00:00

So, basically, we're gonna it's like Shark Tank, but the viewers could invest. And I think, alright, so we're gonna have six startups.

So, basically, we're gonna it's like Shark Tank, but the viewers could invest. And I think, alright, so we're gonna have six startups.

00:06

Each startup gets two minutes to pitch, and then we have up to five minutes to ask questions.

Each startup gets two minutes to pitch, and then we have up to five minutes to ask questions.

00:12

And last time, I don't know if you remember this, Sean, but last time, We the companies that pitched ended up raising, like millions and millions of dollars.

And last time, I don't know if you remember this, Sean, but last time, We the companies that pitched ended up raising, like millions and millions of dollars.

00:26

Alright. What up? Sean, do you play video games? Of course, I play video games. Do you really? Not as much different. I don't really play at all, but,

Alright. What up? Sean, do you play video games? Of course, I play video games. Do you really? Not as much different. I don't really play at all, but,

00:34

I I mean, I just I don't I'm not like a gamer, but do you know what Xbox Cloud is? I didn't know what that was.

I I mean, I just I don't I'm not like a gamer, but do you know what Xbox Cloud is? I didn't know what that was.

00:41

Yeah. Kind of. I don't I'm in the PS. I'm in the PlayStation universe. I don't really use box cloud, but it's like the cloud gaming thing for them. Yeah. I but, basically, I I paid, like, a dollar to play

Yeah. Kind of. I don't I'm in the PS. I'm in the PlayStation universe. I don't really use box cloud, but it's like the cloud gaming thing for them. Yeah. I but, basically, I I paid, like, a dollar to play

00:52

flight sim. Do you know what flight sim is? Yeah. Of course. You probably love that thing. It's awesome. I just started doing it and, like because me and Sarah are thinking about going to Korea, and I'm like, let's just go, like, fly to Seoul right now and see what it's like. It, like, you can fly around, and I paid a dollar for it. And I'm playing on my computer. It's so cool. I've never, like, been a video gamer, but it's awesome.

flight sim. Do you know what flight sim is? Yeah. Of course. You probably love that thing. It's awesome. I just started doing it and, like because me and Sarah are thinking about going to Korea, and I'm like, let's just go, like, fly to Seoul right now and see what it's like. It, like, you can fly around, and I paid a dollar for it. And I'm playing on my computer. It's so cool. I've never, like, been a video gamer, but it's awesome.

01:12

A video gamer?

A video gamer?

01:15

Just gamer.

Just gamer.

01:18

Hello. Fellow Millennials.

Hello. Fellow Millennials.

01:20

Yeah.

Yeah.

01:21

Wait. So do we not see these pictures? What's going on here? So,

Wait. So do we not see these pictures? What's going on here? So,

01:25

I see a bunch of comments. I've got a screen over here. Do you have the the comments set up?

I see a bunch of comments. I've got a screen over here. Do you have the the comments set up?

01:30

Okay. Here we go.

Okay. Here we go.

01:35

And then,

And then,

01:37

I believe

I believe

01:38

Courtney or someone else is gonna control it. So someone's gonna come up and they're gonna pitch for two minutes.

Courtney or someone else is gonna control it. So someone's gonna come up and they're gonna pitch for two minutes.

01:44

Okay. Great. And are we we're really investing money this time.

Okay. Great. And are we we're really investing money this time.

01:49

Maybe.

Maybe.

01:49

I'm not doing it if it's I'm only doing it if it's good. Well, yeah. Only if it's good. Of course, I'm not, not gonna just throw money at something bad, but I'm ready. I got the checkbook out. So I'm ready today. I think fifty hundred thousand dollars would be awesome to deploy if there's a great startup in here but we shall see. What's up? I can see the chat. So let's give out background here. Alright. So this thing, it's called stocks dot com. It's like a live shark tank type of company.

I'm not doing it if it's I'm only doing it if it's good. Well, yeah. Only if it's good. Of course, I'm not, not gonna just throw money at something bad, but I'm ready. I got the checkbook out. So I'm ready today. I think fifty hundred thousand dollars would be awesome to deploy if there's a great startup in here but we shall see. What's up? I can see the chat. So let's give out background here. Alright. So this thing, it's called stocks dot com. It's like a live shark tank type of company.

02:15

I'm an investor in it, so I have, like,

I'm an investor in it, so I have, like,

02:18

I have some interest here. But,

I have some interest here. But,

02:21

You're not an investor. Right, Sean, of this company? No. I'm just working for free right now. Yes. I don't care if people use it or not, but I just have I would just wanna just disclose that. But

You're not an investor. Right, Sean, of this company? No. I'm just working for free right now. Yes. I don't care if people use it or not, but I just have I would just wanna just disclose that. But

02:29

So six companies. Describe the describe the format. It's cool. There's basically a video screen where they pitch the investors.

So six companies. Describe the describe the format. It's cool. There's basically a video screen where they pitch the investors.

02:36

There's right now two hundred and fifty people watching live

There's right now two hundred and fifty people watching live

02:39

And then there's a live chat, so people in the audience, and they could tag themselves as angel investor, founder, VC, just, I don't know, normal, you know, muggle,

And then there's a live chat, so people in the audience, and they could tag themselves as angel investor, founder, VC, just, I don't know, normal, you know, muggle,

02:47

And, you they can chat during the pitches. They can also express interest to invest,

And, you they can chat during the pitches. They can also express interest to invest,

02:53

which will let them, like, connect with that founder after the So it's kinda like a way it's a a way to do angel investing no matter where you are in the world,

which will let them, like, connect with that founder after the So it's kinda like a way it's a a way to do angel investing no matter where you are in the world,

03:00

making shark tank, you know, the default process for investing, which is pretty dope. And, yeah, as Calvin says, no small boy stuff today, that's my only rule with these founders coming and pitching coming and pitching. They they always say, what's your advice? Say it's the same as always. No small boy stuff. Alright. So, basically, we're gonna it's like Shark Tank, but the viewers could invest. And I think alright. So we're gonna have six startups each startup gets two minutes to pitch, and then we have up to five minutes to ask questions.

making shark tank, you know, the default process for investing, which is pretty dope. And, yeah, as Calvin says, no small boy stuff today, that's my only rule with these founders coming and pitching coming and pitching. They they always say, what's your advice? Say it's the same as always. No small boy stuff. Alright. So, basically, we're gonna it's like Shark Tank, but the viewers could invest. And I think alright. So we're gonna have six startups each startup gets two minutes to pitch, and then we have up to five minutes to ask questions.

03:27

And last time, I don't know if you remember this, Sean, but last time,

And last time, I don't know if you remember this, Sean, but last time,

03:30

we the companies that pitched ended up raising, like, millions and millions of dollars.

we the companies that pitched ended up raising, like, millions and millions of dollars.

03:34

So it was it was pretty interesting. So let's see if we get that, just another life change. Just another day. Just another life change as far as what I'm concerned. Well, because we so basically, we're doing this live, and then we're gonna air on our YouTube and podcast and people can still invest at that point. But so, yeah, a lot of lives have changed, but let's check it out. So let's we're gonna go, the first one. Jesse, you're gonna bring it up. There you go. Two minutes. And then,

So it was it was pretty interesting. So let's see if we get that, just another life change. Just another day. Just another life change as far as what I'm concerned. Well, because we so basically, we're doing this live, and then we're gonna air on our YouTube and podcast and people can still invest at that point. But so, yeah, a lot of lives have changed, but let's check it out. So let's we're gonna go, the first one. Jesse, you're gonna bring it up. There you go. Two minutes. And then,

03:58

we do five minute q and a.

we do five minute q and a.

04:01

Awesome. Hey, guys. Luke from Cherry here. Hey, Sam. Hey, Sean.

Awesome. Hey, guys. Luke from Cherry here. Hey, Sam. Hey, Sean.

04:05

So Cherry is a, exists to ensure accommodation businesses get more direct bookings. And in turn, giving consumers better travel deals.

So Cherry is a, exists to ensure accommodation businesses get more direct bookings. And in turn, giving consumers better travel deals.

04:14

So online travel agencies today, like Expedia, Booking dot com, and Airbnb, bringing around two hundred and fifty billion dollars in bookings.

So online travel agencies today, like Expedia, Booking dot com, and Airbnb, bringing around two hundred and fifty billion dollars in bookings.

04:21

Resulting around thirty five boone in commission fees. A

Resulting around thirty five boone in commission fees. A

04:25

average property can sometimes pay up to thirty percent commissions on those bookings.

average property can sometimes pay up to thirty percent commissions on those bookings.

04:30

With the market power that these guys have, it's really hard for an individual property to get direct bookings. And that's where we've come in. Meet Cherry,

With the market power that these guys have, it's really hard for an individual property to get direct bookings. And that's where we've come in. Meet Cherry,

04:38

cherry is a free browser extension that gives you deals when searching for accommodations.

cherry is a free browser extension that gives you deals when searching for accommodations.

04:43

You can find it right now at join cherry dot com.

You can find it right now at join cherry dot com.

04:46

So imagine that you're searching for a property. You're looking on booking dot com, you found what you liked, and bam, Cherry's gonna pop up. It's gonna show you a better deal for booking directly with the property

So imagine that you're searching for a property. You're looking on booking dot com, you found what you liked, and bam, Cherry's gonna pop up. It's gonna show you a better deal for booking directly with the property

04:56

And on clicking get deal will take you directly through to the property's direct website.

And on clicking get deal will take you directly through to the property's direct website.

05:01

We copy across the guests the check-in, the checkout, and the promo code, allowing you to check out with ease.

We copy across the guests the check-in, the checkout, and the promo code, allowing you to check out with ease.

05:07

Now, Sam, imagine we did this with marathon Ranch. On Airbnb, you could have cherry popping up, showing a deal directly to customers,

Now, Sam, imagine we did this with marathon Ranch. On Airbnb, you could have cherry popping up, showing a deal directly to customers,

05:15

allowing them to come through the direct guest y booking engine on your own website.

allowing them to come through the direct guest y booking engine on your own website.

05:21

All of our properties have a dedicated back end, allowing them to manage their deal daily, monthly, or seasonally. They've got full control.

All of our properties have a dedicated back end, allowing them to manage their deal daily, monthly, or seasonally. They've got full control.

05:30

The kernel product works across desktop, and in the future months, we'll be launching all your favorite travel deals directly from your pocket on mobile.

The kernel product works across desktop, and in the future months, we'll be launching all your favorite travel deals directly from your pocket on mobile.

05:38

We're highly adaptable. We work across all accommodation providers like city hotels, resorts, vacation rentals, and the future proofing of our product is across attractions, flights, and also car hire.

We're highly adaptable. We work across all accommodation providers like city hotels, resorts, vacation rentals, and the future proofing of our product is across attractions, flights, and also car hire.

05:49

Within four short months, we're approaching a thousand partner properties in Australia, New Zealand, and Canada from all the major brands you might be aware of. And by November, we'll be launching to the US with an expected twenty thousand partner properties.

Within four short months, we're approaching a thousand partner properties in Australia, New Zealand, and Canada from all the major brands you might be aware of. And by November, we'll be launching to the US with an expected twenty thousand partner properties.

06:03

Where the teams to get this done, we've got a mixture of great travel and tech experience,

Where the teams to get this done, we've got a mixture of great travel and tech experience,

06:07

and at a graded sounding advisory board across marketplaces, travel and tech as well. What do you say? Should we get back to traveling?

and at a graded sounding advisory board across marketplaces, travel and tech as well. What do you say? Should we get back to traveling?

06:15

Oh, nice little closing. Do you work on that today? Yeah. I did. That's good.

Oh, nice little closing. Do you work on that today? Yeah. I did. That's good.

06:21

Good. I like that.

Good. I like that.

06:23

This is really like shark tank. Thank you. So what do you say? You know, shall we fly through the sky?

This is really like shark tank. Thank you. So what do you say? You know, shall we fly through the sky?

06:29

Alright. So

Alright. So

06:31

Okay. So let's start off, Sam. Give me your initial initial thoughts.

Okay. So let's start off, Sam. Give me your initial initial thoughts.

06:36

I don't know the space that much. So my initial thoughts are I'm trying to figure out how this is different from just like Expedia

I don't know the space that much. So my initial thoughts are I'm trying to figure out how this is different from just like Expedia

06:44

with a Chrome plugin. Or is that it? Is that like the dumbed down version? Yeah. We're we're we're essentially allowing,

with a Chrome plugin. Or is that it? Is that like the dumbed down version? Yeah. We're we're we're essentially allowing,

06:50

properties to get more direct bookings by having it pop up on online travel agencies.

properties to get more direct bookings by having it pop up on online travel agencies.

06:54

Sending them direct to the property's website, so they're not having to pay the large commission fees. And there's all two two way incentive. So the the buyer gets a little discount, and then the hotel

Sending them direct to the property's website, so they're not having to pay the large commission fees. And there's all two two way incentive. So the the buyer gets a little discount, and then the hotel

07:04

doesn't have to pay the referral fee to Expedia.

doesn't have to pay the referral fee to Expedia.

07:07

Right? Correct. It said they pay a referral fee to you presumably.

Right? Correct. It said they pay a referral fee to you presumably.

07:10

Yeah. We we charge on a performance base and sometimes on a subscription base

Yeah. We we charge on a performance base and sometimes on a subscription base

07:14

So are you cheaper than Expedia then?

So are you cheaper than Expedia then?

07:17

Yeah. Correct. So for us, we charge a performance fee of, ten dollars a month and then we pay seventy nine cents a click, whereas some of these properties are are paying, you know, upwards of thirty percent commission on some of these bookings. And the way it works is you have this,

Yeah. Correct. So for us, we charge a performance fee of, ten dollars a month and then we pay seventy nine cents a click, whereas some of these properties are are paying, you know, upwards of thirty percent commission on some of these bookings. And the way it works is you have this,

07:32

Chrome plug in installed. I go to hilton sydney dot com or whatever it is. And it says, hey, or sorry. I go to Expedia or I go to some other website where there's hotels listed. And it goes, hey, by the way, if you just click this little,

Chrome plug in installed. I go to hilton sydney dot com or whatever it is. And it says, hey, or sorry. I go to Expedia or I go to some other website where there's hotels listed. And it goes, hey, by the way, if you just click this little,

07:44

it's like honey. So I, like, see, like, a little notification my Chrome thing. It says, if you click that, you're actually gonna save ten dollars if you just come straight to our website. Is that right? Correct. So how do you get the the Chrome extension users. Right? That seems like the the hard part. So how do you get them today? It says you said you had three thousand of them. So where do those three thousand come from and where do the next ten or thirty thousand come from, and how much does that cost you? Yeah. So what we've done is we've been able to partner with the hotels that we're signing up. Which has made it really easy for from a customer acquisition point of view. So for instance, we're launching with around three hundred new properties in Canada at the moment. And they're actually rolling it out to their loyalty base around two million members,

it's like honey. So I, like, see, like, a little notification my Chrome thing. It says, if you click that, you're actually gonna save ten dollars if you just come straight to our website. Is that right? Correct. So how do you get the the Chrome extension users. Right? That seems like the the hard part. So how do you get them today? It says you said you had three thousand of them. So where do those three thousand come from and where do the next ten or thirty thousand come from, and how much does that cost you? Yeah. So what we've done is we've been able to partner with the hotels that we're signing up. Which has made it really easy for from a customer acquisition point of view. So for instance, we're launching with around three hundred new properties in Canada at the moment. And they're actually rolling it out to their loyalty base around two million members,

08:24

from an email point of view. And so we'll partner with them, and that's the engaging point of view that we're we're going out with. And then we've got some paid media rolling it out across YouTube and redder than that, those are the likes.

from an email point of view. And so we'll partner with them, and that's the engaging point of view that we're we're going out with. And then we've got some paid media rolling it out across YouTube and redder than that, those are the likes.

08:37

Sorry. So I don't understand. So why does the hotel care to tell its customers to install Cherry?

Sorry. So I don't understand. So why does the hotel care to tell its customers to install Cherry?

08:43

Yeah. So so they're they're almost sick of paying these large commission fees that they do to the online travel agencies. So for them to be able to bring their members incentivize

Yeah. So so they're they're almost sick of paying these large commission fees that they do to the online travel agencies. So for them to be able to bring their members incentivize

08:53

them to use the cherry product while they're searching across all of the different online travel agencies. It's a benefit for them to then not have to pay those commissions every single time.

them to use the cherry product while they're searching across all of the different online travel agencies. It's a benefit for them to then not have to pay those commissions every single time.

09:03

Do you think that what

Do you think that what

09:05

let's say that you're you're you're actually

let's say that you're you're you're actually

09:08

advising people not to invest in you because the travel industry is so hard. Like, what's, like, the honest truth that you would say? Because the travel industry, like, performance marketing and the travel industry seems like the most cutthroat thing there is next to, like,

advising people not to invest in you because the travel industry is so hard. Like, what's, like, the honest truth that you would say? Because the travel industry, like, performance marketing and the travel industry seems like the most cutthroat thing there is next to, like,

09:21

you know, ranking for, like, lawyer terms like, Massofhelioma

you know, ranking for, like, lawyer terms like, Massofhelioma

09:24

lawsuit. Do you know what I mean? Like, what what else?

lawsuit. Do you know what I mean? Like, what what else?

09:27

Definitely.

Definitely.

09:28

Well, I guess the dot of the website and travel last four months is that it's actually back and it's bigger than twenty nineteen pre pandemic levels that we saw. And not just that it's, it's back from a Boeing perspective, but in terms of what people are spending is higher. So the average room rate of dollar value that people are spending is is going higher. So Yeah. I'm trying to tell you not to invest at this point, but, from from Arregard travels back and bigger than ever.

Well, I guess the dot of the website and travel last four months is that it's actually back and it's bigger than twenty nineteen pre pandemic levels that we saw. And not just that it's, it's back from a Boeing perspective, but in terms of what people are spending is higher. So the average room rate of dollar value that people are spending is is going higher. So Yeah. I'm trying to tell you not to invest at this point, but, from from Arregard travels back and bigger than ever.

