1 00:00:00,280 --> 00:00:03,320 Speaker 1: It's so interesting you talk about equity. I was watching 2 00:00:03,360 --> 00:00:06,760 Speaker 1: your live stream with with your main dupree and I 3 00:00:06,800 --> 00:00:10,040 Speaker 1: had this conversation years ago with b Cox on Brian 4 00:00:10,080 --> 00:00:14,120 Speaker 1: Michael Cox on equity, and when you mentioned stuff like that, many, 5 00:00:14,280 --> 00:00:18,480 Speaker 1: particularly unfortunately black creators, don't understand what equity is. They 6 00:00:18,480 --> 00:00:21,239 Speaker 1: want to see cash today. And so you've got like 7 00:00:21,239 --> 00:00:24,439 Speaker 1: this dual challenge of number one, explaining that why equity 8 00:00:24,480 --> 00:00:26,520 Speaker 1: is important and getting people to use the app. So 9 00:00:26,800 --> 00:00:28,440 Speaker 1: getting people to use the app is a challenge in 10 00:00:28,440 --> 00:00:30,880 Speaker 1: and of itself, but now you've got to explain why 11 00:00:31,720 --> 00:00:34,720 Speaker 1: why it's important economically. So can you talk about like 12 00:00:35,280 --> 00:00:38,640 Speaker 1: what do you hear, Isaac when you hear people say, 13 00:00:39,240 --> 00:00:41,080 Speaker 1: you know, equity, Like I don't know what that is? 14 00:00:41,159 --> 00:00:43,680 Speaker 1: You know, give me the bag, and like that's got 15 00:00:43,680 --> 00:00:47,760 Speaker 1: to like make you feel a way. 16 00:00:48,560 --> 00:00:52,920 Speaker 2: Well, like, so I think it's a learning curve. But 17 00:00:53,000 --> 00:00:56,400 Speaker 2: I also understand that when you're building businesses, and especially 18 00:00:56,400 --> 00:00:59,160 Speaker 2: maybe like the managers of people that represent these artists 19 00:00:59,240 --> 00:01:03,360 Speaker 2: or these personalities themselves, like ninety nine percent of businesses fail, 20 00:01:03,720 --> 00:01:06,000 Speaker 2: Like you know, so say you're gonna give somebody in equity, 21 00:01:06,440 --> 00:01:09,080 Speaker 2: it's not gonna mean anything of the business fails. The 22 00:01:09,240 --> 00:01:13,399 Speaker 2: uniqueness about equity and ownership and social media is the 23 00:01:13,560 --> 00:01:16,319 Speaker 2: very thing that gives social media it's value is the 24 00:01:16,360 --> 00:01:19,080 Speaker 2: ability for people to move people where you want them 25 00:01:19,080 --> 00:01:22,600 Speaker 2: to go, to increase users and grow the platform. So 26 00:01:23,240 --> 00:01:26,720 Speaker 2: for something like fan base, you're in control of your 27 00:01:26,760 --> 00:01:28,960 Speaker 2: own success. You're in the driver's seat. If you bring 28 00:01:29,000 --> 00:01:32,160 Speaker 2: a million people to fan base, fan Base's value goes 29 00:01:32,200 --> 00:01:33,760 Speaker 2: from what it is today, which is one hundred and 30 00:01:33,800 --> 00:01:37,160 Speaker 2: sixty million dollars, to it could be five hundred million dollars, 31 00:01:37,240 --> 00:01:39,560 Speaker 2: it could be eight hundred million dollars, and we could 32 00:01:39,560 --> 00:01:42,200 Speaker 2: continue to do that and even bring in more people 33 00:01:42,520 --> 00:01:45,200 Speaker 2: and offer equity. So the understanding of equity in our 34 00:01:45,240 --> 00:01:48,560 Speaker 2: community is just a lack of financial literacy that we've 35 00:01:48,600 --> 00:01:51,520 Speaker 2: always had. And so we know cash, we know what 36 00:01:51,560 --> 00:01:54,360 Speaker 2: that does. We know you know what kind of opportunity 37 00:01:54,400 --> 00:02:00,600 Speaker 2: it provides. It's