Speaker 1: Earners. What's up.
Speaker 2: You ever walk into a small business and everything just
Speaker 2: works like The checkout is fast, the receipts are digital,
Speaker 2: tipping is a breeze, and you're out the door before
Speaker 2: the line even builds. Odds are they're using Square. We
Speaker 2: love supporting businesses that run on Square because it just
Speaker 2: feels seamless. Whether it's a local coffee shop, a vendor
Speaker 2: at a pop up market, or even one of our
Speaker 2: merch partners, Square makes it easy for them to take payments,
Speaker 2: manage inventory, and run their business with confidence, all from
Speaker 2: one simple system. If you're a business owner or even
Speaker 2: just thinking about launching something soon, Square is hands down
Speaker 2: one of the best tools out there to help you start, run,
Speaker 2: and grow. It's not just about payments, it's about giving
Speaker 2: you time back so you can focus on what matters
Speaker 2: most Ready. To see how Square can transform your business,
Speaker 2: visit Square dot com backslash go backslash eyl to learn
Speaker 2: more that Square dot com backslash, go backslash eyl. Don't wait,
Speaker 2: don't hesitate. Let's Square handle the back end so you
Speaker 2: can keep pushing your vision forward. This episode is brought
Speaker 2: to you by P and C Bank, a lot of
Speaker 2: people think podcasts about work are boring, and sure they
Speaker 2: definitely can be, but understanding of professionals routine shows us
Speaker 2: how they achieve their success little by little, day after day.
Speaker 2: It's like banking with P and C Bank. It might
Speaker 2: seem boring to save, plan and make calculated decisions with
Speaker 2: your bank, but keeping your money boring is what helps
Speaker 2: you live or more happily fulfilled life. P and C
Speaker 2: Bank Brilliantly Boring since eighteen sixty five. Brilliantly Boring since
Speaker 2: eighteen sixty five is a service mark of the PNC
Speaker 2: Financial Service Group, Inc. P and C Bank National Association
Speaker 2: Member FDIIC.
Speaker 3: So, like for social media, you know, engagement, that's like
Speaker 3: a big thing as far as you know, driving you,
Speaker 3: putting you into algorithm.
Speaker 1: We just t from a just social media landscape.
Speaker 3: Talk about engagement, like where did that even come from?
Speaker 3: How is that game rigged? How the whole engagement play?
Speaker 3: And then how does your platform relate to that when
Speaker 3: it comes to engagement.
Speaker 4: So so typically so social media was really based on
Speaker 4: following right fowers. When you think of my Space, you
Speaker 4: think of Facebook or friends, you know, stuff like that.
Speaker 4: And that was when we were in a time where
Speaker 4: social media was so much more personal, and I think
Speaker 4: we're forgetting that this is a young person's game.
Speaker 1: And so I was laughing the other day.
Speaker 4: I was like, honestly, I was talking about we were
Speaker 4: talking about freaking it and how like, for the generation
Speaker 4: of people that got on Facebook in two thousand four,
Speaker 4: Facebook turns twenty this year, right, So when people got
Speaker 4: on Facebook in two thousand fours, it was probably the
Speaker 4: first place where you could digitally save your photos. So
Speaker 4: for anybody on Facebook from two thousand nine to two
Speaker 4: thousand ten, it's basically a photo album for you. Now
Speaker 4: it's like where you're where your old ex girlfriends are,
Speaker 4: All the stuff you did in college and all that
Speaker 4: kind of stuff is there. And it wasn't so much
Speaker 4: about engagement as we moved into the as video entered
Speaker 4: into social media, it's.
Speaker 1: Views, right, and those views scale your following.
Speaker 4: But what happens with advertising is that now that you
Speaker 4: add video to social media, and again I'm saying the
Speaker 4: quiet part out loud, it's just simply think of this,
Speaker 4: every single person that's on social media that can put
Speaker 4: video on their page, you are.
Speaker 1: A television network.
Speaker 4: So for that very reason, however you measure or monetize
Speaker 4: advertising the television, you can monitor and measure advertising on
Speaker 4: social media. So if you have seventeen or eighteen million
Speaker 4: followers on social media right now, you have the monetary
Speaker 4: equivalent of Sunday Night Football on NBC.
Speaker 1: You have that visibility.
Speaker 4: If you got one hundred million followers right you have,
Speaker 4: you have the advertising equivalent of the Super Bowl.
Speaker 1: Right.
Speaker 4: So Facebook knows that and the advertisers know that, and
Speaker 4: so if there was no there there was no limit
Speaker 4: on engagement, then they would bypass these companies and come
Speaker 4: directly to people to say, hey, while you're doing this
Speaker 4: thing you're doing on your page whatever it is, and
Speaker 4: one hundred million people to see you. We're seventeen million
Speaker 4: people who do that, Oh this can for us and
Speaker 4: say hey, by the way, go buy this. And that's
Speaker 4: advertising to seventeen million people. And the difference is these
Speaker 4: programs come on one time a week, once a year, right,
Speaker 4: But imagine being able to reach seventeen million people twenty
Speaker 4: four hours a day, seven days a week.
