1 00:00:06,360 --> 00:00:09,320 Speaker 1: Welcome to the show. I'm Rashaan McDonald, the host of 2 00:00:09,400 --> 00:00:13,240 Speaker 1: Money Making Conversations Masterclass, where we encourage people to stop 3 00:00:13,280 --> 00:00:16,720 Speaker 1: reading other people's success stories and start planning their own. 4 00:00:17,280 --> 00:00:20,720 Speaker 1: Listen up as I interview entrepreneurs from around the country, 5 00:00:21,000 --> 00:00:24,600 Speaker 1: talk to celebrities and ask them how they're running their companies, 6 00:00:24,760 --> 00:00:27,320 Speaker 1: and speak with dog profits who are making a difference 7 00:00:27,360 --> 00:00:28,760 Speaker 1: in their local communities. 8 00:00:29,040 --> 00:00:31,680 Speaker 2: Now, sit back and listen as we unlock the secrets 9 00:00:31,720 --> 00:00:36,760 Speaker 2: to their success on Money Making Conversations Masterclass. The interviews 10 00:00:36,800 --> 00:00:39,760 Speaker 2: and information that this show provides are for everyone. It's 11 00:00:39,760 --> 00:00:42,480 Speaker 2: time to stop reading other people's success stories and start 12 00:00:42,520 --> 00:00:44,960 Speaker 2: living your own. I'm here to help you reach your 13 00:00:45,000 --> 00:00:48,239 Speaker 2: American dream. Just keep listening, hanging in with me. I'll 14 00:00:48,280 --> 00:00:49,920 Speaker 2: give you a tip, or my guests we'll give you 15 00:00:49,960 --> 00:00:53,880 Speaker 2: some advice because it's all about information when you're listening 16 00:00:53,880 --> 00:00:56,520 Speaker 2: to Money Making Conversation Masterclass. If you want to be 17 00:00:56,560 --> 00:01:00,240 Speaker 2: a guest on the show, please visit Moneymakingconversation dot com 18 00:01:00,480 --> 00:01:03,040 Speaker 2: and click the b a guest button and submit your information. 19 00:01:03,400 --> 00:01:05,800 Speaker 2: IF will screen your information and if if it's the 20 00:01:05,959 --> 00:01:08,200 Speaker 2: type of guests we want on the show, I will 21 00:01:08,240 --> 00:01:11,560 Speaker 2: personally contact you and we'll see how that goes. Now, 22 00:01:11,640 --> 00:01:14,600 Speaker 2: let's get started with my guests. My guest's career. 23 00:01:14,319 --> 00:01:17,479 Speaker 1: In business started in twenty thirteen, with him serving as 24 00:01:17,560 --> 00:01:22,000 Speaker 1: president and CEO of Isaac Hayes Enterprises, managing the name 25 00:01:22,760 --> 00:01:27,640 Speaker 1: Image Likeness, Brand Masters, and publishing catalog of his soul 26 00:01:27,959 --> 00:01:31,320 Speaker 1: icon father, the late Isaac Hayes. He is also a 27 00:01:31,400 --> 00:01:35,800 Speaker 1: visionary with the goal to change social media forever. That 28 00:01:35,959 --> 00:01:40,280 Speaker 1: vision is fan based. Please welcome the money making Conversations masterclass, 29 00:01:40,560 --> 00:01:42,880 Speaker 1: Isaac Hayes. How you doing, my brother? 30 00:01:43,640 --> 00:01:44,679 Speaker 3: What's good? What's going on? 31 00:01:44,760 --> 00:01:46,640 Speaker 1: How are you come on with this strong voice in 32 00:01:46,680 --> 00:01:48,680 Speaker 1: my little raggedy voice. Come on, Isaac, don't do me 33 00:01:48,760 --> 00:01:48,960 Speaker 1: like that. 34 00:01:49,040 --> 00:01:49,200 Speaker 3: Man. 35 00:01:49,240 --> 00:01:50,040 Speaker 1: Don't do me like that. 36 00:01:50,080 --> 00:01:50,480 Speaker 3: Man. 37 00:01:50,680 --> 00:01:53,080 Speaker 1: That strong, powerful voice he just popped out of there. 38 00:01:53,120 --> 00:01:54,440 Speaker 1: How you doing so, you're doing good? 39 00:01:55,200 --> 00:01:57,200 Speaker 3: I'm doing great on this rune. How are you well? 40 00:01:57,200 --> 00:01:59,559 Speaker 1: You know, I'm glad you came on the show because 41 00:01:59,560 --> 00:02:02,960 Speaker 1: of the fact that you know, it's been a period 42 00:02:03,000 --> 00:02:05,640 Speaker 1: here like Lebron and his father, you know, LEBRONI and 43 00:02:05,720 --> 00:02:08,560 Speaker 1: Lebron's playing and you and you get into this point 44 00:02:08,600 --> 00:02:11,120 Speaker 1: where you you have a famous name that you that 45 00:02:11,200 --> 00:02:15,680 Speaker 1: you were given. What is there a burden or is 46 00:02:15,680 --> 00:02:18,160 Speaker 1: there a blessing for you? Can you can you can 47 00:02:18,639 --> 00:02:20,480 Speaker 1: you share that with my audience before we get into 48 00:02:20,480 --> 00:02:21,000 Speaker 1: your interview. 49 00:02:21,919 --> 00:02:24,120 Speaker 3: I think it's both. I mean, I started out as 50 00:02:24,120 --> 00:02:28,079 Speaker 3: a music producer in the year I produced music from 51 00:02:28,120 --> 00:02:31,959 Speaker 3: two thousand to like two thousands almost twenty, I mean, 52 00:02:32,200 --> 00:02:34,880 Speaker 3: you know, seventeen, probably even ninety nine twenty, and so 53 00:02:34,919 --> 00:02:38,320 Speaker 3: in the beginning, it kind of hurts you to the 54 00:02:38,360 --> 00:02:40,799 Speaker 3: point where I think people don't think you're very serious 55 00:02:40,800 --> 00:02:42,919 Speaker 3: about being a producer, think that you've got it made, 56 00:02:43,080 --> 00:02:46,160 Speaker 3: or you know, it's pretty easy. So some point changed 57 00:02:46,160 --> 00:02:48,320 Speaker 3: my name very early on as a producer to a 58 00:02:48,919 --> 00:02:51,160 Speaker 3: to a producer. Ain't that nobody would know that it 59 00:02:51,280 --> 00:02:53,680 Speaker 3: was educating her So I could, you know, really just 60 00:02:53,960 --> 00:02:58,120 Speaker 3: make my music and get the jobs and get placements 61 00:02:58,160 --> 00:03:00,240 Speaker 3: based off the fact of who other music and who 62 00:03:00,320 --> 00:03:03,320 Speaker 3: my father was. Now, as you're older, as I'm older, 63 00:03:03,360 --> 00:03:06,359 Speaker 3: and I'm moving up the ladder of success in business, 64 00:03:07,080 --> 00:03:10,560 Speaker 3: you know, my father's name holds a lot of respects 65 00:03:10,600 --> 00:03:13,280 Speaker 3: in a lot of rooms in industries because of the 66 00:03:13,320 --> 00:03:15,639 Speaker 3: type of person that he was. And so I think 67 00:03:15,680 --> 00:03:17,840 Speaker 3: it helps you know when you when you I mean, 68 00:03:17,840 --> 00:03:20,040 Speaker 3: I'm able to meet people like Samuel L. Jackson or 69 00:03:20,080 --> 00:03:22,079 Speaker 3: Denzel Washington or people that are in business that knew 70 00:03:22,120 --> 00:03:23,920 Speaker 3: my father and say they have a lot of great 71 00:03:23,919 --> 00:03:26,240 Speaker 3: things to say about him, and so it helps, but 72 00:03:26,280 --> 00:03:28,760 Speaker 3: it takes a while to transition to first it hurts. 