Entrepreneurs: Explore New Frontiers in Tech, AI & Blockchain with Matt Wright + Others

Episode Transcript

Speaker 1 (00:00):
The following is a paid podcast. iHeartRadio's hosting of this
podcast constitutes neither an endorsement of the products offered or
the ideas expressed.

Speaker 2 (00:09):
I think everyone's going to have to turn into a manager.

Speaker 3 (00:11):
It's a way for us to honor New Jersey inventors.

Speaker 4 (00:14):
We develop technology that's IoT Internet of Things.

Speaker 5 (00:18):
I'm Richard Gerhart and I'm Elizabeth Gearhart. You've just heard
some snippets from our show. It was a great one.
Stay tuned, especially if you want to start a new.

Speaker 1 (00:27):
Business, ramping up your business.

Speaker 6 (00:31):
The time is near.

Speaker 7 (00:32):
You've given it hard.

Speaker 1 (00:34):
Now get it in gear It's Passage to Profit with
Richard and Elizabeth Gearhart.

Speaker 6 (00:40):
I'm Richard Gearhart, founder of Gearhart Law, a full service
intellectual property law firm specializing in patents, trademarks, and copyrights.

Speaker 5 (00:47):
And I'm Elizabeth Gearhart. Not an attorney, but I do
marketing for Gearhart Law, and I have my own startups
and podcasts.

Speaker 6 (00:54):
Welcome to Passage to Profit, the Road to Entrepreneurship, where
we talk with entrepreneurs and celebrities who tell their stories
about their business journey and also share helpful insights about
the successes that they've had.

Speaker 5 (01:06):
Did you know that two in five Americans want to
start a new business or our business owners. We have
lots of information to help them too.

Speaker 6 (01:14):
And we also talk a little about the intellectual property
that helps them flourish. We have a really amazing guy.
His name is Matt Wright. He's very much into AI,
He's worked with Gaya and we really look forward to
hearing from him.

Speaker 5 (01:27):
And then we have two wonderful guests as well. Kim Case.
She is executive director of the Research and Development Council
of New Jersey and also president of Seeing Communications. She
has got some great entrepreneur stories to tell. And Yazda
Ostich with podular dot Us, an incredible inventor with just
a very cool invention. So stay tuned.

Speaker 6 (01:49):
But before we get to our distinguished guests, it's time
for your new business journey. Two and five Americans want
to start a business or are already business owners, and
we ask our panel every week a question that we
think our listeners would like to hear the answer to.
So this week we're going to ask what are the
common leadership mistakes that can cause your keeam to sink?

(02:11):
So let's go to Matt tell us what are some
mistakes that can screw up your team.

Speaker 2 (02:16):
I think the one common denominator that builds strong teams
is having aligned goals and principles and making sure that
everyone's on a mission. Peer to peer technologies where you
do some form of work and you can get paid
in any geography without some sort of friction.

Speaker 6 (02:29):
That's great. Kim, what are your thoughts What could happen
to sink a team?

Speaker 3 (02:33):
Yeah, I think from my perspective, it's really hiring for
the right fit at the end of the day. So
I really think you have a gut feeling during the
interview process whether or not somebody is a good fit.
And I really don't think you should try to fit
a circle into square at the end of the day.
So you really need to check your candidate well, maybe
give a trial period and then make a decision moving forward.
That's really going to give your team the best outcome.

Speaker 4 (02:55):
Jasna, what are your thoughts conflict resolution? Team member is
going to disputes and they can sometimes hold feelings towards
the project if you don't solve that problem as it arises.

Speaker 5 (03:07):
Elizabeth, I was gonna say communication, that's a tight rope
that business owners walk because you don't want to communicate
too much, Like you're not going to tell everybody everyone's salaries, right,
but you want to communicate enough that people feel safe
and that they feel motivated. So getting the communication right,
I think if you don't get the communication right, that's

(03:30):
a really difficult thing but important.

Speaker 6 (03:32):
Yeah, communication is key, and if you don't do it
right or enough of it, it really can sink your team.
I think one of the things that can sink your
team is just a lack of honesty. I've seen a
lot of companies fail because their management just doesn't feel
like they can be honest with their team members for
one reason. So a lot of good input, Thank you
very much, And now it's time for our first interview.

(03:56):
E mister Matt Wright. He's from Gaya and EVMCA Capital.
He's really wrapped up into this artificial intelligence, crypto blockchain stuff,
so very much a guy of the future. Let's talk
a little bit about the future of AI and the
future of work. Tell us about what you do.

Speaker 2 (04:12):
We're building living knowledge systems right now. There's a lot
of centralized or you know, big AI companies that are
taking your data and they're doing who knows what with it.
It's not to say they're doing anything bad or dangerous,
but we just don't know. It's hard to trust what
is actually happening with your data. There's all kinds of
IP problems happening. There's censorship of the I by you know,
a small group of people in Silicon Valley or DC.

(04:35):
What we're doing is creating more open systems where you
can take your data, put that against AI, and monetize
it over time.

Speaker 5 (04:41):
It does seem like AI is taking over every nook
and cranny of our lives. You're trying to help developers
figure out how to use AI? What is that going
to look like? So people have been programming, and it's
funny because like I feel like with chat GPT, for instance,
I'm being trained to speak in the language of whomever

(05:02):
program Chat GPT because I have to ask the question
the right way to get the answer I want. I
feel like, if you're a developer today and you're not
learning AI and knowing how to use it, you're not
going to be a developer tomorrow.

Speaker 2 (05:13):
Right, This is a great question. So we are taking
what centralized AI does in a giant box as their company,
and we're breaking apart in different components. So developers are
having the opportunity to have a more modular experience where
they can build this in a way that works better
for their data sets or perhaps how they structure their compute,
and then for end users. Ultimately, you know, we will

(05:35):
get to interact with AI in a way that is
open and works in a way that we want to
interact with it. It's a lot more of a collaborative experience.
So we've deployed one hundred and ninety five thousand of
these AI agents in the past four months.

