May 20, 2024 • 32 mins
MapableUSA.com: When you want to dive deep into the effectiveness of crowdfunding, you go to the guys who wrote the book on it – or at least helped in getting the legislation passed. In this podcast, Woodie Neiss, a partner at Crowdfund Capital Advisors, explains how his company is taking a data-driven approach to equity crowdfunding and explains how investor sentiment has taken crowdfunding from a unknown concept to a $2.5 billion dollar industry!
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(00:22):
Not the USA podcast where we putyou on anthesis. Rom Costa broadcasting live
from the Mappable USA Studios here inLas Vegas, and folks, hey,
we're gonna talk about crowdfunding. I'mgonna go right for the horses now,
so man of the people actually wrotethe laws almost. So before we do
that, let's introduce Vicky hutch Malafrom the World Talking Market. VICKI,
(00:44):
how are you doing today? Fabulousday in Vegas, run like every day.
I'm doing great and looking forward toThis is going to be an exciting
podcast with our guests because we're goingto take crowdfunding from a different point of
view in the statistical data interpretation ofhow people and companies are using crowdfunding.
(01:07):
So I think that's going to befun, exciting and let's get started all
right. Well, you know Ilove my baseball and advanced analytics, so
let's just bring us the crowdfunding now. So well as we do that,
let's introduce what are you? Whatis the partner over at crowdfund Capital Advisors?
What are you? How you doingtoday? I am great, Ron,
Vicky. It is exciting to behere with you today. Glad,
(01:32):
thank you. We'll have you onboard for the for the podcast, and
uh, I know we've been talkingto you for a while. I see
all your your posts online and it'salways really interesting stuff. And and uh,
you know, like we said beforewe started the podcast, we're always
talking about companies and marketing and strategiesand this, and now we're going to
kind of get into it from anumbers perspective and and and you know who
better than you for that. Butbefore we do that, let's, uh,
(01:53):
let's tell the audience a little bitabout your background and you know how
you got to where you are rightnow? Sure, thanks from so.
I started my career on Wall Streeton the trading floor for UBS, which
is now pain Weber. I switchedover to the retail side and moved out
to California. Left that and wentto work for a Silicon Valley startup that
(02:14):
was acquired by Oracle, but learneda lot about Sandhill Road and how startups,
high growth ones are funded through venturecapital and used that to scale.
I left that and started my ownhealthcare technology company with my brother in law
in Washington, d C. Calledflavor r Ex. We favored medicines for
children, so the more compliant wewere a three time eight five hundred company.
(02:38):
We won EYS Entrepreneur of the Yearaward, and we grew that from
one pharmacy of forty thousand. Wesold back to a private equity group.
So I really got a feel forstarting, scaling, funding, and exiting
a business. When I edited that, I was frustrated about the fact that
I could only raise money from accreditedinvestors. I learned that when I was
(03:00):
running flavor X, and so Isat down with three friends of mine and
I said, you know, we'reall successful entrepreneurs. We all use venture
capital. We all know that theyuse reg D for these exemptions under which
you know, we raised capital.What ends. We merged the principles of
Kiva and Kickstarter, which is donationand sort of you know, rewards type
(03:21):
crowdfunding or you know, a debtreally on the Kiva side with you know,
this social network that we're seeing andsort of early stage venture capital.
And so we sat down and wrotean eight bullet point framework on for what
you know, regulation crowdfunding might looklike. I was in you know,
Washington, d C. I shoppedat around to the people on the hill
(03:42):
that I knew and was able toget some traction hearing was called the White
House had someone listening at that hearing. They reached out subsequent to that,
and the bill really started took form, then went to the House, passed
the House, we went over theSenate. We testified, believe it or
not, five times in front ofHouse and Senate panel hearings. So it
(04:04):
was very hollywood esque in how thathappened. And in four hundred and sixty
days, guys, we we wentfrom idea to sitting in the rose Garden
of the White Houses. President Obamasigned our bill into law. Of course,
yeah, I got that. Yeah, that's amazing how a non politician
actually gets things done right right,And and you know what that was,
(04:29):
That was the joke because he said, no, never in the history of
you know, at least in hisyou know, presidency, has something ever
happened so quickly and by people thatwere not involved in politics, because we
were entrepreneurs and literally when we walkin the halls of Congress, people are
like, well, what lobbying firmare you with? What law firm are
(04:49):
you with? We're like, we'renot, We're just entrepreneurs, and they're
like wait really, So it wasthat was one of the lessons. You
just need to show up and Washington, d C. And tell people why
you're there and what you want,because you know, it's just an insular
circle there, and people from theoutside don't really come in. Yeah,
(05:11):
exactly. And plus they have noconcept of how business works or how money
works, or you know, theylike you said, they're insular and they
just don't know what is surprise toget somebody who knew what they were talking
about and make something happen that wasfabulous. Yeah, I mean you would
have been surprised. You know.We sat in the offices of representatives and
(05:33):
senators, particularly the ones that werekey in crafting legislation until eleven pm some
nights, where we were you know, going back and forth and debating the
pros and cons of certain aspects ofthe bill and being like, listen,
you know, if we want todo this, how do we protect investors?
And so like, I know allof the inside story of the sausage.
I mean remember talking with Andy Greenand Senator Murcley's office where it's this
(05:57):
like, you know, are thesesecurities freely transferred? And I was like,
well, you know, investors doone out. I don't understand why
you need to lock them up.And he's like, yeah, but what
about pumping and dumping? And Iwas like, okay, so if we
want to cut out pumping and dumping, let's just put a twelve month holding
period on the securities. And that'swhere the twelve myth p hoping period came
from. Everyone's just like, youknow, where did the sec come up
with it? I was like,they didn't. Roberts sitting in the office
with Andy Green and we put thatin the bill. Yeah, oh fabulous.
(06:23):
Well, you know you mentioned earlierabout companies like Kickstarter, et cetera,
when crowdfunding just came out, andnow all of a sudden, we
had this advanced version of equity crowdfunding. It started off slow, like olopings
do for the most part, butit's been exploding recently and now it's it's
what a two point five billion dollarindustry or whatever that is. You know,
how did that happen? Yeah,that's a great point. So when
(06:46):
we were leaving the White House carryingKerrigan, who was our chief advocate.
She runs a small business and entrepreneurshipcouncil in Washington, d C. And
she really was the one that connectedus with all the key players in the
Senate Banking Committee and House Financial ServicesCommittee. She said to me, she's
like, you know, what dohe I just want to, you know,
cap your expectations this. No one'sgoing to know what you guys have
(07:10):
done for five years. And Iwas like what, and she's like,
yeah, it's I equate this themedical savings accounts. You know, we
passed it. It was five yearsbefore anyone started using them, and ten
years later everybody had one. Shegoes, so I would give it at
least five years before people really startunderstanding what it is, and another five
years until everybody really accepts it.And that's what we've seen in the data.