73 00:03:28,760 --> 00:03:30,560 Speaker 3: And I think that's the thing with that will happen 74 00:03:30,600 --> 00:03:33,720 Speaker 3: with any famous you know, a child of anybody's famous. 75 00:03:33,720 --> 00:03:35,240 Speaker 3: So the hurting the beginning going to hurt Brian in 76 00:03:35,280 --> 00:03:38,720 Speaker 3: the beginning because people think about basketball, you're not dad. 77 00:03:39,320 --> 00:03:41,680 Speaker 3: But down the line, ten fifteen years down the line, 78 00:03:42,280 --> 00:03:43,640 Speaker 3: it's going to help him a lot. It's going to 79 00:03:43,680 --> 00:03:44,520 Speaker 3: help him tremendously. 80 00:03:44,640 --> 00:03:44,840 Speaker 4: We know. 81 00:03:44,960 --> 00:03:48,040 Speaker 1: I love about the whole interview about you is that 82 00:03:48,240 --> 00:03:52,400 Speaker 1: you you've embraced the entrepreneur side of this industry, as 83 00:03:52,520 --> 00:03:54,560 Speaker 1: is your dad because of the fact that you have 84 00:03:54,600 --> 00:03:58,560 Speaker 1: a catalog and a brand that he understood and valued 85 00:03:58,680 --> 00:04:01,320 Speaker 1: in his talent. You know, I always tell everybody my 86 00:04:01,720 --> 00:04:04,080 Speaker 1: favorite all time Isaac hay movie is Truck Turner. That 87 00:04:04,120 --> 00:04:07,480 Speaker 1: was That was my movie, Isaac truck Turner. Boy. I 88 00:04:07,520 --> 00:04:10,040 Speaker 1: can start reciting lines even though heroes in that boar 89 00:04:10,200 --> 00:04:13,240 Speaker 1: that was my movie. Because these these are brands that 90 00:04:13,920 --> 00:04:18,680 Speaker 1: live with people there's music. You know, the soundtrack Chap 91 00:04:18,920 --> 00:04:21,680 Speaker 1: is a classic. It's one of the all time great 92 00:04:22,279 --> 00:04:25,440 Speaker 1: music pieces that ever been distributed. But what we don't 93 00:04:25,480 --> 00:04:28,640 Speaker 1: realize was the music that your father produced, the music 94 00:04:28,640 --> 00:04:30,600 Speaker 1: he wrote. Tell us about that background. 95 00:04:31,560 --> 00:04:33,680 Speaker 3: Well, my father started out as a session musician at 96 00:04:33,680 --> 00:04:40,240 Speaker 3: Stax Records on oldist writing songs, you know, you know, 97 00:04:40,440 --> 00:04:42,599 Speaker 3: stuff like that, like arranging and doing stuff like that 98 00:04:42,800 --> 00:04:45,599 Speaker 3: him and David Porter made this this partnership, became a 99 00:04:45,960 --> 00:04:49,240 Speaker 3: songwriting producing team in Stax, writing hundreds of songs, songs 100 00:04:49,279 --> 00:04:53,200 Speaker 3: like doing Something's Wrong with My Baby and soul Man 101 00:04:53,279 --> 00:04:55,560 Speaker 3: and fold Them I'm coming from like nineteen sixty three 102 00:04:55,600 --> 00:04:59,440 Speaker 3: to nineteen sixty nine, so six years they wrote just 103 00:04:59,520 --> 00:05:03,039 Speaker 3: so many that were just amazing. And so that's that 104 00:05:03,080 --> 00:05:07,279 Speaker 3: really transitioned him becoming a solo artist in nineteen sixty nine. 105 00:05:07,960 --> 00:05:10,800 Speaker 1: Wow, you know that that whole because that's really what 106 00:05:10,920 --> 00:05:13,480 Speaker 1: we start talking about getting paid. You know, you have 107 00:05:13,600 --> 00:05:16,159 Speaker 1: you have an artist who performs the song. Then you 108 00:05:16,160 --> 00:05:19,839 Speaker 1: have the breakdown that whole strategy. Yeah, I heard the 109 00:05:19,839 --> 00:05:23,040 Speaker 1: word licensing, I hear the word publishing, and I hear 110 00:05:23,120 --> 00:05:26,880 Speaker 1: performing artists. The performing artist is the person that is 111 00:05:27,000 --> 00:05:30,240 Speaker 1: really only gets paid for performing. It's the I think 112 00:05:30,279 --> 00:05:33,479 Speaker 1: the licensing and the publishers where the money really it 113 00:05:33,560 --> 00:05:37,520 Speaker 1: becomes residuals and you can get paid on an ongoing basis. Correct. 114 00:05:37,560 --> 00:05:39,480 Speaker 1: Can you explain to my audience how that works. 115 00:05:40,160 --> 00:05:43,760 Speaker 3: Yeah, So a copyright has two sides, as a master 116 00:05:44,279 --> 00:05:46,520 Speaker 3: and as a publishing. The master's a sound recording. So 117 00:05:46,560 --> 00:05:49,280 Speaker 3: whatever the song eventually is, it's laid out on two 118 00:05:49,360 --> 00:05:53,760 Speaker 3: tracks or two tracks, or it's laid out on you know, 119 00:05:54,000 --> 00:05:57,000 Speaker 3: a stream or whatever. The record company typically owns that 120 00:05:57,040 --> 00:06:00,520 Speaker 3: and then the publishing is owned by the tworiters, the 121 00:06:00,640 --> 00:06:03,200 Speaker 3: or the one writer whoever wrote the song. So typically 122 00:06:03,920 --> 00:06:05,800 Speaker 3: few people that do that. And then what happens is 123 00:06:05,839 --> 00:06:08,719 Speaker 3: publishing deals are done. So when the publisher is done, 124 00:06:09,120 --> 00:06:14,320 Speaker 3: they're they're they're that that I signed to another individual 125 00:06:14,680 --> 00:06:17,520 Speaker 3: who takes that and then exploits that copyright on behalf 126 00:06:17,560 --> 00:06:20,400 Speaker 3: of the songwriter all will control to be able to 127 00:06:20,400 --> 00:06:24,000 Speaker 3: do the things that they do. Right. That that part 128 00:06:24,080 --> 00:06:26,839 Speaker 3: is a little difficult to kind of understand and important 129 00:06:26,880 --> 00:06:30,000 Speaker 3: because that right there is really the main you know, 130 00:06:30,040 --> 00:06:31,480 Speaker 3: where the money is. And so a lot of times 131 00:06:31,480 --> 00:06:33,400 Speaker 3: people assigned their rights and that's something that my dad 132 00:06:33,400 --> 00:06:35,400 Speaker 3: did as a songwriter early on, and so once he 133 00:06:35,440 --> 00:06:38,000 Speaker 3: did that, he would have access or get control of 134 00:06:38,000 --> 00:06:40,279 Speaker 3: that music for another fifty six years. 135 00:06:40,440 --> 00:06:43,640 Speaker 1: Right, you know it always it always amazes been man 136 00:06:43,680 --> 00:06:46,080 Speaker 1: because you know you're bad your dad and many others. 137 00:06:46,120 --> 00:06:48,960 Speaker 1: When you say great names like oldest writing and all 138 00:06:48,960 --> 00:06:52,760 Speaker 1: these individuals, rach Hall's, they had the I want to say, 139 00:06:52,760 --> 00:06:57,039 Speaker 1: the genius, the clear understanding that my work I want 140 00:06:57,080 --> 00:07:01,919 Speaker 1: to control that. Can you talk about the the uh 141 00:07:02,160 --> 00:07:05,919 Speaker 1: the courage to be able to walk in do it 142 00:07:06,000 --> 00:07:09,320 Speaker 1: racist times and be able to say I want ownership, 143 00:07:09,400 --> 00:07:10,400 Speaker 1: I want my rights. 