1 00:00:01,400 --> 00:00:04,320 Speaker 1: I'm with Lucas and this is black tech, Green money. 2 00:00:05,200 --> 00:00:08,760 Speaker 1: Christopher Gray is the CEO and founder of Path in 3 00:00:08,840 --> 00:00:12,559 Speaker 1: AI power platform transforming the way students and professionals prepare 4 00:00:12,600 --> 00:00:17,880 Speaker 1: for critical exams. Before Path, Christopher co founded Scolli and 5 00:00:17,920 --> 00:00:20,759 Speaker 1: That to help students find scholarships for college and pay 6 00:00:20,760 --> 00:00:25,439 Speaker 1: off student debt. Scolly gained national attention on ABC Shark Tank, 7 00:00:25,680 --> 00:00:28,240 Speaker 1: securing a deal with Damie John and Lord Grinder and 8 00:00:28,280 --> 00:00:32,240 Speaker 1: sparking the biggest debate and shows history. With over five 9 00:00:32,280 --> 00:00:35,320 Speaker 1: million users, Skolly helps students secure over one hundred million 10 00:00:35,360 --> 00:00:38,960 Speaker 1: in scholarships and was ultimately acquired by Sally May. So 11 00:00:39,120 --> 00:00:43,199 Speaker 1: you are already a successful founder. You've already built, you know, 12 00:00:43,440 --> 00:00:49,360 Speaker 1: one amazing company in Scollie. And I wonder, you know, 13 00:00:49,400 --> 00:00:51,680 Speaker 1: before we talk about what you're doing now, I wonder. 14 00:00:51,479 --> 00:00:52,600 Speaker 2: Like, what did you learn? 15 00:00:52,920 --> 00:00:55,520 Speaker 1: Like what is the hardest lesson you learned while scaling 16 00:00:55,560 --> 00:00:56,440 Speaker 1: that company? 17 00:00:57,560 --> 00:01:00,720 Speaker 3: I think that you know, the thing I learned about 18 00:01:00,720 --> 00:01:05,080 Speaker 3: scaling that organization is really really being mindful of having 19 00:01:05,120 --> 00:01:08,080 Speaker 3: the right business model from the start. I think that 20 00:01:08,800 --> 00:01:11,440 Speaker 3: you know and thinking about that. I launched the company 21 00:01:11,480 --> 00:01:15,120 Speaker 3: on charting. So I was in college and three months 22 00:01:15,120 --> 00:01:17,760 Speaker 3: where I graduated, So I really honestly didn't know what 23 00:01:17,760 --> 00:01:19,680 Speaker 3: I was doing. I half my co founder and if 24 00:01:19,680 --> 00:01:22,280 Speaker 3: you developers in a room, we were just getting all 25 00:01:22,280 --> 00:01:24,880 Speaker 3: that traffic, so really thinking, you know, and that was 26 00:01:24,880 --> 00:01:27,200 Speaker 3: like really the biggest one of the biggest high traffic 27 00:01:27,240 --> 00:01:29,800 Speaker 3: moments from the start, you know, since we've had so 28 00:01:29,880 --> 00:01:31,880 Speaker 3: I think, you know, reallyant and our at was nine 29 00:01:31,920 --> 00:01:37,480 Speaker 3: and nine since so and we yeah, exactly, so I 30 00:01:37,520 --> 00:01:38,880 Speaker 3: think you kind of give off going to see who 31 00:01:38,880 --> 00:01:39,640 Speaker 3: I want to go for right. 32 00:01:39,720 --> 00:01:41,320 Speaker 2: I was like, I'm going to be get super apported 33 00:01:41,400 --> 00:01:42,600 Speaker 2: for everyone and that would be good. 34 00:01:42,959 --> 00:01:45,480 Speaker 3: And the time when we literally got probably one hundred 35 00:01:45,520 --> 00:01:48,080 Speaker 3: plus style and light down within two months, you know, 36 00:01:48,280 --> 00:01:50,040 Speaker 3: you know, that would have been a lot more if 37 00:01:50,120 --> 00:01:51,920 Speaker 3: you know, you know, if you know, had the right 38 00:01:51,960 --> 00:01:53,680 Speaker 3: business model. So I think they can know a lot 39 00:01:53,680 --> 00:01:55,720 Speaker 3: of right businessmaller from the start is important, and I 40 00:01:55,760 --> 00:01:57,640 Speaker 3: think a lot of founders actually don't do that at all. 41 00:01:57,640 --> 00:01:59,240 Speaker 3: You have these companies that oh, I'm make my up 42 00:01:59,240 --> 00:02:01,560 Speaker 3: free and and figure it out in five years and 43 00:02:01,560 --> 00:02:03,160 Speaker 3: then they run out of money and then you know 44 00:02:03,200 --> 00:02:05,560 Speaker 3: all that. So I do think having the right thinking 45 00:02:05,560 --> 00:02:07,040 Speaker 3: about the right business and all of them to start 46 00:02:07,040 --> 00:02:08,519 Speaker 3: with something that I did. 47 00:02:08,639 --> 00:02:09,240 Speaker 2: I was really young. 48 00:02:09,280 --> 00:02:10,800 Speaker 3: I was twenty two when I was doing it, so 49 00:02:11,520 --> 00:02:13,480 Speaker 3: now that it's not the here there, but that was 50 00:02:13,520 --> 00:02:14,079 Speaker 3: something that I. 51 00:02:14,000 --> 00:02:16,320 Speaker 2: Think was something that I would. 52 00:02:16,200 --> 00:02:19,359 Speaker 3: I learned that that now I'm doing at day one 53 00:02:19,440 --> 00:02:20,320 Speaker 3: with this new company. 54 00:02:21,120 --> 00:02:23,760 Speaker 1: Yeah, and I think about something that you know, which 55 00:02:23,800 --> 00:02:26,600 Speaker 1: I'm you're obviously aware of, and that you know, business 56 00:02:26,680 --> 00:02:29,040 Speaker 1: is designed to sell, like whether you I PO, whether 57 00:02:29,080 --> 00:02:31,880 Speaker 1: you sell it to somebody else it's acquired, or you're 58 00:02:31,919 --> 00:02:35,720 Speaker 1: you become an acquirer of other businesses. That's what it's 59 00:02:35,760 --> 00:02:38,680 Speaker 1: designed for. And I'm curious in how you think about 60 00:02:39,400 --> 00:02:42,880 Speaker 1: your thinking going into Skye Like is this someonody, Oh, 61 00:02:42,880 --> 00:02:45,239 Speaker 1: I wanted to do this forever and then you just realize, okay, 62 00:02:45,440 --> 00:02:47,200 Speaker 1: you have to sell this thing at some point. And 63 00:02:47,520 --> 00:02:50,239 Speaker 1: how you think now about you said, you know, starting 64 00:02:50,240 --> 00:02:52,600 Speaker 1: things from the beginning, How do you think about going 65 00:02:52,639 --> 00:02:55,160 Speaker 1: into a new company that that. 66 00:02:55,160 --> 00:02:56,000 Speaker 2: Kind of mindset. 67 00:02:56,160 --> 00:02:59,640 Speaker 3: Yeah, So I think that when I started Skylle, it 68 00:02:59,680 --> 00:03:02,280 Speaker 3: was literally like a few years right after like Instagram 69 00:03:02,320 --> 00:03:04,640 Speaker 3: sold for a billion dollars and it was just it 70 00:03:04,680 --> 00:03:07,119 Speaker 3: was still the series of a lot of these acquisitions 71 00:03:07,160 --> 00:03:09,880 Speaker 3: were still new it was actually right before there was 72 00:03:09,919 --> 00:03:12,120 Speaker 3: a lot of wave of excess. It was more like 73 00:03:12,160 --> 00:03:14,639 Speaker 3: that big funding period where everyone was getting raising a 74 00:03:14,680 --> 00:03:16,120 Speaker 3: lot of money as more. 75 00:03:16,080 --> 00:03:17,280 Speaker 2: So before with a lot of exits. 76 00:03:17,360 --> 00:03:19,200 Speaker 3: Right, So when I was thinking about Scholar, I was 77 00:03:19,240 --> 00:03:21,160 Speaker 3: just thinking, Okay, I'm gonna You're gonna just build this, 78 00:03:21,240 --> 00:03:23,200 Speaker 3: and you want to get to everyone had this, get 79 00:03:23,240 --> 00:03:25,240 Speaker 3: to a million users and all that stuff. So I 80 00:03:25,240 --> 00:03:28,160 Speaker 3: would say thinking about that in mind. Actually when I 81 00:03:28,160 --> 00:03:30,760 Speaker 3: build the company, to be completely honest, I wasn't thinking 82 00:03:30,760 --> 00:03:33,120 Speaker 3: about Okay, how can I build this, you know, to 83 00:03:33,160 --> 00:03:33,800 Speaker 3: sell the company. 84 00:03:33,840 --> 00:03:34,840 Speaker 2: I was really more self and. 85 00:03:34,840 --> 00:03:36,240 Speaker 3: How I was going to build a business, how I 86 00:03:36,280 --> 00:03:38,440 Speaker 3: was going to make it grow again, you know, and 87 00:03:38,520 --> 00:03:41,040 Speaker 3: also just being at that point in my career, which 88 00:03:41,400 --> 00:03:44,160 Speaker 3: again that being literally my first job. I think that 89 00:03:44,280 --> 00:03:47,640 Speaker 3: was something I was thinking through. However, in hindsight, when 90 00:03:47,680 --> 00:03:50,240 Speaker 3: I went through the exit process when we got acquired 91 00:03:50,240 --> 00:03:52,640 Speaker 3: by Sally May, you went through the diligence process and 92 00:03:52,680 --> 00:03:55,400 Speaker 3: you went through you know, it just also just and 93 00:03:55,600 --> 00:03:57,960 Speaker 3: even Scholar is actually possible. I only raised four hundred K, 94 00:03:58,040 --> 00:04:00,440 Speaker 3: so I was I had a majority of equitumic company 95 00:04:00,560 --> 00:04:03,120 Speaker 3: and I have deal boards. That was all well for me, 96 00:04:03,480 --> 00:04:05,960 Speaker 3: and it was ultimately my decision to sell. But I 97 00:04:05,960 --> 00:04:08,960 Speaker 3: think when you go through that exit process, you really go. 98 00:04:09,040 --> 00:04:11,320 Speaker 3: But one, you have to give them all these documents 99 00:04:11,360 --> 00:04:13,320 Speaker 3: from the time of the things of your business, all 100 00:04:13,400 --> 00:04:16,279 Speaker 3: your metrics, and I think that you go, you look 101 00:04:16,320 --> 00:04:18,839 Speaker 3: back and press reset and you will oh, now I 102 00:04:19,040 --> 00:04:22,120 Speaker 3: see how you know? These venture backed companies build a 103 00:04:22,120 --> 00:04:23,800 Speaker 3: company from the exit right. And that goes back to 104 00:04:23,839 --> 00:04:26,279 Speaker 3: my question, your question about about the business model. 