Latest / AI for Founders with Ryan Estes / Future of privacy-first computer vision in security tech
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- 0:00What's up founders? So I'm brighter today I got a
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- 0:32It's, it's packed full of news of tools, summaries.
- 0:36It's, it's amazing. We do a prompt of the week,
- 0:38although I feel like I phoned in the prompt of the week this week
- 0:41'cause it was just now do what I said the first time, because
- 0:46sometimes that prompt works. Anyway, welcome back to AI for
- 0:50Founders. Today we've got a powerhouse
- 0:53guest, Galvin Wijaja, founder and CEO of Loretta dot IO.
- 0:58Galvin took lessons from running restaurants in Singapore and
- 1:01flipped them into building 1 of the world's most trusted privacy
- 1:04first AI companies, working with clients like the US Department
- 1:08of Homeland Security, TSA, and the Air Force.
- 1:11In this episode, you'll learn how Loretta is redefining
- 1:14computer vision, moving away from surveillance toward real
- 1:17time understanding of human behavior.
- 1:19We'll dive into how to scale AI products that governments
- 1:22actually trust, the tightrope between privacy and security,
- 1:26and how empathy and resilience shape great companies.
- 1:29If you're a founder building an AI, SAS or security tech, this
- 1:34one's going to light up your brain.
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- 3:35Hey, I I take the flight in the globe with me on Brian.
- 3:45All right, we're rolling. Galvin, How are you?
- 3:48Welcome to the show. I it's great to be here.
- 3:52Yeah. Appreciate you inviting me over.
- 3:57It is my pleasure. Now give us a quick introduction
- 4:00and overview of your company, Loretta IO.
- 4:03So, yeah, so Loretta IO is a computer vision company that
- 4:09started around along this path in 2019, seeing the first
- 4:15Transformers in the wild and seeing an infinitely scalable
- 4:19network of computer vision. And what we wanted to do was to
- 4:23build a system that could describe and understand the
- 4:28physical world through the lens of humans.
- 4:32And So what our system does is we identify human behaviour and
- 4:37intent and we use that to track people in retail and security
- 4:41settings. Amazing.
- 4:44So is this to prevent shrink or what's the application?
- 4:47So in the retail setting, a lot of what we do is with shopping
- 4:51malls to do leasing and marketing.
- 4:53So kind of closing the Omni channel loop is what they used
- 4:57to call it, which essentially means I see an advertisement, I
- 5:00buy a product, make sure that the people see the
- 5:03advertisements, buy the product. And in security, then it's a bit
- 5:07wider than that. So when security, we work with
- 5:11TSA and Homeland Security and special operations company
- 5:15countries in a couple of countries.
- 5:16And essentially what we do is we anticipate people with malicious
- 5:22behaviour so that we can look out for them and kind of get
- 5:26them a kind of AT -1 identifier of when something is about to
- 5:31happen. Unbelievable.
- 5:34OK, so the the the the business model is is built for security
- 5:39and retail as far as like reducing shrink, reducing theft,
- 5:42reducing any kind of crime intention.
- 5:45The the the purpose is to like stop problems before they.
- 5:48Start That's exactly right. And I think the way that we
- 5:51think about it is hundreds of AI solutions that can detect a
- 5:56crime happening in a real time. And can you build build the
- 6:01system that can detect the crime about to happen a minute or two
- 6:05beforehand? Because that changes the
- 6:08narrative, both for there would be criminal but also for the
- 6:11security people involved. Amazing.
- 6:16OK, I could see that this is high need high demand.
- 6:21Talk to me about the technology and exactly what AI and what a
- 6:25is role is playing with AI vision.
- 6:27Yeah. So this, I think this is a very
- 6:30important thing to understand and I think it's also the the
- 6:36driver of how this business has lasted for so long.
- 6:39So in 2017, 1819 when we kind of initially incorporated, there
- 6:44were about a dozen computer vision companies in Singapore.
- 6:48They were all AI4, XY and Z. And currently we are one of two
- 6:53that are still alive and the other 10 have disappeared.
- 6:56And well, the reasons for that is the way that we taught about
- 7:03computer vision, right? So there are a lot of AI
- 7:07solutions out there, which I kind of call TIN AI by TIN AII
- 7:14mean the product itself is the output of the algorithm.
- 7:19So the algorithm detects fight. It has fight detection AI and
- 7:23great. And the thing about site
- 7:25detection AI that we saw then as a practitioner, but has become
- 7:30more and more true every year, is all of the work that you have
- 7:35done to make your AI 5% better than open source and gather your
- 7:38data set that is 5% better than the public data set.
- 7:42All of that improvement was completely superseded by the
- 7:48thing that is GPT or the future model or the new AI model, so
- 7:53that a person coming in two years later with none of your
- 7:58information and data and background could build a system
- 8:02that is comparable to the system that you build.
- 8:04And so instead what we did was we believe that to build a
- 8:09sustainable business, the AI has to be a foundational component.
- 8:13And So what is the technology behind Loretta?
- 8:17It is not that we detect anything better than you, it's
- 8:21that we first re identify. So that is to track a person in
- 8:26one camera is the same person as is in the other camera, non
- 8:30biometrically, which means I see you from the back.
- 8:33If I see your pants, I can you turn around and see your shirt
- 8:36and say this is the pants of the, this is the shirt of the
- 8:39guy who was wearing that pants previously.
- 8:41And so by doing that, we take that as step one, Step 2, We
- 8:45take that and build it into what we call an entity model, which
- 8:48is in a building with 300,000 people.
- 8:51We have 300,000 end to end narratives of a journey.
- 8:56So 300,000 people taking a journey through a building.
- 9:01And so we take that journey and then we use AI to augment that
- 9:06journey with more and more data on your behaviours and think
- 9:09that you do and think that you shop that please how they shop
- 9:11that because they looked at the people they'll be they are with.
- 9:15And then we build our services on top of that data.
- 9:18By doing that, we've decide we, what we know is 2 years ago we
- 9:23have the best Reid or tracking system.
