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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will be fined nearly

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Speaker 1: one thousand dollars a day, imprisoned, and deported. You will

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Speaker 1: never return. But if you register using our CBP home

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Speaker 1: app and leave now, you could be allowed to return legally.

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Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,

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Speaker 1: border and families will be protected.

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Speaker 2: Sponsored by the United States Department of Homeland Security.

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Speaker 3: My graduates from my school being forced back drop drop drop.

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Speaker 4: Drop.

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Speaker 5: All right, guys, welcome back, e y l. We are

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Speaker 5: in our Atlanta headquarters. Yes, yes, yes, So this is

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Speaker 5: episode that is going to be extremely educator. I already

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Speaker 5: know off the rip. So we talk about funding a business.

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Speaker 5: A lot of times people hear about like venture capital

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Speaker 5: or they know, like you know, just liquidate the money

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Speaker 5: that they have. But equity crowdfunding is something that we

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Speaker 5: spoke about a while ago. Shout out to Mike Brown.

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Speaker 5: He think it was the first person on our platform.

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Speaker 5: He was on a perspective of actually raising money, so

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Speaker 5: he came in, he spoke about equity crowdfunding. But it

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Speaker 5: hasn't been something that we really have touched on. So Pierre, Yeah,

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Speaker 5: the l person sorry, yeah, so actually came to our

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Speaker 5: event in La, right, so he has an interesting stories

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Speaker 5: from La originally but then was a ten year veteran

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Speaker 5: of Wall Street or the Wall Street for ten years

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Speaker 5: as a banker and now actually has a startup company

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Speaker 5: called Seat at the Table where it's a black owned,

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Speaker 5: a black owned equity crowdfunding platform similar to like Republic

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Speaker 5: or something like that, right where now you can actually

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Speaker 5: go on the platform and a if you're a business,

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Speaker 5: you can be listed, and if you're an investor, you

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Speaker 5: can look for opportunities to invest in the business. Because

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Speaker 5: that's something a lot of people always talking about like, well,

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Speaker 5: how can I find these deals to invest in early

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Speaker 5: if I'm not you know, So that's what the equity crowdfunding.

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Speaker 5: So we'll explain what equity crowdfunding is your platform, all

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Speaker 5: of that stuff. But this is extremely important episode for

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Speaker 5: a business owners but also from investors as well to

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Speaker 5: be educated on how to invest in startup company. So

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Speaker 5: this is going to be dope. Shots to my man

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Speaker 5: lu Tucker for putting this together.

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Speaker 4: The last Lewis, He's going by Lewis now.

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Speaker 5: And first and foremost, thank you for joining us.

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Speaker 4: Appreciate it. We said, La, but specifically Compton.

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Speaker 6: Yeah, well since we Compton, Long bea chairs my dad

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Speaker 6: is from Compton.

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Speaker 4: We wanted we got to make that I want I

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Speaker 4: want the Polly eyes.

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Speaker 6: So like when you're from LA, like the delineating factors,

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Speaker 6: where'd you go to high school? Like really like dudes,

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Speaker 6: like you said, like where'd you go to the Poly High?

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Speaker 6: I'm like a long beach kid, thro and through. As

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Speaker 6: you mentioned, I was in New York for for ten years.

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Speaker 6: I was a banker at Goldman. As we talked about,

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Speaker 6: I never got rid of my California I d uh, yeah, man,

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Speaker 6: it's just kind of like ears of the Streets always

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Speaker 6: tapped in, which has kept me grounded. But it was

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Speaker 6: definitely frustrating in New York working on Wall Street, just

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Speaker 6: in terms of like fit perspective.

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Speaker 4: But we can talk about that.

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Speaker 5: Let's talk about that now, let's get into it. So

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Speaker 5: all right, so coming from from a Long Beach and

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Speaker 5: that's a long way from Wall Street. Yeah, so how'd

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Speaker 5: you make your way from from California? And he was

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Speaker 5: working at Goldman Sachs right, correct, What was your exactly?

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Speaker 6: Yeah, So I think I think what's important life, man,

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Speaker 6: is like when you hear about these stories like what

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Speaker 6: can be replicated, people tell you like, oh, I did

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Speaker 6: this all that, So you're like, let me know how

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Speaker 6: you started, so I can know if it's like attainable

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Speaker 6: to me. So I went to public on the Polly

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Speaker 6: High four thousand kids on MLK to kind of give

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Speaker 6: you perspective, right right next.

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Speaker 4: To the poly apartment.

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Speaker 6: It's like projects at the time, went to Long Beach

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Speaker 6: State undergrad public school. I went to University of Virginia

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Speaker 6: for business school, right, and so got an MBA. So

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Speaker 6: that allowed me to pivot to banking. But before that, man,

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Speaker 6: when I was an undergrad. I was a social science major.

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Speaker 6: I wanted to be a I was a psychology anthropology major.

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Speaker 6: I wanted to get a PhD in psychology, like health

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Speaker 6: the community.

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Speaker 4: And I was like my first job out of undergrad.

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Speaker 6: Actually, so when I went to business school, that's when

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Speaker 6: I found out about banking, investment banking, and you know,

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Speaker 6: on the West Coast, banking isn't dig at all. It's like,

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Speaker 6: I know, entertainment and so forth. Had a bank account

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Speaker 6: at a regular bank. But like you know, even today,

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Speaker 6: my parents still don't understand what bank is, my sister.

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Speaker 6: But to answer your question, I managed money when I

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Speaker 6: was in when I was in New York, so I

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Speaker 6: worked at Goldman. I was in their investment management division.

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Speaker 6: So I managed money for individuals, you know, ballplayers, people

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Speaker 6: that prayed note pass and made thirty forty million dollars

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Speaker 6: wealth management, wealth management and then foundations as well. So

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Speaker 6: you know, it's a very and so that the minimum

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Speaker 6: at that time. This is back from like eight twenty

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Speaker 6: nineteen because things have changed. The firm was like a

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Speaker 6: twenty million dollar liquid though so not real estate, right

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Speaker 6: when you think about people that I have twenty million

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Speaker 6: dollars of liquid capital. They walk a very different form

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Speaker 6: of life, right, So my job was to get to

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Speaker 6: know them, build relationships, but actually to really manage their

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Speaker 6: I was their guy. It was like I was reporting

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Speaker 6: to somebody else.

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Speaker 4: Like so my firm.

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Speaker 6: My first account was he was a Frenchman. He's probably

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Speaker 6: that I was. I'm not French. She thought I was

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Speaker 6: friends who thought about this, you know, the last thing

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Speaker 6: may have but shout today's out there. But nonetheless he

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Speaker 6: thought I was French. But he was a founder of

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Speaker 6: a publicly traded company.

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Speaker 4: Ex.

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Speaker 6: McKenzie guy like real cerebral. He would call it a

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Speaker 6: desk bro and he would literally say it's Pierre there.

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Speaker 6: It wasn't like any of the older white dudes was

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Speaker 6: like this Pierre. So I was this guy was trading

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Speaker 6: de rivert this form, managing markets and so in that

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Speaker 6: seat though, it allowed me to see so much deal

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Speaker 6: flow and from a context perspective. You know, at that time,

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Speaker 6: in my group there were about four hundred of US advisors.

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Speaker 6: They're probably about fifteen black advisors. I was one or

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Speaker 6: two in New York. But I was very much I

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Speaker 6: was more so street facing, right like I was you know,

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Speaker 6: I kind of knew everybody.

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Speaker 4: It was being helpful to everybody.

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Speaker 6: So when there was when it came to like having

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Speaker 6: a relationship at Goldman, it was like Pierre was one

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Speaker 6: of the first guys you would reach out to, even

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Speaker 6: if it wasn't a fit, just to be a resource.

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Speaker 4: So you know, it was.

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Speaker 6: It was a great experience to that extent in terms

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Speaker 6: of being a resource for the people, but in terms

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Speaker 6: of managing money for a profile that was drastically different

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Speaker 6: than mine, Like that was I wasn't going I wasn't

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Speaker 6: going to the Hampton's one.

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Speaker 4: I didn't roll crew. Yeah, like you know, it's very different.

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Speaker 2: So like when you said fit, that's automatically thinking right,

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Speaker 2: Like you have a salary with your managing millions and

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Speaker 2: billions of dollars, so like going to work on a

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Speaker 2: daily basis, Like what's that like? Because a lot of

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Speaker 2: us have never even seen that type of money and

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Speaker 2: I had to manage it, So what's that life?

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Speaker 6: So when I got the gig, I had to literally

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Speaker 6: describe it to my home and my friends like, yo,

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Speaker 6: it's like the equivalent getting drafted by the Lakers, because

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Speaker 6: dudes don't really get like they didn't really get it right,

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Speaker 6: Like all the people that like are b school, like

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Speaker 6: all the book smart dudes, like they get it. Like

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Speaker 6: all you work at moment one of the best firms

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Speaker 6: at the time, Like I got to say, like it's like,

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Speaker 6: you know, getting drafted by a Lakers.

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Speaker 4: So for me, I was just happy to be there. Also,

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Speaker 4: the challenge was.

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Speaker 6: Like, especially within our community, like I don't want to

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Speaker 6: I don't want to mess things up, right, It's like

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Speaker 6: you kind of like keep your head down. You're not

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Speaker 6: really loud and vocal. So it was more of a

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Speaker 6: surreal feeling being there. I would say one of the

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Speaker 6: benefits though, is that although it was frustrating, I saw

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Speaker 6: so much deal flow, Like I'm like, so now when

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Speaker 6: you think about it, literally talking to somebody that makes

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Speaker 6: like notepads and so their business for thirty million dollars,

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Speaker 6: like I can make a notepad, right, So, like you

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Speaker 6: see so many ideas and how people have accumulated wealth

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Speaker 6: and are are are creating businesses and transacting on those businesses.

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Speaker 6: But then you also learn the derby in terms of

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Speaker 6: like how they're actually starting their businesses right, in terms

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Speaker 6: of like where did they start from? Did you kind

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Speaker 6: of building from ground up or did somebody cut you

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Speaker 6: that check? You know, they give you the first million

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Speaker 6: dollars so you can scale. So it was definitely an

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Speaker 6: eye opening experience for sure. So you said, working on

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Speaker 6: Wall Street seeing deal.

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Speaker 5: Flow, you saw that the black house black companies weren't

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Speaker 5: being funded.

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Speaker 6: Yeah, yeah, so yeah, So my friend network man literally

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Speaker 6: is like older black man from like fifty to seventy

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Speaker 6: and like a bunch of my young boys and obviously

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Speaker 6: our peers, our age group. And the reason why I

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Speaker 6: bring that up is that when I was in New York,

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Speaker 6: like I used to work with a bunch of like

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Speaker 6: senior partners at law firm because I was always giving them,

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Speaker 6: like a firm reach out to me.

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Speaker 4: It's like, hey, I'm doing seven million dollars on revenue.

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Speaker 6: Came home at IPO me and it was like, now

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Speaker 6: you finally need like two zeros behind you. But I

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Speaker 6: can introduce you to a middle market banker, or I

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Speaker 6: can introduce you to you know, an attorney, right they

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Speaker 6: can like actually structure the deal. So I was always

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Speaker 6: given out opportunities that weren't necessarily a fit for the firm.

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Speaker 6: And you know, when you think about the minimums in

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Speaker 6: terms of transacting, and they were looking at deal on

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Speaker 6: a hundred million dollar companies, right, and like we don't

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Speaker 6: work not in.

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Speaker 4: That space yet.

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Speaker 6: Minimum yeah, yeah, because they got to get their fees

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Speaker 6: in terms of like the investments.

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Speaker 4: Right.

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Speaker 6: So my group is always about trading on information, like

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Speaker 6: literally positioning people to get deals done. So the goal

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Speaker 6: is you help them sell their business and then when

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Speaker 6: they sell their business, they bring the money back to

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Speaker 6: you and you manage it. But I saw so many businesses, man,

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Speaker 6: that are out there. They're doing you know, three to

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Speaker 6: five million dollars that cauldn't get funding from a bull

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Speaker 6: back investment bank, let alone funding from some of the

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Speaker 6: other resources or other like pipe our other access points

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Speaker 6: of capital. We'll love to talk to you guys about that.

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Speaker 6: What that looks like from entrepreneurs respective.

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Speaker 2: So in terms of funding, right, we got golden up here,

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Speaker 2: one hundred millions to the minimum.

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Speaker 4: But what's that mid rate?

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Speaker 2: It did like a number a scale that that like

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Speaker 2: wealth managers use that like if it's ten million, it

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Speaker 2: has to be this level.

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Speaker 4: Bank it's fifty million, so it's this level.

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Speaker 6: Yeah, So let me let me differentiate it too, so

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Speaker 6: to having your assets managed. At the time, it was

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Speaker 6: like twenty million dollars a liquid network, right. But then

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Speaker 6: when you think about a business that may not even

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Speaker 6: be liquid yet that wants to sell their business. They

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Speaker 6: want to sell that NOTEPAC company for three hundred million dollars,

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Speaker 6: it has to be at least one hundred million dollars transaction, right, So,

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Speaker 6: like that's the difference between the two. So one is

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Speaker 6: getting your assets managed and the other is when you

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Speaker 6: when you're trying to engage an investment bank of that

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Speaker 6: caliber to do the deal.

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Speaker 4: It has to be worth a certain amount, it has

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Speaker 4: to be worth their time.

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Speaker 6: But there are tons of middle what's called middle market bankers, right,

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Speaker 6: So the middle market bankers are typically you know, regional

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Speaker 6: smaller banks still notable, Maan, I think there's like excellence everywhere, right,

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Speaker 6: you don't got to be at a certain firm.

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Speaker 4: I think there's like brilliance.

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Speaker 6: Everywhere, but nonetheless they're situated where they can take on

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Speaker 6: those size deals. But yeah, but there's just like in

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Speaker 6: the equal you got to see more deals than I

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Speaker 6: do now. But right, like in the eCos, like there's

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Speaker 6: so many interesting companies out there that are looking for

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Speaker 6: access to capital, and it's been a challenge, right and

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Speaker 6: for a number of varying reasons we can dig into,

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Speaker 6: but that when I worked in that capacity, it was

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Speaker 6: more so like I have a company that's worth a

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Speaker 6: hundred million.

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Speaker 4: Helped me sell it? If you help me sell it

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Speaker 4: or your firm sells and not bring you the asset.

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Speaker 5: So all right, so talk about let's get into equity

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Speaker 5: crowdfunding conversation. What made you want to start set at

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Speaker 5: the table?

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Speaker 6: Yeah, man, it's I think I caught the interview with

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Speaker 6: the brother's name was Mike.

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Speaker 4: I think I caught the interview. Like, yeah, I think

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Speaker 4: I caught that interview.

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Speaker 7: Mat.

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Speaker 4: It's like I was randomly in a.

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Speaker 6: Starbucks and I was just frustrated because like I would

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Speaker 6: always when whatever I get it, whenever I would get

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Speaker 6: a deal, I would reach out to my network of

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Speaker 6: angel investors, wealthy individuals.

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Speaker 4: It's a small handful.

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Speaker 6: Why, it's not a lot of us, And I'm sure

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Speaker 6: they got tired of receiving They appreciated the call, but

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Speaker 6: you know, we all get tired of being hit up

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Speaker 6: at the same time. So I spent a year working

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Speaker 6: at a commercial bank, so it was different about like

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Speaker 6: commercial banking, thinking about like a Bank of America where

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Speaker 6: you have your deposits or whatever. Right, I worked at

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Speaker 6: a commercial bank on the West Coast, Like, well, I'm

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Speaker 6: working at the small regional commercial bank. Now I can

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Speaker 6: really extend capital and help people get loans and so forth.

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Speaker 4: And I realized how hard it was in that space, right,

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Speaker 4: So I was watching it. So I was at Starbucks.

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Speaker 4: I was frustrated.

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Speaker 6: I was watching like YouTube videos, and like randomly, equity

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Speaker 6: crowdfunding poppeduble I knew nothing about it. I've never even

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Speaker 6: invested in equity crowdfunding portal before that. We all, I mean,

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Speaker 6: most of our community knows about gofund me and kickstarted

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Speaker 6: for varying reasons, right, but equity clowd funding was different

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Speaker 6: at the time. So I saw like this episode from

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Speaker 6: this other one of the competing portals, and I was like, oh,

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Speaker 6: this is interesting, and I points like raised capital at

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Speaker 6: lower dollar amounts right where everybody the community can participate.

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Speaker 6: There are tons of research, and I quickly realized that

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Speaker 6: there was no portals that was intentionally focused on black

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Speaker 6: and brown entrepreneurs. Right, So the name is called it's

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Speaker 6: called Seed at the Table and it's a play of

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Speaker 6: having a seat at the table or a lack thereof, right,

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Speaker 6: so we don't often have a seat at the table.

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Speaker 4: For guil flow.

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Speaker 6: So gather the group of my friends who call family

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Speaker 6: with the process of getting approved by the SEC and FENRA.

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Speaker 6: So like all the portals are listed, they're approved. It's

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Speaker 6: like equivalent to explain with FINRA's yeah, thank you, because

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Speaker 6: sometimes you get caught up ye wait yeah. So FINRA

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Speaker 6: is the regulatory agency, right, So like any investment bank

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Speaker 6: that is our chartered bank has to deal with the

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Speaker 6: regular So the SEC is the Securities Exchange Commission. FINRA

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Speaker 6: was an additional regulator. And what they do is they're

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Speaker 6: making sure that everything is in proper place, right, so documentation, auditing,

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Speaker 6: when companies come to the portal, we have a process

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Speaker 6: in place and run diligence and so forth. So seat

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Speaker 6: at the table. The team we meet with fineral on

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Speaker 6: an annual basis. They're they're monitoring everything on a monthly basis,

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Speaker 6: you know, whether it's media, whether it's it's what we

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Speaker 6: put on the website, whatever the case they need. But

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Speaker 6: they're they're there to ensure the safety of the public.

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Speaker 6: Right to make sure that, because what they don't want

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Speaker 6: is like anybody just to pop up and create an

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Speaker 6: equity crowdfunding portal and start aggregating dollars, right and not

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Speaker 6: be uh, you know, good stewards of capital.

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Speaker 4: So that's what they do. So they basically regulate the process.

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Speaker 5: Can you talk about what equity crowdfunding is for people

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Speaker 5: that might not understand?

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Speaker 4: Sure?

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Speaker 6: So I mentioned uh, Kickstart and go Homeie. Those are

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Speaker 6: donation based crowdfunding sites. And actually, you know what I

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Speaker 6: should mention fun Black Founders is another donation I've got

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Speaker 6: to start thinking about us, right, I continue to think

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Speaker 6: about fund Black Founders is another donation based crowdfunding site.

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Speaker 6: And what they do is that they'll donate. An investor

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Speaker 6: can donate, us as a community can donate to the

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Speaker 6: companies that we like.

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Speaker 4: And when you donate, you may.

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Speaker 6: Get some swag or like a T shirt, right, just

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Speaker 6: like some kind of like perks.

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Speaker 4: Right.

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Speaker 6: But with equity crowdfunding, you literally own a piece of

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Speaker 6: the businesses that you're investing in.

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Speaker 4: Right. So so it's when President Obama was in office,

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Speaker 4: he signed what's called the Jobs Act. Jobs Act took

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Speaker 4: many different forms.

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Speaker 6: One of the benefits was it allowed for non accredited

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Speaker 6: investors now describe a credit versus not non a credit

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Speaker 6: investors to be able to invest in businesses. So historically,

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Speaker 6: when you think about you always hear people talk about

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Speaker 6: VC like I want to give mention capital access, private

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Speaker 6: equity access. Historically that was the only available to wealthy individuals,

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Speaker 6: so people that made two hundred thousand dollars or more, right,

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Speaker 6: or they had a household income of three hundred thousand

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Speaker 6: dollars or they have assets of a million dollars, right,

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Speaker 6: So you would hear these crazy stories like oh, I

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Speaker 6: invested in Uber ten years ago for five thousand dollars

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Speaker 6: and now I'm worth fifty million. But the reason why

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Speaker 6: you were able to do that because you were an

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Speaker 6: a credit investor. I'm sure I can start a five

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Speaker 6: thousand dollars among many of my friends right to have

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Speaker 6: that opportunity. But when President Obama signed the Jobs Act,

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Speaker 6: it allowed for non credit investors, so people that make

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Speaker 6: less than that amount to literally invest in the companies

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Speaker 6: that they consume, the products that the consumer as well.

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Speaker 4: So equity crowdfunding is more broadly.