Speaker 6 (05:47):
So what is an AI agent?

Speaker 2 (05:48):
So imagine the chet GBT that itself is an app,
but imagine a bunch of different instances or versions of
what you're interfacing with.

Speaker 6 (05:55):
You know, it's so interesting that we're talking about this
because it's like with AI, we need a whole new
language for us.

Speaker 2 (06:02):
We see a world where there will be workers who
collaborate with AI agents that perhaps do all the busy
work you don't want to do. You know, I think
everyone's going to have to turn into a manager of sorts.

Speaker 6 (06:11):
I think in the legal profession, it is going to
eventually create a fair amount of change.

Speaker 2 (06:17):
To say flat out that it would replace the job
of a lawyer. You know, I don't think that's quite
the case. I think it will make our jobs a
lot easier. I think jobs will change dramatically.

Speaker 5 (06:27):
I do think you're right. I think it's we're all
going to turn into managers.

Speaker 6 (06:31):
Yeah, but you are right. We have always put a
premium on singularity. Would a genius do something better on
AI than you know, normal person?

Speaker 2 (06:42):
And that's why we bring in the blockchain piece, because
you can actually create finite provable works on a blockchain.
And we have a project that's taking two artists historical
works and using AI to build a new work, like
a collaboration. And then that's creating a token essentially, and
so it's crazy like new stuff will happen. So who
owns that then, probably like the family of Picasso at

(07:05):
the royalties.

Speaker 5 (07:07):
I think in the medical industry, AI really can be
valuable because it can read a chart or not a chart,
but it can read like a scan, you know, any
like an MRI or anything, and probably find things like
when you had six months ago to the one you
had today, find things that maybe the naked eye couldn't find.

Speaker 6 (07:24):
Right, they're listening to passage to profit with Richard and
Elizabeth Gerhart. We have a really amazing guy, met Right
from Gaya and EVM Capital. He's very much into AI.
Just to play Devil's advocate. Though I've said this before,
there was a research group in Europe that used AI
to generate individual medicinal compounds that were poison and they

(07:48):
use the AI software to generate over forty thousand compounds
that would kill a human being, and many of them
would not be detectable after the death of the person.
So there is a downside to this too, right.

Speaker 2 (08:04):
Yeah, we're in a new paradigm, Like we work on
open source AI models. So one of the biggest models
we use is provided free by meta like Facebook. It's
called Lama. And there's a lot of folks in the
space who kind of take two sides of the philosophy
of is it good to have the souma technology is
it better to have it controlled by you know, a
small ntity like imagine open AI, Like they have a

(08:26):
whole team that interfaces with different government organizations top secret clearance, etc.
It's really a philosophy of technology, should it be open
or closed? You know, We've had similar challenges in the
past with Linux and Bitcoin as open technologies. But I
think back then it was like could you use open
software to build your own airplane or like medical device?
Less likely. Now it's like can you build yourne you know,

(08:48):
like anthrax? It's scary. It's scary, Like, yeah, that's how
powerful the tech is.

Speaker 6 (08:53):
So do you believe that AI should be regulated?

Speaker 2 (08:56):
I do think it should be regulated at a certain level.
I think the software itself should be open, but I
do believe those that are using it, or perhaps you know,
those that are putting it into application, there should be
some sort of oversight.

Speaker 5 (09:10):
I do think that some of the jobs that the
AI community needs are psychologists and people that can help
help normal people that aren't programmers be able to use
the AI and use the interfaces and have it make
sense to them in some way, because I think there's
a big disconnect there. Like people that are really good
at tech, they're like, oh, yeah, this means this. There

(09:33):
are a lot of people that don't even want to
pick up a computer because it's like I'm not really
sure where to start, right. I mean, there has to
be this sort of user interface, and I know they've
done that in the past, but I think that this
is going to be really important going forward.

Speaker 2 (09:45):
I think that's going to be a big boom is
when I think there's this now the next evolution where
folksing to onboard to new jobs.

Speaker 8 (09:52):
Yeah.

Speaker 6 (09:52):
But another impact area is social media. I mean social
media is almost like crack for so many people. It
is like for me. But as AI becomes more integrated
with some of the algorithms, it's going to be even
more addictive, I think. And they're going to be better
able to hit your hot buttons right and keep you

(10:14):
focused on these things. And so I wonder is that
really good for us in the long run.

Speaker 2 (10:19):
Yeah, I don't think so. And it's I you know,
X or Twitter, Like, I'm not a fan of it
these days. It is chaos. But and I think if
we have more open systems, there's going to be on
the other side, perhaps AI that helps us filter out
all that noise, you know, so it makes our lives
a bit easier. But I think there's a world where
it can collaborate with us. It can kind of protect
us from the AI that's trying to, you know, come

(10:40):
into our life.

Speaker 5 (10:41):
I think there do need to be some laws around it.
I feel like it's like the financial industry. There's a
lot of money in the AI industry, a lot, so
I feel like the way the financial industry is regulated,
I don't know that it needs to be that strict,
although it seems like it's very wild West right now
in AI. I do think there need to be regulations
around it from the government because AI has a lot

(11:01):
of control over our lives, and we did not elect
any of these people that are controlling our lives, right,
so our representatives need to go put some safeguards in
place for us.

Speaker 6 (11:12):
Yeah, I agree, and I mean for our audience. If
you've never experienced AI or actually used it, I mean,
I would encourage you to go to your computer and
type in chat GPT and just play with it for
a few minutes and see what it is all about
and what happens. I mean, I was kind of a
slow adopter of the Internet. It was out there for

(11:34):
like five years before I even started looking at it
because I didn't think it was relevant to my life,
and I think that was a mistake. So you should
really just give it a try and see what it's like.

