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Speaker 1: Coach, the energy out there felt different. What changed for

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Speaker 1: the team today?

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Speaker 2: It was the new game day scratches from the California

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Speaker 2: Lottery players.

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Speaker 3: Everything.

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Speaker 4: Those games sent the team's energy through the roof.

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Speaker 1: Are you saying it was the off field play that

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Speaker 1: made the difference on the field.

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Speaker 4: Hey, little play makes your day, and today it made

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Speaker 4: the game. That's all for now, Coach, one more question.

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Speaker 1: Play the new Los Angeles Chargers, San Francisco forty nine

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Speaker 1: Ers and Los Angeles Rams scratchers from the California Lottery.

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Speaker 1: A little play can make your day. Peace made responsibly.

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Speaker 1: Must be eighteen years or older to purchase late or claim.

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Speaker 3: All right, guys, welcome back.

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Speaker 5: So we have a very special addition today, very special guests,

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Speaker 5: very special topics. It's just very special all the way around.

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Speaker 5: So all right, we're gonna get this started. But before

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Speaker 5: we get it started, first we gotta give a shout

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Speaker 5: out to the d All did you know that we

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Speaker 5: was number two in d off a business podcast.

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Speaker 4: I did not know that.

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Speaker 5: Yeah, we have a very strong following at the some

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Speaker 5: of our best guests, Lord of the Slump Man, Fernando.

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Speaker 3: Shoza, shout out to Caesar and shout.

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Speaker 5: To everybody in Dykeman. Yeah, it's like a second home five.

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Speaker 5: They show us so much love out there.

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Speaker 2: It was the first place when we stepped out the car,

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Speaker 2: somebody was like, yo, Troy was shot and we were like, oh,

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Speaker 2: they know it's out here.

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Speaker 3: Ye shots.

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Speaker 5: Shout out at the tournament, specifically, shout out to Miguel

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Speaker 5: Chris Kenny, Mikeylo, keV and shout out to Katrina Castro.

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Speaker 5: She's a huge actress in Don She's a big fan

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Speaker 5: of the podcast too. So the reason why I say

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Speaker 5: that is that our guest and letting John Henry is uh,

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Speaker 5: you're Dominican, right, one hundred percent right?

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Speaker 4: Yes, I am from the Heights, from Heights as well.

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Speaker 4: That's pretty much to making republics for those who don't know.

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Speaker 5: Yeah, so if you don't know, John gave you a

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Speaker 5: brief introduction. He's the man, the myth, the legend. Yeah

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Speaker 5: Forbes thirty on the thirties. Whole team actually made that.

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Speaker 5: I just I just realized that he sold his first

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Speaker 5: company when he was twenty one, four million dollars. He

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Speaker 5: started co Fund Harlem. He owned seventeen apartment in two

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Speaker 5: buildings in Pennsylvania and he has a venture capital firm.

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Speaker 5: This is something I'm really interesting. He has a venture

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Speaker 5: capital firm. And he's twenty six, twenty six, twenty six

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Speaker 5: years old, twenty six years old, So that's a lot.

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Speaker 3: Lot, that's a lot.

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Speaker 5: So yes, can we get your story because it's I

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Speaker 5: did some reading and it's it's crazy. So you started

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Speaker 5: at eighteen, you were dormant, right.

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Speaker 4: That is correct?

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Speaker 3: Yep.

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Speaker 4: So first off, just shout out to you guys. Man.

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Speaker 3: Thanks, I appreciate you. Appreciate you.

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Speaker 4: Of course behind the camera too, never forget behind the

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Speaker 4: can for sure. Because we've been making we've been wanting

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Speaker 4: to pop off for a minute, and I've been getting

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Speaker 4: tagged on your guys, and not only just tag but

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Speaker 4: DM and like people.

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Speaker 2: We gotta I think we're gonna call him the earners,

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Speaker 2: like every Yeah, we're gonna call them the earners.

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Speaker 4: I've been looking for a little thing like that.

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Speaker 2: We're gonna go. Shout out to my man Kennon in Detroit.

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Speaker 2: He was like, Yo, Troy, you gotta call him the earners.

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Speaker 2: So when the earners come to your page, yep, they

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Speaker 2: come with.

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Speaker 4: A man and and then I had a homegirl who

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Speaker 4: was like yo, and put you guys in touch, and

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Speaker 4: we ended up in touch. So I'm glad. I'm glad

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Speaker 4: this went down. So yeah, So there's that because I

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Speaker 4: know it's not it's not easy to build a community,

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Speaker 4: and you got to stay very consistent, and it's very

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Speaker 4: difficult to remain consistent, whether it's original content and or curation.

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Speaker 4: Like your guys, curation is a very specific point of view.

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Speaker 4: So as a fellow content creator, I don't take that

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Speaker 4: for granted. So thank you.

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Speaker 3: I appreciate that. Thank you.

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Speaker 4: Yeah, no doubt So yeah, man, I mean my story

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Speaker 4: is what it is that's out there as well documented

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Speaker 4: and all that's just true. You know, just like kid

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Speaker 4: from the Heights, you know, grew up in a very

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Speaker 4: poor family. We grew up below the poverty line, so

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Speaker 4: Dominican immigrants to Dominican immigrants. So both my parents combined

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Speaker 4: didn't make thirty thousand a year. And there were six

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Speaker 4: so I'm the youngest of four. So it's four kids

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Speaker 4: plus two parents, six of us, you know, living just

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Speaker 4: like pretty much everyone else in the Heights of New

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Speaker 4: York in the nineties in a little one bedroom apartment

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Speaker 4: and my pops put up a little fake wall to

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Speaker 4: make everybody know that curtain. And so my sister had

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Speaker 4: a full bed, my oldest brother had the top bunk,

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Speaker 4: and I actually split the bottom bunk with my brother

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Speaker 4: closest to me in age. So it's not even like

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Speaker 4: we had a bunk bed. We split the bottom bunk.

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Speaker 4: It's not like a goal, which, like I guess these

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Speaker 4: days sounds like, oh my god, you know, but it's

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Speaker 4: just is what it is. And yeah, man, that was

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Speaker 4: just a formative DNA. I think one big blessing that

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Speaker 4: I had was grown up in a two parent household,

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Speaker 4: despite you know, a lot of adverse New York in

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Speaker 4: the nineties, just very crazy, a lot of shit popping off.

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Speaker 4: I had an oldest brother whom was of age when

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Speaker 4: when my parents moved to the States, so he was,

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Speaker 4: you know, thirteen, fourteen, fifteen, so you know, my parents.

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Speaker 4: I feel like, like Kendrick, like good kid, mad City,

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Speaker 4: definitely mad City. But my mom's who was who was

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Speaker 4: already like dealing with the effects of watching after my

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Speaker 4: oldest siblings, like made sure that you know, we were

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Speaker 4: busy or some ship you know, or stayed and we

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Speaker 4: only you know, we could play just in the lobby,

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Speaker 4: you know when we were and uh yeah. So anyway,

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Speaker 4: so that was the early DNA man and then you know,

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Speaker 4: I moved to We moved to Florida after nine to eleven.

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Speaker 4: Also one thing that I don't talk about that often,

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Speaker 4: but there we we there was an arm burglary in

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Speaker 4: our home. Complete mistake, you know, but some casts like

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Speaker 4: broke into our crib and you know, there were eight

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Speaker 4: guys that were all armed, tied us all up except

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Speaker 4: for me because they didn't expect two people to be

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Speaker 4: in the bottom bunk and I was. It was crazy

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Speaker 4: kind of stuff. And just like that couple with nine eleven,

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Speaker 4: my folks were like, yeah, we're not gonna do this.

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Speaker 4: So we moved to Florida, spent some time there. My

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Speaker 4: mom worked as a custodian in an affluentighborhood. And so

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Speaker 4: one of the perks that you get is that your

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Speaker 4: kids can go to that school district, whether or not

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Speaker 4: you live in that neighborhood. And so that was a

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Speaker 4: very big blessing because it's like a children horse got

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Speaker 4: to go to this schools, specifically high school where it's

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Speaker 4: just a lot of affluent kids and for the first

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Speaker 4: time we were like we were broke alone, Like I

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Speaker 4: was the only broke kid. It's one thing when everyone's

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Speaker 4: broke is one. There's another thing when like your friends

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Speaker 4: have enormous homes and getting whips at age of sixteen

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Speaker 4: and all this kind of stuff. So that kind of

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Speaker 4: put a chip on my shoulder in an interesting way.

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Speaker 4: And I guess, just to speed it up, I actually

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Speaker 4: fell in love with music. At that point in time.

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Speaker 4: I was damn near rosta. I had grown out.

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Speaker 3: Of my locks choice making.

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Speaker 4: That's a fact. Oh really, you know, spunked a little

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Speaker 4: too much, weak, was tied down my own shirts and

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Speaker 4: shiit picked up the guitar. Oh, just like roots, like

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Speaker 4: real real roots, like Barrington Levy he was in Trench. Yeah,

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Speaker 4: Ziggy's okay, like Damian Moore, you know Bob as well,

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Speaker 4: Steel Polse like roots roots. I actually joined a roots

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Speaker 4: reggae band. It was a whole Rosster Farign family. It

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Speaker 4: was a whole, the whole thing. But I pursued. I

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Speaker 4: fell in love with the instrument, and then through reggae,

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Speaker 4: discovered blues and reggae, which I love. It's but it's

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Speaker 4: very static as a music. It's boommmment and it sits

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Speaker 4: in the pocket. And then I discovered blues, it progresses

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Speaker 4: a little more, and then I discovered jazz. And at

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Speaker 4: that point I cut my hair and I was like,

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Speaker 4: I was playing eight hours a day every day. No,

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Speaker 4: it was not like a casual thing. I was very

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Speaker 4: committed to the music, and I actually moved back to

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Speaker 4: the city to pursue music. I wanted scholarship. I came

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Speaker 4: here for that. And then you know, coming back to

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Speaker 4: the city as a young adult and all the stimuli

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Speaker 4: that you have and all the drive you could really

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Speaker 4: apply towards anything. And so I got a job as

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Speaker 4: a doorman and that kind of started off my whole business. Dren.

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Speaker 2: Yeah, so the doorman situation, you said that a lot

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Speaker 2: of residents, wealthy residents will come in and out and

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Speaker 2: you decided that, hey, this is a chance here, and

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Speaker 2: one of them changed your.

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Speaker 4: Trajectory forever, forever. That's exactly right. The special thing about

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Speaker 4: living in a big city is the proximity. There's a

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Speaker 4: lot of power in proximity and like you just you know,

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Speaker 4: being exposed to different life paths and that can come

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Speaker 4: in the form of anything. For me, happened to come

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Speaker 4: in the form of working the desk and just seeing

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Speaker 4: I first at Dormant on Wall Street, seventy five Wall Street,

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Speaker 4: which is a residential building, and like I got exposed

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Speaker 4: to you know, trum, like the most affluent people in

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Speaker 4: the country, but that never felt attainable to me because

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Speaker 4: it was like, oh, white money. I then later got

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Speaker 4: the chance to Dormant in Brooklyn, and who was there

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Speaker 4: in that building A lot of different people with a

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Speaker 4: lot of different life paths. For instance, some folks that

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Speaker 4: come to mind, notable people. The founders are rap genius,

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Speaker 4: y genius, crazy, like few white boys, like oh what

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Speaker 4: you know them pastor Carl Lentz, mega pastor of Hillsong,

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Speaker 4: mega pastor now like globally known. There were directors. There

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Speaker 4: was the founder of Voxy, this cool startup, Christina Ricci,

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Speaker 4: this actress. I mean, there was this guy named Ivan Green,

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Speaker 4: a professional rock climber, professional dating coaches, I mean, every

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Speaker 4: kind of career you can think of. Yeah, like some

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Speaker 4: of us got paid thirty g's per client to show

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Speaker 4: losers how to pick up girls. And so yeah, at

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Speaker 4: some point, you know that kind of sustained proximity showed

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Speaker 4: me that you can make a living doing exactly what.

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Speaker 2: So like as people are coming in, you're just having

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Speaker 2: casual conversation and we're just passing it like this.

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Speaker 4: Guy, I like this kid, Yeah for sure, just being interested,

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Speaker 4: you know, like you know, there were dormant who had

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Speaker 4: been there for years, who were sleeping on you know,

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Speaker 4: the power of now.

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Speaker 5: You know, I'm glad we having this conversation because it's

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Speaker 5: something that a lot of times people take for granted

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Speaker 5: the power of networking. And like, speaking of Florida, I

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Speaker 5: used to play basketball, so I went to IMG Academy.

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Speaker 5: I don't know if you're in the sports, but it's

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Speaker 5: a real big sports academy in Florida. And one of

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Speaker 5: my biggest regrets is that when I was there, like

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Speaker 5: literally it was so many people that was there, like

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Speaker 5: John McEnroe's son, Maria Sharup over like all these different kids,

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Speaker 5: and it's like every like a lot of these people

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Speaker 5: came from very wealthy families or they they did extremely

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Speaker 5: good things. And I was kind of like just in

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Speaker 5: my vibe just you know, sheltered off just people. I

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Speaker 5: played basketball, but I wish that I would have. It

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Speaker 5: was right in my fingertips, right, And it's like a

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Speaker 5: lot of times people don't fully understand like you were

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Speaker 5: in the building and you networked. You wasn't like their peers,

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Speaker 5: but that didn't stop you from actually networking making relationships.

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Speaker 4: Yeah, And I just you know, want to bring a

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Speaker 4: little color to the word networking because that, to me,

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Speaker 4: it's got to up fake connotation of like networking, like

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Speaker 4: you're looking for something out of someone. And that was

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Speaker 4: just never my whole that was never my thing. I

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Speaker 4: was never like, yo, I'm going to meet with this resident,

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Speaker 4: because it was just like I'm just interested in you

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Speaker 4: as a person.

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Speaker 2: You become part of their daily life, Like I see

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Speaker 2: you every day.

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Speaker 4: For sure, right, Like we have kids, just like.

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Speaker 2: You've watched their kids grow, you watch them get a pet,

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Speaker 2: you watch all these things happen.

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Speaker 4: And there's something special about when you connect with someone

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Speaker 4: with no expectations in mind, and like that's what builds

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Speaker 4: to me, builds real depth and allows you to transcend

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Speaker 4: beyond the networking bucket and then you develop a real relationship.

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Speaker 4: And I'm still friends, actual friends with a lot of

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Speaker 4: these people. Man. And it's crazy, because you're right, we

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Speaker 4: weren't peers at that time, some you know, and allow

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Speaker 4: a lot of us are peers for real, and it's

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Speaker 4: just they still look at me and like, damn, that's

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Speaker 4: crazy because the door for me.

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Speaker 3: Sorry, So how'd you get the cleaning business? Though?

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Speaker 4: All right? So the cleaning business? And I'll run through

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Speaker 4: this quick because this is well dot com and I

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Speaker 4: suspect that maybe some of the folks listen might have

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Speaker 4: heard this bit of this. But yeah, man, there was

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Speaker 4: one resident in particular. His name is Hugo. Shout out

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Speaker 4: to Hugo. Love him like a brother, and yeah, he

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Speaker 4: comes from from where I come from, you know, different neighborhood, Brooklyn,

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Speaker 4: but you know, just from being poor. And he was like, Yo,

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Speaker 4: what fuck you doing? Bro? Like like you know, at

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Speaker 4: that time, so I was making fourteen dollars an hour

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Speaker 4: and I was in a suit and in an ac

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Speaker 4: and like that in and of itself, you know, my

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Speaker 4: my pops was paid forty cents a garment, you know,

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Speaker 4: so like damn your sweatshot conditions and so like there

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Speaker 4: was a notable step up. And it was enough for

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Speaker 4: me to I may maybe nine hundred bucks every two weeks.

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Speaker 4: So it's enough for me to help the family out.

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Speaker 4: But like he just quickly let me know, man, you

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Speaker 4: don't got to set up for being a dormant. You

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Speaker 4: could have your own dormant, you know. And he saw

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Speaker 4: my earnestness, so he put me up to something. And

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Speaker 4: there were actually a number of residents who were trying

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Speaker 4: to put me onto different hustles. But eventually you got

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Speaker 4: to find a vehicle that feels right for you. You know.

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Speaker 4: Some lady tried to put me onto editing videos, making

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Speaker 4: five hundred bucks of video. Like if that was in

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Speaker 4: my DNA, I could have done that, right, But I

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Speaker 4: ended up resonating with this approach. Hugo, who had a

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Speaker 4: franchise a dry cleaner. He has like maybe he had

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Speaker 4: like at that time, you know, dozens of dry cleaners.

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Speaker 4: And what I didn't know is that the facility is

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Speaker 4: the most expensive part. And then most of the dry

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Speaker 4: cleaners that you guys go to are actual their drop shops.

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Speaker 5: So let's talk about that, because I know you've probably

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Speaker 5: told this story before, but on Eyo, we like get

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Speaker 5: deep into So these are kind of businesses that you

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Speaker 5: see you use every day. But I've never heard anybody

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Speaker 5: explain the business model of how dry cleaner makes money.

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Speaker 5: So you had a successful dry cleaning business. You don't

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Speaker 5: even have a business background. That's interesting as well. How

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Speaker 5: do you know how to run a business and how

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Speaker 5: do you like, how is that Profitablecause at one point

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Speaker 5: you say he was making like a hundred like, well

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Speaker 5: the revenue was one hundred thousand a month.

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Speaker 3: Right, yeah, yeah, how is that possible?

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Speaker 4: Yeah? So you don't you don't need a business background.

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Speaker 4: You just you just gotta be you gotta be able

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Speaker 4: to make a transaction happen. And that's really at the

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Speaker 4: essence of the business of any business is transactions and people.

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Speaker 4: And so if you know, a lot of people don't

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Speaker 4: get off the ground because the weight of their expectations crushes,

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Speaker 4: you know, the seed of the thing. Because you place

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Speaker 4: all these experts, you know, I need this shit to

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Speaker 4: be a full blown business. Now, motherfucker, you don't like

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Speaker 4: make a sale, you know what you know? And so

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Speaker 4: Hugo showed me.

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Speaker 3: That.

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Speaker 4: So this is the way the dry cleaning model works.

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Speaker 4: Is like there's a facility and that is the expensive

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Speaker 4: part because these machines cost a lot of money, and

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Speaker 4: dry cleaning uses something called perk, which your clothes do

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Speaker 4: get wet, so dry cleaning is like a false pretense,

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Speaker 4: but it gets wet with a solvent chemical of sorts

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Speaker 4: solution called perk, and so anyway, that stuff has to

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Speaker 4: be handled in a very specific way and whatever. So

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Speaker 4: the facilities are typically expensive. However, most dry cleaners that

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Speaker 4: people interface with are actual what they call drop shops.

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Speaker 4: So this is a small retail facility, you know, like

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Speaker 4: might be four five hundred square feet where customers go

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Speaker 4: and it's typically in a residential neighborhood, and customers go

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Speaker 4: and they drop off their garments. Like if you know,

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Speaker 4: if I were to drop this off, this blazer would

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Speaker 4: cost me like nine bucks and my parents and whatever.