105 00:04:26,440 --> 00:04:28,160 Speaker 2: You think about every little piece of the right and 106 00:04:28,240 --> 00:04:28,760 Speaker 2: the product. 107 00:04:29,120 --> 00:04:31,360 Speaker 3: Who can be like right now, like with this new 108 00:04:31,360 --> 00:04:34,320 Speaker 3: company path, already I already have thought about who could 109 00:04:34,320 --> 00:04:36,599 Speaker 3: the potential requires be What is the right business model? 110 00:04:36,600 --> 00:04:39,200 Speaker 3: Because when you think about getting acquired, people just think, oh, 111 00:04:39,240 --> 00:04:41,600 Speaker 3: I'm going to build something and someone's just gonna Facebook 112 00:04:41,720 --> 00:04:44,400 Speaker 3: is gonna like buy your business, not necessarily like why 113 00:04:44,440 --> 00:04:45,679 Speaker 3: would Facebook want your business? 114 00:04:45,760 --> 00:04:45,880 Speaker 2: Right? 115 00:04:46,160 --> 00:04:48,479 Speaker 3: So you really have to start thinking about that and 116 00:04:48,600 --> 00:04:51,359 Speaker 3: even all way down toward grain your level. Hey, where 117 00:04:51,600 --> 00:04:53,680 Speaker 3: financially you want to be when you sell? Right, is 118 00:04:53,680 --> 00:04:56,120 Speaker 3: it twenty million revenue? It's a thirty million in revenue, right, 119 00:04:56,120 --> 00:04:57,359 Speaker 3: what could the multipleon on that be? 120 00:04:57,720 --> 00:05:00,400 Speaker 2: Right? So understanding that because the thing is even if 121 00:05:00,440 --> 00:05:01,440 Speaker 2: you are not doing. 122 00:05:01,200 --> 00:05:04,120 Speaker 3: That, the vcs who are investing you are gonna do that, right, 123 00:05:04,320 --> 00:05:06,520 Speaker 3: They're not gonna they're investing you with the exit. They 124 00:05:06,520 --> 00:05:09,520 Speaker 3: have analysts who are doing that. These exercises says how 125 00:05:09,560 --> 00:05:12,120 Speaker 3: big can this business be? And all that. So I 126 00:05:12,200 --> 00:05:15,000 Speaker 3: grew the profitable route and grew styled to be that. 127 00:05:15,040 --> 00:05:17,840 Speaker 3: But I have seen now starting this venture route that 128 00:05:18,120 --> 00:05:20,359 Speaker 3: even if you're not doing that, those vcs are doing it. 129 00:05:20,400 --> 00:05:22,600 Speaker 3: So you really it's good for you to assessicize an 130 00:05:22,600 --> 00:05:25,320 Speaker 3: opportunity because to your point, if you are a lot 131 00:05:25,320 --> 00:05:27,120 Speaker 3: of there's a lot of conversation the Black commedy. When 132 00:05:27,160 --> 00:05:29,119 Speaker 3: I sold a salad made people are like you sold 133 00:05:29,160 --> 00:05:33,000 Speaker 3: out and all the stuff that people don't understand if 134 00:05:33,000 --> 00:05:34,719 Speaker 3: you take someone US's money. We took a little bit 135 00:05:34,760 --> 00:05:36,880 Speaker 3: of money, but the sharks and other people, when you 136 00:05:36,920 --> 00:05:39,240 Speaker 3: take someone else's money, they have to get it back, 137 00:05:39,560 --> 00:05:41,080 Speaker 3: and nine times out of ten they. 138 00:05:40,960 --> 00:05:42,560 Speaker 2: Have to get that back through an exit. And that's 139 00:05:42,600 --> 00:05:43,200 Speaker 2: something that. 140 00:05:43,400 --> 00:05:45,800 Speaker 3: Isn't well known in the black in the mainstream Black community, 141 00:05:45,839 --> 00:05:49,280 Speaker 3: that capital cannot be taken without it being returned and 142 00:05:49,800 --> 00:05:51,599 Speaker 3: the exod is the way to do that. So thinking 143 00:05:51,640 --> 00:05:54,480 Speaker 3: about what an extra strategy could look like is really 144 00:05:54,560 --> 00:05:56,400 Speaker 3: important to think about in the beginning of their journey. 145 00:05:56,440 --> 00:05:59,279 Speaker 3: It's not being transactional, it's just understanding the reality of 146 00:05:59,320 --> 00:06:02,640 Speaker 3: growing up business and and the and and and the 147 00:06:02,760 --> 00:06:03,960 Speaker 3: liquidity events that. 148 00:06:04,000 --> 00:06:04,760 Speaker 2: Have to come with them. 149 00:06:06,040 --> 00:06:09,120 Speaker 1: What pulls you to the education space, you know, it 150 00:06:09,120 --> 00:06:12,240 Speaker 1: seems like that's like your Yeah, that's your thing. 151 00:06:14,040 --> 00:06:16,039 Speaker 3: I think that you know, for me, I I like 152 00:06:16,120 --> 00:06:19,000 Speaker 3: to solve problems that you know that are really relevant. 153 00:06:19,000 --> 00:06:23,400 Speaker 3: So I'm originally for Birmingham, Alabama. I actually only a 154 00:06:23,400 --> 00:06:26,440 Speaker 3: a small fraction of the students who in Alabama who 155 00:06:26,480 --> 00:06:27,719 Speaker 3: graduate high school are reading. 156 00:06:27,520 --> 00:06:29,960 Speaker 2: At a third grade level. That's very well known. 157 00:06:30,640 --> 00:06:34,040 Speaker 3: Testing isn't grade and you know that's in federal I 158 00:06:34,040 --> 00:06:36,040 Speaker 3: mean it's just been a whole wasn't but it's yeah. 159 00:06:36,080 --> 00:06:38,240 Speaker 3: So like I went to a Magne High school, so 160 00:06:38,279 --> 00:06:40,600 Speaker 3: I was fortunate where the students, but the think that high 161 00:06:40,600 --> 00:06:42,680 Speaker 3: school went to college. But the master of the system, 162 00:06:42,720 --> 00:06:44,760 Speaker 3: I think probably around ten percent of people go to 163 00:06:44,760 --> 00:06:47,920 Speaker 3: college five even way way less than I even graduate. 164 00:06:48,120 --> 00:06:49,360 Speaker 3: And they're all are going to a lot of which 165 00:06:49,400 --> 00:06:51,080 Speaker 3: are going to college at third graae level. So I 166 00:06:51,120 --> 00:06:54,720 Speaker 3: saw the disparity of education and I saw that it 167 00:06:54,800 --> 00:06:57,080 Speaker 3: wasn't you know, and I and I saw two things 168 00:06:57,080 --> 00:06:59,880 Speaker 3: out of those environments. I saw access to paying for 169 00:07:00,040 --> 00:07:03,800 Speaker 3: college and access to resources to prepare for exams and 170 00:07:03,839 --> 00:07:06,080 Speaker 3: other things to get you into to get you into college, 171 00:07:06,120 --> 00:07:08,200 Speaker 3: and also just being able to have, you know, things 172 00:07:08,240 --> 00:07:10,480 Speaker 3: outside of maybe your school environment to be able to 173 00:07:10,480 --> 00:07:11,080 Speaker 3: do so. 174 00:07:11,120 --> 00:07:13,320 Speaker 2: For me, I look at you know, I was likely 175 00:07:13,360 --> 00:07:14,200 Speaker 2: to do test well. 176 00:07:14,240 --> 00:07:16,640 Speaker 3: I was, I was likely to do do well in school, 177 00:07:16,640 --> 00:07:19,240 Speaker 3: but I saw the I saw other people just just didn't. 178 00:07:19,520 --> 00:07:22,200 Speaker 3: So for me, those those were pain points that were 179 00:07:22,240 --> 00:07:24,320 Speaker 3: really important to me. And I see, I saw the 180 00:07:24,320 --> 00:07:26,040 Speaker 3: impact of education happening in my life. I'm a first 181 00:07:26,080 --> 00:07:29,120 Speaker 3: generation college student, you know, obviously, and as you can 182 00:07:29,200 --> 00:07:32,239 Speaker 3: see with starting a company, selling a company, having wealth 183 00:07:32,280 --> 00:07:34,160 Speaker 3: and all that stuff like that is my family well 184 00:07:34,280 --> 00:07:37,640 Speaker 3: like like that that's completely a foreign concept to them. 185 00:07:37,880 --> 00:07:39,840 Speaker 3: So I still and all that was due because I 186 00:07:39,880 --> 00:07:41,280 Speaker 3: got scholarship to go to college. 