1 00:00:00,120 --> 00:00:05,080 Speaker 1: Happy Kwanza, Merry Christmas. At least now he died. Happy Holidays. 2 00:00:05,559 --> 00:00:08,760 Speaker 1: Enjoy this throwback episode of Black Tech, Green Money ovie 3 00:00:08,800 --> 00:00:18,040 Speaker 1: Holiday Season Afro Tech, San Francisco, California. Such a Rogers 4 00:00:18,079 --> 00:00:20,440 Speaker 1: who at the time is leading look Life and After 5 00:00:20,520 --> 00:00:23,400 Speaker 1: helps you shot the favorite styles and celebrities and influences. 6 00:00:23,560 --> 00:00:26,400 Speaker 1: It's on the main Stay. He's discussing the transition both 7 00:00:26,440 --> 00:00:30,080 Speaker 1: mental and physical, from being a consumer to a producer 8 00:00:30,560 --> 00:00:33,960 Speaker 1: to an investor. That were the last ten years, Mark 9 00:00:34,040 --> 00:00:38,640 Speaker 1: Zuckerberg has made more money than every NBA player combined. 10 00:00:39,320 --> 00:00:44,400 Speaker 1: I was like, wow, and I'm still at Apple. I said, who, 11 00:00:44,400 --> 00:00:49,199 Speaker 1: I'm doing this wrong? So I said, you know, I 12 00:00:49,280 --> 00:00:53,200 Speaker 1: want to move from being a consumer to a producer 13 00:00:53,960 --> 00:00:57,440 Speaker 1: to an investor. And Paul said, you know what if 14 00:00:57,480 --> 00:01:00,840 Speaker 1: you're living the same challenges as most of them, It's 15 00:01:00,880 --> 00:01:03,840 Speaker 1: called the dream is dimember. See, either you can risk 16 00:01:04,000 --> 00:01:07,160 Speaker 1: chasing your dreams or you can have the safety of 17 00:01:07,200 --> 00:01:11,120 Speaker 1: working on someone else's. The question is which one you're 18 00:01:11,160 --> 00:01:15,280 Speaker 1: gonna choose. It's easy. I went to tex Square Labs 19 00:01:15,760 --> 00:01:18,560 Speaker 1: is in Atlanta, Georgia. For those you are on the 20 00:01:18,600 --> 00:01:21,040 Speaker 1: East Coast that want to think about building This is 21 00:01:21,080 --> 00:01:25,440 Speaker 1: a place that you can come and learn how to 22 00:01:25,520 --> 00:01:29,479 Speaker 1: build something from nothing. You gotta do what you love. 23 00:01:30,720 --> 00:01:34,440 Speaker 1: Prioritize your passion, but tell the world because they'll hold 24 00:01:34,480 --> 00:01:38,280 Speaker 1: your accountable and from there you'll be able to make 25 00:01:38,319 --> 00:01:43,720 Speaker 1: it happen. So the way I say this is listen, 26 00:01:44,480 --> 00:01:48,600 Speaker 1: don't define your destiny about where you are today. If 27 00:01:48,640 --> 00:01:52,600 Speaker 1: you have a plan in your heart, go after achieve. 28 00:01:55,160 --> 00:01:58,120 Speaker 1: I'm Will Lucas and this is Black Tech Dream Money. 29 00:01:58,880 --> 00:02:01,080 Speaker 1: I'm gonna introduce you to of the biggest names, some 30 00:02:01,120 --> 00:02:04,640 Speaker 1: of the brightest minds and brilliant ideas. If you're black, 31 00:02:04,680 --> 00:02:07,120 Speaker 1: in building or simply using tech to secure your back, 32 00:02:07,680 --> 00:02:15,679 Speaker 1: this podcast is for you. Collapse Capitals and Investment fund 33 00:02:15,760 --> 00:02:19,320 Speaker 1: leveraging financial, human, and social capital to help black founders 34 00:02:19,320 --> 00:02:24,880 Speaker 1: build sustainable innovations in their businesses. Three managing partners, Verry Givens, 35 00:02:24,960 --> 00:02:28,600 Speaker 1: Jill Bert's and Justin Dawkins, are previously operators and engineers 36 00:02:28,720 --> 00:02:33,000 Speaker 1: who run innovative startups, very significant venture capital and successfully 37 00:02:33,040 --> 00:02:36,440 Speaker 1: sold their companies. I asked the partners about the state 38 00:02:36,440 --> 00:02:39,640 Speaker 1: of black startups. What is unique about this current moment 39 00:02:39,639 --> 00:02:43,040 Speaker 1: in history that make collap capital both an opportunity and 40 00:02:43,160 --> 00:02:47,840 Speaker 1: necessary step in their respective careers. It is so important 41 00:02:47,960 --> 00:02:53,320 Speaker 1: right now to be supporting investing in black founders because 42 00:02:53,440 --> 00:02:59,680 Speaker 1: we know that this year alone has been crazy for everyone, 43 00:03:00,400 --> 00:03:03,840 Speaker 1: but in particular for black founding businesses. Um there's some 44 00:03:03,919 --> 00:03:08,560 Speaker 1: scary statistics out there around the fact that of black 45 00:03:08,600 --> 00:03:13,120 Speaker 1: founded companies may not recover at all from OVID, and 46 00:03:13,840 --> 00:03:16,840 Speaker 1: we want to make sure that the companies that we 47 00:03:16,960 --> 00:03:21,919 Speaker 1: can support actually do make it. And so even before that, though, 48 00:03:22,000 --> 00:03:26,680 Speaker 1: even before this year and before you know, people became 49 00:03:26,720 --> 00:03:29,800 Speaker 1: more aware of the fact that black founded companies needed 50 00:03:29,840 --> 00:03:34,240 Speaker 1: more resources, we already were on this mission to invest 51 00:03:34,280 --> 00:03:36,560 Speaker 1: in black founders, and it was really born out of 52 00:03:36,600 --> 00:03:39,480 Speaker 1: our own journeys. All of us have built companies before, 53 00:03:40,000 --> 00:03:43,240 Speaker 1: all of us have had difficulty raising money before getting 54 00:03:43,280 --> 00:03:46,160 Speaker 1: access to the right networks, and so we kind of 55 00:03:46,160 --> 00:03:49,280 Speaker 1: made a vow to ourselves and to each other that 56 00:03:49,520 --> 00:03:52,600 Speaker 1: when we could, we would make sure that the next 57 00:03:52,600 --> 00:03:55,760 Speaker 1: generation of entrepreneurs coming up behind us would not have 58 00:03:55,840 --> 00:03:57,240 Speaker 1: to deal with some of the things that we had 59 00:03:57,280 --> 00:03:59,880 Speaker 1: to deal with on our journeys. So that's really the 60 00:04:00,040 --> 00:04:02,960 Speaker 1: why is. You know, we saw this opportunity in the 61 00:04:03,040 --> 00:04:06,120 Speaker 1: market to serve black founders. We think there's a huge 62 00:04:06,120 --> 00:04:09,560 Speaker 1: market opportunity, not just it's not a charity opportunity, it's 63 00:04:09,600 --> 00:04:13,480 Speaker 1: really a business opportunity to support black founders. And we 64 00:04:13,560 --> 00:04:15,560 Speaker 1: felt like we were the right people to do it, 65 00:04:16,080 --> 00:04:19,280 Speaker 1: giving our experience and giving our backgrounds. Barry, let's talk 66 00:04:19,320 --> 00:04:22,000 Speaker 1: about that. So, you know, being venture funded in your 67 00:04:22,040 --> 00:04:25,920 Speaker 1: your career, trajecting your business, and what is it about 68 00:04:25,960 --> 00:04:30,680 Speaker 1: the traditional VC ecosystem that may not be great for 69 00:04:30,720 --> 00:04:34,240 Speaker 1: black entrepreneurs where we get you know, disproportionately affected by 70 00:04:34,360 --> 00:04:39,360 Speaker 1: decisions or ways of doing business. Yeah, I'll touch you 71 00:04:39,400 --> 00:04:42,840 Speaker 1: on two quick points covering that, UM, and thank you 72 00:04:42,880 --> 00:04:45,800 Speaker 1: for having us today too. Well, appreciate you. UM, get 73 00:04:45,839 --> 00:04:49,000 Speaker 1: that out of the way. UM. But you know, like 74 00:04:49,080 --> 00:04:52,600 Speaker 1: going through this journey, you even if you look at 75 00:04:52,720 --> 00:04:57,560 Speaker 1: funds you know that have you know, black managing partners 76 00:04:57,680 --> 00:05:01,640 Speaker 1: right and or funds that folks so on diversity or 77 00:05:01,800 --> 00:05:06,240 Speaker 1: you know marginalized people. UM, black founders still tend to 78 00:05:06,279 --> 00:05:10,279 Speaker 1: be marginalized within the marginalized UM. And so it was 79 00:05:10,320 --> 00:05:13,039 Speaker 1: a really big deal for us to say, like we 80 00:05:13,120 --> 00:05:17,120 Speaker 1: are unapologetically black, Like we don't use words like minority, 81 00:05:17,240 --> 00:05:20,240 Speaker 1: we don't use words like diversity, like we invest in 82 00:05:20,360 --> 00:05:23,800 Speaker 1: black founders, because that is the issue, like when you 83 00:05:23,839 --> 00:05:27,000 Speaker 1: think about diversity to sixties, we were still being left 84 00:05:27,040 --> 00:05:30,039 Speaker 1: in the dust, right. And so then you take it 85 00:05:30,040 --> 00:05:32,280 Speaker 1: a step further and let's say black founders do get 86 00:05:32,320 --> 00:05:35,920 Speaker 1: that first check. The way that venture capitalists built now 87 00:05:36,040 --> 00:05:38,880 Speaker 1: is that it's always running to the next check, it's 88 00:05:38,920 --> 00:05:41,560 Speaker 1: always running to the next round. Um. And you take 89 00:05:41,600 --> 00:05:44,159 Speaker 1: companies like mine that we you know, I was able 90 00:05:44,200 --> 00:05:47,040 Speaker 1: to secure capital, and then when you need to get 91 00:05:47,080 --> 00:05:50,560 Speaker 1: to that next level, that's typically where black founders you 92 00:05:50,640 --> 00:05:53,560 Speaker 1: can't find that person that believes in you too to 93 00:05:53,680 --> 00:05:55,280 Speaker 1: give you that eight new which what we were raising. 94 00:05:55,360 --> 00:05:57,640 Speaker 1: You can't find that, you know, seven eight million dollars 95 00:05:57,680 --> 00:06:01,960 Speaker 1: for your Series A uh um. And we needed to 96 00:06:02,000 --> 00:06:05,159 Speaker 1: create a model that allowed for founders to not depend 97 00:06:05,200 --> 00:06:08,000 Speaker 1: on that system, right like you eat. So even when 98 00:06:08,040 --> 00:06:11,160 Speaker 1: we get them to building the sustainable businesses, you run 99 00:06:11,200 --> 00:06:13,279 Speaker 1: your business and you decide if you go ask somebody, 100 00:06:13,240 --> 00:06:16,240 Speaker 1: you decide if you give somebody the opportunity to invest 101 00:06:16,279 --> 00:06:19,000 Speaker 1: in your business, um. And that's how we allow black 102 00:06:19,000 --> 00:06:21,200 Speaker 1: founder to be more successful because honestly, we're not going 103 00:06:21,240 --> 00:06:23,920 Speaker 1: to change that system overnight. And in this world, if 104 00:06:23,960 --> 00:06:26,320 Speaker 1: you can't get the series B, you know, and keep 105 00:06:26,400 --> 00:06:28,760 Speaker 1: raising and keep raising UM. A lot of times you 106 00:06:28,760 --> 00:06:31,120 Speaker 1: don't reach that level of success. And so those are 107 00:06:31,160 --> 00:06:34,120 Speaker 1: two things, you know, why we found it so important 108 00:06:34,200 --> 00:06:37,560 Speaker 1: to develop this new model. And and justin when I 109 00:06:37,560 --> 00:06:41,240 Speaker 1: think about UM in Bury and Jules just talked about it, 110 00:06:41,240 --> 00:06:44,200 Speaker 1: you know, having that access to capital, and you know 111 00:06:44,279 --> 00:06:46,840 Speaker 1: this as well as anybody, it's often more than just 112 00:06:47,040 --> 00:06:49,440 Speaker 1: capital that we need. All of the capital is important. 