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Speaker 4: And then what those retail shops do is they actually

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Speaker 4: outsource them to the facility and then you typically pay

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Speaker 4: on a per piece basis. So for me, Hugo gave

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Speaker 4: me wholesale pricing without me having wholesale volume, i e.

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Speaker 4: This blazer as a regular customer would cost maybe nine

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Speaker 4: dollars to dry clean. Hugo was doing it for me

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Speaker 4: for two bucks. That's a great margin.

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Speaker 2: Now, did you have a facility or are you doing well?

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Speaker 4: So Hugo did so Hugo was like, yo, I can't

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Speaker 4: really help you out and that much, but I can

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Speaker 4: give you access to a facility. I was like, perfect,

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Speaker 4: that's all I need. So my job that's why it

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Speaker 4: was like there was no silver spoon or anything. My

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Speaker 4: job was. He was like, all right, bet you have that.

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Speaker 4: Oh think something happened. That's it. Yeah, see you later.

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Speaker 4: So then, you know, I took the same suit that

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Speaker 4: I was doormanning in and made some cheap business cards

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Speaker 4: and some fucking flyers and I called the Giant Ree cleaners.

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Speaker 4: It was not that original, you know, And I just

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Speaker 4: went to I was walking around Harlem and just knocking

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Speaker 4: on doors literally and getting to knownother doorman and saying, yo,

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Speaker 4: I know you're the key to the building because I'm

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Speaker 4: a doorman too, and like getting them to refer their

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Speaker 4: residence to me anytime they had an issue or whatever,

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Speaker 4: and I would break them off on the low. And

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Speaker 4: I remember when I got my first call from a lady,

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Speaker 4: you know. And I actually had gone to AT and

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Speaker 4: T and paid them two hundred bucks to get a

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Speaker 4: two one two cell phone number, so they thought they

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Speaker 4: were calling in a real shop. And I was having

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Speaker 4: lunch with my parents and I stepped out. She was like, hi, yeah.

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Speaker 4: I was like yes. She was like, I like to

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Speaker 4: place an order. I was like all right, cool. Yeah.

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Speaker 4: She gave me her dress. I took the subway. I

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Speaker 4: had no whip, but at the time took the subway.

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Speaker 3: You know.

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Speaker 4: She opened the door and I was expecting, you know,

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Speaker 4: I don't know what I was expecting, like to be

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Speaker 4: grilled or something. And she she didn't even know I

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Speaker 4: was on Henry. She just always a delivery guy. She's like, well,

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Speaker 4: here you go.

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Speaker 2: So it's like an on demand service.

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Speaker 4: Yep, she called.

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Speaker 3: I went.

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Speaker 4: I picked it up. I took it to the facility

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Speaker 4: where hego was at. Yeah, on foot via train. He

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Speaker 4: cleaned it. The next day. I went back to Bushwick

365
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Speaker 4: where he was grabbed. It, went all the way up

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Speaker 4: to Harlem, delivered it. And then when I delivered it,

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Speaker 4: she gave me seventeen bucks. And like, yes, I traveled

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Speaker 4: three or four hours total to make seventeen dollars. But

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Speaker 4: those seventeen dollars changed my life because it was seventeen

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Speaker 4: dollars from my own system, and one dollar from your

371
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Speaker 4: own system is worth a thousand dollars from another man's

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Speaker 4: that's powerful.

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Speaker 5: And also, you know I like that story is that

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Speaker 5: it's a lot of creativity in that. If you want

375
00:18:04,080 --> 00:18:10,280
Speaker 5: you watched Casino, No what you gotta watch what Casino?

376
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Speaker 5: Sam Rosstein? Who do you say the most important people

377
00:18:12,840 --> 00:18:13,480
Speaker 5: in Vegas was.

378
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Speaker 4: Troy to Do?

379
00:18:15,000 --> 00:18:18,960
Speaker 3: Nope, the the people at the table, the valet parkers.

380
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Speaker 2: Oh yes, yes, they know everybody know everybody.

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Speaker 3: I like the average person.

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Speaker 5: If I'm starting to clean a business, I'm going door

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Speaker 5: to door, Like, but think how much you went to

384
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Speaker 5: the dormant because they know everybody. You was already a

385
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Speaker 5: dormant yourself, so instead of having a knock on you

386
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Speaker 5: probably couldn't get in the building anyway. But instead of

387
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Speaker 5: trying to knock on three hundred doors and people was

388
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Speaker 5: like who are you? You just you cut the middleman out.

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Speaker 5: You went straight to the person that speaks to everybody on.

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Speaker 3: A day to day basis exactly.

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Speaker 5: You gave them an a sentive because you get them

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Speaker 5: some money for every person they preferred. It's actually a

393
00:18:49,760 --> 00:18:53,480
Speaker 5: brilliant system. See things like that is like who thinks

394
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Speaker 5: about stuff like that?

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Speaker 4: I mean you're in the industry, so you know, yeah, right,

396
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Speaker 4: And I can't. I can't take it for having some

397
00:19:00,880 --> 00:19:03,480
Speaker 4: brilliant idea. To your point, it was really just that's

398
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Speaker 4: what I knew, and so like like some people hear

399
00:19:07,680 --> 00:19:10,199
Speaker 4: this and want to replicate my path, But that was

400
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Speaker 4: just what I knew. So what do you know?

401
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Speaker 2: Yeah, well we got to give you credit though, right,

402
00:19:13,400 --> 00:19:15,800
Speaker 2: because there are four hundred to one thousand people who

403
00:19:15,800 --> 00:19:17,719
Speaker 2: were doing the same job who didn't have that.

404
00:19:18,000 --> 00:19:19,880
Speaker 4: Sure, you see what I'm saying. Sure, so I'll take

405
00:19:19,920 --> 00:19:24,120
Speaker 4: credit for having the drive, right, but I can't take

406
00:19:24,119 --> 00:19:26,600
Speaker 4: credit for having some kind of brilliance. It was just like,

407
00:19:27,320 --> 00:19:30,600
Speaker 4: you know, the connection with the doorman ran deeper than

408
00:19:30,640 --> 00:19:32,840
Speaker 4: the incentive because at some point you stop even breaking

409
00:19:32,880 --> 00:19:35,399
Speaker 4: them off. They do it because they talk like that

410
00:19:35,960 --> 00:19:40,399
Speaker 4: and like that. Man. People underestimate this shit. Man like

411
00:19:40,520 --> 00:19:43,480
Speaker 4: business is a lot more the art of connecting with

412
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Speaker 4: people than it is the art of making numbers. Later,

413
00:19:47,600 --> 00:19:51,080
Speaker 4: the numbers you know you'll yield. You'll make some money

414
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Speaker 4: as a result of connecting with people, in my opinion.

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Speaker 3: So you you skilled it to one hundred thousand a month.

416
00:19:56,520 --> 00:19:58,800
Speaker 4: Yeah, we grew, man, we were then. There was no

417
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Speaker 4: way we would get to that volume just doing little

418
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Speaker 4: individual residents. There was another resident of the build that

419
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Speaker 4: same building. I was planning a quip. You know, I

420
00:20:07,280 --> 00:20:10,320
Speaker 4: was waiting for December twenty fifth, you know, Christmas. I

421
00:20:10,400 --> 00:20:12,400
Speaker 4: was the building's favorite. So I was maybe gonna make

422
00:20:12,520 --> 00:20:16,800
Speaker 4: like four or five g's and that was enough. Man.

423
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Speaker 4: I was going to quit and get all my ship.

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Speaker 4: And I actually got fired because you know, entrepreneurs don't

425
00:20:21,320 --> 00:20:23,520
Speaker 4: make good employees. At that point, they were hitting me

426
00:20:23,560 --> 00:20:25,479
Speaker 4: with conflict of interests. You know, they were like, yo,

427
00:20:25,520 --> 00:20:29,040
Speaker 4: he's trying to convert residence to customers. You know that

428
00:20:29,160 --> 00:20:31,320
Speaker 4: wasn't true. But like you know, when they want to

429
00:20:31,320 --> 00:20:34,040
Speaker 4: give you the can like they oh, they'll definitely find

430
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Speaker 4: a way. So they found a way and they fired

431
00:20:36,440 --> 00:20:39,359
Speaker 4: me in December. So I was really distraught. Man. I

432
00:20:39,359 --> 00:20:43,240
Speaker 4: thought that my ship was over. And then I got

433
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Speaker 4: a call from a seed that I've been planting for

434
00:20:45,119 --> 00:20:48,320
Speaker 4: a minute. It was you know, one of this resident

435
00:20:48,320 --> 00:20:51,399
Speaker 4: introduced me to the film industry wardrobe supervisor for The

436
00:20:51,400 --> 00:20:54,000
Speaker 4: Wolf of Wall Street, which did end up becoming the

437
00:20:54,040 --> 00:20:55,040
Speaker 4: first movie I ever did.

438
00:20:55,920 --> 00:20:58,000
Speaker 2: You did the so you became the cleaning service for

439
00:20:58,080 --> 00:20:59,160
Speaker 2: all the wardrobe for the film.

440
00:20:59,200 --> 00:21:02,080
Speaker 4: If you've ever seen the World Wall Street, every single

441
00:21:02,280 --> 00:21:06,080
Speaker 4: piece of wardrobe from the principal actor Leonardo, to the

442
00:21:06,119 --> 00:21:11,359
Speaker 4: extras in the Stockbruker scenes, like all that shit is money.

443
00:21:11,400 --> 00:21:14,200
Speaker 4: And one thing people don't know is at production companies,

444
00:21:15,000 --> 00:21:19,320
Speaker 4: they actually for the most part rent garments unless they

445
00:21:19,320 --> 00:21:22,800
Speaker 4: are very specific pieces and they're they're custom. For the

446
00:21:22,840 --> 00:21:25,399
Speaker 4: most part, they're rented. And the cool thing about when

447
00:21:25,400 --> 00:21:29,240
Speaker 4: they're rented is that they have to return the garments

448
00:21:29,400 --> 00:21:32,840
Speaker 4: dry cleaned, and so they you know, at this point,

449
00:21:33,520 --> 00:21:36,040
Speaker 4: the dry clean industry didn't have anyone that was willing

450
00:21:36,040 --> 00:21:37,520
Speaker 4: to go and picture it up at three in the morning.

451
00:21:38,040 --> 00:21:41,440
Speaker 4: And so when a multimillion dollar production has no choice

452
00:21:41,480 --> 00:21:43,280
Speaker 4: but to go with an eighteen year old kid who

453
00:21:43,359 --> 00:21:46,159
Speaker 4: dropped out of college and had no business experience, that

454
00:21:46,240 --> 00:21:48,439
Speaker 4: tells you they have an actual need. Yeah, you know.

455
00:21:48,520 --> 00:21:50,560
Speaker 4: So we met and like, I didn't get the business

456
00:21:50,600 --> 00:21:53,760
Speaker 4: right away. Months passed and then he called me. He

457
00:21:53,840 --> 00:21:55,840
Speaker 4: was like, yo, you're in luck because I got no

458
00:21:56,119 --> 00:21:59,640
Speaker 4: other option. You know. He's like, you want to come

459
00:22:00,160 --> 00:22:01,880
Speaker 4: the ship and I was like yeah, And I actually

460
00:22:01,960 --> 00:22:05,680
Speaker 4: went to pick up my first load of laundry. When

461
00:22:05,680 --> 00:22:07,760
Speaker 4: you're in the laundry business and you see big sacks

462
00:22:08,080 --> 00:22:10,840
Speaker 4: a laundry. You don't see sacks of clothes. You see

463
00:22:10,880 --> 00:22:13,600
Speaker 4: giant money bags. Literally, like I'm just like, oh my god.

464
00:22:13,640 --> 00:22:15,600
Speaker 4: There was like maybe five or six big ass bags,

465
00:22:16,400 --> 00:22:19,560
Speaker 4: and and I didn't have a whip man. And they

466
00:22:19,560 --> 00:22:22,000
Speaker 4: were like, yo, you want to sell? They were like, yo,

467
00:22:22,080 --> 00:22:23,560
Speaker 4: you want us to help you carry this ouse? Like no,

468
00:22:23,560 --> 00:22:25,560
Speaker 4: no, no no. I got the band right around the corner,

469
00:22:25,760 --> 00:22:28,119
Speaker 4: and I actually brought the sack one by one and

470
00:22:28,240 --> 00:22:32,040
Speaker 4: left them around the corner. And then when I was

471
00:22:32,080 --> 00:22:34,400
Speaker 4: sure they wasn't looking, I went and I lugged them

472
00:22:34,720 --> 00:22:37,600
Speaker 4: up the a train to my put them on the train.

473
00:22:37,640 --> 00:22:41,840
Speaker 4: I put them on the train, all six. So so

474
00:22:42,320 --> 00:22:45,199
Speaker 4: when you watch street, all them ships were dragged through

475
00:22:45,200 --> 00:22:46,000
Speaker 4: the uptown train.

476
00:22:46,880 --> 00:22:47,840
Speaker 3: A train is the worst.

477
00:22:47,840 --> 00:22:51,080
Speaker 2: Literally, just just just curious bags. Bro, what what what

478
00:22:51,160 --> 00:22:53,480
Speaker 2: type of revenue comes from that type of cleaning?

479
00:22:53,520 --> 00:22:56,560
Speaker 4: So I must I must have made on that order

480
00:22:56,880 --> 00:23:00,920
Speaker 4: something like uh maybe two g or something like that.

481
00:23:01,560 --> 00:23:04,879
Speaker 4: And then the margin works out to you net like

482
00:23:05,000 --> 00:23:09,640
Speaker 4: damn near seventy or sixty five percent because you pay

483
00:23:09,640 --> 00:23:11,600
Speaker 4: on a perpose basis and all this other stuff. But

484
00:23:11,640 --> 00:23:14,720
Speaker 4: the point is here, I was making nine hundred bucks

485
00:23:14,760 --> 00:23:18,240
Speaker 4: every two weeks and I just made two g's in

486
00:23:18,280 --> 00:23:20,800
Speaker 4: an order. Now, not every order. I knew at that

487
00:23:20,840 --> 00:23:22,560
Speaker 4: point not every order was going to be two g's.

488
00:23:22,600 --> 00:23:26,920
Speaker 4: But you know in theory that if you can hit that,

489
00:23:26,920 --> 00:23:28,959
Speaker 4: then you can hit it again, and so like that

490
00:23:29,080 --> 00:23:31,240
Speaker 4: was a point with which like I kind of broke.

491
00:23:31,359 --> 00:23:33,600
Speaker 4: I mean, really, the seventeen dollars order was what let

492
00:23:33,640 --> 00:23:36,080
Speaker 4: me know, Okay, it's the measure of your effort, but

493
00:23:36,160 --> 00:23:37,640
Speaker 4: that one let me know, all right, there's some real

494
00:23:37,680 --> 00:23:40,760
Speaker 4: money to be made. And then long story short, we

495
00:23:40,800 --> 00:23:42,880
Speaker 4: did a great job with that. I did not bring

496
00:23:42,920 --> 00:23:46,199
Speaker 4: that one to Hugo, respectfully. I actually brought it to

497
00:23:46,240 --> 00:23:49,159
Speaker 4: my father, whom I mentioned was a presser growing up.

498
00:23:49,359 --> 00:23:51,240
Speaker 4: And that's how you put us through. And it makes

499
00:23:51,240 --> 00:23:53,240
Speaker 4: me cry sometimes when I think about it, man, because

500
00:23:53,560 --> 00:23:56,199
Speaker 4: you know, I was embarrassed about my father's profession growing up,

501
00:23:57,280 --> 00:23:59,520
Speaker 4: and that is the same thing that ended up. I

502
00:23:59,560 --> 00:24:01,560
Speaker 4: was able to bring it. And my father's actually a

503
00:24:01,640 --> 00:24:05,800
Speaker 4: master presser. He's not like an like, he's a master presser.

504
00:24:05,880 --> 00:24:09,160
Speaker 4: Highly saw it out and he pressed these garments very beautifully.

505
00:24:09,160 --> 00:24:12,400
Speaker 4: I brought him back and then David Davenport, he gave

506
00:24:12,440 --> 00:24:15,160
Speaker 4: me what's called the rap, which is the final order

507
00:24:15,240 --> 00:24:18,679
Speaker 4: of the entire movie, when they clean every garment. And

508
00:24:18,720 --> 00:24:21,480
Speaker 4: he said, Yo, bring a truck. And I went upstate

509
00:24:21,960 --> 00:24:23,880
Speaker 4: and I brought an suv and he was like, John,

510
00:24:23,920 --> 00:24:27,280
Speaker 4: bring a truck. And I came back with a truck

511
00:24:27,680 --> 00:24:31,600
Speaker 4: and he opened up the fucking enormous garage door and

512
00:24:31,680 --> 00:24:35,520
Speaker 4: there was sacks of laundry maybe fifteen or twenty feet high,

513
00:24:35,560 --> 00:24:39,399
Speaker 4: literally every garment in the entire production. And when I

514
00:24:39,440 --> 00:24:41,719
Speaker 4: was looking at that, all I saw again it was

515
00:24:41,760 --> 00:24:45,880
Speaker 4: just giant money rags. Yeah, and that order, I think

516
00:24:45,920 --> 00:24:50,480
Speaker 4: we made twelve to fifteen thousand, and that was enough

517
00:24:50,480 --> 00:24:52,360
Speaker 4: for me to buy my first whip and just kind

518
00:24:52,359 --> 00:24:55,080
Speaker 4: of keep the motion going because after that he was like, Yo,

519
00:24:55,119 --> 00:24:57,480
Speaker 4: there's a new account town. If you get them, you're

520
00:24:57,480 --> 00:24:59,760
Speaker 4: gonna be okay. For a long time. That was Borwalk,

521
00:25:00,480 --> 00:25:02,480
Speaker 4: and then after that Law and Order, A Person Adventures,

522
00:25:02,480 --> 00:25:04,800
Speaker 4: White Collar, Made a Spider Man two, Ninja Turtle, Spike Lee,

523
00:25:04,880 --> 00:25:06,280
Speaker 4: Mike Tyson, Barclay Center.

524
00:25:08,720 --> 00:25:08,960
Speaker 3: Yeah.

525
00:25:09,000 --> 00:25:10,320
Speaker 5: But let me ask you this, because you all right,

526
00:25:10,359 --> 00:25:12,120
Speaker 5: you sold it for a million dollars, and I heard

527
00:25:12,160 --> 00:25:14,040
Speaker 5: you said that you sold it because you wasn't passionate,

528
00:25:14,320 --> 00:25:17,000
Speaker 5: but My thing is, you got a nice thing going,

529
00:25:17,200 --> 00:25:20,280
Speaker 5: you're making a lot of money. If you're not passionate,

530
00:25:20,280 --> 00:25:22,239
Speaker 5: why not just have somebody else run it and just

531
00:25:22,359 --> 00:25:23,200
Speaker 5: do something else.

532
00:25:23,040 --> 00:25:25,120
Speaker 4: Because it's not it's not really that simple. I don't

533
00:25:25,119 --> 00:25:27,359
Speaker 4: believe in that. In that, I don't believe in that.

