1 00:00:13,720 --> 00:00:17,200 Speaker 1: So people have written books and some of the common 2 00:00:17,200 --> 00:00:19,880 Speaker 1: threads and successful people. No one who's ever been in 3 00:00:19,880 --> 00:00:21,360 Speaker 1: this show, by the way, he's ever mentioned this as 4 00:00:21,400 --> 00:00:24,239 Speaker 1: a reason they're successful. So take that however you want. 5 00:00:24,280 --> 00:00:27,280 Speaker 1: But I have said that sitting down with the family 6 00:00:27,320 --> 00:00:31,040 Speaker 1: every night at a dinner time. Now, just today, for example, 7 00:00:31,120 --> 00:00:34,599 Speaker 1: Bryn had eaten She's been too sick for a couple 8 00:00:34,640 --> 00:00:36,840 Speaker 1: of days, but she I made her some fried rice 9 00:00:36,880 --> 00:00:38,519 Speaker 1: and she sat down and eat that, and then I 10 00:00:38,600 --> 00:00:40,720 Speaker 1: went to make myself a salad, and I said, do 11 00:00:40,720 --> 00:00:42,360 Speaker 1: you want to come down and say with mom? Granted, 12 00:00:42,360 --> 00:00:44,120 Speaker 1: we've been in the pandemic and we've had many meals 13 00:00:44,159 --> 00:00:46,920 Speaker 1: together and we've cooked together and it's been amazing. But 14 00:00:47,479 --> 00:00:49,960 Speaker 1: I don't subscribe to everybody's going to be hungry at 15 00:00:50,000 --> 00:00:55,040 Speaker 1: the same time philosophy. My daughter wakes up sometimes during 16 00:00:55,040 --> 00:00:57,720 Speaker 1: the summer, in particularly late, and she's one of those 17 00:00:57,720 --> 00:01:00,360 Speaker 1: people that doesn't want to eat food when she first 18 00:01:00,360 --> 00:01:06,480 Speaker 1: wakes up. And growing up, everything everybody said, every news 19 00:01:06,520 --> 00:01:09,560 Speaker 1: thing said, just like the fact that you know, now 20 00:01:10,360 --> 00:01:14,080 Speaker 1: Keto is Neto and nobody has eaten rice in five years. 21 00:01:14,200 --> 00:01:17,240 Speaker 1: And when I was growing up, the keto thing was Atkins, 22 00:01:17,280 --> 00:01:20,319 Speaker 1: and everyone ate their waiting bacon and steak and cheese, 23 00:01:20,319 --> 00:01:23,040 Speaker 1: and that was okay, but eating a piece of watermelon 24 00:01:23,160 --> 00:01:25,679 Speaker 1: was bad. And then everybody went to eating only piles 25 00:01:25,720 --> 00:01:27,800 Speaker 1: of pasta because this woman, Susan Powder said if it 26 00:01:27,800 --> 00:01:30,559 Speaker 1: didn't have any any fat, but it had all carbs, 27 00:01:30,640 --> 00:01:32,520 Speaker 1: it was okay. We're all fucking nuts. Let's just put 28 00:01:32,520 --> 00:01:35,040 Speaker 1: it that when we are all fucking nuts. But when 29 00:01:35,080 --> 00:01:36,560 Speaker 1: we were growing up, it was breakfast is the most 30 00:01:36,560 --> 00:01:39,319 Speaker 1: important meal. You have to have. Breakfast, breakfast, breakfast, breakfast, breakfast. 31 00:01:39,680 --> 00:01:42,039 Speaker 1: And I've been saying for years, even since I wrote 32 00:01:42,040 --> 00:01:45,000 Speaker 1: my book Naturally Thin, your body knows what it wants 33 00:01:45,000 --> 00:01:48,440 Speaker 1: to do. Oh sorry, now it's interimin fasting. So now 34 00:01:48,480 --> 00:01:52,120 Speaker 1: intamin fasting has taken over with breakfast. I mean, like 35 00:01:52,120 --> 00:01:53,920 Speaker 1: it's we're all fucking nuts. Like for years we've been 36 00:01:53,920 --> 00:01:56,080 Speaker 1: saying breakfast, Oh my god, breakfast. Oh my god, you're 37 00:01:56,080 --> 00:01:57,680 Speaker 1: a loser. You don't need breakfast. Oh my god, you're 38 00:01:57,680 --> 00:02:00,520 Speaker 1: fat because you need breakfast. You're done healthy because you 39 00:02:00,520 --> 00:02:03,960 Speaker 1: need breakfast. Now you're a loser and you're unhealthy and 40 00:02:03,960 --> 00:02:05,800 Speaker 1: you're overweight if you did at breakfast because summosed to 41 00:02:05,800 --> 00:02:08,679 Speaker 1: be fasting. So I don't believe that everybody's supposed to 42 00:02:08,680 --> 00:02:10,959 Speaker 1: be eating meals at the exact same time, because I 43 00:02:11,000 --> 00:02:14,040 Speaker 1: don't believe everyboy's body works exactly the same. And I 44 00:02:14,200 --> 00:02:17,840 Speaker 1: late night snack. Sorry, years ago, I was probably twenty 45 00:02:18,080 --> 00:02:20,160 Speaker 1: pounds heavier, and I didn't late and I didn't late 46 00:02:20,200 --> 00:02:21,960 Speaker 1: night snack because you're an allowed to late night snack. 47 00:02:22,400 --> 00:02:25,480 Speaker 1: Avocado was the devil. Okay, Avocado was the goddamn devil. 48 00:02:25,520 --> 00:02:28,320 Speaker 1: Now avocado people are drinking avocado, make an ice cream 49 00:02:28,320 --> 00:02:31,600 Speaker 1: with avocado, making moose with avocado. Avocado was the goddamn devil. 50 00:02:31,840 --> 00:02:34,320 Speaker 1: Back in the eighties and nineties, so was that was 51 00:02:34,360 --> 00:02:36,560 Speaker 1: the days of Harry met Sally. Everything on the side, 52 00:02:36,960 --> 00:02:41,040 Speaker 1: steamed vegetables, steamed grilled chicken, oils the devil than olive 53 00:02:41,080 --> 00:02:44,760 Speaker 1: oi than olive oil, was that the Messiah. It's good 54 00:02:44,800 --> 00:02:46,560 Speaker 1: for your hair, it's your skin, it's comf your nails. 55 00:02:46,560 --> 00:02:49,160 Speaker 1: The Italians love it. Red wine drinking was the devil, 56 00:02:49,200 --> 00:02:51,200 Speaker 1: and all of a sudden, red wine antioxidants good for 57 00:02:51,240 --> 00:02:53,680 Speaker 1: your heart, drinking five bottles of wine because I'm trying to, 58 00:02:53,760 --> 00:02:56,600 Speaker 1: you know, make my heart better. I mean, we're all insane. 59 00:02:57,000 --> 00:03:00,440 Speaker 1: I could go on ten months about this. So eating 60 00:03:00,560 --> 00:03:02,640 Speaker 1: meals at the same time, I like to sit down 61 00:03:02,639 --> 00:03:04,600 Speaker 1: and experience my daughter's eating and I'm not eating. I 62 00:03:04,600 --> 00:03:06,840 Speaker 1: want to sit down with her and talk. Sometimes I'll 63 00:03:06,880 --> 00:03:08,280 Speaker 1: just make something so I can sit down and we 64 00:03:08,280 --> 00:03:10,920 Speaker 1: can do it together. Many times we eat together. Many 65 00:03:10,960 --> 00:03:14,680 Speaker 1: times we cook or order and we eat together. Also, 66 00:03:14,760 --> 00:03:16,760 Speaker 1: your kids don't always like the same stuff as you too, 67 00:03:17,000 --> 00:03:19,640 Speaker 1: and there may be a big gap. You know, my 68 00:03:19,720 --> 00:03:21,760 Speaker 1: daughter had a phace for to be a vegetarian, and 69 00:03:21,760 --> 00:03:23,560 Speaker 1: she also doesn't like a lot of meat. It's just 70 00:03:23,600 --> 00:03:26,000 Speaker 1: not what she chooses. So if you're that family sitting 71 00:03:26,040 --> 00:03:28,880 Speaker 1: down with the pro Because men men like the protein 72 00:03:29,520 --> 00:03:32,440 Speaker 1: and the upper upper left third quadrant of the plate 73 00:03:32,880 --> 00:03:36,280 Speaker 1: the grain or the potato, and the upper right quadrant 74 00:03:36,800 --> 00:03:39,880 Speaker 1: the you know, the different type of grain or different 75 00:03:39,880 --> 00:03:42,200 Speaker 1: type of starch event I mean, and then the you 76 00:03:42,240 --> 00:03:45,960 Speaker 1: know what is it? The grain, the protein, like the vegetable. 