May 22, 2025 • 15 mins
ChatGPT and a dream is all you need to build something remarkable in today's world. This revelation comes from Brian Brackine, Managing Partner of Lightship Capital, a venture fund with $1 billion under management dedicated to underrepresented entrepreneurs. The traditional barriers to entry—costly technology, complex coding, expensive infrastructure—have fallen away thanks to AI and cloud services. What remains is the pure currency of creativity, something our community has in abundance.
Brackine shatters common misconceptions about securing venture funding. Forget the notion that you need to corner investors at networking events or force relationships. The real path to attracting investment mirrors professional sports: demonstrate excellence in your craft, generate consistent revenue, and let investors discover you. "The way to get money from a venture capitalist is to stay home, work on the business, crush it, revenue, revenue, revenue... And then let me discover you and say, can I have a piece of this thing that you've built?" This approach stands in stark contrast to pitching an idea nobody wants.
Perhaps the most powerful insight from Brackine addresses the psychological barriers many Black entrepreneurs face even after securing funding. He calls it the "scarcity mindset"—the tendency to conservatively hoard capital rather than boldly investing in growth. Nearly all founders he funds eventually hear the same feedback: "You haven't spent enough, you're not growing fast enough." This hesitation to hire, market, and scale ultimately limits business potential. As Brackine eloquently puts it, "It's like being afraid to go outside. Guess what? You'll never be outside." For those ready to overcome these limitations and think bigger, opportunities abound, particularly at events like Black Tech Week and Afrotech where ambitious, globally-minded entrepreneurs gather. Ready to push past what's holding you back? As Brackine reminds us: "It's great outside."
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Every single year, creativity becomes the only
currency, ChatGPT.
It can code for you.
Right, we can build websites indays.
Now All the technical andexpensive things are all taken
care of Amazon Web Serviceseverything it's.
All that's left is thecreativity.
Speaker 2 (00:18):
Yeah, welcome, welcome, welcome.
What up d hustle?
What's going on?
Oh man, guess where we still atplayer.
I hope it's still miami, yo, westill down south bro, let's
(00:39):
make it short we are at theblack wealth summit at florida
memorial university.
I don't know if you know this,but this is the only black hbcu
in south florida yeah, yeah well, I found that out today yeah, I
keep reminding you right, butwe got a special guest.
We're here with backstage bobbyd um, and y'all know that we
have the speakers on stage andthen we're bringing them
(00:59):
backstage for us to really getsome more ideas or insights into
the conversation they had.
If you missed it, guess what?
We got a big one for you.
Uh, because this one he writeschecks oh, I like that.
Speaker 1 (01:11):
I like people who write checks uh, so we want to
invite uh brian brackine to thestage so, first of all, thank
you so much for pulling up and,uh, give us a quick introduction
yourself.
That gets a cool voice.
I hear it myself sometimes.
Speaker 2 (01:22):
He didn't get the wah , wah, wah for today, but I like
it.
Speaker 1 (01:24):
I like it.
Speaker 2 (01:25):
So first of all, thank you so much for pulling up
and give us a quickintroduction yourself.
Speaker 1 (01:29):
Thank you for having me first of all.
Brian Breckin, I'm the managingpartner of Lightship Capital.
Thank you for the love.
Speaker 2 (01:35):
Yeah, yeah.
Speaker 1 (01:36):
We are a venture fund that has about a billion
dollars under management.
We invest in startups.
We invest in funds, alwayspeople that are underserved.
So communities, geographies,black, brown people, lgbtq, you
name it.
Yeah, don't have this a fairchance that's what's up.
Speaker 2 (01:52):
That's beautiful.
Yeah, that's what I said.
You're writing checks, right Ilike it, again I like it, but I
do want to make sure I justbring this to light in terms of
just the value your uhorganization, your fund, brings
to our community, because Idon't see enough people that
look like me being managingpartners over a fund.
So big round of applause forhim and I believe you have your
partners, your wife.
Speaker 1 (02:12):
Yes, yes, there's actually six partners at the
firm.
Speaker 2 (02:15):
Yes, congratulations, well shout out to the wife and
then the other five.
Speaker 1 (02:19):
Only married to one of the five.
Speaker 2 (02:21):
That's what's up.
That's what's up.