immediate influx of capital that you can 38 00:02:00,640 --> 00:02:03,400 Speaker 2: decide what you want to do with in a leisurely 39 00:02:03,480 --> 00:02:06,080 Speaker 2: way or a responsible way in investing. So I understand 40 00:02:06,120 --> 00:02:09,320 Speaker 2: why cash is important to young people because you know, 41 00:02:09,600 --> 00:02:12,600 Speaker 2: it's a very it's a very materialistic society nowadays. I 42 00:02:12,600 --> 00:02:14,959 Speaker 2: mean a lot of things that people are into cars 43 00:02:15,000 --> 00:02:17,880 Speaker 2: and clothes, and you know what I'm saying, lifestyle is 44 00:02:17,880 --> 00:02:21,000 Speaker 2: a big part of that. But when you're thinking about 45 00:02:21,080 --> 00:02:23,359 Speaker 2: what life is going to be for yourself, five, ten, 46 00:02:23,480 --> 00:02:25,960 Speaker 2: fifteen years from now, you got to start thinking about 47 00:02:26,000 --> 00:02:29,440 Speaker 2: that because all of this can change in an instant, 48 00:02:29,480 --> 00:02:31,679 Speaker 2: but having ownership of something that will continue to grow 49 00:02:31,800 --> 00:02:33,799 Speaker 2: is It's something that I think more people need to 50 00:02:33,880 --> 00:02:35,959 Speaker 2: learn about. And I thought that was striking that a 51 00:02:36,000 --> 00:02:38,480 Speaker 2: lot of the white creators have equity, have been offered 52 00:02:38,520 --> 00:02:41,640 Speaker 2: equity in these companies, and a lot of black creators 53 00:02:41,680 --> 00:02:44,480 Speaker 2: have been offered cash and not equity, And that's a 54 00:02:44,520 --> 00:02:47,720 Speaker 2: big that's a big thing. Like okay, like like Academics 55 00:02:47,800 --> 00:02:52,000 Speaker 2: doesn't have equity and Rumble Constant doesn't have equity in Twitch, 56 00:02:52,400 --> 00:02:55,040 Speaker 2: but Aiden Ross has equity and kick you know what 57 00:02:55,040 --> 00:02:57,320 Speaker 2: I'm saying, Chargie Amelia has equity in the step cards. 58 00:02:57,360 --> 00:03:00,840 Speaker 2: So I'm like, oh, okay, So either you know, I'm 59 00:03:00,840 --> 00:03:02,640 Speaker 2: going to set that trend for us. But I hope 60 00:03:02,680 --> 00:03:06,520 Speaker 2: even with creators on other platforms like Twitch and Rumble 61 00:03:06,560 --> 00:03:09,160 Speaker 2: that are black, start asking for equity ownership of these 62 00:03:09,240 --> 00:03:09,959 Speaker 2: companies as well. 63 00:03:10,639 --> 00:03:14,080 Speaker 1: So it's one thing for Isaac to you know, evangelize this, 64 00:03:14,160 --> 00:03:16,160 Speaker 1: which I think is a worthy thing to do. How 65 00:03:16,600 --> 00:03:20,200 Speaker 1: has the community responded? You know, what impact does this 66 00:03:20,240 --> 00:03:23,280 Speaker 1: have on engagement when people start, when their mind changes 67 00:03:23,440 --> 00:03:24,800 Speaker 1: about you know, ownership. 68 00:03:26,840 --> 00:03:30,120 Speaker 2: Well, I think the fact that we have investors already 69 00:03:30,680 --> 00:03:33,360 Speaker 2: we've invested their equity owners in fan base. So we 70 00:03:33,400 --> 00:03:38,600 Speaker 2: have about fifteen thousand investors that have you know, invested 71 00:03:38,640 --> 00:03:41,400 Speaker 2: through fan base on start Engine. So that's awesome. So 72 00:03:41,440 --> 00:03:44,119 Speaker 2: then that's another level, right, and then there's other people. 