77 00:03:46,200 --> 00:03:47,960 Speaker 1: That's how men like to eat. Sorry, it's a trio 78 00:03:48,720 --> 00:03:51,400 Speaker 1: like like a like a modern TV dinner women don't 79 00:03:51,440 --> 00:03:53,680 Speaker 1: women could eat. And I'm sorry because I'm gonna be 80 00:03:53,720 --> 00:03:57,400 Speaker 1: canceled for making men. What do you view men like that? Men? 81 00:03:57,960 --> 00:04:00,680 Speaker 1: Also like to eat homosan toast with your aid vegetable 82 00:04:00,680 --> 00:04:04,640 Speaker 1: soup for dinner. So but in my experience, men like 83 00:04:05,120 --> 00:04:08,360 Speaker 1: the meat the protein of that, maybe the vegetable, and 84 00:04:08,720 --> 00:04:14,320 Speaker 1: women could eat a canatuna, hummus soup, scrambled eggs, whatever 85 00:04:14,360 --> 00:04:17,440 Speaker 1: for dinner. So I don't know what the any of 86 00:04:17,520 --> 00:04:19,120 Speaker 1: that means. And I'd like to hear what you think 87 00:04:19,160 --> 00:04:29,520 Speaker 1: about that malarkey that I'm talking about. My guest today 88 00:04:29,600 --> 00:04:33,760 Speaker 1: is Charles Gora. He is the CEO and founder of Rebag, 89 00:04:34,560 --> 00:04:38,520 Speaker 1: a company that buys, sells, and exchanges use designer goods. 90 00:04:39,200 --> 00:04:43,560 Speaker 1: It's a very successful company that is innovative, up and coming, 91 00:04:43,920 --> 00:04:45,960 Speaker 1: and you may not have heard of it, but you 92 00:04:46,040 --> 00:04:50,479 Speaker 1: definitely will. Even though he's in the midst of his journey, 93 00:04:50,480 --> 00:04:52,880 Speaker 1: meaning it's not like he's looking back to tell us 94 00:04:52,920 --> 00:04:56,600 Speaker 1: all of the incredible and brilliant things he's done. He's 95 00:04:56,720 --> 00:05:00,160 Speaker 1: on the road, which is unique. Um, but I think 96 00:05:00,160 --> 00:05:02,040 Speaker 1: you're gonna learn a lot from him. He's a graduate 97 00:05:02,040 --> 00:05:04,760 Speaker 1: of Harvard Business School. He's developed his business from the 98 00:05:04,800 --> 00:05:07,680 Speaker 1: ground up, and we talked about his opinion on college, 99 00:05:07,960 --> 00:05:10,520 Speaker 1: how to take advantage of s e O and the 100 00:05:10,520 --> 00:05:13,720 Speaker 1: importance of having a strong team. I hope you enjoy this. 101 00:05:13,880 --> 00:05:17,159 Speaker 1: It's very different. He has a different perspective on certain things, 102 00:05:17,560 --> 00:05:20,560 Speaker 1: and I think that he's taken a more traditional route 103 00:05:20,960 --> 00:05:25,120 Speaker 1: to then being an entrepreneur. So let's see what you think. 104 00:05:31,360 --> 00:05:37,760 Speaker 1: So this is Charles Gora, who is the CEO of Rebag. 105 00:05:38,240 --> 00:05:43,960 Speaker 1: You are in the luxury resale handbag business. Would that 106 00:05:44,000 --> 00:05:47,000 Speaker 1: be the proper description of what you do? Yeah? Correct? 107 00:05:47,080 --> 00:05:50,560 Speaker 1: Even now we're even in the accessories business because we 108 00:05:50,600 --> 00:05:55,159 Speaker 1: also do jewelry and time pieces and all sorts of accessories. Correct, 109 00:05:55,400 --> 00:05:59,680 Speaker 1: and Rebag. Which is an interesting conversation because the name 110 00:05:59,760 --> 00:06:03,040 Speaker 1: is bag. So when you came up with the name, 111 00:06:03,760 --> 00:06:07,520 Speaker 1: were you thinking of it just for handens? Yeah, that's true. 112 00:06:07,520 --> 00:06:09,159 Speaker 1: You know, we we all first of all, as you know, 113 00:06:09,240 --> 00:06:12,960 Speaker 1: it's very hard to find a name. So the story 114 00:06:13,040 --> 00:06:15,880 Speaker 1: behind the story is that at the time, you know, 115 00:06:15,920 --> 00:06:18,760 Speaker 1: even setting of Rebag, you know, people don't really like 116 00:06:18,920 --> 00:06:21,800 Speaker 1: names when you throw them out there, right, and then 117 00:06:21,880 --> 00:06:23,919 Speaker 1: it's something that you get to know the name, and 118 00:06:23,960 --> 00:06:26,599 Speaker 1: then the name becomes some kind of reality of its own, 119 00:06:27,040 --> 00:06:29,080 Speaker 1: And I think that's kind of what is happening there. Like, 120 00:06:29,200 --> 00:06:32,560 Speaker 1: of course, we started very literally with re bag. You know, 121 00:06:32,680 --> 00:06:34,840 Speaker 1: we're buying and selling bags, and by the way, that's 122 00:06:34,839 --> 00:06:37,080 Speaker 1: still the bulk of what we do. You can buy 123 00:06:37,120 --> 00:06:39,400 Speaker 1: and sell in trade your luxury bags. But the reality 124 00:06:39,440 --> 00:06:43,599 Speaker 1: is as time passes on, there's that other The brand 125 00:06:43,680 --> 00:06:46,720 Speaker 1: kind of superseds the product, I think, and it's more 126 00:06:46,720 --> 00:06:49,000 Speaker 1: about the metaphor, you know, what is the bag. It's 127 00:06:49,040 --> 00:06:51,080 Speaker 1: kind of think about the bag with the big b 128 00:06:51,560 --> 00:06:54,599 Speaker 1: you know, think about this kind of virtual closet of 129 00:06:54,839 --> 00:06:57,960 Speaker 1: what you own and the luxury products that's there. And 130 00:06:58,000 --> 00:07:00,680 Speaker 1: so we haven't seen too much of a problem and 131 00:07:00,680 --> 00:07:03,960 Speaker 1: and the trust has I guess past so far into 132 00:07:04,000 --> 00:07:07,960 Speaker 1: those other categories. Well, I absolutely agree. But now a 133 00:07:08,040 --> 00:07:11,040 Speaker 1: Republic used to be a safari store with jeeps in it, 134 00:07:11,120 --> 00:07:13,320 Speaker 1: and it looked like you were sort of literally in 135 00:07:13,400 --> 00:07:16,320 Speaker 1: Africa on a safari. And then people just were saying 136 00:07:16,320 --> 00:07:18,680 Speaker 1: the name Banna Republic but didn't know what it really meant. 