So our conversation today, likeI said, we're going to continue
from what you were mentioningon stage, and one of the things
that I just want to justenlighten the audience around is
, like what is the normalprocess to engage with VCs and
kind of get that conversationgoing?
Speaker 1 (02:37):
This is a very different answer than you're
going to hear.
Many times we're taught thatyou have to kind of like meet
them.
Meet them in a bar, almost kindof corner somebody, force them
into a conversation, force theminto a relationship and
hopefully, months from then youmight get a check.
In my experience, that's neverhow it works.
Speaker 2 (02:55):
Yeah, right.
Speaker 1 (02:56):
The way to get money from a venture capitalist is to
stay home to work on thebusiness crush it revenue,
revenue, revenue, work on thebusiness, crush it revenue,
revenue, revenue.
And then let me discover youand say, can I?
Have a piece of this thing thatyou've built, as opposed to
offering me a piece of somethingthat nobody wants.
Speaker 2 (03:15):
Yeah, yeah, I mean, I think that's powerful because
for me, the work itself showsyour commitment, shows the
passion that you put in it,because it's not the invention,
right, it's also like thepersonality.
The people Tell me how that'simportant also.
Speaker 1 (03:31):
Well, let's liken it to football.
I'm an Eagles fan, so I'm allfootball right now Don't do it.
Don't do it, Go birds.
Speaker 2 (03:40):
All right, let me give you a round of applause.
You're welcome.
You're welcome, are you a round?
Speaker 1 (03:43):
of applause.
You're welcome.
You're a Cowboys fan, buddy, noA Giants fan.
There, you're welcome.
Oh, thank you for saying that.
Speaker 2 (03:52):
You see, everybody that said you're welcome today,
know exactly what happens.
Speaker 1 (03:56):
For the folks listening at home.
He's slamming on a veryexpensive piece of equipment
Because he's so mad about StClaude.
Speaker 2 (04:02):
I'm happy he got a chip.
He's well deservedCongratulations.
Speaker 1 (04:05):
Thank you, brother.
I'm so mad about St Claude.
Yeah, yeah, I'm happy he got achip.
He's well-deserved.
He's well-deserved for sure.
Congratulations.
Thank you, brother.
Thank you.
So we were to take a footballanalogy.
You don't get a spot on theteam by being friends with the
coach and you're not talented.
Right, you've got to work onyour craft, you've got to hone
your skill, you've got to tryout.
Speaker 2 (04:21):
Right, you've got to make combines and stuff like
that.
Speaker 1 (04:24):
Exactly, gotcha.
So why do we think that it'sany different in venture capital
?
It's not about relationshipwith it, with the venture
capitalists, it's about the work.
Speaker 2 (04:31):
Yeah, yeah, yeah for sure.
And then I really appreciateyou bringing that to light for
our audience, because I thinksometime there's just this first
of all barrier that's in frontmisconception of what we need.
But when it comes from someonethat writes check and they tell
you to put the work in, yougotta put the work in because
the other challenge that we have, unfortunately, in our
community is access, right.
(04:52):
So so tell us about that, thatpart of the journey that that
you know is challenging forblack and innovators and
entrepreneurs and now this iswhere relationships actually do
matter.
Speaker 1 (05:02):
So, with the challenge with women minority
companies is that you may haveput the work in, you may have
done the time, you might havesomething investable right, but
the white male venturecapitalist isn't either going to
find you or, if you do, if hedoes find you, they're not going
to invest Right.
Yeah, this is a challenge.
Speaker 2 (05:20):
About 98.9% of all investable assets in this
country are managed by white men, and so I didn't want to do it,
I got it, I got it, I got it, Igot it, I got it.
I got you D, I got it, I got it.
That 2% I trust.
Speaker 1 (05:40):
But we're in a strong 2% and we're growing, yeah,
which is important.
And actually I think this isthe right time.
Right, because the cost ofcreating A world class business
has gone down so much.
Ai is growing so much.
Speaker 2 (05:54):
And.
Speaker 1 (05:54):
If you got ChatGPT and a dream, you can build
something.
Speaker 2 (05:58):
That's what's up.
That's a gem right there.
If you got ChatGPT and a dream,you can build something, yeah
for sure.
And I think the thing thatyou're bringing to light is
definitely the challenge thatwe're up against, because our
culture, by nature is isinnovative.
Right, we had to innovate toget through those tough times.
