speaker 1: then you can either give it back to your supporters

510
00:29:54,320 --> 00:29:55,840
Speaker 1: or you can invest it in your company to be

511
00:29:55,880 --> 00:29:59,200
Speaker 1: more successful. Um, make sure you talk to other people

512
00:29:59,200 --> 00:30:02,600
Speaker 1: who know are doing instead of just like your own

513
00:30:02,600 --> 00:30:06,440
Speaker 1: research is good, but also talk to industry experts. But

514
00:30:06,600 --> 00:30:09,920
Speaker 1: you know, I'd have to imagine that there were there

515
00:30:09,960 --> 00:30:14,280
Speaker 1: was fallout beyond just angry consumers from all of this

516
00:30:15,000 --> 00:30:18,920
Speaker 1: failure to deliver product. Oh yeah, you had. You even

517
00:30:18,960 --> 00:30:23,080
Speaker 1: had people who were ordering it and uh and you

518
00:30:23,120 --> 00:30:26,280
Speaker 1: know they're actually purchasing it online and getting it ahead

519
00:30:26,280 --> 00:30:29,000
Speaker 1: of time, who were reviewing it and saying the cooler

520
00:30:29,080 --> 00:30:31,960
Speaker 1: is fine, like it's there's nothing wrong with it, but

521
00:30:32,080 --> 00:30:37,600
Speaker 1: it might not be cool enough to justify the cost.

522
00:30:38,200 --> 00:30:42,760
Speaker 1: So again that ends up hurting sales, which makes it

523
00:30:42,840 --> 00:30:46,040
Speaker 1: even take even longer to to make good on these

524
00:30:46,080 --> 00:30:49,800
Speaker 1: these kickstarter backers. So it's a domino effect, right, or

525
00:30:49,920 --> 00:30:52,040
Speaker 1: ripple effect if you prefer. It's a ripple effect. If

526
00:30:52,040 --> 00:30:54,640
Speaker 1: something goes wrong at ripples out and it effects and

527
00:30:54,720 --> 00:30:58,880
Speaker 1: ultimately the people that it is affecting the most, at

528
00:30:58,920 --> 00:31:01,560
Speaker 1: least in the eyes of the backer, are the backers. Yeah,

529
00:31:02,040 --> 00:31:05,320
Speaker 1: which led to some legal troubles, but we're going to

530
00:31:05,360 --> 00:31:12,680
Speaker 1: tell you about that right after this break. Okay, So

531
00:31:12,800 --> 00:31:17,000
Speaker 1: when we started talking about Grepper and his ideas, we

532
00:31:17,040 --> 00:31:20,959
Speaker 1: mentioned that he is from Portland, Oregon. That's where he

533
00:31:21,040 --> 00:31:25,760
Speaker 1: was operating out of. And Oregon has been the home

534
00:31:25,840 --> 00:31:29,880
Speaker 1: not just of Grepper but of some of Grepper's biggest woes. Yes,

535
00:31:30,960 --> 00:31:34,080
Speaker 1: he got a whole bunch of consumer complaints to the

536
00:31:34,120 --> 00:31:38,480
Speaker 1: Oregon Department of Justice. Three hundred fifteen incidents of complaints

537
00:31:38,480 --> 00:31:42,000
Speaker 1: were filed with that d o J in Oregon. Yeah,

538
00:31:42,000 --> 00:31:44,520
Speaker 1: because if you've got an issue with the company, you've

539
00:31:44,520 --> 00:31:46,880
Speaker 1: got to file it where that company is. Yeah. So

540
00:31:47,120 --> 00:31:50,720
Speaker 1: from people outside of Oregon complaining to Oregon, UH, and

541
00:31:50,800 --> 00:31:53,760
Speaker 1: the complaints stated that the Coolest Cooler was being negligent

542
00:31:54,240 --> 00:31:58,680
Speaker 1: in delivering their product. So that was enough to to

543
00:31:58,960 --> 00:32:01,560
Speaker 1: inspire the d O JAY and Oregon to launch an

544
00:32:01,600 --> 00:32:07,240
Speaker 1: investigation in twos s. So UH kickstart, by the way,

545
00:32:07,520 --> 00:32:12,240
Speaker 1: their policy states that any successful campaign is supposed to

546
00:32:12,320 --> 00:32:16,760
Speaker 1: either deliver the awards to backers that were promised or

547
00:32:16,800 --> 00:32:21,720
Speaker 1: offer refunds to backers. And so part of the problem

548
00:32:21,760 --> 00:32:25,400
Speaker 1: here was that Coolest Cooler, at least according to these complaints,

549
00:32:25,760 --> 00:32:32,360
Speaker 1: was refusing to refund money to backers who were discontented.

550
00:32:32,440 --> 00:32:36,200
Speaker 1: I mean they didn't have it. Yeah. But the problem

551
00:32:36,320 --> 00:32:40,880
Speaker 1: that is kickstarters own policy is that if you successfully

552
00:32:40,960 --> 00:32:44,400
Speaker 1: fund your project, you either have to make good on

553
00:32:44,520 --> 00:32:47,800
Speaker 1: these rewards or offer up the refund to your backers.

