WEBVTT - Solving A Huge Problem Content Creators Are Facing Today 0:00:04.600 --> 0:00:07.680 So the big question is this, how do investors like 0:00:07.920 --> 0:00:11.800 us get access to the ideas, information, and most importantly, 0:00:12.039 --> 0:00:14.880 the right people that give us the tools and information 0:00:14.960 --> 0:00:19.000 we need to make informed and educated decisions to have success. 0:00:19.600 --> 0:00:22.319 That is the question, and this podcast will give us 0:00:22.400 --> 0:00:25.480 the answers. This is Mark Moss, your host. Let's get 0:00:25.520 --> 0:00:28.800 this started. Hello, and welcome to another episode of the 0:00:28.840 --> 0:00:32.839 Market Disruptors Podcast. Today, I am sitting down with Martin 0:00:33.000 --> 0:00:39.040 Floriani from rock Finn, and we get into platforms, social media, 0:00:39.720 --> 0:00:43.240 content creators, etcetera. We talked about this growing niche, this 0:00:43.400 --> 0:00:46.600 growing area of content creation, the growing demand. We talked 0:00:46.600 --> 0:00:50.559 about the problems that content creators um face regarding that, 0:00:50.680 --> 0:00:53.479 and then we talk about how there are solutions for 0:00:53.520 --> 0:00:56.640 that today using blockchain technology. We talk about his company, 0:00:56.720 --> 0:00:58.959 rock Fin what they're doing in this space. We get 0:00:59.000 --> 0:01:02.480 into lots of interests seen things including Facebook and Twitter, 0:01:02.560 --> 0:01:05.280 censoring what that means legally, and so many other good things. 0:01:05.400 --> 0:01:07.399 Is a really good conversation. Let's go ahead, just jump 0:01:07.480 --> 0:01:09.520 right into it, all right, guys, welcome to another episode 0:01:09.520 --> 0:01:12.119 of the Market Disruptors Podcast. Today. I'm joined by Martin 0:01:12.160 --> 0:01:15.559 Floriani from Rock Finn and Uh, he's in a really 0:01:16.040 --> 0:01:19.240 interesting space and working on some really big problems that 0:01:19.240 --> 0:01:21.560 that are plaguing the industry, especially the way things are 0:01:21.640 --> 0:01:24.240 changed changing right now in the world. And so anyway, 0:01:24.280 --> 0:01:27.160 I'm excited to jump into this conversation. Martin, thanks for 0:01:27.200 --> 0:01:30.240 joining today, you bet. I love this. I love this 0:01:30.319 --> 0:01:32.760 kind of talk. All right, I love this kind of 0:01:32.800 --> 0:01:35.120 talk to you. I'm really looking forward to this. So Martin, 0:01:35.240 --> 0:01:37.440 for those that are listening, why don't you just give 0:01:37.480 --> 0:01:39.560 us a little background on on who you are, what 0:01:39.600 --> 0:01:41.759 you've been doing, and then how you ended up kind 0:01:41.760 --> 0:01:45.319 of in this blockchain space. Yeah, so I I think 0:01:45.319 --> 0:01:48.120 it would start about thirteen years ago. So thirteen years ago, 0:01:48.160 --> 0:01:53.440 I decided to create a digital media platform, UH called 0:01:53.520 --> 0:01:55.600 flow Sports. At the time, it's called flow Cast. We 0:01:55.800 --> 0:01:58.600 changed name, went to flow Sports. So co founded that, 0:01:59.400 --> 0:02:02.200 UH started that with CEO of that for about thirteen 0:02:02.240 --> 0:02:06.600 plus years, twelve, twelve and a half years, um and UM. 0:02:06.760 --> 0:02:09.600 And so essentially what we did is we saw a 0:02:09.720 --> 0:02:15.240 gap of right now. At that time, everything was linear, 0:02:15.560 --> 0:02:19.200 there was nothing digital. And what I noticed is that 0:02:20.240 --> 0:02:22.520 the big players, like the ESPN, the NBC S, they 0:02:22.560 --> 0:02:25.320 were a mile wide and inch deep across the whole 0:02:25.320 --> 0:02:27.640 school of sports. So they were just becoming thinner and 0:02:27.680 --> 0:02:31.760 thinner across all these many sports, and linear UM made 0:02:31.760 --> 0:02:34.440 it so that they really had to fragment their time. 0:02:34.480 --> 0:02:37.360 And so we I saw an opportunity. I saw an 0:02:37.360 --> 0:02:40.160 opportunity where saying, hey, let's let's actually be an inch 0:02:40.240 --> 0:02:43.000 