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BLACK WOMEN LED VC FIRM, FUNDING BLACK WOMEN'S BUSINESSES, FACES LAWSUIT FOR REVERSE DISCRIMINATION · Earn Your Leisure

• 0:00
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 0:03
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 0:07
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 0:11
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 0:15
  Speaker 1: some of the heinous migrant criminals caught because of President
• 0:19
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 0:23
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 0:28
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 0:31
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 0:35
  Speaker 1: are here illegally, your next you will be fined nearly
• 0:39
  Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
• 0:43
  Speaker 1: never return. But if you register using our CBP home
• 0:46
  Speaker 1: app and leave now, you could be allowed to return legally.
• 0:50
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 0:55
  Speaker 1: border and families will be protected.
• 0:57
  Speaker 2: Sponsored by the United States Department of Homeland Security.
• 1:00
  Speaker 3: I'm Marian Simon. Everybody.
• 1:01
  Speaker 4: I've run the Fearless Fund along with my partner Leanna Parsons,
• 1:05
  Speaker 4: and we run the nation's first venture capital fund that's
• 1:08
  Speaker 4: built by women of color for women of color, excuse me,
• 1:11
  Speaker 4: So we invest.
• 1:12
  Speaker 3: Black and brown women.
• 1:13
  Speaker 4: So we've invested in Asian women, Latino women, but of
• 1:16
  Speaker 4: course we have definitely invested in many black women. We've
• 1:19
  Speaker 4: made over forty one investments. We've invested in over twenty
• 1:23
  Speaker 4: six million dollars in investment capital. At our foundation, we
• 1:26
  Speaker 4: have awarded over three hundred and fifty grants and we're
• 1:30
  Speaker 4: over four million and grant dollars, and we've raised much
• 1:33
  Speaker 4: more money than we have deployed because we are also
• 1:36
  Speaker 4: in a fundraising cycle for our fund too. We were
• 1:40
  Speaker 4: hit with a lawsuit on August second by ever Bloom,
• 1:43
  Speaker 4: the conservative legal strategists who stopped affirmative action at the
• 1:48
  Speaker 4: collegiate level back in June in the Supreme Court.
• 1:52
  Speaker 3: His next federal lawsuit and target.
• 1:55
  Speaker 4: Was us and looked up and we had a lawsuit
• 1:59
  Speaker 4: out of no where like August second. My life just
• 2:02
  Speaker 4: changed and we lawyered up, of course, in order to
• 2:05
  Speaker 4: deal with this situation.
• 2:07
  Speaker 3: But it is real.
• 2:08
  Speaker 4: They are trying to stop diversity, equity and inclusion funding
• 2:12
  Speaker 4: across all corporations. They are trying to instill fear to
• 2:15
  Speaker 4: stop millions and billions of dollars from getting in the
• 2:18
  Speaker 4: hands of people of color, mail and female as well
• 2:22
  Speaker 4: as women, and it's it's honestly just quite disturbing. They're
• 2:26
  Speaker 4: trying to use us as a small company as like
• 2:28
  Speaker 4: a baseline case to say, if we can set present
• 2:32
  Speaker 4: here by knocking them off, we can go get everybody else.
• 2:38
  Speaker 5: So I got you got a question yes number one
• 2:42
  Speaker 5: as an audience and as a show, what can we
• 2:44
  Speaker 5: do to support you in this fight? I do want
• 2:46
  Speaker 5: to have the conversation tonight on if venture capital scale
• 2:49
  Speaker 5: is broken? But why do you think this is happening now?
• 2:53
  Speaker 5: In number two? As a show, what can we do
• 2:55
  Speaker 5: to support you in this fight?
• 2:57
  Speaker 4: Thank you so much? Why do I pins this sat
• 3:00
  Speaker 4: happening now? There's been a lot of reversal of rights
• 3:03
  Speaker 4: at a very rapid rate. Row versus Wade was reversed,
• 3:07
  Speaker 4: Affirmative action has just been reversed, and now they're trying
• 3:11
  Speaker 4: to stop minority funding, which for me that is just
• 3:14
  Speaker 4: very detrimental. The government already stopped its funding for its
• 3:18
  Speaker 4: minority grants. They've also already stopped their minority certifications put.