144 00:07:12,160 --> 00:07:13,960 Speaker 3: Well, I mean a lot of Well here's the thing. 145 00:07:14,120 --> 00:07:16,600 Speaker 3: I think most of the most of the music industry 146 00:07:17,360 --> 00:07:20,440 Speaker 3: was you know, exploited to all all types of artists. 147 00:07:20,440 --> 00:07:24,040 Speaker 3: It was very rare the artists got to maintain control 148 00:07:24,040 --> 00:07:24,520 Speaker 3: of their topic. 149 00:07:24,600 --> 00:07:24,680 Speaker 4: Right. 150 00:07:24,880 --> 00:07:28,080 Speaker 3: I think you know that that part was was was 151 00:07:28,200 --> 00:07:31,520 Speaker 3: very very hard and difficult, and so a lot of 152 00:07:31,640 --> 00:07:35,239 Speaker 3: artists you know, got exploited and so that was tough. 153 00:07:35,360 --> 00:07:38,920 Speaker 3: I think people didn't know the business and understand up thing. 154 00:07:39,000 --> 00:07:41,840 Speaker 3: To anybody out there that wants to know what music 155 00:07:41,880 --> 00:07:43,880 Speaker 3: publishing is, I just say it's musical real estate. You 156 00:07:43,920 --> 00:07:46,120 Speaker 3: own it until you sell it, and it's yours in 157 00:07:46,200 --> 00:07:48,440 Speaker 3: perpetuity until you do some sort of deal with it. 158 00:07:48,760 --> 00:07:50,480 Speaker 3: And so as long as you hold onto that musical 159 00:07:50,520 --> 00:07:53,600 Speaker 3: real estate, you own it forever, as long as you know, 160 00:07:53,640 --> 00:07:55,640 Speaker 3: continue to make the right you know, deals and moves 161 00:07:55,680 --> 00:07:57,600 Speaker 3: to that kind of stuff. So they had to have 162 00:07:57,720 --> 00:07:59,600 Speaker 3: courage to to be able to kind of fight for 163 00:07:59,600 --> 00:08:02,800 Speaker 3: their music rights. Unfortunately though, a lot of artists, including 164 00:08:02,840 --> 00:08:05,720 Speaker 3: my father, never really got the chance to do that, 165 00:08:05,840 --> 00:08:08,920 Speaker 3: especially in the Stack situation because of the bankruptcy and 166 00:08:08,920 --> 00:08:10,520 Speaker 3: all things that happen over at Stax Records. 167 00:08:10,680 --> 00:08:14,160 Speaker 1: Right right right, Because now I know I've done a 168 00:08:14,200 --> 00:08:16,720 Speaker 1: lot of concerts Isaac, and when I do a concert 169 00:08:16,800 --> 00:08:20,320 Speaker 1: or music concert and I use the music to bring 170 00:08:20,360 --> 00:08:23,360 Speaker 1: a comic out, amuse the music to play, I gotta 171 00:08:23,360 --> 00:08:27,720 Speaker 1: pay fees for that. That's part of the publishing or 172 00:08:27,800 --> 00:08:31,720 Speaker 1: licensing for because I'm in a paid venue. That's I 173 00:08:31,720 --> 00:08:33,640 Speaker 1: have to pay those fees to play the music. Is 174 00:08:33,679 --> 00:08:35,000 Speaker 1: that That's how it works. Correct. 175 00:08:35,800 --> 00:08:38,280 Speaker 3: Every venue, So think about this. Every venue, so it's 176 00:08:38,320 --> 00:08:41,520 Speaker 3: a stadium, a nightclub, or restaurant, they do a deal 177 00:08:41,640 --> 00:08:44,240 Speaker 3: with p r os that allow them to play as 178 00:08:44,320 --> 00:08:47,120 Speaker 3: much music as they can based on the capacity of 179 00:08:47,160 --> 00:08:52,720 Speaker 3: the venue and then an estimated you right, yeah, over 180 00:08:52,760 --> 00:08:54,480 Speaker 3: like an annual amount of time. So it could be 181 00:08:54,480 --> 00:08:56,720 Speaker 3: if it's a large theater, like you know, a big arena, 182 00:08:56,960 --> 00:08:58,760 Speaker 3: that's one price. If there's a restaurant or a nightcup, 183 00:08:58,760 --> 00:09:00,720 Speaker 3: it's another price. And then that's that money goes to 184 00:09:00,760 --> 00:09:04,400 Speaker 3: pay the writers. And so yeah, most you know, anytime 185 00:09:04,400 --> 00:09:07,360 Speaker 3: you hear music played in and arenas and stuff like that, 186 00:09:07,360 --> 00:09:08,679 Speaker 3: those deals have been done. 187 00:09:09,000 --> 00:09:11,880 Speaker 1: You know, I'm gonna transition now because of the fact 188 00:09:11,880 --> 00:09:14,800 Speaker 1: that I just want to set the background for everybody 189 00:09:15,080 --> 00:09:17,560 Speaker 1: of who Isaac Hayes the third is. You know, he's 190 00:09:17,559 --> 00:09:21,160 Speaker 1: an entrepreneur and now used to work visionary in your opening. 191 00:09:21,240 --> 00:09:24,439 Speaker 1: Because I'll be honest with you. When social media came out, 192 00:09:24,480 --> 00:09:26,719 Speaker 1: I remember I was still managing Steve Harvey at the time. 193 00:09:26,760 --> 00:09:30,560 Speaker 1: We had this amazing fan club list about seven hundred 194 00:09:30,600 --> 00:09:34,160 Speaker 1: and fifty thousand fan club members. So and I didn't 195 00:09:34,200 --> 00:09:38,719 Speaker 1: really appreciate understanding the value of social media. Even though 196 00:09:38,720 --> 00:09:42,559 Speaker 1: I would look at television, especially news CNN at the time, 197 00:09:42,800 --> 00:09:45,880 Speaker 1: I would always see the Twitter logo, just Twitter logo, 198 00:09:46,040 --> 00:09:49,520 Speaker 1: Facebook or whatever people have already promoted followed me follow me, 199 00:09:49,559 --> 00:09:52,760 Speaker 1: and I thought that was amazing. They're not paying for this, 200 00:09:53,360 --> 00:09:57,920 Speaker 1: but they encourage people. They saw the power of social media. 201 00:09:58,160 --> 00:10:02,240 Speaker 1: When did you start really value between the power of 202 00:10:02,280 --> 00:10:03,600 Speaker 1: social media, Isaac? 203 00:10:05,280 --> 00:10:08,840 Speaker 3: I would probably say two thousand, like eight or nine, 204 00:10:09,559 --> 00:10:12,760 Speaker 3: because because really social media started changing the way that 205 00:10:12,840 --> 00:10:15,280 Speaker 3: we communicate and it really gave people an opportunity to 206 00:10:15,320 --> 00:10:18,080 Speaker 3: reach large amounts of people in real time. Even though 207 00:10:18,080 --> 00:10:22,000 Speaker 3: this is before like you know, cell phones became smartphones 208 00:10:22,559 --> 00:10:24,680 Speaker 3: and transition to that. But I was I was a 209 00:10:24,720 --> 00:10:26,640 Speaker 3: MySpace guy, I was a Facebook guy, I was a 210 00:10:26,640 --> 00:10:29,040 Speaker 3: Twitter guy. These are all things that were on desktop computers. 