Right, it's like yo, I don'twant to carry that.
(06:19):
I'm like what is the?
The donkey and horses there?
Let's build something that care, like we.
We are, by nature, alreadyalways thinking about being
innovative and I'm I'm hopingthat hearing that mindset that
you're helping develop uh, givesthem inspiration for them to
actually pursue that everysingle year, creativity becomes
the only currency right becausein this world again, chat chibi
(06:40):
t, it can code for you.
Speaker 1 (06:42):
Right, we can build websites in days now.
Right, it's, all the technicaland expensive things are all
taken care of.
Right, amazon web serviceseverything it's.
All that's left is thecreativity, yeah, and, and
that's what we have?
Speaker 2 (06:54):
Yeah, for sure, for sure, and thank you so much for
enlightening us on that abilityto create.
Now, in terms of some of thechallenges that we face, so
let's say that we are that 2%,we get through and we get that
venture capital.
What challenges do we face interms of just moving past that
seed round and eventuallygetting to that golden IPO type,
(07:16):
because I feel like that 98% isgoing to come after 2%.
Speaker 1 (07:19):
Yeah, one of the biggest something I spend a lot
of time on is scarcity mindset.
Almost 100% of the time, afterI write a check a year later,
I'm going to sit that persondown and say you haven't spent
enough, not growing fast enough,what's wrong?
Why are you scared?
And they always say, look,before I met you, I didn't even
(07:42):
know what a venture capitalistwas, I didn't even have any
access to quick capital and Idon't know that anyone's come
behind you, and so this might bethe last $2 million or $5
million that I ever see.
So they hold on to it.
But holding on to it.
The business doesn't growbecause you're not hiring people
, you're not buying more product, You're not marketing or
advertising.
(08:02):
So our people, we suffer fromscarcity of mindset.
Speaker 2 (08:05):
Yeah, yeah, and I like that that is coming.
Oh, I'm sorry, Say it again forour listeners, for our young
listeners that are notunderstanding.
Speaker 1 (08:13):
For the young listeners.
Our people suffer From scarcityof mindset.
There it goes right there, yeah.
Speaker 2 (08:18):
And I'll say this it's like being afraid to go
outside Guess what?
You'll never be outside, right.
And it's like You're sitting bythe window and seeing other
people and saying, oh, you'veexperienced it Because you saw
other people.
Speaker 1 (08:30):
It's going to limit.
Ladies and gentlemen, it isgreat outside.
Speaker 2 (08:32):
It's great outside.
Speaker 1 (08:34):
Right.
Speaker 2 (08:37):
Yeah, and I'm so excited to hear someone with
your background, with your VCfunds, being able to talk about
this and letting people knowthat's what they're looking for
in terms of innovation.
So, in terms of new ideas thatyou definitely feel like we
should be heading into directory, more innovative on more
(08:57):
creating what would you say thatthat is?
Speaker 1 (09:01):
We're not doing enough in our own spaces.
I'm going to just give you anexample.
So about five years ago andGeneral Motors invested in a
company that was like a digitaljitney service.
So here in South Florida wehave these jitneys Very common
(09:22):
$2, $2.50 rides.
It keeps going up.
It used to be a dollar ride.
Speaker 2 (09:25):
But you know the good old days, good old days exactly
.
Speaker 1 (09:27):
And they run, you know, up and down North Miami
Avenue and they go through ourcommunities to get you downtown,
right.
Essentially, you just kind ofstand in certain spots with your
hands certain ways and theyjust, they know, yeah, they know
who you are.
Yeah, you get picked up.
That's it.
Some, you know white men fromsilicon valley learned about
(09:50):
that and created a version ofthat with an app and they got
bought for like 200 milliondollars from general motors.
They gave them all these newvans and everything and they ran
that thing into the ground,right, when the company here in
miami has been doing that fordecades.
Right, instead of finding thesekids that don't know anything
(10:11):
about a business, yeah, let'sfind the company and the family
yeah, that's already in thatbusiness and give them the 200
million facts, right, so that'swhat.
That's what we do and thefamily that's already in that
business, and give them the $200million Facts, right so that's
what we do in this space.
Speaker 2 (10:21):
Yeah.
So I mean, it's almost likealready knowing that there are
going to be those 98% pitchingideas potentially, but those 2%
opportunities are going to bethose that are actually doing
the work and actually have doneit.
