1 00:00:00,120 --> 00:00:03,040 Speaker 1: So particular to let the things you talked about with 2 00:00:03,120 --> 00:00:06,360 Speaker 1: thy rowblocks and Fortnite. You know, I have little kids 3 00:00:06,400 --> 00:00:10,200 Speaker 1: and for them, you know, they think nothing about spending 4 00:00:10,280 --> 00:00:13,760 Speaker 1: real dollars to have dollars in the game, right, And 5 00:00:14,360 --> 00:00:18,919 Speaker 1: I wonder what your perspective is on how they will 6 00:00:18,960 --> 00:00:22,479 Speaker 1: grow up, you know, being let's say sub twelve, sub 7 00:00:22,520 --> 00:00:23,919 Speaker 1: twelve years old. And I don't know if you have 8 00:00:24,000 --> 00:00:26,480 Speaker 1: kids or not, but like you study this, so how 9 00:00:26,520 --> 00:00:29,760 Speaker 1: how will they grow up in a world? How will 10 00:00:29,760 --> 00:00:36,640 Speaker 1: their thinking be structured around value? So is me having. 11 00:00:36,400 --> 00:00:38,680 Speaker 2: A whole twelve foot wall. 12 00:00:39,080 --> 00:00:42,879 Speaker 1: Ten foot high full of sneakers and boxes of you know, 13 00:00:43,000 --> 00:00:47,559 Speaker 1: old Jordan's. They will have a virtual world of you know, 14 00:00:49,159 --> 00:00:52,720 Speaker 1: digital chotch keys, like you know gems that they got 15 00:00:52,760 --> 00:00:57,040 Speaker 1: in twenty twenty. You know, it's like, how how will 16 00:00:57,080 --> 00:01:00,000 Speaker 1: they think about these things? 17 00:00:59,800 --> 00:01:03,400 Speaker 3: It's a great question. And so we're investors in stock 18 00:01:03,640 --> 00:01:04,600 Speaker 3: X out of fun one. 19 00:01:05,040 --> 00:01:05,280 Speaker 4: Right. 20 00:01:05,760 --> 00:01:08,479 Speaker 3: And if you're a sneakerhead and you've got gicks, you've 21 00:01:08,480 --> 00:01:11,320 Speaker 3: been on Goat, you've been on stock X, you don't 22 00:01:11,360 --> 00:01:15,679 Speaker 3: see your sneakers as a utility, right, you see them 23 00:01:15,680 --> 00:01:16,920 Speaker 3: as a luxury item. 24 00:01:17,920 --> 00:01:18,559 Speaker 4: In what we. 25 00:01:18,520 --> 00:01:24,400 Speaker 3: Saw in this last ten years of innovation Internet space, 26 00:01:25,120 --> 00:01:29,080 Speaker 3: particularly around a gig economy, in ownership, like the fact 27 00:01:29,080 --> 00:01:31,200 Speaker 3: that you would say, yeah, I'm just gonna put my 28 00:01:31,240 --> 00:01:32,919 Speaker 3: crip on Airbnb, Like people were. 29 00:01:32,760 --> 00:01:35,440 Speaker 4: Crazy when Airbnb came out. People are like, are you insane? 30 00:01:35,440 --> 00:01:38,080 Speaker 4: You're gonna stay at strangers? You're gonna let somebody stay 31 00:01:38,080 --> 00:01:40,560 Speaker 4: in your crib? Like, Nah, that's not possible, that's not 32 00:01:40,600 --> 00:01:41,119 Speaker 4: gonna happen. 33 00:01:41,240 --> 00:01:43,880 Speaker 3: Right, And now it's like, I'd rather stay at Airbnb 34 00:01:44,000 --> 00:01:48,120 Speaker 3: in a hotel, right. And so the idea of ownership 35 00:01:48,160 --> 00:01:52,000 Speaker 3: is changing rapidly in our society. And again I go back, 36 00:01:52,080 --> 00:01:55,320 Speaker 3: is generational change. What was cool for my parents' generation 37 00:01:55,920 --> 00:01:59,520 Speaker 3: was a Ford Mustang, a muscle car. Like that was 38 00:01:59,560 --> 00:02:02,880 Speaker 3: who you or that representative piece of your identity. This 39 00:02:02,960 --> 00:02:05,400 Speaker 3: generation grew up and was like, who cares about a car? 40 00:02:05,400 --> 00:02:07,120 Speaker 3: Can take a Uber anywhere. It's gonna cost me less. 41 00:02:07,120 --> 00:02:09,120 Speaker 3: I don't have to worry about maintenance and parking and 42 00:02:09,240 --> 00:02:12,120 Speaker 3: alternate side. I'll just take Ubers everywhere and it's gonna 43 00:02:12,160 --> 00:02:17,640 Speaker 3: cost me less on a monthly basis. So this leads 44 00:02:17,720 --> 00:02:22,839 Speaker 3: us to a game native generation. So Fortnite generates two 45 00:02:22,880 --> 00:02:24,960 Speaker 3: point one two point three billion dollars. 46 00:02:24,720 --> 00:02:26,400 Speaker 4: A year selling skins. 47 00:02:27,080 --> 00:02:27,480 Speaker 5: That's it. 48 00:02:28,320 --> 00:02:29,400 Speaker 4: That's their business model. 49 00:02:29,919 --> 00:02:32,760 Speaker 3: Why because if you buy an NFL jersey or you 50 00:02:32,800 --> 00:02:35,800 Speaker 3: buy a Marvel character jersey to skin your character in 51 00:02:35,840 --> 00:02:40,080 Speaker 3: the game, that's the representation to your peer group, no 52 00:02:40,120 --> 00:02:42,919 Speaker 3: different than owning that Mustang or having a pair of 53 00:02:43,000 --> 00:02:45,800 Speaker 3: Yezis or having a skin in Fortnite. 54 00:02:46,240 --> 00:02:47,639 Speaker 4: So when people talk about. 55 00:02:48,080 --> 00:02:50,720 Speaker 3: Oh, I don't believe in NFTs, this stuff is fleeting, 56 00:02:50,760 --> 00:02:53,760 Speaker 3: I'm like, you're not in touch with reality. You don't 57 00:02:53,880 --> 00:02:57,800 Speaker 3: understand how you view digital assets. You might have no 58 00:02:57,960 --> 00:03:00,480 Speaker 3: artwork on your wall. Well guess what I got an 59 00:03:00,600 --> 00:03:04,200 Speaker 3: NFT in my virtual world. It's no different. It's the 60 00:03:04,240 --> 00:03:07,920 Speaker 3: exact same thing. It represents who you are. It's part 61 00:03:07,919 --> 00:03:11,400 Speaker 3: of your identity. And so you know, we're very bullish 62 00:03:11,400 --> 00:03:14,280 Speaker 3: on the NFT space, and I think even more so. 63 00:03:14,680 --> 00:03:18,840 Speaker 3: Digital has this unique opportunity that we're going to see 64 00:03:18,840 --> 00:03:21,200 Speaker 3: a merge in fractional ownership. So in the same way 65 00:03:21,240 --> 00:03:23,080 Speaker 3: we had a gig economy, the same way you treated 66 00:03:23,120 --> 00:03:25,280 Speaker 3: an asset and you're willing to sell it or lease it, 67 00:03:25,960 --> 00:03:29,240 Speaker 3: digital opens up completely new opportunities. And so when you 68 00:03:29,240 --> 00:03:32,000 Speaker 3: talk about NFTs, oh, I created an original piece of art. 69 00:03:32,240 --> 00:03:34,240 Speaker 3: As an artist, I'm not going to say I did, 70 00:03:34,520 --> 00:03:38,680 Speaker 3: and I sell that and now it gets resold for 71 00:03:38,800 --> 00:03:41,760 Speaker 3: ten x because there's a smart contract associated with it, 72 00:03:41,960 --> 00:03:45,240 Speaker 3: I get a portion of that use that secondary transaction 73 00:03:45,520 --> 00:03:47,520 Speaker 3: or the third flip of that item as it goes 74 00:03:47,600 --> 00:03:50,720 Speaker 3: up over time. So it unlocks additional value the same 75 00:03:50,720 --> 00:03:53,080 Speaker 3: way stock x unlocks value, which is you can buy 76 00:03:53,080 --> 00:03:56,280 Speaker 3: a pair of kicks, hold them, flip them, and you're 77 00:03:56,320 --> 00:04:00,000 Speaker 3: gonna get the proceeds. Now the artist, the creator, whoever 78 00:04:00,120 --> 00:04:02,600 Speaker 3: it is, can actually you know, accrue that value. And 79 00:04:02,600 --> 00:04:04,120 Speaker 3: I think that's going to be something lasting in the 80 00:04:04,120 --> 00:04:08,720 Speaker 3: ecosystem that really changes the way, you know, art and 81 00:04:08,880 --> 00:04:12,080 Speaker 3: assets are monetized over time, and so we're very bullish 82 00:04:12,120 --> 00:04:15,640 Speaker 3: on you know, digital art. You know what NFTs mean, 83 00:04:16,080 --> 00:04:20,320 Speaker 3: digital ownership over time because again it is just an 84 00:04:20,360 --> 00:04:24,000 Speaker 3: item you own that represents your identity. Just because it's 85 00:04:24,000 --> 00:04:26,919 Speaker 3: in a virtual world, it doesn't mean it's any less 86 00:04:27,040 --> 00:04:29,320 Speaker 3: or more so than the artwork or the kicks. 