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Speaker 6: Is the ability to invest in companies that lower dollar

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Speaker 6: amount too, So you can come to the portal see

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Speaker 6: at the table. You can invest in a company for

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Speaker 6: a little as one hundred dollars per investment. Two hundred

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Speaker 6: fifty dollars per investment are one thousand dollars per investment,

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Speaker 6: which is different from the old world when you have

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Speaker 6: to cut a twenty five thousand dollars check to be

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Speaker 6: invested in one particular company. So now as investors, whether

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Speaker 6: creditor or non accredited, you can actually spread those chips around, right,

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Speaker 6: It's like that's the cool part about it too. It's

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Speaker 6: like now you get to diversify your venture capital portfolio

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Speaker 6: and you really do have the opportunity to be an

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Speaker 6: investor early stage investor in early stage companies and experienced

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Speaker 6: that growth as well.

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Speaker 2: So when you are non incredited is there it's still

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Speaker 2: a limit amount of assets.

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Speaker 4: So fin or sec is on it.

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Speaker 6: So typically like ten percent of of your income or

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Speaker 6: your net worth. Right, So like when you go to

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Speaker 6: sea at the table, there are a couple of questions

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Speaker 6: and they'll ask you, like what's your networth? Have you

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Speaker 6: invested in equity crowd funding in the past? Because you

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Speaker 6: are capped, they tracked that information as well. It's such

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Speaker 6: a new space equity crowd funding. So last year companies

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Speaker 6: can raise up to a million dollars. This year you

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Speaker 6: can raise up to five million. But what's consistent about

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Speaker 6: the space is that the regulators are trying to protect

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Speaker 6: the investors right.

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Speaker 4: And it may feel heavy candid at times because you do.

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Speaker 2: It all without breaking a sweat, and you do it

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00:16:11,360 --> 00:16:13,760
Speaker 2: all in style, from being a boss exec to getting

393
00:16:13,800 --> 00:16:17,520
Speaker 2: the kids ready for school, checking homework, family dinners, lunches

394
00:16:17,520 --> 00:16:19,960
Speaker 2: and brunches with your day ones, trips to the salon,

395
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Speaker 2: and we can getaways at anything but a getaway. That's

396
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399
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400
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00:17:00,200 --> 00:17:01,240
Speaker 4: Like why don't want to be limited?

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Speaker 6: I want to invest all my bread in this particular startup,

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Speaker 6: but they want to make sure when you think about

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Speaker 6: venture capital that this is my just recommendation that you

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Speaker 6: only invest what you can afford to lose and not

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Speaker 6: really be bothered or are constantly focused on right. And

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Speaker 6: so you know, there's a lot of intentionality in terms

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Speaker 6: of like the disclaimers that you have to check, the

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Speaker 6: education that you have to check with navigating the website

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Speaker 6: to make sure that you're not going above your means

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Speaker 6: in terms of investing in that quek crowd.

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Speaker 5: Fund, because like venture capital, what we've been learning is

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Speaker 5: that most of the time it's not going to work

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Speaker 5: out at all. Like if you invest in ten deals,

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Speaker 5: nine might not go anywhere, but the one that does

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Speaker 5: work out that can make up for all of the

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Speaker 5: ones that don't work out within even more so.

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Speaker 4: So.

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Speaker 6: So you know, my day to day I work with

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Speaker 6: venture capital firms and like due diligence and like look

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Speaker 6: at help them evaluate the comings that they're getting ready

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Speaker 6: to invest in. But that's the VC model, right, So

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Speaker 6: like they get they raised they have a fifty million,

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Speaker 6: one hundred million million dollar fund and they literally are

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Speaker 6: making a million dollar investments across one hundred names whatever

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Speaker 6: the math works, and they're spreading their chips and they

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Speaker 6: just want one investment or hopefully, you know, whatever the

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Speaker 6: case can be, to be like one hundred x return.

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Speaker 6: They know that the majority of those investments aren't going

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Speaker 6: to turn out to anything, but all you need is

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Speaker 6: want to be one hundred x. So you know, what

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Speaker 6: you just described is the VC approach, where you know,

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Speaker 6: day to day investors should take the same approach where

440
00:18:18,320 --> 00:18:20,639
Speaker 6: it's like, all right, you have ten thousand dollars that

441
00:18:20,640 --> 00:18:22,440
Speaker 6: you want to invest. You could invest in one company,

442
00:18:22,640 --> 00:18:24,320
Speaker 6: but in terms of like ease of mind, why not

443
00:18:24,359 --> 00:18:26,840
Speaker 6: invest in a thousand dollars across the table, right, and

444
00:18:26,880 --> 00:18:28,679
Speaker 6: like in the hope that one hits. And obviously, like

445
00:18:28,680 --> 00:18:30,680
Speaker 6: at a twenty x or thex i'll set the math

446
00:18:31,119 --> 00:18:32,199
Speaker 6: just got a bad ten percent.

447
00:18:32,400 --> 00:18:32,640
Speaker 4: Yeah.

448
00:18:33,160 --> 00:18:35,119
Speaker 5: So, like as far as for people to have an understanding,

449
00:18:35,119 --> 00:18:37,359
Speaker 5: like when they're actually invested in equity crowdfund, can you

450
00:18:37,400 --> 00:18:39,520
Speaker 5: talk about like a safe note.

451
00:18:39,640 --> 00:18:42,960
Speaker 6: Or like yeah, so I think so there's there are

452
00:18:42,960 --> 00:18:46,159
Speaker 6: two audiences, right, So there's the investors that come to

453
00:18:46,160 --> 00:18:48,840
Speaker 6: the portal that want to invest in startup ideas, right

454
00:18:48,880 --> 00:18:52,040
Speaker 6: when you come to our portals, primarily diverse, unpacked entrepreneurs.

455
00:18:52,200 --> 00:18:54,680
Speaker 6: And then there are the entrepreneurs themselves that are trying

456
00:18:54,720 --> 00:18:57,760
Speaker 6: to raise capital. So what you were just describing is

457
00:18:57,760 --> 00:19:00,840
Speaker 6: a vehicle a safe note. It's a vehicle to race cap.

458
00:19:00,920 --> 00:19:02,480
Speaker 6: So you can do a safe note, you can do

459
00:19:02,480 --> 00:19:04,119
Speaker 6: a revenue note, you can do it. You can do

460
00:19:04,280 --> 00:19:06,880
Speaker 6: we're talking about equity. You can also do loans as well. Right,

461
00:19:06,960 --> 00:19:10,840
Speaker 6: So as a business owner, i own XYZ company, what

462
00:19:10,880 --> 00:19:12,359
Speaker 6: I'll do is I'll say I'm going to raise a

463
00:19:12,400 --> 00:19:13,080
Speaker 6: million dollars.

464
00:19:13,160 --> 00:19:15,240
Speaker 4: It's going to be in the form of a safe note.

465
00:19:15,840 --> 00:19:17,520
Speaker 6: So it's basically, I forgot what the S is for,

466
00:19:17,640 --> 00:19:20,080
Speaker 6: but it's up for agreement for future equity, right, And

467
00:19:20,119 --> 00:19:22,240
Speaker 6: so it's a document that says, hey, you invested.

468
00:19:21,960 --> 00:19:22,879
Speaker 4: Ten thousand dollars.

469
00:19:22,960 --> 00:19:26,800
Speaker 6: Right, it's all contracted up and you know what's important

470
00:19:26,840 --> 00:19:29,000
Speaker 6: on a safe note. This document you can go to

471
00:19:29,119 --> 00:19:31,840
Speaker 6: y combinator dot com. They have them available for companies

472
00:19:31,840 --> 00:19:35,880
Speaker 6: that are thinking about issuing THEBLE. It outlines the specifics

473
00:19:35,920 --> 00:19:39,720
Speaker 6: of the investment the company is worth ten million dollars.

474
00:19:39,760 --> 00:19:41,600
Speaker 6: That's often considered a valuation cap.

475
00:19:41,760 --> 00:19:41,960
Speaker 4: Right.

476
00:19:42,280 --> 00:19:46,200
Speaker 6: It has a conversion trigger a million dollars, right, and

477
00:19:46,400 --> 00:19:48,359
Speaker 6: then has what's a conversion yep, and it has your

478
00:19:48,359 --> 00:19:52,920
Speaker 6: investment ou so a ten million dollar company, right, evaluation cap,

479
00:19:53,040 --> 00:19:55,280
Speaker 6: you invest ten thousand dollars, right, or you invest one

480
00:19:55,320 --> 00:19:55,960
Speaker 6: hundred thousand dollars.

481
00:19:56,000 --> 00:19:57,159
Speaker 4: Right, I'm a ten million dollar company.

482
00:19:57,359 --> 00:19:59,439
Speaker 6: What you'll do is you'll take your investment amount and

483
00:19:59,480 --> 00:20:02,600
Speaker 6: you'll do buy by the valuation cap, and that's your ownership.

484
00:20:03,040 --> 00:20:03,240
Speaker 4: Right.

485
00:20:03,280 --> 00:20:05,440
Speaker 6: So it's you know, it's that one hundred thousand dollars

486
00:20:05,520 --> 00:20:07,399
Speaker 6: to buy to buy ten million. That's so much of

487
00:20:07,480 --> 00:20:10,000
Speaker 6: the company that you own. But you're not on what's

488
00:20:10,000 --> 00:20:12,480
Speaker 6: considered to be the cap table, Like you're not listed

489
00:20:12,520 --> 00:20:15,480
Speaker 6: as an owner until it actually converts into real equit.

490
00:20:15,760 --> 00:20:18,159
Speaker 6: You just have this document that the safe note that

491
00:20:18,320 --> 00:20:21,920
Speaker 6: entitles you to equity. So the conversion trigger is you

492
00:20:22,119 --> 00:20:24,480
Speaker 6: you're just a paper holder until I do my next

493
00:20:24,560 --> 00:20:26,560
Speaker 6: round of funding, right, and it has to be a

494
00:20:26,600 --> 00:20:28,720
Speaker 6: million dollars or more because your trigger was a million dollars.

495
00:20:29,000 --> 00:20:31,000
Speaker 6: So once you do a next raise, or maybe you

496
00:20:31,040 --> 00:20:32,920
Speaker 6: get bought out, or maybe somebody comes in and invest

497
00:20:32,960 --> 00:20:35,840
Speaker 6: three million dollars. That's when you convert to equity. But

498
00:20:35,920 --> 00:20:38,000
Speaker 6: what ends up happening is when somebody comes in they say,

499
00:20:38,000 --> 00:20:40,359
Speaker 6: you know what, I'm going to give you five million

500
00:20:40,440 --> 00:20:43,639
Speaker 6: dollars for We'll say ten percent of your business, right,

501
00:20:43,720 --> 00:20:44,920
Speaker 6: So that means that you're worth you know, if you

502
00:20:44,960 --> 00:20:46,679
Speaker 6: can't think of fifty million dollars or whatever, it's going

503
00:20:46,720 --> 00:20:50,359
Speaker 6: to be right. Your math is still divided by the

504
00:20:50,480 --> 00:20:52,919
Speaker 6: ten million dollar valuation cap. You're not diluted. So what

505
00:20:52,960 --> 00:20:56,040
Speaker 6: the safe note does is just really outlines within what's

506
00:20:56,040 --> 00:20:57,080
Speaker 6: inteled in the investment.

507
00:20:57,240 --> 00:20:57,400
Speaker 4: Right.

508
00:20:57,800 --> 00:21:00,560
Speaker 6: Sometimes when people raise capital, they literally let you come

509
00:21:00,560 --> 00:21:02,919
Speaker 6: in and be on the cap table, right, and you

510
00:21:02,960 --> 00:21:05,080
Speaker 6: are like from day one, an equity owner.

511
00:21:06,119 --> 00:21:08,479
Speaker 4: What's hard about kind of cap table management.

512
00:21:08,480 --> 00:21:10,480
Speaker 6: It's a very expensive process because you have to get

513
00:21:10,480 --> 00:21:11,440
Speaker 6: evaluation on it.

514
00:21:11,720 --> 00:21:11,880
Speaker 4: Right.

515
00:21:11,960 --> 00:21:14,680
Speaker 6: So when many startups are starting their business, they don't

516
00:21:14,680 --> 00:21:16,840
Speaker 6: want to pay forty fifty k to get the business

517
00:21:16,880 --> 00:21:18,800
Speaker 6: our thirty k. Howe you work the math to get

518
00:21:18,800 --> 00:21:21,640
Speaker 6: the business value. They rather extend these safe notes, which

519
00:21:21,680 --> 00:21:23,720
Speaker 6: allow me to say, hey, I'm able to raise capital.

520
00:21:23,840 --> 00:21:26,320
Speaker 6: It's a contract between you and I that says you're

521
00:21:26,440 --> 00:21:29,520
Speaker 6: entitled to the x amount of dollars of exposure right

522
00:21:29,680 --> 00:21:32,200
Speaker 6: cap because you have that evaluation cap. But it's something

523
00:21:32,200 --> 00:21:34,840
Speaker 6: that just documents the process. So there are other ways

524
00:21:34,880 --> 00:21:38,240
Speaker 6: to document it. But safe notes are fairly popular. We

525
00:21:38,640 --> 00:21:41,560
Speaker 6: see the table. We don't endorse one vehicle over the other.

526
00:21:41,720 --> 00:21:43,520
Speaker 6: But when you think about, like in the early VC

527
00:21:43,600 --> 00:21:46,680
Speaker 6: stage Eschal, when you're trying to minimize startup costs or

528
00:21:46,760 --> 00:21:50,720
Speaker 6: minimize legal costs, and safe notes play one a.

529
00:21:50,640 --> 00:21:53,640
Speaker 4: Revenue note, right, are just a debt note.

530
00:21:53,680 --> 00:21:56,600
Speaker 6: So what's interesting to me in the space is that

531
00:21:57,119 --> 00:21:58,560
Speaker 6: so when you think about your business, right, you can

532
00:21:58,560 --> 00:21:59,840
Speaker 6: go to you can try to go to the bank.

533
00:22:00,119 --> 00:22:01,600
Speaker 6: I want to talk about that process. You can try

534
00:22:01,600 --> 00:22:03,800
Speaker 6: to go hit a bag and get a loan and

535
00:22:03,840 --> 00:22:05,520
Speaker 6: they'll give you their terms or whatever the case and be.

536
00:22:05,520 --> 00:22:07,520
Speaker 6: They'll look at your financials for two years and want

537
00:22:07,520 --> 00:22:09,320
Speaker 6: to make sure that you have reoccurring revenue and so forth,

538
00:22:09,920 --> 00:22:11,439
Speaker 6: and they'll give you a standard loan. You're going to

539
00:22:11,480 --> 00:22:14,080
Speaker 6: borrow a million dollars and you're going to pay ten

540
00:22:14,119 --> 00:22:14,760
Speaker 6: percent interest.

541
00:22:14,880 --> 00:22:17,240
Speaker 4: Right So, and you guys know this better than I do.

542
00:22:17,440 --> 00:22:20,400
Speaker 6: Like, as as a debt holder, you are constantly worried

543
00:22:20,440 --> 00:22:22,760
Speaker 6: about paying that the monthly payment or whatever whatever the

544
00:22:22,800 --> 00:22:25,200
Speaker 6: payment may be on that ten percent. Right, with a

545
00:22:25,240 --> 00:22:28,439
Speaker 6: revenue note, you can often structure the repayment based on

546
00:22:28,480 --> 00:22:31,120
Speaker 6: the revenue that you make. So as opposed to saying like, hey,

547
00:22:31,200 --> 00:22:33,840
Speaker 6: every year, I'm paying one hundred thousand dollars ten percent

548
00:22:33,840 --> 00:22:36,560
Speaker 6: on a million dollar loan, I'm only paying, what I'm

549
00:22:36,560 --> 00:22:38,240
Speaker 6: going to do is I'm going to take twenty five

550
00:22:38,280 --> 00:22:42,119
Speaker 6: percent of my you know, yearly revenue, right, and I'm

551
00:22:42,160 --> 00:22:43,640
Speaker 6: going to allocate that twenty five.

552
00:22:43,440 --> 00:22:45,720
Speaker 4: Percent to paying down the debt. Right.

553
00:22:45,760 --> 00:22:48,040
Speaker 6: And so for entrepreneurs that are just getting started that

554
00:22:48,119 --> 00:22:50,320
Speaker 6: are cast strapped, it's like, all right, when money didn't

555
00:22:50,320 --> 00:22:51,560
Speaker 6: come in, I still got to pay the bank. That's

556
00:22:51,600 --> 00:22:54,040
Speaker 6: ten percent. It alleviates that burden where it's like you're

557
00:22:54,119 --> 00:22:56,720
Speaker 6: only paying based when based on the amount of revenue

558
00:22:56,840 --> 00:22:59,000
Speaker 6: that you've accumulated for that year or that month. So

559
00:22:59,040 --> 00:23:01,320
Speaker 6: what the revenue note does it once again and documents

560
00:23:01,400 --> 00:23:04,360
Speaker 6: the process, but it allows the entrepreneur to pay back

561
00:23:04,359 --> 00:23:06,679
Speaker 6: capital based on their revenue as opposed to like the

562
00:23:06,760 --> 00:23:08,840
Speaker 6: monthly are the time frame perspective of it.

563
00:23:09,040 --> 00:23:12,560
Speaker 2: You said something about evaluations and process and how expensive

564
00:23:12,560 --> 00:23:12,879
Speaker 2: that is.

565
00:23:13,040 --> 00:23:15,840
Speaker 4: We've spoken about evaluating before in terms.

566
00:23:15,600 --> 00:23:18,479
Speaker 2: Of how profitable it could be if your company has

567
00:23:18,520 --> 00:23:21,320
Speaker 2: all these things in terms of how they'll be evaluated.

568
00:23:20,840 --> 00:23:23,640
Speaker 4: But what's the actual process, Like, yeah, I think it's

569
00:23:23,640 --> 00:23:24,399
Speaker 4: I think it's worthwhile.

570
00:23:24,400 --> 00:23:26,840
Speaker 6: I managed to talk about like the entrepreneurs process and

571
00:23:26,840 --> 00:23:28,520
Speaker 6: turns the game to access to capital because.

572
00:23:28,320 --> 00:23:31,480
Speaker 4: It's hard man, Like, it's it's I think you know.

573
00:23:31,520 --> 00:23:34,280
Speaker 6: We are encouraging entrepreneurship, and I will continue encourage entreprenship

574
00:23:34,320 --> 00:23:36,040
Speaker 6: entrepreneurship for the people that it works out for.

575
00:23:36,119 --> 00:23:37,720
Speaker 4: But there are four main verticals.

576
00:23:38,440 --> 00:23:41,359
Speaker 6: One is we exhaust our own savings form one case,

577
00:23:41,400 --> 00:23:42,920
Speaker 6: credit cards, balance sheees, and so forth.

578
00:23:43,000 --> 00:23:43,240
Speaker 4: Right.

579
00:23:43,720 --> 00:23:45,919
Speaker 6: Two is that if you are fortunate to have like

580
00:23:45,960 --> 00:23:48,560
Speaker 6: a robust friends and family network of wealthy individuals, you'll

581
00:23:48,560 --> 00:23:50,560
Speaker 6: tap your friends and say, hey, I'm doing this friends

582
00:23:50,600 --> 00:23:52,600
Speaker 6: and family around. We're doing it via a safe note.

583
00:23:53,040 --> 00:23:55,000
Speaker 6: We'd like to raise one hundred thousand dollars.

584
00:23:55,080 --> 00:23:55,240
Speaker 4: Right.

585
00:23:55,520 --> 00:23:57,680
Speaker 6: Third is that you go to a bank and you're like, hey,

586
00:23:57,800 --> 00:24:00,720
Speaker 6: I have this business that's revenue generating or not, that's

587
00:24:00,760 --> 00:24:03,440
Speaker 6: profitable or not the things like that's great, but there's

588
00:24:03,440 --> 00:24:06,119
Speaker 6: no recourse, there's no assets to serve as collateral, like

589
00:24:06,160 --> 00:24:08,119
Speaker 6: if the loan were to fall apart, how does the

590
00:24:08,119 --> 00:24:09,000
Speaker 6: bank get paid back?

591
00:24:09,080 --> 00:24:10,560
Speaker 4: Right, So it's a very frustrating process.

592
00:24:10,560 --> 00:24:13,680
Speaker 6: They want to see like two years of income statements, right,

593
00:24:13,720 --> 00:24:16,359
Speaker 6: And like with any instance that they can bank, you'll say, okay,

594
00:24:16,640 --> 00:24:18,680
Speaker 6: well you can put your house up as a former recourse,

595
00:24:18,720 --> 00:24:20,679
Speaker 6: and we still need a second signature as well as well.