(07:30):
So you know, like I toldyou, I started in on Wall
Street and wants Silicon Valley. InSilicon Valley, I worked for a database
company, so I took that experienceof creating databases and I created the database
for the industry that aggregates information onevery single company that's raising money online.
So we collect information on one hundredand twenty five data points in every company,
(07:54):
from what they do, where they'relocated, the industry that they're in,
their evaluation over time, all theirfinancial information, but we layer on
top of that something that no oneelse has, which is not even pitchbook
or crunch base, and that's whatwe call an investors sentiment. And the
beauty about these deals that are happeningthrough regulation, crowdfunding and are happening online
(08:15):
is the digital footprint that comes alongwith it. And so if you're tracking
these offerings like we do every day, you get to see where investors are
deploying checks and how much they're deployinginto active offerings. And right now there's
about six hundred active offerings on adaily basis that are taking place. Of
course, in the industry launched throughtwenty so it's grown dramatically, and we've
(08:39):
seen how even during COVID, thisreally stepped in and helped provide the financing
for a lot of these businesses thatcouldn't find capital elsewhere. Oh wow.
Well, and you know, froman equity crowdfunding perspective, but you have
different you have the reggae the regCF. Are these data points kind of
(09:05):
uh, you know, does it? Does it? Does it take that
into consideration that there's two different things. Yeah, yeah, that's a great
question. So you've got when theJob Act was passed through three parts of
that that really transform the private capitalmarkets. To your point you just mentioned
Reggae, and that allows companies toraise you know, up to seventy five
(09:26):
million dollars online from both retail andcredit investors. But it's a qualified offering,
meaning that you have to go throughthe SEC. They have to review
all the documents and once they're satisfiedthat you have enough disclosures in there for
investors, do they qualify it,which is that's that's just something you have
everything in there that's necessary. They'renot actually giving it, as you know,
a signature of approval saying investors shouldinvest in this. But you know
(09:50):
that that process, that qualification processis very burdensome, costly. You need
a lot of lawyers, you needaccountants, and it takes time and so
it's you know, it's about onehundred I would say one hundred to one
hundred and fifty thousand dollars to getone of those done. So it's a
very different type company that uses it. Five oh six C was the other
(10:11):
one in the jobs outside of regulation, crowdfunding that really transformed the private capital
markets. And five oh six Ctook what was already there for five or
six B, which is a creditinvestor financing companies that's uncapped, and said
you can now do general solicitation.And so we've seen a huge surge in
the number of five of six Cofferings because now people really want to put
(10:33):
these offerings up on the Internet anddo general solicitation and raise capital in a
way that opens it up to abroader audience that they couldn't reach before.
But the difference between a five Osix C reg A and a reg CF
offering is the digital footprint. Nowyou can do a five oh six C
and do general solicitation, but itdoesn't have to happen on an online investment
(10:56):
platform. It doesn't necessarily have tohappen through a broker dealer. You just
need to confirm that the investors arein fact accredited. A reggae offering typically
takes place through a broker dealer,but that might not be happening online.
It just might be through that brokerdealer's network and how they're doing the solicitation
(11:16):
right. CF, on the otherhand, is a full online digital footprint.
Everything that's happening with it is happeningonline, and that's why we can
capture all this information, and that'swhy we've seen you know, eighty five
hundred of these offerings take place onlineall across the United States. It's been
over fifty you know, it's happenedin all fifty states. I think there's
(11:37):
been fourteen hundred cities where these offeringsare taking place. And like you said,
you know, we've had about twoand a half billion dollars now be
pumped into these companies. I'll tellyou the key difference that's happening right now
then even two years ago is theparallel offering. So when the industry first
got started, you had strictly REGCFoffers and you could only raise up to
(12:01):
one million dollars until twenty twenty oneor two when the SEC movement that up
to five million dollars that issues couldraise, and so it changed the type
of issuers coming to the marketplace.But now we're seeing these parallel offerings where
people are like, well, Iwant to raise ten million dollars, and
so they're doing a side by sidewhere one of it's a REGCF offering and
they're raising up to the five milliondollar max there, but the other side
(12:24):
of five oh six c offering whereyou can raise you know, an unlimited
amount from those accredit investors. Andwe're so we're seeing these larger and more
sophisticated, older, much more revenuegenerating companies coming in raising a lot more
money through this. And you know, that's sort of what's tipping the needle
in the past couple of years interms of the amount of capital that's being
(12:46):
raised. So, Woodie, whatwhat does your data show as the industries
or the companies that are using routefunding regardless of what platform they're using,
Reggae, reg cf what, youknow, whatever it is, which is
(13:09):
what would you Yeah, you know, that's a great question. And I
hear that a lot. You know, who is this applicablefore and so because
we track the industry, is wetrack both nakes code which is like used
by Bloomberg and all that stuff,but we also roll everything up into our
own little thirty one different sort ofindustry sub sectors. When you look at
(13:33):
the data from that sub sector pointof view, what we see is software
and technology is the number one.So the most offerings, the most capital
that's raised is in this. Andyou know, when we were lobbying for
this in Washington, d C.Honestly, that's what we thought. We
thought this is there's two groups thatare really going to benefit from this.
