Speaker 1: Hi, it's West Kasova. We're taking a break this week,
Speaker 1: so here's an episode you might have missed. Thanks so
Speaker 1: much for listening. We'll be back on Monday with a
Speaker 1: new big take Ollie All Day Yet. Jared Pollium begins
Speaker 1: this Monday morning. Like many mornings, he's weighing out six
Speaker 1: hundred pounds of malt. That's the grain used to make beer.
Speaker 2: These specialty malts add these specific flavor profiles that we're
Speaker 2: looking for in each beer, so they'll always be different depending.
Speaker 1: Jared and and Chow are co owners of Lost Generation,
Speaker 1: a micro brewery in Washington, d C. They're also married,
Speaker 1: and they're showing me around where they make their signature
Speaker 1: ales pilsners and laggers and then seal them into cans.
Speaker 3: When we first opened, we were kind of the neighborhood bar,
Speaker 3: so can sales weren't quite as prominent. But now that
Speaker 3: we're making a name for ourselves as a great brewery,
Speaker 3: then a lot more cancils are starting to go out
Speaker 3: the door.
Speaker 1: And Jared opened the brewery less than a year ago
Speaker 1: in a former Nabisco factory that's one hundred and twenty
Speaker 1: years old, and today they're getting started on a batch
Speaker 1: of one of their original creations, the sour ale made
Speaker 1: with passion fruit the hopper.
Speaker 2: So that it can go through the mill and get crushed.
Speaker 2: We have to open up the husks of the mall
Speaker 2: so that way it can extract the maximum amount.
Speaker 1: Of water from it. Lost generation is part of a
Speaker 1: wave of small businesses that have opened in the US
Speaker 1: in the last few years. You might imagine the pandemic
Speaker 1: would have put a damper on entrepreneurs, but it's actually
Speaker 1: the opposite. In twenty twenty two alone, more than five
Speaker 1: million small businesses were registered. That's up forty two percent
Speaker 1: from pre pandemic levels. Bloomberg's end a current dug into
Speaker 1: why small businesses are having a moment and the challenges
Speaker 1: owners are facing in this uncertain economy.
Speaker 4: Ultimately, at a core of any successful economy is innovation
Speaker 4: and a willing mistake on risk, and lots of people
Speaker 4: I spoke to you said I haven't seen this kind
Speaker 4: of scale of ambition for some time in the US economy.
Speaker 1: We'll hear more from Enda in just a bit, and
Speaker 1: later on we'll talk to a bakery owner who just
Speaker 1: entered a new chapter with her business.
Speaker 5: It is a very scary time, but it's also a
Speaker 5: very exciting time. We've been wanting our own space for
Speaker 5: a very long time, and we were very lucky to
Speaker 5: grow during the pandemic.
Speaker 1: I'm Westkasova today on the big take the pandemic small
Speaker 1: business boom. The tap room in the Last Generation Brewery
Speaker 1: is equal parts nineteen twenties and twenty twenties. You can
Speaker 1: see the original bones of the building everywhere.
Speaker 3: Original cathedral wooden ceilings, original interior exposed brick.
Speaker 1: Really, and then there are the contemporary features, a vibrant
Speaker 1: mural by a local artist, and industrial grade brewing machinery
Speaker 1: that you can see through a Florida ceiling glass wall
Speaker 1: in the back of the tap room. Jared and Anne
Speaker 1: say the Lost Generation theme is a nod to the
Speaker 1: past and to their own business story.
Speaker 2: The Lost Generation is a reference to the art movement
Speaker 2: of the nineteen twenties and thirties. With Hemingway Fitzgerald, they
Speaker 2: found that the art and inspiration from where they were at,
Speaker 2: you know, whether it be New York or the Midwest
Speaker 2: or anything like that, was lacking in their time period
Speaker 2: and it wasn't speaking to them. So they went out
Speaker 2: to places that had thriving artistic inspiration to really find themselves,
Speaker 2: and that's how Anne and I did it as well.
Speaker 1: They'd been planning to open this brewery for more than
Speaker 1: a decade, building on the experience they'd gain in the industry.
Speaker 1: They were set to begin work in early twenty twenty, so, yeah,
Speaker 1: you can probably guess where this is heading.
Speaker 2: We were supposed to sign our lease in March of
Speaker 2: that year, and then the landlord, their representative, took a vacation.