87 00:04:29,080 --> 00:04:29,520 Speaker 6: That you wear. 88 00:04:30,480 --> 00:04:34,920 Speaker 1: When you you specifically, KAI are looking to invest in gaming, 89 00:04:35,120 --> 00:04:38,159 Speaker 1: is it game developers you're particularly looking for? Is it 90 00:04:38,360 --> 00:04:41,680 Speaker 1: esports platforms? Is it leagues that you're interested in, like 91 00:04:41,760 --> 00:04:44,200 Speaker 1: what's interesting to you that's happening in the space. 92 00:04:45,800 --> 00:04:49,799 Speaker 3: Yeah, we have a very diversified approach to gaming because 93 00:04:49,839 --> 00:04:52,360 Speaker 3: I think you know, people tend to lump gaming into 94 00:04:52,839 --> 00:04:55,920 Speaker 3: here's the studio creating a game, right, and we do that. 95 00:04:56,000 --> 00:05:00,640 Speaker 4: We we've certainly invested in you know, a handful of studios. 96 00:05:02,200 --> 00:05:05,479 Speaker 3: We love the idea that you know, to me, gaming 97 00:05:05,560 --> 00:05:09,039 Speaker 3: is not that different than somebody who's creating an album 98 00:05:09,640 --> 00:05:12,000 Speaker 3: or a movie. Right, You're creating a new piece of work. 99 00:05:12,360 --> 00:05:13,919 Speaker 3: You're putting your heart and soul in it, and you 100 00:05:13,920 --> 00:05:17,799 Speaker 3: hope somebody loves it, right, And it's a creative endeavor. 101 00:05:17,839 --> 00:05:20,280 Speaker 3: And so you know, from our perspective, that's where most 102 00:05:20,279 --> 00:05:22,400 Speaker 3: of the money in the ecosystem flows today. So we'll 103 00:05:22,440 --> 00:05:26,680 Speaker 3: continue to make investments in that space. We tend to 104 00:05:26,680 --> 00:05:29,680 Speaker 3: put the second bucket as what are we investing in 105 00:05:29,760 --> 00:05:33,160 Speaker 3: terms of social and community. Esports is part of that. 106 00:05:33,520 --> 00:05:35,719 Speaker 3: Right when you look at one of our early investments, 107 00:05:35,760 --> 00:05:38,560 Speaker 3: we were early investors in one hundred Thieves. They're an 108 00:05:38,680 --> 00:05:43,159 Speaker 3: esports team, but they're really a lifestyle brand, right. You see, 109 00:05:43,200 --> 00:05:46,280 Speaker 3: they're making money not only from competing, but they're making 110 00:05:46,320 --> 00:05:51,520 Speaker 3: money from march right from content, it's an entertainment in 111 00:05:51,839 --> 00:05:55,839 Speaker 3: a brand business and so you know, we'll invest in esports. 112 00:05:55,920 --> 00:05:58,240 Speaker 3: We invest in a lot of real money gaming. So 113 00:05:58,360 --> 00:06:00,560 Speaker 3: you know, there's a lot of regulatory change going on 114 00:06:00,720 --> 00:06:04,160 Speaker 3: in the ecosystem across the US to allow legalized gambling. 115 00:06:05,480 --> 00:06:06,440 Speaker 4: You know, we play at that. 116 00:06:06,480 --> 00:06:09,120 Speaker 3: It's the intersection of sports in gaming, right, It's what 117 00:06:09,279 --> 00:06:11,880 Speaker 3: keeps people engaged in the game. Where you might be 118 00:06:11,880 --> 00:06:14,159 Speaker 3: watching a three and a half hour game, there's actually 119 00:06:14,200 --> 00:06:16,840 Speaker 3: thirty minutes of action. What are you doing during that time? 120 00:06:16,880 --> 00:06:19,960 Speaker 3: So we think, you know, prop bets and you know 121 00:06:20,000 --> 00:06:23,880 Speaker 3: in game wagering and real time social around sports is 122 00:06:23,880 --> 00:06:27,800 Speaker 3: a fascinating area. And then we invest in infrastructure, So 123 00:06:27,839 --> 00:06:30,279 Speaker 3: what are the core tech and tools needed in a 124 00:06:30,360 --> 00:06:34,200 Speaker 3: new generation of gaming? You know, gaming gets big and 125 00:06:34,279 --> 00:06:38,919 Speaker 3: you see outsized returns on investments at the intersection of 126 00:06:38,920 --> 00:06:41,640 Speaker 3: a new form of distribution, in a new form of monetization. 127 00:06:42,440 --> 00:06:45,400 Speaker 3: See going from a sixty dollars console game, going to 128 00:06:45,440 --> 00:06:47,880 Speaker 3: free to play Facebook games where you making micro transactions, 129 00:06:48,200 --> 00:06:51,440 Speaker 3: to mobile distribution within that purchases. And now that we're 130 00:06:51,480 --> 00:06:54,480 Speaker 3: in a cloud computing era and we're moving into this 131 00:06:54,800 --> 00:06:56,240 Speaker 3: you know, monetization framework of. 132 00:06:56,200 --> 00:06:58,560 Speaker 4: Play to earn in crypto as part of the. 133 00:06:58,480 --> 00:07:01,200 Speaker 3: Currency of the games. This is the moment in time 134 00:07:01,440 --> 00:07:04,839 Speaker 3: where you'll see really outsized returns for investments in gaming. 135 00:07:05,080 --> 00:07:07,200 Speaker 3: And so we're looking at all aspects of the game 136 00:07:07,279 --> 00:07:11,520 Speaker 3: ecosystem and we look for, you know, founders with unique 137 00:07:11,560 --> 00:07:15,119 Speaker 3: insights into why the IP they're creating at this moment 138 00:07:15,160 --> 00:07:20,840 Speaker 3: in time can leverage the cloud mobile global distribution with 139 00:07:21,440 --> 00:07:24,840 Speaker 3: new fundamental economics that not only are allowing users to 140 00:07:24,880 --> 00:07:25,560 Speaker 3: spend money in. 141 00:07:25,480 --> 00:07:27,440 Speaker 4: The game, but earn money in those games as well. 142 00:07:27,800 --> 00:07:30,200 Speaker 3: And so that's kind of the broad strokes of how 143 00:07:30,200 --> 00:07:32,520 Speaker 3: we look at investing in the gaming ecosystem. 144 00:07:33,080 --> 00:07:34,720 Speaker 1: I want you to go a step further, because I 145 00:07:35,120 --> 00:07:40,120 Speaker 1: think we see these humongous contracts and we really we think, 146 00:07:40,160 --> 00:07:43,160 Speaker 1: you know, hey, you know jayln got this X number deal, 147 00:07:43,680 --> 00:07:46,160 Speaker 1: so and so, Russ Russell Wilson got this X number deal. 148 00:07:46,160 --> 00:07:50,240 Speaker 1: And we ignorantly and not not not just you know, downplaying, 149 00:07:50,240 --> 00:07:53,280 Speaker 1: but we sometimes confuse that to be to assume that 150 00:07:53,280 --> 00:07:56,120 Speaker 1: they take that home and so and that, and that's 151 00:07:56,160 --> 00:07:58,920 Speaker 1: not true obviously, And I just I just I realized 152 00:07:58,920 --> 00:08:00,640 Speaker 1: this a couple of years ago. When you play in 153 00:08:00,640 --> 00:08:02,560 Speaker 1: a different state, that state wants to tax you while 154 00:08:02,560 --> 00:08:06,160 Speaker 1: you're there, and so can you talk about how the 155 00:08:06,200 --> 00:08:08,120 Speaker 1: money gets broken down and you can use simple math. 156 00:08:08,160 --> 00:08:10,280 Speaker 1: Do let's just say it's you know, your your salaries. 157 00:08:09,960 --> 00:08:10,560 Speaker 4: A million dollars? 158 00:08:10,600 --> 00:08:12,800 Speaker 1: Can you talk about all the things that get taken 159 00:08:12,800 --> 00:08:14,360 Speaker 1: out before you see any of that. 160 00:08:16,320 --> 00:08:21,000 Speaker 7: So you you get paid a million dollars on a salary, 161 00:08:21,360 --> 00:08:22,840 Speaker 7: you immediately. 162 00:08:22,240 --> 00:08:26,440 Speaker 8: Got to cut that. It has just off from pure taxes. 163 00:08:26,440 --> 00:08:30,800 Speaker 7: And then in the National Football League meet playing in 164 00:08:30,880 --> 00:08:34,080 Speaker 7: Dallas for a long time, that was a guarantee eight 165 00:08:34,200 --> 00:08:39,000 Speaker 7: games that were taxed exempt. When it comes to no state, 166 00:08:39,200 --> 00:08:43,160 Speaker 7: no state income taxes. So based on the teams that 167 00:08:43,200 --> 00:08:45,760 Speaker 7: you play for the city, the states that you play in, 168 00:08:45,920 --> 00:08:47,560 Speaker 7: like if you play in Nevada, or if you play 169 00:08:47,559 --> 00:08:50,840 Speaker 7: at Tennessee, you play in Florida, all these teams have 170 00:08:51,400 --> 00:08:54,520 Speaker 7: professional teams. Well, if you play in those states during 171 00:08:54,600 --> 00:08:57,559 Speaker 7: that specific week, there's no state income tax. 172 00:08:58,520 --> 00:08:59,719 Speaker 5: Now you got games. 