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EYL #172 Black Owned Equity Crowdfunding Platform · Earn Your Leisure

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  Speaker 1: An illegal alien from Guatemala charged with raping a child
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  Speaker 2: Sponsored by the United States Department of Homeland Security.
• 1:02
  Speaker 3: My graduates from my school being forced back drop drop drop.
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  Speaker 4: Drop.
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  Speaker 5: All right, guys, welcome back, e y l. We are
• 1:24
  Speaker 5: in our Atlanta headquarters. Yes, yes, yes, So this is
• 1:30
  Speaker 5: episode that is going to be extremely educator. I already
• 1:32
  Speaker 5: know off the rip. So we talk about funding a business.
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  Speaker 5: A lot of times people hear about like venture capital
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  Speaker 5: or they know, like you know, just liquidate the money
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  Speaker 5: that they have. But equity crowdfunding is something that we
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  Speaker 5: spoke about a while ago. Shout out to Mike Brown.
• 1:46
  Speaker 5: He think it was the first person on our platform.
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  Speaker 5: He was on a perspective of actually raising money, so
• 1:52
  Speaker 5: he came in, he spoke about equity crowdfunding. But it
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  Speaker 5: hasn't been something that we really have touched on. So Pierre, Yeah,
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  Speaker 5: the l person sorry, yeah, so actually came to our
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  Speaker 5: event in La, right, so he has an interesting stories
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  Speaker 5: from La originally but then was a ten year veteran
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  Speaker 5: of Wall Street or the Wall Street for ten years
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  Speaker 5: as a banker and now actually has a startup company
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  Speaker 5: called Seat at the Table where it's a black owned,
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  Speaker 5: a black owned equity crowdfunding platform similar to like Republic
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  Speaker 5: or something like that, right where now you can actually
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  Speaker 5: go on the platform and a if you're a business,
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  Speaker 5: you can be listed, and if you're an investor, you
• 2:43
  Speaker 5: can look for opportunities to invest in the business. Because
• 2:46
  Speaker 5: that's something a lot of people always talking about like, well,
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  Speaker 5: how can I find these deals to invest in early
• 2:50
  Speaker 5: if I'm not you know, So that's what the equity crowdfunding.
• 2:52
  Speaker 5: So we'll explain what equity crowdfunding is your platform, all
• 2:55
  Speaker 5: of that stuff. But this is extremely important episode for
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  Speaker 5: a business owners but also from investors as well to
• 3:03
  Speaker 5: be educated on how to invest in startup company. So
• 3:06
  Speaker 5: this is going to be dope. Shots to my man
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  Speaker 5: lu Tucker for putting this together.
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  Speaker 4: The last Lewis, He's going by Lewis now.
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  Speaker 5: And first and foremost, thank you for joining us.
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  Speaker 4: Appreciate it. We said, La, but specifically Compton.
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  Speaker 6: Yeah, well since we Compton, Long bea chairs my dad
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  Speaker 6: is from Compton.
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  Speaker 4: We wanted we got to make that I want I
• 3:24
  Speaker 4: want the Polly eyes.
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  Speaker 6: So like when you're from LA, like the delineating factors,
• 3:27
  Speaker 6: where'd you go to high school? Like really like dudes,
• 3:29
  Speaker 6: like you said, like where'd you go to the Poly High?
• 3:31
  Speaker 6: I'm like a long beach kid, thro and through. As
• 3:34
  Speaker 6: you mentioned, I was in New York for for ten years.
• 3:35
  Speaker 6: I was a banker at Goldman. As we talked about,
• 3:38
  Speaker 6: I never got rid of my California I d uh, yeah, man,
• 3:40
  Speaker 6: it's just kind of like ears of the Streets always
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  Speaker 6: tapped in, which has kept me grounded. But it was
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  Speaker 6: definitely frustrating in New York working on Wall Street, just
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  Speaker 6: in terms of like fit perspective.
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  Speaker 4: But we can talk about that.
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  Speaker 5: Let's talk about that now, let's get into it. So
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  Speaker 5: all right, so coming from from a Long Beach and
• 4:00
  Speaker 5: that's a long way from Wall Street. Yeah, so how'd
• 4:02
  Speaker 5: you make your way from from California? And he was
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  Speaker 5: working at Goldman Sachs right, correct, What was your exactly?
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  Speaker 6: Yeah, So I think I think what's important life, man,
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  Speaker 6: is like when you hear about these stories like what
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  Speaker 6: can be replicated, people tell you like, oh, I did
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  Speaker 6: this all that, So you're like, let me know how
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  Speaker 6: you started, so I can know if it's like attainable
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  Speaker 6: to me. So I went to public on the Polly
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  Speaker 6: High four thousand kids on MLK to kind of give
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  Speaker 6: you perspective, right right next.
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  Speaker 4: To the poly apartment.
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  Speaker 6: It's like projects at the time, went to Long Beach
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  Speaker 6: State undergrad public school. I went to University of Virginia
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  Speaker 6: for business school, right, and so got an MBA. So
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  Speaker 6: that allowed me to pivot to banking. But before that, man,
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  Speaker 6: when I was an undergrad. I was a social science major.
• 4:38
  Speaker 6: I wanted to be a I was a psychology anthropology major.
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  Speaker 6: I wanted to get a PhD in psychology, like health
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  Speaker 6: the community.
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  Speaker 4: And I was like my first job out of undergrad.
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  Speaker 6: Actually, so when I went to business school, that's when
• 4:48
  Speaker 6: I found out about banking, investment banking, and you know,
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  Speaker 6: on the West Coast, banking isn't dig at all. It's like,
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  Speaker 6: I know, entertainment and so forth. Had a bank account
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  Speaker 6: at a regular bank. But like you know, even today,
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  Speaker 6: my parents still don't understand what bank is, my sister.
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  Speaker 6: But to answer your question, I managed money when I
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  Speaker 6: was in when I was in New York, so I
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  Speaker 6: worked at Goldman. I was in their investment management division.
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  Speaker 6: So I managed money for individuals, you know, ballplayers, people
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  Speaker 6: that prayed note pass and made thirty forty million dollars
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  Speaker 6: wealth management, wealth management and then foundations as well. So
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  Speaker 6: you know, it's a very and so that the minimum
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  Speaker 6: at that time. This is back from like eight twenty
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  Speaker 6: nineteen because things have changed. The firm was like a
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  Speaker 6: twenty million dollar liquid though so not real estate, right
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  Speaker 6: when you think about people that I have twenty million
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  Speaker 6: dollars of liquid capital. They walk a very different form
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  Speaker 6: of life, right, So my job was to get to
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  Speaker 6: know them, build relationships, but actually to really manage their
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  Speaker 6: I was their guy. It was like I was reporting
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  Speaker 6: to somebody else.
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  Speaker 4: Like so my firm.
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  Speaker 6: My first account was he was a Frenchman. He's probably
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  Speaker 6: that I was. I'm not French. She thought I was
• 5:48
  Speaker 6: friends who thought about this, you know, the last thing
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  Speaker 6: may have but shout today's out there. But nonetheless he
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  Speaker 6: thought I was French. But he was a founder of
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  Speaker 6: a publicly traded company.
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  Speaker 4: Ex.
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  Speaker 6: McKenzie guy like real cerebral. He would call it a
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  Speaker 6: desk bro and he would literally say it's Pierre there.
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  Speaker 6: It wasn't like any of the older white dudes was
• 6:04
  Speaker 6: like this Pierre. So I was this guy was trading
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  Speaker 6: de rivert this form, managing markets and so in that
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  Speaker 6: seat though, it allowed me to see so much deal
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  Speaker 6: flow and from a context perspective. You know, at that time,
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  Speaker 6: in my group there were about four hundred of US advisors.
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  Speaker 6: They're probably about fifteen black advisors. I was one or
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  Speaker 6: two in New York. But I was very much I
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  Speaker 6: was more so street facing, right like I was you know,
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  Speaker 6: I kind of knew everybody.
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  Speaker 4: It was being helpful to everybody.
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  Speaker 6: So when there was when it came to like having
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  Speaker 6: a relationship at Goldman, it was like Pierre was one
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  Speaker 6: of the first guys you would reach out to, even
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  Speaker 6: if it wasn't a fit, just to be a resource.
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  Speaker 4: So you know, it was.
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  Speaker 6: It was a great experience to that extent in terms
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  Speaker 6: of being a resource for the people, but in terms
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  Speaker 6: of managing money for a profile that was drastically different
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  Speaker 6: than mine, Like that was I wasn't going I wasn't
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  Speaker 6: going to the Hampton's one.
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  Speaker 4: I didn't roll crew. Yeah, like you know, it's very different.
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  Speaker 2: So like when you said fit, that's automatically thinking right,
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  Speaker 2: Like you have a salary with your managing millions and
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  Speaker 2: billions of dollars, so like going to work on a
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  Speaker 2: daily basis, Like what's that like? Because a lot of
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  Speaker 2: us have never even seen that type of money and
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  Speaker 2: I had to manage it, So what's that life?
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  Speaker 6: So when I got the gig, I had to literally
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  Speaker 6: describe it to my home and my friends like, yo,
• 7:10
  Speaker 6: it's like the equivalent getting drafted by the Lakers, because
• 7:13
  Speaker 6: dudes don't really get like they didn't really get it right,
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  Speaker 6: Like all the people that like are b school, like
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  Speaker 6: all the book smart dudes, like they get it. Like
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  Speaker 6: all you work at moment one of the best firms
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  Speaker 6: at the time, Like I got to say, like it's like,
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  Speaker 6: you know, getting drafted by a Lakers.
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  Speaker 4: So for me, I was just happy to be there. Also,
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  Speaker 4: the challenge was.
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  Speaker 6: Like, especially within our community, like I don't want to
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  Speaker 6: I don't want to mess things up, right, It's like
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  Speaker 6: you kind of like keep your head down. You're not
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  Speaker 6: really loud and vocal. So it was more of a
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  Speaker 6: surreal feeling being there. I would say one of the
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  Speaker 6: benefits though, is that although it was frustrating, I saw
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  Speaker 6: so much deal flow, Like I'm like, so now when
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  Speaker 6: you think about it, literally talking to somebody that makes
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  Speaker 6: like notepads and so their business for thirty million dollars,
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  Speaker 6: like I can make a notepad, right, So, like you
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  Speaker 6: see so many ideas and how people have accumulated wealth
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  Speaker 6: and are are are creating businesses and transacting on those businesses.
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  Speaker 6: But then you also learn the derby in terms of
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  Speaker 6: like how they're actually starting their businesses right, in terms
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  Speaker 6: of like where did they start from? Did you kind
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  Speaker 6: of building from ground up or did somebody cut you
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  Speaker 6: that check? You know, they give you the first million
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  Speaker 6: dollars so you can scale. So it was definitely an
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  Speaker 6: eye opening experience for sure. So you said, working on
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  Speaker 6: Wall Street seeing deal.
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  Speaker 5: Flow, you saw that the black house black companies weren't
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  Speaker 5: being funded.
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  Speaker 6: Yeah, yeah, so yeah, So my friend network man literally
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  Speaker 6: is like older black man from like fifty to seventy
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  Speaker 6: and like a bunch of my young boys and obviously
• 8:26
  Speaker 6: our peers, our age group. And the reason why I
• 8:28
  Speaker 6: bring that up is that when I was in New York,
• 8:30
  Speaker 6: like I used to work with a bunch of like
• 8:31
  Speaker 6: senior partners at law firm because I was always giving them,
• 8:33
  Speaker 6: like a firm reach out to me.
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  Speaker 4: It's like, hey, I'm doing seven million dollars on revenue.
• 8:38
  Speaker 6: Came home at IPO me and it was like, now
• 8:39
  Speaker 6: you finally need like two zeros behind you. But I
• 8:42
  Speaker 6: can introduce you to a middle market banker, or I
• 8:44
  Speaker 6: can introduce you to you know, an attorney, right they
• 8:47
  Speaker 6: can like actually structure the deal. So I was always
• 8:49
  Speaker 6: given out opportunities that weren't necessarily a fit for the firm.
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  Speaker 6: And you know, when you think about the minimums in
• 8:55
  Speaker 6: terms of transacting, and they were looking at deal on
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  Speaker 6: a hundred million dollar companies, right, and like we don't
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  Speaker 6: work not in.
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  Speaker 4: That space yet.
• 9:01
  Speaker 6: Minimum yeah, yeah, because they got to get their fees
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  Speaker 6: in terms of like the investments.
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  Speaker 4: Right.
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  Speaker 6: So my group is always about trading on information, like
• 9:08
  Speaker 6: literally positioning people to get deals done. So the goal
• 9:10
  Speaker 6: is you help them sell their business and then when
• 9:12
  Speaker 6: they sell their business, they bring the money back to
• 9:13
  Speaker 6: you and you manage it. But I saw so many businesses, man,
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  Speaker 6: that are out there. They're doing you know, three to
• 9:18
  Speaker 6: five million dollars that cauldn't get funding from a bull
• 9:21
  Speaker 6: back investment bank, let alone funding from some of the
• 9:24
  Speaker 6: other resources or other like pipe our other access points
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  Speaker 6: of capital. We'll love to talk to you guys about that.
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  Speaker 6: What that looks like from entrepreneurs respective.
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  Speaker 2: So in terms of funding, right, we got golden up here,
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  Speaker 2: one hundred millions to the minimum.
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  Speaker 4: But what's that mid rate?
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  Speaker 2: It did like a number a scale that that like
• 9:40
  Speaker 2: wealth managers use that like if it's ten million, it
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  Speaker 2: has to be this level.
• 9:43
  Speaker 4: Bank it's fifty million, so it's this level.
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  Speaker 6: Yeah, So let me let me differentiate it too, so
• 9:46
  Speaker 6: to having your assets managed. At the time, it was
• 9:49
  Speaker 6: like twenty million dollars a liquid network, right. But then
• 9:51
  Speaker 6: when you think about a business that may not even
• 9:53
  Speaker 6: be liquid yet that wants to sell their business. They
• 9:55
  Speaker 6: want to sell that NOTEPAC company for three hundred million dollars,
• 9:58
  Speaker 6: it has to be at least one hundred million dollars transaction, right, So,
• 10:01
  Speaker 6: like that's the difference between the two. So one is
• 10:02
  Speaker 6: getting your assets managed and the other is when you
• 10:06
  Speaker 6: when you're trying to engage an investment bank of that
• 10:08
  Speaker 6: caliber to do the deal.
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  Speaker 4: It has to be worth a certain amount, it has
• 10:11
  Speaker 4: to be worth their time.
• 10:12
  Speaker 6: But there are tons of middle what's called middle market bankers, right,
• 10:15
  Speaker 6: So the middle market bankers are typically you know, regional
• 10:17
  Speaker 6: smaller banks still notable, Maan, I think there's like excellence everywhere, right,
• 10:20
  Speaker 6: you don't got to be at a certain firm.
• 10:22
  Speaker 4: I think there's like brilliance.
• 10:23
  Speaker 6: Everywhere, but nonetheless they're situated where they can take on
• 10:26
  Speaker 6: those size deals. But yeah, but there's just like in
• 10:28
  Speaker 6: the equal you got to see more deals than I
• 10:30
  Speaker 6: do now. But right, like in the eCos, like there's
• 10:32
  Speaker 6: so many interesting companies out there that are looking for
• 10:35
  Speaker 6: access to capital, and it's been a challenge, right and
• 10:38
  Speaker 6: for a number of varying reasons we can dig into,
• 10:40
  Speaker 6: but that when I worked in that capacity, it was
• 10:42
  Speaker 6: more so like I have a company that's worth a
• 10:44
  Speaker 6: hundred million.
