00:00

Props to this guy for doing this. I gotta give him credit. I'm I'm more into this than you are. I kinda love that a guy's dreaming like this.

Props to this guy for doing this. I gotta give him credit. I'm I'm more into this than you are. I kinda love that a guy's dreaming like this.

00:09

I feel like I could rule the world and know I could be what I want to.

I feel like I could rule the world and know I could be what I want to.

00:14

I put my all in it like a day's off on a roll. Let's travel never looking

I put my all in it like a day's off on a roll. Let's travel never looking

00:19

So we, we just did this other intro. Mike's got screwed up. We're gonna do it again. We could say what we said even faster though. We're talking about the stuff that we're the startups that we're investing in, I actually put it into a format.

So we, we just did this other intro. Mike's got screwed up. We're gonna do it again. We could say what we said even faster though. We're talking about the stuff that we're the startups that we're investing in, I actually put it into a format.

00:32

So, like, the name of the deal,

So, like, the name of the deal,

00:34

why each of us did it, why it can be great, but I also wanna say why it can suck, why it will fail. Yeah. This is like the,

why each of us did it, why it can be great, but I also wanna say why it can suck, why it will fail. Yeah. This is like the,

00:43

Disclaimer here, we have a stake in everything that you're gonna we're gonna be talking about.

Disclaimer here, we have a stake in everything that you're gonna we're gonna be talking about.

00:48

I frankly don't care if people use it or not. I mean, this is more so entertainment. I have a feeling some people will use it, but that and and also this isn't like investment advice. A lot of these companies are very likely gonna go out of business because that's just how startup investing works. Yeah. And you couldn't invest in them if you wanted to. Most likely. The the the good outcome of this would be, a, you hear about some cool startups that are doing interesting things. And it just gets you reals turning about, like, oh, shit. I've never even thought about that. That's exciting. And then the other is you get a taste of what it's like. To invest in deals and how you think how how an angel investor thinks about investing in in the early stage startups. Alright. I also I just wanna say it really quick. That doesn't I don't want people to know I'll say for me, I'm not necessarily

I frankly don't care if people use it or not. I mean, this is more so entertainment. I have a feeling some people will use it, but that and and also this isn't like investment advice. A lot of these companies are very likely gonna go out of business because that's just how startup investing works. Yeah. And you couldn't invest in them if you wanted to. Most likely. The the the good outcome of this would be, a, you hear about some cool startups that are doing interesting things. And it just gets you reals turning about, like, oh, shit. I've never even thought about that. That's exciting. And then the other is you get a taste of what it's like. To invest in deals and how you think how how an angel investor thinks about investing in in the early stage startups. Alright. I also I just wanna say it really quick. That doesn't I don't want people to know I'll say for me, I'm not necessarily

01:25

I'm not saying I'm good at this.

I'm not saying I'm good at this.

01:28

But I I'm I'm just kinda doing it, like, publicly. So people are watching me learn like, get in shape publicly. I've probably done thirty deals. But, anyway,

But I I'm I'm just kinda doing it, like, publicly. So people are watching me learn like, get in shape publicly. I've probably done thirty deals. But, anyway,

01:36

you wanna,

you wanna,

01:38

alright, let me go first because I have this deal that I I have to make an introduction to you because they specifically asked for you. It's the top one. It's called abstract ops. And I need to know if you wanna join this or not. I I I just emailed the guy today because I was like, shit. When I saw you write this, I was like, oh, shit. I forgot to reply to that guy. Did I introduce you?

alright, let me go first because I have this deal that I I have to make an introduction to you because they specifically asked for you. It's the top one. It's called abstract ops. And I need to know if you wanna join this or not. I I I just emailed the guy today because I was like, shit. When I saw you write this, I was like, oh, shit. I forgot to reply to that guy. Did I introduce you?

01:55

You told me about it. And I was like, I I forgot to ask about it. So I emailed him. Yeah. He I I offered you him or him when somehow you're already in the know, and he said he wants to talk to you. So I know this guy there's two guys. I don't know the second one. The first one, his name is Adam Spector, one of the founders. I think he's the COO. I've known him since two thousand and fourteen or fifteen, maybe. I've been in a book club with him. There's four of us. We have a book club. And I invested in the seed round. I didn't have much money at the time, but I think I invested either one thousand or two thousand dollars. I don't remember. But I got pro So when what that basically means is when they were gonna raise again, I got to invest again, and that's why I find out about this. Adam's amazing. I ended up investing around four hundred thousand dollars. And and I gotta preface this saying that I do my own money that comes straight out of my checking account. And then I also have this thing called hampton VC. So hampton VC dot com, or is it dot com or dot co?

You told me about it. And I was like, I I forgot to ask about it. So I emailed him. Yeah. He I I offered you him or him when somehow you're already in the know, and he said he wants to talk to you. So I know this guy there's two guys. I don't know the second one. The first one, his name is Adam Spector, one of the founders. I think he's the COO. I've known him since two thousand and fourteen or fifteen, maybe. I've been in a book club with him. There's four of us. We have a book club. And I invested in the seed round. I didn't have much money at the time, but I think I invested either one thousand or two thousand dollars. I don't remember. But I got pro So when what that basically means is when they were gonna raise again, I got to invest again, and that's why I find out about this. Adam's amazing. I ended up investing around four hundred thousand dollars. And and I gotta preface this saying that I do my own money that comes straight out of my checking account. And then I also have this thing called hampton VC. So hampton VC dot com, or is it dot com or dot co?

02:45

And you can, it's where I use AngelList where I invest it's hampton b c dot com. It's where I invest, like, my own money, and then if someone wants to join, they can. So in this deal, I did both my own and Hampton's funny. And we invested about four hundred thousand dollars. Basically, explain what it is. What's what's the abstract ops? So have you the like, if you're, like, know what you're talking about a little bit, it's you would say it's, like, net net suite for startups. If you don't know what that is, which a lot of people don't know what that is, I don't know what NetSuite is. So when you start a company, there's a I don't actually know if you had to do this because you actually had people earlier on on, but when I started my company, there's a lot of stuff that I would always forget to do because I'm just an absent minded person. So, for example, if you have,

And you can, it's where I use AngelList where I invest it's hampton b c dot com. It's where I invest, like, my own money, and then if someone wants to join, they can. So in this deal, I did both my own and Hampton's funny. And we invested about four hundred thousand dollars. Basically, explain what it is. What's what's the abstract ops? So have you the like, if you're, like, know what you're talking about a little bit, it's you would say it's, like, net net suite for startups. If you don't know what that is, which a lot of people don't know what that is, I don't know what NetSuite is. So when you start a company, there's a I don't actually know if you had to do this because you actually had people earlier on on, but when I started my company, there's a lot of stuff that I would always forget to do because I'm just an absent minded person. So, for example, if you have,

03:26

employees in different states, to file taxes into each state or even just to register in each state. And it's not like a huge penalty. It's like a hundred dollar penalty if you don't do it correctly and you get a notice But it's important to do it all right. Otherwise, it adds up. Or

employees in different states, to file taxes into each state or even just to register in each state. And it's not like a huge penalty. It's like a hundred dollar penalty if you don't do it correctly and you get a notice But it's important to do it all right. Otherwise, it adds up. Or

03:41

another example is, like, certain HR practices and certain back end practices, like, onboarding contractors in a very particular type of way, getting them to re assign, like, an intellectual property release. There's just a thousand different things And abstract ops is software that helps you that basically adds in what all those things are and its workflow so you can see which tasks need to get done. Does that make sense? It's a little bit fluffy, but does that make sense? That's a little bit fluffy, but I recommend people actually go to their landing page, not because

another example is, like, certain HR practices and certain back end practices, like, onboarding contractors in a very particular type of way, getting them to re assign, like, an intellectual property release. There's just a thousand different things And abstract ops is software that helps you that basically adds in what all those things are and its workflow so you can see which tasks need to get done. Does that make sense? It's a little bit fluffy, but does that make sense? That's a little bit fluffy, but I recommend people actually go to their landing page, not because

04:10

that has anything to do with the investment, but

that has anything to do with the investment, but

04:12

it's such a good landing page. So so what you see if you go there? So it says so I'll just gonna point out a couple of brilliant things. I'm gonna use this in my power writing course because this is an example of an amazing landing page for a fairly boring business that would normally have a cookie cutter very boring

it's such a good landing page. So so what you see if you go there? So it says so I'll just gonna point out a couple of brilliant things. I'm gonna use this in my power writing course because this is an example of an amazing landing page for a fairly boring business that would normally have a cookie cutter very boring

04:28

stock photo type of, of website. And so it says

stock photo type of, of website. And so it says

04:31

stop running from your back office tasks, which is basically, like, had a million ways they could explain their business. Like, we make it easy to handle,

stop running from your back office tasks, which is basically, like, had a million ways they could explain their business. Like, we make it easy to handle,

04:40

you know, your your back office task or to handle HR legal and and HR legal and finance ops. And so stop running from it. I think it's great. It shows me this person understands, like, how founders are, which is, like, we put the shit off as far as we possibly can. Because it's a pain in the ass, so we just don't wanna think about it. And then it has this stick figure running away from a tornado,

you know, your your back office task or to handle HR legal and and HR legal and finance ops. And so stop running from it. I think it's great. It shows me this person understands, like, how founders are, which is, like, we put the shit off as far as we possibly can. Because it's a pain in the ass, so we just don't wanna think about it. And then it has this stick figure running away from a tornado,

05:00

like a little hand drawn tornado, and I love it. And then the the the first, like, sub headline is I started a company to do a bunch of back office work, literally, no founder ever. Right? And it's, like, I just get that I I love the that they have personality. I think what that does is it makes it way easier. It shows me that whoever's behind this knows marketing And they're gonna have a much easier time recruiting,

like a little hand drawn tornado, and I love it. And then the the the first, like, sub headline is I started a company to do a bunch of back office work, literally, no founder ever. Right? And it's, like, I just get that I I love the that they have personality. I think what that does is it makes it way easier. It shows me that whoever's behind this knows marketing And they're gonna have a much easier time recruiting,

05:22

like, customers and and users because

like, customers and and users because

05:25

they're taking the the average mundane things and they're turning them into little sales moments where I start to love this brand. And, and I think Slack did this extremely well. If you open up Slack, there's, like, ten little delightful details that make you kinda like Slack even though it's a pretty boring, like, work chat tool. And, so so that was something that stood out to me right away. So I'll explain why I made a decision to invest. The first is I know the founder. His name is Adam, and he had previously sold the company to Twitter. I don't know if it was incredibly successful, but I don't care. To me, it's like, alright. It's in what we call the the sweet spot. Yeah. You know, you did just enough that I don't think you're an idiot, but you didn't get rich enough where, where I I'm worried that you're gonna be, like, you know, some lazy wannabe steve jobs visionary type for your next thing. It's like you're you're hungrier than you were the first time and you're smarter than you were the first time too. Yeah.

they're taking the the average mundane things and they're turning them into little sales moments where I start to love this brand. And, and I think Slack did this extremely well. If you open up Slack, there's, like, ten little delightful details that make you kinda like Slack even though it's a pretty boring, like, work chat tool. And, so so that was something that stood out to me right away. So I'll explain why I made a decision to invest. The first is I know the founder. His name is Adam, and he had previously sold the company to Twitter. I don't know if it was incredibly successful, but I don't care. To me, it's like, alright. It's in what we call the the sweet spot. Yeah. You know, you did just enough that I don't think you're an idiot, but you didn't get rich enough where, where I I'm worried that you're gonna be, like, you know, some lazy wannabe steve jobs visionary type for your next thing. It's like you're you're hungrier than you were the first time and you're smarter than you were the first time too. Yeah.

06:12

And so that's one of the reasons why the second reason is, the product. I, like, I know, like, frankly, I think they're still figuring out the product. They have, like, close to seven figures in recurring revenue, but I think they're still even figuring out the product, which frankly is a reason why you shouldn't have it I shouldn't have investors. Like, there's still kinda tinkering exactly what it's gonna become. But I do know that when it comes to the back office of startups,

And so that's one of the reasons why the second reason is, the product. I, like, I know, like, frankly, I think they're still figuring out the product. They have, like, close to seven figures in recurring revenue, but I think they're still even figuring out the product, which frankly is a reason why you shouldn't have it I shouldn't have investors. Like, there's still kinda tinkering exactly what it's gonna become. But I do know that when it comes to the back office of startups,

06:35

this was something that I failed at for years. Like, I struggled so hard to, like, make sure I filed my taxes in Washington because we had one guy who was working more than forty hours a week there. Yep. Like, it it was just like a nightmare and it stressed me out. And there when I was selling my company, there was so much stuff that was, like, loose paperwork.

this was something that I failed at for years. Like, I struggled so hard to, like, make sure I filed my taxes in Washington because we had one guy who was working more than forty hours a week there. Yep. Like, it it was just like a nightmare and it stressed me out. And there when I was selling my company, there was so much stuff that was, like, loose paperwork.