Speaker 2 (11:45):
I've at least noticed there's this whole thing in the
college world, perhaps even high school where folks are getting
in trouble for perhaps using AI to fix their answer
their tests to their papers. That was the same thing
I was facing in high school, et cetera, on like
don't google this thing. And then now it's like a
core component of my work and I know how to
use Google like a like crazy and not a type

(12:07):
you know, and then use apps. And so I think
the next generation of folks entering the workforce, maybe that's
negative in education space right now, but that may be
a strength in like the next workforce.

Speaker 5 (12:17):
Kind of like these kids that are gamers that are
suddenly making millions of top droning and it's crazy.

Speaker 6 (12:24):
So anyway, we have to wrap up this segment. We'll
be back with more from Matt right right after this
commercial break. You're listening to Passage to Profit with Richard
and Elizabeth Gerhart. Stay tuned for Secrets of the Entrepreneurial
Mind coming up later in the program.

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Speaker 8 (14:39):
Now back to Passage to Profit once again.

Speaker 1 (14:41):
Richard and Elizabeth Gearhart and.

Speaker 5 (14:43):
Our special guest Matt Right and we have been talking
about AI, it's impact on people in society and kind
of what's going on in the field right now. Matt's
an experts so we're going to continue this conversation with Matt.
One of our guests here had a very interesting question,
are policymakers really need to be involved to protect us
from the farious individuals or nefarious AI. So how do

(15:07):
we convince them or get them on board and get
them to even understand what we're talking about.

Speaker 2 (15:13):
I think first you said it, they got to download
chat gibt see what it's about. Maybe, but I think
they'll realize pretty quick that they probably can't put a
lot of their work in there, because I think here,
like it took us seven years to really have some
progress in government at least in the US on crypto
and so like AI is going to be this next
challenge which I think we're just getting started.

Speaker 6 (15:34):
So when we put information on the Internet and then
chat GPT or one of these search engines finds it
and uses it to answer a chat cept question from
somebody else. When we put information on there, how does
it find it? How does it know where to go?
What's the likelihood that somebody's going to find it and
share that with somebody else?

Speaker 2 (15:55):
Yeah, if it's on a in public domain like the
large language models like the as it depends on what
company you're talking about, but like most companies that have
their own large language model are training these things on
publicly available data. If your data is public then, yet
it's likely we're really only seeing the tip of the
iceberg of data that's accessed. But a lot of these

(16:16):
large corporations they're not willing to put that data out
in public.

Speaker 6 (16:19):
In the legal profession, we have companies contacting us all
the time saying, well, you can write your patent applications
using AI. But then I have serious reservations of putting
my client's inventions and technology into this mass database that
anybody else could use. I mean, that's a violation of
our confidentiality requirements. So it's going to be a while,

(16:43):
I think, before you can use AI for anything that's
really super sensitive.

Speaker 2 (16:47):
There needs to be a conversation with politicians, especially on
how this technology is evolving, so that when there comes
to be regulation, it's not biased or uneducated.

Speaker 5 (16:56):
You really do need to take a look at AI now,
because it has been around for a while now, it's
not going away, and it's in aspects of your life
you don't even know about. Even in jobs where say
you're a plumber, you're going to have instruments that will
use an AI program to check the sewer lines or
whatever and find out where the clog is or whatever
it is, and then yeah, you'll go fix it, but

(17:16):
you're still going to have to use AI in your job.

Speaker 2 (17:18):
The guidance probably will be AI automated, so this person
can have more time to spend with their customer or
perhaps you know, just more time to focus on their work.

Speaker 6 (17:27):
That's great. This has been a great discussion. Matt Right
from GYA and EVM Capital. Where can people find you?

Speaker 2 (17:33):
People can find me on LinkedIn or Twitter, Matt Right, Gaia,
gaia and you'll find me there.

Speaker 5 (17:39):
Great passage to profit with Richard and Elizabeth Gearhart.

Speaker 6 (17:42):
It's time now for intellectual property news and guess what
we're going to be talking about? AI?

Speaker 2 (17:47):
Right?

Speaker 5 (17:48):
This one I find hilarious. This comes to us from
China and it's a copyright infringement case involving an AI
generated image. So the plaintiff used a text image generative
AI model, which generative just means it makes a picture
out of AI right right to generate a picture, and
then somebody else took the picture and used it without

(18:08):
their permission, and so they're suing and saying, hey, you
used my copyrighted content, but they got the content from AIS.
It's kind of like do as they say, not as
I do.

Speaker 6 (18:18):
Do your own AI thing. Okay, don't do my AI thing.

Speaker 5 (18:23):
Which is funny because you can generate AI images in
can but you've probably done that, right Matt, And they
come out different every time, so you have to kind
of save them in your canvaccount because you'll never see
it again.

Speaker 2 (18:32):
Right these poor lawyers in the future, they're going to
be suing robots.

Speaker 6 (18:37):
My head is already swimming. There are so many AI
controversies now they're just and there's so many different ways.
You're going to need AI to keep track of all
of the AI case exactly.

Speaker 5 (18:48):
AI is going to be writing all the bills and contents.

Speaker 6 (18:51):
But anyway, the Chinese court they had a valid copyright
in this even though it was created with AI, and
they said the person who created the copyright or the
AI image typed in their own special stuff. They created
the prompt to create the logo, and they said, this
person has a copyright in it. You know, if somebody
else wants to use it, they can't be very interesting

(19:14):
to see how that shakes out in the United States.
But I wanted to ask some of our guests what
do you think about this situation? So Jasna, what do
you think about all of this stuff.

Speaker 4 (19:24):
I am actually excited about AI because it can be
used in our food service industry. I wrote some technology
and food service apps where you would place an order
and pay and all the fulfillments. So the AI is
actually enhancing the technology by predicting what you ordered last

(19:45):
time and just building on that. So actually, in our industry,
it's an exciting time. And we're also working with robots
right now. There's these coffee robots, robots that can make
your food, they can do all kinds of things, So
I'm excited about that. I'm thinking of incorporating robots into
my stands.

Speaker 5 (20:03):
We're going to have to talk about that.