• 10:45
  Speaker 4: Helped me sell it? If you help me sell it
• 10:46
  Speaker 4: or your firm sells and not bring you the asset.
• 10:48
  Speaker 5: So all right, so talk about let's get into equity
• 10:51
  Speaker 5: crowdfunding conversation. What made you want to start set at
• 10:54
  Speaker 5: the table?
• 10:54
  Speaker 6: Yeah, man, it's I think I caught the interview with
• 10:57
  Speaker 6: the brother's name was Mike.
• 10:57
  Speaker 4: I think I caught the interview. Like, yeah, I think
• 10:59
  Speaker 4: I caught that interview.
• 11:00
  Speaker 7: Mat.
• 11:00
  Speaker 4: It's like I was randomly in a.
• 11:01
  Speaker 6: Starbucks and I was just frustrated because like I would
• 11:04
  Speaker 6: always when whatever I get it, whenever I would get
• 11:06
  Speaker 6: a deal, I would reach out to my network of
• 11:08
  Speaker 6: angel investors, wealthy individuals.
• 11:09
  Speaker 4: It's a small handful.
• 11:10
  Speaker 6: Why, it's not a lot of us, And I'm sure
• 11:13
  Speaker 6: they got tired of receiving They appreciated the call, but
• 11:15
  Speaker 6: you know, we all get tired of being hit up
• 11:17
  Speaker 6: at the same time. So I spent a year working
• 11:19
  Speaker 6: at a commercial bank, so it was different about like
• 11:22
  Speaker 6: commercial banking, thinking about like a Bank of America where
• 11:24
  Speaker 6: you have your deposits or whatever. Right, I worked at
• 11:26
  Speaker 6: a commercial bank on the West Coast, Like, well, I'm
• 11:28
  Speaker 6: working at the small regional commercial bank. Now I can
• 11:30
  Speaker 6: really extend capital and help people get loans and so forth.
• 11:32
  Speaker 4: And I realized how hard it was in that space, right,
• 11:35
  Speaker 4: So I was watching it. So I was at Starbucks.
• 11:37
  Speaker 4: I was frustrated.
• 11:38
  Speaker 6: I was watching like YouTube videos, and like randomly, equity
• 11:42
  Speaker 6: crowdfunding poppeduble I knew nothing about it. I've never even
• 11:44
  Speaker 6: invested in equity crowdfunding portal before that. We all, I mean,
• 11:48
  Speaker 6: most of our community knows about gofund me and kickstarted
• 11:50
  Speaker 6: for varying reasons, right, but equity clowd funding was different
• 11:54
  Speaker 6: at the time. So I saw like this episode from
• 11:56
  Speaker 6: this other one of the competing portals, and I was like, oh,
• 11:59
  Speaker 6: this is interesting, and I points like raised capital at
• 12:01
  Speaker 6: lower dollar amounts right where everybody the community can participate.
• 12:05
  Speaker 6: There are tons of research, and I quickly realized that
• 12:08
  Speaker 6: there was no portals that was intentionally focused on black
• 12:11
  Speaker 6: and brown entrepreneurs. Right, So the name is called it's
• 12:14
  Speaker 6: called Seed at the Table and it's a play of
• 12:16
  Speaker 6: having a seat at the table or a lack thereof, right,
• 12:19
  Speaker 6: so we don't often have a seat at the table.
• 12:20
  Speaker 4: For guil flow.
• 12:21
  Speaker 6: So gather the group of my friends who call family
• 12:25
  Speaker 6: with the process of getting approved by the SEC and FENRA.
• 12:28
  Speaker 6: So like all the portals are listed, they're approved. It's
• 12:29
  Speaker 6: like equivalent to explain with FINRA's yeah, thank you, because
• 12:33
  Speaker 6: sometimes you get caught up ye wait yeah. So FINRA
• 12:36
  Speaker 6: is the regulatory agency, right, So like any investment bank
• 12:40
  Speaker 6: that is our chartered bank has to deal with the
• 12:42
  Speaker 6: regular So the SEC is the Securities Exchange Commission. FINRA
• 12:45
  Speaker 6: was an additional regulator. And what they do is they're
• 12:48
  Speaker 6: making sure that everything is in proper place, right, so documentation, auditing,
• 12:54
  Speaker 6: when companies come to the portal, we have a process
• 12:56
  Speaker 6: in place and run diligence and so forth. So seat
• 12:59
  Speaker 6: at the table. The team we meet with fineral on
• 13:00
  Speaker 6: an annual basis. They're they're monitoring everything on a monthly basis,
• 13:05
  Speaker 6: you know, whether it's media, whether it's it's what we
• 13:07
  Speaker 6: put on the website, whatever the case they need. But
• 13:09
  Speaker 6: they're they're there to ensure the safety of the public.
• 13:13
  Speaker 6: Right to make sure that, because what they don't want
• 13:15
  Speaker 6: is like anybody just to pop up and create an
• 13:16
  Speaker 6: equity crowdfunding portal and start aggregating dollars, right and not
• 13:20
  Speaker 6: be uh, you know, good stewards of capital.
• 13:22
  Speaker 4: So that's what they do. So they basically regulate the process.
• 13:25
  Speaker 5: Can you talk about what equity crowdfunding is for people
• 13:28
  Speaker 5: that might not understand?
• 13:28
  Speaker 4: Sure?
• 13:29
  Speaker 6: So I mentioned uh, Kickstart and go Homeie. Those are
• 13:32
  Speaker 6: donation based crowdfunding sites. And actually, you know what I
• 13:35
  Speaker 6: should mention fun Black Founders is another donation I've got
• 13:38
  Speaker 6: to start thinking about us, right, I continue to think
• 13:40
  Speaker 6: about fund Black Founders is another donation based crowdfunding site.
• 13:43
  Speaker 6: And what they do is that they'll donate. An investor
• 13:46
  Speaker 6: can donate, us as a community can donate to the
• 13:48
  Speaker 6: companies that we like.
• 13:49
  Speaker 4: And when you donate, you may.
• 13:50
  Speaker 6: Get some swag or like a T shirt, right, just
• 13:53
  Speaker 6: like some kind of like perks.
• 13:54
  Speaker 4: Right.
• 13:55
  Speaker 6: But with equity crowdfunding, you literally own a piece of
• 13:58
  Speaker 6: the businesses that you're investing in.
• 13:59
  Speaker 4: Right. So so it's when President Obama was in office,
• 14:02
  Speaker 4: he signed what's called the Jobs Act. Jobs Act took
• 14:05
  Speaker 4: many different forms.
• 14:06
  Speaker 6: One of the benefits was it allowed for non accredited
• 14:09
  Speaker 6: investors now describe a credit versus not non a credit
• 14:11
  Speaker 6: investors to be able to invest in businesses. So historically,
• 14:15
  Speaker 6: when you think about you always hear people talk about
• 14:17
  Speaker 6: VC like I want to give mention capital access, private
• 14:19
  Speaker 6: equity access. Historically that was the only available to wealthy individuals,
• 14:22
  Speaker 6: so people that made two hundred thousand dollars or more, right,
• 14:26
  Speaker 6: or they had a household income of three hundred thousand
• 14:28
  Speaker 6: dollars or they have assets of a million dollars, right,
• 14:31
  Speaker 6: So you would hear these crazy stories like oh, I
• 14:33
  Speaker 6: invested in Uber ten years ago for five thousand dollars
• 14:36
  Speaker 6: and now I'm worth fifty million. But the reason why
• 14:38
  Speaker 6: you were able to do that because you were an
• 14:39
  Speaker 6: a credit investor. I'm sure I can start a five
• 14:41
  Speaker 6: thousand dollars among many of my friends right to have
• 14:43
  Speaker 6: that opportunity. But when President Obama signed the Jobs Act,
• 14:46
  Speaker 6: it allowed for non credit investors, so people that make
• 14:48
  Speaker 6: less than that amount to literally invest in the companies
• 14:50
  Speaker 6: that they consume, the products that the consumer as well.
• 14:52
  Speaker 4: So equity crowdfunding is more broadly.
• 14:56
  Speaker 6: Is the ability to invest in companies that lower dollar
• 14:59
  Speaker 6: amount too, So you can come to the portal see
• 15:02
  Speaker 6: at the table. You can invest in a company for
• 15:03
  Speaker 6: a little as one hundred dollars per investment. Two hundred
• 15:06
  Speaker 6: fifty dollars per investment are one thousand dollars per investment,
• 15:09
  Speaker 6: which is different from the old world when you have
• 15:11
  Speaker 6: to cut a twenty five thousand dollars check to be
• 15:13
  Speaker 6: invested in one particular company. So now as investors, whether
• 15:16
  Speaker 6: creditor or non accredited, you can actually spread those chips around, right,
• 15:20
  Speaker 6: It's like that's the cool part about it too. It's
• 15:21
  Speaker 6: like now you get to diversify your venture capital portfolio
• 15:25
  Speaker 6: and you really do have the opportunity to be an
• 15:27
  Speaker 6: investor early stage investor in early stage companies and experienced
• 15:31
  Speaker 6: that growth as well.
• 15:31
  Speaker 2: So when you are non incredited is there it's still
• 15:34
  Speaker 2: a limit amount of assets.
• 15:37
  Speaker 4: So fin or sec is on it.
• 15:38
  Speaker 6: So typically like ten percent of of your income or
• 15:42
  Speaker 6: your net worth. Right, So like when you go to
• 15:43
  Speaker 6: sea at the table, there are a couple of questions
• 15:45
  Speaker 6: and they'll ask you, like what's your networth? Have you
• 15:48
  Speaker 6: invested in equity crowd funding in the past? Because you
• 15:50
  Speaker 6: are capped, they tracked that information as well. It's such
• 15:54
  Speaker 6: a new space equity crowd funding. So last year companies
• 15:57
  Speaker 6: can raise up to a million dollars. This year you
• 15:59
  Speaker 6: can raise up to five million. But what's consistent about
• 16:02
  Speaker 6: the space is that the regulators are trying to protect
• 16:05
  Speaker 6: the investors right.
• 16:06
  Speaker 4: And it may feel heavy candid at times because you do.
• 16:09
  Speaker 2: It all without breaking a sweat, and you do it
• 16:11
  Speaker 2: all in style, from being a boss exec to getting
• 16:13
  Speaker 2: the kids ready for school, checking homework, family dinners, lunches
• 16:17
  Speaker 2: and brunches with your day ones, trips to the salon,
• 16:20
  Speaker 2: and we can getaways at anything but a getaway. That's
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• 17:00
  Speaker 4: Like why don't want to be limited?
• 17:01
  Speaker 6: I want to invest all my bread in this particular startup,
• 17:04
  Speaker 6: but they want to make sure when you think about
• 17:05
  Speaker 6: venture capital that this is my just recommendation that you
• 17:09
  Speaker 6: only invest what you can afford to lose and not
• 17:11
  Speaker 6: really be bothered or are constantly focused on right. And
• 17:14
  Speaker 6: so you know, there's a lot of intentionality in terms
• 17:16
  Speaker 6: of like the disclaimers that you have to check, the
• 17:18
  Speaker 6: education that you have to check with navigating the website
• 17:21
  Speaker 6: to make sure that you're not going above your means
• 17:23
  Speaker 6: in terms of investing in that quek crowd.
• 17:25
  Speaker 5: Fund, because like venture capital, what we've been learning is
• 17:28
  Speaker 5: that most of the time it's not going to work
• 17:31
  Speaker 5: out at all. Like if you invest in ten deals,
• 17:34
  Speaker 5: nine might not go anywhere, but the one that does
• 17:37
  Speaker 5: work out that can make up for all of the
• 17:39
  Speaker 5: ones that don't work out within even more so.
• 17:43
  Speaker 4: So.
• 17:43
  Speaker 6: So you know, my day to day I work with
• 17:45
  Speaker 6: venture capital firms and like due diligence and like look
• 17:47
  Speaker 6: at help them evaluate the comings that they're getting ready
• 17:49
  Speaker 6: to invest in. But that's the VC model, right, So
• 17:52
  Speaker 6: like they get they raised they have a fifty million,
• 17:54
  Speaker 6: one hundred million million dollar fund and they literally are
• 17:57
  Speaker 6: making a million dollar investments across one hundred names whatever
• 18:00
  Speaker 6: the math works, and they're spreading their chips and they
• 18:02
  Speaker 6: just want one investment or hopefully, you know, whatever the
• 18:05
  Speaker 6: case can be, to be like one hundred x return.
• 18:07
  Speaker 6: They know that the majority of those investments aren't going
• 18:10
  Speaker 6: to turn out to anything, but all you need is
• 18:11
  Speaker 6: want to be one hundred x. So you know, what
• 18:14
  Speaker 6: you just described is the VC approach, where you know,
• 18:16
  Speaker 6: day to day investors should take the same approach where
• 18:18
  Speaker 6: it's like, all right, you have ten thousand dollars that
• 18:20
  Speaker 6: you want to invest. You could invest in one company,
• 18:22
  Speaker 6: but in terms of like ease of mind, why not
• 18:24
  Speaker 6: invest in a thousand dollars across the table, right, and
• 18:26
  Speaker 6: like in the hope that one hits. And obviously, like
• 18:28
  Speaker 6: at a twenty x or thex i'll set the math
• 18:31
  Speaker 6: just got a bad ten percent.
• 18:32
  Speaker 4: Yeah.
• 18:33
  Speaker 5: So, like as far as for people to have an understanding,
• 18:35
  Speaker 5: like when they're actually invested in equity crowdfund, can you
• 18:37
  Speaker 5: talk about like a safe note.
• 18:39
  Speaker 6: Or like yeah, so I think so there's there are
• 18:42
  Speaker 6: two audiences, right, So there's the investors that come to
• 18:46
  Speaker 6: the portal that want to invest in startup ideas, right
• 18:48
  Speaker 6: when you come to our portals, primarily diverse, unpacked entrepreneurs.
• 18:52
  Speaker 6: And then there are the entrepreneurs themselves that are trying
• 18:54
  Speaker 6: to raise capital. So what you were just describing is
• 18:57
  Speaker 6: a vehicle a safe note. It's a vehicle to race cap.
• 19:00
  Speaker 6: So you can do a safe note, you can do
• 19:02
  Speaker 6: a revenue note, you can do it. You can do
• 19:04
  Speaker 6: we're talking about equity. You can also do loans as well. Right,
• 19:06
  Speaker 6: So as a business owner, i own XYZ company, what
• 19:10
  Speaker 6: I'll do is I'll say I'm going to raise a
• 19:12
  Speaker 6: million dollars.
• 19:13
  Speaker 4: It's going to be in the form of a safe note.
• 19:15
  Speaker 6: So it's basically, I forgot what the S is for,
• 19:17
  Speaker 6: but it's up for agreement for future equity, right, And
• 19:20
  Speaker 6: so it's a document that says, hey, you invested.
• 19:21
  Speaker 4: Ten thousand dollars.
• 19:22
  Speaker 6: Right, it's all contracted up and you know what's important
• 19:26
  Speaker 6: on a safe note. This document you can go to
• 19:29
  Speaker 6: y combinator dot com. They have them available for companies
• 19:31
  Speaker 6: that are thinking about issuing THEBLE. It outlines the specifics
• 19:35
  Speaker 6: of the investment the company is worth ten million dollars.
• 19:39
  Speaker 6: That's often considered a valuation cap.