Speaker 2: So they asked if we could push back to April
Speaker 2: first for signing the lease, and we said, yes, you know,
Speaker 2: we can wait two weeks, it's fine. And then the
Speaker 2: pandemic hit and the landlord was like, hey, so we're
Speaker 2: still good for April first, right, And you know, we
Speaker 2: had never seen anything like this before, and it was
Speaker 2: all of it's our entire life savings, and so we
Speaker 2: backed away, you know, cautiously, and then we honestly weren't
Speaker 2: certain that we'd ever revisit this again, since you know,
Speaker 2: there's so many businesses in the hospitality industry. We're just
Speaker 2: struggling so hard during that period of time, and it
Speaker 2: was just a very rough thing to watch.
Speaker 1: A year later, they did revisit it, and they secured
Speaker 1: the location. But banks were much more cautious about lending
Speaker 1: money to restaurants and bars.
Speaker 2: And they weren't giving loans anymore to those types of businesses.
Speaker 2: So we fought bank after bank after bank looking for
Speaker 2: anyone who would extend alone. And we did find a
Speaker 2: wonderful bank that did. However, the down payment had doubled
Speaker 2: from what it was pre pandemic.
Speaker 1: And why did they tell you? Is it just more risk?
Speaker 4: Absolutely?
Speaker 2: Yeah, Like you know, going into the pandemic, we were
Speaker 2: more like a middle aged driver for a car insurance company,
Speaker 2: and coming out we were now a sixteen year old
Speaker 2: with a red car, and so just yeah, they I
Speaker 2: mean you could just see the bankers just hear our
Speaker 2: thing and say, hey, that's a great business plan. You
Speaker 2: have so much experience, but I'm sorry, like I ran
Speaker 2: it up the flagpole, We're just not doing that industry
Speaker 2: right now. And in fairness, I mean, there were still
Speaker 2: so many of the restaurants and bars that were still
Speaker 2: had not yet fully defaulted or anything, and so we
Speaker 2: were coming out of the pandemic, they hadn't even seen
Speaker 2: who was or wasn't going to serve and so like,
Speaker 2: I get it. But it did make it very tough
Speaker 2: for us to actually solidify alone, but obviously we were
Speaker 2: able to. It cost us more. We had to really
Speaker 2: scround our life savings and dig into some pots that
Speaker 2: we promised we would never would, but we made it work.
Speaker 1: Anne and Jared always knew that opening a brewery would
Speaker 1: require hefty upfront costs. First, there's the machinery. The brew
Speaker 1: house behind that glass wall in the back is full
Speaker 1: of enormous tanks for mashing, boiling, and fermenting the grain.
Speaker 1: There's also the canning operation for to go beer, which
Speaker 1: was a condition of their loan in case COVID shut
Speaker 1: down their tap room. Then there are the raw materials
Speaker 1: like grain and hops that come from all over. Some
Speaker 1: of it comes from the Pacific Northwest, like Oregon, but
Speaker 1: also from as far away as Germany and New Zealand.
Speaker 1: But on top of all that, there are the economic
Speaker 1: challenges you can't plan for.
Speaker 3: So we had over budgeted and overestimated to make sure
Speaker 3: that we were covering our costs. And yet because of
Speaker 3: supply chain issues, because of you know, things that were
Speaker 3: happening post pandemic, it was more challenging.
Speaker 2: And then shipping things freight and all of that became
Speaker 2: much much more difficult, and so a twenty thousand dollars
Speaker 2: freight costs suddenly becomes almost forty thousand dollars.
Speaker 1: And so it's like, despite the false starts and high costs,
Speaker 1: Jared and and say, the business in its first year
Speaker 1: is doing better than they expected. Their staff of ten
Speaker 1: even got a pay raise this summer.
Speaker 3: We are very lucky. Honestly, we've exceeded projections. We usually
Speaker 3: most businesses expect to lose money within the first year,
Speaker 3: and we are not in that position.
Speaker 2: Yeah, and we've even had quite a few saturdays where
Speaker 2: she'll send me outside and I have to start being
Speaker 2: a doorman because we want to make sure that we
Speaker 2: don't go over capacity. A place will just be absolutely packed.
Speaker 1: So that's the story of one micro brewery in DC.
Speaker 1: But now let's take a look at the bigger picture
Speaker 1: and why small businesses like Lost Generation are popping up
Speaker 1: in record numbers. And that's where Bloomberg's end a current
Speaker 1: comes back into the picture. The last time, and it
Speaker 1: was here we were talking about President Biden's industrial policy,
Speaker 1: how he was trying to bring big business in manufacturing
Speaker 1: back to the US, and it says it's actually small
Speaker 1: businesses that are the backbone of the economy.