211 00:10:29,040 --> 00:10:32,240 Speaker 3: And then when Instagram came out, that's when everything changed 212 00:10:32,240 --> 00:10:34,720 Speaker 3: in my opinion, because it was the first mobile, first 213 00:10:34,760 --> 00:10:39,480 Speaker 3: device that was image based on you know, on smartphones, 214 00:10:39,520 --> 00:10:41,959 Speaker 3: and that kind of opened the door that I felt 215 00:10:41,960 --> 00:10:45,439 Speaker 3: like it changed the way that people distributed and disseminated 216 00:10:45,440 --> 00:10:48,040 Speaker 3: content and actually consumed content. Is now the content comes 217 00:10:48,040 --> 00:10:50,160 Speaker 3: directly to your phone. You're not watching a television, You're 218 00:10:50,200 --> 00:10:52,719 Speaker 3: not running to your laptop right this content. 219 00:10:53,400 --> 00:10:57,120 Speaker 1: Okay, I understand what you're saying right now, because that's 220 00:10:57,160 --> 00:10:59,960 Speaker 1: why the industry, the social media industry, really is a 221 00:11:00,120 --> 00:11:03,240 Speaker 1: mobile industry correctizing. 222 00:11:03,320 --> 00:11:05,720 Speaker 3: So it's changed over the last twenty years. Right, if 223 00:11:05,720 --> 00:11:07,760 Speaker 3: we go back to like Facebook came out in two 224 00:11:07,760 --> 00:11:10,120 Speaker 3: thousand and four. Okay, you first came there was people 225 00:11:10,160 --> 00:11:12,680 Speaker 3: writing on your wall. You know, it was more comments 226 00:11:12,760 --> 00:11:16,400 Speaker 3: and images, right, it was comments and images and comments. 227 00:11:16,440 --> 00:11:18,640 Speaker 3: Right when you get to the mobile era and we 228 00:11:18,720 --> 00:11:22,280 Speaker 3: put video. Now that video got added to social media. 229 00:11:22,360 --> 00:11:25,000 Speaker 3: Every single person on social media is a television network 230 00:11:25,000 --> 00:11:27,600 Speaker 3: now it's TV. Now. You scroll your feed like you're 231 00:11:27,600 --> 00:11:30,880 Speaker 3: watching channels. You're watching these small one minute, two minute, 232 00:11:30,920 --> 00:11:34,120 Speaker 3: five minute clips on social media that can really entertain 233 00:11:34,200 --> 00:11:37,319 Speaker 3: you just as much as watching television. And what's remarkable 234 00:11:37,320 --> 00:11:40,200 Speaker 3: about that is we're finding out that people will sacrifice 235 00:11:40,640 --> 00:11:43,680 Speaker 3: a large screen for the ability to move with their screen. 236 00:11:44,040 --> 00:11:46,199 Speaker 3: So rather have a big eighty five minutes TV in 237 00:11:46,240 --> 00:11:49,000 Speaker 3: your house and watch the game, you would sacrifice that 238 00:11:49,040 --> 00:11:51,080 Speaker 3: to be able to watch the game on the train, 239 00:11:51,320 --> 00:11:54,240 Speaker 3: on the plane at work. Oh you are. And so 240 00:11:54,320 --> 00:11:56,880 Speaker 3: that's where it became. Now social media is now an 241 00:11:57,040 --> 00:11:59,520 Speaker 3: entertainment vehicle. It is the new form of entertainment. It 242 00:11:59,559 --> 00:12:00,880 Speaker 3: is the new televisions. 243 00:12:01,320 --> 00:12:03,920 Speaker 1: Never to ask you this, I'm gonna call you an expert. 244 00:12:03,960 --> 00:12:07,080 Speaker 1: Now because you everything comes out of your mouth. Because 245 00:12:07,120 --> 00:12:08,800 Speaker 1: it was two thousand and eight, two thousand and nine 246 00:12:09,120 --> 00:12:12,320 Speaker 1: where I was denouncing that, you know, we're gonna stick 247 00:12:12,360 --> 00:12:15,800 Speaker 1: with this, this whole process, and then about twenty ten, 248 00:12:16,640 --> 00:12:19,560 Speaker 1: I want, you know, some Steve Harvey, we need to 249 00:12:19,760 --> 00:12:22,640 Speaker 1: start getting into this social media because you know, at 250 00:12:22,640 --> 00:12:25,040 Speaker 1: that point, we started seeing our competition. When I say 251 00:12:25,080 --> 00:12:29,600 Speaker 1: our competition, our other fellow comedians having four hundred thousand followers, 252 00:12:29,640 --> 00:12:33,640 Speaker 1: seven hundred thousand followers, and because really I started realizing that, 253 00:12:33,720 --> 00:12:37,040 Speaker 1: you know, people are starting to because if you had 254 00:12:37,080 --> 00:12:41,160 Speaker 1: a fan club, people couldn't see your fan club members, 255 00:12:41,440 --> 00:12:44,400 Speaker 1: but when you had social media, they could see the engagement. 256 00:12:44,520 --> 00:12:48,120 Speaker 1: That was the difference maker which sold me on social media. 257 00:12:48,200 --> 00:12:53,200 Speaker 1: Realizing that you can now publicly display your success story 258 00:12:53,720 --> 00:12:57,600 Speaker 1: on social media where the fan club email base you 259 00:12:57,600 --> 00:13:00,480 Speaker 1: couldn't do that. Is that really the big change for you? 260 00:13:00,600 --> 00:13:02,439 Speaker 1: Or you saw that beyond. 261 00:13:02,120 --> 00:13:07,640 Speaker 3: That, Well, what I saw was the fact that that 262 00:13:07,640 --> 00:13:11,200 Speaker 3: that black culture was really elevating social media. The first 263 00:13:11,200 --> 00:13:14,080 Speaker 3: thing I noticed is that black culture elevates all the 264 00:13:14,080 --> 00:13:19,160 Speaker 3: infrastructures of entertainment, but we don't own them. Basically, like 265 00:13:19,360 --> 00:13:23,040 Speaker 3: if you take the NFL, the NBA, the music industry, 266 00:13:23,920 --> 00:13:26,640 Speaker 3: social media. These are primarily industries that are owned by 267 00:13:26,679 --> 00:13:31,400 Speaker 3: small groups of white people that exploit young people and 268 00:13:31,520 --> 00:13:36,880 Speaker 3: black culture for billions and billions of dollars, right, and 269 00:13:36,920 --> 00:13:39,719 Speaker 3: so we don't have any ownership of those things. And 270 00:13:40,120 --> 00:13:42,040 Speaker 3: that's when I started to notice that there was a 271 00:13:42,120 --> 00:13:45,640 Speaker 3: deficit in that, because you know, these companies winund up 272 00:13:45,679 --> 00:13:48,640 Speaker 3: being worth billions and trillions of dollars. But at the 273 00:13:48,720 --> 00:13:51,360 Speaker 3: end of the day, who really benefits from that but 274 00:13:51,440 --> 00:13:53,640 Speaker 3: the small group of people that were allowed to invest 275 00:13:53,640 --> 00:13:57,360 Speaker 3: in these companies at an early stage before anybody. And 276 00:13:57,400 --> 00:13:59,640 Speaker 3: then the black culture in the black community comes on 277 00:13:59,679 --> 00:14:01,920 Speaker 3: there and makes it the most popular thing on planet Earth. 278 00:14:02,200 --> 00:14:04,560 Speaker 3: And now these pool of the investors are in the background, 279 00:14:04,840 --> 00:14:07,000 Speaker 3: and they're the ones that are creating generational wealth for 280 00:14:07,040 --> 00:14:10,400 Speaker 3: their families off of the intellectual property of young people 281 00:14:10,679 --> 00:14:11,480 Speaker 3: in black culture. 