- 9:26Maybe 2 years, maybe five years later, they'll be that system
- 9:30will become widely available. But if a person comes in then
- 9:34with that system, they don't have this, the information and
- 9:38the knowledge built on top of that that could not have existed
- 9:42if you didn't have the system earlier, right.
- 9:44So that's kind of the way that we have looked at things.
- 9:48Incredible and he he said when was the company founded the.
- 9:52Company founded in 2017 as a full service.
- 9:56That IoT business became a full of pureplay AI business in 2019.
- 10:03Well, amazing now in that we're 2025 now.
- 10:07When does when does the timeline for Minority Report kick in?
- 10:12So as the company who has investors who think about stuff
- 10:20like that, I cannot give you too much detail about it.
- 10:23But one of the things that I can tell you is that we built the
- 10:31company with this philosophy that even there are 5-6 years
- 10:35ago, we thought like, OK, everybody's going to turn us
- 10:38into the Minority Report company.
- 10:40We kind of have all the capabilities to do exactly that.
- 10:43The only thing we don't have is the tree blue ladies floating in
- 10:46the water and the bag. We only have one lady so far.
- 10:49We need to get another two. But essentially what we decided
- 10:54was you can, if we our company succeeds, it will decide how
- 11:02surveillance is done, or at least how much surveillance the
- 11:08world is going to accept, right. And so we built a solution that
- 11:13is end to end 100% non biometric, that is to say is
- 11:19built in such a way that until you cross the same line that you
- 11:24already crossed, if you're a criminal, and then the police
- 11:27can take action against you. If you don't cross that line, we
- 11:31will give the government or the police force no more data than
- 11:36they already have. Another words.
- 11:38Everything about you gets removed until the moment you are
- 11:42a criminal. OK, maybe once you have crossed
- 11:44that line, maybe your experience will be way different, right,
- 11:48Right before that the for the rest of us, let's do nothing.
- 11:53And I think that that was a very important decision that we made.
- 11:57It was a decision that we made that made us lose battle for
- 12:02contracts throughout every single year.
- 12:05But I think over the long period will allow us to win the war.
- 12:08That is kind of major narrative behind that.
- 12:13Yeah, how long do you keep the data?
- 12:1624 hours. Really.
- 12:18So it's quick. Yeah.
- 12:21You know, it's interesting. It reminds me a couple of
- 12:23things. Minority Report I I is low
- 12:25hanging fruit. Of course people don't know it's
- 12:27a movie that takes place in 2054.
- 12:30So it could be spot on where they're able to have what was it
- 12:34called Precog, where the the cops would know you're going to
- 12:38create a do a crime before you do and they'd arrest you first.
- 12:42Also reminds me of a great Radiolab podcast episode where
- 12:46they talked about I think it was I believe in Fallujah where they
- 12:50just basically flew drones 30,000 feet above the whole city
- 12:54and just took video of everything.
- 12:57So then what what could happen is now essentially you have a
- 12:59time machine that can go back in time.
- 13:02So if you see, for example, like if there's a, you know, a
- 13:05roadside bomb that goes off, well, they just start rolling
- 13:08back the camera so they can see, OK, last night we see characters
- 13:13that put the that planted the bomb in the road.
- 13:16And then you go back further and you say, oh, OK, they're at this
- 13:19house and they met with these four people.
- 13:21And then you can start to then you speed up the camera to be
- 13:24like, OK, well, where did they go afterwards?
- 13:27And they can start tracing them down, you know, so when we're,
- 13:30and, and, and this is like fascinating stuff, but it
- 13:33really, really creeped people out.
- 13:36Like they, they decided that they're like, I don't think we
- 13:38want, you know, this kind of fidelity.
- 13:41It, it could be a, an intrusion of privacy.
- 13:44So when you're, you're thinking about that, how, how do you see
- 13:48like the, the, I don't know, the, the temperature of public
- 13:53opinion to kind of embrace some of these, you know, a little bit
- 13:57more intense AI driven surveillance techniques.
- 14:02It's. Such a difficult question
- 14:05because the problem with these systems is that you only need to
- 14:12have a few inroads and then it gets normalized.
- 14:16And then essentially you can, you can change public opinion
- 14:21one step at a time, kind of like how Uber made everybody
- 14:25comfortable in walking into entering people's cars over the
- 14:28last 20 years, right? And so there are always
- 14:33locations that are willing to do this.
- 14:38Now, living in Texas, where I Live Today, I live about half an
- 14:43hour, half an hour away from the only, I'm not going to tell you
- 14:47the name of it because I don't want people to go with this, but
- 14:49the only school district which allows teachers to open carry.
- 15:00OK, Texas is wild. And I also, I also know one of
- 15:10the security people who have like, we also admit that at
- 15:12least nine of those ten teachers are going to panic if there's
- 15:15actually going to be a need to use that gun.
- 15:17And they're going to like, probably like shoot themselves
- 15:19to the foot. Like there's no way that this is
- 15:21a great idea. But there are always pockets of
- 15:25sentiment that will normalize these things.
- 15:28And then you have to make a decision how to move forward
- 15:30with it. And the way I think the the way
- 15:34that we've seen it is that for better or for worse, it is
- 15:38getting normalized. And the part that I'm far more
- 15:42frightened about, it's less about the surveillance because I
- 15:46see surveillance or the information coming into the
- 15:50network of these things of like knowing behaviours or things
- 15:54that are happening in the space as often being a net benefit.
- 15:59And the reason for that is whenever a police officer stops
- 16:03a vehicle, and if you are driving this, this has happened
- 16:06to all of us, right? Police, the officer has stopped
- 16:08the vehicle. And if you take 100% of what
- 16:12they have in their mind is stopping you, I would probably
- 16:15say it's like 20% what they saw, 5060% their preconceived
- 16:21notions, which are where things like stereotypes and biases.
- 16:25And this is the place that I am working on today and 20% how
- 16:30they feel today that this is kind of what's making up this
- 16:33100% desktop tube, right. And as the amount that you
- 16:39provide to them increases that 10% of the edge, which is the
- 16:43objective truth, expands and removes the space for your
- 16:48stereotypes and these things to come in, right.