554
00:32:48,280 --> 00:32:52,160
Speaker 1: So it's what gave a foothold for the d o

555
00:32:52,240 --> 00:32:55,640
Speaker 1: J to really kind of look into what was going on. Yeah. Now,

556
00:32:55,640 --> 00:33:00,200
Speaker 1: in two tho um, Coolest Cooler did try to a

557
00:33:00,200 --> 00:33:02,479
Speaker 1: piece people again. They added a tracking tool to their

558
00:33:02,520 --> 00:33:05,120
Speaker 1: website for backers to track where the progress of their

559
00:33:05,120 --> 00:33:09,280
Speaker 1: delivery was, like it hasn't even been made yet. Yeah,

560
00:33:09,320 --> 00:33:12,080
Speaker 1: you could see your place in line basically. But then

561
00:33:12,160 --> 00:33:15,640
Speaker 1: they also weren't going in chronological order of who backed

562
00:33:15,960 --> 00:33:18,240
Speaker 1: and shipping these things. They were going by address, which

563
00:33:18,320 --> 00:33:21,240
Speaker 1: makes sense from a bulk shipping standpoint. Yeah, but not

564
00:33:21,400 --> 00:33:23,360
Speaker 1: great if you happen to be like if you had

565
00:33:23,400 --> 00:33:25,960
Speaker 1: prided yourself on being one of the first, like let's

566
00:33:25,960 --> 00:33:27,959
Speaker 1: say that you were one of those first seventy, like

567
00:33:28,000 --> 00:33:31,280
Speaker 1: you were an early bird backer, but because of your address,

568
00:33:32,000 --> 00:33:34,000
Speaker 1: you were not at the top of that list. You

569
00:33:34,080 --> 00:33:37,160
Speaker 1: might think, what the heck, I'm the reason. I'm part

570
00:33:37,160 --> 00:33:41,440
Speaker 1: of the reason why this campaign was so successful. Yeah. Um.

571
00:33:41,480 --> 00:33:44,760
Speaker 1: They also tried to put on that tool on their

572
00:33:44,760 --> 00:33:47,080
Speaker 1: website where all of the money raised had gone, to

573
00:33:47,120 --> 00:33:49,840
Speaker 1: give some transparency to people. I'm guessing that didn't really

574
00:33:49,880 --> 00:33:53,640
Speaker 1: help much because there are employees of Coolest Cooler that

575
00:33:53,680 --> 00:33:57,080
Speaker 1: we're getting docs and Ryan's family even got some threats

576
00:33:57,080 --> 00:34:00,840
Speaker 1: from some angry consumers. Yeah, people man, when they don't

577
00:34:00,880 --> 00:34:04,440
Speaker 1: get what they expect, they can turn real ugly, real fast.

578
00:34:04,920 --> 00:34:07,920
Speaker 1: And I mean I get the frustration. Trust me, I

579
00:34:08,000 --> 00:34:10,640
Speaker 1: get the frustration of backing a campaign and not getting

580
00:34:10,719 --> 00:34:15,280
Speaker 1: what you were promised when the campaign funds. I also,

581
00:34:15,840 --> 00:34:18,560
Speaker 1: in at least one of those instances, did not get

582
00:34:18,560 --> 00:34:21,960
Speaker 1: a refund, nor did I get my reward. Uh. The

583
00:34:22,640 --> 00:34:25,879
Speaker 1: I cannot have any recourse for that because the company

584
00:34:25,920 --> 00:34:28,960
Speaker 1: that was supposed to make the thing I backed no

585
00:34:29,040 --> 00:34:31,799
Speaker 1: longer exists, So there's no one for me to get

586
00:34:31,920 --> 00:34:36,279
Speaker 1: money from at this point. It's just it's the risk

587
00:34:36,320 --> 00:34:38,359
Speaker 1: of investment. Yeah, you got to know going in that's

588
00:34:38,440 --> 00:34:41,680
Speaker 1: again you have to remember it's not a store, right.

589
00:34:41,719 --> 00:34:46,000
Speaker 1: So but there are people who they have that expectation

590
00:34:46,360 --> 00:34:49,279
Speaker 1: and they're like, well, I bought this product and you

591
00:34:49,320 --> 00:34:52,719
Speaker 1: won't give it to me, so therefore I it's fair game.

592
00:34:52,840 --> 00:34:56,680
Speaker 1: I'm allowed to do whatever I want to strike out

593
00:34:56,760 --> 00:34:59,200
Speaker 1: at you because you have taken my money, which you know,

594
00:34:59,360 --> 00:35:02,359
Speaker 1: so these people who filed with the organ Department of

595
00:35:02,360 --> 00:35:08,759
Speaker 1: Justice took a much Yeah, I'm more responsible and less

596
00:35:08,800 --> 00:35:15,080
Speaker 1: like psycho U unsympathetic approach. Yeah yeah, so how did

597
00:35:15,080 --> 00:35:20,640
Speaker 1: that turn out? Um? Well, you know, at least turned

598
00:35:20,680 --> 00:35:23,720
Speaker 1: out well for some of the backers. The Oregon Department

599
00:35:23,719 --> 00:35:26,799
Speaker 1: of Justice did find that Coolest Cooler was or at

600
00:35:26,840 --> 00:35:29,760
Speaker 1: least was approaching the point of saying that the Coolest

601
00:35:29,760 --> 00:35:32,720
Speaker 1: Cooler was negligent, but Grepper was able to settle the case.

602
00:35:33,640 --> 00:35:37,080
Speaker 1: But the settlement, of course, came with some pretty strong

603
00:35:38,239 --> 00:35:41,000
Speaker 1: agreements that he had to abide by. One of those

604
00:35:41,080 --> 00:35:43,680
Speaker 1: was that uh he was going to have to ship

605
00:35:44,080 --> 00:35:48,640
Speaker 1: Coolest Coolers to Oregonians who had backed the campaign that

606
00:35:48,680 --> 00:35:52,640
Speaker 1: included eight hundred seventy three backers in the state of Oregon.