Speaker 4: It's kind of one of the untold stories almost of
Speaker 4: the US economy over the past few years. Everybody built
Speaker 4: up their savings during the pandemic thanks to the physical
Speaker 4: similus and money that they were saving anyway. And you know,
Speaker 4: another factor in all of this is just the ease
Speaker 4: of startups nowadays. You know, there are websites actor offering
Speaker 4: you to set up an e commerce portal in a
Speaker 4: matter of half an hour or two hours. You can
Speaker 4: be up and running in a short time. And by
Speaker 4: the way, instead of paying for the expensive NBA, you
Speaker 4: just go on YouTube and you watch some online program
Speaker 4: or you listen to somebody and you get up and running.
Speaker 4: This is what's happening out there. Then throw in the
Speaker 4: general influence world that we're in now, the Elon Musks
Speaker 4: of the world. Everybody wants to be the next Elon Musk.
Speaker 4: And that's great, that's ambition. That's what drives economies. But
Speaker 4: there is absolutely a point that with the pandemic changing
Speaker 4: work practices the way it has, even with the return
Speaker 4: to offices on their way, But broadly speaking, people realize
Speaker 4: I don't need to commute to have a job, I
Speaker 4: don't need to live in the city center. And you
Speaker 4: know what, a laptop on home, downing on table, I
Speaker 4: can do so much more anyway. So they're taking chances,
Speaker 4: they're taking risks with ideas that they once had rather
Speaker 4: necessarily maybe say the only root for me in life
Speaker 4: is the nine to five kind of a schlep. They're
Speaker 4: having a look at what their options are. So it
Speaker 4: is definitely part of the mix that the mindset has
Speaker 4: shifted a bit, and a lot of it is down
Speaker 4: to the pandemic.
Speaker 1: And it says small businesses are now powering the US
Speaker 1: economy in a way we haven't seen for a long time.
Speaker 4: It is one of the biggest drivers of economic growth
Speaker 4: in the US. Of the country's thirty million small companies,
Speaker 4: they have created more than two thirds of the new
Speaker 4: jobs creating in the US between nineteen ninety five and
Speaker 4: twenty twenty one. These small companies, they really are one
Speaker 4: of the biggest bullwarks of the jobs market in America.
Speaker 1: And what do we know about the kinds of businesses
Speaker 1: they are or what are they making, what are they selling?
Speaker 4: It's across the spectrum of activities. Where I spoke to
Speaker 4: one company, for example, who's in the business of selling
Speaker 4: graduating mementos. That might be a school ring or a
Speaker 4: school hoody for instance. These are the kind of businesses
Speaker 4: that operate at the heart of your local community. It
Speaker 4: could be anything from the bakery up to increasingly online
Speaker 4: or e commerce. That's obviously a whole new opportunity for
Speaker 4: people whereby that's see an opportunity to sell products online
Speaker 4: or sell the service online. That's giving people a new outlet.
Speaker 1: And is it less expensive to start a business than
Speaker 1: it used to be.
Speaker 4: Well, here's where you get into the trade offs. I mean,
Speaker 4: certainly it isn't easy of setting up a business, that's
Speaker 4: for sure. As we just spoke about, You've got all
Speaker 4: this knowledge online and of course the process is much
Speaker 4: smoother than it was. But this is where we go
Speaker 4: back to the cost of doing business nowadays. I mean,
Speaker 4: you are dealing with the higher industrates, you are dealing
Speaker 4: with the labor costs. So it depends on how advance
Speaker 4: of where you are in that stream. If you have
Speaker 4: your own financing and you can kind of lean on
Speaker 4: yourself or your whatever kind of family workers. You have
Speaker 4: to get the thing up and running, you're okay. But
Speaker 4: if you really need staff to walk in the door,
Speaker 4: or if you really need a big loan, obviously that's
Speaker 4: expense for the moment.
Speaker 1: When you look at a company like Amazon, where you
Speaker 1: just know you're going to find some version of what
Speaker 1: you want and it's all easy to order and it's
Speaker 1: going to come quickly. How can a small online commerce
Speaker 1: business even compete with that shipping costs? Even people knowing
Speaker 1: that they exist, There's no doubt.