Why aren't we investing inthose communities and those
businesses and that's what yourfirm really does hone in on.
Speaker 1 (10:41):
In fact, that's what all of us are really doing.
I'm going to give you a storyfrom Procter Gamble.
They're one of our investors intheir wonderful group.
Almost all growth is frommulticultural at Procter Gamble.
They've already sell tied toevery white family in every
neighborhood in all of america.
Yeah, there's no more growththere.
All their growth as a companycomes from diverse communities,
(11:05):
so that's where the money's gotto go yeah, 100.
Speaker 2 (11:08):
And then I mean statistic wise, eventually
they're going to be the minority, we're going to be the majority
and we probably already there.
They're just not keeping trackof the numbers like that, right?
So, um, in terms, of your firmand where you all are based out
of.
Uh, you mostly work here insouth florida or nationwide, or
how do people get in contactwith you three key offices.
Speaker 1 (11:27):
We're headquartered in cincinnati, ohio, and that's
why procter and gamble andkroger and others are investors
of ours.
They're all based there yeah um, we also have an office in
washington dcC and office herein Miami.
Speaker 2 (11:37):
Yeah, yeah, that's what's up.
That's what's up.
So one thing that I did see yougave an opportunity for which I
always find amazing when I'mever at a conference or an event
and the speaker says are thereany questions?
And they start bringing the micaround is that you gave a
chance to give you know audiencemembers to pitch you some ideas
.
Speaker 1 (12:03):
So?
So what did you think aboutsome of the pitches?
Good pitches, good pitches.
We had a little scarcitymindset out there, right?
I found myself asking them toask for more, right?
Um, particularly and Imentioned this on stage black
women are so inclined to take asmaller amount and make it work
right, because that's what theydo, yeah, all throughout their
lives, right, every day.
It's a, it's a super skill.
But in this game, if you askfor too little, the answer is
always no Interesting Right?
(12:24):
In the Venture Capital game,asking for more means you must
really have something.
Ooh, that's what's up.
So I want people asking formore.
We talked through that today inour session.
Speaker 2 (12:35):
Yeah, yeah, and listen, if you didn't catch it.
First of all, this is a freesummit.
I don't know how you did notcome here.
Second of all, do you see whowe have here in the seat?
What knowledge he's givenAccess that he gave People that
were attending were pitching toa VC capital, Like.
That's why we have to continueto support our community and do
events like this.
And, yeah, in general, whatwould be one of the last advice
(13:00):
that you would give to someonethat unfortunately did not
attend the event?
You, you, you but definitelywant to make that move into the
realm of, you know, venturecapital and being an innovator
or entrepreneur.
Speaker 1 (13:09):
Sorry, I talked about pouring into yourself.
There's only so many Googlesearches, there's only so many
YouTube universities, right?
Yeah, sometimes you got to meetpeople and be inspired by
what's in front of you.
It happens at Blackwell Summit,right?
It happens at Black Tech Week.
Yeah, it happens at Afrotech.
Even if you're not in thoseindustries, I find that people
(13:33):
should still go to these kind ofconferences because,
particularly with tech, we'realways thinking big and globally
, and it'll expand your mind andyour brand to areas that you
hadn't considered, roger that,so definitely just get out here,
attend.
Speaker 2 (13:48):
Outside.
What did you say?
Speaker 1 (13:50):
It's great outside, I feel good.
Speaker 2 (13:52):
I don't even know my baby swan right now.
I'm trying to figure out wherewe may end up Come outside.
Oh for sure, for sure well, Iwant to say thank you so much
for hanging out with usbackstage with bobby d um and
definitely want to queue up themusic d uh, definitely uh.
Give our audience anopportunity to hear these
messages come from people thatlook like me and you for sure,
(14:12):
and that that voice, that thatthing that's holding you back.
Push it back, because it'sgreat outside.
And we need your skill sets, andthe innovation train is not
stopping.
Why not be a part of it anddefinitely looking forward to
all the contributions and youcan be writing checks, just like
him we will see you outside.
Speaker 1 (14:31):
Any last words before we drop off.
You can find me at Brian Bradkeon Twitter.
I still call it that.
And you can find me at BrianBradke on Twitter.
I still call it that.
Yeah, and you can find me atBlack Tech Week.