607
00:35:53,360 --> 00:35:56,840
Speaker 1: He also agreed that if backers in general did not

608
00:35:56,920 --> 00:35:59,799
Speaker 1: receive their coolers by the middle of twenty twenty, so

609
00:35:59,800 --> 00:36:03,120
Speaker 1: we still have some time to go. Yeah, although, like

610
00:36:04,360 --> 00:36:07,840
Speaker 1: while we're researching this episode, there are people actively posting

611
00:36:07,840 --> 00:36:11,399
Speaker 1: on the Coolest Cooler kickstarter page, I haven't gotten my cooler. Yeah, yeah,

612
00:36:11,480 --> 00:36:15,440
Speaker 1: well there's thousands of them alert. But that anyway, if

613
00:36:15,440 --> 00:36:18,680
Speaker 1: he does not get the coolers to the backers by

614
00:36:18,719 --> 00:36:22,680
Speaker 1: mid twenty twenty, for every backer who has not received

615
00:36:22,719 --> 00:36:26,239
Speaker 1: his or her cooler, they will receive twenty dollars from

616
00:36:26,280 --> 00:36:29,719
Speaker 1: Grebber and no matter if the company goes into bankruptcy

617
00:36:29,920 --> 00:36:33,320
Speaker 1: or if it's still solvent, he will owe that money.

618
00:36:34,000 --> 00:36:36,600
Speaker 1: If the company goes into bankruptcy will not protect him

619
00:36:36,680 --> 00:36:40,279
Speaker 1: from that that obligation. He will still have to pay

620
00:36:40,320 --> 00:36:43,640
Speaker 1: the twenty bucks per person. Well, and I know people

621
00:36:43,680 --> 00:36:46,480
Speaker 1: were not happy about this. I mean, obviously they hope

622
00:36:46,520 --> 00:36:48,560
Speaker 1: to get their cool Some of them don't even anymore,

623
00:36:48,760 --> 00:36:51,480
Speaker 1: like I don't care about this cooler anymore, And twenty

624
00:36:52,040 --> 00:36:56,959
Speaker 1: is a small amount of their investment back, but it's something. Well,

625
00:36:57,000 --> 00:37:00,400
Speaker 1: and you know, the idea would be that assuming company

626
00:37:00,480 --> 00:37:04,399
Speaker 1: was still solvent, that even with the twenty dollars being sent,

627
00:37:04,560 --> 00:37:06,560
Speaker 1: it would still the cooler would still be on its

628
00:37:06,600 --> 00:37:11,200
Speaker 1: way at some point. Um, so it's not like here's

629
00:37:11,200 --> 00:37:13,960
Speaker 1: twenty dollars now you don't get your cooler. Yeah, assuming

630
00:37:13,960 --> 00:37:15,480
Speaker 1: that the company is still around. Of course, if it

631
00:37:15,520 --> 00:37:19,400
Speaker 1: were bankrupt, then it's just coming out of Grabber's personal funds.

632
00:37:19,400 --> 00:37:23,200
Speaker 1: I assume. After this settlement, Grabber actually wrote a letter

633
00:37:23,200 --> 00:37:25,799
Speaker 1: to people and he put it on the Kickstarter as

634
00:37:25,800 --> 00:37:28,799
Speaker 1: an update to all the backers, and he explained their

635
00:37:28,840 --> 00:37:33,360
Speaker 1: plan and he explained their strategies for going forward to

636
00:37:33,400 --> 00:37:35,680
Speaker 1: get this done, things like going international and things like

637
00:37:35,719 --> 00:37:39,440
Speaker 1: that more investors and stuff, but he was really salty

638
00:37:39,440 --> 00:37:42,040
Speaker 1: about it. He's like, I feel vindicated that this is

639
00:37:42,080 --> 00:37:46,239
Speaker 1: how the Oregan Department of Justice ruled that we aren't shysters.

640
00:37:46,520 --> 00:37:50,239
Speaker 1: We generally want to get you your product, but we

641
00:37:50,360 --> 00:37:54,080
Speaker 1: just we can't, and you're hurting our progress, right right, Yeah,

642
00:37:54,200 --> 00:37:57,920
Speaker 1: like like the you know, we're trying to do good

643
00:37:58,080 --> 00:38:00,960
Speaker 1: on the agreement we had, but the more you guys

644
00:38:01,080 --> 00:38:02,920
Speaker 1: put up a fuss, the harder it is for us

645
00:38:02,960 --> 00:38:06,239
Speaker 1: to do that. Yeah, it's kind of like, uh, like

646
00:38:06,360 --> 00:38:09,640
Speaker 1: you've promised a toddler that you're gonna go to the

647
00:38:09,640 --> 00:38:12,000
Speaker 1: water park in the afternoon, but it's still in the

648
00:38:12,000 --> 00:38:13,719
Speaker 1: morning and you need to do some errands, and the

649
00:38:13,719 --> 00:38:16,799
Speaker 1: toddler starts having a melt down. You're like, you know,

650
00:38:16,840 --> 00:38:18,359
Speaker 1: I want to go to the water parks. Says yes,

651
00:38:18,360 --> 00:38:20,080
Speaker 1: we're going to the water park, but first we have

652
00:38:20,120 --> 00:38:21,560
Speaker 1: to run errands. But I want to go to the

653
00:38:21,560 --> 00:38:24,120
Speaker 1: water park. I mean, mind you if I had been

654
00:38:24,120 --> 00:38:25,960
Speaker 1: promised to go to the water park in two thousand

655
00:38:26,080 --> 00:38:29,680
Speaker 1: fourteen and I hit two thousands sixteen, it's a very

656
00:38:29,800 --> 00:38:33,520
Speaker 1: long afternoon. Areal very long afternoon when you're a toddler