282 00:14:12,080 --> 00:14:15,240 Speaker 4: Please don't go anywhere. We'll be right back with more 283 00:14:15,320 --> 00:14:28,720 Speaker 4: Money Making Conversations Masterclass. Welcome back to the Money Making 284 00:14:28,800 --> 00:14:34,520 Speaker 4: Conversations Masterclass hosted by Rashaan McDonald. Money Making Conversations Masterclass 285 00:14:34,560 --> 00:14:39,160 Speaker 4: continues online at Moneymakingconversations dot com and follow money Making 286 00:14:39,200 --> 00:14:44,120 Speaker 4: conversations masterclass on Facebook, Twitter, and Instagram. 287 00:14:44,200 --> 00:14:48,120 Speaker 1: Wow. Now when you talk about all these things, fan base, 288 00:14:49,040 --> 00:14:51,640 Speaker 1: you know, offer start on this side of that. What 289 00:14:51,840 --> 00:14:53,160 Speaker 1: exactly is fan base? 290 00:14:54,800 --> 00:14:57,360 Speaker 3: So fan base is a social media platform that is 291 00:14:57,640 --> 00:15:02,160 Speaker 3: just like Instagram, TikTok, the current social apps, with a 292 00:15:02,240 --> 00:15:06,720 Speaker 3: couple of additions. One do not run ads. And what's 293 00:15:06,720 --> 00:15:09,840 Speaker 3: important about not running advertising is not I'm not beholden 294 00:15:09,920 --> 00:15:15,360 Speaker 3: to publicly traded shareholders or advertisers who can sometimes suppress 295 00:15:16,080 --> 00:15:19,480 Speaker 3: and shadow band and censor people's content based on the 296 00:15:19,480 --> 00:15:21,840 Speaker 3: fact of who the platforms they spend money with. I 297 00:15:21,880 --> 00:15:25,560 Speaker 3: didn't want to do that because number one, it creates 298 00:15:26,040 --> 00:15:28,160 Speaker 3: a limitation on the amount of people that can see 299 00:15:28,200 --> 00:15:31,280 Speaker 3: your content. So I asked this question a lot to people. 300 00:15:31,360 --> 00:15:34,560 Speaker 3: It's a rhetorical question, but basically, why would Instagram let 301 00:15:34,600 --> 00:15:37,520 Speaker 3: you post a video or if you're talking about Steve Harvey, 302 00:15:37,520 --> 00:15:39,600 Speaker 3: why would Instagram let Steve harv or anybody post a 303 00:15:39,640 --> 00:15:41,800 Speaker 3: video or let you let it reach ten million people 304 00:15:41,800 --> 00:15:44,960 Speaker 3: for free? Where they're going to literally turn around and 305 00:15:45,080 --> 00:15:48,400 Speaker 3: charge Domino's Pizza money to reach ten million people with 306 00:15:48,520 --> 00:15:53,080 Speaker 3: they're advertising right going to do that because if Steve 307 00:15:53,120 --> 00:15:56,120 Speaker 3: Harvey or any person with millions of followers could reach 308 00:15:56,160 --> 00:15:59,280 Speaker 3: those people for free. The advertisers would come directly to 309 00:15:59,360 --> 00:16:02,200 Speaker 3: the person with the following and pay them to those 310 00:16:02,280 --> 00:16:05,840 Speaker 3: ads on their page and never spend money on Instagram 311 00:16:05,880 --> 00:16:08,280 Speaker 3: or Facebook. So for that reason, they suppressure content. So 312 00:16:08,280 --> 00:16:12,360 Speaker 3: I don't care how many followers Steve Harvey, Beyonce, to Rock, Whoever, Party, 313 00:16:12,400 --> 00:16:15,920 Speaker 3: b Drake, anybody has on social media, They'll never reach 314 00:16:15,960 --> 00:16:19,600 Speaker 3: their full following because the advertisers have to make money 315 00:16:19,840 --> 00:16:22,800 Speaker 3: off that reach. So at Fanbase, I wanted to say, look, 316 00:16:22,800 --> 00:16:24,800 Speaker 3: I don't care how many followers you have more social media, 317 00:16:24,800 --> 00:16:26,960 Speaker 3: I don't care how you get If you have one 318 00:16:27,000 --> 00:16:28,840 Speaker 3: hundred million people they follow you on fan Base, we're 319 00:16:28,840 --> 00:16:30,840 Speaker 3: sending your content to ae hundred million people. That's the 320 00:16:31,200 --> 00:16:34,520 Speaker 3: first and foremost And secondly, there's a monetization component to 321 00:16:34,560 --> 00:16:37,360 Speaker 3: the platform that allows people to have subscribers. That's the 322 00:16:37,360 --> 00:16:38,920 Speaker 3: first thing that really came to my mind. I said, 323 00:16:38,920 --> 00:16:42,840 Speaker 3: we need a social media platform where people can additionally 324 00:16:42,880 --> 00:16:46,560 Speaker 3: subscribe to the same person that they follow, like Netflix 325 00:16:46,600 --> 00:16:48,920 Speaker 3: for extra content. So I want to be able to 326 00:16:48,920 --> 00:16:51,760 Speaker 3: subscribe to the same person I follow if I follow 327 00:16:52,000 --> 00:16:57,440 Speaker 3: you or Steve Harvey, or Lebron James or anybody like that. 328 00:16:57,520 --> 00:17:00,520 Speaker 3: I can also subscribe to that same person monthly for 329 00:17:00,640 --> 00:17:03,320 Speaker 3: additional content that they won't share anywhere else. And that 330 00:17:03,400 --> 00:17:04,920 Speaker 3: was the birth of fan Base, and that really set 331 00:17:05,000 --> 00:17:07,879 Speaker 3: us apart back in twenty eighteen when I started to 332 00:17:07,880 --> 00:17:10,440 Speaker 3: build the company, because no other platform did that. I'm 333 00:17:10,440 --> 00:17:14,240 Speaker 3: the first social media platform and founder to create a 334 00:17:14,280 --> 00:17:17,840 Speaker 3: mechanism where people could subscribe to people using InApp purchase. 335 00:17:17,960 --> 00:17:23,680 Speaker 1: Now you create in the social media entrepreneurs basically entrepreneurs. 336 00:17:23,200 --> 00:17:28,640 Speaker 3: And well, it existed other play it existed through credit cards, 337 00:17:28,880 --> 00:17:31,040 Speaker 3: So platforms that allowed you to subscribe to people through 338 00:17:31,080 --> 00:17:34,800 Speaker 3: current credit cards that existed, not mobile devices, so not 339 00:17:34,840 --> 00:17:38,879 Speaker 3: being able to iPhone or you're android to subscribe directly 340 00:17:38,880 --> 00:17:41,159 Speaker 3: to a person by just using a fingerprint or a 341 00:17:41,160 --> 00:17:43,320 Speaker 3: face scan. And that changes the speed in which you 342 00:17:43,359 --> 00:17:46,760 Speaker 3: can monetize and make money as a content creator. Anybody can. 343 00:17:46,880 --> 00:17:49,040 Speaker 3: So that changed the game and that's really what we brought. 