• 3:22
  Speaker 3: Them on pause. Why now I think.
• 3:26
  Speaker 4: People are trying to reverse the economic progress that a
• 3:31
  Speaker 4: lot of people made post George Floyd. So that's also
• 3:35
  Speaker 4: why now why now we're in an election cycle upcoming?
• 3:39
  Speaker 4: That's another why now. Our lawsuit states that they are
• 3:44
  Speaker 4: claiming or a legend were discriminating according to the Civil
• 3:47
  Speaker 4: Rights Act of eighteen sixty six, not nineteen sixty four eighteen,
• 3:54
  Speaker 4: which was put in place right post slavery of eighteen
• 3:57
  Speaker 4: sixty five. And this Civil Rights Act states that we
• 4:01
  Speaker 4: as people of color, can enter contracts. So this is
• 4:04
  Speaker 4: about our economic freedom, and for anybody to try to
• 4:07
  Speaker 4: flip that on its head, it's very dangerous.
• 4:10
  Speaker 3: We need everybody to receive their funding.
• 4:13
  Speaker 4: On a whole other I will definitely break down what
• 4:16
  Speaker 4: venture capital is for anybody who doesn't know. So venture
• 4:19
  Speaker 4: capital is just exchanging cash for ownership. What we do
• 4:24
  Speaker 4: looks like Shark Tank. People come to us with their
• 4:26
  Speaker 4: business and we say, hey, what do you want. They say,
• 4:30
  Speaker 4: we want fifty five hundred thousand dollars in exchange for
• 4:33
  Speaker 4: teen percent ownership of our company. So it looks just
• 4:36
  Speaker 4: like Shark Tank cash for ownership. You hear cash for equity.
• 4:41
  Speaker 4: We work in the space of job creation. We work
• 4:45
  Speaker 4: in the space of reducing the wealth gap. And I
• 4:48
  Speaker 4: can get into how all that plays into this, but
• 4:51
  Speaker 4: everybody on here knows the wealth gap is just widening
• 4:55
  Speaker 4: and widening, and by like twenty fifty three is what
• 4:58
  Speaker 4: they claim will be at zero for black people. But
• 5:02
  Speaker 4: I can break down how venture capital plays a direct
• 5:05
  Speaker 4: role in this whole wealth gap situation.
• 5:07
  Speaker 3: But what oh you saying, gopher now in yes, go ahead, Okay.
• 5:13
  Speaker 4: The technology industry is the world's largest wealth producing industry.
• 5:19
  Speaker 4: This is on just a basic level. It is backed
• 5:23
  Speaker 4: by venture capital. Tech is very capital intensive to build,
• 5:28
  Speaker 4: and venture capitalists back it. So you have nine white
• 5:33
  Speaker 4: male of our industry that are investors in VC and
• 5:38
  Speaker 4: they pretty much have put most of the money into
• 5:41
  Speaker 4: white male startups. So therefore the returns are then doing
• 5:45
  Speaker 4: just like this, the white male investors, white male starps.
• 5:49
  Speaker 4: And because it's the world's largest wealth producing industry, it's
• 5:54
  Speaker 4: making the wealth gap get.
• 5:55
  Speaker 3: Wider and wider and wider.
• 5:57
  Speaker 4: Because if this one right here of this circle just
• 5:59
  Speaker 4: keeps going around and around around, they keep making more
• 6:01
  Speaker 4: money and more money, more money. It's the world's artest
• 6:04
  Speaker 4: wealth producing industry. It keeps widening and widening and widening.
• 6:08
  Speaker 4: Faster and faster and faster. We have to participate in
• 6:12
  Speaker 4: this process of investing in tech and creating tech in
• 6:16
  Speaker 4: order to be part of the world's largest wealth producing industry.
• 6:20
  Speaker 4: So there's that sixty two trillion dollar industry PEBC.
• 6:25
  Speaker 3: It's a huge industry.
• 6:28
  Speaker 4: It's primarily backed by pension funds, endowments, insurance companies. So
• 6:33
  Speaker 4: pension funds are like the bulk of what backs the investors.