Speaker 6 (20:06):
So Kim, what are your thoughts.

Speaker 3 (20:08):
The first thing I thought of when you brought up
that case was the property concept of adverse possession and
really squatter's rights, right, so you can take somebody's property,
it's not rightly yours, but there's a mechanism by which
you can then it becomes your own property. So that
really is the same concept. And look where that's played out.
You know forever, how long has that been a part
of property law.

Speaker 5 (20:27):
So that's a super good point because there are stories
all the time about squatters basically stealing houses from people.

Speaker 6 (20:33):
Right, yeah, Matt, what is your thought on this case.

Speaker 2 (20:37):
It's really hard to know where the intellectual property is
coming from. It's start to know what it's being used for.

Speaker 6 (20:44):
This is really tough for IP in the news. I
guess the moral of the story is watch your copyrights.
You're listening to passage to profit and we'll be back
after this. Stay tuned for secrets of the entrepreneurial mind.

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Speaker 1 (22:56):
Passage to Profit continues with Richard and Elizabeth Gear Elizabeth.

Speaker 6 (23:01):
What have you been up to.

Speaker 5 (23:02):
I have a few projects going on as always. I
have a podcast I do with Danielle Woolly. It's about cats.
The Jersey Podcats podcast is still going strong. We're having
fun with it. I've been learning a lot of new
stuff about YouTube and podcasting. That's kind of what I'm
doing these days, and so I think I can make
it a lot better. And then also the studio and

(23:24):
the meetup. So I started a meetup with Stacy Sherman
called Podcast and YouTube Creator's Community to see if there
was an interest in podcasting, so then we would remodel
our studio if there was. We wouldn't spend the money
if there wasn't. So we've had a lot of people
come to the meetup. We do it on zoom and
in person. So there's a lot of interest in this
field if you're looking for a place to do something new.

(23:44):
And then the studio we've been remodeling it. It's coming along.
We're hoping to have it done by the end of
the year. We have people that come to the meetup
every month just to see how the studio's doing. So
we've been working really hard on that. But enough about
my projects. We have two amazing guests left to interview.
Kim case Esquire is the executive director of the Research

(24:07):
and Development Council of New Jersey and also the president
of SEING Communications, and you can find her organization at
RDNJ dot org. Kim, you have a lot of great
stories and a lot of good information about what's going on,
so please tell us your story.

Speaker 3 (24:22):
Yeah, so we are in the month of celebration. We
do the Thomas Edison Patent Awards program every year and
it's really exciting for us. It's a way for us
to honor New Jersey inventors from across the state, the
inventors and their organizations, and obviously the unique work that
they're creating. We will be at Bellworks. We'll have about
three hundred attendees who will be there celebrating fourteen interesting

(24:47):
and exciting patents, and then we have five individual award
winners who are very very amazing. I think something that's
really cool, we started to dig into data. Over the
last ten years, we've honored six hundred and fifty inventors exactly,
so that's pretty cool. And then we also have raised
almost two million dollars in funds to support STEM education
and workforce development initiatives.

Speaker 6 (25:08):
A celebration of patents, what could be better than that?

Speaker 5 (25:12):
So many paths did Thomas Edison have us?

Speaker 3 (25:14):
Over? One thousand and one ninety three is like the
number that I'm seeing when you ask that question, is this?

Speaker 6 (25:18):
I would have loved been his patent person, right, that
was a gold mine there.

Speaker 3 (25:22):
You know he would have nicol and dimed you though,
so really efficiently. Yeah.

Speaker 5 (25:26):
Yeah, So he did most of his work in New
Jersey or did he do all of it there?

Speaker 3 (25:30):
I mean, he did almost all of his work in
New Jersey. The lab in West Orange actually is incredible
if you have ever chanced to go there. It's a
national park. It's really a point of inspiration. And that's
actually where we film tribute films for all of our
inventors annually. So it's very exciting.

Speaker 6 (25:45):
It's interesting because of all of those patents, Thomas Edison
had a lot of significant inventions, but I don't think
he had like a thousand, right, So the patents don't
always protect something that actually makes it to the marketplace.
But obviously a great inventor and the patents that protected
the good stuff I think ended up being pretty valuable.

Speaker 3 (26:07):
Yeah, And I mean it dates back so far in
New Jersey history, Like there's so much research and development
that has gone on here. Like we really are the
innovation state. I know people like to highlight Silicon Valley,
but the transistor was invented in New Jersey at Bell Labs,
and that's the silicon part was also here. William Shockley's
lab moved out there afterwards, but it really started here
in New Jersey, right.

Speaker 5 (26:27):
And I know Richard does work with Rutgers, and the
medical research going on at Rutgers is groundbreaking.

Speaker 3 (26:34):
It's incredible. I mean, really, when kids are thinking about
where they want to pursue higher education, I mean, Rutgers
really has to be top on their list. I say
that as a two time graduate though also Rutgers. But
we're actually honoring two patents from Rutgers this year at
our Patent Awards program, and one of them is about
diagnostic for tuberculosis. But it really is an easy way
to help diagnose tuberculosis in areas that are challenged in

(26:56):
terms of their medical diagnostic capabilities. I don't know if
he uses AI.

Speaker 6 (27:03):
Yes, they'll working in there somehow. So you have an
event coming up. What is the date of the event.

Speaker 3 (27:09):
So it's November twenty first at Bellworks in Home Deel,
which is the former Bell Labs.

Speaker 6 (27:13):
Okay, tell us a little bit about some of the
other people that you're going to be honoring in some
of the other inventions.