06:50

The,

The,

06:51

the,

the,

06:52

the things that make me worry though, is that Zenifit Gusto or the thousand of other companies that they can just once you because, like, it's hard to get once you start using Gusto or some payroll provider, getting out of that is a pain in the ass. So if these companies are smart, which some of them are, but they're still big slow companies, then they're gonna do a good job of ripping abstract out off and offering those features as a add on. But I act I think that could be set for a lot of different companies.

the things that make me worry though, is that Zenifit Gusto or the thousand of other companies that they can just once you because, like, it's hard to get once you start using Gusto or some payroll provider, getting out of that is a pain in the ass. So if these companies are smart, which some of them are, but they're still big slow companies, then they're gonna do a good job of ripping abstract out off and offering those features as a add on. But I act I think that could be set for a lot of different companies.

07:20

Also, because it's this, like, huge

Also, because it's this, like, huge

07:22

it's kind of vague now because it's not, a very narrow product, because it's, like, huge idea, I get nervous that they're not gonna be able to sell this to customers. They've done a pretty good job of getting some of, like, the cooler hipper companies already as beta customers. So it's incredibly interesting to me. What about you?

it's kind of vague now because it's not, a very narrow product, because it's, like, huge idea, I get nervous that they're not gonna be able to sell this to customers. They've done a pretty good job of getting some of, like, the cooler hipper companies already as beta customers. So it's incredibly interesting to me. What about you?

07:37

So so I kind of agree. So I guess, like, the one thing for me is it's not super clear. Like, even on their website, they have a bunch of these, like, little examples. So for it says, Here CEO, we handle and automate your HR legal ops finance so you don't have to. And then I like how it says be scrappy, not sloppy, which is definitely a distinction I've I've failed that many many times. Falling into sloppy, but calling it scrappy,

So so I kind of agree. So I guess, like, the one thing for me is it's not super clear. Like, even on their website, they have a bunch of these, like, little examples. So for it says, Here CEO, we handle and automate your HR legal ops finance so you don't have to. And then I like how it says be scrappy, not sloppy, which is definitely a distinction I've I've failed that many many times. Falling into sloppy, but calling it scrappy,

07:58

as my as my cover. But they have a bunch of, like, use cases, like, pay legal invoice send equity grant to advisor, set up health insurance,

as my as my cover. But they have a bunch of, like, use cases, like, pay legal invoice send equity grant to advisor, set up health insurance,

08:06

compose investor update. And so I'm not sure how one platform can either do all those things, or is it just a to do list? That you actually do this. So I don't actually know the product well enough because I haven't used it, but I would say that's one challenge is it seems like it's trying to do a whole bunch of things, which means it's either a very generic horizontal tool or it's a complicated tool. Which one is it?

compose investor update. And so I'm not sure how one platform can either do all those things, or is it just a to do list? That you actually do this. So I don't actually know the product well enough because I haven't used it, but I would say that's one challenge is it seems like it's trying to do a whole bunch of things, which means it's either a very generic horizontal tool or it's a complicated tool. Which one is it?

08:26

I think it's gonna be a complicated tool at first. That said, I think that, like, a company like a NetSuite, which does a little which is like, you know, QuickBooks?

I think it's gonna be a complicated tool at first. That said, I think that, like, a company like a NetSuite, which does a little which is like, you know, QuickBooks?

08:35

Yeah. NetSuite is like that, but plus a lot more.

Yeah. NetSuite is like that, but plus a lot more.

08:38

And what I've noticed is that being particularly being at HubSpot, once I can get if you can be a good enough salesman and get someone to start buying your shit, it's incredibly easy just to start selling them more and building more stuff on top of that. And I'm hoping that's what we can do with app check ops. And one of the kind of question marks here is, is this automated or are there just humans in the back end that are, like, helping do all this stuff?

And what I've noticed is that being particularly being at HubSpot, once I can get if you can be a good enough salesman and get someone to start buying your shit, it's incredibly easy just to start selling them more and building more stuff on top of that. And I'm hoping that's what we can do with app check ops. And one of the kind of question marks here is, is this automated or are there just humans in the back end that are, like, helping do all this stuff?

09:02

A little bit of both,

A little bit of both,

09:03

currently. Currently, a little bit of both. But I think that's that's the question is can they get it to be more software than than humans so that it scales better? Are you gonna invest?

currently. Currently, a little bit of both. But I think that's that's the question is can they get it to be more software than than humans so that it scales better? Are you gonna invest?

09:13

We'll see. I wanna actually use the product because I I'm guilty of this, like I said. So, like, I have a a company that

We'll see. I wanna actually use the product because I I'm guilty of this, like I said. So, like, I have a a company that

09:20

that, you know, my, basically, my my personal company that's, like, back office is kind of sloppy. It's kind of a mess. Like, our quickbooks I don't wanna open any of those tabs. Like, I don't wanna open gusto. I don't wanna open quickbooks. It's, like, something I, like, choose to avoid.

that, you know, my, basically, my my personal company that's, like, back office is kind of sloppy. It's kind of a mess. Like, our quickbooks I don't wanna open any of those tabs. Like, I don't wanna open gusto. I don't wanna open quickbooks. It's, like, something I, like, choose to avoid.

09:33

I'd rather, like, I'd rather put it off until shit breaks, and then it's I know it's too late, but, like, fuck. I just I hate thinking about this stuff. I only ran I only wanna think about growth if I can. And so actually think I would be a potential user for this. And so I'm gonna use it, and I'm gonna see is this magical for me or not? And that'll be the the make or break for investing. Is always the best. If you can be if you are the customer, it's way easier to invest than things that you're guessing about. Tell me about one that you're excited about. Alright. I'm gonna tell you about one called

I'd rather, like, I'd rather put it off until shit breaks, and then it's I know it's too late, but, like, fuck. I just I hate thinking about this stuff. I only ran I only wanna think about growth if I can. And so actually think I would be a potential user for this. And so I'm gonna use it, and I'm gonna see is this magical for me or not? And that'll be the the make or break for investing. Is always the best. If you can be if you are the customer, it's way easier to invest than things that you're guessing about. Tell me about one that you're excited about. Alright. I'm gonna tell you about one called

10:02

jar. So I I think I emailed you this deal because I think you should do it.

jar. So I I think I emailed you this deal because I think you should do it.

10:08

But what is it? So jar is,

But what is it? So jar is,

10:10

you know that app Acorns?

you know that app Acorns?

10:12

It's like kind of a big fintech app. Acorns, like public?

It's like kind of a big fintech app. Acorns, like public?

10:16

I don't know if they I think they're, like, spacking or something like that. They're they're, like, a mold they're, like, over a billion dollar valuation.

I don't know if they I think they're, like, spacking or something like that. They're they're, like, a mold they're, like, over a billion dollar valuation.

10:21

And what they they point to the the the genius there was, like, you would buy something, and they would just be like, hey. Do you wanna, like, do you wanna it would just tell you upfront. Do you wanna be a saver? Okay. You wanna be a saver. Great.

And what they they point to the the the genius there was, like, you would buy something, and they would just be like, hey. Do you wanna, like, do you wanna it would just tell you upfront. Do you wanna be a saver? Okay. You wanna be a saver. Great.

10:34

Well, here's here's why we can make it easy for you. You don't have to think too much. When you buy Starbucks and it's your bill is, you know, three twenty three Let's just round up to four, and we'll just round up the savings, and we'll just deposit that. And, oh, look, over time, if you just keep rounding up, you'll, you'll save. That's how it started at least. And it was a pretty clever idea. People like that. And so what these guys are doing is they're taking the Acorns model.

Well, here's here's why we can make it easy for you. You don't have to think too much. When you buy Starbucks and it's your bill is, you know, three twenty three Let's just round up to four, and we'll just round up the savings, and we'll just deposit that. And, oh, look, over time, if you just keep rounding up, you'll, you'll save. That's how it started at least. And it was a pretty clever idea. People like that. And so what these guys are doing is they're taking the Acorns model.

10:56

And tweaking a little bit, but they're doing it in India. And so here's what I like about it.

And tweaking a little bit, but they're doing it in India. And so here's what I like about it.

11:01

You most apps when you wanna go invest, it's like, you download some FinTech app, and then you gotta, like, link your account. So you gotta deposit money. And then it's, like, great. What do you wanna invest in? Or how do you wanna set this up? You know, do you wanna do a mutual fund? Do you wanna do a index fund? Like, what do you wanna do? And it's like shit. I need knowledge now? And then it's like, hey, by the way, you can't just start investing right away. Like, we have to your identity. So, like, scan your driver's license, hold it up to the screen, you know, with a nude photo and whatever else. Right? There's, like, all these steps that go into just getting started with any investing app because that's the law. And what these guys figured out is

You most apps when you wanna go invest, it's like, you download some FinTech app, and then you gotta, like, link your account. So you gotta deposit money. And then it's, like, great. What do you wanna invest in? Or how do you wanna set this up? You know, do you wanna do a mutual fund? Do you wanna do a index fund? Like, what do you wanna do? And it's like shit. I need knowledge now? And then it's like, hey, by the way, you can't just start investing right away. Like, we have to your identity. So, like, scan your driver's license, hold it up to the screen, you know, with a nude photo and whatever else. Right? There's, like, all these steps that go into just getting started with any investing app because that's the law. And what these guys figured out is

11:36

a

a

11:37

Did did this used to be called

Did did this used to be called

11:40

No.

No.

11:41

Are you sure? Yeah. I think they're I don't remember spinning. They didn't mention that at least. It's it's called their their URL was change jar, dot I n. And so, what they were doing is they were like, look, the average person in India is, this was, like, their story. They were like, I got my job when I was twenty one, like most people, but I don't start I didn't start saving anything or investing until I was thirty. And when I was thirty, he was like, oh, shit. I wanna, like, buy a house sometime, and, like, I wanna get married. And, like, oh, I really should start doing adult stuff.

Are you sure? Yeah. I think they're I don't remember spinning. They didn't mention that at least. It's it's called their their URL was change jar, dot I n. And so, what they were doing is they were like, look, the average person in India is, this was, like, their story. They were like, I got my job when I was twenty one, like most people, but I don't start I didn't start saving anything or investing until I was thirty. And when I was thirty, he was like, oh, shit. I wanna, like, buy a house sometime, and, like, I wanna get married. And, like, oh, I really should start doing adult stuff.

12:13

And so he's like, that lost decade between twenty and thirty

And so he's like, that lost decade between twenty and thirty

12:17

is, like, a huge difference in your net result if you had started saving earlier. Like, everybody's seen these compound savings charts where if you started twenty one versus thirty one, you know, you end up with millions of dollars more because you've been able to, like, say for an extra decade.

is, like, a huge difference in your net result if you had started saving earlier. Like, everybody's seen these compound savings charts where if you started twenty one versus thirty one, you know, you end up with millions of dollars more because you've been able to, like, say for an extra decade.

12:31

And, even in small amounts. And so what they said was how do we solve that problem? How do we get you to start investing at twenty one instead of thirty one? And what they did was they're like, we're gonna simplify the shit out of this. We're gonna simplify it where in forty five seconds, you can have your first investment done. I said, well, how do you do that? And they said, well, here's the thing. In India, everybody believes in gold. And I know this because my family in India has, like, gold shops. They, like, sell jewelry and whatnot. And gold is, like, the thing. Every like, if you ask a mom there about stocks, they can't tell you a single thing. It's not even a big stocks is not, like, a a big thing there. But everybody has, like, a gold set of jewelry as they're, like, safety nets. That's crazy, man. Like, if if we ever have to flee, we're we're just gonna grab the gold and we're gonna run. And, like, this this literally happened in India where there's, like, a where Pakistan and India split up. So people literally did have to flee. So it's, like, kind of baked in that way. And so they're, like, We only offer one asset. It's gold. Everybody already believes in it and they want it. The second thing is you're first, up to a certain weight of gold. You don't have to do all the financial compliance

And, even in small amounts. And so what they said was how do we solve that problem? How do we get you to start investing at twenty one instead of thirty one? And what they did was they're like, we're gonna simplify the shit out of this. We're gonna simplify it where in forty five seconds, you can have your first investment done. I said, well, how do you do that? And they said, well, here's the thing. In India, everybody believes in gold. And I know this because my family in India has, like, gold shops. They, like, sell jewelry and whatnot. And gold is, like, the thing. Every like, if you ask a mom there about stocks, they can't tell you a single thing. It's not even a big stocks is not, like, a a big thing there. But everybody has, like, a gold set of jewelry as they're, like, safety nets. That's crazy, man. Like, if if we ever have to flee, we're we're just gonna grab the gold and we're gonna run. And, like, this this literally happened in India where there's, like, a where Pakistan and India split up. So people literally did have to flee. So it's, like, kind of baked in that way. And so they're, like, We only offer one asset. It's gold. Everybody already believes in it and they want it. The second thing is you're first, up to a certain weight of gold. You don't have to do all the financial compliance

13:31

that you have to do for, like, stocks or real estate or other, like, larger investments

that you have to do for, like, stocks or real estate or other, like, larger investments

13:36

or different asset classes. So they're like, there's this loophole where basically we can get you to start saving right away. You don't have to verify your ID, and you don't have to, like, link your accounts and do all this other stuff.

or different asset classes. So they're like, there's this loophole where basically we can get you to start saving right away. You don't have to verify your ID, and you don't have to, like, link your accounts and do all this other stuff.

13:46

So I love that, like, the simplicity that was in their go to market because I was like, oh, people will actually do that. If I can, in forty five seconds, get saving, great. And then once I reach this threshold where I've bought a certain weight of gold, then it asks you to put your put your put way more information in. But by then, I'm kinda pot committed because I already have my I already have wealth here, even a small amount, I'll, like, protect that versus a normal app. You just bounce before you even put the first dollar was this your own money that you invested or the fund's money?