You know, your your high techSilicon Valley s type companies that do not
(13:58):
reside in or near Silicon Valley orNew York City. So the brain trust
of all these great ideas coming outof universities or people that just live in
like here I am in Denver,or actually where you are, Vicky in
Las Vegas. Las Vegas is alwaysnumber one on our genome startup for the
crowdfunding ecosystem, so you know,but that's not necessarily vc intensive territory,
(14:22):
so we thought it would be reallygood for them. And on the other
side, we're like, this isgonna be great for all these main street
type of businesses that are cash flowingbut can't qualify for a bank because maybe
they're less than three years old.But what we've seen since then is something
that's completely different. There's been overfive hundred and forty nakes CODE that have
(14:43):
been funded. So it doesn't matterwhat industry you're in. If you've got
a great idea with a great team, you've probably built a business before you've
got successful a track record and you'vegot an engaged audience, be it customers,
fans, friends, family, Thisis a great way for you to
extend that branch of trust that you'vebuilt on your own in terms of getting
(15:05):
your company off the ground and saying, you know what, I really need
the voice of the crowd now,I really need my network of friends to
come in and invest in the business, which provide me capital, but do
something much more than the capital,which is help me get a message out
there to a broader audience, helpme get sales coming in because you have
(15:26):
a network that can amplify my messaging. And that's this interim stage that we
see with investment crowdfunding, which Ididn't realize was going to come out of
the data at all, but itclearly is a stepping stone now to venture
capital, and so we're seeing thatwithin the data set. But to your
point, you know, it's notjust software and technology. You would be
shocked at the amount of electric vehiclecompanies that use crowdfunding as a mechanism to
(15:52):
raise money, healthcare, biotech.I mean, we have a monthly report
that does a deep dive into whathappened in crowdfunding each month, and then
we do an industry breakout. Sowe've covered software and technology, and you've
covered AI and blockchain, in regulation, crowdfunding. You know, our last
month was just debt offerings, like, let's uncover what's happening in the P
(16:15):
two B you know, debt crowdfundingspace, so we can see what's happening
there. So you know, itdoesn't matter what industry, and you know,
it's happening all over the place.And I think that's an exciting byproduct
of this, you know, That'sthe thing I like so much about crowdfunding
is the ability to go down toyour customers and let your customers or as
(16:38):
you said, your friends and familyand that buy into your brand, buy
into your company, and feel partof the process, you know, and
be able to have that pride insaying yes, I've invested in this,
and tell your friends and bring themin, and it's like becomes cyclical with
(17:00):
the people that you can use asyour investors without having to go to you
don't need to raise the seventy fivemillion if you're not at that level,
but bring everybody in and use themto brand your company. That's like,
I think that's one of the betterconcepts of crowdfunding, merging it with blockchain
and being able to tokenize too,that's great. It allows everybody to participate.
(17:26):
Yeah, yeah, I completely agree, one hundred percent. And you
know what the benefit about this aswell is these investors that are banking on
people that they know, so theyalready you know, believe in the individuals,
mainly because I believe that, youknow, the majority of the investors
in this have a first or seconddegree relationship to either the entrepreneur or the
(17:48):
business. But they're getting in atthe earliest stage of growth that's craze.
That's also the lowest valuation point.So yeah, not all these companies are
going to be successful. I thinkthey stand a better chance. And actually,
if you look at the data that'scoming out of there, I think
we've seen a two hundred and eightyseven percent revenue growth in the year after
a company does a crowdfunding raise thanthe year in which they did their initial
(18:12):
raise. So clearly that crowd isable to bring people in. But if
you allow them to become investors inthere and they do succeed, these people
are potentially going to be millionaires,you know, and the great success stories
about that, Yeah, yeah,And that that's that's what makes it special.
I like that part. Yeah,why what do you have a lot
(18:36):
better information than that? Way you'llget at the craps table here in Las
Vegas. If you a millionaire,that's for sure. So but going back
to what you said before on yourreports that you send out these reports that
are tailored towards investors them, isthat is that the case that you're kind
of looking at and investor may lookat this and say, oh, look
at this, there's growth here inthe medical or real estate, et cetera,
(18:57):
Maybe I should look into this company. Is that the goal of the
the reports? Yeah, exactly.So we you know, we had all
this data and we were sitting onit and people were like, Wow,
this state is fascinating. And thensomeone said to us, you need to
make a products out of this data. And they're like, oh, and
so we started with a weekly tearsheet that just shows changes in you know,
(19:18):
investments, number of deals, platformactivity. Uh. And then we
expanded that to a bi weekly reportthat shows you know, how trends are
happening on a bi weekly basis,comparing that to a monthly, quarterly,
annual basis. So people that sortof follow the industry and want to see
what's happening, where things are hot, where things might be cooling down.
(19:38):
Then we did the monthly report,which is really where we started thinking,
well, investors want to see whatthe top deals are. Investors want to
see which platforms have the most activity. Investors want to you know, want
to see which industries are you know, are are getting a lot of capital
or where in the country. Andso that's where we came up with two
(19:59):
other problem. So we have thismonthly report, which which I was telling
you is our sort of industry deepdive, and so you get to see
the hottest deals for the months thatare just across all industries, and then
within a specific sector itself, weshow you the top fifteen deals in that
sector. So for you know,venture capital, angel investors, anyone that's
looking for deal flow, I mean, you can just hone in right on
(20:22):
that. The other thing that wehave is we took all this data and
three years ago we sat down withthree PhDs and we said, you know,
I said, listen, you know, I've got this crystal ball.
I feel like I can see companiesthat are going to go on to do
great things out of this crystal ball. I personally had an exit, so
I know what it takes to start, scale, grow, and exit a
(20:42):
company. I want to build analgorithm off of the data that looks for
signals within the data set of companiesthat are likely to go on for a
follow on round of financing, notcompanies that will exit, because who can
predict that. But let's see ifwe can look for signals of companies that
have already gone on for following aroundsof financing compared to companies that are coming
(21:02):
in and be like, we needto we need to follow this company.
So we built that algorithm, andthen we actually launched a venture fund called
D three VC that investing companies offof that algorithm. But using a similar
algorithm, we now provide investors alist of companies that's rank high on that
sort of scoring of companies that arelikely to go on for a following around
(21:26):
of financing or you know, dogreater things. So you know, investors
that want to see, you know, where should I You know, when
there's eighty five hundred companies, youhave no clue where to begin even at
right now, when there's you know, over six hundred on a monthly basis,
where do you even start? Thisreally allows you to hone in on
this is where I want to focusmy attention something for one reason or another,
(21:48):
raise this company high on the scoringof the algorithm. So it's maybe
where I want to start my diligence. We're not telling you to invest in
it, but we're saying that,you know, these are companies worth looking
at. Yeah, that's a greatidea. The the fun thing, especially
since you're running it and you kindof are using your own data to do
that. You're what you're saying isthat an investor who may just want to
say, Okay, these guys know, there's what they're doing. They're they're
(22:11):
doing all the data. I shouldlook into this and I want to invest
in their fund because I don't wantto do the work. You know what
he's done the work for me basically, Right, you have to be a
credit investor for that, For theventure fund, you have to be a
credit investor for the capital pull support. Anyone can have access to that.
Yeah, excellent, Well what hehas a crowdfunding? Uh? I mean
(22:34):
it started under the Jobs Act inthat but is it still more of a
national concept or has it become aglobal idea or global concept that companies around
the world can use. Uh,you know, it is a global concept.
I am. I just finished thefirst draft of my manuscript for a
(22:56):
book that I'm calling crowd Phonomics,which is really the economics of crowdfunding.
And in that book, I diginto what crowdfunding is from a global perspective,
because this is happening in countries allacross the United States, I mean
all across the world. One ofthe coolest things, after, you know,
(23:17):
the President signed the billains of Law, is the phone calls we received.