73 00:03:44,160 --> 00:03:46,320 Speaker 2: There's celebrities that have invested in fan Base that we 74 00:03:46,400 --> 00:03:51,320 Speaker 2: keep quiet for you know, very very smart reasons. I think, 75 00:03:51,400 --> 00:03:53,120 Speaker 2: you know, I don't I don't like people to really 76 00:03:53,160 --> 00:03:55,440 Speaker 2: know about that. I want people to I want all 77 00:03:55,480 --> 00:03:58,120 Speaker 2: of us to be able to benefit from this without 78 00:03:59,400 --> 00:04:01,960 Speaker 2: the bias of how we may feel about one another 79 00:04:03,080 --> 00:04:05,560 Speaker 2: in this space, because sometimes I feel like wealth is 80 00:04:05,600 --> 00:04:07,600 Speaker 2: a competitive thing in the black community, and I much 81 00:04:07,720 --> 00:04:09,840 Speaker 2: rather a bunch of people have equity and something that 82 00:04:09,840 --> 00:04:11,360 Speaker 2: they don't know who else has equity, and then when 83 00:04:11,400 --> 00:04:13,040 Speaker 2: the time is done, everybody's rich and it's like, oh, 84 00:04:13,080 --> 00:04:14,760 Speaker 2: I didn't know you was in on that too. Yeah. Cool. 85 00:04:15,920 --> 00:04:20,800 Speaker 2: But for the younger creators, It's been tough for me 86 00:04:20,920 --> 00:04:24,480 Speaker 2: because I feel like there are some gatekeepers to those people, 87 00:04:24,800 --> 00:04:27,240 Speaker 2: and sometimes those people are managers, and managers know that 88 00:04:27,680 --> 00:04:29,720 Speaker 2: cash is better than equity for them because they might 89 00:04:29,760 --> 00:04:33,040 Speaker 2: not see a return on their percentage of equity that's 90 00:04:33,080 --> 00:04:35,640 Speaker 2: even part of their deal. So if someone says, hey, 91 00:04:36,040 --> 00:04:38,520 Speaker 2: you're gonna get a two million dollar deal, or you're 92 00:04:38,560 --> 00:04:41,960 Speaker 2: gonna get two million dollars worth of stock, they're gonna 93 00:04:41,960 --> 00:04:44,520 Speaker 2: take the two million dollars worth of money, so they 94 00:04:44,520 --> 00:04:46,640 Speaker 2: get that cash in their hand too. So I think 95 00:04:46,680 --> 00:04:49,800 Speaker 2: sometimes that also plays a role. So but all I 96 00:04:49,800 --> 00:04:52,039 Speaker 2: can do is educate. All I can do is is 97 00:04:52,080 --> 00:04:54,560 Speaker 2: continue to do that, and there are some different interested 98 00:04:54,640 --> 00:04:58,600 Speaker 2: parties that understand the value of equity. But again I'm 99 00:04:58,640 --> 00:05:01,680 Speaker 2: running into like I'm running into those roadblocks or the 100 00:05:01,680 --> 00:05:04,960 Speaker 2: gatekeepers that are like yeah, and I'm like, you know, 101 00:05:05,000 --> 00:05:06,800 Speaker 2: it's just something that I'm going to have to continue 102 00:05:06,839 --> 00:05:10,280 Speaker 2: to do. But there are things in the works that 103 00:05:10,640 --> 00:05:13,680 Speaker 2: allow people to you know, have an equity opportunity, a 104 00:05:13,680 --> 00:05:15,880 Speaker 2: fan base, and continue to grow eternally. 105 00:05:16,200 --> 00:05:19,120 Speaker 1: Before we talk about this seventeen million dollar round, I 106 00:05:19,160 --> 00:05:21,440 Speaker 1: want to talk about what crowdfunding is. I want to 107 00:05:21,440 --> 00:05:24,720 Speaker 1: make sure the audience is caught up on how this works. 