So I love that, like, the simplicity that was in their go to market because I was like, oh, people will actually do that. If I can, in forty five seconds, get saving, great. And then once I reach this threshold where I've bought a certain weight of gold, then it asks you to put your put your put way more information in. But by then, I'm kinda pot committed because I already have my I already have wealth here, even a small amount, I'll, like, protect that versus a normal app. You just bounce before you even put the first dollar was this your own money that you invested or the fund's money?

14:14

Well, I put my own money into the fund, but then all my investments have to go through the fund unless

Well, I put my own money into the fund, but then all my investments have to go through the fund unless

14:20

the founder itself won't let the fund invest. And because only because that's like a, like an Angelist rule?

the founder itself won't let the fund invest. And because only because that's like a, like an Angelist rule?

14:26

Well, that's the rule I when I started the fund because I didn't wanna have a a conflict of interest where I'm doing the good deals and my own money, and I'm doing the, borderline deals and the funds money. No. I wanted it to be clean so that, hey, every deal I do, I just do it through this one vehicle. How much do you invest? So I put in a hundred fifty k And it's got a twelve million dollar valuation

Well, that's the rule I when I started the fund because I didn't wanna have a a conflict of interest where I'm doing the good deals and my own money, and I'm doing the, borderline deals and the funds money. No. I wanted it to be clean so that, hey, every deal I do, I just do it through this one vehicle. How much do you invest? So I put in a hundred fifty k And it's got a twelve million dollar valuation

14:47

and a twenty percent discount. And so, so so I put in a hundred fifty k, they're raising about a million bucks. They already have good traction. So, like, you know, what what do you look for? You like the team, you like the product, and then you gotta like the traction in the market size. And so market size I like because I think this micro savings thing can add up really big in India. There's just so many people. And so, like, their average user after, I think, like, two or three months, has has saved three hundred dollars already in the app, US dollars. And so that's, like, pretty significant for a very early, like, just putting micro payment after micro payment in of just rounding up your spenses

and a twenty percent discount. And so, so so I put in a hundred fifty k, they're raising about a million bucks. They already have good traction. So, like, you know, what what do you look for? You like the team, you like the product, and then you gotta like the traction in the market size. And so market size I like because I think this micro savings thing can add up really big in India. There's just so many people. And so, like, their average user after, I think, like, two or three months, has has saved three hundred dollars already in the app, US dollars. And so that's, like, pretty significant for a very early, like, just putting micro payment after micro payment in of just rounding up your spenses

15:21

or just automating and saying, every day, I wanna put in fifty rupees, which is like, you know, whatever, a dollar or less than a dollar. And so it's like, every day I wanna put in fifty rupees. And because my goal is to save up enough where I can pay for my wedding, you know, in five years. And so it's kinda, like, sets the goal. And then it says, great. You should put in seventy five a day. And do you say yes? And then India also has this crazy thing. I don't know if you heard of UPI?

or just automating and saying, every day, I wanna put in fifty rupees, which is like, you know, whatever, a dollar or less than a dollar. And so it's like, every day I wanna put in fifty rupees. And because my goal is to save up enough where I can pay for my wedding, you know, in five years. And so it's kinda, like, sets the goal. And then it says, great. You should put in seventy five a day. And do you say yes? And then India also has this crazy thing. I don't know if you heard of UPI?

15:43

No.

No.

15:44

So, basically, the country

So, basically, the country

15:46

like, you know how, like, in the States, you have, like, every bank just kinda has their own clunky software, and there's different payment. You know, you can use Stripe for payments. You can use something else for payments. And there's no, like, there's no country level payments rails.

like, you know how, like, in the States, you have, like, every bank just kinda has their own clunky software, and there's different payment. You know, you can use Stripe for payments. You can use something else for payments. And there's no, like, there's no country level payments rails.

15:58

And so in India, the government came in and was like, yo, in the next year, everybody has to move to this news payment standard It's for the universal payments, whatever infrastructure or something like that. And, this will just make it so that anybody who's taking payments, you just build on top of these rails. And we're gonna modernize payments in India That's cool. Through this. And so they did that big change. And so that's that's changed the game. That's why there's a lot of innovation in India right now because this UPI thing was like a pretty major breakthrough. And the second thing is they just released this feature called autopay, which is basically, like, a recurring auto investment. And so these guys are using that new feature of UPI. So I just think that, like, why now makes a lot of sense for for this. And I like the the the hack that they have around just buying gold so that you you've reduced all the friction of getting somebody started. Do you so are you totally okay with investing in India? Like, because I don't I've only invested in American based companies. I've had Australia. I've had year all over Europe, and I'm like, for some reason, that gap freaks me out a little. It yeah. It kinda does to me too, but I've been investing in India. And,

And so in India, the government came in and was like, yo, in the next year, everybody has to move to this news payment standard It's for the universal payments, whatever infrastructure or something like that. And, this will just make it so that anybody who's taking payments, you just build on top of these rails. And we're gonna modernize payments in India That's cool. Through this. And so they did that big change. And so that's that's changed the game. That's why there's a lot of innovation in India right now because this UPI thing was like a pretty major breakthrough. And the second thing is they just released this feature called autopay, which is basically, like, a recurring auto investment. And so these guys are using that new feature of UPI. So I just think that, like, why now makes a lot of sense for for this. And I like the the the hack that they have around just buying gold so that you you've reduced all the friction of getting somebody started. Do you so are you totally okay with investing in India? Like, because I don't I've only invested in American based companies. I've had Australia. I've had year all over Europe, and I'm like, for some reason, that gap freaks me out a little. It yeah. It kinda does to me too, but I've been investing in India. And,

17:00

and so so when I do when I invest in India, there is definitely, like, subtraction. So that's my why it could fail. I just wrote India, question mark, question mark, question mark, like, easy for me to be fooled. Right? Like, these guys could be well known scammers in India that I don't know. Right? These guys could be I mean, they weren't. Right? They went through YC, I think. So so so so, you know, and, actually, I don't know if they went through YC, I know Well, the other other companies I invested in know these guys. And they went their competitor went to YC, which is your second point why they could fail. There's a lot of people in the space. Exactly. So FinTech is just super hot worldwide right now. There's, like, every day, there's a new credit card, a new debit card, a new Neo bank that's popping up, And then there's bigger players that are trying to modernize. And so I think the one way they could fail is that there's probably, like, ten between ten and fifty legit competitors to this in India. That are not doing directly this, but they can add this as a feature, or they could pivot into this,

and so so when I do when I invest in India, there is definitely, like, subtraction. So that's my why it could fail. I just wrote India, question mark, question mark, question mark, like, easy for me to be fooled. Right? Like, these guys could be well known scammers in India that I don't know. Right? These guys could be I mean, they weren't. Right? They went through YC, I think. So so so so, you know, and, actually, I don't know if they went through YC, I know Well, the other other companies I invested in know these guys. And they went their competitor went to YC, which is your second point why they could fail. There's a lot of people in the space. Exactly. So FinTech is just super hot worldwide right now. There's, like, every day, there's a new credit card, a new debit card, a new Neo bank that's popping up, And then there's bigger players that are trying to modernize. And so I think the one way they could fail is that there's probably, like, ten between ten and fifty legit competitors to this in India. That are not doing directly this, but they can add this as a feature, or they could pivot into this,

17:51

or they could, like, recognize the the clever things that these guys are doing and implement them. So I think that's the those are the two, which is, like, there's a bunch of competitors in fintech right now for every idea. And the second thing is India is always a little bit of a question mark, and it's something very easy for shit to look good in India because,

or they could, like, recognize the the clever things that these guys are doing and implement them. So I think that's the those are the two, which is, like, there's a bunch of competitors in fintech right now for every idea. And the second thing is India is always a little bit of a question mark, and it's something very easy for shit to look good in India because,

18:07

you know, cost of customer acquisitions always super cheap. It's like, oh, man, you're getting users for eighty cents. That's awesome.

you know, cost of customer acquisitions always super cheap. It's like, oh, man, you're getting users for eighty cents. That's awesome.

18:13

But, like, the reality is,

But, like, the reality is,

18:15

not all these Indian companies can be great. So so I gotta, like, my own filter for India is off because I come at it with a US point of view.

not all these Indian companies can be great. So so I gotta, like, my own filter for India is off because I come at it with a US point of view.

18:22

Having said all that, the two in the investments I've done so far are probably two of my best investments. And so I'm gonna keep betting there because I think that the country is like

Having said all that, the two in the investments I've done so far are probably two of my best investments. And so I'm gonna keep betting there because I think that the country is like

18:32

it's in a sweet spot where there's just a lot of innovation. There's just gonna be a lot of winners out of this batch, and I just need to bet in on enough of them that, okay, even if I get fooled by one or two or I didn't understand the market landscape, I get into enough winners,

it's in a sweet spot where there's just a lot of innovation. There's just gonna be a lot of winners out of this batch, and I just need to bet in on enough of them that, okay, even if I get fooled by one or two or I didn't understand the market landscape, I get into enough winners,

18:44

is my goal. Also, because I'm Indian, I kinda have this advantage where a lot of people in India follow me through this podcast or through Twitter, And so I am able to get into, like, any deal. Like, these guys, when they were reaching out, they're like, we asked only for two intros, you and Naval. And I was like, okay, bro, you have one of us in the wrong league there.

is my goal. Also, because I'm Indian, I kinda have this advantage where a lot of people in India follow me through this podcast or through Twitter, And so I am able to get into, like, any deal. Like, these guys, when they were reaching out, they're like, we asked only for two intros, you and Naval. And I was like, okay, bro, you have one of us in the wrong league there.

19:03

But the the reality is that's kind of an opportunity for me.

But the the reality is that's kind of an opportunity for me.

19:06

I build my brand bigger there, I can get into any deal I want there. I agree. I think it's why, like,

I build my brand bigger there, I can get into any deal I want there. I agree. I think it's why, like,

19:11

like Bruno Mars is, like, the most watched person on YouTube. It's because when you see, because in the, where's he from? Indony Philippines, wherever he's from, if you see someone who you recognize in America who's crushing and kicking ass, everyone rallies around that person from the outside country to, like, like, oh, he's one of us. So manny pacquiao in the Philippines. He's he's like the president there, and he's just because he's like a famous boxer here. They just wanna go all out for their guy. Yeah. Or Bjork in Iceland. So you're like the You're the you're the, Meet of India. I'm saying if I keep betting, then I have a path to do that. But if I'm never investing there, then I can't build that, like, it takes a stack of of of reasons why you should be, like, known and and and respected in a place. And I think one of the reasons why you could be known and respected is having invested in some winners, but I gotta plant those seeds now. Alright. Can I tell you when I'm really excited about? And I wasn't excited at first, and then I started using it. And I'm like, oh, I'm in. Okay. So Okay. The name is bad, and they're gonna change it. They're they're gonna change the name, I think.

like Bruno Mars is, like, the most watched person on YouTube. It's because when you see, because in the, where's he from? Indony Philippines, wherever he's from, if you see someone who you recognize in America who's crushing and kicking ass, everyone rallies around that person from the outside country to, like, like, oh, he's one of us. So manny pacquiao in the Philippines. He's he's like the president there, and he's just because he's like a famous boxer here. They just wanna go all out for their guy. Yeah. Or Bjork in Iceland. So you're like the You're the you're the, Meet of India. I'm saying if I keep betting, then I have a path to do that. But if I'm never investing there, then I can't build that, like, it takes a stack of of of reasons why you should be, like, known and and and respected in a place. And I think one of the reasons why you could be known and respected is having invested in some winners, but I gotta plant those seeds now. Alright. Can I tell you when I'm really excited about? And I wasn't excited at first, and then I started using it. And I'm like, oh, I'm in. Okay. So Okay. The name is bad, and they're gonna change it. They're they're gonna change the name, I think.

20:09

It's called the name's really bad. It's called rumor. So I'm actually highlighting it. See the memo that I wrote for. When you say it, the name's fine. When you spell it, you, you know, it sounds like you got, cotton in your mouth or something like that. So I've talked about

It's called the name's really bad. It's called rumor. So I'm actually highlighting it. See the memo that I wrote for. When you say it, the name's fine. When you spell it, you, you know, it sounds like you got, cotton in your mouth or something like that. So I've talked about

20:23

Bring a trailer. Bring a trailer is this website that originally started as like a car where they would show off cool cars that were on sale from around the web. They eventually launched their own

Bring a trailer. Bring a trailer is this website that originally started as like a car where they would show off cool cars that were on sale from around the web. They eventually launched their own

20:31

auction platform, but they just did a really good job of making editorializing

auction platform, but they just did a really good job of making editorializing

20:35

it, making being like a community so you can buy classic or even newer cars that fit a certain demographic,

it, making being like a community so you can buy classic or even newer cars that fit a certain demographic,

20:41

rumor is doing that for houses. And by the way, if you wanna invest Sean, let me know. I've

rumor is doing that for houses. And by the way, if you wanna invest Sean, let me know. I've

20:48

I wouldn't have been interested in this, except for the bring it when you've educated me on how bring a trailer is a great business, and then we've looked into different auctions through the podcast. So now when I look at this, I see it differently than, like, oh, just another home buying website. Okay. I don't I don't really power you different than No. It'll be cool because look at some of the example options and then click comments. And read the comments. That's kinda like why it's neat. How do I go to an auction? I don't even know if those are fake auctions or or what. The founder bought a bunch of homes just to put onto that site four auctions.