113 00:06:49,440 --> 00:06:51,840 Speaker 1: There's just you know, tweet going around talks about we're 114 00:06:51,920 --> 00:06:55,960 Speaker 1: over mentored and underfunded right into too often. And but 115 00:06:56,640 --> 00:06:59,359 Speaker 1: other things beyond the capital is also important too. So 116 00:06:59,400 --> 00:07:00,680 Speaker 1: I don't want to talk about I want to talk 117 00:07:00,680 --> 00:07:03,000 Speaker 1: about this a couple of times during this conversation, like 118 00:07:03,400 --> 00:07:08,640 Speaker 1: what other things do entrepreneurs need that particularly black entrepreneurs 119 00:07:08,720 --> 00:07:11,880 Speaker 1: don't get in traditional VC relationships that you guys made 120 00:07:11,880 --> 00:07:15,760 Speaker 1: it a priority to focus on. Yeah, that's that's a 121 00:07:15,800 --> 00:07:18,600 Speaker 1: great question, Will um and and really appreciate that question 122 00:07:18,600 --> 00:07:21,960 Speaker 1: because it really points to the purpose of collab I mean, 123 00:07:22,200 --> 00:07:25,320 Speaker 1: it's short for collaboration UM. One of the things that 124 00:07:25,600 --> 00:07:27,880 Speaker 1: is often just one of many things that is often 125 00:07:27,880 --> 00:07:30,880 Speaker 1: missing UM is usually promised, which is, oh, we're going 126 00:07:30,920 --> 00:07:33,640 Speaker 1: to be your partners. We're going to do the things 127 00:07:33,640 --> 00:07:36,880 Speaker 1: that we need to do to UM sidecar the capital 128 00:07:37,040 --> 00:07:39,440 Speaker 1: right that's going into the business, But the level of 129 00:07:39,480 --> 00:07:43,280 Speaker 1: intentionality is not always there, which is the commitment, the 130 00:07:43,600 --> 00:07:48,320 Speaker 1: willingness to get into the weeds. UM and as experienced operators, 131 00:07:48,320 --> 00:07:50,679 Speaker 1: all three of us having built different types of businesses 132 00:07:50,680 --> 00:07:53,480 Speaker 1: and helped to create other types of businesses, we recognize 133 00:07:53,520 --> 00:07:57,840 Speaker 1: and understand that sometimes the best investors are experienced operators, 134 00:07:57,960 --> 00:08:00,760 Speaker 1: folks who understand how they kind of get into the weeds, 135 00:08:01,000 --> 00:08:04,360 Speaker 1: how to identify business models and opportunities and then build 136 00:08:04,400 --> 00:08:07,200 Speaker 1: out of build out of that experience as opposed to 137 00:08:07,240 --> 00:08:10,400 Speaker 1: just bringing capital U. And then the other thing is 138 00:08:10,800 --> 00:08:15,240 Speaker 1: access to networks. Right, so business is still relationships entered. 139 00:08:15,440 --> 00:08:18,920 Speaker 1: And so no matter how many machines and artificial intelligence 140 00:08:18,960 --> 00:08:22,000 Speaker 1: we put in place, we need relationships. And you know, 141 00:08:22,520 --> 00:08:27,360 Speaker 1: two notches above warm intros. We need highly intentional relationships 142 00:08:27,360 --> 00:08:30,560 Speaker 1: that are developed, nurtured, and so there's there's lines of 143 00:08:30,600 --> 00:08:33,840 Speaker 1: trust so that our founders can get into the doors, 144 00:08:34,200 --> 00:08:37,280 Speaker 1: secure the conversations that they need to have, and get 145 00:08:37,320 --> 00:08:39,920 Speaker 1: the deals actually done. And so those are the things 146 00:08:39,920 --> 00:08:43,520 Speaker 1: that we are actually focused on. The collab through our 147 00:08:43,679 --> 00:08:48,720 Speaker 1: non capital contributions and investments U and very because you know, 148 00:08:48,800 --> 00:08:53,480 Speaker 1: we're working towards building more inclusion and economic opportunity for 149 00:08:53,600 --> 00:08:58,160 Speaker 1: entrepreneurs who typically haven't seen these opportunities historically. Um, how 150 00:08:58,160 --> 00:09:00,680 Speaker 1: do you approach them differently and meet their knees? And 151 00:09:00,840 --> 00:09:03,240 Speaker 1: what I mean by that is, is there a difference 152 00:09:03,400 --> 00:09:06,840 Speaker 1: in the term sheet structure like that you would give 153 00:09:06,880 --> 00:09:09,480 Speaker 1: a black entrepreneur versus one that a VC and a 154 00:09:09,600 --> 00:09:11,680 Speaker 1: traditional firm might give. And we don't have to just 155 00:09:11,720 --> 00:09:14,120 Speaker 1: tick the term sheets, but how is it, Um, how 156 00:09:14,120 --> 00:09:17,800 Speaker 1: are the structures set up with that capital infusion different 157 00:09:17,920 --> 00:09:21,360 Speaker 1: if they are for black founders versus the typical ones 158 00:09:21,400 --> 00:09:25,840 Speaker 1: they might receive. So I mean we can dive into 159 00:09:25,920 --> 00:09:28,640 Speaker 1: that super deep. You talk about just traditional term sheets 160 00:09:28,679 --> 00:09:31,520 Speaker 1: that uh, I would even get into the term sheets, 161 00:09:31,520 --> 00:09:36,200 Speaker 1: but I got the terms just typically aren't there. And 162 00:09:36,240 --> 00:09:38,480 Speaker 1: so typically what you're here is, you know, as a 163 00:09:38,480 --> 00:09:42,040 Speaker 1: black founder, you need to have you know, Series A 164 00:09:42,360 --> 00:09:45,200 Speaker 1: level progress to get sea level terms. You gotta have 165 00:09:45,320 --> 00:09:49,040 Speaker 1: speries B level progress to get Series A level terms. Um. 166 00:09:49,080 --> 00:09:51,320 Speaker 1: You know, you take businesses like you know a part 167 00:09:51,400 --> 00:09:54,760 Speaker 1: Kick or Masnew like these businesses that we were growing, 168 00:09:55,280 --> 00:09:58,400 Speaker 1: and you know, you have seven figure revenues and you 169 00:09:58,480 --> 00:10:02,560 Speaker 1: still can't get over you know, you still can't raise five, seven, 170 00:10:02,679 --> 00:10:05,720 Speaker 1: eight million dollars and you have companies out here. You know, 171 00:10:05,760 --> 00:10:08,920 Speaker 1: not to throw names out there, but I appreciate people 172 00:10:08,960 --> 00:10:11,400 Speaker 1: know it. But people with you know, two thousand users 173 00:10:11,440 --> 00:10:14,880 Speaker 1: get a hundred million dollar valuations. It's you know, how 174 00:10:14,920 --> 00:10:18,240 Speaker 1: do you compete in that world? And so basically what 175 00:10:18,720 --> 00:10:21,560 Speaker 1: we said, it's like, let's break that world down. And 176 00:10:21,679 --> 00:10:24,320 Speaker 1: something that I tend to like to brag about is that, 177 00:10:24,880 --> 00:10:27,880 Speaker 1: you know, we we tore that model down, not in 178 00:10:27,880 --> 00:10:30,800 Speaker 1: a negative way, but just literally layer by layer by 179 00:10:30,880 --> 00:10:33,880 Speaker 1: layer and pull it back to find out, why are 180 00:10:33,920 --> 00:10:37,640 Speaker 1: these inequalities here? How was this system built? When you 181 00:10:37,920 --> 00:10:40,400 Speaker 1: tear it all the way back? We justin wrote a 182 00:10:40,400 --> 00:10:43,640 Speaker 1: piece and when he sent it over to us to read. 183 00:10:43,720 --> 00:10:46,559 Speaker 1: You know, one of the um things in the peace 184 00:10:46,679 --> 00:10:49,120 Speaker 1: was that, you know, venture capital started when black people 185 00:10:49,160 --> 00:10:52,960 Speaker 1: still couldn't vote. Yeah, like, this was constructed at a 186 00:10:52,960 --> 00:10:56,440 Speaker 1: time we had no power, and so obviously it wasn't 187 00:10:56,440 --> 00:10:58,760 Speaker 1: built for us. And so now when we when we 188 00:10:58,800 --> 00:11:02,040 Speaker 1: stripped back layer by air by layer, one of the 189 00:11:02,080 --> 00:11:04,880 Speaker 1: big things that we wanted to focus on. Our model 190 00:11:05,559 --> 00:11:10,079 Speaker 1: was ownership and flexibility as black founders. How many times 191 00:11:10,080 --> 00:11:12,040 Speaker 1: have we seen the founder build a company and get 192 00:11:12,040 --> 00:11:14,600 Speaker 1: removed as CEO. We told they had to go in 193 00:11:14,600 --> 00:11:17,720 Speaker 1: this direction. And so what we did was we built 194 00:11:17,840 --> 00:11:20,760 Speaker 1: a model from scratch UM Like, we're not using a 195 00:11:20,920 --> 00:11:23,920 Speaker 1: traditional we're not using a safe note or a convertible 196 00:11:23,920 --> 00:11:27,400 Speaker 1: note or traditional series a turn sheet. UM. We built 197 00:11:27,520 --> 00:11:30,120 Speaker 1: and spent a year and a half of eighteen months 198 00:11:30,440 --> 00:11:34,199 Speaker 1: building an entirely new investment vehicle UM that allowed us 199 00:11:34,200 --> 00:11:38,040 Speaker 1: to give the founders that ownership and that flexibility to 200 00:11:38,200 --> 00:11:40,000 Speaker 1: run the company the way they think it needs to 201 00:11:40,000 --> 00:11:42,760 Speaker 1: be ran obviously with us as advisors and with our 202 00:11:42,920 --> 00:11:46,280 Speaker 1: LP network and that human capital justin talked about. But 203 00:11:46,440 --> 00:11:48,679 Speaker 1: for us, like that is the important thing that we 204 00:11:48,720 --> 00:11:51,680 Speaker 1: want these founders to build generational wealth. And you don't 205 00:11:51,720 --> 00:11:54,720 Speaker 1: build generational wealth by not owning the thing that that 206 00:11:54,800 --> 00:11:57,079 Speaker 1: you built. And so that's where a lot of our 207 00:11:57,080 --> 00:11:59,920 Speaker 1: focus is in our model. That's really really, really good. 208 00:12:00,240 --> 00:12:03,199 Speaker 1: I think about not only do you have the differences 209 00:12:03,280 --> 00:12:06,959 Speaker 1: in focusing on black entrepreneurs specifically in our needs, but 210 00:12:07,080 --> 00:12:10,000 Speaker 1: you also have a geographical difference, Like what is the 211 00:12:10,040 --> 00:12:12,800 Speaker 1: difference Jewel, if you can speak to this, what is 212 00:12:12,800 --> 00:12:17,160 Speaker 1: the difference between raising money in the traditional network like ecosystem, 213 00:12:17,160 --> 00:12:21,720 Speaker 1: like a Silicon Valley versus like a Georgia or in 214 00:12:21,760 --> 00:12:24,439 Speaker 1: the South period, Like what are those critical differences that 215 00:12:24,480 --> 00:12:27,199 Speaker 1: you're gonna get when you're having those conversations with angels 216 00:12:27,240 --> 00:12:32,600 Speaker 1: and vcs. Yeah, term sheets and the terms in general 217 00:12:32,640 --> 00:12:36,640 Speaker 1: look very different in Silicon Valley than they look in Atlanta. 218 00:12:36,840 --> 00:12:38,679 Speaker 1: And that's one of the things that we really wanted 219 00:12:38,720 --> 00:12:41,400 Speaker 1: to focus in on as well, is that you shouldn't 220 00:12:41,440 --> 00:12:43,880 Speaker 1: have to be in Silicon Valley or in New York 221 00:12:43,960 --> 00:12:46,520 Speaker 1: or in Boston to build a great business. You should 222 00:12:46,520 --> 00:12:49,000 Speaker 1: be able to build wherever you have the right network 223 00:12:49,040 --> 00:12:51,360 Speaker 1: and you have the customer base and you have the 224 00:12:51,440 --> 00:12:56,200 Speaker 1: talent um. Wherever is is it works for your particular business. 