108 00:05:24,800 --> 00:05:27,520 Speaker 1: And so previous two. A number of years ago, during 109 00:05:27,640 --> 00:05:31,240 Speaker 1: Obama's ere you and I couldn't get in on the 110 00:05:31,279 --> 00:05:34,520 Speaker 1: social media app investment opportunity, which is where the money's 111 00:05:34,560 --> 00:05:37,920 Speaker 1: made early. Can you talk about that era and what 112 00:05:38,000 --> 00:05:39,680 Speaker 1: it did for people like you and I? 113 00:05:41,080 --> 00:05:44,600 Speaker 2: Yeah, So from nineteen thirty three to twenty fifteen, I'm 114 00:05:44,640 --> 00:05:46,880 Speaker 2: the only way that anybody could invest in an early 115 00:05:46,920 --> 00:05:51,279 Speaker 2: stage company was being a credited investor. And your credited 116 00:05:51,279 --> 00:05:54,040 Speaker 2: investor rule was basically a rule that says only rich 117 00:05:54,120 --> 00:05:57,520 Speaker 2: people could have the best opportunity to invest in something. 118 00:05:57,560 --> 00:05:59,719 Speaker 2: So you had to have a network of a million 119 00:05:59,760 --> 00:06:04,120 Speaker 2: dollars minus your house or make two hundred thousand dollars 120 00:06:04,160 --> 00:06:07,000 Speaker 2: a year for two consecutive years. And so think about that. 121 00:06:07,000 --> 00:06:08,919 Speaker 2: That's coming out of the Great Depression. So even I 122 00:06:08,920 --> 00:06:12,120 Speaker 2: don't care what color you were, there weren't accredit investors 123 00:06:12,120 --> 00:06:14,880 Speaker 2: that were white in nineteen thirty three, so it doesn't matter. 124 00:06:14,880 --> 00:06:16,560 Speaker 2: So it's really just the rich trying to have the 125 00:06:16,560 --> 00:06:20,719 Speaker 2: best opportunity to have access to companies. So Obama and 126 00:06:20,760 --> 00:06:24,359 Speaker 2: Biden signing the Law of the Jobs Act, which wiped 127 00:06:24,360 --> 00:06:27,320 Speaker 2: out the accredited investor roles, so anybody can invest in 128 00:06:27,360 --> 00:06:31,240 Speaker 2: a company that's looking to raise capital regards to their network, 129 00:06:31,279 --> 00:06:33,479 Speaker 2: their annual income. So that opens up the door for 130 00:06:33,560 --> 00:06:36,520 Speaker 2: all these equity crowdfunding sites to pop up, one of 131 00:06:36,560 --> 00:06:38,880 Speaker 2: which is start Engine, which I was able to use 132 00:06:38,880 --> 00:06:41,800 Speaker 2: to raise capital. So I think, and especially in the 133 00:06:41,800 --> 00:06:44,920 Speaker 2: black community, when access to capital is so limited, especially 134 00:06:44,960 --> 00:06:47,600 Speaker 2: in tech. I think in twenty twenty three, less than 135 00:06:47,640 --> 00:06:49,720 Speaker 2: half of a percent of all VC dollars with the 136 00:06:49,760 --> 00:06:53,760 Speaker 2: black founders, which is crazy. And you know, banks aren't 137 00:06:53,800 --> 00:06:56,280 Speaker 2: necessarily giving loans, and there can be a lot of 138 00:06:57,160 --> 00:07:00,120 Speaker 2: a bias and racial discrimination when it comes to that. 139 00:07:00,640 --> 00:07:03,760 Speaker 2: So the opportunity for you and I to fund each 140 00:07:03,800 --> 00:07:06,039 Speaker 2: other's businesses and have equity in them at the same 141 00:07:06,080 --> 00:07:09,240 Speaker 2: time raised capital changes the game. And so that's why 142 00:07:09,240 --> 00:07:12,239 Speaker 2: I've been such a big advocate of equity crowdfunding because 143 00:07:13,600 --> 00:07:16,160 Speaker 2: as much as I've money that I've raised in fan Base, 144 00:07:16,200 --> 00:07:19,600 Speaker 2: I'm also invested in other people's companies that I've introduced 145 00:07:20,040 --> 00:07:23,280 Speaker 2: the start Engine to do the same thing, and they're 146 00:07:23,320 --> 00:07:26,680 Speaker 2: in all different sectors. There's you know, a brewery, a 147 00:07:26,720 --> 00:07:31,640 Speaker 2: bread company, software companies, things like that. So another app 148 00:07:31,720 --> 