09:55

So,

So,

09:56

it seemed like Honey did a great job because they they found a way to acquire users for cheap. And I think YouTubers and influencers are, like, one of the big strategies.

it seemed like Honey did a great job because they they found a way to acquire users for cheap. And I think YouTubers and influencers are, like, one of the big strategies.

10:04

It seems like you could do that with these, like, travel bloggers, travel tips,

It seems like you could do that with these, like, travel bloggers, travel tips,

10:09

you know, flight deals, hotel deal type of,

you know, flight deals, hotel deal type of,

10:12

type of bloggers, youtubers, that sort of thing. Have you guys started doing that? And what do you see? What's the what is the what does it cost you to get it installed when you pay? Right? Because don't know. I'm not really buying this,

type of bloggers, youtubers, that sort of thing. Have you guys started doing that? And what do you see? What's the what is the what does it cost you to get it installed when you pay? Right? Because don't know. I'm not really buying this,

10:24

this idea that hotels are just gonna keep spamming their their customers to install your app. Just seems just because they're so fed up with Expedia. I don't know. I don't really buy that. Yep. Yeah. So when we first started,

this idea that hotels are just gonna keep spamming their their customers to install your app. Just seems just because they're so fed up with Expedia. I don't know. I don't really buy that. Yep. Yeah. So when we first started,

10:36

we were noticing

we were noticing

10:37

ten, twelve dollars of a, of a CPA on, on Facebook and Instagram, and we realized that that was just not continually achievable.

ten, twelve dollars of a, of a CPA on, on Facebook and Instagram, and we realized that that was just not continually achievable.

10:45

And so we switched and we pivoted very much into the reds and the Pinterest of the world, and we were able to get down to sort of that two, three dollar mark.

And so we switched and we pivoted very much into the reds and the Pinterest of the world, and we were able to get down to sort of that two, three dollar mark.

10:52

But YouTube is where we identified the big How much did you spend?

But YouTube is where we identified the big How much did you spend?

10:56

We were spending a few thousand dollars a month.

We were spending a few thousand dollars a month.

10:59

Yeah. And what what what's what's a customer

Yeah. And what what what's what's a customer

11:02

what do those customers generate for you,

what do those customers generate for you,

11:05

you know, in a year? Yeah. So the the customers aren't necessarily the generators for us. It's the the properties paying the performance and the subscription fee, but the average saving for a customer could be up to, you know, hundred and fifty dollars a year in, in travel savings.

you know, in a year? Yeah. So the the customers aren't necessarily the generators for us. It's the the properties paying the performance and the subscription fee, but the average saving for a customer could be up to, you know, hundred and fifty dollars a year in, in travel savings.

11:21

Gotcha. Okay. They're telling us we're at time. Luke, thank you. Thanks guys.

Gotcha. Okay. They're telling us we're at time. Luke, thank you. Thanks guys.

11:26

Yeah. I mean, Sam, we'll quickly debrief, and then we'll move on to the next pitch. So

Yeah. I mean, Sam, we'll quickly debrief, and then we'll move on to the next pitch. So

11:30

not not anything out. I'm out. I'm out. Not has nothing to do with him. It's just the industry. I'm just I I It's not you. It's not me. Yeah.

not not anything out. I'm out. I'm out. Not has nothing to do with him. It's just the industry. I'm just I I It's not you. It's not me. Yeah.

11:40

Yeah.

Yeah.

11:42

So look, I'm one of the very few so I I, there's this weird rule. I don't know if it's a law or a rule. But, basically, have you ever heard about this where,

So look, I'm one of the very few so I I, there's this weird rule. I don't know if it's a law or a rule. But, basically, have you ever heard about this where,

11:52

like Expedia or some other company, they there's this regulation that they have to display

like Expedia or some other company, they there's this regulation that they have to display

11:56

in, like, the same rate across all websites if that rate is gonna be publicly available. Have you ever heard of that? No. But that makes sense. So there's these guys I met who bought these,

in, like, the same rate across all websites if that rate is gonna be publicly available. Have you ever heard of that? No. But that makes sense. So there's these guys I met who bought these,

12:08

Instagram handles, like, at Hotel. And now they have, like, fifty million followers across all their things. And it says DM us for a good hotel deal. And you DM them, and they have a chatbot that figures out where you wanna go, and then they could actually spend send you way more exclusive deals because they don't have to follow the law because it's not a private conversation. And I think that's, like, an interesting take. This that's a that's a really intriguing take to me. This take that this guy has, Luke, I think it's also interesting. I don't think it's good enough, though, to, like, be

Instagram handles, like, at Hotel. And now they have, like, fifty million followers across all their things. And it says DM us for a good hotel deal. And you DM them, and they have a chatbot that figures out where you wanna go, and then they could actually spend send you way more exclusive deals because they don't have to follow the law because it's not a private conversation. And I think that's, like, an interesting take. This that's a that's a really intriguing take to me. This take that this guy has, Luke, I think it's also interesting. I don't think it's good enough, though, to, like, be

12:38

crazy different from all the other folks out there in an industry that's to me as somewhat uneducated seems like it's a really, really, really, really tough to succeed in. I think the hard part here is I'm not installing this unless I'm traveling.

crazy different from all the other folks out there in an industry that's to me as somewhat uneducated seems like it's a really, really, really, really tough to succeed in. I think the hard part here is I'm not installing this unless I'm traveling.

12:50

Right? Like, I've not just oh, let me just, preemptively install this. So I think

Right? Like, I've not just oh, let me just, preemptively install this. So I think

12:54

travel is so infrequent. It's hard to get people to install this. And I didn't love that answer he gave at the end. He's like, oh, our customers don't generate money they do. Right? They're the ones who go book, and so you know, on average,

travel is so infrequent. It's hard to get people to install this. And I didn't love that answer he gave at the end. He's like, oh, our customers don't generate money they do. Right? They're the ones who go book, and so you know, on average,

13:05

of the people that install, twenty five percent actually go book something, And of those twenty five percent who book on average, that generates twenty dollars for us. And so I can tell you no public math, but let me just do it anyways. That's, you know, whatever four or five bucks that I that customer's worth for me and I I bought them for two. So that's your spread. There's gonna be some math like that. So that's what I'm always looking for with founders is

of the people that install, twenty five percent actually go book something, And of those twenty five percent who book on average, that generates twenty dollars for us. And so I can tell you no public math, but let me just do it anyways. That's, you know, whatever four or five bucks that I that customer's worth for me and I I bought them for two. So that's your spread. There's gonna be some math like that. So that's what I'm always looking for with founders is

13:26

Can you, from a bottoms up way, explain

Can you, from a bottoms up way, explain

13:29

how the money machine of your business works? I put a dollar in here, then it generates you know, three dollars on the way out.

how the money machine of your business works? I put a dollar in here, then it generates you know, three dollars on the way out.

13:36

And I've done that at this scale. And now the only question is if I scale up, will that money stay the same? Right? That's that's what I'm looking to So, yeah, I'm out as well.

And I've done that at this scale. And now the only question is if I scale up, will that money stay the same? Right? That's that's what I'm looking to So, yeah, I'm out as well.

13:45

Like the guy, like the name, but I think that honey for travel, if it was gonna be a thing, honey would do it. And if it,

Like the guy, like the name, but I think that honey for travel, if it was gonna be a thing, honey would do it. And if it,

13:53

you know, and I also think that the and I think the reason they don't is because

you know, and I also think that the and I think the reason they don't is because

13:58

as a stand alone thing, it's hard to acquire users for this. Because travel is infrequent and expensive.

as a stand alone thing, it's hard to acquire users for this. Because travel is infrequent and expensive.

14:03

There's a commenter in the chat room that says, my wife says she's out. I agree with it. I agree with Ben Simpson's wife. And in fact, I wanna know what all of your wives feel. And if your wife's not around, because she's not watching this at a ten AM on a Tuesday,

There's a commenter in the chat room that says, my wife says she's out. I agree with it. I agree with Ben Simpson's wife. And in fact, I wanna know what all of your wives feel. And if your wife's not around, because she's not watching this at a ten AM on a Tuesday,

14:17

you know your wife. And you know your husband. So just tell us in the chat after every single pitch. Is your wife or husband in or out based on what you know about them? Alright. Next up. Yeah. I wanna know too. It also asks ask them my wife is definitely out. My wife is definitely out. Is Sarah is Sarah out for you? Yeah. She's not in. And if you wanna ask them what the what your wife's opinion is on Sean and me as well as the startups, we're okay to we'll listen to that. But only if it's a good thing. Next up. Hold on. Look at this comment for Ali. I keep my wife my my wife away from the show because you guys are too handsome. Look,

you know your wife. And you know your husband. So just tell us in the chat after every single pitch. Is your wife or husband in or out based on what you know about them? Alright. Next up. Yeah. I wanna know too. It also asks ask them my wife is definitely out. My wife is definitely out. Is Sarah is Sarah out for you? Yeah. She's not in. And if you wanna ask them what the what your wife's opinion is on Sean and me as well as the startups, we're okay to we'll listen to that. But only if it's a good thing. Next up. Hold on. Look at this comment for Ali. I keep my wife my my wife away from the show because you guys are too handsome. Look,

14:49

If I had a nickel for every time I heard that Exactly fifteen cents. I'd have I'd have three nickels.

If I had a nickel for every time I heard that Exactly fifteen cents. I'd have I'd have three nickels.

14:55

Yep. Maybe twenty five I think we have a whole quarter.

Yep. Maybe twenty five I think we have a whole quarter.

14:59

Alright.

Alright.

15:00

Pill pill up is the next startup. What a name?

Pill pill up is the next startup. What a name?

15:05

Yeah. Hi, guys. Pill up. I am Pill up.

Yeah. Hi, guys. Pill up. I am Pill up.

15:09

Yeah. That's why I took the name. Pill up. Cheers.

Yeah. That's why I took the name. Pill up. Cheers.

15:13

Okay. Hi, guys. I'm on core, co founder of Philip, and I'm here to make you millions.

Okay. Hi, guys. I'm on core, co founder of Philip, and I'm here to make you millions.

15:18

Let's get started.

Let's get started.

15:20

So fifty six percent of patients in India have poor medication adherence.

So fifty six percent of patients in India have poor medication adherence.

15:24

And guess how many are chronic patients in India?

And guess how many are chronic patients in India?

15:27

Four thirty million. So that's a big problem and a huge opportunity for us. But what are the reasons behind this poor adherence? Number one, forgetfulness.

Four thirty million. So that's a big problem and a huge opportunity for us. But what are the reasons behind this poor adherence? Number one, forgetfulness.

15:35

People tend to forget to eat their medication due to old age, but they're just busy with the schedule.

People tend to forget to eat their medication due to old age, but they're just busy with the schedule.

15:41

Second one is poor medication management. People take the wrong medicines at the wrong nine, double dose. It happens more often than you think.

Second one is poor medication management. People take the wrong medicines at the wrong nine, double dose. It happens more often than you think.

15:49

Financial constraints.

Financial constraints.

15:52

The fourth one is personal beliefs. You know, some people in India believe if they start to take medicines, they have to take it for the lifetime. And the fifth one is unable to read doctor prescription.

The fourth one is personal beliefs. You know, some people in India believe if they start to take medicines, they have to take it for the lifetime. And the fifth one is unable to read doctor prescription.

16:02

Presenting you the pull up solution.

Presenting you the pull up solution.

16:05

We presort your medication by time and date personalized as per your prescription.

We presort your medication by time and date personalized as per your prescription.

16:10

But you'll still forget to take medicines due to some reason. Right? Don't worry. We got you covered.

But you'll still forget to take medicines due to some reason. Right? Don't worry. We got you covered.

16:15

We provide mitigation reminders on your preferred platform

We provide mitigation reminders on your preferred platform

16:19

you don't forget to take medicine. But in case you still do, your wife will remind you because we're gonna alert her after one hour of your medication time.

you don't forget to take medicine. But in case you still do, your wife will remind you because we're gonna alert her after one hour of your medication time.

16:27

And lastly, we can work this beautiful doodle art of the doctor into a pillar planner, which is much easier to understand.

And lastly, we can work this beautiful doodle art of the doctor into a pillar planner, which is much easier to understand.

16:35

We provide a one stop solution to improve your medication adherence

We provide a one stop solution to improve your medication adherence

16:39

through the app through presorting pouches and our dispenser.

through the app through presorting pouches and our dispenser.

16:43

We are a team of engineer, analyst,

We are a team of engineer, analyst,

16:46

and doctor. I'm a serial entrepreneur and I y c alumni. Doctor Manish has nineteen years of experience. He is a cardiologist

and doctor. I'm a serial entrepreneur and I y c alumni. Doctor Manish has nineteen years of experience. He is a cardiologist

16:53

and a conscious brains behind this whole business.

and a conscious brains behind this whole business.

16:57

To put things into perspective,

To put things into perspective,

17:00

Even if you miss one day of medication in tuberculosis,

Even if you miss one day of medication in tuberculosis,

17:03

you start again from day zero.

you start again from day zero.

17:06

Let this sink in. Thank you.

Let this sink in. Thank you.

17:12

Good job. Thank you.

Good job. Thank you.

17:15

Anchor. That was that was awesome.

Anchor. That was that was awesome.

17:18

Let that sink in. Thank you.

Let that sink in. Thank you.

17:20

You started and ended

You started and ended

17:23

with some major

with some major

17:24

restaurant owner energy right there. Like, you came in and said, here to make you millions, and you left with let that sink in. Thank you. I've never I've actually never seen that. And,

restaurant owner energy right there. Like, you came in and said, here to make you millions, and you left with let that sink in. Thank you. I've never I've actually never seen that. And,

17:34

I don't know. I'm so little shook, Sam. You take it away. That was great.

I don't know. I'm so little shook, Sam. You take it away. That was great.

17:38

Yeah, I think you did a good job. Are you is this an Indian company? Is this in India?

Yeah, I think you did a good job. Are you is this an Indian company? Is this in India?

17:43

Yes. Yes.

Yes. Yes.

17:43

And you're, like, in downtown you're in downtown India right now. I could hear the I could hear the, where you at?

And you're, like, in downtown you're in downtown India right now. I could hear the I could hear the, where you at?

17:50

I'm in the capital, New Delhi.

I'm in the capital, New Delhi.

17:52

You, you're wearing a Y Combinator shirt makes something people want. Is this a YC company?

You, you're wearing a Y Combinator shirt makes something people want. Is this a YC company?

17:57

No. My previous startup was a YC company. And what was that?

No. My previous startup was a YC company. And what was that?

18:03

So this was in winter twenty one. So

So this was in winter twenty one. So

18:06

me and my partner, we pivoted and had

me and my partner, we pivoted and had

18:10

different vision for a way to take the company. So I started a new. Is this company basically

different vision for a way to take the company. So I started a new. Is this company basically

18:16

pillpack

pillpack

18:17

for India?

for India?

18:18

Yeah. Kind of, but the customer insights are a bit different. So pillpack was focused on medication management, presorting so that people can stay back home and spend more time with the family

Yeah. Kind of, but the customer insights are a bit different. So pillpack was focused on medication management, presorting so that people can stay back home and spend more time with the family

18:29

while our focus is on to increase the medication at the high risk issue, which is reminding people

while our focus is on to increase the medication at the high risk issue, which is reminding people

18:36

to take their medication, timely intervention,

to take their medication, timely intervention,

18:39

and

and

18:40

to make their life more easier and convenient. So I would say fifty to sixty percent pill pack, but there's more to it. And why doesn't pill pack focus on that? So is it that in India,

to make their life more easier and convenient. So I would say fifty to sixty percent pill pack, but there's more to it. And why doesn't pill pack focus on that? So is it that in India,

18:51

the problem is different? Like, the people's behavior is different?

the problem is different? Like, the people's behavior is different?

18:54

Or why why wouldn't you just do pillpack for India? Pilpack's been quite successful,

Or why why wouldn't you just do pillpack for India? Pilpack's been quite successful,

18:59

is India itself not enough of a differentiator

is India itself not enough of a differentiator

19:02

from there.

from there.

19:03

No. So pillpack hasn't entered India because there has been a recent health care regulation change.

No. So pillpack hasn't entered India because there has been a recent health care regulation change.

19:09

So that makes it possible for India. The UHA change similar to the UPI, if you are aware about the payments change that happen and change the whole fintech industry. Similarly, the UHI,

So that makes it possible for India. The UHA change similar to the UPI, if you are aware about the payments change that happen and change the whole fintech industry. Similarly, the UHI,

19:20

change is happening in India. Moreover, due to COVID,

change is happening in India. Moreover, due to COVID,

19:23

the

the

19:24

e pharmacy have been booming in the last three years with the CHGR of forty five percent.

e pharmacy have been booming in the last three years with the CHGR of forty five percent.

19:30

And with the online payments, it has made possible to get this technology out there.

And with the online payments, it has made possible to get this technology out there.

19:36

Earlier in India, you know, online ordering of medicine was in concept.

Earlier in India, you know, online ordering of medicine was in concept.

19:40

You should change your shirt instead of, make something people want. You should say, say,

You should change your shirt instead of, make something people want. You should say, say,

19:45

make drugs people take. And, that'll be that'll be a head turner.

make drugs people take. And, that'll be that'll be a head turner.

19:50

What what is the,

What what is the,

19:52

what's attraction like? I I feel like you gave us the high level problem and solution pretty well.

what's attraction like? I I feel like you gave us the high level problem and solution pretty well.

19:57

But you didn't say much about traction. So Oh, we launched two months ago. Last month, our traction was thirteen hundred dollars.

But you didn't say much about traction. So Oh, we launched two months ago. Last month, our traction was thirteen hundred dollars.

20:04

We on an average get an order value of two hundred dollars from our customers

We on an average get an order value of two hundred dollars from our customers

20:09

per month, and we have a high very high retention rate, but the as the sample size is very small,

per month, and we have a high very high retention rate, but the as the sample size is very small,

20:16

you know, it doesn't make sense to say it is ninety percent.

you know, it doesn't make sense to say it is ninety percent.

20:19

Sure. And how are you gonna get customers?

Sure. And how are you gonna get customers?