• 19:41
  Speaker 4: Right.
• 19:42
  Speaker 6: It has a conversion trigger a million dollars, right, and
• 19:46
  Speaker 6: then has what's a conversion yep, and it has your
• 19:48
  Speaker 6: investment ou so a ten million dollar company, right, evaluation cap,
• 19:53
  Speaker 6: you invest ten thousand dollars, right, or you invest one
• 19:55
  Speaker 6: hundred thousand dollars.
• 19:56
  Speaker 4: Right, I'm a ten million dollar company.
• 19:57
  Speaker 6: What you'll do is you'll take your investment amount and
• 19:59
  Speaker 6: you'll do buy by the valuation cap, and that's your ownership.
• 20:03
  Speaker 4: Right.
• 20:03
  Speaker 6: So it's you know, it's that one hundred thousand dollars
• 20:05
  Speaker 6: to buy to buy ten million. That's so much of
• 20:07
  Speaker 6: the company that you own. But you're not on what's
• 20:10
  Speaker 6: considered to be the cap table, Like you're not listed
• 20:12
  Speaker 6: as an owner until it actually converts into real equit.
• 20:15
  Speaker 6: You just have this document that the safe note that
• 20:18
  Speaker 6: entitles you to equity. So the conversion trigger is you
• 20:22
  Speaker 6: you're just a paper holder until I do my next
• 20:24
  Speaker 6: round of funding, right, and it has to be a
• 20:26
  Speaker 6: million dollars or more because your trigger was a million dollars.
• 20:29
  Speaker 6: So once you do a next raise, or maybe you
• 20:31
  Speaker 6: get bought out, or maybe somebody comes in and invest
• 20:32
  Speaker 6: three million dollars. That's when you convert to equity. But
• 20:35
  Speaker 6: what ends up happening is when somebody comes in they say,
• 20:38
  Speaker 6: you know what, I'm going to give you five million
• 20:40
  Speaker 6: dollars for We'll say ten percent of your business, right,
• 20:43
  Speaker 6: So that means that you're worth you know, if you
• 20:44
  Speaker 6: can't think of fifty million dollars or whatever, it's going
• 20:46
  Speaker 6: to be right. Your math is still divided by the
• 20:50
  Speaker 6: ten million dollar valuation cap. You're not diluted. So what
• 20:52
  Speaker 6: the safe note does is just really outlines within what's
• 20:56
  Speaker 6: inteled in the investment.
• 20:57
  Speaker 4: Right.
• 20:57
  Speaker 6: Sometimes when people raise capital, they literally let you come
• 21:00
  Speaker 6: in and be on the cap table, right, and you
• 21:02
  Speaker 6: are like from day one, an equity owner.
• 21:06
  Speaker 4: What's hard about kind of cap table management.
• 21:08
  Speaker 6: It's a very expensive process because you have to get
• 21:10
  Speaker 6: evaluation on it.
• 21:11
  Speaker 4: Right.
• 21:11
  Speaker 6: So when many startups are starting their business, they don't
• 21:14
  Speaker 6: want to pay forty fifty k to get the business
• 21:16
  Speaker 6: our thirty k. Howe you work the math to get
• 21:18
  Speaker 6: the business value. They rather extend these safe notes, which
• 21:21
  Speaker 6: allow me to say, hey, I'm able to raise capital.
• 21:23
  Speaker 6: It's a contract between you and I that says you're
• 21:26
  Speaker 6: entitled to the x amount of dollars of exposure right
• 21:29
  Speaker 6: cap because you have that evaluation cap. But it's something
• 21:32
  Speaker 6: that just documents the process. So there are other ways
• 21:34
  Speaker 6: to document it. But safe notes are fairly popular. We
• 21:38
  Speaker 6: see the table. We don't endorse one vehicle over the other.
• 21:41
  Speaker 6: But when you think about, like in the early VC
• 21:43
  Speaker 6: stage Eschal, when you're trying to minimize startup costs or
• 21:46
  Speaker 6: minimize legal costs, and safe notes play one a.
• 21:50
  Speaker 4: Revenue note, right, are just a debt note.
• 21:53
  Speaker 6: So what's interesting to me in the space is that
• 21:57
  Speaker 6: so when you think about your business, right, you can
• 21:58
  Speaker 6: go to you can try to go to the bank.
• 22:00
  Speaker 6: I want to talk about that process. You can try
• 22:01
  Speaker 6: to go hit a bag and get a loan and
• 22:03
  Speaker 6: they'll give you their terms or whatever the case and be.
• 22:05
  Speaker 6: They'll look at your financials for two years and want
• 22:07
  Speaker 6: to make sure that you have reoccurring revenue and so forth,
• 22:09
  Speaker 6: and they'll give you a standard loan. You're going to
• 22:11
  Speaker 6: borrow a million dollars and you're going to pay ten
• 22:14
  Speaker 6: percent interest.
• 22:14
  Speaker 4: Right So, and you guys know this better than I do.
• 22:17
  Speaker 6: Like, as as a debt holder, you are constantly worried
• 22:20
  Speaker 6: about paying that the monthly payment or whatever whatever the
• 22:22
  Speaker 6: payment may be on that ten percent. Right, with a
• 22:25
  Speaker 6: revenue note, you can often structure the repayment based on
• 22:28
  Speaker 6: the revenue that you make. So as opposed to saying like, hey,
• 22:31
  Speaker 6: every year, I'm paying one hundred thousand dollars ten percent
• 22:33
  Speaker 6: on a million dollar loan, I'm only paying, what I'm
• 22:36
  Speaker 6: going to do is I'm going to take twenty five
• 22:38
  Speaker 6: percent of my you know, yearly revenue, right, and I'm
• 22:42
  Speaker 6: going to allocate that twenty five.
• 22:43
  Speaker 4: Percent to paying down the debt. Right.
• 22:45
  Speaker 6: And so for entrepreneurs that are just getting started that
• 22:48
  Speaker 6: are cast strapped, it's like, all right, when money didn't
• 22:50
  Speaker 6: come in, I still got to pay the bank. That's
• 22:51
  Speaker 6: ten percent. It alleviates that burden where it's like you're
• 22:54
  Speaker 6: only paying based when based on the amount of revenue
• 22:56
  Speaker 6: that you've accumulated for that year or that month. So
• 22:59
  Speaker 6: what the revenue note does it once again and documents
• 23:01
  Speaker 6: the process, but it allows the entrepreneur to pay back
• 23:04
  Speaker 6: capital based on their revenue as opposed to like the
• 23:06
  Speaker 6: monthly are the time frame perspective of it.
• 23:09
  Speaker 2: You said something about evaluations and process and how expensive
• 23:12
  Speaker 2: that is.
• 23:13
  Speaker 4: We've spoken about evaluating before in terms.
• 23:15
  Speaker 2: Of how profitable it could be if your company has
• 23:18
  Speaker 2: all these things in terms of how they'll be evaluated.
• 23:20
  Speaker 4: But what's the actual process, Like, yeah, I think it's
• 23:23
  Speaker 4: I think it's worthwhile.
• 23:24
  Speaker 6: I managed to talk about like the entrepreneurs process and
• 23:26
  Speaker 6: turns the game to access to capital because.
• 23:28
  Speaker 4: It's hard man, Like, it's it's I think you know.
• 23:31
  Speaker 6: We are encouraging entrepreneurship, and I will continue encourage entreprenship
• 23:34
  Speaker 6: entrepreneurship for the people that it works out for.
• 23:36
  Speaker 4: But there are four main verticals.
• 23:38
  Speaker 6: One is we exhaust our own savings form one case,
• 23:41
  Speaker 6: credit cards, balance sheees, and so forth.
• 23:43
  Speaker 4: Right.
• 23:43
  Speaker 6: Two is that if you are fortunate to have like
• 23:45
  Speaker 6: a robust friends and family network of wealthy individuals, you'll
• 23:48
  Speaker 6: tap your friends and say, hey, I'm doing this friends
• 23:50
  Speaker 6: and family around. We're doing it via a safe note.
• 23:53
  Speaker 6: We'd like to raise one hundred thousand dollars.
• 23:55
  Speaker 4: Right.
• 23:55
  Speaker 6: Third is that you go to a bank and you're like, hey,
• 23:57
  Speaker 6: I have this business that's revenue generating or not, that's
• 24:00
  Speaker 6: profitable or not the things like that's great, but there's
• 24:03
  Speaker 6: no recourse, there's no assets to serve as collateral, like
• 24:06
  Speaker 6: if the loan were to fall apart, how does the
• 24:08
  Speaker 6: bank get paid back?
• 24:09
  Speaker 4: Right, So it's a very frustrating process.
• 24:10
  Speaker 6: They want to see like two years of income statements, right,
• 24:13
  Speaker 6: And like with any instance that they can bank, you'll say, okay,
• 24:16
  Speaker 6: well you can put your house up as a former recourse,
• 24:18
  Speaker 6: and we still need a second signature as well as well.
• 24:20
  Speaker 6: So like access from a banking a traditional banking perspective
• 24:23
  Speaker 6: is very challenging. And then fourth is venture capital and
• 24:26
  Speaker 6: so with VC we talk about it often, but it's
• 24:28
  Speaker 6: hard for anybody to get VC capital, and it's particularly
• 24:31
  Speaker 6: hard for black and brown entrepreneurs to get it. And
• 24:34
  Speaker 6: in all fairness, the VC community is my clients. I
• 24:36
  Speaker 6: work with them on a day to day basis. What
• 24:38
  Speaker 6: they're often saying is that, you know, not just like
• 24:40
  Speaker 6: it's not a fit. What they're realizing more importantly is
• 24:43
  Speaker 6: that we as a community rush the venture capital too quickly, right,
• 24:47
  Speaker 6: because once you what ends up happening, it's like I
• 24:48
  Speaker 6: have a business. You know, money is going out, no
• 24:51
  Speaker 6: money is coming in. I tapped all my sayings, you know,
• 24:54
  Speaker 6: kind of with the friends of family around. I can't
• 24:55
  Speaker 6: get a loan from a bank. I hear that VC
• 24:57
  Speaker 6: is cutting checks, right, like, how do I go about
• 24:59
  Speaker 6: getting that money? And so, but you still have an
• 25:00
  Speaker 6: established product market fit yet you still haven't got your
• 25:03
  Speaker 6: business up and running yet. So we don't necessarily have
• 25:06
  Speaker 6: the luxury of operating in the red, right, whereas my
• 25:09
  Speaker 6: majority counterparts they can be down for a year or
• 25:12
  Speaker 6: two years and they can still operate because somebody's going
• 25:14
  Speaker 6: to inject capital. But to your question about the process
• 25:17
  Speaker 6: of beginning, you know, valuation or just like that how
• 25:20
  Speaker 6: arduous like documenting stuff is right, So we think about
• 25:23
  Speaker 6: the restaurant owner, bar owner, or the you know, the
• 25:26
  Speaker 6: widget manufacturer. You know, they're operating their business, but when
• 25:29
  Speaker 6: they're trying to raise capital, they got to get their
• 25:30
  Speaker 6: paperwork documented. So obviously, you know formation in terms of
• 25:35
  Speaker 6: the type of company it is, there has to be
• 25:36
  Speaker 6: an audit that takes place.
• 25:38
  Speaker 4: In equity crowdfunding.
• 25:39
  Speaker 6: If you raise zero to two hundred and fifty thousand dollars,
• 25:42
  Speaker 6: it can be self reported financial so like, hey, I'm
• 25:44
  Speaker 6: the CEO, this is my income statement, this is my
• 25:46
  Speaker 6: balance sheet, and so forth. When it's two fifty to
• 25:48
  Speaker 6: a million, it has to be CPA reviews. So you
• 25:51
  Speaker 6: have to pay a CPA to review it over the
• 25:53
  Speaker 6: last two years. If it's a million to five million,
• 25:55
  Speaker 6: it's a full CPA audit, Right, So to your point,
• 25:59
  Speaker 6: like what's the process, Like what is it about the
• 26:01
  Speaker 6: cpaud It can be very expensive, right, somebody's going to
• 26:04
  Speaker 6: charge you twenty thousand dollars fifteen thousand dollars just to
• 26:06
  Speaker 6: evaluate your business and to really get an understanding of
• 26:11
  Speaker 6: the financials of the business so you can submit it
• 26:12
  Speaker 6: to the SEC. So if you're raising a million dollars
• 26:15
  Speaker 6: and maybe you're not even revenue generating yet, and I'm
• 26:17
  Speaker 6: saying like, hey, and what are to raise that million dollars?
• 26:19
  Speaker 6: You got to do a CPA audit. That's going to
• 26:21
  Speaker 6: cost you twenty k. You got to create your safe
• 26:24
  Speaker 6: note with an attorney, which we advise. Right, that's going
• 26:26
  Speaker 6: to cost you another fifteen to twenty k.
• 26:29
  Speaker 4: Right, and then there are some other you know, ancillary costs.
• 26:32
  Speaker 6: Well, it's a very expensive process in addition to the
• 26:34
  Speaker 6: fees that any equity cloud funding portal will charge.
• 26:37
  Speaker 4: You for providing space to facilitate that transaction.
• 26:40
  Speaker 6: Right, So you know you may raise and this is
• 26:43
  Speaker 6: like getting talked about the legislation how expensive it is
• 26:46
  Speaker 6: for folks in general to raise capital, especially for you know,
• 26:48
  Speaker 6: startup companies and diverse entrepreneurs, Like we just don't have
• 26:51
  Speaker 6: the cash available. Like we're in this process as we
• 26:54
  Speaker 6: as an entrepreneur, we're in this process to get access
• 26:57
  Speaker 6: to capital. But now in order to get it, I
• 26:58
  Speaker 6: got to pay out so much, so much. And in
• 27:01
  Speaker 6: all fairness though, you know, when you go to a bank,
• 27:03
  Speaker 6: that's what they want to see. They want to see statements,
• 27:05
  Speaker 6: they want to see your inventory, right, they want to
• 27:07
  Speaker 6: make sure that your affairs are in order. Although with
• 27:10
  Speaker 6: equity crowdfunding it's just as rigid and like the diligence.
• 27:14
  Speaker 4: Process is the same. But at the same.
• 27:16
  Speaker 6: Time that we are not asked particular about who we
• 27:20
  Speaker 6: allow them to access capital, right because once again we're
• 27:23
  Speaker 6: just a platform that allows individuals to raise from their network.
• 27:26
  Speaker 4: So and that's one thing we didn't talk about.
• 27:27
  Speaker 6: It's like the beauty of equity crowdfunding is that it
• 27:29
  Speaker 6: allows you to monetize your customer base your followers as well. Right,
• 27:33
  Speaker 6: if you're a popular person and you have a business
• 27:36
  Speaker 6: or an idea, it's like, yeah, you can go to
• 27:38
  Speaker 6: a bank or try to go VC, because that's what
• 27:39
  Speaker 6: we're talking to people, like why not.
• 27:40
  Speaker 4: Start at home?
• 27:41
  Speaker 6: And like, now you know, many black folks haven't been
• 27:44
  Speaker 6: in a position where we can literally call that wealthy.
• 27:46
  Speaker 6: I don't have a wealthy uncle, right, But it's like
• 27:47
  Speaker 6: you don't necessarily call that wealthy all, like call your
• 27:49
  Speaker 6: friends as opposed to doing a three hundred dollars dinner
• 27:52
  Speaker 6: for a person, like have.
• 27:53
  Speaker 4: Them investing in your company, right, And then.