We got a phone call from Wiley, the book publisher, and saying,
hey, you guys wrote the law, write the dummies books. So
we wrote the Dummies Guide to InvestmentCrowdfunding. Then the other group that called
us was the World Bank, andthey said, this is phenomenal what you
guys did for entrepreneurs in the UnitedStates, but this is really needed by
entrepreneurs in the developing world. Sowe wrote the World Bank Report Crowdfunding's Potential
(23:42):
for the Developing World. And thenthe State Department also hired us and said,
you guys can help promote diplomacy andget people off the streets and hating
the United States if we can getthem to create businesses that will create jobs.
And they were focused on growing businessesrather than a reason not to like
the US. So, between theState Department the World Bank, they sent
(24:04):
us to forty three countries around theworld to help my god ecosystem and it's
been amazing. And like we proppedup the crowdfunding eCos system in Chile,
we worked in Mexico. Believe itor not. We spent a year going
back and forth to Saudi Arabia,got the entire crowdfunding ecosystem up and running
there. We've but you know,on the same hand, we worked in
(24:26):
Israel, you know, so weworked everywhere in the world where people were
interested in how did they leverage thiswithin the confines of their own culture and
society, you know, the culturalnorms, because it's very different from the
US, and you have to takethat into consideration. But you know,
this is happening in countries all aroundthe world, in Africa and you know,
(24:48):
just everywhere right making the world abetter place. I love it.
Yeah, okay, this is great. Well let's uh, let's let's tell
the audience how to get involved inthis. If they want more information or
if they want to talk about yourfunds. Uh, you know what,
that's the best way for somebody tocontact you or get involved. There's three
(25:12):
areas, so crowdfund Capital Advisor Advisorssort of sits at the intersection of what
we say are three themes. Thedata is one of those themes, and
it's the underlying thing for what everythingthat we do. And so from the
data, that's our our product linecalled c clears C C L e A
R. So if people want anyof those reports that we were just talking
(25:34):
about, they could go to shopdot C clear c C L e a
R dot a I and that'll takeyou to all of the reports that we
have there that people can subscribe to. The of course, you know,
the data is the underlying part ofthe venture fund that venture funds called D
three v C and the website forthat is D three v C dot A
(25:56):
I. So if people want toget information about the venture fund that they
can learn about it there. Andthen the third one that we didn't talk
about is liquidity. So you know, people invest in all these private companies,
but they don't want to be stuckin it until there's an exit.
A sl a merger and I pO. So we created a fintech company
called Guard, and Guard facilitates theliquidity of investors from private company investments by
(26:22):
helping the companies that they invested indo ongoing disclosures to comply with state by
state securities laws that govern the secondarytrading of securities such that these investments can
be traded on alternative trading systems.So Guard g U A R A d
D dot com is for people thatare really interested in the liquidity side of
(26:44):
it, interested in secondary trading andthe compliance that you have to have with
Bosky for that. But Crowdfundcapital Advisorsdot com is the one that was on
top of all that. Wow,they have a lot of So what are
you mentioned in that the magical wordAI? Right now? How is AI
(27:07):
going to affect this whole cross fundingthing? Right? Everybody's talking about AI?
This AI that What are you thinking? I mean, that's essentially what
the concept of the venture fund was. We you know, we had a
couple of things going for us rightnow is you've got you got a bunch
of data, but now you've gotmachine learning, you've got artificial intelligence,
where you've got you've got the abilityto create algorithms or to help people hone
(27:34):
in on opportunities. And that wasone side of it. The other side
of it is institutional capital that ismissing from this marketplace. Now, if
you saw what happened in the peerto peer lending space that you know,
a decade ago, it popped onceinstitutional capital came in, which is it's
transformed the entire industry. It's avery different thing for institutional capital to invest
(27:59):
in the individual startup because they don'thave the bandwidth to do the diligence,
the sourcing what is required at thatgranular level. So what we were saying
is if we can merge the principlesof our data with AI and machine learning
and create this algorithm so that wecan do the vetting looking at the companies
(28:19):
and do the investing. Now we'vecreated a segue for institutional capital come into
the marketplace through larger subsequent funds thatwe put together. And I think that's
part of what the future is isleveraging the power of AI to allow institutional
money to come into the marketplace.That will really allow this ecosystem to really
(28:44):
take off. I mean, whenI talk about takeoff, I'm talking about
the economic stimulus that this is goingto have. Right now, there's about
six point eight billion dollars that thesecompanies are pumping into our economy on a
daily basis. And that's you know, just with eighty five hundred offerings.
You multiply that by ten and youcan see the economic impact that it's going
(29:07):
to have. There's seventy nine billiondollars of pent up economic value in these
companies. You get institutional capital inhere that's only going to increase that.
So the wealth that will be created, the amount of jobs that will be
created, the local economic stimulus thatwill happen, because these companies are not
in Silicon Valley and New York City, they're spread all across the United States
(29:30):
States is going to have a majorimpact. And that's where that AI is
going to really play a role.Awesome, You know that's really only thing
that's data driven. Is okay byme? I think this whole thing is
fascinating or victory. Do you haveany last questions or thoughts for what before?
As I said, we were goingto have an exciting podcast, and
(29:52):
boy did we ever? You knowwhat he what you are doing and crowd
funding capital advisors. What you're doingencompasses everything that I think is special in
the world. The data that you'recollecting provides entrepreneurs and business leaders to have
(30:15):
more information. The more information youhave, the better decisions that you can
make. And the better decisions youmake are what changed the world into a
better place. And all of thatis what I really really love and allowing
everybody to be able to partake init. I think that people are listeners
(30:37):
today absolutely need to contact you forthe data so that they can understand how
to make a better decision, sothat they can understand how to plan for
the future, for future growth oroffshoots of whatever it is they're doing.
And all of this is to changethe world and make it a at their
(31:00):
place. As you said, it'sbecome a worldwide concept and it's helping people.
It's providing jobs, it's providing aneconomy, it's increasing the value of
people's lives, and that is changingthe world. And oh my god,
kudos to you, Woodie for creatingsuch a fabulous product for everybody to use.
(31:22):
I congratulate you well. I'm humblythankful, so thank you. Actually,
I think you should bring Vicky alaungtto your next conference. Okay,
I'm up for it. I wouldlove it. You can open any tell
you what that was. That wasvery very kind of you. I appreciate
(31:45):
that. It's an absolute truth.Thank you Woody so much for taking the
time out being a guest on theshow today. Disney, thanks for co
hosting this, and folks you listeningto the Notable USA podcast at USA dot
com. If you go there,you scroll down our homepages all our syndication
sources, pick the one you likebest, subscribe. You'll never miss another
one of our episodes. We're goingto be a guest from the show,
(32:06):
like like, what do you wastoday? The guests had there filled that
out. We'll see what you cando about getting on in the show.