20:23

So we have three channels. One is b two b. So today also, we made a b two b partnership with old age homes. With whom they are twenty to thirty clients staying in their old age homes.

So we have three channels. One is b two b. So today also, we made a b two b partnership with old age homes. With whom they are twenty to thirty clients staying in their old age homes.

20:33

Second one is we are pushing out the product by introducing it to the doctors through our sales channel. And third, we will be starting our influencer programs next month once are what WhatsApp bought and all the technical side is, you know, on track. And really important question, is that zero to one on your bookshelf?

Second one is we are pushing out the product by introducing it to the doctors through our sales channel. And third, we will be starting our influencer programs next month once are what WhatsApp bought and all the technical side is, you know, on track. And really important question, is that zero to one on your bookshelf?

20:50

Yes.

Yes.

20:51

I'm in.

I'm in.

20:55

Yeah. Is that settlers of Catan? Oh, yeah. Yeah.

Yeah. Is that settlers of Catan? Oh, yeah. Yeah.

20:59

I love that

I love that

21:00

one. What are you what have you been saying to,

one. What are you what have you been saying to,

21:03

American investors who say,

American investors who say,

21:06

dude, American health care is too complicated. I don't know anything about that. Let alone another country

dude, American health care is too complicated. I don't know anything about that. Let alone another country

21:12

that you know, I may maybe don't even know that much about.

that you know, I may maybe don't even know that much about.

21:15

So I haven't reached out to the American, you know, investors yet. So this is my first page. I just wanted

So I haven't reached out to the American, you know, investors yet. So this is my first page. I just wanted

21:22

you guys to be my, you know,

you guys to be my, you know,

21:24

my investors because I love my first million. And

my investors because I love my first million. And

21:28

I've already received funding so that, you know, I can get into Y Combinator again and, you know, I have a clear path for the next two years. The funding is secured.

I've already received funding so that, you know, I can get into Y Combinator again and, you know, I have a clear path for the next two years. The funding is secured.

21:37

And for the American was said, you know, I haven't reached out to them yet. And,

And for the American was said, you know, I haven't reached out to them yet. And,

21:42

you you said that the e pharmacies have been booming, and that's I think that's just a very true I I looked at investing in a, an entity, you know, e

you you said that the e pharmacies have been booming, and that's I think that's just a very true I I looked at investing in a, an entity, you know, e

21:50

you know, e pharmacy.

you know, e pharmacy.

21:52

Why don't they just do this? You know, as part of their offering where they they're able to sort of, So so their focus is very different. So e pharmacies

Why don't they just do this? You know, as part of their offering where they they're able to sort of, So so their focus is very different. So e pharmacies

22:00

right now have been working on two things. Out of the fifteen problems we have identified. They are working on the delivery part. They want to do the delivery within three hours. There are three unicorns already in this space. And the whole market right now is discounted it. No one is working on what happens post delivery of medicines.

right now have been working on two things. Out of the fifteen problems we have identified. They are working on the delivery part. They want to do the delivery within three hours. There are three unicorns already in this space. And the whole market right now is discounted it. No one is working on what happens post delivery of medicines.

22:18

So that's the space we want to work in. And that's where we are finding a lot of interest from the people. And all our sales are mostly through word-of-mouth. So we are in the pre launch phase. We just share share the product with ten people, and then, you know, we they just shared it further. And now we have two fifty people. And next month, we are doing a proper launch.

So that's the space we want to work in. And that's where we are finding a lot of interest from the people. And all our sales are mostly through word-of-mouth. So we are in the pre launch phase. We just share share the product with ten people, and then, you know, we they just shared it further. And now we have two fifty people. And next month, we are doing a proper launch.

22:39

And, and you said you're raising two hundred thousand dollars at a four million dollar cap. Is that right? Yeah. Okay. Okay. Great. And the total hundred hundred thousand.

And, and you said you're raising two hundred thousand dollars at a four million dollar cap. Is that right? Yeah. Okay. Okay. Great. And the total hundred hundred thousand.

22:48

Awesome.

Awesome.

22:49

We're at time. We can, we can close it up. Thank you so much, Ankur. Thanks for coming on. Thank you, Sean. Thank you, Sam. Thanks.

We're at time. We can, we can close it up. Thank you so much, Ankur. Thanks for coming on. Thank you, Sean. Thank you, Sam. Thanks.

22:56

What do you think?

What do you think?

22:58

I like it. I'm in. I would invest in this at proceed. Now the the the questions I have, the things I would wanna know is He mentioned that his last company, which was YC twenty one, that's not very long ago. It did not,

I like it. I'm in. I would invest in this at proceed. Now the the the questions I have, the things I would wanna know is He mentioned that his last company, which was YC twenty one, that's not very long ago. It did not,

23:10

not a red flag, but something to ask about.

not a red flag, but something to ask about.

23:13

Yeah. Yeah. Exactly. But, you know, there is some red I see in the distance. I just don't know if it's a flag or, like, you know It could be a red flag.

Yeah. Yeah. Exactly. But, you know, there is some red I see in the distance. I just don't know if it's a flag or, like, you know It could be a red flag.

23:21

So why did why did him as co founder disagree? What went into that? How did they handle it? So, you know, that seems kind of interesting. I'd like to know a little bit more about that. And,

So why did why did him as co founder disagree? What went into that? How did they handle it? So, you know, that seems kind of interesting. I'd like to know a little bit more about that. And,

23:30

I'd also like to talk to some of the e pharmacy people and be like, hey,

I'd also like to talk to some of the e pharmacy people and be like, hey,

23:35

why isn't there a pill pack for India and just hear what they say? Do you have Well, I guess you don't need an Indian

why isn't there a pill pack for India and just hear what they say? Do you have Well, I guess you don't need an Indian

23:41

based person to, like, tell you that. But

based person to, like, tell you that. But

23:44

do you have, like, a, like, someone who's

do you have, like, a, like, someone who's

23:47

somewhat of an expert on India health care? Yeah. I know a guy who runs one, they're the big epharmacies there. And then, just in general, you know, you this is, I'm one one DM away from getting that answer. So that would be the other contingency for me. That's why I would pass is I don't have that. You know, I I don't I don't I don't like, you could tell he could've told me anything

somewhat of an expert on India health care? Yeah. I know a guy who runs one, they're the big epharmacies there. And then, just in general, you know, you this is, I'm one one DM away from getting that answer. So that would be the other contingency for me. That's why I would pass is I don't have that. You know, I I don't I don't I don't like, you could tell he could've told me anything

24:06

about India's health care. And I would've said, yeah. Okay. Cool. Yeah. Like, so India has now floated. It's to China, you're like, oh, man. That's cool. Yeah. Yeah.

about India's health care. And I would've said, yeah. Okay. Cool. Yeah. Like, so India has now floated. It's to China, you're like, oh, man. That's cool. Yeah. Yeah.

24:16

So, like, he could have said anything, and I just I it's really hard for me to to to know, like, what the truth is. Right. So I don't know if I would do it. Also, tell me what you think about this. Do you think that it's a good pitch or not to say, we are a pill pack of India. We are blank but for this country. Yes. Sometimes I'm like, yeah. Okay. I'm okay with that. You don't you don't have to, like, you know, you don't have to sell something like something. He really should Don't don't piss on my back and tell me it's ringing. Just tell me what it is. Yeah. Exactly. He should've just told us what it is. He should've said. We're a pillpack for India, pillpack is built ex billion dollar business and was acquired by Amazon, and they don't operate in India because of that re because of,

So, like, he could have said anything, and I just I it's really hard for me to to to know, like, what the truth is. Right. So I don't know if I would do it. Also, tell me what you think about this. Do you think that it's a good pitch or not to say, we are a pill pack of India. We are blank but for this country. Yes. Sometimes I'm like, yeah. Okay. I'm okay with that. You don't you don't have to, like, you know, you don't have to sell something like something. He really should Don't don't piss on my back and tell me it's ringing. Just tell me what it is. Yeah. Exactly. He should've just told us what it is. He should've said. We're a pillpack for India, pillpack is built ex billion dollar business and was acquired by Amazon, and they don't operate in India because of that re because of,

24:52

India specific regulations. Like he said, So, the pillpack for India is going to start in India, and it's gonna be us. Now the things that we do that are similar to pillpack is blank, blank, blank. That's been validated. The part we're doing that's new is this. That's how I would have pitched that business in order to, like, fast yeah. You know, make it faster for the for the investor to understand the size of the prize. Do you feel partial towards Indian startups?

India specific regulations. Like he said, So, the pillpack for India is going to start in India, and it's gonna be us. Now the things that we do that are similar to pillpack is blank, blank, blank. That's been validated. The part we're doing that's new is this. That's how I would have pitched that business in order to, like, fast yeah. You know, make it faster for the for the investor to understand the size of the prize. Do you feel partial towards Indian startups?

25:16

Like More so than a non more so. Yeah. More so than, like, I don't, like, a French start up or something?

Like More so than a non more so. Yeah. More so than, like, I don't, like, a French start up or something?

25:23

Yeah. Kind of. Like, I think I know a little bit more about the market. I've been there. I've, you know, family there. I've now invested in a bunch of companies there. So it all just builds over time. But also, it's a humongous market

Yeah. Kind of. Like, I think I know a little bit more about the market. I've been there. I've, you know, family there. I've now invested in a bunch of companies there. So it all just builds over time. But also, it's a humongous market

25:33

that

that

25:34

has just out of this, like, you know, what do you call those, like, inflection points or whatever? Basically,

has just out of this, like, you know, what do you call those, like, inflection points or whatever? Basically,

25:39

a billion people all got mobile phones with internet in the last, like, couple years. And that just, like, it's a it's a dramatic before and after.

a billion people all got mobile phones with internet in the last, like, couple years. And that just, like, it's a it's a dramatic before and after.

25:47

And,

And,

25:48

so, you know, serving that market and building solutions for that market is really awesome. Like, now it's a it's a golden cohort

so, you know, serving that market and building solutions for that market is really awesome. Like, now it's a it's a golden cohort

25:54

of companies because they're all riding the back of this thing where one company basically gave away four g internet,

of companies because they're all riding the back of this thing where one company basically gave away four g internet,

26:00

essentially dirt dirt cheap cost cheaper than in America. So a lot of people got online. You know what's fucked up though? Is that big company that was that it was a big Pakistani company that, like, everyone was a fan of air something? What was it called? Yeah. Air lift or something. It's like a Like all you I don't know if it was you, but a bunch of my friends were like, oh, this thing's this thing's awesome. This thing's awesome. And I remember thinking, like, I don't know anything about Pakistan, but all my smart friends say this is a good

essentially dirt dirt cheap cost cheaper than in America. So a lot of people got online. You know what's fucked up though? Is that big company that was that it was a big Pakistani company that, like, everyone was a fan of air something? What was it called? Yeah. Air lift or something. It's like a Like all you I don't know if it was you, but a bunch of my friends were like, oh, this thing's this thing's awesome. This thing's awesome. And I remember thinking, like, I don't know anything about Pakistan, but all my smart friends say this is a good

26:24

idea. And I was, like, really interested in it. And I think I ended up passing, but it went out of business. And whether it's good or bad, that impacts whether I wanna invest in a foreign company because I don't it, like, it's like, oh, I don't know, man. I don't know anything about this country. So I I have mixed feelings right now on on investing in locations that I know nothing about.

idea. And I was, like, really interested in it. And I think I ended up passing, but it went out of business. And whether it's good or bad, that impacts whether I wanna invest in a foreign company because I don't it, like, it's like, oh, I don't know, man. I don't know anything about this country. So I I have mixed feelings right now on on investing in locations that I know nothing about.

26:42

Yeah. My well, some of my worst investments came from,

Yeah. My well, some of my worst investments came from,

26:45

well, all these other smart people are doing it. And I don't know why they did it. I don't know if they're actually smart. I don't know if they, you know, what their assumptions are, what their context is, what they can afford to lose. And so I've made some pretty terrible decisions like that in the past. So that's famous last words for me is like, well, those other smart people are doing it.

well, all these other smart people are doing it. And I don't know why they did it. I don't know if they're actually smart. I don't know if they, you know, what their assumptions are, what their context is, what they can afford to lose. And so I've made some pretty terrible decisions like that in the past. So that's famous last words for me is like, well, those other smart people are doing it.

27:03

Yeah. Well, sometimes that works, though. It it worked once for me.

Yeah. Well, sometimes that works, though. It it worked once for me.

27:07

Alright, Steve. Campus Inc.

Alright, Steve. Campus Inc.

27:11

Campus Inc. College

Campus Inc. College

27:14

laundry?

laundry?

27:16

Close. Close. Close. Close. Close. Close. I don't know. Like, I got, like, a stain on my or it's, like, a a college tattoo parlor. I don't know.

Close. Close. Close. Close. Close. Close. I don't know. Like, I got, like, a stain on my or it's, like, a a college tattoo parlor. I don't know.

27:24

Love it. I haven't gotten that joke before, but I appreciate it. Well, let you go. Let's go ahead. Alright. Hey, everyone. My name is Steven. I'm the CEO of Campus Inc. Where a DTC and B2B merch platform powered by college athletes and college students,

Love it. I haven't gotten that joke before, but I appreciate it. Well, let you go. Let's go ahead. Alright. Hey, everyone. My name is Steven. I'm the CEO of Campus Inc. Where a DTC and B2B merch platform powered by college athletes and college students,

27:37

we build a licensed merch platforms for universities

we build a licensed merch platforms for universities

27:41

So every athlete in every sport has the ability to sell merch and profit off their name, image, and likeness.

So every athlete in every sport has the ability to sell merch and profit off their name, image, and likeness.

27:48

Meanwhile,

Meanwhile,

27:49

we train students on those campuses in design sales and marketing so they can support the athletes

we train students on those campuses in design sales and marketing so they can support the athletes

27:55

and sell to other organizations like the Greek system. Last year, we did four and a half million dollars in sales. This year, we're on pace to do seven million. Sean, you went to Duke, so I'm gonna pick on you a little bit. In another world, you're a five star recruit,

and sell to other organizations like the Greek system. Last year, we did four and a half million dollars in sales. This year, we're on pace to do seven million. Sean, you went to Duke, so I'm gonna pick on you a little bit. In another world, you're a five star recruit,

28:07

former coach k brings you in and introduces you to your new NIL director. You have the opportunity to sell your own branded Duke merch through Campus Inc. We're talking jerseys,

former coach k brings you in and introduces you to your new NIL director. You have the opportunity to sell your own branded Duke merch through Campus Inc. We're talking jerseys,

28:17

custom drops, limited releases,

custom drops, limited releases,

28:20

and you're gonna earn anywhere between eight to fifteen dollars per item sold. Your jerseys are gonna be sold in the stadium and online. And when you go to the final four, you're even gonna make money on final four apparel. When you go pro Sean, you're gonna be able to sell your Duke Jersey for the rest of your life.

and you're gonna earn anywhere between eight to fifteen dollars per item sold. Your jerseys are gonna be sold in the stadium and online. And when you go to the final four, you're even gonna make money on final four apparel. When you go pro Sean, you're gonna be able to sell your Duke Jersey for the rest of your life.

28:37

At the University of Illinois,

At the University of Illinois,

28:39

we made our college basketball team over hundred thousand dollars in the regular season at ill at and Mark Cuban invested in us over a cold email.

we made our college basketball team over hundred thousand dollars in the regular season at ill at and Mark Cuban invested in us over a cold email.

28:48

He's helping us take this to every college across the country. So far we have over six hundred athletes in our queue. We've signed fifteen schools, including Duke, Yukon,

He's helping us take this to every college across the country. So far we have over six hundred athletes in our queue. We've signed fifteen schools, including Duke, Yukon,

28:59

Syracuse, and most of the big ten.

Syracuse, and most of the big ten.

29:02

Our platform solves a few significant problems.

Our platform solves a few significant problems.

29:05

One, we noticed that diversities are desperate to show they're supporting their athletes in this new NIL space. Coaches are losing recruits because other schools are moving faster.

One, we noticed that diversities are desperate to show they're supporting their athletes in this new NIL space. Coaches are losing recruits because other schools are moving faster.

29:15

They need a solution,

They need a solution,

29:16

we have it, and we're there, we're there for them. There's also over a hundred and eighty thousand d

we have it, and we're there, we're there for them. There's also over a hundred and eighty thousand d

29:22

one athletes who are all micro influencers and don't have the time, resources, or skills

one athletes who are all micro influencers and don't have the time, resources, or skills

29:27

to run their own merch platform, we're we're there to help them. Finally, we know that traditional D to C is throttled and at the mercy of Facebook,

to run their own merch platform, we're we're there to help them. Finally, we know that traditional D to C is throttled and at the mercy of Facebook,

29:35

we'd rather reward the students.

we'd rather reward the students.

29:37

We think we have an unfair advantage in acquiring customers When we sign schools, they connect to athletes and athletes connect with fans, and that's how we sell merch at Campus Inc. Alright.

We think we have an unfair advantage in acquiring customers When we sign schools, they connect to athletes and athletes connect with fans, and that's how we sell merch at Campus Inc. Alright.

29:50

Wow.

Wow.

29:51

Wow. No small boy stuff. No small boy stuff, dude. I see you put me a lot of your own, no small boy stuff. Actually, I got a bone to pick with Sean.

Wow. No small boy stuff. No small boy stuff, dude. I see you put me a lot of your own, no small boy stuff. Actually, I got a bone to pick with Sean.

30:01

Or Sam, Sam, Sam. Sorry, Sam. I designed you guys a merch platform.

Or Sam, Sam, Sam. Sorry, Sam. I designed you guys a merch platform.

30:06

Here, check this out. Oh, I remember

Here, check this out. Oh, I remember

30:09

dude. Nice. I remember okay. Let me that is awesome. And I think I replied

dude. Nice. I remember okay. Let me that is awesome. And I think I replied

30:11

with

with

30:15

send me that shirt. I want it. Well, I said I said we could actually, the site is live right now. I bought the domain too. What is it? M f m pod dot shop.

send me that shirt. I want it. Well, I said I said we could actually, the site is live right now. I bought the domain too. What is it? M f m pod dot shop.