00:07:33,120 Speaker 2: so I want to be able to make sure that 149 00:07:33,200 --> 00:07:35,000 Speaker 2: I can invest in these startups the same way and 150 00:07:35,040 --> 00:07:37,040 Speaker 2: then AC point people in the direction that they can 151 00:07:37,080 --> 00:07:40,240 Speaker 2: actually raise capital, because it's kind of the information that's 152 00:07:40,280 --> 00:07:45,120 Speaker 2: not known. Actually had a chance to run into a 153 00:07:45,160 --> 00:07:47,760 Speaker 2: woman that I met when I went to this event 154 00:07:47,760 --> 00:07:49,960 Speaker 2: where where vice president Harris was the other day, and 155 00:07:49,960 --> 00:07:51,200 Speaker 2: she walked up me and she goes, I'm about to 156 00:07:51,240 --> 00:07:53,480 Speaker 2: raise five million dollars on Start Engine. And the only 157 00:07:53,480 --> 00:07:55,280 Speaker 2: reason I'm doing this because I saw what you did. 158 00:07:55,760 --> 00:07:57,520 Speaker 2: And I talked to the CEO, Howard Marks, and I said, 159 00:07:57,760 --> 00:07:59,960 Speaker 2: I'm here because Isaac Hayes came over here and raised 160 00:08:00,160 --> 00:08:01,440 Speaker 2: and I want to do it like that. And that's 161 00:08:01,480 --> 00:08:04,720 Speaker 2: the reason why, because this is a whole opportunity for 162 00:08:04,840 --> 00:08:07,600 Speaker 2: so many people that don't know how to raise capital 163 00:08:07,600 --> 00:08:09,440 Speaker 2: for their businesses. Now, what I will say is it's 164 00:08:09,480 --> 00:08:13,239 Speaker 2: not easy because you do have to have your business together. 165 00:08:13,280 --> 00:08:14,760 Speaker 2: It's not like you can just go to Start Engine 166 00:08:14,800 --> 00:08:17,240 Speaker 2: and be like, I'm gonna raise some money. I think 167 00:08:17,760 --> 00:08:19,960 Speaker 2: for me, even going through that process as a founder, 168 00:08:20,440 --> 00:08:22,280 Speaker 2: it made me a better founder because I had to 169 00:08:22,360 --> 00:08:24,840 Speaker 2: learn fan base from so many different directions, from the 170 00:08:24,840 --> 00:08:28,200 Speaker 2: financial side to the legal side and stock structure compliance 171 00:08:28,280 --> 00:08:32,000 Speaker 2: and everything about my business. And so it made me 172 00:08:32,040 --> 00:08:35,120 Speaker 2: a better founder and educated me in ways about my 173 00:08:35,200 --> 00:08:36,760 Speaker 2: business that I would not have known if I would 174 00:08:36,800 --> 00:08:38,839 Speaker 2: have just got VC dollars and trusted what these people 175 00:08:38,840 --> 00:08:41,880 Speaker 2: were saying. So that's what I encourage everybody to do, 176 00:08:41,960 --> 00:08:44,400 Speaker 2: is to force yourself to learn more about your business 177 00:08:44,920 --> 00:08:48,120 Speaker 2: through equity crowdfunding. Investigate egor count funding and learn about it. 178 00:08:48,200 --> 00:08:50,720 Speaker 2: Understand the Jobs Act and what you're able to do, 179 00:08:51,120 --> 00:08:52,360 Speaker 2: and then take advantage of it. 180 00:08:53,200 --> 00:08:56,360 Speaker 1: So most of the people who will be investing are 181 00:08:56,400 --> 00:08:59,400 Speaker 1: not sophisticated investors and not only not derogatory it, I 182 00:08:59,400 --> 00:09:02,560 Speaker 1: mean educated and have a history of doing it. And 183 00:09:02,600 --> 00:09:05,400 Speaker 1: so what happens. So I give you you know, or 184 00:09:05,400 --> 00:09:08,080 Speaker 1: I shouldn't. I shouldn't I give you I invest one 185 00:09:08,160 --> 00:09:10,600 Speaker 1: hundred and fifty dollars two hundred three hundred dollars into 186 00:09:10,600 --> 00:09:15,360 Speaker 1: fan base. What happens next, Well, let me let me 187 00:09:15,400 --> 00:09:19,400 Speaker 1: dispel that. Let me let me combat that statement. 