Latest / Omni Talk Retail / Startup Funding Tips: VC Insights from Clarence Bethea at True Ventures

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Startup Funding Tips: VC Insights from Clarence Bethea at True Ventures · Omni Talk Retail

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  Wednesday
• 0:49
  afternoon.
• 0:50
  Hello,
• 0:50
  everyone.
• 0:50
  I
• 0:51
  am
• 0:51
  one
• 0:51
  of
• 0:51
  your
• 0:51
  co
• 0:52
  hosts
• 0:52
  for
• 0:52
  today's
• 0:52
  interviews,
• 0:53
  Chris
• 0:53
  Walton.
• 0:54
  And
• 0:54
  I'm
• 0:54
  Anne
• 0:55
  Mazinga.
• 0:56
  And
• 0:56
  we
• 0:56
  are
• 0:56
  pleased
• 0:57
  to
• 0:57
  introduce
• 0:58
  investor
• 0:58
  and
• 0:58
  executive
• 0:59
  in
• 0:59
  residence
• 1:00
  at
• 1:00
  True
• 1:00
  Ventures,
• 1:01
  Clarence
• 1:01
  Bethea.
• 1:02
  Clarence,
• 1:03
  thank
• 1:03
  you
• 1:03
  for
• 1:03
  joining
• 1:03
  us
• 1:04
  and
• 1:04
  welcome
• 1:04
  to
• 1:04
  Omnitalk.
• 1:05
  Thank
• 1:05
  you
• 1:06
  so
• 1:06
  much
• 1:06
  for
• 1:06
  having
• 1:06
  me.
• 1:08
  We're
• 1:08
  excited
• 1:08
  to
• 1:09
  have
• 1:09
  you.
• 1:09
  Thanks
• 1:09
  for
• 1:10
  taking
• 1:10
  time
• 1:10
  to
• 1:10
  join
• 1:10
  us
• 1:11
  today.
• 1:12
  I'd
• 1:12
  love
• 1:12
  to
• 1:12
  start
• 1:13
  by
• 1:13
  just
• 1:13
  giving
• 1:13
  an
• 1:14
  audience,
• 1:14
  our
• 1:14
  audience,
• 1:15
  a
• 1:15
  quick
• 1:16
  background
• 1:17
  on
• 1:17
  you,
• 1:18
  especially
• 1:18
  going
• 1:18
  from
• 1:19
  startup
• 1:19
  entrepreneur
• 1:20
  to
• 1:20
  now
• 1:20
  working
• 1:21
  for
• 1:21
  a
• 1:21
  vc.
• 1:22
  So
• 1:22
  maybe
• 1:22
  start
• 1:22
  there,
• 1:23
  if
• 1:23
  you
• 1:23
  don't
• 1:23
  mind.
• 1:24
  Yeah,
• 1:24
  so
• 1:25
  the
• 1:25
  joke
• 1:25
  I
• 1:26
  make
• 1:26
  to
• 1:26
  people
• 1:26
  is
• 1:26
  that
• 1:27
  if
• 1:28
  we
• 1:28
  go
• 1:28
  back
• 1:28
  a
• 1:28
  little
• 1:28
  bit
• 1:28
  further,
• 1:29
  I'm
• 1:29
  your
• 1:29
  most
• 1:30
  like
• 1:30
  non
• 1:30
  traditional
• 1:32
  VC
• 1:33
  founder
• 1:33
  guy
• 1:34
  that
• 1:34
  you've
• 1:34
  ever
• 1:34
  met.
• 1:36
  Why
• 1:36
  is
• 1:36
  that?
• 1:37
  You
• 1:38
  know,
• 1:38
  I,
• 1:38
  I,
• 1:38
  my
• 1:39
  background
• 1:39
  is
• 1:39
  not
• 1:40
  entrepreneurship,
• 1:41
  my
• 1:41
  background
• 1:41
  is
• 1:41
  not
• 1:42
  vc.
• 1:44
  I'm
• 1:44
  from
• 1:44
  a
• 1:44
  place
• 1:45
  called
• 1:45
  Decatur,
• 1:45
  Georgia,
• 1:46
  right
• 1:46
  outside
• 1:46
  Atlanta.
• 1:47
  And
• 1:48
  my
• 1:48
  whole
• 1:49
  background
• 1:49
  was
• 1:50
  doing
• 1:50
  all
• 1:50
  the
• 1:51
  wrong
• 1:51
  things.
• 1:51
  And
• 1:52
  so
• 1:52
  I,
• 1:53
  I,
• 1:53
  I,
• 1:53
  I,
• 1:54
  as
• 1:54
  a
• 1:55
  young
• 1:55
  adult,
• 1:55
  I
• 1:55
  met
• 1:56
  the
• 1:56
  CEO
• 1:56
  of
• 1:56
  Best
• 1:57
  Buy
• 1:57
  who
• 1:58
  changed
• 1:58
  my
• 1:58
  life.
• 1:59
  And
• 2:00
  you
• 2:00
  know,
• 2:00
  that
• 2:00
  is
• 2:01
  how
• 2:01
  I
• 2:01
  kind
• 2:01
  of
• 2:01
  got
• 2:01
  to
• 2:02
  where
• 2:02
  I'm
• 2:02
  at
• 2:02
  today.
• 2:03
  Oh,
• 2:03
  my
• 2:03
  God.
• 2:04
  Tell
• 2:04
  us
• 2:04
  a
• 2:04
  little
• 2:04
  bit
• 2:04
  about
• 2:04
  that
• 2:05
  story,
• 2:05
  Clarence,
• 2:05
  if
• 2:05
  you
• 2:06
  don't
• 2:06
  mind.
• 2:06
  Give
• 2:07
  the
• 2:07
  audience
• 2:07
  the
• 2:07
  quick
• 2:08
  snippet
• 2:08
  because
• 2:08
  I
• 2:08
  heard
• 2:09
  it
• 2:09
  when
• 2:09
  I
• 2:09
  first
• 2:09
  met
• 2:09
  you
• 2:09
  and
• 2:10
  I
• 2:10
  think
• 2:10
  it's
• 2:10
  a
• 2:10
  great
• 2:11
  introduction
• 2:11
  to
• 2:11
  you
• 2:11
  for,
• 2:12
  for
• 2:12
  the
• 2:12
  audience.
• 2:13
  Yeah.
• 2:13
  So,
• 2:13
  yeah,
• 2:14
  I'm
• 2:14
  from
• 2:14
  the
• 2:14
  streets
• 2:14
  of
• 2:15
  the
• 2:15
  K,
• 2:15
  Georgia,
• 2:15
  grew
• 2:16
  up
• 2:16
  doing
• 2:16
  all
• 2:16
  the
• 2:16
  wrong
• 2:17
  things,
• 2:18
  in
• 2:18
  and
• 2:18
  out
• 2:18
  of
• 2:19
  juvenile,
• 2:19
  in
• 2:19
  and
• 2:19
  out
• 2:20
  of
• 2:20
  jail,
• 2:20
  just
• 2:20
  making
• 2:21
  all
• 2:21
  the
• 2:21
  mistakes
• 2:21
  that
• 2:22
  a
• 2:22
  young
• 2:22
  man
• 2:22
  from
• 2:23
  that
• 2:23
  area
• 2:23
  of
• 2:23
  the
• 2:24
  town
• 2:24
  makes.
• 2:25
  And
• 2:26
  in
• 2:26
  my
• 2:26
  late
• 2:26
  20s,
• 2:27
  I
• 2:27
  was
• 2:27
  working
• 2:27
  at
• 2:27
  a
• 2:27
  basketball
• 2:28
  gym.
• 2:29
  And
• 2:29
  just
• 2:29
  by
• 2:30
  having
• 2:30
  chance,
• 2:31
  the
• 2:32
  COO
• 2:33
  who
• 2:33
  ended
• 2:33
  up
• 2:33
  becoming
• 2:33
  CEO
• 2:34
  of
• 2:34
  Best
• 2:34
  Buy
• 2:35
  took
• 2:35
  a
• 2:36
  liking
• 2:36
  to
• 2:36
  me.
• 2:36
  And
• 2:37
  we
• 2:37
  met
• 2:38
  and
• 2:38
  he
• 2:38
  said
• 2:39
  he
• 2:39
  wanted
• 2:39
  to
• 2:39
  mentor
• 2:39
  me.
• 2:40
  And
• 2:41
  it
• 2:42
  just
• 2:42
  gave
• 2:42
  me
• 2:42
  a
• 2:42
  lot
• 2:42
  of
• 2:43
  confidence
• 2:43
  into
• 2:44
  what
• 2:44
  I
• 2:44
  thought
• 2:44
  I
• 2:45
  could
• 2:45
  become
• 2:45
  as
• 2:45
  a
• 2:46
  young
• 2:46
  man.
• 2:46
  And.
• 2:47
  And,
• 2:47
  you
• 2:47
  know,
• 2:47
  that
• 2:48
  relationship
• 2:48
  spanned
• 2:49
  it
• 2:49
  for
• 2:49
  about
• 2:49
  eight
• 2:49
  years.
• 2:50
  And
• 2:50
  he
• 2:50
  just
• 2:51
  gave
• 2:51
  me
• 2:51
  experiences.
• 2:51
  I
• 2:52
  say
• 2:52
  that
• 2:52
  was
• 2:53
  a
• 2:53
  real
• 2:53
  life
• 2:54
  MBA
• 2:54
  experience,
• 2:55
  you
• 2:55
  know,
• 2:55
  happening
• 2:56
  every
• 2:56
  day.
• 2:57
  And
• 2:58
  that
• 2:58
  led
• 2:58
  me
• 2:58
  to
• 2:58
  starting
• 2:59
  my
• 2:59
  own
• 2:59
  company.
• 3:00
  And
• 3:00
  that
• 3:00
  company
• 3:01
  doing.
• 3:01
  Doing
• 3:01
  all
• 3:02
  right.
• 3:02
  And
• 3:02
  I
• 3:02
  ended
• 3:03
  up
• 3:03
  here,
• 3:03
  where
• 3:03
  I'm
• 3:03
  at
• 3:03
  today,
• 3:03
  being
• 3:04
  a
• 3:04
  vc.
• 3:05
  And
• 3:05
  what
• 3:05
  was
• 3:06
  that
• 3:06
  company,
• 3:06
  Clarence?
• 3:07
  What
• 3:07
  was
• 3:07
  that
• 3:07
  company?
• 3:07
  What
• 3:07
  did
• 3:07
  it
• 3:08
  do?
• 3:08
  What
• 3:08
  does
• 3:08
  it
• 3:08
  do?
• 3:09
  Yeah,
• 3:09
  so
• 3:10
  the
• 3:10
  company
• 3:10
  called
• 3:11
  Upsie.
• 3:11
  So
• 3:11
  I'm
• 3:11
  sure
• 3:12
  you
• 3:12
  both
• 3:12
  walked
• 3:12
  into
• 3:13
  a
• 3:14
  Best
• 3:14
  Buy,
• 3:14
  you
• 3:14
  check
• 3:15
  out,
• 3:15
  and
• 3:15
  at
• 3:15
  the
• 3:16
  register,
• 3:16
  they
• 3:16
  say,
• 3:16
  hey,
• 3:16
  would
• 3:17
  you
• 3:17
  like
• 3:17
  a
• 3:17
  warranty
• 3:17
  with
• 3:18
  this,
• 3:18
  with
• 3:18
  this
• 3:18
  product?
• 3:19
  Well,
• 3:19
  what
• 3:20
  most
• 3:20
  consumers
• 3:20
  don't
• 3:21
  understand
• 3:21
  is
• 3:21
  that
• 3:21
  that
• 3:22
  warranty
• 3:22
  is
• 3:22
  marked
• 3:22
  up
• 3:23
  as
• 3:23
  much
• 3:23
  as
• 3:23
  900%.
• 3:24
  So
• 3:25
  you
• 3:25
  could
• 3:25
  buy
• 3:25
  the
• 3:25
  warranty
• 3:26
  for
• 3:26
  $400
• 3:26
  and
• 3:27
  it
• 3:27
  could
• 3:27
  cost
• 3:27
  $50
• 3:27
  from
• 3:28
  the
• 3:28
  insurance
• 3:28
  company.
• 3:29
  And
• 3:30
  I
• 3:30
  saw
• 3:30
  that
• 3:30
  problem,
• 3:31
  you
• 3:31
  know,
• 3:31
  in
• 3:31
  the
• 3:31
  early
• 3:32
  2010s,
• 3:33
  and
• 3:33
  said,
• 3:33
  hey,
• 3:34
  what
• 3:34
  if
• 3:34
  we
• 3:34
  created
• 3:34
  a
• 3:34
  product
• 3:35
  that
• 3:35
  made
• 3:35
  it
• 3:35
  more
• 3:36
  affordable,
• 3:36
  more
• 3:36
  transparent,
• 3:37
  and
• 3:38
  made
• 3:38
  its
• 3:38
  service
• 3:39
  much
• 3:39
  better
• 3:39
  for
• 3:40
  consumers?
• 3:41
  And
• 3:41
  I
• 3:41
  started
• 3:41
  the
• 3:42
  company.
• 3:42
  I
• 3:43
  had
• 3:43
  no
• 3:43
  clue
• 3:43
  about
• 3:43
  starting
• 3:43
  a
• 3:44
  company.
• 3:44
  I
• 3:44
  had
• 3:44
  no
• 3:44
  clue
• 3:45
  what
• 3:45
  pack
• 3:45
  or
• 3:46
  LTV
• 3:46
  or
• 3:47
  any
• 3:48
  of
• 3:48
  that
• 3:48
  meant.
• 3:48
  What
• 3:48
  I.
• 3:49
  All
• 3:49
  I
• 3:49
  knew
• 3:49
  was
• 3:49
  that
• 3:50
  I
• 3:50
  wanted
• 3:50
  to
• 3:50
  create
• 3:51
  something
• 3:51
  that
• 3:51
  felt
• 3:51
  like
• 3:52
  it
• 3:52
  was
• 3:52
  benefiting
• 3:52
  the
• 3:53
  consumer.
• 3:54
  And
• 3:54
  that
• 3:54
  led
• 3:54
  me
• 3:54
  to
• 3:54
  Upsie.