344 00:17:49,320 --> 00:17:51,120 Speaker 3: No other platform did that before fan Base. 345 00:17:51,200 --> 00:17:53,040 Speaker 1: Cool, We're gonna go to break come right back with 346 00:17:53,200 --> 00:17:56,280 Speaker 1: mister Isaac Hayes. The third fan Base a game changer, 347 00:17:56,640 --> 00:17:59,080 Speaker 1: visionary social media for ever. That's what he said you 348 00:17:59,119 --> 00:18:01,600 Speaker 1: won't change it forever, and he's doing just that. I'm 349 00:18:01,600 --> 00:18:04,320 Speaker 1: speaking to Isaac Hayes, Isaac Hayes the third. He's the 350 00:18:04,320 --> 00:18:08,520 Speaker 1: president CEO of Isaac Hayes Enterprises, which manages the name 351 00:18:08,840 --> 00:18:12,440 Speaker 1: Image Likeness, Brand Masters and publishing catalog of his soul 352 00:18:12,640 --> 00:18:16,080 Speaker 1: Icon father, the late Isaac Hayes. We're talking about fan base, 353 00:18:16,119 --> 00:18:19,239 Speaker 1: we're talking about social media, we're talking about technology, and 354 00:18:20,520 --> 00:18:24,639 Speaker 1: Isaac when you, you know, would try to wrap this around 355 00:18:24,680 --> 00:18:28,760 Speaker 1: my head an idea that you have about social media 356 00:18:28,800 --> 00:18:33,040 Speaker 1: because it seems so big. But how were you able 357 00:18:33,119 --> 00:18:36,520 Speaker 1: to be not intimidated by the process of developing the 358 00:18:36,600 --> 00:18:39,800 Speaker 1: idea that was unique? That works? 359 00:18:41,080 --> 00:18:44,159 Speaker 3: Oh, that was simple. And I had a conversation with 360 00:18:44,200 --> 00:18:46,439 Speaker 3: a VC about this that I When I had this 361 00:18:46,480 --> 00:18:50,600 Speaker 3: conversation with the VC, they asked me kind of something similar, 362 00:18:50,640 --> 00:18:52,119 Speaker 3: but they said, why would you want to build something 363 00:18:52,119 --> 00:18:55,320 Speaker 3: that is in competition with Facebook and Mark Zuckerberg Instagram. 364 00:18:55,320 --> 00:18:58,760 Speaker 3: He's a giant, He's this big giant, you know, mega 365 00:18:59,240 --> 00:19:02,200 Speaker 3: tech giant. Well, one reason is because I can build 366 00:19:02,240 --> 00:19:04,680 Speaker 3: anything that he can build, but he can't build. Black 367 00:19:04,680 --> 00:19:09,159 Speaker 3: people in black culture and I speak very specifically in 368 00:19:09,200 --> 00:19:11,720 Speaker 3: the space of technology because technology is a vast industry. 369 00:19:11,920 --> 00:19:13,919 Speaker 3: But when it comes to technology and social media, I 370 00:19:13,960 --> 00:19:15,760 Speaker 3: know my stuff. I'm gonna stand my lane. That's why 371 00:19:15,760 --> 00:19:18,360 Speaker 3: I know. And I know that black culture and young 372 00:19:18,359 --> 00:19:21,520 Speaker 3: people power social media. And so the ability in which 373 00:19:21,640 --> 00:19:23,639 Speaker 3: fan Base moves is at the speed of culture. Because 374 00:19:23,720 --> 00:19:26,560 Speaker 3: I'm black and I'm around black culture, these other platforms 375 00:19:26,560 --> 00:19:28,639 Speaker 3: have to move at the speed of mitaking copy or 376 00:19:28,640 --> 00:19:32,320 Speaker 3: mimic black culture. So that gives us an advantage every time. 377 00:19:32,680 --> 00:19:34,600 Speaker 3: So any ideas that we come out with, we're going 378 00:19:34,640 --> 00:19:37,480 Speaker 3: to come out with the ideas first. There's multiple things 379 00:19:37,480 --> 00:19:39,119 Speaker 3: that fan Base has done. Like I said, there was 380 00:19:39,240 --> 00:19:41,680 Speaker 3: no such thing as in a purchase subscriptions before fan Base. 381 00:19:41,800 --> 00:19:44,159 Speaker 3: Check it. Before twenty nineteen, it wasn't that now. If 382 00:19:44,160 --> 00:19:47,320 Speaker 3: you look, Twitter has it, Facebook has it, Instagram has it, 383 00:19:47,400 --> 00:19:49,920 Speaker 3: TikTok has it, Snapchat has it. All these platforms allow 384 00:19:49,960 --> 00:19:52,399 Speaker 3: you to subscribe from your mobile device. It didn't exist 385 00:19:52,520 --> 00:19:55,200 Speaker 3: until we created that, and so that's my point. There 386 00:19:55,200 --> 00:19:57,159 Speaker 3: was no such thing as a goal verification badge or 387 00:19:57,200 --> 00:19:59,600 Speaker 3: any social media platform. We had that in twenty nineteen. 388 00:19:59,600 --> 00:20:01,760 Speaker 3: If you go to Twitter right now, every business has 389 00:20:01,800 --> 00:20:05,280 Speaker 3: a goal verification badge. So they're mimicking what we do. 390 00:20:05,359 --> 00:20:10,320 Speaker 3: So the only separator between us and them is capital, 391 00:20:10,520 --> 00:20:12,080 Speaker 3: which is one of the reasons why, Like I said, 392 00:20:12,280 --> 00:20:16,480 Speaker 3: you know, we're raising capital a unique way through equity crowdfunding, 393 00:20:16,520 --> 00:20:18,359 Speaker 3: which gives us the ability to build our company but 394 00:20:18,440 --> 00:20:21,359 Speaker 3: not give up crazy amounts of equity and not what 395 00:20:21,359 --> 00:20:23,240 Speaker 3: we want to do as a business. So that's that's 396 00:20:23,240 --> 00:20:25,400 Speaker 3: why I'm confident, because I know what makes social media work. 397 00:20:25,400 --> 00:20:27,439 Speaker 3: It's technology, psychology, and black culture. 398 00:20:27,720 --> 00:20:30,000 Speaker 1: Now, when I was reading your bio, it says that 399 00:20:30,119 --> 00:20:35,600 Speaker 1: you use social media to elect our current mayor, Andre Dickens. 400 00:20:35,920 --> 00:20:40,119 Speaker 1: How did you know the floor is yours? You know, 401 00:20:40,320 --> 00:20:42,040 Speaker 1: because of the fact that I just try to tell 402 00:20:42,080 --> 00:20:45,359 Speaker 1: people that social media is beyond just vacation photos and 403 00:20:45,520 --> 00:20:48,960 Speaker 1: pictures of food on your plate. It is a tool that, 404 00:20:49,200 --> 00:20:52,440 Speaker 1: especially in the entrepreneurial space, we need to understand our 405 00:20:52,520 --> 00:20:54,639 Speaker 1: brand and be able to communicate with the people and 406 00:20:54,720 --> 00:20:57,679 Speaker 1: generate revenue on that. You are a visionary from a 407 00:20:57,720 --> 00:21:03,680 Speaker 1: social media standpoint. You start launching now an elect I'm 408 00:21:03,680 --> 00:21:06,639 Speaker 1: mayor right now. You've played a major role in getting 409 00:21:06,680 --> 00:21:10,000 Speaker 1: him elected. How did that process come to you to 410 00:21:10,000 --> 00:21:12,320 Speaker 1: say I can do this well? 411 00:21:12,440 --> 00:21:14,840 Speaker 3: Number One, I love Atlanta, and I understand that black 412 00:21:14,880 --> 00:21:18,040 Speaker 3: political power is the main reason that there's so much 413 00:21:18,080 --> 00:21:21,480 Speaker 3: black success. That Atlanta's not a mistake. It is an 414 00:21:21,560 --> 00:21:25,960 Speaker 3: intentional community of people that were built, that built the 415 00:21:26,000 --> 00:21:29,760 Speaker 3: community of political power, that offered opportunity for black people 416 00:21:29,800 --> 00:21:31,879 Speaker 3: to build business, and I want to make sure that's maintained. 