30:24

Okay.

Okay.

30:25

Let now let me tell you something.

Let now let me tell you something.

30:27

I wasn't trying to be an asshole to you. I'm just an asshole to everyone who sends you those. That's why I'm helping Sean out with the Duke stuff. So, we I get I don't know about you, Sean. I bet he does it even more so. I get, like, five or ten of those a week of someone saying, I wanted to buy a merch, so we just, like, made a store for you. And I just I I politely tell them to fuck off. And I think I that's what I said to you. Right? Yeah. I forwarded that to Mark as well. Why I didn't wanna come on the pod. No. I'm just kidding.

I wasn't trying to be an asshole to you. I'm just an asshole to everyone who sends you those. That's why I'm helping Sean out with the Duke stuff. So, we I get I don't know about you, Sean. I bet he does it even more so. I get, like, five or ten of those a week of someone saying, I wanted to buy a merch, so we just, like, made a store for you. And I just I I politely tell them to fuck off. And I think I that's what I said to you. Right? Yeah. I forwarded that to Mark as well. Why I didn't wanna come on the pod. No. I'm just kidding.

30:54

So now that we're friends, not not for you nicer. Yeah. You're crazy. We should do swag. Okay. But I know back to his business. Let's go back to his business. Okay. So,

So now that we're friends, not not for you nicer. Yeah. You're crazy. We should do swag. Okay. But I know back to his business. Let's go back to his business. Okay. So,

31:03

so I really like a bunch of things about this business, but I have some questions. Okay. So so what do I like? I like that you're basically riding the wave of this regulatory change, the NIL chains that just went into effect. And that means all the businesses that need to serve that market of college athletes finally being able to monetize their name and likeness, which is what denial is about.

so I really like a bunch of things about this business, but I have some questions. Okay. So so what do I like? I like that you're basically riding the wave of this regulatory change, the NIL chains that just went into effect. And that means all the businesses that need to serve that market of college athletes finally being able to monetize their name and likeness, which is what denial is about.

31:23

That though all those business are being created, you know, last year, this year, and it sounds like you're you you were early on that way. Couple quick questions. Can you use the team logos like you did there? And so so you don't need a special license for that. So that is a special license, but But we go to the university and we basically pitch to them that we have an inclusive and holistic solution. So every sport, every athlete, softball, baseball rowing. Right. Good. They grant us the IP, and then we're able to build them a whole school platform.

That though all those business are being created, you know, last year, this year, and it sounds like you're you you were early on that way. Couple quick questions. Can you use the team logos like you did there? And so so you don't need a special license for that. So that is a special license, but But we go to the university and we basically pitch to them that we have an inclusive and holistic solution. So every sport, every athlete, softball, baseball rowing. Right. Good. They grant us the IP, and then we're able to build them a whole school platform.

31:50

And so, yeah, we're able to do what's called co licensed merchandise, which is a very specific segment of licensing, and we've got those at fifteen schools. You're like, we've just told tens of women's lacrosse sweats or Well, I'll be I'll be honest. Biggest one of our biggest rev generators was women's softball at, like, Virginia tech. The girls just crushed it and they were in, like, world series and people are buying their stuff. I mean, it's not just football and basketball. Amazing.

And so, yeah, we're able to do what's called co licensed merchandise, which is a very specific segment of licensing, and we've got those at fifteen schools. You're like, we've just told tens of women's lacrosse sweats or Well, I'll be I'll be honest. Biggest one of our biggest rev generators was women's softball at, like, Virginia tech. The girls just crushed it and they were in, like, world series and people are buying their stuff. I mean, it's not just football and basketball. Amazing.

32:16

Mhmm. What's,

Mhmm. What's,

32:16

Leerfield?

Leerfield?

32:17

Someone was saying how Leerfield owns ninety percent of the licensing rights And if I know nothing about it other than, three seconds on Wikipedia,

Someone was saying how Leerfield owns ninety percent of the licensing rights And if I know nothing about it other than, three seconds on Wikipedia,

32:26

if they

if they

32:27

own it, can you also get it? So Leerfield, it owns collegiate licensing. We get the license from them. So they are the license clearing house on behalf of the university.

own it, can you also get it? So Leerfield, it owns collegiate licensing. We get the license from them. So they are the license clearing house on behalf of the university.

32:38

So when we go to Duke, for instance, we talk to Duke, pitch them. They say, okay. Go apply for your license. You go log on to Leerfield. Apply.

So when we go to Duke, for instance, we talk to Duke, pitch them. They say, okay. Go apply for your license. You go log on to Leerfield. Apply.

32:45

Duke accepts it in the back end. They're just the exchange that you use. And is it in is Leerfield incentivized to let you guys grow? Like, you know, at some point do they see this as competitive to what they do? Well, so so there's different parts of Leerfield. Leerfield is a licensing arm for the university. So they're there to protect the IP of the university.

Duke accepts it in the back end. They're just the exchange that you use. And is it in is Leerfield incentivized to let you guys grow? Like, you know, at some point do they see this as competitive to what they do? Well, so so there's different parts of Leerfield. Leerfield is a licensing arm for the university. So they're there to protect the IP of the university.

33:04

But when we have something that's a really unique segment, it's hard for the university to just say no. If I just wanted to sell if, like, just Duke merch, Duke could be like, no. We've got hundreds of other people doing it. But the fact that we're in a very niche vertical

But when we have something that's a really unique segment, it's hard for the university to just say no. If I just wanted to sell if, like, just Duke merch, Duke could be like, no. We've got hundreds of other people doing it. But the fact that we're in a very niche vertical

33:17

the universities are more inclined to create the best apple opportunities for their athletes. It'd be silly for them to say no because he'd be taking away opportunities for them.

the universities are more inclined to create the best apple opportunities for their athletes. It'd be silly for them to say no because he'd be taking away opportunities for them.

33:26

By the way, we have five hundred people watching live. I think your startup has a hundred forty thousand of total interest, which is pretty dope. People in the phone.

By the way, we have five hundred people watching live. I think your startup has a hundred forty thousand of total interest, which is pretty dope. People in the phone.

33:34

I'm thirty.

I'm thirty.

33:36

You, you got that, that young twenty two year old dog energy.

You, you got that, that young twenty two year old dog energy.

33:41

There you go. I'm a dog. There it is. I'm a dog.

There you go. I'm a dog. There it is. I'm a dog.

33:44

Thank you for proving my point.

Thank you for proving my point.

33:46

Did I have a hotdog on it? Dude, put those two shirts in in a package and please send them to me. I'll venmo you.

Did I have a hotdog on it? Dude, put those two shirts in in a package and please send them to me. I'll venmo you.

33:54

Those are awesome. He's like, dude, he's like, I have a store. Just go buy it. Why don't you want me to be a coupon code? Give me a yeah. Give me that coupon.

Those are awesome. He's like, dude, he's like, I have a store. Just go buy it. Why don't you want me to be a coupon code? Give me a yeah. Give me that coupon.

34:02

What about, and I like you're doing this franchise model. Right? So you're basically gonna get, like, kind of

What about, and I like you're doing this franchise model. Right? So you're basically gonna get, like, kind of

34:07

passionate cheap labor on the campuses

passionate cheap labor on the campuses

34:10

and and you're gonna have this set up on each campus where they do the design, the marketing. Yeah. And and we already have that up until NIL came about. That was our thematic approach. We teach college students design and sales. So right now, we have a hundred and fifty students on forty campuses.

and and you're gonna have this set up on each campus where they do the design, the marketing. Yeah. And and we already have that up until NIL came about. That was our thematic approach. We teach college students design and sales. So right now, we have a hundred and fifty students on forty campuses.

34:23

They're really big into the Greek system, but now that we have the Greek system and sports,

They're really big into the Greek system, but now that we have the Greek system and sports,

34:27

it makes it so much easier for our students across the country. So Gotcha. Okay. So this is kind of a a pivot or a little bit. It's just it's just ad it's just opening our opportunity because four, you couldn't do really sports. Now it's

it makes it so much easier for our students across the country. So Gotcha. Okay. So this is kind of a a pivot or a little bit. It's just it's just ad it's just opening our opportunity because four, you couldn't do really sports. Now it's

34:39

you can do just about everything. When did you,

you can do just about everything. When did you,

34:42

start this company and, like, how much money have you already raised? So I bought out a little print shop,

start this company and, like, how much money have you already raised? So I bought out a little print shop,

34:48

right after graduating college. I had a Brian scalabrine design go viral when I was in school.

right after graduating college. I had a Brian scalabrine design go viral when I was in school.

34:54

And so I I had enough money to buy this little print shop out. We've since scaled that.

And so I I had enough money to buy this little print shop out. We've since scaled that.

34:59

And so we just got Mark's investment for two hundred and fifty thousand dollars.

And so we just got Mark's investment for two hundred and fifty thousand dollars.

35:03

Other than that, everything else was bootstrapped from the ground up. So this is the first time we're actually raising capital. So we still own most of the company.

Other than that, everything else was bootstrapped from the ground up. So this is the first time we're actually raising capital. So we still own most of the company.

35:12

And we are cash flow positive. We we should be profitable this year. There is, like, a first movers. Like, we gotta land grab all these schools pretty quick. Okay. You gotta stop Sam's getting too excited.

And we are cash flow positive. We we should be profitable this year. There is, like, a first movers. Like, we gotta land grab all these schools pretty quick. Okay. You gotta stop Sam's getting too excited.

35:21

This is a a video at a family show. We can't, we can't cross the line here. So you're saying all the right words. Yeah. I mean I love you. I think I love you. I

This is a a video at a family show. We can't, we can't cross the line here. So you're saying all the right words. Yeah. I mean I love you. I think I love you. I

35:31

I've been, and my wife is definitely a no. I'm I'm I'm totally interested. I I think you've got a lot of charisma got a lot of charm, your your all those the story about buying the small print shop and then getting Mark Cuban via cold email. I know that it looks like you have LightBank onboard. They seem like sharks. I don't know much about them, but they seem like if you got that side. Groupon. Yeah. Yeah. It's Eric.

I've been, and my wife is definitely a no. I'm I'm I'm totally interested. I I think you've got a lot of charisma got a lot of charm, your your all those the story about buying the small print shop and then getting Mark Cuban via cold email. I know that it looks like you have LightBank onboard. They seem like sharks. I don't know much about them, but they seem like if you got that side. Groupon. Yeah. Yeah. It's Eric.

35:52

You you you have a very interesting,

You you you have a very interesting,

35:54

energy about you. So I'm definitely interested in learning more. They're telling us it's time. I got one last question for you, which is these ideas sound fun, and I often run away from fun ideas because you know, a bunch of people go try to do it. Maybe the opportunity's not that big because it's it's fun and sexy.

energy about you. So I'm definitely interested in learning more. They're telling us it's time. I got one last question for you, which is these ideas sound fun, and I often run away from fun ideas because you know, a bunch of people go try to do it. Maybe the opportunity's not that big because it's it's fun and sexy.

36:11

The the big, like, YouTuber merch back end stores, like Vanjoy and some of these other ones, like They pretty much all suck. Right? None of them got huge. What's the difference here? Okay.

The the big, like, YouTuber merch back end stores, like Vanjoy and some of these other ones, like They pretty much all suck. Right? None of them got huge. What's the difference here? Okay.

36:22

So you have to think about, like, why we're defensible is because we're we're essentially enabling our athletes to do the marketing for us. Right? And so if you have three hundred athletes at the University of Indiana all pushing this store,

So you have to think about, like, why we're defensible is because we're we're essentially enabling our athletes to do the marketing for us. Right? And so if you have three hundred athletes at the University of Indiana all pushing this store,

36:35

every year, the school's gonna be adding more athletes,

every year, the school's gonna be adding more athletes,

36:38

And then they're gonna be pushing those into our big funnel. So, like, at the University of Illinois, we're sitting on twenty thousand alumni emails, and now we can step up to fanatics and start competing with them because all of our customer acquisition is rooted in the kids that are actually playing. Does that make sense? Yes. Okay. So so spring.

And then they're gonna be pushing those into our big funnel. So, like, at the University of Illinois, we're sitting on twenty thousand alumni emails, and now we can step up to fanatics and start competing with them because all of our customer acquisition is rooted in the kids that are actually playing. Does that make sense? Yes. Okay. So so spring.

36:56

So T spring is,

So T spring is,

36:58

the platform actually Walker is one of my good friends. Yeah. Yeah. Yeah. And so, like, a lot of our stuff There's a small circle of us that have are raising money in the tech space and apparel. We all talk to each other. So a lot of this is calling on a lot of each other's APIs.

the platform actually Walker is one of my good friends. Yeah. Yeah. Yeah. And so, like, a lot of our stuff There's a small circle of us that have are raising money in the tech space and apparel. We all talk to each other. So a lot of this is calling on a lot of each other's APIs.

37:12

And and using a lot of the tech that's what? You print through them? No. We we could print through, like, we have our own facility, but that doesn't scale.

And and using a lot of the tech that's what? You print through them? No. We we could print through, like, we have our own facility, but that doesn't scale.

37:20

And so,

And so,

37:22

our CTO actually came from a company called printavo shot out Bruce Ackerman. He got acquired recently. And so we can connect to thousands of print shops across the country.

our CTO actually came from a company called printavo shot out Bruce Ackerman. He got acquired recently. And so we can connect to thousands of print shops across the country.

37:31

And so we have the ability to connect the same way T spring does, custom,

And so we have the ability to connect the same way T spring does, custom,

37:35

all the bigger guys. Right. Where where where do you live? Limmond Chicago?

all the bigger guys. Right. Where where where do you live? Limmond Chicago?

37:39

Nice, dude. You wanna hang? Sam's coming over. Yeah. Okay.

Nice, dude. You wanna hang? Sam's coming over. Yeah. Okay.

37:43

Alright. You're talking dirty to me. Midwestern guy. Do it all this stuff. I'm I'm very interested.

Alright. You're talking dirty to me. Midwestern guy. Do it all this stuff. I'm I'm very interested.

37:48

Yeah. Thanks, Steven. Great job, Tim. Thanks.

Yeah. Thanks, Steven. Great job, Tim. Thanks.

37:51

I like it, man. Beck, I had some charisma. I think the business is

I like it, man. Beck, I had some charisma. I think the business is

37:56

more than mildly interesting.

more than mildly interesting.

37:58

Yeah. Yeah. He's a good entrepreneur. You could tell, that he has, like, a bunch of the little, like, green flags that you would have to be a good Murray he's got.

Yeah. Yeah. He's a good entrepreneur. You could tell, that he has, like, a bunch of the little, like, green flags that you would have to be a good Murray he's got.

38:06

And,

And,

38:07

and I think he's got a really interesting opportunity here because of the NIL change.

and I think he's got a really interesting opportunity here because of the NIL change.

38:12

And, that's that answers the big why now question. Why okay. The idea of printed t shirt swag is, like, you know, the oldest solution in the book, But there's a new problem. And that the new problem is that all of a sudden athletes can do this. They've never could, but they don't know where to start, and they're not gonna wanna do all this so being the company that partners with him, that's I think it's really strong. These ecomm plays can be freaking tough man. Walker, William, who is The hard part here is as upside. Right? Like, is this a is this a billion dollar company? Is this a hun is this a ten billion dollar company? There's basically no way this is a ten billion dollar company. Unlikely it's even a billion dollar company. So that's the hard part. He's gonna raise on, like, tech valuation terms. Right? He's ten he's a million cap right now. Yeah. But what is his revenue?

And, that's that answers the big why now question. Why okay. The idea of printed t shirt swag is, like, you know, the oldest solution in the book, But there's a new problem. And that the new problem is that all of a sudden athletes can do this. They've never could, but they don't know where to start, and they're not gonna wanna do all this so being the company that partners with him, that's I think it's really strong. These ecomm plays can be freaking tough man. Walker, William, who is The hard part here is as upside. Right? Like, is this a is this a billion dollar company? Is this a hun is this a ten billion dollar company? There's basically no way this is a ten billion dollar company. Unlikely it's even a billion dollar company. So that's the hard part. He's gonna raise on, like, tech valuation terms. Right? He's ten he's a million cap right now. Yeah. But what is his revenue?

38:57

I don't know yet. He didn't he didn't say. He said seven he said seven million this year, I think he said.

I don't know yet. He didn't he didn't say. He said seven he said seven million this year, I think he said.

39:03

I mean, it's an ecom seven million is, like, not very much. Right. So but the this is none four million last year, he said.

I mean, it's an ecom seven million is, like, not very much. Right. So but the this is none four million last year, he said.

39:11

This is it crosses the threshold

This is it crosses the threshold

39:14

so four million last year, seven million this year, it crosses the threshold of being interesting enough to not say no at least for me.

so four million last year, seven million this year, it crosses the threshold of being interesting enough to not say no at least for me.

39:20

Yeah. The one thing I would wanna be figuring out here is, okay, cool. You're gonna raise this money at ten.

Yeah. The one thing I would wanna be figuring out here is, okay, cool. You're gonna raise this money at ten.

39:26

Are you gonna raise money again? And is your do you look at does he think about this mentally? Like, oh, I'm a tech founder. I'm gonna raise my seed, my series a, my series b, my series c. If so, I'd have to get off the train. But if he's basically like, hey, I'm I'm gonna fund this and value this based on the category that I'm in,

Are you gonna raise money again? And is your do you look at does he think about this mentally? Like, oh, I'm a tech founder. I'm gonna raise my seed, my series a, my series b, my series c. If so, I'd have to get off the train. But if he's basically like, hey, I'm I'm gonna fund this and value this based on the category that I'm in,

39:44

which is, you know, let's say, in this case, e commerce, I think our tech enabled e commerce, I think that there would be a,

which is, you know, let's say, in this case, e commerce, I think our tech enabled e commerce, I think that there would be a,

39:50

a better conversation there. So that I think that's my only concern is how big is the is the prize. I like I like everything he's doing, but that part's not in his control.

a better conversation there. So that I think that's my only concern is how big is the is the prize. I like I like everything he's doing, but that part's not in his control.

39:58

Yeah. Well, I felt bad for being rude to him. So I'll,

Yeah. Well, I felt bad for being rude to him. So I'll,

40:03

I'll I'll look at it.