• 27:55
  Speaker 6: What's also beautiful about it, beyond actually raising the capital,
• 27:58
  Speaker 6: is that now you get a form of add you
• 28:00
  Speaker 6: can see, right, So it's like, now you have you
• 28:01
  Speaker 6: think about your your customers. They love your product, they
• 28:03
  Speaker 6: love your show. They're gonna listen no matter what right,
• 28:05
  Speaker 6: they're going to consume it. But imagine how vocal somebody
• 28:09
  Speaker 6: would be to say, you know what, I love the show.
• 28:12
  Speaker 6: I love the product. You should love it too. But
• 28:14
  Speaker 6: also I'm an investor in the show. I'm an investor
• 28:17
  Speaker 6: in the product.
• 28:17
  Speaker 4: You should love the product, and you should think about
• 28:19
  Speaker 4: investing as well. So now you've got.
• 28:21
  Speaker 6: People carrying the flag on your behalf, right, as opposed
• 28:23
  Speaker 6: to getting one check from one individual and like the
• 28:27
  Speaker 6: money is good, Like.
• 28:28
  Speaker 4: There's no advocacy.
• 28:29
  Speaker 6: So I think that when you think about how to
• 28:31
  Speaker 6: drive new customers new following, equity crowdfunding.
• 28:34
  Speaker 4: Is a very is a viable like a viable outlet.
• 28:37
  Speaker 6: In terms of from a dollar perspective and like a
• 28:39
  Speaker 6: crowd you know, mobilization perspective.
• 28:41
  Speaker 2: So you spoke about ancillary fees and you said that
• 28:45
  Speaker 2: the the equity crowdfund platform that's hosting charges you have
• 28:51
  Speaker 2: the platformt So is there like an industry standard that
• 28:53
  Speaker 2: they charge to.
• 28:54
  Speaker 6: Have your host So typically, based on research that our
• 28:57
  Speaker 6: team is that it's about seven percent. It can range
• 28:59
  Speaker 6: from five to ten, you know, but seven percent on average.
• 29:01
  Speaker 6: I see at the table, we charge seven percent. The
• 29:04
  Speaker 6: way that we do it, though, is a bit different
• 29:06
  Speaker 6: from the industry. So let me kind of talk about
• 29:08
  Speaker 6: the nuances of seat at the table. So I see
• 29:10
  Speaker 6: the table or a portal like any other equity crowdfunding porto.
• 29:13
  Speaker 4: But we tout this concept of family.
• 29:15
  Speaker 6: Right, So when you go on the website, you'll see
• 29:17
  Speaker 6: you twenty to forty different profiles, and so the family
• 29:20
  Speaker 6: members consist of bankers, attorneys, people that worked in CpG
• 29:24
  Speaker 6: for twenty years, you know, marketing, like the industry experts
• 29:28
  Speaker 6: people that had exits on their end. So when you,
• 29:29
  Speaker 6: as an entrepreneur, you come to the portal you're trying
• 29:32
  Speaker 6: to raise capital, we provide you with access to the family.
• 29:36
  Speaker 4: So now, if you have a.
• 29:37
  Speaker 6: Haircare product, there's somebody in the family that worked at
• 29:39
  Speaker 6: you know, are a make up probably somebody worked at
• 29:41
  Speaker 6: like a Lorel for twenty years, so they can help
• 29:43
  Speaker 6: you think through logistics, operations and things of that aguor
• 29:46
  Speaker 6: So we charge seven percent just like anybody else does.
• 29:49
  Speaker 6: But what we do is, if you're raised a million dollars,
• 29:51
  Speaker 6: seven percent of the amount that's raised, you're raising a
• 29:53
  Speaker 6: million dollars.
• 29:54
  Speaker 4: That's seven thousand dollars in fees. Right.
• 29:56
  Speaker 6: What we'll see that the table does that fifty thousand
• 29:59
  Speaker 6: is a check, is in cash to see at the table.
• 30:01
  Speaker 6: The other twenty thousand is in the form of equity,
• 30:04
  Speaker 6: the same safe note that you extended to your community.
• 30:06
  Speaker 6: Because what see this thinking is that hey, we are
• 30:08
  Speaker 6: long term investors and we are long term partners with
• 30:10
  Speaker 6: our community.
• 30:11
  Speaker 4: It's not about the one off transaction.
• 30:13
  Speaker 6: We're putting so much sweat equity and we're making so
• 30:15
  Speaker 6: many introductions that we want to see you be successful
• 30:17
  Speaker 6: beyond the actual like raise itself. So they answer your
• 30:20
  Speaker 6: question seven percent standard I see the table, it's seven percent,
• 30:23
  Speaker 6: but it's five percent cash and then two percent in
• 30:26
  Speaker 6: terms of like equity two percent of.
• 30:27
  Speaker 4: The raising out in terms exactly.
• 30:29
  Speaker 5: So as far as for people that are looking to invest,
• 30:34
  Speaker 5: what is some of the education they need to know?
• 30:35
  Speaker 4: Like as far as to.
• 30:38
  Speaker 5: You invest one thousand dollars, what does that equate to?
• 30:41
  Speaker 5: As far as like a percentage breakdown, when should you
• 30:44
  Speaker 5: expect to get your money back? How you know, just
• 30:47
  Speaker 5: to kind of because I think a lot of times people,
• 30:49
  Speaker 5: especially equity crowd fund, it's important for people to be educated, sure,
• 30:52
  Speaker 5: so they don't have misleading expectations.
• 30:55
  Speaker 6: I mean that's that's what's dope about your shows about
• 30:57
  Speaker 6: education and like us, all I'm doing educating So funny
• 31:01
  Speaker 6: shout out to the teacher I taught. When you're a
• 31:02
  Speaker 6: high school math Domingus High School and Compton. Uh yeah,
• 31:06
  Speaker 6: like holoiticing CHAML Yeah, exactly, a bunch of a bunch
• 31:08
  Speaker 6: of stars the ingas roll. But you know something big
• 31:11
  Speaker 6: on educations, Like I'm educating the investors what you were
• 31:14
  Speaker 6: just asking about, But we're also educating the entrepreneurs about
• 31:17
  Speaker 6: getting your paperwork or whatever, right, doing the audits, and
• 31:19
  Speaker 6: like how do you structure, like what do you use
• 31:21
  Speaker 6: a safe note revenue note? But to the question about
• 31:23
  Speaker 6: educating the investors, So you're just like you're asking, like,
• 31:26
  Speaker 6: so I talked about what's your ownership? So you got
• 31:28
  Speaker 6: to take that if it's a safe note, member of
• 31:30
  Speaker 6: the evaluation cap, divide and buy how much money you've
• 31:32
  Speaker 6: put in, Right, that's your ownership in the company. When
• 31:35
  Speaker 6: you think about investing in equity crowdfunding, you should only
• 31:37
  Speaker 6: invest what your ones to part ways with.
• 31:39
  Speaker 4: Right. It's not like a stock. You know, you're not
• 31:41
  Speaker 4: tracking the ticker on a daily basis. Right.
• 31:44
  Speaker 6: You know, typically with private and you got to think about,
• 31:46
  Speaker 6: like with private investing in general, it's something that you're
• 31:49
  Speaker 6: going to hold onto in perpetuity or hold on to forever, right,
• 31:52
  Speaker 6: and so the way you get paid back. And this
• 31:54
  Speaker 6: is like one of the questions you were like what
• 31:55
  Speaker 6: should people think about You should always, regardless of if
• 31:58
  Speaker 6: you're doing pe vc, any type of investments, you want
• 32:01
  Speaker 6: to ask the person, like what is the exit opportunity?
• 32:03
  Speaker 4: How am I getting? What does that look like? Right?
• 32:05
  Speaker 4: If you're going to invest in a company.
• 32:07
  Speaker 6: So typically it's either you know, the company that you've
• 32:09
  Speaker 6: invested in has gotten bought by a strategic right that
• 32:11
  Speaker 6: a company that's already in the space that says, hey,
• 32:13
  Speaker 6: you're doing something really interesting, let me buy you. Are
• 32:16
  Speaker 6: like more notably, we know like people call IPO right,
• 32:19
  Speaker 6: are in many instances companies fail, right, And it's like
• 32:21
  Speaker 6: that's like, so you have to like literally lock in
• 32:23
  Speaker 6: on the possibility, a strong possibility that the company won't
• 32:27
  Speaker 6: be successful.
• 32:28
  Speaker 4: Right.
• 32:28
  Speaker 6: So that's why the disclaimer about and that's only what
• 32:31
  Speaker 6: you're willing to part with, know that you can't trade it.
• 32:33
  Speaker 6: There's no secondary market. Like it's not like I buy
• 32:35
  Speaker 6: a piece of my favorite coffee shop. I invest in
• 32:38
  Speaker 6: a piece of my favorite coffee shop. I can sell
• 32:39
  Speaker 6: it to you that the industry isn't there yet, they're
• 32:41
  Speaker 6: still evolving, right, but it's like the benefit to me
• 32:44
  Speaker 6: is like, hey, I own a piece of this coffee shop.
• 32:47
  Speaker 6: Maybe the way it was either a debt note or
• 32:49
  Speaker 6: maybe they destructure where they're giving our gibing is sometimes
• 32:51
  Speaker 6: you can get paid cash, like the investments can give
• 32:53
  Speaker 6: you dividends, but you are literally an owner in that bar.
• 32:56
  Speaker 6: Or that coffee shop or any other you know probatly
• 32:58
  Speaker 6: that you consume. But to answer your question or to
• 33:00
  Speaker 6: be more concise about it, yeah, it's like there's no
• 33:02
  Speaker 6: secondary market. You're going to own it for your ideally,
• 33:05
  Speaker 6: you don't own it forever. You get paid when the
• 33:07
  Speaker 6: business sells. Very similar to like, you know, a real
• 33:11
  Speaker 6: estate transaction, like you know, when you own a piece
• 33:13
  Speaker 6: of the house, when you own the house that you're
• 33:14
  Speaker 6: living in, you don't actually make money on the house
• 33:17
  Speaker 6: that you're living in until you sell it and you're
• 33:18
  Speaker 6: hoping that you're selling it at a higher price, so
• 33:20
  Speaker 6: it's what you bought it.
• 33:21
  Speaker 5: It's really like two ways. How like in the VC
• 33:23
  Speaker 5: world or in this world, you really make money, right
• 33:26
  Speaker 5: so that a company goes public or a company is
• 33:28
  Speaker 5: purchased Yeah, yeah, I.
• 33:30
  Speaker 6: Mean our purcha by strategic Yeah, so and.
• 33:32
  Speaker 5: So Amazon boys PillPack for a billion dollars not make
• 33:35
  Speaker 5: some money. Or a coin base goes public nots makes money.
• 33:39
  Speaker 6: Yeah, And there's so many company there's so many transactions, man,
• 33:41
  Speaker 6: that are occurring that you would never even know. Or
• 33:43
  Speaker 6: another option is like a private equity firm comes in
• 33:46
  Speaker 6: and they they buy eighty percent of your company. You're
• 33:48
  Speaker 6: still selling to them, right, It's like, but there's so
• 33:50
  Speaker 6: many in those like those transactions often don't get they're
• 33:54
  Speaker 6: not in the press.
• 33:54
  Speaker 4: Right.
• 33:54
  Speaker 6: We hear about the big names and the IPO companies
• 33:57
  Speaker 6: that are doing transactions, but there are businesses. I think
• 33:59
  Speaker 6: it's life for an entrepreneur manager to have a business
• 34:02
  Speaker 6: doing a million a rev, ten million a rev. Whatever
• 34:04
  Speaker 6: the case can be employing people like which is a
• 34:06
  Speaker 6: big you know, kind of like delineating factor, having a
• 34:09
  Speaker 6: decent lifestyle and maybe selling it to another you know,
• 34:11
  Speaker 6: strategic for thirty million dollars whenever you choose to right,
• 34:14
  Speaker 6: I mean that ever make the press, but like that
• 34:17
  Speaker 6: is a notable transaction. And going back to the original point,
• 34:19
  Speaker 6: a middle market banker, a smaller investment bank would do
• 34:21
  Speaker 6: that transaction for you. But they're basically bringing capital to
• 34:25
  Speaker 6: the table. They're from another institution.
• 34:27
  Speaker 2: Okay, Yeah, so you said employing, and so I know
• 34:31
  Speaker 2: that's something that you know that you guys do very
• 34:34
  Speaker 2: This episode is brought to you by P and C Bank.
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  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 36:28
  Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador
• 36:32
  Speaker 1: accused of murdering a Texas. Man of Venezuelan charged with
• 36:36
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 36:40
  Speaker 1: some of the heinous migrant criminals caught because of President
• 36:44
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 36:48
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 36:53
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 36:56
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 37:00
  Speaker 1: if we're here illegally, your next you will be fine
• 37:03
  Speaker 1: nearly one thousand dollars a day, imprisoned and deported, you
• 37:07
  Speaker 1: will never return. But if you register using our CBP
• 37:11
  Speaker 1: home app and leave now, you could be allowed to
• 37:14
  Speaker 1: return legally, do what's right, leave now. Under President Trump
• 37:19
  Speaker 1: America's laws, border and families will.
• 37:22
  Speaker 2: Be protected sponsored by the United States Department of Homeland
• 37:24
  Speaker 2: Security intentionally.
• 37:25
  Speaker 4: Yep. Right, So you hire banker's attorneys.
• 37:28
  Speaker 2: Talk about that process of not only investing in the community,
• 37:31
  Speaker 2: but hiring from the community.
• 37:33
  Speaker 4: Yeah, I'm all about us.
• 37:35
  Speaker 6: So my dentist is blag, my attorney's are black, My
• 37:38
  Speaker 6: state planners are black, my real estate you know, mortgage
• 37:40
  Speaker 6: people are black. Right, Like, I'm very I'm very stern
• 37:44
  Speaker 6: about us as a community, especially notable individuals, right, applying
• 37:49
  Speaker 6: pressure to say that, Hey, if I'm giving you, if
• 37:51
  Speaker 6: I'm working with you or engaging with you, I want
• 37:54
  Speaker 6: to make sure that my coverage person is somebody that
• 37:56
  Speaker 6: looks like me, are somewhat familiar, right, And so like
• 37:58
  Speaker 6: we can't be embarrassed by that, because it's happening for
• 38:00
  Speaker 6: everybody else for sure, right, And so in that respect, Yeah,
• 38:04
  Speaker 6: like I'm tapped in. I have, you know, for people
• 38:06
  Speaker 6: that are coming to the portal, we have you know,
• 38:08
  Speaker 6: black and brown securities attorneys. We have black and brown
• 38:12
  Speaker 6: CPAs that we like to recommend. We have black and
• 38:14
  Speaker 6: brown operations consultants as well, but we try to keep
• 38:19
  Speaker 6: it in house so they extend that we want to
• 38:20
  Speaker 6: at least say that we made an effort to reach
• 38:23
  Speaker 6: out to somebody like us. It doesn't always work that way,
• 38:26
  Speaker 6: Like there are still some needs that I have, but
• 38:28
  Speaker 6: we'll continue. Like we're like the way we're situated is
• 38:31
  Speaker 6: that we're facilitating introductions, that we're facilitating capital. Right, So
• 38:35
  Speaker 6: it's like, Hey, as an entrepreneur, I have this particular need.
• 38:37
  Speaker 6: The first thing when I think about is like who
• 38:39
  Speaker 6: within like the affinity network that I can position?
• 38:42
  Speaker 4: So I see the table.