wide and a mile deep within each sport, and let's 0:02:43.000 --> 0:02:46.520 go really let's try and go after all sorts of 0:02:46.600 --> 0:02:50.440 live right, let's go more in depth, in depth, authentic 0:02:50.520 --> 0:02:53.440 coverage of the sports as opposed to the surface level 0:02:53.880 --> 0:02:56.400 kind of It was basically bullshit, is what we saw. 0:02:56.960 --> 0:02:59.680 And so we decided to do that, and we called 0:02:59.680 --> 0:03:03.639 those those inch wide, mile deep verticals. And what we 0:03:03.720 --> 0:03:07.680 found out is that by aligning ourselves with people's passions, 0:03:07.680 --> 0:03:09.919 we were able to drive a much higher lifetime value 0:03:09.919 --> 0:03:14.160 per subscriber and UM and that made them home economic 0:03:14.280 --> 0:03:17.440 model work. And so we we we took that and 0:03:17.520 --> 0:03:19.680 ran with it. And in sports that you wouldn't think 0:03:19.720 --> 0:03:22.480 that there would be an economic model like RASCU, track 0:03:22.520 --> 0:03:24.920 and field, all kinds of like these third er sports, 0:03:24.919 --> 0:03:27.000 because we couldn't go after football, right, we didn't have 0:03:27.000 --> 0:03:29.239 any money. I was just we're just dudes, Right, we're 0:03:29.280 --> 0:03:32.360 just people trying to trying something and so um and 0:03:32.400 --> 0:03:33.960 so we just made it work and we grew the 0:03:34.000 --> 0:03:38.000 company from like zero to two fifty people. Um. They 0:03:38.040 --> 0:03:41.120 had really strong unit economics. We raised a couple of 0:03:41.200 --> 0:03:44.040 rounds of funding and uh, and so that was that 0:03:44.120 --> 0:03:46.920 was the start, And that's kind of a precursor to 0:03:47.360 --> 0:03:50.680 what rockfan Um is. So thirteen years ago, I mean, 0:03:50.720 --> 0:03:53.800 that was still kind of in the uh early days 0:03:53.840 --> 0:03:56.360 of the Internet when really like video streaming and all 0:03:56.360 --> 0:03:59.240 that kind of first started coming along. So you're basically 0:03:59.240 --> 0:04:02.800 taking all these it's down sports that weren't really publicly 0:04:02.880 --> 0:04:05.760 accessible or available and then kind of bringing them out 0:04:05.800 --> 0:04:08.720 and then finding users that were interested in those things. Yeah. 0:04:08.720 --> 0:04:13.200 So it's funny people think like inherently there's some sports 0:04:13.200 --> 0:04:15.840 that are better than others. But I wrestled in college. 0:04:16.160 --> 0:04:20.480 I loved wrestling. Yeah, better, better, better, Right, What does 0:04:20.520 --> 0:04:23.839 that mean? Yeah? Exactly, It's like there's just more storytelling 0:04:23.880 --> 0:04:26.880 around football, so it means more in our life. And 0:04:26.960 --> 0:04:29.800 so as this larger context people are betting on it, 0:04:29.839 --> 0:04:33.080 there's there's more social components and so that's better. But 0:04:33.400 --> 0:04:35.680 when I saw there was this wrestling community. I was like, 0:04:35.839 --> 0:04:39.600 this is awesome, and like, this is the most exciting stuff. 0:04:39.839 --> 0:04:43.919 I'd rather watch this with the right context than football. 0:04:44.000 --> 0:04:46.120 So I said, you know, there's actually there's there's a 0:04:46.120 --> 0:04:48.120 lot of value with these rights. They just need the 0:04:48.160 --> 0:04:50.600 more of the storytelling with it. We need to package 0:04:50.600 --> 0:04:54.600 these rights in a way that that makes sense economically. 