187 00:07:41,720 --> 00:07:43,440 Speaker 2: So I saw how transformer that can be. 188 00:07:43,880 --> 00:07:47,040 Speaker 3: And I and also as a businessman, I have learned 189 00:07:47,400 --> 00:07:50,760 Speaker 3: that anything anything that can impact someone's life, anything that 190 00:07:50,800 --> 00:07:54,120 Speaker 3: can provide value to a to a personal organization, you 191 00:07:54,160 --> 00:07:56,440 Speaker 3: can wrap a business model around it. So it doesn't 192 00:07:56,480 --> 00:07:58,600 Speaker 3: have to be mutually exclusive, so I can help a 193 00:07:58,600 --> 00:08:01,120 Speaker 3: lot of people and then and still be able to 194 00:08:01,200 --> 00:08:03,000 Speaker 3: do it in a way that scales. Because I was 195 00:08:03,080 --> 00:08:05,160 Speaker 3: when I started Scholar, I was thinking about the nonprofit stuff, 196 00:08:05,160 --> 00:08:07,440 Speaker 3: and I'm like, I don't want to be someone literally 197 00:08:07,480 --> 00:08:10,280 Speaker 3: every day hosting found raisers and asking people begging people 198 00:08:10,320 --> 00:08:10,600 Speaker 3: for money. 199 00:08:10,640 --> 00:08:11,840 Speaker 2: I want people to be able to give me. 200 00:08:12,000 --> 00:08:13,760 Speaker 3: I want to be able to raise money through revenue 201 00:08:14,160 --> 00:08:17,080 Speaker 3: and being able to turn someone's investment. So education has 202 00:08:17,160 --> 00:08:19,640 Speaker 3: just been so pivotal to my life. So it's something 203 00:08:19,680 --> 00:08:22,240 Speaker 3: that's really really important for me to do. Even with 204 00:08:22,360 --> 00:08:23,600 Speaker 3: Scholar and now what I'm dealing with. 205 00:08:23,640 --> 00:08:26,440 Speaker 1: Path, yeah and now and I want to get into 206 00:08:26,480 --> 00:08:29,720 Speaker 1: that and I think about that in talking about path, 207 00:08:30,880 --> 00:08:34,240 Speaker 1: what is what is that eureka moment we said, this 208 00:08:34,280 --> 00:08:36,360 Speaker 1: is the idea. And here's why I asked this question 209 00:08:36,440 --> 00:08:40,720 Speaker 1: is because I think sometimes we just have in doing scholar, 210 00:08:40,800 --> 00:08:43,080 Speaker 1: you might have said, oh, there's this other vertical that 211 00:08:43,120 --> 00:08:44,880 Speaker 1: one day I'm going to touch that thing this because 212 00:08:44,880 --> 00:08:48,199 Speaker 1: there's a problem there, Or you can just be purely opportunistic, 213 00:08:48,240 --> 00:08:49,800 Speaker 1: like I see a gap. Ain't nobody doing this or 214 00:08:49,840 --> 00:08:51,600 Speaker 1: any nobody doing it how I can do it, or 215 00:08:51,679 --> 00:08:54,079 Speaker 1: something you're really really passionate about, like what is that 216 00:08:54,120 --> 00:08:56,559 Speaker 1: thing for a path for you? And then we'll talk 217 00:08:56,559 --> 00:08:57,200 Speaker 1: about what it is. 218 00:08:57,679 --> 00:08:59,839 Speaker 3: Yeah, so I think that is it was. It's really 219 00:09:00,040 --> 00:09:04,520 Speaker 3: three things, right, I think one one exactly. So one 220 00:09:04,559 --> 00:09:06,000 Speaker 3: of the biggest things I actually wanted to try to 221 00:09:06,000 --> 00:09:09,480 Speaker 3: get into into SKALI if we grew and expanded was 222 00:09:09,800 --> 00:09:11,920 Speaker 3: test prep. So one of the biggest things that I 223 00:09:11,960 --> 00:09:16,200 Speaker 3: had challenges with was being able to pay for the expensive. 224 00:09:15,760 --> 00:09:18,600 Speaker 2: Example, so when I was when I was going to college. 225 00:09:18,440 --> 00:09:21,240 Speaker 3: In twenty ten, it was Princeton Review Kaplan all their 226 00:09:21,240 --> 00:09:24,480 Speaker 3: courses like twelve hundred dollars. Like I just told you, 227 00:09:24,480 --> 00:09:26,319 Speaker 3: I was first generation student like my mom, we could 228 00:09:26,400 --> 00:09:28,840 Speaker 3: validate our bills for like fifty dollars, So that just 229 00:09:28,920 --> 00:09:30,160 Speaker 3: wasn't even their question, right. 230 00:09:30,400 --> 00:09:33,240 Speaker 2: So you would see all the you know, the white kids. 231 00:09:33,000 --> 00:09:36,000 Speaker 3: From the more upper middle class schools or Wether school 232 00:09:36,120 --> 00:09:38,320 Speaker 3: doing really well on these tests. But then you would 233 00:09:38,320 --> 00:09:40,280 Speaker 3: find out when you go through these different programs, their 234 00:09:40,320 --> 00:09:43,280 Speaker 3: parents are paying thousands of dollars to prep them for 235 00:09:43,360 --> 00:09:45,719 Speaker 3: these exams, right then, just they just prepare for that, right, 236 00:09:46,640 --> 00:09:49,000 Speaker 3: And I think that you know, AI and I think 237 00:09:49,040 --> 00:09:51,640 Speaker 3: so was it was kind of a perfect you know, 238 00:09:51,800 --> 00:09:54,480 Speaker 3: I can't a perfect trinity of things. Were Okay, here's 239 00:09:54,480 --> 00:09:56,839 Speaker 3: this thing, but you know you have to create all 240 00:09:56,840 --> 00:09:57,439 Speaker 3: this content. 241 00:09:57,760 --> 00:09:59,840 Speaker 2: Oh look at your AI and you see that. 242 00:10:00,160 --> 00:10:03,160 Speaker 3: Now this is this moment of opportunistic I can do 243 00:10:03,200 --> 00:10:05,360 Speaker 3: this Princeton Review needs to do because they need to 244 00:10:05,400 --> 00:10:07,360 Speaker 3: pay all these instructors. They need to go out through 245 00:10:07,720 --> 00:10:10,680 Speaker 3: this content manually. A I can really do that. But 246 00:10:10,679 --> 00:10:12,480 Speaker 3: I didn't want to. Just think about college admission, all 247 00:10:12,480 --> 00:10:15,160 Speaker 3: those exams and things that you know, those students who 248 00:10:15,160 --> 00:10:17,200 Speaker 3: are reading at the third grade level in Alabama, we 249 00:10:17,240 --> 00:10:19,480 Speaker 3: have an AI model that can generate those exams as well. 250 00:10:19,640 --> 00:10:21,760 Speaker 3: And actually if people are not doing well on them, 251 00:10:21,800 --> 00:10:24,920 Speaker 3: we can actually help them generate too, you know, tutoring 252 00:10:25,000 --> 00:10:27,160 Speaker 3: and step by steff solutions to help them learn. So 253 00:10:27,200 --> 00:10:29,880 Speaker 3: I thought about, you know, when I was growing up, Okay, 254 00:10:29,880 --> 00:10:31,120 Speaker 3: what are these barriers? 255 00:10:31,200 --> 00:10:31,400 Speaker 2: Right? 256 00:10:31,920 --> 00:10:33,920 Speaker 3: One, it was, you know, being able to get into 257 00:10:33,920 --> 00:10:35,520 Speaker 3: college or do well, to get the rights, all the 258 00:10:36,040 --> 00:10:38,199 Speaker 3: all the scholarship you want because of this bearer. 259 00:10:38,240 --> 00:10:38,640 Speaker 2: That's things. 260 00:10:38,720 --> 00:10:40,880 Speaker 3: And as you know, with the current administration, there was 261 00:10:41,000 --> 00:10:43,360 Speaker 3: just a letter they just sent out a month or 262 00:10:43,360 --> 00:10:46,760 Speaker 3: two ago called deer to call deer colleague, which is 263 00:10:46,800 --> 00:10:51,240 Speaker 3: to all universities telling them that they have that them 264 00:10:51,920 --> 00:10:54,960 Speaker 3: them not requiring standardized tests of ATT and ATT would 265 00:10:54,960 --> 00:10:59,200 Speaker 3: be considered would be considered discrimination, meaning that they took 266 00:10:59,240 --> 00:11:02,160 Speaker 3: their saying that they took those tests away in order 267 00:11:02,160 --> 00:11:04,760 Speaker 3: for DEI purposes, So they have to bring them back. 268 00:11:04,800 --> 00:11:07,840 Speaker 3: So now actually we're gonna we're now our business is 269 00:11:07,840 --> 00:11:10,319 Speaker 3: gonna be great for our business. So yeah, So then 270 00:11:10,360 --> 00:11:12,720 Speaker 3: so it was definitely opportunities. It's like, hey, generally I 271 00:11:12,760 --> 00:11:15,880 Speaker 3: can do this thing really well and I can create 272 00:11:15,880 --> 00:11:17,920 Speaker 3: a good business all around it because now I can 273 00:11:18,000 --> 00:11:20,480 Speaker 3: use this make it more affordable and you know, and 274 00:11:20,520 --> 00:11:22,480 Speaker 3: it's just really being an issue that I was really 275 00:11:22,520 --> 00:11:25,040 Speaker 3: passionate about because that was the big thing because I 276 00:11:25,080 --> 00:11:27,440 Speaker 3: don't believe, you know, I think it's really hard to 277 00:11:28,200 --> 00:11:30,800 Speaker 3: instill ambition and students and family and really go and 278 00:11:30,880 --> 00:11:32,920 Speaker 3: change a lot. But I do believe that there are 279 00:11:32,960 --> 00:11:36,400 Speaker 3: a lot of students, especially students of color, who are motivated, 280 00:11:36,440 --> 00:11:39,960 Speaker 3: who are belittled and called dumb simply because they can't 281 00:11:39,960 --> 00:11:40,600 Speaker 3: afford tutors. 282 00:11:40,600 --> 00:11:41,800 Speaker 2: They can't afford these things. 