417 00:21:32,359 --> 00:21:34,480 Speaker 3: What's also more important is that more and more people 418 00:21:34,520 --> 00:21:37,400 Speaker 3: are on their mobile devices every day, and those messages 419 00:21:37,480 --> 00:21:40,719 Speaker 3: spread through virality. They spread through social media platforms like Twitter, 420 00:21:41,000 --> 00:21:43,800 Speaker 3: like Facebook, and like Instagram. And so when you're able 421 00:21:43,800 --> 00:21:47,920 Speaker 3: to connect with users at mass and create movements via 422 00:21:47,960 --> 00:21:51,040 Speaker 3: social media, that can be very impactful, especially political campaigns. 423 00:21:51,160 --> 00:21:53,760 Speaker 3: So if there's a message that needs to be put 424 00:21:53,760 --> 00:21:56,560 Speaker 3: out there, it's not necessarily always going to be heard 425 00:21:56,960 --> 00:22:00,320 Speaker 3: by broadcast media, which is the number one for media, 426 00:22:00,320 --> 00:22:03,040 Speaker 3: which we've known for you know, probably one hundred years 427 00:22:03,160 --> 00:22:05,960 Speaker 3: or so. Right, it's radio and television, right, and then 428 00:22:06,000 --> 00:22:08,399 Speaker 3: we moved to the narrowcast, which is kind of like 429 00:22:08,440 --> 00:22:11,879 Speaker 3: these smaller sub networks, which is on which are the 430 00:22:11,960 --> 00:22:15,600 Speaker 3: apps like you know, Facebook and Instagram and stuff like that, 431 00:22:15,840 --> 00:22:18,040 Speaker 3: and so to be able to move messaging and content 432 00:22:18,040 --> 00:22:20,720 Speaker 3: around through those platforms to people right on their mobile devices. 433 00:22:20,840 --> 00:22:23,679 Speaker 3: It can create engagement and action very very quickly. 434 00:22:24,720 --> 00:22:28,600 Speaker 1: Wow, and and and the engagement you you were trying 435 00:22:28,640 --> 00:22:33,200 Speaker 1: to achieve was either registration or encouraging the vote. What 436 00:22:33,280 --> 00:22:36,920 Speaker 1: was what was the motivation with your social media campaign? 437 00:22:37,760 --> 00:22:40,840 Speaker 3: Well, it was definitely voting. I mean, you know, Atlanta 438 00:22:40,920 --> 00:22:43,879 Speaker 3: has about half a million or so residents in the 439 00:22:43,880 --> 00:22:46,320 Speaker 3: city of Atlanta proper. But when we when these elections 440 00:22:46,359 --> 00:22:48,639 Speaker 3: come up, we're only winning elections. I think even when 441 00:22:48,720 --> 00:22:51,040 Speaker 3: Keisha Lan's bottoms wan and I helped out with her campaign, 442 00:22:51,119 --> 00:22:53,480 Speaker 3: I think eight hundred and seventy three votes, So you 443 00:22:53,560 --> 00:22:57,119 Speaker 3: got understand how those margins are. So just to be 444 00:22:57,200 --> 00:23:00,800 Speaker 3: able to inform people the urgency of voting, social media 445 00:23:01,280 --> 00:23:03,760 Speaker 3: is extremely extremely important. And then depending on who it is. 446 00:23:03,840 --> 00:23:06,239 Speaker 3: I mean in that in that election with Andre, we 447 00:23:06,280 --> 00:23:09,959 Speaker 3: had Felicia Moore and so and and and again I 448 00:23:10,000 --> 00:23:13,040 Speaker 3: wasn't necessarily I was a fan of what Andre was doing, 449 00:23:13,040 --> 00:23:15,800 Speaker 3: but Felicia Morey just shown signs that she wasn't necessarily 450 00:23:16,440 --> 00:23:19,200 Speaker 3: going to be the best ally always for the black 451 00:23:19,200 --> 00:23:20,960 Speaker 3: community just by some of the things that she had 452 00:23:21,000 --> 00:23:24,560 Speaker 3: done in the process. Hey, so getting those messages out 453 00:23:24,600 --> 00:23:27,480 Speaker 3: of letting people know, like, look, this guy said something racist. 454 00:23:27,560 --> 00:23:29,800 Speaker 3: She apologized, and she took her apology down. I was like, 455 00:23:29,880 --> 00:23:32,159 Speaker 3: uh uh uh, that's a problem right there. So we 456 00:23:32,200 --> 00:23:33,760 Speaker 3: gotta we got to make sure that we know we 457 00:23:33,760 --> 00:23:36,320 Speaker 3: put Andre in office, and she was right there for 458 00:23:36,359 --> 00:23:38,000 Speaker 3: the job. And it's done, you know very well. 459 00:23:38,040 --> 00:23:40,640 Speaker 1: Oh yeah, he's been outstanding. As we close out. Man, 460 00:23:41,200 --> 00:23:44,480 Speaker 1: you conducted in an investor on which was star studied 461 00:23:44,560 --> 00:23:47,200 Speaker 1: with influences and celebrity. What was the purpose of that? 462 00:23:48,680 --> 00:23:51,639 Speaker 3: To raise money for fan base? So so I'm the 463 00:23:51,640 --> 00:23:54,639 Speaker 3: first black man's raised ten million dollars in RACI equity crowdfunding. 464 00:23:54,640 --> 00:23:57,520 Speaker 3: So basically that's the way, is that anybody that wants 465 00:23:57,560 --> 00:23:59,600 Speaker 3: to invest in fan base and actually own part of 466 00:23:59,640 --> 00:24:02,920 Speaker 3: the company me as a startup and own part investing. 467 00:24:03,080 --> 00:24:05,480 Speaker 3: So I did this on a platform called start Engine. 468 00:24:05,480 --> 00:24:07,320 Speaker 3: I've done it again. I've done it three times up 469 00:24:07,600 --> 00:24:09,840 Speaker 3: with ten million dollars raised in three rounds and I 470 00:24:09,960 --> 00:24:12,560 Speaker 3: just lost a seventeen million dollar regulation a crowdfund on 471 00:24:12,640 --> 00:24:14,840 Speaker 3: start Engine. We allow anybody that's listening and here's this 472 00:24:15,240 --> 00:24:17,399 Speaker 3: to actually have equity and fan base my investing. So 473 00:24:17,440 --> 00:24:19,960 Speaker 3: you can go to start engine dot com slash fan 474 00:24:20,000 --> 00:24:22,080 Speaker 3: Base and invest and own a part of the company. 475 00:24:22,320 --> 00:24:26,280 Speaker 3: It's so important because black founders don't get money. We 476 00:24:26,320 --> 00:24:28,720 Speaker 3: don't get funded from bcason banks, So I have to 477 00:24:28,760 --> 00:24:31,199 Speaker 3: turn to my community. And I understand that who's going 478 00:24:31,280 --> 00:24:33,800 Speaker 3: to benefit the most from a social media platform right 479 00:24:33,880 --> 00:24:36,639 Speaker 3: being owned by black people? Black people, because we make 480 00:24:36,640 --> 00:24:39,040 Speaker 3: the social media platform popular. So who better than to 481 00:24:39,040 --> 00:24:40,960 Speaker 3: give the opportunity to have equity in it then the 482 00:24:40,960 --> 00:24:43,600 Speaker 3: people that will make it successful. So that's the reason 483 00:24:43,640 --> 00:24:46,879 Speaker 3: why I launched this equity crowdfund. So again, anybody that's listening, 484 00:24:47,160 --> 00:24:49,560 Speaker 3: go to start engine dot com, slash fan Base, make 485 00:24:49,560 --> 00:24:51,879 Speaker 3: an account. The investment found was very successful. We