225 00:12:56,320 --> 00:12:58,559 Speaker 1: And so that's one of the things that we've built 226 00:12:58,559 --> 00:13:01,360 Speaker 1: into the model is how do we leverage what's strong 227 00:13:01,440 --> 00:13:04,559 Speaker 1: about the cities that we're in talking about Black people 228 00:13:04,679 --> 00:13:07,920 Speaker 1: were in Atlanta, So how do we leverage what's great 229 00:13:07,960 --> 00:13:13,320 Speaker 1: about Atlanta? The influence, the culture, uh right, you know, 230 00:13:13,360 --> 00:13:17,280 Speaker 1: the access to fortunate five companies. How do we leverage 231 00:13:17,320 --> 00:13:20,560 Speaker 1: all of those things to make startups successful here and 232 00:13:20,640 --> 00:13:24,000 Speaker 1: so everywhere that we want to be Think about Detroit, 233 00:13:24,040 --> 00:13:27,520 Speaker 1: think about Atlanta, think about Baltimore. Um, how do we 234 00:13:27,559 --> 00:13:31,120 Speaker 1: go into those cities and really tap into what's already 235 00:13:31,160 --> 00:13:35,439 Speaker 1: there instead of trying to recreate what has been was 236 00:13:35,480 --> 00:13:39,400 Speaker 1: worked arguably work for Secon Valley. Let's not try to 237 00:13:39,440 --> 00:13:42,240 Speaker 1: make you know these little mini silicon valleys. Let's try 238 00:13:42,280 --> 00:13:46,640 Speaker 1: to make ecosystems that work for the people there and 239 00:13:46,640 --> 00:13:50,280 Speaker 1: then allow those people to stay there, build their companies there, 240 00:13:50,679 --> 00:13:53,360 Speaker 1: impact the communities there. That's what we want to be 241 00:13:53,400 --> 00:13:56,560 Speaker 1: a part of and what we think our model helps facilitate. 242 00:13:57,600 --> 00:14:00,400 Speaker 1: Sticking with you, like, there are people who come to 243 00:14:00,520 --> 00:14:03,120 Speaker 1: this conference and are looking to invest, and maybe they're 244 00:14:03,120 --> 00:14:05,880 Speaker 1: not sophisticated investors, but they they got a little bit 245 00:14:05,920 --> 00:14:07,880 Speaker 1: of money, you know, put away, or maybe they have 246 00:14:08,240 --> 00:14:11,600 Speaker 1: high incomes or etcetera. They're looking for deals. And how 247 00:14:11,640 --> 00:14:16,320 Speaker 1: should people who have that makeup, Um, dip there? Either 248 00:14:16,440 --> 00:14:18,360 Speaker 1: I don't even know if it's would say, dip their 249 00:14:18,400 --> 00:14:20,240 Speaker 1: toe in the water, because you are in you know, 250 00:14:20,280 --> 00:14:22,600 Speaker 1: once you write that check, you just married somebody, Like 251 00:14:22,720 --> 00:14:24,320 Speaker 1: how do you learn to do this? Like, you guys 252 00:14:24,360 --> 00:14:27,800 Speaker 1: aren't you know, you don't have historical VC. You know 253 00:14:27,960 --> 00:14:30,080 Speaker 1: d n A right, but how do you how do 254 00:14:30,120 --> 00:14:32,520 Speaker 1: you learn how to do this? And um do it 255 00:14:32,520 --> 00:14:34,920 Speaker 1: in a way where you understand that you're gonna make 256 00:14:34,920 --> 00:14:39,560 Speaker 1: some bad calls. Well, we would argue that you should 257 00:14:39,640 --> 00:14:43,840 Speaker 1: invest in Collapse, so we can there you go. But 258 00:14:44,360 --> 00:14:46,360 Speaker 1: you know, one of the things that that that I 259 00:14:46,400 --> 00:14:48,920 Speaker 1: did and in Burying just and have done as well, is, 260 00:14:49,360 --> 00:14:52,000 Speaker 1: um we got out there, we started making writing checks 261 00:14:52,000 --> 00:14:55,320 Speaker 1: and putting our own capital UM at risk to see 262 00:14:55,360 --> 00:14:58,680 Speaker 1: what is this thing all about? So before we started Collapse, 263 00:14:59,000 --> 00:15:02,560 Speaker 1: I was experiment seeing with different ways to put together 264 00:15:02,680 --> 00:15:05,960 Speaker 1: deals with my angel investments and then also learning from 265 00:15:06,040 --> 00:15:10,040 Speaker 1: other funds through LP investments. And so the best way 266 00:15:10,120 --> 00:15:12,200 Speaker 1: to learn is really to put some money out there 267 00:15:12,240 --> 00:15:15,280 Speaker 1: and see what happens. And I don't I always tell 268 00:15:15,400 --> 00:15:19,120 Speaker 1: new investors you should invest like this money is not 269 00:15:19,160 --> 00:15:23,000 Speaker 1: coming back. It's very risky to invest in early stage companies. 270 00:15:23,360 --> 00:15:25,920 Speaker 1: But um, you know, one of the ways is just 271 00:15:25,960 --> 00:15:29,440 Speaker 1: to start, even if you're starting small with you know, thousands, 272 00:15:29,440 --> 00:15:33,320 Speaker 1: five thousand, ten thousand dollar checks. That's one way. And 273 00:15:33,360 --> 00:15:35,560 Speaker 1: then I made a joke at the beginning about just 274 00:15:35,640 --> 00:15:38,600 Speaker 1: invest in collab, But really we did build a model 275 00:15:38,680 --> 00:15:43,360 Speaker 1: to get more particularly black investors activated and get them 276 00:15:43,360 --> 00:15:46,560 Speaker 1: more comfortable with the idea of investing in early stage 277 00:15:46,960 --> 00:15:51,720 Speaker 1: technology scalable companies. And one of the unique things about 278 00:15:51,720 --> 00:15:55,200 Speaker 1: our model is that in a typical VC funds structure, 279 00:15:55,320 --> 00:15:58,480 Speaker 1: if you invest, you're expecting that you're not gonna see 280 00:15:58,480 --> 00:16:01,360 Speaker 1: that money in the next seven to ten years because 281 00:16:01,360 --> 00:16:04,520 Speaker 1: you're waiting on exits. But in our model, given that 282 00:16:04,560 --> 00:16:07,360 Speaker 1: we have we have this profit share model, we expect 283 00:16:07,360 --> 00:16:10,880 Speaker 1: to be returning capital to our LPs within three years 284 00:16:10,920 --> 00:16:13,920 Speaker 1: of their investment. So just a little different, but it 285 00:16:14,000 --> 00:16:17,240 Speaker 1: was really built to help activate people that are a 286 00:16:17,240 --> 00:16:20,400 Speaker 1: little timid to put their capital to work in this way. 287 00:16:20,720 --> 00:16:22,960 Speaker 1: Justin let's not even into that profit sharing my life, 288 00:16:22,960 --> 00:16:25,080 Speaker 1: how does that functionally work? So when you get when 289 00:16:25,120 --> 00:16:27,080 Speaker 1: you find somebody, you run into somebody at you know, 290 00:16:27,120 --> 00:16:30,200 Speaker 1: the gathering spot or wherever you at, and they're like, yo, 291 00:16:30,280 --> 00:16:33,080 Speaker 1: I gotta fit the grand you know, just put away 292 00:16:32,720 --> 00:16:36,080 Speaker 1: to do something with like and you're explaining to me, 293 00:16:36,160 --> 00:16:39,360 Speaker 1: I'm gonna make money faster or potentially make some money 294 00:16:39,440 --> 00:16:42,040 Speaker 1: back faster than that seven to ten. You know, you're 295 00:16:42,080 --> 00:16:46,280 Speaker 1: spending jewel talks about how does that functionally work. That's 296 00:16:46,320 --> 00:16:48,920 Speaker 1: a great question, will Um. It's something that we actually 297 00:16:49,000 --> 00:16:52,600 Speaker 1: enjoy talking about. When we're talking to LPs, particularly of 298 00:16:52,680 --> 00:16:55,960 Speaker 1: the more experienced VC path they understand that a little 299 00:16:56,000 --> 00:16:57,680 Speaker 1: bit more So, it's always great to kind of unearth 300 00:16:57,720 --> 00:16:59,240 Speaker 1: and peel back the layers of what we what we 301 00:16:59,440 --> 00:17:03,280 Speaker 1: work to do UM for for that that investor, for 302 00:17:03,360 --> 00:17:07,240 Speaker 1: that potential limited partner in our company, that LP. What 303 00:17:07,359 --> 00:17:09,840 Speaker 1: we focus on is kind of two key things. One, 304 00:17:10,280 --> 00:17:13,199 Speaker 1: we still need you to be an active limited partner, right, 305 00:17:13,280 --> 00:17:16,120 Speaker 1: We still want you to activate those networks to help 306 00:17:16,400 --> 00:17:20,159 Speaker 1: you know, UM open doors provide pathways for revenue and 307 00:17:20,240 --> 00:17:23,199 Speaker 1: profitability for our companies UM, and so that's kind of 308 00:17:23,200 --> 00:17:24,720 Speaker 1: the very first thing we want to do is we 309 00:17:24,960 --> 00:17:28,080 Speaker 1: want relationships and we want collaboration. And then on the 310 00:17:28,080 --> 00:17:30,560 Speaker 1: actual fund mechanics side of it, what we do is 311 00:17:30,600 --> 00:17:34,000 Speaker 1: we focus on profit sharing and so UM instead of 312 00:17:34,000 --> 00:17:37,680 Speaker 1: waiting that the seven to ten years, as Jewel described UM, 313 00:17:37,800 --> 00:17:40,160 Speaker 1: when there's an when we make an investment, we set 314 00:17:40,280 --> 00:17:44,200 Speaker 1: terms with our target investment with the portfolio company UM, 315 00:17:44,240 --> 00:17:46,239 Speaker 1: and we we set out a time frame of when 316 00:17:46,280 --> 00:17:48,840 Speaker 1: they will actually start to return profits. And as those 317 00:17:48,840 --> 00:17:53,719 Speaker 1: profits return through our investment vehicle, we then distribute directly 318 00:17:53,760 --> 00:17:56,600 Speaker 1: back to the LPs. And one of the really cool 319 00:17:56,640 --> 00:17:59,520 Speaker 1: features of our our investment model is we also have 320 00:18:00,160 --> 00:18:03,119 Speaker 1: partners um and that those growth partners are largely made 321 00:18:03,200 --> 00:18:05,680 Speaker 1: up of our LPs. So again we get to activate them, 322 00:18:06,000 --> 00:18:08,560 Speaker 1: get them really involved in a in a high touch way, 323 00:18:09,080 --> 00:18:11,840 Speaker 1: which also gives them kind of like an angel investor 324 00:18:12,000 --> 00:18:14,600 Speaker 1: level access as far as being on the cap table 325 00:18:15,040 --> 00:18:17,520 Speaker 1: where they can actually take direct profits. So as the 326 00:18:18,280 --> 00:18:23,199 Speaker 1: returns to come into um the return to the fund, 327 00:18:23,560 --> 00:18:25,880 Speaker 1: they actually will get a portion of their profit share 328 00:18:25,920 --> 00:18:30,960 Speaker 1: directly to them, which again increases their potential upside um 329 00:18:31,000 --> 00:18:34,240 Speaker 1: and gets again makes that that that access they have, 330 00:18:34,480 --> 00:18:36,920 Speaker 1: the work they're willing to do, and actually can compensate 331 00:18:36,960 --> 00:18:40,280 Speaker 1: them much sooner than seventy teen years out. Barry, Let's 332 00:18:40,320 --> 00:18:43,520 Speaker 1: back up, like on the how this building a fund 333 00:18:43,560 --> 00:18:45,840 Speaker 1: actually works. I would imagine there's people here who are 334 00:18:45,880 --> 00:18:48,879 Speaker 1: not like sophisticated, you know in an investment only on 335 00:18:48,960 --> 00:18:52,680 Speaker 1: the investor side of the table, but maybe just dope founders. 