0:04:54.760 --> 0:04:57.359 And if we can do that, we can build this 0:04:57.440 --> 0:05:00.359 out and and start to actually grow this works that 0:05:00.400 --> 0:05:03.800 were in through this storytelling. And so that's that's I mean, 0:05:03.960 --> 0:05:07.480 people say niche, but I just want to It's not 0:05:07.560 --> 0:05:10.000 like one's inherently better, it's just that one has not 0:05:10.080 --> 0:05:12.440 been tapped. And so that's kind of what our our 0:05:12.480 --> 0:05:15.760 purview was. Well, I think, uh, I think, you know, 0:05:15.839 --> 0:05:18.279 I I say actually quite a bit that I really 0:05:18.320 --> 0:05:22.560 think that the Internet is just now actually really starting 0:05:22.600 --> 0:05:25.599 to change the world. And part of that is because 0:05:25.600 --> 0:05:28.160 it's shifting our culture. And what the Internet is doing 0:05:28.279 --> 0:05:31.320 is allowing these niches to to to come out. Right 0:05:31.520 --> 0:05:34.479 now you can have all these little different specialties and 0:05:34.480 --> 0:05:36.840 there's like a corner of the world for everybody now 0:05:37.360 --> 0:05:40.000 and so I think that's a big feature. That's a 0:05:40.000 --> 0:05:43.400 big benefit, right, Yeah, benefit also probably a liability if 0:05:43.440 --> 0:05:46.080 you're thinking like, yeah, I mean, as you get more 0:05:46.080 --> 0:05:49.159 into politics, you hear a lot about uh you know, 0:05:49.240 --> 0:05:51.240 Ben Thompson talks a little bit about that. It's like 0:05:51.320 --> 0:05:54.280 you could find like the most perverse group and now 0:05:54.279 --> 0:05:57.520 they've got a community, right, So it's kind of like, yeah, 0:05:57.560 --> 0:06:00.719 the niches are all over good and bad at right. 0:06:00.720 --> 0:06:04.120 And so that's it's a really interesting dynamic with with 0:06:04.240 --> 0:06:06.599 the internet kind of what how it how it frat 0:06:06.720 --> 0:06:10.159 how it's able to create these communities across the world 0:06:10.640 --> 0:06:13.839 and make people feel comfortable within their own community good 0:06:13.839 --> 0:06:16.680 and bad. Yeah, I want to talk more about that specifically, 0:06:16.680 --> 0:06:18.280 but we'll table that, So go ahead and finish and 0:06:18.320 --> 0:06:20.440 tell us how you get to where you are. So 0:06:20.680 --> 0:06:23.640 uh So, twelve and a half years at at flow Sports, 0:06:23.720 --> 0:06:28.240 huge success. Everyone's a big win from it. And and 0:06:28.240 --> 0:06:30.480 when I left flow Sports, I want to think about 0:06:30.480 --> 0:06:33.240 what I wanted to do next. It was I want 0:06:33.279 --> 0:06:36.520 to do something big, and I just as I was 0:06:36.600 --> 0:06:40.560 growing these networks, I was negotiating a lot with my friends, 0:06:40.640 --> 0:06:44.000 people I loved in the industry. And when you do that, 0:06:45.360 --> 0:06:52.000 I'm very uh I I really could feel the leverage 0:06:52.040 --> 0:06:54.240 I had in these negotiations, especially after you do it 0:06:54.320 --> 0:06:57.200 like three times you touched start just having this gut 0:06:57.279 --> 0:06:59.000 feeling of like, wow, I have a lot of leverage 0:06:59.040 --> 0:07:02.280 here I don't have leverage. And because I was doing 0:07:02.320 --> 0:07:04.479 it with other people, it made me really the people 0:07:04.480 --> 0:07:07.040 that were my friends and people are respected, it made 0:07:07.040 --> 0:07:10.040 me also kind of be empathetic to their side. More 0:07:10.160 --> 0:07:13.680 so I was naturally empathetic to who I was negotiating with. 0:07:14.200 --> 0:07:17.200 And so I started to realize is that it was 0:07:17.240 --> 0:07:20.320 as an interesting dynamic. As we had more and more 0:07:20.400 --> 0:07:23.360 power in our network grew bigger and bigger, I had 0:07:23.400 --> 0:07:26.480 more and more leverage over everyone I was negotiating with, 0:07:27.200 --> 0:07:30.320 and I could extract more from them even as I 0:07:30.360 --> 0:07:32.960 was getting more and even as our valuation was going 0:07:32.960 --> 0:07:35.440 through the roof, And I was thinking, that's really interesting 0:07:35.520 --> 0:07:39.360 dynamic that the very people that have helped me build 0:07:39.400 --> 0:07:42.120 these networks. And I didn't really even formulate these thoughts 0:07:42.160 --> 0:07:44.440 until I after I left, But as I started to 0:07:44.480 --> 0:07:47.320 think about them, I couldn't understood. I kind of felt 0:07:47.360 --> 0:07:49.760 like there's something here. But then as I was breaking 0:07:49.800 --> 0:07:52.640 them down and thinking about what I wanted to do next, 0:07:52.680 --> 0:07:55.040 I found that that it was a really interesting