• 6:37
  Speaker 4: Pension funds are built off of careers like teachers, police officers, firemen.
• 6:46
  Speaker 4: A lot of careers were dominated by people of color
• 6:51
  Speaker 4: working there. So you've got the people of color work,
• 6:53
  Speaker 4: and you've got the pension funds that are backed by
• 6:56
  Speaker 4: these people. And then this money goes up to ninety
• 7:00
  Speaker 4: two percent white men, and then goes up to the
• 7:02
  Speaker 4: white startups. And then when does it go back to
• 7:05
  Speaker 4: the bottom of the people of color whose back suspension
• 7:08
  Speaker 4: funds were built off of. When does that take place?
• 7:13
  Speaker 4: So that's why this wealth gap keeps getting wider and
• 7:17
  Speaker 4: wider and wider. And I always said that after fund too,
• 7:20
  Speaker 4: which is what the fundsack we're now raising, I always said, Aaron,
• 7:23
  Speaker 4: you have to pause and get into some policy work.
• 7:26
  Speaker 4: Once you finish closing that fund because I got to
• 7:29
  Speaker 4: change some laws down here. We need some minority mandates
• 7:31
  Speaker 4: that say, if you want to basically build the backs
• 7:35
  Speaker 4: off of this money off these people, we need to
• 7:38
  Speaker 4: go back into that community, just point blank. It's like
• 7:41
  Speaker 4: when you have a mayor. I grew up in Detroit, Michigan,
• 7:44
  Speaker 4: and Mayor Combing Young when I was a kid, he
• 7:46
  Speaker 4: made every contract reflect the demographics of the city Atlanta.
• 7:50
  Speaker 4: I live in Atlanta, and now we got like a
• 7:52
  Speaker 4: thirty percent minority mandate. I'm like, for what we sixty
• 7:55
  Speaker 4: percent minority? Yeah, minority mandate.
• 7:58
  Speaker 3: We needs to be exact.
• 8:00
  Speaker 4: So we need some policies that says this money has
• 8:02
  Speaker 4: to go right back into those communities.
• 8:06
  Speaker 3: What people can do today, and I'm so sorry.
• 8:07
  Speaker 4: For being long winded, go ahead, but what people can
• 8:11
  Speaker 4: do is go to Fearless Freedomnow dot org. They can
• 8:15
  Speaker 4: sign our petition. We have thousands of thousands of people.
• 8:19
  Speaker 4: What we're doing is collecting all of this data because
• 8:21
  Speaker 4: we are also not just I guess you would say
• 8:25
  Speaker 4: we're probably just the first target in this. Since then,
• 8:28
  Speaker 4: they have sued multiple and multiple people. Hopefully this case
• 8:31
  Speaker 4: gets dismissed.
• 8:32
  Speaker 3: Soon.
• 8:33
  Speaker 4: I have to go to federal court tomorrow morning. Hopefully
• 8:37
  Speaker 4: this can get dismissed soon. But whoever is the next target,
• 8:39
  Speaker 4: I would like to be able to pass this on
• 8:42
  Speaker 4: to say here is a resource you know that can
• 8:44
  Speaker 4: also help. It's just ridiculous, but you can make donations
• 8:48
  Speaker 4: to our foundation because right now there may be corporations
• 8:51
  Speaker 4: that are like, hey, we may not want to touch
• 8:55
  Speaker 4: a litigation. And both of our companies have been built
• 8:57
  Speaker 4: off the backs of corporate dollars. We're back by Jpmore, Chase, America, MasterCard, PayPal,
• 9:04
  Speaker 4: and a host of others. They investors in our fund
• 9:07
  Speaker 4: or their donors in our foundation, or and or somewhat both.
• 9:11
  Speaker 4: So if you want to donate to our foundation, you
• 9:13
  Speaker 4: have that option there too. But definitely sign a petition
• 9:16
  Speaker 4: because that's what we can say, the data of the
• 9:18
  Speaker 4: people that are upset with this and that would like
• 9:21
  Speaker 4: to take a stance with us' so.