534
00:25:28,480 --> 00:25:32,760
Speaker 4: I believe that you're either running things with a tremendous

535
00:25:33,160 --> 00:25:37,720
Speaker 4: energy and looking to grow, or you're slowly declining and

536
00:25:37,800 --> 00:25:41,200
Speaker 4: now you can have a system in place that makes

537
00:25:41,200 --> 00:25:44,080
Speaker 4: a decline very gradual so you can cash out a

538
00:25:44,119 --> 00:25:48,080
Speaker 4: lot over time. But I really think it's a myth

539
00:25:48,200 --> 00:25:50,359
Speaker 4: that you can have this you know business kind of on.

540
00:25:50,640 --> 00:25:53,600
Speaker 4: You know, you can have a little small business kind

541
00:25:53,600 --> 00:25:55,960
Speaker 4: of on that you've set up and you have you

542
00:25:56,040 --> 00:26:01,479
Speaker 4: deploy a manager. But that was not the way that

543
00:26:01,600 --> 00:26:04,920
Speaker 4: my business was set up. My business was very high touch,

544
00:26:05,400 --> 00:26:09,879
Speaker 4: specifically with the film industry, very high touch clientele. It

545
00:26:09,960 --> 00:26:12,119
Speaker 4: is not a hands off like it's a job we

546
00:26:12,160 --> 00:26:15,399
Speaker 4: need you at three like it's incredibly intense and the

547
00:26:15,440 --> 00:26:17,480
Speaker 4: only person who would deal with that shit is the owner.

548
00:26:18,359 --> 00:26:21,040
Speaker 2: And so how many staff did you have at the peak,

549
00:26:21,160 --> 00:26:23,080
Speaker 2: fifteen fifteen people?

550
00:26:24,280 --> 00:26:25,840
Speaker 4: You know, we had a creative director. I was very

551
00:26:25,880 --> 00:26:28,040
Speaker 4: creative with my hir and I had a branding guy,

552
00:26:28,119 --> 00:26:30,600
Speaker 4: I know what cleaners do? You guys know that as

553
00:26:30,640 --> 00:26:34,000
Speaker 4: a full time branding person, and he taught me I

554
00:26:34,119 --> 00:26:38,919
Speaker 4: credit to omesh personage from the Bronx Indian guy. He

555
00:26:39,040 --> 00:26:46,879
Speaker 4: taught me my initial appreciation for font, font typography, spacing,

556
00:26:47,080 --> 00:26:53,560
Speaker 4: brand touch points, you know with the product. And so anyway, yeah,

557
00:26:53,560 --> 00:26:55,240
Speaker 4: I sold that shit. Man. I sold it because it

558
00:26:55,320 --> 00:26:59,479
Speaker 4: was a headache and frankly, the macro environment was not

559
00:26:59,560 --> 00:27:02,199
Speaker 4: one that I wanted to I didn't want to be

560
00:27:02,240 --> 00:27:05,720
Speaker 4: in this business anymore because I saw a very bleak

561
00:27:05,880 --> 00:27:11,440
Speaker 4: future for the business. Because that was twenty fourteen, which

562
00:27:11,480 --> 00:27:13,880
Speaker 4: is when I sold the December third, twenty fourteen. That

563
00:27:14,119 --> 00:27:16,600
Speaker 4: was the time when it was not clear if it

564
00:27:16,600 --> 00:27:18,480
Speaker 4: would be Uber or lyft. I don't know if you

565
00:27:18,480 --> 00:27:20,760
Speaker 4: guys remember those days, but it was all about the

566
00:27:20,840 --> 00:27:22,639
Speaker 4: Uber for everything. It was Uber for this Uber for

567
00:27:22,680 --> 00:27:25,000
Speaker 4: that funding funding fun and I was like, damn, I'm

568
00:27:25,040 --> 00:27:27,200
Speaker 4: just looking at the picture and I was already going

569
00:27:27,240 --> 00:27:29,520
Speaker 4: toe to toe with these people and I'm like, damn,

570
00:27:30,200 --> 00:27:32,159
Speaker 4: I just don't see this fair and well like it

571
00:27:32,320 --> 00:27:35,040
Speaker 4: just it's clear to me that people are subsidizing their

572
00:27:35,080 --> 00:27:38,359
Speaker 4: operations with ridiculous amounts of venture capital. At that point,

573
00:27:38,440 --> 00:27:41,360
Speaker 4: I didn't have confidence in my ability to raise venture capital.

574
00:27:42,160 --> 00:27:44,280
Speaker 4: And you know, I was like, dude, I got some

575
00:27:44,600 --> 00:27:47,119
Speaker 4: decent that I built. Someone's willing to pay for it.

576
00:27:47,480 --> 00:27:51,639
Speaker 4: Let me just sell the shit million dollars. And I could.

577
00:27:51,640 --> 00:27:53,840
Speaker 4: That was a gross that was not the net ticket price.

578
00:27:54,640 --> 00:27:59,640
Speaker 4: But that was like to me, the power of narrative

579
00:27:59,800 --> 00:28:02,760
Speaker 4: and the power of confidence, and like, I started something

580
00:28:03,240 --> 00:28:05,119
Speaker 4: in my own mind. I started this shit at the

581
00:28:05,119 --> 00:28:09,080
Speaker 4: desk with my own mind, put some brand behind it,

582
00:28:09,680 --> 00:28:11,800
Speaker 4: bells and whistles, whatever the fuck you want to call it,

583
00:28:12,400 --> 00:28:16,560
Speaker 4: grew it, and a more experienced competitor and businessman whom

584
00:28:16,880 --> 00:28:18,919
Speaker 4: I mean, this guy was really one of the smartest

585
00:28:18,920 --> 00:28:21,439
Speaker 4: guys I know, a Mexican guy math. He was a

586
00:28:21,480 --> 00:28:25,479
Speaker 4: mathematician by trade, and he saw value in it, and

587
00:28:25,480 --> 00:28:28,920
Speaker 4: I sold it man, and at twenty one, at twenty one, yes, sir.

588
00:28:29,400 --> 00:28:31,320
Speaker 5: So all right, you just talked about VC. So this

589
00:28:31,359 --> 00:28:32,720
Speaker 5: is gonna bring us to our next time. We're gonna

590
00:28:32,720 --> 00:28:34,480
Speaker 5: talk about a bench of capital. That's what you're doing now.

591
00:28:34,480 --> 00:28:36,399
Speaker 5: And this is something that I'm really interested in because

592
00:28:36,920 --> 00:28:39,480
Speaker 5: we haven't really covered this in depth at all. So

593
00:28:39,960 --> 00:28:41,880
Speaker 5: he were gonna talk about that next, all right, So

594
00:28:41,920 --> 00:28:44,040
Speaker 5: now we're gonna talk about VC. So we talked about

595
00:28:44,120 --> 00:28:46,600
Speaker 5: vcs before. Previously we had an x NFL play shout

596
00:28:46,600 --> 00:28:49,880
Speaker 5: out to Mike Brown and he's doing equity crowdfunding and

597
00:28:49,920 --> 00:28:52,560
Speaker 5: he went to Duke. He used to work in Silicon Valley,

598
00:28:53,000 --> 00:28:57,480
Speaker 5: so he's Silicon Valley and we know. So yeah, he

599
00:28:57,480 --> 00:28:59,320
Speaker 5: told us about the whole VC process and all that.

600
00:28:59,440 --> 00:29:01,480
Speaker 5: But like I said, one of the good things about

601
00:29:01,560 --> 00:29:03,240
Speaker 5: Ernie Lisia is that it's kind of turned into like

602
00:29:03,240 --> 00:29:05,600
Speaker 5: a college course in sorts where it's like, you know,

603
00:29:05,680 --> 00:29:08,280
Speaker 5: a lot of these things you hear about, but nobody

604
00:29:08,280 --> 00:29:12,160
Speaker 5: really knows the inner workings of it. And from his perspective,

605
00:29:12,160 --> 00:29:14,640
Speaker 5: he told us to the outside end, but you actually

606
00:29:14,840 --> 00:29:18,360
Speaker 5: have a VC firm. Yes, so this is we're just

607
00:29:18,400 --> 00:29:21,200
Speaker 5: getting the apple sauce from the apple orchard. Yes, So

608
00:29:21,440 --> 00:29:23,800
Speaker 5: this is dope. So all right, how did all right,

609
00:29:23,880 --> 00:29:25,520
Speaker 5: so we gotta tell a story on this.

610
00:29:25,560 --> 00:29:27,320
Speaker 3: How did you? How did you come into the venture

611
00:29:27,360 --> 00:29:28,000
Speaker 3: capital world?

612
00:29:28,720 --> 00:29:34,480
Speaker 4: Okay, so after I sold my business, I at that

613
00:29:34,600 --> 00:29:37,440
Speaker 4: time was very passionate about building some kind of startup

614
00:29:37,480 --> 00:29:40,680
Speaker 4: community in Harlem. So I did that, and it initially

615
00:29:40,720 --> 00:29:42,640
Speaker 4: started as like a little meetup that we call co

616
00:29:42,760 --> 00:29:46,320
Speaker 4: found Harlem, and it just kind of turned into you know,

617
00:29:46,400 --> 00:29:48,080
Speaker 4: at that point, because I sold the business, I had

618
00:29:48,080 --> 00:29:50,200
Speaker 4: a lot more bandwidth and creativity and runway, and I

619
00:29:50,280 --> 00:29:52,560
Speaker 4: wanted to make some shit happen. So we added a

620
00:29:52,600 --> 00:29:55,560
Speaker 4: little business model behind it. It was not a great one,

621
00:29:55,880 --> 00:29:59,200
Speaker 4: but it turned into incubator of sorts. I convinced a

622
00:29:59,280 --> 00:30:02,080
Speaker 4: developer to g me space for free. By the way,

623
00:30:02,120 --> 00:30:05,480
Speaker 4: this is a thing you can I learned. I learned

624
00:30:05,520 --> 00:30:07,400
Speaker 4: a lot to co Found Harlem because it was a

625
00:30:07,440 --> 00:30:10,560
Speaker 4: non for profit that focused on economic development, so improve

626
00:30:10,560 --> 00:30:14,120
Speaker 4: in the area. And so that that got me to

627
00:30:14,160 --> 00:30:15,760
Speaker 4: interface with politics.

628
00:30:15,960 --> 00:30:19,080
Speaker 5: So cupful because people might not be familiar. Co Found

629
00:30:19,080 --> 00:30:22,600
Speaker 5: Harlem was an initiative that you started to help small

630
00:30:22,640 --> 00:30:24,440
Speaker 5: businesses in Harlem get capital right.

631
00:30:24,560 --> 00:30:27,160
Speaker 4: Yes, it was the first incubator in Harlem, and so

632
00:30:27,320 --> 00:30:31,600
Speaker 4: that kind of project I stepped up a little bit

633
00:30:31,600 --> 00:30:33,560
Speaker 4: in my thinking. I got a little bit more macro

634
00:30:33,640 --> 00:30:36,800
Speaker 4: because I was going from just operating a business. Now

635
00:30:36,840 --> 00:30:40,400
Speaker 4: I'm helping other people operate. So I'm interfacing with politics

636
00:30:40,640 --> 00:30:43,560
Speaker 4: because I discovered, oh shit, politicians care about the area.

637
00:30:43,560 --> 00:30:48,520
Speaker 4: Getting better, but more important than politicians. Politicians have power,

638
00:30:49,200 --> 00:30:52,200
Speaker 4: but real estate developers have a very long term interest

639
00:30:52,240 --> 00:30:55,200
Speaker 4: in the area. I discovered longer term than politicians because

640
00:30:55,200 --> 00:30:57,880
Speaker 4: politics are just like looking for the quick election. Yeah,

641
00:30:57,960 --> 00:31:01,280
Speaker 4: these members are here forty fifty years. And so I

642
00:31:01,360 --> 00:31:05,760
Speaker 4: pitched a developer to give me free space. And you know,

643
00:31:05,800 --> 00:31:07,200
Speaker 4: it was a very bold thing, and it was like

644
00:31:07,280 --> 00:31:08,720
Speaker 4: why would I do that. I was like, well, because

645
00:31:08,720 --> 00:31:11,520
Speaker 4: I'm gonna incubate businesses and the only thing I'm going

646
00:31:11,560 --> 00:31:13,800
Speaker 4: to ask for them is that they stay in Harlem. Yeah.

647
00:31:13,800 --> 00:31:15,040
Speaker 2: I think that's one of the things you said, right,

648
00:31:15,040 --> 00:31:17,760
Speaker 2: that the businesses had to put their headquarters in Harlem.

649
00:31:17,880 --> 00:31:20,520
Speaker 4: Yes, for four years. It ended up. It started as four,

650
00:31:20,520 --> 00:31:23,320
Speaker 4: I ended up being two, okay, and so anyway, so yeah,

651
00:31:23,320 --> 00:31:25,200
Speaker 4: so we were able to get free space because they

652
00:31:25,240 --> 00:31:27,400
Speaker 4: were like, all right, bet, like, we want the value

653
00:31:27,440 --> 00:31:30,280
Speaker 4: of our proper our main business residence is to go up.

654
00:31:30,520 --> 00:31:32,440
Speaker 4: So they had some retail that was opened, so our

655
00:31:32,520 --> 00:31:35,080
Speaker 4: bet cool take that. So yeah, so we got the space,

656
00:31:35,120 --> 00:31:37,000
Speaker 4: we got mentors, we made a little bit of buzz,

657
00:31:37,040 --> 00:31:39,200
Speaker 4: we got companies applying. All of a sudden, I'm running

658
00:31:39,240 --> 00:31:42,280
Speaker 4: an incubator. It's a non for profit incubator. I'm raising

659
00:31:42,320 --> 00:31:45,720
Speaker 4: money through grants and fund you know, and sponsors and

660
00:31:45,720 --> 00:31:49,600
Speaker 4: shit like that. And I inadvertently got into running kind

661
00:31:49,600 --> 00:31:51,160
Speaker 4: of an event's business. We had a little bit of

662
00:31:51,160 --> 00:31:53,320
Speaker 4: an event. That's when I really started dipping my toe

663
00:31:53,320 --> 00:31:57,120
Speaker 4: into content and building a community type business. And then

664
00:31:57,160 --> 00:32:02,920
Speaker 4: eventually one of my biggest don owners who I didn't know.

665
00:32:03,040 --> 00:32:06,760
Speaker 4: His name is David Rose. He's a very prolific angel investor.

666
00:32:06,800 --> 00:32:09,160
Speaker 4: He's one of the most active in New York City.

667
00:32:09,480 --> 00:32:11,640
Speaker 4: He pretty much was like, Yo, I come from a

668
00:32:11,640 --> 00:32:13,920
Speaker 4: big real estate family. You might not know that, but

669
00:32:14,240 --> 00:32:15,880
Speaker 4: I want you to do what you did for Ko

670
00:32:15,960 --> 00:32:18,520
Speaker 4: found Harlem for us and learn the investment side.

671
00:32:18,560 --> 00:32:20,120
Speaker 2: Can you describe what an angel funder?

672
00:32:20,400 --> 00:32:25,360
Speaker 4: Yes, So, an angel investor invests in startups with their

673
00:32:25,400 --> 00:32:30,400
Speaker 4: own money. A VC, a venture capitalist invest in startups

674
00:32:30,640 --> 00:32:33,920
Speaker 4: with other people's money. And that's really the key distinction.

675
00:32:34,520 --> 00:32:37,480
Speaker 4: And so David Rose is a prolific angel and he

676
00:32:37,600 --> 00:32:41,000
Speaker 4: wanted me to He wanted to recruit me and help

677
00:32:41,040 --> 00:32:44,760
Speaker 4: him run a fund as a real estate technology fund.

678
00:32:44,880 --> 00:32:48,040
Speaker 4: So we invested in real estate technology, not physical stuff,

679
00:32:48,560 --> 00:32:50,880
Speaker 4: property management software. And I told Dave, I was like Yo,

680
00:32:50,960 --> 00:32:52,400
Speaker 4: I don't really know any of this. He's like, John,

681
00:32:52,440 --> 00:32:55,280
Speaker 4: we know real estate. You bring your energy. So anyway,

682
00:32:55,280 --> 00:32:58,480
Speaker 4: fast forward a year, we learned, you know, we made

683
00:32:58,520 --> 00:33:01,680
Speaker 4: some good investments and like I sourced the deals on

684
00:33:01,720 --> 00:33:03,640
Speaker 4: my own, like I did everything on my own because

685
00:33:03,640 --> 00:33:06,160
Speaker 4: they were too busy to really give me guidance. But

686
00:33:06,240 --> 00:33:08,600
Speaker 4: the most important thing I learned had nothing to do

687
00:33:08,680 --> 00:33:11,920
Speaker 4: with the job itself. It had to do with like

688
00:33:12,240 --> 00:33:17,800
Speaker 4: the family had generational wealth, like they controlled thou dozens

689
00:33:17,840 --> 00:33:20,920
Speaker 4: of thousands of units in New York City. I mean

690
00:33:21,000 --> 00:33:23,239
Speaker 4: truly a legacy family, man. I mean when you go

691
00:33:23,360 --> 00:33:27,560
Speaker 4: to you know, Dizzey's Club, that's that's the Rose. You

692
00:33:27,600 --> 00:33:29,480
Speaker 4: know the Rose Hall. If you go to the American

693
00:33:29,520 --> 00:33:32,520
Speaker 4: Museum of Natural History, that's the Rose Planetarium. Like they're

694
00:33:32,560 --> 00:33:35,320
Speaker 4: embedded in what it means to be New York. Mister Rose,

695
00:33:35,360 --> 00:33:38,680
Speaker 4: as David's father, large and part funded Martin Luther King

696
00:33:38,760 --> 00:33:41,880
Speaker 4: Junior's original Millenmire in March in nineteen sixty three. I mean,

697
00:33:41,880 --> 00:33:45,360
Speaker 4: we're talking about a legacy family. And so at that point, man,

698
00:33:45,400 --> 00:33:47,040
Speaker 4: I really caught the bug. I was like, yo, I

699
00:33:47,120 --> 00:33:50,840
Speaker 4: gotta go do this for us. So I went back uptown.

700
00:33:51,600 --> 00:33:54,000
Speaker 4: I met, I met the fellas whom are now my

701
00:33:54,040 --> 00:33:57,960
Speaker 4: partners at ACP. They had their own background. They come

702
00:33:58,000 --> 00:34:02,160
Speaker 4: from a more academic background, and they were fortunate to

703
00:34:02,200 --> 00:34:05,880
Speaker 4: be exposed to finance early. You know, I learned this

704
00:34:05,920 --> 00:34:08,799
Speaker 4: shit through being an entrepreneur. They learned this through like

705
00:34:09,239 --> 00:34:12,360
Speaker 4: there are pathways and programs in place. There's one called

706
00:34:12,520 --> 00:34:16,320
Speaker 4: SEO and there's one called MLT. These are placement programs

707
00:34:16,320 --> 00:34:19,920
Speaker 4: specifically for people of color to break into investment banking.