596
00:24:20,880 --> 00:24:23,520
Speaker 6: So like access from a banking a traditional banking perspective

597
00:24:23,560 --> 00:24:26,119
Speaker 6: is very challenging. And then fourth is venture capital and

598
00:24:26,160 --> 00:24:28,920
Speaker 6: so with VC we talk about it often, but it's

599
00:24:28,920 --> 00:24:31,200
Speaker 6: hard for anybody to get VC capital, and it's particularly

600
00:24:31,200 --> 00:24:33,920
Speaker 6: hard for black and brown entrepreneurs to get it. And

601
00:24:34,200 --> 00:24:36,359
Speaker 6: in all fairness, the VC community is my clients. I

602
00:24:36,359 --> 00:24:38,479
Speaker 6: work with them on a day to day basis. What

603
00:24:38,520 --> 00:24:40,800
Speaker 6: they're often saying is that, you know, not just like

604
00:24:40,840 --> 00:24:43,439
Speaker 6: it's not a fit. What they're realizing more importantly is

605
00:24:43,440 --> 00:24:47,280
Speaker 6: that we as a community rush the venture capital too quickly, right,

606
00:24:47,280 --> 00:24:48,840
Speaker 6: because once you what ends up happening, it's like I

607
00:24:48,840 --> 00:24:51,520
Speaker 6: have a business. You know, money is going out, no

608
00:24:51,600 --> 00:24:54,280
Speaker 6: money is coming in. I tapped all my sayings, you know,

609
00:24:54,400 --> 00:24:55,640
Speaker 6: kind of with the friends of family around. I can't

610
00:24:55,640 --> 00:24:57,040
Speaker 6: get a loan from a bank. I hear that VC

611
00:24:57,160 --> 00:24:59,400
Speaker 6: is cutting checks, right, like, how do I go about

612
00:24:59,400 --> 00:25:00,919
Speaker 6: getting that money? And so, but you still have an

613
00:25:00,960 --> 00:25:03,600
Speaker 6: established product market fit yet you still haven't got your

614
00:25:03,600 --> 00:25:06,000
Speaker 6: business up and running yet. So we don't necessarily have

615
00:25:06,040 --> 00:25:09,159
Speaker 6: the luxury of operating in the red, right, whereas my

616
00:25:09,320 --> 00:25:12,600
Speaker 6: majority counterparts they can be down for a year or

617
00:25:12,640 --> 00:25:14,719
Speaker 6: two years and they can still operate because somebody's going

618
00:25:14,720 --> 00:25:17,159
Speaker 6: to inject capital. But to your question about the process

619
00:25:17,160 --> 00:25:20,200
Speaker 6: of beginning, you know, valuation or just like that how

620
00:25:20,359 --> 00:25:23,440
Speaker 6: arduous like documenting stuff is right, So we think about

621
00:25:23,480 --> 00:25:26,119
Speaker 6: the restaurant owner, bar owner, or the you know, the

622
00:25:26,119 --> 00:25:29,240
Speaker 6: widget manufacturer. You know, they're operating their business, but when

623
00:25:29,240 --> 00:25:30,760
Speaker 6: they're trying to raise capital, they got to get their

624
00:25:30,760 --> 00:25:34,640
Speaker 6: paperwork documented. So obviously, you know formation in terms of

625
00:25:35,040 --> 00:25:36,879
Speaker 6: the type of company it is, there has to be

626
00:25:36,880 --> 00:25:38,160
Speaker 6: an audit that takes place.

627
00:25:38,200 --> 00:25:39,240
Speaker 4: In equity crowdfunding.

628
00:25:39,960 --> 00:25:42,160
Speaker 6: If you raise zero to two hundred and fifty thousand dollars,

629
00:25:42,200 --> 00:25:44,160
Speaker 6: it can be self reported financial so like, hey, I'm

630
00:25:44,160 --> 00:25:46,280
Speaker 6: the CEO, this is my income statement, this is my

631
00:25:46,320 --> 00:25:48,600
Speaker 6: balance sheet, and so forth. When it's two fifty to

632
00:25:48,640 --> 00:25:51,240
Speaker 6: a million, it has to be CPA reviews. So you

633
00:25:51,280 --> 00:25:53,000
Speaker 6: have to pay a CPA to review it over the

634
00:25:53,080 --> 00:25:55,680
Speaker 6: last two years. If it's a million to five million,

635
00:25:55,720 --> 00:25:59,280
Speaker 6: it's a full CPA audit, Right, So to your point,

636
00:25:59,320 --> 00:26:01,480
Speaker 6: like what's the process, Like what is it about the

637
00:26:01,480 --> 00:26:04,280
Speaker 6: cpaud It can be very expensive, right, somebody's going to

638
00:26:04,359 --> 00:26:06,919
Speaker 6: charge you twenty thousand dollars fifteen thousand dollars just to

639
00:26:06,960 --> 00:26:11,119
Speaker 6: evaluate your business and to really get an understanding of

640
00:26:11,160 --> 00:26:12,720
Speaker 6: the financials of the business so you can submit it

641
00:26:12,720 --> 00:26:14,959
Speaker 6: to the SEC. So if you're raising a million dollars

642
00:26:15,280 --> 00:26:17,680
Speaker 6: and maybe you're not even revenue generating yet, and I'm

643
00:26:17,680 --> 00:26:19,680
Speaker 6: saying like, hey, and what are to raise that million dollars?

644
00:26:19,880 --> 00:26:21,399
Speaker 6: You got to do a CPA audit. That's going to

645
00:26:21,440 --> 00:26:23,960
Speaker 6: cost you twenty k. You got to create your safe

646
00:26:24,000 --> 00:26:26,679
Speaker 6: note with an attorney, which we advise. Right, that's going

647
00:26:26,760 --> 00:26:29,359
Speaker 6: to cost you another fifteen to twenty k.

648
00:26:29,840 --> 00:26:32,080
Speaker 4: Right, and then there are some other you know, ancillary costs.

649
00:26:32,080 --> 00:26:34,679
Speaker 6: Well, it's a very expensive process in addition to the

650
00:26:34,760 --> 00:26:37,560
Speaker 6: fees that any equity cloud funding portal will charge.

651
00:26:37,320 --> 00:26:40,240
Speaker 4: You for providing space to facilitate that transaction.

652
00:26:40,520 --> 00:26:43,280
Speaker 6: Right, So you know you may raise and this is

653
00:26:43,320 --> 00:26:46,120
Speaker 6: like getting talked about the legislation how expensive it is

654
00:26:46,440 --> 00:26:48,760
Speaker 6: for folks in general to raise capital, especially for you know,

655
00:26:48,920 --> 00:26:51,760
Speaker 6: startup companies and diverse entrepreneurs, Like we just don't have

656
00:26:51,800 --> 00:26:54,520
Speaker 6: the cash available. Like we're in this process as we

657
00:26:54,520 --> 00:26:57,119
Speaker 6: as an entrepreneur, we're in this process to get access

658
00:26:57,119 --> 00:26:58,600
Speaker 6: to capital. But now in order to get it, I

659
00:26:58,600 --> 00:27:01,199
Speaker 6: got to pay out so much, so much. And in

660
00:27:01,240 --> 00:27:03,560
Speaker 6: all fairness though, you know, when you go to a bank,

661
00:27:03,600 --> 00:27:05,159
Speaker 6: that's what they want to see. They want to see statements,

662
00:27:05,200 --> 00:27:07,240
Speaker 6: they want to see your inventory, right, they want to

663
00:27:07,280 --> 00:27:10,159
Speaker 6: make sure that your affairs are in order. Although with

664
00:27:10,240 --> 00:27:14,720
Speaker 6: equity crowdfunding it's just as rigid and like the diligence.

665
00:27:14,320 --> 00:27:16,760
Speaker 4: Process is the same. But at the same.

666
00:27:16,600 --> 00:27:20,679
Speaker 6: Time that we are not asked particular about who we

667
00:27:20,720 --> 00:27:23,080
Speaker 6: allow them to access capital, right because once again we're

668
00:27:23,119 --> 00:27:25,920
Speaker 6: just a platform that allows individuals to raise from their network.

669
00:27:26,000 --> 00:27:27,359
Speaker 4: So and that's one thing we didn't talk about.

670
00:27:27,560 --> 00:27:29,439
Speaker 6: It's like the beauty of equity crowdfunding is that it

671
00:27:29,480 --> 00:27:33,399
Speaker 6: allows you to monetize your customer base your followers as well. Right,

672
00:27:33,440 --> 00:27:35,720
Speaker 6: if you're a popular person and you have a business

673
00:27:36,080 --> 00:27:38,040
Speaker 6: or an idea, it's like, yeah, you can go to

674
00:27:38,119 --> 00:27:39,560
Speaker 6: a bank or try to go VC, because that's what

675
00:27:39,600 --> 00:27:40,680
Speaker 6: we're talking to people, like why not.

676
00:27:40,720 --> 00:27:41,480
Speaker 4: Start at home?

677
00:27:41,640 --> 00:27:44,280
Speaker 6: And like, now you know, many black folks haven't been

678
00:27:44,280 --> 00:27:46,320
Speaker 6: in a position where we can literally call that wealthy.

679
00:27:46,400 --> 00:27:47,920
Speaker 6: I don't have a wealthy uncle, right, But it's like

680
00:27:47,920 --> 00:27:49,960
Speaker 6: you don't necessarily call that wealthy all, like call your

681
00:27:49,960 --> 00:27:52,480
Speaker 6: friends as opposed to doing a three hundred dollars dinner

682
00:27:52,560 --> 00:27:53,560
Speaker 6: for a person, like have.

683
00:27:53,560 --> 00:27:55,600
Speaker 4: Them investing in your company, right, And then.

684
00:27:55,800 --> 00:27:58,439
Speaker 6: What's also beautiful about it, beyond actually raising the capital,

685
00:27:58,520 --> 00:28:00,080
Speaker 6: is that now you get a form of add you

686
00:28:00,119 --> 00:28:01,879
Speaker 6: can see, right, So it's like, now you have you

687
00:28:01,920 --> 00:28:03,919
Speaker 6: think about your your customers. They love your product, they

688
00:28:03,960 --> 00:28:05,800
Speaker 6: love your show. They're gonna listen no matter what right,

689
00:28:05,800 --> 00:28:09,720
Speaker 6: they're going to consume it. But imagine how vocal somebody

690
00:28:09,760 --> 00:28:11,680
Speaker 6: would be to say, you know what, I love the show.

691
00:28:12,000 --> 00:28:14,400
Speaker 6: I love the product. You should love it too. But

692
00:28:14,440 --> 00:28:17,040
Speaker 6: also I'm an investor in the show. I'm an investor

693
00:28:17,040 --> 00:28:17,480
Speaker 6: in the product.

694
00:28:17,560 --> 00:28:19,560
Speaker 4: You should love the product, and you should think about

695
00:28:19,560 --> 00:28:21,160
Speaker 4: investing as well. So now you've got.

696
00:28:21,119 --> 00:28:23,520
Speaker 6: People carrying the flag on your behalf, right, as opposed

697
00:28:23,560 --> 00:28:26,960
Speaker 6: to getting one check from one individual and like the

698
00:28:27,000 --> 00:28:27,920
Speaker 6: money is good, Like.

699
00:28:28,000 --> 00:28:29,000
Speaker 4: There's no advocacy.

700
00:28:29,080 --> 00:28:30,920
Speaker 6: So I think that when you think about how to

701
00:28:31,040 --> 00:28:34,920
Speaker 6: drive new customers new following, equity crowdfunding.

702
00:28:34,440 --> 00:28:38,320
Speaker 4: Is a very is a viable like a viable outlet.

703
00:28:37,960 --> 00:28:39,800
Speaker 6: In terms of from a dollar perspective and like a

704
00:28:39,840 --> 00:28:41,880
Speaker 6: crowd you know, mobilization perspective.

705
00:28:41,920 --> 00:28:45,000
Speaker 2: So you spoke about ancillary fees and you said that

706
00:28:45,080 --> 00:28:50,720
Speaker 2: the the equity crowdfund platform that's hosting charges you have

707
00:28:51,040 --> 00:28:53,040
Speaker 2: the platformt So is there like an industry standard that

708
00:28:53,120 --> 00:28:54,360
Speaker 2: they charge to.

709
00:28:54,120 --> 00:28:57,240
Speaker 6: Have your host So typically, based on research that our

710
00:28:57,280 --> 00:28:59,120
Speaker 6: team is that it's about seven percent. It can range

711
00:28:59,120 --> 00:29:01,840
Speaker 6: from five to ten, you know, but seven percent on average.

712
00:29:01,840 --> 00:29:04,600
Speaker 6: I see at the table, we charge seven percent. The

713
00:29:04,640 --> 00:29:06,480
Speaker 6: way that we do it, though, is a bit different

714
00:29:06,520 --> 00:29:08,640
Speaker 6: from the industry. So let me kind of talk about

715
00:29:08,640 --> 00:29:10,160
Speaker 6: the nuances of seat at the table. So I see

716
00:29:10,240 --> 00:29:13,000
Speaker 6: the table or a portal like any other equity crowdfunding porto.

717
00:29:13,080 --> 00:29:15,720
Speaker 4: But we tout this concept of family.

718
00:29:15,760 --> 00:29:17,320
Speaker 6: Right, So when you go on the website, you'll see

719
00:29:17,400 --> 00:29:20,240
Speaker 6: you twenty to forty different profiles, and so the family

720
00:29:20,240 --> 00:29:24,520
Speaker 6: members consist of bankers, attorneys, people that worked in CpG

721
00:29:24,640 --> 00:29:28,040
Speaker 6: for twenty years, you know, marketing, like the industry experts

722
00:29:28,040 --> 00:29:29,640
Speaker 6: people that had exits on their end. So when you,

723
00:29:29,680 --> 00:29:32,680
Speaker 6: as an entrepreneur, you come to the portal you're trying

724
00:29:32,680 --> 00:29:36,520
Speaker 6: to raise capital, we provide you with access to the family.

725
00:29:36,720 --> 00:29:37,400
Speaker 4: So now, if you have a.

726
00:29:37,320 --> 00:29:39,600
Speaker 6: Haircare product, there's somebody in the family that worked at

727
00:29:39,720 --> 00:29:41,600
Speaker 6: you know, are a make up probably somebody worked at

728
00:29:41,640 --> 00:29:43,760
Speaker 6: like a Lorel for twenty years, so they can help

729
00:29:43,800 --> 00:29:46,160
Speaker 6: you think through logistics, operations and things of that aguor

730
00:29:46,200 --> 00:29:49,320
Speaker 6: So we charge seven percent just like anybody else does.

731
00:29:49,680 --> 00:29:51,600
Speaker 6: But what we do is, if you're raised a million dollars,

732
00:29:51,720 --> 00:29:53,800
Speaker 6: seven percent of the amount that's raised, you're raising a

733
00:29:53,800 --> 00:29:54,280
Speaker 6: million dollars.

734
00:29:54,320 --> 00:29:56,280
Speaker 4: That's seven thousand dollars in fees. Right.

735
00:29:56,400 --> 00:29:59,120
Speaker 6: What we'll see that the table does that fifty thousand

736
00:29:59,320 --> 00:30:01,600
Speaker 6: is a check, is in cash to see at the table.

737
00:30:01,880 --> 00:30:04,120
Speaker 6: The other twenty thousand is in the form of equity,

738
00:30:04,200 --> 00:30:06,320
Speaker 6: the same safe note that you extended to your community.

739
00:30:06,520 --> 00:30:08,200
Speaker 6: Because what see this thinking is that hey, we are

740
00:30:08,280 --> 00:30:10,600
Speaker 6: long term investors and we are long term partners with

741
00:30:10,680 --> 00:30:11,160
Speaker 6: our community.

742
00:30:11,160 --> 00:30:13,000
Speaker 4: It's not about the one off transaction.

743
00:30:13,360 --> 00:30:15,320
Speaker 6: We're putting so much sweat equity and we're making so

744
00:30:15,360 --> 00:30:17,680
Speaker 6: many introductions that we want to see you be successful

745
00:30:17,960 --> 00:30:20,320
Speaker 6: beyond the actual like raise itself. So they answer your

746
00:30:20,360 --> 00:30:23,680
Speaker 6: question seven percent standard I see the table, it's seven percent,

747
00:30:23,720 --> 00:30:25,960
Speaker 6: but it's five percent cash and then two percent in

748
00:30:26,000 --> 00:30:27,960
Speaker 6: terms of like equity two percent of.

749
00:30:27,920 --> 00:30:29,120
Speaker 4: The raising out in terms exactly.

750
00:30:29,440 --> 00:30:33,000
Speaker 5: So as far as for people that are looking to invest,

751
00:30:34,000 --> 00:30:35,800
Speaker 5: what is some of the education they need to know?

752
00:30:35,960 --> 00:30:36,840
Speaker 4: Like as far as to.

753
00:30:38,280 --> 00:30:41,080
Speaker 5: You invest one thousand dollars, what does that equate to?

754
00:30:41,320 --> 00:30:44,360
Speaker 5: As far as like a percentage breakdown, when should you

755
00:30:44,440 --> 00:30:47,160
Speaker 5: expect to get your money back? How you know, just

756
00:30:47,160 --> 00:30:48,840
Speaker 5: to kind of because I think a lot of times people,

757
00:30:49,240 --> 00:30:52,800
Speaker 5: especially equity crowd fund, it's important for people to be educated, sure,

758
00:30:52,840 --> 00:30:55,680
Speaker 5: so they don't have misleading expectations.

759
00:30:55,800 --> 00:30:57,880
Speaker 6: I mean that's that's what's dope about your shows about

760
00:30:57,920 --> 00:31:01,440
Speaker 6: education and like us, all I'm doing educating So funny

761
00:31:01,440 --> 00:31:02,800
Speaker 6: shout out to the teacher I taught. When you're a

762
00:31:02,880 --> 00:31:06,080
Speaker 6: high school math Domingus High School and Compton. Uh yeah,

763
00:31:06,280 --> 00:31:08,680
Speaker 6: like holoiticing CHAML Yeah, exactly, a bunch of a bunch

764
00:31:08,720 --> 00:31:11,640
Speaker 6: of stars the ingas roll. But you know something big

765
00:31:11,680 --> 00:31:14,560
Speaker 6: on educations, Like I'm educating the investors what you were

766
00:31:14,560 --> 00:31:17,200
Speaker 6: just asking about, But we're also educating the entrepreneurs about

767
00:31:17,200 --> 00:31:19,240
Speaker 6: getting your paperwork or whatever, right, doing the audits, and

768
00:31:19,320 --> 00:31:21,200
Speaker 6: like how do you structure, like what do you use

769
00:31:21,240 --> 00:31:23,160
Speaker 6: a safe note revenue note? But to the question about

770
00:31:23,280 --> 00:31:26,040
Speaker 6: educating the investors, So you're just like you're asking, like,

771
00:31:26,320 --> 00:31:28,640
Speaker 6: so I talked about what's your ownership? So you got

772
00:31:28,680 --> 00:31:30,000
Speaker 6: to take that if it's a safe note, member of

773
00:31:30,000 --> 00:31:32,280
Speaker 6: the evaluation cap, divide and buy how much money you've

774
00:31:32,280 --> 00:31:35,080
Speaker 6: put in, Right, that's your ownership in the company. When

775
00:31:35,080 --> 00:31:37,320
Speaker 6: you think about investing in equity crowdfunding, you should only

776
00:31:37,320 --> 00:31:38,800
Speaker 6: invest what your ones to part ways with.

777
00:31:39,200 --> 00:31:41,480
Speaker 4: Right. It's not like a stock. You know, you're not

778
00:31:41,520 --> 00:31:43,560
Speaker 4: tracking the ticker on a daily basis. Right.

779
00:31:44,760 --> 00:31:46,640
Speaker 6: You know, typically with private and you got to think about,

780
00:31:46,680 --> 00:31:49,240
Speaker 6: like with private investing in general, it's something that you're

781
00:31:49,240 --> 00:31:51,960
Speaker 6: going to hold onto in perpetuity or hold on to forever, right,

782
00:31:52,000 --> 00:31:54,400
Speaker 6: and so the way you get paid back. And this

783
00:31:54,440 --> 00:31:55,440
Speaker 6: is like one of the questions you were like what

784
00:31:55,440 --> 00:31:58,080
Speaker 6: should people think about You should always, regardless of if

785
00:31:58,120 --> 00:32:01,640
Speaker 6: you're doing pe vc, any type of investments, you want

786
00:32:01,640 --> 00:32:03,600
Speaker 6: to ask the person, like what is the exit opportunity?

787
00:32:03,960 --> 00:32:05,560
Speaker 4: How am I getting? What does that look like? Right?

788
00:32:05,600 --> 00:32:06,840
Speaker 4: If you're going to invest in a company.