173 00:08:59,480 --> 00:09:02,079 Speaker 7: Where you play in Los Angeles and New York. I 174 00:09:02,160 --> 00:09:04,040 Speaker 7: played in New York for two years with the Giants, 175 00:09:04,080 --> 00:09:08,359 Speaker 7: and you know those are a lot those that percentage 176 00:09:08,400 --> 00:09:13,760 Speaker 7: in that tax is increased tremendously. So it's it's unique 177 00:09:13,760 --> 00:09:15,320 Speaker 7: with how they do it, but you just got to 178 00:09:15,400 --> 00:09:18,480 Speaker 7: understand that whatever you make, you pretty much got to 179 00:09:18,520 --> 00:09:20,000 Speaker 7: cut that in half. And then you have to make 180 00:09:20,040 --> 00:09:23,840 Speaker 7: sure that your CPAs and your account and your financial 181 00:09:23,840 --> 00:09:26,400 Speaker 7: plan is set up correctly, because a lot of guys 182 00:09:26,440 --> 00:09:28,800 Speaker 7: get hit on the back end because they didn't pay 183 00:09:28,840 --> 00:09:32,960 Speaker 7: their taxes properly. And now you're old even more money, 184 00:09:33,480 --> 00:09:36,360 Speaker 7: so it can create It's either you're gonna pay for 185 00:09:36,400 --> 00:09:38,440 Speaker 7: it now. Mike talks about it a lot. You're gonna 186 00:09:38,440 --> 00:09:40,960 Speaker 7: pay for it now, or you're gonna pay for it later. 187 00:09:41,000 --> 00:09:43,200 Speaker 7: It's just about how you want to go about it, 188 00:09:43,200 --> 00:09:46,199 Speaker 7: and you know, we encourage going about it the right way. 189 00:09:47,360 --> 00:09:49,040 Speaker 1: Can you talk about this, Mike, I want you just 190 00:09:49,080 --> 00:09:51,520 Speaker 1: chiming anything that you want to add to Yeah. 191 00:09:51,640 --> 00:09:54,480 Speaker 9: I think the number one reason why athletes go broke 192 00:09:55,400 --> 00:09:57,600 Speaker 9: is because of because of the fear of money. 193 00:09:59,120 --> 00:10:00,400 Speaker 2: Same same more about that. 194 00:10:01,240 --> 00:10:04,800 Speaker 9: Well, I think it's the same reason that I think 195 00:10:04,800 --> 00:10:07,680 Speaker 9: it's the same reason why police police kill black people. 196 00:10:08,760 --> 00:10:09,160 Speaker 10: Mm hmm. 197 00:10:10,120 --> 00:10:12,200 Speaker 4: You feel you fear what you don't understand. 198 00:10:12,360 --> 00:10:16,439 Speaker 9: Yeah, and so I think that we we we feel 199 00:10:16,679 --> 00:10:19,400 Speaker 9: I talk to my clients all the time, I present 200 00:10:19,480 --> 00:10:22,199 Speaker 9: opportunities to my guys that it could be a five 201 00:10:22,480 --> 00:10:25,880 Speaker 9: x multiple over a four year old. 202 00:10:26,160 --> 00:10:26,839 Speaker 4: It could be whatever. 203 00:10:26,840 --> 00:10:29,320 Speaker 9: And I give it to one of my clients and 204 00:10:29,360 --> 00:10:32,200 Speaker 9: they so damn fearful of it and afraid of it 205 00:10:32,200 --> 00:10:35,080 Speaker 9: because they don't understand it. It goes back to what 206 00:10:35,160 --> 00:10:37,480 Speaker 9: Jalen said about education. The only way you're gonna get 207 00:10:37,520 --> 00:10:40,200 Speaker 9: police to stop killing black people is to help them 208 00:10:40,280 --> 00:10:44,400 Speaker 9: understand black people, and educating it's the same thing with money. 209 00:10:44,640 --> 00:10:47,240 Speaker 9: You gotta be able to educate them so they understand 210 00:10:47,240 --> 00:10:49,320 Speaker 9: it so they no longer fear it. So when you 211 00:10:49,400 --> 00:10:51,520 Speaker 9: fear it, it's like, well, damn, I fear it. I 212 00:10:51,520 --> 00:10:54,720 Speaker 9: don't understand it. I'm just gonna go spend it. I'm 213 00:10:54,720 --> 00:10:57,000 Speaker 9: just gonna go waste it and go do this because 214 00:10:57,440 --> 00:11:00,240 Speaker 9: I'm fearful. I'm a I'm a I'm a stasher year. 215 00:11:00,320 --> 00:11:02,320 Speaker 9: I'm gonna spend it because I don't know how to 216 00:11:02,400 --> 00:11:05,160 Speaker 9: multiply it. I don't know how to invest it. 217 00:11:05,480 --> 00:11:05,920 Speaker 4: I don't know. 218 00:11:06,120 --> 00:11:09,440 Speaker 9: This stuff is so foreign to me. I don't understand 219 00:11:09,520 --> 00:11:12,920 Speaker 9: the language. I don't understand any of it. I've never 220 00:11:12,960 --> 00:11:15,960 Speaker 9: been taught on it. It's so foreign. So I'm just 221 00:11:16,000 --> 00:11:18,640 Speaker 9: going to do the adverse effect of just go spend it. 222 00:11:18,679 --> 00:11:19,360 Speaker 9: I know how to do that. 223 00:11:21,240 --> 00:11:23,120 Speaker 1: Yeah, I want you to because you bring up. 224 00:11:23,000 --> 00:11:24,680 Speaker 8: An interesting a lot a lot of times. 225 00:11:26,200 --> 00:11:26,440 Speaker 4: Good. 226 00:11:26,440 --> 00:11:28,319 Speaker 8: Oh sorry, Will. I wanted to add one thing. 227 00:11:29,000 --> 00:11:33,040 Speaker 7: So a lot of us have been playing the game 228 00:11:33,080 --> 00:11:36,000 Speaker 7: of football or whatever sport that we're in that we're 229 00:11:36,120 --> 00:11:37,520 Speaker 7: that we're in that make it and we make it 230 00:11:37,520 --> 00:11:38,520 Speaker 7: to the professional level. 231 00:11:38,720 --> 00:11:42,040 Speaker 8: We've been playing since we were seven years old. So 232 00:11:42,160 --> 00:11:43,360 Speaker 8: that's a. 233 00:11:43,480 --> 00:11:49,840 Speaker 7: Minimum of thirteen year experience in diicting myself into learning 234 00:11:49,880 --> 00:11:53,320 Speaker 7: about this sport and perfecting my craft in this sport. 235 00:11:54,200 --> 00:11:57,240 Speaker 8: Now become now be I acquire. 236 00:11:56,920 --> 00:11:59,360 Speaker 7: Some money at twenty years old, twenty one years old 237 00:12:00,160 --> 00:12:05,719 Speaker 7: with zero knowledge on how to manage, grow and preserve it. 238 00:12:06,200 --> 00:12:08,640 Speaker 7: I didn't grow up in my household with a budget, 239 00:12:08,840 --> 00:12:13,320 Speaker 7: you know. So that's another It's another layer of dynamic 240 00:12:13,400 --> 00:12:15,160 Speaker 7: that we have to think about as well on why 241 00:12:15,800 --> 00:12:18,800 Speaker 7: you know, my peers are growing are going broke and. 242 00:12:18,960 --> 00:12:20,840 Speaker 1: I want to add more on more because you just 243 00:12:20,880 --> 00:12:23,520 Speaker 1: made me think of something. You got a community people 244 00:12:23,640 --> 00:12:26,319 Speaker 1: waiting for you to make it so that because you're 245 00:12:26,320 --> 00:12:30,960 Speaker 1: the hope. 246 00:12:31,120 --> 00:12:33,559 Speaker 9: But but but the thing about it is in that situation, 247 00:12:33,720 --> 00:12:40,400 Speaker 9: this is what wealthy people who are successful investors and 248 00:12:40,559 --> 00:12:45,480 Speaker 9: entrepreneurs master formulas and systems, and they know how to 249 00:12:45,520 --> 00:12:46,440 Speaker 9: repeat what they do. 250 00:12:47,080 --> 00:12:47,520 Speaker 1: Mm hmm. 251 00:12:48,559 --> 00:12:53,800 Speaker 9: They know how to repeat it. So you're earning money, 252 00:12:54,040 --> 00:12:57,160 Speaker 9: you're off a plane a game that has an expiration 253 00:12:57,280 --> 00:13:00,560 Speaker 9: date on it, so when you got those people waiting 254 00:13:00,600 --> 00:13:04,000 Speaker 9: on it. It'd be different if I earn the twenty 255 00:13:04,000 --> 00:13:08,360 Speaker 9: million ten million after taxes, after my living expenses, and 256 00:13:08,400 --> 00:13:11,480 Speaker 9: after I pay my professional fees, that ten million that 257 00:13:11,559 --> 00:13:15,800 Speaker 9: got cut in half by taxes is now eight million 258 00:13:15,880 --> 00:13:16,760 Speaker 9: or seven million. 259 00:13:17,400 --> 00:13:19,760 Speaker 11: And now how do I get. 260 00:13:19,559 --> 00:13:24,680 Speaker 9: That money to compound and grow and multiply so that 261 00:13:24,840 --> 00:13:27,040 Speaker 9: I just can't take care of my family for a 262 00:13:27,080 --> 00:13:28,920 Speaker 9: short bit of time, but I can take care of 263 00:13:28,960 --> 00:13:36,040 Speaker 9: them forever. A lot of athletes treat their career earnings 264 00:13:36,040 --> 00:13:38,240 Speaker 9: in their career. 