That's what's up this July andinto tonight.
Oh, that's what's up.
Oh yeah, Black Tech Week.
Speaker 2 (14:46):
See you there, yo, I need a plug.
You got a media thing.
Speaker 1 (14:49):
You got a whole thing .
Yeah, I need a plug.
I'm trying to speak on stage.
I'm trying to.
I don't even cut tape yetYou're already here.
Speaker 2 (14:56):
Well, I want to say thank y'all so much for pulling
up the backstage with Bobby D.
It's always a pleasure to be inthe presence of black people
that are doing excellent things.
Follow along Description belowAll the links.
You got a book.
No book yet.
No book yet.
Speaker 1 (15:09):
I'm waiting, I'm waiting, I'm waiting.
Too much pressure, right.
Speaker 2 (15:13):
Soon comes.
Every single year, creativity becomes the only
currency, ChatGPT.
It can code for you.
Right, we can build websites indays.
Now All the technical andexpensive things are all taken
care of Amazon Web Serviceseverything it's.
All that's left is thecreativity.
Speaker 2 (00:18):
Yeah, welcome, welcome, welcome.
What up d hustle?
What's going on?
Oh man, guess where we still atplayer.
I hope it's still miami, yo, westill down south bro, let's
(00:39):
make it short we are at theblack wealth summit at florida
memorial university.
I don't know if you know this,but this is the only black hbcu
in south florida yeah, yeah well, I found that out today yeah, I
keep reminding you right, butwe got a special guest.
We're here with backstage bobbyd um, and y'all know that we
have the speakers on stage andthen we're bringing them
(00:59):
backstage for us to really getsome more ideas or insights into
the conversation they had.
If you missed it, guess what?
We got a big one for you.
Uh, because this one he writeschecks oh, I like that.
Speaker 1 (01:11):
I like people who write checks uh, so we want to
invite uh brian brackine to thestage so, first of all, thank
you so much for pulling up and,uh, give us a quick introduction
yourself.
That gets a cool voice.
I hear it myself sometimes.
Speaker 2 (01:22):
He didn't get the wah , wah, wah for today, but I like
it.
Speaker 1 (01:24):
I like it.
Speaker 2 (01:25):
So first of all, thank you so much for pulling up
and give us a quickintroduction yourself.
Speaker 1 (01:29):
Thank you for having me first of all.
Brian Breckin, I'm the managingpartner of Lightship Capital.
Thank you for the love.
Speaker 2 (01:35):
Yeah, yeah.
Speaker 1 (01:36):
We are a venture fund that has about a billion
dollars under management.
We invest in startups.
We invest in funds, alwayspeople that are underserved.
So communities, geographies,black, brown people, lgbtq, you
name it.
Yeah, don't have this a fairchance that's what's up.
Speaker 2 (01:52):
That's beautiful.
Yeah, that's what I said.
You're writing checks, right Ilike it, again I like it, but I
do want to make sure I justbring this to light in terms of
just the value your uhorganization, your fund, brings
to our community, because Idon't see enough people that
look like me being managingpartners over a fund.
So big round of applause forhim and I believe you have your
partners, your wife.
Speaker 1 (02:12):
Yes, yes, there's actually six partners at the
firm.
Speaker 2 (02:15):
Yes, congratulations, well shout out to the wife and
then the other five.
Speaker 1 (02:19):
Only married to one of the five.
Speaker 2 (02:21):
That's what's up.
That's what's up.
So our conversation today, likeI said, we're going to continue
from what you were mentioningon stage, and one of the things
that I just want to justenlighten the audience around is
, like what is the normalprocess to engage with VCs and
kind of get that conversationgoing?
Speaker 1 (02:37):
This is a very different answer than you're
going to hear.
Many times we're taught thatyou have to kind of like meet
them.
Meet them in a bar, almost kindof corner somebody, force them
into a conversation, force theminto a relationship and
hopefully, months from then youmight get a check.
In my experience, that's neverhow it works.
Speaker 2 (02:55):
Yeah, right.
Speaker 1 (02:56):
The way to get money from a venture capitalist is to
stay home to work on thebusiness crush it revenue,
revenue, revenue, work on thebusiness, crush it revenue,
revenue, revenue.
And then let me discover youand say, can I?
Have a piece of this thing thatyou've built, as opposed to
offering me a piece of somethingthat nobody wants.