• 9:23
  Speaker 6: A WHT So I mean you can inside on what
• 9:25
  Speaker 6: you just said. You can hear the purpose of why
• 9:27
  Speaker 6: this fund needs to be created. Correct me if I'm wrong,
• 9:29
  Speaker 6: But the lawsuit is focusing on the Phillis Funds, strivers
• 9:33
  Speaker 6: grant contests, specifically, so talk about what that is and
• 9:36
  Speaker 6: why they're specifically attacking that.
• 9:38
  Speaker 4: Most definitely two things we are being though, that's what
• 9:44
  Speaker 4: they're saying. We're being all of the entities are being sued.
• 9:48
  Speaker 3: Let me be clear on that.
• 9:49
  Speaker 4: They out suit on the foundation, the fund, the management company,
• 9:53
  Speaker 4: and the GP and this is public information, so all
• 9:56
  Speaker 4: the entities are being sued.
• 9:59
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  Speaker 6: 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
• 11:53
  Speaker 1: in Massachusetts. An MS thirteen gang member from l Salvador
• 11:57
  Speaker 1: accused of murdering a Texas man Venezuelan charged with filming
• 12:02
  Speaker 1: and selling child pornography in Michigan. These are just some
• 12:05
  Speaker 1: of the heinous migrant criminals caught because of President Donald J.
• 12:09
  Speaker 1: Trump's leadership. I'm Christy Noman, the United States Secretary of
• 12:13
  Speaker 1: Homeland Security. Under President Trump, attempted illegal border crossings are
• 12:18
  Speaker 1: at the lowest levels ever recorded, and over one hundred
• 12:21
  Speaker 1: thousand illegal aliens have been arrested. If you are here illegally,
• 12:26
  Speaker 1: your next you will be fined nearly one thousand dollars
• 12:29
  Speaker 1: a day, imprisoned, and deported. You will never return. But
• 12:33
  Speaker 1: if you register using our CBP home app and leave now,
• 12:37
  Speaker 1: you could be allowed to return legally. Do what's right.
• 12:41
  Speaker 1: Leave now. Under President Trump, America's laws, border and families
• 12:46
  Speaker 1: will be protected.
• 12:47
  Speaker 2: Sponsored by the United States Department of Homeland.
• 12:49
  Speaker 3: Security, they targeted the Strivers Grant contest.
• 12:52
  Speaker 4: It's a partnership we have at MasterCard, and through that
• 12:55
  Speaker 4: contest we award. The commitment is that MasterCard has to
• 12:59
  Speaker 4: the blame black community. It awards black women with this grant.
• 13:02
  Speaker 4: We're the funded the administrators for this grant and they've
• 13:07
  Speaker 4: picked that one out because it says black. I mean,
• 13:11
  Speaker 4: it just is what it is. Our thesis, like I said,
• 13:14
  Speaker 4: is black and brown. But they picked that one out
• 13:16
  Speaker 4: because MasterCard has a commitment to the black community.
• 13:21
  Speaker 7: So all right, so this is something that you can't
• 13:27
  Speaker 7: they're trying to say, you can't say it's for black
• 13:30
  Speaker 7: because you can. You can give money to whatever you want, right,
• 13:33
  Speaker 7: like you said, the white the white v VC firms
• 13:36
  Speaker 7: are mostly only funding white businesses. So if you if
• 13:40
  Speaker 7: it didn't say black, and you just donate, if you
• 13:45
  Speaker 7: just gave it, not donate, if you invested it with
• 13:47
  Speaker 7: black businesses, you can do that and there's no problem,
• 13:51
  Speaker 7: right for.
• 13:52
  Speaker 4: Shot, You were actually you were actually right, because that
• 13:54
  Speaker 4: side is a donation, that's a that's a grant program
• 13:57
  Speaker 4: that's on the foundation side, and the VC side of
• 13:59
  Speaker 4: course invest.
• 14:01
  Speaker 3: But you are correct, you are correct there.
• 14:04
  Speaker 4: But the reason why people have these commitments is really
• 14:07
  Speaker 4: just due to the disparities. You know, there's many other
• 14:10
  Speaker 4: black programs, there's many other Latina programs, and many other
• 14:13
  Speaker 4: Jewish programs.