And if you like what you heardtoday, send us an email at info
at USA dot com or just leavea message over the page. You listen
to this song right now. Sothank you listening, Thanks you supporting Brook,
Yes you next time. Not theUSA podcam not a great use. Everyone
Not the USA podcast where we putyou on anthesis. Rom Costa broadcasting live
from the Mappable USA Studios here inLas Vegas, and folks, hey,
we're gonna talk about crowdfunding. I'mgonna go right for the horses now,
so man of the people actually wrotethe laws almost. So before we do
that, let's introduce Vicky hutch Malafrom the World Talking Market. VICKI,
(00:44):
how are you doing today? Fabulousday in Vegas, run like every day.
I'm doing great and looking forward toThis is going to be an exciting
podcast with our guests because we're goingto take crowdfunding from a different point of
view in the statistical data interpretation ofhow people and companies are using crowdfunding.
(01:07):
So I think that's going to befun, exciting and let's get started all
right. Well, you know Ilove my baseball and advanced analytics, so
let's just bring us the crowdfunding now. So well as we do that,
let's introduce what are you? Whatis the partner over at crowdfund Capital Advisors?
What are you? How you doingtoday? I am great, Ron,
Vicky. It is exciting to behere with you today. Glad,
(01:32):
thank you. We'll have you onboard for the for the podcast, and
uh, I know we've been talkingto you for a while. I see
all your your posts online and it'salways really interesting stuff. And and uh,
you know, like we said beforewe started the podcast, we're always
talking about companies and marketing and strategiesand this, and now we're going to
kind of get into it from anumbers perspective and and and you know who
better than you for that. Butbefore we do that, let's, uh,
(01:53):
let's tell the audience a little bitabout your background and you know how
you got to where you are rightnow? Sure, thanks from so.
I started my career on Wall Streeton the trading floor for UBS, which
is now pain Weber. I switchedover to the retail side and moved out
to California. Left that and wentto work for a Silicon Valley startup that
(02:14):
was acquired by Oracle, but learneda lot about Sandhill Road and how startups,
high growth ones are funded through venturecapital and used that to scale.
I left that and started my ownhealthcare technology company with my brother in law
in Washington, d C. Calledflavor r Ex. We favored medicines for
children, so the more compliant wewere a three time eight five hundred company.
(02:38):
We won EYS Entrepreneur of the Yearaward, and we grew that from
one pharmacy of forty thousand. Wesold back to a private equity group.
So I really got a feel forstarting, scaling, funding, and exiting
a business. When I edited that, I was frustrated about the fact that
I could only raise money from accreditedinvestors. I learned that when I was
(03:00):
running flavor X, and so Isat down with three friends of mine and
I said, you know, we'reall successful entrepreneurs. We all use venture
capital. We all know that theyuse reg D for these exemptions under which
you know, we raised capital.What ends. We merged the principles of
Kiva and Kickstarter, which is donationand sort of you know, rewards type
(03:21):
crowdfunding or you know, a debtreally on the Kiva side with you know,
this social network that we're seeing andsort of early stage venture capital.
And so we sat down and wrotean eight bullet point framework on for what
you know, regulation crowdfunding might looklike. I was in you know,
Washington, d C. I shoppedat around to the people on the hill
(03:42):
that I knew and was able toget some traction hearing was called the White
House had someone listening at that hearing. They reached out subsequent to that,
and the bill really started took form, then went to the House, passed
the House, we went over theSenate. We testified, believe it or
not, five times in front ofHouse and Senate panel hearings. So it
(04:04):
was very hollywood esque in how thathappened. And in four hundred and sixty
days, guys, we we wentfrom idea to sitting in the rose Garden
of the White Houses. President Obamasigned our bill into law. Of course,
yeah, I got that. Yeah, that's amazing how a non politician
actually gets things done right right,And and you know what that was,
(04:29):
That was the joke because he said, no, never in the history of
you know, at least in hisyou know, presidency, has something ever
happened so quickly and by people thatwere not involved in politics, because we
were entrepreneurs and literally when we walkin the halls of Congress, people are
like, well, what lobbying firmare you with? What law firm are
(04:49):
you with? We're like, we'renot, We're just entrepreneurs, and they're
like wait really, So it wasthat was one of the lessons. You
just need to show up and Washington, d C. And tell people why
you're there and what you want,because you know, it's just an insular
circle there, and people from theoutside don't really come in. Yeah,
(05:11):
exactly. And plus they have noconcept of how business works or how money
works, or you know, theylike you said, they're insular and they
just don't know what is surprise toget somebody who knew what they were talking
about and make something happen that wasfabulous. Yeah, I mean you would
have been surprised. You know.We sat in the offices of representatives and
(05:33):
senators, particularly the ones that werekey in crafting legislation until eleven pm some
nights, where we were you know, going back and forth and debating the
pros and cons of certain aspects ofthe bill and being like, listen,
you know, if we want todo this, how do we protect investors?
And so like, I know allof the inside story of the sausage.
I mean remember talking with Andy Greenand Senator Murcley's office where it's this
(05:57):
like, you know, are thesesecurities freely transferred? And I was like,
well, you know, investors doone out. I don't understand why
you need to lock them up.And he's like, yeah, but what
about pumping and dumping? And Iwas like, okay, so if we
want to cut out pumping and dumping, let's just put a twelve month holding
period on the securities. And that'swhere the twelve myth p hoping period came
from. Everyone's just like, youknow, where did the sec come up
with it? I was like,they didn't. Roberts sitting in the office
with Andy Green and we put thatin the bill. Yeah, oh fabulous.
(06:23):
Well, you know you mentioned earlierabout companies like Kickstarter, et cetera,
when crowdfunding just came out, andnow all of a sudden, we
had this advanced version of equity crowdfunding. It started off slow, like olopings
do for the most part, butit's been exploding recently and now it's it's
what a two point five billion dollarindustry or whatever that is. You know,
how did that happen? Yeah,that's a great point. So when
(06:46):
we were leaving the White House carryingKerrigan, who was our chief advocate.
She runs a small business and entrepreneurshipcouncil in Washington, d C. And
she really was the one that connectedus with all the key players in the
Senate Banking Committee and House Financial ServicesCommittee. She said to me, she's
like, you know, what dohe I just want to, you know,
cap your expectations this. No one'sgoing to know what you guys have
(07:10):
done for five years. And Iwas like what, and she's like,
yeah, it's I equate this themedical savings accounts. You know, we
passed it. It was five yearsbefore anyone started using them, and ten
years later everybody had one. Shegoes, so I would give it at
least five years before people really startunderstanding what it is, and another five
years until everybody really accepts it.And that's what we've seen in the data.