657
00:38:33,640 --> 00:38:38,839
Speaker 1: time stretches before you like an infinity. Yeah, that's true. Anyhow,

658
00:38:39,160 --> 00:38:41,520
Speaker 1: in two thousand seventeen, there was actually a petition filed

659
00:38:41,520 --> 00:38:44,560
Speaker 1: on change dot org to get them to stop selling

660
00:38:44,560 --> 00:38:47,839
Speaker 1: their coolers until the backers got their's again, which makes

661
00:38:47,880 --> 00:38:50,960
Speaker 1: no sense. It's it's hurting the process to get you

662
00:38:50,960 --> 00:38:55,000
Speaker 1: your cooler. Yeah, that is kind of crazy, like the

663
00:38:55,040 --> 00:38:58,200
Speaker 1: idea that hey, stop stop doing this thing you're doing

664
00:38:58,400 --> 00:39:02,919
Speaker 1: that is helping fund actually getting coolers to backers, and

665
00:39:03,160 --> 00:39:05,600
Speaker 1: get coolers to backers without any funds. That's not the

666
00:39:05,600 --> 00:39:07,880
Speaker 1: way the world works. No, no, but Grepper, you know,

667
00:39:07,960 --> 00:39:12,640
Speaker 1: obviously didn't listen to that. The petition didn't well, I

668
00:39:12,680 --> 00:39:15,600
Speaker 1: mean it's a petition. It's a petition, doesn't doesn't have

669
00:39:15,640 --> 00:39:18,840
Speaker 1: any holding value over anything other than letting you know.

670
00:39:18,880 --> 00:39:20,560
Speaker 1: There's a lot of people who are ticked off enough

671
00:39:20,640 --> 00:39:23,760
Speaker 1: to fill out a form. So, in addition to trying

672
00:39:23,800 --> 00:39:27,120
Speaker 1: to boost international sales, get more investors, reduced production costs,

673
00:39:27,200 --> 00:39:29,920
Speaker 1: all of which are great ideas, although hard to get

674
00:39:29,920 --> 00:39:34,200
Speaker 1: investors when you've got a bad reputation UM, Greber started

675
00:39:34,239 --> 00:39:36,279
Speaker 1: innovating more to try to get more money. So he

676
00:39:36,320 --> 00:39:39,800
Speaker 1: made peripherals like batteries, and solar panels and charging chords

677
00:39:39,840 --> 00:39:42,560
Speaker 1: for the coolers. He made a soft sided cooler, which

678
00:39:43,120 --> 00:39:45,600
Speaker 1: is expensive for a soft stadic cooler, but apparently is

679
00:39:45,640 --> 00:39:49,440
Speaker 1: like super magnetic. It's also less expensive than the full

680
00:39:49,520 --> 00:39:52,799
Speaker 1: coolest cooler is yes, and it has like a universal

681
00:39:52,840 --> 00:39:54,560
Speaker 1: attachment thing you said, you can put on your bike

682
00:39:54,640 --> 00:39:56,960
Speaker 1: or your backpacker. But the whole idea was that he

683
00:39:57,000 --> 00:40:00,720
Speaker 1: could use profits from that or revenue from the sales

684
00:40:00,800 --> 00:40:04,200
Speaker 1: of those products to help again make good on these backers.

685
00:40:04,480 --> 00:40:07,239
Speaker 1: I have a feeling that that should the day come

686
00:40:07,239 --> 00:40:10,880
Speaker 1: when Grebber is able to send off that final backer cooler,

687
00:40:11,560 --> 00:40:15,120
Speaker 1: it will be an enormous weight of his shoulders. So, Jonathan,

688
00:40:15,200 --> 00:40:18,440
Speaker 1: how many people would you suppose don't have their coolership? Well,

689
00:40:18,520 --> 00:40:24,160
Speaker 1: it's tough to say because there's not really an ongoing

690
00:40:24,280 --> 00:40:27,880
Speaker 1: tally that I could find anywhere. But in ten late eighteen,

691
00:40:27,920 --> 00:40:31,080
Speaker 1: there was an article that stated as many as twenty

692
00:40:31,400 --> 00:40:35,879
Speaker 1: thousand people were still waiting for their coolers. Yeah, that's

693
00:40:35,880 --> 00:40:38,200
Speaker 1: a lot of people. So it's about a third of

694
00:40:38,239 --> 00:40:40,840
Speaker 1: the backers who who pledged at a level that was

695
00:40:41,040 --> 00:40:43,720
Speaker 1: enough to get a cooler in the first place, So

696
00:40:44,000 --> 00:40:48,760
Speaker 1: two thirds got their coolers. A third are still waiting. Um,

697
00:40:48,920 --> 00:40:53,799
Speaker 1: so that's tough. And there was an article and so

698
00:40:53,840 --> 00:40:57,440
Speaker 1: the oregon Ian was the newspaper that published the report

699
00:40:57,480 --> 00:41:00,200
Speaker 1: that said twenty thod people were still waiting. A few

700
00:41:00,200 --> 00:41:03,200
Speaker 1: months later, they published a second article that stated that

701
00:41:03,320 --> 00:41:08,040
Speaker 1: during the most recent quarter, according to a statement from

702
00:41:08,239 --> 00:41:14,200
Speaker 1: Coolest Cooler, the company had shipped precisely zero coolers tobaccers

703
00:41:14,280 --> 00:41:17,600
Speaker 1: in that most recent quarter, meaning that they weren't able

704
00:41:17,640 --> 00:41:21,640
Speaker 1: to do any in that three month period. So obviously

705
00:41:21,680 --> 00:41:24,400
Speaker 1: every month that goes by is bringing them closer to

706
00:41:24,440 --> 00:41:28,640
Speaker 1: that mid twenty twenty deadline that they need to make.