283 00:11:42,360 --> 00:11:44,880 Speaker 3: And I think AI has presented a really, really dope 284 00:11:44,960 --> 00:11:47,720 Speaker 3: opportunity to put that in front of them, make it 285 00:11:47,760 --> 00:11:50,600 Speaker 3: affordable and be able to help them level the playing field. 286 00:11:50,640 --> 00:11:53,120 Speaker 3: And I think the era in this political environment that 287 00:11:53,160 --> 00:11:56,240 Speaker 3: we're in right now where everything goes back to the states, 288 00:11:56,280 --> 00:11:59,040 Speaker 3: that means that states can determine any you know, all 289 00:11:59,080 --> 00:12:01,040 Speaker 3: of them. They can say, you know what, your kid 290 00:12:01,080 --> 00:12:03,680 Speaker 3: can't graduate if they don't make a thirty on MS. 291 00:12:03,679 --> 00:12:06,439 Speaker 3: But it was not realistic a thirty on AC. What 292 00:12:06,559 --> 00:12:09,040 Speaker 3: did we go to that kind of environment, kind of discriminatory, 293 00:12:09,320 --> 00:12:12,600 Speaker 3: inequitable environment. You know, I think Path is positioned to 294 00:12:12,679 --> 00:12:15,120 Speaker 3: do to jump in there and be a solution for that. 295 00:12:16,040 --> 00:12:18,880 Speaker 1: Yeah, you just said something that I found really interesting, 296 00:12:18,960 --> 00:12:23,520 Speaker 1: and it makes me think about Rama Manuel. I remember saying, 297 00:12:23,640 --> 00:12:25,199 Speaker 1: I'm sure he wasn't the first person to say it, 298 00:12:25,200 --> 00:12:27,040 Speaker 1: and this was during Obama's term. He said, you know, 299 00:12:27,120 --> 00:12:30,800 Speaker 1: never let a good crisis go to waste, And that 300 00:12:30,920 --> 00:12:33,679 Speaker 1: is always stuck with me because even I've had there 301 00:12:33,760 --> 00:12:35,760 Speaker 1: was opportunities that I got that I could not have 302 00:12:35,800 --> 00:12:39,920 Speaker 1: gotten other than COVID happened. And I recognized that COVID 303 00:12:40,040 --> 00:12:42,840 Speaker 1: was as devastating as it was, but there it created 304 00:12:42,840 --> 00:12:45,200 Speaker 1: a landscape for opportunity in some ways. 305 00:12:45,440 --> 00:12:45,720 Speaker 2: For me. 306 00:12:45,920 --> 00:12:47,280 Speaker 1: I can tell you, you know, there was some real 307 00:12:47,400 --> 00:12:48,719 Speaker 1: estate I bought that it wouldn't have been on the 308 00:12:48,760 --> 00:12:50,880 Speaker 1: market at the price it was had COVID I happened, 309 00:12:51,200 --> 00:12:53,880 Speaker 1: and other things. And you just mentioned like you know, 310 00:12:54,200 --> 00:12:58,960 Speaker 1: this new thing legislation will create opportunities for your business. 311 00:12:58,960 --> 00:13:02,120 Speaker 1: And I'm curious in how you think we as founders 312 00:13:02,160 --> 00:13:06,880 Speaker 1: should be thinking or creators innovators should think about opportunity 313 00:13:07,360 --> 00:13:09,920 Speaker 1: when we could just walk around with hair on fire, 314 00:13:10,000 --> 00:13:12,439 Speaker 1: but instead look for opportunities. 315 00:13:13,840 --> 00:13:17,600 Speaker 3: Yeah, I think that when whether the stock market is down, 316 00:13:18,080 --> 00:13:21,360 Speaker 3: whether there's a COVID COVID ninety pac, whether we have 317 00:13:21,400 --> 00:13:24,960 Speaker 3: a new lolical administration, there's always money been made in chaos, 318 00:13:25,080 --> 00:13:27,040 Speaker 3: and most of the people who are creating the chaos 319 00:13:27,120 --> 00:13:29,559 Speaker 3: are doing it with they intend to make money in someone. 320 00:13:30,080 --> 00:13:31,440 Speaker 2: Right, That's just life, right. 321 00:13:31,480 --> 00:13:33,679 Speaker 3: I think when you're younger, and I think when you're 322 00:13:33,679 --> 00:13:35,560 Speaker 3: in your vot, I don't. But now, as a as 323 00:13:35,600 --> 00:13:38,520 Speaker 3: a person that has tend a decade, over a decade 324 00:13:38,520 --> 00:13:40,880 Speaker 3: and text based met a lot of wealthy people and 325 00:13:41,520 --> 00:13:43,600 Speaker 3: many of my peers and friends and things like that, 326 00:13:43,920 --> 00:13:45,600 Speaker 3: I know how the game works, right, Like it's like 327 00:13:46,440 --> 00:13:49,040 Speaker 3: they create chaos of course, you know, I mean look 328 00:13:49,080 --> 00:13:52,559 Speaker 3: at bitcoin, right, Oh my god, bitcoin is horrible. It's 329 00:13:52,600 --> 00:13:54,440 Speaker 3: the death, it's the devil, and blah blah blah. Nah, 330 00:13:54,480 --> 00:13:58,400 Speaker 3: it goes down superlow, everyone low key buys it all suddenly. 331 00:13:58,440 --> 00:14:02,760 Speaker 3: Now without now we have federal Now we have federal 332 00:14:03,160 --> 00:14:05,240 Speaker 3: you know, legislation around it, and now it's going to 333 00:14:05,280 --> 00:14:08,400 Speaker 3: go up. Right, stock market dropping and the president of 334 00:14:08,679 --> 00:14:10,920 Speaker 3: when in any any former time with the President of 335 00:14:10,920 --> 00:14:13,560 Speaker 3: the United States, as they'll say, oh, I'm not gonna 336 00:14:13,559 --> 00:14:15,600 Speaker 3: really out of a recession. Stock markets drop, and then 337 00:14:15,640 --> 00:14:18,120 Speaker 3: I guess what. Then all my friends in hedge funds 338 00:14:18,280 --> 00:14:21,280 Speaker 3: and then banking are talking about what they're buying up like. 339 00:14:21,280 --> 00:14:22,480 Speaker 2: This stuff is like a game. Right. 340 00:14:22,560 --> 00:14:25,520 Speaker 3: So for us, you know, I think that look at 341 00:14:25,520 --> 00:14:29,040 Speaker 3: that chaos, find their opportunity buying industries that are being affected. 342 00:14:29,040 --> 00:14:31,160 Speaker 3: And like you did, you know, real estate, Like look 343 00:14:31,200 --> 00:14:32,600 Speaker 3: at d C if I would say somebody in dc 344 00:14:32,640 --> 00:14:34,080 Speaker 3: W with all these layoffs happen, and I'd be looking 345 00:14:34,080 --> 00:14:36,560 Speaker 3: at buying real estate up in the d MD because 346 00:14:36,840 --> 00:14:39,720 Speaker 3: it's about to be a ghost town there, right, So 347 00:14:39,720 --> 00:14:41,320 Speaker 3: so I think of that, and then I think for us, 348 00:14:41,360 --> 00:14:44,560 Speaker 3: you know, education, right, he really wants to really they 349 00:14:44,560 --> 00:14:46,880 Speaker 3: really want to jump and harp on education. But in 350 00:14:46,920 --> 00:14:49,520 Speaker 3: a way we're using things that are historically embarrassed to 351 00:14:49,720 --> 00:14:52,520 Speaker 3: people of color, which is standardized testing. Right if you 352 00:14:52,640 --> 00:14:55,400 Speaker 3: put and say okay, kids can't get into a college 353 00:14:55,480 --> 00:14:57,440 Speaker 3: or get scholarships for their art testing, less of us 354 00:14:57,440 --> 00:14:59,240 Speaker 3: are going to go. If you say, oh, your kids 355 00:14:59,280 --> 00:15:02,160 Speaker 3: can't graduate grade is they don't pass this state exam 356 00:15:02,320 --> 00:15:04,800 Speaker 3: in Florida or where I'm from, Alabama, you would have 357 00:15:04,800 --> 00:15:08,040 Speaker 3: black kids or literally just stuck and the ultimately giving 358 00:15:08,120 --> 00:15:08,720 Speaker 3: up and doing that. 359 00:15:08,800 --> 00:15:11,040 Speaker 2: Right, So I do think in that chaos there's. 360 00:15:10,840 --> 00:15:14,479 Speaker 3: An opportunity, but there's always opportunity, and there's always orchestrated 361 00:15:14,480 --> 00:15:16,920 Speaker 3: the chaos, and those people who are orchestrating their chaos 362 00:15:17,000 --> 00:15:19,240 Speaker 3: are creating their chaos to make money for themselves. 363 00:15:19,760 --> 00:15:22,760 Speaker 1: It's so interesting. So let's talk about what path is 364 00:15:22,760 --> 00:15:25,680 Speaker 1: for people you know, assigned from you know, touching on 365 00:15:26,000 --> 00:15:28,280 Speaker 1: you know what it does? How much you either give 366 00:15:28,320 --> 00:15:29,960 Speaker 1: the elevator pitch for a path. 367 00:15:29,760 --> 00:15:30,320 Speaker 2: If you would. 368 00:15:31,440 --> 00:15:35,800 Speaker 3: Yeah, So, so path is we're in Jerrybody platform simply 369 00:15:35,840 --> 00:15:38,480 Speaker 3: around exam prep. So we created an AI model very 370 00:15:38,520 --> 00:15:42,920 Speaker 3: specifically around helping students prepare for exams and also predict 371 00:15:42,920 --> 00:15:44,440 Speaker 3: whether they're going to make on the exam. 372 00:15:44,200 --> 00:15:44,960 Speaker 2: Before they take it. 373 00:15:45,280 --> 00:15:48,640 Speaker 3: So we cover exams from KT twelve exams, so like 374 00:15:49,040 --> 00:15:51,120 Speaker 3: the exams that every student in the state has to take, 375 00:15:51,240 --> 00:15:53,720 Speaker 3: like for them, the New York Regents or New York 376 00:15:53,720 --> 00:15:57,320 Speaker 3: State Exam, the Texas Star Exam, TSA Exam, et cetera. 