137 00:07:18,720 --> 00:07:21,320 Speaker 1: And apple is a fruit, but we don't think of 138 00:07:21,360 --> 00:07:23,480 Speaker 1: the fruit when we think of the product. So the 139 00:07:23,560 --> 00:07:28,440 Speaker 1: brand name transcends what it is um And that's what 140 00:07:28,480 --> 00:07:30,720 Speaker 1: I say about Skinny Girl too. It's two It's not 141 00:07:30,800 --> 00:07:32,880 Speaker 1: two words, it's one word. And I don't think that 142 00:07:32,920 --> 00:07:36,640 Speaker 1: everybody's always thinking literally about that, but I still I 143 00:07:36,640 --> 00:07:38,200 Speaker 1: am aware of it and I think about it. And 144 00:07:38,200 --> 00:07:40,920 Speaker 1: that's something interesting for people listening just about when you're 145 00:07:41,040 --> 00:07:45,040 Speaker 1: naming a product, but you are the CEO. So what 146 00:07:45,080 --> 00:07:47,920 Speaker 1: was your upbringing like, like who where do you come from? 147 00:07:48,200 --> 00:07:53,400 Speaker 1: And what was your relationship to work and work ethic 148 00:07:53,480 --> 00:07:57,520 Speaker 1: and being successful in business? Yeah, so so initial least, 149 00:07:57,520 --> 00:08:00,600 Speaker 1: I'm not I'm not American. I'm French. I've been here 150 00:08:00,640 --> 00:08:02,960 Speaker 1: for now about ten years, right, so you may you 151 00:08:03,000 --> 00:08:06,320 Speaker 1: may hear that in that accent. Um, I've been here 152 00:08:06,360 --> 00:08:08,600 Speaker 1: about ten years. So I grew up south of France 153 00:08:08,840 --> 00:08:12,600 Speaker 1: technically in a smaller country, Monaco, which is it's like 154 00:08:12,760 --> 00:08:16,000 Speaker 1: separate country actually the second smallest country in the world, 155 00:08:16,040 --> 00:08:19,200 Speaker 1: so more like a village, right, So it's only like 156 00:08:19,240 --> 00:08:23,600 Speaker 1: thirty thou people, so it's very it's very tiny. Um. Yeah, 157 00:08:23,640 --> 00:08:25,560 Speaker 1: I was very lucky. My parents, you know, they're very 158 00:08:25,560 --> 00:08:28,560 Speaker 1: They're also immigrants, you know where they were, so I 159 00:08:28,600 --> 00:08:32,760 Speaker 1: guess my family has moved twice across generation. My dad 160 00:08:32,840 --> 00:08:36,880 Speaker 1: was born in Egypt actually right so north North Africa, 161 00:08:36,960 --> 00:08:38,800 Speaker 1: and he moved when he was like eight year old 162 00:08:39,240 --> 00:08:41,600 Speaker 1: and now he's French. But so they had to build 163 00:08:41,640 --> 00:08:45,240 Speaker 1: sort of there his own integration there, you know, through 164 00:08:45,280 --> 00:08:47,600 Speaker 1: the years, and then I think what it built. And 165 00:08:47,640 --> 00:08:50,400 Speaker 1: my mom was local, you know, my my grandparents like 166 00:08:50,679 --> 00:08:54,400 Speaker 1: gardener and nerves, so they're very local people South difference, 167 00:08:54,480 --> 00:08:56,880 Speaker 1: and so they grew up to to start up their 168 00:08:56,920 --> 00:08:59,160 Speaker 1: own like law firm, you know, so they worked together 169 00:08:59,320 --> 00:09:03,400 Speaker 1: actually with is interesting. So I've always been into that 170 00:09:03,600 --> 00:09:05,839 Speaker 1: entrepreneur world and in the scent that you know, if 171 00:09:05,880 --> 00:09:07,680 Speaker 1: you're you know, there are the two of them in 172 00:09:07,720 --> 00:09:10,760 Speaker 1: their law firm, and that's building a company, right. It's 173 00:09:10,760 --> 00:09:14,520 Speaker 1: not a product, it's a service, but there's this entrepreneur 174 00:09:14,679 --> 00:09:18,520 Speaker 1: mindset of you know, you're working for your own think, right, 175 00:09:18,559 --> 00:09:21,480 Speaker 1: and so I've always had that that role models if 176 00:09:21,520 --> 00:09:25,760 Speaker 1: you will of just work hard and earn what you get. 177 00:09:26,040 --> 00:09:29,360 Speaker 1: So were you wealthy? Was it upper middle class? Middle 178 00:09:29,360 --> 00:09:32,360 Speaker 1: class or upper class? No, I would say, I don't 179 00:09:32,360 --> 00:09:34,640 Speaker 1: love the term, but I come from Monacle, So usually 180 00:09:34,640 --> 00:09:37,960 Speaker 1: when I say this, people assume I'm some kind of millionaire. 181 00:09:38,280 --> 00:09:40,640 Speaker 1: That's why I'm asking that because not ago, I didn't 182 00:09:40,640 --> 00:09:42,960 Speaker 1: know it was only thirty people, and for everybody listening, 183 00:09:43,000 --> 00:09:45,000 Speaker 1: it sounds like you you know, I grew up in 184 00:09:45,000 --> 00:09:47,040 Speaker 1: the south of France, and that sounds major, But I 185 00:09:47,120 --> 00:09:49,800 Speaker 1: have to be local people that make that community thrive, 186 00:09:49,880 --> 00:09:53,400 Speaker 1: that are not billionaires. No, no, it's I'm definitely not that. 187 00:09:53,440 --> 00:09:56,360 Speaker 1: But I'm also most lucky that most people. I think 188 00:09:56,360 --> 00:09:59,079 Speaker 1: it's simple. If you see, it's interesting. If you ask anyone, 189 00:09:59,120 --> 00:10:03,200 Speaker 1: it's very interesting, as anyone do they feel rich, you know, 190 00:10:03,240 --> 00:10:05,480 Speaker 1: and they say, oh, I'm not rich. That other person 191 00:10:05,600 --> 00:10:07,960 Speaker 1: who makes ten times more than me is rich. Right, 192 00:10:08,040 --> 00:10:12,320 Speaker 1: So people don't really self identify as wealthy. So you 193 00:10:12,360 --> 00:10:14,839 Speaker 1: do need some kind of self awareness to know where 194 00:10:14,840 --> 00:10:16,680 Speaker 1: you are, you know. And I think it's fair to 195 00:10:16,720 --> 00:10:20,160 Speaker 1: say that I've been reasonably lucky because I've never missed. 196 00:10:20,440 --> 00:10:22,240 Speaker 1: I think it's the fair way to put it. So 197 00:10:22,360 --> 00:10:25,360 Speaker 1: where did you go to college? I went all in France. 198 00:10:25,800 --> 00:10:30,120 Speaker 1: Uh so, francis all public university. It's completely free. So 199 00:10:30,559 --> 00:10:32,440 Speaker 1: I went to the local high school and then I 200 00:10:32,480 --> 00:10:35,160 Speaker 1: did move to Paris to do undergrad in the school 201 00:10:35,160 --> 00:10:38,920 Speaker 1: called HDC, which is sort of a management in France. 202 00:10:38,920 --> 00:10:41,439 Speaker 1: It works a bit differently than the US, but it's 203 00:10:41,440 --> 00:10:43,640 Speaker 1: basically you have to study for a couple of years 204 00:10:43,720 --> 00:10:48,680 Speaker 1: and it's essentially a management school. And undergrad Like basically 205 00:10:48,760 --> 00:10:52,079 Speaker 1: business school for US is not a graduate program, is 206 00:10:52,120 --> 00:10:55,640 Speaker 1: actually an undergraduate program. One of the benefits I had, 207 00:10:55,679 --> 00:10:57,760 Speaker 1: which I don't think many people in the US have, 208 00:10:57,960 --> 00:11:03,319 Speaker 1: is excellent free education all along. So you didn't have 209 00:11:03,360 --> 00:11:05,600 Speaker 1: an extra step. You were you call with everyone else 210 00:11:05,640 --> 00:11:08,079 Speaker 1: in the public education. So then how did you use 211 00:11:08,120 --> 00:11:10,160 Speaker 1: it to get to the next step? What was your 212 00:11:10,200 --> 00:11:13,839 Speaker 1: first sort of entree into real grown up business, making 213 00:11:14,000 --> 00:11:17,240 Speaker 1: real money, making any money? Yeah, so, you know, the 214 00:11:17,280 --> 00:11:20,040 Speaker 1: first many years I was not an entrepreneur. For actually 215 00:11:20,480 --> 00:11:23,160 Speaker 1: worked for many years in the finance industry, right, so 216 00:11:23,240 --> 00:11:27,239 Speaker 1: when I graduated, I went