- 16:52It is more like the framework in the mind of the investigator who
- 16:56is deciding whether you're innocent or guilty versus the
- 16:58person who stopped in the street.
- 16:59That that's kind of the way I think about it.
- 17:01The thing that is far more frightening to me is where AI is
- 17:04making decisions. And that is the part where yes,
- 17:10maybe there is pre caught here data that might be available in
- 17:15certain parts of the world, probably not in the US, probably
- 17:19not today, but in certain parts of the world, yes.
- 17:22All the things that you saw with the drones flying over, this is
- 17:26something that we have been doing all over the world outside
- 17:29the US for ages, right? The satellites in the sky and
- 17:34you saw images of like, OK, if you think of like in our era, if
- 17:38you look at like the WMD narrative in the Iraqi before
- 17:42the prior Iraqi war, you they showed the satellite images that
- 17:45said like this is what I saw this tank, this tanker is
- 17:49probably driving a bomb, etcetera, etcetera.
- 17:51Well, we do know now that it's not true, but there was the data
- 17:54was being captured, right. And so we know that that's
- 17:57there. The question is, how are we
- 17:59making decisions about it? And the question is, do we
- 18:04become good at making decisions about it faster than we give the
- 18:08decision making to the algorithms?
- 18:10And I am not that comfortable right now giving decisions to
- 18:15the algorithms. Like, I think that there are
- 18:18ways to squeeze the hallucinations, but there are no
- 18:21ways to eliminate them. And sometimes people's lives are
- 18:25at stake with these decisions, right?
- 18:26And I'm not quite sure whether we are ready for that yet.
- 18:30And that might be the concern that folks have, particularly
- 18:33with AI it because we've all accepted if you're going to the
- 18:35mall, you going to the airport, you know, you're on camera, you
- 18:38already know that, you know, we're going into an age now
- 18:41where all of our glasses will be wearables that will have will be
- 18:44recording everything. Everything will be recorded
- 18:47everywhere, all times. We're walking into that kind of
- 18:50reluctantly, but the benefits are, are so great that it, it's
- 18:54just a matter of adoption, you know, But perhaps what people
- 18:57are upset about is if you're talking about bias, if you're
- 19:00talking about bias with the police force, you're talking
- 19:02about bias with security, you're talking about stereotypes,
- 19:05you're talking about, you know, basically you're talking about
- 19:09like prejudice against a minority, you know, and the, the
- 19:14problem, I guess is, is that AI from, you know, its inception.
- 19:18I'm not even say AI. I'm going to say once GPT really
- 19:21started getting rolling in 2022, then people are like, dude,
- 19:25these, this machine is insanely biased.
- 19:27You know, like in the beginning, if for example, they were, they
- 19:31were, if you put in a ask for a picture of the founding fathers,
- 19:34they'd be like black guys, you know, so, so people are probably
- 19:39a little bit worried about what's the bias innately built
- 19:42into the AI? What's the training they're
- 19:44receiving? You know, so maybe you can speak
- 19:47to that a little bit. Like how how do you fish out the
- 19:50bias in the machine? Now, you and I know startups are
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- 22:01So I, I am of the belief, and this is something that is not
- 22:06consistent throughout the kind of AI predictionable my, I am of
- 22:11the belief that you cannot remove buyers from the machine.
- 22:17So one of the reasons why I like to come on these public
- 22:22platforms to talk about this noun is that today, if you, for
- 22:28example, type Darth Vader into like check GPT, right?
- 22:32Like, sorry Disney for using your example, but if you you put
- 22:37Darth Vader's GPT, what is happening is that you will first
- 22:41generate a Darth Vader like like outcome.
- 22:44And then it will that there was this like thin layer of
- 22:48censorship over the top that says, oh, this is a copyright
- 22:51property and it gets removed, right?
- 22:53And so if you say something like long clay, dark cloak, mask
- 22:59wearing, space magician with a lightning sword, suddenly you
- 23:04get something a lot like Darth Vader, right?
- 23:07So you have bypassed the censorship.
- 23:09But clearly that image was in that mind, right?
- 23:13And so now what you're doing is you have to build it and you
- 23:16don't know how to get rid of it. Now you have to build a sensor
- 23:18layer over the top, right? That's kind of what's happening.
- 23:21I think that at least in the physical world, that data
- 23:25doesn't that whole data block, the pile of people in the AI
- 23:29space will know, the pile of common crowd.
- 23:33These are the large public data sets that are the base of a lot
- 23:36of the GPT models. They don't exist yet.
- 23:40And to me, you have to get rid of all the ethnicity data, all
- 23:44the biometric data before it goes in, or else you will always
- 23:50be finding ways to get rid of it.
- 23:52One of the important things to remember is that even if the
- 23:55system is designed to be objective to today, what you are
- 23:59also doing is you're freezing the state of stereotypes and
- 24:04bias to today, the day the data set was first generated, right?
- 24:09So if let's say we have one people group hypothetically that
- 24:16came into the US maybe at a later stage or still finding
- 24:19their way, right? Maybe in 10 years time outside
- 24:25AI, they have found their way, they are now 100% equivalent and
- 24:29so on and so forth. But the AI was trained today.
- 24:34And so the bias is designed in this moment in time and this
- 24:39moment in time. And we know looking back at
- 24:42history that every time we look 20 years into the past, we're
- 24:45like, what were those people thinking, right?
- 24:47And so we don't want, we don't want the entire future to be
- 24:51looking back at 2025 and thinking about us as like the
- 24:55morals who not only were like this, but also froze our
- 24:59perceptions into our systems, right?
- 25:02And so this is kind of, this is the only way I think, I don't
- 25:05think you can ever remove the system because it's pattern
- 25:09magic, right? And so stereotypes are also a
- 25:11pattern matching system. And so the same logic that makes
- 25:14it complete sentences, it's the same logic that makes it think
- 25:17that way about the people as it does today.
- 25:21Yeah, there's something unsettling about that, but it's
- 25:23so common. You know, it's obviously it's
- 25:26horrible when it, if it comes out in like racist ways, but
- 25:29like it, it comes out in, in productive ways all the time.