Speaker 2 (03:15):
Yeah, yeah, I mean, I think that's powerful because
for me, the work itself showsyour commitment, shows the
passion that you put in it,because it's not the invention,
right, it's also like thepersonality.
The people Tell me how that'simportant also.
Speaker 1 (03:31):
Well, let's liken it to football.
I'm an Eagles fan, so I'm allfootball right now Don't do it.
Don't do it, Go birds.
Speaker 2 (03:40):
All right, let me give you a round of applause.
You're welcome.
You're welcome, are you a round?
Speaker 1 (03:43):
of applause.
You're welcome.
You're a Cowboys fan, buddy, noA Giants fan.
There, you're welcome.
Oh, thank you for saying that.
Speaker 2 (03:52):
You see, everybody that said you're welcome today,
know exactly what happens.
Speaker 1 (03:56):
For the folks listening at home.
He's slamming on a veryexpensive piece of equipment
Because he's so mad about StClaude.
Speaker 2 (04:02):
I'm happy he got a chip.
He's well deservedCongratulations.
Speaker 1 (04:05):
Thank you, brother.
I'm so mad about St Claude.
Yeah, yeah, I'm happy he got achip.
He's well-deserved.
He's well-deserved for sure.
Congratulations.
Thank you, brother.
Thank you.
So we were to take a footballanalogy.
You don't get a spot on theteam by being friends with the
coach and you're not talented.
Right, you've got to work onyour craft, you've got to hone
your skill, you've got to tryout.
Speaker 2 (04:21):
Right, you've got to make combines and stuff like
that.
Speaker 1 (04:24):
Exactly, gotcha.
So why do we think that it'sany different in venture capital
?
It's not about relationshipwith it, with the venture
capitalists, it's about the work.
Speaker 2 (04:31):
Yeah, yeah, yeah for sure.
And then I really appreciateyou bringing that to light for
our audience, because I thinksometime there's just this first
of all barrier that's in frontmisconception of what we need.
But when it comes from someonethat writes check and they tell
you to put the work in, yougotta put the work in because
the other challenge that we have, unfortunately, in our
community is access, right.
(04:52):
So so tell us about that, thatpart of the journey that that
you know is challenging forblack and innovators and
entrepreneurs and now this iswhere relationships actually do
matter.
Speaker 1 (05:02):
So, with the challenge with women minority
companies is that you may haveput the work in, you may have
done the time, you might havesomething investable right, but
the white male venturecapitalist isn't either going to
find you or, if you do, if hedoes find you, they're not going
to invest Right.
Yeah, this is a challenge.
Speaker 2 (05:20):
About 98.9% of all investable assets in this
country are managed by white men, and so I didn't want to do it,
I got it, I got it, I got it, Igot it, I got it.
I got you D, I got it, I got it.
That 2% I trust.
Speaker 1 (05:40):
But we're in a strong 2% and we're growing, yeah,
which is important.
And actually I think this isthe right time.
Right, because the cost ofcreating A world class business
has gone down so much.
Ai is growing so much.
Speaker 2 (05:54):
And.
Speaker 1 (05:54):
If you got ChatGPT and a dream, you can build
something.
Speaker 2 (05:58):
That's what's up.
That's a gem right there.
If you got ChatGPT and a dream,you can build something, yeah
for sure.
And I think the thing thatyou're bringing to light is
definitely the challenge thatwe're up against, because our
culture, by nature is isinnovative.
Right, we had to innovate toget through those tough times.
Right, it's like yo, I don'twant to carry that.
(06:19):
I'm like what is the?
The donkey and horses there?
Let's build something that care, like we.
We are, by nature, alreadyalways thinking about being
innovative and I'm I'm hopingthat hearing that mindset that
you're helping develop uh, givesthem inspiration for them to
actually pursue that everysingle year, creativity becomes
the only currency right becausein this world again, chat chibi
(06:40):
t, it can code for you.
Speaker 1 (06:42):
Right, we can build websites in days now.
Right, it's, all the technicaland expensive things are all
taken care of.
Right, amazon web serviceseverything it's.
All that's left is thecreativity, yeah, and, and
that's what we have?
Speaker 2 (06:54):
Yeah, for sure, for sure, and thank you so much for
enlightening us on that abilityto create.