336 00:18:52,720 --> 00:18:55,200 Speaker 1: But when you are starting a phone like you're you're 337 00:18:55,200 --> 00:18:58,920 Speaker 1: starting your startup, You're you're pitching the people to give 338 00:18:58,960 --> 00:19:00,679 Speaker 1: you money so you can pick so you can give 339 00:19:00,720 --> 00:19:03,719 Speaker 1: the money away. Right you talk to me about how this, 340 00:19:04,040 --> 00:19:07,200 Speaker 1: how this works as starting a startup, which is your 341 00:19:07,240 --> 00:19:12,080 Speaker 1: fund in this respect, Yeah, it's it's super different than 342 00:19:12,160 --> 00:19:14,479 Speaker 1: selling the widget, right Like, Uh, you know, we were 343 00:19:14,560 --> 00:19:16,959 Speaker 1: raising the raising for ma Sria. You know, I walk in, 344 00:19:17,080 --> 00:19:20,560 Speaker 1: I would make people drink that touch the technology. You know, 345 00:19:20,640 --> 00:19:24,240 Speaker 1: they're and all and they're like, oh this thing really works, um, 346 00:19:24,280 --> 00:19:27,360 Speaker 1: you know. And so you have that excitement. And now 347 00:19:27,480 --> 00:19:30,520 Speaker 1: you walk into a room and or I guess nobody's 348 00:19:30,560 --> 00:19:32,399 Speaker 1: walking the room right now, but you have into a 349 00:19:32,480 --> 00:19:36,520 Speaker 1: zoom um and you say, hey, I need you to 350 00:19:36,520 --> 00:19:38,760 Speaker 1: give me money for some stuff that I don't even 351 00:19:38,800 --> 00:19:40,800 Speaker 1: know it's come out yet, right like, because I'm gonna 352 00:19:40,800 --> 00:19:45,159 Speaker 1: make investments. This money in you Like, I don't even 353 00:19:45,200 --> 00:19:47,359 Speaker 1: know if this entrepreneurs entree normal. I still be sitting 354 00:19:47,840 --> 00:19:50,440 Speaker 1: you know, in you know, North Carolina. A and T 355 00:19:50,680 --> 00:19:52,400 Speaker 1: is a student right now. We don't know what they're 356 00:19:52,400 --> 00:19:55,760 Speaker 1: gonna do, right, And so that's one of the more 357 00:19:55,840 --> 00:19:58,040 Speaker 1: difficult parts. But I think just as far as getting 358 00:19:58,040 --> 00:20:00,679 Speaker 1: a fund off the ground, one of the things I 359 00:20:00,680 --> 00:20:03,080 Speaker 1: love about our team is that we're operators right, Like, 360 00:20:03,200 --> 00:20:08,800 Speaker 1: this is what we do. We go into systems or 361 00:20:09,160 --> 00:20:11,119 Speaker 1: you know, industries, and we say, hey, there is a 362 00:20:11,119 --> 00:20:13,359 Speaker 1: gap here, there is a problem. And so if you 363 00:20:13,440 --> 00:20:16,560 Speaker 1: even combed through our website, we don't even mentor mentioned 364 00:20:16,560 --> 00:20:20,720 Speaker 1: ourselves venture capitalists. We call ourselves capital entrepreneurs. Like, we 365 00:20:20,880 --> 00:20:24,480 Speaker 1: saw a gap, but there's this big economic gap between 366 00:20:24,840 --> 00:20:27,000 Speaker 1: people that get funded by bank loans and people that 367 00:20:27,080 --> 00:20:29,960 Speaker 1: get venture capital. And it's eighty three cough, And put 368 00:20:29,960 --> 00:20:31,640 Speaker 1: out this report a couple of years ago that ad 369 00:20:31,720 --> 00:20:34,639 Speaker 1: three percent of businesses don't fit those two ways of 370 00:20:34,680 --> 00:20:37,480 Speaker 1: getting capital. So as an entrepreneur, you look at it 371 00:20:37,840 --> 00:20:40,199 Speaker 1: and you say, man, that's a big economic gap that 372 00:20:40,280 --> 00:20:42,880 Speaker 1: nobody's looking at right now. And so like, we can 373 00:20:42,920 --> 00:20:45,679 Speaker 1: go build something that takes advantage of that. And not 374 00:20:45,760 --> 00:20:47,879 Speaker 1: only could we do that, but a lot of black 375 00:20:47,880 --> 00:20:49,920 Speaker 1: companies fit in that gap as well. So not only 376 00:20:49,960 --> 00:20:53,320 Speaker 1: could we take advantage of this economic opportunity, we can 377 00:20:53,400 --> 00:20:55,280 Speaker 1: also do it in a way that's really good for 378 00:20:55,320 --> 00:20:57,920 Speaker 1: our community and build some wealth and start printing black 379 00:20:57,960 --> 00:21:00,959 Speaker 1: millionaires through this model. And so when you look at 380 00:21:01,000 --> 00:21:04,960 Speaker 1: it that way from entrepreneurial perspective, we've basically put ourselves 381 00:21:04,960 --> 00:21:08,280 Speaker 1: in a position that when we walk into investor rooms, 382 00:21:08,320 --> 00:21:12,440 Speaker 1: now we're not competing with the same funds that are 383 00:21:12,880 --> 00:21:16,080 Speaker 1: have the same exact traditional model they're coming in and 384 00:21:16,119 --> 00:21:18,840 Speaker 1: now it's just like, hey, will you have model A 385 00:21:19,280 --> 00:21:21,720 Speaker 1: and such and such you have from a point in 386 00:21:21,800 --> 00:21:23,439 Speaker 1: one right like if you're you're going out to the 387 00:21:23,480 --> 00:21:26,200 Speaker 1: same people with the same model. We becut ourselves in 388 00:21:26,200 --> 00:21:28,800 Speaker 1: a position as entrepreneurs that we're pitching a widget now 389 00:21:29,200 --> 00:21:31,639 Speaker 1: like we're coming into and we have this new shiny thing. 390 00:21:31,720 --> 00:21:34,679 Speaker 1: You should be investing in this model like and and 391 00:21:34,720 --> 00:21:37,680 Speaker 1: then you should be investing in this dope as team 392 00:21:37,840 --> 00:21:41,280 Speaker 1: of operators that has proven themselves. And so we're really 393 00:21:41,359 --> 00:21:43,920 Speaker 1: we're now we've we've gotten ourselves comfortable because we're pitching 394 00:21:43,920 --> 00:21:46,400 Speaker 1: like founders. Now we were walking in and so we're 395 00:21:46,400 --> 00:21:49,040 Speaker 1: not pitching like a traditional VC will walk in to 396 00:21:49,119 --> 00:21:51,240 Speaker 1: go raise capital for funds, and as you can see 397 00:21:51,240 --> 00:21:53,680 Speaker 1: them getting excited because now we're we're like, we've put 398 00:21:53,720 --> 00:22:10,000 Speaker 1: ourselves in the zone to make ourselves successful. Every investor 399 00:22:10,080 --> 00:22:12,320 Speaker 1: is looking for specific things when they think about putting 400 00:22:12,320 --> 00:22:15,960 Speaker 1: money in the startup. Maybe when they're vetting an opportunity, 401 00:22:16,119 --> 00:22:19,760 Speaker 1: they're looking at I found a pedigree. Maybe considering the 402 00:22:19,840 --> 00:22:23,040 Speaker 1: viability of the tech. Maybe they have a fear of 403 00:22:23,040 --> 00:22:27,280 Speaker 1: missing out on the next Google. Who knows for collapse capital, 404 00:22:27,560 --> 00:22:29,800 Speaker 1: what sparks they're interested enough to take a meeting with 405 00:22:29,840 --> 00:22:32,600 Speaker 1: the start of the founder, particularly at the earliest stage 406 00:22:32,720 --> 00:22:36,200 Speaker 1: when there isn't a ton of proof of concept. Justin 407 00:22:36,320 --> 00:22:39,240 Speaker 1: Dawkins speaks on it. Yeah, that's a great question, and 408 00:22:39,280 --> 00:22:41,879 Speaker 1: this is definitely the sweet spot. This is because this 409 00:22:41,920 --> 00:22:46,280 Speaker 1: is where I love to operate. Um just personally, I 410 00:22:46,280 --> 00:22:48,840 Speaker 1: think we look for two key things. Where I look 411 00:22:48,880 --> 00:22:52,399 Speaker 1: for two key things. One is great, right, so tenacity, 412 00:22:52,480 --> 00:22:55,920 Speaker 1: how do you your ability to solve problems and take 413 00:22:56,000 --> 00:22:58,520 Speaker 1: any advice and guidance and being able to discern and 414 00:22:58,520 --> 00:23:00,240 Speaker 1: that that will take some work and some getting used to, 415 00:23:00,320 --> 00:23:03,679 Speaker 1: especially for early stas companies, but I do look for that. 416 00:23:03,760 --> 00:23:06,400 Speaker 1: And the founders were they able to solve a problem 417 00:23:06,560 --> 00:23:08,160 Speaker 1: or how far they were able to get and trying 418 00:23:08,200 --> 00:23:10,600 Speaker 1: to solve their problem before they look for outside help. 419 00:23:10,880 --> 00:23:13,800 Speaker 1: So that's one thing, right, That's that creativity. And then 420 00:23:13,800 --> 00:23:16,200 Speaker 1: the other thing is you know, as as now a 421 00:23:16,520 --> 00:23:19,320 Speaker 1: partner in an investment firm, we're looking for kind of 422 00:23:19,359 --> 00:23:22,320 Speaker 1: similar personality traits and characteristics as it relates to our 423 00:23:22,359 --> 00:23:24,560 Speaker 1: community and the impact that we're trying to to have. 424 00:23:25,080 --> 00:23:26,679 Speaker 1: So one of the things, one of the signals for 425 00:23:26,760 --> 00:23:29,840 Speaker 1: us is you know, yes, wealth comes with a lot 426 00:23:29,880 --> 00:23:32,560 Speaker 1: of benefits, right, so, yes, you can go and buy 427 00:23:32,560 --> 00:23:35,960 Speaker 1: homes and nicer cars and you know things. But more importantly, 428 00:23:36,040 --> 00:23:38,200 Speaker 1: what is it that why are you doing this work 429 00:23:38,200 --> 00:23:40,280 Speaker 1: and what is it that you ultimately want to do 430 00:23:40,400 --> 00:23:43,320 Speaker 1: with the wealth that you're generating for you, your company, 431 00:23:43,320 --> 00:23:46,560 Speaker 1: in the community. That's important to me as well. Um, 432 00:23:46,600 --> 00:23:49,239 Speaker 1: and that's why I started with social impact with you know, 433 00:23:49,320 --> 00:23:51,439 Speaker 1: when I did the work with Good Nation was I 434 00:23:51,480 --> 00:23:53,440 Speaker 1: really really wanted to focus on folks who wanted to 435 00:23:53,480 --> 00:23:56,680 Speaker 1: solve tough problems. And if we made money along the way, 436 00:23:56,840 --> 00:23:58,639 Speaker 1: that's wonderful because we can do things with that. But 437 00:23:58,720 --> 00:24:01,080 Speaker 1: more importantly, what is the impact in the long term 438 00:24:01,160 --> 00:24:02,919 Speaker 1: impact of the work that we're doing. So it's more 439 00:24:02,920 --> 00:24:06,119 Speaker 1: about legacy. So so Jule, I think about you know, 440 00:24:06,119 --> 00:24:08,439 Speaker 1: when I hear an answer like justice, like how do 441 00:24:08,520 --> 00:24:11,680 Speaker 1: I show you that grit? When I'm standing I'm walking 442 00:24:11,720 --> 00:24:14,400 Speaker 1: in the hall during afro Tech conference and I see 443 00:24:14,480 --> 00:24:16,879 Speaker 1: you're walking by, Like how do I how do I 444 00:24:16,960 --> 00:24:20,399 Speaker 1: get your attention in that moment where you're like, oh, 445 00:24:20,520 --> 00:24:22,679 Speaker 1: you know what we should talk after this? How do 446 00:24:22,720 --> 00:24:26,520 Speaker 1: how do you do that? You know, it's it's hard 447 00:24:26,560 --> 00:24:29,480 Speaker 1: to do, especially at a conference like AFRO Tech. I'm 448 00:24:29,520 --> 00:24:32,880 Speaker 1: you know, given that we're now all online, I'm assuming 449 00:24:32,880 --> 00:24:34,840 Speaker 1: there will be new and innovative ways that people can 450 00:24:34,880 --> 00:24:38,000 Speaker 1: kind of get that that attention. But to me, it's 451 00:24:38,000 --> 00:24:42,240 Speaker 1: not about that initial meeting. I mean, that's great. You 452 00:24:42,280 --> 00:24:45,360 Speaker 1: need to be able to make yourself known and tell 453 00:24:45,480 --> 00:24:47,560 Speaker 1: somebody in a split second what you're working on and 454 00:24:47,560 --> 00:24:50,680 Speaker 1: why they should care. But it's really about the follow up. 455 00:24:51,200 --> 00:24:53,560 Speaker 1: I think that is the critical point that people need 456 00:24:53,600 --> 00:24:57,199 Speaker 1: to pay attention to is Okay, you've gotten my you 457 00:24:57,320 --> 00:24:59,840 Speaker 1: met me, you know how to touch with me. But 458 00:25:00,000 --> 00:25:02,480 Speaker 1: then are what are you doing after and are you 459 00:25:02,520 --> 00:25:07,520 Speaker 1: showcasing over time that you're you're on this, you're making 460 00:25:07,560 --> 00:25:11,200 Speaker 1: progress with me or without me, you're still making it happen. 461 00:25:11,400 --> 00:25:13,320 Speaker 1: That's the big thing I think a lot of people 462 00:25:13,359 --> 00:25:17,600 Speaker 1: miss because they're waiting on somebody to show them the 463 00:25:17,640 --> 00:25:21,160 Speaker 1: way or to give them something and and being stagnant. 464 00:25:21,480 --> 00:25:23,639 Speaker 1: But the people that really impressed me and the people 465 00:25:24,400 --> 00:25:27,160 Speaker 1: that we've invested in so far are the ones who 466 00:25:27,280 --> 00:25:30,399 Speaker 1: are able to showcase over time. This is this is 467 00:25:30,440 --> 00:25:32,760 Speaker 1: where you met me. Now it's a month later, and 468 00:25:32,760 --> 00:25:34,400 Speaker 1: I'm a little bit further. I'm a little bit further. 