708
00:34:20,200 --> 00:34:23,319
Speaker 4: That's only in New York or this is nationwide, I

709
00:34:23,360 --> 00:34:27,719
Speaker 4: want to say. And and yeah, these brothers actually all

710
00:34:27,800 --> 00:34:30,080
Speaker 4: you know, they the group was bigger back then. They

711
00:34:30,200 --> 00:34:33,720
Speaker 4: all met in these placement programs, all working for banks,

712
00:34:33,760 --> 00:34:37,279
Speaker 4: Goldman Bank of America, shit like that, and they decided, like, yo,

713
00:34:37,360 --> 00:34:39,600
Speaker 4: let's put our bread to work. So that you know,

714
00:34:39,640 --> 00:34:41,680
Speaker 4: they started doing that, and they kept hearing about me,

715
00:34:42,080 --> 00:34:45,160
Speaker 4: because that's one thing. If you are top of mind

716
00:34:45,400 --> 00:34:47,919
Speaker 4: at whatever you do, you're going to get more opportunities.

717
00:34:48,760 --> 00:34:51,480
Speaker 4: And so you know, eventually they came on my radar.

718
00:34:51,560 --> 00:34:55,480
Speaker 4: We met, and we started investing together. And one thing

719
00:34:55,480 --> 00:34:59,040
Speaker 4: to clarify, and this is really important because you know,

720
00:34:59,080 --> 00:35:01,239
Speaker 4: people want to get into VC, like they think, if

721
00:35:01,239 --> 00:35:02,880
Speaker 4: you don't have a million dollars, you can't do it.

722
00:35:03,320 --> 00:35:05,960
Speaker 4: But in reality, our first few checks were like ten

723
00:35:06,080 --> 00:35:10,480
Speaker 4: or fifteen K by the way, split between like five guys,

724
00:35:11,000 --> 00:35:13,520
Speaker 4: So it's like it was like literally two or three

725
00:35:13,600 --> 00:35:14,080
Speaker 4: k each.

726
00:35:14,560 --> 00:35:16,480
Speaker 3: So that's what you all came to the table, like

727
00:35:16,520 --> 00:35:17,439
Speaker 3: three thousand piece.

728
00:35:17,760 --> 00:35:24,800
Speaker 4: Yes, that's enough right now. Now, Look, if you can't

729
00:35:25,120 --> 00:35:27,520
Speaker 4: make slash save enough to make two or three K,

730
00:35:27,560 --> 00:35:31,399
Speaker 4: you're not ready. But if you're not bullshitting and you're

731
00:35:31,440 --> 00:35:34,560
Speaker 4: serious about your shit, you can stack two K, two

732
00:35:34,680 --> 00:35:35,120
Speaker 4: or three K.

733
00:35:35,400 --> 00:35:37,440
Speaker 2: So five of you come up with three thousand.

734
00:35:37,480 --> 00:35:38,160
Speaker 3: You got fifteen.

735
00:35:38,320 --> 00:35:40,839
Speaker 4: We put together fifteen and then what's the vision now?

736
00:35:41,040 --> 00:35:44,080
Speaker 4: And then and then it's like all right, bet, now

737
00:35:44,360 --> 00:35:47,920
Speaker 4: where do we put it? You know? And so the

738
00:35:48,080 --> 00:35:51,800
Speaker 4: quality of your deal flow increases over time. But at first,

739
00:35:51,880 --> 00:35:55,080
Speaker 4: you know, we caught word of a local cafe that

740
00:35:55,280 --> 00:35:57,520
Speaker 4: was looking for money. Cool, We put a little bit

741
00:35:57,520 --> 00:35:59,640
Speaker 4: of bread into that, got to experience what it was

742
00:35:59,719 --> 00:36:03,160
Speaker 4: like to be invested in small business. We caught word

743
00:36:03,200 --> 00:36:05,920
Speaker 4: of a dental practice, a guy that was buying in

744
00:36:06,000 --> 00:36:09,759
Speaker 4: dental practice is looking for money. Boom, you know, because

745
00:36:09,800 --> 00:36:12,160
Speaker 4: you start communicating y'all'm looking for businesses to invest in.

746
00:36:12,239 --> 00:36:14,560
Speaker 4: You do get deal flow back. You put it out

747
00:36:14,560 --> 00:36:17,680
Speaker 4: and you start getting deal flow back. We caught word

748
00:36:17,719 --> 00:36:19,600
Speaker 4: of a venture company, and so we invested in a

749
00:36:19,680 --> 00:36:21,240
Speaker 4: couple of different a few different assets.

750
00:36:21,800 --> 00:36:23,799
Speaker 2: The initial fifteen nohere gross as we go.

751
00:36:24,239 --> 00:36:27,560
Speaker 4: So it was like we did capital calls, which is like, hey,

752
00:36:28,040 --> 00:36:29,799
Speaker 4: we found a deal, it's time to put bread up.

753
00:36:30,480 --> 00:36:32,200
Speaker 4: So that's a capital call, and you hit the whole group.

754
00:36:32,239 --> 00:36:34,600
Speaker 4: Between all the five of you, there was like six six,

755
00:36:35,160 --> 00:36:36,000
Speaker 4: there was like six all right.

756
00:36:36,040 --> 00:36:37,720
Speaker 5: So now it's like, okay, we put the first fifteen,

757
00:36:37,880 --> 00:36:39,839
Speaker 5: and you have to put five more in each.

758
00:36:40,360 --> 00:36:42,520
Speaker 4: Yeah, I mean five was a lot for me at

759
00:36:42,520 --> 00:36:45,239
Speaker 4: the time, but like you know, it was like, hey,

760
00:36:45,280 --> 00:36:48,160
Speaker 4: we found a deal, who can put what was really

761
00:36:48,239 --> 00:36:50,799
Speaker 4: the question? And like if I was more liquid at

762
00:36:50,840 --> 00:36:52,719
Speaker 4: that time and really liked the deal, I might have

763
00:36:52,800 --> 00:36:55,200
Speaker 4: put four. And then we might have had a partner

764
00:36:55,200 --> 00:36:56,919
Speaker 4: who was like, yoh, I can only put one right now,

765
00:36:57,360 --> 00:37:00,720
Speaker 4: and so it would vary and so yeah, over time.

766
00:37:01,200 --> 00:37:01,400
Speaker 2: You know.

767
00:37:01,480 --> 00:37:03,720
Speaker 4: The interesting thing, and this is credit to my partners

768
00:37:03,760 --> 00:37:07,520
Speaker 4: at harm Capital, is like we always treated twenty five

769
00:37:07,640 --> 00:37:12,879
Speaker 4: k like it was twenty five million. And now we've

770
00:37:12,920 --> 00:37:15,799
Speaker 4: closed on twenty five million. So you know, so it's

771
00:37:15,840 --> 00:37:19,920
Speaker 4: just crazy because you got to treat the baby step

772
00:37:20,080 --> 00:37:21,960
Speaker 4: with as much respect as the end goal.

773
00:37:22,160 --> 00:37:23,839
Speaker 5: So how did you all right, how did that work out?

774
00:37:23,880 --> 00:37:26,399
Speaker 5: As far as the first early like look at even

775
00:37:26,440 --> 00:37:28,160
Speaker 5: the first deal that you had a dentist office or

776
00:37:28,160 --> 00:37:30,480
Speaker 5: the bakery. You gave him like what like five thousand

777
00:37:30,520 --> 00:37:32,040
Speaker 5: dollars something like that or yeah.

778
00:37:32,120 --> 00:37:34,359
Speaker 4: So, so the way the actual mechanics is, I know

779
00:37:35,239 --> 00:37:39,040
Speaker 4: Yl likes to get into that is so the way

780
00:37:39,040 --> 00:37:41,800
Speaker 4: you do it is you form an LLC. Okay, okay,

781
00:37:41,920 --> 00:37:45,319
Speaker 4: and so each of the partners become members in that LLC.

782
00:37:45,719 --> 00:37:49,040
Speaker 4: You name that shit whatever you want. And yeah, so

783
00:37:49,080 --> 00:37:51,399
Speaker 4: it ends up being what we call an SPV, which

784
00:37:51,440 --> 00:37:54,320
Speaker 4: is a special purpose vehicle, which is pretty much fancy

785
00:37:54,320 --> 00:37:58,560
Speaker 4: talk for saying like, hey, anytime we invest in said company,

786
00:37:58,600 --> 00:38:01,839
Speaker 4: it's gonna come through this entity, right, And the LLC

787
00:38:02,160 --> 00:38:05,760
Speaker 4: is a fascinating legal entity because it's a flow through entity.

788
00:38:06,280 --> 00:38:09,279
Speaker 4: So it's like you become members in that and like

789
00:38:09,760 --> 00:38:14,000
Speaker 4: you on the company, Let's say we invest in you know,

790
00:38:14,040 --> 00:38:18,240
Speaker 4: the cafe on that company's docs, on the formation documents

791
00:38:18,239 --> 00:38:21,760
Speaker 4: for that company, they're going to see Harlem Capital Partners

792
00:38:21,960 --> 00:38:25,719
Speaker 4: LLC on there. But then you know, if we make

793
00:38:25,760 --> 00:38:29,920
Speaker 4: a profit or a loss, the profits and or losses

794
00:38:29,960 --> 00:38:33,080
Speaker 4: from that entity flows through to each of the individual partners.

795
00:38:33,400 --> 00:38:36,960
Speaker 4: So it's really just like a like a shield. It's

796
00:38:37,000 --> 00:38:40,000
Speaker 4: like a step step away, it's removed. So anyway you

797
00:38:40,040 --> 00:38:43,600
Speaker 4: make an LLC, you invite whomever for anyone listening who

798
00:38:43,640 --> 00:38:46,120
Speaker 4: wants to create a little syndicate, that's what you call it,

799
00:38:46,480 --> 00:38:50,360
Speaker 4: an angel syndicate. You invite homies that you think are serious,

800
00:38:50,560 --> 00:38:53,040
Speaker 4: you join the LLC, you brand it, come up with

801
00:38:53,080 --> 00:38:55,840
Speaker 4: a cool name, and then you start communicating it to

802
00:38:55,880 --> 00:38:57,720
Speaker 4: the world at large that you're looking to invest.

803
00:38:58,360 --> 00:39:01,920
Speaker 2: And this episode is brought to you by P and

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815
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821
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834
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835
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839
00:41:10,200 --> 00:41:13,719
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840
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841
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847
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848
00:41:42,320 --> 00:41:43,200
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849
00:41:43,520 --> 00:41:47,880
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850
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851
00:41:50,640 --> 00:41:52,960
Speaker 4: You know, and then you look for deal flow and

852
00:41:53,000 --> 00:41:54,400
Speaker 4: that's you know that's how it works, and so we

853
00:41:54,440 --> 00:41:56,839
Speaker 4: would put ten k, and then I think we ended

854
00:41:56,920 --> 00:42:00,960
Speaker 4: up doing like six deals as angels, ten, fifteen, twenty

855
00:42:01,000 --> 00:42:03,120
Speaker 4: if it was a hot deal ten if I was

856
00:42:03,440 --> 00:42:08,560
Speaker 4: low on cash, and like, man, it's not really about

857
00:42:09,040 --> 00:42:10,960
Speaker 4: we haven't seen a dollar, by the way, from any

858
00:42:10,960 --> 00:42:15,239
Speaker 4: of the Angel investments we've made. In fact, we've lost money. Okay, yeah,

859
00:42:15,560 --> 00:42:18,719
Speaker 4: the cafe closed down. You know, we've seen some distributions

860
00:42:18,760 --> 00:42:20,520
Speaker 4: from the dental practice, but not really a lot of

861
00:42:20,520 --> 00:42:23,320
Speaker 4: stuff doesn't work out according to plan. But the most

862
00:42:23,360 --> 00:42:27,839
Speaker 4: important thing is being on the ride. Like I don't

863
00:42:27,840 --> 00:42:30,279
Speaker 4: listen to anyone in business who hasn't lost more money

864
00:42:30,320 --> 00:42:34,680
Speaker 4: than me. Like, you gotta get skin in the game.

865
00:42:34,719 --> 00:42:36,239
Speaker 4: I can't take you serious if you don't have skin

866
00:42:36,360 --> 00:42:40,080
Speaker 4: in the game. Like like you guys got cameras, you

867
00:42:40,120 --> 00:42:41,720
Speaker 4: got mics.

868
00:42:41,120 --> 00:42:44,239
Speaker 5: A lot of money, this would have worked out.

869
00:42:44,480 --> 00:42:46,799
Speaker 4: Like you know, you got the focus, right, you got

870
00:42:46,800 --> 00:42:48,279
Speaker 4: the mac put like you know what I'm saying, Like

871
00:42:48,320 --> 00:42:50,440
Speaker 4: you guys are putting bread in. You put bread up

872
00:42:50,480 --> 00:42:54,279
Speaker 4: to buy the shirts. You're putting bread in, right, and

873
00:42:54,280 --> 00:42:57,120
Speaker 4: and so anyway, with the Angel investing thing, it's a

874
00:42:57,120 --> 00:42:59,920
Speaker 4: lot more important to get in the game and you

875
00:43:00,200 --> 00:43:01,880
Speaker 4: will not know. This is why at the beginning you

876
00:43:01,880 --> 00:43:03,359
Speaker 4: asked me, like, yo, if I got any book tips,

877
00:43:03,360 --> 00:43:04,960
Speaker 4: and I said, I don't really fuck with books, because

878
00:43:05,280 --> 00:43:08,879
Speaker 4: you will not know what acid class you like until

879
00:43:08,920 --> 00:43:11,680
Speaker 4: you invest in it. I thought I loved investing in

880
00:43:11,760 --> 00:43:13,880
Speaker 4: small business, and then I discovered I really don't like

881
00:43:13,920 --> 00:43:16,080
Speaker 4: this shit because when I was meeting with the business owners,

882
00:43:16,120 --> 00:43:18,359
Speaker 4: we were talking about napkins and forks, and I'm like, dude,

883
00:43:19,000 --> 00:43:21,040
Speaker 4: you know I want to talk about scale, and you know,

884
00:43:21,239 --> 00:43:25,440
Speaker 4: like this just wasn't wasn't for me. I discovered that

885
00:43:25,520 --> 00:43:27,840
Speaker 4: I like real estate a lot. I love real estate.

886
00:43:28,200 --> 00:43:30,200
Speaker 4: I wouldn't have known that unless I jumped in. So

887
00:43:30,239 --> 00:43:31,960
Speaker 4: I'm a really big fan of jumping in. And if

888
00:43:32,000 --> 00:43:33,880
Speaker 4: you can't jump in a big scale, you jumping in

889
00:43:33,880 --> 00:43:37,040
Speaker 4: a small scale. Just jump in. So how does that work.

890
00:43:36,880 --> 00:43:39,080
Speaker 2: When it's six of you right as far as decisions,

891
00:43:39,400 --> 00:43:41,799
Speaker 2: is it like majority or if it's like you know what,

892
00:43:41,920 --> 00:43:43,680
Speaker 2: you don't like it, you're just not part of this deal.

893
00:43:43,880 --> 00:43:46,359
Speaker 4: Yeah, So it has changed over time. So when we

894
00:43:46,360 --> 00:43:49,880
Speaker 4: were an angel syndicate, it was like, hey, are you interested?

895
00:43:50,000 --> 00:43:53,520
Speaker 4: Some folks might have said no, but also you know,

896
00:43:53,560 --> 00:43:56,080
Speaker 4: going back to this business is really a people first thing.

897
00:43:56,560 --> 00:43:58,600
Speaker 4: You know, it's also respect for your partners, because your

898
00:43:58,600 --> 00:44:01,160
Speaker 4: partner might find a good deal and you know, might

899
00:44:01,160 --> 00:44:03,839
Speaker 4: have gotten in a good rapport with that founder and

900
00:44:03,880 --> 00:44:06,920
Speaker 4: then two months in it's time to invest, and like,

901
00:44:07,360 --> 00:44:09,360
Speaker 4: you know, I want to support the fact that my

902
00:44:09,440 --> 00:44:12,000
Speaker 4: partner is excited about this deal and I'm gonna put

903
00:44:12,120 --> 00:44:14,239
Speaker 4: I'm not gonna step up big. I might put up

904
00:44:14,280 --> 00:44:17,040
Speaker 4: a thousand and be like yo, all right, cool, you know,

905
00:44:17,400 --> 00:44:21,120
Speaker 4: put that in the deal. Conversely, when it's a hot deal,

906
00:44:21,200 --> 00:44:24,359
Speaker 4: when it's by the way, hot deals, you're not they're

907
00:44:24,400 --> 00:44:27,919
Speaker 4: not pitching you, you're pitching them to get in. Hot

908
00:44:27,920 --> 00:44:32,120
Speaker 4: deals are oversubscribed, meaning a company typically will raise a

909
00:44:32,160 --> 00:44:36,359
Speaker 4: finite amount of capital that's what we call around at

910
00:44:36,400 --> 00:44:40,000
Speaker 4: a fixed evaluation. Okay, so they'll say, hey, I'm raising

911
00:44:40,120 --> 00:44:43,000
Speaker 4: one point five million dollars at an eight million dollar valuation,

912
00:44:43,400 --> 00:44:45,680
Speaker 4: i e. They're giving away twenty percent of the company.

913
00:44:46,320 --> 00:44:49,520
Speaker 4: And then if it's a hot deal, you get good

914
00:44:49,920 --> 00:44:55,799
Speaker 4: funds in investing and so like a fund you know,

915
00:44:55,960 --> 00:44:59,799
Speaker 4: is like for anyone maybe doesn't know, is like you know,

916
00:45:00,320 --> 00:45:03,240
Speaker 4: entrepreneurs who go out there and raise money from the market,

917
00:45:03,400 --> 00:45:07,600
Speaker 4: you know, in institutions and Dowmons shit like that, and

918
00:45:07,719 --> 00:45:09,920
Speaker 4: you know they have a great brand name. And over time,

919
00:45:10,040 --> 00:45:14,080
Speaker 4: especially from Silicon Valley, you've had prestige funds emerge. These

920
00:45:14,120 --> 00:45:16,480
Speaker 4: are funds that have proven track record that they know

921
00:45:16,520 --> 00:45:22,080
Speaker 4: how to spot winners Sequoia, Benchmark, Kleiner Perkins whenever you

922
00:45:22,160 --> 00:45:24,799
Speaker 4: see them on the cap table. The cap table is

923
00:45:24,920 --> 00:45:28,880
Speaker 4: short for capitalization table, which is the page on your

924
00:45:28,960 --> 00:45:32,920
Speaker 4: company's documents that shows who owns what. And so the

925
00:45:32,960 --> 00:45:35,880
Speaker 4: cap table, you'll see a list and it'll say NAS

926
00:45:36,040 --> 00:45:40,200
Speaker 4: invested fifty k owns two. Yeah, and so he also

927
00:45:40,200 --> 00:45:42,759
Speaker 4: invests an angel, you know, such and such invested this,

928
00:45:43,040 --> 00:45:45,239
Speaker 4: So the cap table. So we have this thing in VC.

929
00:45:45,440 --> 00:45:48,000
Speaker 4: You want to be on cap tables. You know, like

930
00:45:48,040 --> 00:45:49,839
Speaker 4: a lot of motherfuckers talking shit, But I never see

931
00:45:49,840 --> 00:45:52,360
Speaker 4: you on the cap table. You know, you might be

932
00:45:52,360 --> 00:45:53,960
Speaker 4: at the club table, but I se you at the

933
00:45:53,960 --> 00:45:54,480
Speaker 4: cat table.

934
00:45:54,480 --> 00:45:55,320
Speaker 3: They at the crap table.