Speaker 3 (27:19):
Of the five individual award winners, I really want to
highlight the Visionary Award, which is going to Chris Palladino,
who's the president of Devco in New Brunswick. And you
mentioned Rutgers and I think what's going on at the
Helix and really that life Sciences corridor that's happening there
is pretty incredible. We're also honoring with the Science and
Technology Metal Brian Kernighan, who's a professor at Princeton University

(27:41):
and also was a former Bellworks person, and he really
is a computer science entrepreneur, innovator, researcher. Really incredible story
from him. Judith Chef is the executive director of the
New Jersey Commission on Science, Innovation and Technology. She's going
to be honored as our Catalyst Award, which is the
first year we're giving this award. And I don't think

(28:01):
anybody could find somebody better than Judith in the state
of New Jersey. So we have a lot of different
inventors that we're honoring. We have a lot of different
companies ex On Mobile, Bristol, Meyers, squib Ruckers, Princeton. There's
a whole bunch of them. A lot of them are
repeaters and we really don't struggle to find patents to
be nominated every year, and we're excited to see everybody again,

(28:23):
that's great.

Speaker 6 (28:23):
So how long have you been doing this award ceremony
and how did it get started?

Speaker 3 (28:28):
So not me myself, but this is the forty fifth
Thomas Alva Edison Patt Awards ceremony. I myself have been
doing this. This will be my thirteenth ceremony that we're doing.
It really got started because of the Research and Development
Council wanting to highlight what's going on in the state
of New Jersey and really try to brand the state
and really expose not only to the public about what's

(28:48):
going on in innovation, but to the research industry amongst
each other. Right, what is going on in industry, what
is going on in academia, what is going on in government?
Are they really talking to one another? And that's really
the essence of why the Research Development Councils started and
this annual celebration really brings all of that to late.

Speaker 5 (29:05):
That's excellent, And I do want to just interject here
a little bit. Even though this is all about New Jersey,
which is a very innovative place, patents are federal, so
the work being done in New Jersey has an impact
really around the world honestly with the new medicines, with
the new technologies, but they do get a federal patent,
so it's pretty good, honor. How many do you start with,

(29:27):
like you have to call it down to three hundred rate.

Speaker 3 (29:29):
Yeah, So every year we do an open nomination process.
We have a group of researchers who get together. We
have a couple of areas that we look at. We
look at the significance of the problem, the socioeconomic, the utility,
the novelty, the commercial impact. And they take it very
very seriously looking at all of these different patent nominations
and then do a grading system and then come up

(29:50):
with the top runners. There usually is a clear line
of who are the haves and sort of the have nots.
It's really an incredible process. But to your point about
New Jersey really being global when it comes to innovation,
so our vision is growing stem advancing innovation, impacting the world.
And really, when you think about dating back to when
all of this innovation started, companies like Johnson and Johnson, right,

(30:12):
how far reach is like the band Aid? Right, everybody
knows that. So it's so incredible, right, and it's so
incredible that we have that here in New Jersey and
really have to treasure it and amplify that message.

Speaker 6 (30:24):
When we talked before the show, you were talking about
some of your favorite inventors.

Speaker 3 (30:30):
The one story that I had mentioned was John Mooney,
who is the inventor of the three way catalytic converter.
So he is really a great Jersey story. Born in Patterson,
lived in Wycoff, worked at PSG, went to Seat Hall,
then went to njat right, these are all New Jersey places,
and then went to Engelhart which is now BSF to

(30:51):
work in the emission space and he invented the three
way catalytic converter. And I was very young in my
career when we first honored him, and so I was
really just doing my best to get as much information
on our winners as possible. So when I called him
up and told him he was going to be honored,
he asked me to come to his house to look
through his pictures to pull things for a tribute film
that we were doing. So I said, okay, I went

(31:13):
to his house and I sat at the table with him,
his wife, and one of his daughters, and so we
go there we pull these pictures out. But then the
daughters were telling me of the story about how they
used to be driving the car around the block so
they could log enough miles so that they could have
like a good product at the end of the day,
Like is this device working right? Is this invention working?
Is it really capturing you know, the bad things that

(31:33):
are coming out of cars? And I thought that was
just so incredible. But he also came to the ceremony
with his whole family flanked around him, and they just
adored him and his work and were so honored to
have him as their father and doing this work in
New Jersey and he didn't stop there. I mean, he went,
he worked with the un he went all across the
globe because he had to convince car dealers to use
this device, right, that it was good for them.

Speaker 5 (31:55):
So it removes toxins from the exhausted vankles, basically, right.

Speaker 6 (31:59):
And there was a lot of pushback on that. I remember,
like why do we need these? It reduces gas mileage
and all this other stuff. But you think about how
much junk would be put into the air if somebody
hadn't come up with something like that solved the real problem.

Speaker 3 (32:13):
And he actually perfected it, so an improved gas mileage ultimately,
so even though that was a problem to start, he
actually resolved that. He also won the National Medal of
Technology and Innovation, so that was also very exciting.

Speaker 6 (32:24):
Well, that's a very inspiring story and obviously a very
smart person, but kind of maybe an ordinary person too,
in the sense that you know, he used his engineering
skills to make a big.

Speaker 3 (32:35):
Impact, and I would say just passionate and finding the
right platform in place for himself to really drive what
he was interested in. That's what I would say about
him for sure.

Speaker 5 (32:44):
The whole idea of the patent is that people do
get rewarded for doing something that benefits society and they
get to support themselves and do more of that. Because
if you couldn't protect your work and your ideas with
the patent to block everybody from compying you in just
selling it for a couple books cheaper, then you wouldn't
have the money to go do the next project.

Speaker 3 (33:05):
Right, Right, And you're saying that almost from an individual perspective, right,
But it's the corporate perspective too, is right to protect
that work so that you can continue to invest in
research and development.

Speaker 6 (33:15):
Right. And the other part of it too is that
as part of your patent, you're writing up the invention
and you're telling people how to do it, and so
people can read this and they can learn from it
and they can make the next iteration, Whereas in the
past the concern was that people would keep the technology
to themselves and that would slow the pace of innovation.

(33:38):
So the system is working well. It seems to the
US has one of the most innovative economies in the world,
and it also has one of the strongest patent systems,
so there could absolutely be a connection there.