469 00:25:34,440 --> 00:25:37,320 Speaker 1: I'm a little bit further, and I'm telling you I'm 470 00:25:37,400 --> 00:25:40,800 Speaker 1: dictating that progress over time. That to me is what 471 00:25:40,880 --> 00:25:42,960 Speaker 1: gets me excited and makes me like, Okay, well you're 472 00:25:43,000 --> 00:25:44,720 Speaker 1: on it. Let me get let me get on your 473 00:25:44,720 --> 00:25:47,800 Speaker 1: train because you're going somewhere. Um, so that's I think 474 00:25:47,800 --> 00:25:50,280 Speaker 1: that's what we look for as well. You know, um 475 00:25:50,440 --> 00:25:58,480 Speaker 1: you also had security walking around affort security six six 476 00:25:59,440 --> 00:26:06,639 Speaker 1: to nine. Indeed, yes, you gotta get passing boys and 477 00:26:06,720 --> 00:26:09,679 Speaker 1: just just I think about, um, you know this is 478 00:26:09,760 --> 00:26:11,920 Speaker 1: Reid Hoffman Court says. You know, if you're not embarrassed 479 00:26:11,960 --> 00:26:13,600 Speaker 1: by the first launch of your your first person of 480 00:26:13,640 --> 00:26:16,159 Speaker 1: your product and you launched too late, and you know 481 00:26:16,240 --> 00:26:19,080 Speaker 1: when you think about, you know, your full stack entrepreneur, 482 00:26:19,119 --> 00:26:24,120 Speaker 1: full stack engineer, what what are your thoughts on when 483 00:26:24,160 --> 00:26:27,840 Speaker 1: you're evaluating, you know, some tech that somebody is pitching 484 00:26:27,840 --> 00:26:31,600 Speaker 1: you to invest in the technical viability of this thing, 485 00:26:31,680 --> 00:26:34,480 Speaker 1: Like what are you looking for in that that stack, 486 00:26:34,560 --> 00:26:38,240 Speaker 1: that code, that whatever that you know, its ability to 487 00:26:38,359 --> 00:26:40,560 Speaker 1: actually make it in the world, because I imagine if 488 00:26:40,600 --> 00:26:42,840 Speaker 1: I'm buried, you know what I'm and I had that machine, 489 00:26:43,400 --> 00:26:45,399 Speaker 1: you know, and I'm taking this to to this to 490 00:26:45,560 --> 00:26:48,600 Speaker 1: sweet I'm going to go show some people. I'm nervous, 491 00:26:48,680 --> 00:26:52,080 Speaker 1: armed printons sweating, and I'm like, please work today, right 492 00:26:52,560 --> 00:26:55,639 Speaker 1: because you just it's just it's tech, right and and 493 00:26:55,680 --> 00:26:58,399 Speaker 1: so and you haven't and you haven't always mastered it, 494 00:26:58,480 --> 00:27:01,919 Speaker 1: especially in those early stages when you're building technology, justin like, 495 00:27:02,280 --> 00:27:04,680 Speaker 1: how are you, as an as an engineer looking at 496 00:27:05,600 --> 00:27:08,359 Speaker 1: that that that stack to make sure that what they 497 00:27:08,400 --> 00:27:12,520 Speaker 1: say they can do they can actually do. Yeah, great question. 498 00:27:12,720 --> 00:27:14,199 Speaker 1: I think I've ever been asked this question, so I 499 00:27:14,240 --> 00:27:20,639 Speaker 1: really appreciate it. Um. The first thing is I'm self taught. 500 00:27:20,800 --> 00:27:23,800 Speaker 1: So you know, I taught myself how to design. I 501 00:27:23,800 --> 00:27:27,080 Speaker 1: taught myself how to two scripts and build databases and 502 00:27:27,240 --> 00:27:30,159 Speaker 1: like everything I've I've ever learned, UM, I learned it 503 00:27:30,160 --> 00:27:33,280 Speaker 1: on my own. UM. And so I give a lot 504 00:27:33,320 --> 00:27:37,359 Speaker 1: of grace um to two products and to two first 505 00:27:37,400 --> 00:27:40,399 Speaker 1: iterations and early versions of products, because I understand that 506 00:27:40,440 --> 00:27:42,159 Speaker 1: if you piece this together with a no code or 507 00:27:42,200 --> 00:27:44,560 Speaker 1: low coal solution, or you may have gone through two 508 00:27:44,600 --> 00:27:48,040 Speaker 1: or three developers, and that language barrier like like sometimes 509 00:27:48,040 --> 00:27:51,159 Speaker 1: figuratively and literally depending on where your development team is. 510 00:27:51,200 --> 00:27:55,160 Speaker 1: I understand those things because I've dealt with those things firsthand. 511 00:27:55,160 --> 00:27:58,160 Speaker 1: I've cleaned up code. I'm sure I've delivered message code. 512 00:27:58,160 --> 00:27:59,879 Speaker 1: There's someone else had to come behind and clean up 513 00:27:59,880 --> 00:28:03,200 Speaker 1: is well. Um And so I think that the first 514 00:28:03,200 --> 00:28:06,160 Speaker 1: thing that I look for is the value that you're 515 00:28:06,200 --> 00:28:09,400 Speaker 1: providing actually as the end product and more so than 516 00:28:09,640 --> 00:28:12,440 Speaker 1: the actual functional parts of the product, because I understand 517 00:28:12,480 --> 00:28:14,639 Speaker 1: that with the right team and the right capital, we 518 00:28:14,680 --> 00:28:17,040 Speaker 1: can always re engineer. We can re factor and rebuild 519 00:28:17,040 --> 00:28:19,880 Speaker 1: it um and and get it to a more stable, 520 00:28:20,040 --> 00:28:22,840 Speaker 1: stable or scalable place. So the first thing I do 521 00:28:23,000 --> 00:28:25,720 Speaker 1: is just how far did you get? Like? What did 522 00:28:25,720 --> 00:28:27,440 Speaker 1: you learn? What were you willing to learn? What would 523 00:28:27,440 --> 00:28:29,920 Speaker 1: you may be willing to do on your own um 524 00:28:30,160 --> 00:28:32,440 Speaker 1: to to get you as far as you could go 525 00:28:33,080 --> 00:28:35,840 Speaker 1: before you brought in that third engineer or before you 526 00:28:35,920 --> 00:28:39,320 Speaker 1: committed to a CTO. I don't want that won't necessarily 527 00:28:39,920 --> 00:28:42,120 Speaker 1: profounders to run around and bump their knees all the time, 528 00:28:42,480 --> 00:28:46,080 Speaker 1: but I do appreciate and respect you know, being able 529 00:28:46,120 --> 00:28:49,880 Speaker 1: to piece it together and ultimately provide value. And if 530 00:28:49,880 --> 00:28:53,160 Speaker 1: somebody's willing to pay you for a product that is imperfect, 531 00:28:53,480 --> 00:28:55,480 Speaker 1: that to me is a is a great signal that 532 00:28:55,480 --> 00:28:58,160 Speaker 1: there's something really, really viable and big here Because if 533 00:28:58,160 --> 00:29:00,480 Speaker 1: someone who are willing to pay you for something that 534 00:29:00,000 --> 00:29:04,320 Speaker 1: that that breaks down occasionally but still provides that that 535 00:29:04,440 --> 00:29:07,040 Speaker 1: means that the need is strong there and that's a 536 00:29:07,080 --> 00:29:10,080 Speaker 1: great company to be working on the build. You know, Juel, 537 00:29:10,080 --> 00:29:12,680 Speaker 1: I gotta follow up with that response, because I know 538 00:29:12,800 --> 00:29:15,000 Speaker 1: when you build part picking the beginning, like you have 539 00:29:15,120 --> 00:29:17,680 Speaker 1: contractors working on this now and being on the other 540 00:29:17,720 --> 00:29:20,440 Speaker 1: side of the table now, like, what what are your 541 00:29:20,480 --> 00:29:24,600 Speaker 1: thoughts on technical contractors? Do you find yourself as an investor, 542 00:29:25,240 --> 00:29:28,440 Speaker 1: you know, perhaps giving preference to people who have internal teams. 543 00:29:28,440 --> 00:29:31,240 Speaker 1: And here's why I ask, It's because I do believe 544 00:29:31,320 --> 00:29:34,680 Speaker 1: also there's value to having somebody come to you who's 545 00:29:34,720 --> 00:29:38,440 Speaker 1: been able to engage smart people and sell a team 546 00:29:38,480 --> 00:29:41,360 Speaker 1: to coming along this journey with them. Right, So what 547 00:29:41,440 --> 00:29:44,239 Speaker 1: do you what are your thoughts on that? You know, 548 00:29:44,960 --> 00:29:47,200 Speaker 1: part of the answer is it kind of depends on 549 00:29:47,280 --> 00:29:51,840 Speaker 1: what they're building. If they're building something that is where 550 00:29:51,880 --> 00:29:54,320 Speaker 1: the technology is just a means to the end and 551 00:29:54,360 --> 00:29:56,920 Speaker 1: it doesn't matter so much that's not the core of 552 00:29:56,960 --> 00:29:59,840 Speaker 1: what they're doing. Then I don't think it's a bad 553 00:30:00,200 --> 00:30:04,760 Speaker 1: for people to engage teams or contractors if it's really 554 00:30:04,800 --> 00:30:08,720 Speaker 1: just a you know, part of a solution, it is 555 00:30:09,040 --> 00:30:11,040 Speaker 1: something like what we were building at Part Pick, where 556 00:30:11,080 --> 00:30:14,800 Speaker 1: the core of what we built was the technology. Then 557 00:30:14,840 --> 00:30:18,120 Speaker 1: I'm expecting the person to be able to attract that 558 00:30:18,240 --> 00:30:23,400 Speaker 1: first early core CTO or technical founder because it's it's 559 00:30:23,440 --> 00:30:26,680 Speaker 1: core to what what they're building. So that's the first 560 00:30:26,680 --> 00:30:28,719 Speaker 1: thing I think about, is what are you What are 561 00:30:28,760 --> 00:30:30,840 Speaker 1: you building? Is it something that you can pull off 562 00:30:30,880 --> 00:30:33,240 Speaker 1: the shelf, or are you trying to build a new 563 00:30:33,240 --> 00:30:37,680 Speaker 1: technology that actually needs a dedicated uh engineer, you know, 564 00:30:38,080 --> 00:30:43,000 Speaker 1: expert in house to build it. Um So that's one thing, 565 00:30:43,040 --> 00:30:45,320 Speaker 1: and then the other piece to your point, I think 566 00:30:45,800 --> 00:30:48,680 Speaker 1: that first person or a few people that you attract 567 00:30:48,760 --> 00:30:52,040 Speaker 1: that says a lot about you as a founder, and 568 00:30:52,080 --> 00:30:55,240 Speaker 1: you're gonna have doing that over and over again, attracting 569 00:30:55,680 --> 00:30:58,440 Speaker 1: folks to join your team, you know, attracting investors if 570 00:30:58,480 --> 00:31:01,400 Speaker 1: you decide to go that route, attracting customers. So I 571 00:31:01,440 --> 00:31:04,480 Speaker 1: think that that early that's an early indicator of how 572 00:31:04,600 --> 00:31:07,280 Speaker 1: good of a salesperson you are to bring people onto 573 00:31:07,320 --> 00:31:11,080 Speaker 1: the team. And yeah, so those are the two things 574 00:31:11,080 --> 00:31:14,040 Speaker 1: that I consider. Is is it crucial to the product 575 00:31:14,280 --> 00:31:18,560 Speaker 1: or to the business? And then what am I able 576 00:31:18,600 --> 00:31:20,720 Speaker 1: to learn about the founder as far as what they've 577 00:31:20,720 --> 00:31:24,160 Speaker 1: been able to attract to them? I think people can 578 00:31:24,280 --> 00:31:27,120 Speaker 1: tell a lot more about if they looked at part pick. 579 00:31:27,520 --> 00:31:30,160 Speaker 1: They can actually say, tell a lot more about the 580 00:31:30,240 --> 00:31:33,680 Speaker 1: business by looking at folks like naturally Dr nashally Sea 581 00:31:33,720 --> 00:31:36,840 Speaker 1: Fist and the fact that we had five pH d 582 00:31:36,960 --> 00:31:39,600 Speaker 1: s from Georgia Tech that we're on our team. If 583 00:31:39,680 --> 00:31:41,760 Speaker 1: they were looking they would be like, Okay, there must 584 00:31:41,800 --> 00:31:44,160 Speaker 1: be something here that all these people have decided to 585 00:31:44,600 --> 00:31:47,280 Speaker 1: spend time in this way. So that's how I think 586 00:31:47,280 --> 00:31:49,640 Speaker 1: about it. But I again to Justin's point, I do 587 00:31:49,720 --> 00:31:54,200 Speaker 1: have grace because I had to crawl through some part 588 00:31:54,280 --> 00:31:59,120 Speaker 1: time team, so I do understand in that first year, 589 00:31:59,280 --> 00:32:01,880 Speaker 1: so people trying to just figure that part out. Yeah, 590 00:32:02,280 --> 00:32:05,400 Speaker 1: you know, Bury this may be um a very general 591 00:32:05,520 --> 00:32:08,320 Speaker 1: question to very specific cases, but like as a rule 592 00:32:08,360 --> 00:32:12,479 Speaker 1: of thumb, um, what is a good answer to what 593 00:32:12,520 --> 00:32:14,120 Speaker 1: are you going to do with this capital? When I 594 00:32:14,120 --> 00:32:18,959 Speaker 1: write you a check? Oh, that's a good one. Uh uh, 595 00:32:19,040 --> 00:32:22,800 Speaker 1: there there are several good answers, um, And I think 596 00:32:22,800 --> 00:32:25,720 Speaker 1: it's really to your points of general question, right. I 597 00:32:25,720 --> 00:32:30,280 Speaker 1: think different companies need different things. From a general perspective, 598 00:32:30,840 --> 00:32:33,640 Speaker 1: I think just having a clan like even if it's 599 00:32:33,720 --> 00:32:37,480 Speaker 1: not a percent, right, like just showing me that you 600 00:32:37,720 --> 00:32:41,240 Speaker 1: literally sought through, Like I'm gonna need to hire these 601 00:32:41,400 --> 00:32:45,040 Speaker 1: four people and they're gonna cost in my region, right, 602 00:32:45,120 --> 00:32:48,680 Speaker 1: the average developer costs eighty dollars a year, and the 603 00:32:48,680 --> 00:32:51,400 Speaker 1: I'm gonna need to sales associates, they're gonna able commissioned 604 00:32:51,400 --> 00:32:53,280 Speaker 1: for this much because I can't afford to bring in 605 00:32:53,280 --> 00:32:56,080 Speaker 1: a Like the fact that you went through that exercise, 606 00:32:56,200 --> 00:32:58,680 Speaker 1: the fact that you went through into my a WS 607 00:32:58,720 --> 00:33:00,560 Speaker 1: costs are going to vote from here there to hear 608 00:33:01,000 --> 00:33:03,920 Speaker 1: and then that's to your customer, right, like the fact 609 00:33:04,000 --> 00:33:06,320 Speaker 1: that you sought through these things and you can put 610 00:33:06,520 --> 00:33:10,000 Speaker 1: in front of me and show me that your mind 611 00:33:10,000 --> 00:33:12,400 Speaker 1: in the right place. But at the same time, maybe 612 00:33:12,440 --> 00:33:15,520 Speaker 1: your first time founder, you know you're you're early in 613 00:33:15,560 --> 00:33:18,560 Speaker 1: your business that we we invest pretty early, uh you know, 614 00:33:19,040 --> 00:33:21,400 Speaker 1: post product the kind of pre profit, so we want 615 00:33:21,440 --> 00:33:23,480 Speaker 1: you to have the justice point like maybe one or 616 00:33:23,520 --> 00:33:25,520 Speaker 1: two customers, but you don't have to have a hundred 617 00:33:25,520 --> 00:33:28,320 Speaker 1: thousand dollars a month in revenue. So where we invested 618 00:33:28,480 --> 00:33:32,080 Speaker 1: early too, that's up to us as good investors to 619 00:33:32,120 --> 00:33:35,000 Speaker 1: come in and say there's something here and the way 620 00:33:35,040 --> 00:33:37,800 Speaker 1: that they just put the work in, we can polish it. 621 00:33:38,240 --> 00:33:39,840 Speaker 1: Make sure that we sit down there and say you 622 00:33:39,840 --> 00:33:42,160 Speaker 1: don't need four developers, you need seven because you forgot 623 00:33:42,200 --> 00:33:44,680 Speaker 1: about the testing team and you know, so like we 624 00:33:44,720 --> 00:33:46,760 Speaker 1: can go in and help them model it out and 625 00:33:46,840 --> 00:33:49,520 Speaker 1: polish it. But this gets back to also how you 626 00:33:49,560 --> 00:33:52,840 Speaker 1: see Greek right, because now you're coming to me and 627 00:33:53,000 --> 00:33:54,800 Speaker 1: you know this was me, right. I was the first 628 00:33:54,800 --> 00:33:57,959 Speaker 1: time founder, never been around entrepreneurs in my life, and 629 00:33:58,200 --> 00:34:00,400 Speaker 1: you know, but when I came with my dad, I 630 00:34:00,480 --> 00:34:03,000 Speaker 1: had probably too much stuff right because I was just 631 00:34:03,040 --> 00:34:04,680 Speaker 1: spending time like I probably need to know this and 632 00:34:04,680 --> 00:34:06,239 Speaker 1: I need to have this chart, I need to have 633 00:34:06,280 --> 00:34:09,000 Speaker 1: this worked out and have to do was problem ship right? 634 00:34:09,040 --> 00:34:12,040 Speaker 1: I don't know it was UM. But at the same 635 00:34:12,080 --> 00:34:15,480 Speaker 1: time I was up like the middle of the night, 636 00:34:15,600 --> 00:34:18,239 Speaker 1: tishly research and trying to figure out what I thought 637 00:34:18,280 --> 00:34:21,279 Speaker 1: I needed UM. And so I said, it's hard to 638 00:34:21,360 --> 00:34:23,520 Speaker 1: just get into specific to say I need to I 639 00:34:23,560 --> 00:34:26,840 Speaker 1: need you to say these three things. But the fact 640 00:34:26,880 --> 00:34:30,360 Speaker 1: that you have a map and you also have a 641 00:34:30,480 --> 00:34:34,399 Speaker 1: destination to show me when you give me this five 642 00:34:34,800 --> 00:34:37,360 Speaker 1: thousand dollars, I'm gonna do these things on this map, 643 00:34:37,600 --> 00:34:40,399 Speaker 1: and my destination is over here, and I'm gonna be 644 00:34:40,560 --> 00:34:42,399 Speaker 1: profitable because it's gonna get me to this and many 645 00:34:42,400 --> 00:34:44,879 Speaker 1: customers and my customers tave me this much a month. 646 00:34:46,040 --> 00:34:48,120 Speaker 1: The that's the way it man change that you get 647 00:34:48,160 --> 00:34:49,680 Speaker 1: to it. But at least we know where we're trying 648 00:34:49,760 --> 00:34:51,520 Speaker 1: to go. And it just shows me that you're a 649 00:34:51,520 --> 00:34:53,319 Speaker 1: founder that I want to work with, that I can 650 00:34:53,360 --> 00:34:55,640 Speaker 1: sit down and ideate with and get on the white 651 00:34:55,680 --> 00:34:58,840 Speaker 1: board like that's the kind of stuff that's excites me. So, Jewel, 652 00:34:59,000 --> 00:35:02,120 Speaker 1: is is it important to Bario's point that that five 653 00:35:02,200 --> 00:35:04,919 Speaker 1: hundred thousand dollars I'm gonna take in over two years, 654 00:35:04,920 --> 00:35:07,160 Speaker 1: that's gonna take me the profitability or does that five 655 00:35:07,840 --> 00:35:10,560 Speaker 1: Is it okay that five five thousand dollars takes me 656 00:35:10,600 --> 00:35:13,600 Speaker 1: to the next round of funding, because I think a 657 00:35:13,640 --> 00:35:16,000 Speaker 1: lot of entrepreneurs have that pressure, like y'all gotta check. 658 00:35:16,440 --> 00:35:19,000 Speaker 1: I have to bring a return on this round of 659 00:35:19,040 --> 00:35:23,319 Speaker 1: funding and not maybe the next round. That depends on 660 00:35:23,360 --> 00:35:27,480 Speaker 1: the investor. If you're talking to us that collab, are 661 00:35:27,560 --> 00:35:29,400 Speaker 1: going to try to make a pathway for you to 662 00:35:29,520 --> 00:35:31,680 Speaker 1: get take that five hundred thousand dollar or that first 663 00:35:31,680 --> 00:35:35,239 Speaker 1: investment and get somewhere close to profitability because that's how 664 00:35:35,280 --> 00:35:38,040 Speaker 1: our model works and that's what we actually think. We 665 00:35:38,080 --> 00:35:41,120 Speaker 1: want to build businesses that can be profitable and sustainable 666 00:35:41,440 --> 00:35:43,560 Speaker 1: so that the founders don't have to go out and 667 00:35:43,640 --> 00:35:47,360 Speaker 1: raise more capital if they don't want to. That's our model. 668 00:35:47,920 --> 00:35:50,240 Speaker 1: For a different investor, you're gonna get a different answer. 669 00:35:50,520 --> 00:35:55,040 Speaker 1: Most traditional VC investors, profitability is not a focused area 670 00:35:55,120 --> 00:35:59,279 Speaker 1: in the early first several They actually wants you to 671 00:35:59,320 --> 00:36:03,520 Speaker 1: reinvest any any profits back into the business, just go 672 00:36:03,640 --> 00:36:05,879 Speaker 1: for growth. So you really have to know who you're 673 00:36:05,880 --> 00:36:11,640 Speaker 1: talking to. Oh, as the entrepreneur is important to know 674 00:36:11,800 --> 00:36:14,360 Speaker 1: what you want. Do you want to build a profitable 675 00:36:14,440 --> 00:36:17,520 Speaker 1: business or do you want to you know, a venture scale, 676 00:36:17,600 --> 00:36:24,040 Speaker 1: venture backable business. So that's the choice, that's that's really good. 677 00:36:24,120 --> 00:36:27,640 Speaker 1: But like in the early stages, like justin like how 678 00:36:27,719 --> 00:36:31,440 Speaker 1: should I then value my company? So how do I 679 00:36:31,480 --> 00:36:34,640 Speaker 1: set the price? Like when do I know if I 680 00:36:34,880 --> 00:36:37,319 Speaker 1: should set a price or I should you know, set 681 00:36:37,320 --> 00:36:39,720 Speaker 1: a price later via a convertible note or a safe 682 00:36:39,719 --> 00:36:42,320 Speaker 1: for us, like, what's the best strategy for thinking about 683 00:36:42,560 --> 00:36:46,120 Speaker 1: how to price a company or not price it? That's 684 00:36:46,120 --> 00:36:48,880 Speaker 1: a great question, um, for for our model and for 685 00:36:48,920 --> 00:36:52,560 Speaker 1: all intents and purposes with collab Um, it's not necessary 686 00:36:52,600 --> 00:36:55,920 Speaker 1: that you price around UM to bury his points. Um, 687 00:36:55,960 --> 00:36:58,640 Speaker 1: it's important that you understand what your costs. Right, So 688 00:36:58,719 --> 00:37:01,200 Speaker 1: you have a milestone, you have your rs r KPIs 689 00:37:01,280 --> 00:37:03,320 Speaker 1: you know it's gonna take us to get from Moustone 690 00:37:03,360 --> 00:37:05,399 Speaker 1: AID and Moustone B. It's gonna take this much work, 691 00:37:05,440 --> 00:37:08,520 Speaker 1: effort and cost. Right is this much amount of this 692 00:37:08,520 --> 00:37:12,279 Speaker 1: amount of money? Those things are important. The value we 693 00:37:12,320 --> 00:37:14,840 Speaker 1: look at it differently. We we look at it again 694 00:37:14,960 --> 00:37:18,399 Speaker 1: as when you choose to collap capital pathway, you are 695 00:37:18,400 --> 00:37:22,040 Speaker 1: opting for more ownership of your business and you're looking 696 00:37:22,080 --> 00:37:24,920 Speaker 1: for to build a sustainable business that whether you get 697 00:37:24,960 --> 00:37:28,760 Speaker 1: another penny from outside investment or not. You can employ 698 00:37:28,840 --> 00:37:31,160 Speaker 1: people in your communities, you can cut yourself on a 699 00:37:31,239 --> 00:37:34,000 Speaker 1: nice salary, and you can provide for your families and 700 00:37:34,040 --> 00:37:37,440 Speaker 1: the families of your your team members. So our metrics 701 00:37:37,560 --> 00:37:41,040 Speaker 1: are measurement tool is slightly different. Now when you decide 702 00:37:41,080 --> 00:37:43,920 Speaker 1: to if you decide if you own the collap capital pathway, 703 00:37:43,960 --> 00:37:47,439 Speaker 1: and you decide that we you know, through work it's 704 00:37:47,480 --> 00:37:50,640 Speaker 1: revealed that wow, this actually is a much bigger business 705 00:37:50,719 --> 00:37:52,840 Speaker 1: or there's a bigger opportunity if we put this on 706 00:37:52,920 --> 00:37:56,719 Speaker 1: the adventure the traditional VC