935
00:45:55,440 --> 00:46:03,440
Speaker 4: Yeah right right, so that's good on the table. So

936
00:46:03,440 --> 00:46:09,400
Speaker 4: so so anyway, Yeah, when you see a marquee fund,

937
00:46:09,600 --> 00:46:11,560
Speaker 4: meaning a top fund on the cap table, it's a

938
00:46:11,560 --> 00:46:14,880
Speaker 4: competitive deal. That founder has options and we were fortunate

939
00:46:15,000 --> 00:46:17,879
Speaker 4: a couple of times to squeeze into a very competitive deal.

940
00:46:18,640 --> 00:46:21,080
Speaker 4: And in those deals, when a deal is hot, you

941
00:46:21,120 --> 00:46:23,440
Speaker 4: want to make sure you as much as it costs you.

942
00:46:23,480 --> 00:46:25,320
Speaker 4: I don't care if you got to pawn your fucking watch,

943
00:46:26,080 --> 00:46:28,040
Speaker 4: get in the deal in as big of a way

944
00:46:28,080 --> 00:46:30,360
Speaker 4: as you can. You might lose that money. I'm not

945
00:46:30,360 --> 00:46:33,280
Speaker 4: gonna lie. But when you can get a good amount

946
00:46:33,320 --> 00:46:36,880
Speaker 4: of exposure into that deal, you know those deals that

947
00:46:36,960 --> 00:46:38,319
Speaker 4: end up doing ten twenty x.

948
00:46:39,200 --> 00:46:41,000
Speaker 3: I'm gonna ask you a question for some good deals

949
00:46:41,560 --> 00:46:42,319
Speaker 3: before I forget this.

950
00:46:42,600 --> 00:46:44,480
Speaker 5: The reason the reason why I like this podcast is

951
00:46:44,480 --> 00:46:46,279
Speaker 5: that we get to interview people and nobody. Like the

952
00:46:46,360 --> 00:46:48,200
Speaker 5: last guest that we had was talking about stock Shot

953
00:46:48,280 --> 00:46:51,600
Speaker 5: the Wallshet Trapper and he was saying how it is

954
00:46:51,680 --> 00:46:53,839
Speaker 5: excites him and like you I could see like it's

955
00:46:53,880 --> 00:46:55,160
Speaker 5: like you seen paid in full before.

956
00:46:55,280 --> 00:46:58,880
Speaker 4: Yeah, okay, so so and.

957
00:46:58,960 --> 00:47:00,479
Speaker 3: Mitch he was like, I love a game.

958
00:47:00,840 --> 00:47:03,560
Speaker 5: Obviously he was somebody illegal game, but business is like

959
00:47:03,600 --> 00:47:05,120
Speaker 5: a it's like a competitive sport.

960
00:47:05,320 --> 00:47:05,560
Speaker 4: Yep.

961
00:47:05,640 --> 00:47:08,480
Speaker 5: So it's like that's what I really loved. Like even

962
00:47:08,480 --> 00:47:10,440
Speaker 5: with Steve Jobs when he said that it's the process

963
00:47:10,440 --> 00:47:11,440
Speaker 5: that really excites.

964
00:47:11,160 --> 00:47:12,640
Speaker 3: Him, not even getting it.

965
00:47:12,880 --> 00:47:15,560
Speaker 5: Is not the journey, and it's like for people I

966
00:47:15,560 --> 00:47:18,160
Speaker 5: really want everybody to understand, even like with the podcast,

967
00:47:18,200 --> 00:47:21,000
Speaker 5: it's like it's ups and downs, but it's an exciting

968
00:47:21,120 --> 00:47:23,200
Speaker 5: rise and I could tell it. I could see the

969
00:47:23,239 --> 00:47:25,440
Speaker 5: excitement when you're telling a story, and it's like for

970
00:47:25,520 --> 00:47:29,880
Speaker 5: people that have never been entrepreneurs, I just encourage.

971
00:47:29,520 --> 00:47:30,800
Speaker 3: Just to have that feeling.

972
00:47:31,280 --> 00:47:31,520
Speaker 4: Yeah.

973
00:47:31,560 --> 00:47:33,080
Speaker 3: Man, it's like a natural.

974
00:47:33,680 --> 00:47:34,879
Speaker 4: The feeling is everything, bro.

975
00:47:35,000 --> 00:47:36,360
Speaker 3: But I wanted to Askual you, so, how do you all?

976
00:47:36,440 --> 00:47:36,560
Speaker 4: Right?

977
00:47:36,600 --> 00:47:38,480
Speaker 5: So you started as angel investors and you said that

978
00:47:38,480 --> 00:47:40,239
Speaker 5: didn't really work out for you guys for the most part,

979
00:47:40,280 --> 00:47:41,040
Speaker 5: it wasn't profitable.

980
00:47:41,560 --> 00:47:44,160
Speaker 4: Yeah, I mean so, so one thing to know is

981
00:47:44,200 --> 00:47:47,200
Speaker 4: like when you make an angel investment, the yield curve

982
00:47:47,360 --> 00:47:50,640
Speaker 4: on it, meaning the amount of time with which you're

983
00:47:50,640 --> 00:47:53,800
Speaker 4: expected to make anything back, if at all, is typically

984
00:47:53,840 --> 00:47:56,840
Speaker 4: seven to nine years, because that's the average life cycle

985
00:47:56,880 --> 00:47:58,839
Speaker 4: of a business. And so when I say we haven't

986
00:47:58,880 --> 00:48:02,759
Speaker 4: made any money, it's like chance for sure. And we're

987
00:48:02,800 --> 00:48:05,439
Speaker 4: in some companies that we're expecting to make some money back.

988
00:48:06,239 --> 00:48:10,280
Speaker 4: But like I quickly found out, like it's funny because

989
00:48:10,560 --> 00:48:13,040
Speaker 4: you know I'm making you know, we're making deals and

990
00:48:13,080 --> 00:48:15,319
Speaker 4: every time we make a deal. We announced that deal,

991
00:48:15,320 --> 00:48:18,080
Speaker 4: and so my social was blowing up, Yo, your angel

992
00:48:18,080 --> 00:48:22,040
Speaker 4: invest I'm like yeah, yeah, you know, and then I'm like, fuck,

993
00:48:22,320 --> 00:48:26,319
Speaker 4: I'm not seeing any money, Like it just literally feels

994
00:48:26,360 --> 00:48:29,520
Speaker 4: like you're just like your money's just disappearing because it

995
00:48:29,600 --> 00:48:33,160
Speaker 4: goes to work. And then what happens for anyone who

996
00:48:33,200 --> 00:48:36,160
Speaker 4: doesn't know how you make money adventure? You only make

997
00:48:36,239 --> 00:48:42,080
Speaker 4: money adventure on a liquidation event, which is the company

998
00:48:42,160 --> 00:48:45,960
Speaker 4: is sold. You do not, contrary to small business investing,

999
00:48:46,000 --> 00:48:49,600
Speaker 4: if you invest in an ice cream shop, barbershop, restaurant, whatever,

1000
00:48:50,120 --> 00:48:52,920
Speaker 4: you're yielding profits, so you have a profit split.

1001
00:48:53,200 --> 00:48:56,880
Speaker 2: Because the example would be like when nas Or in

1002
00:48:56,680 --> 00:48:59,399
Speaker 2: his firm invest in ring and the ring gets put

1003
00:48:59,480 --> 00:49:00,920
Speaker 2: by Amazon or.

1004
00:49:00,920 --> 00:49:05,240
Speaker 4: Pill pack correct right, pill pack. So if you invest

1005
00:49:05,239 --> 00:49:08,560
Speaker 4: in a restaurant, you're making quarterly dividends. You get cash

1006
00:49:08,560 --> 00:49:13,560
Speaker 4: flows in venture because you're typically reinvesting profits in the

1007
00:49:13,600 --> 00:49:17,120
Speaker 4: business because growth and profits are inversely correlated. If you

1008
00:49:17,160 --> 00:49:19,640
Speaker 4: want to grow, you got to sacrifice profits, and so

1009
00:49:19,680 --> 00:49:22,719
Speaker 4: it's a very different kind of investing game. So you

1010
00:49:22,760 --> 00:49:25,919
Speaker 4: don't invest in a startup with the pretense that you're

1011
00:49:25,920 --> 00:49:29,720
Speaker 4: going to get profits. You would be hurting that business.

1012
00:49:30,080 --> 00:49:33,359
Speaker 4: So the trick is jumping in and getting in early

1013
00:49:33,400 --> 00:49:36,440
Speaker 4: at a nice valuation. On average, we invest in businesses

1014
00:49:37,800 --> 00:49:39,960
Speaker 4: along the businesses that are coming from the Midwest are

1015
00:49:40,000 --> 00:49:43,120
Speaker 4: on average valued between four to six million inventure, and

1016
00:49:43,200 --> 00:49:46,000
Speaker 4: businesses along the coast are valued between eight to ten million.

1017
00:49:46,880 --> 00:49:49,960
Speaker 4: So now eighty percent of m and A, which is

1018
00:49:50,040 --> 00:49:53,239
Speaker 4: mergers and acquisitions, are happening right now between the one

1019
00:49:53,280 --> 00:49:55,600
Speaker 4: hundred and fifty to two hundred million dollars price point.

1020
00:49:56,000 --> 00:49:59,120
Speaker 4: Like Gimblet Media got acquired for two hundred million by

1021
00:49:59,120 --> 00:50:01,400
Speaker 4: Spotify or whatever. If I would have gotten into give

1022
00:50:01,440 --> 00:50:03,440
Speaker 4: them media when there were worth ten million, you do

1023
00:50:03,480 --> 00:50:04,960
Speaker 4: the math on that. You get in at ten, they

1024
00:50:04,960 --> 00:50:07,600
Speaker 4: get sold that two hundred whoop. You know you got

1025
00:50:07,600 --> 00:50:10,399
Speaker 4: a twenty x. So what money did you put into

1026
00:50:10,400 --> 00:50:12,440
Speaker 4: that deal? You know, if you put in one hundred,

1027
00:50:12,600 --> 00:50:14,799
Speaker 4: that'll tell you what you net at the back end.

1028
00:50:15,000 --> 00:50:18,560
Speaker 4: So anyway, I'm just clarifying how you actually make money

1029
00:50:18,600 --> 00:50:21,600
Speaker 4: and venture. You get in into the sweet spot and

1030
00:50:21,640 --> 00:50:24,439
Speaker 4: then that business grows and if you're fortunate, it gets

1031
00:50:24,480 --> 00:50:26,560
Speaker 4: acquired and then you net.

1032
00:50:26,920 --> 00:50:31,000
Speaker 2: What's the difference between the valuation of cities out of

1033
00:50:31,040 --> 00:50:32,560
Speaker 2: Inland and the ones against the coast.

1034
00:50:32,640 --> 00:50:36,960
Speaker 4: That's a great question. And the real reason that businesses

1035
00:50:36,960 --> 00:50:39,960
Speaker 4: are priced differently based on geographies is due to cost

1036
00:50:40,000 --> 00:50:43,440
Speaker 4: of living. Okay, so like businesses make, you might make

1037
00:50:43,480 --> 00:50:46,960
Speaker 4: more as an individual in New York, and so as

1038
00:50:46,960 --> 00:50:50,280
Speaker 4: a result, employees are more expensive, offices are worth more

1039
00:50:50,400 --> 00:50:53,440
Speaker 4: and so, and there's also more capital in that market,

1040
00:50:53,480 --> 00:50:55,920
Speaker 4: and so you can usually justify a higher price point,

1041
00:50:56,160 --> 00:50:58,759
Speaker 4: whereas I love investing in businesses from the Midwest because

1042
00:50:58,760 --> 00:51:01,840
Speaker 4: they're reasonably priced. In fact, they say this is a nugget.

1043
00:51:02,160 --> 00:51:05,880
Speaker 4: Vcs say that the actual valuation, the true valuation of

1044
00:51:05,920 --> 00:51:08,680
Speaker 4: a business is the Midwest valuation, and then when you

1045
00:51:08,719 --> 00:51:11,400
Speaker 4: go out to the coast, you get inflated because when

1046
00:51:11,400 --> 00:51:13,760
Speaker 4: you're in Silicon Valley, those motherfuckers will pay any price

1047
00:51:13,760 --> 00:51:17,799
Speaker 4: for any business. And so we actually rarely invested. We

1048
00:51:17,840 --> 00:51:20,120
Speaker 4: haven't invested in a single business from the valley because

1049
00:51:20,160 --> 00:51:22,600
Speaker 4: by the time they come to us, they're like, oh, yeah,

1050
00:51:22,600 --> 00:51:24,880
Speaker 4: we're worth twenty million dollars. I'm like, show me a revenue.

1051
00:51:24,880 --> 00:51:27,520
Speaker 4: They got one hundred k revenue. I ain't paying twenty

1052
00:51:27,520 --> 00:51:30,919
Speaker 4: million for one hundred k and revenue, So like there's

1053
00:51:31,040 --> 00:51:33,160
Speaker 4: one thing to know as well is like there's actual

1054
00:51:33,280 --> 00:51:38,480
Speaker 4: different investment climates among the coasts. The West coast is

1055
00:51:38,560 --> 00:51:40,760
Speaker 4: very like, Yo, we're looking at scale by any means,

1056
00:51:41,080 --> 00:51:43,400
Speaker 4: and the East coast is a little bit more like conservative,

1057
00:51:43,440 --> 00:51:45,840
Speaker 4: We're looking for revenue and a little bit more modest growth,

1058
00:51:46,600 --> 00:51:47,200
Speaker 4: but revenue.

1059
00:51:47,239 --> 00:51:49,400
Speaker 3: How did you go from being angels to having like

1060
00:51:49,440 --> 00:51:50,080
Speaker 3: a VC.

1061
00:51:50,200 --> 00:51:53,719
Speaker 4: Add to the question, right, So, and we get this

1062
00:51:53,760 --> 00:51:55,200
Speaker 4: a lot because people say, yeah, I want to break

1063
00:51:55,200 --> 00:51:58,240
Speaker 4: into VC. Well, there's a number of ways. You Either

1064
00:52:00,560 --> 00:52:03,480
Speaker 4: work at a venture firm, good luck breaking into one,

1065
00:52:03,560 --> 00:52:07,520
Speaker 4: they're very exclusive, or like the path that we took,

1066
00:52:07,640 --> 00:52:10,239
Speaker 4: we started as angels and eventually, once you have enough

1067
00:52:10,280 --> 00:52:13,200
Speaker 4: of a track record you can you can go out

1068
00:52:13,239 --> 00:52:16,240
Speaker 4: to the market as a whole and say, hey, here's

1069
00:52:16,280 --> 00:52:19,799
Speaker 4: my thesis, Like, here's my idea. And it could be

1070
00:52:20,000 --> 00:52:21,960
Speaker 4: like our ship is around investing in the you know,

1071
00:52:22,000 --> 00:52:25,560
Speaker 4: diverse founders, like we invest in women and minorities. But

1072
00:52:25,600 --> 00:52:27,440
Speaker 4: that doesn't have to be your thesis. Your thesis could

1073
00:52:27,440 --> 00:52:29,560
Speaker 4: be around sports. Your thesis could be around music. Yo,

1074
00:52:29,640 --> 00:52:32,600
Speaker 4: I want to create a fund that invests in you know,

1075
00:52:32,760 --> 00:52:39,440
Speaker 4: music companies, sports companies, sewage, you name it, and the

1076
00:52:39,440 --> 00:52:41,160
Speaker 4: the true test of whether you can raise a fund

1077
00:52:41,239 --> 00:52:42,759
Speaker 4: or not is if you can convince enough people to

1078
00:52:42,800 --> 00:52:45,320
Speaker 4: believe in your ship. And what I found out raising

1079
00:52:45,400 --> 00:52:51,000
Speaker 4: money is there's a lot of motherfuckers with money for wealth.

1080
00:52:51,320 --> 00:52:55,040
Speaker 2: You said you said that the founding the coal is

1081
00:52:55,400 --> 00:52:58,279
Speaker 2: to invest in a thousand companies over the next twenty years, right, sir,

1082
00:52:58,400 --> 00:52:59,800
Speaker 2: So that would mean like fifty companies.

1083
00:53:00,040 --> 00:53:00,560
Speaker 4: Is that the goal?

1084
00:53:00,600 --> 00:53:01,640
Speaker 2: Like you're doing fifty companies.

1085
00:53:01,640 --> 00:53:05,040
Speaker 4: We're just we're doing a thousand founders over twenty years.

1086
00:53:05,480 --> 00:53:07,760
Speaker 4: So like if we invest in one company as four founders,

1087
00:53:07,800 --> 00:53:10,239
Speaker 4: we're counting that as fourka. But yeah, the way our

1088
00:53:10,280 --> 00:53:14,680
Speaker 4: fund model is structure. Right now, we're looking at doing uh,

1089
00:53:15,280 --> 00:53:19,680
Speaker 4: you know, thirty deals out of this first fund and

1090
00:53:19,719 --> 00:53:22,000
Speaker 4: then you know it'll accelerate, so it's not very linear.

1091
00:53:22,040 --> 00:53:24,160
Speaker 4: It's like our first fund might be twenty five to

1092
00:53:24,160 --> 00:53:26,680
Speaker 4: forty million, our second fund is going to be one

1093
00:53:26,760 --> 00:53:29,840
Speaker 4: hundred million, then court you know, then quarter billion and

1094
00:53:29,880 --> 00:53:31,560
Speaker 4: then a billion. You know, we're you know, we're thinking

1095
00:53:31,560 --> 00:53:31,960
Speaker 4: pretty big.

1096
00:53:32,320 --> 00:53:34,719
Speaker 5: So it's our relationship people. You build relationship people when

1097
00:53:34,719 --> 00:53:35,719
Speaker 5: they invest in your fund.

1098
00:53:36,120 --> 00:53:40,880
Speaker 4: Yep, that's right, the same way that entrepreneurs are asking

1099
00:53:40,960 --> 00:53:43,359
Speaker 4: for money we're doing the same shit, okay. And so

1100
00:53:43,400 --> 00:53:45,880
Speaker 4: the biggest misconception, like when we close our fund and

1101
00:53:45,920 --> 00:53:47,799
Speaker 4: we make the announcement, I think it's gonna make a

1102
00:53:47,840 --> 00:53:51,000
Speaker 4: very big splash because we're gonna be like, you know,

1103
00:53:51,080 --> 00:53:54,399
Speaker 4: young of color, and I think we we're gonna raise

1104
00:53:54,400 --> 00:53:58,280
Speaker 4: a considerable amount. People are gonna look at the headline

1105
00:53:58,280 --> 00:54:03,640
Speaker 4: and automatically think that we're it's our bread, okay, full disclosure,

1106
00:54:04,000 --> 00:54:06,560
Speaker 4: not our It's very important that.

1107
00:54:06,560 --> 00:54:08,879
Speaker 5: A lot of times people the ANGEL in the VC,

1108
00:54:09,000 --> 00:54:10,400
Speaker 5: they kind of get that mix and they think, if

1109
00:54:10,440 --> 00:54:12,799
Speaker 5: you have a VC firm, all of that money is

1110
00:54:12,840 --> 00:54:14,120
Speaker 5: your money that you're putting up.