I wouldn't have been interested in this, except for the bring it when you've educated me on how bring a trailer is a great business, and then we've looked into different auctions through the podcast. So now when I look at this, I see it differently than, like, oh, just another home buying website. Okay. I don't I don't really power you different than No. It'll be cool because look at some of the example options and then click comments. And read the comments. That's kinda like why it's neat. How do I go to an auction? I don't even know if those are fake auctions or or what. The founder bought a bunch of homes just to put onto that site four auctions.

21:16

Right. And so go to the website. Bought a bunch of homes to to see the marketplace. I think he, like, owns, like, twenty he's, like, a he was, like, a he's a property owner. Like, he owns he's like a landlord. So let's just let's just explain it. So I'm on rumor. It's r u u m r dot com right now. They might change the name. So I go Washington looks to be the only market that's open. So I'm there And I'm just looking at this for the first time. So I see that there's this house in Washington. There's a bunch of pictures. And,

Right. And so go to the website. Bought a bunch of homes to to see the marketplace. I think he, like, owns, like, twenty he's, like, a he was, like, a he's a property owner. Like, he owns he's like a landlord. So let's just let's just explain it. So I'm on rumor. It's r u u m r dot com right now. They might change the name. So I go Washington looks to be the only market that's open. So I'm there And I'm just looking at this for the first time. So I see that there's this house in Washington. There's a bunch of pictures. And,

21:40

it's on sale for a hundred three thousand dollars. And it says that there's thirteen hours left presumably in this auction.

it's on sale for a hundred three thousand dollars. And it says that there's thirteen hours left presumably in this auction.

21:47

And then there's some details about it, like all the normal house details And then I can log in. I can make an offer. And then I see people who are making offers, but then there I see people who are also commenting, like, is there electric heating system baseboard or something

And then there's some details about it, like all the normal house details And then I can log in. I can make an offer. And then I see people who are making offers, but then there I see people who are also commenting, like, is there electric heating system baseboard or something

22:00

else? And, do you see replies from, like, I assume either the owner or the agent,

else? And, do you see replies from, like, I assume either the owner or the agent,

22:05

like, answering questions in the chat here while people are bidding a hundred thousand, one hundred one thousand, one hundred and two thousand. And that's currently at a hundred and three thousand is the It's neat. Right? It's even for houses. Yeah. And, yeah, but it's a little bit different than eBay. It's, a little bit different, but, yeah, that is but it the reason it's one of the reasons why I think this can exist is let's say you're buying a house for half a million dollars and they do, like, a first and final offer process where everyone submits their offer on a Friday, If you're paying half a million dollars for a house and you see that the winning bid was five zero five, you're like, well, fuck. If you guys would have told me, I would have bet five ten and you would have made more money and I would have got what I wanted. Right. And so it's kinda trying to solve for that. But let me explain to you why I think this could be cool. So first, I'm the founder was pretty interesting. He's a military guy, so I like military folks. He also started, stay Alfred. You know, stay Alfred? By the way, we should we should highlight the groups that we are inherently biased to invest in. Mormons,

like, answering questions in the chat here while people are bidding a hundred thousand, one hundred one thousand, one hundred and two thousand. And that's currently at a hundred and three thousand is the It's neat. Right? It's even for houses. Yeah. And, yeah, but it's a little bit different than eBay. It's, a little bit different, but, yeah, that is but it the reason it's one of the reasons why I think this can exist is let's say you're buying a house for half a million dollars and they do, like, a first and final offer process where everyone submits their offer on a Friday, If you're paying half a million dollars for a house and you see that the winning bid was five zero five, you're like, well, fuck. If you guys would have told me, I would have bet five ten and you would have made more money and I would have got what I wanted. Right. And so it's kinda trying to solve for that. But let me explain to you why I think this could be cool. So first, I'm the founder was pretty interesting. He's a military guy, so I like military folks. He also started, stay Alfred. You know, stay Alfred? By the way, we should we should highlight the groups that we are inherently biased to invest in. Mormons,

22:58

military guys, Russians.

military guys, Russians.

23:00

Yeah. June

Yeah. June

23:02

What else are you guys? Israeli Jews is what we said. Right. You know, who else? Immigraines. I'm always partial to immigrants. Any any immigrant

What else are you guys? Israeli Jews is what we said. Right. You know, who else? Immigraines. I'm always partial to immigrants. Any any immigrant

23:10

anybody who's lived in the US illegally,

anybody who's lived in the US illegally,

23:13

you know, for a period of time, anybody

you know, for a period of time, anybody

23:15

who is, you know, a single parent, I'm in, You did you already did the hardest thing of your life. Mackenzie.

who is, you know, a single parent, I'm in, You did you already did the hardest thing of your life. Mackenzie.

23:21

Oh, Mackenzie. No. That's that's a that's a no for me. The, the other ones that I I guess, like, are are almost, like, I lean in. I'm a little bit interested. It's like, oh, how'd you what were you doing? Like, when you were younger, and it's like, Well, I was, like, you know, flipping cars or I was flipping shoes on eBay or,

Oh, Mackenzie. No. That's that's a that's a no for me. The, the other ones that I I guess, like, are are almost, like, I lean in. I'm a little bit interested. It's like, oh, how'd you what were you doing? Like, when you were younger, and it's like, Well, I was, like, you know, flipping cars or I was flipping shoes on eBay or,

23:38

I kinda don't wanna say because I was, like, this affiliate marketer for these, Shady dating site? I'm like, no. No. No. You don't understand. That's like Shady internet

I kinda don't wanna say because I was, like, this affiliate marketer for these, Shady dating site? I'm like, no. No. No. You don't understand. That's like Shady internet

23:47

arbitrager.

arbitrager.

23:48

So this guy started Stay Alfred, which was, like, you know, Sonder. It's like a competitor to Sonder where they would, like, rent out entire buildings and then sublease them for,

So this guy started Stay Alfred, which was, like, you know, Sonder. It's like a competitor to Sonder where they would, like, rent out entire buildings and then sublease them for,

23:58

Work travel, got to a hundred million in revenue, raised sixty million dollars, crashed and burned in my out of business. And you know what? That's awesome.

Work travel, got to a hundred million in revenue, raised sixty million dollars, crashed and burned in my out of business. And you know what? That's awesome.

24:06

I love that. So that's initially why I was interested. I told him I love bringing trailer and he goes, oh, great. Their co founder works here. And so does three other team breaker trailer sold the rumors, like, half a million dollars.

I love that. So that's initially why I was interested. I told him I love bringing trailer and he goes, oh, great. Their co founder works here. And so does three other team breaker trailer sold the rumors, like, half a million dollars.

24:18

And since two thousand a billion. Half sorry. Half a billion. Since two thousand and twelve, I remember in two thousand twelve, I was playing around with,

And since two thousand a billion. Half sorry. Half a billion. Since two thousand and twelve, I remember in two thousand twelve, I was playing around with,

24:26

real estate stuff online, and I thought homes should be bought and sold online. Just like we buy and sell clothing. And I a lot of people in with rumor, you can actually still go and see the house in a open home, like, at a open house,

real estate stuff online, and I thought homes should be bought and sold online. Just like we buy and sell clothing. And I a lot of people in with rumor, you can actually still go and see the house in a open home, like, at a open house,

24:38

but in my mind, I still think that in ten, twenty, thirty years, it will be normal actually to buy a house site on scene, even though a lot of people don't think that. Now I think, I think that'll be the case. And check this out. So so why would I okay. So let's say,

but in my mind, I still think that in ten, twenty, thirty years, it will be normal actually to buy a house site on scene, even though a lot of people don't think that. Now I think, I think that'll be the case. And check this out. So so why would I okay. So let's say,

24:51

say I'm a seller. So why would I sell here when I feel like, okay. I'm gonna have this thirteen hour auction. I don't know what's gonna happen. Do I have to take the offers or do I just reject all? Yeah. You can have a reserve.

say I'm a seller. So why would I sell here when I feel like, okay. I'm gonna have this thirteen hour auction. I don't know what's gonna happen. Do I have to take the offers or do I just reject all? Yeah. You can have a reserve.

25:03

Okay. Great. And then,

Okay. Great. And then,

25:04

is it because I think I'm gonna get a higher price or because I save money through the fees? Or what's the reason I choose this over, like, traditional help listings? Yeah. The, higher price. That's the goal. Higher price by creating, like, like, Did they take the same fee as, like, a normal five percent or whatever agent fee? They take less because what the problem with real estate is the agents are still, like, integral. Like, they're still very important to the industry. If you cut the agents out, then the agent's room. Like, oh, fuck you guys. I'm gonna badmouth you. I'm gonna make sure no one ever uses them. So they actually get the agent in on the deal, and they just, like, make the agents job a little bit better. And a little bit easier.

is it because I think I'm gonna get a higher price or because I save money through the fees? Or what's the reason I choose this over, like, traditional help listings? Yeah. The, higher price. That's the goal. Higher price by creating, like, like, Did they take the same fee as, like, a normal five percent or whatever agent fee? They take less because what the problem with real estate is the agents are still, like, integral. Like, they're still very important to the industry. If you cut the agents out, then the agent's room. Like, oh, fuck you guys. I'm gonna badmouth you. I'm gonna make sure no one ever uses them. So they actually get the agent in on the deal, and they just, like, make the agents job a little bit better. And a little bit easier.

25:39

Right.

Right.

25:41

And so we'll see if it works. But let me explain

And so we'll see if it works. But let me explain

25:43

two things. First is we invested

two things. First is we invested

25:46

along and the reason why I was intrigued is all of stay Alfred's competitors, this guy's whole company, all the CEOs,

along and the reason why I was intrigued is all of stay Alfred's competitors, this guy's whole company, all the CEOs,

25:52

all invested in this company. And I was like, that's kind of an interesting signal. Right. If your competitors

all invested in this company. And I was like, that's kind of an interesting signal. Right. If your competitors

25:58

respect you, like, I'll bet on your next thing, that means something. End, they were all real estate guys. So this is still related to that business business. So I was like, that's intriguing. Second, so I I invested, and then I get a call. Jordan calls, maybe the guy who's starting this, he goes, Adam Newman just put two million bucks in. I was like, fucking a. Got it. Like, I think that's pretty good. I think that's a good sign. Why is that a good sign? Cause some people would think that's a bad sign? No. No. No. No. First of all, like, I'm not saying what Adam did is great. I frankly don't even know the entire story, but I I I'm pretty He's the the founder of WeWork

respect you, like, I'll bet on your next thing, that means something. End, they were all real estate guys. So this is still related to that business business. So I was like, that's intriguing. Second, so I I invested, and then I get a call. Jordan calls, maybe the guy who's starting this, he goes, Adam Newman just put two million bucks in. I was like, fucking a. Got it. Like, I think that's pretty good. I think that's a good sign. Why is that a good sign? Cause some people would think that's a bad sign? No. No. No. No. First of all, like, I'm not saying what Adam did is great. I frankly don't even know the entire story, but I I I'm pretty He's the the founder of WeWork

26:28

like, kind of like, whatever, did a bunch of shit and ended up walking away. Kinda like drove the company into a weird spot and and and was accused of a lot of things. And then he walked away, you know, pretty wealthy as part of the his agreement to leave. And my thing is Adam Newman, regardless, let's say he did a lot of bad stuff. Let's say he was unethical. Let's say all that's true. I'm not it is, but let's for argument's sake say it is. He's still built something huge and amazing in a very short amount of time and has access to all types of stuff and sees all types stuff. So I think if he's interested, it's a good Right.

like, kind of like, whatever, did a bunch of shit and ended up walking away. Kinda like drove the company into a weird spot and and and was accused of a lot of things. And then he walked away, you know, pretty wealthy as part of the his agreement to leave. And my thing is Adam Newman, regardless, let's say he did a lot of bad stuff. Let's say he was unethical. Let's say all that's true. I'm not it is, but let's for argument's sake say it is. He's still built something huge and amazing in a very short amount of time and has access to all types of stuff and sees all types stuff. So I think if he's interested, it's a good Right.

26:59

And then why can they fail? I think if they execute this poorly, it's gonna, it's gonna be bad. I also think that,

And then why can they fail? I think if they execute this poorly, it's gonna, it's gonna be bad. I also think that,

27:06

like, oh, I put I put it could be if they raise too much money. I actually don't think that's gonna be the case. I think they have to actually this company's gonna have to raise a ton a ton a ton a ton of money

like, oh, I put I put it could be if they raise too much money. I actually don't think that's gonna be the case. I think they have to actually this company's gonna have to raise a ton a ton a ton a ton of money

27:14

What can make this fail? I don't know. Maybe if Zillow offers this. Well, also, I think it's a new behavior. And anytime you're betting on a new behavior, that's, like, the risk of it failing is that, like, maybe people won't wanna buy the house sight unseen or maybe people won't wanna sell the house. In this way, they want their handheld through a process because it's the biggest asset in their life, and they, they don't wanna risk it, which is And

What can make this fail? I don't know. Maybe if Zillow offers this. Well, also, I think it's a new behavior. And anytime you're betting on a new behavior, that's, like, the risk of it failing is that, like, maybe people won't wanna buy the house sight unseen or maybe people won't wanna sell the house. In this way, they want their handheld through a process because it's the biggest asset in their life, and they, they don't wanna risk it, which is And

27:36

You can buy this.