Now, in terms of some of thechallenges that we face, so
let's say that we are that 2%,we get through and we get that
venture capital.
What challenges do we face interms of just moving past that
seed round and eventuallygetting to that golden IPO type,
(07:16):
because I feel like that 98% isgoing to come after 2%.
Speaker 1 (07:19):
Yeah, one of the biggest something I spend a lot
of time on is scarcity mindset.
Almost 100% of the time, afterI write a check a year later,
I'm going to sit that persondown and say you haven't spent
enough, not growing fast enough,what's wrong?
Why are you scared?
And they always say, look,before I met you, I didn't even
(07:42):
know what a venture capitalistwas, I didn't even have any
access to quick capital and Idon't know that anyone's come
behind you, and so this might bethe last $2 million or $5
million that I ever see.
So they hold on to it.
But holding on to it.
The business doesn't growbecause you're not hiring people
, you're not buying more product, You're not marketing or
advertising.
(08:02):
So our people, we suffer fromscarcity of mindset.
Speaker 2 (08:05):
Yeah, yeah, and I like that that is coming.
Oh, I'm sorry, Say it again forour listeners, for our young
listeners that are notunderstanding.
Speaker 1 (08:13):
For the young listeners.
Our people suffer From scarcityof mindset.
There it goes right there, yeah.
Speaker 2 (08:18):
And I'll say this it's like being afraid to go
outside Guess what?
You'll never be outside, right.
And it's like You're sitting bythe window and seeing other
people and saying, oh, you'veexperienced it Because you saw
other people.
Speaker 1 (08:30):
It's going to limit.
Ladies and gentlemen, it isgreat outside.
Speaker 2 (08:32):
It's great outside.
Speaker 1 (08:34):
Right.
Speaker 2 (08:37):
Yeah, and I'm so excited to hear someone with
your background, with your VCfunds, being able to talk about
this and letting people knowthat's what they're looking for
in terms of innovation.
So, in terms of new ideas thatyou definitely feel like we
should be heading into directory, more innovative on more
(08:57):
creating what would you say thatthat is?
Speaker 1 (09:01):
We're not doing enough in our own spaces.
I'm going to just give you anexample.
So about five years ago andGeneral Motors invested in a
company that was like a digitaljitney service.
So here in South Florida wehave these jitneys Very common
(09:22):
$2, $2.50 rides.
It keeps going up.
It used to be a dollar ride.
Speaker 2 (09:25):
But you know the good old days, good old days exactly
.
Speaker 1 (09:27):
And they run, you know, up and down North Miami
Avenue and they go through ourcommunities to get you downtown,
right.
Essentially, you just kind ofstand in certain spots with your
hands certain ways and theyjust, they know, yeah, they know
who you are.
Yeah, you get picked up.
That's it.
Some, you know white men fromsilicon valley learned about
(09:50):
that and created a version ofthat with an app and they got
bought for like 200 milliondollars from general motors.
They gave them all these newvans and everything and they ran
that thing into the ground,right, when the company here in
miami has been doing that fordecades.
Right, instead of finding thesekids that don't know anything
(10:11):
about a business, yeah, let'sfind the company and the family
yeah, that's already in thatbusiness and give them the 200
million facts, right, so that'swhat.
That's what we do and thefamily that's already in that
business, and give them the $200million Facts, right so that's
what we do in this space.
Speaker 2 (10:21):
Yeah.
So I mean, it's almost likealready knowing that there are
going to be those 98% pitchingideas potentially, but those 2%
opportunities are going to bethose that are actually doing
the work and actually have doneit.
Why aren't we investing inthose communities and those
businesses and that's what yourfirm really does hone in on.
Speaker 1 (10:41):
In fact, that's what all of us are really doing.
I'm going to give you a storyfrom Procter Gamble.
They're one of our investors intheir wonderful group.
Almost all growth is frommulticultural at Procter Gamble.
They've already sell tied toevery white family in every
neighborhood in all of america.
Yeah, there's no more growththere.
All their growth as a companycomes from diverse communities,
(11:05):
so that's where the money's gotto go yeah, 100.
Speaker 2 (11:08):
And then I mean statistic wise, eventually
they're going to be the minority, we're going to be the majority
and we probably already there.
They're just not keeping trackof the numbers like that, right?
So, um, in terms, of your firmand where you all are based out
of.