dynamic 0:07:55.240 --> 0:07:58.680 that this took place, that as there's exponential value in 0:07:58.720 --> 0:08:01.000 the network, that let the net work has more leverage 0:08:01.040 --> 0:08:04.240 over the people that have how building. And remember that 0:08:04.320 --> 0:08:08.520 network wouldn't even be there without those people their fundamental part. 0:08:08.760 --> 0:08:11.600 But they're getting locked out of the increased all this 0:08:11.680 --> 0:08:13.440 increased value, and you start to I picked my head 0:08:13.480 --> 0:08:16.240 up from my own experience, started to look across the landscape. 0:08:17.160 --> 0:08:22.000 I mean, there ain't no clear example than YouTube. Sure, YouTube, YouTube, 0:08:22.080 --> 0:08:26.360 some estmates. Hundred billion dollars of equity has been built 0:08:26.400 --> 0:08:29.760 in YouTube, right, but what gets paid out to the 0:08:29.880 --> 0:08:35.680 creators is a fraction of that, and they they opt 0:08:35.720 --> 0:08:38.679 to skate that. Like Google will never report on YouTube's 0:08:38.760 --> 0:08:43.240 YouTube stuff, on YouTube's earnings because they don't want to 0:08:43.280 --> 0:08:46.800 give that information out to people. Right. And so I 0:08:47.200 --> 0:08:50.680 think that advantage of network works, that's just a that's 0:08:50.679 --> 0:08:53.319 just a principle of life. Right. So for example, UM, 0:08:53.360 --> 0:08:55.160 I speak a lot about investing, and I say you 0:08:55.160 --> 0:08:57.160 should have multiple streams of income, right that way if 0:08:57.160 --> 0:08:59.679 one drops off the of others. But also in like business, 0:08:59.720 --> 0:09:02.280 like as a business, you wouldn't just want one customer. 0:09:02.320 --> 0:09:04.400 The more customers you have if the big one leads 0:09:04.440 --> 0:09:07.160 you're not as affected. Um, and so obviously YouTube is 0:09:07.160 --> 0:09:09.280 the same, right, Like that that beauty pie or whatever 0:09:09.360 --> 0:09:12.079 left and he was like the largest guy. But like, 0:09:12.360 --> 0:09:14.560 does YouTube really care because that was in the big 0:09:14.559 --> 0:09:17.080 scheme of things. It was a small piece, right. Yeah, 0:09:17.160 --> 0:09:19.760 well I'd say I disagree. I don't think it's just 0:09:19.840 --> 0:09:22.960 like the other thing. So with digital networks, there's essentially 0:09:23.000 --> 0:09:26.600 you can quantify digital networks through something called metcast law, right, 0:09:26.920 --> 0:09:29.120 which says the value the network equals the number of 0:09:29.120 --> 0:09:32.320 nodes and the network squared, right, but value of each 0:09:32.400 --> 0:09:34.800 average value of each one of those notes. And so 0:09:35.559 --> 0:09:39.840 that's that's like the most powerful, the most powerful force 0:09:39.920 --> 0:09:43.240 in business. It's like it's like the next gen nuclear 0:09:43.360 --> 0:09:48.359 energy of all business models is uh model that leverages 0:09:48.520 --> 0:09:53.440 network effects, whereby a product or service becomes more valuable 0:09:53.440 --> 0:09:55.800 to its existing users the more people that use it. 0:09:56.440 --> 0:09:59.840 It's like if I had a T shirt business, right 0:10:00.000 --> 0:10:03.080 and selling T shirts, and I go out and sell 0:10:03.120 --> 0:10:05.640 T shirts, and every T shirt that I sell, all 0:10:05.720 --> 0:10:09.400 my existing T shirts that have already sold, get more comfortable, 0:10:09.960 --> 0:10:14.320 get a better like, get an update on the design, um, uh, 0:10:14.640 --> 0:10:18.720 have UH feel better? Just like that that would be 0:10:18.840 --> 0:10:21.920 the most profound thing in the world. Wait, wait, your 0:10:22.000 --> 0:10:25.920 your T shirt company would explode because every time everyone 0:10:25.960 --> 0:10:28.000 knows is hey, every time I get an update here, 0:10:28.360 --> 0:10:32.680 this gets better. That's what happens with digital networks. It 0:10:32.840 --> 0:10:35.959 isn't just like any other business. This is the most 0:10:36.440 --> 0:10:39.800 The companies that have had the biggest impact and