into you know, banking and investing, 217 00:11:27,640 --> 00:11:29,680 Speaker 1: because that was very much like if you were back 218 00:11:29,679 --> 00:11:32,400 Speaker 1: into like the mid two thousand you know, that was 219 00:11:32,480 --> 00:11:36,160 Speaker 1: like if you didn't really know what you wanted to do, right, 220 00:11:36,320 --> 00:11:38,320 Speaker 1: And that's kind of like what you were doing, and 221 00:11:38,360 --> 00:11:40,920 Speaker 1: you may be maybe we were not bold enough already 222 00:11:41,040 --> 00:11:43,839 Speaker 1: enough to start a business. You're like, that's it's kind 223 00:11:43,840 --> 00:11:46,120 Speaker 1: of like right now people would go to like Uber 224 00:11:46,400 --> 00:11:49,760 Speaker 1: or you know, Google, right exactly, right, like big tech 225 00:11:50,160 --> 00:11:52,440 Speaker 1: like back in the days two thousand five two thousand 226 00:11:52,520 --> 00:11:56,240 Speaker 1: six is with the end of the old days of finance, 227 00:11:56,240 --> 00:11:59,320 Speaker 1: if you will. So that's how I got academimically trained 228 00:11:59,400 --> 00:12:02,679 Speaker 1: and pretty much realized I don't want to be uh 229 00:12:02,840 --> 00:12:05,160 Speaker 1: some kind of you know slave for the next like 230 00:12:05,280 --> 00:12:08,680 Speaker 1: fifty years. Right. So that's where I exited and I 231 00:12:08,720 --> 00:12:11,520 Speaker 1: came to the US UM and in the US, you know, 232 00:12:11,559 --> 00:12:14,000 Speaker 1: I was like, I did go to business school here, right, 233 00:12:14,000 --> 00:12:16,280 Speaker 1: So my it's actually pretty hard to get into the 234 00:12:16,400 --> 00:12:19,560 Speaker 1: US market if you're not local, and so that's also 235 00:12:19,640 --> 00:12:23,920 Speaker 1: good advice I think for foreigners. Just studies, you know, college, 236 00:12:24,080 --> 00:12:27,600 Speaker 1: undergrad graduate school, you actually get an entry door to 237 00:12:27,640 --> 00:12:31,319 Speaker 1: the US market. You get essentially visas that goes with that. 238 00:12:31,640 --> 00:12:35,679 Speaker 1: And so that was my my inn into the US market. Okay, 239 00:12:35,760 --> 00:12:39,200 Speaker 1: so you were in working in finance. How did you 240 00:12:39,280 --> 00:12:42,920 Speaker 1: make an entrepreneurial leap. I think the transition for me 241 00:12:43,000 --> 00:12:46,440 Speaker 1: went through business school. I went to Harvard HBS UH 242 00:12:46,640 --> 00:12:50,480 Speaker 1: for a couple of years, right. So again I think 243 00:12:50,520 --> 00:12:54,040 Speaker 1: from that perspective, those few years, essentially, those few years 244 00:12:54,080 --> 00:12:56,560 Speaker 1: that I spent in finance, you know, I kind of 245 00:12:56,640 --> 00:13:00,240 Speaker 1: used all of that to finance my m b a uh, 246 00:13:00,240 --> 00:13:11,840 Speaker 1: and I think I got some really great returns on that. Okay, 247 00:13:11,840 --> 00:13:14,439 Speaker 1: So you went to Harvard Business School, which is obviously 248 00:13:15,360 --> 00:13:19,000 Speaker 1: street cred and made that would you say Harvard Business 249 00:13:19,000 --> 00:13:23,360 Speaker 1: School or any decent business school would be a worthwhile expense. 250 00:13:23,640 --> 00:13:26,040 Speaker 1: There's a huge debate right about it. There's a lot 251 00:13:26,120 --> 00:13:28,679 Speaker 1: of the people, you know, you hear a lot of entrepreneurs, 252 00:13:28,800 --> 00:13:31,280 Speaker 1: I think, even maybe Zuckerberg or others that there's this 253 00:13:31,400 --> 00:13:35,400 Speaker 1: there's this idea of college dropouts, right, and there's and 254 00:13:35,440 --> 00:13:38,079 Speaker 1: then the problem with that, and it gets in people's 255 00:13:38,080 --> 00:13:40,120 Speaker 1: heads that you know, is that more valuable that going 256 00:13:40,160 --> 00:13:42,880 Speaker 1: to college? And frankly, also when you consider the cost 257 00:13:42,920 --> 00:13:48,160 Speaker 1: of college for me one, it was beneficial. If I 258 00:13:48,200 --> 00:13:50,440 Speaker 1: had to do it again, I would do everything the 259 00:13:50,480 --> 00:13:55,400 Speaker 1: same now was every every single place. There's no state 260 00:13:55,440 --> 00:13:58,160 Speaker 1: of this world where I would be sitting on that 261 00:13:58,200 --> 00:14:02,280 Speaker 1: podcast at can't see another different road, you see, because 262 00:14:02,320 --> 00:14:06,120 Speaker 1: everything that I did somehow initiates from what I did 263 00:14:06,120 --> 00:14:09,920 Speaker 1: in those two years. Think about it. My first internship. 264 00:14:10,040 --> 00:14:13,600 Speaker 1: I met the founders of Render Runaway, jenn Hymen Jennie 265 00:14:13,600 --> 00:14:18,080 Speaker 1: Flace in twelve because they're also from the Harvard community. Like, 266 00:14:18,840 --> 00:14:21,240 Speaker 1: she would never take my call or my meeting right 267 00:14:21,320 --> 00:14:23,600 Speaker 1: or I couldn't just meet her right. So the fact 268 00:14:23,600 --> 00:14:25,320 Speaker 1: that I saw her and then I went to work 269 00:14:25,360 --> 00:14:28,440 Speaker 1: with her and she became a mentor. You know all 270 00:14:28,480 --> 00:14:31,120 Speaker 1: that's how I got into the fashion you know, text 271 00:14:31,160 --> 00:14:33,840 Speaker 1: space if you will. Okay, So the takeaway for people 272 00:14:33,880 --> 00:14:37,480 Speaker 1: thinking about business school, if you're an entrepreneur, it's it's 273 00:14:37,840 --> 00:14:40,440 Speaker 1: it's a coin toss based on if you're getting into 274 00:14:40,480 --> 00:14:43,040 Speaker 1: Harvard Business School, which is a tiny, tiny percentage of 275 00:14:43,080 --> 00:14:46,760 Speaker 1: people that may not even be honest listening that. Obviously, 276 00:14:46,800 --> 00:14:48,440 Speaker 1: that would be a lot of street credit and is 277 00:14:48,480 --> 00:14:50,000 Speaker 1: big of a deal as me being on the cover 278 00:14:50,080 --> 00:14:51,920 Speaker 1: of four being able to know that, say that that 279 00:14:52,000 --> 00:14:54,440 Speaker 1: did happen. That's a big deal, and it is some 280 00:14:54,520 --> 00:14:56,960 Speaker 1: street cred. Sometimes you make decisions because the street cred, 281 00:14:57,360 --> 00:14:59,840 Speaker 1: not just because of actual money, but then just to 282 00:15:00,000 --> 00:15:02,040 Speaker 1: able to say that you went to business school for 283 00:15:02,120 --> 00:15:04,800 Speaker 1: me has tremendous value. I have a CEO, she's a 284 00:15:04,800 --> 00:15:07,040 Speaker 1: warton n b A. I like saying it, I like 285 00:15:07,200 --> 00:15:10,600 Speaker 1: knowing it. It gives her value in street cred. But 286 00:15:10,680 --> 00:15:14,360 Speaker 1: if she went to Southampton Business School, I would still 287 00:15:14,400 --> 00:15:17,280 Speaker 1: think that that was interesting because it meant that this 288 00:15:17,320 --> 00:15:20,920 Speaker 1: person had the drive to go