Speaker 4: I mean, that's the challenge. But there's a local aspect
Speaker 4: to it. So it's a local appeal if you're in
Speaker 4: the local community or you're selling something that's related to
Speaker 4: the local community. Like I mentioned to you earlier about
Speaker 4: the graduation momento, is that kind of thing. That market
Speaker 4: is out there and there's a hunger and an appetite
Speaker 4: for that amongst say communities around the country. But obviously,
Speaker 4: you know, if you're a small company and you want
Speaker 4: to go online against Amazon, well that's probably a David
Speaker 4: versus g All life story.
Speaker 1: When we come back what it takes for these small
Speaker 1: businesses to survive in this rocky economy. So we've heard
Speaker 1: how millions of new businesses are popping up all across
Speaker 1: the United States, but it's not always easy for them
Speaker 1: to survive in this unpredictable economy. I asked, and what
Speaker 1: the numbers tell us about how many of these small
Speaker 1: businesses will actually make it.
Speaker 4: It's tough to track at the moment how many of
Speaker 4: these businesses will actually survive to what you might call
Speaker 4: it being an established business, say the five million established
Speaker 4: last year. It will take a few years to understand
Speaker 4: how many of them thrived, how many of them are
Speaker 4: employing staffed? Way are saying and our bone feed the
Speaker 4: business versus how many were someone's interesting idea on the
Speaker 4: couch with their laptop and they registered with the authorities.
Speaker 4: I'm setting up this new business dot com right. It
Speaker 4: takes a while to figure that out because there is
Speaker 4: a high attrition. Right all this has been For example,
Speaker 4: at the moment, inflation is hurting these small business people.
Speaker 4: If you go to get a loan from your bank,
Speaker 4: it's expensive at the moment, the bank might not even
Speaker 4: want to give it to you. Then there are some
Speaker 4: other issues in the US. For example, demographics is a
Speaker 4: challenge like a longer term structural challenge. There's really practical
Speaker 4: issues too, like childcare. You know, you can set up
Speaker 4: your business on your laptop. That's great, and then you
Speaker 4: want to go and do it and you realize you've
Speaker 4: got this problem with childcare for example, and of course
Speaker 4: the labor shortage that we all know about. So you know,
Speaker 4: as I say to you, there is a headline, and
Speaker 4: it's a very positive headline and it's real, but under
Speaker 4: the bonnet, there are a lot of complications that do
Speaker 4: weigh against some of these businesses properly maturing.
Speaker 1: So it's impossible to talk about employment in the US
Speaker 1: without talking about healthcare because so many of us have
Speaker 1: our health care tied to jobs, and it's one of
Speaker 1: the things that workers want the most and employers have
Speaker 1: a hard time paying for because it's so expensive. How
Speaker 1: many of these small businesses can afford things like benefits,
Speaker 1: healthcare for h one k, these kinds of things that
Speaker 1: people expect.
Speaker 4: It's an expense, But if your business is getting up
Speaker 4: in running and it's successful, well then you know the
Speaker 4: incentive is there. You want to have your staff and
Speaker 4: you want to pay the benefits. There are companies out
Speaker 4: there that specialize in bundling the services you need. So
Speaker 4: you need your payrolls, you need your healthcare, you need,
Speaker 4: you know, whatever it is for your staff. There are
Speaker 4: companies out there that do all of these services for
Speaker 4: small businesses, so you don't need to you know, hire
Speaker 4: your own, say, your own accountant or in house kind
Speaker 4: of staff to handle the benefits side of it. You
Speaker 4: can make your own savings through outsourcing it through different
Speaker 4: companies to specialize in. And that's one way companies can afford
Speaker 4: to manage this this side of it. What happened, of course,
Speaker 4: to have a full time staff member processing benefits and
Speaker 4: payrolls and that kind of thing.
Speaker 1: Let's hear from another small business owner who's dealing with
Speaker 1: the kinds of challenges that Enda is talking about right
Speaker 1: now and has been all through the pandemic. Rose Avenue
Speaker 1: Bakery is also located here in DC. They open their
Speaker 1: doors in March of twenty twenty, right as COVID lockdowns began.
Speaker 6: When you walk in, there's a foyer area.
Speaker 5: On our left side is a rustic wall with some plants.
Speaker 5: My partner really wanted it to be minimalists, a little
Speaker 5: bit of modern, but a little bit homey as well.