• 38:43
  Speaker 6: The family is you know thirty to forty people that
• 38:45
  Speaker 6: are industry experts, that are like well worked, resourced individuals,
• 38:49
  Speaker 6: and we literally are bringing entrepreneurs into our ecosystem. Right,
• 38:54
  Speaker 6: Maybe you didn't go maybe a neighborhood dude, you need
• 38:56
  Speaker 6: to go to you know XYZ school, right, and you
• 38:58
  Speaker 6: don't have access to like all these individuals. Like we
• 39:01
  Speaker 6: make sure that regardless of what your background is, that
• 39:03
  Speaker 6: we're actually inserting you into our ecosystems and the network
• 39:06
  Speaker 6: that we have.
• 39:07
  Speaker 4: That was going to be Earns.
• 39:08
  Speaker 2: What's going on this Black History Month? McDonald's is kicking
• 39:11
  Speaker 2: off Future twenty two, a campaign celebrating twenty two gen
• 39:14
  Speaker 2: Z leaders across the country who are making an impact
• 39:17
  Speaker 2: on their communities. Right now, this generation may have the
• 39:21
  Speaker 2: largest influx of young leaders since the Civil Rights Movement.
• 39:24
  Speaker 2: They're starting their own organizations, finding ways to empower youth
• 39:27
  Speaker 2: and culture, standing up and speaking out. McDonald's is showcasing
• 39:31
  Speaker 2: their efforts and the impact they're having on the world.
• 39:34
  Speaker 2: McDonald's isn't just a place that serves great food. Crew
• 39:37
  Speaker 2: members learn basic business skills that can help them throughout life.
• 39:40
  Speaker 2: Cruly leaders like Paricia Hutchison are dedicated to teaching and
• 39:44
  Speaker 2: inspiring others. As a Howard student, she not only tutors
• 39:47
  Speaker 2: kids to help them succeed, she volunteers at shelters to
• 39:50
  Speaker 2: feed the homers and organizations that help the youth. See
• 39:53
  Speaker 2: more stories like hers on Instagram at We Are Golden To.
• 39:56
  Speaker 4: My next point was like, is there a criteria to
• 39:58
  Speaker 4: be on the platform? Right?
• 39:59
  Speaker 2: Maybe I didn't have this background and maybe I'm just
• 40:03
  Speaker 2: started my business, my first business.
• 40:05
  Speaker 4: Is there criteria to be on the plus? Yeah? We
• 40:07
  Speaker 4: are we are we are a bit more. We are
• 40:08
  Speaker 4: not a bit more.
• 40:09
  Speaker 6: We are definitely more patient and friendly in terms of,
• 40:11
  Speaker 6: you know, our process of onboarding companies. So I would like,
• 40:15
  Speaker 6: we are tapped into the community. We are intentionally created
• 40:18
  Speaker 6: for the community.
• 40:19
  Speaker 4: Right.
• 40:19
  Speaker 6: So when I say that, because there are other equity
• 40:21
  Speaker 6: power funding portals that are very stern about seventy thousand
• 40:24
  Speaker 6: dollars in revenue right before you before that you're able
• 40:27
  Speaker 6: to come onto the portal. We don't have revenue minimums,
• 40:30
  Speaker 6: I would say, And there's no education credentials or anything
• 40:33
  Speaker 6: like that that's required.
• 40:35
  Speaker 4: We are process is.
• 40:37
  Speaker 6: That you'll apply, you come on the portal, your create
• 40:38
  Speaker 6: a campaign. It's it's your submit your business plan or
• 40:42
  Speaker 6: your pitch deck. We were viewing internally with our diligency.
• 40:44
  Speaker 6: There's a bunch of interviews back and forth. We circle
• 40:46
  Speaker 6: it up among the family and everybody can kind of
• 40:49
  Speaker 6: like talk about the idea and then it was you know.
• 40:52
  Speaker 4: Assess their interests and then we on board you.
• 40:55
  Speaker 6: But like there's a lot of handholding that does not
• 40:57
  Speaker 6: exist among other portals as well. So to go back
• 41:01
  Speaker 6: to your question, there's no profile requirement.
• 41:04
  Speaker 4: I find that.
• 41:05
  Speaker 6: Companies that are like direct to consumer or e commerce
• 41:08
  Speaker 6: companies perform better in equity crowdfunding more broadly because it
• 41:12
  Speaker 6: allows for that advocacy fact, like not only does it
• 41:15
  Speaker 6: taste good, right, like you should like it, it taste
• 41:18
  Speaker 6: good as well, like.
• 41:18
  Speaker 4: I'm also an owner in it. When it's like, yeah,
• 41:20
  Speaker 4: it was that that shirt you and earn it? Yeah exactly, yeah, yeah.
• 41:23
  Speaker 6: Like when it's B to B, it's like you can't
• 41:25
  Speaker 6: really see it, right, and you can't really mobilize your base.
• 41:27
  Speaker 6: So like if it's an app, I think apps work
• 41:29
  Speaker 6: really well because now you already said, like I got
• 41:30
  Speaker 6: one hundred thousand users, Like the first people you should
• 41:32
  Speaker 6: be asked for capital is your one hundred thousand users, right,
• 41:35
  Speaker 6: But the mindset is, yeah, asked for capital. But really,
• 41:38
  Speaker 6: this is what I think is important for entrepreneurs. Really
• 41:42
  Speaker 6: the stories you are making space for those one hundred
• 41:45
  Speaker 6: thousand users that you have to participate in your growth
• 41:48
  Speaker 6: journey as an entrepreneur, right, And I think that whens
• 41:51
  Speaker 6: up happening in our community is that we get these
• 41:53
  Speaker 6: dope businesses and I'll support any black business. I'll support
• 41:56
  Speaker 6: you without even knowing you, right, Because like I'm all
• 41:58
  Speaker 6: about us, right, And it's like you get these businesses
• 42:00
  Speaker 6: that are coming up and like, you know what, we
• 42:02
  Speaker 6: got to buy that productcause it's black owned, brown owned, right.
• 42:04
  Speaker 6: But I think it's the entrepreneurship possibility to say, like, hey,
• 42:06
  Speaker 6: support me because I'm black and brown and because you
• 42:08
  Speaker 6: know the quality of the product is great. But in return,
• 42:11
  Speaker 6: I'm going to provide space for you to invest. So
• 42:14
  Speaker 6: as my company grows, you could say like, hey, you know,
• 42:16
  Speaker 6: I was doing eight million dollars of revenue ten years
• 42:18
  Speaker 6: ago and now I'm doing eighty million, and you were
• 42:20
  Speaker 6: an investor there. And so when I sell to a
• 42:22
  Speaker 6: strategic or IPO, you are an owner in the space.
• 42:26
  Speaker 6: So it allows entrepreneurs to make space on their captable,
• 42:30
  Speaker 6: to make space in their company for their community, their
• 42:33
  Speaker 6: their family, their friends to be investors, and to like
• 42:35
  Speaker 6: really be in the car with them as they're going
• 42:37
  Speaker 6: down the road. In terms of you know, succeeding as
• 42:39
  Speaker 6: a business.
• 42:40
  Speaker 5: So like, what was the steps that you did to start?
• 42:43
  Speaker 5: I know you had some speaking of funding, you had
• 42:46
  Speaker 5: some like Baron Davis, friend of ours, Ryan from the
• 42:51
  Speaker 5: gathering spots. What were the steps that you took to
• 42:54
  Speaker 5: get seated at the table off the ground in the
• 42:57
  Speaker 5: up and running.
• 42:58
  Speaker 4: So a shout out to to Baron Davis la noble,
• 43:01
  Speaker 4: like a.
• 43:02
  Speaker 6: He's a human, like a normal like normal people man,
• 43:04
  Speaker 6: Like I walked and yeah, I shared the room with
• 43:05
  Speaker 6: many different people. And I think what's important in life, man,
• 43:09
  Speaker 6: is that when you are not in the room, like
• 43:09
  Speaker 6: how people are talking about you.
• 43:11
  Speaker 4: If you said, like, oh I met Pierre, ninety.
• 43:12
  Speaker 6: Nine percent of the time, they're going to say he
• 43:14
  Speaker 6: tried to be helpful to me without asking anything back,
• 43:16
  Speaker 6: and Barness, you know, equally yoked in that respect. No,
• 43:19
  Speaker 6: A couple of other ball players, like it's another guy
• 43:20
  Speaker 6: in Anthony Tolliver's known.
• 43:22
  Speaker 4: Hooper played for a while in the league.
• 43:24
  Speaker 6: And then the other investors are family, are just folks
• 43:27
  Speaker 6: like us, like literally bankers, attorneys. Right that said like, hey,
• 43:31
  Speaker 6: I know there's tons of entrepreneurs out there that want
• 43:33
  Speaker 6: to get access to capital. How can I be of help? Right,
• 43:36
  Speaker 6: So that's what that family looks like. Those are the
• 43:38
  Speaker 6: vest For me. It was me finally making an ask
• 43:42
  Speaker 6: of my network and saying like, hey, this is what
• 43:44
  Speaker 6: we're putting together. I want to make space for you
• 43:48
  Speaker 6: to participate, but also I want to, like, I need
• 43:50
  Speaker 6: to like raise his capital to offset the costs, right,
• 43:52
  Speaker 6: And so people came and they knocked on the door
• 43:55
  Speaker 6: in abundance. I was like I was Humbolt man. It
• 43:58
  Speaker 6: was oversubscribed in both instances where there was capital raise.
• 44:03
  Speaker 6: But it was by virtue of the network that I created, right,
• 44:05
  Speaker 6: and by virtue of like me managing relationships. And so
• 44:08
  Speaker 6: for any entrepreneur, whether you're raising capital or not, like
• 44:11
  Speaker 6: your management relationships, whether it's your vendors or your customers.
• 44:13
  Speaker 6: So I created a very healthy network of just like
• 44:17
  Speaker 6: solid individuals. And then I was fortunate to have people
• 44:20
  Speaker 6: that were aligned to Seeds a mission to come in
• 44:23
  Speaker 6: and you know, to provide capital and to provide insight. Right,
• 44:26
  Speaker 6: So like providing capital in terms of dollars, but I
• 44:29
  Speaker 6: think like network and expertise is just as important, right,
• 44:32
  Speaker 6: And so we created something special.
• 44:34
  Speaker 4: Man.
• 44:34
  Speaker 6: And so when you come and you partner with Seed
• 44:36
  Speaker 6: at the table, it really does feel like you are
• 44:38
  Speaker 6: sitting among family, like the handholding is needed. And it's
• 44:42
  Speaker 6: true because I said, you know, being an entrepreneur is
• 44:45
  Speaker 6: such a lonely part. There's so many things that you
• 44:47
  Speaker 6: don't know, like I didn't know anything about the space
• 44:50
  Speaker 6: right as an entrepreneur, and so like the best way
• 44:52
  Speaker 6: to avoid pitfalls is to ask somebody that I already
• 44:54
  Speaker 6: went through the process right and get to learn from
• 44:56
  Speaker 6: their experience.
• 44:57
  Speaker 4: So that's what the Seed family really serves. That.
• 44:59
  Speaker 6: So they're not just like investors in terms of seed,
• 45:01
  Speaker 6: but they're also the network that is available to every
• 45:04
  Speaker 6: issuing company and available to me I got there.
• 45:05
  Speaker 4: They're my sounding board as well.
• 45:07
  Speaker 5: So navigating the platform from two different perspectives, I must
• 45:11
  Speaker 5: if I'm a business owner, I want to get on
• 45:13
  Speaker 5: your platform, what do I do?
• 45:16
  Speaker 4: All? Right?
• 45:16
  Speaker 5: So I created user name, passport log in, so I
• 45:19
  Speaker 5: have to do like a bio of the company. I
• 45:21
  Speaker 5: have to say, like how much money I'm looking to raise?
• 45:23
  Speaker 4: Exactly? What's what's you have to say?
• 45:25
  Speaker 6: Much money you're looking to raise, whether it's going to
• 45:27
  Speaker 6: be debt or whether it's going to be equity, right,
• 45:28
  Speaker 6: which investment vehicle you're gonna use, whether it's a safe
• 45:31
  Speaker 6: note or a revenue note or whatever the case may be.
• 45:35
  Speaker 6: You have to identify like the industry that the business
• 45:37
  Speaker 6: is in, and then once again it is reviewed by
• 45:39
  Speaker 6: our leadership team and and experts within that space, like
• 45:42
  Speaker 6: we literally have expertise covering any industry right in terms
• 45:46
  Speaker 6: of the family and or I've seen it in terms
• 45:48
  Speaker 6: of the deal flow, the diligence work that I do
• 45:51
  Speaker 6: and my other capacity. So you'll come in, you'll sign up.
• 45:53
  Speaker 6: As I mentioned, it's reviewed. We'll have conversations. You pitch
• 45:58
  Speaker 6: formerly to no family right or to the leadership team
• 46:00
  Speaker 6: within the family, and they'll say that it's a get
• 46:03
  Speaker 6: fit for the portal. So we're not the family is
• 46:06
  Speaker 6: not a gatekeeper. You're not going to say, oh, you're
• 46:07
  Speaker 6: not going to be and so it's hard. It's like
• 46:08
  Speaker 6: we're not going to tell you that you're going to
• 46:09
  Speaker 6: be a viable business or not, Like we're not nobody
• 46:11
  Speaker 6: can do that.
• 46:11
  Speaker 4: Right.
• 46:12
  Speaker 6: What we're really trying to assess is do you understand
• 46:15
  Speaker 6: that it is an active process in turn of raising capital?
• 46:18
  Speaker 6: So are you structured your thought process? Do you have
• 46:21
  Speaker 6: your document your documents in order? Do you have the
• 46:23
  Speaker 6: story in order so you can go out there and
• 46:25
  Speaker 6: successfully raise capital?
• 46:27
  Speaker 4: Right?
• 46:27
  Speaker 6: Because the challenges for many entrepreneurs is that we think
• 46:30
  Speaker 6: it's easy, got the best idea, are not the best
• 46:33
  Speaker 6: business and you should believe in your business, because nobody's
• 46:35
  Speaker 6: gonna believe in your business more than you will, right,
• 46:37
  Speaker 6: but we often are. We're often there's a misconception that
• 46:41
  Speaker 6: you know, I'm gonna go out there and put my
• 46:43
  Speaker 6: name on this portal and people are going to rush
• 46:45
  Speaker 6: and droves. It's raising cab Like, nah, you gotta hand
• 46:48
  Speaker 6: in hand. You got to go out there and literally
• 46:50
  Speaker 6: like you know, uh, talk to folks, raise capital, tell
• 46:53
  Speaker 6: them your story, right and so, and that's what we
• 46:56
  Speaker 6: always whether that's that seed at the table or some
• 46:58
  Speaker 6: of the you know, more kind of notable uh platforms
• 47:00
  Speaker 6: out there, you're literally driving ninety five of the investors right.
• 47:05
  Speaker 6: The portal is literally just legal space right for you
• 47:08
  Speaker 6: to transact for to be documented by the SEC and fener.
• 47:11
  Speaker 6: And so the best way to describe see it at
• 47:13
  Speaker 6: the table versus the competitors, it's like us like throwing
• 47:16
  Speaker 6: a party, right, so everybody have everybody all these portals
• 47:19
  Speaker 6: have ballrooms at the rents.
• 47:20
  Speaker 4: Four seasons or any other kind of venue.