789
00:32:07,160 --> 00:32:09,240
Speaker 6: So typically it's either you know, the company that you've

790
00:32:09,240 --> 00:32:11,880
Speaker 6: invested in has gotten bought by a strategic right that

791
00:32:11,920 --> 00:32:13,640
Speaker 6: a company that's already in the space that says, hey,

792
00:32:13,680 --> 00:32:16,360
Speaker 6: you're doing something really interesting, let me buy you. Are

793
00:32:16,360 --> 00:32:18,920
Speaker 6: like more notably, we know like people call IPO right,

794
00:32:19,040 --> 00:32:21,800
Speaker 6: are in many instances companies fail, right, And it's like

795
00:32:21,840 --> 00:32:23,880
Speaker 6: that's like, so you have to like literally lock in

796
00:32:23,920 --> 00:32:27,400
Speaker 6: on the possibility, a strong possibility that the company won't

797
00:32:27,440 --> 00:32:28,080
Speaker 6: be successful.

798
00:32:28,160 --> 00:32:28,360
Speaker 4: Right.

799
00:32:28,480 --> 00:32:31,120
Speaker 6: So that's why the disclaimer about and that's only what

800
00:32:31,120 --> 00:32:33,160
Speaker 6: you're willing to part with, know that you can't trade it.

801
00:32:33,240 --> 00:32:35,480
Speaker 6: There's no secondary market. Like it's not like I buy

802
00:32:35,960 --> 00:32:38,200
Speaker 6: a piece of my favorite coffee shop. I invest in

803
00:32:38,240 --> 00:32:39,680
Speaker 6: a piece of my favorite coffee shop. I can sell

804
00:32:39,680 --> 00:32:41,880
Speaker 6: it to you that the industry isn't there yet, they're

805
00:32:41,880 --> 00:32:44,800
Speaker 6: still evolving, right, but it's like the benefit to me

806
00:32:44,880 --> 00:32:46,920
Speaker 6: is like, hey, I own a piece of this coffee shop.

807
00:32:47,360 --> 00:32:49,680
Speaker 6: Maybe the way it was either a debt note or

808
00:32:49,720 --> 00:32:51,920
Speaker 6: maybe they destructure where they're giving our gibing is sometimes

809
00:32:51,960 --> 00:32:53,760
Speaker 6: you can get paid cash, like the investments can give

810
00:32:53,760 --> 00:32:56,320
Speaker 6: you dividends, but you are literally an owner in that bar.

811
00:32:56,640 --> 00:32:58,440
Speaker 6: Or that coffee shop or any other you know probatly

812
00:32:58,480 --> 00:33:00,440
Speaker 6: that you consume. But to answer your question or to

813
00:33:00,480 --> 00:33:02,920
Speaker 6: be more concise about it, yeah, it's like there's no

814
00:33:02,960 --> 00:33:05,360
Speaker 6: secondary market. You're going to own it for your ideally,

815
00:33:05,360 --> 00:33:07,720
Speaker 6: you don't own it forever. You get paid when the

816
00:33:07,880 --> 00:33:11,160
Speaker 6: business sells. Very similar to like, you know, a real

817
00:33:11,240 --> 00:33:13,160
Speaker 6: estate transaction, like you know, when you own a piece

818
00:33:13,200 --> 00:33:14,760
Speaker 6: of the house, when you own the house that you're

819
00:33:14,760 --> 00:33:17,000
Speaker 6: living in, you don't actually make money on the house

820
00:33:17,000 --> 00:33:18,520
Speaker 6: that you're living in until you sell it and you're

821
00:33:18,520 --> 00:33:20,240
Speaker 6: hoping that you're selling it at a higher price, so

822
00:33:20,320 --> 00:33:21,080
Speaker 6: it's what you bought it.

823
00:33:21,080 --> 00:33:23,680
Speaker 5: It's really like two ways. How like in the VC

824
00:33:23,840 --> 00:33:26,280
Speaker 5: world or in this world, you really make money, right

825
00:33:26,440 --> 00:33:28,680
Speaker 5: so that a company goes public or a company is

826
00:33:28,720 --> 00:33:30,200
Speaker 5: purchased Yeah, yeah, I.

827
00:33:30,160 --> 00:33:32,480
Speaker 6: Mean our purcha by strategic Yeah, so and.

828
00:33:32,560 --> 00:33:35,920
Speaker 5: So Amazon boys PillPack for a billion dollars not make

829
00:33:35,960 --> 00:33:39,440
Speaker 5: some money. Or a coin base goes public nots makes money.

830
00:33:39,520 --> 00:33:41,719
Speaker 6: Yeah, And there's so many company there's so many transactions, man,

831
00:33:41,760 --> 00:33:43,840
Speaker 6: that are occurring that you would never even know. Or

832
00:33:43,880 --> 00:33:46,200
Speaker 6: another option is like a private equity firm comes in

833
00:33:46,320 --> 00:33:48,719
Speaker 6: and they they buy eighty percent of your company. You're

834
00:33:48,720 --> 00:33:50,960
Speaker 6: still selling to them, right, It's like, but there's so

835
00:33:50,960 --> 00:33:53,960
Speaker 6: many in those like those transactions often don't get they're

836
00:33:54,000 --> 00:33:54,720
Speaker 6: not in the press.

837
00:33:54,800 --> 00:33:54,880
Speaker 4: Right.

838
00:33:54,960 --> 00:33:57,240
Speaker 6: We hear about the big names and the IPO companies

839
00:33:57,240 --> 00:33:59,719
Speaker 6: that are doing transactions, but there are businesses. I think

840
00:33:59,720 --> 00:34:02,120
Speaker 6: it's life for an entrepreneur manager to have a business

841
00:34:02,160 --> 00:34:04,000
Speaker 6: doing a million a rev, ten million a rev. Whatever

842
00:34:04,000 --> 00:34:06,240
Speaker 6: the case can be employing people like which is a

843
00:34:06,240 --> 00:34:09,480
Speaker 6: big you know, kind of like delineating factor, having a

844
00:34:09,480 --> 00:34:11,840
Speaker 6: decent lifestyle and maybe selling it to another you know,

845
00:34:11,880 --> 00:34:14,960
Speaker 6: strategic for thirty million dollars whenever you choose to right,

846
00:34:14,960 --> 00:34:17,120
Speaker 6: I mean that ever make the press, but like that

847
00:34:17,239 --> 00:34:19,439
Speaker 6: is a notable transaction. And going back to the original point,

848
00:34:19,440 --> 00:34:21,719
Speaker 6: a middle market banker, a smaller investment bank would do

849
00:34:21,719 --> 00:34:24,960
Speaker 6: that transaction for you. But they're basically bringing capital to

850
00:34:25,000 --> 00:34:26,520
Speaker 6: the table. They're from another institution.

851
00:34:27,080 --> 00:34:31,200
Speaker 2: Okay, Yeah, so you said employing, and so I know

852
00:34:31,239 --> 00:34:33,360
Speaker 2: that's something that you know that you guys do very

853
00:34:34,680 --> 00:34:36,919
Speaker 2: This episode is brought to you by P and C Bank.

854
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865
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866
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Speaker 2: You ever walk into a small business and everything just

867
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868
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869
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870
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871
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872
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874
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875
00:35:45,400 --> 00:35:49,280
Speaker 2: and run their business with confidence, all from one simple system.

876
00:35:49,760 --> 00:35:52,359
Speaker 2: If you're a business owner or even just thinking about

877
00:35:52,440 --> 00:35:55,520
Speaker 2: launching something soon, Square is hands down one of the

878
00:35:55,560 --> 00:35:59,000
Speaker 2: best tools out there to help you start, run and grow.

879
00:35:59,280 --> 00:36:02,280
Speaker 2: It's not just about payments, it's about giving you time

880
00:36:02,360 --> 00:36:05,319
Speaker 2: back so you can focus on what matters most Ready

881
00:36:05,320 --> 00:36:08,720
Speaker 2: to see how Square can transform your business, visit Square

882
00:36:08,800 --> 00:36:13,319
Speaker 2: dot com backslash, go backslash eyl to learn more that

883
00:36:13,520 --> 00:36:18,960
Speaker 2: Square dot com backslash, go backslash eyl. Don't wait, don't hesitate.

884
00:36:19,080 --> 00:36:21,480
Speaker 2: Let's Square handle the back end so you can keep

885
00:36:21,480 --> 00:36:22,720
Speaker 2: pushing your vision forward.

886
00:36:24,960 --> 00:36:28,560
Speaker 1: An illegal alien from Guatemala charged with raping a child

887
00:36:28,640 --> 00:36:32,440
Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador

888
00:36:32,680 --> 00:36:36,800
Speaker 1: accused of murdering a Texas. Man of Venezuelan charged with

889
00:36:36,880 --> 00:36:40,799
Speaker 1: filming and selling child pornography in Michigan. These are just

890
00:36:40,880 --> 00:36:44,640
Speaker 1: some of the heinous migrant criminals caught because of President

891
00:36:44,680 --> 00:36:48,200
Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States

892
00:36:48,280 --> 00:36:53,080
Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

893
00:36:53,120 --> 00:36:56,640
Speaker 1: crossings are at the lowest levels ever recorded, and over

894
00:36:56,719 --> 00:36:59,800
Speaker 1: one hundred thousand illegal aliens have been arrested. If you

895
00:37:00,000 --> 00:37:03,520
Speaker 1: if we're here illegally, your next you will be fine

896
00:37:03,560 --> 00:37:07,680
Speaker 1: nearly one thousand dollars a day, imprisoned and deported, you

897
00:37:07,719 --> 00:37:11,280
Speaker 1: will never return. But if you register using our CBP

898
00:37:11,440 --> 00:37:14,160
Speaker 1: home app and leave now, you could be allowed to

899
00:37:14,200 --> 00:37:19,040
Speaker 1: return legally, do what's right, leave now. Under President Trump

900
00:37:19,200 --> 00:37:22,360
Speaker 1: America's laws, border and families will.

901
00:37:22,160 --> 00:37:24,640
Speaker 2: Be protected sponsored by the United States Department of Homeland

902
00:37:24,640 --> 00:37:25,640
Speaker 2: Security intentionally.

903
00:37:25,760 --> 00:37:28,400
Speaker 4: Yep. Right, So you hire banker's attorneys.

904
00:37:28,400 --> 00:37:31,880
Speaker 2: Talk about that process of not only investing in the community,

905
00:37:31,920 --> 00:37:33,480
Speaker 2: but hiring from the community.

906
00:37:33,560 --> 00:37:35,040
Speaker 4: Yeah, I'm all about us.

907
00:37:35,280 --> 00:37:38,239
Speaker 6: So my dentist is blag, my attorney's are black, My

908
00:37:38,320 --> 00:37:40,840
Speaker 6: state planners are black, my real estate you know, mortgage

909
00:37:40,960 --> 00:37:44,720
Speaker 6: people are black. Right, Like, I'm very I'm very stern

910
00:37:44,760 --> 00:37:48,880
Speaker 6: about us as a community, especially notable individuals, right, applying

911
00:37:49,000 --> 00:37:51,960
Speaker 6: pressure to say that, Hey, if I'm giving you, if

912
00:37:51,960 --> 00:37:54,080
Speaker 6: I'm working with you or engaging with you, I want

913
00:37:54,080 --> 00:37:56,000
Speaker 6: to make sure that my coverage person is somebody that

914
00:37:56,040 --> 00:37:58,160
Speaker 6: looks like me, are somewhat familiar, right, And so like

915
00:37:58,200 --> 00:38:00,560
Speaker 6: we can't be embarrassed by that, because it's happening for

916
00:38:00,600 --> 00:38:04,120
Speaker 6: everybody else for sure, right, And so in that respect, Yeah,

917
00:38:04,120 --> 00:38:06,799
Speaker 6: like I'm tapped in. I have, you know, for people

918
00:38:06,800 --> 00:38:08,640
Speaker 6: that are coming to the portal, we have you know,

919
00:38:08,680 --> 00:38:11,959
Speaker 6: black and brown securities attorneys. We have black and brown

920
00:38:12,040 --> 00:38:14,759
Speaker 6: CPAs that we like to recommend. We have black and

921
00:38:14,800 --> 00:38:19,239
Speaker 6: brown operations consultants as well, but we try to keep

922
00:38:19,239 --> 00:38:20,960
Speaker 6: it in house so they extend that we want to

923
00:38:20,960 --> 00:38:23,600
Speaker 6: at least say that we made an effort to reach

924
00:38:23,640 --> 00:38:26,239
Speaker 6: out to somebody like us. It doesn't always work that way,

925
00:38:26,239 --> 00:38:28,360
Speaker 6: Like there are still some needs that I have, but

926
00:38:28,400 --> 00:38:31,440
Speaker 6: we'll continue. Like we're like the way we're situated is

927
00:38:31,440 --> 00:38:35,040
Speaker 6: that we're facilitating introductions, that we're facilitating capital. Right, So

928
00:38:35,040 --> 00:38:37,480
Speaker 6: it's like, Hey, as an entrepreneur, I have this particular need.

929
00:38:37,719 --> 00:38:39,239
Speaker 6: The first thing when I think about is like who

930
00:38:39,280 --> 00:38:41,920
Speaker 6: within like the affinity network that I can position?

931
00:38:42,000 --> 00:38:43,000
Speaker 4: So I see the table.

932
00:38:43,200 --> 00:38:45,840
Speaker 6: The family is you know thirty to forty people that

933
00:38:45,880 --> 00:38:49,640
Speaker 6: are industry experts, that are like well worked, resourced individuals,

934
00:38:49,840 --> 00:38:54,399
Speaker 6: and we literally are bringing entrepreneurs into our ecosystem. Right,

935
00:38:54,440 --> 00:38:56,400
Speaker 6: Maybe you didn't go maybe a neighborhood dude, you need

936
00:38:56,440 --> 00:38:58,320
Speaker 6: to go to you know XYZ school, right, and you

937
00:38:58,320 --> 00:39:01,040
Speaker 6: don't have access to like all these individuals. Like we

938
00:39:01,120 --> 00:39:03,960
Speaker 6: make sure that regardless of what your background is, that

939
00:39:03,960 --> 00:39:06,640
Speaker 6: we're actually inserting you into our ecosystems and the network

940
00:39:06,640 --> 00:39:07,040
Speaker 6: that we have.

941
00:39:07,760 --> 00:39:08,720
Speaker 4: That was going to be Earns.

942
00:39:08,760 --> 00:39:11,319
Speaker 2: What's going on this Black History Month? McDonald's is kicking

943
00:39:11,320 --> 00:39:14,560
Speaker 2: off Future twenty two, a campaign celebrating twenty two gen

944
00:39:14,680 --> 00:39:17,640
Speaker 2: Z leaders across the country who are making an impact

945
00:39:17,840 --> 00:39:21,520
Speaker 2: on their communities. Right now, this generation may have the

946
00:39:21,600 --> 00:39:24,480
Speaker 2: largest influx of young leaders since the Civil Rights Movement.

947
00:39:24,760 --> 00:39:27,879
Speaker 2: They're starting their own organizations, finding ways to empower youth

948
00:39:27,920 --> 00:39:31,640
Speaker 2: and culture, standing up and speaking out. McDonald's is showcasing

949
00:39:31,680 --> 00:39:34,280
Speaker 2: their efforts and the impact they're having on the world.

950
00:39:34,480 --> 00:39:37,239
Speaker 2: McDonald's isn't just a place that serves great food. Crew

951
00:39:37,280 --> 00:39:40,240
Speaker 2: members learn basic business skills that can help them throughout life.

952
00:39:40,440 --> 00:39:43,880
Speaker 2: Cruly leaders like Paricia Hutchison are dedicated to teaching and

953
00:39:44,000 --> 00:39:47,080
Speaker 2: inspiring others. As a Howard student, she not only tutors

954
00:39:47,160 --> 00:39:49,960
Speaker 2: kids to help them succeed, she volunteers at shelters to

955
00:39:50,000 --> 00:39:53,399
Speaker 2: feed the homers and organizations that help the youth. See

956
00:39:53,400 --> 00:39:56,640
Speaker 2: more stories like hers on Instagram at We Are Golden To.

957
00:39:56,719 --> 00:39:58,640
Speaker 4: My next point was like, is there a criteria to

958
00:39:58,719 --> 00:39:59,560
Speaker 4: be on the platform? Right?

959
00:39:59,760 --> 00:40:03,400
Speaker 2: Maybe I didn't have this background and maybe I'm just

960
00:40:03,440 --> 00:40:05,040
Speaker 2: started my business, my first business.

961
00:40:05,200 --> 00:40:07,000
Speaker 4: Is there criteria to be on the plus? Yeah? We

962
00:40:07,040 --> 00:40:08,799
Speaker 4: are we are we are a bit more. We are

963
00:40:08,840 --> 00:40:09,319
Speaker 4: not a bit more.

964
00:40:09,320 --> 00:40:11,640
Speaker 6: We are definitely more patient and friendly in terms of,

965
00:40:11,920 --> 00:40:15,400
Speaker 6: you know, our process of onboarding companies. So I would like,

966
00:40:15,440 --> 00:40:18,800
Speaker 6: we are tapped into the community. We are intentionally created

967
00:40:18,880 --> 00:40:19,560
Speaker 6: for the community.

968
00:40:19,600 --> 00:40:19,759
Speaker 4: Right.

969
00:40:19,800 --> 00:40:21,800
Speaker 6: So when I say that, because there are other equity

970
00:40:21,800 --> 00:40:24,600
Speaker 6: power funding portals that are very stern about seventy thousand

971
00:40:24,640 --> 00:40:27,000
Speaker 6: dollars in revenue right before you before that you're able

972
00:40:27,000 --> 00:40:29,560
Speaker 6: to come onto the portal. We don't have revenue minimums,

973
00:40:30,080 --> 00:40:33,840
Speaker 6: I would say, And there's no education credentials or anything

974
00:40:33,880 --> 00:40:34,840
Speaker 6: like that that's required.

975
00:40:35,320 --> 00:40:37,120
Speaker 4: We are process is.

976
00:40:37,000 --> 00:40:38,920
Speaker 6: That you'll apply, you come on the portal, your create

977
00:40:38,960 --> 00:40:42,240
Speaker 6: a campaign. It's it's your submit your business plan or

978
00:40:42,280 --> 00:40:44,560
Speaker 6: your pitch deck. We were viewing internally with our diligency.

979
00:40:44,680 --> 00:40:46,920
Speaker 6: There's a bunch of interviews back and forth. We circle

980
00:40:46,960 --> 00:40:49,360
Speaker 6: it up among the family and everybody can kind of

981
00:40:49,400 --> 00:40:52,200
Speaker 6: like talk about the idea and then it was you know.

982
00:40:52,480 --> 00:40:55,120
Speaker 4: Assess their interests and then we on board you.

983
00:40:55,719 --> 00:40:57,759
Speaker 6: But like there's a lot of handholding that does not

984
00:40:57,880 --> 00:41:01,560
Speaker 6: exist among other portals as well. So to go back

985
00:41:01,560 --> 00:41:04,719
Speaker 6: to your question, there's no profile requirement.

986
00:41:04,840 --> 00:41:05,800
Speaker 4: I find that.

987
00:41:05,960 --> 00:41:08,760
Speaker 6: Companies that are like direct to consumer or e commerce

988
00:41:08,840 --> 00:41:12,920
Speaker 6: companies perform better in equity crowdfunding more broadly because it

989
00:41:12,960 --> 00:41:15,920
Speaker 6: allows for that advocacy fact, like not only does it

990
00:41:15,920 --> 00:41:18,120
Speaker 6: taste good, right, like you should like it, it taste

991
00:41:18,120 --> 00:41:18,719
Speaker 6: good as well, like.

992
00:41:18,640 --> 00:41:20,680
Speaker 4: I'm also an owner in it. When it's like, yeah,

993
00:41:20,680 --> 00:41:23,719
Speaker 4: it was that that shirt you and earn it? Yeah exactly, yeah, yeah.

994
00:41:23,760 --> 00:41:25,000
Speaker 6: Like when it's B to B, it's like you can't

995
00:41:25,040 --> 00:41:27,120
Speaker 6: really see it, right, and you can't really mobilize your base.