377 00:15:57,880 --> 00:16:02,080 Speaker 3: We also we also cover college admissions exams like ACT 378 00:16:02,960 --> 00:16:06,000 Speaker 3: SAT and p SAT, and then we cover grad school 379 00:16:06,000 --> 00:16:10,600 Speaker 3: exams like GMATT lsad GRE and even professional certifications like 380 00:16:10,640 --> 00:16:11,480 Speaker 3: come to your INCLUX. 381 00:16:11,760 --> 00:16:13,880 Speaker 2: And what we do is provide you. We use general 382 00:16:13,960 --> 00:16:14,520 Speaker 2: AI to prisee. 383 00:16:14,560 --> 00:16:18,440 Speaker 3: You unlimited practice exams, unlimited practice, and then we then 384 00:16:18,560 --> 00:16:20,440 Speaker 3: take that data and then be able to predict whether 385 00:16:20,440 --> 00:16:21,520 Speaker 3: you're going to pass the tests or not. 386 00:16:21,840 --> 00:16:24,320 Speaker 2: So most of these so and we're all in because we're. 387 00:16:24,200 --> 00:16:26,600 Speaker 3: Able to use general of AI, we're able to be 388 00:16:26,680 --> 00:16:29,760 Speaker 3: able to provide that for like just like sixty dollars 389 00:16:29,840 --> 00:16:33,680 Speaker 3: right versus you paying and everything runner one subscription and 390 00:16:33,800 --> 00:16:36,080 Speaker 3: not instead of being able to pay twelve going to 391 00:16:36,160 --> 00:16:39,160 Speaker 3: caplan and paying twenty five hundred dollars for GMAT prep, 392 00:16:39,280 --> 00:16:41,360 Speaker 3: So we're able to give you better. 393 00:16:41,400 --> 00:16:41,720 Speaker 2: We get it. 394 00:16:41,760 --> 00:16:44,760 Speaker 3: We're able to give you premium quality content, unlimited practice, 395 00:16:44,760 --> 00:16:46,200 Speaker 3: predict whether you're going to make what you're gonna make 396 00:16:46,240 --> 00:16:47,560 Speaker 3: on the test where you take it, which means that 397 00:16:47,600 --> 00:16:49,520 Speaker 3: you don't have to score and spend money until your shit. 398 00:16:49,520 --> 00:16:51,200 Speaker 3: You're gonna make the score you're going to make, and 399 00:16:52,240 --> 00:16:54,440 Speaker 3: we're able to and we're able to do it for 400 00:16:54,480 --> 00:16:56,960 Speaker 3: a super affordable rate, which makes it accessible. So going 401 00:16:56,960 --> 00:16:59,880 Speaker 3: back to my earlier point when this pandemonium happens where 402 00:17:00,120 --> 00:17:02,480 Speaker 3: everyone's freaking out because now I need to make a 403 00:17:02,520 --> 00:17:04,320 Speaker 3: certain score or I need to pass or a certain 404 00:17:04,320 --> 00:17:06,760 Speaker 3: score to make that s you to graduate or do this. 405 00:17:07,160 --> 00:17:08,920 Speaker 3: Now we can swoop in and be able to say, okay, 406 00:17:09,000 --> 00:17:11,280 Speaker 3: now we have that we can give you that make 407 00:17:11,320 --> 00:17:12,920 Speaker 3: it more affordable, predict what you're going to make for 408 00:17:13,000 --> 00:17:13,680 Speaker 3: you taking that, not. 409 00:17:13,680 --> 00:17:15,200 Speaker 2: Just saying oh, here's a bunch of practice. 410 00:17:15,200 --> 00:17:16,600 Speaker 3: We can actually predict it you're going to make and 411 00:17:16,640 --> 00:17:18,560 Speaker 3: Benity do that so and doing that through a super 412 00:17:18,560 --> 00:17:19,359 Speaker 3: boat user interface. 413 00:17:19,400 --> 00:17:20,440 Speaker 2: So that's what kind of what we're doing. 414 00:17:20,680 --> 00:17:24,240 Speaker 3: Focusing on exam across the ward from literally third grade 415 00:17:24,400 --> 00:17:26,040 Speaker 3: all the way up until you go to grad school. 416 00:17:26,080 --> 00:17:29,440 Speaker 3: And mean even if you need professional certifications like inclex 417 00:17:30,080 --> 00:17:34,240 Speaker 3: healthcare and it exams like a your comet, et cetera. 418 00:17:35,200 --> 00:17:37,080 Speaker 1: You know, you've got your finger on the pulse of 419 00:17:37,119 --> 00:17:41,919 Speaker 1: what's happening with AI and education. And I wonder there 420 00:17:41,960 --> 00:17:44,520 Speaker 1: are a lot of parents, a lot of folks who 421 00:17:44,680 --> 00:17:48,480 Speaker 1: still believe there's no place for AI in education. It's 422 00:17:48,520 --> 00:17:50,879 Speaker 1: it's you know, a crutch or you know, we'll do 423 00:17:50,920 --> 00:17:56,720 Speaker 1: it for you. Is that shifting number one into how should. 424 00:17:56,400 --> 00:17:57,240 Speaker 2: We think about it? 425 00:17:59,680 --> 00:18:03,639 Speaker 3: I think that I think that what's happening is a 426 00:18:03,640 --> 00:18:05,720 Speaker 3: lot of a lot of students who are in gen 427 00:18:05,960 --> 00:18:10,760 Speaker 3: X are using JEND, are using or using AI in 428 00:18:10,800 --> 00:18:13,360 Speaker 3: any way right, and a lot of parents are now 429 00:18:13,400 --> 00:18:15,640 Speaker 3: seeing that their students are using these tools. 430 00:18:15,680 --> 00:18:16,360 Speaker 2: I don't know, you guys. 431 00:18:16,400 --> 00:18:20,560 Speaker 3: There was actually a parent suing actually now suing the 432 00:18:20,680 --> 00:18:25,399 Speaker 3: school because her daughter actually graduated and was illiterate, but 433 00:18:25,760 --> 00:18:28,440 Speaker 3: she was passing all her doing, passing all her tests 434 00:18:28,680 --> 00:18:31,840 Speaker 3: exam because she's use the text of speech and AI 435 00:18:31,920 --> 00:18:34,600 Speaker 3: to do to do all her work for so and 436 00:18:34,640 --> 00:18:37,600 Speaker 3: her and her friends. So now she graduated completely literate, 437 00:18:37,640 --> 00:18:40,000 Speaker 3: and she couldn't but she graduates, she couldn't do well 438 00:18:40,040 --> 00:18:42,880 Speaker 3: in college. So you saw, so you see that even 439 00:18:42,960 --> 00:18:46,720 Speaker 3: happening when you know that, right, So, I think you're 440 00:18:46,760 --> 00:18:49,760 Speaker 3: going to see people. It's all happening so fast that 441 00:18:49,840 --> 00:18:53,320 Speaker 3: I think it's creating a cultural amount of cognitive dissonance 442 00:18:53,680 --> 00:18:55,480 Speaker 3: in our community. But I think it's going to be 443 00:18:55,520 --> 00:18:58,159 Speaker 3: ubiqulous because it's going to be these students who are 444 00:18:58,160 --> 00:19:00,480 Speaker 3: growing up with this technology now is going to be 445 00:19:00,560 --> 00:19:02,800 Speaker 3: just commonplace for them, and we're going to have to 446 00:19:02,840 --> 00:19:03,359 Speaker 3: adapt to that. 447 00:19:03,440 --> 00:19:05,560 Speaker 2: But I do think it's moving so so fast. 448 00:19:06,480 --> 00:19:10,960 Speaker 3: There was a there was an AI image of two actors, 449 00:19:11,040 --> 00:19:13,760 Speaker 3: like two male actors pertaining like they were in a couple, 450 00:19:13,760 --> 00:19:15,240 Speaker 3: and I'm like, I'm thinking of myself. 451 00:19:15,240 --> 00:19:17,720 Speaker 2: That's mortifying, right, Like, So that stuff prevents fear. 452 00:19:18,080 --> 00:19:21,560 Speaker 3: But I do think for education, I do think it 453 00:19:21,680 --> 00:19:25,360 Speaker 3: provides a way where we can equalize things because if 454 00:19:25,400 --> 00:19:27,960 Speaker 3: everyone had access to the same quality tutors and education 455 00:19:28,000 --> 00:19:30,199 Speaker 3: at an affordable rate, I think that does within an 456 00:19:30,240 --> 00:19:33,640 Speaker 3: opportunity for for us to really be able to take 457 00:19:33,640 --> 00:19:35,439 Speaker 3: advantage of that and and be able to kind of 458 00:19:35,440 --> 00:19:38,120 Speaker 3: close some of the gaps rather than focusing on all 459 00:19:38,280 --> 00:19:43,919 Speaker 3: the terminator or AI and matrix kind of scenarios. 460 00:19:44,600 --> 00:19:48,959 Speaker 1: You know, there's an unfortunate trend that there's a lot 461 00:19:49,000 --> 00:19:52,120 Speaker 1: of founders who do exit and don't even make any 462 00:19:52,160 --> 00:19:54,840 Speaker 1: money in the exit. Maybe they were just too diluted, 463 00:19:55,000 --> 00:19:56,880 Speaker 1: or they didn't know how to structure deals or et cetera. 464 00:19:57,560 --> 00:20:00,480 Speaker 1: How did what wealth building lessons did you you learn 465 00:20:00,760 --> 00:20:02,120 Speaker 1: in your journey. 466 00:20:01,880 --> 00:20:05,520 Speaker 2: As a founder? Yeah, so that was really unique. 