• 47:22
  Speaker 6: Right when you go to we go to WE funders,
• 47:27
  Speaker 6: when you go to their their ballroom, it's going to
• 47:29
  Speaker 6: have more people there because they are like they've been
• 47:31
  Speaker 6: known for a while, but you.
• 47:32
  Speaker 4: Don't really know what the music is going to be.
• 47:34
  Speaker 6: Right when you go to see the table, it may
• 47:36
  Speaker 6: be less, but you know they're gonna be playing nas
• 47:38
  Speaker 6: They're gonna play a little bit of Kendrick right, a
• 47:40
  Speaker 6: little bit of it right. It's like it's like I'm
• 47:42
  Speaker 6: handing you the ox, right, and it's like it's like,
• 47:45
  Speaker 6: you know, the community goose on the yeah, you know,
• 47:47
  Speaker 6: you know, you know, it's literally the communities for us, right,
• 47:49
  Speaker 6: and so, and people are going to be a bit
• 47:51
  Speaker 6: more patient because what ends up happening is that when
• 47:53
  Speaker 6: you do launch, you list on a port on a
• 47:54
  Speaker 6: on a on a platform, you want to make sure
• 47:57
  Speaker 6: the story that you're telling aligns with the audience, right.
• 48:00
  Speaker 6: And so, you know, we are intentional about the people
• 48:02
  Speaker 6: that we start black and round diverse entrepreneurs. We understand
• 48:05
  Speaker 6: that there's a little bit more handholding that is required
• 48:06
  Speaker 6: for that community. The audience and the ecosystem that we
• 48:09
  Speaker 6: surround them with are reflective of that. So so hopefully
• 48:12
  Speaker 6: Aswerr questions, yes, you all, you create a profile, we
• 48:15
  Speaker 6: evaluate you. We're assessing fit more so in terms of
• 48:17
  Speaker 6: your ability to raise capital, not in terms of like
• 48:19
  Speaker 6: this is going to be like a hitter. Is this
• 48:21
  Speaker 6: the ten X returns? It's a betting process. Yeah, it's
• 48:24
  Speaker 6: a betting process. And so then we're submitting the documentation
• 48:27
  Speaker 6: through the SEC for you and Finero for you. And
• 48:30
  Speaker 6: then as an entrepreneur, so once you go and you're
• 48:32
  Speaker 6: raising million dollars or one hundred thousand dollars and there's
• 48:34
  Speaker 6: no investmental you were asking, there's no investment, there's no
• 48:37
  Speaker 6: raised minimum, I should say, right, we typically like to
• 48:39
  Speaker 6: stay above one hundred thousand dollars because it's like it's
• 48:42
  Speaker 6: a lot of time. It's the cost to us, right,
• 48:44
  Speaker 6: A million is like the sweet spot. But what I
• 48:46
  Speaker 6: was getting at is when you're when you're raising capital,
• 48:50
  Speaker 6: when you go through the equity profiting process, which are
• 48:52
  Speaker 6: required as an entrepreneur besides being a good steward of
• 48:54
  Speaker 6: that capital and operating your business, is that you have.
• 48:57
  Speaker 4: To report to your investors once a year for two years.
• 49:00
  Speaker 6: You just have it's your annual investor letter, like this
• 49:02
  Speaker 6: is how the business is operating, this is what you know,
• 49:04
  Speaker 6: what we're doing. You have to do that for two
• 49:06
  Speaker 6: years and that's filed with the SEC. And after that
• 49:08
  Speaker 6: you're done. And so then also excuse me, also as
• 49:10
  Speaker 6: an entrepreneur, you can raise up to five million dollars.
• 49:13
  Speaker 6: But for example, if you raise if you want to
• 49:15
  Speaker 6: kind of get your feet wet and say, like, you
• 49:17
  Speaker 6: know what, let me raise under two fifty. So I'll
• 49:19
  Speaker 6: have to do the expensive audience, right, and just to
• 49:21
  Speaker 6: kind of get a feel for the process. You can
• 49:22
  Speaker 6: do that, and then when in that same year, you
• 49:24
  Speaker 6: can still raise up to another four point seventy five
• 49:27
  Speaker 6: million dollars. So it's five million dollars per year, and
• 49:30
  Speaker 6: our next year you can go back and raise I
• 49:32
  Speaker 6: wouldn't encourage us.
• 49:34
  Speaker 4: You can go back and raise another five million, right.
• 49:36
  Speaker 6: So that's the dynamical the structure of how things are situated,
• 49:40
  Speaker 6: you said, and Charlie said this.
• 49:42
  Speaker 2: He said, it's two ways in this business. Right, you're
• 49:44
  Speaker 2: gonna get bullet. You're going to IPO and we haven't
• 49:48
  Speaker 2: really fled all feel.
• 49:49
  Speaker 4: Filfl to work.
• 49:53
  Speaker 2: It has to work, it has to yeah, right, And
• 49:55
  Speaker 2: so we don't really see many black and brown companies
• 49:58
  Speaker 2: I po yep. And so when you're on brown in an event,
• 50:01
  Speaker 2: are you looking at the company saying yes, this potentially
• 50:04
  Speaker 2: you can sell one day or be bought one day
• 50:06
  Speaker 2: or are you looking at it or in addition to
• 50:09
  Speaker 2: are you looking at like I could see this company
• 50:11
  Speaker 2: IP on one day?
• 50:12
  Speaker 4: Right?
• 50:12
  Speaker 6: Yeah, So I mean nine percent of all businesses in
• 50:16
  Speaker 6: America are small businesses. That means that they're not like
• 50:18
  Speaker 6: public trader, right. Yeah, we're definitely for companies that we
• 50:21
  Speaker 6: believe in. The hitters we were. We understand how hard
• 50:24
  Speaker 6: it is to get to that point, you know, hard like,
• 50:26
  Speaker 6: So we're not saying we're not We're not only and
• 50:28
  Speaker 6: that's always getting We're not only onboarding companies that we
• 50:30
  Speaker 6: think are gonna be hitters, right, We're onboarding companies that
• 50:33
  Speaker 6: are successful. They're providing service to the community, they're providing product.
• 50:38
  Speaker 6: Maybe they have the opportunity to get sold by strategic
• 50:41
  Speaker 6: I think. So what ends up happening is that the
• 50:42
  Speaker 6: investors that come to the portal and invest those are
• 50:44
  Speaker 6: the questions that they have to ask, right. So we're
• 50:46
  Speaker 6: literally we're providing the menu of investments, right, but they
• 50:50
  Speaker 6: have to run diligence on their end in terms of
• 50:51
  Speaker 6: what success looks like. And I really assessed whether it's
• 50:54
  Speaker 6: going to be the next big thing or it's going
• 50:56
  Speaker 6: to be something that I own. That's kind of cool
• 50:57
  Speaker 6: that I own it. I can kind of tell my
• 50:59
  Speaker 6: friends and I own it as well, and hopefully it
• 51:01
  Speaker 6: gets bought out by a.
• 51:02
  Speaker 5: Strategic So is there any scenario where somebody is investing
• 51:09
  Speaker 5: in a company and they can make money if the
• 51:12
  Speaker 5: company isn't purchased or if it doesn't go public, like
• 51:14
  Speaker 5: if the company just still remain private. But yeah, extremely
• 51:17
  Speaker 5: profitable business like dividen Like, yeah, there's any scenario where
• 51:21
  Speaker 5: you can still make money if the company is not
• 51:23
  Speaker 5: purchased or if there's not co public.
• 51:24
  Speaker 4: So twofold, So we.
• 51:25
  Speaker 6: Decided to start a bar bar you know, whether whatever
• 51:28
  Speaker 6: barrow you want to be in New York.
• 51:29
  Speaker 4: But we just started to start a bar in Brooklyn. Right,
• 51:31
  Speaker 4: we're gonna have everybody to go there.
• 51:33
  Speaker 6: As owners, we can say like we're gonna do distributions, right,
• 51:35
  Speaker 6: like you know, monthly distributions based on the revenue. So
• 51:38
  Speaker 6: as an owner, as an as a as a founder,
• 51:40
  Speaker 6: you have that.
• 51:41
  Speaker 4: Ability to do distributions as well.
• 51:43
  Speaker 6: I'll give you a more a better example when you
• 51:46
  Speaker 6: think about like they're really you can do real estate
• 51:47
  Speaker 6: through equity crow moundy as well. You're like you can
• 51:49
  Speaker 6: think about all the people that are in that space,
• 51:51
  Speaker 6: and you guys both know are better than I do. Right.
• 51:52
  Speaker 6: It's like, hey, I want to go buy property outside
• 51:55
  Speaker 6: of Tuskegee, Right, I want to buy a.
• 51:56
  Speaker 4: Thirty million dollars ten million dollars you know, fifty unit
• 52:00
  Speaker 4: it you piece of property.
• 52:01
  Speaker 6: Right now, you can aggregate your friends and say, hey,
• 52:04
  Speaker 6: we're going to buy this structure. We're going to raise
• 52:06
  Speaker 6: but I know that is equity, get the rest in debt,
• 52:08
  Speaker 6: whatever the case may be. We're going to create this
• 52:10
  Speaker 6: entity to get to raise the equity. We're going to
• 52:12
  Speaker 6: buy this property, and so the rent roll right can
• 52:15
  Speaker 6: be sent out as distribution. So yes, you can do
• 52:17
  Speaker 6: that through equity crowdfunding. We're looking at a franchise, like
• 52:20
  Speaker 6: there's a food franchise company that we're a food company
• 52:23
  Speaker 6: that's one that's franchising and they're getting ready to build
• 52:25
  Speaker 6: a new location and there they want to create an
• 52:27
  Speaker 6: LLC or identity that's going to allow them to raise capital, right,
• 52:31
  Speaker 6: and so that entity is going to be a co
• 52:33
  Speaker 6: owner in that food franchise, right, and there's going to
• 52:36
  Speaker 6: be distributions that are paid. So it depends on how
• 52:38
  Speaker 6: you as an entrepreneur, structure your business. It's literally equipment.
• 52:41
  Speaker 4: I came to you. I'm like, hey, I own this bar,
• 52:42
  Speaker 4: all right, Like how do we get paid?
• 52:44
  Speaker 6: Well, we get paid by distributions back to the investors
• 52:47
  Speaker 6: as well.
• 52:48
  Speaker 5: So and then from all right, so we talked about
• 52:50
  Speaker 5: it from a business owner, but from an investor.
• 52:53
  Speaker 4: The process.
• 52:54
  Speaker 5: They go on the website, yep, they create a using
• 52:57
  Speaker 5: any password, they fill out a list of to make
• 53:01
  Speaker 5: sure that they're not hurting themselves by doing stuff that's
• 53:03
  Speaker 5: too risky. I like that if they unlimited, how how
• 53:06
  Speaker 5: many companies they can invest in?
• 53:08
  Speaker 4: Yeah, it's a answer the last question.
• 53:11
  Speaker 6: First, you can invest in many companies that keep people
• 53:14
  Speaker 6: below that threshold based on your income right ten percent
• 53:17
  Speaker 6: of whatever case may be. But the process the reason
• 53:20
  Speaker 6: why I kind of got excited because.
• 53:21
  Speaker 4: I'm just reminded.
• 53:22
  Speaker 6: So when you go to the when you go to
• 53:23
  Speaker 6: any portal, you're going to send you popular, your name,
• 53:25
  Speaker 6: your birthday, They're going to ask you for your social right.
• 53:27
  Speaker 4: And I'm many in our commune like yo, like why
• 53:29
  Speaker 4: do they ask.
• 53:29
  Speaker 6: Me for my social Like camps go on Amazon and
• 53:31
  Speaker 6: go buy like and I was like buying a product
• 53:33
  Speaker 6: on Amazon is different.
• 53:33
  Speaker 4: And the reason why they ask you for your social
• 53:35
  Speaker 4: because they.
• 53:35
  Speaker 6: Are KYC laws like know your client laws right, and
• 53:38
  Speaker 6: moneylaundrink and so forth. Once again, this is a thinra
• 53:40
  Speaker 6: sec government process, right, So we want to make sure
• 53:42
  Speaker 6: that the money is coming from exactly who they're who's
• 53:45
  Speaker 6: supposed to be coming from and it's all in good standing.
• 53:47
  Speaker 6: So they'll ask you for like that demo information. It's
• 53:49
  Speaker 6: all safely secured. And then you go on the portal
• 53:52
  Speaker 6: and you see whatever company that you like. You literally
• 53:54
  Speaker 6: click invest now in a prompt and you want to
• 53:56
  Speaker 6: pay by wire, you want to pay my credit card,
• 53:58
  Speaker 6: you want to mail in a check. And then once
• 54:00
  Speaker 6: you once you submit invest now, you make your payment.
• 54:03
  Speaker 6: Then you receive a document that says you are an
• 54:06
  Speaker 6: owner in the x y Z company. And then obviously
• 54:08
  Speaker 6: that owner receives your information. They required to interface with
• 54:11
  Speaker 6: you for the next two years at least once a year.
• 54:13
  Speaker 6: But you can invest as many companies as you want,
• 54:15
  Speaker 6: just to contingent upon your own balance sheet.
• 54:18
  Speaker 2: Is there a number of companies that you're looking to
• 54:20
  Speaker 2: have a whole each year? Yeah, like a quota like
• 54:23
  Speaker 2: we this is the goal for the year, we want
• 54:25
  Speaker 2: to have this many companies.
• 54:26
  Speaker 4: So the family wanted to have ten, so they had
• 54:28
  Speaker 4: ten this year. Who's the family?
• 54:29
  Speaker 6: So the family is of thirty or forty individual So
• 54:32
  Speaker 6: it's literally the network, right of people or resources that
• 54:36
  Speaker 6: are available to every issuer.
• 54:37
  Speaker 4: Right.
• 54:38
  Speaker 6: So like there's a leadership team of seven like cmos
• 54:40
  Speaker 6: you know, chief onboarding person and so forth. But in
• 54:43
  Speaker 6: terms of the collective network, right, what they want to do,
• 54:46
  Speaker 6: and like I said, it's like what you should think
• 54:47
  Speaker 6: about it?
• 54:48
  Speaker 4: Man.
• 54:49
  Speaker 6: So I'm from I'm from La or Long Beach specifically,
• 54:52
  Speaker 6: my parents, my grandparents came from Texas.
• 54:55
  Speaker 4: Right when it came from Texas.
• 54:56
  Speaker 6: My grandfather was a World War two vat when he
• 54:58
  Speaker 6: came to when he came to Long Beach, they all
• 55:00
  Speaker 6: pass I hold, people from Texas and his community all
• 55:02
  Speaker 6: pass the hat to build a church, right, and so
• 55:05
  Speaker 6: like the family effectively passed the hat to build the church.
• 55:08
  Speaker 6: Seat at the table, right, and it's like a place
• 55:09
  Speaker 6: where we can call home and so forth. So that's
• 55:11
  Speaker 6: what I mean by that. Gotcha? So but no, what
• 55:14
  Speaker 6: was I'm sorry, what was the question that I was
• 55:15
  Speaker 6: going to do? That is the question as far as
• 55:16
  Speaker 6: how many come.
• 55:18
  Speaker 5: Yeah.