707
00:41:29,120 --> 00:41:32,040
Speaker 1: And um, there have been a lot of other things

708
00:41:32,080 --> 00:41:34,160
Speaker 1: that have happened over the last couple of years that

709
00:41:34,200 --> 00:41:38,319
Speaker 1: have added complications. For example, you probably are familiar that

710
00:41:38,400 --> 00:41:42,919
Speaker 1: there have been some issues about tariffs and China, as

711
00:41:43,040 --> 00:41:46,239
Speaker 1: as the United States of America has enacted certain policies

712
00:41:46,560 --> 00:41:50,600
Speaker 1: that have instituted these tariffs that in turn ends up

713
00:41:50,640 --> 00:41:54,760
Speaker 1: impacting the supply chain and manufacturing plan for the Coolest Coolers,

714
00:41:55,280 --> 00:41:59,319
Speaker 1: So which that is not Grabbers fault. Now, there's nothing

715
00:41:59,360 --> 00:42:02,320
Speaker 1: he can do about it other than like trying desperately

716
00:42:02,360 --> 00:42:05,440
Speaker 1: to find a way to still stay within budget and

717
00:42:05,480 --> 00:42:08,080
Speaker 1: be able to continue production. It's not like it halts production,

718
00:42:08,120 --> 00:42:10,560
Speaker 1: but it makes production more expensive. And since that was

719
00:42:10,600 --> 00:42:13,640
Speaker 1: the problem in the first place, in addition to the

720
00:42:13,719 --> 00:42:16,919
Speaker 1: timing issues with things like the strike, uh, that does

721
00:42:16,960 --> 00:42:21,839
Speaker 1: not make his life any easier. Yeah. Um again. I

722
00:42:21,920 --> 00:42:26,839
Speaker 1: really think the lesson here is give yourself buffer, give

723
00:42:26,880 --> 00:42:30,600
Speaker 1: yourself a leg up, overestimate, like you said, how much

724
00:42:30,600 --> 00:42:33,719
Speaker 1: it's gonna call you talk to people. Give yourself a

725
00:42:33,760 --> 00:42:37,239
Speaker 1: longer deadline too. You know, if backers know that going in,

726
00:42:37,400 --> 00:42:40,200
Speaker 1: they might be okay with that. Yeah. It's it's when

727
00:42:40,239 --> 00:42:43,920
Speaker 1: you start changing things and people had. It's when you

728
00:42:44,040 --> 00:42:47,239
Speaker 1: set certain expectations and then you have to change those expectations.

729
00:42:47,680 --> 00:42:51,000
Speaker 1: That's always a problem, and I've seen it on multiple

730
00:42:51,040 --> 00:42:54,719
Speaker 1: Kickstarter campaigns, and it almost always happens with stuff that's

731
00:42:54,719 --> 00:42:57,600
Speaker 1: related to producing something physical. And it doesn't have to

732
00:42:57,640 --> 00:43:01,560
Speaker 1: be complicated either. I've backed Kickstarter campaigns that were producing

733
00:43:01,600 --> 00:43:04,239
Speaker 1: things like a deck of cards, but then there are

734
00:43:04,239 --> 00:43:08,680
Speaker 1: printer issues, their quality control issues, and these things slow

735
00:43:08,719 --> 00:43:11,360
Speaker 1: everything down and they increase the costs because you have

736
00:43:11,400 --> 00:43:14,600
Speaker 1: to pay for another production run because if it's not

737
00:43:14,719 --> 00:43:18,319
Speaker 1: going to meet the expectations, of your backers. Then you're

738
00:43:18,360 --> 00:43:21,120
Speaker 1: going to have problems that like you, you either ship

739
00:43:21,320 --> 00:43:24,319
Speaker 1: nothing and you tell your backers were sorry, but the

740
00:43:24,400 --> 00:43:27,000
Speaker 1: quality was not up to our standards, so we're going

741
00:43:27,040 --> 00:43:29,040
Speaker 1: to go back and try it again, or you end

742
00:43:29,080 --> 00:43:32,680
Speaker 1: up shipping something that is of substandard quality and your

743
00:43:32,680 --> 00:43:36,040
Speaker 1: backers get upset anyway because they're like, I backed this.

744
00:43:36,320 --> 00:43:38,399
Speaker 1: That was a waste of money and a really long wait.

745
00:43:38,560 --> 00:43:41,239
Speaker 1: And also you know the lesson for you, uh you

746
00:43:41,280 --> 00:43:43,480
Speaker 1: know you've listened to this episodes, so you know, but

747
00:43:44,480 --> 00:43:47,600
Speaker 1: realize that you're making an investment. It's almost like loaning

748
00:43:47,640 --> 00:43:51,640
Speaker 1: money to your family or friends where you shouldn't. You're

749
00:43:51,680 --> 00:43:53,919
Speaker 1: hoping to get something back, but you may not. Yeah,

750
00:43:53,960 --> 00:43:56,960
Speaker 1: you need to You need to ask yourself, like, can

751
00:43:57,040 --> 00:43:59,840
Speaker 1: I make this pledge if this campaign is successful? Is

752
00:43:59,840 --> 00:44:02,759
Speaker 1: it okay if this money never comes back to me?

753
00:44:02,920 --> 00:44:05,080
Speaker 1: Like if I if I make this pledge, and what

754
00:44:05,360 --> 00:44:10,920
Speaker 1: for whatever reason the actual endeavor fails despite the campaign

755
00:44:11,160 --> 00:44:15,680
Speaker 1: being successful. Am I okay with taking a loss of this?