You can buy this.

27:37

You can go this is not entirely sight unseen.

You can go this is not entirely sight unseen.

27:40

Right. But, yeah, it's a new behavior. There's a lot of new stuff about it. But my thing was, like, when I was doing the math, I'm, like, you don't need that much volume to build something quite large. And one once you have the home on there, you could upsell, like, property,

Right. But, yeah, it's a new behavior. There's a lot of new stuff about it. But my thing was, like, when I was doing the math, I'm, like, you don't need that much volume to build something quite large. And one once you have the home on there, you could upsell, like, property,

27:54

assessment, or what's it called?

assessment, or what's it called?

27:56

Inspections. I think you can upsell. I just thought it was interesting. I think that you closing. So so one thing that's good here is you you don't want all your bets to be logical,

Inspections. I think you can upsell. I just thought it was interesting. I think that you closing. So so one thing that's good here is you you don't want all your bets to be logical,

28:07

clear, good ideas because that means your risk profile wasn't right with start investing. You need a few ideas

clear, good ideas because that means your risk profile wasn't right with start investing. You need a few ideas

28:13

that

that

28:14

you know, sound like they're gonna fail when you when you invest in them and then you either either they fail and you're like, yeah. Well, duh, or you end up looking like a genius six years later, seven years later because that non obvious contrarian idea

you know, sound like they're gonna fail when you when you invest in them and then you either either they fail and you're like, yeah. Well, duh, or you end up looking like a genius six years later, seven years later because that non obvious contrarian idea

28:26

turned out to be something people actually wanted to do turned out to be a new behavior people were willing to do. And so I think it's good to have I I this was the one note I told my team, who, like, helped me with investing. I said, I don't think we're taking weird enough bets. I don't think we're taking well enough bets because,

turned out to be something people actually wanted to do turned out to be a new behavior people were willing to do. And so I think it's good to have I I this was the one note I told my team, who, like, helped me with investing. I said, I don't think we're taking weird enough bets. I don't think we're taking well enough bets because,

28:43

that's where the big outsize crazy returns are gonna be is in things that are non

that's where the big outsize crazy returns are gonna be is in things that are non

28:49

not obvious today, you know, like low valuation, not everybody wants to invest in them that sort of thing.

not obvious today, you know, like low valuation, not everybody wants to invest in them that sort of thing.

28:55

Do you did you do SACE?

Do you did you do SACE?

28:58

Yes. Is that interest you to talk about or no?

Yes. Is that interest you to talk about or no?

29:01

We've kinda talked about them before. I wanna talk about We'll do another one. Wanna do one. Okay. You'll kinda I think you'll like this one. I think you'll want in on this one although it might be too late.

We've kinda talked about them before. I wanna talk about We'll do another one. Wanna do one. Okay. You'll kinda I think you'll like this one. I think you'll want in on this one although it might be too late.

29:09

So it's called One Build. So what one build is is here's the problem as the guy describes. So I taught so I meet the guy. How'd you meet him?

So it's called One Build. So what one build is is here's the problem as the guy describes. So I taught so I meet the guy. How'd you meet him?

29:18

Ben or Zach found him. And then they really liked him, and they were like, hey. You really gotta talk to this guy. So I said, okay. Great. Let's do it. And, I forgot I don't know how they found him. I think he was, like, in some YC patch or something like that. So so, basically, I talked to this guy, and he's like, yeah, I I was working at cloud kitchens, the the startup started by Travis Clinic. He's like, I was one of the twenty people there. And my job was, like, you know, they wanted to go build out all these cloud kits all these kitchens around the world, and they were like, alright. You know, we wanna build this ten million dollar project. We wanna build this twenty million dollar project. And he's like, I'm a data guy. Like, my background is, like, data science. And they were like, look, We need you to, like, be intelligent about how we're gonna, like, plan out these builds. We're trying to spend this much this year. It's a big number. So, like, help us out with the data side of building out So he's like, alright. No problem. How hard could it be? And, he goes into it and he's like, okay. Great. So, we have this let's say, we're doing this deal and we're trying to build out this kitchen in Seattle.

Ben or Zach found him. And then they really liked him, and they were like, hey. You really gotta talk to this guy. So I said, okay. Great. Let's do it. And, I forgot I don't know how they found him. I think he was, like, in some YC patch or something like that. So so, basically, I talked to this guy, and he's like, yeah, I I was working at cloud kitchens, the the startup started by Travis Clinic. He's like, I was one of the twenty people there. And my job was, like, you know, they wanted to go build out all these cloud kits all these kitchens around the world, and they were like, alright. You know, we wanna build this ten million dollar project. We wanna build this twenty million dollar project. And he's like, I'm a data guy. Like, my background is, like, data science. And they were like, look, We need you to, like, be intelligent about how we're gonna, like, plan out these builds. We're trying to spend this much this year. It's a big number. So, like, help us out with the data side of building out So he's like, alright. No problem. How hard could it be? And, he goes into it and he's like, okay. Great. So, we have this let's say, we're doing this deal and we're trying to build out this kitchen in Seattle.

30:11

And the estimate is, like, ten million. But, like, it could be plus or minus,

And the estimate is, like, ten million. But, like, it could be plus or minus,

30:16

like, four or five million. And that's a pretty big difference. Like, if it's team. It's different than ten, which is different than six. So, like, which one is it? And the guys were like, well, like, it depends. Like, it depends on what. He's like, it depends on the cost of construction. And he's like, okay. Well, what does that depend on? And it all comes down to, like, one one of the biggest variables is material costs. So there are many ways that your construction costs can go out of whack, like, you don't get the permits in time, and so this it gets delayed, labor,

like, four or five million. And that's a pretty big difference. Like, if it's team. It's different than ten, which is different than six. So, like, which one is it? And the guys were like, well, like, it depends. Like, it depends on what. He's like, it depends on the cost of construction. And he's like, okay. Well, what does that depend on? And it all comes down to, like, one one of the biggest variables is material costs. So there are many ways that your construction costs can go out of whack, like, you don't get the permits in time, and so this it gets delayed, labor,

30:41

errors. But one big one is materials. And so he was like, he was like, okay. Well, how hard can that be? Like, let's just figure out the material cost and let's just spec it out. And they're like, no. No. No. It doesn't work like that. Like, Here's the spec. Here's the plan, like a construction plan. And now to cost this, you either you need to hire a cost estimator. And what they do and what you would do if you wanted to do this yourself is there's this book that gets printed once a year, which is like the this is like the big the blue book of, like, all materials cost. Like, if you want a three foot piece of lumber, it's gonna cost you this much. But, like, as anybody seen, especially during COVID, like, material costs, like, lumber has, like, had huge amounts of variance. I don't know if you've seen this, but, like Yeah. Yeah. Yeah. Like, you know, a a truck carrying lumber is like, like, right now, it's like a truck carrying bricks of gold. It's like if you robbed that truck, you would have, like, so much value right now because lumber was so expensive. And so he's like, the problem is that there's no real time data.

errors. But one big one is materials. And so he was like, he was like, okay. Well, how hard can that be? Like, let's just figure out the material cost and let's just spec it out. And they're like, no. No. No. It doesn't work like that. Like, Here's the spec. Here's the plan, like a construction plan. And now to cost this, you either you need to hire a cost estimator. And what they do and what you would do if you wanted to do this yourself is there's this book that gets printed once a year, which is like the this is like the big the blue book of, like, all materials cost. Like, if you want a three foot piece of lumber, it's gonna cost you this much. But, like, as anybody seen, especially during COVID, like, material costs, like, lumber has, like, had huge amounts of variance. I don't know if you've seen this, but, like Yeah. Yeah. Yeah. Like, you know, a a truck carrying lumber is like, like, right now, it's like a truck carrying bricks of gold. It's like if you robbed that truck, you would have, like, so much value right now because lumber was so expensive. And so he's like, the problem is that there's no real time data.

31:35

And he said, so that's what I decided to leave and go build is basically an API

And he said, so that's what I decided to leave and go build is basically an API

31:40

that will give you real time material pricing for construction. So all you do is you upload what your what your,

that will give you real time material pricing for construction. So all you do is you upload what your what your,

31:46

your construction plan is. And then it basically gives you an accurate real time cost of it. And then if that's changing over time, you'll see how it's changing.

your construction plan is. And then it basically gives you an accurate real time cost of it. And then if that's changing over time, you'll see how it's changing.

31:55

Week by week day by day. And companies who are building,

Week by week day by day. And companies who are building,

31:59

I don't know any of the companies, but companies who are building

I don't know any of the companies, but companies who are building

32:03

construction

construction

32:04

companies who work in the construction business who are who are designing stuff, they will use one build software

companies who work in the construction business who are who are designing stuff, they will use one build software

32:10

to integrate with their software. So it says in real time, how much is this costing? Exactly. So so, basically, you upload your construction plan? And there's Yeah. They're selling straight to the to the company. They're they're selling to the builder and to cost estimators who do this as their job. It's like, hey, here's a way to do your job faster. But I think over time, my my sense is that over time it eliminates the need for cost estimators as a profession.

to integrate with their software. So it says in real time, how much is this costing? Exactly. So so, basically, you upload your construction plan? And there's Yeah. They're selling straight to the to the company. They're they're selling to the builder and to cost estimators who do this as their job. It's like, hey, here's a way to do your job faster. But I think over time, my my sense is that over time it eliminates the need for cost estimators as a profession.

32:32

But but I think you know, the main thing is if you're a contractor, whether you're if you're building your own project, you wanna know what are my real costs gonna be, and you wanna know how those change over time, And then, oh, if we swap this out for this, how does that change our pricing? And then the other thing is, let's say you're a contractor, you had to go bid for a job. If you bid too high. If you put your budget if you put the cost too high, you may not get the job. Right? Because that's your sales pitches. Hey. I'll build it for twelve.

But but I think you know, the main thing is if you're a contractor, whether you're if you're building your own project, you wanna know what are my real costs gonna be, and you wanna know how those change over time, And then, oh, if we swap this out for this, how does that change our pricing? And then the other thing is, let's say you're a contractor, you had to go bid for a job. If you bid too high. If you put your budget if you put the cost too high, you may not get the job. Right? Because that's your sales pitches. Hey. I'll build it for twelve.

32:56

And if twelve is too high of a number, they're gonna give it to some other guy who bid bid eight. But if the guy who bid eight is underestimating it and it actually costs him ten, he has to eat that loss. And so

And if twelve is too high of a number, they're gonna give it to some other guy who bid bid eight. But if the guy who bid eight is underestimating it and it actually costs him ten, he has to eat that loss. And so

33:06

bidding for jobs and accurately bidding for a job is basically, like, a huge part of the sales process of construction. Alright. So what do I like? I like that this problem seems real.

bidding for jobs and accurately bidding for a job is basically, like, a huge part of the sales process of construction. Alright. So what do I like? I like that this problem seems real.

33:17

I talked to a few people in real estate, and they were like, yeah. Of course. This this is, like, this is a huge problem.

I talked to a few people in real estate, and they were like, yeah. Of course. This this is, like, this is a huge problem.

33:22

You know, the just the material cost for construction is twice the amount annually of all of e commerce. So it's, like, Mungous market. I say a multi it's like a trillion dollar plus market of just the of of just material construction costs. And, smart guy, I like their approach I think they're kind of like the leader in that space. It doesn't seem like they have a ton of competition. Like, I don't think

You know, the just the material cost for construction is twice the amount annually of all of e commerce. So it's, like, Mungous market. I say a multi it's like a trillion dollar plus market of just the of of just material construction costs. And, smart guy, I like their approach I think they're kind of like the leader in that space. It doesn't seem like they have a ton of competition. Like, I don't think

33:43

like, what I was saying before about savings at micro saving apps or credit cards. It's like there's a hundred of those startups right now. I don't think there's hundred of this startup.

like, what I was saying before about savings at micro saving apps or credit cards. It's like there's a hundred of those startups right now. I don't think there's hundred of this startup.

33:51

And then they already have some traction. Right? They have seven figures of ARR already booked.

And then they already have some traction. Right? They have seven figures of ARR already booked.

33:55

And so I invested in this thing in their series a. And, and I think there's also a big idea that I like, which is

And so I invested in this thing in their series a. And, and I think there's also a big idea that I like, which is

34:02

after you cost it for them after you say, oh, here's the here's your estimated cost for this. You could also just add a buy button down the road and then be like, cool. Purchase all those supplies and and actually build a marketplace where suppliers can sell the supplies through their thing because the person's already at the at the at the they already have their invoice, basically ready ready to buy. It sounded amazing.

after you cost it for them after you say, oh, here's the here's your estimated cost for this. You could also just add a buy button down the road and then be like, cool. Purchase all those supplies and and actually build a marketplace where suppliers can sell the supplies through their thing because the person's already at the at the at the they already have their invoice, basically ready ready to buy. It sounded amazing.

34:22

The thing it can fail. Right? So why would I hesitate?

The thing it can fail. Right? So why would I hesitate?