- 25:32Particularly I'm thinking like if I was a head of security for
- 25:36like a major retailer. You know, I, I just looked it up
- 25:39real quick and 30% of shrink from retail comes from employee
- 25:44theft, you know, so that's just data.
- 25:47So that's not saying that's a bias against your own staff when
- 25:51you know, a vast majority. And that 30% is really half,
- 25:54because it also says that the other 30%, another 30% is
- 25:58basically administrative mistakes.
- 26:01You know, so you have basically of all the people stealing stuff
- 26:04in your store, half of them are employees.
- 26:07So, and we're also accustomed to this.
- 26:09You see oftentimes that the cameras are actually on the cash
- 26:12registers. It's not following people
- 26:14around, you know, now there's no date on this, but anecdotally, I
- 26:19would say a good percentage of outside theft is coming from
- 26:22teenage girls. Like, I mean, I remember in high
- 26:25school the the all the sweet, innocent teenage girls I met
- 26:30were like absolute kleptomaniacs, you know, so and
- 26:34so I would have liked if I'm. Had a gift?
- 26:39At some point, I'm head of security and a group of teenage
- 26:42girls comes in. I want the, I want all the like
- 26:45alarms going off and going crazy to make sure we keep an eye on
- 26:48them. So there's certain inherent bias
- 26:51that you're, we refuse to like allow for good reason.
- 26:55But then there's other bias that like we probably encourage.
- 27:00So if, if your job is to say that the machine will never get
- 27:03the bias right, we're only at as good a point as we are right
- 27:07now, how do you kind of walk that line and how do you reset
- 27:11your data points to make sure that the biases we accept and
- 27:15don't accept are updated? Yeah.
- 27:16So I, so, so this is such a good point.
- 27:22One of the reasons why we think we're a pretty good company to
- 27:26be doing this is that we have a background that's very different
- 27:29from a lot of AI companies. And so me and my brother, before
- 27:33we ran, before I ran Loretta, I also ran physical restaurant
- 27:38chains and we used to run restaurant chains that work
- 27:41specifically with the migrant population.
- 27:43I'm going to share a little a secret anecdote that is well
- 27:47known only in the in the, in the in the restaurant industry,
- 27:51which is that often when you want to look for the very best
- 27:54chefs, you go to parole centers. Yes, parole centers.
- 28:01Parole centers. So like people like just got to
- 28:04go. Yeah, That is where you get the
- 28:08best cooks because everything that you saw in Kitchen
- 28:11Confidential is true, but it has a dark side.
- 28:14And so when they when they hang out and take drugs together, it
- 28:18also means that if one of your old employees want to complain,
- 28:21everybody goes to jail. Yeah.
- 28:27Amazing. Yeah, man.
- 28:29Hey, I know a lot of chefs and I don't know if they're convicted
- 28:32felons, but they are felons for sure.
- 28:34Definitely felons. And so one of the things that
- 28:38happened, so we bought them. I used to go in the migrant
- 28:41community. This was in Singapore by the
- 28:42way. And Singapore is a place where I
- 28:45think Singapore's drug laws are legendary in the world, right?
- 28:48So essentially about this much is cocaine.
- 28:53It's enough for the death sentence in Singapore.
- 28:54It's about 9 grams is enough, right?
- 28:56So it's pretty bad, but we had somebody who he still had his
- 29:04ankle monitor, right? So he was obviously still at a
- 29:06halfway house. He was still on parole.
- 29:08He was a mentor to a lots of people in our restaurant chain.
- 29:12So he was a mentor to all the young staff, all the young cooks
- 29:15and all the young chefs. We made it so that every from
- 29:202:00 to 5:00 PM when the restaurant was quiet, his family
- 29:24was allowed to come into the restaurant to live, to hang
- 29:27around there and to do the whole world and stuff like that so
- 29:29that he could see his kids, right?
- 29:31And so with parole, you, you actually are only allowed to go
- 29:34to your office or your workplace and go back to the place, right?
- 29:38Because they're tracking you all the time.
- 29:40You cannot leave that particular pathway and stuff for that.
- 29:43And so we did a lot of these things.
- 29:45And the reason why I mentioned this is that we were, I want to
- 29:51separate a, this is an ex convict.
- 29:55So if there's a person who is a person of interest by default or
- 29:58by stereotypes, he is it, right? He is.
- 30:02He had 10 years in prison. But when he's out, we want to
- 30:06build a system that does not look at him more carefully than
- 30:13it does other people. So it's not about.
- 30:15So once that happens, you kind of fall back into that same
- 30:19problem that we have, which is like, oh, we talk about how like
- 30:23in a black community, a white criminal often never gets caught
- 30:27because like all of the police people are just like looking for
- 30:31the, the black community that the people there and they were
- 30:34trained that way. And it's like, and that skews
- 30:38the ratios even more, right? It's like, maybe that is,
- 30:42there's some data that implies this, but we don't want the data
- 30:47to drive the decision. And so the way to do that is you
- 30:50have to make objective capabilities that are narrow
- 30:55enough that the things that we want to avoid.
- 30:59So racial bias, age bias doesn't get involved in it at all.
- 31:04So yes, maybe I will train the system that it knows how to do
- 31:08test for a person in a coat or putting stuff in a handbag like
- 31:14yes, handbags are tune more towards younger women versus men
- 31:19and so on and so forth. And so obviously that
- 31:22capabilities in there. But if I I don't want the system
- 31:25to have what is what is called in the AI space today when
- 31:30called set detection, a set SET means a detection that says when
- 31:35a person like this does that, then both of these things are
- 31:38detected together. And that's where it gets
- 31:41problematic. But then you are codifying the
- 31:44stereotype into the system. Yeah, it's tough too, because
- 31:48sometimes statistically isn't helping those stereotypes.
- 31:51You know, it's kind of it's tough.
- 31:53It's it's, it's, it's not an easy not to untangle honestly.
- 31:58And it probably takes a lot of bravery to to even give it a
- 32:02shot, you know, I mean it. And we kind of go back and forth
- 32:06to your point, you know, after COVID, like the take grocery
- 32:10stores for example, a lot of them basically just bailed on
- 32:13the self checkouts because they were getting robbed blind.