265 00:13:37,960 --> 00:13:39,360 Speaker 11: Days like a long vacation. 266 00:13:40,200 --> 00:13:43,160 Speaker 9: It's like a really really good long vacation, but that 267 00:13:43,280 --> 00:13:47,280 Speaker 9: vacation gonna come to an end because they haven't learned 268 00:13:47,320 --> 00:13:50,320 Speaker 9: how to repeat it and formulate it to where it 269 00:13:50,440 --> 00:13:51,439 Speaker 9: just keeps on going. 270 00:13:53,120 --> 00:13:55,199 Speaker 1: And Michael, I want you to take this one first, 271 00:13:55,200 --> 00:13:57,559 Speaker 1: you know, because I hear stories and you know, I'm 272 00:13:57,600 --> 00:14:00,000 Speaker 1: sure you guys may have heard of similar stories where 273 00:14:00,160 --> 00:14:02,840 Speaker 1: there's as soon as you get that first check, Jay Lien, 274 00:14:03,120 --> 00:14:05,280 Speaker 1: you get that first check in people, your community has 275 00:14:05,280 --> 00:14:07,480 Speaker 1: been waiting on you to get it. Everybody's got a 276 00:14:07,520 --> 00:14:10,680 Speaker 1: business idea around you. Everybody wants you to become their investor. 277 00:14:10,720 --> 00:14:13,840 Speaker 1: Now everybody wants you know, a piece of that check 278 00:14:13,920 --> 00:14:17,520 Speaker 1: that you got. How do you, Michael, as an advisor, 279 00:14:18,160 --> 00:14:21,320 Speaker 1: both help them vet those opportunities and protect them from 280 00:14:21,320 --> 00:14:24,320 Speaker 1: those opportunities because sometimes they may be in such a 281 00:14:24,320 --> 00:14:26,720 Speaker 1: relationship with this person who's bringing this idea that it's 282 00:14:26,720 --> 00:14:27,720 Speaker 1: hard for them to say no. 283 00:14:28,840 --> 00:14:32,480 Speaker 4: Yeah, it's a it's a challenge. It's not easy. 284 00:14:34,680 --> 00:14:41,640 Speaker 9: Because the reprogramming and the the reprogramming and the education 285 00:14:41,800 --> 00:14:45,160 Speaker 9: takes a long time, and it varies based on the individual, 286 00:14:45,520 --> 00:14:47,160 Speaker 9: you know, based on where they are and what they 287 00:14:47,200 --> 00:14:50,880 Speaker 9: come from. And so we don't try to control brothers. 288 00:14:50,920 --> 00:14:53,320 Speaker 9: We just try to educate them. We try to protect them, 289 00:14:53,280 --> 00:14:54,440 Speaker 9: and we try to help them profit. 290 00:14:55,160 --> 00:14:58,560 Speaker 11: But we're going to try to challenge them, explain things 291 00:14:58,600 --> 00:14:58,840 Speaker 11: to them. 292 00:14:58,840 --> 00:15:02,320 Speaker 9: And I think when you're investing the people, fifty percent 293 00:15:02,320 --> 00:15:06,800 Speaker 9: of your investment is not the idea for the product, 294 00:15:06,880 --> 00:15:09,760 Speaker 9: if it's the individual that's leading it. 295 00:15:09,760 --> 00:15:11,120 Speaker 11: It's the jockey, not the horse. 296 00:15:11,800 --> 00:15:14,560 Speaker 9: So if you have a jockey that you are your 297 00:15:14,680 --> 00:15:17,920 Speaker 9: day one and you want to support them, I wouldn't 298 00:15:17,960 --> 00:15:20,520 Speaker 9: recommend supporting them by helping them start a business out 299 00:15:20,560 --> 00:15:21,080 Speaker 9: the gate the. 300 00:15:21,040 --> 00:15:24,520 Speaker 11: Thing and train for. When you hear the stories of 301 00:15:24,920 --> 00:15:27,080 Speaker 11: you know Lebron James and. 302 00:15:27,320 --> 00:15:30,040 Speaker 9: Maverick Carter, the first part of that is that you 303 00:15:30,160 --> 00:15:33,040 Speaker 9: heard of Maverick Carter went to go get educated and 304 00:15:33,080 --> 00:15:34,120 Speaker 9: did an internship. 305 00:15:35,160 --> 00:15:37,480 Speaker 11: When you hear about David Muger Letter is a great 306 00:15:37,520 --> 00:15:39,000 Speaker 11: agent and you know. 307 00:15:39,040 --> 00:15:40,640 Speaker 9: His boys wanted him to go be an agent, he 308 00:15:40,640 --> 00:15:42,560 Speaker 9: wouldn't get an internship. 309 00:15:41,960 --> 00:15:44,360 Speaker 4: With a one you got. 310 00:15:44,400 --> 00:15:46,520 Speaker 9: You got to require for the people that you want 311 00:15:46,520 --> 00:15:50,840 Speaker 9: to support that they get qualified and what they want 312 00:15:50,840 --> 00:15:53,760 Speaker 9: to do. Don't invest in And at what I would 313 00:15:53,760 --> 00:15:56,880 Speaker 9: say is this, those kind of plays are passion players. 314 00:15:57,800 --> 00:16:00,800 Speaker 9: That's about passion. Is this move about es? This move 315 00:16:00,840 --> 00:16:04,600 Speaker 9: about profit? And if it's about profit, we need to 316 00:16:04,600 --> 00:16:06,600 Speaker 9: take a different angle. One of the things that Jalen 317 00:16:06,640 --> 00:16:10,400 Speaker 9: did so intelligently when he launt his MAI, his Minority 318 00:16:10,520 --> 00:16:14,680 Speaker 9: Entrepreneurship Institute, he did that from an impact investing standpoint 319 00:16:14,680 --> 00:16:18,320 Speaker 9: where he was able to invest in people for impact, 320 00:16:19,080 --> 00:16:22,440 Speaker 9: but he did it through his non for profit, so 321 00:16:22,480 --> 00:16:25,280 Speaker 9: those were charitable dollars that he was getting a tax 322 00:16:25,360 --> 00:16:28,760 Speaker 9: right off that can still produce a profit, but to 323 00:16:28,840 --> 00:16:30,160 Speaker 9: his charitable contribution. 324 00:16:31,200 --> 00:16:32,240 Speaker 11: You got to understand him. 325 00:16:32,280 --> 00:16:36,120 Speaker 9: I doing this for charity or profit, and if you're 326 00:16:36,120 --> 00:16:38,120 Speaker 9: doing it solely for profit, you got to look at 327 00:16:38,120 --> 00:16:40,720 Speaker 9: it straight like that as business and a lot of 328 00:16:40,760 --> 00:16:44,000 Speaker 9: the times for the athletes to have this community waiting 329 00:16:44,040 --> 00:16:47,000 Speaker 9: on them, it's an emotional tie have. I got to 330 00:16:47,040 --> 00:16:49,800 Speaker 9: be solid, I gotta be loyal. I got to help 331 00:16:49,800 --> 00:16:52,360 Speaker 9: people out, which I'm all about. I'm all about elevating 332 00:16:52,360 --> 00:16:55,800 Speaker 9: the community and group economics for our people. But we 333 00:16:55,880 --> 00:16:58,640 Speaker 9: got to put a system in place to do that appropriately. 334 00:16:59,040 --> 00:17:02,560 Speaker 1: That's yeah, I'm gonna get it to you Jaylin too. 335 00:17:02,560 --> 00:17:04,600 Speaker 1: But I want to again put another spin on this 336 00:17:04,720 --> 00:17:07,359 Speaker 1: is how do you decide who's a part of your 337 00:17:07,400 --> 00:17:10,199 Speaker 1: business circle versus you got to be in You can 338 00:17:10,240 --> 00:17:12,280 Speaker 1: be in my personal circle, but you're not touching the 339 00:17:12,320 --> 00:17:13,040 Speaker 1: business circle. 340 00:17:14,760 --> 00:17:15,440 Speaker 4: I think. 341 00:17:19,200 --> 00:17:19,879 Speaker 5: You have to. 342 00:17:20,760 --> 00:17:22,639 Speaker 7: You gotta look in the mirror. You got to be 343 00:17:22,720 --> 00:17:29,720 Speaker 7: real with yourself, especially with loved ones. You can identify 344 00:17:29,760 --> 00:17:34,479 Speaker 7: those A lot of a lot of us athletes suffer 345 00:17:34,560 --> 00:17:39,919 Speaker 7: from saviors complex, which is rooted in I do not 346 00:17:40,040 --> 00:17:43,000 Speaker 7: want to I do not like being the only one 347 00:17:43,040 --> 00:17:46,080 Speaker 7: that made it out of my situation of where I'm 348 00:17:46,119 --> 00:17:48,679 Speaker 7: from from my hood, you know, and I had an 349 00:17:48,680 --> 00:17:49,240 Speaker 7: older brother. 350 00:17:49,840 --> 00:17:52,240 Speaker 8: I have an older brother who we played in Dallas 351 00:17:52,240 --> 00:17:53,119 Speaker 8: for three years together. 