34:25

First, evaluation was higher. So it was, like, at a

First, evaluation was higher. So it was, like, at a

34:28

over fifty million dollars evaluation.

over fifty million dollars evaluation.

34:32

You know, so I put in a hundred k. I don't own a big piece of but I want it in rather than being on the outside. And then the second thing is I think construction

You know, so I put in a hundred k. I don't own a big piece of but I want it in rather than being on the outside. And then the second thing is I think construction

34:39

is a pretty old school industry. It's all pen and paper, like,

is a pretty old school industry. It's all pen and paper, like,

34:42

That trillion dollars of material purchasing is all done just through pen and paper offline right now. And so bringing it online can be a brutally hard thing to do.

That trillion dollars of material purchasing is all done just through pen and paper offline right now. And so bringing it online can be a brutally hard thing to do.

34:51

I'm looking at Momentaprop.

I'm looking at Momentaprop.

34:53

I'm seeing who all invested in these folks. I think I maybe I know some of these people,

I'm seeing who all invested in these folks. I think I maybe I know some of these people,

34:57

who's leading this series a

who's leading this series a

35:00

you know, I don't actually know. I don't remember off of my head.

you know, I don't actually know. I don't remember off of my head.

35:04

Wow. This is sick. This is a cool one. If they're still raising, I would talk to them in a harpy. My fear

Wow. This is sick. This is a cool one. If they're still raising, I would talk to them in a harpy. My fear

35:10

about this, like, if I had to, like, say what the downsides are is can you easily replicate this? Like, can I don't think so because what they're doing is not just the it's not just the app that says, great? You know, upload your thing and get your cost. It's like, where does that data even live? So this is, like, you know that company Climate Corporation that basically, uh-uh,

about this, like, if I had to, like, say what the downsides are is can you easily replicate this? Like, can I don't think so because what they're doing is not just the it's not just the app that says, great? You know, upload your thing and get your cost. It's like, where does that data even live? So this is, like, you know that company Climate Corporation that basically, uh-uh,

35:30

like, what they did was they basically organized

like, what they did was they basically organized

35:32

all that agriculture weather data

all that agriculture weather data

35:35

Soul for billions. Sold it for billions. And, basically, what they offered to, like, you know, pay farmers, like, here's all, you know, farmers and others. It's basically, like, we took this unstructured

Soul for billions. Sold it for billions. And, basically, what they offered to, like, you know, pay farmers, like, here's all, you know, farmers and others. It's basically, like, we took this unstructured

35:45

offline data, and we made it structured and online. So, for example,

offline data, and we made it structured and online. So, for example,

35:49

they're first taking all of the material call all of the materials, and they're turning them into SKUs. Like, if you've ever done e commerce, SKU is just like, you know, if you're at a grocery store, a Hershey's chocolate bar, that's one skew. And then a twix bar will be another skew. And the large twix bar is another skew. So, basically, they took every thing you can buy in construction, and they're turning them all into SKUs first. So first, that's the first step. Then they have to get the price feeds. Okay. How are we gonna get real time price data on all these things when prices vary from supplier to supplier vendor to vendor. And so then they're they have to do that. And then they have to turn that whole thing into an API that, like, can be queried easily and get accurate pricing. And so so I think they have a I think that's the real innovation here is being the one to organize and collect all that data.

they're first taking all of the material call all of the materials, and they're turning them into SKUs. Like, if you've ever done e commerce, SKU is just like, you know, if you're at a grocery store, a Hershey's chocolate bar, that's one skew. And then a twix bar will be another skew. And the large twix bar is another skew. So, basically, they took every thing you can buy in construction, and they're turning them all into SKUs first. So first, that's the first step. Then they have to get the price feeds. Okay. How are we gonna get real time price data on all these things when prices vary from supplier to supplier vendor to vendor. And so then they're they have to do that. And then they have to turn that whole thing into an API that, like, can be queried easily and get accurate pricing. And so so I think they have a I think that's the real innovation here is being the one to organize and collect all that data.

36:34

Then after that, really, anybody can build an app deck, just them, hey, what's the price of lumber right now in Tucson, Arizona for this size of this type of lumber, and they should get back an answer. And then if that changes in three months, they should get that change notification, that the price is increasing.

Then after that, really, anybody can build an app deck, just them, hey, what's the price of lumber right now in Tucson, Arizona for this size of this type of lumber, and they should get back an answer. And then if that changes in three months, they should get that change notification, that the price is increasing.

36:48

That's sick. I'm into this. I'm looking at all this now. I'm taking down notes. I think this is amazing. I'm into this one a lot.

That's sick. I'm into this. I'm looking at all this now. I'm taking down notes. I think this is amazing. I'm into this one a lot.

36:54

You wanna do one more you like or one more interesting one? Here's a boring one. Let me let me look. Let's do a boring one. Okay. So I actually included this email in here because I wanted to show it, and I blacked out,

You wanna do one more you like or one more interesting one? Here's a boring one. Let me let me look. Let's do a boring one. Okay. So I actually included this email in here because I wanted to show it, and I blacked out,

37:06

a couple things, so don't read those things. But This one's, like, boring. It's not a seed investment, but I just wanted people to see how this worked.

a couple things, so don't read those things. But This one's, like, boring. It's not a seed investment, but I just wanted people to see how this worked.

37:13

So my friend,

So my friend,

37:15

Nathan Barry,

Nathan Barry,

37:16

Nathan Barry started this company called ConvertKit. You know ConvertKit?

Nathan Barry started this company called ConvertKit. You know ConvertKit?

37:19

I'm a user. Yeah. I pay them a couple bucks a year. Love ConvertKit. If you Google convert kit revenue. You could see all their metrics, all their numbers. It's amazing.

I'm a user. Yeah. I pay them a couple bucks a year. Love ConvertKit. If you Google convert kit revenue. You could see all their metrics, all their numbers. It's amazing.

37:27

Nathan is you know, he's young. He's, like, twenty eight, maybe. Right.

Nathan is you know, he's young. He's, like, twenty eight, maybe. Right.

37:30

But he, like, comes off away older. He owns, I think, almost the entire company. So ConvertKit is like a Mailchimp competitor, but slightly different. I don't you it's hard to explain unless you're an email marketing nerd. But it's just like Mailchimp. It's just like HubSpot. It's just like a lot of these companies, but geared particularly,

But he, like, comes off away older. He owns, I think, almost the entire company. So ConvertKit is like a Mailchimp competitor, but slightly different. I don't you it's hard to explain unless you're an email marketing nerd. But it's just like Mailchimp. It's just like HubSpot. It's just like a lot of these companies, but geared particularly,

37:45

I believe towards bloggers.

I believe towards bloggers.

37:47

And He has grown the company very steady for a bunch of years, and he asked me, if I wanted to buy some secondary at a seven x multiple So their revenue is twenty eight million, and he's raising at seven x that. What's that? I I don't even know.

And He has grown the company very steady for a bunch of years, and he asked me, if I wanted to buy some secondary at a seven x multiple So their revenue is twenty eight million, and he's raising at seven x that. What's that? I I don't even know.

38:03

Three hundred Two two hundred million. Two hundred million dollars.

Three hundred Two two hundred million. Two hundred million dollars.

38:06

I invested. I thought I invested fifty thousand dollars of my own money. And the reason why do that. I would do that in a heartbeat. Yeah. Well, you want to? Yeah. I do want to. That's great. It's like no brainer. Alright. I'll make an intro. Hold on. Let me write this. I I I know the guy, but, yeah. I I didn't know what to do. Might be making intro so I get credit.

I invested. I thought I invested fifty thousand dollars of my own money. And the reason why do that. I would do that in a heartbeat. Yeah. Well, you want to? Yeah. I do want to. That's great. It's like no brainer. Alright. I'll make an intro. Hold on. Let me write this. I I I know the guy, but, yeah. I I didn't know what to do. Might be making intro so I get credit.

38:23

So he owes me one.

So he owes me one.

38:25

So the way that it worked was, he goes, Nathan emailed me about a week ago. He goes, funny story. After you and I talked on how secondary liquidity works on my podcast.

So the way that it worked was, he goes, Nathan emailed me about a week ago. He goes, funny story. After you and I talked on how secondary liquidity works on my podcast.

38:35

I guess I could say his name. Dharmesh heard the episode. Dharmesh is the founder of Hubspot who's gonna be on in a few days. Heard the podcast and he reached out saying if you could buy x worth of shares directly from our shareholders. After surveying former and current teammates who sold hold stock options, we're putting together a secondary round seven times ARR,

I guess I could say his name. Dharmesh heard the episode. Dharmesh is the founder of Hubspot who's gonna be on in a few days. Heard the podcast and he reached out saying if you could buy x worth of shares directly from our shareholders. After surveying former and current teammates who sold hold stock options, we're putting together a secondary round seven times ARR,

38:51

and we're looking to raise two point five million in total with two point o five so two million already committed.

and we're looking to raise two point five million in total with two point o five so two million already committed.

38:57

ARR is twenty eight million. Net revenue is twenty seven point three million, which is up thirty four percent, revenue churn, three point eight percent, customers, thirty six thousand,

ARR is twenty eight million. Net revenue is twenty seven point three million, which is up thirty four percent, revenue churn, three point eight percent, customers, thirty six thousand,

39:07

profit this year, eleven percent, twelve percent profit. He sent me that email, and I just said, oh, here's what I replied. I go, how will I get liquidity? He goes, I'm either going to keep buying more companies,

profit this year, eleven percent, twelve percent profit. He sent me that email, and I just said, oh, here's what I replied. I go, how will I get liquidity? He goes, I'm either going to keep buying more companies,

39:19

and you can and then I'll go public or I'm gonna do more offerings in the future to sell. Yeah. And I go, great. In fifty thousand. Right.

and you can and then I'll go public or I'm gonna do more offerings in the future to sell. Yeah. And I go, great. In fifty thousand. Right.

39:28

Yeah.

Yeah.

39:29

That and and so here's my thinking. My thinking is I put super safe. Right? Like, the the odds of this going south are

That and and so here's my thinking. My thinking is I put super safe. Right? Like, the the odds of this going south are

39:37

under sub five percent easily. And I and so this is my safe bet. So to me, this is not an so the way that I'm doing my net worth is one percentage of the vast majority, let's say ninety five percent is

under sub five percent easily. And I and so this is my safe bet. So to me, this is not an so the way that I'm doing my net worth is one percentage of the vast majority, let's say ninety five percent is

39:50

in,

in,

39:51

index funds,

index funds,

39:53

boring.

boring.

39:53

Five percent is going to be in Angel investing.

Five percent is going to be in Angel investing.

39:57

And this

And this

40:00

this is considered private equity, I guess. It's but it's not Angel investing to me. Right. But it's more of the boring stuff. This goes in your boring stuff budget. Yes. But it's not quite boring. Like, I can't sell it overnight, but I know Nathan. He's trustworthy. He's ethical. He's amazing. I've been asking to invest in him since he started the company. Right. So I put fifty grand of my own money in this, and this is gonna come straight from this is coming out of, like, the boring

this is considered private equity, I guess. It's but it's not Angel investing to me. Right. But it's more of the boring stuff. This goes in your boring stuff budget. Yes. But it's not quite boring. Like, I can't sell it overnight, but I know Nathan. He's trustworthy. He's ethical. He's amazing. I've been asking to invest in him since he started the company. Right. So I put fifty grand of my own money in this, and this is gonna come straight from this is coming out of, like, the boring

40:22

pool. What do you think about this? You like this? I I like it a lot. Yeah. I think that, this is a really defensible stable company.

pool. What do you think about this? You like this? I I like it a lot. Yeah. I think that, this is a really defensible stable company.

40:29

There's a lot of people that are super interested in, you know, email software. There's, like, bigger companies And then there's, like, the sub stacks of the world that are trying to do things, but,

There's a lot of people that are super interested in, you know, email software. There's, like, bigger companies And then there's, like, the sub stacks of the world that are trying to do things, but,

40:37

I've used all their products. ConvertKit is the best product out there of the of this batch.

I've used all their products. ConvertKit is the best product out there of the of this batch.

40:42

Once you're once you're hooked on it, it's hard to stop paying. In fact, I told my team, I was like, hey, guys, our ConvertKit bill is, like, two two two to three grand a year.

Once you're once you're hooked on it, it's hard to stop paying. In fact, I told my team, I was like, hey, guys, our ConvertKit bill is, like, two two two to three grand a year.

40:52

Like, we should just isn't there, like, a free thing that will just let us do all this? I feel like email softwares everywhere.

Like, we should just isn't there, like, a free thing that will just let us do all this? I feel like email softwares everywhere.

40:57

Then sure enough they go kick the tires of a bunch of different things. They're like, ah, we can switch. We can get it cheaper, but we're gonna give up x y and z. It's like, well, x y and z all seem like the important things

Then sure enough they go kick the tires of a bunch of different things. They're like, ah, we can switch. We can get it cheaper, but we're gonna give up x y and z. It's like, well, x y and z all seem like the important things

41:07

I don't wanna give those up. And so so I think he's built a very steady business

I don't wanna give those up. And so so I think he's built a very steady business

41:12

that, you know, today, I think ConvertKit could sell for more than two hundred million. I think I think if you wanted to sell this business today, you could probably sell it for somewhere, like, thirty to forty percent higher than that. That's that'd be my guess.

that, you know, today, I think ConvertKit could sell for more than two hundred million. I think I think if you wanted to sell this business today, you could probably sell it for somewhere, like, thirty to forty percent higher than that. That's that'd be my guess.