Speaker 5 (33:50):
Kim Case, executive director of the Research and Development Council
of New Jersey and also the president of Seeing Communications.

Speaker 6 (33:58):
Where can people find you, Kim.

Speaker 3 (34:00):
So You can go to RDNJ dot org, which is
the Research and Development Council of New Jersey's website. We're
also on Twitter, We're also on LinkedIn.

Speaker 6 (34:06):
Well, thank you very much for joining us.

Speaker 5 (34:08):
Thank you right and if you really are interested in innovation,
a great place to.

Speaker 6 (34:12):
Follow and for all your intellectual property meetings, patents, trademarks
and copy rights, make sure you check out gar Heart Law.
Our website is readily available and you can book a
consultation with one of our attorneys.

Speaker 5 (34:23):
You can go to learn more about patents dot com.

Speaker 6 (34:26):
You could do that and download a white paper and
download a white paper Passage to profit with Richard and
Elizabeth Gerhart.

Speaker 5 (34:32):
Now we are anti Yana Ostiache full disclosure. She is
a gear Heart Law client. She has a very cool
modular system for events. It's called Podular pod U l
A R. And the website is podular dot us. So
ya please tell us all about it.

Speaker 4 (34:49):
My podular system is a modular sectional twelve foot around
bar so it's like a little kitchen. It's a whole
system that can serve as a food service counter, but
it can be a cooking demonstration system. It's made for
urban spaces. So people have asked me, why not food truck. Well,

(35:12):
food trucks you can't pull up to the fifty seventh floor,
and so this thing you can put in your elevator
in sections, in quarter sections and take it up to wherever,
even a rooftop, and set it up and then you
can start your business. Like if you're selling beer, you
can do undercounter beer dispensers. If you're selling juice or

(35:32):
smoothie bowls, we have systems that we put together with refrigeration,
stovetop for cooking surface. You can set up a system
within hours rather than months, which typically would take six
months to build out a restaurant, and it would take
you possibly a lot of money quarter million to half
a million to set up a restaurant, So that eliminates

(35:54):
that startup cost to a small entrepreneur. Now, if you
want to set up two or three stands, this is
also possible, like a small food hall. You can put
it all together and maybe you want to serve different
items sandwiches or juices or whatever, coffee, you can set
it all up into a food hall system in a

(36:14):
building lobby or a shopping center or a kiosk. Currently
I'm working with the City of Chicago. One person wants
to put it in the park like a concession stand.

Speaker 5 (36:26):
Yeah, they do that in Brant Park here in New York.
You're selling to somebody that's in the food industry who
wants to have a little pop up restaurant somewhere, or
even a restaurant that stays somewhere.

Speaker 2 (36:35):
Right.

Speaker 4 (36:36):
Yeah, it could be permanent. It doesn't have to be
a pop up. It's perfect for pop ups, but you
could have it as a permanent fixture that's your food
service counter instead of having to order a build out
by a carpenter or a whole team. We have UD walls,
which is patented by Gearhard Law.

Speaker 6 (36:56):
The I'm smiling. I can't help myself.

Speaker 4 (37:00):
All our systems are patented by Gerhardlat a wonderful attorney,
David Postalski, who guided me through this step by step
system because I didn't know how to go through that process.
But we have a utility distribution wall that's hidden under
this beautiful surface and you don't actually see, but there's

(37:20):
like wiring there's plumbing, cold and hot water supply, greywater disposal.
All these things are set up so you can have
a little kitchen and go and sell your product.

Speaker 6 (37:32):
That sounds great. So where did you come up with
the idea for this.

Speaker 4 (37:35):
Well, I was working in the real estate industry as
a commercial industrial broker, and I was representing clients in
a small restaurant space, and I realized everybody was limited
to like these huge leases, long term leases. You had
to do ten years, five year lease, And I thought,
couldn't it be a little more flexible, Like, if I'm

(37:57):
starting up a small business, I don't want to be
with this huge lease and this huge build out, and
I may not have the funds, So I want to
start up small. Maybe I want to sell my homemade
smoothie bulls or juice packs or whatever it is that
I want to sell. How would I sign up five
thousand a month lease. How would I get the money
to build all these systems? So I thought maybe I

(38:18):
could put it into one system that you can buy
and set it up anywhere. And if your business is slow,
let's say in New York, you may want to move
down to Florida and then sell your products in another
location and you're not obligated to your build out. You
may have to renegotiate that lease with your landlord, but
at least your buildout is ready to go. Put it

(38:40):
in a truck and move right.

Speaker 5 (38:43):
Yes, now, your brain never quits working because you have
developed other products since Yes, and I want to hear
about the robots.

Speaker 4 (38:52):
So we developed the technology that goes as an IoT
Internet of things where we have the tech actually regulating
your temperatures in your food service equipment. It's reading the temperatures. Currently,
each individual owner has to go in or the manager
with a thermometer. So our technology has built in systems

(39:15):
that can read your temperatures, that warn you of failure,
tell you when things are dropping, and it can intervene
and fix your systems immediately. And you can do this remotely,
you can do it on site. We also have order
and pay systems. If you're let's say in a building,
your tenants can use this app to order food delivered
or drinks or coffee delivered up to their unit and

(39:38):
they don't have to go to the local big chain
to buy their coffee, but they can order from you
and you can offer it as an amenity. I'm thinking
about adding robots to my coffee stands, and that is
because there's these cool robots just came out and they
match my stands perfectly. They look beautiful. They're like white
and with blue lights.

Speaker 6 (39:59):
I think I've seen videos of them where they're like
serving beer and they're talking with the patrons right like,
just like in a normal type of voice. Right.

Speaker 4 (40:07):
Yes, Yes, that's what I wanted to incorporate some I'm
working with a company that builds the robots and they're
gonna put them in to our stands. So it took
me a while to get this off the ground, but
we're ready to sell. Anybody wants to order it, go
to Popular do us and we can talk about how
to order this. Send me a message and you can

(40:27):
take it from there.