1111
00:54:14,239 --> 00:54:16,319
Speaker 4: Yeah, and if you want so, I'll just break this

1112
00:54:16,400 --> 00:54:19,799
Speaker 4: down quickly. The fund model. All right, this is how

1113
00:54:19,840 --> 00:54:22,799
Speaker 4: you make money. When you cross over from ANGEL to VC.

1114
00:54:23,840 --> 00:54:26,200
Speaker 4: You get paid on what's called the two and twenty.

1115
00:54:26,360 --> 00:54:30,560
Speaker 4: That's the fee structure. So the two refers to your

1116
00:54:30,680 --> 00:54:34,360
Speaker 4: management fee. So whatever the total size of your fund is,

1117
00:54:34,440 --> 00:54:36,000
Speaker 4: this is why your INCENTIVI is to go for a

1118
00:54:36,000 --> 00:54:38,880
Speaker 4: big fund. Whatever the total size of that fund is,

1119
00:54:39,280 --> 00:54:43,239
Speaker 4: two percent of that annually is what you make as

1120
00:54:43,320 --> 00:54:46,120
Speaker 4: your fee. So on a twenty five million dollar fund,

1121
00:54:46,360 --> 00:54:49,239
Speaker 4: two percent of that is five hundred grand. So you

1122
00:54:49,280 --> 00:54:56,160
Speaker 4: get five hundred grand every year to pay for a salary, office, travel, everything. Now,

1123
00:54:56,880 --> 00:54:58,920
Speaker 4: if you know, with a team of four in office

1124
00:54:58,960 --> 00:55:00,839
Speaker 4: and stuff like that, like you know, you might make

1125
00:55:00,880 --> 00:55:03,759
Speaker 4: one hundred g's on salary. Like that's nice, but you're

1126
00:55:03,800 --> 00:55:06,160
Speaker 4: not gonna get rich off of that. You're not meant

1127
00:55:06,160 --> 00:55:08,480
Speaker 4: to get rich off of that. The LP, there's two

1128
00:55:08,560 --> 00:55:10,400
Speaker 4: kinds of partners in the fund. There's the GP, the

1129
00:55:10,480 --> 00:55:12,640
Speaker 4: general partner, which is the partner's putting in the work,

1130
00:55:12,920 --> 00:55:14,960
Speaker 4: and then there's the LP's a limited partner, this person

1131
00:55:15,000 --> 00:55:18,400
Speaker 4: who's investing. So your LPs do not want you to

1132
00:55:18,400 --> 00:55:20,560
Speaker 4: get rich off the fees because then you would never work.

1133
00:55:21,080 --> 00:55:23,520
Speaker 4: You get rich on the other side. I remember I

1134
00:55:23,520 --> 00:55:25,600
Speaker 4: said it's two and twenty to is a management fee.

1135
00:55:26,000 --> 00:55:29,080
Speaker 4: The twenty is what we call the carry, and the

1136
00:55:29,160 --> 00:55:36,000
Speaker 4: carry is your share of the profits. So now because

1137
00:55:36,040 --> 00:55:38,200
Speaker 4: we can, because we can get into a little detail,

1138
00:55:38,239 --> 00:55:42,040
Speaker 4: I'll just explain this. Typically, you as the GP, if

1139
00:55:42,040 --> 00:55:45,080
Speaker 4: you set out to go raise a fund, your commitment

1140
00:55:45,160 --> 00:55:47,799
Speaker 4: to the fund, you put up one percent of the

1141
00:55:47,840 --> 00:55:52,400
Speaker 4: total fund. Okay, So if my partners and I are

1142
00:55:52,440 --> 00:55:55,799
Speaker 4: set out to raise as an example, twenty million. One

1143
00:55:55,840 --> 00:55:58,239
Speaker 4: percent of that is two hundred thousand, so we have

1144
00:55:58,280 --> 00:56:00,319
Speaker 4: to come up with two hundred g's across you know,

1145
00:56:00,360 --> 00:56:04,120
Speaker 4: the four of us. Okay, beat now, But here's a

1146
00:56:04,160 --> 00:56:07,680
Speaker 4: mind blowing shit. Remember I said the twenty is that

1147
00:56:07,719 --> 00:56:09,960
Speaker 4: refers to your share of the profits, which is twenty percent.

1148
00:56:10,640 --> 00:56:15,680
Speaker 4: So we're making twenty percent of the profits on twenty million.

1149
00:56:16,880 --> 00:56:19,799
Speaker 4: So it's just like, you know, I guess it might

1150
00:56:19,800 --> 00:56:22,120
Speaker 4: be complicated. It's like ingrained to me now, so it's

1151
00:56:22,160 --> 00:56:25,080
Speaker 4: not the complicated to me now, but like in a nutshell,

1152
00:56:25,680 --> 00:56:28,319
Speaker 4: you're if you can put together two hundred g's, it's

1153
00:56:28,440 --> 00:56:31,880
Speaker 4: buying you a ticket to get the profits on twenty million.

1154
00:56:33,000 --> 00:56:34,160
Speaker 3: Like, so that's two million.

1155
00:56:35,120 --> 00:56:36,719
Speaker 4: Well, it depends on how much money you make with

1156
00:56:36,760 --> 00:56:39,319
Speaker 4: the twenty million, and that's the incentive. So it's like,

1157
00:56:39,719 --> 00:56:41,640
Speaker 4: can you make this twenty million and turn it into

1158
00:56:41,640 --> 00:56:44,600
Speaker 4: one hundred million. If you do, you get twenty percent

1159
00:56:44,640 --> 00:56:47,200
Speaker 4: of that, you get twenty million million. Yea, you know.

1160
00:56:47,280 --> 00:56:49,320
Speaker 4: So it's like it gets complicated, but like.

1161
00:56:49,320 --> 00:56:51,440
Speaker 5: How can people if they want to? We're going to

1162
00:56:51,480 --> 00:56:53,040
Speaker 5: move on to the next segment, but I want to

1163
00:56:53,320 --> 00:56:57,120
Speaker 5: so if people are interested in like pitching their business.

1164
00:56:57,160 --> 00:56:59,160
Speaker 3: It's like shark Tank. How realistic is shark tank?

1165
00:57:00,760 --> 00:57:05,560
Speaker 4: Shark Tank is to angel investing what Indiana Jones is

1166
00:57:05,600 --> 00:57:05,959
Speaker 4: to our.

1167
00:57:09,360 --> 00:57:12,400
Speaker 5: So they're not coming in front of you. So how

1168
00:57:12,640 --> 00:57:16,720
Speaker 5: the Jones Indiana.

1169
00:57:19,000 --> 00:57:24,280
Speaker 4: Nothing like that ship? Yeah, so yeah, the real ways

1170
00:57:24,360 --> 00:57:27,640
Speaker 4: like people send in a pitch deck and we you know,

1171
00:57:27,720 --> 00:57:29,959
Speaker 4: and then you know, if the pitch deck looks good,

1172
00:57:30,040 --> 00:57:33,520
Speaker 4: then we'll sign apart. There's different levels of a deal screen,

1173
00:57:33,680 --> 00:57:36,560
Speaker 4: so you know, pitch deck looks good. If not, then

1174
00:57:36,600 --> 00:57:39,400
Speaker 4: we'll well, we pass pretty quick. And we see a

1175
00:57:39,400 --> 00:57:41,480
Speaker 4: thousand deals a year. We invested ten deals a year,

1176
00:57:41,560 --> 00:57:44,680
Speaker 4: so we're talking about one percent investment rate. So if

1177
00:57:44,720 --> 00:57:48,160
Speaker 4: we see a hog deal, one partner is jumping on

1178
00:57:48,160 --> 00:57:51,560
Speaker 4: the phone with that founder. Then that partner reports back

1179
00:57:51,600 --> 00:57:53,240
Speaker 4: with about a page of notes to the rest of

1180
00:57:53,280 --> 00:57:57,080
Speaker 4: the team. Yo. Cool. And then if there's interest, then

1181
00:57:57,120 --> 00:58:00,520
Speaker 4: another partner will jump in as many partners as are interested.

1182
00:58:00,560 --> 00:58:02,720
Speaker 4: Then we jump in with the full with the full team,

1183
00:58:03,000 --> 00:58:05,440
Speaker 4: we try and get a fuller team situation, and we

1184
00:58:05,560 --> 00:58:08,040
Speaker 4: learn more. We have interns, so then our interns might

1185
00:58:08,080 --> 00:58:10,520
Speaker 4: go and do market research and analyze what we can

1186
00:58:10,560 --> 00:58:14,600
Speaker 4: expect to make, and then interest grows and usually you

1187
00:58:14,680 --> 00:58:17,720
Speaker 4: have every partner leads their own deal at the fund.

1188
00:58:17,960 --> 00:58:19,960
Speaker 4: So it's all about like, yo, all right, what deals?

1189
00:58:20,040 --> 00:58:24,040
Speaker 4: What deals am I getting versus Brandon versus Jerry versus

1190
00:58:24,040 --> 00:58:27,240
Speaker 4: a reed. We're all looking for our own deals. And

1191
00:58:27,440 --> 00:58:29,560
Speaker 4: to your question about voting, we have a we have

1192
00:58:29,640 --> 00:58:33,800
Speaker 4: a conviction over consensus philosophy. Like it's not like all

1193
00:58:33,800 --> 00:58:36,120
Speaker 4: of us have to agree. It's like if someone really

1194
00:58:36,120 --> 00:58:38,560
Speaker 4: worked up about this deal, and can you get people excited?

1195
00:58:39,200 --> 00:58:41,080
Speaker 4: You're judging off the passion of one of your partners

1196
00:58:41,120 --> 00:58:44,000
Speaker 4: for sure, and their ability to defend the deal. And

1197
00:58:44,040 --> 00:58:47,320
Speaker 4: we'll test you. We'll heat check each other and grill

1198
00:58:47,360 --> 00:58:48,919
Speaker 4: each other, like, yo, I don't know if this deal

1199
00:58:48,960 --> 00:58:51,120
Speaker 4: is gonna make it. Like like I try to get

1200
00:58:51,120 --> 00:58:53,320
Speaker 4: a media deal through and I couldn't get it through.

1201
00:58:53,520 --> 00:58:55,880
Speaker 4: It got shut down because my partners were like, yo,

1202
00:58:56,600 --> 00:58:58,920
Speaker 4: you know, the media climate is really hairy right now.

1203
00:58:59,000 --> 00:59:03,280
Speaker 4: You know Vice and BuzzFeed and Refinery twenty nine. You

1204
00:59:03,280 --> 00:59:04,960
Speaker 4: know they're not doing too well and they're the big dogs,

1205
00:59:04,960 --> 00:59:07,040
Speaker 4: so how the small dogs and you just it's a

1206
00:59:07,080 --> 00:59:11,160
Speaker 4: mental game, and if you can get people excited, then

1207
00:59:12,080 --> 00:59:14,080
Speaker 4: we close the deal and we say, all right, bet

1208
00:59:14,080 --> 00:59:16,320
Speaker 4: we're gonna invest X amount and then we just wire

1209
00:59:16,320 --> 00:59:18,480
Speaker 4: them the money and then we prayers up.

1210
00:59:19,600 --> 00:59:21,680
Speaker 5: There you have it, ladies and gentlemen, one on one,

1211
00:59:21,840 --> 00:59:23,600
Speaker 5: one O three, one O four and one on five.

1212
00:59:24,600 --> 00:59:27,560
Speaker 5: That it, right, Benurecathlo and Angel Best. Going to our

1213
00:59:27,600 --> 00:59:29,680
Speaker 5: last segment. All right, So in the last segment, we're

1214
00:59:29,680 --> 00:59:30,760
Speaker 5: going to talk about something else.

1215
00:59:31,160 --> 00:59:35,680
Speaker 3: Yeah, and dear to our heart, absolutely it is media, right, sir.

1216
00:59:35,840 --> 00:59:39,880
Speaker 5: So I heard you talk previously and you you have

1217
00:59:40,000 --> 00:59:42,840
Speaker 5: interesting views about media and you used to have you

1218
00:59:42,880 --> 00:59:43,280
Speaker 5: still have.

1219
00:59:43,200 --> 00:59:47,000
Speaker 4: Your podcast, Yeah, I have a out. Yeah if I've

1220
00:59:47,040 --> 00:59:48,600
Speaker 4: done a number of podcasts, yeah.

1221
00:59:48,480 --> 00:59:51,200
Speaker 3: Okay, and then you have the show on Vice.

1222
00:59:51,360 --> 00:59:53,280
Speaker 4: Yes, I do hustle, hustle, hustle.

1223
00:59:53,640 --> 00:59:57,600
Speaker 5: So all right, so how does that work as far

1224
00:59:57,640 --> 01:00:00,600
Speaker 5: as being on the all this out of the coin,

1225
01:00:00,680 --> 01:00:03,880
Speaker 5: as far as like, because Vice is a huge operation, rightm.

1226
01:00:05,800 --> 01:00:07,320
Speaker 3: Like what's the end of workings of that? Like having

1227
01:00:07,360 --> 01:00:08,320
Speaker 3: your own show?

1228
01:00:09,000 --> 01:00:10,040
Speaker 2: How that even come about?

1229
01:00:10,440 --> 01:00:15,680
Speaker 4: Yeah? So the interesting So the the essence of media

1230
01:00:16,320 --> 01:00:20,919
Speaker 4: is communicating who you are, what you do, and why

1231
01:00:20,960 --> 01:00:24,760
Speaker 4: you do it in a way that resonates with an

1232
01:00:24,880 --> 01:00:27,480
Speaker 4: end consumer, with another person pretty much on the other

1233
01:00:27,520 --> 01:00:30,520
Speaker 4: side of that screen. And like that's just a very

1234
01:00:30,640 --> 01:00:34,480
Speaker 4: unique opportunity that we have specific to this generation. And

1235
01:00:34,680 --> 01:00:37,360
Speaker 4: like at the essence of having a show and all

1236
01:00:37,400 --> 01:00:40,280
Speaker 4: this other stuff, like and even earn your leisure, Like,

1237
01:00:40,320 --> 01:00:42,600
Speaker 4: at the essence of it is like people are picking

1238
01:00:42,600 --> 01:00:44,440
Speaker 4: out what you're putting down, like the funck with what

1239
01:00:44,520 --> 01:00:46,080
Speaker 4: you're saying and what your guests saying and all this

1240
01:00:46,080 --> 01:00:49,440
Speaker 4: other stuff. And that's really the most important part, man,

1241
01:00:49,200 --> 01:00:53,120
Speaker 4: And and once you're able to over time, if you

1242
01:00:53,160 --> 01:00:55,840
Speaker 4: stay consistent, if you look at my earliest videos, man,

1243
01:00:56,000 --> 01:01:01,040
Speaker 4: really bad, you know, cheesy, stiff, and like, you know,

1244
01:01:01,200 --> 01:01:03,120
Speaker 4: some I have people that reach out to me that

1245
01:01:03,280 --> 01:01:05,320
Speaker 4: are trying to get into video now, but they're comparing

1246
01:01:05,360 --> 01:01:07,680
Speaker 4: their day one shit to like my stuff now. It's

1247
01:01:07,680 --> 01:01:10,280
Speaker 4: like it's not going to be the same. But if

1248
01:01:10,320 --> 01:01:14,600
Speaker 4: you're willing to deal with the discomfort of being new

1249
01:01:14,640 --> 01:01:18,040
Speaker 4: at this for enough period of time and you get

1250
01:01:18,080 --> 01:01:20,280
Speaker 4: through some of the kinks and you learn to express

1251
01:01:20,320 --> 01:01:22,800
Speaker 4: yourself on this specific medium, whatever that is. It could

1252
01:01:22,840 --> 01:01:26,120
Speaker 4: be writing like my Boy Julian Mitchell Rester Forbes and Beats,

1253
01:01:26,440 --> 01:01:30,560
Speaker 4: it could be podcasting, it could be video, whichever the medium.

1254
01:01:30,760 --> 01:01:33,840
Speaker 4: Once you have gone through the reps, and get good

1255
01:01:33,840 --> 01:01:36,720
Speaker 4: at expressing yourself in that medium. Then what happens is

1256
01:01:36,760 --> 01:01:39,600
Speaker 4: you start building a community and audience of people who

1257
01:01:39,640 --> 01:01:43,960
Speaker 4: fuck with you, you know. And then once you have that,

1258
01:01:44,760 --> 01:01:49,760
Speaker 4: which is like messenger, message and audience, and that virtuous

1259
01:01:49,760 --> 01:01:52,560
Speaker 4: cycle opens up the door for a lot. And so

1260
01:01:53,200 --> 01:01:56,920
Speaker 4: the first big media project that I was invited to

1261
01:01:57,000 --> 01:02:00,360
Speaker 4: do was a podcast that I hosted for eBay that

1262
01:02:00,440 --> 01:02:04,320
Speaker 4: was produced by a company called Gimlet Media, and that

1263
01:02:04,480 --> 01:02:07,040
Speaker 4: like that project, Like I got paid like fifty g's

1264
01:02:07,080 --> 01:02:09,720
Speaker 4: to do that, and like, I didn't even know that

1265
01:02:09,840 --> 01:02:12,600
Speaker 4: you could get paid to do some shit that I

1266
01:02:12,600 --> 01:02:18,160
Speaker 4: would do for free. So something eBay was like, yo,

1267
01:02:18,600 --> 01:02:21,360
Speaker 4: we have millions of sellers, and Gimblet's like yo, we

1268
01:02:21,400 --> 01:02:24,240
Speaker 4: have millions of listeners. And you know, they so they'd

1269
01:02:24,240 --> 01:02:27,160
Speaker 4: cut a deal between themselves. eBay was looking at produce

1270
01:02:27,160 --> 01:02:30,720
Speaker 4: a podcast gimblin that's their business producing podcasts. Boom that's

1271
01:02:30,720 --> 01:02:34,360
Speaker 4: a branded podcast, meaning it's brought to you by eBay.

1272
01:02:34,560 --> 01:02:37,520
Speaker 4: And then what happens is they look for hosts, and so,

1273
01:02:37,960 --> 01:02:40,640
Speaker 4: you know, because I was already out there doing my thing,

1274
01:02:40,920 --> 01:02:43,960
Speaker 4: my name came up in the conversation. And that's why

1275
01:02:43,960 --> 01:02:46,120
Speaker 4: I really believe if you're not out there doing your

1276
01:02:46,160 --> 01:02:48,680
Speaker 4: thing with the fucking phone, then you're never gonna get

1277
01:02:48,720 --> 01:02:52,320
Speaker 4: to a bigger screen. So start with whatever screen you got.

1278
01:02:52,880 --> 01:02:56,120
Speaker 4: And so I was fortunate to come with conversation. I

1279
01:02:56,200 --> 01:03:00,400
Speaker 4: met with the lady. She really liked me, and yeah,

1280
01:03:00,480 --> 01:03:04,920
Speaker 4: and and I got Boom. I got the opportunity to

1281
01:03:05,120 --> 01:03:10,320
Speaker 4: host my first bigger scale, branded production. And that was

1282
01:03:10,560 --> 01:03:13,720
Speaker 4: a you know, Gimlet is very special the way they

1283
01:03:13,760 --> 01:03:17,760
Speaker 4: do their podcast. Like, we had four producers, we had

1284
01:03:17,760 --> 01:03:20,880
Speaker 4: a creative director. I mean, it was like a big production.