- 32:17You know, like people would just come in, throw some M&M's on the
- 32:20thing, pay for that and throw 3 steaks into their bag.
- 32:23You know, or they're doing the same thing at like the the Whole
- 32:27Foods over by Wash Park where I live.
- 32:29You know, they basically said that none of the high school
- 32:32kids could even come in there any.
- 32:33That's right, there was. A sign that said that if you
- 32:37were under this age you cannot use self check out.
- 32:39Say what? You can, yeah, you cannot shop
- 32:42here, which is which is wild, but I mean, this is what
- 32:44happens. The line moves, you know, so the
- 32:47things that we're willing to accept will change depending on,
- 32:50you know, the outcome of the scenario.
- 32:53It's very interesting. So you mentioned you ran
- 32:57restaurants. How do you, Tran, how do you,
- 33:00how does your career switch from running restaurants in Singapore
- 33:04to, you know, carrying a gun in Texas?
- 33:07So it was a short jump, right? No, I'm kidding.
- 33:12But essentially the way they used to work is I had a day job
- 33:18that when there has AI have a very strong data analysis
- 33:24narrative that goes through my life.
- 33:26And so it went, management and consulting and Monte Carlo
- 33:30simulations, all that kind of stuff.
- 33:31And they went into banking and big data.
- 33:33And while I was doing this, I ran restaurants for a full 6
- 33:37year period at the same time. And I was doing all of that.
- 33:40And the way that I looked at it is that I decided to be.
- 33:46I think everyone who becomes a startup entrepreneur looks at
- 33:51things one of two ways. They either think of himself.
- 33:54This is a great, there's a great gap that I can fill or there is
- 34:00a fundamental large gap that needs to be filled.
- 34:03But is this a quick win or is this a slow burn kind of
- 34:07solution? And I was dumb enough to go for
- 34:11the slow burn. And so essentially the way I did
- 34:16it was that when I looked into this, I looked at the way that
- 34:22physical data was being captured and I didn't see humanity in the
- 34:28data. And what I mean by that is not
- 34:32like is that if I, we were looking at AI or computer vision
- 34:37of in physical spaces in 2017, 1819, even today, most of the
- 34:41time you'll see here the words like footfall, dwell foot, words
- 34:46like GMV, These are averages of people in space.
- 34:51It's actually more describing the location than is the person.
- 34:56And then I, I took that narrative.
- 34:59I went to a couple of the major shopping mall providers in
- 35:02Singapore, vendors, shopping mall orders in Singapore.
- 35:07And I was like, there has to be a secret to how you are
- 35:09unraveling this data. And I learned that a secret is
- 35:13that they're not unraveling the data.
- 35:14So they're just guessing. It is the reason why a lot of
- 35:19the top mall operators in the world at the same mall operators
- 35:24choppy from mall to mall because it is all heuristics and advice
- 35:28and not data that is driving rental and leasing and shape and
- 35:33design decisions of these malls. And I was like, that's dumb that
- 35:39and that's problematic. And so I built a technology
- 35:44specifically to solve the solution of bringing humanity
- 35:48back to it. Because every footfall data
- 35:52doesn't tell you why they are there.
- 35:54Are they? Just because people walk by a
- 35:56shop doesn't mean that the shop is had a lot of business.
- 36:01It could be a lush. It smells amazing.
- 36:04Like. First, like, OK man, like that
- 36:07doesn't mean anything. We need data that we can use and
- 36:11that is all about the what is in the customer's brain and not in
- 36:15their movements. And so I was like, what
- 36:18information could allow us to identify the identify the intent
- 36:22of the customer? Funnily enough, what I ended up,
- 36:26what we ended up building, we found that identifying malicious
- 36:30intent is easier than define shopping intent because shopping
- 36:35intent is very nuanced. It's like I bought these four
- 36:38things, but I wanted to buy these other things.
- 36:40I saw this, I could have paid more, but I didn't.
- 36:43And a lot of this is subconscious to you.
- 36:46Malicious intent is almost entirely conscious, and so the
- 36:50security product is an offshoot of the retail problem.
- 36:56Basic and it might be just the the entry point for all this,
- 36:59because as the fidelity of the data gets greater and greater
- 37:03and we have more data points, then there will be more buying
- 37:06intent as a that that's kind of a secondary problem.
- 37:09So you have this great idea, you go to the the mall operators,
- 37:14you realize that they have no idea there is an entry here.
- 37:17So did you raise capital? How did you finance the the
- 37:21company and it's in the beginning.
- 37:22Oh, we, I went to the mall operators.
- 37:26I first got I have a bit of a consulting background, so I
- 37:30first got a contract to analyze their data.
- 37:34So this was my foot my this was how I got into the door
- 37:38understanding how the data worked.
- 37:41That is my version of validating product market fit, right?
- 37:45Because there are different ways that you validate, especially if
- 37:48you're in the B to B space, you have to know that there are many
- 37:53gaps, but you don't from the outside, you may not know
- 37:57whether the gap is real. So you might see, let's say if
- 38:01you go into a car into like a car dealership, it's like, OK,
- 38:04they seem to not be taking me seriously.
- 38:07I'm sitting in the corner, nobody dealing with me.
- 38:09There might be a gap. It's like, no, there is a reason
- 38:12why they're ignoring you. They're making you sit.
- 38:15There's a reason why I trust that they don't want you to get
- 38:18out faster, right? So they're kind of things they
- 38:20need to understand and I need to validate these things.
- 38:23And so I built that first. Once I got my first contract
- 38:26there, I told that money I got into a property type accelerator
- 38:33where I give away 2% of the company for no better reason
- 38:37than to have a pilot at a property mall in Singapore.
- 38:41So at a mall called Lend Lease, there's a mall operator called
- 38:47Lend Lease. Lende's, by the way, is pretty
- 38:49famous in the US. Most people don't know the name,
- 38:52but it's the company that had the contract for the
- 38:54revitalization of San Francisco over the last eight years.
- 38:57So. Wow.