996
00:41:27,200 --> 00:41:29,160
Speaker 6: So like if it's an app, I think apps work

997
00:41:29,200 --> 00:41:30,520
Speaker 6: really well because now you already said, like I got

998
00:41:30,560 --> 00:41:32,480
Speaker 6: one hundred thousand users, Like the first people you should

999
00:41:32,480 --> 00:41:35,160
Speaker 6: be asked for capital is your one hundred thousand users, right,

1000
00:41:35,239 --> 00:41:38,680
Speaker 6: But the mindset is, yeah, asked for capital. But really,

1001
00:41:38,880 --> 00:41:42,719
Speaker 6: this is what I think is important for entrepreneurs. Really

1002
00:41:42,760 --> 00:41:45,439
Speaker 6: the stories you are making space for those one hundred

1003
00:41:45,480 --> 00:41:48,720
Speaker 6: thousand users that you have to participate in your growth

1004
00:41:48,760 --> 00:41:51,160
Speaker 6: journey as an entrepreneur, right, And I think that whens

1005
00:41:51,239 --> 00:41:53,279
Speaker 6: up happening in our community is that we get these

1006
00:41:53,320 --> 00:41:56,480
Speaker 6: dope businesses and I'll support any black business. I'll support

1007
00:41:56,520 --> 00:41:58,279
Speaker 6: you without even knowing you, right, Because like I'm all

1008
00:41:58,320 --> 00:42:00,800
Speaker 6: about us, right, And it's like you get these businesses

1009
00:42:00,840 --> 00:42:02,000
Speaker 6: that are coming up and like, you know what, we

1010
00:42:02,040 --> 00:42:04,479
Speaker 6: got to buy that productcause it's black owned, brown owned, right.

1011
00:42:04,760 --> 00:42:06,759
Speaker 6: But I think it's the entrepreneurship possibility to say, like, hey,

1012
00:42:06,840 --> 00:42:08,759
Speaker 6: support me because I'm black and brown and because you

1013
00:42:08,760 --> 00:42:11,080
Speaker 6: know the quality of the product is great. But in return,

1014
00:42:11,280 --> 00:42:14,000
Speaker 6: I'm going to provide space for you to invest. So

1015
00:42:14,040 --> 00:42:16,480
Speaker 6: as my company grows, you could say like, hey, you know,

1016
00:42:16,719 --> 00:42:18,960
Speaker 6: I was doing eight million dollars of revenue ten years

1017
00:42:18,960 --> 00:42:20,799
Speaker 6: ago and now I'm doing eighty million, and you were

1018
00:42:20,800 --> 00:42:22,680
Speaker 6: an investor there. And so when I sell to a

1019
00:42:22,719 --> 00:42:26,280
Speaker 6: strategic or IPO, you are an owner in the space.

1020
00:42:26,360 --> 00:42:30,560
Speaker 6: So it allows entrepreneurs to make space on their captable,

1021
00:42:30,600 --> 00:42:33,200
Speaker 6: to make space in their company for their community, their

1022
00:42:33,280 --> 00:42:35,880
Speaker 6: their family, their friends to be investors, and to like

1023
00:42:35,920 --> 00:42:37,839
Speaker 6: really be in the car with them as they're going

1024
00:42:37,840 --> 00:42:39,799
Speaker 6: down the road. In terms of you know, succeeding as

1025
00:42:39,800 --> 00:42:40,320
Speaker 6: a business.

1026
00:42:40,560 --> 00:42:43,000
Speaker 5: So like, what was the steps that you did to start?

1027
00:42:43,200 --> 00:42:46,480
Speaker 5: I know you had some speaking of funding, you had

1028
00:42:46,520 --> 00:42:51,719
Speaker 5: some like Baron Davis, friend of ours, Ryan from the

1029
00:42:51,800 --> 00:42:54,120
Speaker 5: gathering spots. What were the steps that you took to

1030
00:42:54,160 --> 00:42:57,279
Speaker 5: get seated at the table off the ground in the

1031
00:42:57,320 --> 00:42:57,840
Speaker 5: up and running.

1032
00:42:58,000 --> 00:43:00,360
Speaker 4: So a shout out to to Baron Davis la noble,

1033
00:43:01,160 --> 00:43:01,799
Speaker 4: like a.

1034
00:43:02,160 --> 00:43:04,040
Speaker 6: He's a human, like a normal like normal people man,

1035
00:43:04,080 --> 00:43:05,800
Speaker 6: Like I walked and yeah, I shared the room with

1036
00:43:05,880 --> 00:43:08,920
Speaker 6: many different people. And I think what's important in life, man,

1037
00:43:09,000 --> 00:43:09,960
Speaker 6: is that when you are not in the room, like

1038
00:43:09,960 --> 00:43:10,960
Speaker 6: how people are talking about you.

1039
00:43:11,080 --> 00:43:12,920
Speaker 4: If you said, like, oh I met Pierre, ninety.

1040
00:43:12,760 --> 00:43:14,239
Speaker 6: Nine percent of the time, they're going to say he

1041
00:43:14,320 --> 00:43:16,359
Speaker 6: tried to be helpful to me without asking anything back,

1042
00:43:16,360 --> 00:43:19,080
Speaker 6: and Barness, you know, equally yoked in that respect. No,

1043
00:43:19,400 --> 00:43:20,839
Speaker 6: A couple of other ball players, like it's another guy

1044
00:43:20,880 --> 00:43:22,560
Speaker 6: in Anthony Tolliver's known.

1045
00:43:22,480 --> 00:43:23,880
Speaker 4: Hooper played for a while in the league.

1046
00:43:24,560 --> 00:43:27,600
Speaker 6: And then the other investors are family, are just folks

1047
00:43:27,600 --> 00:43:30,680
Speaker 6: like us, like literally bankers, attorneys. Right that said like, hey,

1048
00:43:31,400 --> 00:43:33,920
Speaker 6: I know there's tons of entrepreneurs out there that want

1049
00:43:33,960 --> 00:43:36,640
Speaker 6: to get access to capital. How can I be of help? Right,

1050
00:43:36,760 --> 00:43:38,800
Speaker 6: So that's what that family looks like. Those are the

1051
00:43:38,880 --> 00:43:41,839
Speaker 6: vest For me. It was me finally making an ask

1052
00:43:42,120 --> 00:43:44,359
Speaker 6: of my network and saying like, hey, this is what

1053
00:43:44,360 --> 00:43:48,040
Speaker 6: we're putting together. I want to make space for you

1054
00:43:48,080 --> 00:43:50,120
Speaker 6: to participate, but also I want to, like, I need

1055
00:43:50,160 --> 00:43:52,759
Speaker 6: to like raise his capital to offset the costs, right,

1056
00:43:52,840 --> 00:43:55,439
Speaker 6: And so people came and they knocked on the door

1057
00:43:55,520 --> 00:43:58,279
Speaker 6: in abundance. I was like I was Humbolt man. It

1058
00:43:58,320 --> 00:44:02,200
Speaker 6: was oversubscribed in both instances where there was capital raise.

1059
00:44:03,840 --> 00:44:05,880
Speaker 6: But it was by virtue of the network that I created, right,

1060
00:44:05,920 --> 00:44:08,640
Speaker 6: and by virtue of like me managing relationships. And so

1061
00:44:08,760 --> 00:44:11,080
Speaker 6: for any entrepreneur, whether you're raising capital or not, like

1062
00:44:11,120 --> 00:44:13,560
Speaker 6: your management relationships, whether it's your vendors or your customers.

1063
00:44:13,560 --> 00:44:17,759
Speaker 6: So I created a very healthy network of just like

1064
00:44:17,800 --> 00:44:20,919
Speaker 6: solid individuals. And then I was fortunate to have people

1065
00:44:20,960 --> 00:44:23,120
Speaker 6: that were aligned to Seeds a mission to come in

1066
00:44:23,360 --> 00:44:26,480
Speaker 6: and you know, to provide capital and to provide insight. Right,

1067
00:44:26,520 --> 00:44:29,000
Speaker 6: So like providing capital in terms of dollars, but I

1068
00:44:29,040 --> 00:44:32,359
Speaker 6: think like network and expertise is just as important, right,

1069
00:44:32,400 --> 00:44:34,720
Speaker 6: And so we created something special.

1070
00:44:34,719 --> 00:44:34,879
Speaker 4: Man.

1071
00:44:34,920 --> 00:44:36,359
Speaker 6: And so when you come and you partner with Seed

1072
00:44:36,400 --> 00:44:38,200
Speaker 6: at the table, it really does feel like you are

1073
00:44:38,200 --> 00:44:42,879
Speaker 6: sitting among family, like the handholding is needed. And it's

1074
00:44:42,960 --> 00:44:45,759
Speaker 6: true because I said, you know, being an entrepreneur is

1075
00:44:45,800 --> 00:44:47,840
Speaker 6: such a lonely part. There's so many things that you

1076
00:44:47,880 --> 00:44:49,960
Speaker 6: don't know, like I didn't know anything about the space

1077
00:44:50,040 --> 00:44:52,359
Speaker 6: right as an entrepreneur, and so like the best way

1078
00:44:52,400 --> 00:44:54,920
Speaker 6: to avoid pitfalls is to ask somebody that I already

1079
00:44:54,920 --> 00:44:56,960
Speaker 6: went through the process right and get to learn from

1080
00:44:56,960 --> 00:44:57,440
Speaker 6: their experience.

1081
00:44:57,480 --> 00:44:59,279
Speaker 4: So that's what the Seed family really serves. That.

1082
00:44:59,320 --> 00:45:01,799
Speaker 6: So they're not just like investors in terms of seed,

1083
00:45:01,880 --> 00:45:04,239
Speaker 6: but they're also the network that is available to every

1084
00:45:04,280 --> 00:45:05,880
Speaker 6: issuing company and available to me I got there.

1085
00:45:05,960 --> 00:45:07,520
Speaker 4: They're my sounding board as well.

1086
00:45:07,960 --> 00:45:11,439
Speaker 5: So navigating the platform from two different perspectives, I must

1087
00:45:11,440 --> 00:45:13,040
Speaker 5: if I'm a business owner, I want to get on

1088
00:45:13,080 --> 00:45:15,440
Speaker 5: your platform, what do I do?

1089
00:45:16,239 --> 00:45:16,560
Speaker 4: All? Right?

1090
00:45:16,680 --> 00:45:19,799
Speaker 5: So I created user name, passport log in, so I

1091
00:45:19,800 --> 00:45:21,640
Speaker 5: have to do like a bio of the company. I

1092
00:45:21,680 --> 00:45:23,760
Speaker 5: have to say, like how much money I'm looking to raise?

1093
00:45:23,840 --> 00:45:25,440
Speaker 4: Exactly? What's what's you have to say?

1094
00:45:25,520 --> 00:45:27,040
Speaker 6: Much money you're looking to raise, whether it's going to

1095
00:45:27,120 --> 00:45:28,920
Speaker 6: be debt or whether it's going to be equity, right,

1096
00:45:28,960 --> 00:45:31,000
Speaker 6: which investment vehicle you're gonna use, whether it's a safe

1097
00:45:31,080 --> 00:45:34,600
Speaker 6: note or a revenue note or whatever the case may be.

1098
00:45:35,040 --> 00:45:37,040
Speaker 6: You have to identify like the industry that the business

1099
00:45:37,080 --> 00:45:39,399
Speaker 6: is in, and then once again it is reviewed by

1100
00:45:39,560 --> 00:45:42,800
Speaker 6: our leadership team and and experts within that space, like

1101
00:45:42,840 --> 00:45:46,520
Speaker 6: we literally have expertise covering any industry right in terms

1102
00:45:46,560 --> 00:45:48,600
Speaker 6: of the family and or I've seen it in terms

1103
00:45:48,600 --> 00:45:50,759
Speaker 6: of the deal flow, the diligence work that I do

1104
00:45:51,320 --> 00:45:53,840
Speaker 6: and my other capacity. So you'll come in, you'll sign up.

1105
00:45:53,880 --> 00:45:57,960
Speaker 6: As I mentioned, it's reviewed. We'll have conversations. You pitch

1106
00:45:58,040 --> 00:46:00,799
Speaker 6: formerly to no family right or to the leadership team

1107
00:46:00,800 --> 00:46:03,239
Speaker 6: within the family, and they'll say that it's a get

1108
00:46:03,239 --> 00:46:05,960
Speaker 6: fit for the portal. So we're not the family is

1109
00:46:06,000 --> 00:46:07,440
Speaker 6: not a gatekeeper. You're not going to say, oh, you're

1110
00:46:07,440 --> 00:46:08,520
Speaker 6: not going to be and so it's hard. It's like

1111
00:46:08,560 --> 00:46:09,520
Speaker 6: we're not going to tell you that you're going to

1112
00:46:09,560 --> 00:46:11,280
Speaker 6: be a viable business or not, Like we're not nobody

1113
00:46:11,280 --> 00:46:11,719
Speaker 6: can do that.

1114
00:46:11,920 --> 00:46:12,120
Speaker 4: Right.

1115
00:46:12,920 --> 00:46:15,080
Speaker 6: What we're really trying to assess is do you understand

1116
00:46:15,080 --> 00:46:18,280
Speaker 6: that it is an active process in turn of raising capital?

1117
00:46:18,320 --> 00:46:20,680
Speaker 6: So are you structured your thought process? Do you have

1118
00:46:21,320 --> 00:46:23,480
Speaker 6: your document your documents in order? Do you have the

1119
00:46:23,560 --> 00:46:25,759
Speaker 6: story in order so you can go out there and

1120
00:46:25,800 --> 00:46:27,000
Speaker 6: successfully raise capital?

1121
00:46:27,080 --> 00:46:27,239
Speaker 4: Right?

1122
00:46:27,280 --> 00:46:30,680
Speaker 6: Because the challenges for many entrepreneurs is that we think

1123
00:46:30,680 --> 00:46:33,279
Speaker 6: it's easy, got the best idea, are not the best

1124
00:46:33,280 --> 00:46:35,200
Speaker 6: business and you should believe in your business, because nobody's

1125
00:46:35,200 --> 00:46:36,719
Speaker 6: gonna believe in your business more than you will, right,

1126
00:46:37,200 --> 00:46:41,680
Speaker 6: but we often are. We're often there's a misconception that

1127
00:46:41,840 --> 00:46:43,160
Speaker 6: you know, I'm gonna go out there and put my

1128
00:46:43,239 --> 00:46:45,399
Speaker 6: name on this portal and people are going to rush

1129
00:46:45,440 --> 00:46:48,480
Speaker 6: and droves. It's raising cab Like, nah, you gotta hand

1130
00:46:48,520 --> 00:46:50,360
Speaker 6: in hand. You got to go out there and literally

1131
00:46:50,360 --> 00:46:53,520
Speaker 6: like you know, uh, talk to folks, raise capital, tell

1132
00:46:53,520 --> 00:46:56,040
Speaker 6: them your story, right and so, and that's what we

1133
00:46:56,080 --> 00:46:58,000
Speaker 6: always whether that's that seed at the table or some

1134
00:46:58,040 --> 00:47:00,480
Speaker 6: of the you know, more kind of notable uh platforms

1135
00:47:00,480 --> 00:47:05,000
Speaker 6: out there, you're literally driving ninety five of the investors right.

1136
00:47:05,080 --> 00:47:08,520
Speaker 6: The portal is literally just legal space right for you

1137
00:47:08,560 --> 00:47:11,319
Speaker 6: to transact for to be documented by the SEC and fener.

1138
00:47:11,480 --> 00:47:13,279
Speaker 6: And so the best way to describe see it at

1139
00:47:13,280 --> 00:47:16,120
Speaker 6: the table versus the competitors, it's like us like throwing

1140
00:47:16,120 --> 00:47:19,560
Speaker 6: a party, right, so everybody have everybody all these portals

1141
00:47:19,600 --> 00:47:21,239
Speaker 6: have ballrooms at the rents.

1142
00:47:20,960 --> 00:47:22,840
Speaker 4: Four seasons or any other kind of venue.

1143
00:47:22,960 --> 00:47:27,000
Speaker 6: Right when you go to we go to WE funders,

1144
00:47:27,360 --> 00:47:29,480
Speaker 6: when you go to their their ballroom, it's going to

1145
00:47:29,520 --> 00:47:31,520
Speaker 6: have more people there because they are like they've been

1146
00:47:31,560 --> 00:47:32,319
Speaker 6: known for a while, but you.

1147
00:47:32,320 --> 00:47:33,759
Speaker 4: Don't really know what the music is going to be.

1148
00:47:34,200 --> 00:47:36,400
Speaker 6: Right when you go to see the table, it may

1149
00:47:36,440 --> 00:47:38,319
Speaker 6: be less, but you know they're gonna be playing nas

1150
00:47:38,600 --> 00:47:40,920
Speaker 6: They're gonna play a little bit of Kendrick right, a

1151
00:47:40,960 --> 00:47:42,839
Speaker 6: little bit of it right. It's like it's like I'm

1152
00:47:42,840 --> 00:47:44,840
Speaker 6: handing you the ox, right, and it's like it's like,

1153
00:47:45,160 --> 00:47:47,279
Speaker 6: you know, the community goose on the yeah, you know,

1154
00:47:47,440 --> 00:47:49,759
Speaker 6: you know, you know, it's literally the communities for us, right,

1155
00:47:49,800 --> 00:47:51,399
Speaker 6: and so, and people are going to be a bit

1156
00:47:51,400 --> 00:47:53,200
Speaker 6: more patient because what ends up happening is that when

1157
00:47:53,200 --> 00:47:54,799
Speaker 6: you do launch, you list on a port on a

1158
00:47:54,880 --> 00:47:56,960
Speaker 6: on a on a platform, you want to make sure

1159
00:47:57,360 --> 00:48:00,359
Speaker 6: the story that you're telling aligns with the audience, right.

1160
00:48:00,400 --> 00:48:02,640
Speaker 6: And so, you know, we are intentional about the people

1161
00:48:02,680 --> 00:48:05,240
Speaker 6: that we start black and round diverse entrepreneurs. We understand

1162
00:48:05,280 --> 00:48:06,920
Speaker 6: that there's a little bit more handholding that is required

1163
00:48:06,960 --> 00:48:09,360
Speaker 6: for that community. The audience and the ecosystem that we

1164
00:48:09,360 --> 00:48:12,720
Speaker 6: surround them with are reflective of that. So so hopefully

1165
00:48:12,719 --> 00:48:15,040
Speaker 6: Aswerr questions, yes, you all, you create a profile, we

1166
00:48:15,360 --> 00:48:17,719
Speaker 6: evaluate you. We're assessing fit more so in terms of

1167
00:48:17,719 --> 00:48:19,400
Speaker 6: your ability to raise capital, not in terms of like

1168
00:48:19,760 --> 00:48:21,600
Speaker 6: this is going to be like a hitter. Is this

1169
00:48:21,680 --> 00:48:24,319
Speaker 6: the ten X returns? It's a betting process. Yeah, it's

1170
00:48:24,360 --> 00:48:27,080
Speaker 6: a betting process. And so then we're submitting the documentation

1171
00:48:27,400 --> 00:48:29,960
Speaker 6: through the SEC for you and Finero for you. And

1172
00:48:30,000 --> 00:48:32,000
Speaker 6: then as an entrepreneur, so once you go and you're

1173
00:48:32,040 --> 00:48:34,480
Speaker 6: raising million dollars or one hundred thousand dollars and there's

1174
00:48:34,480 --> 00:48:37,000
Speaker 6: no investmental you were asking, there's no investment, there's no

1175
00:48:37,520 --> 00:48:39,600
Speaker 6: raised minimum, I should say, right, we typically like to

1176
00:48:39,600 --> 00:48:42,080
Speaker 6: stay above one hundred thousand dollars because it's like it's

1177
00:48:42,080 --> 00:48:44,000
Speaker 6: a lot of time. It's the cost to us, right,

1178
00:48:44,640 --> 00:48:46,200
Speaker 6: A million is like the sweet spot. But what I

1179
00:48:46,239 --> 00:48:49,680
Speaker 6: was getting at is when you're when you're raising capital,

1180
00:48:50,320 --> 00:48:52,440
Speaker 6: when you go through the equity profiting process, which are

1181
00:48:52,480 --> 00:48:54,719
Speaker 6: required as an entrepreneur besides being a good steward of

1182
00:48:54,760 --> 00:48:57,319
Speaker 6: that capital and operating your business, is that you have.

1183
00:48:57,320 --> 00:49:00,000
Speaker 4: To report to your investors once a year for two years.

1184
00:49:00,680 --> 00:49:02,600
Speaker 6: You just have it's your annual investor letter, like this

1185
00:49:02,640 --> 00:49:04,360
Speaker 6: is how the business is operating, this is what you know,

1186
00:49:04,440 --> 00:49:06,080
Speaker 6: what we're doing. You have to do that for two

1187
00:49:06,120 --> 00:49:08,000
Speaker 6: years and that's filed with the SEC. And after that

1188
00:49:08,040 --> 00:49:10,520
Speaker 6: you're done. And so then also excuse me, also as

1189
00:49:10,560 --> 00:49:13,560
Speaker 6: an entrepreneur, you can raise up to five million dollars.