1285
01:03:20,960 --> 01:03:24,320
Speaker 4: I was traveling, yeah, so it wasn't like a regular thing.

1286
01:03:24,360 --> 01:03:28,120
Speaker 4: But but so that was my first like thing. Okay boom.

1287
01:03:28,160 --> 01:03:31,040
Speaker 4: We did two seasons of that, and then you know,

1288
01:03:31,160 --> 01:03:34,000
Speaker 4: my speaking started taking off because it's all a virtuous csychic,

1289
01:03:34,080 --> 01:03:36,400
Speaker 4: all feeds each other. Once you have a lot of listeners,

1290
01:03:36,560 --> 01:03:39,680
Speaker 4: you're being requested in all places. So then I started

1291
01:03:39,720 --> 01:03:42,120
Speaker 4: doing speaking first for free, and then I found out

1292
01:03:42,120 --> 01:03:44,880
Speaker 4: you get paid for it. So the very next time

1293
01:03:44,880 --> 01:03:46,920
Speaker 4: someone said, yo, you want to speak, I said, instead

1294
01:03:46,920 --> 01:03:49,560
Speaker 4: of just saying yes, I said, what's your budget? You

1295
01:03:49,600 --> 01:03:53,760
Speaker 4: know an important question these days. I don't ask for

1296
01:03:53,800 --> 01:03:56,439
Speaker 4: the budget. I just say my price. But those days,

1297
01:03:56,480 --> 01:03:58,000
Speaker 4: I was like, what's your budget and she was like

1298
01:03:58,040 --> 01:04:00,720
Speaker 4: a thousand bucks. I was like, cool, I'll take it.

1299
01:04:01,520 --> 01:04:04,200
Speaker 4: So like I got paid a G and then I

1300
01:04:04,240 --> 01:04:06,320
Speaker 4: tried to go for G again, but you don't always

1301
01:04:06,360 --> 01:04:08,560
Speaker 4: get it. So then I got two hundred bucks four

1302
01:04:08,640 --> 01:04:13,160
Speaker 4: hundred three fifty five seven fifty thousand, two gs back

1303
01:04:13,200 --> 01:04:16,160
Speaker 4: to one. You know, just like the reps, the motions

1304
01:04:16,320 --> 01:04:19,240
Speaker 4: like okay, cool, And you know, when you're first doing something,

1305
01:04:19,600 --> 01:04:22,720
Speaker 4: whether it's vc, whether it's media, whether it's real estate,

1306
01:04:23,480 --> 01:04:26,560
Speaker 4: you want to prioritize in the beginning for reps. So

1307
01:04:26,640 --> 01:04:29,040
Speaker 4: I'm doing whatever it is for free to start. It

1308
01:04:29,040 --> 01:04:30,520
Speaker 4: doesn't matter to me. I just want to get the

1309
01:04:30,520 --> 01:04:33,200
Speaker 4: reps in. And I started getting better and better, and

1310
01:04:33,240 --> 01:04:35,760
Speaker 4: so speaking started picking up. I got signed by an agent.

1311
01:04:36,200 --> 01:04:39,960
Speaker 4: To anyone listening, yes there is a profession that exists

1312
01:04:40,280 --> 01:04:43,280
Speaker 4: where it's like a salesperson whose sole job is to

1313
01:04:43,400 --> 01:04:45,720
Speaker 4: sell you and you don't pay them anything. They just

1314
01:04:45,760 --> 01:04:49,520
Speaker 4: make a commission the catches. They only take people on

1315
01:04:49,640 --> 01:04:52,240
Speaker 4: that they feel like they can sell. And so I

1316
01:04:52,280 --> 01:04:54,160
Speaker 4: found an agent who was like, yo, you know you

1317
01:04:54,240 --> 01:04:55,400
Speaker 4: got a lot of stuff going for you. Let me

1318
01:04:55,400 --> 01:05:00,680
Speaker 4: represent them. I had a literary agent was like, yo,

1319
01:05:00,760 --> 01:05:02,240
Speaker 4: you know you should do a book deal, and then

1320
01:05:02,240 --> 01:05:04,920
Speaker 4: I asked her if she knew any speaking agents introduced

1321
01:05:04,920 --> 01:05:07,000
Speaker 4: me and the first time I signed to an agent,

1322
01:05:07,080 --> 01:05:09,640
Speaker 4: my rate for speaking got up to like thirty five hundred.

1323
01:05:09,920 --> 01:05:11,960
Speaker 4: I was like, all right, bet you know it was

1324
01:05:12,040 --> 01:05:14,320
Speaker 4: higher than my one thousand I was charging. But they

1325
01:05:14,320 --> 01:05:17,720
Speaker 4: take twenty percent percent of thirty five hundred. It's like

1326
01:05:17,760 --> 01:05:19,720
Speaker 4: seven hundred bucks, so I was not in like twenty

1327
01:05:19,760 --> 01:05:21,880
Speaker 4: eight hundred. All right, cool, I could do and it

1328
01:05:21,920 --> 01:05:24,360
Speaker 4: was just whatever they brought me, so it was really

1329
01:05:24,400 --> 01:05:27,320
Speaker 4: net net. So anyway, so here I have, this podcast

1330
01:05:27,680 --> 01:05:32,120
Speaker 4: is being listened to by people, is feeding my speaking business.

1331
01:05:32,400 --> 01:05:34,520
Speaker 4: And every time I went and spoke, I noticed people

1332
01:05:34,600 --> 01:05:37,360
Speaker 4: weren't recording their shit. I'm on, dude, you're leaving out

1333
01:05:37,600 --> 01:05:40,600
Speaker 4: the main value recorded so you can turn it into

1334
01:05:40,600 --> 01:05:42,800
Speaker 4: small business content, so you can feed it to social

1335
01:05:43,080 --> 01:05:45,240
Speaker 4: so you can get requested in more places. And it

1336
01:05:45,400 --> 01:05:47,320
Speaker 4: just all feeds each other. So that's what I was

1337
01:05:47,480 --> 01:05:50,280
Speaker 4: really doing. I had the chance to do another podcast

1338
01:05:50,280 --> 01:05:54,800
Speaker 4: for the Washington Post, similar sized deal, and so just

1339
01:05:54,880 --> 01:05:57,480
Speaker 4: over time, this all feeding each other. I'm speaking a lot,

1340
01:05:57,600 --> 01:05:59,920
Speaker 4: I'm capturing it. A lot of cats don't want it

1341
01:06:00,080 --> 01:06:01,720
Speaker 4: capture their shit because they don't want to pay for

1342
01:06:01,760 --> 01:06:04,640
Speaker 4: a video guy to travel with them. I'll take it.

1343
01:06:04,800 --> 01:06:07,880
Speaker 4: I'll take a haircut all day. Yeah, I'll pay my

1344
01:06:08,040 --> 01:06:09,960
Speaker 4: video guy whatever I got to pay him, and the

1345
01:06:09,960 --> 01:06:13,360
Speaker 4: flight and the lodge. These days, my agent knows that

1346
01:06:13,480 --> 01:06:15,720
Speaker 4: I always travel with video, so now that shit gets

1347
01:06:15,720 --> 01:06:18,640
Speaker 4: covered for me, and I just pay my my guy

1348
01:06:18,640 --> 01:06:21,600
Speaker 4: for the craft. But so as you can see, as

1349
01:06:21,640 --> 01:06:24,480
Speaker 4: you grow in the game, you get efficiencies dialed in,

1350
01:06:24,880 --> 01:06:27,920
Speaker 4: but when you start, you gotta come out out of pocket.

1351
01:06:28,120 --> 01:06:31,880
Speaker 4: So I'm eating into my own profits, sometimes not making

1352
01:06:31,880 --> 01:06:34,200
Speaker 4: any money, sometimes costing me money to pay for the

1353
01:06:34,280 --> 01:06:38,200
Speaker 4: video guy. But the video and capturing is essential to

1354
01:06:38,360 --> 01:06:42,440
Speaker 4: the craft because that is what allows that particular engagement

1355
01:06:42,520 --> 01:06:46,040
Speaker 4: to live beyond that engagement. And there are some companies

1356
01:06:46,080 --> 01:06:49,560
Speaker 4: throwing massive conferences with no fucking no one capturing anything.

1357
01:06:50,960 --> 01:06:54,760
Speaker 4: It did happen. And so anyway, so I'm capturing these talks,

1358
01:06:55,120 --> 01:06:57,880
Speaker 4: communicating it. I'm one of the only kind of younger

1359
01:06:58,080 --> 01:07:00,840
Speaker 4: cats like doing it this way. And so then that

1360
01:07:00,920 --> 01:07:03,680
Speaker 4: picks up and next thing you know, man, the phone

1361
01:07:03,800 --> 01:07:07,400
Speaker 4: turned into a vlog, turned into the podcast turned into

1362
01:07:07,400 --> 01:07:09,080
Speaker 4: someone hit me up and saying, hey, you want to

1363
01:07:09,120 --> 01:07:11,800
Speaker 4: do a TV show? You know, and then it happened,

1364
01:07:11,960 --> 01:07:15,720
Speaker 4: So the TV show Mark Samuelson, Marcus Samson Ye, yeah,

1365
01:07:16,080 --> 01:07:18,680
Speaker 4: Top Chef Harlem, tizz too. Yep.

1366
01:07:19,040 --> 01:07:21,520
Speaker 2: How did I mean? Did you know him or did

1367
01:07:21,560 --> 01:07:23,200
Speaker 2: you meet him? And I guess at least a Ke's

1368
01:07:23,280 --> 01:07:25,880
Speaker 2: also the executi producer as well. Right, yes, did you

1369
01:07:26,000 --> 01:07:28,919
Speaker 2: know them prior have a relationship or you know, during

1370
01:07:28,920 --> 01:07:29,400
Speaker 2: the process.

1371
01:07:29,880 --> 01:07:33,400
Speaker 4: So Mark shout out to Marcus Samerson man good brother,

1372
01:07:33,920 --> 01:07:36,480
Speaker 4: one of my original mentors in Italian Guy. He told

1373
01:07:36,480 --> 01:07:38,560
Speaker 4: me he's like, yo, and this is I don't know

1374
01:07:38,600 --> 01:07:40,040
Speaker 4: if you guys heard me say, like, you got to

1375
01:07:40,040 --> 01:07:42,120
Speaker 4: be top five and whatever you do, you got to

1376
01:07:42,120 --> 01:07:44,680
Speaker 4: come up top of mind. If not, then you're missing out.

1377
01:07:44,720 --> 01:07:48,320
Speaker 4: You're leaving opportunities on the table. That mentor taught me that,

1378
01:07:48,440 --> 01:07:50,840
Speaker 4: and he told me he's like, you got to be

1379
01:07:50,960 --> 01:07:53,800
Speaker 4: top five in Harlem if you're gonna build in Harlem.

1380
01:07:53,880 --> 01:07:56,400
Speaker 4: And right now, number one in Harlem is Marcus Hammerson,

1381
01:07:57,120 --> 01:08:00,120
Speaker 4: So you got to go and build with him. It's

1382
01:08:00,160 --> 01:08:02,560
Speaker 4: crazy to think years later he's executive produced by show

1383
01:08:02,560 --> 01:08:04,760
Speaker 4: and now we're making money together. But at that point

1384
01:08:04,800 --> 01:08:06,200
Speaker 4: in time, I was like, fuck, all right, I gotta

1385
01:08:06,200 --> 01:08:08,720
Speaker 4: get to Marcus, and I was emailing him stuff like that,

1386
01:08:08,760 --> 01:08:11,600
Speaker 4: and eventually the restaurant, yup, well that's the restaurant. Eventually

1387
01:08:11,600 --> 01:08:13,400
Speaker 4: he invited me by. We had coffee. He liked me

1388
01:08:13,440 --> 01:08:17,320
Speaker 4: a lot, and I interviewed him similar to this. You know,

1389
01:08:17,360 --> 01:08:19,560
Speaker 4: I like using interviews as a way to build relationship.

1390
01:08:19,880 --> 01:08:21,479
Speaker 4: For sure. For sure, now you guys know all the

1391
01:08:21,520 --> 01:08:27,479
Speaker 4: players and then yeah, man, And so then I had

1392
01:08:27,479 --> 01:08:29,960
Speaker 4: someone approach me about doing the show. And the cool

1393
01:08:30,000 --> 01:08:34,000
Speaker 4: thing about packaging the show is that there's junior talent

1394
01:08:34,040 --> 01:08:36,519
Speaker 4: and their senior talent. You usually will have the junior

1395
01:08:36,560 --> 01:08:38,400
Speaker 4: talent kind of be on camera, which is what I

1396
01:08:38,560 --> 01:08:41,800
Speaker 4: was in this production, and then you find bigger names

1397
01:08:41,800 --> 01:08:44,280
Speaker 4: and attach them to the product, to the project. In

1398
01:08:44,280 --> 01:08:46,960
Speaker 4: this case, it was Marcus Sammerson. Marcus who signed to

1399
01:08:47,120 --> 01:08:51,599
Speaker 4: WM that's Alicia's same agency. We lobbed it up there,

1400
01:08:51,640 --> 01:08:54,960
Speaker 4: We're like, yes, she might be interested. She was interested,

1401
01:08:55,479 --> 01:08:59,479
Speaker 4: came onto the project, and now it's four of us, Marcus, Alicia,

1402
01:08:59,600 --> 01:09:02,479
Speaker 4: me and then Beth, the original creator of the show.

1403
01:09:03,360 --> 01:09:05,599
Speaker 4: And you know, then we had two likes to stand

1404
01:09:05,640 --> 01:09:07,920
Speaker 4: on and what you do is you develop was called

1405
01:09:07,960 --> 01:09:11,519
Speaker 4: the Sizzle Reel, which is like a two minute preview

1406
01:09:11,560 --> 01:09:14,519
Speaker 4: of the show. Where people go wrong in TV is

1407
01:09:14,560 --> 01:09:16,679
Speaker 4: they spend way too much money on the pilot. They'll

1408
01:09:16,760 --> 01:09:19,599
Speaker 4: drop like ten, fifteen, twenty g's I don't care how

1409
01:09:19,680 --> 01:09:21,679
Speaker 4: much money you spend on the pilot. Your pilot's gonna

1410
01:09:21,720 --> 01:09:25,599
Speaker 4: be fucking terrible your first go round cause you don't

1411
01:09:25,600 --> 01:09:28,640
Speaker 4: even know what you're making. And so my producer the

1412
01:09:28,800 --> 01:09:32,240
Speaker 4: EP of the show, she actually was like, she's a

1413
01:09:32,360 --> 01:09:35,640
Speaker 4: very seasoned TV executive. She made Pimp my ride, and

1414
01:09:35,680 --> 01:09:37,160
Speaker 4: she told me she's like John, that show bought me

1415
01:09:37,200 --> 01:09:43,160
Speaker 4: my first house. So she made a real hit show.

1416
01:09:43,520 --> 01:09:45,519
Speaker 4: And so as a result, she knew, hey, let's not

1417
01:09:45,520 --> 01:09:48,000
Speaker 4: spend any money on the Sizzle reel. Let's actually just

1418
01:09:48,080 --> 01:09:52,479
Speaker 4: rip existing footage splice it together. What we did was

1419
01:09:52,520 --> 01:09:56,400
Speaker 4: she camped out outside of Alicia's trailer one day after

1420
01:09:56,560 --> 01:09:59,600
Speaker 4: outside of an event, and she got Alicia's voiceover on

1421
01:09:59,600 --> 01:10:02,960
Speaker 4: the Sizzle. So that gave us enough credibility. And with

1422
01:10:03,120 --> 01:10:07,479
Speaker 4: that two minute sizzle with Alicia's vo on a voiceover,

1423
01:10:07,960 --> 01:10:10,080
Speaker 4: we were able to go to market and like one

1424
01:10:10,120 --> 01:10:12,800
Speaker 4: thing about selling a TV show is not enough to

1425
01:10:12,880 --> 01:10:15,479
Speaker 4: know the companies. You got to know the specific buyers

1426
01:10:15,479 --> 01:10:18,760
Speaker 4: within that companies, because there's buying departments whose sole job

1427
01:10:18,840 --> 01:10:21,240
Speaker 4: is to look for things to put on their cable roster,

1428
01:10:21,320 --> 01:10:24,720
Speaker 4: on their lineup. And so we you know, we went

1429
01:10:24,920 --> 01:10:28,439
Speaker 4: BT was interested. Netflix, we had some interest, Oxygen, we

1430
01:10:28,479 --> 01:10:32,400
Speaker 4: had some interest, but Vice emerged as very interesting. They

1431
01:10:32,400 --> 01:10:34,559
Speaker 4: called us in like it was very clear from the

1432
01:10:34,560 --> 01:10:37,559
Speaker 4: beginning that they were very very interested. And what they

1433
01:10:37,560 --> 01:10:40,280
Speaker 4: did was what happens with a series, is they bought

1434
01:10:40,320 --> 01:10:43,880
Speaker 4: the pilot, so they actually funded instead of us shooting

1435
01:10:43,880 --> 01:10:45,559
Speaker 4: our own pilot. This is what I said, hold off,

1436
01:10:46,200 --> 01:10:49,480
Speaker 4: use a sizzle reel, use that as a selling mechanism.

1437
01:10:49,880 --> 01:10:53,679
Speaker 4: Then the network will buy the pilot. They'll fund the pilot.

1438
01:10:54,400 --> 01:10:57,960
Speaker 4: So now your pilot is coming from the specifications of

1439
01:10:58,000 --> 01:10:59,479
Speaker 4: the network and they're telling you how they want to

1440
01:10:59,479 --> 01:11:01,920
Speaker 4: see it. And the cool thing about this deal is

1441
01:11:02,280 --> 01:11:04,920
Speaker 4: after you shoot the pilot, they have four months to

1442
01:11:04,920 --> 01:11:07,080
Speaker 4: pick it up. If they pick it up, great, you're

1443
01:11:07,160 --> 01:11:08,960
Speaker 4: you know, you got picked up. You're going to season one.

1444
01:11:09,280 --> 01:11:12,320
Speaker 4: If they don't pick it up, you get the show back,

1445
01:11:12,640 --> 01:11:15,360
Speaker 4: and then you get to sell it with a pilot.

1446
01:11:15,439 --> 01:11:18,599
Speaker 4: That was made on someone else's dime. No one knows

1447
01:11:18,640 --> 01:11:22,559
Speaker 4: that shit, Like I mean, like experience TV execs know that.