- 38:59The contract that they did not fulfill, but there was a
- 39:02contract that they had. Pretty big job if we're talking
- 39:07about San. Francisco.
- 39:08We're talking about San Francisco.
- 39:09It was a big job, but they that we got them as a investor, they
- 39:15put us into their mall. We validated that and then once
- 39:18we had the validation and we knew that a product had value,
- 39:22then we raised money. We raised money in Singapore,
- 39:25which means we didn't raise a lot. 1 of the problems with
- 39:29raising money overseas and coming to the US is that the
- 39:33quantums are very different. And one of the main reasons for
- 39:36that is that every time you raise money, you have to have a
- 39:40decision of where the money takes you, right?
- 39:42So it's like, do I go from research to pilots, from pilots
- 39:46to scale up? By the time I raise the next
- 39:49round, am I going to be showing milestones or am I gonna be
- 39:53showing graphs? Right?
- 39:55So it's kind of two ways to do it.
- 39:57If you talk about a seed, you can go from AC to a Series A on
- 40:01milestones, which is like, OK, I got my FDA approval, I got my
- 40:05security approval. I got a pilot in a government
- 40:08location. I got a pilot in the New York
- 40:12Trade Station or something like that, which is great.
- 40:15It doesn't have enough that that doesn't show that you have
- 40:17enough revenue, but it shows you're going very quickly in the
- 40:20right direction. So it's speed against
- 40:22milestones. Then that's the next group.
- 40:25That's the next stage, which is when you go to graphs and graphs
- 40:27is where you just have to show revenue did this and sales to
- 40:30test and you if you can, if you can, if you once you get to
- 40:34graphs, then it's all performance, which is great for
- 40:37companies that are building deeper and longer term.
- 40:42Sometimes you have to take, you have to step away from the take
- 40:48up graphs to move yourself deeper into the temp.
- 40:52So that I have a product that's a $10 million temp and I'm going
- 40:56to scale it up into a product of $100 million temp, then I'm
- 40:59going to scale up to a product of a billion dollar temp.
- 41:02And so because we needed, so we decided that we wanted to go
- 41:06deep. And so we wanted to make small
- 41:08jumps deeper into a scaled and more mature product and do that
- 41:13while we were going down at the same time with an AI product.
- 41:17One of the key things that you need to realize that you're
- 41:20moving in a space with two problems that a lot of the SAS
- 41:24world, they don't need to worry about 1 is that there are a lot
- 41:27of other AI providers out there. And so your competitors are
- 41:32fast, right? A lot of all, a lot of
- 41:36successful start-ups. There's a famous saying by I
- 41:40think Paul Graham there that says, Paul Graham used to say
- 41:44it's great to work in industry where your competitors are slow,
- 41:48right? And so in this, when you're in,
- 41:50where you're in AI, your competitors are fast.
- 41:53So that's one problem. The second is that your
- 41:55technology, the technology is evolving fast and it's evolving
- 42:00in a way that the way I like to talk about it is it thickens, is
- 42:06coverage of your service. And So what I mean by that is an
- 42:11AI that only detects guns, for example, is not a full suite of
- 42:17a security solution. But if your AI today can
- 42:20describe a location and run an agent, an agentic model that
- 42:25calls the police or something like that, then the entire
- 42:28solution is in the AI wrapper. If your entire solution is in
- 42:33the AI wrapper and all of that is provided by a third party
- 42:36solution like Open AI or whatever where you're just
- 42:39sending in the images, then your own differentiation is shrinking
- 42:43fast against a new incumbent. If you do that, then your
- 42:48solution cannot last. And so if you're going to go go
- 42:51and make quick a quick bite out of it or you're going to sell
- 42:54your service as a component to a big provider, then yay.
- 42:57But in all other cases, you are losing relevance every day as
- 43:02the solution becomes, as the core wrapper expands its
- 43:06capability. We never had this in the past
- 43:09because in the past every API never left, kind of never got
- 43:15out of its lane, right? So if you use Twilio, it would
- 43:17be giving you SMSS, but it won't be putting in the content of the
- 43:20SMS. So you still have your system
- 43:22that sends you the messages and so on and so forth.
- 43:24AI doesn't do that. And so we built a solution
- 43:27that's like that. We we built in such a way that
- 43:29we could build differentiation that expands over time, even if
- 43:35the AI gets wider over time. And that those are, I think,
- 43:40fundamental in the AI space today.
- 43:42So yeah. It would.
- 43:44Did that influence the way you're able to raise or was that
- 43:47kind of seed raised in Singapore?
- 43:49Was that the the last check? How did that, how did the
- 43:52financing kind of progress? From once we had that check, we
- 43:57were able to do 2 things. One is that we were able to
- 44:00differentiate ourselves in the industry.
- 44:03The next check after that was from a strategic investor in the
- 44:07US. So we continue to do that and we
- 44:10are going to continue raising in the US.
- 44:14The second thing that we that allowed us to do is that allowed
- 44:17us to read ourselves and kind of scale up there.
- 44:20And I think one of the important things of AI, or at least with
- 44:23any emerging technology is we've, I believe that if your
- 44:27technology has is going to scale, you need to always have
- 44:31one hand in the cutting edge and in AI or in the robotic space
- 44:37that cutting edge is right now in government, in defence, in
- 44:41military use cases and so on and so forth.
- 44:44Having one hand there forces your technology to develop.
- 44:48A lot of the reason why our competitors in this property
- 44:52analytic space stall is because once you reach there's a point
- 44:58where your product has to match the requirements of your
- 45:02customer obviously. And in many cases, the customer
- 45:06does not want your AI to improve.
- 45:08They just want your system to be more enterprise and cheaper.
- 45:10And so if that is your case, then the problem is that because
- 45:16AI is still improving, you're going to build for that
- 45:19particular customer and then a new startup will be able to do
- 45:24your capability better than you because they were still
- 45:27investing in the algorithm in the past.
- 45:30And with a, with smaller razors as well as the razors that you
- 45:32do overseas, you can't do both at the same time.
- 45:34We don't have to budget for it. And so there's a bit of a
- 45:37balance that you need to make between those things.