• 14:15
  Speaker 3: It exists because of the disparities.
• 14:17
  Speaker 4: I mean, black women get a fraction of a percent
• 14:20
  Speaker 4: of funding, whether you're talking VC, debt based finance and
• 14:23
  Speaker 4: grants or anything. So black and brown women combined are
• 14:27
  Speaker 4: still at a fraction of a percent. Black people as
• 14:30
  Speaker 4: a whole are still definitely under two percent.
• 14:33
  Speaker 7: Yeah, so you're saying that you shouldn't even have to
• 14:37
  Speaker 7: It's okay to just say it's for black people. It's
• 14:40
  Speaker 7: not a problem. It's not discriminating against somebody else if
• 14:44
  Speaker 7: you're just saying that this is something that is set
• 14:47
  Speaker 7: up for a certain group of people.
• 14:50
  Speaker 4: Yeah, as far as I'm concerned, But I can I desired.
• 14:55
  Speaker 4: What is interesting about this is I actually desire the
• 14:58
  Speaker 4: same world that the plan.
• 15:00
  Speaker 3: If it's same.
• 15:01
  Speaker 4: He's saying that, oh, we want to take race out
• 15:04
  Speaker 4: of it.
• 15:04
  Speaker 3: I'd love to live in that world.
• 15:06
  Speaker 2: That would be amazing. I love that would be incredible.
• 15:10
  Speaker 3: Actually want what you want.
• 15:13
  Speaker 4: I would love to live in that world where we
• 15:15
  Speaker 4: don't have to have programs for black people, or have
• 15:18
  Speaker 4: programs for people of color, or have programs for latinas.
• 15:23
  Speaker 3: I would like to live in that world too.
• 15:25
  Speaker 4: But because we don't live in an equitable society, that's
• 15:28
  Speaker 4: why these programs are created.
• 15:29
  Speaker 3: But what's your outcome of what you desire? I desire
• 15:33
  Speaker 3: that too.
• 15:35
  Speaker 5: I've been saying for a long time the venture capital
• 15:37
  Speaker 5: is broken, especially for this reason because the big twelve
• 15:39
  Speaker 5: Airbnb coin base audacity like none of them have any
• 15:43
  Speaker 5: black founders. Can you tell us, like how much increase
• 15:47
  Speaker 5: we would see in GDP if more black and brown
• 15:51
  Speaker 5: founders were given capital and then we're led to the
• 15:54
  Speaker 5: i PO eventually at.
• 15:55
  Speaker 2: The end of the day.
• 15:57
  Speaker 3: Yeah, that's that's what people are concerned about.
• 16:00
  Speaker 4: Yep, that's why I'm so glad you asked that question
• 16:03
  Speaker 4: because when you that's why I also gave that circle
• 16:06
  Speaker 4: of how it's going from here to here to here
• 16:08
  Speaker 4: and not going there. The second you empower more black
• 16:12
  Speaker 4: founders with more capital and fusion, you now have more
• 16:16
  Speaker 4: wealth creation that will then go back into our communities.
• 16:20
  Speaker 4: You have more job creation that goes back into our communities.
• 16:23
  Speaker 4: You start to reduce the wealth gap, which is why
• 16:25
  Speaker 4: we're in the business doing the stuff that we're doing. Anyway,
• 16:28
  Speaker 4: as an Angel investor, the thesis for the Fearless Fund
• 16:32
  Speaker 4: just happens to be women of color. But as an
• 16:33
  Speaker 4: Angel investor, I invest in black males all the time.
• 16:38
  Speaker 4: I'm on plenty of cap tables. I got checks all
• 16:41
  Speaker 4: the time in that area.
• 16:43
  Speaker 3: Because that is the reality. We will help reduce.
• 16:47
  Speaker 4: The wealth gap by investing in our black founders.
• 16:52
  Speaker 6: D Can you talk about the lawsuits being filed in
• 16:56
  Speaker 6: the state of Georgia.
• 16:57
  Speaker 3: That is correct, in the eleventh District. It's a federal court, right.