(07:30):
So you know, like I toldyou, I started in on Wall
Street and wants Silicon Valley. InSilicon Valley, I worked for a database
company, so I took that experienceof creating databases and I created the database
for the industry that aggregates information onevery single company that's raising money online.
So we collect information on one hundredand twenty five data points in every company,
(07:54):
from what they do, where they'relocated, the industry that they're in,
their evaluation over time, all theirfinancial information, but we layer on
top of that something that no oneelse has, which is not even pitchbook
or crunch base, and that's whatwe call an investors sentiment. And the
beauty about these deals that are happeningthrough regulation, crowdfunding and are happening online
(08:15):
is the digital footprint that comes alongwith it. And so if you're tracking
these offerings like we do every day, you get to see where investors are
deploying checks and how much they're deployinginto active offerings. And right now there's
about six hundred active offerings on adaily basis that are taking place. Of
course, in the industry launched throughtwenty so it's grown dramatically, and we've
(08:39):
seen how even during COVID, thisreally stepped in and helped provide the financing
for a lot of these businesses thatcouldn't find capital elsewhere. Oh wow.
Well, and you know, froman equity crowdfunding perspective, but you have
different you have the reggae the regCF. Are these data points kind of
(09:05):
uh, you know, does it? Does it? Does it take that
into consideration that there's two different things. Yeah, yeah, that's a great
question. So you've got when theJob Act was passed through three parts of
that that really transform the private capitalmarkets. To your point you just mentioned
Reggae, and that allows companies toraise you know, up to seventy five
(09:26):
million dollars online from both retail andcredit investors. But it's a qualified offering,
meaning that you have to go throughthe SEC. They have to review
all the documents and once they're satisfiedthat you have enough disclosures in there for
investors, do they qualify it,which is that's that's just something you have
everything in there that's necessary. They'renot actually giving it, as you know,
a signature of approval saying investors shouldinvest in this. But you know
(09:50):
that that process, that qualification processis very burdensome, costly. You need
a lot of lawyers, you needaccountants, and it takes time and so
it's you know, it's about onehundred I would say one hundred to one
hundred and fifty thousand dollars to getone of those done. So it's a
very different type company that uses it. Five oh six C was the other
(10:11):
one in the jobs outside of regulation, crowdfunding that really transformed the private capital
markets. And five oh six Ctook what was already there for five or
six B, which is a creditinvestor financing companies that's uncapped, and said
you can now do general solicitation.And so we've seen a huge surge in
the number of five of six Cofferings because now people really want to put
(10:33):
these offerings up on the Internet anddo general solicitation and raise capital in a
way that opens it up to abroader audience that they couldn't reach before.
But the difference between a five Osix C reg A and a reg CF
offering is the digital footprint. Nowyou can do a five oh six C
and do general solicitation, but itdoesn't have to happen on an online investment
(10:56):
platform. It doesn't necessarily have tohappen through a broker dealer. You just
need to confirm that the investors arein fact accredited. A reggae offering typically
takes place through a broker dealer,but that might not be happening online.
It just might be through that brokerdealer's network and how they're doing the solicitation
(11:16):
right. CF, on the otherhand, is a full online digital footprint.
Everything that's happening with it is happeningonline, and that's why we can
capture all this information, and that'swhy we've seen you know, eighty five
hundred of these offerings take place onlineall across the United States. It's been
over fifty you know, it's happenedin all fifty states. I think there's
(11:37):
been fourteen hundred cities where these offeringsare taking place. And like you said,
you know, we've had about twoand a half billion dollars now be
pumped into these companies. I'll tellyou the key difference that's happening right now
then even two years ago is theparallel offering. So when the industry first
got started, you had strictly REGCFoffers and you could only raise up to
(12:01):
one million dollars until twenty twenty oneor two when the SEC movement that up
to five million dollars that issues couldraise, and so it changed the type
of issuers coming to the marketplace.But now we're seeing these parallel offerings where
people are like, well, Iwant to raise ten million dollars, and
so they're doing a side by sidewhere one of it's a REGCF offering and
they're raising up to the five milliondollar max there, but the other side
(12:24):
of five oh six c offering whereyou can raise you know, an unlimited
amount from those accredit investors. Andwe're so we're seeing these larger and more
sophisticated, older, much more revenuegenerating companies coming in raising a lot more
money through this. And you know, that's sort of what's tipping the needle
in the past couple of years interms of the amount of capital that's being
(12:46):
raised. So, Woodie, whatwhat does your data show as the industries
or the companies that are using routefunding regardless of what platform they're using,
Reggae, reg cf what, youknow, whatever it is, which is
(13:09):
what would you Yeah, you know, that's a great question. And I
hear that a lot. You know, who is this applicablefore and so because
we track the industry, is wetrack both nakes code which is like used
by Bloomberg and all that stuff,but we also roll everything up into our
own little thirty one different sort ofindustry sub sectors. When you look at
(13:33):
the data from that sub sector pointof view, what we see is software
and technology is the number one.So the most offerings, the most capital
that's raised is in this. Andyou know, when we were lobbying for
this in Washington, d C.Honestly, that's what we thought. We
thought this is there's two groups thatare really going to benefit from this.
You know, your your high techSilicon Valley s type companies that do not
(13:58):
reside in or near Silicon Valley orNew York City. So the brain trust
of all these great ideas coming outof universities or people that just live in
like here I am in Denver,or actually where you are, Vicky in
Las Vegas. Las Vegas is alwaysnumber one on our genome startup for the
crowdfunding ecosystem, so you know,but that's not necessarily vc intensive territory,
(14:22):
so we thought it would be reallygood for them. And on the other
side, we're like, this isgonna be great for all these main street
type of businesses that are cash flowingbut can't qualify for a bank because maybe
they're less than three years old.But what we've seen since then is something
that's completely different. There's been overfive hundred and forty nakes CODE that have
(14:43):
been funded. So it doesn't matterwhat industry you're in. If you've got
a great idea with a great team, you've probably built a business before you've
got successful a track record and you'vegot an engaged audience, be it customers,
fans, friends, family, Thisis a great way for you to
extend that branch of trust that you'vebuilt on your own in terms of getting
(15:05):
your company off the ground and saying, you know what, I really need
the voice of the crowd now,I really need my network of friends to
come in and invest in the business, which provide me capital, but do
something much more than the capital,which is help me get a message out
there to a broader audience, helpme get sales coming in because you have
(15:26):
a network that can amplify my messaging. And that's this interim stage that we
see with investment crowdfunding, which Ididn't realize was going to come out of
the data at all, but itclearly is a stepping stone now to venture
capital, and so we're seeing thatwithin the data set. But to your
point, you know, it's notjust software and technology. You would be
shocked at the amount of electric vehiclecompanies that use crowdfunding as a mechanism to
(15:52):
raise money, healthcare, biotech.I mean, we have a monthly report
that does a deep dive into whathappened in crowdfunding each month, and then
we do an industry breakout. Sowe've covered software and technology, and you've
covered AI and blockchain, in regulation, crowdfunding. You know, our last
month was just debt offerings, like, let's uncover what's happening in the P
(16:15):
two B you know, debt crowdfundingspace, so we can see what's happening
there. So you know, itdoesn't matter what industry, and you know,
it's happening all over the place.And I think that's an exciting byproduct
of this, you know, That'sthe thing I like so much about crowdfunding
is the ability to go down toyour customers and let your customers or as
(16:38):
you said, your friends and familyand that buy into your brand, buy
into your company, and feel partof the process, you know, and
be able to have that pride insaying yes, I've invested in this,
and tell your friends and bring themin, and it's like becomes cyclical with
(17:00):
the people that you can use asyour investors without having to go to you
don't need to raise the seventy fivemillion if you're not at that level,
but bring everybody in and use themto brand your company. That's like,
I think that's one of the betterconcepts of crowdfunding, merging it with blockchain
and being able to tokenize too,that's great. It allows everybody to participate.