Speaker 1: That's the quiet.
Speaker 4: Part out now that I understand people like are putting
Speaker 4: that portion together. It's like we're we're all moving social
Speaker 4: media is television now we are our behaviors changed. So
Speaker 4: with fan base, I want to say, following is dead.
Speaker 4: Engagement is the new is the new King of the hill, right,
Speaker 4: it's the people want to be seen, And so I
Speaker 4: wouldn't I would. I would much rather have a million
Speaker 4: people see my video and have ten thousand followers, and
Speaker 4: have a million followers and have ten thousand people see
Speaker 4: my video, which is happening now, which more people are
Speaker 4: like Yo, I got fifteen million followers, and every time
Speaker 4: I supposed a video, I get eighty six thousand views.
Speaker 1: I want to flip it. You know what I'm saying.
Speaker 4: I want people to have one point five million, one
Speaker 4: point five million views and have eighty six thousand followers
Speaker 4: because I'm not showing We don't show people content based
Speaker 4: on who follows you. We show content based on the
Speaker 4: things that you like plus who follows you.
Speaker 3: So your following is already gaming. Isn't that already how
Speaker 3: social media works? No, it's based off off of what
Speaker 3: they think you would interact with. But no, but it is.
Speaker 3: It's based off it's based off the algorithm. Yeah, what
Speaker 3: the algorithm thinks that you're gonna interact.
Speaker 4: With absolutely, but again it's still limited like just by default.
Speaker 4: Anybody watching this program right now, right anybody watching this
Speaker 4: program right now, go to your page and when you
Speaker 4: look at tap on somebody's profile on Instagram and say
Speaker 4: in notifications when you want to see lives and see
Speaker 4: what it's saying. They'll say, do you want to get
Speaker 4: notified some of the time, all the time? Are never
Speaker 4: It's already set to sum. So that means every time
Speaker 4: somebody you follow goes live, they're not notifying everybody that
Speaker 4: goes live by default. They're suppressing your content by default
Speaker 4: because again they have to limit your visibility. These platforms
Speaker 4: are in competition with users. They can't let you You
Speaker 4: can go to look at anybody's you can go look
Speaker 4: at anybody's reals videos, go look at somebody who you
Speaker 4: follows following versus amount of people that see their content
Speaker 4: are granted, everybody's not on social media twenty four hours.
Speaker 1: A day, seven days a week. But still over the
Speaker 1: course of.
Speaker 4: A month, if I have one point five million follows
Speaker 4: and people are tapping in, even if I have you know,
Speaker 4: I get seven hundred and fifty thousand views or whatever
Speaker 4: based off that, But you're not seeing that. You're seeing
Speaker 4: people like Cardi b with one hundred plus million followers.
Speaker 1: Get two million, six million views.
Speaker 4: So you already know the people that want to see
Speaker 4: her content aren't seeing her content because that's her imagine
Speaker 4: being able to reach one hundred million people saying go
Speaker 4: buy my album and go buy my song like.
Speaker 1: See, that's the future.
Speaker 4: The problem is the albatross of advertising that TikTok and
Speaker 4: Instagram are tied into. They just can't turn off the
Speaker 4: advertising switch and go to the monetization switch because ninety
Speaker 4: five percent of the income that is made on Facebook
Speaker 4: comes from advertising. TikTok enormous amount of money that TikTok
Speaker 4: makes from advertising, so they're still going to have to
Speaker 4: play that game. Right, there is no game when it's like, okay,
Speaker 4: we work off a rev share model. You have, you
Speaker 4: have a following, you monetize a certain percentage of those subscribers,
Speaker 4: we get a percentage of that revenue. Now take that
Speaker 4: and multiply that times not one hundred million people, but
Speaker 4: five hundred million people or a billion people, and then
Speaker 4: now you're saying, okay, you got a trillion out of company.
Speaker 1: So in terms of importance and metrics. You said that
Speaker 1: engagement probably never.
Speaker 4: Won on fans base, right, Yeah, yeah, I mean I
Speaker 4: think engagement is definitely what it's what it's what users want.
Speaker 4: I want to free that because that's what people want
Speaker 4: to experience.
Speaker 2: So I want, like on Instagram there's impression, and even
Speaker 2: on YouTube to a certain stent, there's impressions is reached.
Speaker 1: How do those metrics go inside? How do they work
Speaker 1: inside of fan base? Right? Are those equally as important
Speaker 1: or is it just.
Speaker 4: It's engagement, it's used, it's it's some pression when you
Speaker 4: so again when you're talking about impressions, and that's another
Speaker 4: way that.
Speaker 1: You actually calculate, like.
Speaker 4: CPM and like the costs of in average, like all
Speaker 4: those things are done. See, all those metrics are based
Speaker 4: off how you advertise. If advertising is not the language
Speaker 4: that you're speaking, then you're not even we're gonna we're
Speaker 4: gonna we're gonna monitor and see all of that data.