• 3:55
  And,
• 3:55
  you
• 3:56
  know,
• 3:56
  we
• 3:56
  raised
• 3:56
  over
• 3:56
  $30
• 3:57
  million
• 3:57
  in
• 3:57
  venture
• 3:57
  capital.
• 3:58
  We
• 3:59
  exited
• 3:59
  the
• 3:59
  company
• 4:00
  last
• 4:00
  year,
• 4:01
  and
• 4:01
  that's
• 4:01
  led
• 4:01
  me
• 4:02
  to
• 4:02
  the
• 4:03
  VC
• 4:03
  side
• 4:03
  of
• 4:03
  the
• 4:03
  table.
• 4:05
  Yeah,
• 4:05
  it's
• 4:05
  kind
• 4:05
  of
• 4:05
  a
• 4:05
  baptism
• 4:06
  by
• 4:06
  fire
• 4:06
  then
• 4:07
  into
• 4:07
  entrepreneurship
• 4:08
  and
• 4:08
  the
• 4:08
  VC
• 4:08
  world.
• 4:09
  So.
• 4:09
  All
• 4:09
  right,
• 4:09
  so
• 4:10
  then.
• 4:10
  So
• 4:10
  you
• 4:10
  mentioned.
• 4:10
  So,
• 4:11
  so
• 4:11
  now
• 4:11
  you've
• 4:11
  linked
• 4:11
  up
• 4:11
  with
• 4:12
  True
• 4:12
  Ventures.
• 4:12
  You're
• 4:13
  kind
• 4:13
  of
• 4:13
  an
• 4:13
  executive
• 4:14
  in
• 4:14
  residence
• 4:15
  as
• 4:15
  well
• 4:15
  as
• 4:15
  an
• 4:15
  investor.
• 4:16
  So.
• 4:16
  So
• 4:17
  tell
• 4:17
  us
• 4:17
  about
• 4:18
  True
• 4:18
  Ventures
• 4:18
  first.
• 4:18
  And
• 4:19
  then
• 4:19
  also
• 4:19
  I
• 4:19
  want
• 4:19
  to
• 4:19
  know,
• 4:20
  like,
• 4:20
  where
• 4:20
  does
• 4:20
  it
• 4:20
  focus
• 4:21
  its
• 4:21
  investments
• 4:22
  and
• 4:22
  how
• 4:22
  do
• 4:23
  you
• 4:23
  help
• 4:23
  with
• 4:23
  that?
• 4:24
  Yeah,
• 4:24
  so
• 4:25
  True
• 4:25
  Ventures
• 4:25
  have
• 4:26
  been
• 4:26
  around
• 4:26
  since
• 4:26
  2005.
• 4:28
  Our
• 4:29
  founders
• 4:29
  are
• 4:29
  still
• 4:29
  very,
• 4:30
  very,
• 4:30
  very
• 4:30
  active
• 4:31
  today.
• 4:32
  We
• 4:32
  are
• 4:33
  re
• 4:33
  industry
• 4:34
  agnostic.
• 4:35
  So
• 4:35
  we
• 4:36
  invest
• 4:36
  across
• 4:37
  everything.
• 4:37
  So
• 4:38
  you
• 4:39
  can
• 4:39
  say
• 4:39
  we
• 4:40
  got
• 4:40
  people
• 4:40
  making
• 4:40
  meat
• 4:41
  in
• 4:41
  bags
• 4:42
  and
• 4:42
  growing
• 4:42
  meat
• 4:43
  all
• 4:43
  the
• 4:43
  way
• 4:43
  to
• 4:43
  your
• 4:44
  kind
• 4:44
  of
• 4:44
  your
• 4:44
  stereotypical
• 4:45
  SaaS
• 4:45
  companies.
• 4:46
  Some
• 4:47
  of
• 4:47
  our
• 4:47
  companies,
• 4:48
  Peloton,
• 4:49
  Fitbit,
• 4:50
  Duo
• 4:51
  Security,
• 4:51
  Hashicorp,
• 4:53
  Goodreads,
• 4:53
  those
• 4:54
  are
• 4:54
  some
• 4:54
  companies
• 4:54
  where
• 4:54
  we
• 4:55
  were
• 4:55
  very,
• 4:55
  very
• 4:55
  early
• 4:56
  into
• 4:56
  those
• 4:56
  companies.
• 4:57
  So
• 4:57
  we
• 4:57
  had
• 4:58
  a
• 4:58
  lot
• 4:58
  of
• 4:58
  wins.
• 4:59
  But
• 4:59
  we
• 4:59
  are
• 4:59
  on
• 5:00
  a
• 5:00
  new,
• 5:00
  exciting
• 5:01
  trail
• 5:01
  with
• 5:01
  AI.
• 5:03
  Our
• 5:03
  latest
• 5:03
  fund
• 5:04
  was
• 5:04
  close
• 5:04
  to
• 5:04
  $900
• 5:05
  million.
• 5:06
  So
• 5:06
  that
• 5:06
  is
• 5:06
  all
• 5:06
  seed
• 5:07
  stage
• 5:08
  investing.
• 5:09
  So
• 5:09
  1
• 5:09
  to
• 5:10
  4
• 5:10
  ish
• 5:10
  million
• 5:10
  dollar
• 5:11
  checks
• 5:11
  into
• 5:12
  the
• 5:12
  future
• 5:13
  of,
• 5:13
  of,
• 5:13
  of
• 5:13
  entrepreneurship.
• 5:14
  And
• 5:14
  so
• 5:14
  we,
• 5:15
  we
• 5:15
  have
• 5:15
  a
• 5:15
  team
• 5:15
  of
• 5:16
  about
• 5:16
  50
• 5:16
  people,
• 5:17
  25
• 5:17
  of
• 5:17
  those
• 5:18
  people
• 5:18
  are
• 5:18
  on
• 5:18
  the
• 5:18
  investment
• 5:19
  team
• 5:19
  with,
• 5:19
  with,
• 5:19
  with
• 5:20
  me.
• 5:20
  And
• 5:21
  we
• 5:21
  really
• 5:21
  just
• 5:21
  try
• 5:21
  to
• 5:22
  make
• 5:22
  sure
• 5:22
  we
• 5:22
  focus
• 5:22
  on
• 5:23
  people
• 5:23
  and
• 5:24
  then
• 5:24
  the,
• 5:24
  the,
• 5:24
  you
• 5:24
  know,
• 5:25
  the
• 5:25
  business
• 5:25
  stuff
• 5:25
  will
• 5:25
  work
• 5:25
  itself
• 5:26
  out.
• 5:27
  Well,
• 5:27
  Clarence,
• 5:28
  you
• 5:28
  mentioned
• 5:28
  AI
• 5:29
  being
• 5:29
  a
• 5:29
  focus,
• 5:29
  but
• 5:30
  are
• 5:30
  there
• 5:30
  any
• 5:31
  other
• 5:31
  areas
• 5:31
  that
• 5:31
  are
• 5:32
  kind
• 5:32
  of,
• 5:32
  of
• 5:32
  particular
• 5:33
  interest
• 5:33
  right
• 5:33
  now
• 5:34
  or
• 5:34
  maybe
• 5:34
  like
• 5:35
  on
• 5:35
  the
• 5:35
  flip
• 5:35
  side,
• 5:35
  anything
• 5:36
  that
• 5:36
  you're
• 5:36
  not
• 5:37
  interested
• 5:37
  in
• 5:38
  investing
• 5:38
  in
• 5:38
  or
• 5:38
  that
• 5:39
  true
• 5:39
  ven.
• 5:40
  Like
• 5:40
  staying
• 5:41
  away
• 5:41
  from?
• 5:42
  Yeah,
• 5:42
  so
• 5:42
  we,
• 5:42
  we
• 5:43
  believe,
• 5:43
  and
• 5:44
  one
• 5:44
  of
• 5:44
  our
• 5:44
  partners
• 5:45
  Rohit
• 5:46
  said
• 5:46
  this,
• 5:47
  we
• 5:47
  believe
• 5:47
  that
• 5:47
  AI
• 5:48
  is
• 5:48
  going
• 5:48
  to
• 5:48
  infiltrate
• 5:49
  every
• 5:49
  single
• 5:49
  industry.
• 5:50
  So
• 5:51
  today
• 5:51
  if
• 5:51
  you're
• 5:51
  not
• 5:51
  working
• 5:52
  with
• 5:52
  AI,
• 5:52
  if
• 5:53
  you're
• 5:53
  not
• 5:53
  thinking
• 5:53
  about
• 5:54
  how
• 5:54
  AI
• 5:54
  will
• 5:54
  affect
• 5:55
  your
• 5:55
  business
• 5:55
  in
• 5:55
  the
• 5:55
  future,
• 5:57
  I,
• 5:57
  I
• 5:58
  don't
• 5:58
  know
• 5:58
  if
• 5:58
  we're
• 5:58
  very
• 5:58
  interested.
• 5:59
  Right.
• 5:59
  So
• 6:00
  because
• 6:01
  it
• 6:01
  could
• 6:01
  be
• 6:01
  the
• 6:01
  most
• 6:01
  boring
• 6:02
  business
• 6:03
  and
• 6:03
  AI
• 6:03
  is
• 6:03
  going
• 6:04
  to
• 6:04
  play
• 6:04
  a
• 6:04
  huge
• 6:04
  role
• 6:05
  in
• 6:05
  how
• 6:05
  that
• 6:05
  business
• 6:05
  move
• 6:06
  forward.
• 6:07
  So
• 6:07
  you
• 6:07
  have
• 6:07
  to
• 6:08
  be
• 6:08
  looking
• 6:08
  at
• 6:08
  AI
• 6:09
  in
• 6:09
  all
• 6:09
  of
• 6:09
  the
• 6:09
  pitches
• 6:10
  you're
• 6:10
  getting
• 6:11
  or
• 6:11
  the
• 6:11
  companies
• 6:11
  need
• 6:11
  to
• 6:11
  be
• 6:12
  in
• 6:12
  the
• 6:12
  pitches
• 6:12
  you're
• 6:12
  getting.
• 6:12
  The
• 6:13
  companies
• 6:13
  have
• 6:13
  to
• 6:13
  be
• 6:13
  looking
• 6:13
  at
• 6:13
  AI
• 6:14
  because
• 6:14
  it's
• 6:15
  such
• 6:15
  a
• 6:15
  disruptive
• 6:16
  technology
• 6:17
  that
• 6:17
  if
• 6:17
  you're
• 6:18
  not
• 6:18
  accounting
• 6:18
  for
• 6:18
  it,
• 6:18
  you
• 6:19
  could
• 6:19
  be
• 6:19
  obsoleted
• 6:20
  down
• 6:20
  the
• 6:20
  road.
• 6:20
  Is
• 6:21
  that
• 6:21
  right?
• 6:21
  Totally.
• 6:22
  I
• 6:22
  mean
• 6:22
  even
• 6:22
  if
• 6:23
  you're
• 6:23
  not
• 6:23
  technically
• 6:24
  an
• 6:24
  AI
• 6:25
  company
• 6:25
  today,
• 6:26
  but
• 6:26
  if
• 6:26
  you're
• 6:26
  not
• 6:26
  looking
• 6:26
  at
• 6:27
  AI
• 6:27
  tools
• 6:27
  that
• 6:27
  can
• 6:28
  make
• 6:28
  your
• 6:28
  business
• 6:28
  more
• 6:28
  efficient,
• 6:29
  you
• 6:29
  know,
• 6:29
  we
• 6:29
  have
• 6:29
  a
• 6:29
  company
• 6:30
  in
• 6:30
  our
• 6:30
  portfolio,
• 6:31
  one
• 6:31
  of
• 6:32
  the
• 6:32
  largest
• 6:32
  beauty
• 6:32
  brands
• 6:33
  in
• 6:33
  the
• 6:33
  world.
• 6:34
  They
• 6:35
  are
• 6:35
  using
• 6:36
  AI
• 6:36
  to
• 6:37
  help
• 6:37
  with
• 6:37
  customer
• 6:37
  service
• 6:38
  and
• 6:39
  it
• 6:39
  is
• 6:39
  showing
• 6:40
  like
• 6:40
  major,
• 6:40
  major
• 6:41
  savings
• 6:41
  and
• 6:42
  efficiency
• 6:42
  for
• 6:42
  the
• 6:43
  business.
• 6:43
  So
• 6:44
  even
• 6:44
  if
• 6:44
  you're
• 6:44
  not
• 6:44
  an
• 6:44
  AI
• 6:45
  native
• 6:46
  business,
• 6:46
  you
• 6:46
  should
• 6:46
  be
• 6:47
  thinking
• 6:47
  about
• 6:47
  how
• 6:47
  AI
• 6:48
  plays
• 6:48
  a
• 6:48
  role
• 6:48
  in
• 6:48
  helping
• 6:49
  you
• 6:49
  become
• 6:49
  more
• 6:49
  efficient
• 6:50
  as
• 6:50
  a
• 6:50
  business.
• 6:51
  Yeah,
• 6:51
  it's
• 6:52
  almost
• 6:52
  like
• 6:52
  you
• 6:52
  need
• 6:52
  to
• 6:52
  say
• 6:53
  like
• 6:53
  you're
• 6:53
  staying
• 6:54
  out.
• 6:54
  Like
• 6:55
  the
• 6:55
  more
• 6:55
  notable
• 6:56
  thing
• 6:56
  is
• 6:56
  maybe
• 6:56
  if
• 6:57
  you're
• 6:57
  not
• 6:57
  using
• 6:57
  AI,
• 6:58
  like
• 6:58
  you're
• 6:58
  a
• 6:58
  homegrown,
• 6:59
  like
• 7:00
  you're
• 7:00
  growing
• 7:00
  meat
• 7:00
  in
• 7:00
  a
• 7:01
  bag
• 7:01
  or
• 7:01
  something.
• 7:02
  Like
• 7:02
  you
• 7:02
  said,
• 7:02
  said
• 7:02
  like
• 7:03
  this
• 7:03
  is
• 7:03
  something
• 7:04
  where
• 7:04
  you
• 7:04
  would
• 7:04
  call
• 7:04
  that
• 7:04
  out
• 7:05
  more
• 7:05
  than
• 7:05
  like
• 7:06
  every.