1448
01:11:23,000 --> 01:11:25,879
Speaker 4: But I was blessed because Beth gave me the insight

1449
01:11:27,600 --> 01:11:29,080
Speaker 4: and and I told her. I was like, hey, look,

1450
01:11:29,160 --> 01:11:31,800
Speaker 4: I'm gonna be I guess, on camera talent, but like

1451
01:11:32,360 --> 01:11:35,120
Speaker 4: you know, I'm a fucking businessman, and you know, like

1452
01:11:35,560 --> 01:11:38,000
Speaker 4: I want to do this only if you'll lift the

1453
01:11:38,040 --> 01:11:41,240
Speaker 4: curtains and give me a real honest look at like

1454
01:11:41,400 --> 01:11:47,120
Speaker 4: what this whole process is, budgeting, developing, the concept, creative producing,

1455
01:11:48,160 --> 01:11:50,479
Speaker 4: you know. And you know, she was like, all right,

1456
01:11:50,520 --> 01:11:52,360
Speaker 4: let's do it if we're fortunate to get on a

1457
01:11:52,439 --> 01:11:55,439
Speaker 4: ride because point zero one percent of all pilots get

1458
01:11:55,439 --> 01:11:59,000
Speaker 4: picked up. And we defied the odds. We got picked

1459
01:11:59,040 --> 01:12:00,679
Speaker 4: up and it was a razy ride.

1460
01:12:00,680 --> 01:12:00,800
Speaker 3: Bro.

1461
01:12:00,920 --> 01:12:03,760
Speaker 4: It was a twenty two person crew. I mean it was.

1462
01:12:04,040 --> 01:12:07,559
Speaker 4: It's a multimillion dollar budget show. And how does that work?

1463
01:12:07,600 --> 01:12:09,400
Speaker 2: So like when you get picked up after the pilot,

1464
01:12:09,800 --> 01:12:11,200
Speaker 2: is it per episode or are you getting paid for

1465
01:12:11,280 --> 01:12:11,639
Speaker 2: the season?

1466
01:12:12,160 --> 01:12:16,400
Speaker 4: So so full disclosure, I you know, is just on

1467
01:12:16,479 --> 01:12:21,040
Speaker 4: camera talent for season one because you got to start somewhere.

1468
01:12:21,920 --> 01:12:25,280
Speaker 4: So the way that the mechanics work, because I got

1469
01:12:25,280 --> 01:12:30,960
Speaker 4: insight is a production company gets paid a per episode fee.

1470
01:12:30,960 --> 01:12:33,040
Speaker 4: That production company will say, hey, it's going to cost

1471
01:12:33,120 --> 01:12:36,559
Speaker 4: us three hundred grand, four hundred grand, two hundred grand,

1472
01:12:36,600 --> 01:12:38,360
Speaker 4: one hundred grand, whatever it is to make the show

1473
01:12:38,400 --> 01:12:42,320
Speaker 4: you quoted out. The network agrees, and then the production

1474
01:12:42,439 --> 01:12:45,320
Speaker 4: company typically keeps like ten percent of the budget is

1475
01:12:45,360 --> 01:12:48,200
Speaker 4: their fee, and then they get to make whatever this,

1476
01:12:48,400 --> 01:12:51,800
Speaker 4: you know, whatever money they don't spend. So like if

1477
01:12:51,920 --> 01:12:53,760
Speaker 4: if it's one hundred thousand dollars per episode, but they

1478
01:12:53,760 --> 01:12:55,880
Speaker 4: made it for seventy, they keep thirty plus their fee.

1479
01:12:56,280 --> 01:12:59,599
Speaker 4: So anyway, that's how the actual mechanics work. But just

1480
01:12:59,640 --> 01:13:01,920
Speaker 4: like you're gonna find a common theme here, you're not

1481
01:13:01,960 --> 01:13:03,320
Speaker 4: really gonna make a lot of money in your first

1482
01:13:03,360 --> 01:13:05,639
Speaker 4: real estate deal. You're not really gonna make a lot

1483
01:13:05,640 --> 01:13:08,000
Speaker 4: of money your first angel deal or your first speaking

1484
01:13:08,040 --> 01:13:13,360
Speaker 4: gig or season one. You use season one as a

1485
01:13:13,360 --> 01:13:16,680
Speaker 4: way to get it going. Now, Beth, who sold the

1486
01:13:16,720 --> 01:13:19,160
Speaker 4: show device could now turn around to another network and

1487
01:13:19,240 --> 01:13:22,960
Speaker 4: sell another concept a lot easier, and then we can

1488
01:13:23,000 --> 01:13:24,639
Speaker 4: get picked up season two and so forth.

1489
01:13:25,160 --> 01:13:27,280
Speaker 5: Said that, remember we had an actor. We was in

1490
01:13:27,400 --> 01:13:29,880
Speaker 5: la and he so seventeen. He said that he said,

1491
01:13:29,880 --> 01:13:31,360
Speaker 5: he's actly what you said. He's an actor, he's not

1492
01:13:31,400 --> 01:13:32,760
Speaker 5: a producer of the show. Where he was saying that

1493
01:13:32,840 --> 01:13:36,439
Speaker 5: even for like an actor, your first year or two

1494
01:13:36,520 --> 01:13:41,639
Speaker 5: years is like nothing. Then now you can negotiate like

1495
01:13:41,320 --> 01:13:44,040
Speaker 5: a like it's like sports. Your first contract is a

1496
01:13:44,080 --> 01:13:46,599
Speaker 5: little bit of money, and now you're in a position. Okay,

1497
01:13:46,880 --> 01:13:49,240
Speaker 5: I performed. You know my work ethic. You see this,

1498
01:13:49,320 --> 01:13:51,960
Speaker 5: da da da, Now you the second deal is like.

1499
01:13:52,120 --> 01:13:53,040
Speaker 2: It's just like your resume.

1500
01:13:53,160 --> 01:13:55,400
Speaker 4: And the interesting thing is I went through the negotiating

1501
01:13:55,439 --> 01:13:59,360
Speaker 4: table with illusions. Dellusions are grandeur. I was like, Yo,

1502
01:13:59,560 --> 01:14:01,760
Speaker 4: I want twenty g's an episode that I had heard

1503
01:14:01,760 --> 01:14:04,439
Speaker 4: that that's what you get paid, and they were like, yo,

1504
01:14:05,280 --> 01:14:08,640
Speaker 4: remove a couple of er and so like. But I

1505
01:14:08,680 --> 01:14:10,280
Speaker 4: was like, Yo, how can that be because I had

1506
01:14:10,600 --> 01:14:12,920
Speaker 4: I had a reference where I was making more per

1507
01:14:12,960 --> 01:14:17,559
Speaker 4: episode on podcasting, and I realize, actually that that is

1508
01:14:17,600 --> 01:14:21,479
Speaker 4: the case. TV has so much leverage because they know

1509
01:14:21,600 --> 01:14:23,400
Speaker 4: that once you're on air, you're gonna make a lot

1510
01:14:23,439 --> 01:14:27,479
Speaker 4: of money, and so you actually get paid very little

1511
01:14:27,880 --> 01:14:33,679
Speaker 4: to be on unscripted i e. Reality television because they

1512
01:14:33,800 --> 01:14:36,040
Speaker 4: know that you're gonna make money on the exposure, like

1513
01:14:36,040 --> 01:14:39,080
Speaker 4: love hip hop, like lost of the characters. Yeah, well

1514
01:14:39,120 --> 01:14:42,920
Speaker 4: people not even they are characters. Yeah, we know some

1515
01:14:42,960 --> 01:14:45,719
Speaker 4: of them. So so that's how it works. So anyone

1516
01:14:45,760 --> 01:14:47,519
Speaker 4: looking to make you know, a gatin TV, Well, let me.

1517
01:14:47,520 --> 01:14:50,680
Speaker 5: Ask you this before we before we end this. All right,

1518
01:14:51,280 --> 01:14:55,000
Speaker 5: you're you're an entrepreneur, right the way this is going,

1519
01:14:55,920 --> 01:14:58,800
Speaker 5: does it make sense for somebody to go that traditional

1520
01:14:58,880 --> 01:15:01,240
Speaker 5: route or to go in route YouTube?

1521
01:15:01,400 --> 01:15:04,599
Speaker 3: And like, what's what's your thoughts on that?

1522
01:15:04,720 --> 01:15:06,880
Speaker 4: I think right now that's a great question. I think

1523
01:15:07,120 --> 01:15:11,519
Speaker 4: right now October twenty fifth, twenty nineteen, that the current

1524
01:15:11,720 --> 01:15:14,439
Speaker 4: climate right now, there's a lot of money to be

1525
01:15:14,520 --> 01:15:22,519
Speaker 4: made in branded projects. Branded projects that is, a brand

1526
01:15:22,800 --> 01:15:30,679
Speaker 4: like Modello, Corona, Nike, Adidas, Cadillac or whatever. Like all

1527
01:15:30,720 --> 01:15:35,280
Speaker 4: these brands are looking for ways to reach consumers. Remember

1528
01:15:35,760 --> 01:15:38,240
Speaker 4: we started this media segment by me giving the basic truth,

1529
01:15:38,280 --> 01:15:42,880
Speaker 4: and that was for a reason. Messenger message audience. It

1530
01:15:42,920 --> 01:15:44,599
Speaker 4: could be on the phone, it could be on the vlog,

1531
01:15:44,640 --> 01:15:48,280
Speaker 4: podcast writing, TV doesn't matter. But the reality is that

1532
01:15:49,000 --> 01:15:53,200
Speaker 4: these days brands are looking for new and elevated ways

1533
01:15:53,240 --> 01:15:56,320
Speaker 4: to reach audiences, and the way they're doing that is

1534
01:15:56,479 --> 01:16:02,320
Speaker 4: via smaller content creators like us and if you could

1535
01:16:02,320 --> 01:16:05,840
Speaker 4: position yourself the right way, you can position yourself to

1536
01:16:05,920 --> 01:16:09,120
Speaker 4: extract some of those dollars. Because those budgets are flowing around.

1537
01:16:09,160 --> 01:16:12,439
Speaker 4: I'm fortunate to see them. They're flowing around. Brands are

1538
01:16:12,439 --> 01:16:16,920
Speaker 4: spending quarter million dollars for one event one night, quarter

1539
01:16:16,960 --> 01:16:20,439
Speaker 4: million dollar for an event, you know, five hundred thousand

1540
01:16:20,439 --> 01:16:23,559
Speaker 4: on a podcast literally a podcast season, a few million

1541
01:16:23,600 --> 01:16:26,280
Speaker 4: on a show. You know. These these brands have budgets.

1542
01:16:26,320 --> 01:16:29,439
Speaker 4: Now here's the thing. I don't know how much longer

1543
01:16:29,520 --> 01:16:35,120
Speaker 4: this is gonna last. I'm looking around like, yo, what fuck?

1544
01:16:35,240 --> 01:16:38,920
Speaker 4: Like there's money and everything these days. Yo. The other

1545
01:16:39,000 --> 01:16:42,120
Speaker 4: day I got a I got uh, you know, product

1546
01:16:42,160 --> 01:16:45,000
Speaker 4: from a company called Poopery, which is like you spray

1547
01:16:45,040 --> 01:16:47,720
Speaker 4: this spray in a toilet before you take shit, And

1548
01:16:47,800 --> 01:16:49,400
Speaker 4: like when I got paid to take a shit, I

1549
01:16:49,479 --> 01:16:52,320
Speaker 4: was like, yo, you there is literally nothing that you

1550
01:16:52,400 --> 01:16:57,960
Speaker 4: can't get paid for. So so right, So with that

1551
01:16:58,080 --> 01:17:01,240
Speaker 4: in mind, I'm like, all right. One thing I know

1552
01:17:01,560 --> 01:17:05,240
Speaker 4: is that there's a lot of budget flowing around for creators.

1553
01:17:05,680 --> 01:17:09,040
Speaker 4: Another thing I know is that nothing lasts forever. So

1554
01:17:09,080 --> 01:17:10,720
Speaker 4: the third thing I know is I'm gonna try and

1555
01:17:10,760 --> 01:17:13,680
Speaker 4: make as much of this bread while it's around get

1556
01:17:13,720 --> 01:17:16,599
Speaker 4: to the back. This is a market reality that's specific

1557
01:17:16,640 --> 01:17:21,680
Speaker 4: to our generation. There are companies spending you know, incredible

1558
01:17:21,680 --> 01:17:26,400
Speaker 4: amounts of bread to create content, to build communities, to

1559
01:17:26,520 --> 01:17:29,920
Speaker 4: reach people. So with that being said, are you gonna

1560
01:17:29,960 --> 01:17:34,200
Speaker 4: put in the effort to build the community? And if

1561
01:17:34,240 --> 01:17:38,160
Speaker 4: you do and you become top five, you will get

1562
01:17:38,240 --> 01:17:42,040
Speaker 4: hit up for opportunities to get paid to do what

1563
01:17:42,080 --> 01:17:42,439
Speaker 4: you love.

1564
01:17:43,760 --> 01:17:44,240
Speaker 3: It's a lot.

1565
01:17:44,760 --> 01:17:47,160
Speaker 5: Yeah, man, that was powerful. Man, Thank you, Thank you

1566
01:17:47,200 --> 01:17:49,360
Speaker 5: for coming in and appreciate that. Something that you will

1567
01:17:49,400 --> 01:17:52,400
Speaker 5: even looking forward to. And I think every segment it

1568
01:17:52,439 --> 01:17:55,320
Speaker 5: was I learned every single you.

1569
01:17:55,280 --> 01:17:57,360
Speaker 2: Know, as you're talking, I'm just thinking like, Yo, this

1570
01:17:57,439 --> 01:18:00,800
Speaker 2: guy's twenty six years old, or those experience that you

1571
01:18:00,880 --> 01:18:03,800
Speaker 2: had sound like a lifetime, sound like a biopic. Like

1572
01:18:04,120 --> 01:18:06,679
Speaker 2: you know, I'm thinking like he's doing that at twenty two,

1573
01:18:06,800 --> 01:18:10,519
Speaker 2: twenty three, twenty like what we're trying to figure out? Yo,

1574
01:18:10,600 --> 01:18:19,040
Speaker 2: we're going to caravan? My god, this is great, prody.

1575
01:18:19,120 --> 01:18:19,400
Speaker 3: Thank you.

1576
01:18:19,920 --> 01:18:23,360
Speaker 4: Oh wow, we're not worthy of that, but thank you.

1577
01:18:23,400 --> 01:18:23,639
Speaker 3: Man.

1578
01:18:24,520 --> 01:18:26,360
Speaker 4: You know, just a kid that started doing early. The

1579
01:18:26,439 --> 01:18:28,320
Speaker 4: earlier you start doing, you know, the more time you

1580
01:18:28,360 --> 01:18:30,320
Speaker 4: get under your belt. But thank you guys man, it

1581
01:18:30,360 --> 01:18:33,080
Speaker 4: was great to hop on this platform. And I hope

1582
01:18:33,080 --> 01:18:35,519
Speaker 4: that you guys audience fucks with it and if they do,

1583
01:18:35,640 --> 01:18:36,960
Speaker 4: we can do a second installment soon.

1584
01:18:37,040 --> 01:18:39,280
Speaker 3: Yeah, for sure, for sure. Anything you want to tell

1585
01:18:39,320 --> 01:18:40,080
Speaker 3: the people.

1586
01:18:40,520 --> 01:18:42,720
Speaker 4: No, man, just I love you guys man, for real,

1587
01:18:42,760 --> 01:18:48,840
Speaker 4: even if we haven't met, because damn man, Like, proximity

1588
01:18:48,880 --> 01:18:51,080
Speaker 4: is everything. Man, you can't be what you can't see.

1589
01:18:51,920 --> 01:18:54,840
Speaker 4: And I appreciate each of us playing our part, whether

1590
01:18:54,880 --> 01:18:58,679
Speaker 4: it's consuming the content and then taking action on that content,

1591
01:18:58,880 --> 01:19:01,240
Speaker 4: or it's distributing the content or sharing the mess, whatever

1592
01:19:02,320 --> 01:19:04,680
Speaker 4: your role in this whole thing is. I really do

1593
01:19:04,720 --> 01:19:07,679
Speaker 4: think we're living in some special times, bro. Like we're

1594
01:19:07,680 --> 01:19:11,160
Speaker 4: living in the same way Dizzy and Bird knew each

1595
01:19:11,160 --> 01:19:12,880
Speaker 4: other when they were playing jazz, in the same way

1596
01:19:13,000 --> 01:19:15,280
Speaker 4: Nas and Hove like knew each other coming up. Like,

1597
01:19:15,360 --> 01:19:19,360
Speaker 4: I really think entrepreneurship or whatever is the new zeitgeist.

1598
01:19:19,680 --> 01:19:22,720
Speaker 4: And I'm just, you know, honored to be part of

1599
01:19:22,760 --> 01:19:23,439
Speaker 4: this whole space.

1600
01:19:24,400 --> 01:19:27,639
Speaker 3: For sure. We honored to have you Troy any housekeeping items. Yeah, yeah.

1601
01:19:27,680 --> 01:19:28,760
Speaker 2: We just want to give a big shout out to

1602
01:19:28,800 --> 01:19:31,280
Speaker 2: everybody on patreon dot com that is proud to pay

1603
01:19:31,360 --> 01:19:33,280
Speaker 2: program you already know how that works.

1604
01:19:33,280 --> 01:19:34,040
Speaker 3: This five tiers.

1605
01:19:34,600 --> 01:19:36,879
Speaker 2: It allows the podcast to do a lot of things, travel,

1606
01:19:37,479 --> 01:19:39,880
Speaker 2: put on events, like we said, we got something to

1607
01:19:39,880 --> 01:19:41,439
Speaker 2: coming for DC and we.

1608
01:19:41,479 --> 01:19:42,360
Speaker 4: Got some new numbers.

1609
01:19:42,439 --> 01:19:47,120
Speaker 2: Yeah, Curvin's shout out to you, Al Swin, Andrew, Jeff,

1610
01:19:47,120 --> 01:19:49,240
Speaker 2: and shout out to Rex. He's a T five member,

1611
01:19:49,280 --> 01:19:51,719
Speaker 2: so shout out to him and everybody supporting the merger

1612
01:19:51,760 --> 01:19:52,920
Speaker 2: on earnielisia dot com.

1613
01:19:53,080 --> 01:19:54,400
Speaker 3: Patreon is in the community.

1614
01:19:54,680 --> 01:19:55,320
Speaker 4: That's a big one.

1615
01:19:55,720 --> 01:19:58,040
Speaker 2: Yeah, we we We said that we're gonna do something

1616
01:19:58,040 --> 01:19:59,920
Speaker 2: when we get to one hundred. We had like ninety

1617
01:20:00,280 --> 01:20:01,680
Speaker 2: six right now, so we're going to do something what

1618
01:20:01,760 --> 01:20:04,000
Speaker 2: we get to one hundred patrons the.

1619
01:20:03,920 --> 01:20:05,799
Speaker 5: Show and the book tip of the week is Steve

1620
01:20:05,920 --> 01:20:07,200
Speaker 5: jobs autobiography.

1621
01:20:07,479 --> 01:20:08,280
Speaker 3: Actually write that book.

1622
01:20:08,280 --> 01:20:10,640
Speaker 5: It was actually a really good book, inspirational when it

1623
01:20:10,680 --> 01:20:14,200
Speaker 5: kind of outlies his whole journey in business. So yes,

1624
01:20:14,280 --> 01:20:16,280
Speaker 5: once again, thank you guys rocking with us. We'll see

1625
01:20:16,280 --> 01:20:16,840
Speaker 5: you next week.

1626
01:20:16,880 --> 01:20:18,840
Speaker 4: Peace Peace, Peace Earners.

1627
01:20:19,640 --> 01:20:23,560
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