Speaker 5 (40:28):
Do you think schools could do it?

Speaker 4 (40:30):
Yes? I had a program for like school lunches and
that would be amazing, Especially the robots that make vegetables
and bowls and things like that. You could put that
into a school and use our technology apps to order
the food, pre order it so it we'll cut down
your student weight lines. Because I don't know, I've been

(40:50):
in high school and there's like hundreds of kids waiting
to pick up their lunch.

Speaker 6 (40:54):
These things can be taken apart and put back together
again pretty easily, right.

Speaker 4 (40:58):
That's the big, big advantage of having something that you
can take apart. Comes together in twelve feet, so you
can fit like four or five chefs inside the unit,
but you can take it apart. I've tried to fit
one into an elevator here in New York on Fifth Avenue,
and it fits one quarter section fits.

Speaker 2 (41:16):
Seems amazing. Yeah, like talking to brands like I could
imagine them wanting to get into those spaces like offices
and events.

Speaker 5 (41:23):
So yes, are you using a marketing agency to get
the word out on.

Speaker 4 (41:26):
The not yet. I just started with I'm a little budget,
self funded bootstrap, so everything. I just started working with
a company that outsources marketing to underrepresented countries to help women.
So these college graduate women sign up and they do
your marketing. It's called eyeworker, and they'll match you with

(41:48):
a person that can help you. And I started doing
that recently. So we started doing a little more social
media and a little more.

Speaker 5 (41:54):
Presencecause I feel like if you could put the pictures
of these everywhere everybody. I just feel like it could
be the next biggest thing. You just got to find
the right marketing.

Speaker 4 (42:04):
I think so too. I have not found the right
marketing agency. I'm working on it. Maybe we can put
one in Times Square.

Speaker 2 (42:12):
There are also these massive ghost kitchens in New York.
If you're ordering food on like uber eats and like
very beautiful pictures like food comes, you know that was
not done in a small like you know, mom Paw restaurant,
It's like done at scale. I feel like they'd want
more distribution.

Speaker 4 (42:26):
Really cool idea though, I would imagine. I saw they're
doing a lot of things with Walmarts. I'd love to
get into Walmarts and have one of my beautiful pods
and they're serving coffee or whatever. I'm working on all channels.
If anybody knows anyone and wants to help, we're open.

Speaker 5 (42:44):
Right So, if somebody was going to use it for
a corporate event, though they would probably not buy it
direct from you, they would have somebody that bought one
from you come and set it up and do their
corporate event with this kitchen.

Speaker 4 (42:56):
Right right now, I am the only one selling it.
So my manufact actoring as in California that took me
a long time to get to We try to get
estimates from different countries, and California came in as our
best manufacturing company. So we're just starting to build them.
We're just starting to sell them. So we're in the

(43:16):
beginning of this whole process.

Speaker 5 (43:19):
So really like an event planning company would buy one.

Speaker 6 (43:23):
Yes, are you open to investors?

Speaker 4 (43:27):
We're open to investors. If somebody is interested in investing again,
we can go to our website and send a note
and then we can have a conversation.

Speaker 5 (43:37):
I would encourage everybody to go to the website and
take a look at these things. They're amazing. It's p O,
d U, la R dot us. I see these popping
up everywhere in twenty twenty five and people are gonna
be like, Wow, she was on that radio show Passage Profit.

Speaker 4 (43:52):
That would be amazing.

Speaker 5 (43:54):
Passage to Profit The Road to Entrepreneurship with Richard and
Elizabeth Gearhart. Next we're going to just seeks of the
entrepreneurial line where everybody gives that one little tidbit of
wisdom that they don't normally talk about but that's really
helped them. We will be right back.

Speaker 12 (44:08):
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When I left my job as a Wall Street banker
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(44:29):
and expertise. That's why I started usehabits dot com, where
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Speaker 9 (44:38):
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Speaker 7 (45:20):
Do what I did.

Speaker 2 (45:21):
Make a quick call right now to learn more.

Speaker 8 (45:23):
Thank you.

Speaker 10 (45:24):
Eight hundred four to two five four eight oh three,
eight hundred four to two five four eight oh three.
Eight hundred four to two five four eight oh three.
That's eight hundred four to two five forty eight oh three.

Speaker 8 (45:37):
It's Passage to Profit.

Speaker 6 (45:39):
Alicia Morrissey is our programming director at Passage to Profit,
and she's also a fantastic jazz vocalist. You can scroll
to the bottom of the passageprofitshow dot com website and
check out her album. We have Matt Wright from Gaya
and EVM Capital. He's really wrapped up into this artific intelligence,

(46:01):
crypto blockchain stuff, so very much a guy of the future.

Speaker 5 (46:04):
It does seem like AI is taking over every nook
and cranny of our lives. You're trying to help developers
figure out how to use AI. What is that going
to look like? So people have been programming and it's
funny because I feel like with chat GPT, for instance,
I'm being trained to speak in the language of whomever

(46:25):
program chat GPT, because I have to ask the question
the right way to get the answer I want. I
feel like, if you're a developer today and you're not
learning AI and knowing how to use it, you're not
going to be a developer tomorrow.

Speaker 2 (46:35):
Right, this is a great question. So we are taking
what centralized AI does in a giant box as their company,
and we're breaking apart in different components. So developers are
having the opportunity to have a more modular experience where
they can build this in a way that works better
for their data sets or perhaps how they structure their compute.
It's a lot more of a collaborative experience. So we've

(46:57):
deployed one hundred and ninety five thousand of these agents
in the past four months.

Speaker 6 (47:01):
So what is an AI agent?

Speaker 2 (47:02):
So imagine the chet GBT that itself is an app,
but imagine a bunch of different instances or versions of
what you're interfacing with.

Speaker 6 (47:09):
You know, it's so interesting that we're talking about this
because it's like with AI, we need a whole new
language for us.