• 7:06
  It
• 7:06
  just
• 7:06
  should
• 7:06
  just
• 7:07
  be
• 7:07
  assumed
• 7:07
  at
• 7:07
  this
• 7:07
  point
• 7:08
  that
• 7:08
  you're
• 7:08
  using
• 7:08
  AI
• 7:09
  if
• 7:09
  you
• 7:09
  are
• 7:09
  looking
• 7:10
  for
• 7:10
  investment.
• 7:11
  Exactly.
• 7:12
  Yep.
• 7:12
  You
• 7:12
  can
• 7:13
  probably
• 7:13
  even
• 7:13
  figure
• 7:13
  out
• 7:14
  a
• 7:14
  way
• 7:14
  to
• 7:14
  use
• 7:14
  AI
• 7:14
  for
• 7:14
  meat
• 7:15
  in
• 7:15
  a
• 7:15
  bag
• 7:15
  too.
• 7:16
  I
• 7:16
  know.
• 7:16
  As
• 7:16
  I
• 7:16
  was
• 7:17
  saying
• 7:17
  that
• 7:17
  I
• 7:17
  was
• 7:17
  like
• 7:18
  this
• 7:18
  is
• 7:18
  probably
• 7:18
  ridiculous.
• 7:19
  There's
• 7:19
  many
• 7:19
  ways
• 7:19
  you
• 7:20
  could
• 7:20
  probably
• 7:20
  see
• 7:20
  efficiencies
• 7:21
  there
• 7:21
  too
• 7:22
  in
• 7:22
  today's
• 7:22
  day
• 7:23
  world.
• 7:23
  So.
• 7:23
  So
• 7:23
  then
• 7:23
  True
• 7:24
  Ventures.
• 7:24
  So
• 7:24
  the
• 7:24
  idea
• 7:24
  then
• 7:25
  with
• 7:25
  that
• 7:25
  fund
• 7:25
  you
• 7:25
  mentioned
• 7:26
  is
• 7:26
  like
• 7:26
  really
• 7:26
  seed
• 7:27
  stage
• 7:27
  getting
• 7:28
  in
• 7:28
  early
• 7:29
  and
• 7:29
  investing
• 7:30
  early
• 7:30
  to
• 7:30
  find
• 7:31
  the
• 7:31
  next
• 7:31
  companies
• 7:31
  that
• 7:31
  will
• 7:32
  break
• 7:32
  through
• 7:32
  in
• 7:32
  that
• 7:32
  AI
• 7:33
  space.
• 7:34
  Yeah.
• 7:34
  So
• 7:34
  we're
• 7:35
  one
• 7:35
  of
• 7:35
  the
• 7:35
  few,
• 7:35
  like
• 7:36
  true,
• 7:36
  true
• 7:38
  C
• 7:38
  stages.
• 7:39
  Like
• 7:39
  we're
• 7:39
  not
• 7:39
  a
• 7:40
  big
• 7:41
  fund
• 7:42
  that
• 7:42
  says
• 7:42
  we're
• 7:42
  going
• 7:42
  to
• 7:42
  invest
• 7:43
  across
• 7:43
  all
• 7:44
  of
• 7:44
  the
• 7:44
  stages.
• 7:45
  We're
• 7:45
  really
• 7:46
  focused
• 7:46
  on
• 7:46
  that
• 7:47
  early
• 7:47
  stage.
• 7:47
  And
• 7:48
  I
• 7:48
  think
• 7:48
  what
• 7:49
  that
• 7:49
  allows
• 7:49
  us
• 7:49
  is
• 7:50
  it
• 7:50
  allows
• 7:50
  us
• 7:51
  a
• 7:52
  breadth
• 7:52
  of
• 7:52
  knowledge
• 7:53
  that
• 7:53
  a
• 7:53
  lot
• 7:53
  of
• 7:53
  people
• 7:54
  don't
• 7:54
  have
• 7:55
  because
• 7:55
  we've
• 7:55
  been
• 7:55
  at
• 7:55
  the
• 7:56
  early
• 7:56
  stages.
• 7:56
  So
• 7:57
  we
• 7:57
  have
• 7:57
  a
• 7:57
  sympathy,
• 7:58
  a
• 7:58
  sense
• 7:58
  of
• 7:59
  empathy
• 8:00
  that
• 8:00
  a
• 8:00
  lot
• 8:00
  of
• 8:00
  people
• 8:01
  just
• 8:01
  don't
• 8:01
  have
• 8:01
  the
• 8:01
  early
• 8:01
  stage,
• 8:02
  like
• 8:02
  you.
• 8:02
  You
• 8:03
  don't
• 8:03
  need
• 8:03
  to
• 8:03
  come
• 8:03
  to
• 8:03
  us
• 8:03
  and
• 8:04
  tell
• 8:04
  us
• 8:04
  you're
• 8:04
  CAC
• 8:04
  and
• 8:04
  ltv,
• 8:05
  because
• 8:05
  we
• 8:05
  know.
• 8:05
  You
• 8:06
  should
• 8:06
  know
• 8:06
  it.
• 8:07
  Right.
• 8:09
  You
• 8:09
  shouldn't
• 8:09
  know
• 8:09
  it.
• 8:10
  Right,
• 8:11
  Right.
• 8:12
  Yeah.
• 8:12
  There's
• 8:13
  a
• 8:13
  lot
• 8:13
  of
• 8:13
  businesses
• 8:13
  who
• 8:13
  come
• 8:13
  to
• 8:14
  us
• 8:14
  and
• 8:14
  they
• 8:14
  are,
• 8:16
  they
• 8:17
  don't
• 8:17
  have
• 8:18
  the
• 8:18
  product
• 8:18
  flushed
• 8:19
  out
• 8:19
  or
• 8:19
  they
• 8:19
  don't
• 8:19
  have
• 8:20
  the
• 8:20
  team
• 8:20
  flushed
• 8:21
  out
• 8:21
  or
• 8:21
  we're
• 8:22
  not
• 8:22
  asking
• 8:22
  them
• 8:22
  for
• 8:23
  five
• 8:23
  years
• 8:23
  projections
• 8:24
  because
• 8:24
  we
• 8:24
  understand
• 8:25
  right
• 8:25
  now
• 8:26
  is
• 8:26
  you're
• 8:26
  making
• 8:26
  a
• 8:27
  bet
• 8:27
  on
• 8:27
  the
• 8:27
  founder
• 8:28
  and
• 8:28
  CEO.
• 8:29
  Got
• 8:30
  it.
• 8:30
  And
• 8:30
  hence
• 8:30
  the
• 8:30
  role
• 8:30
  you're
• 8:31
  playing.
• 8:31
  So
• 8:32
  back
• 8:32
  down's
• 8:32
  question
• 8:32
  that
• 8:33
  is
• 8:33
  there,
• 8:33
  are
• 8:33
  there
• 8:33
  any
• 8:34
  areas
• 8:34
  that
• 8:34
  you,
• 8:35
  that,
• 8:35
  that
• 8:36
  you
• 8:36
  and
• 8:36
  True
• 8:36
  Ventures
• 8:36
  are
• 8:37
  particularly
• 8:37
  staying
• 8:37
  away
• 8:38
  from
• 8:38
  right
• 8:38
  now
• 8:39
  too?
• 8:40
  No.
• 8:41
  You
• 8:41
  know
• 8:41
  the
• 8:41
  joke
• 8:42
  I
• 8:42
  make
• 8:42
  internally
• 8:43
  that
• 8:43
  if
• 8:43
  you
• 8:44
  put
• 8:44
  AI
• 8:44
  in
• 8:44
  front
• 8:45
  of
• 8:45
  anything,
• 8:45
  like
• 8:45
  I'm
• 8:45
  making
• 8:46
  AI
• 8:46
  loaves
• 8:46
  of
• 8:47
  bread,
• 8:47
  we'll
• 8:47
  take
• 8:48
  a
• 8:48
  look.
• 8:52
  It'Ll
• 8:52
  get
• 8:52
  a
• 8:53
  review.
• 8:53
  That's
• 8:53
  what
• 8:53
  you're
• 8:53
  telling
• 8:54
  me.
• 8:54
  All
• 8:54
  right,
• 8:54
  listening.
• 8:55
  Yeah.
• 8:55
  Hence
• 8:56
  why
• 8:56
  we
• 8:56
  see
• 8:56
  AI
• 8:57
  on
• 8:57
  every
• 8:57
  company's
• 8:58
  name
• 8:58
  out
• 8:58
  there
• 8:59
  right
• 8:59
  now.
• 8:59
  Right.
• 8:59
  So.
• 9:00
  All
• 9:00
  right.
• 9:00
  So
• 9:01
  one
• 9:01
  other
• 9:01
  topic
• 9:01
  that
• 9:01
  I
• 9:02
  want
• 9:02
  to
• 9:02
  talk
• 9:02
  to
• 9:02
  you
• 9:02
  about
• 9:02
  too,
• 9:02
  and
• 9:02
  I
• 9:03
  know
• 9:03
  it's
• 9:03
  something
• 9:03
  you're
• 9:03
  particularly
• 9:04
  passionate
• 9:04
  about,
• 9:05
  is
• 9:06
  inspiring
• 9:07
  people
• 9:07
  to
• 9:07
  be
• 9:08
  successful.
• 9:08
  And
• 9:08
  you've
• 9:09
  kind
• 9:09
  of
• 9:09
  touched
• 9:09
  on
• 9:09
  it
• 9:09
  a
• 9:09
  little
• 9:10
  bit
• 9:10
  there
• 9:10
  in
• 9:10
  your
• 9:10
  last
• 9:10
  answer
• 9:11
  too,
• 9:11
  in
• 9:11
  terms
• 9:11
  of
• 9:11
  helping
• 9:11
  those
• 9:12
  early
• 9:12
  stage
• 9:12
  entrepreneurs
• 9:13
  understand,
• 9:14
  you
• 9:14
  know,
• 9:14
  what,
• 9:15
  what
• 9:15
  the
• 9:15
  whole
• 9:15
  starting
• 9:16
  a
• 9:16
  business
• 9:16
  is
• 9:16
  all
• 9:16
  about.
• 9:17
  So,
• 9:17
  so
• 9:17
  I'm
• 9:17
  curious,
• 9:18
  I
• 9:18
  want
• 9:18
  to
• 9:18
  get
• 9:18
  more
• 9:18
  into
• 9:19
  that.
• 9:19
  So
• 9:19
  how
• 9:19
  do
• 9:20
  you
• 9:20
  approach
• 9:20
  doing
• 9:21
  that
• 9:21
  in
• 9:21
  your
• 9:21
  day
• 9:22
  to
• 9:22
  day
• 9:22
  job
• 9:22
  now?
• 9:23
  I,
• 9:24
  I
• 9:24
  think
• 9:24
  it
• 9:24
  goes
• 9:24
  back
• 9:24
  to
• 9:25
  empathy.
• 9:25
  Right.
• 9:26
  Like
• 9:26
  being
• 9:27
  a
• 9:27
  former
• 9:27
  founder,
• 9:28
  having
• 9:28
  gone
• 9:28
  through
• 9:29
  the
• 9:29
  trenches
• 9:29
  of,
• 9:30
  you
• 9:30
  know,
• 9:31
  before
• 9:31
  I
• 9:31
  got
• 9:31
  my
• 9:31
  first.
• 9:32
  Yes,
• 9:32
  an
• 9:32
  investor
• 9:33
  check,
• 9:33
  I
• 9:33
  had
• 9:34
  to
• 9:34
  pitch
• 9:34
  153
• 9:35
  notes.
• 9:36
  So
• 9:37
  when
• 9:37
  you
• 9:37
  go
• 9:38
  through
• 9:38
  that
• 9:38
  journey
• 9:38
  and
• 9:38
  you
• 9:39
  understand
• 9:39
  what
• 9:39
  that
• 9:39
  journey
• 9:39
  looks
• 9:40
  like
• 9:40
  there's
• 9:40
  a
• 9:40
  simple
• 9:41
  sense
• 9:41
  of
• 9:41
  empathy
• 9:42
  that
• 9:42
  I
• 9:42
  think
• 9:42
  I
• 9:43
  just
• 9:43
  have.
• 9:44
  And
• 9:44
  so
• 9:44
  I
• 9:44
  try
• 9:45
  to
• 9:45
  do
• 9:45
  two
• 9:45
  things
• 9:45
  with
• 9:46
  founders.
• 9:46
  I
• 9:46
  try
• 9:46
  to
• 9:46
  be
• 9:47
  empathetic
• 9:47
  and
• 9:48
  I
• 9:48
  try
• 9:48
  to
• 9:48
  be
• 9:48
  honest
• 9:49
  because
• 9:49
  I
• 9:49
  think
• 9:49
  both
• 9:50
  in
• 9:50
  VC
• 9:50
  are
• 9:51
  missing.
• 9:51
  People
• 9:52
  often
• 9:52
  don't
• 9:53
  tell
• 9:53
  you
• 9:53
  the
• 9:53
  truth
• 9:53
  because
• 9:54
  they
• 9:54
  don't
• 9:54
  want
• 9:54
  to
• 9:54
  hurt
• 9:54
  your
• 9:54
  feelings
• 9:55
  and
• 9:55
  then
• 9:55
  not
• 9:56
  have
• 9:56
  a
• 9:56
  chance
• 9:56
  to
• 9:56
  invest
• 9:56
  in
• 9:57
  you
• 9:57
  later
• 9:57
  if
• 9:57
  you
• 9:57
  blow
• 9:58
  up.
• 9:59
  Empathy
• 10:00
  comes
• 10:00
  from,
• 10:00
  you
• 10:00
  know,
• 10:00
  having
• 10:01
  gone
• 10:01
  through
• 10:01
  it.