the 0:10:39.840 --> 0:10:42.640 biggest success over the last twenty years have been companies 0:10:42.679 --> 0:10:46.800 that have leveraged digital network effects. Yeah, I mean the 0:10:46.640 --> 0:10:48.880 the Metcalfs law for those that aren't familiar with it, 0:10:48.920 --> 0:10:51.400 Like you're saying that the network effect. And it's basically 0:10:51.400 --> 0:10:52.640 like if I had a telephone and I was the 0:10:52.679 --> 0:10:54.080 only person in the world with a telephone, it's not 0:10:54.120 --> 0:10:57.120 very useful. I can't call anybody. Once there's two telephones, 0:10:57.160 --> 0:10:59.000 it's more useful. And when everybody has a telephone, they're 0:10:59.040 --> 0:11:01.440 super useful, which is like with Facebook. Now that everyone's 0:11:01.440 --> 0:11:05.000 on Facebook, it's more useful, etcetera. Um. And and so anyway, 0:11:05.040 --> 0:11:07.800 for those that don't know, that's Metcashlon and you're absolutely right, 0:11:08.000 --> 0:11:10.800 uh it the network is no good if nobody's using it, 0:11:10.840 --> 0:11:13.200 and the more people that use it, the better it is, right, Yeah, 0:11:13.320 --> 0:11:15.760 And so this is a new dynamic that humans have 0:11:15.760 --> 0:11:18.640 have encountered over the last fifty years. So it's really 0:11:18.679 --> 0:11:21.680 brand new for us. The power of it and how 0:11:21.760 --> 0:11:24.720 fast it moves. In the digital age, there's a different 0:11:25.240 --> 0:11:27.960 isn't just like what it was in nineteen eighty wasn't 0:11:28.000 --> 0:11:32.120 noways in nine This is a different force and the 0:11:32.120 --> 0:11:34.800 speed and power of it is completely unique. Now. It's 0:11:34.840 --> 0:11:39.760 interesting that the beneficiaries are the digital platforms and their stockholders. 0:11:39.760 --> 0:11:42.960 They get they get fucking rich, right, and then the 0:11:43.000 --> 0:11:45.960 content creator or the customers are happy because they get, 0:11:46.040 --> 0:11:48.560 you know, a new service. But in each one of 0:11:48.559 --> 0:11:53.760 these scenarios, the content creators are one getting commoditized, right. 0:11:53.840 --> 0:11:56.280 And so like that beauty Pie example you gave, oh 0:11:56.280 --> 0:11:59.440 he left YouTube, Well he YouTube can say that because 0:11:59.440 --> 0:12:01.520 they got a million know their content creators on the 0:12:01.559 --> 0:12:05.360 platform because of digital network effects, and they can start 0:12:05.400 --> 0:12:08.440 to leverage network against these content creators to say, hey, 0:12:09.280 --> 0:12:11.240 you know, you really want to stay on here and 0:12:11.280 --> 0:12:13.280 do some of your videos on here, right, to stay 0:12:13.280 --> 0:12:17.000 connected to your fans, to be found by new fans, 0:12:17.520 --> 0:12:21.280 to be relevant, and you don't want to just flat 0:12:21.320 --> 0:12:24.360 out leave. And so these we call this the creators 0:12:24.360 --> 0:12:27.360 de limit because the creators want access to the network 0:12:27.360 --> 0:12:31.120 that they helped build, but at the same time they 0:12:31.160 --> 0:12:33.120 don't want to be leveraged by the network. And then 0:12:33.120 --> 0:12:34.719 the network will say, you know what, we're going to 0:12:34.840 --> 0:12:37.679 change the rules. We need change the rules. I just 0:12:37.840 --> 0:12:41.040 moved that, just did something new for this. You're changing 0:12:41.040 --> 0:12:42.880 the rules. Yeah, we're changing the rules. Why can we 0:12:42.920 --> 0:12:45.240 do that? Well, because we own the network. We own 0:12:45.440 --> 0:12:48.840 we we own the data, and so they can figure 0:12:48.880 --> 0:12:52.319 out what does that and they don't. The content creators 0:12:52.520 --> 0:12:55.800 are not are not part of that upside. They're not 0:12:55.920 --> 0:12:59.640 part of the great aspects of network effects. They're commoditized 0:12:59.679 --> 0:13:02.439 by and that's the problem. And that's what a lot 0:13:02.480 --> 0:13:05.040 of the tension that you're starting to see is around 0:13:05.040 --> 0:13:08.200 these digital