467 00:20:05,600 --> 00:20:08,840 Speaker 3: So one of my first investors was, you know, like 468 00:20:09,359 --> 00:20:12,040 Speaker 3: first Round Capital with Josh coffin First On Capital and 469 00:20:12,040 --> 00:20:15,159 Speaker 3: and the and some others, And I was kind. 470 00:20:15,000 --> 00:20:16,520 Speaker 2: Of I was a part of Dorman from one of 471 00:20:16,520 --> 00:20:19,440 Speaker 2: their first their first actually team in. 472 00:20:19,400 --> 00:20:22,159 Speaker 3: Philly and I and we and we knew a lot 473 00:20:22,200 --> 00:20:26,240 Speaker 3: of the investors in company their first round investment. I've 474 00:20:26,280 --> 00:20:29,160 Speaker 3: had the opportunity over the years to see friends sell 475 00:20:29,240 --> 00:20:34,800 Speaker 3: their companies and you're hundre percent right, sometimes like these exits. 476 00:20:34,440 --> 00:20:36,359 Speaker 2: What they are are not what they seem. 477 00:20:37,440 --> 00:20:41,000 Speaker 3: And a lot of times people don't talk about liquidation 478 00:20:41,119 --> 00:20:44,800 Speaker 3: preferences and dilution and all the terms that founders accept 479 00:20:45,119 --> 00:20:46,960 Speaker 3: like I have. Like there are people that will sell 480 00:20:47,000 --> 00:20:50,240 Speaker 3: their companies that people don't know. Some in some instances 481 00:20:50,440 --> 00:20:53,159 Speaker 3: they were forced to sell by their board to return 482 00:20:53,200 --> 00:20:56,199 Speaker 3: their front and the founders made nothing like there was 483 00:20:56,240 --> 00:20:59,720 Speaker 3: actually a recent examples in tech Crunch this real estate 484 00:20:59,720 --> 00:21:02,680 Speaker 3: a company sold for a billion dollars. Founders and early 485 00:21:02,680 --> 00:21:06,439 Speaker 3: employees made nothing, right, so people don't talk about that. 486 00:21:06,560 --> 00:21:09,880 Speaker 3: I think it's important. I think it's I think it's 487 00:21:09,880 --> 00:21:14,280 Speaker 3: so for me. I group scholarly profitly. But through that 488 00:21:14,560 --> 00:21:18,879 Speaker 3: process of selling the company, I inadvertently learned, oh my god, 489 00:21:19,040 --> 00:21:22,280 Speaker 3: Like I know, I seen X by a person sell 490 00:21:22,320 --> 00:21:25,480 Speaker 3: their company for thisbi or whatever. I made infinitely more 491 00:21:25,640 --> 00:21:27,920 Speaker 3: take home money in my pocket than they made. 492 00:21:28,440 --> 00:21:29,200 Speaker 2: Like you you got. 493 00:21:29,320 --> 00:21:31,120 Speaker 3: I'm talking about people selling their comfort of two hundred 494 00:21:31,119 --> 00:21:33,719 Speaker 3: and fifty million and walking away with two million dollars 495 00:21:34,040 --> 00:21:36,840 Speaker 3: right like like just like after ten years of work, 496 00:21:36,920 --> 00:21:40,000 Speaker 3: right where so like that is just something that is 497 00:21:40,040 --> 00:21:44,160 Speaker 3: really really really important. And I think that I think 498 00:21:44,200 --> 00:21:47,160 Speaker 3: it's important for founders, and I think AI has presented 499 00:21:47,200 --> 00:21:50,280 Speaker 3: an opportunity where you are able to build things faster 500 00:21:50,359 --> 00:21:53,640 Speaker 3: for much cheaper. I suggest a lot of founders lean 501 00:21:53,680 --> 00:21:57,600 Speaker 3: into that great and do milestone based fundraising that so 502 00:21:57,760 --> 00:21:59,720 Speaker 3: you can get to key milestones, so you can have 503 00:22:00,080 --> 00:22:03,240 Speaker 3: virgin these negotiations because you have the other end. What 504 00:22:03,280 --> 00:22:05,760 Speaker 3: happened in twenty twenty one, especially a lot of black founders. 505 00:22:06,400 --> 00:22:08,679 Speaker 3: They all that money poured into the space, and a 506 00:22:08,720 --> 00:22:10,320 Speaker 3: lot of them, and some of them are friends, I 507 00:22:10,359 --> 00:22:12,840 Speaker 3: won't name names. You know, some of them just got 508 00:22:12,960 --> 00:22:17,560 Speaker 3: huge valuations that they now struggling to get to the 509 00:22:17,640 --> 00:22:20,280 Speaker 3: revenue point to even sell board. So a lot of them, 510 00:22:20,640 --> 00:22:24,040 Speaker 3: like a now are stressed out because they're like I 511 00:22:24,119 --> 00:22:26,879 Speaker 3: may have a profitable, good business, but I may have 512 00:22:26,920 --> 00:22:28,639 Speaker 3: to wait another five to ten years just to get 513 00:22:28,840 --> 00:22:32,280 Speaker 3: enough revenue to be able to even justify my. 514 00:22:32,280 --> 00:22:35,400 Speaker 2: Current valuation, yet alone a larger valuation. 515 00:22:35,560 --> 00:22:40,120 Speaker 3: So those companies become zombie companies right where they are 516 00:22:40,240 --> 00:22:43,679 Speaker 3: just exists, but they really can't exit, and where if 517 00:22:43,680 --> 00:22:46,800 Speaker 3: they do exit, the founders essentially make nothing. So now 518 00:22:46,880 --> 00:22:49,600 Speaker 3: the founders aren't even working to generate wealth for themselves. 519 00:22:49,680 --> 00:22:52,720 Speaker 3: They're working to return somebody's fund, right, So that's the 520 00:22:53,080 --> 00:22:56,160 Speaker 3: So I through my process and what I've done, I 521 00:22:56,200 --> 00:22:58,960 Speaker 3: have I learned, and I went through I talked to bankers, 522 00:22:59,160 --> 00:23:02,199 Speaker 3: and I even talked to people at other vcs or 523 00:23:02,200 --> 00:23:04,440 Speaker 3: they were like, they were like you are you're so 524 00:23:04,520 --> 00:23:06,960 Speaker 3: I mean, they like most people don't build a company 525 00:23:06,960 --> 00:23:09,080 Speaker 3: for ten years and get to like, you know, thirty 526 00:23:09,080 --> 00:23:11,800 Speaker 3: forty million revenue like you did with like not raising capital, 527 00:23:11,840 --> 00:23:14,159 Speaker 3: but this since you did that, you don't know just 528 00:23:14,160 --> 00:23:17,639 Speaker 3: how economically like in better off you are than. 529 00:23:17,520 --> 00:23:18,240 Speaker 2: Some other founders. 530 00:23:18,320 --> 00:23:20,760 Speaker 3: So I think a lot of founders need to understand 531 00:23:20,760 --> 00:23:24,360 Speaker 3: the falticitim bargain you are sometimes signing up for when 532 00:23:24,400 --> 00:23:27,200 Speaker 3: you raise capital, especially once you get past that a 533 00:23:27,400 --> 00:23:28,880 Speaker 3: round and the terms that. 534 00:23:28,880 --> 00:23:29,720 Speaker 2: You are greeed to. 535 00:23:30,240 --> 00:23:33,240 Speaker 3: And also people think that, oh, you lose control of 536 00:23:33,280 --> 00:23:35,720 Speaker 3: your company when you dilute yourself to a point. No no, 537 00:23:35,720 --> 00:23:37,760 Speaker 3: no, no no, you lose your company. And the minute you 538 00:23:37,760 --> 00:23:40,680 Speaker 3: get aboard, the minute you have a board and there 539 00:23:40,680 --> 00:23:44,080 Speaker 3: are more people that are not you the outvote you, 540 00:23:44,080 --> 00:23:46,680 Speaker 3: you've lost control of your company. And people don't get that. 541 00:23:46,800 --> 00:23:49,040 Speaker 3: Like that's something people don't get there that your boy 542 00:23:49,119 --> 00:23:51,400 Speaker 3: can literally not only fire you, your boor can change 543 00:23:51,400 --> 00:23:53,840 Speaker 3: the structured organization. Your boy can force you to give 544 00:23:53,840 --> 00:23:55,320 Speaker 3: equity to someone you don't want to get to it 545 00:23:55,359 --> 00:23:57,080 Speaker 3: like your bor can force you to high Like people 546 00:23:57,119 --> 00:23:58,560 Speaker 3: don't get that. 547 00:23:58,640 --> 00:24:01,440 Speaker 2: So they're founders who really just hate. 548 00:24:01,240 --> 00:24:03,680 Speaker 3: Their board where like they fell out with this investor 549 00:24:03,720 --> 00:24:06,800 Speaker 3: this and whatever, and you know now they pigeonholed their 550 00:24:06,840 --> 00:24:08,800 Speaker 3: company and that board can also say, you know what, 551 00:24:09,160 --> 00:24:10,320 Speaker 3: we have a deal on the table. 552 00:24:10,760 --> 00:24:13,720 Speaker 2: We agree, we now want you to sell the company. 553 00:24:13,960 --> 00:24:16,040 Speaker 3: And depending on the terms of the deal, if it 554 00:24:16,040 --> 00:24:19,200 Speaker 3: doesn't require unanimous shareholder approval, you have to sell the. 555 00:24:19,119 --> 00:24:21,399 Speaker 2: Company even if you make nothing from the deal. Well, 556 00:24:22,320 --> 00:24:23,119 Speaker 2: it's unfortunate. 557 00:24:24,680 --> 00:24:28,200 Speaker 1: You know, there's a conversation that's been happening for years 558 00:24:28,200 --> 00:24:30,760 Speaker 1: and it's grown steam, and that is about the value 559 00:24:30,800 --> 00:24:34,400 Speaker 1: of a college education, college degree. And I wonder your 560 00:24:34,440 --> 00:24:39,400 Speaker 1: thoughts on you know, there's at least in Ohio where 561 00:24:39,400 --> 00:24:45,520 Speaker 1: I'm at, like there's this emphasis on you know, technical fields, 562 00:24:45,800 --> 00:24:48,560 Speaker 1: whether you're going to be, you know, an IT professional 563 00:24:48,640 --> 00:24:50,720 Speaker 1: and just get a certificate, whether you're going to be 564 00:24:50,720 --> 00:24:53,040 Speaker 1: in the trades, whether you're going to be in those 565 00:24:53,080 --> 00:24:56,639 Speaker 1: sorts of things. And I wonder, how how do you 566 00:24:56,680 --> 00:24:59,600 Speaker 1: think about that in the landscape of the future of education. 