I'll I'll look at it.

40:05

This data is wrong every freaking time.

This data is wrong every freaking time.

40:08

Have you heard of HubSpot?

Have you heard of HubSpot?

40:10

HubSpot is a CRM platform where everything is fully integrated. Well, I can see the clients hold history, calls, support tickets, emails, and

HubSpot is a CRM platform where everything is fully integrated. Well, I can see the clients hold history, calls, support tickets, emails, and

40:18

Here's a test from three days ago. I totally missed.

Here's a test from three days ago. I totally missed.

40:22

Hubspot. Girl better.

Hubspot. Girl better.

40:26

Alright. Next, Tara Shroom.

Alright. Next, Tara Shroom.

40:28

Jared from Tara Shroom.

Jared from Tara Shroom.

40:30

What's up, guys? How are we doing? What's up? I take it away. Alright. Same and Sean. Do people listen to my first million podcasts?

What's up, guys? How are we doing? What's up? I take it away. Alright. Same and Sean. Do people listen to my first million podcasts?

40:38

Well,

Well,

40:39

it's because they wanna make more money. Quintincially,

it's because they wanna make more money. Quintincially,

40:42

it's unfair says, of all the billionaires I personally know, Almost without exception, use mushrooms on a regular basis. So if you wanna step up the podcast to my first billion, you might be interested in what we're building.

it's unfair says, of all the billionaires I personally know, Almost without exception, use mushrooms on a regular basis. So if you wanna step up the podcast to my first billion, you might be interested in what we're building.

40:54

So Terish Room is really straightforward. It's a patent pending mushroom grow chamber that is intelligent and automated.

So Terish Room is really straightforward. It's a patent pending mushroom grow chamber that is intelligent and automated.

41:00

And so that way anyone can grow mushrooms at home effortlessly.

And so that way anyone can grow mushrooms at home effortlessly.

41:03

And the problem is is while a lot of people want to grow mushrooms at home,

And the problem is is while a lot of people want to grow mushrooms at home,

41:08

growing mushrooms is complicated and it's an eyesore. And I've been growing mushrooms for nearly six years now, so I'm speaking for my own personal experience.

growing mushrooms is complicated and it's an eyesore. And I've been growing mushrooms for nearly six years now, so I'm speaking for my own personal experience.

41:16

But mushrooms, they're becoming a wildly popular and the space is blowing up with billions that are spent on mushrooms annually.

But mushrooms, they're becoming a wildly popular and the space is blowing up with billions that are spent on mushrooms annually.

41:23

So let's transition a bit and let's talk about product market fit where we're at. So past about two months, we spent about four thousand five hundred dollars in Facebook ads. And this has resulted in nearly sixty five thousand dollars worth of pre orders. And how are business models set up? We have subscription revenue, basically, gross supplies that we send every single month. When you factor this in, we're looking at over a hundred thousand dollars when you factor in this subscription LTV.

So let's transition a bit and let's talk about product market fit where we're at. So past about two months, we spent about four thousand five hundred dollars in Facebook ads. And this has resulted in nearly sixty five thousand dollars worth of pre orders. And how are business models set up? We have subscription revenue, basically, gross supplies that we send every single month. When you factor this in, we're looking at over a hundred thousand dollars when you factor in this subscription LTV.

41:45

And this is the team that's making it all possible. So,

And this is the team that's making it all possible. So,

41:48

team is stacked with deep technical, operational,

team is stacked with deep technical, operational,

41:51

and sales experience. We're able to pull exits and IPOs under our belt. And one of you might even recognize is an old friend of your Sam as well as former guests on this podcast, Justin Mayer. So what we're looking for is, five hundred thousand dollars at a three point five post money valuation. This is gonna help cover all manufacturing costs, get us slated for a q four launch and ultimately shipping out in, q one of next year.

and sales experience. We're able to pull exits and IPOs under our belt. And one of you might even recognize is an old friend of your Sam as well as former guests on this podcast, Justin Mayer. So what we're looking for is, five hundred thousand dollars at a three point five post money valuation. This is gonna help cover all manufacturing costs, get us slated for a q four launch and ultimately shipping out in, q one of next year.

42:12

So guys, like, if you wanna be part of building a product that's helping people become happier,

So guys, like, if you wanna be part of building a product that's helping people become happier,

42:17

healthier, and maybe even produce a few more billionaires,

healthier, and maybe even produce a few more billionaires,

42:20

then we'd love your help to make this happen. Thank you.

then we'd love your help to make this happen. Thank you.

42:25

Dude, that Tim Ferris quote ambitious.

Dude, that Tim Ferris quote ambitious.

42:29

That's a very rich quote. Is that real? He's at every single one of his billionaire friends takes mushrooms.

That's a very rich quote. Is that real? He's at every single one of his billionaire friends takes mushrooms.

42:36

A derivative of mushrooms we can say. But, yes.

A derivative of mushrooms we can say. But, yes.

42:41

Interesting.

Interesting.

42:43

Well, good pitch. It looks good. So so explain what it is. It's a it's a home brew kit for growing

Well, good pitch. It looks good. So so explain what it is. It's a it's a home brew kit for growing

42:49

shrooms. Yeah.

shrooms. Yeah.

42:51

In any type of mushroom species. So let me give a little bit of backup. So,

In any type of mushroom species. So let me give a little bit of backup. So,

42:55

there's a couple of companies that are kind of in the space right now. One is back the roots. They're doing over a hundred million dollars right now in revenue per year. Okay. Back to the roots, it's doing a hundred million in revenue.

there's a couple of companies that are kind of in the space right now. One is back the roots. They're doing over a hundred million dollars right now in revenue per year. Okay. Back to the roots, it's doing a hundred million in revenue.

43:04

Yep. And then there's mud water. There's for sigmatic. Basically, when you take care of some companies that are in this space, they're doing nearly a quarter billion dollars from three companies alone.

Yep. And then there's mud water. There's for sigmatic. Basically, when you take care of some companies that are in this space, they're doing nearly a quarter billion dollars from three companies alone.

43:14

What we're doing right now is we have a Trojan horse. This is a beautiful grow chamber that gets people in the app ecosystem

What we're doing right now is we have a Trojan horse. This is a beautiful grow chamber that gets people in the app ecosystem

43:20

where we have awesome upsell opportunities into other verticals.

where we have awesome upsell opportunities into other verticals.

43:24

The long term play is ultimately therapeutic. So when you think of, like, the the science, the research is irrefutable, legislation is changing. It's twenty twenty two. Big pharma, quite frankly, they're they're scared. They see the science.

The long term play is ultimately therapeutic. So when you think of, like, the the science, the research is irrefutable, legislation is changing. It's twenty twenty two. Big pharma, quite frankly, they're they're scared. They see the science.

43:35

And so we just have a really, really cheap way to basically super cheap customer acquisition costs, get people in the ecosystem, then ultimately down the line. We can almost go down to, like, telehealth and a lot of, like, we're basically we're not selling Adam's

And so we just have a really, really cheap way to basically super cheap customer acquisition costs, get people in the ecosystem, then ultimately down the line. We can almost go down to, like, telehealth and a lot of, like, we're basically we're not selling Adam's

43:48

we're ultimately selling, like, ones and zeros or bits and bytes.

we're ultimately selling, like, ones and zeros or bits and bytes.

43:52

So let me pause you. So you said back to the roots does a hundred million dollars, and you're like, that's a comparable

So let me pause you. So you said back to the roots does a hundred million dollars, and you're like, that's a comparable

43:57

But I go to back to the roots, and it's, like, you know, moms and their kids, and they're growing plants at home is what it looks like. Not, like,

But I go to back to the roots, and it's, like, you know, moms and their kids, and they're growing plants at home is what it looks like. Not, like,

44:04

you know, high achievers taking mushrooms to be happy because they the money they're They're cool moms. Yeah.

you know, high achievers taking mushrooms to be happy because they the money they're They're cool moms. Yeah.

44:10

Cool moms. Yeah. This seems like a totally different thing. So so let me, talk a little bit about distinct, distinction.

Cool moms. Yeah. This seems like a totally different thing. So so let me, talk a little bit about distinct, distinction.

44:17

You can grow any type of mushrooms in this gourmet medicinal,

You can grow any type of mushrooms in this gourmet medicinal,

44:20

other varieties as well. This is not limited to the type that you're thinking out as well as you can even grow microgreens. I mean, this is ultimately a containerized grow environment that gives you full control over all environmental settings.

other varieties as well. This is not limited to the type that you're thinking out as well as you can even grow microgreens. I mean, this is ultimately a containerized grow environment that gives you full control over all environmental settings.

44:32

So there's a lot that can happen in this. And that's the exciting part is we have an IoT device that's connected in the home. You guys know what's happened with soda stream, trigger grills,

So there's a lot that can happen in this. And that's the exciting part is we have an IoT device that's connected in the home. You guys know what's happened with soda stream, trigger grills,

44:41

doing hundreds of millions of dollars in revenue exact same thing, and this is exactly where we're skittings where the puck is. And so why do you pitch it like it's the, like, psychedelics thing versus,

doing hundreds of millions of dollars in revenue exact same thing, and this is exactly where we're skittings where the puck is. And so why do you pitch it like it's the, like, psychedelics thing versus,

44:52

hey, we're sodastream for growing, like, you know, veggies or whatever the hell, like micro veggies, whatever.

hey, we're sodastream for growing, like, you know, veggies or whatever the hell, like micro veggies, whatever.

44:58

There's there's a couple there's a couple people in the whole space right now, when it comes to,

There's there's a couple there's a couple people in the whole space right now, when it comes to,

45:04

you know, like hydroponic growth solutions for, like, lettuce.

you know, like hydroponic growth solutions for, like, lettuce.

45:07

I think, you know, the truth is is, like, what we're just seeing is, the green rush happened a couple years ago, about a decade ago in California. We're seeing the exact same thing happen in the mushroom space.

I think, you know, the truth is is, like, what we're just seeing is, the green rush happened a couple years ago, about a decade ago in California. We're seeing the exact same thing happen in the mushroom space.

45:18

And that is where there's going to be billions and billions of dollars to be made.

And that is where there's going to be billions and billions of dollars to be made.

45:23

So you can sell. I I I know nothing about mushrooms.

So you can sell. I I I know nothing about mushrooms.

45:27

So you can sell that stuff?

So you can sell that stuff?

45:29

So here's the thing. What we are selling,

So here's the thing. What we are selling,

45:32

just to be clear, what we are selling is just grow chamber, we're just selling hardware and we'll say, basically sell some raw ingredients you can buy from the store or what, what have you. And we will also sell basically the growth supplies if you wanna do gourmet varieties.

just to be clear, what we are selling is just grow chamber, we're just selling hardware and we'll say, basically sell some raw ingredients you can buy from the store or what, what have you. And we will also sell basically the growth supplies if you wanna do gourmet varieties.

45:45

Fun fact, it's not something that most people don't know. You can grow you can order any type of mushroom spore varieties

Fun fact, it's not something that most people don't know. You can grow you can order any type of mushroom spore varieties

45:53

if you catch my drift because they do not contain

if you catch my drift because they do not contain

45:56

the psychoactive ingredient and forty seven of the fifty US states. This is a legal loophole. I've been growing them for about six years,

the psychoactive ingredient and forty seven of the fifty US states. This is a legal loophole. I've been growing them for about six years,

46:02

all all different types. So it's something that not many people know, but it's becoming very well established. Are you on shrooms right now?

all all different types. So it's something that not many people know, but it's becoming very well established. Are you on shrooms right now?

46:15

Okay. This is okay. He missed he didn't answer.

Okay. This is okay. He missed he didn't answer.

46:20

No. He's got his wits about him. Alright.

No. He's got his wits about him. Alright.

46:22

Okay. So you're so you're doing this. And do you think that also, like, you're growing through paid ads and through paid ads, you're like, okay.

Okay. So you're so you're doing this. And do you think that also, like, you're growing through paid ads and through paid ads, you're like, okay.

46:29

We're not gonna get,

We're not gonna get,

46:31

you know, blocked by Facebook for basically saying, you know, grow your own weed at home. Like, you know, that's what they wouldn't allow that, but you're gonna basically be able to to show this terraneum, you know, this home, you know, a little trade that you're gonna be able to buy. Yeah. Yeah. So, actually, you know, it's funny, talking to customers. We're doing a huge pivot away from actually a whole, like, anything psychedelic. So it's actually just very much like generic. So, I'm taking it very much more down a PC route to basically just grab a much wider audience.

you know, blocked by Facebook for basically saying, you know, grow your own weed at home. Like, you know, that's what they wouldn't allow that, but you're gonna basically be able to to show this terraneum, you know, this home, you know, a little trade that you're gonna be able to buy. Yeah. Yeah. So, actually, you know, it's funny, talking to customers. We're doing a huge pivot away from actually a whole, like, anything psychedelic. So it's actually just very much like generic. So, I'm taking it very much more down a PC route to basically just grab a much wider audience.

46:56

Wow.

Wow.

46:58

Oh, okay. So so you have some interest here. If you have forty k of interest, but you've you're raising six hundred and five thousand. Is that right?

Oh, okay. So so you have some interest here. If you have forty k of interest, but you've you're raising six hundred and five thousand. Is that right?

47:07

Now sorry. Am I reading this wrong? He's raising two hundred fifty k. Two hundred fifty k at a three point three million cap. Six hundred five is, like, in this whole session, how many people have been interested in funding things. He's got How is this business?

Now sorry. Am I reading this wrong? He's raising two hundred fifty k. Two hundred fifty k at a three point three million cap. Six hundred five is, like, in this whole session, how many people have been interested in funding things. He's got How is this business?

47:19

And what's gonna happen? Like, where where what do you think the exit is?

And what's gonna happen? Like, where where what do you think the exit is?

47:22

Yeah. I have a great question.

Yeah. I have a great question.

47:24

So honestly, I've just been working on this, for the past few months, everything from the catalog design, you know, literally everything you've seen,

So honestly, I've just been working on this, for the past few months, everything from the catalog design, you know, literally everything you've seen,

47:33

done myself. So, basically, we're getting ready for,

done myself. So, basically, we're getting ready for,

47:36

getting some engineering validation testing. And then ultimately exit strategy is, I mean,

getting some engineering validation testing. And then ultimately exit strategy is, I mean,

47:42

extremely profitable,

extremely profitable,

47:44

you know, acquisitions. I mean, it's just like the truth is, it's like we like to make money. That's why, you know, we're on this podcast. Right? But,

you know, acquisitions. I mean, it's just like the truth is, it's like we like to make money. That's why, you know, we're on this podcast. Right? But,

47:51

there's a lot of different ways to give us a unit economics real quick. You can make them you can make the device for what the ship, like basically, the the cogs plus the shipping is what and what do you sell it for? Yeah. Perfect. So, what we're looking right now is forty nine dollars and some change. For,

there's a lot of different ways to give us a unit economics real quick. You can make them you can make the device for what the ship, like basically, the the cogs plus the shipping is what and what do you sell it for? Yeah. Perfect. So, what we're looking right now is forty nine dollars and some change. For,

48:06

manufacturing, when you factor in CAC, when you factor in three PL, basically, the landed cost you're looking at about one twenty eight.

manufacturing, when you factor in CAC, when you factor in three PL, basically, the landed cost you're looking at about one twenty eight.

48:12

MSRP is three ninety nine. And then we have a twenty nine dollar a month,

MSRP is three ninety nine. And then we have a twenty nine dollar a month,

48:17

subscription.

subscription.

48:18

So basically, you're looking at total about seven hundred dollars

So basically, you're looking at total about seven hundred dollars

48:22

for the customer LTV based off of, like, about a thirty some dollar cat.

for the customer LTV based off of, like, about a thirty some dollar cat.

48:28

Alright. Okay. That's time. Thank you, dude. Thanks, Jared.

Alright. Okay. That's time. Thank you, dude. Thanks, Jared.

48:33

Dude, it's crazy, man. Valuations have changed. He's raising on a three point three million dollar cap. I was thinking about, like, the upside here.

Dude, it's crazy, man. Valuations have changed. He's raising on a three point three million dollar cap. I was thinking about, like, the upside here.

48:42

Hey, Scott. Angel doesn't get far more attractive in the last three months.

Hey, Scott. Angel doesn't get far more attractive in the last three months.

48:46

Yeah. These valuations were all extremely reasonable. And I think they were all also very early stage. So these are, like, pre seed type of investments, which is great because, you know, that's where a lot of money can be made.

Yeah. These valuations were all extremely reasonable. And I think they were all also very early stage. So these are, like, pre seed type of investments, which is great because, you know, that's where a lot of money can be made.

48:57

Yeah, my wife's definitely out on this one. My wife who has never set a curse word, never drank a drop of alcohol. I don't think she's, I don't think she's a believer that, Would would you ever do shrooms?

Yeah, my wife's definitely out on this one. My wife who has never set a curse word, never drank a drop of alcohol. I don't think she's, I don't think she's a believer that, Would would you ever do shrooms?

49:09

I don't know. Probably not. I don't I don't know. I've been trying to tell my wife to do it this year. I'm like, hey, before we have kids, you should try LSD or mushrooms or something. That'd be awesome. Not gonna do it. Yeah. You're like you should. I'm not gonna do it. Like, well, like, the other day, we were talking about this relationship book, and, like, like, to make our relationship better, I'm like, hey, can you read this for us?

I don't know. Probably not. I don't I don't know. I've been trying to tell my wife to do it this year. I'm like, hey, before we have kids, you should try LSD or mushrooms or something. That'd be awesome. Not gonna do it. Yeah. You're like you should. I'm not gonna do it. Like, well, like, the other day, we were talking about this relationship book, and, like, like, to make our relationship better, I'm like, hey, can you read this for us?

49:33

I think you just identified the problem. Yeah. That's how I feel about mushrooms hey, can you do this for us? So it was, like, it was, like, change change people's lives and make them feel better and happier. Can you do it for both of us?

I think you just identified the problem. Yeah. That's how I feel about mushrooms hey, can you do this for us? So it was, like, it was, like, change change people's lives and make them feel better and happier. Can you do it for both of us?