352 00:17:53,240 --> 00:17:56,439 Speaker 7: Same mom, same dad, so a little different dynamic, but 353 00:17:56,560 --> 00:18:01,800 Speaker 7: still that savior's complex complex exist where I don't like 354 00:18:01,880 --> 00:18:03,520 Speaker 7: being the only one out of my out of my 355 00:18:03,680 --> 00:18:08,040 Speaker 7: friend group that has a mask over a million dollars, 356 00:18:08,359 --> 00:18:12,120 Speaker 7: you know, and a lot of. 357 00:18:12,040 --> 00:18:13,040 Speaker 5: My a lot of my. 358 00:18:13,119 --> 00:18:20,040 Speaker 7: Driving forces of trying to help different individuals that I love. 359 00:18:21,400 --> 00:18:25,360 Speaker 8: Succeed and excel. It's just about finding, Okay, what's. 360 00:18:25,200 --> 00:18:28,320 Speaker 7: The what's this person's talent, what is this person's passion, 361 00:18:28,840 --> 00:18:31,040 Speaker 7: and how can I help support them. 362 00:18:30,880 --> 00:18:33,159 Speaker 5: In growing to that. 363 00:18:34,400 --> 00:18:38,720 Speaker 7: Now, some of some of your loved ones just may 364 00:18:38,760 --> 00:18:41,400 Speaker 7: not be ready, some of them may not have the desire, 365 00:18:41,840 --> 00:18:43,679 Speaker 7: and you just kind of kind of gotta kind of 366 00:18:43,720 --> 00:18:45,679 Speaker 7: love them for for who they are and where they 367 00:18:45,720 --> 00:18:48,840 Speaker 7: are and keep them in this box. But for those 368 00:18:49,240 --> 00:18:53,119 Speaker 7: very few of your loved ones who does desire to 369 00:18:53,160 --> 00:18:56,560 Speaker 7: be great in the entrepreneurial space or whatever may have it, 370 00:18:57,800 --> 00:19:02,080 Speaker 7: you gotta surround them around people who can educate them 371 00:19:02,200 --> 00:19:05,120 Speaker 7: that that grows their mind, grows their mental gives them 372 00:19:05,560 --> 00:19:09,080 Speaker 7: the knowledge to where then they can they may be 373 00:19:09,119 --> 00:19:12,680 Speaker 7: able to add value in your enterprise. But you gotta 374 00:19:13,000 --> 00:19:18,520 Speaker 7: Lebron James. His whole thing with Rich Paul was, I 375 00:19:18,640 --> 00:19:19,760 Speaker 7: just want you around me. 376 00:19:20,000 --> 00:19:20,320 Speaker 8: You can. 377 00:19:20,359 --> 00:19:22,720 Speaker 7: We're gonna find what the space is. We're gonna find 378 00:19:22,760 --> 00:19:25,320 Speaker 7: what the lane is for you. It's about having the 379 00:19:25,400 --> 00:19:29,000 Speaker 7: right people in the right seat, uh, And that's what matter. 380 00:19:29,040 --> 00:19:30,959 Speaker 7: But when it comes to family, you gotta have somebody. 381 00:19:31,119 --> 00:19:33,040 Speaker 7: You gotta have somebody in your corner who can who 382 00:19:33,040 --> 00:19:35,400 Speaker 7: can say no if you don't, if you aren't comfortable 383 00:19:35,400 --> 00:19:38,000 Speaker 7: saying no yet, which you'll grow out of that and 384 00:19:38,040 --> 00:19:40,680 Speaker 7: you'll you'll learn how to how to say no through time. 385 00:19:41,440 --> 00:19:46,719 Speaker 7: But people that you love, you're naturally gonna want to 386 00:19:46,760 --> 00:19:49,159 Speaker 7: see them do great things. You just don't want to 387 00:19:49,920 --> 00:19:55,560 Speaker 7: jeopardize yourself or your financial freedom or the relationship for 388 00:19:56,880 --> 00:20:01,840 Speaker 7: that possible gain until someone has notified you were showed 389 00:20:01,960 --> 00:20:08,119 Speaker 7: or proven that okay, they're ready to add value in that. 390 00:20:09,560 --> 00:20:12,280 Speaker 1: So your company player's health came in at a time 391 00:20:12,720 --> 00:20:14,760 Speaker 1: you started to grow at a time where you know, 392 00:20:16,080 --> 00:20:20,680 Speaker 1: safety protocols. Changes in safety protocols and rising insurance costs 393 00:20:20,880 --> 00:20:25,359 Speaker 1: is a big conversation and discourse. What gaps in the 394 00:20:25,400 --> 00:20:28,560 Speaker 1: market did you see that allowed space for this company? 395 00:20:29,200 --> 00:20:32,040 Speaker 10: So I was actually at the time, I was actually 396 00:20:32,160 --> 00:20:35,359 Speaker 10: volunteering on a youth and amateur sports organization here in Minnesota, 397 00:20:35,880 --> 00:20:40,439 Speaker 10: and our insurance premiums double. Now, youth organizations, as you 398 00:20:40,720 --> 00:20:43,480 Speaker 10: probably know, they don't have a ton of money. You know, 399 00:20:43,640 --> 00:20:49,000 Speaker 10: these are nonprofit organizations. And there are a couple of 400 00:20:49,080 --> 00:20:52,520 Speaker 10: factors that led to the increase of those costs. One, 401 00:20:52,840 --> 00:20:57,200 Speaker 10: the insurance companies were paying out tons in liability lawsuits, 402 00:20:57,359 --> 00:21:01,159 Speaker 10: specifically around concussions and abuse. Most of it was abuse, 403 00:21:01,880 --> 00:21:04,680 Speaker 10: So your boy Scouts that was a six hundred million 404 00:21:04,720 --> 00:21:09,120 Speaker 10: dollar lawsuits. You know, USA Gymnastics a billion dollar lawsuit. 405 00:21:09,600 --> 00:21:12,720 Speaker 10: So just those two incidents, loans over one point five 406 00:21:13,200 --> 00:21:15,560 Speaker 10: one point six billion dollars was paid out, and the 407 00:21:15,680 --> 00:21:19,120 Speaker 10: carriers are sharing that cost. We all have to share 408 00:21:19,160 --> 00:21:22,440 Speaker 10: that cost as a risk, and so they're doing some 409 00:21:22,480 --> 00:21:25,840 Speaker 10: actuarial analysis that says we now have to charge X 410 00:21:25,880 --> 00:21:28,800 Speaker 10: to offset you know what we're paying out. And we 411 00:21:28,880 --> 00:21:31,760 Speaker 10: just saw that there were some huge gaps in being 412 00:21:31,800 --> 00:21:36,880 Speaker 10: proactive about the risk because prior to those incidents, those 413 00:21:36,960 --> 00:21:40,920 Speaker 10: organizations were considered good risk. And the way that insurance 414 00:21:40,920 --> 00:21:44,160 Speaker 10: companies used to look at sports organizations where as long 415 00:21:44,200 --> 00:21:46,440 Speaker 10: as you haven't had any claims, you're a good risk. 416 00:21:46,800 --> 00:21:49,880 Speaker 10: But they had no internal visibility around what was happening 417 00:21:49,960 --> 00:21:53,440 Speaker 10: day in and day out to reduce the likelihood that 418 00:21:53,800 --> 00:21:56,960 Speaker 10: a USA Gymnastis could happen or Boy Scouts could happen. 419 00:21:57,520 --> 00:22:00,280 Speaker 10: And that's the that's the gap that we saw thought 420 00:22:00,280 --> 00:22:03,200 Speaker 10: there was a huge need for risk management and visibility 421 00:22:03,200 --> 00:22:05,639 Speaker 10: of what was actually happening on the boots on the ground. 422 00:22:06,080 --> 00:22:08,440 Speaker 10: And then we want to wincentivize organizations to do the 423 00:22:08,520 --> 00:22:11,359 Speaker 10: right thing, and the best way to incentivize them is 424 00:22:11,400 --> 00:22:14,159 Speaker 10: to give them discounts on what is their largest expense, 425 00:22:14,200 --> 00:22:18,080 Speaker 10: which happens to be insurance. And so when our insurance 426 00:22:18,080 --> 00:22:21,239 Speaker 10: premium is doubled, I'm asking our broker, hey, why are 427 00:22:21,240 --> 00:22:22,919 Speaker 10: we paying all of this? And he's telling me that 428 00:22:23,000 --> 00:22:25,679 Speaker 10: this is happening in the marketplace, and I had this 429 00:22:25,800 --> 00:22:29,280 Speaker 10: aha moment around, well, we need to bridge the gap, 430 00:22:29,359 --> 00:22:32,879 Speaker 10: provide visibility of risk to our clients, give them tools 431 00:22:32,880 --> 00:22:35,960 Speaker 10: to manage it, and then give them affordable insurance when 432 00:22:35,960 --> 00:22:37,160 Speaker 10: they do the right things. 433 00:22:37,840 --> 00:22:39,840 Speaker 1: You know, you use the visibility there A couple of 434 00:22:39,840 --> 00:22:42,240 Speaker 1: times I think about transparency, which is another way to 435 00:22:42,280 --> 00:22:47,960 Speaker 1: say that. And is it more that the insurance companies 436 00:22:48,040 --> 00:22:52,520 Speaker 1: don't really know what's happening at practice, at the games etcenta, 437 00:22:52,800 --> 00:22:55,840 Speaker 1: or is it that the transparency from what goes into 438 00:22:55,960 --> 00:22:59,560 Speaker 1: the insurance premium is not clear to the consumer. 