756
00:44:15,800 --> 00:44:19,400
Speaker 1: If I'm not, then maybe I should just wait until

757
00:44:19,400 --> 00:44:22,799
Speaker 1: it's for public consumers. Yeah, exactly. So in this case

758
00:44:22,800 --> 00:44:25,759
Speaker 1: with Coolest Cooler, if you saw it and you thought, Wow,

759
00:44:25,800 --> 00:44:28,040
Speaker 1: that sounds really awesome and I would love to have

760
00:44:28,120 --> 00:44:29,719
Speaker 1: one of these, and it would be nice to get

761
00:44:29,760 --> 00:44:34,520
Speaker 1: it for a discounted price, but I'm also aware of

762
00:44:34,560 --> 00:44:38,440
Speaker 1: the potential pitfalls that can be in the way of production.

763
00:44:38,840 --> 00:44:42,360
Speaker 1: Then you might think, well, is it is it worth

764
00:44:43,080 --> 00:44:47,560
Speaker 1: potentially saving a hundred fifteen dollars off the projected retail

765
00:44:47,600 --> 00:44:50,880
Speaker 1: price or is it better for me to wait, because

766
00:44:50,880 --> 00:44:53,760
Speaker 1: it could be that instead of saving a D fifteen dollars,

767
00:44:53,840 --> 00:44:57,600
Speaker 1: I'm throwing away a D five. Yeah, policies are great,

768
00:44:57,840 --> 00:45:00,520
Speaker 1: but the truth of the matter is, no matter how

769
00:45:00,520 --> 00:45:05,240
Speaker 1: well intentioned the inventor or the founder of the kicks starter,

770
00:45:05,840 --> 00:45:09,319
Speaker 1: if they end up going bankrupt due to misfortune, not

771
00:45:09,360 --> 00:45:11,600
Speaker 1: even poor planning, but just misfortune and end up living

772
00:45:11,680 --> 00:45:15,200
Speaker 1: under a bridge, you they can't refund you. It's it's

773
00:45:15,239 --> 00:45:19,360
Speaker 1: just the way it is. Um It's It's also interesting

774
00:45:19,400 --> 00:45:23,880
Speaker 1: to point out that crowdfunding has largely changed over the

775
00:45:23,920 --> 00:45:26,439
Speaker 1: last couple of years, where we're seeing more and more

776
00:45:26,760 --> 00:45:30,600
Speaker 1: established companies using crowdfunding, and they're not using it to

777
00:45:30,760 --> 00:45:33,279
Speaker 1: raise the money needed to make whatever the thing is.

778
00:45:33,320 --> 00:45:36,480
Speaker 1: Often the thing has already made. They're using it to

779
00:45:36,600 --> 00:45:41,239
Speaker 1: kind of judge the reception of whatever that thing is

780
00:45:41,520 --> 00:45:44,160
Speaker 1: so that they know how much of it to make

781
00:45:44,360 --> 00:45:46,920
Speaker 1: or whether or not it's going to be a successful product.

782
00:45:47,000 --> 00:45:52,080
Speaker 1: And so it's it's changing where it was kind of

783
00:45:52,120 --> 00:45:56,040
Speaker 1: aimed at the individual creator originally, like this was an idea,

784
00:45:56,120 --> 00:45:59,279
Speaker 1: Like you have an idea for something, you launched this

785
00:45:59,320 --> 00:46:01,720
Speaker 1: crowdfunding and paign to get the money you need to

786
00:46:01,719 --> 00:46:05,520
Speaker 1: to actually bring that something into reality, and then you

787
00:46:05,600 --> 00:46:09,000
Speaker 1: ship off or you start selling or whatever. Now it's

788
00:46:09,520 --> 00:46:12,160
Speaker 1: companies are using it almost as a marketing tool, and

789
00:46:12,280 --> 00:46:17,279
Speaker 1: so it's it's dramatically changed how crowdfunding is working in

790
00:46:17,320 --> 00:46:19,720
Speaker 1: the like I said, in the last couple of years.

791
00:46:20,200 --> 00:46:24,120
Speaker 1: But we still have these issues and uh, and there

792
00:46:24,160 --> 00:46:28,000
Speaker 1: are no shortage of crowdfunding campaigns that do come across

793
00:46:28,000 --> 00:46:31,719
Speaker 1: as kind of scammy, so that's also good. Although to

794
00:46:31,760 --> 00:46:34,400
Speaker 1: be fair, both Kickstarter and indigo Go and others have

795
00:46:34,480 --> 00:46:37,440
Speaker 1: gotten a lot better at weeding those out. Although indiego go,

796
00:46:37,640 --> 00:46:39,759
Speaker 1: you can get your funding amount even if you don't

797
00:46:40,120 --> 00:46:42,919
Speaker 1: magic Yeah, if you don't. If you said you can,

798
00:46:43,080 --> 00:46:45,919
Speaker 1: you can choose if you set let's say you set

799
00:46:45,920 --> 00:46:47,839
Speaker 1: a ten thousand dollar goal, but you only raise five

800
00:46:47,840 --> 00:46:50,520
Speaker 1: thousand dollars, and it's on indiego Go, you can choose

801
00:46:51,080 --> 00:46:55,319
Speaker 1: to accept any amount raised even if you haven't met

802
00:46:55,360 --> 00:46:58,200
Speaker 1: your goal, but it's with a heftier fee taken out.

803
00:46:58,360 --> 00:47:00,920
Speaker 1: For indie go Go, they take a much larger percentage

804
00:47:01,000 --> 00:47:04,040
Speaker 1: of the money, so you get you get even less.