networks is around these content creators and the 0:13:08.240 --> 0:13:11.280 fact that they're not necessarily getting compensated or they don't 0:13:11.320 --> 0:13:14.400 know if they're being compensated properly, and the rules can 0:13:14.480 --> 0:13:17.240 change on them and they have to follow these algorithms 0:13:17.280 --> 0:13:19.120 that are faceless, and they don't get it. They don't 0:13:19.120 --> 0:13:21.160 get us, they don't get any say in it. In 0:13:21.200 --> 0:13:23.600 the let's let's let's open this up a little bit. 0:13:23.640 --> 0:13:26.400 So content creators which is what we're talking about at 0:13:26.400 --> 0:13:29.000 this moment, which is kind of this space that you're in. 0:13:29.440 --> 0:13:33.400 So content creators are anyone that's that's producing content, right obviously, 0:13:33.800 --> 0:13:36.120 um And and it's growing rapidly. I mean it's a 0:13:36.240 --> 0:13:39.880 it's a huge growing space because of the Internet. Like 0:13:39.880 --> 0:13:41.839 I said, right now everybody can make something for different 0:13:41.920 --> 0:13:45.160 niches and uh, I think it's really changed the world 0:13:45.160 --> 0:13:48.240 in the way that everybody learns, right and uh, it's 0:13:48.320 --> 0:13:52.800 changing the education system, is changing everything. And um, I 0:13:52.800 --> 0:13:54.720 think it's been really cool where like you used to 0:13:54.760 --> 0:13:57.480 have to get on a bigger platform like be in 0:13:57.600 --> 0:14:00.880 a magazine or newspaper or on a network television. But 0:14:00.920 --> 0:14:02.959 now anybody could just start a channel and just start 0:14:03.000 --> 0:14:06.680 talking about basket weaving in Africa or whatever, right, or 0:14:06.800 --> 0:14:09.440 or large dogs in the Midwest. Right. So I could 0:14:09.480 --> 0:14:12.439 just create this this channel. I don't need a network 0:14:12.480 --> 0:14:15.000 to do that. That's the content creators. And it's a 0:14:15.160 --> 0:14:17.800 rapidly growing space and I think it's only going to 0:14:17.840 --> 0:14:21.520 continue to expand. Um And. So you're saying there's a 0:14:21.640 --> 0:14:24.680 there's obviously, like with anything, there's there's problems in that, 0:14:25.440 --> 0:14:28.440 um and. And one of those problems is that those 0:14:28.480 --> 0:14:32.520 content creators are kind of trapped or kind of at 0:14:32.520 --> 0:14:35.920 the mercy of these these platforms that could change on 0:14:36.000 --> 0:14:40.160 any given whim. Right, is that kind of framing it up? Um? 0:14:40.240 --> 0:14:42.000 One of the big one of the big things that 0:14:42.040 --> 0:14:45.600 I've been paying attention to in this space now, UM, 0:14:45.800 --> 0:14:49.520 is that we've seen the big platforms today where the 0:14:49.560 --> 0:14:52.360 content creators are, which is YouTube We've obviously mentioned, and 0:14:52.400 --> 0:14:56.440 also you know, Facebook, Twitter, etcetera. Um, there's really just 0:14:56.520 --> 0:14:58.440 in the last like six months or eight months, there's 0:14:58.480 --> 0:15:03.120 been this massive push to d platform right, We've had 0:15:03.720 --> 0:15:05.840 the big one was Alex Jones with info Wars, but 0:15:05.880 --> 0:15:09.000 then Facebook kicked off like eight hundred accounts and not 0:15:09.080 --> 0:15:11.200 just right wing but right and left wing like anybody 0:15:11.240 --> 0:15:13.960 not toewing the line. We've seen it with Twitter and 0:15:14.000 --> 0:15:17.800 so YouTube people get shut down, et cetera. And that's 0:15:17.800 --> 0:15:19.520 also what you're talking about, right where they just change 0:15:19.520 --> 0:15:22.920 the rules on you in any given time. Um, Is 0:15:22.960 --> 0:15:24.640 that is that something that you see as a problem. 0:15:24.680 --> 0:15:26.160 Is that something that you're trying to solve, Like I 0:15:26.160 --> 0:15:30.520 guess is that like the censoring we'd call that. Yeah, So, 0:15:30.520 --> 0:15:32.680 so when you get you get into space that I'm 0:15:32.720 --> 0:15:37.200 in so I'm we leverage blockchain in a unique manner 0:15:37.360 --> 0:15:40.240 that I think is the one of the best use 0:15:40.280 --> 0:15:43.600 cases for actually using blockchain in a way that makes sense. 