439 00:23:00,119 --> 00:23:05,240 Speaker 10: That's a really good question. Well, the bigger issue specifically 440 00:23:05,240 --> 00:23:07,840 Speaker 10: around that is that the carrier is so removed from 441 00:23:07,880 --> 00:23:12,520 Speaker 10: the athlete the insurance there's there's there's a broker which 442 00:23:12,560 --> 00:23:15,119 Speaker 10: sells the product, and then there's the insurance carrier that 443 00:23:15,240 --> 00:23:19,120 Speaker 10: really just access the bank paying the claims. They're there, 444 00:23:19,320 --> 00:23:22,440 Speaker 10: they have the contract and they're managing the insurance coverage. 445 00:23:23,119 --> 00:23:26,959 Speaker 10: The broker actually has boots on the ground, they're interacting 446 00:23:27,080 --> 00:23:30,960 Speaker 10: with the sports organization. They're there as the risk advisor. 447 00:23:31,480 --> 00:23:33,639 Speaker 10: But what we've identified is there are a number of 448 00:23:33,680 --> 00:23:37,760 Speaker 10: brokers that are just the pedal policies. They're there to 449 00:23:37,880 --> 00:23:41,840 Speaker 10: sell an insurance policy, and then when the incidents happen 450 00:23:41,960 --> 00:23:45,840 Speaker 10: because brokers they're not they're not penalized if there is 451 00:23:45,880 --> 00:23:48,840 Speaker 10: a claim. They only get paid when they sell a policy, 452 00:23:49,280 --> 00:23:54,639 Speaker 10: so they're not incentivized to ensure that organizations are implementing 453 00:23:54,720 --> 00:23:57,840 Speaker 10: these policies and protocols. And I think that's the different 454 00:23:57,880 --> 00:24:00,240 Speaker 10: business model that we have and that we've take making 455 00:24:00,760 --> 00:24:04,760 Speaker 10: a more comprehensive approach around how we sell the insurance 456 00:24:04,760 --> 00:24:07,760 Speaker 10: because we are a broker, but we are also a market. 457 00:24:08,000 --> 00:24:11,199 Speaker 10: We underwrite and price our own risk, and we have 458 00:24:11,280 --> 00:24:14,320 Speaker 10: our own insurance capacity that we have to protect, so 459 00:24:14,359 --> 00:24:17,200 Speaker 10: we have the same responsibility as a carrier to make 460 00:24:17,200 --> 00:24:19,000 Speaker 10: sure that we're not pan out a lot of claims. 461 00:24:19,359 --> 00:24:21,680 Speaker 10: And we also are broker and we have boots on 462 00:24:21,720 --> 00:24:23,639 Speaker 10: the ground to work with these organizations day in and 463 00:24:23,720 --> 00:24:24,040 Speaker 10: day out. 464 00:24:25,040 --> 00:24:29,920 Speaker 1: What unique value did your background as an athlete give 465 00:24:29,960 --> 00:24:31,640 Speaker 1: you when you started this business. 466 00:24:33,240 --> 00:24:34,640 Speaker 5: Honestly, it got me in the room. 467 00:24:34,920 --> 00:24:38,440 Speaker 10: Like when I first started the company, I really I 468 00:24:38,440 --> 00:24:39,760 Speaker 10: didn't know anything about business. 469 00:24:39,760 --> 00:24:40,160 Speaker 5: Honestly. 470 00:24:41,000 --> 00:24:44,119 Speaker 10: I came fresh from playing football and I was just 471 00:24:44,240 --> 00:24:48,040 Speaker 10: all passion. I had this idea to create safe spaces 472 00:24:48,040 --> 00:24:50,720 Speaker 10: for kids to play sports. It was really simple and 473 00:24:50,960 --> 00:24:53,280 Speaker 10: injuries because I had so many injuries. I'm like, you 474 00:24:53,320 --> 00:24:57,679 Speaker 10: know what, we need to create a documentation system and 475 00:24:57,760 --> 00:25:01,000 Speaker 10: a policy and protocol about how we manage injury youth athletes. 476 00:25:01,040 --> 00:25:03,560 Speaker 10: That was the simple version of what we were thinking 477 00:25:03,600 --> 00:25:06,960 Speaker 10: about doing. And I was able to get into rooms 478 00:25:07,000 --> 00:25:09,159 Speaker 10: that you wouldn't normally be able to get into. You know, 479 00:25:09,200 --> 00:25:12,199 Speaker 10: I was talking with you know, the chief Medical officer 480 00:25:12,280 --> 00:25:15,280 Speaker 10: or the NFL. You know, I got a chance to 481 00:25:15,320 --> 00:25:19,560 Speaker 10: get a ton of insight from executives in sports and 482 00:25:19,880 --> 00:25:24,359 Speaker 10: athletic directors at universities and high schools and other organizations 483 00:25:24,359 --> 00:25:27,800 Speaker 10: because I was a professional athlete and because I can 484 00:25:27,880 --> 00:25:30,679 Speaker 10: talk to Lango and all of those other pieces. So 485 00:25:30,880 --> 00:25:33,680 Speaker 10: it got me. It gave me a huge opportunity to 486 00:25:33,960 --> 00:25:36,080 Speaker 10: get in the door. But it also gave me the 487 00:25:36,080 --> 00:25:40,280 Speaker 10: resilience on the thousands of know's that I would get, 488 00:25:40,600 --> 00:25:42,600 Speaker 10: you know, to you know, to keep fighting and keep 489 00:25:42,600 --> 00:25:44,280 Speaker 10: making this thing happen when it got tough. 490 00:25:45,320 --> 00:25:48,440 Speaker 1: Also, I mean ask a different question with that same foundation, 491 00:25:48,640 --> 00:25:51,159 Speaker 1: is like when you started talking to investors, you know, 492 00:25:51,600 --> 00:25:54,800 Speaker 1: they saw an athlete who's like ready, all passion, you know, 493 00:25:54,920 --> 00:25:57,160 Speaker 1: pit Bull, China Shop, I'm just ready to go, let's go. 494 00:25:57,760 --> 00:26:00,680 Speaker 1: Like what makes them write the check when they see 495 00:26:00,920 --> 00:26:03,440 Speaker 1: just the passion? But to your point, not a whole 496 00:26:03,440 --> 00:26:04,879 Speaker 1: lot of professional experience. 497 00:26:05,520 --> 00:26:09,320 Speaker 10: Yeah, that's a super Honestly, in the beginning, I can't 498 00:26:09,359 --> 00:26:13,040 Speaker 10: tell you. I think people just saw my commitment in 499 00:26:13,080 --> 00:26:16,960 Speaker 10: the beginning. I've always been a hustler. I wear my 500 00:26:17,000 --> 00:26:19,960 Speaker 10: heart on my sleeves. So when I do something, I'm committed, 501 00:26:20,320 --> 00:26:22,560 Speaker 10: and I think people feel that when they come in 502 00:26:22,600 --> 00:26:26,359 Speaker 10: contact with me. And so my first introduct, my first 503 00:26:26,400 --> 00:26:29,520 Speaker 10: investor was my agent. He was my sports agent. So 504 00:26:29,560 --> 00:26:31,840 Speaker 10: these are people that knew me. They knew how committed 505 00:26:31,880 --> 00:26:34,199 Speaker 10: I was. He knew that, you know, I wasn't a 506 00:26:34,200 --> 00:26:37,919 Speaker 10: big name athlete. I used to pay to go to tryouts, 507 00:26:38,560 --> 00:26:42,400 Speaker 10: you know where there's three four hundred guys and I'm 508 00:26:42,440 --> 00:26:44,680 Speaker 10: the last guy there, you know, making the team. 509 00:26:45,160 --> 00:26:46,600 Speaker 5: And so he believed in me. 510 00:26:46,720 --> 00:26:49,960 Speaker 10: And he was my first investor, you know, and the 511 00:26:50,000 --> 00:26:52,240 Speaker 10: first other call it big investors that I had. 512 00:26:52,880 --> 00:26:55,240 Speaker 5: Really, I think a lot of them just I didn't 513 00:26:55,280 --> 00:26:56,600 Speaker 5: take the first no personal. 514 00:26:57,440 --> 00:26:59,879 Speaker 10: Most of the time I talk with investor that the 515 00:27:00,040 --> 00:27:03,400 Speaker 10: first time, it was like, yeah, we'll talk in six months. 516 00:27:03,960 --> 00:27:06,600 Speaker 10: But I always followed up. My follow up game was strong. 