- 45:41Looking into the future, what would be a good data point for
- 45:45the software? Right now you have video, you
- 45:47have audio. Like what if you could be able
- 45:50to see people's body temperature or how much they're sweating or
- 45:53like their eyes looking shifty? Like what would be a good
- 45:57additional biometric? So we've looked into this more
- 46:04than I like, but it's actually the answer is that there isn't a
- 46:13lot more that we need to do in the computer vision sets.
- 46:20So the second the next area is will likely be around stand of
- 46:27EMF sensors. So what I mean by that is
- 46:29essentially terrafant sensors and millimetre wave sensors and
- 46:33so on and so forth. They are low cost.
- 46:35They are starting to go longer distances and they're starting
- 46:37to get very good data coming in. And that is essentially the
- 46:43X-ray vision version of it where it's like, OK, I see you
- 46:47removing object from the shelf and I now can use the the stand
- 46:52off to see you putting it in your bag.
- 46:54So that's kind of the other system they're coming in and
- 46:58there is a contract that we have that's publicly known.
- 47:01And there are a couple of these that are going out up there
- 47:03where the computer vision that we use becomes the agent layer
- 47:08for processing of other data. And by agent layer, I don't know
- 47:11what agent has kind of been taken over by the AI world to be
- 47:15in APIs. But agent in the old school days
- 47:20of machine learning means that you attribute all data to the
- 47:24individual. And so it's like an individual
- 47:27that walks by an X-ray, which that walks by a millimeter wave
- 47:30sensor or a Geiger counter even, right, which is for radiation.
- 47:35Our system will then say this, when this person entered the
- 47:38this area, the Geiger counter went take that.
- 47:42And when you left it went down. And that means this guy, the guy
- 47:46who has the nuke in the bag. Yeah, he's got The Dirty bomb.
- 47:52Tackle him. Release the dogs.
- 47:53Release the dogs. Wow, so fascinating.
- 48:00I really appreciate your time. We're going to do the lightning
- 48:02round. Are you ready for the lightning?
- 48:03Round. I love that you kind of put the
- 48:09company on your shoulder. What what does founder LED
- 48:12marketing mean to you? Why?
- 48:14Why do you come out here and and talk on podcasts about your
- 48:17company? Founder LED marketing to me
- 48:19means that you embody the vision of the product.
- 48:24They embody the way that people will perceive the company in
- 48:28terms of how they will trust you and how they perceive you.
- 48:31And so having like an ethical narrative, having a trust
- 48:34narrative, having a technical narrative means that when a
- 48:37customer talks to us, they know that they're not going to get
- 48:40too much marketing. They're going to get something
- 48:42that we know it's going to stay and has a meaning behind them.
- 48:47Amazing. I love it.
- 48:48Who would be your dream client? Who would you like Walmart or
- 48:52something? Like what would be your a game
- 48:54changer client for you guys? I think the one of the clients
- 48:58that I really want to get in soon is the Simon's Mall brand.
- 49:04And the reason for that is because malls in the US, they
- 49:09kind of, they kind of badge so different.
- 49:14Like even in the North, even in North America, you have the top
- 49:18ten malls in North America, like 9 of them are going to be in
- 49:20Canada, right? Like it's crazy.
- 49:23And so it's like this is something that can meaningfully
- 49:26transform the way that we experience the physical world
- 49:29and experience social life. And so like, I would love to
- 49:32have silence as a customer. Yeah, I agree. 8 malls.
- 49:37They they need an overhaul. Let's say the audience of this
- 49:45podcast loves ideas, business ideas.
- 49:49If you What's a business that you're interested in making that
- 49:52could make that would earn $1,000,000 as soon as possible?
- 49:57So I looked at three of them. I look at a couple of these
- 50:03every couple of weeks because I want to test out the vibe coding
- 50:07stuff and learn how to code on my own.
- 50:09And I, I test these out and I'll begin.
- 50:13The first one is I believe that we completely that OK, So one of
- 50:19the important things that one of the important data points 1/3 of
- 50:24all open AI traffic disappeared in March of, in May of this
- 50:28year. Do you, do you, do you hear
- 50:30this? And it came back, it came back
- 50:32in August. Do you know what that was?
- 50:34That's called summer break. What?
- 50:38Summer break? Summer break, Yeah, the kids
- 50:41aren't using. They're, yeah, they're earning
- 50:44their money from coders, but the people who are driving traffic
- 50:47to chatgpt.com are students cheating on their homework,
- 50:51right. But like that, that is the key
- 50:54driver of AI today from a traffic perspective.
- 50:57And there is an end to end app that can be built entirely on
- 51:03your lecture that obviously is gonna work, right?
- 51:08You can transcribe the lecture, you can translate the notes, you
- 51:13can reference that to your textbooks and your homework,
- 51:18close it out and still have a system that you can ask
- 51:21questions to. Essentially, you can get your
- 51:23tutorial entirely on an agentic AI model that will run
- 51:28$1,000,000 in a weekend for sure, right?
- 51:30So that's one of the things that clearly would work.
- 51:35The second one that I think is really interesting is I like the
- 51:40idea of using computer vision as a assistance tool in the
- 51:48physical world. There was a interesting image
- 51:52that we thought that we I saw online that I absolutely love it
- 51:55was it was the parent of one of those like AI scientists and she
- 52:02used chat GP to identify a book on the bookshelf.
- 52:08And literally you can take that system and that means to me, you
- 52:14could take your little recording.
- 52:16What's your McCullough they have there and say I'm looking for
- 52:19something. And if you scan the room, it'll
- 52:23take the photos and it will come back to you and say, I saw it,
- 52:25you missed it, but I saw it. And, and lots of things for my
- 52:30parents that work extremely well AI that I've been to go into
- 52:35production. But a lot of these men, they're
- 52:37a lot of them. Yeah, I, I, I'm really
- 52:40interested in that, you know, creating an alternate memory
- 52:43timeline because our memory is so flawed.
- 52:45But like, if you have a camera recording everything you're
- 52:48seeing, it's going to pick up everything.
- 52:50You never wonder where your keys are.
- 52:52You'll be like, oh, it's on the counter where you left them.