805
00:47:04,239 --> 00:47:07,759
Speaker 1: So if you ask for ten thousand dollars and you

806
00:47:07,920 --> 00:47:10,560
Speaker 1: end up getting five thousand dollars, you might only end

807
00:47:10,640 --> 00:47:13,719
Speaker 1: up with four thousand dollars. So it's it's one of

808
00:47:13,760 --> 00:47:17,359
Speaker 1: those things that it's kind of a slippery slope issue. Um,

809
00:47:17,760 --> 00:47:19,799
Speaker 1: we have a couple of fun facts and I just

810
00:47:19,920 --> 00:47:22,440
Speaker 1: read them and now I'm angry. I'm sorry, Jonathan. The

811
00:47:22,440 --> 00:47:27,040
Speaker 1: first is Ryan Grabber has backed his own kickstarters. Uh,

812
00:47:27,320 --> 00:47:29,880
Speaker 1: he backed the potato salad kickstarter. That's the one that

813
00:47:29,920 --> 00:47:32,880
Speaker 1: gets me mad. It is because Jonathan had a kickstarter

814
00:47:32,920 --> 00:47:35,759
Speaker 1: around the same time and his didn't get funded. But

815
00:47:35,800 --> 00:47:39,920
Speaker 1: this dark potato salad kickstarts choke. The potato salad was

816
00:47:39,960 --> 00:47:44,120
Speaker 1: a choke and then it got it got ridiculous. Not

817
00:47:44,280 --> 00:47:48,080
Speaker 1: just backing it was again like a crazy viral success

818
00:47:48,200 --> 00:47:52,520
Speaker 1: for a joke potato salad. I mean, the guy did

819
00:47:52,640 --> 00:47:54,680
Speaker 1: take all the funds and make a major party out

820
00:47:54,680 --> 00:47:59,279
Speaker 1: of it. All props, all props to that guy and

821
00:47:59,280 --> 00:48:02,719
Speaker 1: and his cooke and the fact that it brought joy

822
00:48:02,800 --> 00:48:08,800
Speaker 1: to people. But I am I am unapologetically envious because

823
00:48:08,840 --> 00:48:11,480
Speaker 1: I had a project. It was near and dear to

824
00:48:11,560 --> 00:48:14,360
Speaker 1: both of our hearts. It was that I was really

825
00:48:14,400 --> 00:48:18,360
Speaker 1: hoping I could get funded and uh. It also managed

826
00:48:18,360 --> 00:48:21,680
Speaker 1: to buck another trend. It funded about halfway to where

827
00:48:21,680 --> 00:48:23,960
Speaker 1: it needed to be. But it was on Kickstarter. It

828
00:48:24,000 --> 00:48:27,200
Speaker 1: was make or break. And the reason why I say

829
00:48:27,400 --> 00:48:31,360
Speaker 1: it broke some trends is that generally speaking, on Kickstarter,

830
00:48:31,480 --> 00:48:35,920
Speaker 1: if you reach a certain level, a certain percentage of funding,

831
00:48:35,920 --> 00:48:39,719
Speaker 1: and I want to say it's somewhere around that, of

832
00:48:39,800 --> 00:48:44,080
Speaker 1: campaigns that hit their gold during the campaign, we'll we'll

833
00:48:44,120 --> 00:48:46,080
Speaker 1: get all the way to funding by the end. Mine

834
00:48:46,200 --> 00:48:49,240
Speaker 1: was not one of those. Now I'm really sad about

835
00:48:49,239 --> 00:48:50,879
Speaker 1: that too. So we'll move on to our last fact

836
00:48:50,920 --> 00:48:54,440
Speaker 1: and then we'll wrap things up. The original version of

837
00:48:54,480 --> 00:48:58,360
Speaker 1: the Coolest Cooler had an attached grill, yeah, which turns

838
00:48:58,360 --> 00:49:00,560
Speaker 1: out probably not the best idea for a product that's

839
00:49:00,560 --> 00:49:03,439
Speaker 1: mostly made out of plast It was nixed for safe. Yeah.

840
00:49:03,480 --> 00:49:05,920
Speaker 1: You can't imagine a grill working too well. I mean,

841
00:49:05,960 --> 00:49:10,880
Speaker 1: you can maybe have like a stand alone little stand

842
00:49:10,920 --> 00:49:12,640
Speaker 1: and grill that you could put over a fire pit

843
00:49:12,760 --> 00:49:14,080
Speaker 1: or something, but even then you don't have to have

844
00:49:14,160 --> 00:49:15,719
Speaker 1: it cool down enough to be able to put it

845
00:49:15,760 --> 00:49:20,120
Speaker 1: against a plastic cooler. Um. So that wraps up our

846
00:49:20,160 --> 00:49:24,640
Speaker 1: discussion about coolest cooler. But before we go and wrap

847
00:49:24,680 --> 00:49:26,839
Speaker 1: everything up for the episode, we also wanted to give

848
00:49:26,840 --> 00:49:30,680
Speaker 1: an update about a previous topic that we've covered. We

849
00:49:30,719 --> 00:49:33,640
Speaker 1: did an episode about Toys r Us and we talked

850
00:49:33,640 --> 00:49:35,520
Speaker 1: about how at the end of that episode, we talked

851
00:49:35,520 --> 00:49:38,400
Speaker 1: about how UH there was an effort to kind of

852
00:49:38,400 --> 00:49:40,800
Speaker 1: bring these sort of pop up stores to life and

853
00:49:40,920 --> 00:49:44,440
Speaker 1: inside of targets and things like that, and the Toys

854
00:49:44,520 --> 00:49:46,759
Speaker 1: r Us name might not be totally gone. And now