• 10:02
  And
• 10:02
  so
• 10:03
  that
• 10:03
  is
• 10:04
  where
• 10:04
  I
• 10:04
  find
• 10:04
  myself
• 10:05
  a
• 10:05
  lot
• 10:05
  of
• 10:05
  times
• 10:05
  with
• 10:06
  founders
• 10:06
  and
• 10:06
  even
• 10:07
  with,
• 10:07
  you
• 10:07
  know,
• 10:07
  VCs,
• 10:08
  like,
• 10:08
  hey,
• 10:08
  we
• 10:08
  need
• 10:09
  to
• 10:09
  make
• 10:09
  sure
• 10:09
  that
• 10:10
  we
• 10:10
  are
• 10:10
  treating
• 10:10
  this
• 10:10
  founder
• 10:11
  because
• 10:11
  they're
• 10:11
  already
• 10:11
  going
• 10:12
  through
• 10:12
  hell.
• 10:13
  Like,
• 10:14
  we
• 10:14
  don't
• 10:14
  want
• 10:14
  them
• 10:15
  to
• 10:15
  go
• 10:15
  through
• 10:15
  that
• 10:16
  with
• 10:16
  us.
• 10:16
  And
• 10:17
  so
• 10:17
  we
• 10:17
  really,
• 10:17
  really
• 10:18
  try
• 10:18
  to
• 10:18
  anchor
• 10:18
  in
• 10:18
  on
• 10:19
  making
• 10:19
  sure
• 10:19
  we're
• 10:19
  being
• 10:19
  honest
• 10:20
  and
• 10:20
  empathetic
• 10:20
  with
• 10:21
  founders.
• 10:22
  So,
• 10:23
  Clarence,
• 10:23
  I,
• 10:24
  you
• 10:24
  mentioned
• 10:24
  empathy
• 10:25
  and
• 10:25
  I'd
• 10:26
  love
• 10:26
  for
• 10:26
  you
• 10:26
  to
• 10:26
  talk
• 10:27
  a
• 10:27
  little
• 10:27
  bit
• 10:27
  about,
• 10:28
  you
• 10:28
  know,
• 10:29
  even
• 10:29
  in
• 10:29
  your
• 10:29
  own
• 10:30
  experience
• 10:30
  when
• 10:30
  you
• 10:30
  were
• 10:31
  starting
• 10:31
  your
• 10:31
  company,
• 10:33
  what
• 10:33
  do
• 10:33
  you
• 10:33
  think
• 10:34
  really
• 10:34
  needs
• 10:34
  to
• 10:34
  happen
• 10:35
  right
• 10:35
  now
• 10:36
  to
• 10:36
  give
• 10:36
  these
• 10:37
  entrepreneurs
• 10:38
  a
• 10:38
  shot
• 10:38
  at
• 10:38
  success?
• 10:39
  I
• 10:39
  mean,
• 10:39
  I
• 10:39
  love,
• 10:40
  I
• 10:40
  mean
• 10:40
  one
• 10:40
  example
• 10:41
  that
• 10:41
  I
• 10:41
  think
• 10:41
  of
• 10:41
  is
• 10:42
  like
• 10:42
  we
• 10:42
  hear
• 10:42
  from
• 10:43
  all
• 10:43
  of
• 10:43
  these
• 10:43
  retailers,
• 10:44
  they're
• 10:44
  like
• 10:44
  setting
• 10:45
  aside
• 10:45
  space,
• 10:45
  space
• 10:46
  or
• 10:46
  we're
• 10:46
  going
• 10:46
  to
• 10:46
  have
• 10:46
  the
• 10:46
  startup
• 10:47
  area
• 10:47
  or
• 10:48
  the
• 10:48
  small
• 10:48
  business,
• 10:49
  you
• 10:49
  know,
• 10:49
  we're
• 10:49
  going
• 10:49
  to
• 10:49
  invest
• 10:50
  in
• 10:50
  bringing
• 10:51
  X
• 10:51
  number
• 10:51
  of
• 10:51
  small
• 10:52
  businesses
• 10:52
  into
• 10:53
  our
• 10:53
  massive
• 10:54
  retail
• 10:54
  store,
• 10:55
  you
• 10:55
  know,
• 10:55
  as
• 10:55
  a
• 10:55
  start
• 10:56
  to
• 10:56
  them.
• 10:56
  Is
• 10:57
  that
• 10:57
  helpful?
• 10:58
  Is
• 10:58
  it
• 10:59
  causing
• 10:59
  more
• 11:00
  problems?
• 11:00
  Like
• 11:00
  maybe
• 11:01
  just
• 11:01
  kind
• 11:01
  of
• 11:01
  give
• 11:02
  us
• 11:02
  a
• 11:02
  state
• 11:02
  of,
• 11:02
  the
• 11:02
  state
• 11:03
  of
• 11:03
  what
• 11:04
  you
• 11:04
  think,
• 11:04
  like
• 11:04
  the
• 11:05
  next
• 11:05
  best
• 11:06
  path
• 11:06
  is
• 11:06
  for
• 11:07
  a
• 11:07
  lot
• 11:07
  of
• 11:07
  these
• 11:07
  startup
• 11:08
  entrepreneurs
• 11:08
  right
• 11:08
  now.
• 11:09
  Yeah.
• 11:09
  So
• 11:10
  no
• 11:10
  disrespect
• 11:10
  to
• 11:11
  makeup,
• 11:11
  but
• 11:11
  that's
• 11:11
  all
• 11:12
  just
• 11:12
  makeup,
• 11:12
  right?
• 11:13
  Yeah,
• 11:14
  it's
• 11:14
  just
• 11:14
  makeup.
• 11:15
  Right.
• 11:15
  Like,
• 11:16
  yeah,
• 11:16
  like
• 11:16
  we,
• 11:16
  we
• 11:17
  saw
• 11:17
  in
• 11:18
  the
• 11:18
  George
• 11:19
  Floyd
• 11:19
  era
• 11:20
  where
• 11:20
  a
• 11:20
  bunch
• 11:20
  of
• 11:20
  people
• 11:21
  made
• 11:21
  promises
• 11:21
  and
• 11:22
  it
• 11:22
  was
• 11:22
  like
• 11:22
  a
• 11:23
  trillion
• 11:23
  dollars
• 11:23
  worth
• 11:23
  of
• 11:24
  promises
• 11:24
  made
• 11:25
  and
• 11:26
  you
• 11:26
  know,
• 11:26
  barely
• 11:26
  any
• 11:27
  of
• 11:27
  them
• 11:27
  happened.
• 11:28
  I
• 11:28
  think
• 11:28
  a
• 11:28
  lot
• 11:29
  of
• 11:29
  that,
• 11:29
  you
• 11:30
  know,
• 11:30
  let's
• 11:30
  create
• 11:30
  extra
• 11:31
  shelf
• 11:32
  space
• 11:32
  and
• 11:33
  let's,
• 11:33
  let's
• 11:33
  do
• 11:33
  that
• 11:33
  kind
• 11:34
  of
• 11:34
  stuff
• 11:34
  is
• 11:34
  just
• 11:34
  makeup.
• 11:35
  I
• 11:35
  think
• 11:35
  the
• 11:35
  truth
• 11:36
  is
• 11:36
  most
• 11:36
  founders
• 11:37
  are
• 11:37
  over
• 11:37
  mentored
• 11:38
  and
• 11:38
  underfunded.
• 11:39
  So
• 11:40
  what
• 11:40
  we
• 11:40
  need
• 11:40
  to
• 11:41
  do
• 11:41
  is
• 11:41
  put
• 11:41
  money,
• 11:42
  money
• 11:42
  in
• 11:42
  the
• 11:42
  hands
• 11:43
  of
• 11:43
  creators
• 11:44
  and
• 11:44
  let
• 11:44
  them
• 11:45
  create
• 11:45
  right.
• 11:45
  And
• 11:45
  let
• 11:46
  them
• 11:46
  earn
• 11:46
  their
• 11:46
  way
• 11:46
  on
• 11:47
  the
• 11:47
  shelf.
• 11:47
  But
• 11:48
  a
• 11:48
  lot
• 11:48
  of
• 11:48
  times,
• 11:48
  especially
• 11:49
  for
• 11:49
  black
• 11:49
  founders
• 11:50
  and
• 11:50
  women
• 11:50
  founders,
• 11:51
  we
• 11:51
  just
• 11:51
  don't
• 11:51
  even
• 11:51
  get
• 11:51
  the
• 11:51
  opportunity
• 11:52
  to
• 11:53
  get
• 11:53
  started.
• 11:54
  Right.
• 11:54
  And
• 11:55
  that
• 11:55
  is
• 11:55
  where
• 11:56
  a
• 11:56
  lot
• 11:56
  of
• 11:56
  our
• 11:56
  focus
• 11:56
  comes
• 11:57
  in.
• 11:58
  What
• 11:58
  kind
• 11:58
  of
• 11:59
  areas
• 11:59
  of
• 12:00
  investment
• 12:00
  are
• 12:00
  important?
• 12:01
  Because
• 12:01
  I've
• 12:01
  been
• 12:01
  hearing
• 12:01
  that
• 12:02
  from
• 12:02
  a
• 12:02
  lot
• 12:02
  of
• 12:03
  especially
• 12:03
  like,
• 12:04
  you
• 12:04
  know,
• 12:04
  brand
• 12:05
  rep
• 12:05
  groups
• 12:05
  who
• 12:05
  are
• 12:06
  trying
• 12:06
  to
• 12:06
  bring
• 12:06
  these
• 12:07
  brands
• 12:07
  from
• 12:08
  early
• 12:09
  startup
• 12:10
  stage
• 12:10
  into
• 12:10
  retailers.
• 12:12
  What,
• 12:12
  what
• 12:13
  kind
• 12:13
  of
• 12:13
  investments
• 12:13
  are
• 12:14
  you
• 12:14
  seeing
• 12:14
  are
• 12:14
  most
• 12:14
  critical
• 12:15
  for
• 12:15
  them
• 12:15
  to
• 12:16
  be
• 12:16
  able
• 12:16
  to
• 12:16
  get
• 12:17
  funded?
• 12:17
  Like
• 12:17
  where
• 12:17
  are
• 12:18
  those
• 12:18
  areas
• 12:18
  that
• 12:18
  they
• 12:19
  need
• 12:19
  funding
• 12:19
  to
• 12:19
  focus
• 12:20
  on?
• 12:20
  Is
• 12:20
  it
• 12:21
  like
• 12:21
  in
• 12:21
  development
• 12:22
  stage?
• 12:22
  Is
• 12:22
  it
• 12:23
  in
• 12:23
  retail
• 12:23
  media
• 12:24
  investment?
• 12:24
  Like
• 12:24
  where,
• 12:25
  where
• 12:25
  is
• 12:25
  that,
• 12:26
  that
• 12:26
  area
• 12:26
  that
• 12:26
  you're
• 12:27
  seeing?
• 12:27
  Most
• 12:27
  founders
• 12:28
  need
• 12:28
  help.
• 12:29
  Yeah.
• 12:29
  In
• 12:30
  our
• 12:30
  business
• 12:30
  we
• 12:30
  call
• 12:30
  it
• 12:30
  the
• 12:31
  friends
• 12:31
  and
• 12:31
  family
• 12:31
  round.
• 12:32
  Right.
• 12:32
  That's
• 12:33
  where
• 12:34
  you
• 12:34
  know,
• 12:35
  your
• 12:35
  rich
• 12:35
  uncle
• 12:35
  gives
• 12:36
  you
• 12:36
  150
• 12:36
  grand
• 12:37
  to
• 12:37
  get
• 12:37
  started.
• 12:37
  Right.
• 12:38
  The
• 12:38
  truth
• 12:38
  is
• 12:38
  I
• 12:38
  need
• 12:38
  one
• 12:39
  of
• 12:39
  those
• 12:40
  rich
• 12:41
  uncles.
• 12:41
  Right.
• 12:42
  But
• 12:42
  yeah,
• 12:42
  but
• 12:43
  that's
• 12:43
  really
• 12:43
  interesting
• 12:43
  because
• 12:43
  that
• 12:44
  is
• 12:44
  where
• 12:44
  a
• 12:44
  lot
• 12:44
  of
• 12:44
  the
• 12:45
  early
• 12:45
  stage
• 12:45
  money
• 12:45
  comes
• 12:46
  from
• 12:46
  is
• 12:46
  from
• 12:46
  people
• 12:47
  that
• 12:47
  have
• 12:47
  rich
• 12:47
  uncles
• 12:48
  and
• 12:48
  not
• 12:48
  everyone
• 12:49
  does.
• 12:49
  Right.
• 12:50
  That's
• 12:50
  what
• 12:50
  you
• 12:50
  say,
• 12:50
  right
• 12:51
  Clarence?
• 12:51
  Yeah,
• 12:52
  exactly.
• 12:52
  And,
• 12:53
  and
• 12:53
  most
• 12:54
  people
• 12:54
  just
• 12:55
  don't
• 12:55
  have
• 12:55
  the
• 12:55
  rich
• 12:56
  uncle
• 12:56
  that
• 12:56
  says,
• 12:56
  you
• 12:57
  know,
• 12:57
  here's
• 12:57
  some
• 12:57
  money,
• 12:57
  here's
• 12:57
  some
• 12:58
  buddies.
• 12:58
  Right.
• 12:58
  That's
• 12:59
  money.
• 12:59
  So
• 13:00
  you
• 13:00
  can
• 13:00
  try
• 13:00
  this
• 13:00
  idea
• 13:01
  out.
• 13:01
  Right.
• 13:02
  And,
• 13:02
  and
• 13:02
  so
• 13:02
  I
• 13:02
  think
• 13:03
  it's
• 13:03
  really
• 13:03
  important
• 13:03
  that
• 13:04
  we
• 13:04
  focus
• 13:05
  in
• 13:05
  on
• 13:05
  those
• 13:06
  early
• 13:06
  checks
• 13:06
  like
• 13:06
  most
• 13:07
  people
• 13:07
  think
• 13:07
  the,
• 13:07
  the
• 13:07
  multimillion
• 13:08
  dollar
• 13:08
  check
• 13:09
  is,
• 13:09
  is
• 13:09
  the
• 13:09
  right
• 13:09
  one.
• 13:10
  And
• 13:10
  truly,
• 13:11
  sometimes
• 13:11
  people
• 13:12
  just
• 13:12
  need
• 13:12
  the
• 13:12
  $200,000
• 13:13
  check
• 13:13
  to
• 13:13
  get
• 13:13
  started.
• 13:14
  Yeah.
• 13:14
  Yeah.
• 13:15
  Great.