pathway, then what we can 707 00:37:56,719 --> 00:37:58,719 Speaker 1: do and what we will work with you on is 708 00:37:58,960 --> 00:38:01,640 Speaker 1: helping you price that round. Right, So now you've actually 709 00:38:01,760 --> 00:38:05,640 Speaker 1: increased the value because you've actually focused on building a viable, 710 00:38:05,680 --> 00:38:08,680 Speaker 1: profitable business. You don't you can take the money that 711 00:38:08,800 --> 00:38:11,000 Speaker 1: you want to take. You don't have to be pressured 712 00:38:11,440 --> 00:38:14,080 Speaker 1: um or feel that that that amount of pressure from 713 00:38:14,320 --> 00:38:17,040 Speaker 1: venture capitalists based on their terms. You actually get to 714 00:38:17,080 --> 00:38:19,800 Speaker 1: set the terms and we'll will be happy and glad 715 00:38:19,840 --> 00:38:22,040 Speaker 1: to do that with you because we've a been a 716 00:38:22,080 --> 00:38:24,520 Speaker 1: part of the business long enough to know how the 717 00:38:24,560 --> 00:38:26,680 Speaker 1: business works and where the profit is and where the 718 00:38:26,920 --> 00:38:30,759 Speaker 1: growth is. Then also those warm introductions that people talk 719 00:38:30,800 --> 00:38:33,800 Speaker 1: about so often are red hot, and it's really about 720 00:38:33,840 --> 00:38:36,080 Speaker 1: finding the best investors. They're gonna help you get to 721 00:38:36,160 --> 00:38:39,279 Speaker 1: that that mouthstone and those exits and those acquisitions that 722 00:38:39,360 --> 00:38:41,480 Speaker 1: we that we all know on the VC path you 723 00:38:41,520 --> 00:38:44,680 Speaker 1: typically would look for while still preserving a larger portion, 724 00:38:44,719 --> 00:38:48,200 Speaker 1: a much larger portion of the equity stake of the business. 725 00:38:48,360 --> 00:38:51,080 Speaker 1: So um, I hope that answers the question, but that 726 00:38:51,080 --> 00:38:54,440 Speaker 1: that is the collab answer to that question, Barry, at 727 00:38:54,480 --> 00:38:58,120 Speaker 1: what stage are you investing? And if it's pre a 728 00:38:59,120 --> 00:39:01,680 Speaker 1: can you define it? Because you know you have seed round, 729 00:39:01,719 --> 00:39:03,960 Speaker 1: you also have pre seed round and depending on who 730 00:39:04,000 --> 00:39:06,640 Speaker 1: you're talking to, like, Okay, what's the difference between the 731 00:39:06,680 --> 00:39:11,200 Speaker 1: seed and preceed Like right, so talking about that, Uh, 732 00:39:11,320 --> 00:39:13,520 Speaker 1: you can call it. And I don't know if everybody's 733 00:39:13,560 --> 00:39:17,279 Speaker 1: come up with turns like it was a seed and 734 00:39:17,320 --> 00:39:20,040 Speaker 1: then when you know, seeds got too much, like oh 735 00:39:20,120 --> 00:39:22,600 Speaker 1: we need to precede and now but now precedes are 736 00:39:22,640 --> 00:39:25,480 Speaker 1: a million dollar checks. It's all over the place. So 737 00:39:25,640 --> 00:39:27,840 Speaker 1: the way we define it as we want you to 738 00:39:27,920 --> 00:39:30,799 Speaker 1: be post products. So we want to see that you 739 00:39:30,840 --> 00:39:34,719 Speaker 1: can build something to Justine doesn't have to be the 740 00:39:34,760 --> 00:39:36,839 Speaker 1: perfect product, but we want to see that you can 741 00:39:36,920 --> 00:39:40,560 Speaker 1: deliver something. And then we would also like to see 742 00:39:40,560 --> 00:39:42,640 Speaker 1: that product in the hands of a couple of customers, 743 00:39:42,880 --> 00:39:44,880 Speaker 1: you know, we we want to see a pilot. We 744 00:39:44,960 --> 00:39:46,719 Speaker 1: want to see, you know, a couple of users on 745 00:39:46,760 --> 00:39:49,359 Speaker 1: your app, and you're getting feedback and and showing that 746 00:39:49,400 --> 00:39:52,359 Speaker 1: you can, like you, what does a couple? Because you 747 00:39:52,360 --> 00:39:55,720 Speaker 1: you listed at a couple, So my mommy used the app. 748 00:39:56,040 --> 00:39:59,120 Speaker 1: I got cousin, he used the app. I need to 749 00:39:59,120 --> 00:40:01,279 Speaker 1: know what a couple? A couple of thousand, a couple 750 00:40:01,280 --> 00:40:06,759 Speaker 1: of hundreds. Yeah, that's a legit question. Um, So we 751 00:40:06,840 --> 00:40:09,880 Speaker 1: we say, you know, like five to ten k in 752 00:40:09,880 --> 00:40:13,720 Speaker 1: in revenue, Um, will we go above that and below 753 00:40:13,760 --> 00:40:15,920 Speaker 1: that in some bills based on the bibility of the 754 00:40:15,960 --> 00:40:18,440 Speaker 1: product and the team. Maybe they're a little bit earlier, 755 00:40:18,520 --> 00:40:20,839 Speaker 1: but you know they have a fedigree. Uh, you know 756 00:40:20,880 --> 00:40:23,240 Speaker 1: we're we're an investors still, so we still we still 757 00:40:23,320 --> 00:40:25,319 Speaker 1: we will have some of that. You know, you've got 758 00:40:25,360 --> 00:40:28,040 Speaker 1: something before you're showing your success. Maybe you know you 759 00:40:28,160 --> 00:40:30,359 Speaker 1: built that confidence up an investors, So maybe we will 760 00:40:30,400 --> 00:40:33,320 Speaker 1: do it a little bit earlier. Um. And then also 761 00:40:33,560 --> 00:40:36,160 Speaker 1: is gonna be we may take something a little bit 762 00:40:36,200 --> 00:40:39,600 Speaker 1: earlier if we have a really really good growth partner 763 00:40:39,840 --> 00:40:42,200 Speaker 1: in our network that we can can take this thing 764 00:40:42,239 --> 00:40:44,400 Speaker 1: to the next level and they just need some help, 765 00:40:44,520 --> 00:40:47,399 Speaker 1: you know. So it will be some iterations, but I'll 766 00:40:47,440 --> 00:40:49,719 Speaker 1: say the majority of our investments will will be that 767 00:40:49,800 --> 00:40:52,600 Speaker 1: kind of post product. You know, you've got several thousand 768 00:40:52,640 --> 00:40:55,960 Speaker 1: dollars in early revenue and we're gonna come in get 769 00:40:56,000 --> 00:40:58,520 Speaker 1: you with some growth partners. Um, you know, get your 770 00:40:58,560 --> 00:41:01,279 Speaker 1: marketing stuff set up, help you with yourselves. Uh, it 771 00:41:01,360 --> 00:41:04,200 Speaker 1: really help you take that in a profitable manner to 772 00:41:04,320 --> 00:41:06,040 Speaker 1: you know, like that ten million are we kind of 773 00:41:06,040 --> 00:41:07,680 Speaker 1: have this target to give you one to get companies 774 00:41:07,680 --> 00:41:10,200 Speaker 1: to ten million dollars in revenue and that's how we 775 00:41:10,320 --> 00:41:12,920 Speaker 1: return our fund back to the LPs UM to get 776 00:41:12,920 --> 00:41:14,960 Speaker 1: our companies to ten million dollars in revenue with thirty 777 00:41:15,000 --> 00:41:18,520 Speaker 1: percent profitability. And so like that's the train that will 778 00:41:18,560 --> 00:41:21,280 Speaker 1: get you on once you come in at that target. 779 00:41:21,719 --> 00:41:26,160 Speaker 1: Talk to me about, UM, Atlanta, maybe the more broadly 780 00:41:26,200 --> 00:41:29,800 Speaker 1: the South, but Atlanta specifically about like the tech ecosystem 781 00:41:29,920 --> 00:41:34,239 Speaker 1: and the wrap around services that offer the opportunity for 782 00:41:34,440 --> 00:41:37,759 Speaker 1: entrepreneurs to be successful, particularly black entrepreneurs. Like what is 783 00:41:37,800 --> 00:41:41,319 Speaker 1: it about what is unique about Atlanta more generally the 784 00:41:41,360 --> 00:41:47,760 Speaker 1: South that allows us to thrive? Yeah? Man, your questions 785 00:41:47,840 --> 00:41:53,000 Speaker 1: man today is UM, I love Atlantic. You can't tell 786 00:41:53,520 --> 00:41:57,440 Speaker 1: between my hat and my shirt. Um, Atlanta is a 787 00:41:57,520 --> 00:42:01,400 Speaker 1: special place, um, and and really actually stems from obviously 788 00:42:01,400 --> 00:42:04,640 Speaker 1: the civil rights movement. UM. With Dr King, you can 789 00:42:04,640 --> 00:42:07,680 Speaker 1: also talk about the political leadership and the things that 790 00:42:07,680 --> 00:42:10,560 Speaker 1: were laid out that actually preserved and may wait for 791 00:42:10,719 --> 00:42:13,000 Speaker 1: wealth to be created amongst black people. So we look 792 00:42:13,360 --> 00:42:16,360 Speaker 1: look at the world's busiest airport, like the world's busiest 793 00:42:16,360 --> 00:42:18,960 Speaker 1: airport is half named by a black man because of 794 00:42:19,239 --> 00:42:21,640 Speaker 1: the energy and the effort and the intentionality that he 795 00:42:21,719 --> 00:42:25,799 Speaker 1: had and building a world class um airport and doing 796 00:42:25,840 --> 00:42:28,600 Speaker 1: that with black people, UM right there along the way. 797 00:42:28,880 --> 00:42:32,480 Speaker 1: And so that spirit um, it's it's still here and 798 00:42:32,520 --> 00:42:35,200 Speaker 1: it persists. And I think when you take that into 799 00:42:35,200 --> 00:42:38,520 Speaker 1: consideration and also adding the layers, right, so you're adding 800 00:42:38,719 --> 00:42:43,040 Speaker 1: great educational institutions. In Georgia tech got the called the 801 00:42:43,040 --> 00:42:46,839 Speaker 1: Honorary hpc of Georgia State. Um, you have three HPCs 802 00:42:47,320 --> 00:42:50,480 Speaker 1: UM literally right around the corner, like in downtown Atlanta. 803 00:42:50,560 --> 00:42:53,880 Speaker 1: They're not rural hpc use, these are you know, urban 804 00:42:54,360 --> 00:42:56,799 Speaker 1: you know urban hpc u s. So you have a lot, 805 00:42:56,960 --> 00:42:59,040 Speaker 1: you have all the culture and the benefits of that. 806 00:42:59,320 --> 00:43:01,480 Speaker 1: Then you start throwing and in the corporations the fortune 807 00:43:01,480 --> 00:43:04,440 Speaker 1: five hundreds UM. What that does is it creates a 808 00:43:04,560 --> 00:43:08,400 Speaker 1: really really rich network of individuals that are highly connected 809 00:43:08,600 --> 00:43:12,440 Speaker 1: and highly engaged and highly creative, and UM, when we 810 00:43:12,440 --> 00:43:15,440 Speaker 1: start talking about wrap around services, what's really great about 811 00:43:15,480 --> 00:43:18,160 Speaker 1: Atlanta is there are so many people that do so 812 00:43:18,200 --> 00:43:21,279 Speaker 1: many things, and so our job is to go and 813 00:43:21,320 --> 00:43:23,520 Speaker 1: find the best, you know, find the best to actually 814 00:43:23,560 --> 00:43:26,080 Speaker 1: help our portfolio companies. And so what the wrap around 815 00:43:26,080 --> 00:43:28,799 Speaker 1: services looks like. It looks like, you know, it looks 816 00:43:28,840 --> 00:43:31,520 Speaker 1: like having an entertainer as an advisor. It looks like 817 00:43:31,600 --> 00:43:34,920 Speaker 1: a lacree shouting your product out on on television. It 818 00:43:35,000 --> 00:43:37,600 Speaker 1: looks like you know, t I taking a meeting. It 819 00:43:37,600 --> 00:43:40,719 Speaker 1: looks like all these um what we would what some 820 00:43:40,880 --> 00:43:44,120 Speaker 1: may call like a mecca UM. But it's really about 821 00:43:44,120 --> 00:43:48,560 Speaker 1: a synergetic ecosystem that's that when made efficient right when 822 00:43:48,560 --> 00:43:51,520 Speaker 1: they're when their platforms, the the the institutions are in 823 00:43:51,520 --> 00:43:55,000 Speaker 1: place to make that network efficient, the results are literally 824 00:43:55,040 --> 00:43:57,840 Speaker 1: limitless UM. And we have access literally to the world 825 00:43:57,960 --> 00:44:00,799 Speaker 1: with the airport UM and then world class education and 826 00:44:00,880 --> 00:44:04,000 Speaker 1: world class companies that that have the capital to help 827 00:44:04,040 --> 00:44:07,160 Speaker 1: a lot of companies grow UM and increase their values. 