41:23

It's just gonna keep growing, I think, twenty five to thirty five percent a year, on the with compounding.

It's just gonna keep growing, I think, twenty five to thirty five percent a year, on the with compounding.

41:28

I can see Nathan being the type of guy, and a lot of people say this I actually believe if he told me this is what he wanted to do was he was like, I I think I'll run it for twenty five years and try to grow at twenty five percent every single year through buying different companies. I'd be like, oh, okay. Cool. I believe you in. Right. And I I believe you're gonna try that, and I believe you're you're capable of that. And we see pretty much every major, like, creator economy deal, and they're all just, like, you I think you're sick of creator economy at this point. I'm very sick of it. There's just so many creator tools and economy startups. And honestly, most of them are not very good. It's like there's more funding in the creator economy startups than there is, like, actual revenue in the creator economy right now. So so there's, like, This there's, like, this, I don't know, overhyped in that space, but this is an actual this is a real business in the creator economy. Right? This is, like, independent creators use this as their, like, back end for sending emails to their audience, bloggers and and newsletter folks. And,

I can see Nathan being the type of guy, and a lot of people say this I actually believe if he told me this is what he wanted to do was he was like, I I think I'll run it for twenty five years and try to grow at twenty five percent every single year through buying different companies. I'd be like, oh, okay. Cool. I believe you in. Right. And I I believe you're gonna try that, and I believe you're you're capable of that. And we see pretty much every major, like, creator economy deal, and they're all just, like, you I think you're sick of creator economy at this point. I'm very sick of it. There's just so many creator tools and economy startups. And honestly, most of them are not very good. It's like there's more funding in the creator economy startups than there is, like, actual revenue in the creator economy right now. So so there's, like, This there's, like, this, I don't know, overhyped in that space, but this is an actual this is a real business in the creator economy. Right? This is, like, independent creators use this as their, like, back end for sending emails to their audience, bloggers and and newsletter folks. And,

42:22

And I think that there's a lot of room to run. Like, the thing I would do if I was him is I would figure out

And I think that there's a lot of room to run. Like, the thing I would do if I was him is I would figure out

42:27

I would go into the click funnels market. I think click funnels is a bigger company at click funnels does over a hundred million a year. Yeah. But they're churning shit.

I would go into the click funnels market. I think click funnels is a bigger company at click funnels does over a hundred million a year. Yeah. But they're churning shit.

42:35

They're churning shit, but, you know, the

They're churning shit, but, you know, the

42:37

I think as a upsell, I think there's a lot of people who use kit that also create landing pages and try to, like, sell stuff. And I think that click funnels is actually one of the better products for doing that, even though it's very janky. It's just it's very effective

I think as a upsell, I think there's a lot of people who use kit that also create landing pages and try to, like, sell stuff. And I think that click funnels is actually one of the better products for doing that, even though it's very janky. It's just it's very effective

42:50

at actually converting people. And I think that that's the way I would go with this,

at actually converting people. And I think that that's the way I would go with this,

42:54

as a, like, as a route to to getting bigger.

as a, like, as a route to to getting bigger.

42:57

But but, yeah, I think there's a pretty safe bet. Well, I already made an introduction, Nathan, in your inbox. Awesome.

But but, yeah, I think there's a pretty safe bet. Well, I already made an introduction, Nathan, in your inbox. Awesome.

43:02

Do you wanna do one more? Yeah. Let's do one more. Okay. I have a crazy one.

Do you wanna do one more? Yeah. Let's do one more. Okay. I have a crazy one.

43:07

I have a crazy one. Actually, can we talk about that other crazy one that you were telling me about? Let's do that one. Let's do that one. Okay. So, what, Cam? His name's Cam. I had this guy reach out to me because he was a volunteer at Hussicon years ago. And I've always stayed in touch with him. I love Cam. He's a nice guy. And I I I thought he would always go places. He emailed me, like, a week ago or a five weeks, like, maybe a month ago. And he's like, I got this idea. I'm gonna build a build a world fair. And I, you and me, Sean are way different. Immediately,

I have a crazy one. Actually, can we talk about that other crazy one that you were telling me about? Let's do that one. Let's do that one. Okay. So, what, Cam? His name's Cam. I had this guy reach out to me because he was a volunteer at Hussicon years ago. And I've always stayed in touch with him. I love Cam. He's a nice guy. And I I I thought he would always go places. He emailed me, like, a week ago or a five weeks, like, maybe a month ago. And he's like, I got this idea. I'm gonna build a build a world fair. And I, you and me, Sean are way different. Immediately,

43:34

I said, nope.

I said, nope.

43:36

Nope. How about like, I I was never even entertaining this. Explained, because I I didn't even really know what the world fair is. So explain what that even means. I'm gonna build a world fair. Because it's, like, it's, I just not imaginative or smart enough to understand these things. You go ahead.

Nope. How about like, I I was never even entertaining this. Explained, because I I didn't even really know what the world fair is. So explain what that even means. I'm gonna build a world fair. Because it's, like, it's, I just not imaginative or smart enough to understand these things. You go ahead.

43:50

So, and actually, if you can link me the link, the, the memo in here, because I think it'll be it'll be useful to But, basically, what I understand is, the World Fair is an event

So, and actually, if you can link me the link, the, the memo in here, because I think it'll be it'll be useful to But, basically, what I understand is, the World Fair is an event

43:58

that happens has has happened, like, you know, seventy years ago, and then twenty years before that would is sort of like the Olympics.

that happens has has happened, like, you know, seventy years ago, and then twenty years before that would is sort of like the Olympics.

44:06

It's basically this world scale event.

It's basically this world scale event.

44:09

And at the same way that, you know, the Olympics, every four years, it happens, and it goes into some country and it, like, you know, some city, it, like, takes over the whole city, and it brings, like, tons and tons, millions and millions of tourists.

And at the same way that, you know, the Olympics, every four years, it happens, and it goes into some country and it, like, you know, some city, it, like, takes over the whole city, and it brings, like, tons and tons, millions and millions of tourists.

44:21

And,

And,

44:22

and and so, you know,

and and so, you know,

44:24

the previous world fair. So here's here's previous world fairs. So Seville, nineteen ninety two, had forty two million attendees,

the previous world fair. So here's here's previous world fairs. So Seville, nineteen ninety two, had forty two million attendees,

44:31

Shanghai twenty ten had seventy three million and Milan in twenty fifteen had twenty three million attendees. So, basically, this guy is trying to throw an event with fifty million attendees.

Shanghai twenty ten had seventy three million and Milan in twenty fifteen had twenty three million attendees. So, basically, this guy is trying to throw an event with fifty million attendees.

44:41

And so that's, like, the that's the premise is, hey, I'm gonna build this event,

And so that's, like, the that's the premise is, hey, I'm gonna build this event,

44:45

and it's gonna have fifty million people attend. And I think I can make billions of dollars. He he he estimates,

and it's gonna have fifty million people attend. And I think I can make billions of dollars. He he he estimates,

44:51

you know, over five billion dollars per fair that he'll generate in in some combination of

you know, over five billion dollars per fair that he'll generate in in some combination of

44:56

tickets plus

tickets plus

44:58

additional spend when you're there,

additional spend when you're there,

45:01

as well as, like, you know, the virtual live stream media rights to the to the thing.

as well as, like, you know, the virtual live stream media rights to the to the thing.

45:05

And,

And,

45:06

and forget about the fact that, like, you know, the,

and forget about the fact that, like, you know, the,

45:10

like, the city itself gets, like, this huge amount of economic activity when you get fifty million people coming to town that generates a lot of economic activity for the city. So his idea is basically go city to city and say, hey, do you want this, like, jump start of economic activity?

like, the city itself gets, like, this huge amount of economic activity when you get fifty million people coming to town that generates a lot of economic activity for the city. So his idea is basically go city to city and say, hey, do you want this, like, jump start of economic activity?

45:25

Host the world, like, put up put your city up and put funding up and put resources up, let me host a a world fair here. So And it's like Disney World on crack I told Cameron this earlier today, and, so he's a listener. So I wanna let him know. I love this guy, and I think he's very competent. I just think this is idea

Host the world, like, put up put your city up and put funding up and put resources up, let me host a a world fair here. So And it's like Disney World on crack I told Cameron this earlier today, and, so he's a listener. So I wanna let him know. I love this guy, and I think he's very competent. I just think this is idea

45:42

I think it's stupid, particularly for, like, a VC budget thing. I have hosted a, like, we're calling this a world's fair venture thing. This is a conference. This is a trade show. Can conferences and trade shows make money? Yeah. They can. But, like, to start Coachella, Coachella makes a hundred million dollars a year, and they've been around for, like, third, you know, twenty years now or a lot of the pluses, twenty years. Like, this is

I think it's stupid, particularly for, like, a VC budget thing. I have hosted a, like, we're calling this a world's fair venture thing. This is a conference. This is a trade show. Can conferences and trade shows make money? Yeah. They can. But, like, to start Coachella, Coachella makes a hundred million dollars a year, and they've been around for, like, third, you know, twenty years now or a lot of the pluses, twenty years. Like, this is

46:07

Oh my god. The degree of difficulty on this is,

Oh my god. The degree of difficulty on this is,

46:11

like, at an insane level, I would say. An insane level.

like, at an insane level, I would say. An insane level.

46:15

So it's so that's the reason not to invest. The reason to invest is also that the degree of difficulty is insane and the person behind this is insane, and it's gonna compete against nobody. And it's sort of this like What do you mean against nobody? If there's tons of these, like, Like, this is a question.

So it's so that's the reason not to invest. The reason to invest is also that the degree of difficulty is insane and the person behind this is insane, and it's gonna compete against nobody. And it's sort of this like What do you mean against nobody? If there's tons of these, like, Like, this is a question.

46:29

I mean, web sum summit did something like this. Like, which you dude, do you wanna compete against the Olympics? What happened to the Olympics last year? Yeah. I that's the thing. Who is competing in Olympics? Nobody it's like what Elon goes and competes against NASA. It's like nobody else is competing against Jeff. There are there. A commonwealth games. There's world championships in different sports. There's all types of stuff. They're they're, you know, who like entrepreneurial. Nobody who's who's trying to do it for capitalism. Basically, nobody's trying to make there was one person Ted Turner, he launched the the common or, what did Ted Turner launch?

I mean, web sum summit did something like this. Like, which you dude, do you wanna compete against the Olympics? What happened to the Olympics last year? Yeah. I that's the thing. Who is competing in Olympics? Nobody it's like what Elon goes and competes against NASA. It's like nobody else is competing against Jeff. There are there. A commonwealth games. There's world championships in different sports. There's all types of stuff. They're they're, you know, who like entrepreneurial. Nobody who's who's trying to do it for capitalism. Basically, nobody's trying to make there was one person Ted Turner, he launched the the common or, what did Ted Turner launch?

46:58

The goodwill games?

The goodwill games?

47:00

Yeah. I don't I mean, is that even did that work? Did it not work? What do what do you know about that? I don't know if it

Yeah. I don't I mean, is that even did that work? Did it not work? What do what do you know about that? I don't know if it

47:05

made profit, but I know that it was a thing. He he invented it because he needed a programming for First TV stations. For TV stations. Yeah. I believe it was called the goodwill games. Anyway, no. I mean, like, do they work? Yeah. They don't not work. It's kinda like, does the American

made profit, but I know that it was a thing. He he invented it because he needed a programming for First TV stations. For TV stations. Yeah. I believe it was called the goodwill games. Anyway, no. I mean, like, do they work? Yeah. They don't not work. It's kinda like, does the American

47:20

pageant work? Like, well, it kinda probably makes money. It's like an annuity. It kinda works, like, every year for forty years, and it does only okay. So so is your okay. What's your criticism? Is your criticism that he's not gonna be able to do it at the scale or that even if you do it at the scale, it's not gonna make that much money. It will never ever ever happen at that scale.

pageant work? Like, well, it kinda probably makes money. It's like an annuity. It kinda works, like, every year for forty years, and it does only okay. So so is your okay. What's your criticism? Is your criticism that he's not gonna be able to do it at the scale or that even if you do it at the scale, it's not gonna make that much money. It will never ever ever happen at that scale.

47:42

I'm just saying that, like, look, like and this is me saying someone betting my own money. Like, I'm not willing to bet my money that it will. I'm willing to bet my money that Cam will do many amazing things. I just think it's, like, literally, like, it's this is, like, it's just, like, against physics. I think, like, like,

I'm just saying that, like, look, like and this is me saying someone betting my own money. Like, I'm not willing to bet my money that it will. I'm willing to bet my money that Cam will do many amazing things. I just think it's, like, literally, like, it's this is, like, it's just, like, against physics. I think, like, like,

47:58

Do you know what I mean? So the most most relatable version of this is the,

Do you know what I mean? So the most most relatable version of this is the,

48:03

summit. Right? So so the guys who created summit, and then they bought the mountain, and they're like, you know, do it I think that's sort of the, like, the closest analog that I know, and I've personally seen. And it's not a good business. That that was not a great business. It's a horrible business. It was nowhere near well, okay. Why are you saying it's a horrible business? They ran out of money multiple times. It doesn't make a profit. The event part, or are you talking about the mountain part? The event, both, all.

summit. Right? So so the guys who created summit, and then they bought the mountain, and they're like, you know, do it I think that's sort of the, like, the closest analog that I know, and I've personally seen. And it's not a good business. That that was not a great business. It's a horrible business. It was nowhere near well, okay. Why are you saying it's a horrible business? They ran out of money multiple times. It doesn't make a profit. The event part, or are you talking about the mountain part? The event, both, all.