• 13:16
  So,
• 13:16
  so
• 13:16
  how
• 13:16
  do
• 13:16
  we
• 13:17
  go
• 13:17
  about
• 13:17
  doing
• 13:17
  that?
• 13:17
  Like
• 13:18
  how,
• 13:18
  how
• 13:18
  what,
• 13:18
  like
• 13:19
  what,
• 13:19
  what,
• 13:19
  what
• 13:19
  needs
• 13:20
  to
• 13:20
  happen
• 13:20
  collectively
• 13:21
  to
• 13:22
  make
• 13:23
  that
• 13:23
  type
• 13:23
  of,
• 13:24
  I
• 13:24
  guess,
• 13:25
  you
• 13:25
  know,
• 13:25
  friends
• 13:25
  and
• 13:25
  family
• 13:26
  round
• 13:26
  type
• 13:26
  money
• 13:27
  more
• 13:27
  available
• 13:28
  to
• 13:28
  more,
• 13:28
  let's
• 13:29
  say
• 13:29
  women
• 13:29
  and
• 13:29
  black
• 13:29
  entrepreneurs
• 13:30
  as
• 13:30
  an
• 13:30
  example.
• 13:31
  Yeah.
• 13:32
  So
• 13:32
  I
• 13:32
  think
• 13:33
  it's
• 13:33
  twofold,
• 13:33
  I
• 13:33
  think
• 13:34
  for
• 13:34
  folks
• 13:35
  like
• 13:35
  us
• 13:35
  as
• 13:35
  true.
• 13:36
  And
• 13:36
  we're
• 13:36
  working
• 13:37
  on
• 13:37
  this
• 13:37
  internally,
• 13:37
  working
• 13:37
  on
• 13:38
  products
• 13:38
  that
• 13:38
  allow
• 13:38
  us
• 13:39
  to
• 13:39
  be
• 13:40
  earlier.
• 13:40
  Right.
• 13:40
  And
• 13:41
  get
• 13:41
  away
• 13:42
  a
• 13:42
  little
• 13:42
  bit
• 13:42
  from
• 13:42
  our
• 13:43
  norm
• 13:44
  that
• 13:44
  we've
• 13:45
  been
• 13:45
  over
• 13:45
  the
• 13:45
  last
• 13:46
  19,
• 13:46
  20
• 13:46
  years.
• 13:47
  But
• 13:47
  then
• 13:48
  I
• 13:48
  think
• 13:48
  there's
• 13:48
  the
• 13:48
  other
• 13:49
  side
• 13:49
  of
• 13:49
  the
• 13:49
  coin,
• 13:50
  which
• 13:50
  is
• 13:51
  we
• 13:51
  need
• 13:51
  to
• 13:51
  help
• 13:52
  entrepreneurs
• 13:53
  get
• 13:54
  the
• 13:54
  information
• 13:54
  they
• 13:55
  need
• 13:55
  to
• 13:55
  be
• 13:55
  better
• 13:55
  at
• 13:56
  what
• 13:56
  they
• 13:56
  do.
• 13:56
  So
• 13:57
  we
• 13:57
  always
• 13:57
  talk
• 13:57
  about
• 13:58
  there's
• 13:58
  an
• 13:58
  information
• 13:59
  gap
• 13:59
  and
• 14:00
  I
• 14:00
  see
• 14:00
  it
• 14:00
  a
• 14:01
  lot
• 14:01
  sitting
• 14:02
  in
• 14:02
  my
• 14:02
  seat
• 14:02
  is
• 14:03
  that
• 14:03
  I
• 14:03
  will
• 14:03
  see
• 14:03
  a
• 14:04
  black
• 14:04
  founder
• 14:04
  or
• 14:04
  woman
• 14:04
  founder
• 14:05
  come
• 14:05
  in
• 14:06
  and
• 14:06
  they
• 14:06
  will
• 14:06
  really
• 14:07
  struggle
• 14:08
  with
• 14:08
  their
• 14:08
  pitch,
• 14:09
  what
• 14:09
  they
• 14:10
  supposed
• 14:10
  to
• 14:10
  say,
• 14:11
  how
• 14:11
  we
• 14:12
  want
• 14:12
  to
• 14:12
  see
• 14:12
  it.
• 14:13
  And
• 14:14
  so
• 14:14
  a
• 14:14
  lot
• 14:14
  of
• 14:14
  times
• 14:14
  that
• 14:14
  blocks
• 14:15
  us
• 14:15
  from
• 14:16
  being
• 14:16
  able
• 14:17
  to
• 14:17
  even
• 14:17
  take
• 14:18
  it
• 14:18
  serious.
• 14:19
  Because
• 14:20
  if
• 14:20
  you
• 14:20
  come
• 14:20
  to
• 14:20
  a
• 14:20
  pitch,
• 14:21
  and
• 14:21
  I
• 14:21
  give
• 14:21
  you
• 14:21
  an
• 14:21
  example,
• 14:22
  if
• 14:22
  you
• 14:22
  come
• 14:22
  to
• 14:22
  a
• 14:23
  pitch,
• 14:23
  and
• 14:25
  oftentimes
• 14:25
  black
• 14:26
  founders
• 14:26
  and
• 14:26
  women
• 14:26
  founders
• 14:27
  are
• 14:28
  credentializing
• 14:29
  themselves
• 14:29
  and
• 14:29
  it
• 14:29
  takes
• 14:30
  like
• 14:30
  10
• 14:30
  minutes.
• 14:30
  Right.
• 14:30
  They
• 14:31
  want
• 14:31
  to
• 14:31
  say,
• 14:31
  I
• 14:31
  have
• 14:31
  a
• 14:32
  PhD,
• 14:32
  I've
• 14:33
  done
• 14:33
  this,
• 14:33
  I've
• 14:34
  done
• 14:34
  that,
• 14:34
  I'm.
• 14:35
  And
• 14:35
  it's
• 14:36
  like
• 14:36
  10
• 14:36
  minutes
• 14:36
  of
• 14:36
  a
• 14:36
  30
• 14:37
  minute
• 14:37
  phone
• 14:37
  call
• 14:37
  and
• 14:38
  you're
• 14:38
  like,
• 14:39
  I
• 14:39
  don't
• 14:39
  need
• 14:39
  to
• 14:39
  talk
• 14:40
  about
• 14:40
  you
• 14:40
  for
• 14:40
  10
• 14:40
  minutes.
• 14:41
  Like,
• 14:41
  tell
• 14:41
  me
• 14:41
  what
• 14:41
  you've
• 14:42
  done.
• 14:42
  Let's
• 14:42
  move
• 14:42
  on,
• 14:43
  let's
• 14:43
  get
• 14:43
  to
• 14:43
  the
• 14:43
  problem.
• 14:44
  And
• 14:45
  oftentimes,
• 14:46
  because
• 14:46
  of
• 14:46
  the
• 14:46
  way
• 14:46
  this
• 14:47
  industry
• 14:47
  has
• 14:47
  gone
• 14:49
  black,
• 14:49
  founders,
• 14:49
  women
• 14:50
  founders
• 14:50
  are
• 14:50
  taught
• 14:50
  to
• 14:50
  come
• 14:51
  in
• 14:51
  and
• 14:51
  credentialize
• 14:51
  yourself
• 14:52
  as
• 14:52
  much
• 14:52
  as
• 14:53
  possible.
• 14:54
  And
• 14:54
  I
• 14:54
  tell
• 14:55
  them,
• 14:55
  like,
• 14:55
  no,
• 14:55
  you
• 14:55
  don't
• 14:56
  need
• 14:56
  to
• 14:56
  do
• 14:56
  that.
• 14:56
  Like,
• 14:56
  if
• 14:56
  you
• 14:56
  got
• 14:57
  a
• 14:57
  PhD,
• 14:57
  all
• 14:57
  you
• 14:57
  need
• 14:58
  to
• 14:58
  do
• 14:58
  is
• 14:58
  tell
• 14:58
  us,
• 14:58
  I
• 14:59
  got
• 14:59
  a
• 14:59
  PhD,
• 14:59
  that
• 15:00
  is
• 15:00
  good
• 15:00
  enough.
• 15:00
  Let's
• 15:01
  move
• 15:01
  on
• 15:01
  to
• 15:01
  the
• 15:01
  problem.
• 15:02
  Conversely,
• 15:03
  if
• 15:04
  most
• 15:05
  white
• 15:05
  founders
• 15:06
  that
• 15:06
  come
• 15:06
  in,
• 15:06
  especially
• 15:07
  white
• 15:07
  CIS
• 15:07
  males
• 15:08
  that
• 15:08
  come
• 15:08
  in,
• 15:09
  they
• 15:09
  come
• 15:09
  in
• 15:09
  and
• 15:10
  they're
• 15:10
  telling
• 15:10
  you,
• 15:10
  I
• 15:10
  am
• 15:11
  building
• 15:11
  a
• 15:11
  trillion
• 15:11
  dollar
• 15:12
  company.
• 15:12
  This
• 15:12
  is
• 15:13
  the
• 15:13
  best
• 15:13
  thing
• 15:13
  that
• 15:14
  ever
• 15:14
  happened
• 15:14
  to
• 15:14
  you
• 15:15
  and
• 15:15
  you
• 15:15
  would
• 15:15
  be
• 15:15
  lucky
• 15:16
  to
• 15:16
  invest
• 15:16
  in
• 15:16
  me.
• 15:17
  Right.
• 15:18
  And
• 15:19
  so
• 15:19
  just
• 15:19
  even
• 15:20
  that
• 15:20
  confidence,
• 15:21
  you're
• 15:21
  like,
• 15:21
  I
• 15:21
  want
• 15:21
  to
• 15:21
  give
• 15:22
  this
• 15:22
  person
• 15:22
  money.
• 15:23
  Right,
• 15:23
  right,
• 15:24
  right.
• 15:24
  Because
• 15:24
  our
• 15:25
  business
• 15:25
  is
• 15:26
  helping
• 15:26
  companies
• 15:26
  build
• 15:27
  businesses
• 15:27
  so
• 15:28
  we
• 15:28
  make
• 15:28
  money.
• 15:29
  Right,
• 15:29
  right.
• 15:29
  And
• 15:30
  so
• 15:30
  little
• 15:31
  things
• 15:31
  like
• 15:31
  that
• 15:31
  is
• 15:32
  what
• 15:32
  I
• 15:32
  try
• 15:32
  to
• 15:32
  encourage
• 15:33
  founders.
• 15:34
  You
• 15:34
  don't
• 15:34
  need
• 15:35
  to
• 15:35
  do
• 15:35
  that.
• 15:35
  Like,
• 15:35
  come
• 15:35
  in
• 15:35
  with
• 15:36
  all
• 15:36
  the
• 15:36
  confidence,
• 15:37
  come
• 15:37
  in
• 15:37
  knowing
• 15:37
  your
• 15:38
  stuff
• 15:38
  and
• 15:39
  like,
• 15:39
  give
• 15:39
  us
• 15:39
  a
• 15:39
  chance
• 15:40
  to
• 15:40
  look
• 15:40
  at
• 15:40
  the
• 15:40
  real
• 15:40
  business
• 15:41
  and
• 15:41
  not
• 15:41
  just
• 15:41
  about
• 15:41
  yourself.
• 15:43
  So,
• 15:43
  Clarence,
• 15:44
  I
• 15:44
  want
• 15:44
  to
• 15:44
  ask
• 15:44
  you
• 15:44
  too,
• 15:44
  so,
• 15:44
  so
• 15:45
  how
• 15:45
  do
• 15:45
  you
• 15:45
  activate
• 15:46
  this
• 15:46
  then?
• 15:46
  Like,
• 15:47
  how
• 15:47
  do
• 15:47
  you
• 15:47
  act?
• 15:47
  I
• 15:48
  mean,
• 15:48
  you
• 15:48
  know,
• 15:49
  different
• 15:49
  communities,
• 15:49
  different
• 15:50
  municipalities
• 15:50
  have
• 15:51
  different
• 15:51
  areas
• 15:51
  or
• 15:51
  centers
• 15:52
  of
• 15:52
  entrepreneurship.
• 15:53
  How
• 15:53
  do
• 15:53
  you
• 15:53
  activate
• 15:53
  this,
• 15:54
  say
• 15:54
  throughout
• 15:54
  the
• 15:54
  country?
• 15:55
  Like,
• 15:55
  what,
• 15:55
  what
• 15:55
  efforts
• 15:56
  do
• 15:56
  you
• 15:56
  think
• 15:56
  need
• 15:56
  to
• 15:56
  be
• 15:56
  taken
• 15:56
  there?
• 15:58
  Yeah,
• 15:58
  I
• 15:58
  don't
• 15:58
  know
• 15:59
  if
• 15:59
  there's
• 15:59
  like
• 15:59
  a
• 15:59
  real
• 16:00
  solve
• 16:00
  nationally.
• 16:01
  Okay.
• 16:02
  I
• 16:02
  think
• 16:03
  I
• 16:03
  have
• 16:04
  to
• 16:04
  do
• 16:04
  the
• 16:04
  work.
• 16:05
  You
• 16:05
  have
• 16:05
  to
• 16:05
  do
• 16:05
  the
• 16:06
  work.
• 16:06
  And
• 16:06
  you,
• 16:07
  like,
• 16:07
  we
• 16:07
  all
• 16:08
  individually
• 16:08
  have
• 16:08
  to
• 16:08
  do
• 16:08
  the
• 16:09
  work
• 16:09
  on
• 16:09
  our
• 16:09
  side.
• 16:09
  I
• 16:09
  think
• 16:10
  to
• 16:10
  create
• 16:10
  a
• 16:10
  national
• 16:11
  movement,
• 16:11
  it's
• 16:12
  just
• 16:12
  not
• 16:12
  realistic
• 16:13
  in
• 16:13
  our
• 16:13
  space.
• 16:14
  But
• 16:14
  so
• 16:14
  every
• 16:15
  entrepreneur
• 16:15
  I
• 16:15
  try
• 16:16
  to
• 16:16
  touch,
• 16:16
  I
• 16:16
  try
• 16:17
  to
• 16:17
  make
• 16:17
  sure
• 16:17
  that
• 16:17
  I'm
• 16:17
  honest
• 16:18
  and
• 16:18
  empathetic
• 16:18
  towards
• 16:19
  them
• 16:19
  so
• 16:19
  that
• 16:19
  they
• 16:19
  see
• 16:20
  this.