828 00:44:08,360 --> 00:44:10,200 Speaker 1: Sprinkle a little something on there will Yeah, that was 829 00:44:10,239 --> 00:44:16,520 Speaker 1: a deeply educated answer right there, Like I'm like, go ahead, 830 00:44:16,640 --> 00:44:18,160 Speaker 1: very I want all three of you to do this 831 00:44:18,440 --> 00:44:21,160 Speaker 1: answer so um and so I mean just to hit 832 00:44:21,320 --> 00:44:24,200 Speaker 1: the big major points. But I don't think I wanted 833 00:44:24,239 --> 00:44:27,640 Speaker 1: to sprinkle. Was that the other really dope thing about 834 00:44:27,680 --> 00:44:32,160 Speaker 1: Atlanta is that people that are from Atlanta, you know, 835 00:44:32,440 --> 00:44:36,040 Speaker 1: they're very sarticular about this, but Atlanta has a lot 836 00:44:36,080 --> 00:44:39,840 Speaker 1: of transplants, right, A lot of people moved to Atlanta, 837 00:44:39,880 --> 00:44:43,440 Speaker 1: whether it's for jobs, where it's for the culture, whether whatever. 838 00:44:43,520 --> 00:44:46,920 Speaker 1: Lady moved to Atlanta for um and so what happens 839 00:44:47,040 --> 00:44:49,239 Speaker 1: is in ecosystems like it. And I think this is 840 00:44:49,320 --> 00:44:51,640 Speaker 1: kind of the big difference from like I would say, 841 00:44:51,680 --> 00:44:55,480 Speaker 1: the other coasts is that when somebody is successful in Atlanta, 842 00:44:56,200 --> 00:45:00,680 Speaker 1: there's probably another ecosystem that's benefiting, like because you made 843 00:45:00,680 --> 00:45:02,799 Speaker 1: a bunch of money here. And I know I'll let 844 00:45:03,440 --> 00:45:07,640 Speaker 1: nominated anyway because I'm talking. But with Dr Nashville Seacatis, right, 845 00:45:07,760 --> 00:45:14,080 Speaker 1: like park Pick was successful in Atlanta, she's from Jackson, Mississippi. 846 00:45:15,040 --> 00:45:18,840 Speaker 1: She's successful in Atlanta and goals and buys twelve acres 847 00:45:18,840 --> 00:45:22,839 Speaker 1: of land in Jackson, Mississippi to build her tech club 848 00:45:22,880 --> 00:45:25,840 Speaker 1: in her hometown. Still lives in Atlanta, but now you 849 00:45:25,880 --> 00:45:28,600 Speaker 1: see this root, right like, you see this reach um there. 850 00:45:28,719 --> 00:45:30,560 Speaker 1: You know there are other co founder went back to 851 00:45:30,640 --> 00:45:33,440 Speaker 1: Kansas City and he's doing work in Kansas City, right like, 852 00:45:33,840 --> 00:45:36,560 Speaker 1: So now you have this roots when things happen in Atlanta, 853 00:45:36,840 --> 00:45:39,520 Speaker 1: that they start to spread to Charlotte and you know, 854 00:45:39,640 --> 00:45:43,640 Speaker 1: down to Florida and over here to Birmingham and Nashville 855 00:45:43,719 --> 00:45:46,759 Speaker 1: and Memphis and all these places that people moved to 856 00:45:46,840 --> 00:45:49,919 Speaker 1: Atlanta to reach this success. But it doesn't just stay here. 857 00:45:50,280 --> 00:45:52,239 Speaker 1: And so that's one of the things I love about 858 00:45:52,280 --> 00:45:55,680 Speaker 1: Atlantas that the seeds here they grow and german ate 859 00:45:55,719 --> 00:46:00,680 Speaker 1: in a lot of other places as well. Jo Man, 860 00:46:00,840 --> 00:46:03,920 Speaker 1: my partners, they answer that one. But one thing I 861 00:46:03,920 --> 00:46:07,400 Speaker 1: will add is there's something this is even though I 862 00:46:07,440 --> 00:46:09,880 Speaker 1: love Atlanta and I could go on and on about 863 00:46:09,920 --> 00:46:12,880 Speaker 1: how great Atlanta is, there's something else which is a 864 00:46:12,960 --> 00:46:17,400 Speaker 1: tension right now in Atlanta where there's a fight for 865 00:46:17,480 --> 00:46:20,000 Speaker 1: the city when it comes to black leadership, when it 866 00:46:20,000 --> 00:46:24,560 Speaker 1: comes to black economic prosperity. And I think that you 867 00:46:24,640 --> 00:46:29,120 Speaker 1: have an energy around maintaining these things. And so for me, 868 00:46:29,160 --> 00:46:32,000 Speaker 1: that's what keeps me motivated and keeps me excited, is 869 00:46:32,040 --> 00:46:34,680 Speaker 1: like we have work to do here. Still there's a 870 00:46:34,680 --> 00:46:38,520 Speaker 1: lot that we have to um maintain as far as 871 00:46:38,560 --> 00:46:42,359 Speaker 1: what the foundations that Maynard Jackson set so many years ago. 872 00:46:42,640 --> 00:46:45,640 Speaker 1: There's work for this new generation, those of us who 873 00:46:45,680 --> 00:46:48,960 Speaker 1: have decided to land here. So that for me is 874 00:46:49,040 --> 00:46:52,040 Speaker 1: like the thing of Okay, we can't let the hard 875 00:46:52,040 --> 00:46:55,280 Speaker 1: work that happened and fifty years ago go to waste. 876 00:46:55,640 --> 00:46:59,680 Speaker 1: We have to make sure that we're maintaining the positions 877 00:46:59,719 --> 00:47:02,160 Speaker 1: that we have. We have to make sure that what 878 00:47:02,440 --> 00:47:04,239 Speaker 1: you know, the sad part of the city where you 879 00:47:04,280 --> 00:47:07,040 Speaker 1: do still have a huge gap as relates to the 880 00:47:07,080 --> 00:47:09,680 Speaker 1: haves and the have not, even in the black community. 881 00:47:10,160 --> 00:47:12,399 Speaker 1: There's work to be done. And so I'm excited about 882 00:47:12,400 --> 00:47:14,160 Speaker 1: the fact that we get to do that work here 883 00:47:15,200 --> 00:47:18,400 Speaker 1: in showcase what can happen when there's intentional efforts in 884 00:47:18,440 --> 00:47:21,920 Speaker 1: a city where you have leadership in these different spots. 885 00:47:22,120 --> 00:47:25,640 Speaker 1: The fact that Barry is over tech Stars social Impact 886 00:47:25,800 --> 00:47:30,600 Speaker 1: and is building companies here in Atlanta, that is not 887 00:47:30,800 --> 00:47:34,840 Speaker 1: by mistake. The fact that justin you know, founded with 888 00:47:34,920 --> 00:47:38,200 Speaker 1: Joey Willman Gooding Nation to build social impact companies here 889 00:47:38,239 --> 00:47:40,319 Speaker 1: in Atlanta is not by mistake. The fact that I 890 00:47:40,320 --> 00:47:43,120 Speaker 1: took on the role to lead Google for startups here 891 00:47:43,200 --> 00:47:46,800 Speaker 1: in Atlanta about the stake. So we're doing all these 892 00:47:46,800 --> 00:47:51,480 Speaker 1: things to really set a different path for the city, 893 00:47:51,560 --> 00:47:55,320 Speaker 1: building on what we've seen, um, you know from the past. 894 00:47:56,600 --> 00:47:58,520 Speaker 1: And Jill, I'll give you this, this final thing, and 895 00:47:58,520 --> 00:48:02,880 Speaker 1: then I'll ask um some other answer a questions to 896 00:48:02,920 --> 00:48:05,640 Speaker 1: all of you. Um. You wrote a postum a little 897 00:48:05,640 --> 00:48:08,799 Speaker 1: while ago called while I always have two jobs, um, 898 00:48:08,920 --> 00:48:11,200 Speaker 1: And there was a quote in there that I particularly 899 00:48:11,239 --> 00:48:13,560 Speaker 1: stuck out for me and said, although I was able 900 00:48:13,600 --> 00:48:15,560 Speaker 1: to make a life changing amount of money through the 901 00:48:15,560 --> 00:48:18,239 Speaker 1: sale of part pick, I've always viewed this as a 902 00:48:18,320 --> 00:48:22,399 Speaker 1: foundation of general generational wealth for my family, not as 903 00:48:22,600 --> 00:48:27,320 Speaker 1: a personal victory. Um. Can you talk about the personal 904 00:48:27,400 --> 00:48:31,799 Speaker 1: responsibility you felt too, not just ball out and go, 905 00:48:31,960 --> 00:48:34,800 Speaker 1: you know, go get the grill right, you know, the 906 00:48:34,840 --> 00:48:39,759 Speaker 1: grills on order right, but to you know, also turned 907 00:48:39,800 --> 00:48:43,680 Speaker 1: around and reinvest um that reward into your family and 908 00:48:43,760 --> 00:48:47,520 Speaker 1: to other entrepreneurs, Like how important is it that we 909 00:48:47,719 --> 00:48:51,440 Speaker 1: as black people who do something, who do reach that 910 00:48:51,480 --> 00:48:53,799 Speaker 1: finish line and get that exit and make it get 911 00:48:53,840 --> 00:48:58,560 Speaker 1: that bag, not just take it selfishly, but to keep 912 00:48:58,600 --> 00:49:00,440 Speaker 1: that not that it's not saying that you hain't do 913 00:49:00,480 --> 00:49:02,440 Speaker 1: that stuff, Go get the grill, that's what you want through. 914 00:49:03,280 --> 00:49:07,000 Speaker 1: But how important is it that we reinvest into our 915 00:49:07,000 --> 00:49:12,600 Speaker 1: communities are people? Yeah, it's critical. I I don't think 916 00:49:13,640 --> 00:49:17,239 Speaker 1: we cannot rely on anybody else to save us about ourselves. 917 00:49:17,440 --> 00:49:20,800 Speaker 1: And it's gonna take all of us who have achieved 918 00:49:20,840 --> 00:49:24,000 Speaker 1: some level of success to go back, turn around, help 919 00:49:24,080 --> 00:49:26,960 Speaker 1: somebody else out, I mean, in my opinion. And maybe 920 00:49:26,960 --> 00:49:29,000 Speaker 1: that's just the way I was wired, the way I 921 00:49:29,040 --> 00:49:33,680 Speaker 1: grew up. But it's a duty, it's a responsibility. Um. 922 00:49:33,800 --> 00:49:36,200 Speaker 1: And and also it's it's like I have the skills, 923 00:49:36,239 --> 00:49:38,120 Speaker 1: I have the knowledge, I have to give it to 924 00:49:38,160 --> 00:49:41,640 Speaker 1: somebody else. So for me, that's it's just really important. 925 00:49:41,640 --> 00:49:44,680 Speaker 1: And I would not feel right if I, you know, 926 00:49:45,120 --> 00:49:48,200 Speaker 1: retired and said, okay, doce is I made what I 927 00:49:48,239 --> 00:49:51,360 Speaker 1: need to make I'm out here. I'm out of here. Um. 928 00:49:51,360 --> 00:49:53,400 Speaker 1: It's like, no, I need to make sure that the 929 00:49:53,440 --> 00:49:56,600 Speaker 1: next person, the Tracy Pickets of the world, you know, 930 00:49:56,719 --> 00:49:59,520 Speaker 1: can do ten times what I did. I I think 931 00:49:59,600 --> 00:50:03,080 Speaker 1: that we know enough to make sure that the next 932 00:50:03,120 --> 00:50:06,080 Speaker 1: one is bigger and better. And if I can be 933 00:50:06,160 --> 00:50:09,600 Speaker 1: a facilitator of that, that to me is like everything. 934 00:50:09,640 --> 00:50:16,680 Speaker 1: Then I can go and retire with I'm gonna see 935 00:50:16,760 --> 00:50:18,759 Speaker 1: Joe pull up to the office tomorrow with a grill 936 00:50:18,840 --> 00:50:46,920 Speaker 1: one that's gonna be right. Black Tech Green Money is 937 00:50:46,920 --> 00:50:49,560 Speaker 1: a production of Black and the Fro. Tech is produced 938 00:50:49,560 --> 00:50:53,120 Speaker 1: by Morgan Dubon and meat Well Lucas, with additional production 939 00:50:53,200 --> 00:50:56,960 Speaker 1: supported by Love Beach Your Raven near Born Special thanking 940 00:50:57,000 --> 00:50:59,319 Speaker 1: to Michael Davis's Since the carsa von Yan you know, 941 00:50:59,440 --> 00:51:02,640 Speaker 1: like the wine. Yes, that's his real name. Learn more 942 00:51:02,640 --> 00:51:05,680 Speaker 1: about my guests and other Technis represent innovators at afrotech 943 00:51:05,760 --> 00:51:09,719 Speaker 1: dot com. Go get your money, peace and love