Speaker 2 (47:16):
We see a world where there will be workers who
collaborate with AI agents that perhaps do all the busy
work you don't want to do, you know, I think
everyone's going to have to turn into a manager of sorts.

Speaker 6 (47:26):
I think in the legal profession it is going to
eventually create a fair amount of change.

Speaker 2 (47:32):
To say flat out that it would replace the job
of a lawyer, you know, I don't think that's quite
the case. I think it will make our jobs a
lot easier. I think jobs will change dramatically.

Speaker 5 (47:42):
I do think you're right. I think it's we're all
going to turn into managers.

Speaker 6 (47:45):
Yeah, but you are right. We have always put a
premium on singularity. Would a genius do something better on
AI than you know, normal person?

Speaker 2 (47:56):
And that's why we bring in the blockchain piece, because
you can actually create finite provable works on a blockchain.
And we have a project that's taking two artists historical
works and using AI to build a new work, like
a collaboration, and then that's creating a token essentially, and
so it's crazy like new stuff will happen.

Speaker 5 (48:14):
So who owns that then.

Speaker 2 (48:16):
Probably like the family of Picasso at the royalties.

Speaker 5 (48:21):
I think in the medical industry, AI really can be
valuable because it can read a chart or not a chart,
but it can read like a scan you know, any
like an MRI or anything and probably find things like
when you had six months ago to the one you
had today, find things that maybe the naked eye couldn't find.

Speaker 2 (48:38):
Right, Yeah, we're in a new paradigm. Like we work
on open source AI models. So one of the biggest
models we use is provided free by meta like Facebook.
It's called LAMA. And there's a lot of folks in
the space who kind of take two sides of the
philosophy of is it good to have the SOMA technology
is it better to have it control by you know,
a small entity like imagine open ai. They have a

(49:00):
whole team that interfaces with different government organizations, top secret clearance, etc.
It's really a philosophy of technology, should it be open
or closed? You know, we've had similar challenges in the
past with Linux and bitcoin as open technologies. That's how
powerful the tech is.

Speaker 6 (49:16):
Matt Right from GYA and EVM Capital. Where can people
find you?

Speaker 2 (49:19):
People can find me on LinkedIn or Twitter, Matt Right, GAIA,
G A I A and you'll find me there.

Speaker 5 (49:25):
Great Passage to Profit with Richard and Elizabeth Gearhart, and
now it is time for Secrets of the entrepreneurial mind,
and I am going to go to Matt first. It's Matthew, right,
m A T t h E w w r I
g h T on LinkedIn. I just want to spell
his name because there might be more than one. But Matt,

(49:47):
you're the AI expert, cryptocurrency, all of it. Do you
have a secret you can share with our audience?

Speaker 6 (49:53):
Be curious?

Speaker 2 (49:54):
And for me that's what been Be curious to be passionate.
If it's not interesting to you, maybe don't go down
that rabbit hole. But at some point, technology is all
around us. I think for me it's always been you know,
how do we use it to make more impact? How
do we make it improve our lives? So for me,
that curiosity and that passion just drove me.

Speaker 5 (50:13):
Excellent. Kim Case with r d NJ dot org, the
Research and Development Council of New Jersey. Is there a
secret you can share?

Speaker 6 (50:21):
Yeah?

Speaker 3 (50:21):
Kind of similar to MA. Don't just follow your passion aimlessly, right,
because that's probably not going to get you there. But
if you direct that passion, you have purpose. I think
that you're probably going to get pretty far with that.

Speaker 5 (50:32):
Great advice. Yes, Ostich with Popular p O d U
l A R dot us. Do you have a secret
you can share?

Speaker 6 (50:41):
Yes, I do.

Speaker 4 (50:42):
I have several. One of them is not to be
afraid of failure. If you fail, you just have to
get up and keep trying. Persistence. Never take anything like
a negative for a determining factor.

Speaker 5 (50:55):
That's great advice. Yes, Now, Richard your heart lot A
R H A R T law dot com. What is
your secret?

Speaker 6 (51:05):
I was going to take a slightly different track here.
I always like to talk about financial things in the
numbers because I think that's something that entrepreneurs really need
to pay attention to. And I've been learning a lot
about what makes companies profitable, and one of the things
is pricing. If you want to improve your profitability, improve

(51:27):
your pricing even one percent. So a one percent increase
or improvement in prices usually can translate into almost ten
percent increase in profitability. If you try to cut costs
by one percent, that will improve your profitability by six percent.
And if you try to improve the volume that is

(51:47):
the amount of stuff that you're selling, by one percent,
it only improves profitability in general by four percent. So
if you're trying to make your business better, the best
way to do it is to look at your price
and try to improve things there.

Speaker 5 (52:03):
And my secret this time is be flexible so that
you don't get stuck. If you're trying something and it's
new and it doesn't work, be flexible so you can
get yourself unstuck and find a way to make it
work or maybe do something different.

Speaker 6 (52:18):
Yeah, I hate being stuck. Well that's it for us
this week. Passage to Profit is a nationally syndicated radio
show appearing in thirty eight markets across the United States.
In addition, Passage to Profit has also been recently selected
by feed Spot Podcasters database as a top ten entrepreneur
interview podcast. Thank you to the P to P team,

(52:41):
our producer Noah Fleischman, and our program coordinator Alicia Morrissey
and our studio assistant Brissy Cabbasari. Look for our podcast
tomorrow anywhere you get your podcasts. Our podcast is ranked
in the top three percent globally. You can also find
us on Facebook, Instagram, x and on our YouTube channel.
And remember, while the information on this program is believed

(53:03):
to be correct, never take a legal step without checking
with your legal professional first. Gearhart Law is here for
your patent, trademark and copyright needs. You can find us
at gearheartlaw dot com and contact us for free consultation.
Take care everybody, thanks for listening, and we'll be back
next week.

Speaker 1 (53:19):
The proceeding was a paid podcast. iHeartRadio's hosting of this
podcast constitutes neither an endorsement of the products offered or
the ideas expressed