• 16:20
  Got
• 16:21
  it.
• 16:21
  So
• 16:22
  your
• 16:22
  real
• 16:22
  takeaway
• 16:23
  though,
• 16:23
  is
• 16:23
  that
• 16:23
  we
• 16:24
  need
• 16:24
  more
• 16:24
  of
• 16:24
  the
• 16:25
  early
• 16:25
  money
• 16:26
  going
• 16:26
  to
• 16:26
  these
• 16:27
  entrepreneurs
• 16:27
  to
• 16:28
  help
• 16:28
  them
• 16:28
  out.
• 16:29
  That's.
• 16:29
  That's
• 16:29
  your
• 16:29
  big
• 16:30
  message
• 16:30
  here,
• 16:31
  correct?
• 16:32
  Clarence,
• 16:33
  do
• 16:33
  you
• 16:33
  find
• 16:33
  that
• 16:34
  there's,
• 16:35
  there's
• 16:35
  like,
• 16:36
  where,
• 16:36
  where
• 16:37
  is
• 16:37
  there
• 16:38
  access
• 16:38
  to
• 16:38
  that
• 16:39
  early
• 16:39
  money?
• 16:39
  I
• 16:40
  mean,
• 16:40
  true
• 16:40
  ventures,
• 16:40
  obviously,
• 16:41
  being
• 16:42
  someone
• 16:42
  who's
• 16:43
  empathetic
• 16:43
  and
• 16:44
  can
• 16:44
  understand
• 16:44
  and
• 16:45
  be
• 16:45
  honest
• 16:45
  with
• 16:45
  some
• 16:45
  of
• 16:45
  these
• 16:46
  founders.
• 16:46
  But
• 16:47
  are
• 16:47
  there
• 16:47
  other
• 16:47
  places
• 16:48
  out
• 16:48
  there
• 16:48
  that
• 16:48
  you'd
• 16:49
  recommend
• 16:49
  people
• 16:50
  listening,
• 16:51
  kind
• 16:51
  of
• 16:51
  explore
• 16:52
  or
• 16:52
  any,
• 16:53
  I
• 16:53
  guess,
• 16:53
  anything
• 16:54
  that
• 16:54
  you
• 16:54
  have
• 16:54
  them
• 16:55
  ask
• 16:55
  or
• 16:55
  look
• 16:56
  out
• 16:56
  for
• 16:56
  as
• 16:56
  they're
• 16:57
  going
• 16:57
  to
• 16:57
  get
• 16:58
  first
• 16:58
  round
• 16:58
  of
• 16:58
  funding?
• 16:59
  Yeah.
• 16:59
  So
• 17:00
  I
• 17:00
  have
• 17:00
  a
• 17:00
  saying
• 17:00
  that
• 17:00
  there's
• 17:01
  three
• 17:01
  people
• 17:02
  as
• 17:02
  an
• 17:02
  entrepreneur
• 17:03
  that
• 17:03
  you
• 17:03
  need
• 17:03
  in
• 17:03
  your
• 17:03
  life.
• 17:04
  If
• 17:04
  you
• 17:04
  don't
• 17:04
  have
• 17:04
  all
• 17:04
  three
• 17:05
  people,
• 17:05
  you're
• 17:05
  going
• 17:05
  to
• 17:06
  struggle,
• 17:06
  especially
• 17:06
  today.
• 17:08
  The.
• 17:08
  The
• 17:08
  first
• 17:08
  person
• 17:09
  is
• 17:09
  somebody
• 17:09
  ahead
• 17:10
  of
• 17:10
  you.
• 17:10
  So
• 17:10
  if
• 17:10
  I
• 17:11
  want
• 17:11
  to
• 17:11
  raise
• 17:11
  a
• 17:11
  million
• 17:11
  dollars,
• 17:12
  I
• 17:12
  need
• 17:13
  to
• 17:13
  be
• 17:13
  mentored
• 17:14
  by
• 17:14
  somebody
• 17:14
  who,
• 17:15
  who
• 17:15
  has
• 17:15
  raised
• 17:15
  a
• 17:16
  million
• 17:16
  dollars
• 17:16
  or
• 17:16
  more
• 17:16
  dollars.
• 17:17
  Right.
• 17:17
  So,
• 17:17
  yeah,
• 17:17
  I
• 17:18
  can
• 17:18
  understand
• 17:19
  good
• 17:19
  advice,
• 17:19
  like
• 17:20
  how
• 17:20
  they
• 17:20
  did
• 17:20
  it.
• 17:21
  Right.
• 17:21
  The
• 17:21
  second
• 17:22
  person
• 17:22
  is
• 17:22
  somebody
• 17:23
  behind
• 17:23
  me.
• 17:23
  So
• 17:24
  if
• 17:24
  I
• 17:24
  raised
• 17:24
  a
• 17:24
  million
• 17:24
  dollars,
• 17:25
  I
• 17:25
  need
• 17:25
  to
• 17:25
  be
• 17:25
  turning
• 17:26
  back
• 17:26
  and
• 17:26
  helping
• 17:27
  the
• 17:27
  next
• 17:27
  generation
• 17:28
  of
• 17:28
  founders,
• 17:29
  showing
• 17:30
  them,
• 17:30
  hey,
• 17:30
  here's
• 17:31
  what
• 17:31
  you're
• 17:31
  going
• 17:31
  to
• 17:31
  need
• 17:31
  to
• 17:31
  be
• 17:32
  able
• 17:32
  to
• 17:32
  show
• 17:32
  in
• 17:32
  order
• 17:32
  to
• 17:32
  raise
• 17:33
  a
• 17:33
  million
• 17:33
  dollars.
• 17:33
  Because
• 17:33
  I
• 17:34
  think
• 17:34
  it's
• 17:34
  really
• 17:34
  unfair
• 17:35
  to
• 17:35
  take
• 17:35
  from
• 17:36
  people
• 17:36
  in
• 17:36
  front
• 17:36
  of
• 17:36
  you
• 17:36
  and
• 17:37
  not
• 17:37
  give
• 17:37
  back
• 17:37
  to
• 17:37
  people
• 17:38
  behind
• 17:38
  you.
• 17:39
  And
• 17:39
  the
• 17:39
  third
• 17:40
  person
• 17:40
  is
• 17:40
  probably
• 17:40
  the
• 17:40
  most
• 17:41
  important.
• 17:41
  You
• 17:42
  need
• 17:42
  somebody
• 17:42
  at
• 17:42
  your
• 17:42
  same
• 17:43
  level
• 17:43
  who
• 17:43
  has,
• 17:43
  who
• 17:44
  is
• 17:44
  going
• 17:44
  through
• 17:44
  the
• 17:44
  trenches
• 17:45
  with
• 17:46
  you,
• 17:46
  who
• 17:47
  their
• 17:47
  company
• 17:47
  is
• 17:48
  at
• 17:48
  near
• 17:48
  the
• 17:48
  same
• 17:48
  spot
• 17:49
  as
• 17:49
  yours
• 17:49
  that
• 17:50
  you
• 17:50
  can
• 17:50
  call
• 17:50
  at
• 17:50
  1:00
• 17:50
  in
• 17:50
  the
• 17:51
  morning
• 17:51
  and
• 17:51
  say,
• 17:51
  hey,
• 17:52
  I
• 17:52
  am
• 17:53
  really
• 17:53
  tired.
• 17:53
  I
• 17:54
  don't
• 17:54
  know
• 17:54
  if
• 17:54
  I
• 17:54
  can
• 17:54
  do
• 17:54
  this
• 17:54
  anymore.
• 17:55
  My
• 17:55
  wife
• 17:55
  is
• 17:55
  yelling
• 17:56
  at
• 17:56
  me,
• 17:56
  my
• 17:56
  husband
• 17:57
  is
• 17:57
  yelling
• 17:57
  at
• 17:57
  me,
• 17:57
  and
• 17:58
  I
• 17:58
  go
• 17:58
  get
• 17:58
  a
• 17:58
  reg
• 17:59
  job.
• 17:59
  Like
• 17:59
  all
• 18:00
  these
• 18:00
  things
• 18:00
  are
• 18:00
  happening.
• 18:01
  You
• 18:02
  really
• 18:02
  need
• 18:02
  that
• 18:02
  person
• 18:03
  there
• 18:03
  to,
• 18:03
  to
• 18:03
  sanity
• 18:04
  check
• 18:04
  you.
• 18:05
  Because
• 18:05
  if
• 18:05
  you
• 18:05
  don't,
• 18:06
  I
• 18:06
  can
• 18:06
  tell
• 18:06
  you
• 18:07
  I've.
• 18:07
  And
• 18:07
  I've
• 18:07
  seen
• 18:07
  it
• 18:08
  multiple
• 18:08
  times.
• 18:09
  You
• 18:09
  can
• 18:09
  get
• 18:09
  in
• 18:10
  a
• 18:10
  really
• 18:10
  bad
• 18:10
  place
• 18:11
  and,
• 18:11
  and
• 18:11
  not
• 18:11
  trust
• 18:12
  these
• 18:12
  other
• 18:12
  ends
• 18:13
  of
• 18:13
  people
• 18:14
  because
• 18:14
  you're
• 18:14
  like,
• 18:14
  they
• 18:14
  don't
• 18:15
  know
• 18:15
  how
• 18:15
  I
• 18:15
  feel.
• 18:16
  Yeah.
• 18:16
  Yeah.
• 18:16
  And
• 18:17
  when
• 18:17
  you
• 18:17
  know
• 18:17
  that
• 18:18
  this
• 18:18
  person
• 18:18
  is
• 18:18
  going
• 18:18
  through
• 18:19
  the
• 18:19
  same
• 18:19
  thing,
• 18:19
  I
• 18:19
  got
• 18:19
  a
• 18:19
  guy
• 18:20
  named
• 18:20
  Harold
• 18:20
  Hughes
• 18:21
  who
• 18:21
  ran
• 18:21
  a
• 18:21
  company
• 18:21
  called
• 18:22
  Bandwagon.
• 18:23
  He
• 18:23
  was
• 18:24
  that
• 18:24
  for
• 18:24
  me.
• 18:24
  We
• 18:24
  would
• 18:24
  call
• 18:25
  each
• 18:25
  other
• 18:25
  1:00
• 18:25
  in
• 18:25
  the
• 18:26
  morning,
• 18:26
  crying,
• 18:26
  like,
• 18:27
  I
• 18:27
  can't
• 18:27
  do
• 18:27
  this
• 18:27
  anymore.
• 18:28
  And
• 18:29
  I
• 18:29
  think
• 18:29
  those
• 18:29
  three
• 18:29
  people,
• 18:30
  if
• 18:30
  you
• 18:30
  get
• 18:30
  those
• 18:30
  three
• 18:31
  people
• 18:31
  in
• 18:31
  your
• 18:31
  life,
• 18:32
  it
• 18:32
  will
• 18:32
  help
• 18:32
  you
• 18:33
  kind
• 18:33
  of
• 18:33
  navigate
• 18:33
  because
• 18:34
  people
• 18:34
  in
• 18:34
  front
• 18:34
  of
• 18:34
  you
• 18:34
  will
• 18:34
  introduce
• 18:35
  you
• 18:35
  to
• 18:35
  their
• 18:35
  people.
• 18:36
  Right.
• 18:37
  Like
• 18:37
  they
• 18:37
  will.
• 18:38
  They
• 18:38
  like
• 18:38
  you.
• 18:38
  Hey,
• 18:39
  this
• 18:39
  investor
• 18:39
  who
• 18:39
  invested
• 18:40
  in
• 18:40
  me.
• 18:40
  And
• 18:40
  it
• 18:40
  kind
• 18:40
  of
• 18:41
  all
• 18:41
  works
• 18:41
  itself
• 18:41
  out.
• 18:42
  Yeah.
• 18:42
  So
• 18:43
  it's
• 18:43
  like
• 18:43
  building
• 18:43
  your
• 18:44
  board
• 18:44
  of
• 18:44
  directors
• 18:44
  as
• 18:45
  an
• 18:45
  entrepreneur,
• 18:46
  those
• 18:47
  people
• 18:47
  that
• 18:47
  you
• 18:47
  can
• 18:47
  go
• 18:47
  to
• 18:48
  versus
• 18:48
  like
• 18:48
  a
• 18:48
  place
• 18:49
  that
• 18:49
  you're
• 18:49
  going
• 18:49
  to.
• 18:50
  To
• 18:50
  get
• 18:50
  you
• 18:50
  know,
• 18:51
  resources
• 18:51
  that.
• 18:52
  That's
• 18:52
  building
• 18:52
  the
• 18:53
  community.
• 18:53
  It
• 18:53
  sounds
• 18:53
  like
• 18:54
  that
• 18:54
  will
• 18:54
  help
• 18:54
  you
• 18:54
  get
• 18:54
  to
• 18:55
  the.
• 18:55
  The
• 18:55
  money
• 18:56
  that
• 18:56
  you
• 18:56
  need.
• 18:57
  Yes.
• 18:58
  I
• 18:58
  had
• 18:58
  one
• 18:59
  more
• 18:59
  question
• 18:59
  for
• 18:59
  you
• 19:00
  real
• 19:00
  quick,
• 19:00
  because
• 19:00
  you
• 19:01
  made
• 19:01
  me
• 19:01
  think
• 19:01
  of
• 19:01
  something
• 19:02
  as
• 19:02
  you
• 19:02
  were
• 19:02
  just
• 19:03
  explaining
• 19:03
  that.
• 19:04
  How
• 19:05
  do
• 19:05
  you.
• 19:05
  If.
• 19:06
  If
• 19:06
  you're
• 19:06
  my
• 19:06
  person
• 19:06
  that
• 19:07
  I'm
• 19:07
  calling
• 19:07
  at
• 19:07
  1:00
• 19:08
  in
• 19:08
  the
• 19:08
  morning,
• 19:08
  Clarence,
• 19:09
  how
• 19:10
  do
• 19:10
  you
• 19:11
  advise
• 19:12
  those
• 19:12
  listening
• 19:13
  when
• 19:13
  they're.