0:15:43.960 --> 0:15:46.640 There's a lot of projects out there now in that 0:15:46.920 --> 0:15:49.440 in that blockchain space, you get a lot of idealists 0:15:49.520 --> 0:15:54.400 who want to do everything decentralized and and create the 0:15:54.480 --> 0:15:59.120 perfect utopian product and and to me, it's just hard. 0:15:59.240 --> 0:16:03.320 So what we took approaches is we said, you know, 0:16:03.600 --> 0:16:07.840 ultimately rock fin is a centralized, delaware c core company. 0:16:08.200 --> 0:16:10.080 We can we can do a lot of that stuff. 0:16:10.120 --> 0:16:13.119 But if we're gonna do it, it's gonna be painful, 0:16:13.840 --> 0:16:17.040 and it's gonna be painful because the content creators know 0:16:17.120 --> 0:16:19.800 their true value to the system and all throughout the 0:16:19.840 --> 0:16:23.720 process through getting the value that their content generates from 0:16:23.720 --> 0:16:26.960 the network. And so one they have the information, there's 0:16:26.960 --> 0:16:31.200 no asymmetry of information. They actually know what what is 0:16:31.200 --> 0:16:33.160 going on in the platform, so they know their true 0:16:33.160 --> 0:16:36.960 worth and to UM they're getting the value that their 0:16:36.960 --> 0:16:40.560 content generate from the network and so UM so they 0:16:40.600 --> 0:16:43.320 have they have they have the piece of network. So 0:16:43.360 --> 0:16:46.840 if they move and leave, that will be more painful 0:16:46.840 --> 0:16:50.400 than what is the current UM. The current environment. So 0:16:50.440 --> 0:16:52.280 we're kind of set the stage. We can still do it, 0:16:52.320 --> 0:16:54.440 but it's just gonna be more painful. It's gonna be 0:16:54.720 --> 0:16:56.880 more visible the impact that it's going to have on 0:16:57.000 --> 0:16:59.720 what we're doing, and then that visibility gives other people 0:16:59.760 --> 0:17:03.520 atunities to compete with what we're doing as well. Right, So, 0:17:03.520 --> 0:17:06.280 so we don't I don't live in a utopian world 0:17:06.320 --> 0:17:09.240 where it's like, oh, we're never gonna do this, because 0:17:09.760 --> 0:17:12.600 you know, um I was. I was the CEO of 0:17:12.640 --> 0:17:15.720 Flow Sports for twelve plus two years. I wasn't there 0:17:15.760 --> 0:17:18.600 for infinite years. I was there for twelve plus years. 0:17:18.560 --> 0:17:20.840 A good day a right, but now there's not. Now 0:17:20.880 --> 0:17:23.840 there's someone else doing something, you might have different decision making, right, 0:17:23.880 --> 0:17:27.240 So that's gonna exist in everything. So our job is 0:17:27.240 --> 0:17:29.919 not to create utopian but just level the playing field, 0:17:30.320 --> 0:17:33.000 let it so that everyone can say, Okay, this is 0:17:33.040 --> 0:17:35.640 what's gonna happen. These are the these are the pain 0:17:35.680 --> 0:17:38.400 points that now the digital platform. We've introduced, pain points 0:17:38.440 --> 0:17:40.680 the digital platform is going to have if we don't, 0:17:40.920 --> 0:17:44.240 if we don't act properly. So that's what I would say. 0:17:44.240 --> 0:17:46.720 Our solution is, it's not like a full solution it's 0:17:46.720 --> 0:17:49.320 a half solution. We're just leveling the playing field, so 0:17:49.359 --> 0:17:51.639 to speak, with content and and playing level in the 0:17:51.640 --> 0:17:53.920 playing field in in a sense where you're sharing more 0:17:53.960 --> 0:17:58.160 of the revenue with the content creators, not revenue. So 0:17:58.240 --> 0:18:00.800 what we do is UM. So this is how we 0:18:01.000 --> 0:18:04.479 how we um, how we do block chain. So we 0:18:04.520 --> 0:18:07.200 give content. We're the first platform that gives content creators 0:18:07.200 --> 0:18:09.719 the full value that their content generates for the network 0:18:09.760 --> 0:18:14.000 and includes network effects. And so as when some customer 0:18:14.040 --> 0:18:16.600 comes down, they pay us nine dollars and cents to 0:18:16.640 --> 0:18:20.399 access all of the content creators. When that happens, in 0:18:20.480 --> 0:18:25.119 the background, we have, uh, we're connected to the Ray 0:18:25.200 --> 0:18:28.080 ecosystem and we have to burn, which for people who 0:18:28.119 --> 0:18:31.040 don't necessarily know what block you know blockchain vernacular, that 0:18:31.040 --> 0:18:34.640 means we have to destroy nine dollars and cents worth 0:18:34.640 --> 0:18:38.600 of rate tokens. And there's only a finite supply of RAY, 0:18:38.680 --> 0:18:41.159 so there'll only be thirty four million rate ever minted. 