(17:26):
Yeah, yeah, I completely agree, one hundred percent. And you
know what the benefit about this aswell is these investors that are banking on
people that they know, so theyalready you know, believe in the individuals,
mainly because I believe that, youknow, the majority of the investors
in this have a first or seconddegree relationship to either the entrepreneur or the
(17:48):
business. But they're getting in atthe earliest stage of growth that's craze.
That's also the lowest valuation point.So yeah, not all these companies are
going to be successful. I thinkthey stand a better chance. And actually,
if you look at the data that'scoming out of there, I think
we've seen a two hundred and eightyseven percent revenue growth in the year after
a company does a crowdfunding raise thanthe year in which they did their initial
(18:12):
raise. So clearly that crowd isable to bring people in. But if
you allow them to become investors inthere and they do succeed, these people
are potentially going to be millionaires,you know, and the great success stories
about that, Yeah, yeah,And that that's that's what makes it special.
I like that part. Yeah,why what do you have a lot
(18:36):
better information than that? Way you'llget at the craps table here in Las
Vegas. If you a millionaire,that's for sure. So but going back
to what you said before on yourreports that you send out these reports that
are tailored towards investors them, isthat is that the case that you're kind
of looking at and investor may lookat this and say, oh, look
at this, there's growth here inthe medical or real estate, et cetera,
(18:57):
Maybe I should look into this company. Is that the goal of the
the reports? Yeah, exactly.So we you know, we had all
this data and we were sitting onit and people were like, Wow,
this state is fascinating. And thensomeone said to us, you need to
make a products out of this data. And they're like, oh, and
so we started with a weekly tearsheet that just shows changes in you know,
(19:18):
investments, number of deals, platformactivity. Uh. And then we
expanded that to a bi weekly reportthat shows you know, how trends are
happening on a bi weekly basis,comparing that to a monthly, quarterly,
annual basis. So people that sortof follow the industry and want to see
what's happening, where things are hot, where things might be cooling down.
(19:38):
Then we did the monthly report,which is really where we started thinking,
well, investors want to see whatthe top deals are. Investors want to
see which platforms have the most activity. Investors want to you know, want
to see which industries are you know, are are getting a lot of capital
or where in the country. Andso that's where we came up with two
(19:59):
other problem. So we have thismonthly report, which which I was telling
you is our sort of industry deepdive, and so you get to see
the hottest deals for the months thatare just across all industries, and then
within a specific sector itself, weshow you the top fifteen deals in that
sector. So for you know,venture capital, angel investors, anyone that's
looking for deal flow, I mean, you can just hone in right on
(20:22):
that. The other thing that wehave is we took all this data and
three years ago we sat down withthree PhDs and we said, you know,
I said, listen, you know, I've got this crystal ball.
I feel like I can see companiesthat are going to go on to do
great things out of this crystal ball. I personally had an exit, so
I know what it takes to start, scale, grow, and exit a
(20:42):
company. I want to build analgorithm off of the data that looks for
signals within the data set of companiesthat are likely to go on for a
follow on round of financing, notcompanies that will exit, because who can
predict that. But let's see ifwe can look for signals of companies that
have already gone on for following aroundsof financing compared to companies that are coming
(21:02):
in and be like, we needto we need to follow this company.
So we built that algorithm, andthen we actually launched a venture fund called
D three VC that investing companies offof that algorithm. But using a similar
algorithm, we now provide investors alist of companies that's rank high on that
sort of scoring of companies that arelikely to go on for a following around
(21:26):
of financing or you know, dogreater things. So you know, investors
that want to see, you know, where should I You know, when
there's eighty five hundred companies, youhave no clue where to begin even at
right now, when there's you know, over six hundred on a monthly basis,
where do you even start? Thisreally allows you to hone in on
this is where I want to focusmy attention something for one reason or another,
(21:48):
raise this company high on the scoringof the algorithm. So it's maybe
where I want to start my diligence. We're not telling you to invest in
it, but we're saying that,you know, these are companies worth looking
at. Yeah, that's a greatidea. The the fun thing, especially
since you're running it and you kindof are using your own data to do
that. You're what you're saying isthat an investor who may just want to
say, Okay, these guys know, there's what they're doing. They're they're
(22:11):
doing all the data. I shouldlook into this and I want to invest
in their fund because I don't wantto do the work. You know what
he's done the work for me basically, Right, you have to be a
credit investor for that, For theventure fund, you have to be a
credit investor for the capital pull support. Anyone can have access to that.
Yeah, excellent, Well what hehas a crowdfunding? Uh? I mean
(22:34):
it started under the Jobs Act inthat but is it still more of a
national concept or has it become aglobal idea or global concept that companies around
the world can use. Uh,you know, it is a global concept.
I am. I just finished thefirst draft of my manuscript for a
(22:56):
book that I'm calling crowd Phonomics,which is really the economics of crowdfunding.
And in that book, I diginto what crowdfunding is from a global perspective,
because this is happening in countries allacross the United States, I mean
all across the world. One ofthe coolest things, after, you know,
(23:17):
the President signed the billains of Law, is the phone calls we received.
We got a phone call from Wiley, the book publisher, and saying,
hey, you guys wrote the law, write the dummies books. So
we wrote the Dummies Guide to InvestmentCrowdfunding. Then the other group that called
us was the World Bank, andthey said, this is phenomenal what you
guys did for entrepreneurs in the UnitedStates, but this is really needed by
entrepreneurs in the developing world. Sowe wrote the World Bank Report Crowdfunding's Potential
(23:42):
for the Developing World. And thenthe State Department also hired us and said,
you guys can help promote diplomacy andget people off the streets and hating
the United States if we can getthem to create businesses that will create jobs.