• 19:14
  They're.
• 19:14
  They're
• 19:15
  doing
• 19:15
  an
• 19:15
  entrepreneurial
• 19:16
  venture?
• 19:17
  How
• 19:17
  do
• 19:17
  you
• 19:17
  advise
• 19:18
  them
• 19:18
  to
• 19:18
  think
• 19:18
  about
• 19:19
  the
• 19:19
  Runway
• 19:19
  that
• 19:19
  they
• 19:20
  give
• 19:20
  themselves
• 19:20
  to
• 19:21
  see
• 19:21
  through
• 19:21
  an
• 19:21
  idea
• 19:22
  or
• 19:22
  even
• 19:22
  the
• 19:23
  questions
• 19:23
  that
• 19:23
  they
• 19:23
  should
• 19:24
  be
• 19:24
  asking
• 19:24
  themselves
• 19:25
  along
• 19:25
  the
• 19:25
  way
• 19:25
  of,
• 19:25
  like,
• 19:26
  when
• 19:26
  those
• 19:26
  creeping
• 19:27
  thoughts
• 19:27
  of
• 19:27
  like,
• 19:27
  I
• 19:27
  need
• 19:28
  to
• 19:28
  go
• 19:28
  get
• 19:28
  a
• 19:28
  job
• 19:29
  or
• 19:29
  this
• 19:29
  isn't
• 19:29
  going
• 19:30
  to
• 19:30
  work,
• 19:30
  like,
• 19:30
  how
• 19:31
  do
• 19:31
  you
• 19:31
  advise
• 19:31
  them
• 19:32
  to
• 19:32
  kind
• 19:32
  of
• 19:33
  consider,
• 19:33
  like,
• 19:34
  look,
• 19:34
  you
• 19:34
  got
• 19:34
  to
• 19:34
  give
• 19:34
  yourself
• 19:35
  a
• 19:35
  real
• 19:35
  a
• 19:35
  year
• 19:36
  to
• 19:36
  prove
• 19:36
  out
• 19:36
  this
• 19:37
  idea,
• 19:37
  or
• 19:38
  you
• 19:38
  got
• 19:38
  to
• 19:38
  give
• 19:38
  yourself
• 19:39
  six
• 19:39
  more
• 19:39
  months
• 19:39
  to
• 19:39
  do
• 19:40
  this.
• 19:40
  Like,
• 19:40
  what.
• 19:40
  What
• 19:40
  kind
• 19:40
  of,
• 19:41
  like,
• 19:41
  guidelines
• 19:42
  do
• 19:42
  you
• 19:42
  have
• 19:42
  for
• 19:43
  that
• 19:43
  situation?
• 19:45
  Yeah.
• 19:45
  So
• 19:45
  great
• 19:46
  question.
• 19:46
  I'm
• 19:46
  not
• 19:46
  going
• 19:46
  to
• 19:47
  give
• 19:47
  you
• 19:47
  the
• 19:47
  answer
• 19:47
  you
• 19:47
  think
• 19:47
  I'm
• 19:48
  about
• 19:48
  to
• 19:48
  give
• 19:48
  you.
• 19:49
  All
• 19:49
  right,
• 19:49
  Even
• 19:50
  better.
• 19:52
  I
• 19:53
  was
• 19:53
  crazy
• 19:53
  and
• 19:54
  fanatical
• 19:55
  about
• 19:55
  being
• 19:56
  a
• 19:56
  company.
• 19:56
  There
• 19:56
  was
• 19:56
  no
• 19:57
  timeline.
• 19:57
  There
• 19:58
  was
• 19:58
  no,
• 20:00
  I'm
• 20:00
  giving
• 20:00
  myself
• 20:01
  this
• 20:01
  amount
• 20:02
  of
• 20:02
  time
• 20:02
  to
• 20:02
  do
• 20:02
  it
• 20:03
  right.
• 20:03
  I
• 20:03
  was
• 20:03
  all
• 20:04
  about.
• 20:04
  I
• 20:05
  was
• 20:05
  willing
• 20:05
  to
• 20:05
  sacrifice
• 20:06
  everything.
• 20:06
  And
• 20:06
  this
• 20:07
  is
• 20:07
  gonna
• 20:07
  sound
• 20:07
  harsh,
• 20:08
  but
• 20:08
  I
• 20:08
  was
• 20:08
  willing
• 20:09
  to
• 20:09
  sacrifice
• 20:09
  my
• 20:10
  marriage.
• 20:10
  I
• 20:10
  was
• 20:11
  really
• 20:11
  sacrifice.
• 20:12
  Friends.
• 20:12
  Like,
• 20:13
  everything
• 20:13
  was
• 20:13
  on
• 20:13
  the
• 20:14
  table
• 20:14
  because
• 20:14
  I
• 20:14
  had
• 20:14
  this
• 20:15
  vision
• 20:15
  about
• 20:15
  what
• 20:15
  I
• 20:15
  thought
• 20:16
  the
• 20:16
  future
• 20:16
  should
• 20:16
  look
• 20:16
  like.
• 20:17
  And
• 20:17
  so
• 20:18
  my
• 20:18
  answer
• 20:18
  to
• 20:18
  that
• 20:19
  question
• 20:19
  is
• 20:19
  always,
• 20:21
  most
• 20:22
  of
• 20:22
  the
• 20:22
  time,
• 20:22
  when
• 20:23
  you're
• 20:23
  going
• 20:23
  through
• 20:23
  things
• 20:24
  and
• 20:24
  things
• 20:24
  are
• 20:24
  hard,
• 20:25
  you're
• 20:25
  about
• 20:25
  to
• 20:25
  have
• 20:25
  a
• 20:25
  breakthrough.
• 20:26
  And
• 20:27
  mine
• 20:28
  was.
• 20:28
  I
• 20:28
  remember
• 20:30
  vividly,
• 20:31
  my
• 20:32
  wife
• 20:32
  told
• 20:32
  me
• 20:33
  in
• 20:33
  October
• 20:33
  of
• 20:33
  2016,
• 20:35
  you
• 20:36
  are
• 20:36
  done
• 20:36
  in,
• 20:36
  in.
• 20:37
  At
• 20:37
  the
• 20:37
  end
• 20:37
  of
• 20:37
  December,
• 20:38
  you're
• 20:38
  done.
• 20:38
  You're
• 20:38
  gonna
• 20:39
  go
• 20:39
  get
• 20:39
  a
• 20:39
  job
• 20:39
  at
• 20:39
  Target.
• 20:39
  Her
• 20:40
  exact
• 20:40
  words
• 20:40
  to
• 20:40
  me,
• 20:41
  you're
• 20:41
  gonna
• 20:41
  go
• 20:42
  stock
• 20:42
  shelves
• 20:42
  at
• 20:43
  Target.
• 20:43
  If
• 20:44
  we
• 20:44
  don't
• 20:44
  get
• 20:45
  a
• 20:45
  sign
• 20:45
  that
• 20:45
  this
• 20:45
  thing
• 20:46
  is
• 20:46
  going
• 20:46
  in
• 20:46
  a
• 20:46
  different
• 20:46
  direction,
• 20:47
  you
• 20:48
  are
• 20:48
  done.
• 20:48
  Because
• 20:48
  you
• 20:48
  have
• 20:49
  a
• 20:49
  family
• 20:49
  you
• 20:49
  need
• 20:49
  to
• 20:49
  take
• 20:49
  care
• 20:50
  of.
• 20:51
  And
• 20:51
  I
• 20:51
  remember,
• 20:51
  I
• 20:52
  was
• 20:52
  like,
• 20:52
  whatever.
• 20:53
  Like,
• 20:53
  I
• 20:53
  just
• 20:54
  divorce
• 20:54
  you
• 20:54
  in
• 20:54
  December.
• 20:55
  We'll
• 20:55
  move
• 20:55
  on,
• 20:55
  right?
• 20:55
  Like,
• 20:56
  Like,
• 20:56
  I.
• 20:57
  I
• 20:57
  was
• 20:57
  seriously,
• 20:58
  I
• 20:58
  was
• 20:58
  like,
• 20:58
  I
• 20:59
  am
• 20:59
  going
• 20:59
  to
• 20:59
  chase
• 20:59
  this
• 21:00
  thing
• 21:00
  down.
• 21:01
  And
• 21:01
  I
• 21:02
  think
• 21:02
  that,
• 21:02
  like,
• 21:03
  God,
• 21:03
  is
• 21:03
  so
• 21:03
  amazing,
• 21:04
  because
• 21:04
  in
• 21:04
  December,
• 21:05
  an
• 21:05
  investor
• 21:05
  approached
• 21:06
  me
• 21:06
  and
• 21:06
  said,
• 21:06
  hey,
• 21:06
  I
• 21:06
  want
• 21:06
  to
• 21:06
  give
• 21:06
  you
• 21:07
  100k.
• 21:07
  And
• 21:08
  it
• 21:08
  kind
• 21:08
  of
• 21:08
  started
• 21:09
  off
• 21:10
  the
• 21:10
  road
• 21:10
  for
• 21:10
  me.
• 21:11
  And
• 21:12
  so,
• 21:12
  like,
• 21:13
  I
• 21:13
  don't
• 21:13
  believe
• 21:14
  in
• 21:14
  balance.
• 21:15
  I
• 21:15
  don't
• 21:15
  believe
• 21:16
  that
• 21:16
  you
• 21:17
  should
• 21:17
  put
• 21:17
  timeline.
• 21:18
  Like,
• 21:18
  if
• 21:18
  you
• 21:18
  believe
• 21:18
  in
• 21:18
  this
• 21:19
  vision,
• 21:19
  you
• 21:20
  should
• 21:20
  sacrifice
• 21:20
  it
• 21:21
  all.
• 21:21
  You
• 21:21
  should
• 21:21
  mortgage
• 21:21
  the
• 21:22
  house.
• 21:22
  You
• 21:22
  should
• 21:22
  do
• 21:22
  it
• 21:22
  all.
• 21:23
  If
• 21:23
  you
• 21:23
  really
• 21:23
  believe
• 21:24
  in
• 21:24
  it.
• 21:24
  Yeah.
• 21:25
  Until
• 21:25
  you.
• 21:25
  Until
• 21:26
  there's
• 21:26
  a
• 21:26
  point
• 21:26
  maybe
• 21:26
  where
• 21:26
  you
• 21:27
  don't
• 21:27
  believe
• 21:27
  in
• 21:27
  it.
• 21:27
  Right.
• 21:28
  Because
• 21:28
  at
• 21:28
  some
• 21:28
  point.
• 21:28
  Yeah,
• 21:29
  that
• 21:29
  point.
• 21:30
  But
• 21:30
  that's
• 21:30
  your
• 21:30
  thing.
• 21:30
  It's
• 21:30
  like
• 21:31
  you
• 21:31
  have
• 21:31
  an
• 21:31
  unwavering
• 21:32
  commitment
• 21:32
  to
• 21:32
  it
• 21:33
  until
• 21:33
  you
• 21:33
  just
• 21:34
  no
• 21:34
  longer
• 21:34
  can.
• 21:34
  And
• 21:35
  that's
• 21:35
  your
• 21:35
  trigger
• 21:35
  for
• 21:36
  I
• 21:36
  need
• 21:36
  to
• 21:36
  get
• 21:36
  out
• 21:36
  of
• 21:36
  this.
• 21:37
  Yeah.
• 21:37
  And
• 21:37
  that
• 21:37
  just
• 21:38
  never
• 21:38
  happened
• 21:38
  for
• 21:38
  you.
• 21:39
  It
• 21:39
  sounded
• 21:39
  like.
• 21:39
  Like
• 21:39
  you
• 21:40
  were
• 21:40
  just
• 21:40
  still
• 21:41
  believing
• 21:41
  in
• 21:41
  yourself
• 21:42
  and
• 21:42
  the
• 21:42
  idea
• 21:42
  that
• 21:43
  you
• 21:43
  could
• 21:43
  make
• 21:43
  it
• 21:43
  happen.
• 21:44
  And
• 21:44
  that's.
• 21:44
  Yeah,
• 21:44
  that's
• 21:45
  good.
• 21:45
  Yeah.
• 21:45
  And
• 21:46
  I
• 21:46
  think
• 21:46
  most
• 21:46
  people
• 21:47
  have
• 21:47
  an
• 21:47
  easy
• 21:48
  breaking
• 21:48
  point.
• 21:49
  And
• 21:49
  this
• 21:50
  entrepreneurship
• 21:51
  will
• 21:51
  test
• 21:51
  you.
• 21:52
  It
• 21:52
  will
• 21:53
  test
• 21:53
  you
• 21:53
  and
• 21:53
  make
• 21:54
  you
• 21:54
  break.
• 21:55
  And
• 21:56
  I
• 21:56
  just
• 21:57
  think,
• 21:57
  like,
• 21:57
  if
• 21:57
  you
• 21:57
  want
• 21:57
  to
• 21:57
  do
• 21:58
  this
• 21:58
  the
• 21:58
  right
• 21:58
  way,
• 21:59
  you
• 22:00
  can't
• 22:00
  break
• 22:00
  at
• 22:00
  the
• 22:01
  slightest
• 22:02
  hint
• 22:02
  of
• 22:03
  something
• 22:03
  going
• 22:03
  wrong.
• 22:04
  Like,
• 22:04
  you
• 22:04
  got
• 22:04
  to
• 22:04
  keep
• 22:04
  going.
• 22:05
  And
• 22:05
  that
• 22:06
  was
• 22:06
  the
• 22:06
  one
• 22:06
  thing
• 22:06
  I
• 22:06
  was
• 22:06
  going
• 22:06
  to
• 22:06
  ask
• 22:06
  you
• 22:07
  to
• 22:07
  close
• 22:07
  us
• 22:07
  out.
• 22:07
  Because,
• 22:07
  you
• 22:07
  know,
• 22:08
  I
• 22:08
  imagine
• 22:08
  as
• 22:08
  you've
• 22:08
  been
• 22:09
  sharing
• 22:09
  these
• 22:09
  lessons,
• 22:10
  I
• 22:11
  imagine
• 22:11
  and.