• 17:03
  Speaker 6: I wanted to go about the intentionality of where that
• 17:05
  Speaker 6: the lawsuits being fouled, because I think that's important. The
• 17:07
  Speaker 6: trickle down effect of how Supreme Court now could you know,
• 17:11
  Speaker 6: come into play and the effects of that and who's
• 17:15
  Speaker 6: been placed in those positions.
• 17:16
  Speaker 3: Were sure, you're exactly right.
• 17:18
  Speaker 4: We've noticed that the plaintiff will file cases in areas
• 17:22
  Speaker 4: where they think that the judges are in their favor.
• 17:25
  Speaker 4: I don't know why we were targeted in particular, but
• 17:27
  Speaker 4: that's somebody's that That has been people's theory.
• 17:30
  Speaker 3: They're like, oh, they're in Georgia.
• 17:33
  Speaker 4: And the way the federal courts work is that, you know,
• 17:36
  Speaker 4: the they basically the judges are picked on a lottery,
• 17:39
  Speaker 4: so it's the luck of the draw of who you get.
• 17:44
  Speaker 7: So you mentioned something about the pension system, and Robert
• 17:49
  Speaker 7: Smith has said before what he thinks that it should
• 17:51
  Speaker 7: be a mandate of like.
• 17:54
  Speaker 2: Let's say, if it's.
• 17:57
  Speaker 7: Teachers of New York City's pension and twenty five percent
• 18:01
  Speaker 7: of teachers are black, then twenty five percent of the
• 18:04
  Speaker 7: capital should be managed by black fund managers. So as
• 18:09
  Speaker 7: far as that is, that is that something you to
• 18:12
  Speaker 7: talk about legislation? Is that something that is like could
• 18:14
  Speaker 7: be legislation as far as you know public funds and
• 18:20
  Speaker 7: how how would that actually work as far as that
• 18:23
  Speaker 7: is concerned.
• 18:24
  Speaker 4: No, you you hit the nail on the head. The
• 18:27
  Speaker 4: reason why is because the public sector is governed by
• 18:30
  Speaker 4: the government. So that's why I was saying policies need
• 18:34
  Speaker 4: to be put in place.
• 18:35
  Speaker 3: You gave a perfect example.
• 18:36
  Speaker 4: If twenty five percent of the teachers is black, we
• 18:39
  Speaker 4: need twenty five percent of their money going to black
• 18:41
  Speaker 4: fund managers, and not just the black fund managers, black
• 18:44
  Speaker 4: fund managers that are investing in black businesses. Just because
• 18:48
  Speaker 4: you get a black fund manager doesn't necessarily mean that
• 18:50
  Speaker 4: it's going into a black business. So we got to
• 18:52
  Speaker 4: make sure it's going all the way around. But you
• 18:56
  Speaker 4: are correct, we're going to need some policies put in place,
• 18:59
  Speaker 4: some put in place, and some minority mandates that reflect
• 19:03
  Speaker 4: the demographics of the people, even in the city, that
• 19:08
  Speaker 4: reflected the demographics of the contracts. Every city should be
• 19:12
  Speaker 4: functioning like that. Every pentry fund should be functioning like that.
• 19:16
  Speaker 4: Any public entity should be serving the people that are there.
• 19:20
  Speaker 4: It should be serving the people that are there fairly.
• 19:22
  Speaker 5: Yeah, when you're cutting checks as an angel, like, what
• 19:26
  Speaker 5: are you looking for in a startup that will make
• 19:28
  Speaker 5: you say, I have to be a part of this
• 19:30
  Speaker 5: business or they're in the industry that I'm really attracted
• 19:32
  Speaker 5: to Because I'm sure some people tonight want to be
• 19:35
  Speaker 5: able to be in contact with you or get funded
• 19:37
  Speaker 5: for the business.
• 19:37
  Speaker 2: So what are you looking for in a superstar.
• 19:40
  Speaker 4: Startup and a superstar startup? It's no different than at
• 19:45
  Speaker 4: the fund. We look at how strong the brand story
• 19:48
  Speaker 4: is because that's what we know other investors will buy into.