49:46

Yeah. This is I I I would say I'm mildly interested in this as well. I I need to learn more. I don't know. I his answer of, is this illegal to sell? Is still a little No. He's saying it's legal. He's he's basically saying all we sell is hardware and then we sell raw ingredients and in forty nine of the fifty whatever states. Yeah. But he he used the phrase.

Yeah. This is I I I would say I'm mildly interested in this as well. I I need to learn more. I don't know. I his answer of, is this illegal to sell? Is still a little No. He's saying it's legal. He's he's basically saying all we sell is hardware and then we sell raw ingredients and in forty nine of the fifty whatever states. Yeah. But he he used the phrase.

50:03

He used the face

He used the face

50:04

if you catch my drift. Yeah. You never you never wanna use if you catch my drift and it's a legal loophole,

if you catch my drift. Yeah. You never you never wanna use if you catch my drift and it's a legal loophole,

50:10

during your pitch. Because that just sort of says,

during your pitch. Because that just sort of says,

50:14

you know, you're one inch away from this business collapsing. Yeah.

you know, you're one inch away from this business collapsing. Yeah.

50:18

If it gets my drift. Yeah. That's, like, that that's that that's really interesting to be. More than two winks in your pitch about.

If it gets my drift. Yeah. That's, like, that that's that that's really interesting to be. More than two winks in your pitch about.

50:27

Like, you know what I mean? Yeah.

Like, you know what I mean? Yeah.

50:30

Yeah. It's So I I I need to, I need to feel,

Yeah. It's So I I I need to, I need to feel,

50:34

I need to learn a little bit more. I'm out, but not for that reason. I just hardware is hard. So if I have the choice between investing in a hardware company, a software company, I'm sort of just leaning towards software unless there's a real outlier. And then on top of that,

I need to learn a little bit more. I'm out, but not for that reason. I just hardware is hard. So if I have the choice between investing in a hardware company, a software company, I'm sort of just leaning towards software unless there's a real outlier. And then on top of that,

50:47

I don't really know this market. I don't know how real the shrooms trend is. If it's just like a

I don't really know this market. I don't know how real the shrooms trend is. If it's just like a

50:51

LA SF, New York type of trend, for this type of thing. I don't know how big of away. I I I think it's bigger. I I think it's I I I read a couple books about it. Enough. So that's The people that are gonna buy a four a four million a four hundred dollar

LA SF, New York type of trend, for this type of thing. I don't know how big of away. I I I think it's bigger. I I think it's I I I read a couple books about it. Enough. So that's The people that are gonna buy a four a four million a four hundred dollar

51:05

like, you know,

like, you know,

51:07

nest looking, you know, clean device versus just, like, you know, pay Diego across the street for, like, you know, twenty dollars for some shrooms. Like, I I, of course, more people take insurance, but how many people are gonna do this, like Yeah. It's a good I work Just like sexy home brewers situation.

nest looking, you know, clean device versus just, like, you know, pay Diego across the street for, like, you know, twenty dollars for some shrooms. Like, I I, of course, more people take insurance, but how many people are gonna do this, like Yeah. It's a good I work Just like sexy home brewers situation.

51:20

Do you ever go do do I grew weed in high school in a closet Did you ever do that?

Do you ever go do do I grew weed in high school in a closet Did you ever do that?

51:25

I can't say I did. Well, we used to, like, go to Home Depot and have to, like, buy the bulbs and stuff and, like, put a lock in the closet so your mom doesn't come into it. These things, like, the

I can't say I did. Well, we used to, like, go to Home Depot and have to, like, buy the bulbs and stuff and, like, put a lock in the closet so your mom doesn't come into it. These things, like, the

51:35

this plus Amazon, it's, like, the it's, like, the easiest thing ever, like, to to to grow drugs.

this plus Amazon, it's, like, the it's, like, the easiest thing ever, like, to to to grow drugs.

51:41

I love it.

I love it.

51:43

Alright. We'll go to the next pitch. So I think in that case, I was out you were a maybe. Is that right? I'm a maybe.

Alright. We'll go to the next pitch. So I think in that case, I was out you were a maybe. Is that right? I'm a maybe.

51:50

Okay. Cool. Let's do the next one. Morgan from deal builder.

Okay. Cool. Let's do the next one. Morgan from deal builder.

51:53

Hey, guys.

Hey, guys.

51:55

What's going? Alright. So, yeah, my name is Morgan. I'm the cofounder of deal builder. So Sean and Sam have you guys heard of the Baby Boomer tsunami? It's a bit of a ridiculous name, but it's the ten trillion dollars of baby boomer owned businesses that are gonna need to sell by twenty thirty. The unfortunate reality is that a majority of them will fail to sell. And the reason why is because the current marketplace is confusing.

What's going? Alright. So, yeah, my name is Morgan. I'm the cofounder of deal builder. So Sean and Sam have you guys heard of the Baby Boomer tsunami? It's a bit of a ridiculous name, but it's the ten trillion dollars of baby boomer owned businesses that are gonna need to sell by twenty thirty. The unfortunate reality is that a majority of them will fail to sell. And the reason why is because the current marketplace is confusing.

52:20

It's super expensive

It's super expensive

52:21

and it's really inefficient.

and it's really inefficient.

52:23

How do we know this? Well, over the past decade, my co founders and I have sold over two hundred and fifty businesses

How do we know this? Well, over the past decade, my co founders and I have sold over two hundred and fifty businesses

52:29

and have really mastered

and have really mastered

52:30

how to sell small businesses.

how to sell small businesses.

52:33

And

And

52:34

what we found is that we've developed a proven system for successfully selling businesses, and we found the solution was to build a tech platform so we could rapidly scale and make the process more efficient and transparent,

what we found is that we've developed a proven system for successfully selling businesses, and we found the solution was to build a tech platform so we could rapidly scale and make the process more efficient and transparent,

52:46

and that's what we built, deal builder, an online marketplace to buy and sell businesses.

and that's what we built, deal builder, an online marketplace to buy and sell businesses.

52:51

So what

So what

52:52

unlike,

unlike,

52:53

typical listing sites, deal builder makes

typical listing sites, deal builder makes

52:55

the process guided through end to end which makes deals close faster and for a fraction of the cost, we make money by taking up to a three percent

the process guided through end to end which makes deals close faster and for a fraction of the cost, we make money by taking up to a three percent

53:04

platform fee of the transaction.

platform fee of the transaction.

53:08

So our early traction so far, we've closed four and a half million dollars worth of GMV on the platform.

So our early traction so far, we've closed four and a half million dollars worth of GMV on the platform.

53:14

We have another eight and a half million under offer. And we launched the platform at the tail end of twenty twenty one.

We have another eight and a half million under offer. And we launched the platform at the tail end of twenty twenty one.

53:22

And currently, that's been a year to date revenue of about eighty thousand. We have another sixty five million that's listed on the platform right now. And we're projected to hit a billion

And currently, that's been a year to date revenue of about eighty thousand. We have another sixty five million that's listed on the platform right now. And we're projected to hit a billion

53:33

of GMV listed on the platform at the end of twenty twenty three.

of GMV listed on the platform at the end of twenty twenty three.

53:38

That represents another,

That represents another,

53:40

at our current sixty five million listed, about six hundred thousand on the platform.

at our current sixty five million listed, about six hundred thousand on the platform.

53:44

And to put in the context that eighty thousand of year to date revenue. We're doing we did twenty four and a half in August, and we anticipate that, a similar amount in September as well. So we're just getting started as those deals are starting to land.

And to put in the context that eighty thousand of year to date revenue. We're doing we did twenty four and a half in August, and we anticipate that, a similar amount in September as well. So we're just getting started as those deals are starting to land.

53:59

Our lead investor is friend of the pod, Andrew Wilkinson from tiny.

Our lead investor is friend of the pod, Andrew Wilkinson from tiny.

54:03

We've secured four hundred fifty thousand of of Canadian dollars in funding, and we're looking to raise another two hundred fifty thousand to scale this and take on this chilling dollar

We've secured four hundred fifty thousand of of Canadian dollars in funding, and we're looking to raise another two hundred fifty thousand to scale this and take on this chilling dollar

54:13

problem. And we wanted to have that showing their grind set mindset from you guys on the cap table as well.

problem. And we wanted to have that showing their grind set mindset from you guys on the cap table as well.

54:19

What's the conversion of four hundred and fifty thousand Canadian dollars to real money.

What's the conversion of four hundred and fifty thousand Canadian dollars to real money.

54:23

Oh, it's like you guys are paying, like, twenty twenty to thirty bucks, I think. Yeah. Yeah. Yeah. I was just I couldn't figure it out, like, what monopoly money to USD

Oh, it's like you guys are paying, like, twenty twenty to thirty bucks, I think. Yeah. Yeah. Yeah. I was just I couldn't figure it out, like, what monopoly money to USD

54:32

Yeah. No. I think that in in actuality, I think that's probably, like, a hundred and fifty, I think, or maybe a little bit more, US. Something like that? Really? Okay. Dude, this is awesome. Your site is great. I think your branding is really is really slick and cool. It's not, you know, micro acquire, I think Maybe it's because Andrew is just being controversial on Twitter. I don't think that he's,

Yeah. No. I think that in in actuality, I think that's probably, like, a hundred and fifty, I think, or maybe a little bit more, US. Something like that? Really? Okay. Dude, this is awesome. Your site is great. I think your branding is really is really slick and cool. It's not, you know, micro acquire, I think Maybe it's because Andrew is just being controversial on Twitter. I don't think that he's,

54:55

appealing to maybe all the right people. I I think that what you're doing is incredibly intriguing. It's this is very interesting. Why haven't you raised from from more people? This seems like a pretty big opportunity, and you only listed Andrew. Is great, but that's just one person. Yeah. So we started out bootstraps. Like, we actually just built this for ourselves

appealing to maybe all the right people. I I think that what you're doing is incredibly intriguing. It's this is very interesting. Why haven't you raised from from more people? This seems like a pretty big opportunity, and you only listed Andrew. Is great, but that's just one person. Yeah. So we started out bootstraps. Like, we actually just built this for ourselves

55:13

for the first little while, and then we kinda just saw we pivoted the business model. At first, it was just like, alright, small businesses that weren't a good fit for our brokerage. You go and use this and and pay, like, a nominal fee. And then we're, like, Wait. This works with bigger deals. And why not just expand this? And that's when we decided to raise.

for the first little while, and then we kinda just saw we pivoted the business model. At first, it was just like, alright, small businesses that weren't a good fit for our brokerage. You go and use this and and pay, like, a nominal fee. And then we're, like, Wait. This works with bigger deals. And why not just expand this? And that's when we decided to raise.

55:30

So that's we're kind of seeing that blue ocean right now and kinda going after it. Have you talked to all of our nerdy friends? Like, well, you're talking to me and Sean. Have you talked to Cody? Have you talked to Nick Huber? Have you talked to all of our buddies who are all, like, these influencers around this stuff?

So that's we're kind of seeing that blue ocean right now and kinda going after it. Have you talked to all of our nerdy friends? Like, well, you're talking to me and Sean. Have you talked to Cody? Have you talked to Nick Huber? Have you talked to all of our buddies who are all, like, these influencers around this stuff?

55:46

Not Nick Huber. I've exchanged the ends of Cody, but haven't finalized something. But I also talked to Xavier,

Not Nick Huber. I've exchanged the ends of Cody, but haven't finalized something. But I also talked to Xavier,

55:52

recently as well, who's really in the space. And everybody's like, yeah. This is absolutely

recently as well, who's really in the space. And everybody's like, yeah. This is absolutely

55:56

needed because Well, like, amongst our little, like, circle jerk group of friends, you talk about buying boring I think you have you'd have a nice little influencer,

needed because Well, like, amongst our little, like, circle jerk group of friends, you talk about buying boring I think you have you'd have a nice little influencer,

56:05

at least not, like, not a game changing, but maybe a little game changing. But, anyway,

at least not, like, not a game changing, but maybe a little game changing. But, anyway,

56:09

I would probably invest a little bit. I would like to learn more and do some due diligence, but this is really, really cool.

I would probably invest a little bit. I would like to learn more and do some due diligence, but this is really, really cool.

56:15

Now when,

Now when,

56:17

how many how big is buy this cell?

how many how big is buy this cell?

56:19

Yeah. So, biz buy sell or whatever way you wanna do it is so it's owned by CoStar and CoStar owns LoopNet. And they're a public company. I think they did two point one billion of of revenue, but they're just listing. They don't take any transactional

Yeah. So, biz buy sell or whatever way you wanna do it is so it's owned by CoStar and CoStar owns LoopNet. And they're a public company. I think they did two point one billion of of revenue, but they're just listing. They don't take any transactional

56:34

fees. So our difference with Biz buy sell is that they I think businesses for sales and other competitor, they do a hundred and they had a hundred and sixty thousand listings in twenty nineteen, but they don't they'd probably do, you know, five million revenue because they don't take any piece of the transaction.

fees. So our difference with Biz buy sell is that they I think businesses for sales and other competitor, they do a hundred and they had a hundred and sixty thousand listings in twenty nineteen, but they don't they'd probably do, you know, five million revenue because they don't take any piece of the transaction.

56:51

So the the their value capture is so low to what they could be delivering on, but they're just a listing site. So they only just send buyer leads. They don't actually help guide through the acquisition.

So the the their value capture is so low to what they could be delivering on, but they're just a listing site. So they only just send buyer leads. They don't actually help guide through the acquisition.

57:02

Sean, why'd you ask about that versus,

Sean, why'd you ask about that versus,

57:04

like FE International

like FE International

57:06

Because, it seems like that's the closest comp, right, biz myself for the types of business you're selling. Like, I when I go to your site, I see, like, chocolate shop, IT services company. So, like, micro wires trying to do SAS. Yeah. We don't touch it specifically.

Because, it seems like that's the closest comp, right, biz myself for the types of business you're selling. Like, I when I go to your site, I see, like, chocolate shop, IT services company. So, like, micro wires trying to do SAS. Yeah. We don't touch it specifically.

57:19

And,

And,

57:20

FE International is doing, you know, larger deals that are using, basically, like, a kind of, like, private banker,

FE International is doing, you know, larger deals that are using, basically, like, a kind of, like, private banker,

57:26

whereas it looks like this is kind of like how the SMBs are gonna trade hands is is what you're trying to do. Is that is that accurate? Yeah. Neffi international could be a client of ours. So we have a brokerage like a white label side. So our brokerage now runs all of our deals through deal builder and pays a small percentage up every completed deal, and we do their whole back office for them. So they don't have so with brokers, your cash flows like this, because it's in between each commission, So now they're only paying when deals actually come through. So brokers have just kind of, like, flooded to it and asked to be on the platform, which is really cool. I think more than anything I'm invest I'm I'm interested in the I mean, I think your brand is cool. You seem nice and great and competent. I think that I'm interested in the macro trend Yeah. You're handsome. Are they a baby doll bluncher?

whereas it looks like this is kind of like how the SMBs are gonna trade hands is is what you're trying to do. Is that is that accurate? Yeah. Neffi international could be a client of ours. So we have a brokerage like a white label side. So our brokerage now runs all of our deals through deal builder and pays a small percentage up every completed deal, and we do their whole back office for them. So they don't have so with brokers, your cash flows like this, because it's in between each commission, So now they're only paying when deals actually come through. So brokers have just kind of, like, flooded to it and asked to be on the platform, which is really cool. I think more than anything I'm invest I'm I'm interested in the I mean, I think your brand is cool. You seem nice and great and competent. I think that I'm interested in the macro trend Yeah. You're handsome. Are they a baby doll bluncher?

58:10

Yeah, like, a little Avadrogo. I think that,

Yeah, like, a little Avadrogo. I think that,

58:13

I think that,

I think that,

58:15

this macro trend is really cool. And and I would like to take a part of that. So how do you get the crank going? So how are you gonna get a bunch of buyers and sellers onto this platform? Like, what what is take. I'm sure it's a bunch of brute force at the beginning, but on what you're doing to make that happen. Yeah. So,

this macro trend is really cool. And and I would like to take a part of that. So how do you get the crank going? So how are you gonna get a bunch of buyers and sellers onto this platform? Like, what what is take. I'm sure it's a bunch of brute force at the beginning, but on what you're doing to make that happen. Yeah. So,

58:31

the sell side's harder than the buy side. Buyers are everywhere Like, everyone thinks buyers are the problem, but it's super easy to find them. And it's free to sign up. So really low friction.

the sell side's harder than the buy side. Buyers are everywhere Like, everyone thinks buyers are the problem, but it's super easy to find them. And it's free to sign up. So really low friction.

58:40

Feel free to sign up. Punchers.

Feel free to sign up. Punchers.

58:42

And so on the seller side, we've really grown by referrals. So accountants, other brokers. So brokers refer deals to the platform as well. And then just awareness. Like, people don't know that these solutions exist. So it's actually really nice from a marketing perspective. You just say, hey, you can sell your business on our platform. They're great. I had no idea. I thought my business wasn't worth anything. So it's really just getting awareness and getting into the right centers of influence. And I think like you're talking about with some of those influencers, I think, can make a really big difference. And your revenue this year is gonna be a couple hundred thousand. Is that right? Yeah. It'll likely it's it's a little bit hard to predict when when the timing of deals will close, but in our pipeline of six hundred thousand right now, I know a couple hundred thousand of that will close for sure, and just in the quality of the businesses.

And so on the seller side, we've really grown by referrals. So accountants, other brokers. So brokers refer deals to the platform as well. And then just awareness. Like, people don't know that these solutions exist. So it's actually really nice from a marketing perspective. You just say, hey, you can sell your business on our platform. They're great. I had no idea. I thought my business wasn't worth anything. So it's really just getting awareness and getting into the right centers of influence. And I think like you're talking about with some of those influencers, I think, can make a really big difference. And your revenue this year is gonna be a couple hundred thousand. Is that right? Yeah. It'll likely it's it's a little bit hard to predict when when the timing of deals will close, but in our pipeline of six hundred thousand right now, I know a couple hundred thousand of that will close for sure, and just in the quality of the businesses.