take business courses on 289 00:15:21,000 --> 00:15:23,680 Speaker 1: a higher level. Okay, So you get out of Harvard 290 00:15:23,680 --> 00:15:27,480 Speaker 1: Business School, you um, then you you know you want 291 00:15:27,520 --> 00:15:29,720 Speaker 1: to somehow be in fashion because you were interning for 292 00:15:29,760 --> 00:15:33,280 Speaker 1: the people from rental Runway. So what what happens next? Yeah, 293 00:15:33,280 --> 00:15:35,600 Speaker 1: And I think then what happened is at that time, 294 00:15:36,040 --> 00:15:39,800 Speaker 1: more specifically, I got very passionate about the really the 295 00:15:39,960 --> 00:15:42,520 Speaker 1: real side of fashion, right, so I was I was 296 00:15:42,560 --> 00:15:46,560 Speaker 1: more focused sales side, Yeah, exactly, like rental resale what 297 00:15:46,640 --> 00:15:49,560 Speaker 1: they call, you know, collaborative consumption. Right, it's it's the 298 00:15:49,640 --> 00:15:52,720 Speaker 1: idea that there's just too much product out there, and 299 00:15:52,720 --> 00:15:54,640 Speaker 1: then you know, we all want to be beautiful, we 300 00:15:54,720 --> 00:15:57,480 Speaker 1: want to be stylish, but at the end of the day, 301 00:15:57,760 --> 00:16:01,000 Speaker 1: there's just too much product, and that product is becoming 302 00:16:01,040 --> 00:16:05,040 Speaker 1: more and more expensive, has less and less usable value 303 00:16:05,280 --> 00:16:08,480 Speaker 1: or usable time, and then gets like trash somewhere. And 304 00:16:08,520 --> 00:16:11,240 Speaker 1: so that's kind of what and there's many people trying 305 00:16:11,240 --> 00:16:14,520 Speaker 1: to address that problem and our ideas. When I saw 306 00:16:14,520 --> 00:16:17,800 Speaker 1: an opportunity on the luxury side of things, very specifically, 307 00:16:17,880 --> 00:16:21,080 Speaker 1: because you have to think back in the days, it 308 00:16:21,200 --> 00:16:23,560 Speaker 1: used to be not very he used to be the 309 00:16:23,600 --> 00:16:26,200 Speaker 1: best kept secret, right if you're doing a luxury or 310 00:16:26,240 --> 00:16:29,080 Speaker 1: resale or if you had bought your Chanel bag in 311 00:16:29,080 --> 00:16:32,040 Speaker 1: a consignment store. Something like this is not something you 312 00:16:32,080 --> 00:16:34,720 Speaker 1: would tell, you know, your friends, This is not something 313 00:16:34,760 --> 00:16:37,600 Speaker 1: you would drag about. It's almost like you would pretend 314 00:16:37,680 --> 00:16:39,640 Speaker 1: you had bought it in the store, right and you 315 00:16:39,680 --> 00:16:41,920 Speaker 1: are you know what I mean. There was a stigma, 316 00:16:42,360 --> 00:16:44,600 Speaker 1: you know, seven eight years ago, and to some extent 317 00:16:44,640 --> 00:16:48,080 Speaker 1: there still is. You know, people seven years ago didn't 318 00:16:48,120 --> 00:16:51,240 Speaker 1: go out and say, yeah, I do resell and this 319 00:16:51,360 --> 00:16:54,520 Speaker 1: is a used product, you know, and they wouldn't be, 320 00:16:54,520 --> 00:16:56,040 Speaker 1: you know, proud of it. And so that's kind of 321 00:16:56,040 --> 00:16:58,520 Speaker 1: what we went to to start is how can you 322 00:16:58,560 --> 00:17:02,480 Speaker 1: create a resale experience that that's a beautiful experience for 323 00:17:02,600 --> 00:17:06,119 Speaker 1: the user, that kept a good, good, good use of 324 00:17:06,160 --> 00:17:10,080 Speaker 1: the product, and that people are are proud of well. Also, 325 00:17:10,840 --> 00:17:15,440 Speaker 1: these products are investments in many cases. I mean, there 326 00:17:15,480 --> 00:17:17,840 Speaker 1: was an article recently in the last couple of years 327 00:17:17,840 --> 00:17:21,520 Speaker 1: saying that UM air Mes Broking bags were better investments 328 00:17:21,520 --> 00:17:23,880 Speaker 1: than art over that period of time. There's an article 329 00:17:23,920 --> 00:17:26,280 Speaker 1: that this act period of years and that that air 330 00:17:26,359 --> 00:17:29,919 Speaker 1: Mes bags we're a better investment than are So what 331 00:17:30,040 --> 00:17:33,960 Speaker 1: about respect from the actual brand, your relationship with Chanel, 332 00:17:34,240 --> 00:17:37,720 Speaker 1: air mez Bataga, What do they think of you? Do 333 00:17:38,040 --> 00:17:40,760 Speaker 1: you upset them? Is there a battle? What? What is 334 00:17:40,800 --> 00:17:43,920 Speaker 1: that conversation? I mean, for sure, for sure, brents full 335 00:17:43,920 --> 00:17:47,120 Speaker 1: on the spectrum, to be honest, right, they fell from 336 00:17:47,160 --> 00:17:51,600 Speaker 1: from the most skeptical to the most open minded, right 337 00:17:51,680 --> 00:17:55,480 Speaker 1: and so, and typically the higher luxury you go, the 338 00:17:55,560 --> 00:17:59,280 Speaker 1: higher the skepticism goes. Okay, And I think the way 339 00:17:59,359 --> 00:18:00,919 Speaker 1: you have to think of about these brands. Some of 340 00:18:00,920 --> 00:18:04,080 Speaker 1: these luxury brands, they've been around for decades, sometimes centuries, 341 00:18:04,440 --> 00:18:08,679 Speaker 1: and so they're scared about anything new, anything different, anything 342 00:18:08,800 --> 00:18:11,560 Speaker 1: that can disrupt that their business. Frankly, a lot of 343 00:18:11,600 --> 00:18:15,199 Speaker 1: these brands don't even have your good online platforms, right, Like, 344 00:18:15,280 --> 00:18:18,400 Speaker 1: some of these luxury brands are still skeptical about digital 345 00:18:18,600 --> 00:18:21,800 Speaker 1: or about online. Right, so when you bring up about resale, 346 00:18:22,000 --> 00:18:25,600 Speaker 1: that's either another leap of faith and so what mostly 347 00:18:25,640 --> 00:18:28,199 Speaker 1: what they're worried about is how do I deal with that? Right? 348 00:18:28,240 --> 00:18:31,080 Speaker 1: I'm selling new products. I have someone who's buying a 349 00:18:31,200 --> 00:18:33,480 Speaker 1: use product. Is that good for me? Is that bad 350 00:18:33,520 --> 00:18:35,800 Speaker 1: for me? You know? Are you taking my customers? I 351 00:18:35,800 --> 00:18:37,920 Speaker 1: think that's the well, I think it's how you're taking 352 00:18:37,920 --> 00:18:40,440 Speaker 1: my customers. They should also be upset with their own 353 00:18:40,520 --> 00:18:44,359 Speaker 1: customers that are buying from them, keeping it in the box, 354 00:18:44,359 --> 00:18:47,800 Speaker 1: selling a new inbox from places like you and Fashion File, 355 00:18:47,880 --> 00:18:51,360 Speaker 1: Investi Air and mode Sense and evec like, that's one 356 00:18:51,400 --> 00:18:53,480 Speaker 1: of the problems people doing that. So I don't know 357 00:18:53,520 --> 00:18:55,800 Speaker 1: how they that that. That's really hard. Like Protect the 358 00:18:55,880 --> 00:18:59,480 Speaker 1: Leap knows who their watches are registered to. They have 359 00:18:59,560 --> 00:19:02,879 Speaker 1: actual cards where the watch is registered