855
00:49:46,800 --> 00:49:49,640
Speaker 1: we've gotten word for the heads up as of the

856
00:49:49,680 --> 00:49:52,640
Speaker 1: recording of this podcast, which is on June one, two

857
00:49:52,680 --> 00:49:57,560
Speaker 1: thousand nineteen, that there is a sincere effort to bring

858
00:49:57,560 --> 00:50:02,160
Speaker 1: back UH a larger version of Toys r Us, although

859
00:50:02,200 --> 00:50:05,439
Speaker 1: not at the full size of the older toy stores. Yeah,

860
00:50:05,480 --> 00:50:06,960
Speaker 1: there will be about the third of the size of

861
00:50:06,960 --> 00:50:10,280
Speaker 1: the old toy stores, with more experience points, play areas

862
00:50:10,280 --> 00:50:12,560
Speaker 1: and things like that, and also they're looking at bringing

863
00:50:12,600 --> 00:50:14,800
Speaker 1: back their e commerce site. They're hoping to be back

864
00:50:15,200 --> 00:50:18,279
Speaker 1: by the holiday season of two thousand nineteen, so we'll

865
00:50:18,280 --> 00:50:20,080
Speaker 1: have to see if that happens. Yeah, and if it does,

866
00:50:20,120 --> 00:50:23,879
Speaker 1: we'll do another update where we'll talk about maybe we'll

867
00:50:23,880 --> 00:50:26,880
Speaker 1: have to do an episode at some point. It's all

868
00:50:26,880 --> 00:50:30,240
Speaker 1: follow ups on I was thinking the same thing. Clearly,

869
00:50:30,239 --> 00:50:32,840
Speaker 1: Canadian would be another one. Thanks for the shout out, clearly,

870
00:50:33,280 --> 00:50:36,680
Speaker 1: we greatly appreciate it. Awesome. I still haven't received any

871
00:50:36,880 --> 00:50:39,880
Speaker 1: crates of drinks or anything. You don't listen to him.

872
00:50:39,920 --> 00:50:42,560
Speaker 1: I totally gave him a BlackBerry, clearly Canadian. That's not

873
00:50:42,640 --> 00:50:46,040
Speaker 1: a crate. That was one drink and it was from you,

874
00:50:46,160 --> 00:50:48,279
Speaker 1: not form. Clearly, not that we do this to get

875
00:50:48,280 --> 00:50:51,399
Speaker 1: stuff from companies. We're just joking. We don't expect nor

876
00:50:51,560 --> 00:50:55,760
Speaker 1: do we deserve anything from anybody. I hope you enjoyed

877
00:50:55,920 --> 00:50:57,960
Speaker 1: that episode of Business on the Brink that came out

878
00:50:58,000 --> 00:51:00,720
Speaker 1: back in two thousand nineteen. Yeah, that's is no longer

879
00:51:00,800 --> 00:51:04,360
Speaker 1: in production. You can still find all the episodes online,

880
00:51:04,400 --> 00:51:06,759
Speaker 1: so if you want to take a quick look and

881
00:51:06,800 --> 00:51:09,640
Speaker 1: see if there are any topics that interest you. We

882
00:51:09,719 --> 00:51:12,920
Speaker 1: did have a habit of getting a little playful with

883
00:51:13,000 --> 00:51:15,040
Speaker 1: the titles, so you might have to look at the

884
00:51:15,040 --> 00:51:18,160
Speaker 1: descriptions to see what the actual episode is about. I

885
00:51:18,200 --> 00:51:21,799
Speaker 1: apologize for that. We just made our own fun, but yeah,

886
00:51:21,920 --> 00:51:24,400
Speaker 1: take a listen to those episodes. Let me know if

887
00:51:24,400 --> 00:51:25,640
Speaker 1: there are any that you would like me to do

888
00:51:25,680 --> 00:51:28,360
Speaker 1: a tech Stuff episode on. Because we were mostly focused

889
00:51:28,680 --> 00:51:31,600
Speaker 1: on the business side, not as much on the tech side.

890
00:51:31,880 --> 00:51:34,120
Speaker 1: If you want me to cover some of these, let

891
00:51:34,160 --> 00:51:36,200
Speaker 1: me know, and you can do that by using the

892
00:51:36,239 --> 00:51:38,799
Speaker 1: I Heart Radio app. You can navigate to the tech

893
00:51:38,840 --> 00:51:42,080
Speaker 1: Stuff podcast and you can use the little microphone icon

894
00:51:42,160 --> 00:51:44,520
Speaker 1: to leave a voice message that can be up to

895
00:51:44,560 --> 00:51:47,320
Speaker 1: thirty seconds. You can also let me know whether or

896
00:51:47,360 --> 00:51:49,600
Speaker 1: not you would like me to use the audio in

897
00:51:49,640 --> 00:51:52,719
Speaker 1: an episode. I won't unless you tell me, or if

898
00:51:52,760 --> 00:51:54,840
Speaker 1: you prefer, you can reach out to me on Twitter.

899
00:51:55,120 --> 00:51:57,920
Speaker 1: The handle for the show is tech Stuff hs W

900
00:51:58,560 --> 00:52:06,920
Speaker 1: and I'll talk to you again really soon. Tex Stuff

901
00:52:06,960 --> 00:52:10,120
Speaker 1: is an I Heart Radio production. For more podcasts from

902
00:52:10,160 --> 00:52:13,920
Speaker 1: I Heart Radio, visit the I Heart Radio app, Apple Podcasts,

903
00:52:14,040 --> 00:52:16,040
Speaker 1: or wherever you listen to your favorite shows.