59:25

And we've already done eighty

And we've already done eighty

59:27

eighty two, yeah, eighty thousand this year. Alright. I'll be paid the bills on your team. It looks like on your website, it looks like you got a bunch of people listed.

eighty two, yeah, eighty thousand this year. Alright. I'll be paid the bills on your team. It looks like on your website, it looks like you got a bunch of people listed.

59:35

Yeah. Well, the three co founders, I'm the act of operating co founder, the other two co founders,

Yeah. Well, the three co founders, I'm the act of operating co founder, the other two co founders,

59:41

are really kind of advisor and and, investor roles. So they were, and help out with some of the, with the actual,

are really kind of advisor and and, investor roles. So they were, and help out with some of the, with the actual,

59:48

kind of like breaking down the brokerage process. And then so there's two developers

kind of like breaking down the brokerage process. And then so there's two developers

59:53

myself and a marketing person. One of them is on on Matt Leave right now. But, yeah,

myself and a marketing person. One of them is on on Matt Leave right now. But, yeah,

59:58

it's, like, is there just, like, four of us right now that are on payroll?

it's, like, is there just, like, four of us right now that are on payroll?

01:00:02

Sick. Well, thank you. This is awesome. I'm, I'd like to learn more.

Sick. Well, thank you. This is awesome. I'm, I'd like to learn more.

01:00:05

Yeah. Same. Alright. Thanks, Morgan. Good job.

Yeah. Same. Alright. Thanks, Morgan. Good job.

01:00:08

Sean, the thing he said at the end,

Sean, the thing he said at the end,

01:00:11

little little funky, little funky. About what? The team, not being the team? Yeah. The team not being the team. That's it. That that

little little funky, little funky. About what? The team, not being the team? Yeah. The team not being the team. That's it. That that

01:00:19

freaks me out a little bit because in a couple years when things start working out well, If I'm that kid, I'm gonna say, well, what the hell man? You're not even working here. Why do you deserve this equity? And,

freaks me out a little bit because in a couple years when things start working out well, If I'm that kid, I'm gonna say, well, what the hell man? You're not even working here. Why do you deserve this equity? And,

01:00:28

you know, like, there's gonna be some anger and We don't know that they have equity. We don't know how much. They're listed as a co founder. Yeah. But that might just be, like, it seems like so if you go to their website, there's this, like, stock photos of, like, you know, happy people holding, you know, coffees and, like, clipboards.

you know, like, there's gonna be some anger and We don't know that they have equity. We don't know how much. They're listed as a co founder. Yeah. But that might just be, like, it seems like so if you go to their website, there's this, like, stock photos of, like, you know, happy people holding, you know, coffees and, like, clipboards.

01:00:43

And, like,

And, like,

01:00:45

you know, it seems like maybe he just buffed up the team to be like, look, our team has tons of experience

you know, it seems like maybe he just buffed up the team to be like, look, our team has tons of experience

01:00:49

you know Yeah. It's no big deal.

you know Yeah. It's no big deal.

01:00:51

So if it's a

So if it's a

01:00:53

website marketing thing, okay, that's fine. But if it's

website marketing thing, okay, that's fine. But if it's

01:00:57

actually on the cap table or it's in the deck. And then you're in the deck. Because here's our awesome team with tons of experience. Oh, I'm the only one who actively works on this. That's when I'm like, okay. Hold on. How many other things in this deck do I need to question? So I think that's a little bit of a a, you know Yeah. That's all I'm saying. I don't think it's a red flag. I'm just saying I would wanna dig in just a little bit more on that.

actually on the cap table or it's in the deck. And then you're in the deck. Because here's our awesome team with tons of experience. Oh, I'm the only one who actively works on this. That's when I'm like, okay. Hold on. How many other things in this deck do I need to question? So I think that's a little bit of a a, you know Yeah. That's all I'm saying. I don't think it's a red flag. I'm just saying I would wanna dig in just a little bit more on that.

01:01:16

Right. But that guy just raised two hundred and fifty thousand dollars, it said. It said he was raised in two hundred and fifty, and he got two fifty of interest. So good for him. I'm We have

Right. But that guy just raised two hundred and fifty thousand dollars, it said. It said he was raised in two hundred and fifty, and he got two fifty of interest. So good for him. I'm We have

01:01:24

a million dollars of total interest for this session. So,

a million dollars of total interest for this session. So,

01:01:29

when you talk about moving moving weight, when you talk about bring in size when you talk about

when you talk about moving moving weight, when you talk about bring in size when you talk about

01:01:35

really

really

01:01:37

hitting the hand

hitting the hand

01:01:38

When you talk about those things, when you talk about those things, you're talking about those things. You're talking about us. Alright. Let's go to the last pitch.

When you talk about those things, when you talk about those things, you're talking about those things. You're talking about us. Alright. Let's go to the last pitch.

01:01:45

It is Tim from Field Complete. Alright, Tim.

It is Tim from Field Complete. Alright, Tim.

01:01:49

Hey, guys.

Hey, guys.

01:01:51

Feel complete is a free app for your local plumber or electrician to run their business.

Feel complete is a free app for your local plumber or electrician to run their business.

01:01:57

They live in our app and we become their bank over time. We found a very unique wedge into this market.

They live in our app and we become their bank over time. We found a very unique wedge into this market.

01:02:04

As you know, rentership in the US is on the rise. Over thirty five percent of all homes are rented and it's growing. It all started back in o eight when, all the foreclosed homes are are most of them were bought out by Wall Street are rented. Pare that with, like, the short term rental, Airbnb craze, and millennials not being able to or wanting to own tech. Now even, like, VCs

As you know, rentership in the US is on the rise. Over thirty five percent of all homes are rented and it's growing. It all started back in o eight when, all the foreclosed homes are are most of them were bought out by Wall Street are rented. Pare that with, like, the short term rental, Airbnb craze, and millennials not being able to or wanting to own tech. Now even, like, VCs

01:02:23

are buying real estate portfolios right through Adam Newman, so all these homes need to be professionally maintained by property managers and property managers use contractors and subcontractors,

are buying real estate portfolios right through Adam Newman, so all these homes need to be professionally maintained by property managers and property managers use contractors and subcontractors,

01:02:32

to maintain them. And so the problem is that traditionally contractors would either focus on the residential sector with homeowners or the commercial jobs. And with property managers entering the single family,

to maintain them. And so the problem is that traditionally contractors would either focus on the residential sector with homeowners or the commercial jobs. And with property managers entering the single family,

01:02:43

rental scene,

rental scene,

01:02:44

as a contractor, you're basically either forced to bootstrap your operation or seven different apps around your business or your resort to pen and paper. Which is basically eighty percent of contractors today.

as a contractor, you're basically either forced to bootstrap your operation or seven different apps around your business or your resort to pen and paper. Which is basically eighty percent of contractors today.

01:02:54

And actually, my co founder experienced this problem firsthand when he transitioned his construction company, he tried the seven seven different app route ended up building his own. And only after the subs and the property manager started asking, like, hey, what software are you using? We realize how huge this problem is. So in a nutshell, feel complete as a free software for your local home service contractor to own their business. And over time, we essentially become their point of sale, their bank, their credit card. Think of it like a Shopify

And actually, my co founder experienced this problem firsthand when he transitioned his construction company, he tried the seven seven different app route ended up building his own. And only after the subs and the property manager started asking, like, hey, what software are you using? We realize how huge this problem is. So in a nutshell, feel complete as a free software for your local home service contractor to own their business. And over time, we essentially become their point of sale, their bank, their credit card. Think of it like a Shopify

01:03:18

for the home service contractor.

for the home service contractor.

01:03:20

As far as traction goes, we raise a small preseason to rebuild the app. We launched the beginning of this year, have over two hundred contractors on the platform,

As far as traction goes, we raise a small preseason to rebuild the app. We launched the beginning of this year, have over two hundred contractors on the platform,

01:03:28

serviced over nineteen thousand homes, over five million in GMV

serviced over nineteen thousand homes, over five million in GMV

01:03:31

this year on track to do ten million. We're only currently monetizing,

this year on track to do ten million. We're only currently monetizing,

01:03:35

the actual revenue on the merchant services. So anytime a credit card is swiped.

the actual revenue on the merchant services. So anytime a credit card is swiped.

01:03:39

On there, we're on track to do a little over a hundred k this year. We're raising a two point five million seed to integrate banking into the solution at job sharing, which basically,

On there, we're on track to do a little over a hundred k this year. We're raising a two point five million seed to integrate banking into the solution at job sharing, which basically,

01:03:49

gives us more users pilot with a property manager integration,

gives us more users pilot with a property manager integration,

01:03:53

and hire some support reps.

and hire some support reps.

01:03:55

And, this no we know this model works well because ever since we've removed the soft fees. We've been getting about three to four companies signing up organically every day.

And, this no we know this model works well because ever since we've removed the soft fees. We've been getting about three to four companies signing up organically every day.

01:04:05

So I'll open it up for questions.

So I'll open it up for questions.

01:04:08

Tim, you and I have interacted a bunch online, haven't we?

Tim, you and I have interacted a bunch online, haven't we?

01:04:12

Yes. We did. I know your, I know your face.

Yes. We did. I know your, I know your face.

01:04:16

But we've never hung out. Have we?

But we've never hung out. Have we?

01:04:18

Not yet.

Not yet.

01:04:20

Oh, what's what's going on? Nice to meet you. This is a cool congratulations. When was the the first raise that you did?

Oh, what's what's going on? Nice to meet you. This is a cool congratulations. When was the the first raise that you did?

01:04:27

Yeah. So the first raise, was,

Yeah. So the first raise, was,

01:04:29

a year and a half ago, almost two years.

a year and a half ago, almost two years.

01:04:33

Which is Tim. What what why no deck?

Which is Tim. What what why no deck?

01:04:36

We went with the no deck that that's attached to the the the thing distraction.

We went with the no deck that that's attached to the the the thing distraction.

01:04:42

Okay.

Okay.

01:04:45

Alright. Sounds good. Are you running out of money now?

Alright. Sounds good. Are you running out of money now?

01:04:49

No. We we have enough. We we have more than like seven months of runway. And this round is coming together. So we have a lead for this round. It's we're basically most likely gonna close it in the next month or two here.

No. We we have enough. We we have more than like seven months of runway. And this round is coming together. So we have a lead for this round. It's we're basically most likely gonna close it in the next month or two here.

01:05:00

So we have a lead, all the investors from pre seat, basically exercise their parada into the round. And we have some new investors that coming in as well. And how much is how how many people will work there and what you're spending each month roughly?

So we have a lead, all the investors from pre seat, basically exercise their parada into the round. And we have some new investors that coming in as well. And how much is how how many people will work there and what you're spending each month roughly?

01:05:12

Yeah. So, total seam size is eighteen right now.

Yeah. So, total seam size is eighteen right now.

01:05:16

We

We

01:05:17

burn about sixty to seventy k a month today. In Netburn.

burn about sixty to seventy k a month today. In Netburn.

01:05:22

Yeah.

Yeah.

01:05:23

And you're raising how much?

And you're raising how much?

01:05:26

We're doing we're we're raising two point five.

We're doing we're we're raising two point five.

01:05:30

We can potentially oversubscribe it, but we think that's enough money for us to get to, like, the next stage.

We can potentially oversubscribe it, but we think that's enough money for us to get to, like, the next stage.

01:05:37

And last question on that. What's the next stage?

And last question on that. What's the next stage?

01:05:40

Yeah. So next stage is, basically, this money will get us to either default alive or raise a bigger growth round.

Yeah. So next stage is, basically, this money will get us to either default alive or raise a bigger growth round.

01:05:47

Like, the we're on track. So right now,

Like, the we're on track. So right now,

01:05:50

the the the companies are signing up organically through subcontracting. And so the user base is growing, on its own. We literally only have two support reps on the team right now.

the the the companies are signing up organically through subcontracting. And so the user base is growing, on its own. We literally only have two support reps on the team right now.

01:05:59

And that's,

And that's,

01:06:00

like, customer acquisition in this space is tough because it's SMB and it's fragmented. Right?

like, customer acquisition in this space is tough because it's SMB and it's fragmented. Right?

01:06:07

And so, we found this wedge where through property managers, they they work with multi trade contractors and they sub jobs to each other on our platform And that and we get more and more users this way signing up,

And so, we found this wedge where through property managers, they they work with multi trade contractors and they sub jobs to each other on our platform And that and we get more and more users this way signing up,

01:06:18

on their own. And so, therefore,

on their own. And so, therefore,

01:06:21

our CAC is not as high. Like, we don't spend money on CAC based all the users that we currently have on the platform

our CAC is not as high. Like, we don't spend money on CAC based all the users that we currently have on the platform

01:06:26

are organic.

are organic.

01:06:28

So say that again. So how many users do you currently have on the platform and,

So say that again. So how many users do you currently have on the platform and,

01:06:33

over what period of time were they acquired?

over what period of time were they acquired?

01:06:35

Yeah. So for this year, we've had about five hundred contractors sign up.

Yeah. So for this year, we've had about five hundred contractors sign up.

01:06:40

All of those,

All of those,

01:06:42

basically,

basically,

01:06:43

two hundred are,

two hundred are,

01:06:45

active.

active.

01:06:46

And then this, like, some contractors are daily active, weekly active monthly. We're tracking all of that. The daily active are the ones that live inside our software.

And then this, like, some contractors are daily active, weekly active monthly. We're tracking all of that. The daily active are the ones that live inside our software.

01:06:55

The weekly and monthly are the ones that would basically use the app,

The weekly and monthly are the ones that would basically use the app,

01:06:59

like, to receive work and perform more from the contractor. So they're just using it to basically receive a job and do it. With the new feature that I was talking about, the job sharing that we're gonna release, they're gonna get a full field complete account as well, and they'll be able to use it for third party work. And right now, you're keeping one percent

like, to receive work and perform more from the contractor. So they're just using it to basically receive a job and do it. With the new feature that I was talking about, the job sharing that we're gonna release, they're gonna get a full field complete account as well, and they'll be able to use it for third party work. And right now, you're keeping one percent

01:07:15

of the money that goes through you guys.

of the money that goes through you guys.

01:07:18

Yeah. So merchant services were out like, when we were raising our PC, we were thinking it's gonna be up to one percent. We're doing, like, in the deck, it says one point zero seven. The actual is one point two six.

Yeah. So merchant services were out like, when we were raising our PC, we were thinking it's gonna be up to one percent. We're doing, like, in the deck, it says one point zero seven. The actual is one point two six.

01:07:29

Right now. But with a goal of ten percent.

Right now. But with a goal of ten percent.

01:07:31

Yeah. So,

Yeah. So,

01:07:33

yes. The answer is yes. And the way we get there is

yes. The answer is yes. And the way we get there is

01:07:37

We're gonna release the, in, like, q one, the banking solution. That's gonna average out to about two percent. There's other fintech offerings we can layer on top. Basically, like, settling invoices earlier kind of the way the deal does it, and and other fintech offerings there. And then from there, we want to pilot with a property manager, integrate with them. And give them our con book of contractors to dispatch work to, and they will give their book of contractors back to us. Right? And and so Let me ask you a question.

We're gonna release the, in, like, q one, the banking solution. That's gonna average out to about two percent. There's other fintech offerings we can layer on top. Basically, like, settling invoices earlier kind of the way the deal does it, and and other fintech offerings there. And then from there, we want to pilot with a property manager, integrate with them. And give them our con book of contractors to dispatch work to, and they will give their book of contractors back to us. Right? And and so Let me ask you a question.

01:08:05

When you internally forget about the pitch, when you look at the health of your business,

When you internally forget about the pitch, when you look at the health of your business,

01:08:09

what is the number one KPI? So what is the the main KPI for you?

what is the number one KPI? So what is the the main KPI for you?

01:08:14

Yeah. So we're we're we're measuring GMV across the board because that's what we can monetize. We can add, layers of monetization in terms of, like, marketplace fees, So the GM GMVs are number one metric, and GMV matters because that's what flows through your app directly? Yes.

Yeah. So we're we're we're measuring GMV across the board because that's what we can monetize. We can add, layers of monetization in terms of, like, marketplace fees, So the GM GMVs are number one metric, and GMV matters because that's what flows through your app directly? Yes.

01:08:31

So so you're saying GMV matters because I take one percent of GMV?

So so you're saying GMV matters because I take one percent of GMV?

01:08:35

Yes. For today, yes, one point two six percent.

Yes. For today, yes, one point two six percent.

01:08:38

Then and we without increasing the user base, we can layer more offerings on top of that and increase the revenue as it scales.

Then and we without increasing the user base, we can layer more offerings on top of that and increase the revenue as it scales.

01:08:47

What is the math come out there? So you've basically, in the last year, you've done, like, seventy k of revenue, something like that. Five five point seven million of GMV, and then you multiply that by one point two six. Is that right? Yeah. So, for for this year, right?

What is the math come out there? So you've basically, in the last year, you've done, like, seventy k of revenue, something like that. Five five point seven million of GMV, and then you multiply that by one point two six. Is that right? Yeah. So, for for this year, right?

01:09:01

This past year, we did we had about five point seven GMV to date.

This past year, we did we had about five point seven GMV to date.

01:09:05

We're at, about forty two thousand in revenue already.

We're at, about forty two thousand in revenue already.

01:09:09

We will be at the end of the year, basically,

We will be at the end of the year, basically,

01:09:12

at a hundred

at a hundred

01:09:14

over a hundred k. So I personally I like the concept of what you're doing, which is basically the, you know, the, sort of, workflow slash

over a hundred k. So I personally I like the concept of what you're doing, which is basically the, you know, the, sort of, workflow slash

01:09:21

you know, how to run your business if you're,

you know, how to run your business if you're,

01:09:24

a blue collar contractor here.

a blue collar contractor here.

01:09:26

I really like that concept.

I really like that concept.