Speaker 4: So because I would never say never for advertising, even
Speaker 4: I'll say this right now, I would never say the
Speaker 4: fan base is never going to be a platform that
Speaker 4: that has advertising. If we do, I'm gonna find it in
Speaker 4: a way that doesn't interrupt the user experience.
Speaker 1: That's all I care about.
Speaker 4: I don't want to interrupt someone being Again, I get
Speaker 4: tagged in ten posts a day of some creators saying, man,
Speaker 4: I'm about to leave because I post all this content
Speaker 4: and nothing ever gets seen this. And this is before
Speaker 4: they even got to the fact that the content that people's
Speaker 4: content has value. This before they even made a dollar.
Speaker 4: You got people want to put social media just they
Speaker 4: not getting enough views. Forget about I gotta take now.
Speaker 4: I gotta take these views to get to the money.
Speaker 4: I'm saying, skip that whole little cat and mouse game
Speaker 4: and just go now. Now, this is this is the
Speaker 4: question that I asked when.
Speaker 1: We on board creators.
Speaker 4: We have creators come to the platform, they have large followings,
Speaker 4: and I said, okay, I gotta ask you. I said,
Speaker 4: I'm gonna ask you a question. Do you wanna be rich,
Speaker 4: you wanna be famous, or do you wanna be both?
Speaker 1: Right? If you want to be famous, stay over on Instagram.
Speaker 1: You know what I'm saying.
Speaker 4: If you wanna be rich, then start charging for your
Speaker 4: content the moment that you created, like create an exclusive paywall.
Speaker 4: Don't if you wanna be both fat this is probably
Speaker 4: where you wanna be because there's no there's no limit
Speaker 4: to the amount of reach you're gonna be able to have,
Speaker 4: and there's no limits to the amount of monetization that
Speaker 4: you're gonna be able to make.
Speaker 1: How many users do you have right now? Five hundred
Speaker 1: and ninety five thousand, So how many users do you
Speaker 1: need to play Unicorn status? It depends on the speed.
Speaker 4: So if I went from five, so i'll give you
Speaker 4: probably example when in the pandemic and it's still a
Speaker 4: rare thing. Well, in Clubhouse in about four or five months,
Speaker 4: they went from five thousand users to a million users in.
Speaker 1: Like five or six months.
Speaker 4: They that's when they went out and raised a hundred
Speaker 4: million out a billion dollar evaluation because then because they
Speaker 4: got to a million users in like five or six months,
Speaker 4: So that velocity creating that you know, and then it's
Speaker 4: also what people are actually Then here's another thing, it's
Speaker 4: also what the market is willing to pay. Right, So
Speaker 4: it's also what institutional investors are willing to pay if
Speaker 4: there's fomo that happens, right, and again it's beat them until.
Speaker 1: It's join them. So when institutional.
Speaker 4: Investors give fomo like Okay, this this train is left
Speaker 4: the station. We better get on board before we get
Speaker 4: left behind. Then they set your valuation, so there's no
Speaker 4: difference between there's no difference between fan Base and clubhouse
Speaker 4: that was founded with institutional capital. There's a company that
Speaker 4: says we're giving you money, that we're giving you one
Speaker 4: hundred million dollars to say that your company's worth a
Speaker 4: billion dollars. Then they went on to raise another two
Speaker 4: hundred million at a four billion dollar evaluation. That is
Speaker 4: incredible to me. And they still not figured out how
Speaker 4: to monetize over there. So again I'm thinking, like, okay, cool.
Speaker 4: So it's at velocity in which you get there. So again,
Speaker 4: our goals to get to a million users by the
Speaker 4: end of twenty twenty four, we could get there faster
Speaker 4: we get maybe we get to two three million users.
Speaker 4: That changes because now just by numbers alone, there's a
Speaker 4: monetary value that if we wanted to go to the advertising route,
Speaker 4: there's a value that fan Base has just based off
Speaker 4: the users.
Speaker 5: An illegal alien from Guatemala charged with raping a child
Speaker 5: in Massachusetts. An MS thirteen gang member from Al Salvador
Speaker 5: accused of murdering a Texas man of Venezuelan charged with
Speaker 5: filming and selling child pornography in Michigan. These are just
Speaker 5: some of the heinous migrant criminals caught because of President
Speaker 5: Donald J. Trump's leadership. I'm Christine Noman, the United States
Speaker 5: Secretary of Homeland Security. Under President Trump, attempted illegal border
Speaker 5: crossings are at the lowest levels ever recorded, and over
Speaker 5: one hundred thousand illegal aliens have been arrested. If you
Speaker 5: are here illegally, your next you will be fine nearly
Speaker 5: one thousand dollars a day, imprisoned and deported, you will
Speaker 5: never return. But if you register using our CBP home
Speaker 5: app and leave now, you could be allowed to return legally.
Speaker 5: Do what's right. Leave now. Under President Trump, America's laws,
Speaker 5: border and families will be protected.
Speaker 1: Sponsored by the United States Department of Homeland Security.