• 55:18
  Speaker 6: So the goal was initially to have ten in the
• 55:20
  Speaker 6: first year, and we've accomplished that. In twenty twenty two,
• 55:22
  Speaker 6: we want to have at least twenty. Now with this
• 55:24
  Speaker 6: show and some of the other media that we're starting
• 55:26
  Speaker 6: to do, it's gonna be crazy, right, And so like
• 55:28
  Speaker 6: I said, we are we're we're we're not going to
• 55:30
  Speaker 6: tell people know without reason or wealth for well said,
• 55:33
  Speaker 6: you know, probably it's not the right time. You got
• 55:34
  Speaker 6: to think be a little bit more thoughtful about how
• 55:36
  Speaker 6: you're going to raise your capital. But what we do
• 55:38
  Speaker 6: is that we'll literally hand you to other resources that
• 55:40
  Speaker 6: they get you ready. Right, Like we said, we asked
• 55:42
  Speaker 6: the next question and we take the next step. So
• 55:44
  Speaker 6: to answer your question, we want to have at least
• 55:45
  Speaker 6: twenty companies on the part of twenty twenty two and
• 55:48
  Speaker 6: then you know twenty three are probably twenty to forty. Right,
• 55:51
  Speaker 6: But we don't want to make it like we're like
• 55:53
  Speaker 6: we're focused on value, because we still want to be
• 55:56
  Speaker 6: we want to have the ability to touch every company
• 55:58
  Speaker 6: right to the extent that they want to be like
• 56:00
  Speaker 6: touch and have the support.
• 56:01
  Speaker 4: So like that it's a fair balance with ideally twenty
• 56:04
  Speaker 4: twenty companies for this year.
• 56:05
  Speaker 5: So I just want to ask a question about your
• 56:08
  Speaker 5: day to day job. Yeah, you do venture capital, diligence
• 56:12
  Speaker 5: evaluation or portfolio. Can you just talk like what exactly
• 56:16
  Speaker 5: is that?
• 56:16
  Speaker 4: So?
• 56:17
  Speaker 6: Yeah, So so my day to day is it's pretty
• 56:20
  Speaker 6: cool man a sense that like I'm no longer wearing
• 56:22
  Speaker 6: a student tie.
• 56:22
  Speaker 4: I'm like, hoodie, get to show my tattoos, airbag.
• 56:25
  Speaker 6: I mean like, So, we're going to a digital marketing
• 56:28
  Speaker 6: agency and they have this machine AI like that's been
• 56:31
  Speaker 6: around for nine years, and what it can do is
• 56:33
  Speaker 6: it can forecast revenue growth with ninety percent accuracy. So
• 56:35
  Speaker 6: what it does it it'll latch onto a company's analytics
• 56:37
  Speaker 6: like Google Analytics, Good Email, Shopify and so forth, and
• 56:41
  Speaker 6: it'll say, based on this data, if you invest this
• 56:44
  Speaker 6: dollar amount or this timeframe in digital marketing, it's going
• 56:47
  Speaker 6: to produce ten x and dollar figures right return with
• 56:51
  Speaker 6: once again ninety percent accuracy. So my clients are you
• 56:54
  Speaker 6: know the Carlisles TPGs, you know, you know blackstones of
• 56:59
  Speaker 6: the world, right venture capital names or capital sponsors. And
• 57:02
  Speaker 6: what they do is they come to us and they
• 57:03
  Speaker 6: pay us for the technology and they say, hey, can
• 57:06
  Speaker 6: you evaluate this company that we're going to end up
• 57:09
  Speaker 6: buying our investment in, right, and so we'll come at
• 57:11
  Speaker 6: all I see is dell flow in terms of the
• 57:12
  Speaker 6: companies that are doing a million dollars in revenue that's
• 57:14
  Speaker 6: getting ready to get proper VC money. Our company that's
• 57:17
  Speaker 6: doing one hundred million dollars in revenue that we consume
• 57:19
  Speaker 6: are a billion dollars in revenue. But they'll take that technology.
• 57:21
  Speaker 6: And what it does is that the tech is called Nova.
• 57:24
  Speaker 6: What it does is that it'll de risk an investment.
• 57:26
  Speaker 4: Right.
• 57:26
  Speaker 6: So now it takes the guests work out of like
• 57:28
  Speaker 6: how if we bought this company, how much we have
• 57:30
  Speaker 6: to put into digital marketing?
• 57:31
  Speaker 4: Right?
• 57:32
  Speaker 6: And so what's pretty what's cool about it for entrepreneurs
• 57:34
  Speaker 6: and you know, we make sure that the seed family
• 57:38
  Speaker 6: seed entrepreneurs that coming to the portal, they have access
• 57:40
  Speaker 6: to that technology at.
• 57:41
  Speaker 4: A discount and rate.
• 57:42
  Speaker 6: Of course, what's cool about it is it takes the
• 57:44
  Speaker 6: guest work out of your use of proceed slide. So
• 57:47
  Speaker 6: when you think about like an investment pitch bus, I'm
• 57:48
  Speaker 6: sharing you guys have seen plenty of them. They're typically
• 57:50
  Speaker 6: like ten to fifteen slides. There's always that one slide
• 57:53
  Speaker 6: where it's like use of proceeds, and like the US
• 57:55
  Speaker 6: to proceed slide is like this pie chart's like, hey,
• 57:57
  Speaker 6: I want to raise a million dollars, fifty percent is
• 57:59
  Speaker 6: going to go towards head account, twenty five percent is
• 58:01
  Speaker 6: going to go towards marketing. The other twenty five is
• 58:03
  Speaker 6: like toards some other ancillary calls. That twenty five percent
• 58:05
  Speaker 6: towards marketing is very vague, right, And so with Nova,
• 58:08
  Speaker 6: it literally specifies which digital marketing channels, which subchannels that
• 58:12
  Speaker 6: you're going to run, which time frame, and more importantly,
• 58:15
  Speaker 6: what's the return.
• 58:16
  Speaker 4: Of that investment.
• 58:17
  Speaker 6: So you're raised a million, you're putting two hundred fifty
• 58:18
  Speaker 6: thousand towards digital marketing. NOVA will tell you that if
• 58:21
  Speaker 6: you put the two hundred and fifty thousand that you
• 58:23
  Speaker 6: put into marketing, it's going to return a million dollars,
• 58:25
  Speaker 6: like a four return or two million dollars.
• 58:27
  Speaker 4: Right.
• 58:27
  Speaker 6: So, now you go to your investors and you're trying
• 58:30
  Speaker 6: to raise cap when you're asking them for money, like, hey,
• 58:32
  Speaker 6: so the investor knows that if I cut you a
• 58:34
  Speaker 6: check for one hundred thousand dollars, twenty five percent of
• 58:36
  Speaker 6: that is going towards digital marketing and it's going to
• 58:38
  Speaker 6: result in you know, two hundred thousand dollars or whatever.
• 58:40
  Speaker 6: Do whatever the row ass or the return on adsmen, maybe,
• 58:44
  Speaker 6: so Nova is strong. AI been around for you know,
• 58:47
  Speaker 6: for nine years. So all I do is talk to
• 58:49
  Speaker 6: P and VC investors and literally attaching that technology to
• 58:53
  Speaker 6: their investors their diligence process like they're doing like operations, logistic,
• 58:58
  Speaker 6: financial diligence. They looking through the numbers that we purely
• 59:00
  Speaker 6: coming in and looking at digital marketing diligence. So I
• 59:02
  Speaker 6: don't know, I always like to come varying gifts and
• 59:05
  Speaker 6: we talked about this a little bit earlier, man, But
• 59:07
  Speaker 6: I'm a big fan of the show, a big fan
• 59:09
  Speaker 6: of like the education and the mentoring that you all doing.
• 59:12
  Speaker 6: So what I would like to do, so the technology
• 59:14
  Speaker 6: no potically goes to like twenty to forty thousand, that's
• 59:16
  Speaker 6: what I sell on a day to day basis. What
• 59:18
  Speaker 6: I would like to do is I would like to
• 59:19
  Speaker 6: extend note it's called Noba diligence. I will like to
• 59:22
  Speaker 6: extend a noble diligence audit to one of your your students, right,
• 59:27
  Speaker 6: and you guys can determine what that looks like and
• 59:28
  Speaker 6: maybe you announced the winner.
• 59:30
  Speaker 4: Maybe we go to the gathering spot, we go to
• 59:32
  Speaker 4: hilltop in.
• 59:32
  Speaker 6: La right, but like we announce the winning back once again.
• 59:34
  Speaker 6: It's like you guys are worked with so many entrepreneurs,
• 59:38
  Speaker 6: so you know it's an opportunity for them to get
• 59:41
  Speaker 6: their use of proceeds slide together.
• 59:43
  Speaker 4: Run this technology. If it's like a.
• 59:45
  Speaker 6: B to B company, it can approximate lead leads like
• 59:50
  Speaker 6: the lead lead generation with ninety percent accuracy as well,
• 59:53
  Speaker 6: so it doesn't have to be e commerce D two C.
• 59:55
  Speaker 4: It can also work in the B to B space.
• 59:57
  Speaker 6: But to see the table family would like to cover
• 59:59
  Speaker 6: the costs of one of the nova diligence for one
• 1:00:03
  Speaker 6: of your students.
• 1:00:03
  Speaker 5: So I appreciate that.
• 1:00:05
  Speaker 4: I appreciate that.
• 1:00:06
  Speaker 5: What we'll do with somebody from EO University because you
• 1:00:08
  Speaker 5: have like twelve other people in there, so a lot
• 1:00:10
  Speaker 5: of business owners in India, So we'll find a way
• 1:00:12
  Speaker 5: to kind of see who would be the best fit. Sure,
• 1:00:16
  Speaker 5: and then yeah, well we'll extend that and connected dots
• 1:00:19
  Speaker 5: on it.
• 1:00:19
  Speaker 6: Yeah, and I would say tap in with us seat
• 1:00:21
  Speaker 6: to the table dot com. I'm at seat of the
• 1:00:23
  Speaker 6: table on all social media platforms. You can find me
• 1:00:26
  Speaker 6: on LinkedIn Pierre Leveo, L E, Space v A u X.
• 1:00:29
  Speaker 6: I'm pretty active on there. If people don't know me
• 1:00:32
  Speaker 6: that I'm always like about passing information, passing the balls,
• 1:00:34
  Speaker 6: Like there's some way I can be helpful, even if
• 1:00:37
  Speaker 6: it's not a fit for seating the table. Like, there's
• 1:00:39
  Speaker 6: so many people in the network that I think that
• 1:00:42
  Speaker 6: I just like to see us work together. Right, So
• 1:00:44
  Speaker 6: if there is a company that you know is not
• 1:00:46
  Speaker 6: in a position yet to raise equiprofit, and that's okay.
• 1:00:48
  Speaker 4: There are tons of other resources that I know of.
• 1:00:50
  Speaker 6: For example, the company that worked the nine to five
• 1:00:53
  Speaker 6: Power Digital, we have an accelerator, right that I helped.
• 1:00:56
  Speaker 4: I was instributed on creating.
• 1:00:57
  Speaker 6: We're taking slots, like I've been positioning all my friends
• 1:01:00
  Speaker 6: to get an accelerator, Like you know love takes send
• 1:01:01
  Speaker 6: that to your network. So with that accelerator, what they're
• 1:01:03
  Speaker 6: doing is they're the digital Marketing shop is donating two
• 1:01:07
  Speaker 6: hours of free digital marketing services per month, right, and
• 1:01:11
  Speaker 6: so like now you can talk about your paid search,
• 1:01:13
  Speaker 6: paid media and you can like get.
• 1:01:15
  Speaker 4: The expertise or have access to expertise.
• 1:01:17
  Speaker 6: So we're taking, we're taking participants for that accelerator. There
• 1:01:20
  Speaker 6: are tons of like resources that I've come across and
• 1:01:23
  Speaker 6: then in the network as well, So I want to
• 1:01:25
  Speaker 6: make sure that I continue to be an extension of
• 1:01:27
  Speaker 6: all of you and extension of everybody else that's.
• 1:01:29
  Speaker 4: In your network too.
• 1:01:30
  Speaker 5: I appreciate that. So what's next? What's next? Seed at
• 1:01:33
  Speaker 5: the Table?
• 1:01:34
  Speaker 4: Man.
• 1:01:34
  Speaker 6: We're trying to you know, onboard as many companies as possible,
• 1:01:38
  Speaker 6: help them raise capital. You know, I can't go into
• 1:01:41
  Speaker 6: too much detail in terms of like the financial trajectory
• 1:01:45
  Speaker 6: of the firm, but ideally, you know, we think about
• 1:01:48
  Speaker 6: our premises making space for the community to participate in
• 1:01:51
  Speaker 6: the products that they are consuming. Ideally we will make
• 1:01:54
  Speaker 6: space for the community to participate in you know, the
• 1:01:57
  Speaker 6: economics of seat at the table. So that's definitely forthcoming
• 1:02:00
  Speaker 6: within the next year. When what I mean by that,
• 1:02:01
  Speaker 6: it's like the opportunity for the community to actually invest
• 1:02:04
  Speaker 6: in skate at the table, right, and so like that
• 1:02:06
  Speaker 6: is critical to us. You know, we pride ourselves on
• 1:02:10
  Speaker 6: being communal. It's not about one person. And that's why
• 1:02:12
  Speaker 6: you can hear me say family, family, it is you know,
• 1:02:14
  Speaker 6: it's like it's like like making sure that everybody has space,
• 1:02:17
  Speaker 6: so more users, more investors to come to the portal
• 1:02:20
  Speaker 6: to invest in the amazing companies that we have, right
• 1:02:22
  Speaker 6: but still being diligent about their processes, understanding that they
• 1:02:25
  Speaker 6: can lose money and gotta get educated.
• 1:02:26
  Speaker 4: Always got to give up this slavor.
• 1:02:27
  Speaker 5: Right.
• 1:02:28
  Speaker 6: But also a company is coming to the portal that
• 1:02:31
  Speaker 6: are raising capital and then you know, they raise capital
• 1:02:33
  Speaker 6: and we continue to be helpful to them after the raise. Right,
• 1:02:35
  Speaker 6: So five years from now we can say that we launch,
• 1:02:39
  Speaker 6: or even three years, three or four years, we launch
• 1:02:40
  Speaker 6: one hundred companies and one or two are bangers in
• 1:02:43
  Speaker 6: a sense of like an IPO or maybe they need
• 1:02:45
  Speaker 6: like a like a crazy series A for twenty five
• 1:02:48
  Speaker 6: million or a B for fifty million.
• 1:02:50
  Speaker 4: And I know that I was able to provide a platform.
• 1:02:52
  Speaker 6: We were able to provide a platform where the community
• 1:02:54
  Speaker 6: was able to like participate in that journey.
• 1:02:56
  Speaker 4: Like that is success.
• 1:02:57
  Speaker 6: It's the only black companies blackroun so you know, like
• 1:03:00
  Speaker 6: anything of the diaspora.
• 1:03:01
  Speaker 4: But but that said, we're opening.
• 1:03:03
  Speaker 6: And so I just got an email from a gentleman
• 1:03:04
  Speaker 6: who's like, hey, you know, I'm not a diverse entrepreneur,
• 1:03:07
  Speaker 6: Can I come to the platform, Like, yeah, you definitely can.
• 1:03:09
  Speaker 6: We're open to it. But we are just very intentional
• 1:03:12
  Speaker 6: about making sure that there are space for focuses for
• 1:03:14
  Speaker 6: black and yeah. So we don't like anybody can come
• 1:03:17
  Speaker 6: on the portal, yeah, but the focus to make sure
• 1:03:18
  Speaker 6: that we want the community to know that we exist,
• 1:03:21
  Speaker 6: right and for the in comparison to the other portals
• 1:03:25
  Speaker 6: that are out there, you know, we understand your journey, right,
• 1:03:28
  Speaker 6: we understand your challenge because the ends up happening, man,
• 1:03:30
  Speaker 6: especially with VC, for a lot of the service providers,
• 1:03:32
  Speaker 6: they're like, oh, I want to raise xCE nine dollars.