Speaker 1: We have said I first met co owner Paula Wong
Speaker 1: late last year when we did an episode about the
Speaker 1: state of the economy. You might remember her talking about
Speaker 1: the high cost of ingredients like eggs and flour and
Speaker 1: more unusual ones like uzu. Since last year, Rose Avenue
Speaker 1: Bakery moved out of their shared space and found a
Speaker 1: new home in a former dunkin Donuts location. I went
Speaker 1: by to check it out. Paula, Great to see you again.
Speaker 6: Nice to see you.
Speaker 1: The first thing you notice when you get to the
Speaker 1: counter are all the different kinds of pastries, sweet and
Speaker 1: savory that are displayed behind the glass.
Speaker 5: And it's a take on a Filipino street food that's
Speaker 5: like a spring worlled wrap plantain with jackfruit. It features
Speaker 5: a roasted plantains with brown sugar and a caramel glaze.
Speaker 1: It's also Paula says business is going well. Lots of
Speaker 1: customers from the old location have now become regulars at
Speaker 1: the new one, and she and her co owner Rose
Speaker 1: Wind have been able to offer more variety on the menu.
Speaker 5: At our previous location, we were only able to serve
Speaker 5: maybe two or three kinds of savory items. Now half
Speaker 5: our weekend menu is savory items because it's very popular
Speaker 5: in DC. Of course, brunch is this like epic thing
Speaker 5: on the weekend, so we do get a brunch rush.
Speaker 5: We've got to expand on our sweet menu as well.
Speaker 5: We still have our iconic donuts like the Passion Food
Speaker 5: pond on block stestimy donut and.
Speaker 1: What are you selling these for and how does it
Speaker 1: compare to say a year.
Speaker 5: Again, some of the items have maintained their price, like
Speaker 5: the cookies, it's still at three twenty five. We increase
Speaker 5: the donut prices by twenty five cents each. The Queen
Speaker 5: of months have stayed also the same price. But our
Speaker 5: savory items like the sandwiches, especially with bacon, we had
Speaker 5: to increase the price by a dollar.
Speaker 6: So just because of how expensive meat can be.
Speaker 1: Paula says they've had to raise some prices in part
Speaker 1: because ingredients are more expensive, but also to meet other
Speaker 1: unexpected costs.
Speaker 5: It's been still challenging, especially because we've moved here and
Speaker 5: there's costs to moving and getting a new bakery up
Speaker 5: and running. Of course, our profit margins are a little
Speaker 5: slim because we're in a new space.
Speaker 6: The cost of utilities we're not.
Speaker 5: Really anticipated in like because we were in a shared
Speaker 5: space before.
Speaker 6: When things break down, it's on us to fix.
Speaker 5: We had a lot of issues with our HVAC during
Speaker 5: this summer, so having somebody to look at that almost
Speaker 5: every week got very costly.
Speaker 1: One major cost of running a business like Rose Avenue
Speaker 1: is paying employees. There are six bakers in the back,
Speaker 1: three managers, and five part time employees in the front
Speaker 1: of the house, plus Paula and her partner Rose.
Speaker 5: The earliest person comes in at three o'clock. They start
Speaker 5: to day. They pull out all the doughnuts from the
Speaker 5: refrigerator that've been proofing overnight, because our Brioche show does
Speaker 5: prove for several days.
Speaker 6: Then the bakers kind of trickle.
Speaker 5: In between three and four and they bake off everything
Speaker 5: fresh every day.
Speaker 6: They fry the doughnuts fresh every day.
Speaker 5: Around seven o'clock is when our front of the house
Speaker 5: starts coming where they wiped on the table.
Speaker 1: I asked Paula how expanding the business has impacted her
Speaker 1: ability to pay these early risers of living wage.
Speaker 5: We're lucky that we've maintained the same ladies that were
Speaker 5: with us at our old location, but you know, because
Speaker 5: of this big place and.
Speaker 6: How busy we are now.
Speaker 5: We really need extra help back there, but unfortunately it's
Speaker 5: been very hard to find help.
Speaker 1: Why are you having trouble finding people? It's a big
Speaker 1: challenge that's getting in your way.
Speaker 6: I think because everything is so costly.
Speaker 5: Everybody wants a little bit more money, which is you know,
Speaker 5: normal for sure, But because we are a small business,
Speaker 5: we can only afford salaries within our price range obviously,
Speaker 5: so there is this competition with where we're going to
Speaker 5: get that money for salaries and.
Speaker 1: What sort of benefits are you able to offer.
Speaker 6: We have paid time off here.
Speaker 5: We also offer health benefits, which is not typical of
Speaker 5: the food industry. My partner and I don't make Liverpool
Speaker 5: wages ourselves, and we're putting in our own personal money to.