And they were focused on growing businessesrather than a reason not to like
the US. So, between theState Department the World Bank, they sent
(24:04):
us to forty three countries around theworld to help my god ecosystem and it's
been amazing. And like we proppedup the crowdfunding eCos system in Chile,
we worked in Mexico. Believe itor not. We spent a year going
back and forth to Saudi Arabia,got the entire crowdfunding ecosystem up and running
there. We've but you know,on the same hand, we worked in
(24:26):
Israel, you know, so weworked everywhere in the world where people were
interested in how did they leverage thiswithin the confines of their own culture and
society, you know, the culturalnorms, because it's very different from the
US, and you have to takethat into consideration. But you know,
this is happening in countries all aroundthe world, in Africa and you know,
(24:48):
just everywhere right making the world abetter place. I love it.
Yeah, okay, this is great. Well let's uh, let's let's tell
the audience how to get involved inthis. If they want more information or
if they want to talk about yourfunds. Uh, you know what,
that's the best way for somebody tocontact you or get involved. There's three
(25:12):
areas, so crowdfund Capital Advisor Advisorssort of sits at the intersection of what
we say are three themes. Thedata is one of those themes, and
it's the underlying thing for what everythingthat we do. And so from the
data, that's our our product linecalled c clears C C L e A
R. So if people want anyof those reports that we were just talking
(25:34):
about, they could go to shopdot C clear c C L e a
R dot a I and that'll takeyou to all of the reports that we
have there that people can subscribe to. The of course, you know,
the data is the underlying part ofthe venture fund that venture funds called D
three v C and the website forthat is D three v C dot A
(25:56):
I. So if people want toget information about the venture fund that they
can learn about it there. Andthen the third one that we didn't talk
about is liquidity. So you know, people invest in all these private companies,
but they don't want to be stuckin it until there's an exit.
A sl a merger and I pO. So we created a fintech company
called Guard, and Guard facilitates theliquidity of investors from private company investments by
(26:22):
helping the companies that they invested indo ongoing disclosures to comply with state by
state securities laws that govern the secondarytrading of securities such that these investments can
be traded on alternative trading systems.So Guard g U A R A d
D dot com is for people thatare really interested in the liquidity side of
(26:44):
it, interested in secondary trading andthe compliance that you have to have with
Bosky for that. But Crowdfundcapital Advisorsdot com is the one that was on
top of all that. Wow,they have a lot of So what are
you mentioned in that the magical wordAI? Right now? How is AI
(27:07):
going to affect this whole cross fundingthing? Right? Everybody's talking about AI?
This AI that What are you thinking? I mean, that's essentially what
the concept of the venture fund was. We you know, we had a
couple of things going for us rightnow is you've got you got a bunch
of data, but now you've gotmachine learning, you've got artificial intelligence,
where you've got you've got the abilityto create algorithms or to help people hone
(27:34):
in on opportunities. And that wasone side of it. The other side
of it is institutional capital that ismissing from this marketplace. Now, if
you saw what happened in the peerto peer lending space that you know,
a decade ago, it popped onceinstitutional capital came in, which is it's
transformed the entire industry. It's avery different thing for institutional capital to invest
(27:59):
in the individual startup because they don'thave the bandwidth to do the diligence,
the sourcing what is required at thatgranular level. So what we were saying
is if we can merge the principlesof our data with AI and machine learning
and create this algorithm so that wecan do the vetting looking at the companies
(28:19):
and do the investing. Now we'vecreated a segue for institutional capital come into
the marketplace through larger subsequent funds thatwe put together. And I think that's
part of what the future is isleveraging the power of AI to allow institutional
money to come into the marketplace.That will really allow this ecosystem to really
(28:44):
take off. I mean, whenI talk about takeoff, I'm talking about
the economic stimulus that this is goingto have. Right now, there's about
six point eight billion dollars that thesecompanies are pumping into our economy on a
daily basis. And that's you know, just with eighty five hundred offerings.
You multiply that by ten and youcan see the economic impact that it's going
(29:07):
to have. There's seventy nine billiondollars of pent up economic value in these
companies. You get institutional capital inhere that's only going to increase that.
So the wealth that will be created, the amount of jobs that will be
created, the local economic stimulus thatwill happen, because these companies are not
in Silicon Valley and New York City, they're spread all across the United States
(29:30):
States is going to have a majorimpact. And that's where that AI is
going to really play a role.Awesome, You know that's really only thing
that's data driven. Is okay byme? I think this whole thing is
fascinating or victory. Do you haveany last questions or thoughts for what before?
As I said, we were goingto have an exciting podcast, and
(29:52):
boy did we ever? You knowwhat he what you are doing and crowd
funding capital advisors. What you're doingencompasses everything that I think is special in
the world. The data that you'recollecting provides entrepreneurs and business leaders to have
(30:15):
more information. The more information youhave, the better decisions that you can
make. And the better decisions youmake are what changed the world into a
better place. And all of thatis what I really really love and allowing
everybody to be able to partake init. I think that people are listeners
(30:37):
today absolutely need to contact you forthe data so that they can understand how
to make a better decision, sothat they can understand how to plan for
the future, for future growth oroffshoots of whatever it is they're doing.
And all of this is to changethe world and make it a at their
(31:00):
place. As you said, it'sbecome a worldwide concept and it's helping people.
It's providing jobs, it's providing aneconomy, it's increasing the value of
people's lives, and that is changingthe world. And oh my god,
kudos to you, Woodie for creatingsuch a fabulous product for everybody to use.
(31:22):
I congratulate you well. I'm humblythankful, so thank you. Actually,
I think you should bring Vicky alaungtto your next conference. Okay,
I'm up for it. I wouldlove it. You can open any tell
you what that was. That wasvery very kind of you. I appreciate
(31:45):
that. It's an absolute truth.Thank you Woody so much for taking the
time out being a guest on theshow today. Disney, thanks for co
hosting this, and folks you listeningto the Notable USA podcast at USA dot
com. If you go there,you scroll down our homepages all our syndication
sources, pick the one you likebest, subscribe. You'll never miss another
one of our episodes. We're goingto be a guest from the show,
(32:06):
like like, what do you wastoday? The guests had there filled that
out. We'll see what you cando about getting on in the show.
And if you like what you heardtoday, send us an email at info
at USA dot com or just leavea message over the page. You listen
to this song right now. Sothank you listening, Thanks you supporting Brook,
Yes you next time. Not theUSA podcam not a great use. Everyone
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