0:18:41.440 --> 0:18:45.160 And it comes out at a at a minting schedule 0:18:45.200 --> 0:18:48.400 that everybody can see and everybody can witness. So every 0:18:48.400 --> 0:18:50.639 customer that comes on, they pay us nine dollars with 0:18:50.680 --> 0:18:53.240 their credit card, nine dollars nine cents with their credit card. 0:18:53.280 --> 0:18:55.440 We go in the background, we burn nine dollars and 0:18:55.920 --> 0:18:58.600 cents worth of ray, and everybody can verify that we 0:18:58.640 --> 0:19:01.520 did that. Then what we do is is we look 0:19:01.520 --> 0:19:04.159 at the content that where and that's our way of 0:19:04.280 --> 0:19:08.720 transmitting value to the ray ecosystem and all the ray tokens. 0:19:08.720 --> 0:19:10.680 And so if you look at the full value of 0:19:10.720 --> 0:19:14.639 the network, it is all of the ray that is 0:19:14.640 --> 0:19:18.360 in the ecosystem multiplied by the ray price. And so 0:19:18.960 --> 0:19:22.280 what that creates that very that burn process creates an 0:19:22.320 --> 0:19:26.800 absolute necessity that we need to have ray to distribute 0:19:26.840 --> 0:19:30.320 these content creators uh content. So if we want to 0:19:30.320 --> 0:19:33.920 take in the next nine dollars and cents, we need ray. 0:19:34.119 --> 0:19:36.920 We need to have ray. And so what that creates 0:19:37.080 --> 0:19:40.040 is a demand. So we have this inherent demand and 0:19:40.200 --> 0:19:44.280 utility for this ray. And so as we get more customers, 0:19:44.440 --> 0:19:48.560 what do you think happens more demand? Hopefully we need 0:19:48.680 --> 0:19:51.760 we need more ray. We gotta burn more ray, right, 0:19:52.200 --> 0:19:55.040 and so that creates more demand on the system, and 0:19:55.080 --> 0:19:56.679 so we have to go out and get hey, we 0:19:56.720 --> 0:19:59.760 need more ray. If another digital platform wants to hook 0:19:59.800 --> 0:20:04.120 into the ray ecosystem, what happens to the demand for ray, 0:20:04.200 --> 0:20:08.120 it goes up right, And so this burning Mint system 0:20:08.240 --> 0:20:10.440 is the first of its kind that transmits the full 0:20:10.560 --> 0:20:14.959 value in an open, transparent, transparent way to content creators. Now, 0:20:15.000 --> 0:20:18.639 when there's about a day's worth of work. Um, so 0:20:18.720 --> 0:20:20.280 it happens about a day, and I don't want to 0:20:20.280 --> 0:20:23.120 get into all the specifics, but you could understand what there. 0:20:23.160 --> 0:20:26.359 You can go deep, dig deeper and understand the mechanics 0:20:26.440 --> 0:20:29.399 of of when the mints happened. But after day's worth 0:20:29.440 --> 0:20:33.520 of work, a mint happens, and a mint is introducing 0:20:33.560 --> 0:20:36.879 new ray into the ecosystem, and so that disdistributed to 0:20:37.040 --> 0:20:42.679 the content creators that helped acquire and retain the subscribers. 0:20:43.240 --> 0:20:45.359 And so then these content creators get this ray, and 0:20:45.400 --> 0:20:47.480 now they have an option. They can say, hey, I 0:20:47.480 --> 0:20:50.440 want to sell all my Ray, or they can say 0:20:50.480 --> 0:20:52.560 I want to sell half my ray, or they want 0:20:52.560 --> 0:20:55.320 to say I'm gonna keep my ray. Right, so now 0:20:55.359 --> 0:20:57.680 they have this option of saying, I have the stake 0:20:57.720 --> 0:20:59.879 in the network. I can dis liquidate it all for 0:21:00.040 --> 0:21:02.879 cash or I can keep it. And I say I 0:21:02.920 --> 0:21:04.880