Uh, you mostly work here insouth florida or nationwide, or
how do people get in contactwith you three key offices.
Speaker 1 (11:27):
We're headquartered in cincinnati, ohio, and that's
why procter and gamble andkroger and others are investors
of ours.
They're all based there yeah um, we also have an office in
washington dcC and office herein Miami.
Speaker 2 (11:37):
Yeah, yeah, that's what's up.
That's what's up.
So one thing that I did see yougave an opportunity for which I
always find amazing when I'mever at a conference or an event
and the speaker says are thereany questions?
And they start bringing the micaround is that you gave a
chance to give you know audiencemembers to pitch you some ideas
.
Speaker 1 (12:03):
So?
So what did you think aboutsome of the pitches?
Good pitches, good pitches.
We had a little scarcitymindset out there, right?
I found myself asking them toask for more, right?
Um, particularly and Imentioned this on stage black
women are so inclined to take asmaller amount and make it work
right, because that's what theydo, yeah, all throughout their
lives, right, every day.
It's a, it's a super skill.
But in this game, if you askfor too little, the answer is
always no Interesting Right?
(12:24):
In the Venture Capital game,asking for more means you must
really have something.
Ooh, that's what's up.
So I want people asking formore.
We talked through that today inour session.
Speaker 2 (12:35):
Yeah, yeah, and listen, if you didn't catch it.
First of all, this is a freesummit.
I don't know how you did notcome here.
Second of all, do you see whowe have here in the seat?
What knowledge he's givenAccess that he gave People that
were attending were pitching toa VC capital, Like.
That's why we have to continueto support our community and do
events like this.
And, yeah, in general, whatwould be one of the last advice
(13:00):
that you would give to someonethat unfortunately did not
attend the event?
You, you, you but definitelywant to make that move into the
realm of, you know, venturecapital and being an innovator
or entrepreneur.
Speaker 1 (13:09):
Sorry, I talked about pouring into yourself.
There's only so many Googlesearches, there's only so many
YouTube universities, right?
Yeah, sometimes you got to meetpeople and be inspired by
what's in front of you.
It happens at Blackwell Summit,right?
It happens at Black Tech Week.
Yeah, it happens at Afrotech.
Even if you're not in thoseindustries, I find that people
(13:33):
should still go to these kind ofconferences because,
particularly with tech, we'realways thinking big and globally
, and it'll expand your mind andyour brand to areas that you
hadn't considered, roger that,so definitely just get out here,
attend.
Speaker 2 (13:48):
Outside.
What did you say?
Speaker 1 (13:50):
It's great outside, I feel good.
Speaker 2 (13:52):
I don't even know my baby swan right now.
I'm trying to figure out wherewe may end up Come outside.
Oh for sure, for sure well, Iwant to say thank you so much
for hanging out with usbackstage with bobby d um and
definitely want to queue up themusic d uh, definitely uh.
Give our audience anopportunity to hear these
messages come from people thatlook like me and you for sure,
(14:12):
and that that voice, that thatthing that's holding you back.
Push it back, because it'sgreat outside.
And we need your skill sets, andthe innovation train is not
stopping.
Why not be a part of it anddefinitely looking forward to
all the contributions and youcan be writing checks, just like
him we will see you outside.
Speaker 1 (14:31):
Any last words before we drop off.
You can find me at Brian Bradkeon Twitter.
I still call it that.
And you can find me at BrianBradke on Twitter.
I still call it that.
Yeah, and you can find me atBlack Tech Week.
That's what's up this July andinto tonight.
Oh, that's what's up.
Oh yeah, Black Tech Week.
Speaker 2 (14:46):
See you there, yo, I need a plug.
You got a media thing.
Speaker 1 (14:49):
You got a whole thing .
Yeah, I need a plug.
I'm trying to speak on stage.
I'm trying to.
I don't even cut tape yetYou're already here.
Speaker 2 (14:56):
Well, I want to say thank y'all so much for pulling
up the backstage with Bobby D.
It's always a pleasure to be inthe presence of black people
that are doing excellent things.
Follow along Description belowAll the links.
You got a book.
No book yet.
No book yet.
Speaker 1 (15:09):
I'm waiting, I'm waiting, I'm waiting.
Too much pressure, right.
Speaker 2 (15:13):
Soon comes.
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