• 22:12
  And
• 22:12
  these
• 22:12
  kind
• 22:12
  of
• 22:12
  frameworks
• 22:13
  and
• 22:13
  rubrics
• 22:13
  that
• 22:13
  you've
• 22:13
  been
• 22:14
  talking
• 22:14
  about,
• 22:14
  I
• 22:15
  imagine
• 22:15
  those
• 22:15
  were
• 22:15
  learned
• 22:16
  from
• 22:16
  your
• 22:16
  years
• 22:16
  of.
• 22:17
  Of
• 22:17
  doing
• 22:17
  this.
• 22:17
  So
• 22:17
  I'm
• 22:18
  curious.
• 22:18
  I'm
• 22:18
  sure
• 22:18
  you've
• 22:18
  been
• 22:19
  asked
• 22:19
  this
• 22:19
  before,
• 22:19
  but
• 22:19
  as
• 22:20
  you
• 22:20
  look
• 22:20
  back,
• 22:22
  is
• 22:22
  there
• 22:22
  anything
• 22:23
  you
• 22:23
  wish
• 22:23
  you'd
• 22:23
  done
• 22:24
  differently
• 22:24
  or
• 22:24
  wish
• 22:24
  you
• 22:25
  knew
• 22:25
  then
• 22:25
  that,
• 22:25
  you
• 22:26
  know,
• 22:26
  now,
• 22:26
  you
• 22:26
  know,
• 22:27
  experience
• 22:27
  isn't
• 22:27
  something
• 22:27
  you
• 22:28
  have
• 22:28
  until
• 22:28
  after
• 22:28
  you
• 22:28
  need?
• 22:29
  It
• 22:29
  is
• 22:29
  one
• 22:29
  thing
• 22:29
  that
• 22:30
  we
• 22:30
  always
• 22:30
  say.
• 22:30
  So.
• 22:31
  So
• 22:31
  what
• 22:31
  was
• 22:31
  that
• 22:32
  for
• 22:32
  you?
• 22:33
  Yeah,
• 22:34
  I.
• 22:34
  I
• 22:34
  don't
• 22:35
  regret.
• 22:36
  I.
• 22:36
  I
• 22:37
  wouldn't
• 22:37
  do
• 22:37
  anything
• 22:37
  different
• 22:38
  because
• 22:38
  it
• 22:38
  ended
• 22:38
  up,
• 22:39
  you
• 22:39
  know,
• 22:39
  ended
• 22:40
  up
• 22:40
  working
• 22:40
  out
• 22:41
  for
• 22:41
  me
• 22:42
  in
• 22:42
  a
• 22:42
  way
• 22:42
  that
• 22:42
  I
• 22:42
  didn't
• 22:43
  even
• 22:43
  believe
• 22:43
  was
• 22:43
  possible.
• 22:45
  I
• 22:46
  believe
• 22:46
  that
• 22:46
  adversity
• 22:46
  is
• 22:47
  a
• 22:47
  gift,
• 22:47
  and
• 22:48
  so
• 22:48
  I
• 22:48
  would
• 22:48
  go
• 22:48
  through
• 22:48
  all
• 22:48
  that
• 22:49
  adversity
• 22:49
  again
• 22:50
  if
• 22:50
  I
• 22:50
  knew.
• 22:51
  Yeah.
• 22:51
  This
• 22:51
  is
• 22:52
  where
• 22:52
  I
• 22:52
  was
• 22:52
  going.
• 22:53
  So.
• 22:53
  No,
• 22:53
  no
• 22:54
  regrets
• 22:54
  here.
• 22:55
  Got
• 22:55
  it.
• 22:55
  Got
• 22:56
  it.
• 22:56
  But
• 22:56
  was
• 22:56
  it.
• 22:56
  Was
• 22:57
  there
• 22:57
  any.
• 22:57
  I.
• 22:58
  I
• 22:58
  totally
• 22:58
  buy
• 22:59
  into
• 22:59
  the
• 22:59
  whole
• 22:59
  no
• 22:59
  regrets
• 23:00
  thing,
• 23:00
  too,
• 23:00
  because
• 23:00
  that's
• 23:00
  kind
• 23:00
  of
• 23:01
  the
• 23:01
  philosophy
• 23:01
  we
• 23:01
  live
• 23:01
  by,
• 23:02
  too.
• 23:02
  But
• 23:02
  I'm
• 23:02
  curious.
• 23:03
  Was
• 23:03
  there
• 23:03
  any.
• 23:03
  Like,
• 23:03
  when
• 23:04
  you
• 23:04
  said.
• 23:04
  When
• 23:05
  you
• 23:05
  said,
• 23:05
  like,
• 23:05
  you
• 23:05
  know,
• 23:05
  have
• 23:06
  these
• 23:06
  three
• 23:06
  people
• 23:06
  in
• 23:06
  your
• 23:07
  life,
• 23:07
  did
• 23:07
  you
• 23:07
  have
• 23:08
  them,
• 23:09
  you
• 23:09
  know,
• 23:09
  with
• 23:10
  you
• 23:10
  at
• 23:10
  every
• 23:10
  step?
• 23:11
  Or
• 23:11
  did
• 23:11
  you,
• 23:11
  like,
• 23:12
  was
• 23:12
  there
• 23:12
  a
• 23:12
  time
• 23:12
  where
• 23:12
  you're
• 23:13
  like,
• 23:13
  oh,
• 23:13
  shoot,
• 23:13
  I
• 23:13
  wish
• 23:14
  I
• 23:14
  had
• 23:14
  had,
• 23:14
  you
• 23:15
  know,
• 23:15
  this
• 23:15
  person
• 23:16
  who
• 23:16
  had
• 23:16
  gone
• 23:16
  through,
• 23:17
  you
• 23:17
  know,
• 23:17
  raising
• 23:18
  money
• 23:18
  with
• 23:18
  me
• 23:18
  before,
• 23:19
  some
• 23:19
  other
• 23:19
  example
• 23:20
  like
• 23:20
  that?
• 23:21
  Yeah,
• 23:22
  I
• 23:22
  mean,
• 23:22
  I,
• 23:25
  again,
• 23:25
  I
• 23:25
  think
• 23:26
  you,
• 23:26
  I
• 23:26
  go
• 23:26
  back
• 23:27
  to,
• 23:27
  like,
• 23:28
  everything
• 23:28
  happens
• 23:28
  for
• 23:29
  a
• 23:29
  reason.
• 23:29
  And
• 23:30
  especially
• 23:30
  when
• 23:31
  I
• 23:31
  look
• 23:31
  at
• 23:31
  my
• 23:31
  life,
• 23:32
  I've
• 23:32
  been
• 23:32
  so
• 23:33
  fortunate.
• 23:34
  Like,
• 23:34
  and,
• 23:35
  and
• 23:35
  I,
• 23:35
  the,
• 23:36
  the,
• 23:36
  the
• 23:36
  comedy
• 23:37
  I
• 23:37
  make
• 23:37
  most
• 23:37
  people
• 23:38
  is
• 23:38
  like,
• 23:38
  I'm
• 23:38
  living
• 23:38
  a
• 23:38
  life
• 23:39
  that
• 23:39
  I
• 23:39
  don't
• 23:39
  deserve.
• 23:40
  And
• 23:41
  I
• 23:41
  am
• 23:42
  fortunate
• 23:42
  and
• 23:42
  blessed
• 23:43
  and
• 23:43
  God
• 23:43
  has
• 23:43
  blessed
• 23:44
  my
• 23:44
  life
• 23:44
  and
• 23:44
  my
• 23:44
  family,
• 23:45
  and
• 23:45
  I
• 23:46
  don't,
• 23:46
  like,
• 23:46
  I
• 23:46
  don't
• 23:47
  deserve
• 23:47
  to
• 23:47
  be
• 23:47
  here.
• 23:48
  I
• 23:48
  got
• 23:48
  really,
• 23:48
  really
• 23:49
  lucky.
• 23:49
  So
• 23:49
  when
• 23:49
  I
• 23:50
  look
• 23:50
  back
• 23:50
  at
• 23:50
  things
• 23:50
  like
• 23:51
  that,
• 23:51
  I
• 23:51
  say,
• 23:52
  you
• 23:52
  know
• 23:52
  what?
• 23:52
  Like,
• 23:52
  people
• 23:52
  came
• 23:53
  in
• 23:53
  and
• 23:53
  out
• 23:53
  of
• 23:53
  my
• 23:53
  life
• 23:54
  at
• 23:54
  times
• 23:55
  where
• 23:55
  it
• 23:56
  made
• 23:56
  sense,
• 23:56
  right?
• 23:57
  And
• 23:57
  they
• 23:57
  left
• 23:57
  my
• 23:57
  life
• 23:58
  at
• 23:58
  a
• 23:58
  time
• 23:58
  that
• 23:59
  it
• 23:59
  made
• 23:59
  sense.
• 24:00
  And
• 24:00
  I'm,
• 24:00
  I'm
• 24:00
  grateful
• 24:01
  for
• 24:01
  their,
• 24:02
  you
• 24:02
  know,
• 24:02
  their
• 24:02
  moment
• 24:02
  in
• 24:03
  my
• 24:03
  life
• 24:03
  right
• 24:03
  now.
• 24:03
  I
• 24:04
  hope
• 24:04
  they
• 24:04
  got,
• 24:04
  they
• 24:04
  see
• 24:04
  the
• 24:05
  same
• 24:05
  thing
• 24:05
  about
• 24:05
  me.
• 24:06
  Got
• 24:06
  it.
• 24:07
  Well,
• 24:08
  Clarence,
• 24:09
  I
• 24:09
  cannot
• 24:09
  tell
• 24:10
  you
• 24:10
  how
• 24:10
  much
• 24:10
  we
• 24:10
  appreciate
• 24:11
  your
• 24:12
  honesty
• 24:12
  in
• 24:13
  this
• 24:13
  conversation.
• 24:13
  Like,
• 24:14
  you
• 24:14
  say
• 24:15
  it
• 24:15
  and
• 24:15
  you
• 24:15
  do
• 24:15
  it.
• 24:16
  You're
• 24:16
  walking
• 24:16
  the
• 24:16
  walk.
• 24:17
  It
• 24:17
  was
• 24:18
  wonderful.
• 24:18
  I
• 24:19
  really
• 24:19
  appreciate
• 24:19
  your
• 24:20
  perspective,
• 24:21
  especially
• 24:21
  in
• 24:21
  our
• 24:22
  ongoing
• 24:22
  conversations
• 24:23
  here
• 24:23
  at
• 24:23
  OmniTalk.
• 24:24
  If
• 24:24
  people
• 24:25
  want
• 24:25
  to
• 24:25
  get
• 24:26
  in
• 24:26
  touch
• 24:26
  with
• 24:26
  you,
• 24:27
  they
• 24:27
  want
• 24:27
  to
• 24:27
  learn
• 24:28
  more,
• 24:28
  you
• 24:28
  might
• 24:29
  be
• 24:29
  that
• 24:29
  person
• 24:29
  that
• 24:29
  they
• 24:30
  call
• 24:30
  in
• 24:30
  The
• 24:30
  Future
• 24:30
  at
• 24:31
  1:00
• 24:31
  in
• 24:31
  the
• 24:31
  morning.
• 24:32
  What
• 24:33
  is
• 24:33
  the
• 24:33
  best
• 24:33
  way
• 24:34
  for
• 24:34
  them
• 24:34
  to
• 24:34
  get
• 24:34
  into
• 24:35
  touch
• 24:35
  with
• 24:35
  you?
• 24:36
  Yeah,
• 24:36
  I
• 24:36
  mean,
• 24:37
  you
• 24:37
  can
• 24:37
  email
• 24:38
  me.
• 24:38
  Just
• 24:38
  clarence.
• 24:39
  True
• 24:39
  ventures.com
• 24:41
  is
• 24:41
  my
• 24:41
  email
• 24:41
  address.
• 24:42
  And
• 24:42
  I'm
• 24:42
  on,
• 24:43
  you
• 24:43
  know,
• 24:43
  Twitter,
• 24:44
  Instagram,
• 24:44
  all
• 24:44
  just
• 24:45
  Clarence.
• 24:45
  Underscore
• 24:45
  Bethea.
• 24:47
  Excellent.
• 24:48
  Awesome.
• 24:49
  Well,
• 24:49
  that
• 24:49
  wraps
• 24:50
  us
• 24:50
  up.
• 24:50
  Thanks
• 24:50
  again
• 24:51
  to
• 24:51
  Clarence
• 24:51
  Bethia
• 24:52
  of
• 24:52
  True
• 24:52
  Ventures
• 24:52
  for
• 24:53
  sitting
• 24:53
  down
• 24:53
  with
• 24:53
  us
• 24:53
  today.
• 24:54
  And
• 24:54
  thanks
• 24:54
  to
• 24:55
  everyone
• 24:55
  out
• 24:55
  there
• 24:55
  for
• 24:55
  listening
• 24:56
  in
• 24:56
  to
• 24:56
  this
• 24:56
  episode
• 24:56
  of
• 24:57
  our
• 24:57
  ongoing
• 24:57
  series
• 24:58
  on
• 24:58
  VC
• 24:58
  perspectives
• 24:59
  across
• 24:59
  the
• 25:00
  retail
• 25:00
  and
• 25:00
  consumer
• 25:01
  goods
• 25:01
  industries.
• 25:02
  Please
• 25:02
  let
• 25:02
  us
• 25:03
  know
• 25:03
  what
• 25:03
  you
• 25:03
  thought
• 25:03
  of
• 25:04
  our
• 25:04
  interview
• 25:04
  with
• 25:04
  Clarence
• 25:05
  on
• 25:05
  social
• 25:05
  media.
• 25:06
  Let
• 25:06
  us
• 25:06
  know
• 25:06
  also
• 25:07
  how
• 25:07
  we
• 25:07
  can
• 25:07
  do
• 25:08
  better.
• 25:08
  And
• 25:08
  as
• 25:08
  always,
• 25:09
  on
• 25:09
  behalf
• 25:09
  of
• 25:09
  all
• 25:09
  of
• 25:10
  us
• 25:10
  at
• 25:10
  Omnitalk
• 25:10
  Retail,
• 25:11
  be
• 25:11
  careful
• 25:12
  out
• 25:12
  there.