1190
00:49:13,719 --> 00:49:15,279
Speaker 6: But for example, if you raise if you want to

1191
00:49:15,320 --> 00:49:17,000
Speaker 6: kind of get your feet wet and say, like, you

1192
00:49:17,040 --> 00:49:19,279
Speaker 6: know what, let me raise under two fifty. So I'll

1193
00:49:19,280 --> 00:49:21,040
Speaker 6: have to do the expensive audience, right, and just to

1194
00:49:21,080 --> 00:49:22,440
Speaker 6: kind of get a feel for the process. You can

1195
00:49:22,480 --> 00:49:24,560
Speaker 6: do that, and then when in that same year, you

1196
00:49:24,600 --> 00:49:27,279
Speaker 6: can still raise up to another four point seventy five

1197
00:49:27,840 --> 00:49:30,359
Speaker 6: million dollars. So it's five million dollars per year, and

1198
00:49:30,520 --> 00:49:32,840
Speaker 6: our next year you can go back and raise I

1199
00:49:32,840 --> 00:49:33,799
Speaker 6: wouldn't encourage us.

1200
00:49:34,000 --> 00:49:36,400
Speaker 4: You can go back and raise another five million, right.

1201
00:49:36,280 --> 00:49:39,920
Speaker 6: So that's the dynamical the structure of how things are situated,

1202
00:49:40,719 --> 00:49:42,080
Speaker 6: you said, and Charlie said this.

1203
00:49:42,160 --> 00:49:44,719
Speaker 2: He said, it's two ways in this business. Right, you're

1204
00:49:44,719 --> 00:49:48,000
Speaker 2: gonna get bullet. You're going to IPO and we haven't

1205
00:49:48,040 --> 00:49:49,400
Speaker 2: really fled all feel.

1206
00:49:49,320 --> 00:49:52,440
Speaker 4: Filfl to work.

1207
00:49:53,400 --> 00:49:55,319
Speaker 2: It has to work, it has to yeah, right, And

1208
00:49:55,400 --> 00:49:58,480
Speaker 2: so we don't really see many black and brown companies

1209
00:49:58,560 --> 00:50:01,120
Speaker 2: I po yep. And so when you're on brown in an event,

1210
00:50:01,280 --> 00:50:04,800
Speaker 2: are you looking at the company saying yes, this potentially

1211
00:50:04,800 --> 00:50:06,480
Speaker 2: you can sell one day or be bought one day

1212
00:50:06,880 --> 00:50:09,080
Speaker 2: or are you looking at it or in addition to

1213
00:50:09,120 --> 00:50:11,080
Speaker 2: are you looking at like I could see this company

1214
00:50:11,120 --> 00:50:12,000
Speaker 2: IP on one day?

1215
00:50:12,160 --> 00:50:12,279
Speaker 4: Right?

1216
00:50:12,360 --> 00:50:16,239
Speaker 6: Yeah, So I mean nine percent of all businesses in

1217
00:50:16,280 --> 00:50:18,680
Speaker 6: America are small businesses. That means that they're not like

1218
00:50:18,680 --> 00:50:21,759
Speaker 6: public trader, right. Yeah, we're definitely for companies that we

1219
00:50:21,800 --> 00:50:24,879
Speaker 6: believe in. The hitters we were. We understand how hard

1220
00:50:24,880 --> 00:50:26,480
Speaker 6: it is to get to that point, you know, hard like,

1221
00:50:26,600 --> 00:50:28,640
Speaker 6: So we're not saying we're not We're not only and

1222
00:50:28,640 --> 00:50:30,680
Speaker 6: that's always getting We're not only onboarding companies that we

1223
00:50:30,680 --> 00:50:32,799
Speaker 6: think are gonna be hitters, right, We're onboarding companies that

1224
00:50:33,520 --> 00:50:37,280
Speaker 6: are successful. They're providing service to the community, they're providing product.

1225
00:50:38,160 --> 00:50:40,960
Speaker 6: Maybe they have the opportunity to get sold by strategic

1226
00:50:41,040 --> 00:50:42,440
Speaker 6: I think. So what ends up happening is that the

1227
00:50:42,440 --> 00:50:44,560
Speaker 6: investors that come to the portal and invest those are

1228
00:50:44,560 --> 00:50:46,600
Speaker 6: the questions that they have to ask, right. So we're

1229
00:50:46,600 --> 00:50:50,000
Speaker 6: literally we're providing the menu of investments, right, but they

1230
00:50:50,000 --> 00:50:51,640
Speaker 6: have to run diligence on their end in terms of

1231
00:50:51,640 --> 00:50:54,560
Speaker 6: what success looks like. And I really assessed whether it's

1232
00:50:54,560 --> 00:50:56,400
Speaker 6: going to be the next big thing or it's going

1233
00:50:56,440 --> 00:50:57,879
Speaker 6: to be something that I own. That's kind of cool

1234
00:50:57,920 --> 00:50:59,200
Speaker 6: that I own it. I can kind of tell my

1235
00:50:59,239 --> 00:51:01,880
Speaker 6: friends and I own it as well, and hopefully it

1236
00:51:01,880 --> 00:51:02,840
Speaker 6: gets bought out by a.

1237
00:51:02,840 --> 00:51:09,840
Speaker 5: Strategic So is there any scenario where somebody is investing

1238
00:51:09,840 --> 00:51:11,960
Speaker 5: in a company and they can make money if the

1239
00:51:12,000 --> 00:51:14,120
Speaker 5: company isn't purchased or if it doesn't go public, like

1240
00:51:14,160 --> 00:51:16,960
Speaker 5: if the company just still remain private. But yeah, extremely

1241
00:51:17,120 --> 00:51:21,319
Speaker 5: profitable business like dividen Like, yeah, there's any scenario where

1242
00:51:21,320 --> 00:51:23,040
Speaker 5: you can still make money if the company is not

1243
00:51:23,040 --> 00:51:24,280
Speaker 5: purchased or if there's not co public.

1244
00:51:24,360 --> 00:51:25,120
Speaker 4: So twofold, So we.

1245
00:51:25,080 --> 00:51:28,840
Speaker 6: Decided to start a bar bar you know, whether whatever

1246
00:51:28,840 --> 00:51:29,879
Speaker 6: barrow you want to be in New York.

1247
00:51:29,920 --> 00:51:31,759
Speaker 4: But we just started to start a bar in Brooklyn. Right,

1248
00:51:31,760 --> 00:51:32,879
Speaker 4: we're gonna have everybody to go there.

1249
00:51:33,000 --> 00:51:35,839
Speaker 6: As owners, we can say like we're gonna do distributions, right,

1250
00:51:35,960 --> 00:51:38,279
Speaker 6: like you know, monthly distributions based on the revenue. So

1251
00:51:38,320 --> 00:51:40,600
Speaker 6: as an owner, as an as a as a founder,

1252
00:51:40,640 --> 00:51:41,080
Speaker 6: you have that.

1253
00:51:41,080 --> 00:51:42,560
Speaker 4: Ability to do distributions as well.

1254
00:51:43,080 --> 00:51:46,200
Speaker 6: I'll give you a more a better example when you

1255
00:51:46,200 --> 00:51:47,759
Speaker 6: think about like they're really you can do real estate

1256
00:51:47,760 --> 00:51:49,680
Speaker 6: through equity crow moundy as well. You're like you can

1257
00:51:49,680 --> 00:51:50,960
Speaker 6: think about all the people that are in that space,

1258
00:51:51,000 --> 00:51:52,520
Speaker 6: and you guys both know are better than I do. Right.

1259
00:51:52,520 --> 00:51:55,000
Speaker 6: It's like, hey, I want to go buy property outside

1260
00:51:55,000 --> 00:51:56,920
Speaker 6: of Tuskegee, Right, I want to buy a.

1261
00:51:56,840 --> 00:52:00,000
Speaker 4: Thirty million dollars ten million dollars you know, fifty unit

1262
00:52:00,120 --> 00:52:01,280
Speaker 4: it you piece of property.

1263
00:52:01,360 --> 00:52:04,160
Speaker 6: Right now, you can aggregate your friends and say, hey,

1264
00:52:04,200 --> 00:52:06,160
Speaker 6: we're going to buy this structure. We're going to raise

1265
00:52:06,920 --> 00:52:08,680
Speaker 6: but I know that is equity, get the rest in debt,

1266
00:52:08,719 --> 00:52:10,319
Speaker 6: whatever the case may be. We're going to create this

1267
00:52:10,400 --> 00:52:12,640
Speaker 6: entity to get to raise the equity. We're going to

1268
00:52:12,680 --> 00:52:15,719
Speaker 6: buy this property, and so the rent roll right can

1269
00:52:15,760 --> 00:52:17,840
Speaker 6: be sent out as distribution. So yes, you can do

1270
00:52:17,880 --> 00:52:20,960
Speaker 6: that through equity crowdfunding. We're looking at a franchise, like

1271
00:52:20,960 --> 00:52:23,080
Speaker 6: there's a food franchise company that we're a food company

1272
00:52:23,120 --> 00:52:25,680
Speaker 6: that's one that's franchising and they're getting ready to build

1273
00:52:25,680 --> 00:52:27,480
Speaker 6: a new location and there they want to create an

1274
00:52:27,680 --> 00:52:31,480
Speaker 6: LLC or identity that's going to allow them to raise capital, right,

1275
00:52:31,600 --> 00:52:33,680
Speaker 6: and so that entity is going to be a co

1276
00:52:33,840 --> 00:52:36,640
Speaker 6: owner in that food franchise, right, and there's going to

1277
00:52:36,719 --> 00:52:38,400
Speaker 6: be distributions that are paid. So it depends on how

1278
00:52:38,440 --> 00:52:41,240
Speaker 6: you as an entrepreneur, structure your business. It's literally equipment.

1279
00:52:41,360 --> 00:52:42,680
Speaker 4: I came to you. I'm like, hey, I own this bar,

1280
00:52:42,840 --> 00:52:44,080
Speaker 4: all right, Like how do we get paid?

1281
00:52:44,080 --> 00:52:47,240
Speaker 6: Well, we get paid by distributions back to the investors

1282
00:52:47,239 --> 00:52:47,600
Speaker 6: as well.

1283
00:52:48,160 --> 00:52:50,439
Speaker 5: So and then from all right, so we talked about

1284
00:52:50,440 --> 00:52:53,040
Speaker 5: it from a business owner, but from an investor.

1285
00:52:53,680 --> 00:52:54,280
Speaker 4: The process.

1286
00:52:54,320 --> 00:52:57,239
Speaker 5: They go on the website, yep, they create a using

1287
00:52:57,239 --> 00:53:01,040
Speaker 5: any password, they fill out a list of to make

1288
00:53:01,080 --> 00:53:03,520
Speaker 5: sure that they're not hurting themselves by doing stuff that's

1289
00:53:03,520 --> 00:53:06,680
Speaker 5: too risky. I like that if they unlimited, how how

1290
00:53:06,960 --> 00:53:08,400
Speaker 5: many companies they can invest in?

1291
00:53:08,600 --> 00:53:11,799
Speaker 4: Yeah, it's a answer the last question.

1292
00:53:11,880 --> 00:53:14,479
Speaker 6: First, you can invest in many companies that keep people

1293
00:53:14,520 --> 00:53:17,160
Speaker 6: below that threshold based on your income right ten percent

1294
00:53:17,200 --> 00:53:20,279
Speaker 6: of whatever case may be. But the process the reason

1295
00:53:20,280 --> 00:53:21,440
Speaker 6: why I kind of got excited because.

1296
00:53:21,239 --> 00:53:21,880
Speaker 4: I'm just reminded.

1297
00:53:22,000 --> 00:53:23,080
Speaker 6: So when you go to the when you go to

1298
00:53:23,120 --> 00:53:25,600
Speaker 6: any portal, you're going to send you popular, your name,

1299
00:53:25,680 --> 00:53:27,919
Speaker 6: your birthday, They're going to ask you for your social right.

1300
00:53:27,960 --> 00:53:29,279
Speaker 4: And I'm many in our commune like yo, like why

1301
00:53:29,280 --> 00:53:29,760
Speaker 4: do they ask.

1302
00:53:29,600 --> 00:53:31,400
Speaker 6: Me for my social Like camps go on Amazon and

1303
00:53:31,440 --> 00:53:32,960
Speaker 6: go buy like and I was like buying a product

1304
00:53:33,000 --> 00:53:33,880
Speaker 6: on Amazon is different.

1305
00:53:33,960 --> 00:53:35,239
Speaker 4: And the reason why they ask you for your social

1306
00:53:35,239 --> 00:53:35,799
Speaker 4: because they.

1307
00:53:35,680 --> 00:53:38,279
Speaker 6: Are KYC laws like know your client laws right, and

1308
00:53:38,280 --> 00:53:40,600
Speaker 6: moneylaundrink and so forth. Once again, this is a thinra

1309
00:53:40,800 --> 00:53:42,719
Speaker 6: sec government process, right, So we want to make sure

1310
00:53:42,719 --> 00:53:45,200
Speaker 6: that the money is coming from exactly who they're who's

1311
00:53:45,239 --> 00:53:47,360
Speaker 6: supposed to be coming from and it's all in good standing.

1312
00:53:47,400 --> 00:53:49,879
Speaker 6: So they'll ask you for like that demo information. It's

1313
00:53:49,920 --> 00:53:52,400
Speaker 6: all safely secured. And then you go on the portal

1314
00:53:52,400 --> 00:53:54,560
Speaker 6: and you see whatever company that you like. You literally

1315
00:53:54,560 --> 00:53:56,239
Speaker 6: click invest now in a prompt and you want to

1316
00:53:56,280 --> 00:53:58,399
Speaker 6: pay by wire, you want to pay my credit card,

1317
00:53:58,520 --> 00:54:00,759
Speaker 6: you want to mail in a check. And then once

1318
00:54:00,840 --> 00:54:03,560
Speaker 6: you once you submit invest now, you make your payment.

1319
00:54:03,640 --> 00:54:06,160
Speaker 6: Then you receive a document that says you are an

1320
00:54:06,239 --> 00:54:08,760
Speaker 6: owner in the x y Z company. And then obviously

1321
00:54:08,800 --> 00:54:11,200
Speaker 6: that owner receives your information. They required to interface with

1322
00:54:11,239 --> 00:54:13,600
Speaker 6: you for the next two years at least once a year.

1323
00:54:13,719 --> 00:54:15,480
Speaker 6: But you can invest as many companies as you want,

1324
00:54:15,880 --> 00:54:17,600
Speaker 6: just to contingent upon your own balance sheet.

1325
00:54:18,719 --> 00:54:20,520
Speaker 2: Is there a number of companies that you're looking to

1326
00:54:20,560 --> 00:54:23,560
Speaker 2: have a whole each year? Yeah, like a quota like

1327
00:54:23,560 --> 00:54:25,719
Speaker 2: we this is the goal for the year, we want

1328
00:54:25,719 --> 00:54:26,720
Speaker 2: to have this many companies.

1329
00:54:26,800 --> 00:54:28,359
Speaker 4: So the family wanted to have ten, so they had

1330
00:54:28,360 --> 00:54:29,480
Speaker 4: ten this year. Who's the family?

1331
00:54:29,480 --> 00:54:32,000
Speaker 6: So the family is of thirty or forty individual So

1332
00:54:32,040 --> 00:54:36,600
Speaker 6: it's literally the network, right of people or resources that

1333
00:54:36,640 --> 00:54:37,840
Speaker 6: are available to every issuer.

1334
00:54:37,960 --> 00:54:38,120
Speaker 4: Right.

1335
00:54:38,200 --> 00:54:40,600
Speaker 6: So like there's a leadership team of seven like cmos

1336
00:54:40,640 --> 00:54:43,520
Speaker 6: you know, chief onboarding person and so forth. But in

1337
00:54:43,600 --> 00:54:46,239
Speaker 6: terms of the collective network, right, what they want to do,

1338
00:54:46,280 --> 00:54:47,680
Speaker 6: and like I said, it's like what you should think

1339
00:54:47,680 --> 00:54:48,000
Speaker 6: about it?

1340
00:54:48,040 --> 00:54:48,920
Speaker 4: Man.

1341
00:54:49,120 --> 00:54:52,200
Speaker 6: So I'm from I'm from La or Long Beach specifically,

1342
00:54:52,840 --> 00:54:55,160
Speaker 6: my parents, my grandparents came from Texas.

1343
00:54:55,239 --> 00:54:56,360
Speaker 4: Right when it came from Texas.

1344
00:54:56,520 --> 00:54:58,360
Speaker 6: My grandfather was a World War two vat when he

1345
00:54:58,400 --> 00:55:00,640
Speaker 6: came to when he came to Long Beach, they all

1346
00:55:00,680 --> 00:55:02,719
Speaker 6: pass I hold, people from Texas and his community all

1347
00:55:02,719 --> 00:55:05,359
Speaker 6: pass the hat to build a church, right, and so

1348
00:55:05,400 --> 00:55:08,200
Speaker 6: like the family effectively passed the hat to build the church.

1349
00:55:08,440 --> 00:55:09,960
Speaker 6: Seat at the table, right, and it's like a place

1350
00:55:09,960 --> 00:55:11,279
Speaker 6: where we can call home and so forth. So that's

1351
00:55:11,320 --> 00:55:13,960
Speaker 6: what I mean by that. Gotcha? So but no, what

1352
00:55:14,000 --> 00:55:15,040
Speaker 6: was I'm sorry, what was the question that I was

1353
00:55:15,040 --> 00:55:16,239
Speaker 6: going to do? That is the question as far as

1354
00:55:16,239 --> 00:55:18,040
Speaker 6: how many come.

1355
00:55:18,160 --> 00:55:18,319
Speaker 5: Yeah.

1356
00:55:18,360 --> 00:55:20,080
Speaker 6: So the goal was initially to have ten in the

1357
00:55:20,080 --> 00:55:22,719
Speaker 6: first year, and we've accomplished that. In twenty twenty two,

1358
00:55:22,800 --> 00:55:24,319
Speaker 6: we want to have at least twenty. Now with this

1359
00:55:24,400 --> 00:55:26,439
Speaker 6: show and some of the other media that we're starting

1360
00:55:26,440 --> 00:55:28,359
Speaker 6: to do, it's gonna be crazy, right, And so like

1361
00:55:28,360 --> 00:55:30,480
Speaker 6: I said, we are we're we're we're not going to

1362
00:55:30,480 --> 00:55:33,359
Speaker 6: tell people know without reason or wealth for well said,

1363
00:55:33,360 --> 00:55:34,719
Speaker 6: you know, probably it's not the right time. You got

1364
00:55:34,719 --> 00:55:36,120
Speaker 6: to think be a little bit more thoughtful about how

1365
00:55:36,120 --> 00:55:37,920
Speaker 6: you're going to raise your capital. But what we do

1366
00:55:38,040 --> 00:55:40,520
Speaker 6: is that we'll literally hand you to other resources that

1367
00:55:40,560 --> 00:55:42,200
Speaker 6: they get you ready. Right, Like we said, we asked

1368
00:55:42,200 --> 00:55:43,839
Speaker 6: the next question and we take the next step. So

1369
00:55:44,120 --> 00:55:45,680
Speaker 6: to answer your question, we want to have at least

1370
00:55:45,680 --> 00:55:48,799
Speaker 6: twenty companies on the part of twenty twenty two and

1371
00:55:48,840 --> 00:55:51,439
Speaker 6: then you know twenty three are probably twenty to forty. Right,

1372
00:55:51,480 --> 00:55:53,319
Speaker 6: But we don't want to make it like we're like

1373
00:55:53,320 --> 00:55:55,319
Speaker 6: we're focused on value, because we still want to be

1374
00:55:56,040 --> 00:55:57,880
Speaker 6: we want to have the ability to touch every company

1375
00:55:58,200 --> 00:55:59,640
Speaker 6: right to the extent that they want to be like

1376
00:56:00,080 --> 00:56:01,040
Speaker 6: touch and have the support.

1377
00:56:01,800 --> 00:56:04,080
Speaker 4: So like that it's a fair balance with ideally twenty

1378
00:56:04,160 --> 00:56:05,160
Speaker 4: twenty companies for this year.

1379
00:56:05,600 --> 00:56:08,239
Speaker 5: So I just want to ask a question about your

1380
00:56:08,680 --> 00:56:12,280
Speaker 5: day to day job. Yeah, you do venture capital, diligence

1381
00:56:12,360 --> 00:56:16,200
Speaker 5: evaluation or portfolio. Can you just talk like what exactly

1382
00:56:16,239 --> 00:56:16,520
Speaker 5: is that?

1383
00:56:16,840 --> 00:56:16,920
Speaker 4: So?

1384
00:56:17,040 --> 00:56:20,720
Speaker 6: Yeah, So so my day to day is it's pretty

1385
00:56:20,719 --> 00:56:22,279
Speaker 6: cool man a sense that like I'm no longer wearing

1386
00:56:22,280 --> 00:56:22,879
Speaker 6: a student tie.

1387
00:56:22,960 --> 00:56:25,680
Speaker 4: I'm like, hoodie, get to show my tattoos, airbag.