to them. And 360 00:19:02,880 --> 00:19:05,920 Speaker 1: if you buy a pre owned watch that's Protect Relief, 361 00:19:05,960 --> 00:19:07,960 Speaker 1: you don't get the card registered to And I'm a 362 00:19:07,960 --> 00:19:10,520 Speaker 1: watch collector, so you don't get the card registered to 363 00:19:10,560 --> 00:19:12,920 Speaker 1: your own name. So for RMS bags, which can be 364 00:19:12,960 --> 00:19:17,000 Speaker 1: from five thousand, they can be cheaper, but to a 365 00:19:17,080 --> 00:19:20,760 Speaker 1: hundred thousand dollars, maybe they should think about registering bags 366 00:19:20,840 --> 00:19:23,239 Speaker 1: to people's names to really control that process. I've never 367 00:19:23,280 --> 00:19:24,919 Speaker 1: thought of that before, but they should think about doing 368 00:19:24,960 --> 00:19:29,040 Speaker 1: what Protect Belief does. Okay, So it's the It runs 369 00:19:29,040 --> 00:19:31,800 Speaker 1: the gamut on on how the big brands would think 370 00:19:31,840 --> 00:19:35,640 Speaker 1: about you reselling their items and your model We're gonna 371 00:19:35,680 --> 00:19:40,399 Speaker 1: get into specifically, because your model, someone can take the 372 00:19:40,480 --> 00:19:43,000 Speaker 1: cash from you for the bag that they're trading in. 373 00:19:43,480 --> 00:19:45,400 Speaker 1: Someone can either just take the cash that you offer 374 00:19:45,440 --> 00:19:49,880 Speaker 1: which is less than an amount that you'll give them 375 00:19:49,920 --> 00:19:53,040 Speaker 1: if they just fully trade in to buy something. So 376 00:19:53,119 --> 00:19:55,439 Speaker 1: say they want to buy another bag, they get a 377 00:19:55,760 --> 00:19:57,960 Speaker 1: greater incentive. You'll give them more money if they're keeping 378 00:19:57,960 --> 00:19:59,520 Speaker 1: the money with you. I think that's a great model. 379 00:19:59,560 --> 00:20:01,640 Speaker 1: It is a incentive for them to just clear out 380 00:20:02,000 --> 00:20:04,920 Speaker 1: ten Gucci bags Allubutan bags in the closet that they're 381 00:20:04,960 --> 00:20:07,359 Speaker 1: not wearing and get run great thing that might be 382 00:20:07,400 --> 00:20:10,159 Speaker 1: more expensive and you. So I think that's very smart 383 00:20:10,320 --> 00:20:13,280 Speaker 1: of you. So that to me seems to be how 384 00:20:13,320 --> 00:20:16,760 Speaker 1: you differentiate from a real wheel or one of these 385 00:20:16,800 --> 00:20:19,720 Speaker 1: other places. They're just selling them straight up and there's 386 00:20:19,720 --> 00:20:24,160 Speaker 1: no like Wheel or deal. You have another angle. Yeah, absolutely. 387 00:20:24,240 --> 00:20:26,280 Speaker 1: I think the main differences as a couple is one 388 00:20:26,359 --> 00:20:29,720 Speaker 1: we're we're very focused on a few segments that tend 389 00:20:29,760 --> 00:20:31,960 Speaker 1: to be higher and so as you said, bags and 390 00:20:32,040 --> 00:20:35,639 Speaker 1: now accessory, jewelry, time pieces, so typically there's no apparel 391 00:20:35,800 --> 00:20:37,960 Speaker 1: or others at this point. And the second thing is 392 00:20:37,960 --> 00:20:40,919 Speaker 1: you're great, we're very cellar minded and we think we 393 00:20:40,960 --> 00:20:44,200 Speaker 1: think consignments, which is the fact of essentially selling a 394 00:20:44,280 --> 00:20:47,320 Speaker 1: product and then you have to wait for it and 395 00:20:47,359 --> 00:20:50,600 Speaker 1: then there's disappointment. It takes more time than you think. 396 00:20:51,000 --> 00:20:53,399 Speaker 1: There's always like some stories where they discount, and we 397 00:20:53,440 --> 00:20:56,200 Speaker 1: think it's very unfruitful. So we're in a very simple 398 00:20:56,280 --> 00:20:59,320 Speaker 1: model where we buy up front and we do insanivides 399 00:20:59,359 --> 00:21:05,840 Speaker 1: you uh, credit incentive to actually trade, which means and 400 00:21:05,840 --> 00:21:08,520 Speaker 1: we've actually created a feature now which is super cool 401 00:21:08,960 --> 00:21:11,760 Speaker 1: where when you buy something, you can sell something at 402 00:21:11,800 --> 00:21:15,000 Speaker 1: the same time and you're essentially only paying the difference, 403 00:21:15,600 --> 00:21:18,160 Speaker 1: you know, and that's very powerful because essentially the more 404 00:21:18,200 --> 00:21:22,560 Speaker 1: product you put, the less your bill becomes. Right, and 405 00:21:22,600 --> 00:21:26,320 Speaker 1: you have serious authenticators like there, So where do they 406 00:21:26,359 --> 00:21:28,680 Speaker 1: come from? These people that are authenticating? Who are they? 407 00:21:28,680 --> 00:21:31,600 Speaker 1: How are they experts? Yeah? You know, the is very 408 00:21:31,640 --> 00:21:35,159 Speaker 1: The best comparable I have is you know, art authenticators, right, 409 00:21:35,240 --> 00:21:38,840 Speaker 1: Like one of the challenges is there's not really right 410 00:21:38,840 --> 00:21:42,840 Speaker 1: now historically there's no school of training of authentication. It's 411 00:21:42,880 --> 00:21:46,520 Speaker 1: just it's not yet a career, it's not yet a degree, right. 412 00:21:46,560 --> 00:21:48,960 Speaker 1: I think it will become that where you be taught 413 00:21:48,960 --> 00:21:51,240 Speaker 1: in schools. Yeah, because this is like art. It should 414 00:21:51,280 --> 00:21:54,000 Speaker 1: be like being a summlia it Actually that's another great 415 00:21:54,040 --> 00:21:57,040 Speaker 1: ideas exactly and it's a huge four. If anyone is 416 00:21:57,080 --> 00:22:00,840 Speaker 1: listening and you want a career that has infinite possibilities, 417 00:22:01,320 --> 00:22:05,840 Speaker 1: go for it. Authenticators, that's a great idea. I think 418 00:22:05,840 --> 00:22:08,760 Speaker 1: that's a great piece of advice. Authenticating it's a great 419 00:22:09,000 --> 00:22:12,000 Speaker 1: skill set for sure. If you love fashion, if you 420 00:22:12,080 --> 00:22:16,320 Speaker 1: love products, that's a great, great career. We have our 421 00:22:16,320 --> 00:22:19,560 Speaker 1: own I guess internal development program your spot up where 422 00:22:19,600 --> 00:22:21,879 Speaker 1: we are able to take We have a few people, 423 00:22:21,920 --> 00:22:23,800 Speaker 1: for instance, out of the f I T of our 424 00:22:24,040 --> 00:22:27,720 Speaker 1: l I m uh and that they're not trained authenticators, 425 00:22:27,760 --> 00:22:30,720 Speaker 1: they're just graduating. But we do have a program where 426 00:22:30,760 --> 00:22:34,280 Speaker 1: we are able to train people who have knowledge, you know, 427 00:22:34,320 --> 00:22:37,200 Speaker 1: who love products. We're able to upgrade them over time 428 00:22:37,240 --> 00:22:40,960 Speaker 1: to authentications. But it is a journey. So how many 429 00:22:41,000 --> 00:22:44,399 Speaker 1: employees do you have? About hundred twenty people at this point? 