517 00:27:06,920 --> 00:27:09,080 Speaker 10: And then every time I followed up everything I told 518 00:27:09,160 --> 00:27:10,399 Speaker 10: him I was going to do. At the time I 519 00:27:10,440 --> 00:27:13,760 Speaker 10: met him I had done, and so I think that 520 00:27:13,760 --> 00:27:17,000 Speaker 10: that helped me, you know, get get in the door, 521 00:27:17,080 --> 00:27:20,240 Speaker 10: so to speak, because I was consistent with my message 522 00:27:20,440 --> 00:27:23,320 Speaker 10: and I held myself accountable to to be who I said. 523 00:27:23,119 --> 00:27:23,719 Speaker 5: I was going to be. 524 00:27:24,200 --> 00:27:25,960 Speaker 1: You know, I like what you just said about Terrence 525 00:27:26,040 --> 00:27:27,800 Speaker 1: learning in public and Terrence. I'm asked you because I 526 00:27:27,880 --> 00:27:31,480 Speaker 1: read something that where you were quoted as saying hearing 527 00:27:31,520 --> 00:27:35,439 Speaker 1: that Staples turned into crypto arena like definitely opened my 528 00:27:35,480 --> 00:27:39,480 Speaker 1: eyes to what's going on in this space, is that 529 00:27:39,520 --> 00:27:42,000 Speaker 1: it's going to be huge eventually, and it definitely helped 530 00:27:42,000 --> 00:27:44,000 Speaker 1: me realize that I have to get involved and get 531 00:27:44,040 --> 00:27:47,159 Speaker 1: people who look like me on the wave. And so 532 00:27:47,720 --> 00:27:50,480 Speaker 1: it sounds like you didn't just dip your toe into 533 00:27:50,520 --> 00:27:52,960 Speaker 1: the water of crypto and Web three, but like. 534 00:27:52,880 --> 00:27:53,680 Speaker 4: You went all in. 535 00:27:53,840 --> 00:27:55,840 Speaker 1: So if you can tell me about it's like some 536 00:27:55,960 --> 00:27:59,680 Speaker 1: of the ways you began to educate yourself with regardings 537 00:27:59,720 --> 00:28:01,120 Speaker 1: what regarding Web three. 538 00:28:02,520 --> 00:28:05,879 Speaker 12: I think just through you know, Julian and his team 539 00:28:06,000 --> 00:28:08,520 Speaker 12: and my team just collaborating, having a whole bunch of 540 00:28:09,080 --> 00:28:12,360 Speaker 12: conversations around the space before even getting all the way 541 00:28:12,359 --> 00:28:15,320 Speaker 12: into it. And then obviously, you know, when I went 542 00:28:15,400 --> 00:28:17,920 Speaker 12: to the NFT NFTs events in New York. 543 00:28:18,000 --> 00:28:21,240 Speaker 13: That really opened my eyes to where I got to 544 00:28:21,320 --> 00:28:21,840 Speaker 13: see how. 545 00:28:21,840 --> 00:28:24,680 Speaker 12: Big, you know a space it is and it's gonna be, 546 00:28:25,320 --> 00:28:27,359 Speaker 12: how many people are involved, and you know, all the 547 00:28:27,400 --> 00:28:30,320 Speaker 12: different things going on. So you know, just jumping right 548 00:28:30,359 --> 00:28:32,840 Speaker 12: into it and just seeing it for myself going to 549 00:28:32,920 --> 00:28:36,119 Speaker 12: New York and everything really helped me out and and 550 00:28:36,320 --> 00:28:37,040 Speaker 12: it brought me here. 551 00:28:38,120 --> 00:28:41,280 Speaker 1: Do you which part of the web three conversation particularly 552 00:28:41,400 --> 00:28:43,880 Speaker 1: interested you? If you're talking about tokens on one end, 553 00:28:44,240 --> 00:28:46,400 Speaker 1: you're talking about the metaverse one another hand, you talking 554 00:28:46,400 --> 00:28:48,840 Speaker 1: about NFTs, like, which what particularly interested you? 555 00:28:48,920 --> 00:28:50,840 Speaker 13: I think for me? I think for me it's a 556 00:28:50,920 --> 00:28:51,920 Speaker 13: metaverse as a whole. 557 00:28:52,400 --> 00:28:55,280 Speaker 12: Just you know, growing up playing video games as much 558 00:28:55,320 --> 00:28:58,440 Speaker 12: as I did, it really gave me that that type 559 00:28:58,440 --> 00:29:00,560 Speaker 12: of feel you know that almost that have a granted 560 00:29:00,640 --> 00:29:04,240 Speaker 12: flatto field, you know, where people are creating their own stuff, 561 00:29:04,360 --> 00:29:06,880 Speaker 12: having their own type of vibe on their playing. 562 00:29:06,680 --> 00:29:07,800 Speaker 13: Different sorts of games. 563 00:29:07,920 --> 00:29:11,120 Speaker 12: When in tokens, whening, you know, exchanging real you know, 564 00:29:11,240 --> 00:29:14,640 Speaker 12: crypto money on there, just the whole whole vibely you know, 565 00:29:14,800 --> 00:29:17,000 Speaker 12: tracting me just from me being a gamer growing up, 566 00:29:18,000 --> 00:29:18,720 Speaker 12: and this is this is. 567 00:29:18,720 --> 00:29:20,880 Speaker 1: One for both of you, guys. I'm super interested in 568 00:29:22,840 --> 00:29:26,560 Speaker 1: the benefits of having an athletic background. So I think about, 569 00:29:26,960 --> 00:29:29,040 Speaker 1: you know, when you're coming up as an athlete, you've 570 00:29:29,080 --> 00:29:32,000 Speaker 1: got a couple and one maybe you've got a coach 571 00:29:32,000 --> 00:29:35,520 Speaker 1: who's there for your development, and then you have, you know, 572 00:29:35,640 --> 00:29:39,360 Speaker 1: the camaraderie, you have a team environment, and those all 573 00:29:39,400 --> 00:29:41,360 Speaker 1: help to build character even outside of. 574 00:29:41,360 --> 00:29:42,720 Speaker 2: The field, off of the court. 575 00:29:43,960 --> 00:29:47,680 Speaker 1: Like, what would you say are some of the things 576 00:29:47,760 --> 00:29:51,320 Speaker 1: that sports equipped you with outside of you know, the 577 00:29:51,360 --> 00:29:55,320 Speaker 1: ones I just mentioned to helping you find business success? 578 00:29:58,920 --> 00:30:01,480 Speaker 2: Myself, I would say understanding the grind. 579 00:30:02,080 --> 00:30:05,320 Speaker 6: And when I say the grind, when you're playing and 580 00:30:05,400 --> 00:30:09,080 Speaker 6: you're achieving in any any skill or any type of 581 00:30:09,200 --> 00:30:11,320 Speaker 6: job and you reach that one percent, which obviously the 582 00:30:11,440 --> 00:30:13,120 Speaker 6: NBA is. But even if you play Division two like 583 00:30:13,200 --> 00:30:16,080 Speaker 6: I did, you're gonna go through tough times. You know, 584 00:30:16,320 --> 00:30:18,120 Speaker 6: as as we see now with the economy, almost every 585 00:30:18,160 --> 00:30:20,240 Speaker 6: business out there is cognizant of what's going on in 586 00:30:20,320 --> 00:30:23,320 Speaker 6: regards to the economic downturn that we're looking at here. 587 00:30:23,880 --> 00:30:25,440 Speaker 2: Same things are going to happen in business. 588 00:30:25,480 --> 00:30:27,200 Speaker 6: You're gonna have your ebbs and flows, You're gonna have 589 00:30:27,320 --> 00:30:28,760 Speaker 6: great moments, You're also are going to have your very 590 00:30:28,800 --> 00:30:31,120 Speaker 6: low moments. But I think playing sports and also being 591 00:30:31,160 --> 00:30:34,040 Speaker 6: a leader, specifically in basketball, you're very used to, hey, 592 00:30:34,120 --> 00:30:36,080 Speaker 6: we might be down fifteen, but there's twenty minutes left 593 00:30:36,120 --> 00:30:38,000 Speaker 6: on the you know, obviously on the clock. 594 00:30:38,040 --> 00:30:38,160 Speaker 4: Here. 595 00:30:38,600 --> 00:30:41,760 Speaker 6: That being said, you're able to identify what you need 596 00:30:41,840 --> 00:30:43,960 Speaker 6: to do personally to win, and if you're a leader, 597 00:30:44,000 --> 00:30:46,400 Speaker 6: you're also able to identify what you need from everyone 598 00:30:46,480 --> 00:30:48,200 Speaker 6: around you and how to bring it out of them. 599 00:30:48,520 --> 00:30:50,920 Speaker 6: Same thing in business, obviously, the motivation is a little 600 00:30:50,960 --> 00:30:53,960 Speaker 6: bit different. People have families, people are working for financial gain, 601 00:30:54,080 --> 00:30:57,120 Speaker 6: things of that nature. But within sports you learn how 602 00:30:57,320 --> 00:30:59,480 Speaker 6: through you know, obviously they kind of like going through 603 00:30:59,520 --> 00:31:03,040 Speaker 6: hell that the only ways through. And that's something that 604 00:31:03,080 --> 00:31:05,920 Speaker 6: I've seen in business that's been really really helpful for me. 605 00:31:06,320 --> 00:31:09,480 Speaker 6: And then obviously starting a career, any industry, any any 606 00:31:09,600 --> 00:31:11,680 Speaker 6: any skill that you you want to continue to learn. 607 00:31:12,080 --> 00:31:13,680 Speaker 6: At first, you know you're going to go out there, 608 00:31:13,720 --> 00:31:15,800 Speaker 6: you can barely make a layup, but you might look 609 00:31:15,840 --> 00:31:17,479 Speaker 6: back twenty years later planning for the Clippers. 