1388
00:56:25,800 --> 00:56:27,960
Speaker 6: I mean like, So, we're going to a digital marketing

1389
00:56:28,000 --> 00:56:31,239
Speaker 6: agency and they have this machine AI like that's been

1390
00:56:31,280 --> 00:56:32,960
Speaker 6: around for nine years, and what it can do is

1391
00:56:33,000 --> 00:56:35,799
Speaker 6: it can forecast revenue growth with ninety percent accuracy. So

1392
00:56:35,800 --> 00:56:37,960
Speaker 6: what it does it it'll latch onto a company's analytics

1393
00:56:37,960 --> 00:56:41,560
Speaker 6: like Google Analytics, Good Email, Shopify and so forth, and

1394
00:56:41,600 --> 00:56:44,319
Speaker 6: it'll say, based on this data, if you invest this

1395
00:56:44,400 --> 00:56:47,759
Speaker 6: dollar amount or this timeframe in digital marketing, it's going

1396
00:56:47,800 --> 00:56:51,440
Speaker 6: to produce ten x and dollar figures right return with

1397
00:56:51,520 --> 00:56:54,440
Speaker 6: once again ninety percent accuracy. So my clients are you

1398
00:56:54,440 --> 00:56:58,960
Speaker 6: know the Carlisles TPGs, you know, you know blackstones of

1399
00:56:59,000 --> 00:57:02,440
Speaker 6: the world, right venture capital names or capital sponsors. And

1400
00:57:02,440 --> 00:57:03,879
Speaker 6: what they do is they come to us and they

1401
00:57:03,880 --> 00:57:06,080
Speaker 6: pay us for the technology and they say, hey, can

1402
00:57:06,120 --> 00:57:09,080
Speaker 6: you evaluate this company that we're going to end up

1403
00:57:09,080 --> 00:57:11,359
Speaker 6: buying our investment in, right, and so we'll come at

1404
00:57:11,400 --> 00:57:12,640
Speaker 6: all I see is dell flow in terms of the

1405
00:57:12,640 --> 00:57:14,839
Speaker 6: companies that are doing a million dollars in revenue that's

1406
00:57:14,840 --> 00:57:17,200
Speaker 6: getting ready to get proper VC money. Our company that's

1407
00:57:17,240 --> 00:57:19,160
Speaker 6: doing one hundred million dollars in revenue that we consume

1408
00:57:19,240 --> 00:57:21,680
Speaker 6: are a billion dollars in revenue. But they'll take that technology.

1409
00:57:21,680 --> 00:57:23,520
Speaker 6: And what it does is that the tech is called Nova.

1410
00:57:24,080 --> 00:57:26,280
Speaker 6: What it does is that it'll de risk an investment.

1411
00:57:26,360 --> 00:57:26,520
Speaker 4: Right.

1412
00:57:26,560 --> 00:57:28,480
Speaker 6: So now it takes the guests work out of like

1413
00:57:28,560 --> 00:57:30,200
Speaker 6: how if we bought this company, how much we have

1414
00:57:30,280 --> 00:57:31,360
Speaker 6: to put into digital marketing?

1415
00:57:31,480 --> 00:57:31,680
Speaker 4: Right?

1416
00:57:32,200 --> 00:57:34,600
Speaker 6: And so what's pretty what's cool about it for entrepreneurs

1417
00:57:34,800 --> 00:57:37,560
Speaker 6: and you know, we make sure that the seed family

1418
00:57:38,440 --> 00:57:40,640
Speaker 6: seed entrepreneurs that coming to the portal, they have access

1419
00:57:40,640 --> 00:57:41,760
Speaker 6: to that technology at.

1420
00:57:41,640 --> 00:57:42,360
Speaker 4: A discount and rate.

1421
00:57:42,400 --> 00:57:44,720
Speaker 6: Of course, what's cool about it is it takes the

1422
00:57:44,760 --> 00:57:47,280
Speaker 6: guest work out of your use of proceed slide. So

1423
00:57:47,280 --> 00:57:48,880
Speaker 6: when you think about like an investment pitch bus, I'm

1424
00:57:48,880 --> 00:57:50,560
Speaker 6: sharing you guys have seen plenty of them. They're typically

1425
00:57:50,560 --> 00:57:53,120
Speaker 6: like ten to fifteen slides. There's always that one slide

1426
00:57:53,120 --> 00:57:55,160
Speaker 6: where it's like use of proceeds, and like the US

1427
00:57:55,200 --> 00:57:57,240
Speaker 6: to proceed slide is like this pie chart's like, hey,

1428
00:57:57,320 --> 00:57:59,360
Speaker 6: I want to raise a million dollars, fifty percent is

1429
00:57:59,360 --> 00:58:01,480
Speaker 6: going to go towards head account, twenty five percent is

1430
00:58:01,480 --> 00:58:03,280
Speaker 6: going to go towards marketing. The other twenty five is

1431
00:58:03,320 --> 00:58:05,840
Speaker 6: like toards some other ancillary calls. That twenty five percent

1432
00:58:05,920 --> 00:58:08,760
Speaker 6: towards marketing is very vague, right, And so with Nova,

1433
00:58:08,840 --> 00:58:12,880
Speaker 6: it literally specifies which digital marketing channels, which subchannels that

1434
00:58:12,920 --> 00:58:15,600
Speaker 6: you're going to run, which time frame, and more importantly,

1435
00:58:15,840 --> 00:58:16,720
Speaker 6: what's the return.

1436
00:58:16,480 --> 00:58:17,080
Speaker 4: Of that investment.

1437
00:58:17,120 --> 00:58:18,840
Speaker 6: So you're raised a million, you're putting two hundred fifty

1438
00:58:18,880 --> 00:58:21,840
Speaker 6: thousand towards digital marketing. NOVA will tell you that if

1439
00:58:21,880 --> 00:58:23,200
Speaker 6: you put the two hundred and fifty thousand that you

1440
00:58:23,280 --> 00:58:25,920
Speaker 6: put into marketing, it's going to return a million dollars,

1441
00:58:25,920 --> 00:58:27,560
Speaker 6: like a four return or two million dollars.

1442
00:58:27,600 --> 00:58:27,760
Speaker 4: Right.

1443
00:58:27,840 --> 00:58:30,120
Speaker 6: So, now you go to your investors and you're trying

1444
00:58:30,160 --> 00:58:31,880
Speaker 6: to raise cap when you're asking them for money, like, hey,

1445
00:58:32,040 --> 00:58:33,920
Speaker 6: so the investor knows that if I cut you a

1446
00:58:34,000 --> 00:58:36,440
Speaker 6: check for one hundred thousand dollars, twenty five percent of

1447
00:58:36,440 --> 00:58:38,080
Speaker 6: that is going towards digital marketing and it's going to

1448
00:58:38,400 --> 00:58:40,560
Speaker 6: result in you know, two hundred thousand dollars or whatever.

1449
00:58:40,680 --> 00:58:44,600
Speaker 6: Do whatever the row ass or the return on adsmen, maybe,

1450
00:58:44,640 --> 00:58:47,440
Speaker 6: so Nova is strong. AI been around for you know,

1451
00:58:47,480 --> 00:58:49,840
Speaker 6: for nine years. So all I do is talk to

1452
00:58:49,920 --> 00:58:53,520
Speaker 6: P and VC investors and literally attaching that technology to

1453
00:58:53,560 --> 00:58:57,160
Speaker 6: their investors their diligence process like they're doing like operations, logistic,

1454
00:58:58,000 --> 00:59:00,320
Speaker 6: financial diligence. They looking through the numbers that we purely

1455
00:59:00,360 --> 00:59:02,960
Speaker 6: coming in and looking at digital marketing diligence. So I

1456
00:59:02,960 --> 00:59:05,480
Speaker 6: don't know, I always like to come varying gifts and

1457
00:59:05,480 --> 00:59:07,240
Speaker 6: we talked about this a little bit earlier, man, But

1458
00:59:07,760 --> 00:59:09,440
Speaker 6: I'm a big fan of the show, a big fan

1459
00:59:09,480 --> 00:59:12,320
Speaker 6: of like the education and the mentoring that you all doing.

1460
00:59:12,360 --> 00:59:14,200
Speaker 6: So what I would like to do, so the technology

1461
00:59:14,440 --> 00:59:16,480
Speaker 6: no potically goes to like twenty to forty thousand, that's

1462
00:59:16,520 --> 00:59:18,280
Speaker 6: what I sell on a day to day basis. What

1463
00:59:18,320 --> 00:59:19,600
Speaker 6: I would like to do is I would like to

1464
00:59:19,680 --> 00:59:22,280
Speaker 6: extend note it's called Noba diligence. I will like to

1465
00:59:22,320 --> 00:59:27,120
Speaker 6: extend a noble diligence audit to one of your your students, right,

1466
00:59:27,160 --> 00:59:28,920
Speaker 6: and you guys can determine what that looks like and

1467
00:59:28,960 --> 00:59:30,120
Speaker 6: maybe you announced the winner.

1468
00:59:30,480 --> 00:59:31,960
Speaker 4: Maybe we go to the gathering spot, we go to

1469
00:59:32,040 --> 00:59:32,520
Speaker 4: hilltop in.

1470
00:59:32,560 --> 00:59:34,800
Speaker 6: La right, but like we announce the winning back once again.

1471
00:59:34,800 --> 00:59:38,200
Speaker 6: It's like you guys are worked with so many entrepreneurs,

1472
00:59:38,600 --> 00:59:41,919
Speaker 6: so you know it's an opportunity for them to get

1473
00:59:41,920 --> 00:59:43,600
Speaker 6: their use of proceeds slide together.

1474
00:59:43,880 --> 00:59:45,720
Speaker 4: Run this technology. If it's like a.

1475
00:59:45,840 --> 00:59:50,320
Speaker 6: B to B company, it can approximate lead leads like

1476
00:59:50,520 --> 00:59:53,320
Speaker 6: the lead lead generation with ninety percent accuracy as well,

1477
00:59:53,360 --> 00:59:55,480
Speaker 6: so it doesn't have to be e commerce D two C.

1478
00:59:55,600 --> 00:59:57,000
Speaker 4: It can also work in the B to B space.

1479
00:59:57,040 --> 00:59:59,240
Speaker 6: But to see the table family would like to cover

1480
00:59:59,280 --> 01:00:03,040
Speaker 6: the costs of one of the nova diligence for one

1481
01:00:03,080 --> 01:00:03,640
Speaker 6: of your students.

1482
01:00:03,640 --> 01:00:05,000
Speaker 5: So I appreciate that.

1483
01:00:05,400 --> 01:00:06,200
Speaker 4: I appreciate that.

1484
01:00:06,560 --> 01:00:08,760
Speaker 5: What we'll do with somebody from EO University because you

1485
01:00:08,760 --> 01:00:10,400
Speaker 5: have like twelve other people in there, so a lot

1486
01:00:10,440 --> 01:00:12,640
Speaker 5: of business owners in India, So we'll find a way

1487
01:00:12,680 --> 01:00:14,880
Speaker 5: to kind of see who would be the best fit. Sure,

1488
01:00:16,080 --> 01:00:19,560
Speaker 5: and then yeah, well we'll extend that and connected dots

1489
01:00:19,600 --> 01:00:19,760
Speaker 5: on it.

1490
01:00:19,840 --> 01:00:21,520
Speaker 6: Yeah, and I would say tap in with us seat

1491
01:00:21,520 --> 01:00:23,480
Speaker 6: to the table dot com. I'm at seat of the

1492
01:00:23,520 --> 01:00:26,240
Speaker 6: table on all social media platforms. You can find me

1493
01:00:26,240 --> 01:00:29,440
Speaker 6: on LinkedIn Pierre Leveo, L E, Space v A u X.

1494
01:00:29,680 --> 01:00:32,400
Speaker 6: I'm pretty active on there. If people don't know me

1495
01:00:32,360 --> 01:00:34,640
Speaker 6: that I'm always like about passing information, passing the balls,

1496
01:00:34,720 --> 01:00:37,200
Speaker 6: Like there's some way I can be helpful, even if

1497
01:00:37,200 --> 01:00:39,480
Speaker 6: it's not a fit for seating the table. Like, there's

1498
01:00:39,520 --> 01:00:41,360
Speaker 6: so many people in the network that I think that

1499
01:00:42,320 --> 01:00:44,440
Speaker 6: I just like to see us work together. Right, So

1500
01:00:44,760 --> 01:00:46,440
Speaker 6: if there is a company that you know is not

1501
01:00:46,480 --> 01:00:48,520
Speaker 6: in a position yet to raise equiprofit, and that's okay.

1502
01:00:48,520 --> 01:00:50,200
Speaker 4: There are tons of other resources that I know of.

1503
01:00:50,960 --> 01:00:53,520
Speaker 6: For example, the company that worked the nine to five

1504
01:00:53,840 --> 01:00:56,240
Speaker 6: Power Digital, we have an accelerator, right that I helped.

1505
01:00:56,240 --> 01:00:57,360
Speaker 4: I was instributed on creating.

1506
01:00:57,360 --> 01:00:59,720
Speaker 6: We're taking slots, like I've been positioning all my friends

1507
01:01:00,040 --> 01:01:01,880
Speaker 6: to get an accelerator, Like you know love takes send

1508
01:01:01,880 --> 01:01:03,640
Speaker 6: that to your network. So with that accelerator, what they're

1509
01:01:03,640 --> 01:01:07,040
Speaker 6: doing is they're the digital Marketing shop is donating two

1510
01:01:07,080 --> 01:01:11,360
Speaker 6: hours of free digital marketing services per month, right, and

1511
01:01:11,400 --> 01:01:13,360
Speaker 6: so like now you can talk about your paid search,

1512
01:01:13,360 --> 01:01:15,240
Speaker 6: paid media and you can like get.

1513
01:01:15,040 --> 01:01:17,400
Speaker 4: The expertise or have access to expertise.

1514
01:01:17,840 --> 01:01:20,880
Speaker 6: So we're taking, we're taking participants for that accelerator. There

1515
01:01:20,880 --> 01:01:23,160
Speaker 6: are tons of like resources that I've come across and

1516
01:01:23,200 --> 01:01:25,040
Speaker 6: then in the network as well, So I want to

1517
01:01:25,040 --> 01:01:27,440
Speaker 6: make sure that I continue to be an extension of

1518
01:01:27,480 --> 01:01:29,680
Speaker 6: all of you and extension of everybody else that's.

1519
01:01:29,520 --> 01:01:30,240
Speaker 4: In your network too.

1520
01:01:30,600 --> 01:01:33,920
Speaker 5: I appreciate that. So what's next? What's next? Seed at

1521
01:01:33,920 --> 01:01:34,360
Speaker 5: the Table?

1522
01:01:34,600 --> 01:01:34,760
Speaker 4: Man.

1523
01:01:34,800 --> 01:01:37,720
Speaker 6: We're trying to you know, onboard as many companies as possible,

1524
01:01:38,000 --> 01:01:41,720
Speaker 6: help them raise capital. You know, I can't go into

1525
01:01:41,760 --> 01:01:45,320
Speaker 6: too much detail in terms of like the financial trajectory

1526
01:01:45,360 --> 01:01:48,040
Speaker 6: of the firm, but ideally, you know, we think about

1527
01:01:48,080 --> 01:01:51,680
Speaker 6: our premises making space for the community to participate in

1528
01:01:51,720 --> 01:01:54,280
Speaker 6: the products that they are consuming. Ideally we will make

1529
01:01:54,280 --> 01:01:57,000
Speaker 6: space for the community to participate in you know, the

1530
01:01:57,040 --> 01:01:59,520
Speaker 6: economics of seat at the table. So that's definitely forthcoming

1531
01:02:00,080 --> 01:02:01,600
Speaker 6: within the next year. When what I mean by that,

1532
01:02:01,640 --> 01:02:03,960
Speaker 6: it's like the opportunity for the community to actually invest

1533
01:02:04,000 --> 01:02:06,680
Speaker 6: in skate at the table, right, and so like that

1534
01:02:06,800 --> 01:02:10,160
Speaker 6: is critical to us. You know, we pride ourselves on

1535
01:02:10,240 --> 01:02:12,880
Speaker 6: being communal. It's not about one person. And that's why

1536
01:02:12,880 --> 01:02:14,320
Speaker 6: you can hear me say family, family, it is you know,

1537
01:02:14,360 --> 01:02:17,120
Speaker 6: it's like it's like like making sure that everybody has space,

1538
01:02:17,160 --> 01:02:20,160
Speaker 6: so more users, more investors to come to the portal

1539
01:02:20,200 --> 01:02:22,439
Speaker 6: to invest in the amazing companies that we have, right

1540
01:02:22,480 --> 01:02:25,360
Speaker 6: but still being diligent about their processes, understanding that they

1541
01:02:25,400 --> 01:02:26,600
Speaker 6: can lose money and gotta get educated.

1542
01:02:26,640 --> 01:02:27,720
Speaker 4: Always got to give up this slavor.

1543
01:02:27,920 --> 01:02:28,120
Speaker 5: Right.

1544
01:02:28,320 --> 01:02:31,040
Speaker 6: But also a company is coming to the portal that

1545
01:02:31,120 --> 01:02:33,600
Speaker 6: are raising capital and then you know, they raise capital

1546
01:02:33,640 --> 01:02:35,840
Speaker 6: and we continue to be helpful to them after the raise. Right,

1547
01:02:35,920 --> 01:02:38,720
Speaker 6: So five years from now we can say that we launch,

1548
01:02:39,120 --> 01:02:40,800
Speaker 6: or even three years, three or four years, we launch

1549
01:02:40,800 --> 01:02:43,560
Speaker 6: one hundred companies and one or two are bangers in

1550
01:02:43,560 --> 01:02:45,680
Speaker 6: a sense of like an IPO or maybe they need

1551
01:02:45,680 --> 01:02:48,400
Speaker 6: like a like a crazy series A for twenty five

1552
01:02:48,400 --> 01:02:50,240
Speaker 6: million or a B for fifty million.

1553
01:02:50,520 --> 01:02:52,480
Speaker 4: And I know that I was able to provide a platform.

1554
01:02:52,520 --> 01:02:54,480
Speaker 6: We were able to provide a platform where the community

1555
01:02:54,520 --> 01:02:56,720
Speaker 6: was able to like participate in that journey.

1556
01:02:56,960 --> 01:02:57,720
Speaker 4: Like that is success.

1557
01:02:57,720 --> 01:03:00,520
Speaker 6: It's the only black companies blackroun so you know, like

1558
01:03:00,560 --> 01:03:01,440
Speaker 6: anything of the diaspora.

1559
01:03:01,480 --> 01:03:03,080
Speaker 4: But but that said, we're opening.

1560
01:03:03,080 --> 01:03:04,920
Speaker 6: And so I just got an email from a gentleman

1561
01:03:04,920 --> 01:03:07,440
Speaker 6: who's like, hey, you know, I'm not a diverse entrepreneur,

1562
01:03:07,600 --> 01:03:09,360
Speaker 6: Can I come to the platform, Like, yeah, you definitely can.

1563
01:03:09,960 --> 01:03:12,320
Speaker 6: We're open to it. But we are just very intentional

1564
01:03:12,360 --> 01:03:14,400
Speaker 6: about making sure that there are space for focuses for

1565
01:03:14,520 --> 01:03:17,000
Speaker 6: black and yeah. So we don't like anybody can come

1566
01:03:17,040 --> 01:03:18,880
Speaker 6: on the portal, yeah, but the focus to make sure

1567
01:03:18,920 --> 01:03:20,920
Speaker 6: that we want the community to know that we exist,

1568
01:03:21,400 --> 01:03:25,040
Speaker 6: right and for the in comparison to the other portals

1569
01:03:25,040 --> 01:03:28,560
Speaker 6: that are out there, you know, we understand your journey, right,

1570
01:03:28,600 --> 01:03:30,560
Speaker 6: we understand your challenge because the ends up happening, man,

1571
01:03:30,600 --> 01:03:32,960
Speaker 6: especially with VC, for a lot of the service providers,

1572
01:03:32,960 --> 01:03:35,320
Speaker 6: they're like, oh, I want to raise xCE nine dollars.

1573
01:03:35,320 --> 01:03:36,600
Speaker 4: They're like, oh, just go ask your friends.

1574
01:03:36,920 --> 01:03:39,040
Speaker 6: It's like there's a lot of things that that business

1575
01:03:39,040 --> 01:03:41,919
Speaker 6: excuse me, that demo takes for granted, right, that isn't

1576
01:03:41,960 --> 01:03:44,240
Speaker 6: really relevant to our community. Right, It's like, oh, like

1577
01:03:44,480 --> 01:03:47,040
Speaker 6: legal costs are only fifty thousand dollars, Like that's expensive,

1578
01:03:47,080 --> 01:03:48,800
Speaker 6: Like don't I don't have that right now?