567 00:25:01,000 --> 00:25:04,800 Speaker 3: Yeah, I mean I feel like running Skolarly for ten years, 568 00:25:04,800 --> 00:25:07,760 Speaker 3: helping people pay for college. You almost felt like it's 569 00:25:07,800 --> 00:25:09,919 Speaker 3: like the you know, the parable of civisis push in 570 00:25:09,920 --> 00:25:12,439 Speaker 3: the rock up the mountain, like you continue to just 571 00:25:12,480 --> 00:25:13,560 Speaker 3: keep it rolls right back. 572 00:25:13,600 --> 00:25:13,679 Speaker 2: Now. 573 00:25:13,760 --> 00:25:16,240 Speaker 3: It was literally a problem I felt, a problem that 574 00:25:16,240 --> 00:25:19,160 Speaker 3: could never actually be solved. You could just only solve 575 00:25:19,280 --> 00:25:21,840 Speaker 3: it a little for as many people as you can. 576 00:25:22,320 --> 00:25:26,639 Speaker 3: I think too, I think college is valuable. College just 577 00:25:26,640 --> 00:25:28,440 Speaker 3: cost you that much. I mean, and it's just that's 578 00:25:28,480 --> 00:25:29,160 Speaker 3: just what it is. 579 00:25:29,280 --> 00:25:29,800 Speaker 2: I don't think that. 580 00:25:29,960 --> 00:25:33,000 Speaker 3: I don't think college the value of college with if 581 00:25:33,040 --> 00:25:36,560 Speaker 3: we look at the amount of friends, close relationships, co founders, 582 00:25:36,840 --> 00:25:39,440 Speaker 3: investor in the things that we get from that experience. 583 00:25:39,600 --> 00:25:41,560 Speaker 3: When you look at me, a first and rich college student, 584 00:25:42,000 --> 00:25:45,280 Speaker 3: people who come from like the hood, college is not 585 00:25:45,400 --> 00:25:47,840 Speaker 3: just going to get an education, it's their first time 586 00:25:47,880 --> 00:25:50,560 Speaker 3: being out of an environment where they are able to 587 00:25:50,600 --> 00:25:54,280 Speaker 3: be around other likelines and people, safe environments, like you know, 588 00:25:54,320 --> 00:25:56,880 Speaker 3: sometimes their families are sending them to college to protect 589 00:25:56,880 --> 00:25:59,720 Speaker 3: them literally, like you know, our friends from New York'sige 590 00:25:59,720 --> 00:26:02,080 Speaker 3: College where I'm from, where college were the first time 591 00:26:02,119 --> 00:26:04,520 Speaker 3: where they were able to like feel safe, be able 592 00:26:04,560 --> 00:26:07,560 Speaker 3: to get an education, be around like minded people, and 593 00:26:07,560 --> 00:26:11,919 Speaker 3: and have life changing opportunities and spaces you know, you know, 594 00:26:12,040 --> 00:26:13,560 Speaker 3: there were there were just different. 595 00:26:13,600 --> 00:26:16,640 Speaker 2: So I think that so I and I and I think. 596 00:26:16,440 --> 00:26:20,040 Speaker 3: That colleges have massive endowments, and I think that AI 597 00:26:20,200 --> 00:26:23,000 Speaker 3: is absolutely going to disrupt colleges I think I see 598 00:26:23,040 --> 00:26:25,880 Speaker 3: I foresee AI colleges happening where it's going to be. 599 00:26:26,040 --> 00:26:27,240 Speaker 2: Like where you're going to be able to get like 600 00:26:27,320 --> 00:26:28,320 Speaker 2: you know that I see. 601 00:26:28,840 --> 00:26:30,600 Speaker 3: And so I think what colleges are going to do 602 00:26:30,640 --> 00:26:34,240 Speaker 3: as shrink or or or liverge their endowments to create 603 00:26:34,320 --> 00:26:37,280 Speaker 3: programs like smaller programs you know that you can do 604 00:26:37,359 --> 00:26:41,080 Speaker 3: because colleges, if you look at the economics, colleges like 605 00:26:41,240 --> 00:26:44,720 Speaker 3: are some of the most profitable businesses you can never 606 00:26:44,800 --> 00:26:48,680 Speaker 3: name because you because their revenue every years federal student loans, right, 607 00:26:48,720 --> 00:26:50,560 Speaker 3: so they know they can charge you whatever they want 608 00:26:51,600 --> 00:26:52,919 Speaker 3: and they know you're going to you're going to get 609 00:26:52,920 --> 00:26:55,320 Speaker 3: it from a source, right. And this new administration that 610 00:26:55,440 --> 00:26:59,080 Speaker 3: you can see what happened this week, they just said, no, 611 00:26:59,640 --> 00:27:00,520 Speaker 3: you won't be doing that. 612 00:27:00,720 --> 00:27:03,040 Speaker 2: So I think that I think that there's going to. 613 00:27:02,960 --> 00:27:06,000 Speaker 3: Be forced adoption of things that make it more for 614 00:27:06,080 --> 00:27:09,119 Speaker 3: it because even they even said they want to actually 615 00:27:09,240 --> 00:27:12,480 Speaker 3: change where pill grants can be used for workforce bloot 616 00:27:12,480 --> 00:27:16,240 Speaker 3: camps and vocational schools now, so they're saying yeah. So 617 00:27:16,840 --> 00:27:19,359 Speaker 3: I think once that happens, I think college enrollment is 618 00:27:19,400 --> 00:27:21,000 Speaker 3: going to stop outside of the Ivy. 619 00:27:20,880 --> 00:27:22,920 Speaker 2: League schools who pay for you to go anyway. 620 00:27:23,720 --> 00:27:25,879 Speaker 3: And I think that there's going to be a real, 621 00:27:26,359 --> 00:27:28,639 Speaker 3: a real exodus, and I think there's going to be 622 00:27:28,680 --> 00:27:32,080 Speaker 3: a college on have to correct themselves because because some 623 00:27:32,160 --> 00:27:35,440 Speaker 3: college have been predatory where they'll say, hey, oh you 624 00:27:35,920 --> 00:27:38,520 Speaker 3: can our accepted three will be eighty five percent. They 625 00:27:38,560 --> 00:27:40,920 Speaker 3: know they're accepting students who are remedial, who can't do 626 00:27:40,960 --> 00:27:42,800 Speaker 3: who's going to drop out, but they don't care because 627 00:27:42,920 --> 00:27:45,439 Speaker 3: they get that first year student loan revenue, right, so 628 00:27:45,480 --> 00:27:47,879 Speaker 3: they let you in. So they're The argument to be 629 00:27:47,960 --> 00:27:50,440 Speaker 3: had of putting some sort of barrier between a student 630 00:27:50,720 --> 00:27:53,080 Speaker 3: and college is to really make sure college are accepting 631 00:27:53,119 --> 00:27:55,840 Speaker 3: students who can actually read in right, not just accepting 632 00:27:55,840 --> 00:27:57,680 Speaker 3: them because they want them to take out a student 633 00:27:57,720 --> 00:27:59,479 Speaker 3: loan and they want to get that twenty five thousand 634 00:27:59,480 --> 00:28:02,240 Speaker 3: dollars in revenue from that student student a year because 635 00:28:02,400 --> 00:28:04,840 Speaker 3: they're enrollment over the past few years have been dropping. 636 00:28:05,440 --> 00:28:09,680 Speaker 1: Yeah, what is in Chris's E d C Your every 637 00:28:09,760 --> 00:28:12,160 Speaker 1: day Carrie? What are those things that you've always got 638 00:28:12,200 --> 00:28:14,399 Speaker 1: to have like close by And it can't be your phone, 639 00:28:14,520 --> 00:28:16,359 Speaker 1: It's got to be like, what are the things that 640 00:28:16,720 --> 00:28:19,680 Speaker 1: whether you're in the car on the train or walking. 641 00:28:20,840 --> 00:28:23,679 Speaker 1: You got to have these things to function as an 642 00:28:23,760 --> 00:28:25,680 Speaker 1: entrepreneur as as as a person. 643 00:28:26,440 --> 00:28:29,879 Speaker 3: Uh all the time. But been in a car, I 644 00:28:30,160 --> 00:28:34,359 Speaker 3: say as an entrepreneur, I don't. I mean like again, 645 00:28:34,440 --> 00:28:36,720 Speaker 3: outside of your phone, if you say, your laptop or anything. 646 00:28:37,080 --> 00:28:41,360 Speaker 3: But I think that for me, yeah, I mean you 647 00:28:41,440 --> 00:28:47,280 Speaker 3: took all the technical stuff out. I mean that's like 648 00:28:47,480 --> 00:28:49,200 Speaker 3: like when you're in a college, think about anything you're doing. 649 00:28:49,880 --> 00:28:52,440 Speaker 3: I think, I think something you know that I always 650 00:28:52,520 --> 00:28:54,880 Speaker 3: kind of have access to. It may not be every 651 00:28:54,920 --> 00:28:57,840 Speaker 3: with me, but I think every auctionneur at least. I 652 00:28:57,880 --> 00:29:00,440 Speaker 3: mean when you are working every day and the business 653 00:29:00,520 --> 00:29:03,600 Speaker 3: and now doing that again and from like day one 654 00:29:03,760 --> 00:29:07,920 Speaker 3: starting off, you you need something that puts you on 655 00:29:08,000 --> 00:29:11,920 Speaker 3: a world that's outside of work, like and where work 656 00:29:12,040 --> 00:29:12,680 Speaker 3: is not involved. 