Speaker 6: Keep this place afloat.
Speaker 5: So it is a very scary time, but it's also
Speaker 5: a very exciting time. We've been wanting our own space
Speaker 5: for a very long time and we were very lucky
Speaker 5: to grow during the pandemic.
Speaker 1: After the break, can this small business boom last? One
Speaker 1: of the more surprising takeaways from this small business surge
Speaker 1: is who's actually starting these companies, And it told me
Speaker 1: about two groups in particular who've made gains in entrepreneurship,
Speaker 1: women and black business owners. A payroll company called Gusto
Speaker 1: has been tracking these changes in business ownership over the years.
Speaker 1: They found that in twenty twenty one, forty nine percent
Speaker 1: of new business owners were women. That's up from twenty
Speaker 1: nine percent since the start of the pandemic, and black
Speaker 1: new business owners tripled from three percent in twenty nineteen
Speaker 1: to nine percent in twenty twenty one.
Speaker 4: Women are being given a better opportunity to get in
Speaker 4: on this in a way that they haven't been in
Speaker 4: the past. The African American community is also notably featuring
Speaker 4: in setting up these new businesses, and that is being
Speaker 4: welcomed as you know, an example of where diversity is
Speaker 4: making some progress. But you know, they're facing the same
Speaker 4: challenges as everybody else. That's that's the downside of all this.
Speaker 4: So obviously a long way to go there, but at
Speaker 4: least making some progress. And there is the argument that
Speaker 4: that's an opportunity for a group of entrepreneurs by part
Speaker 4: of society that weren't getting in on a small business
Speaker 4: act in the past.
Speaker 1: I asked, and where all this goes from here, whether
Speaker 1: small businesses will keep opening it such a fast pace,
Speaker 1: and whether they'll continue to be such a powerful economic engine.
Speaker 4: You know, there are open questions at the moment given
Speaker 4: what's happened with inflation, So there is an air of
Speaker 4: caution out there, and it's probably is feeling that you know,
Speaker 4: the boom will will flatline at some point. But listening
Speaker 4: to people though, they do say ultimately at the core
Speaker 4: of any successful economy is innovation and a willingness to
Speaker 4: take on risk, and lots of people I spoke to
Speaker 4: you said they haven't seen this kind of the scale
Speaker 4: of ambition for some time in the US economy. Despite
Speaker 4: the challenges, it is an undeniable positive for any economy
Speaker 4: to have so many people willing to set up a
Speaker 4: new business and of course spurge upcraation. So right here,
Speaker 4: right now, I would say to you, this looks like
Speaker 4: a positive story with a lot of potential for the
Speaker 4: US and any other economy. But of course, who's to
Speaker 4: say what I would say you maybe twelve months.
Speaker 1: From now for Paul along of Rose Avenue Bakery and
Speaker 1: and show of Lost Generation Brewery. The RoadHead isn't certain
Speaker 1: in business large or small, It never is. But they're
Speaker 1: focusing on what brought them here in the first place,
Speaker 1: an idea and a community to serve.
Speaker 5: We get lots of messages from loyal customers who have
Speaker 5: told us during the pandemic this was their weekend treat.
Speaker 6: They awaited by.
Speaker 5: The computer for our pre order selections, and now they
Speaker 5: love being able to come into the cafe.
Speaker 3: We are luckily in an area where people understand that
Speaker 3: raw materials have gone up, and so they're willing to
Speaker 3: support local business, and so they're willing to spend These
Speaker 3: prices are to keep us afloat. You know, we don't
Speaker 3: ever try to be these multimillionaires. You know, we just
Speaker 3: want to do what we love and love what we do.
Speaker 1: Thanks for listening to us here at The Big Take.
Speaker 1: It's a daily podcast from Bloomberg and iHeartRadio. For more
Speaker 1: shows from iHeartRadio, visit the iHeartRadio app, Apple Podcasts, or
Speaker 1: wherever you listen, and we'd love to hear from you.
Speaker 1: Email us questions or comments to Big Take at Bloomberg
Speaker 1: dot net. The supervising producer of The Big Take is
Speaker 1: Vicky Ergolina. This episode was produced by Senior producer Catherine
Speaker 1: Fink and Molly NuGen Philde Garcia is our engineer. Our
Speaker 1: original music was composed by Leo Sidron. I'm Weskasova. We'll
Speaker 1: be back tomorrow with another big take.