01:09:28

But what I don't like about this pitch is I'm just confused as to, like, how big your business is. I feel like you threw a bunch of numbers. You're like, oh, we service nineteen thousand homes. Five point seven million in GV. These sound really big, but what's the reality? The reality is you have two hundred active users, and you made forty thousand dollars in revenue this year. Right? That that's the reality of the situation. And I feel like that was so buried in this that I'm, like, for me, personally, there's too much work to get to understanding of your business, which tells me that the under that the business if the business itself was super compelling, you would have just led with the more clear, easy to understand metrics that are, like, Not, like, we serve nineteen thousand homes, which is a total of forty three thousand people, because four people live in the home. It's like, oh, dude, like, I don't know. Well, I don't know what these numbers are, but they're irrelevant to

But what I don't like about this pitch is I'm just confused as to, like, how big your business is. I feel like you threw a bunch of numbers. You're like, oh, we service nineteen thousand homes. Five point seven million in GV. These sound really big, but what's the reality? The reality is you have two hundred active users, and you made forty thousand dollars in revenue this year. Right? That that's the reality of the situation. And I feel like that was so buried in this that I'm, like, for me, personally, there's too much work to get to understanding of your business, which tells me that the under that the business if the business itself was super compelling, you would have just led with the more clear, easy to understand metrics that are, like, Not, like, we serve nineteen thousand homes, which is a total of forty three thousand people, because four people live in the home. It's like, oh, dude, like, I don't know. Well, I don't know what these numbers are, but they're irrelevant to

01:10:13

what your actual business is. Is is your growth keeping you up at night right now? What what's keeping you up at keeping you up at night? Where you think, like, fuck. Things are going well. Which everyone at Allstate does this thing. So it's I mean, I'm not saying it for you, but just like, you're I'm not saying you have this only. Everyone has this. So what what are you saying that about?

what your actual business is. Is is your growth keeping you up at night right now? What what's keeping you up at keeping you up at night? Where you think, like, fuck. Things are going well. Which everyone at Allstate does this thing. So it's I mean, I'm not saying it for you, but just like, you're I'm not saying you have this only. Everyone has this. So what what are you saying that about?

01:10:31

Yeah. So so growth has actually been very good because we're getting organic users. We're not paying anything for these users. The the pie is growing on its own. How how can you say that? You have two hundred active users. Could you say growth is very good? Like, I don't I don't Yeah. So the the reason why it's good is because we spend basically no money acquiring them. Right? So we're getting two dollar companies as I was saying, I have, you know, I have I have so many friends. I have three friends, but I don't go out. So it's no problem. You know, it's like, well My muscles are really good for not working out. Yeah. Exactly. I could do two reps. I never work out. It's like, well, the point was to have really strong muscles. The point for you is have a lot of customers you maybe you should be spending to get more customers. Right?

Yeah. So so growth has actually been very good because we're getting organic users. We're not paying anything for these users. The the pie is growing on its own. How how can you say that? You have two hundred active users. Could you say growth is very good? Like, I don't I don't Yeah. So the the reason why it's good is because we spend basically no money acquiring them. Right? So we're getting two dollar companies as I was saying, I have, you know, I have I have so many friends. I have three friends, but I don't go out. So it's no problem. You know, it's like, well My muscles are really good for not working out. Yeah. Exactly. I could do two reps. I never work out. It's like, well, the point was to have really strong muscles. The point for you is have a lot of customers you maybe you should be spending to get more customers. Right?

01:11:09

Yeah. So where where we're at now is, like,

Yeah. So where where we're at now is, like,

01:11:13

we're onboarding customers, like I said, that that are coming in. And then as far in terms of revenue, it trickles in a bit later when it's a fintech solution. Right? Right. So that that's a that might be a concern for an investor, but our investors are aligned with us. We like, if we were to turn on soft keys today, right, would make

we're onboarding customers, like I said, that that are coming in. And then as far in terms of revenue, it trickles in a bit later when it's a fintech solution. Right? Right. So that that's a that might be a concern for an investor, but our investors are aligned with us. We like, if we were to turn on soft keys today, right, would make

01:11:31

like, I, around

like, I, around

01:11:32

four to five hundred thousand dollars, in ARR.

four to five hundred thousand dollars, in ARR.

01:11:35

But we're,

But we're,

01:11:37

purposefully keeping them low. So when they subcontract, there is no barrier to entry, and then we monetize the financial layer.

purposefully keeping them low. So when they subcontract, there is no barrier to entry, and then we monetize the financial layer.

01:11:43

And so because of that, it basically we're prioritizing growth over immediate revenue. Right? At this moment.

And so because of that, it basically we're prioritizing growth over immediate revenue. Right? At this moment.

01:11:50

And so that's our strategy. Again, and our investors are aligned with it. I would argue. So you're basically saying we're charging because we don't wanna have a barrier to entry yet. Any business that doesn't charge is gonna get that benefit. But then you should see awesome growth. Right?

And so that's our strategy. Again, and our investors are aligned with it. I would argue. So you're basically saying we're charging because we don't wanna have a barrier to entry yet. Any business that doesn't charge is gonna get that benefit. But then you should see awesome growth. Right?

01:12:03

And so so that's that's that would be the counterargument. The counterargument would be, okay, you've you've sacrificed four hundred, five hundred thousand in revenue, you're like you're saying. And what have you gotten in return

And so so that's that's that would be the counterargument. The counterargument would be, okay, you've you've sacrificed four hundred, five hundred thousand in revenue, you're like you're saying. And what have you gotten in return

01:12:13

is some of, you know, two hundred active, five hundred total registered users. If you had just just charged

is some of, you know, two hundred active, five hundred total registered users. If you had just just charged

01:12:20

and actually had four hundred thousand in revenue, you could go if you spent that money on advertising, you could probably have, you know, ten times more users. So

and actually had four hundred thousand in revenue, you could go if you spent that money on advertising, you could probably have, you know, ten times more users. So

01:12:28

I don't know. I guess for me,

I don't know. I guess for me,

01:12:30

those parts don't add up personally because I,

those parts don't add up personally because I,

01:12:33

and I'm I'm saying this too just because, you know, the show. There's a lot of people listening and so they wanna hear the full thought process, which is,

and I'm I'm saying this too just because, you know, the show. There's a lot of people listening and so they wanna hear the full thought process, which is,

01:12:41

I think in general, you wanna have a capital efficient business. It seems like you might have spent,

I think in general, you wanna have a capital efficient business. It seems like you might have spent,

01:12:46

you've raised one point six million to date. Is that correct?

you've raised one point six million to date. Is that correct?

01:12:50

Yeah. So in this round already,

Yeah. So in this round already,

01:12:52

yeah.

yeah.

01:12:53

Are like, okay. In the life of the company, how much money has been, like, burned total?

Are like, okay. In the life of the company, how much money has been, like, burned total?

01:12:58

Yeah. Total burn is, like, we've burned about one point eight to date. Right. So what I would say is, okay, if if if I knew nothing as much of a business, I would say here's a business that, has burned one point eight million dollars to achieve two hundred customers and fifty thousand of revenue this year. That's the harsh truth about, like, the business. Now that doesn't mean you don't invest. There might be tons of other reasons why that that burned was on infrastructure, building product, building a brand, whatever. There are other reasons, but, like, just sort of objectively speaking, that would be my main issue. And I give you that feedback because

Yeah. Total burn is, like, we've burned about one point eight to date. Right. So what I would say is, okay, if if if I knew nothing as much of a business, I would say here's a business that, has burned one point eight million dollars to achieve two hundred customers and fifty thousand of revenue this year. That's the harsh truth about, like, the business. Now that doesn't mean you don't invest. There might be tons of other reasons why that that burned was on infrastructure, building product, building a brand, whatever. There are other reasons, but, like, just sort of objectively speaking, that would be my main issue. And I give you that feedback because

01:13:31

maybe you can look at your model slightly. If if others share that point of view, maybe they don't, maybe they do. But if others shared that point of view, then you could say, alright.

maybe you can look at your model slightly. If if others share that point of view, maybe they don't, maybe they do. But if others shared that point of view, then you could say, alright.

01:13:40

The feedback from the investor market is that I would I need to either have an impressive user number or an impressive revenue number,

The feedback from the investor market is that I would I need to either have an impressive user number or an impressive revenue number,

01:13:47

you know, and and maybe I should double down on one of those areas and do things slightly different the stocks guys are saying we gotta end this this particular presentation. Tim, we appreciate you a lot,

you know, and and maybe I should double down on one of those areas and do things slightly different the stocks guys are saying we gotta end this this particular presentation. Tim, we appreciate you a lot,

01:13:57

coming on. This is awesome. Thank you. Yes, Sam. Sean, thanks. Thanks. Thanks. Sorry. I was too harsh, buddy. Dude,

coming on. This is awesome. Thank you. Yes, Sam. Sean, thanks. Thanks. Thanks. Sorry. I was too harsh, buddy. Dude,

01:14:04

I hate doing this because I agree with everything you say. I hate I don't wanna rip on someone, but here's the here's the thing.

I hate doing this because I agree with everything you say. I hate I don't wanna rip on someone, but here's the here's the thing.

01:14:11

I think the business

I think the business

01:14:13

could be great. I think maybe there's a chance that he just kinda missed the pitch a little bit.

could be great. I think maybe there's a chance that he just kinda missed the pitch a little bit.

01:14:18

But Yeah. That that could totally be the case. And or or we misunderstood. Right? Because without a deck, you're trying to follow it while you're trying to read the chat, while you're trying to look for the company's metrics, and you go to their website, So it's very easy to miss things during that process. So that might be on us.

But Yeah. That that could totally be the case. And or or we misunderstood. Right? Because without a deck, you're trying to follow it while you're trying to read the chat, while you're trying to look for the company's metrics, and you go to their website, So it's very easy to miss things during that process. So that might be on us.

01:14:32

And the other part of it is,

And the other part of it is,

01:14:34

Some information, the the the lead was buried. When when the lead is buried, I get I get a a spidey thing goes off where I'm, like, I'm nervous. What what am I nervous about here? Now that doesn't mean that it's always the case or that he meant to do that. But he he could have just been nervous or something because there are a lot of people watching, but there something the pitch the the the pitch was missed.

Some information, the the the lead was buried. When when the lead is buried, I get I get a a spidey thing goes off where I'm, like, I'm nervous. What what am I nervous about here? Now that doesn't mean that it's always the case or that he meant to do that. But he he could have just been nervous or something because there are a lot of people watching, but there something the pitch the the the pitch was missed.

01:14:54

And I feel like, you know, on one hand, I'm like you what you said was just this, like, dude, I hate kind of saying

And I feel like, you know, on one hand, I'm like you what you said was just this, like, dude, I hate kind of saying

01:15:00

you know, something not positive to an entrepreneur because I know how hard it is to be an entrepreneur and be a founder. I don't mind doing it when it's just me and them.

you know, something not positive to an entrepreneur because I know how hard it is to be an entrepreneur and be a founder. I don't mind doing it when it's just me and them.

01:15:07

Yeah. Especially in this this format,

Yeah. Especially in this this format,

01:15:10

but, you know, if you sign up to do this, if we us signing up to do this publicly and a founder signing up to do this publicly, that's the point. Right? The point of this is it's

but, you know, if you sign up to do this, if we us signing up to do this publicly and a founder signing up to do this publicly, that's the point. Right? The point of this is it's

01:15:18

you're putting yourself out there, there's a risk and reward with that. I think you have to know that going in. But but I think the, you know, the best thing that can happen is if you,

you're putting yourself out there, there's a risk and reward with that. I think you have to know that going in. But but I think the, you know, the best thing that can happen is if you,

01:15:27

I don't know if I'm right, but if I was,

I don't know if I'm right, but if I was,

01:15:29

it would be short it'd be a little pain today for a lot more, you know, benefit down the road. Right? Hard today, easy later. If we just keep it easy now and say, this looks really interesting. We'd love to chat more and just bounce up. You never know what what why we might not want it.

it would be short it'd be a little pain today for a lot more, you know, benefit down the road. Right? Hard today, easy later. If we just keep it easy now and say, this looks really interesting. We'd love to chat more and just bounce up. You never know what what why we might not want it.

01:15:44

You you you nailed it, which was

You you you nailed it, which was

01:15:47

answer the question why it's it was one point five million or eight one point eight million for two hundred customers.

answer the question why it's it was one point five million or eight one point eight million for two hundred customers.

01:15:53

And eighty thousand or hundred and sixty thousand whatever it was in revenue.

And eighty thousand or hundred and sixty thousand whatever it was in revenue.

01:15:57

There is a good answer or there could be a good answer to that.

There is a good answer or there could be a good answer to that.

01:16:01

Which is, like, dude, we're building software. Just it takes forever, but once these guys get on us, they, like, are hooked forever and they tell their friends. And, like, here's what here's how we grow. And here's how the math looks. Like, I just think that he kinda didn't present that wonderfully even if it the truth is good. Right. Right. Right.

Which is, like, dude, we're building software. Just it takes forever, but once these guys get on us, they, like, are hooked forever and they tell their friends. And, like, here's what here's how we grow. And here's how the math looks. Like, I just think that he kinda didn't present that wonderfully even if it the truth is good. Right. Right. Right.

01:16:17

Okay. I don't know. Are we doing anything else here? No. That's it. Last pitch.

Okay. I don't know. Are we doing anything else here? No. That's it. Last pitch.

01:16:21

Thank you to everybody who showed up. That was that was great. I think there was a lease companies in there that I know I would I'm gonna follow-up with to try that. Which one?

Thank you to everybody who showed up. That was that was great. I think there was a lease companies in there that I know I would I'm gonna follow-up with to try that. Which one?

01:16:29

Campus Inc. I thought was really interesting. And, pillpack one,

Campus Inc. I thought was really interesting. And, pillpack one,

01:16:33

were was really good too. I think those are my my top two. What about for you? I think I like Campus Inc. And I like the business What was the, Oh, oh, deal builder. Deal builder also is a good one. Deal. And all of the valuations are fantastic. Deal builders at four million.

were was really good too. I think those are my my top two. What about for you? I think I like Campus Inc. And I like the business What was the, Oh, oh, deal builder. Deal builder also is a good one. Deal. And all of the valuations are fantastic. Deal builders at four million.

01:16:47

Deal Builders interesting. Well, this last one was at twenty one million. Why I asked somebody last to raise was he raised eighteen or twenty four months ago when,

Deal Builders interesting. Well, this last one was at twenty one million. Why I asked somebody last to raise was he raised eighteen or twenty four months ago when,

01:16:55

when things were hot and,

when things were hot and,

01:16:58

That that Yeah. And if your valuation's twenty one million, the bar is higher on what you need to deliver. Right? The pillpack guy is like, got two thousand, you know, he he said, like, we made fifteen hundred dollars in revenue or something like that, but he launched two months ago. And,

That that Yeah. And if your valuation's twenty one million, the bar is higher on what you need to deliver. Right? The pillpack guy is like, got two thousand, you know, he he said, like, we made fifteen hundred dollars in revenue or something like that, but he launched two months ago. And,

01:17:11

he's raising at, like, a three or four million dollar cap. Right? So Yeah. Like, the the they don't push as hard on that. Like, when I think about what I'm doing with my personal money right now, I'm like, man, like, I think some of these tech stocks, like, or just the just the total index is just a little, like, under price at the moment. And I think, like, there's gonna be some upside. And then I look at, like, a twenty million dollar company, and I'm, like, okay. What the this is still super high risky, and it needs to have a fairly good outcome to make the risk worth it for me. Whereas, a four million dollar deal with just one guy working on it, you know, it's like, you know, yeah, that could actually survive a little maybe higher likelihood of COVID survive, and it and it the return could be great. So

he's raising at, like, a three or four million dollar cap. Right? So Yeah. Like, the the they don't push as hard on that. Like, when I think about what I'm doing with my personal money right now, I'm like, man, like, I think some of these tech stocks, like, or just the just the total index is just a little, like, under price at the moment. And I think, like, there's gonna be some upside. And then I look at, like, a twenty million dollar company, and I'm, like, okay. What the this is still super high risky, and it needs to have a fairly good outcome to make the risk worth it for me. Whereas, a four million dollar deal with just one guy working on it, you know, it's like, you know, yeah, that could actually survive a little maybe higher likelihood of COVID survive, and it and it the return could be great. So

01:17:52

downing the way, that's where I am. This is, I love that the chat here. These people are such, like, There's so many funny people and, like, interesting smart people. Yeah. The chat makes it a lot of fun. Like, Henry just now just goes,

downing the way, that's where I am. This is, I love that the chat here. These people are such, like, There's so many funny people and, like, interesting smart people. Yeah. The chat makes it a lot of fun. Like, Henry just now just goes,

01:18:04

He's like, this,

He's like, this,

01:18:06

this, this, this pitch was WLD.

this, this, this pitch was WLD.

01:18:08

A whole lot of dogs.

A whole lot of dogs.

01:18:14

I love this, man. These guys are great. So I, I, I almost kinda wanna have, like, do a pod every once in a while where we have a live chat. This is actually quite good.

I love this, man. These guys are great. So I, I, I almost kinda wanna have, like, do a pod every once in a while where we have a live chat. This is actually quite good.

01:18:23

Yeah. Maybe we should. And thanks for coming out. If people like this Stung sing, this is the second time we've done this live pitch. If it's cool, we'll do it again. Dude, these guys, stocks?

Yeah. Maybe we should. And thanks for coming out. If people like this Stung sing, this is the second time we've done this live pitch. If it's cool, we'll do it again. Dude, these guys, stocks?

01:18:32

Like, I'm biased here, but I'm impressed every time I I go on their platform. It is cool, isn't it?

Like, I'm biased here, but I'm impressed every time I I go on their platform. It is cool, isn't it?

01:18:38

Yeah. It's pretty sweet. So That's not really such a pitch. Sorry. But It's really cool. We're at one point three million of total interest was expressed. So so they really did help these companies raise money.

Yeah. It's pretty sweet. So That's not really such a pitch. Sorry. But It's really cool. We're at one point three million of total interest was expressed. So so they really did help these companies raise money.

01:18:49

Pretty dope. Five hundred people were here kinda hanging out. And, alright. That's it. We're out of here.

Pretty dope. Five hundred people were here kinda hanging out. And, alright. That's it. We're out of here.

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