657 00:29:12,680 --> 00:29:15,160 Speaker 2: And for me, I actually love anime. So anime. A 658 00:29:15,160 --> 00:29:16,160 Speaker 2: lot of people don't know that. 659 00:29:16,240 --> 00:29:19,840 Speaker 3: So I literally love anime and uh, and that actually 660 00:29:19,920 --> 00:29:23,000 Speaker 3: is one of the few things where I immerse myself 661 00:29:23,040 --> 00:29:25,920 Speaker 3: in something that's fantasy, something that is not related to work. 662 00:29:26,200 --> 00:29:28,400 Speaker 3: And it's also something that is actually if you know, 663 00:29:28,520 --> 00:29:30,240 Speaker 3: anime is actually intellectual day. 664 00:29:30,240 --> 00:29:31,080 Speaker 2: It's actually for adults. 665 00:29:31,080 --> 00:29:33,640 Speaker 3: It's not like it's not Powerpuff Girls, it's actually like 666 00:29:33,680 --> 00:29:36,320 Speaker 3: really deep stuff and that that allows me to kind of. 667 00:29:36,520 --> 00:29:38,120 Speaker 2: Unplug a bit and be able to do that. 668 00:29:39,160 --> 00:29:42,400 Speaker 3: Yeah, and just really just outside of like technology and 669 00:29:42,520 --> 00:29:45,360 Speaker 3: uh you know a cocktail here and there that that helps. 670 00:29:46,280 --> 00:29:48,200 Speaker 3: I think that, you know, being able to have those 671 00:29:48,240 --> 00:29:51,520 Speaker 3: things around me even and even as on screen tabs 672 00:29:51,560 --> 00:29:53,760 Speaker 3: around me, just I think access to that has been 673 00:29:54,200 --> 00:29:57,200 Speaker 3: something that is that that has been just you know, 674 00:29:57,480 --> 00:30:00,920 Speaker 3: giving me a place to place my brain when I 675 00:30:01,120 --> 00:30:03,479 Speaker 3: when I'm done or not do not want to think 676 00:30:03,480 --> 00:30:03,960 Speaker 3: about work. 677 00:30:05,080 --> 00:30:12,120 Speaker 1: Yeah. Finally, you know, how do you decide which problems 678 00:30:12,160 --> 00:30:15,080 Speaker 1: are worth solving? As an entrepreneur and as a founder. 679 00:30:16,080 --> 00:30:19,720 Speaker 3: I think that problems I think you we're all, we 680 00:30:19,880 --> 00:30:22,880 Speaker 3: all are better suited to solve problem that we want. 681 00:30:23,000 --> 00:30:26,280 Speaker 3: Have domain expertise too, where you have a background of 682 00:30:26,840 --> 00:30:29,800 Speaker 3: solving that problem at another company or your life or 683 00:30:29,920 --> 00:30:33,680 Speaker 3: some other entpreneurial venture or something that's close to home, right, 684 00:30:34,680 --> 00:30:37,000 Speaker 3: And I think that people are a better positioned and 685 00:30:37,040 --> 00:30:40,360 Speaker 3: frankly going to be more passionate about solving problems that 686 00:30:40,400 --> 00:30:44,360 Speaker 3: they know. Like for example, like when I when I 687 00:30:44,400 --> 00:30:47,800 Speaker 3: talk to investor about path and they see what I 688 00:30:47,840 --> 00:30:49,720 Speaker 3: did with SCOTL. They're like no brainer, right, Like, Okay, 689 00:30:49,760 --> 00:30:51,840 Speaker 3: you are the right person because you you did it 690 00:30:51,920 --> 00:30:54,400 Speaker 3: one you built the company, but you also are passionate 691 00:30:54,400 --> 00:30:58,000 Speaker 3: about this and also there's also I have connections now 692 00:30:58,040 --> 00:30:59,600 Speaker 3: and all that, so we can accelerate the So but 693 00:30:59,720 --> 00:31:03,800 Speaker 3: even just from a fiduche perspective, you will have you 694 00:31:03,840 --> 00:31:07,320 Speaker 3: will grow a bigger and better business just simply being 695 00:31:07,760 --> 00:31:09,760 Speaker 3: have it solving a problem that you know very well 696 00:31:10,000 --> 00:31:13,000 Speaker 3: because you're not because there's less iterations like scholarly, I 697 00:31:13,040 --> 00:31:13,960 Speaker 3: didn't have to iterate the problem. 698 00:31:14,000 --> 00:31:15,560 Speaker 2: I'm like, I want a million dollars scholarships. 699 00:31:15,560 --> 00:31:17,520 Speaker 3: I knew, I knew what it took to find scholarships, right, 700 00:31:17,760 --> 00:31:21,160 Speaker 3: I knew exactly on the from ground your level. Versus 701 00:31:21,200 --> 00:31:23,800 Speaker 3: if I said I'm going to start a biotech company 702 00:31:23,880 --> 00:31:28,280 Speaker 3: to turn frog into rodents, right like right like that 703 00:31:28,280 --> 00:31:30,000 Speaker 3: that you know, that sort of thing wouldn't be there. 704 00:31:30,040 --> 00:31:33,640 Speaker 3: So I do think solving problems that are close to home, 705 00:31:34,080 --> 00:31:37,200 Speaker 3: or solving problems what you spent, or solving problems that 706 00:31:37,240 --> 00:31:40,959 Speaker 3: are extension of something you did professionally really working. You see, 707 00:31:41,000 --> 00:31:43,480 Speaker 3: even in the venture market, those are the people that 708 00:31:43,480 --> 00:31:47,000 Speaker 3: get funded, right Like like investors want to see, okay 709 00:31:47,040 --> 00:31:49,600 Speaker 3: that you are solving this problem because you have to 710 00:31:49,640 --> 00:31:54,080 Speaker 3: be and frankly, just from a risk a risk profile perspective, 711 00:31:54,320 --> 00:31:56,280 Speaker 3: who's less risky of the person that needs to spend 712 00:31:56,280 --> 00:31:59,000 Speaker 3: three four years learning this industry or learning what this 713 00:31:59,280 --> 00:32:01,520 Speaker 3: understand is problem album or a group of people or 714 00:32:01,560 --> 00:32:03,680 Speaker 3: spend or or who can or who. 715 00:32:03,480 --> 00:32:04,320 Speaker 2: Knows that from the start. 716 00:32:04,600 --> 00:32:09,120 Speaker 3: I'll take, for example, if you know the company frank 717 00:32:09,280 --> 00:32:11,760 Speaker 3: that was actually a scholar competitor, the girl got arrested 718 00:32:11,800 --> 00:32:15,680 Speaker 3: for fraud and she's getting convicted all that, and one 719 00:32:15,720 --> 00:32:18,080 Speaker 3: of the biggest flaws of her product is that she 720 00:32:18,280 --> 00:32:20,680 Speaker 3: was saying they were really scholar, but she was saying 721 00:32:20,720 --> 00:32:25,000 Speaker 3: that they could do the faster for people in the 722 00:32:25,080 --> 00:32:28,720 Speaker 3: faster for people in like minutes. Come to find out 723 00:32:28,800 --> 00:32:33,400 Speaker 3: they were doing that by omitting key questions that students needed, 724 00:32:33,960 --> 00:32:38,360 Speaker 3: especially low income students to get all day. So of course, 725 00:32:38,400 --> 00:32:41,320 Speaker 3: when you look at a rich white girl who's from 726 00:32:41,760 --> 00:32:44,600 Speaker 3: from like West, from all way, a wealthy. 727 00:32:44,880 --> 00:32:47,200 Speaker 2: New York try to solve a problem for. 728 00:32:47,280 --> 00:32:50,400 Speaker 3: Low income students who she had net related to, she 729 00:32:50,440 --> 00:32:53,000 Speaker 3: would create a problem. Oh this is great, that doesn't 730 00:32:53,040 --> 00:32:56,040 Speaker 3: that literally hurts this far more than you and then 731 00:32:56,040 --> 00:32:57,800 Speaker 3: it ends up being fraud and all that. So I 732 00:32:57,840 --> 00:32:59,320 Speaker 3: think that that's kind of you know, those are a 733 00:32:59,360 --> 00:33:01,440 Speaker 3: gay even though she a problems general. But I think 734 00:33:01,480 --> 00:33:04,560 Speaker 3: even from a product perspective, it informs what you deal 735 00:33:04,600 --> 00:33:05,520 Speaker 3: and how you build it. 736 00:33:06,240 --> 00:33:08,680 Speaker 1: Black Tech Green Money is a production of Blavity Afro 737 00:33:08,800 --> 00:33:11,680 Speaker 1: Tech on the Black Effect podcast Networking Night Hied Media. 738 00:33:11,840 --> 00:33:15,040 Speaker 1: It's produced by Morgan Debonne and me Well Lucas, with 739 00:33:15,120 --> 00:33:18,160 Speaker 1: the digital production support by Kate McDonald s, Ergan and 740 00:33:18,240 --> 00:33:21,240 Speaker 1: Jada McGee. Special thank you to Michael Davis and Love Beach. 741 00:33:21,560 --> 00:33:23,400 Speaker 1: Learn more about my guessing other Tech. This shop is 742 00:33:23,400 --> 00:33:26,640 Speaker 1: an innovators at afrotech dot com. The video version this 743 00:33:26,720 --> 00:33:29,160 Speaker 1: episode will drop to Black Tech Green Money on YouTube, 744 00:33:29,200 --> 00:33:32,600 Speaker 1: So tap in, enjoy your Black Tech Green Money, share 745 00:33:32,680 --> 00:33:34,960 Speaker 1: us to somebody, go get your money. 746 00:33:35,560 --> 00:33:36,160 Speaker 2: Piece in Love