1579
01:03:48,920 --> 01:03:49,080
Speaker 4: Right?

1580
01:03:49,120 --> 01:03:51,560
Speaker 6: And so we're a bit more patient in the sense

1581
01:03:51,600 --> 01:03:54,520
Speaker 6: that we understand like how burdens some are expensive that community.

1582
01:03:54,520 --> 01:03:56,240
Speaker 6: So we're going to try to provide a resource to

1583
01:03:56,280 --> 01:03:58,280
Speaker 6: you that is a little bit more cost friendly, right

1584
01:03:58,360 --> 01:04:00,920
Speaker 6: as well, But yeah, anybody can come to the portal.

1585
01:04:01,360 --> 01:04:03,280
Speaker 6: We just I think it's important, man. It'd be like,

1586
01:04:03,280 --> 01:04:06,400
Speaker 6: you know, intentional about the service that we're providing and

1587
01:04:06,400 --> 01:04:08,320
Speaker 6: that the community that we're focused on. And this is

1588
01:04:08,600 --> 01:04:10,680
Speaker 6: so what's crazy that this is before all the uprising

1589
01:04:10,720 --> 01:04:12,720
Speaker 6: and everything that happened over the past year. So c

1590
01:04:13,000 --> 01:04:16,160
Speaker 6: was actually approved by SEC and Fenera in December twenty

1591
01:04:16,680 --> 01:04:18,720
Speaker 6: twenty twenty. They didn't go to the public in terms

1592
01:04:18,720 --> 01:04:22,160
Speaker 6: of putting companies on the portal to July twenty one.

1593
01:04:22,400 --> 01:04:24,000
Speaker 6: So you think about that time frame, there was so

1594
01:04:24,080 --> 01:04:26,240
Speaker 6: much money slashing around in terms of like you know,

1595
01:04:26,280 --> 01:04:28,480
Speaker 6: guilt money, right in terms of yeah, all these firms

1596
01:04:28,480 --> 01:04:30,920
Speaker 6: like you gotta spend money, yeah, yeah, gotta Yeah. It's

1597
01:04:31,000 --> 01:04:33,360
Speaker 6: like so the team was like they're anxious, been like

1598
01:04:33,400 --> 01:04:34,560
Speaker 6: we should like really get it up, and that's the

1599
01:04:34,560 --> 01:04:36,200
Speaker 6: Clubhouse was still kind of popping a little bit, like

1600
01:04:36,360 --> 01:04:38,440
Speaker 6: like they're like, oh, we need something for us, like

1601
01:04:38,480 --> 01:04:40,280
Speaker 6: a portal for us and support our businesses.

1602
01:04:40,320 --> 01:04:41,040
Speaker 4: And we were anxious.

1603
01:04:41,080 --> 01:04:43,160
Speaker 6: We wanted to go to go to market, but we

1604
01:04:43,160 --> 01:04:45,000
Speaker 6: were very intentional on our end to make sure that

1605
01:04:45,000 --> 01:04:47,800
Speaker 6: the user experience flawless is very similar to like working

1606
01:04:47,920 --> 01:04:49,840
Speaker 6: like with the Goldman, right in a sense that we

1607
01:04:49,840 --> 01:04:51,800
Speaker 6: didn't want to rush the market and have any mishaps

1608
01:04:51,880 --> 01:04:53,720
Speaker 6: or any glitches. So we were very patient and and

1609
01:04:53,800 --> 01:04:56,120
Speaker 6: want to make sure that everything was in place the

1610
01:04:56,240 --> 01:04:57,560
Speaker 6: right way before we.

1611
01:04:57,560 --> 01:04:58,080
Speaker 4: Went to market.

1612
01:04:58,120 --> 01:05:00,600
Speaker 6: So opening anybody, but we were int to make sure

1613
01:05:00,600 --> 01:05:02,320
Speaker 6: that the community knows that we exist.

1614
01:05:02,120 --> 01:05:04,560
Speaker 2: Yea, rather than asking for a seat at the table,

1615
01:05:05,000 --> 01:05:07,720
Speaker 2: created the table literally and planning the seas yep.

1616
01:05:07,760 --> 01:05:10,080
Speaker 6: Literally, that's like that is that is the goal man

1617
01:05:10,120 --> 01:05:13,400
Speaker 6: and the name resident randomly. I mean, you know, I

1618
01:05:13,440 --> 01:05:15,560
Speaker 6: appreciate the album, like the or the song, but like

1619
01:05:15,680 --> 01:05:17,560
Speaker 6: the name resonate, like we literally don't have any seat

1620
01:05:17,600 --> 01:05:19,200
Speaker 6: at the table. And so when I was a banker

1621
01:05:19,200 --> 01:05:20,360
Speaker 6: in New York, I used to see so much, like

1622
01:05:20,400 --> 01:05:21,640
Speaker 6: I said, I used to see so much deal flow

1623
01:05:21,680 --> 01:05:22,960
Speaker 6: and so many opportunities to generate.

1624
01:05:23,000 --> 01:05:25,600
Speaker 4: Well, but I was the only dude in the room, right,

1625
01:05:25,640 --> 01:05:26,480
Speaker 4: and I didn't always have a.

1626
01:05:26,480 --> 01:05:28,400
Speaker 6: Bag enough to participate, right, But like I knew so

1627
01:05:28,400 --> 01:05:31,240
Speaker 6: many people that could, and I felt I.

1628
01:05:31,160 --> 01:05:32,439
Speaker 4: Was just frustrated by it.

1629
01:05:32,600 --> 01:05:33,960
Speaker 6: And I think that you know, now we're in a

1630
01:05:33,960 --> 01:05:37,400
Speaker 6: position that continue to ask you know institutional excuse me,

1631
01:05:37,520 --> 01:05:40,080
Speaker 6: ask the institutions for calvil. You can go that route,

1632
01:05:40,120 --> 01:05:42,280
Speaker 6: you should, right or at least consider it. But now

1633
01:05:42,440 --> 01:05:44,240
Speaker 6: be mindful of the fact that you can literally raise

1634
01:05:44,280 --> 01:05:47,840
Speaker 6: among your own community, right, and like that's like that's

1635
01:05:47,880 --> 01:05:51,440
Speaker 6: exciting to me, right to create something and allow space

1636
01:05:51,440 --> 01:05:54,240
Speaker 6: for your community to be involved in, but also to

1637
01:05:54,280 --> 01:05:56,480
Speaker 6: allow along those lines to allow them to like really

1638
01:05:56,480 --> 01:05:59,120
Speaker 6: participate in the growth journey, right, and like to really

1639
01:05:59,200 --> 01:06:01,880
Speaker 6: be an owner and something. So everybody doesn't have twenty

1640
01:06:01,880 --> 01:06:04,880
Speaker 6: five thousand dollars to make that minimum friends and family investment.

1641
01:06:04,920 --> 01:06:07,560
Speaker 6: You may have a thousand, right or you gonna you know,

1642
01:06:07,600 --> 01:06:09,840
Speaker 6: you can you can kind of accumulate it from a

1643
01:06:09,920 --> 01:06:12,320
Speaker 6: volume perspective as opposed to just being one person or

1644
01:06:12,320 --> 01:06:13,040
Speaker 6: cutting one check.

1645
01:06:13,880 --> 01:06:14,400
Speaker 4: That's dope.

1646
01:06:14,520 --> 01:06:17,080
Speaker 5: So I encourage everybody at least just to check it

1647
01:06:17,080 --> 01:06:20,040
Speaker 5: out for educational purposes. Go on the website, look, read,

1648
01:06:20,080 --> 01:06:22,000
Speaker 5: do get due diligence. You might say, okay, this this

1649
01:06:22,080 --> 01:06:24,640
Speaker 5: is a sports company. I find it's interesting. I find

1650
01:06:24,920 --> 01:06:27,200
Speaker 5: you know, this is a company that's specialized in how

1651
01:06:27,200 --> 01:06:30,800
Speaker 5: to you know, bring farming to the new age technology.

1652
01:06:30,840 --> 01:06:32,560
Speaker 5: You know, it's a good education Because I'm as soon,

1653
01:06:32,600 --> 01:06:34,040
Speaker 5: like they have bios you can actually.

1654
01:06:33,720 --> 01:06:35,600
Speaker 6: Read and you interface with them and everything. It's all

1655
01:06:35,640 --> 01:06:37,800
Speaker 6: like all so the pump, the comments have to be

1656
01:06:37,840 --> 01:06:40,520
Speaker 6: public sec can so like and I encourage you to

1657
01:06:40,560 --> 01:06:42,920
Speaker 6: go on you know, talk to the companies, ask them

1658
01:06:42,920 --> 01:06:45,400
Speaker 6: what their exit plan is, right and like I like

1659
01:06:45,480 --> 01:06:47,080
Speaker 6: ask us like get up to speed, educate Like you

1660
01:06:47,080 --> 01:06:49,320
Speaker 6: guys are all big about education, Like educate yourself. And

1661
01:06:49,320 --> 01:06:52,880
Speaker 6: you have the ability to interface on the portal as well. Yeah,

1662
01:06:53,080 --> 01:06:54,880
Speaker 6: go there and learn reach out to us. We are

1663
01:06:55,040 --> 01:06:58,240
Speaker 6: we continue to look for companies to onboard as well. Right,

1664
01:06:59,000 --> 01:07:01,640
Speaker 6: you know, I'm would never be overwhelmed by by the

1665
01:07:01,640 --> 01:07:03,120
Speaker 6: amount of companies that reach out to us, because at

1666
01:07:03,160 --> 01:07:04,440
Speaker 6: the end of the day, even if they are not

1667
01:07:04,480 --> 01:07:06,840
Speaker 6: a fit for us, again, you know, we're happy to

1668
01:07:06,880 --> 01:07:08,520
Speaker 6: hand them off to somebody else that we think is

1669
01:07:08,640 --> 01:07:09,480
Speaker 6: as another.

1670
01:07:09,240 --> 01:07:09,880
Speaker 4: As a better fit.

1671
01:07:10,000 --> 01:07:12,280
Speaker 6: So please continue to you know, keep us in mind

1672
01:07:12,920 --> 01:07:14,640
Speaker 6: when you know that when that person is asking you,

1673
01:07:14,760 --> 01:07:16,720
Speaker 6: like when your friend is asking to raise capital, say hey,

1674
01:07:16,760 --> 01:07:18,760
Speaker 6: have you ever thought about raising through sea at the table?

1675
01:07:19,440 --> 01:07:20,960
Speaker 6: And it's a great resources session for people that get

1676
01:07:21,000 --> 01:07:23,400
Speaker 6: hit up all the time in terms of being investors,

1677
01:07:23,400 --> 01:07:25,760
Speaker 6: Like now you have a platform where you can raise

1678
01:07:25,960 --> 01:07:27,480
Speaker 6: a word, entrepreneurs.

1679
01:07:27,000 --> 01:07:29,640
Speaker 4: Can raise among their community, their friend networks and so forth.

1680
01:07:30,440 --> 01:07:32,640
Speaker 5: Appreciate it. Brother, can you tell them again.

1681
01:07:32,560 --> 01:07:36,080
Speaker 6: Like the West, Yeah, man, Www dot C at the

1682
01:07:36,080 --> 01:07:39,280
Speaker 6: table dot com. It's a seed S E E d

1683
01:07:40,040 --> 01:07:43,920
Speaker 6: on I G LinkedIn. It's at seed at the table.

1684
01:07:44,760 --> 01:07:47,200
Speaker 6: You know you can email us email us at info

1685
01:07:47,280 --> 01:07:49,560
Speaker 6: at sea to the table dot com. Uh, you know,

1686
01:07:49,840 --> 01:07:51,920
Speaker 6: I see all the emails. The team sees all the emails,

1687
01:07:52,200 --> 01:07:53,080
Speaker 6: but tap in with us.

1688
01:07:53,080 --> 01:07:54,600
Speaker 4: Man. We are we are among the community.

1689
01:07:54,920 --> 01:07:56,480
Speaker 6: You know, we are everywhere in terms of the family,

1690
01:07:56,560 --> 01:07:59,000
Speaker 6: like you know, you know, we're we're here to be

1691
01:07:59,120 --> 01:08:00,600
Speaker 6: a resource and I and that's one thing.

1692
01:08:00,600 --> 01:08:02,400
Speaker 4: And like I'm glad you know we're talking about this

1693
01:08:02,400 --> 01:08:02,640
Speaker 4: out a lot.

1694
01:08:02,680 --> 01:08:04,520
Speaker 6: We're trying to do more media right because we've been

1695
01:08:04,520 --> 01:08:06,360
Speaker 6: like very stealth bone and turns like you know, black

1696
01:08:06,360 --> 01:08:08,440
Speaker 6: posts work really hard, work really hard, and I'm show

1697
01:08:08,480 --> 01:08:10,320
Speaker 6: them in the end right now, or you know, making

1698
01:08:10,320 --> 01:08:11,800
Speaker 6: sure that we kind of show them now because it's

1699
01:08:11,800 --> 01:08:13,440
Speaker 6: important for us the community to know about us as

1700
01:08:13,440 --> 01:08:14,600
Speaker 6: opposed to one the competitors.

1701
01:08:14,600 --> 01:08:16,720
Speaker 4: Like had I known how to work with Sea at

1702
01:08:16,760 --> 01:08:19,920
Speaker 4: the Table. Yeah, see the table dot com at seats the.

1703
01:08:19,880 --> 01:08:21,880
Speaker 6: Table in all you know forms of social media. Please

1704
01:08:22,120 --> 01:08:24,080
Speaker 6: email us if you have any questions. Want to get

1705
01:08:24,160 --> 01:08:25,559
Speaker 6: up to speed. I want to learn a couple of things,

1706
01:08:26,240 --> 01:08:29,000
Speaker 6: and you know, do your research, you know, understand the

1707
01:08:29,080 --> 01:08:31,160
Speaker 6: risk of equity cloud funding, and just you know, make

1708
01:08:31,160 --> 01:08:33,040
Speaker 6: sure when you're talking to entrepreneurs you always.

1709
01:08:32,800 --> 01:08:35,080
Speaker 4: Ask, like what is the exit opportunity? Appreciate it.

1710
01:08:35,120 --> 01:08:38,120
Speaker 2: But I got a good feeling that those emails are

1711
01:08:38,120 --> 01:08:39,920
Speaker 2: gonna yeah after this, Yeah.

1712
01:08:39,960 --> 01:08:41,479
Speaker 6: I love it, man Like, I don't say that, Like

1713
01:08:42,080 --> 01:08:43,559
Speaker 6: I said, even if it's not a fit. Man Like,

1714
01:08:43,680 --> 01:08:46,439
Speaker 6: there's like there are other either donation based cloud funding

1715
01:08:46,439 --> 01:08:50,040
Speaker 6: portals or like incubators that I think are worth you

1716
01:08:50,040 --> 01:08:53,000
Speaker 6: know the conversation. Right, So, and there are tons like

1717
01:08:53,000 --> 01:08:56,439
Speaker 6: even like positioning firms to work with, you know, giving

1718
01:08:56,479 --> 01:08:59,240
Speaker 6: them access to besides the one that we were sponsoring for.

1719
01:08:59,240 --> 01:09:01,240
Speaker 4: You guys like them access to Nova. Right.

1720
01:09:01,280 --> 01:09:03,599
Speaker 6: It's like when man, when I was in banker at Goldman,

1721
01:09:03,640 --> 01:09:04,800
Speaker 6: like they let me in the shop. I used to

1722
01:09:04,920 --> 01:09:07,200
Speaker 6: always try to quoe uquote hook people up and put

1723
01:09:07,200 --> 01:09:09,320
Speaker 6: them in like to conferences that they part historically wouldn't

1724
01:09:09,320 --> 01:09:10,120
Speaker 6: been able to be in our rooms.

1725
01:09:10,120 --> 01:09:11,439
Speaker 4: That the historical wouldn't been able to be in.

1726
01:09:11,920 --> 01:09:13,880
Speaker 6: That's the same way like I navigate see at the table,

1727
01:09:13,920 --> 01:09:14,960
Speaker 6: that's the same way I navigate.

1728
01:09:15,720 --> 01:09:16,880
Speaker 4: You know, nova technology, Like.

1729
01:09:16,880 --> 01:09:19,240
Speaker 6: If I can be helpful and I know that, you

1730
01:09:19,280 --> 01:09:20,960
Speaker 6: know it's going to add value to somebody else, like

1731
01:09:21,160 --> 01:09:22,320
Speaker 6: and I know that the person I'm giving it to

1732
01:09:22,439 --> 01:09:24,320
Speaker 6: is gonna be responsible and it's not gonna be a waste.

1733
01:09:24,320 --> 01:09:26,400
Speaker 4: I'm gonna plug you for sure. Man. So shout out

1734
01:09:26,400 --> 01:09:28,360
Speaker 4: to the family. Yeah, shout out to the family.

1735
01:09:28,360 --> 01:09:31,160
Speaker 2: So like a mafia, right, It's like, Yo, it's almost

1736
01:09:31,200 --> 01:09:33,080
Speaker 2: like a syndic Yeah, shout out to the family.

1737
01:09:33,120 --> 01:09:35,920
Speaker 4: Shout out to all the ernest on Eyo University. I

1738
01:09:35,920 --> 01:09:36,679
Speaker 4: know we love y'all.

1739
01:09:36,800 --> 01:09:38,880
Speaker 2: It's over twelve thousand members there, so I definitely I'm

1740
01:09:38,880 --> 01:09:40,040
Speaker 2: sure they're gonna check theirself.

1741
01:09:40,120 --> 01:09:41,760
Speaker 4: And I shout out to the entire merch team.

1742
01:09:41,880 --> 01:09:45,280
Speaker 2: Obviously, you see, we got some some fripful ourselves might

1743
01:09:45,320 --> 01:09:46,880
Speaker 2: be who's been hooking us up with that We got

1744
01:09:46,920 --> 01:09:49,360
Speaker 2: some some real cool stuff coming and uh yeah, man,

1745
01:09:49,400 --> 01:09:49,880
Speaker 2: love is love.

1746
01:09:49,920 --> 01:09:51,599
Speaker 4: Thank you for all the support. Man. We'll be back

1747
01:09:51,680 --> 01:09:52,439
Speaker 4: with y'all next week.

1748
01:09:52,720 --> 01:09:55,679
Speaker 6: Gradulate you both on what you've accomplished and like I said,

1749
01:09:55,720 --> 01:09:57,800
Speaker 6: we we we we've come across each other and we

1750
01:09:58,000 --> 01:10:02,160
Speaker 6: like shared similar spaces. But what I mentioned what's important

1751
01:10:02,160 --> 01:10:04,160
Speaker 6: is like what people say outside of you, right, and

1752
01:10:04,200 --> 01:10:05,880
Speaker 6: it's like obviously you're doing this, but like at the

1753
01:10:05,920 --> 01:10:08,280
Speaker 6: same time people are like other good dudes. It's like humans. Right,

1754
01:10:08,320 --> 01:10:11,439
Speaker 6: It's like like that's like that's capital, that's welcomed me now.

1755
01:10:11,479 --> 01:10:11,920
Speaker 4: Like I saw that.

1756
01:10:12,080 --> 01:10:14,400
Speaker 6: I saw a form of aspect of the bag when

1757
01:10:14,439 --> 01:10:16,519
Speaker 6: I was working on washing, like I got little ones. Man,

1758
01:10:16,560 --> 01:10:18,240
Speaker 6: it's all about that legacy. Like you know, I want

1759
01:10:18,240 --> 01:10:19,840
Speaker 6: somebody to pull up on my son and my daughter like, yo,

1760
01:10:19,840 --> 01:10:21,640
Speaker 6: I need your dad. He was he did X y

1761
01:10:21,760 --> 01:10:23,720
Speaker 6: Z and didn't ask in the back man. So tend

1762
01:10:23,760 --> 01:10:25,920
Speaker 6: my hat to what you guys are accomplished and actually

1763
01:10:25,920 --> 01:10:27,439
Speaker 6: what's in store. So definitely want to make sure I'm

1764
01:10:27,439 --> 01:10:29,479
Speaker 6: tapping into Yeah.

1765
01:10:29,520 --> 01:10:32,599
Speaker 2: Shout out to my man lou Tucker once again, Lewis Lewis,

1766
01:10:32,720 --> 01:10:35,040
Speaker 2: Nice Eli, l Lewis, Thank you.

1767
01:10:35,000 --> 01:10:36,679
Speaker 5: Guys for rock West. Will see you next week.

1768
01:10:36,760 --> 01:10:43,040
Speaker 3: Peace, peace, my graduates from my school being forced bad

1769
01:10:43,160 --> 01:10:47,760
Speaker 3: drop drop drop drop drop.

1770
01:10:58,640 --> 01:11:02,560
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