almost 486 00:24:51,920 --> 00:24:55,240 Speaker 3: raised about seven hundred thousand dollars in ten days with 487 00:24:55,400 --> 00:24:59,399 Speaker 3: people like Bill I am Intended, Charlottage, the God ebro 488 00:24:59,720 --> 00:25:03,440 Speaker 3: Earn Your Leisure, Roland Martin, Milton Jones, of one hundred 489 00:25:03,440 --> 00:25:07,080 Speaker 3: Black Men of America, Bill Harper, all these people came 490 00:25:07,160 --> 00:25:10,640 Speaker 3: on and spoke so kindly Candy Burst about fan Base, 491 00:25:10,680 --> 00:25:12,879 Speaker 3: and I think that's extremely important because it shows the 492 00:25:12,920 --> 00:25:15,040 Speaker 3: beliefs and what we're doing. And there are no black 493 00:25:15,040 --> 00:25:17,919 Speaker 3: owned social media platforms. Google it, search it, research it. 494 00:25:18,240 --> 00:25:20,679 Speaker 3: I'm the only one that's really in this space doing this, 495 00:25:20,720 --> 00:25:24,200 Speaker 3: and so it's extremely important that we own infrastructures. Think 496 00:25:24,240 --> 00:25:27,080 Speaker 3: of how many things, right, think of how many things 497 00:25:26,680 --> 00:25:29,240 Speaker 3: that have existed that black people are invented, but we 498 00:25:29,240 --> 00:25:31,919 Speaker 3: don't own the infrastructure of Think about Djang and that 499 00:25:31,960 --> 00:25:34,800 Speaker 3: Grand Master Flash invented that, but he doesn't own techniques 500 00:25:34,880 --> 00:25:37,080 Speaker 3: or Serrauto. Think about the ice cream scoop and ice 501 00:25:37,119 --> 00:25:39,280 Speaker 3: cream itself was invented by a black man, but we 502 00:25:39,320 --> 00:25:41,359 Speaker 3: don't own briers, we don't own edies, we don't own 503 00:25:41,400 --> 00:25:45,000 Speaker 3: Ben and Jerry. Think about the alarm system was invented 504 00:25:45,000 --> 00:25:46,800 Speaker 3: by a black woman, right, But we're not brinks, we're 505 00:25:46,840 --> 00:25:51,040 Speaker 3: not adt. So my point is, if we're not owning infrastructures, 506 00:25:51,200 --> 00:25:54,320 Speaker 3: we're just going to be contributing to other people's wealth 507 00:25:54,840 --> 00:25:57,119 Speaker 3: in ways that don't ever benefit our community. So we 508 00:25:57,160 --> 00:25:59,199 Speaker 3: have to own the infrastructure first, and then we go 509 00:25:59,280 --> 00:26:02,080 Speaker 3: on the platform at our sauce and our sprinkle to it, 510 00:26:02,119 --> 00:26:04,680 Speaker 3: and then we create generational wealth. So again I tell everybody, 511 00:26:04,680 --> 00:26:07,520 Speaker 3: please invest in fan Base because this is a community movement. 512 00:26:07,520 --> 00:26:10,440 Speaker 3: There's over fifteen thousand investors that have equity. Like I said, 513 00:26:10,440 --> 00:26:12,720 Speaker 3: we raised about three million of this seventeen million dollars round. 514 00:26:12,720 --> 00:26:15,000 Speaker 3: Once we reach the end of this round, it's over with. 515 00:26:15,040 --> 00:26:17,399 Speaker 3: I always say twenty eight thousand or I'm sorry, twenty 516 00:26:17,400 --> 00:26:20,119 Speaker 3: five thousand people investing six hundred dollars gets us to 517 00:26:20,160 --> 00:26:22,200 Speaker 3: our goal. So I tell everybody be one of those 518 00:26:22,200 --> 00:26:24,760 Speaker 3: twenty five thousand people that investing in fan Base. So 519 00:26:24,800 --> 00:26:26,920 Speaker 3: when this company gets acquired and goes public, you're one 520 00:26:26,920 --> 00:26:28,800 Speaker 3: of those ones. Goes like. I was there and I 521 00:26:28,840 --> 00:26:31,520 Speaker 3: heard Isaac Cay speak about investing in fan Base, and 522 00:26:31,560 --> 00:26:34,080 Speaker 3: I didn't wait. I invested the minimum to invest three 523 00:26:34,119 --> 00:26:36,120 Speaker 3: hundred and ninety nine dollars. So I tell everybody, look, 524 00:26:36,280 --> 00:26:37,520 Speaker 3: we spend a lot of money on a lot of 525 00:26:37,520 --> 00:26:40,040 Speaker 3: different things, so three hundred ninety nine dollars can go 526 00:26:40,080 --> 00:26:41,680 Speaker 3: a long way invested in that. 527 00:26:42,520 --> 00:26:45,760 Speaker 1: I'm telling Isaac Casey third year, amazing brother. This will 528 00:26:45,800 --> 00:26:48,160 Speaker 1: not be the last time you speak to Rashaan McDonald. 529 00:26:48,280 --> 00:26:51,000 Speaker 1: It is a money making conversation. And thank you for 530 00:26:51,040 --> 00:26:54,320 Speaker 1: coming on my show. And I gotta connect with you man. 531 00:26:54,400 --> 00:26:56,480 Speaker 1: I'm gonna get your sell numbers so we can communicate 532 00:26:56,840 --> 00:26:59,639 Speaker 1: because I like your approach, I understand your value, and 533 00:26:59,640 --> 00:27:02,520 Speaker 1: I and branding expert and I like talking to people 534 00:27:02,560 --> 00:27:05,000 Speaker 1: who have a vision and my man, when I say this, 535 00:27:05,400 --> 00:27:07,440 Speaker 1: you are a visionary. Thank you for coming on Money 536 00:27:07,440 --> 00:27:08,960 Speaker 1: Making Conversation Masterclass. 537 00:27:09,600 --> 00:27:10,840 Speaker 3: Thank you appreciate. 538 00:27:11,119 --> 00:27:13,840 Speaker 1: This has been another addition of Money Making Conversation Masterclass 539 00:27:13,840 --> 00:27:16,720 Speaker 1: hosted by me Rashan McDonald. Thank you to our guests 540 00:27:16,800 --> 00:27:20,040 Speaker 1: on the show today and thank you our listening audience now. 541 00:27:20,080 --> 00:27:21,920 Speaker 1: If you want to listen to any episode I want 542 00:27:21,920 --> 00:27:25,520 Speaker 1: to be a guest on the show, visit Moneymakingconversation dot com. 543 00:27:25,680 --> 00:27:29,240 Speaker 1: Our social media handle is money Making Conversation. Join us 544 00:27:29,240 --> 00:27:32,199 Speaker 1: next week and remember to always lead with your gifts. 545 00:27:32,400 --> 00:27:35,600 Speaker 1: Keep winning. The American Dream is available to you, just 546 00:27:35,720 --> 00:27:39,520 Speaker 1: keep listening. This has been another edition of Money Making 547 00:27:39,560 --> 00:27:43,520 Speaker 1: Conversation Masterclass hosted by me Rashawn McDonald. Thank you to 548 00:27:43,560 --> 00:27:46,200 Speaker 1: our guests on the show today and thank you our 549 00:27:46,240 --> 00:27:48,280 Speaker 1: listening to audience. Now. If you want to listen to 550 00:27:48,359 --> 00:27:50,600 Speaker 1: any episode I want to be a guest on the show, 551 00:27:50,880 --> 00:27:54,840 Speaker 1: visit Moneymaking Conversations dot com. Our social media handle is 552 00:27:55,080 --> 00:27:58,240 Speaker 1: money Making Conversation. Join us next week and remember to 553 00:27:58,320 --> 00:28:00,560 Speaker 1: always leave with your gifts. Keep winning.