- 52:55Like, oh, I thought I looked there three times.
- 52:57Oh, you did. You did, you just didn't see it,
- 53:00but we saw it. Thank you.
- 53:04Does that does that mean that you have kind of do you have any
- 53:07interest in hardware going into? Hardware.
- 53:10I have an interest in going to hardware I and I think for for a
- 53:16person who is coming into the startup space, hardware is
- 53:20horrendously difficult to do, especially if you are in the US
- 53:26My own calculations, but I have to look into this is that if you
- 53:29are AUS startup going into hardware and you cannot raise 3
- 53:33to $4 million out of the bat, you are either outsourcing or
- 53:38you will not make it to production.
- 53:41If you were in Southeast Asia, it is about four to $500,000.
- 53:48So it's about a magnitude, it's a full magnitude cheaper to be
- 53:52able to do it. And so just a couple of things
- 53:54to think about around there. But yeah, we are interested in
- 53:57hardware. There is a lot that's a huge gap
- 54:01by the way. And this is, this is something
- 54:03from where we work a lot with the government and suffer there.
- 54:06But there's a huge gap between capabilities of vision and
- 54:10sensing that are available in research and the stuff that we
- 54:13have widely available. And that gap is not price.
- 54:17So it cost the same. And so it's crazy that there's
- 54:22no one going into these things. Assuming that governments are
- 54:27deep into this kind of stuff, do you have any idea what they're
- 54:30doing, what their hardware capabilities are?
- 54:35Yeah, definitely things that they have, but one of the ones
- 54:43that I like to think about is I worked for a while with a
- 54:48present. This is a public view.
- 54:49You can Google their website and stuff in there.
- 54:51But I work for a person who essentially there are only a
- 54:56handful, maybe a dozen people out there who run companies that
- 55:00run sensors that don't run cameras that go don't go through
- 55:04the CMOS sensor. Give us the CMOS sensor.
- 55:08You know, when you have a digital camera, the image goes
- 55:11in, it hits a bunch of pixels that get excited by the energy.
- 55:17OK, sure. Yeah.
- 55:20And that that whatever gets excited by the energy that gets
- 55:23translated into your pixels to get into your.
- 55:26Now if you do that then the amount light that comes in is X,
- 55:32but the amount of it that is making stuff jump is like one
- 55:36tenths of X. If you just eliminated that
- 55:41system, you would have a camera that captures about 10 times
- 55:47more light. Does that does that mean it the
- 55:53it's that much bigger? It's 10X as big of an image, so
- 55:57you can like go deeper. Into it.
- 55:58It means that you could get a clear image in the middle of
- 56:01the. Night.
- 56:03Wow, really? Oh, so there are things
- 56:08happening out there. Amazing.
- 56:15Let's see, I'll ask you one more question.
- 56:18Is there anything you know now that you wish you knew earlier?
- 56:22I one of the things, a lot of what I've, I think the main
- 56:30thing is about fearfulness. I think fear is a core driver.
- 56:40If we sit back and we look at some of the like start up
- 56:43founders in like San Francisco and stuff like that, we're like
- 56:46these guys are reckless AF. And there are reasons why they
- 56:53can, which a lot of us though they are born in Asia for
- 56:57example, who have no base, who have no company to go back to.
- 57:01Like you can't do that. I understand, OK.
- 57:04But there is, because the I factor is the most important
- 57:13factor in the IRR, in the growth of company is how fast you do
- 57:18things. In some cases, for anyone who
- 57:23has been an entrepreneur, an entrepreneur in the non startup
- 57:27world, your settings for risks are completely wrong.
- 57:33You're far too conservative. And I am.
- 57:36I was like that. And there's something that I
- 57:38have had to actively build and burn out of my system.
- 57:42That's something that yeah, we just have to do.
- 57:44We just have to do this. Do you think the restaurant
- 57:48business is conservative? The.
- 57:49Restaurant business is super conservative, Yeah.
- 57:54One of the things about restaurant business is that your
- 57:57profit margin can be something along the lines of 0 + -, 5%.
- 58:04Yeah, I well, because I was in the quick service restaurant
- 58:07business, I was in the top. And one of the people who was in
- 58:10the top was Subway. And Subway at a time was
- 58:12dominating the world. Like five years ago, Subway was
- 58:15everywhere, the fastest growing fast food chain in the entire
- 58:18world. And what he said was that every
- 58:21time one of the stores goes into the red because the environment
- 58:25no longer supports the Subway, it takes 5 stores to make that
- 58:30one stop rate even. I was like, what does that mean?
- 58:34Does that mean that if you had less than five stores, you go
- 58:36bankrupt? And he's like, kind of yes.
- 58:39Would you like a franchise? I was like, no.
- 58:43Yeah, wow. How, how do you, how do you
- 58:48practice taking risks? Are you like out there bungee
- 58:51jumping and stuff like that, you know?
- 58:53You know, one of the things that I did this year specifically for
- 58:56that is that I came from a very conservative culture.
- 59:00And so I have like 100 like unrealized subconscious, like
- 59:06fears in my body, like hundreds of phobias.
- 59:08And so my I had been going rock climbing with my wife because
- 59:13I'm absolutely afraid of heist. Me too, me too.
- 59:18I could never do that rock climbing.
- 59:20I was terrified. They were laughing and I was, my
- 59:23hands were physically shaking and it was amazing.
- 59:27It's like this has been great for my business.
- 59:29Rehearse. That's awesome.
- 59:34You know, I, I was looking at this Reddit video, so it's like
- 59:39an inch and 1/2 on my phone and it was like this guy that was
- 59:44just like stacking trash cans from like 15 feet up.
- 59:47And I can still feel it now like how scared I am of heights for
- 59:50him. I'm just like, well, that's
- 59:53amazing. Good for you Galvin.
- 59:55This has been amazing conversation.
- 59:57I really appreciate it. Where can people connect with
- 59:59you online? So you can find me at on X at
- 1:00:03Galvin West or at my website at Loretta dot IO.
- 1:00:09Tremendous. Thanks so much for coming on the
- 1:00:11show. Really appreciate it.
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