• 19:51
  Speaker 4: We look at how strong the product is, how strong
• 19:54
  Speaker 4: the team is, because once you sell something, can you
• 19:57
  Speaker 4: actually execute on it. We look at the traction. You know,
• 20:01
  Speaker 4: intraction can mean a lot of things. It could be
• 20:03
  Speaker 4: social media following, it could be email lists, it could
• 20:06
  Speaker 4: be sales, it could be a lot of different things.
• 20:08
  Speaker 4: But you got to be at approved traction, attraction and
• 20:10
  Speaker 4: brand story. You already got my ear. The other things
• 20:12
  Speaker 4: we have to look into further. If it's a preseat deal,
• 20:16
  Speaker 4: meaning they have no revenue. You're literally betting on the founder.
• 20:21
  Speaker 4: There is a level of I would say intuition that
• 20:25
  Speaker 4: definitely goes into this, and there are some people, in
• 20:28
  Speaker 4: my opinion who may be a little bit more rough
• 20:30
  Speaker 4: around the edges. But I'm like, if you got the
• 20:33
  Speaker 4: hustle and you got the grit, we could put some
• 20:34
  Speaker 4: corporate folks around you. Yeah, but if you got the
• 20:37
  Speaker 4: because the hustle and the grit, I can't go I
• 20:39
  Speaker 4: can't go hire.
• 20:40
  Speaker 5: I can't find that.
• 20:41
  Speaker 3: Yeah, I can't go hire that.
• 20:43
  Speaker 4: But if I know you got the tenacity that you're
• 20:45
  Speaker 4: gonna be resilient and you're gonna weather the.
• 20:47
  Speaker 3: Storm, I'm like, Okay, I can work with that.
• 20:50
  Speaker 4: But yeah, So there's a level of what's on paper
• 20:54
  Speaker 4: and there's still a level of intuition.
• 20:58
  Speaker 6: Are you able to share some of the companies that
• 20:59
  Speaker 6: you invested in. I know that there's a former alumni
• 21:03
  Speaker 6: of our show, Pinky Cold.
• 21:05
  Speaker 4: Oh yes, I definitely can, and they're even also on
• 21:08
  Speaker 4: our website Fearless That Fun. So we've invested in Slutty Vegan,
• 21:12
  Speaker 4: the Lit Bar, Partake thirteen, a whole, a lot of
• 21:15
  Speaker 4: I would say, I take pride. And when I see
• 21:17
  Speaker 4: that women of color lists pop up a lot.
• 21:20
  Speaker 3: Yeah, I mean we dominate that list.
• 21:22
  Speaker 4: So I take pride like our girls have been on
• 21:24
  Speaker 4: the cover from the Inks to the They're on everybody's
• 21:28
  Speaker 4: Forbes list.
• 21:29
  Speaker 3: They've made Time one hundred.
• 21:31
  Speaker 4: I saw Pinky just made it, but others have made
• 21:33
  Speaker 4: it too, has made the Time one hundred lists like
• 21:36
  Speaker 4: they are. These girls are rock stars. They are running
• 21:39
  Speaker 4: multimillion dollar businesses. They are growing and scaling at rapid rates.
• 21:43
  Speaker 4: They are doing awesome. I'm very proud of what we've
• 21:46
  Speaker 4: invested in.
• 21:47
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 21:51
  Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador
• 21:55
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 21:59
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 22:03
  Speaker 1: some of the heinous migrant criminals caught because of President
• 22:07
  Speaker 1: Donald J. Trump's leadership. I'm Christy Noman, the United States
• 22:10
  Speaker 1: Secretary of Homeland Security. Under President Trump, Attempted illegal border
• 22:15
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 22:19
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 22:22
  Speaker 1: are here illegally, your next you will be fine nearly
• 22:26
  Speaker 1: one thousand dollars a day. Imprisoned and deported, you will
• 22:30
  Speaker 1: never return. But if you register using our CBP home
• 22:34
  Speaker 1: app and leave now, you could be allowed to return legally.
• 22:38
  Speaker 1: Do what's right. Leave now. Under President Trump America's laws,
• 22:42
  Speaker 1: border and families will be protected.
• 22:45
  Speaker 2: Sponsored by the United States Department of Homeland Security,