48:28

What are you talking about? Ryan will tell you first name. Ryan made all his money selling trade shows and ads for a real estate newsletter and trade show business. That a killer business. Then they invested it in this other thing, and it was just okay. Like, would you wanted to have invested your money? Like, I just is this this buy my mind. I have only a few dollars to pick between x, y, and z. This, like, doesn't even come up on the, like,

What are you talking about? Ryan will tell you first name. Ryan made all his money selling trade shows and ads for a real estate newsletter and trade show business. That a killer business. Then they invested it in this other thing, and it was just okay. Like, would you wanted to have invested your money? Like, I just is this this buy my mind. I have only a few dollars to pick between x, y, and z. This, like, doesn't even come up on the, like,

48:48

I've I'd rather all it on app check docs. Just, like, give me some boring ass software that's just gonna make money for fifty years.

I've I'd rather all it on app check docs. Just, like, give me some boring ass software that's just gonna make money for fifty years.

48:54

So I I agree with you from that point of view. If I'm if I'm gonna invest I'm I'm not personally gonna invest in this. But,

So I I agree with you from that point of view. If I'm if I'm gonna invest I'm I'm not personally gonna invest in this. But,

49:03

I I think from his point of view, from the guy who's building this point of view,

I I think from his point of view, from the guy who's building this point of view,

49:07

I don't know. You could be if you're a lunatic, you can do some kind of amazing things. You can really exceed, like, where others have gone. For example, I know Patty who started a web summit. And, You know him. That's cool. What's he like?

I don't know. You could be if you're a lunatic, you can do some kind of amazing things. You can really exceed, like, where others have gone. For example, I know Patty who started a web summit. And, You know him. That's cool. What's he like?

49:19

Awesome. Awesome guy. Like, you know, should be the whatever of Ireland someday, prime minister president or whatever they have over there. He's amazing. He's a really amazing guy. But at the same same time, if you are trying to build a huge conference, you're gonna approach it very differently than trying to create

Awesome. Awesome guy. Like, you know, should be the whatever of Ireland someday, prime minister president or whatever they have over there. He's amazing. He's a really amazing guy. But at the same same time, if you are trying to build a huge conference, you're gonna approach it very differently than trying to create

49:35

a world fair than trying to create, like, an Olympics.

a world fair than trying to create, like, an Olympics.

49:38

And so I think it is really not that much harder

And so I think it is really not that much harder

49:41

I I think maybe it's it's harder, but it's not that much harder than pulling off what Patty did over seven years of web summit. The good thing with web summit is it was able to iterate. He was able to start super small. Like, oh, great. I got a hundred people to come to Ireland for this conference. And the next year, I got a thousand. Next year, I got ten thousand, and then I get a hundred thousand. Like, he was able to step it up, whereas I don't I think with the World Fair thing,

I I think maybe it's it's harder, but it's not that much harder than pulling off what Patty did over seven years of web summit. The good thing with web summit is it was able to iterate. He was able to start super small. Like, oh, great. I got a hundred people to come to Ireland for this conference. And the next year, I got a thousand. Next year, I got ten thousand, and then I get a hundred thousand. Like, he was able to step it up, whereas I don't I think with the World Fair thing,

50:03

there's no, like, highly world Fair, I don't think. So, I'm not sure

there's no, like, highly world Fair, I don't think. So, I'm not sure

50:07

you know, how he's gonna possibly do this. I yeah. His two his two phases are, phase one, I'd host twenty five million guest, phase two host another twenty five million guest.

you know, how he's gonna possibly do this. I yeah. His two his two phases are, phase one, I'd host twenty five million guest, phase two host another twenty five million guest.

50:18

I

I

50:21

I don't wanna

I don't wanna

50:22

I gotta say props to this guy. Is he, like, young? I hope he's young. It's twenty

I gotta say props to this guy. Is he, like, young? I hope he's young. It's twenty

50:26

six He he propped to this guy for doing this. I gotta give him credit. I'm I'm more into this than you are. I kinda love that a guy's dreaming like this. I also think it's insane and slightly, you know, impossible. You don't put your money in it. I will not put my money into it, but I did put my money into something slightly crazy also.

six He he propped to this guy for doing this. I gotta give him credit. I'm I'm more into this than you are. I kinda love that a guy's dreaming like this. I also think it's insane and slightly, you know, impossible. You don't put your money in it. I will not put my money into it, but I did put my money into something slightly crazy also.

50:44

I put a very small amount, put twenty five k into a, which is, like, below what I would invest in any other startup, into a guy trying to build a startup city. So,

I put a very small amount, put twenty five k into a, which is, like, below what I would invest in any other startup, into a guy trying to build a startup city. So,

50:53

I think that that has better odds of succeeding than the this world fair. Yeah. Does he have rent every month?

I think that that has better odds of succeeding than the this world fair. Yeah. Does he have rent every month?

50:59

Yeah. Well, can I talk about that real quick?

Yeah. Well, can I talk about that real quick?

51:01

The other thing. But, basically,

The other thing. But, basically,

51:03

what this guy's doing so you we've heard about startup cities. Biology came on this podcast, and he kinda said, I think the twenty tens were about crypto, and I think the twenty twenties are gonna be about startup cities. Biology also invested in this. So it's this thing called praxis.

what this guy's doing so you we've heard about startup cities. Biology came on this podcast, and he kinda said, I think the twenty tens were about crypto, and I think the twenty twenties are gonna be about startup cities. Biology also invested in this. So it's this thing called praxis.

51:16

And, basically, what they did was they created this, social network, like, kinda like a club in New York, LA SF, with just a bunch of cool people, like founders, inter people from entertainment, like Hollywood, New York stuff. Circled that shit.

And, basically, what they did was they created this, social network, like, kinda like a club in New York, LA SF, with just a bunch of cool people, like founders, inter people from entertainment, like Hollywood, New York stuff. Circled that shit.

51:29

Yeah. Just like, you know, soho house type shit. And so they host cool parties. So they've just been hosting cool parties, and then basically they were like, awesome. We have the seed community

Yeah. Just like, you know, soho house type shit. And so they host cool parties. So they've just been hosting cool parties, and then basically they were like, awesome. We have the seed community

51:38

of dope people.

of dope people.

51:39

And, you know, a city is basically just like an if you wanna create the next Hollywood, right, you need all that aspiring actors, you need the filmmakers, whatever. If you need if you wanna create the next Silicon Valley, you need the fund the VCs and the entrepreneurs and the engineers to build stuff.

And, you know, a city is basically just like an if you wanna create the next Hollywood, right, you need all that aspiring actors, you need the filmmakers, whatever. If you need if you wanna create the next Silicon Valley, you need the fund the VCs and the entrepreneurs and the engineers to build stuff.

51:53

And so there this guy's premise is basically, like, if you're gonna build a new city, you need to have an a network effect of dope people who wanna be around each other. And, so he's been curating this community for a while. And then they're going to the,

And so there this guy's premise is basically, like, if you're gonna build a new city, you need to have an a network effect of dope people who wanna be around each other. And, so he's been curating this community for a while. And then they're going to the,

52:06

like, Mediterranean,

like, Mediterranean,

52:07

and they're going to these countries. Like, go, hey, Croatia. Can we get, like, a piece of land that's hours. Like, give us this land for free.

and they're going to these countries. Like, go, hey, Croatia. Can we get, like, a piece of land that's hours. Like, give us this land for free.

52:14

That's beautiful land by the ocean,

That's beautiful land by the ocean,

52:17

and let us come up with our own financial regulation

and let us come up with our own financial regulation

52:20

rule of law, and we're not gonna do Croatian law. We're gonna do our own law. And, like, just give us total sovereignty. And in exchange, you own a piece of equity in this land, and we're gonna bring, like, the best American cool kid talent

rule of law, and we're not gonna do Croatian law. We're gonna do our own law. And, like, just give us total sovereignty. And in exchange, you own a piece of equity in this land, and we're gonna bring, like, the best American cool kid talent

52:32

to this, like, start this startup city, basically, to come live here. And, and then we're and, basically, it's a real estate company. That's just building buildings and renting out the the office space, the and all all all the residences to the cool kids. Theoretically,

to this, like, start this startup city, basically, to come live here. And, and then we're and, basically, it's a real estate company. That's just building buildings and renting out the the office space, the and all all all the residences to the cool kids. Theoretically,

52:45

I'm into this.

I'm into this.

52:46

I would have to I would wanna know are the people, like, buttoned up real estate people, or are they, like, people from Burning Man who wear, like, coachella hats all the time

I would have to I would wanna know are the people, like, buttoned up real estate people, or are they, like, people from Burning Man who wear, like, coachella hats all the time

52:56

and,

and,

52:57

you know, like, leather shoes. Like, like, like, like, leather, like, pants. Like, I need to I need to know, like, what they look like and what they're about. If they're buttoned up, maybe I don't want one above you want you want a boat? I agree. Guy who's just gonna he's gonna be out there recruiting the community, and then you need the realistic guy who's like, yeah, yeah, yeah, go do your thing. Let me, let me actually set this thing up so that this works. Right. So and by the way, on their website for practice, Cameron Weiss from the last company, he, remember he started blogging about the world's fair in March sixteen two thousand twenty one. I linked it to you.

you know, like, leather shoes. Like, like, like, like, leather, like, pants. Like, I need to I need to know, like, what they look like and what they're about. If they're buttoned up, maybe I don't want one above you want you want a boat? I agree. Guy who's just gonna he's gonna be out there recruiting the community, and then you need the realistic guy who's like, yeah, yeah, yeah, go do your thing. Let me, let me actually set this thing up so that this works. Right. So and by the way, on their website for practice, Cameron Weiss from the last company, he, remember he started blogging about the world's fair in March sixteen two thousand twenty one. I linked it to you.

53:25

Yeah. He's a member. That's that's that's the kind of dreamers you'll get in this community. So I put us all about the money into it because I'm just really interested to learn. And, like, This is a this is a wild idea that,

Yeah. He's a member. That's that's that's the kind of dreamers you'll get in this community. So I put us all about the money into it because I'm just really interested to learn. And, like, This is a this is a wild idea that,

53:36

you know, I think the portfolio has to have some wild ideas. It cannot just be

you know, I think the portfolio has to have some wild ideas. It cannot just be

53:41

like, things that are easy to understand and easy to, like, imagine working, because I think we'll miss out on the the large outlier winners. So, alright. Pimp your, can people still sign up if you're rolling fun? Yeah. Go to, go to Angelist, type my name in, and then you could you don't even need to email me. You can just subscribe and then I'll email you. So you can invest with me. We're doing we have about four million,

like, things that are easy to understand and easy to, like, imagine working, because I think we'll miss out on the the large outlier winners. So, alright. Pimp your, can people still sign up if you're rolling fun? Yeah. Go to, go to Angelist, type my name in, and then you could you don't even need to email me. You can just subscribe and then I'll email you. So you can invest with me. We're doing we have about four million,

54:02

in formula in a year we invest across about thirty startups.

in formula in a year we invest across about thirty startups.

54:06

And for me, I don't do a rolling fund. I have a syndicate. If you go on to AngelList and type in, like, It's called Hampton VC, because I used to live on a street called Hampton, not because I'm from the Hampton's, but hampton v c dot com. If you just go there, and then just click learn more, you'll get taken straight to the Angelist page and just click apply. And then whenever I have a deal, you just are notified and you can invest or not invest is up to you. And Sam's memos are dope. So you should go subscribe

And for me, I don't do a rolling fund. I have a syndicate. If you go on to AngelList and type in, like, It's called Hampton VC, because I used to live on a street called Hampton, not because I'm from the Hampton's, but hampton v c dot com. If you just go there, and then just click learn more, you'll get taken straight to the Angelist page and just click apply. And then whenever I have a deal, you just are notified and you can invest or not invest is up to you. And Sam's memos are dope. So you should go subscribe

54:31

Well, thank you. By the way, everyone's saying great stuff about power writing.

Well, thank you. By the way, everyone's saying great stuff about power writing.

54:35

Oh, yeah. They love it. I'm putting my heart into it. I I I'm, like, I was, like, too embarrassed if it saw I, like, really, really tried.

Oh, yeah. They love it. I'm putting my heart into it. I I I'm, like, I was, like, too embarrassed if it saw I, like, really, really tried.

54:41

Well, everyone's saying great things. Sarah's class is going live soon, but they're saying great things about it. Alright. We'll talk to you soon.

Well, everyone's saying great things. Sarah's class is going live soon, but they're saying great things about it. Alright. We'll talk to you soon.

54:52

I feel like I could rule the world and know I could be what I want to.

I feel like I could rule the world and know I could be what I want to.

54:57

I put my all in it like the day's all gonna roll. Let's travel never looking back.

I put my all in it like the day's all gonna roll. Let's travel never looking back.

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