188 00:09:19,960 --> 00:09:23,439 Speaker 2: But equity crowdfunding first came on the scene, DC's were 189 00:09:23,559 --> 00:09:26,480 Speaker 2: very critical of it because they said, oh, you know, 190 00:09:26,800 --> 00:09:30,480 Speaker 2: these investors are not savvy investors, they're not educated, you know, 191 00:09:30,559 --> 00:09:32,640 Speaker 2: they don't know, they're not making the right decisions, and 192 00:09:32,640 --> 00:09:34,920 Speaker 2: we don't want them to invest their hard earned dollars 193 00:09:34,920 --> 00:09:37,800 Speaker 2: into some sort of business that will never succeed. But 194 00:09:38,440 --> 00:09:41,280 Speaker 2: it is no problem for any of those same individuals 195 00:09:41,320 --> 00:09:44,480 Speaker 2: to go to Vegas and gamble five thousand dollars or 196 00:09:44,679 --> 00:09:46,839 Speaker 2: by five thousand dollars with the lottery trickuts to try 197 00:09:46,880 --> 00:09:50,840 Speaker 2: to win the Mega Millions or Powerball. That's one aspect. Secondly, 198 00:09:51,400 --> 00:09:54,520 Speaker 2: what's further disproving this is and the time that I've 199 00:09:54,840 --> 00:09:58,559 Speaker 2: raised capital for fan Base, there have been multiple startups 200 00:09:58,559 --> 00:10:02,960 Speaker 2: that have been founded and funded by venture capitalists, given 201 00:10:03,080 --> 00:10:06,080 Speaker 2: more money than fan Base to start their business and 202 00:10:06,120 --> 00:10:09,960 Speaker 2: failed in faster time. So you don't know anymore than 203 00:10:10,000 --> 00:10:12,480 Speaker 2: the public does. Because you put thirty five million dollars 204 00:10:12,480 --> 00:10:14,040 Speaker 2: into this startup and they went out of business in 205 00:10:14,080 --> 00:10:16,280 Speaker 2: eighteen months. I don't want to hear that from y'all. 206 00:10:16,280 --> 00:10:18,920 Speaker 2: You put eleven million dollars into this startup. The VCS, 207 00:10:18,960 --> 00:10:22,240 Speaker 2: you vetted the company, you saw the business plan, you 208 00:10:22,280 --> 00:10:24,559 Speaker 2: saw the business model, and you put eleven million, thirty 209 00:10:24,559 --> 00:10:27,839 Speaker 2: five million, twenty million, and they failed. And fan Base 210 00:10:27,880 --> 00:10:30,440 Speaker 2: is back by a community of people that have put 211 00:10:30,559 --> 00:10:33,600 Speaker 2: their hard earned money, but not two hundred and fifty 212 00:10:33,600 --> 00:10:36,560 Speaker 2: three hundred thousand dollars four hundred dollars five hundred dollars 213 00:10:36,600 --> 00:10:39,080 Speaker 2: into the community and they have equity on the cap table. So, 214 00:10:39,120 --> 00:10:41,920 Speaker 2: first of all, I don't like the fact that vcs 215 00:10:42,160 --> 00:10:43,960 Speaker 2: are saying that because that was just a way for 216 00:10:44,040 --> 00:10:45,920 Speaker 2: them to kind of make sure that they did not 217 00:10:46,000 --> 00:10:48,680 Speaker 2: lose opportunities to be able to invest in a company 218 00:10:48,760 --> 00:10:52,480 Speaker 2: like fan base and get a better deal and sometimes 219 00:10:52,480 --> 00:10:55,400 Speaker 2: even a predatory type situation was what some of these 220 00:10:55,640 --> 00:10:58,959 Speaker 2: these these vcs come in and do when they invest 221 00:10:59,000 --> 00:11:01,920 Speaker 2: in your company