• 1:03:35
  Speaker 4: They're like, oh, just go ask your friends.
• 1:03:36
  Speaker 6: It's like there's a lot of things that that business
• 1:03:39
  Speaker 6: excuse me, that demo takes for granted, right, that isn't
• 1:03:41
  Speaker 6: really relevant to our community. Right, It's like, oh, like
• 1:03:44
  Speaker 6: legal costs are only fifty thousand dollars, Like that's expensive,
• 1:03:47
  Speaker 6: Like don't I don't have that right now?
• 1:03:48
  Speaker 4: Right?
• 1:03:49
  Speaker 6: And so we're a bit more patient in the sense
• 1:03:51
  Speaker 6: that we understand like how burdens some are expensive that community.
• 1:03:54
  Speaker 6: So we're going to try to provide a resource to
• 1:03:56
  Speaker 6: you that is a little bit more cost friendly, right
• 1:03:58
  Speaker 6: as well, But yeah, anybody can come to the portal.
• 1:04:01
  Speaker 6: We just I think it's important, man. It'd be like,
• 1:04:03
  Speaker 6: you know, intentional about the service that we're providing and
• 1:04:06
  Speaker 6: that the community that we're focused on. And this is
• 1:04:08
  Speaker 6: so what's crazy that this is before all the uprising
• 1:04:10
  Speaker 6: and everything that happened over the past year. So c
• 1:04:13
  Speaker 6: was actually approved by SEC and Fenera in December twenty
• 1:04:16
  Speaker 6: twenty twenty. They didn't go to the public in terms
• 1:04:18
  Speaker 6: of putting companies on the portal to July twenty one.
• 1:04:22
  Speaker 6: So you think about that time frame, there was so
• 1:04:24
  Speaker 6: much money slashing around in terms of like you know,
• 1:04:26
  Speaker 6: guilt money, right in terms of yeah, all these firms
• 1:04:28
  Speaker 6: like you gotta spend money, yeah, yeah, gotta Yeah. It's
• 1:04:31
  Speaker 6: like so the team was like they're anxious, been like
• 1:04:33
  Speaker 6: we should like really get it up, and that's the
• 1:04:34
  Speaker 6: Clubhouse was still kind of popping a little bit, like
• 1:04:36
  Speaker 6: like they're like, oh, we need something for us, like
• 1:04:38
  Speaker 6: a portal for us and support our businesses.
• 1:04:40
  Speaker 4: And we were anxious.
• 1:04:41
  Speaker 6: We wanted to go to go to market, but we
• 1:04:43
  Speaker 6: were very intentional on our end to make sure that
• 1:04:45
  Speaker 6: the user experience flawless is very similar to like working
• 1:04:47
  Speaker 6: like with the Goldman, right in a sense that we
• 1:04:49
  Speaker 6: didn't want to rush the market and have any mishaps
• 1:04:51
  Speaker 6: or any glitches. So we were very patient and and
• 1:04:53
  Speaker 6: want to make sure that everything was in place the
• 1:04:56
  Speaker 6: right way before we.
• 1:04:57
  Speaker 4: Went to market.
• 1:04:58
  Speaker 6: So opening anybody, but we were int to make sure
• 1:05:00
  Speaker 6: that the community knows that we exist.
• 1:05:02
  Speaker 2: Yea, rather than asking for a seat at the table,
• 1:05:05
  Speaker 2: created the table literally and planning the seas yep.
• 1:05:07
  Speaker 6: Literally, that's like that is that is the goal man
• 1:05:10
  Speaker 6: and the name resident randomly. I mean, you know, I
• 1:05:13
  Speaker 6: appreciate the album, like the or the song, but like
• 1:05:15
  Speaker 6: the name resonate, like we literally don't have any seat
• 1:05:17
  Speaker 6: at the table. And so when I was a banker
• 1:05:19
  Speaker 6: in New York, I used to see so much, like
• 1:05:20
  Speaker 6: I said, I used to see so much deal flow
• 1:05:21
  Speaker 6: and so many opportunities to generate.
• 1:05:23
  Speaker 4: Well, but I was the only dude in the room, right,
• 1:05:25
  Speaker 4: and I didn't always have a.
• 1:05:26
  Speaker 6: Bag enough to participate, right, But like I knew so
• 1:05:28
  Speaker 6: many people that could, and I felt I.
• 1:05:31
  Speaker 4: Was just frustrated by it.
• 1:05:32
  Speaker 6: And I think that you know, now we're in a
• 1:05:33
  Speaker 6: position that continue to ask you know institutional excuse me,
• 1:05:37
  Speaker 6: ask the institutions for calvil. You can go that route,
• 1:05:40
  Speaker 6: you should, right or at least consider it. But now
• 1:05:42
  Speaker 6: be mindful of the fact that you can literally raise
• 1:05:44
  Speaker 6: among your own community, right, and like that's like that's
• 1:05:47
  Speaker 6: exciting to me, right to create something and allow space
• 1:05:51
  Speaker 6: for your community to be involved in, but also to
• 1:05:54
  Speaker 6: allow along those lines to allow them to like really
• 1:05:56
  Speaker 6: participate in the growth journey, right, and like to really
• 1:05:59
  Speaker 6: be an owner and something. So everybody doesn't have twenty
• 1:06:01
  Speaker 6: five thousand dollars to make that minimum friends and family investment.
• 1:06:04
  Speaker 6: You may have a thousand, right or you gonna you know,
• 1:06:07
  Speaker 6: you can you can kind of accumulate it from a
• 1:06:09
  Speaker 6: volume perspective as opposed to just being one person or
• 1:06:12
  Speaker 6: cutting one check.
• 1:06:13
  Speaker 4: That's dope.
• 1:06:14
  Speaker 5: So I encourage everybody at least just to check it
• 1:06:17
  Speaker 5: out for educational purposes. Go on the website, look, read,
• 1:06:20
  Speaker 5: do get due diligence. You might say, okay, this this
• 1:06:22
  Speaker 5: is a sports company. I find it's interesting. I find
• 1:06:24
  Speaker 5: you know, this is a company that's specialized in how
• 1:06:27
  Speaker 5: to you know, bring farming to the new age technology.
• 1:06:30
  Speaker 5: You know, it's a good education Because I'm as soon,
• 1:06:32
  Speaker 5: like they have bios you can actually.
• 1:06:33
  Speaker 6: Read and you interface with them and everything. It's all
• 1:06:35
  Speaker 6: like all so the pump, the comments have to be
• 1:06:37
  Speaker 6: public sec can so like and I encourage you to
• 1:06:40
  Speaker 6: go on you know, talk to the companies, ask them
• 1:06:42
  Speaker 6: what their exit plan is, right and like I like
• 1:06:45
  Speaker 6: ask us like get up to speed, educate Like you
• 1:06:47
  Speaker 6: guys are all big about education, Like educate yourself. And
• 1:06:49
  Speaker 6: you have the ability to interface on the portal as well. Yeah,
• 1:06:53
  Speaker 6: go there and learn reach out to us. We are
• 1:06:55
  Speaker 6: we continue to look for companies to onboard as well. Right,
• 1:06:59
  Speaker 6: you know, I'm would never be overwhelmed by by the
• 1:07:01
  Speaker 6: amount of companies that reach out to us, because at
• 1:07:03
  Speaker 6: the end of the day, even if they are not
• 1:07:04
  Speaker 6: a fit for us, again, you know, we're happy to
• 1:07:06
  Speaker 6: hand them off to somebody else that we think is
• 1:07:08
  Speaker 6: as another.
• 1:07:09
  Speaker 4: As a better fit.
• 1:07:10
  Speaker 6: So please continue to you know, keep us in mind
• 1:07:12
  Speaker 6: when you know that when that person is asking you,
• 1:07:14
  Speaker 6: like when your friend is asking to raise capital, say hey,
• 1:07:16
  Speaker 6: have you ever thought about raising through sea at the table?
• 1:07:19
  Speaker 6: And it's a great resources session for people that get
• 1:07:21
  Speaker 6: hit up all the time in terms of being investors,
• 1:07:23
  Speaker 6: Like now you have a platform where you can raise
• 1:07:25
  Speaker 6: a word, entrepreneurs.
• 1:07:27
  Speaker 4: Can raise among their community, their friend networks and so forth.
• 1:07:30
  Speaker 5: Appreciate it. Brother, can you tell them again.
• 1:07:32
  Speaker 6: Like the West, Yeah, man, Www dot C at the
• 1:07:36
  Speaker 6: table dot com. It's a seed S E E d
• 1:07:40
  Speaker 6: on I G LinkedIn. It's at seed at the table.
• 1:07:44
  Speaker 6: You know you can email us email us at info
• 1:07:47
  Speaker 6: at sea to the table dot com. Uh, you know,
• 1:07:49
  Speaker 6: I see all the emails. The team sees all the emails,
• 1:07:52
  Speaker 6: but tap in with us.
• 1:07:53
  Speaker 4: Man. We are we are among the community.
• 1:07:54
  Speaker 6: You know, we are everywhere in terms of the family,
• 1:07:56
  Speaker 6: like you know, you know, we're we're here to be
• 1:07:59
  Speaker 6: a resource and I and that's one thing.
• 1:08:00
  Speaker 4: And like I'm glad you know we're talking about this
• 1:08:02
  Speaker 4: out a lot.
• 1:08:02
  Speaker 6: We're trying to do more media right because we've been
• 1:08:04
  Speaker 6: like very stealth bone and turns like you know, black
• 1:08:06
  Speaker 6: posts work really hard, work really hard, and I'm show
• 1:08:08
  Speaker 6: them in the end right now, or you know, making
• 1:08:10
  Speaker 6: sure that we kind of show them now because it's
• 1:08:11
  Speaker 6: important for us the community to know about us as
• 1:08:13
  Speaker 6: opposed to one the competitors.
• 1:08:14
  Speaker 4: Like had I known how to work with Sea at
• 1:08:16
  Speaker 4: the Table. Yeah, see the table dot com at seats the.
• 1:08:19
  Speaker 6: Table in all you know forms of social media. Please
• 1:08:22
  Speaker 6: email us if you have any questions. Want to get
• 1:08:24
  Speaker 6: up to speed. I want to learn a couple of things,
• 1:08:26
  Speaker 6: and you know, do your research, you know, understand the
• 1:08:29
  Speaker 6: risk of equity cloud funding, and just you know, make
• 1:08:31
  Speaker 6: sure when you're talking to entrepreneurs you always.
• 1:08:32
  Speaker 4: Ask, like what is the exit opportunity? Appreciate it.
• 1:08:35
  Speaker 2: But I got a good feeling that those emails are
• 1:08:38
  Speaker 2: gonna yeah after this, Yeah.
• 1:08:39
  Speaker 6: I love it, man Like, I don't say that, Like
• 1:08:42
  Speaker 6: I said, even if it's not a fit. Man Like,
• 1:08:43
  Speaker 6: there's like there are other either donation based cloud funding
• 1:08:46
  Speaker 6: portals or like incubators that I think are worth you
• 1:08:50
  Speaker 6: know the conversation. Right, So, and there are tons like
• 1:08:53
  Speaker 6: even like positioning firms to work with, you know, giving
• 1:08:56
  Speaker 6: them access to besides the one that we were sponsoring for.
• 1:08:59
  Speaker 4: You guys like them access to Nova. Right.
• 1:09:01
  Speaker 6: It's like when man, when I was in banker at Goldman,
• 1:09:03
  Speaker 6: like they let me in the shop. I used to
• 1:09:04
  Speaker 6: always try to quoe uquote hook people up and put
• 1:09:07
  Speaker 6: them in like to conferences that they part historically wouldn't
• 1:09:09
  Speaker 6: been able to be in our rooms.
• 1:09:10
  Speaker 4: That the historical wouldn't been able to be in.
• 1:09:11
  Speaker 6: That's the same way like I navigate see at the table,
• 1:09:13
  Speaker 6: that's the same way I navigate.
• 1:09:15
  Speaker 4: You know, nova technology, Like.
• 1:09:16
  Speaker 6: If I can be helpful and I know that, you
• 1:09:19
  Speaker 6: know it's going to add value to somebody else, like
• 1:09:21
  Speaker 6: and I know that the person I'm giving it to
• 1:09:22
  Speaker 6: is gonna be responsible and it's not gonna be a waste.
• 1:09:24
  Speaker 4: I'm gonna plug you for sure. Man. So shout out
• 1:09:26
  Speaker 4: to the family. Yeah, shout out to the family.
• 1:09:28
  Speaker 2: So like a mafia, right, It's like, Yo, it's almost
• 1:09:31
  Speaker 2: like a syndic Yeah, shout out to the family.
• 1:09:33
  Speaker 4: Shout out to all the ernest on Eyo University. I
• 1:09:35
  Speaker 4: know we love y'all.
• 1:09:36
  Speaker 2: It's over twelve thousand members there, so I definitely I'm
• 1:09:38
  Speaker 2: sure they're gonna check theirself.
• 1:09:40
  Speaker 4: And I shout out to the entire merch team.
• 1:09:41
  Speaker 2: Obviously, you see, we got some some fripful ourselves might
• 1:09:45
  Speaker 2: be who's been hooking us up with that We got
• 1:09:46
  Speaker 2: some some real cool stuff coming and uh yeah, man,
• 1:09:49
  Speaker 2: love is love.
• 1:09:49
  Speaker 4: Thank you for all the support. Man. We'll be back
• 1:09:51
  Speaker 4: with y'all next week.
• 1:09:52
  Speaker 6: Gradulate you both on what you've accomplished and like I said,
• 1:09:55
  Speaker 6: we we we we've come across each other and we
• 1:09:58
  Speaker 6: like shared similar spaces. But what I mentioned what's important
• 1:10:02
  Speaker 6: is like what people say outside of you, right, and
• 1:10:04
  Speaker 6: it's like obviously you're doing this, but like at the
• 1:10:05
  Speaker 6: same time people are like other good dudes. It's like humans. Right,
• 1:10:08
  Speaker 6: It's like like that's like that's capital, that's welcomed me now.
• 1:10:11
  Speaker 4: Like I saw that.
• 1:10:12
  Speaker 6: I saw a form of aspect of the bag when
• 1:10:14
  Speaker 6: I was working on washing, like I got little ones. Man,
• 1:10:16
  Speaker 6: it's all about that legacy. Like you know, I want
• 1:10:18
  Speaker 6: somebody to pull up on my son and my daughter like, yo,
• 1:10:19
  Speaker 6: I need your dad. He was he did X y
• 1:10:21
  Speaker 6: Z and didn't ask in the back man. So tend
• 1:10:23
  Speaker 6: my hat to what you guys are accomplished and actually
• 1:10:25
  Speaker 6: what's in store. So definitely want to make sure I'm
• 1:10:27
  Speaker 6: tapping into Yeah.
• 1:10:29
  Speaker 2: Shout out to my man lou Tucker once again, Lewis Lewis,
• 1:10:32
  Speaker 2: Nice Eli, l Lewis, Thank you.
• 1:10:35
  Speaker 5: Guys for rock West. Will see you next week.
• 1:10:36
  Speaker 3: Peace, peace, my graduates from my school being forced bad
• 1:10:43
  Speaker 3: drop drop drop drop drop.
• 1:10:58
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