430 00:22:44,960 --> 00:22:47,160 Speaker 1: So are you allowed to say what numbers you guys 431 00:22:47,200 --> 00:22:49,840 Speaker 1: are doing a year? Yeah? For sure, we're just over 432 00:22:50,000 --> 00:22:54,400 Speaker 1: a hundred twenty five million this year in revenues. And 433 00:22:54,440 --> 00:22:57,520 Speaker 1: how long has it been on Yeah, it's been six years, 434 00:22:57,760 --> 00:23:00,480 Speaker 1: um and you know we keep growing, you know, sixties 435 00:23:00,520 --> 00:23:03,840 Speaker 1: seventy percent year on year or so. This is this 436 00:23:03,920 --> 00:23:06,160 Speaker 1: is really high traction at this point. So what did 437 00:23:06,160 --> 00:23:08,280 Speaker 1: you do the first year. This year you're doing add million. 438 00:23:08,320 --> 00:23:10,119 Speaker 1: What did you do the first year? First year? Maybe 439 00:23:10,160 --> 00:23:13,040 Speaker 1: we did like three million, you know. Okay, so you're 440 00:23:13,040 --> 00:23:15,280 Speaker 1: doing a hundred twenty million and you see that continuing 441 00:23:15,320 --> 00:23:18,400 Speaker 1: to grow. Yeah. Absolutely, we think this is just the beginning. 442 00:23:18,800 --> 00:23:21,399 Speaker 1: The reality is if you think about a hundred millions, 443 00:23:21,440 --> 00:23:25,159 Speaker 1: think about the luxury brands, they are multitends of billion, 444 00:23:25,240 --> 00:23:28,320 Speaker 1: hundreds of billion, trillions of billion out there. So we 445 00:23:28,400 --> 00:23:42,760 Speaker 1: think it's just the beginning. So when you go online 446 00:23:42,760 --> 00:23:46,640 Speaker 1: and you look up Chanel, bag, black, pebble, weather, things 447 00:23:46,640 --> 00:23:48,040 Speaker 1: will come up on the top and re bag is 448 00:23:48,040 --> 00:23:50,919 Speaker 1: always there. Are you Are you spending a lot of 449 00:23:50,960 --> 00:23:53,280 Speaker 1: money to be at the top. Yeah, it's a couple 450 00:23:53,320 --> 00:23:55,600 Speaker 1: of things. Right, It's for sure, you can pay, you 451 00:23:55,600 --> 00:23:57,800 Speaker 1: know use Basically there's two things that go in the 452 00:23:57,840 --> 00:24:00,280 Speaker 1: algorithm is how much are you willing to pay Google? 453 00:24:00,800 --> 00:24:04,880 Speaker 1: But it's also how good or interesting or relevant you're listing? 454 00:24:05,000 --> 00:24:07,520 Speaker 1: Is for the user? And so what I'm trying to 455 00:24:07,560 --> 00:24:09,479 Speaker 1: say is, and I made that mistake when I started 456 00:24:09,480 --> 00:24:11,960 Speaker 1: a business many years ago, right, and maybe it's useful 457 00:24:12,000 --> 00:24:14,400 Speaker 1: for people listening. You have this idea in your head 458 00:24:14,440 --> 00:24:17,040 Speaker 1: that you can start a business and you know, I'm 459 00:24:17,080 --> 00:24:19,840 Speaker 1: selling toothbrush, right, and I'm just gonna go and pay 460 00:24:19,880 --> 00:24:22,960 Speaker 1: Google a lot of money and be number one for toothbrush. 461 00:24:23,160 --> 00:24:26,040 Speaker 1: That's not really how it works, right, because if you're 462 00:24:26,040 --> 00:24:29,639 Speaker 1: listing is bad or not relevant, the reality you would 463 00:24:29,640 --> 00:24:31,679 Speaker 1: you would have to pay so much money to for 464 00:24:31,760 --> 00:24:34,520 Speaker 1: Google to be there that it's not really gonna be 465 00:24:34,800 --> 00:24:39,000 Speaker 1: efficient for you. So how does someone do a relevant listing? Yeah, 466 00:24:39,040 --> 00:24:42,600 Speaker 1: so it's a function of essentially the keywords that you use, 467 00:24:42,720 --> 00:24:46,800 Speaker 1: Like if I'm searching for blue toothbrush, you know, with 468 00:24:47,600 --> 00:24:50,359 Speaker 1: you know, a battery, you know, and you have something 469 00:24:50,400 --> 00:24:53,480 Speaker 1: that's exactly that that's going to be more powerful than 470 00:24:53,560 --> 00:24:58,639 Speaker 1: just my blue toothbrush. So being basically hyper precise on 471 00:24:58,760 --> 00:25:02,600 Speaker 1: your product description, on your title, on your page, about 472 00:25:02,640 --> 00:25:06,680 Speaker 1: hitting all the specificities what is it? This is called 473 00:25:06,720 --> 00:25:09,960 Speaker 1: long tail strategy, right, So you don't just buy the 474 00:25:10,000 --> 00:25:14,480 Speaker 1: world toothbrush. You know, you're gonna go for long tooth 475 00:25:14,520 --> 00:25:18,960 Speaker 1: brush more than seven inches. You know, you're being creative 476 00:25:19,000 --> 00:25:21,080 Speaker 1: about this. So you're saying to people listening that they 477 00:25:21,080 --> 00:25:22,879 Speaker 1: don't have to spend money, they can be creative by 478 00:25:22,880 --> 00:25:25,600 Speaker 1: the way they get themselves up there. That's that's great, 479 00:25:25,680 --> 00:25:28,879 Speaker 1: that's great takeaway. That's great, and that long tail traffic 480 00:25:29,000 --> 00:25:31,959 Speaker 1: is very cheap. So when you start, you can you 481 00:25:32,000 --> 00:25:34,320 Speaker 1: can do the work and you can write a hundred 482 00:25:34,400 --> 00:25:36,880 Speaker 1: of these queries and that's how you get the cheap 483 00:25:36,920 --> 00:25:40,440 Speaker 1: traffic that you can benefit from for a cheap lunch. Um, 484 00:25:40,560 --> 00:25:43,199 Speaker 1: So are you looking to sell this company? Like what 485 00:25:43,440 --> 00:25:45,159 Speaker 1: is the big end game? Are you look at? What 486 00:25:45,200 --> 00:25:47,239 Speaker 1: do you what's what's the next step? How do you 487 00:25:47,240 --> 00:25:49,600 Speaker 1: really take it into the end zone? Yeah? You know, again, 488 00:25:49,760 --> 00:25:52,679 Speaker 1: at this moment, we think this market is still in 489 00:25:52,720 --> 00:25:55,040 Speaker 1: the early innings, right, and I know there's been a 490 00:25:55,080 --> 00:25:57,840 Speaker 1: lot of growth in the last few years, but where 491 00:25:58,080 --> 00:26:00,520 Speaker 1: if you think about a ten or twenty year cycle, 492 00:26:00,840 --> 00:26:02,960 Speaker 1: like if I had to rank from one to a hundred, 493 00:26:03,080 --> 00:26:05,879 Speaker 1: like hundred is the max development of this market? I 494 00:26:05,880 --> 00:26:09,520 Speaker 1: think right now we're like ten, fifteen, maybe twenty, right, 495 00:26:09,560 --> 00:26:12,080 Speaker 1: So I think it's so so big that the next 496 00:26:12,119 --> 00:26:15,640 Speaker 1: few years. Frankly, we're just focusing on getting the product 497 00:26:15,680 --> 00:26:17,520 Speaker 1: and the word out there, because as you said, I 498 00:26:17,560 --> 00:26:20,360 Speaker 1: love what I do. It's a reasonably big business now. 499 00:26:20,600 --> 00:26:23,800 Speaker 1: But the reality is, what's the awareness of rebak right now? 500 00:26:23,960 --> 00:26:26,800 Speaker 1: Five percent? You know, ten percent? Right? So it's not 501 00:26:26,880 --> 00:26:29,440 Speaker 1: like every luxury owner knows us. So I think our 502 00:26:29,480 --> 00:26:32,480 Speaker 1: mission now is too we have something that works. Yeah, 503 00:26:32,560 --> 00:26:35,679 Speaker 1: it's like, how do we make this from essentially a 504 00:26:35,800 --> 00:26:39,000 Speaker 1: small interesting youth case to a few people to something 505 00:26:39,400 --> 00:26:42,520 Speaker 1: way more mainstream? Right, and until we get there, that's 506 00:26:42,520 --> 00:26:45,240 Speaker 1: gonna be our our priority as a stand alone company. 