to do so. So for me, I 222 00:11:01,960 --> 00:11:05,439 Speaker 2: just wanted to dispel that when someone invests in Fanise, 223 00:11:05,520 --> 00:11:08,200 Speaker 2: you get equity, you sit on the cap table of 224 00:11:08,280 --> 00:11:11,640 Speaker 2: a pre IPO company. So this is no different as 225 00:11:11,679 --> 00:11:17,880 Speaker 2: if you were investing into Facebook, TikTok, Instagram, Uber Lift, 226 00:11:18,200 --> 00:11:21,120 Speaker 2: like any of these major you know, tech companies that 227 00:11:21,160 --> 00:11:23,400 Speaker 2: you are the difference the only the only difference is 228 00:11:23,600 --> 00:11:26,560 Speaker 2: that you're allowed to sit on the cap table. Pre 229 00:11:26,679 --> 00:11:30,520 Speaker 2: IPO as opposed to typically retail investors are people that 230 00:11:30,559 --> 00:11:33,120 Speaker 2: get access to buy stock after the company's gone public. 231 00:11:33,360 --> 00:11:35,200 Speaker 2: I mean it's way after everybody else has made all 232 00:11:35,200 --> 00:11:38,480 Speaker 2: the real money, the real big you know, multiples of 233 00:11:39,200 --> 00:11:42,120 Speaker 2: capital that have been raised as opposed to like like 234 00:11:42,520 --> 00:11:44,880 Speaker 2: uber was. Uber raised half a million dollars in their 235 00:11:44,920 --> 00:11:47,440 Speaker 2: seed round and one of the one of the investors 236 00:11:47,480 --> 00:11:49,960 Speaker 2: who was already a multimillionaire, put five grand and then 237 00:11:49,960 --> 00:11:52,600 Speaker 2: turned it into twenty four million in nine years. So 238 00:11:52,920 --> 00:11:55,280 Speaker 2: you see that right there. Those are the types of 239 00:11:55,320 --> 00:11:57,640 Speaker 2: opportunities that happen where you can say, oh, I'm on 240 00:11:57,679 --> 00:11:59,920 Speaker 2: the cap table of a unicorn before it goes pub 241 00:12:00,800 --> 00:12:04,679 Speaker 2: and so that's a pre IPO equity position on the 242 00:12:04,760 --> 00:12:07,480 Speaker 2: cap table of a company that you're able to do. 243 00:12:07,559 --> 00:12:09,520 Speaker 2: So that's what it is. And I think that that's 244 00:12:09,559 --> 00:12:14,079 Speaker 2: significantly important, and that it's educational, it's prideful, it's powerful, 245 00:12:14,920 --> 00:12:17,800 Speaker 2: and especially for black culture. In the space of social 246 00:12:17,840 --> 00:12:19,640 Speaker 2: media again I talk, I stay in my lane. I'm 247 00:12:19,640 --> 00:12:22,559 Speaker 2: talking about social media and tech. I think it's extremely 248 00:12:22,600 --> 00:12:25,720 Speaker 2: phenomenal because as a user, you have the ability to 249 00:12:25,720 --> 00:12:27,920 Speaker 2: actually increase the value of assets your own by simply 250 00:12:28,000 --> 00:12:31,319 Speaker 2: using it. And even some investors in fan base have 251 00:12:31,360 --> 00:12:33,640 Speaker 2: actually made the money that they've invested in fan base 252 00:12:33,679 --> 00:12:36,280 Speaker 2: by using fan base to monetize their content. So you 253 00:12:36,600 --> 00:12:39,000 Speaker 2: can't you can't even have anything bad to say about that, Like, 254 00:12:39,240 --> 00:12:40,920 Speaker 2: I put two and fifty dollars in fan base, but 255 00:12:40,960 --> 00:12:43,120 Speaker 2: I made two hundred fifty dollars monetizing my content in 256 00:12:43,240 --> 00:12:47,160 Speaker 2: fan base. And so that's that's the significance of being 257 00:12:47,200 --> 00:12:48,720 Speaker 2: able to sit on the cap table of a pre 258 00:12:48,800 --> 00:12:49,640 Speaker 2: IPO company