610 00:31:17,560 --> 00:31:19,760 Speaker 2: So you know, you're also very very aware that you 611 00:31:19,880 --> 00:31:20,640 Speaker 2: have to start somewhere. 612 00:31:21,680 --> 00:31:24,320 Speaker 13: What would you say too, yeah, I think for me, 613 00:31:24,560 --> 00:31:26,160 Speaker 13: you know, other than the grind. You know, that's a 614 00:31:26,240 --> 00:31:29,440 Speaker 13: great one. I can relate to that for sure, But 615 00:31:29,520 --> 00:31:31,080 Speaker 13: I think just everybody. 616 00:31:30,760 --> 00:31:32,680 Speaker 12: Kind of knowing their role and knowing what they bring 617 00:31:32,760 --> 00:31:35,520 Speaker 12: to the table, and just being on so many different 618 00:31:35,560 --> 00:31:38,280 Speaker 12: teams that I've been on, you know, being in college 619 00:31:38,320 --> 00:31:40,320 Speaker 12: for four years now going into my fourth year in 620 00:31:40,360 --> 00:31:44,160 Speaker 12: the NBA, just all the different teammates I had, just learning, 621 00:31:44,400 --> 00:31:45,960 Speaker 12: you know, learning about your team. 622 00:31:45,800 --> 00:31:47,360 Speaker 13: And learning about what everybody can bring. 623 00:31:48,000 --> 00:31:51,360 Speaker 12: Kind of have an understanding of your team and what 624 00:31:51,520 --> 00:31:54,120 Speaker 12: you can bring, who's who can lead, you know, who 625 00:31:54,200 --> 00:31:56,120 Speaker 12: needs to follow, different type of sorts of things like 626 00:31:56,200 --> 00:31:59,680 Speaker 12: that definitely go directly hand in hand with business. And 627 00:31:59,760 --> 00:32:01,480 Speaker 12: that's while we've been able to, you know, kind of 628 00:32:01,880 --> 00:32:05,440 Speaker 12: do what we've been doing because we understand that everybody's 629 00:32:05,480 --> 00:32:06,000 Speaker 12: been grinding. 630 00:32:07,320 --> 00:32:09,600 Speaker 1: And yeah, so Julian, like I think about this because 631 00:32:09,640 --> 00:32:12,040 Speaker 1: as you mentioned a couple of things that actually both 632 00:32:12,080 --> 00:32:14,120 Speaker 1: of you guys talked about this. So any either one 633 00:32:14,160 --> 00:32:16,200 Speaker 1: if you can chime in, But I'll ask Julian to first, 634 00:32:16,360 --> 00:32:19,560 Speaker 1: is you know Crypto's not performing well right now. The 635 00:32:19,640 --> 00:32:23,480 Speaker 1: tokens is we're down in the moment. How do you 636 00:32:23,880 --> 00:32:26,800 Speaker 1: both and Julian and go first on this. How do 637 00:32:26,960 --> 00:32:31,080 Speaker 1: you manage when you're building something based on blockchain technology 638 00:32:31,160 --> 00:32:34,280 Speaker 1: and so you're betting on long the long term here 639 00:32:34,880 --> 00:32:37,080 Speaker 1: and so when you have these wild swings like we 640 00:32:37,240 --> 00:32:39,560 Speaker 1: have right now, how are you managing the ups and 641 00:32:39,720 --> 00:32:45,280 Speaker 1: downs of crypto mentally and in your business? 642 00:32:48,560 --> 00:32:50,480 Speaker 2: You just got to be cognizant of of of the 643 00:32:50,520 --> 00:32:52,920 Speaker 2: waves that are to common. Obviously prepare for them. 644 00:32:53,640 --> 00:32:55,920 Speaker 6: That being said, you know, with crypto going up and down, 645 00:32:56,440 --> 00:32:58,640 Speaker 6: one thing I always like to spread, especially you know 646 00:32:58,680 --> 00:33:00,080 Speaker 6: with people that look like us, is you need to 647 00:33:00,120 --> 00:33:02,160 Speaker 6: have leverage. Don't put all your eggs in one basket. 648 00:33:02,680 --> 00:33:04,640 Speaker 6: That being said, you need to make sure you're diversified 649 00:33:04,680 --> 00:33:07,120 Speaker 6: where your money is. So crypto being down, I'm also 650 00:33:07,200 --> 00:33:10,560 Speaker 6: invested on the things that benefit by that, But looking 651 00:33:10,600 --> 00:33:12,600 Speaker 6: at it from a holistic perspective. 652 00:33:13,600 --> 00:33:14,840 Speaker 2: It really makes it boil down. 653 00:33:14,920 --> 00:33:15,640 Speaker 13: So what are you here for? 654 00:33:16,640 --> 00:33:19,240 Speaker 6: You know, specifically with myself and Terrence and Mellow our 655 00:33:19,280 --> 00:33:22,920 Speaker 6: other partner, we haven't asked a dollar from anyone in 656 00:33:23,040 --> 00:33:26,440 Speaker 6: regards to any NFTs in the crypto space. You know, 657 00:33:26,520 --> 00:33:28,880 Speaker 6: we haven't done anything to say, hey, this is Terrence man, 658 00:33:29,360 --> 00:33:31,320 Speaker 6: this is a celebrity. This is why we want you 659 00:33:31,360 --> 00:33:32,920 Speaker 6: to go and buy this project. That's not really what 660 00:33:33,000 --> 00:33:35,480 Speaker 6: we're looking to do here. We're looking to draw on awareness. 661 00:33:35,600 --> 00:33:37,280 Speaker 6: And I think something that you had mentioned I watched 662 00:33:37,280 --> 00:33:39,640 Speaker 6: a couple of year podcasts was really talking about the 663 00:33:39,680 --> 00:33:42,440 Speaker 6: black experience and culture being at the foundation of all 664 00:33:42,520 --> 00:33:44,520 Speaker 6: of these apps. And I work in tech and I'm 665 00:33:44,560 --> 00:33:46,760 Speaker 6: around NBA players a lot, and I always try to 666 00:33:46,800 --> 00:33:49,720 Speaker 6: bring that awareness that, hey, everything that we're utilizing, no 667 00:33:49,800 --> 00:33:52,720 Speaker 6: matter what appened, is somebody created this. And I take 668 00:33:52,720 --> 00:33:55,160 Speaker 6: a look at the NBA guys, I know THEA, the 669 00:33:55,400 --> 00:33:57,800 Speaker 6: NFL guys, I know the w NBA players, and I 670 00:33:57,920 --> 00:33:59,560 Speaker 6: take a look back at how many people I know 671 00:33:59,640 --> 00:34:02,080 Speaker 6: and just how many slots are in those leagues. And 672 00:34:02,200 --> 00:34:04,160 Speaker 6: I want to kind of put that attention to say, hey, 673 00:34:05,000 --> 00:34:07,760 Speaker 6: even in crypto, when it's down, things aren't going well, 674 00:34:07,880 --> 00:34:10,400 Speaker 6: things are not, you know, soaring in terms of evaluations, 675 00:34:10,840 --> 00:34:13,960 Speaker 6: We're still continuing to build because our mission doesn't change 676 00:34:13,960 --> 00:34:16,600 Speaker 6: whether Ethereum is fifteen hundred dollars or four thousand dollars. 677 00:34:16,840 --> 00:34:18,799 Speaker 6: We're still going to continue to do the same things. 678 00:34:19,080 --> 00:34:20,879 Speaker 6: And we started doing that when it was high. When 679 00:34:20,880 --> 00:34:21,239 Speaker 6: it's low. 680 00:34:21,239 --> 00:34:23,560 Speaker 2: We're not going to change, so the mission remains the same. 681 00:34:25,200 --> 00:34:28,640 Speaker 1: What did you say, Terrence, how are you managing these waves? 682 00:34:30,440 --> 00:34:30,640 Speaker 5: Yeah? 683 00:34:30,680 --> 00:34:32,880 Speaker 12: I mean, like he said, it's going to be ups 684 00:34:32,920 --> 00:34:35,880 Speaker 12: and downs, and you know, I think, I think just 685 00:34:35,920 --> 00:34:38,080 Speaker 12: the conversation around it, you know, I think we need 686 00:34:38,239 --> 00:34:41,680 Speaker 12: to keep the conversation going, you know, keep having people 687 00:34:41,800 --> 00:34:44,799 Speaker 12: talk about it, you know, just so people can see 688 00:34:44,880 --> 00:34:46,680 Speaker 12: that it's a thing and it's there that people are 689 00:34:46,719 --> 00:34:48,320 Speaker 12: because I think, you know, that's the thing about it. 690 00:34:48,400 --> 00:34:50,200 Speaker 13: Right now, a lot of people are like, no, I 691 00:34:50,239 --> 00:34:53,200 Speaker 13: don't see nothing happening. It's going down. They just hear say, 692 00:34:53,400 --> 00:34:55,120 Speaker 13: you know, he says, she say, so. 693 00:34:55,239 --> 00:34:57,400 Speaker 12: I think just asking questions and learning more about it, 694 00:34:57,600 --> 00:35:00,640 Speaker 12: educate yourself on it, and just keep the common stations going,