507 00:26:45,440 --> 00:26:47,879 Speaker 1: I guess. Finally, what's been the rose and the thorn 508 00:26:48,000 --> 00:26:52,000 Speaker 1: of your career so far? Yeah? I think the you know, 509 00:26:52,520 --> 00:26:56,920 Speaker 1: the rose I think is every time we hire someone amazing. 510 00:26:57,440 --> 00:26:59,800 Speaker 1: You know, there's like maybe three or four times. You know, 511 00:27:00,320 --> 00:27:02,800 Speaker 1: I was yesterday we had like this goal with my team, 512 00:27:02,880 --> 00:27:06,800 Speaker 1: and I was like, how blessed? Like how how are 513 00:27:06,800 --> 00:27:09,800 Speaker 1: these people working here? You know, these people they're just 514 00:27:09,960 --> 00:27:13,920 Speaker 1: like so good, you know, they're just so much better 515 00:27:13,960 --> 00:27:16,520 Speaker 1: than me at every single And there's been a time 516 00:27:16,520 --> 00:27:19,680 Speaker 1: in this journey where I didn't have that. So seeing 517 00:27:19,840 --> 00:27:23,119 Speaker 1: this group of now seven or eight people that that 518 00:27:23,200 --> 00:27:25,720 Speaker 1: they could be working anywhere. You know, we live in 519 00:27:25,720 --> 00:27:28,800 Speaker 1: a competitive world. Maybe they should be elsewhere, maybe they 520 00:27:28,840 --> 00:27:31,920 Speaker 1: could be paying more money, you know, and yet everyone's here, 521 00:27:32,040 --> 00:27:35,840 Speaker 1: everyone's grinding, and it's so much talent and that you know, 522 00:27:35,880 --> 00:27:38,560 Speaker 1: when I failed out I just think about this and 523 00:27:38,600 --> 00:27:41,359 Speaker 1: I'm like, you know, we have such a great team 524 00:27:41,400 --> 00:27:43,280 Speaker 1: that I know at any point in time we can 525 00:27:43,359 --> 00:27:45,880 Speaker 1: make it through anything, because I want to be part 526 00:27:45,920 --> 00:27:49,040 Speaker 1: of it. And what about the thorn? Yeah, the thorn 527 00:27:49,080 --> 00:27:50,879 Speaker 1: I think is when you're a STARp is everything like 528 00:27:50,920 --> 00:27:53,840 Speaker 1: funding related or like for sure covid was one of them. 529 00:27:53,920 --> 00:27:56,440 Speaker 1: You know, like you know, in startup, you raise money 530 00:27:56,760 --> 00:27:59,080 Speaker 1: and then you you use money, and then you go 531 00:27:59,119 --> 00:28:01,200 Speaker 1: and raise more money. Right, so there's a time where 532 00:28:01,280 --> 00:28:04,879 Speaker 1: your cash balance is like your oxygen goes down, and 533 00:28:04,960 --> 00:28:07,200 Speaker 1: of course you have all sorts of thoughts in your head, 534 00:28:07,359 --> 00:28:10,760 Speaker 1: like if you don't find more money, like that music stops. 535 00:28:11,280 --> 00:28:14,320 Speaker 1: So there's a few times where your cash balance is 536 00:28:14,359 --> 00:28:17,600 Speaker 1: going down and maybe those discussions you know, are taking 537 00:28:17,600 --> 00:28:19,560 Speaker 1: more time or not going and you and you know, 538 00:28:19,600 --> 00:28:22,320 Speaker 1: you start questioning and and you start looking at those 539 00:28:22,320 --> 00:28:25,320 Speaker 1: scenarios where where the music stops, and you know that's 540 00:28:25,359 --> 00:28:27,679 Speaker 1: that's always scary. Got it? Okay? Awesome? I think it 541 00:28:27,720 --> 00:28:30,120 Speaker 1: was actually great advice and great takeaway. So I really 542 00:28:30,160 --> 00:28:32,840 Speaker 1: appreciate So I appreciate you. Thank you so much, Thank 543 00:28:32,880 --> 00:28:41,440 Speaker 1: you for inviting Bethany. It's pleasure so Charles gren is 544 00:28:41,800 --> 00:28:47,680 Speaker 1: the CEO and founder of The Bag. Sometimes I'll interview 545 00:28:47,800 --> 00:28:50,720 Speaker 1: someone that you may not have heard of, and I 546 00:28:50,800 --> 00:28:54,280 Speaker 1: have my reasons for doing it. So whether it's an 547 00:28:54,280 --> 00:28:57,400 Speaker 1: executive that's moved from the bottom up to the top, 548 00:28:57,440 --> 00:28:59,120 Speaker 1: that I want you to hear because I know that 549 00:28:59,120 --> 00:29:00,760 Speaker 1: many of you have said to me that you work 550 00:29:01,200 --> 00:29:03,800 Speaker 1: in an office and you want to thrive and survive. 551 00:29:03,840 --> 00:29:06,680 Speaker 1: I'm trying to get information from that person to help 552 00:29:06,680 --> 00:29:09,040 Speaker 1: you in that situation. Some of you just want to 553 00:29:09,080 --> 00:29:14,480 Speaker 1: start a business, and of aspirational entrepreneurs and you're trying 554 00:29:14,520 --> 00:29:16,040 Speaker 1: to figure out how to get on the road, or 555 00:29:16,080 --> 00:29:17,680 Speaker 1: you're stuck in the middle and you don't know whether 556 00:29:17,680 --> 00:29:19,440 Speaker 1: to keep going or to turn back. I hear a 557 00:29:19,440 --> 00:29:22,320 Speaker 1: lot of that. So Charles is one of those people 558 00:29:22,560 --> 00:29:26,560 Speaker 1: who struggles every day with the battles and with the 559 00:29:26,680 --> 00:29:29,560 Speaker 1: obstacles that entrepreneurs struggle with, and so I thought he'd 560 00:29:29,560 --> 00:29:32,400 Speaker 1: be an amazing guest because he's someone you can inspire 561 00:29:32,480 --> 00:29:35,360 Speaker 1: to be, so you can give a lot of granular 562 00:29:35,440 --> 00:29:38,600 Speaker 1: advice to people who are stuck in the middle or 563 00:29:38,600 --> 00:29:40,600 Speaker 1: trying to get on the road. So that was a 564 00:29:40,600 --> 00:29:44,760 Speaker 1: great conversation. He really impressed me even more than I imagine. 565 00:29:44,880 --> 00:29:46,600 Speaker 1: So just go on the ride with me because I 566 00:29:46,640 --> 00:29:50,360 Speaker 1: think it's always an interesting conversation. And remember to rate, 567 00:29:50,400 --> 00:29:54,120 Speaker 1: review and subscribe to just be UM. You appreciate it. 568 00:29:54,160 --> 00:30:04,480 Speaker 1: I read everything. Thank you. Yeah. Just B is hosted 569 00:30:04,520 --> 00:30:07,880 Speaker 1: an executive produced by me, Bethany Frankel. Just b A 570 00:30:07,920 --> 00:30:11,480 Speaker 1: is a production of Be Real Productions and I Heart Radio. 571 00:30:12,440 --> 00:30:15,080 Speaker 1: Our Managing Producer is Fiona Smith and our producer is 572 00:30:15,120 --> 00:30:19,080 Speaker 1: Stephanie Stender. Our EP is Morgan Levoy. To catch more 573 00:30:19,120 --> 00:30:21,360 Speaker 1: moments from the show, follow us on Instagram at just 574 00:30:21,560 --> 00:30:26,480 Speaker 1: Be with Bethany