#212 - How Kay Woo is Challenging Uber with Zero Commission Ride-Sharing and Blockchain

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Okay, you all listen. Hey, welcome to the
party that we just hit play

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on the podcast before we're even ready.

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I have a guest on and I'm like,

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how do I say your name? It's literally K A
Y,

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and he's got the best last name ever.

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If I can't pronounce woo, I have serious
issues.

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we'll we'll get into the intro later.

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But what we were just talking about is we
were just talking about wearing

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the same not the same exact shirt,

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but another exact version of that shirt.

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So you actually wash Why do you wear that
shirt?

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Every day.

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Wow. Well, this is actually a very good
question.

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But one thing for sure is as an
entrepreneur,

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every single day you have a lot of things
to make a decision,

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right? So you need to think through all
many different problems.

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But ~ you don't want to start your day to
think about what to wear,

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right? So that's why I just bought like
twenty of these black t shirts and then,

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you know, stack on all my closet and then
I just pick it and I just wear.

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And then that's how I start my day.

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Do you think the black when you put the
color black on when you pick that,

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do you identify with it? Like what about
the color?

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Does it matter? Was it intentional?

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What about it? 'Cause I do the same thing.

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~

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Well so well black is easy. So sometimes
you know you you need to do overwork,

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right? Like late late night, like one AM,

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three AM. Sometimes you need to stay up
all night,

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right? But if you wear black, maybe you
can wear it one more time next day.

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So black is next always convenient,

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you know?

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They won't they won't be able to tell if
it is another shirt,

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but they might be able to smell it.

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You all welcome to the podcast today.

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~

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Tell us about this ~ these late nights as
being an entrepreneur.

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You know, ~ I think society has worked
through the idea that being

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an entrepreneur is sexy and cool.

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I think we have now finally all accepted
it's really hard.

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No?

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It's really, really hard. It's not sexy at
all.

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Like what people see on the screen or
nudes,

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that's a success story, right?

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Like there are like tons of tons of
entrepreneurs on the on the New York

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and you know, your hometown and wherever.

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They're like living their lives really
hard.

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Like, look at me, like at this black t
shirts.

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Like, I'm wearing this every day.

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And then, like,

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This launch, I skipped the launch,

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and then this morning I just ate the
bagel.

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And, you know, you're like survival more.

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Like you need to survive to change
something.

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And then maybe after you change something,

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people start recognizing you. Then people
see you as a successful,

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you know, entrepreneur. But that's just
the one finite,

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you know, view that people may have.

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But what we are doing is actually infinite
game.

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There's no ending in this.

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Hmm. what makes it so hard?

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Because see, these words aren't universal
words.

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Yeah.

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Right? Because your hard that comes from
Kay's dictionary might be

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a way different dictionary that somebody
that that hasn't lived the hard.

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Sure. Yeah. I mean so it is it's it's ~
it's very hard

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to articulate what exactly it is,

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but again, like ~ every single ~ problems
~ you try to solve

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~ every single minute and you invest your
time and resources and

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one problem you solve, but immediately or
maybe consecutively,

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like the next problems comes to you.

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And then like

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Again, like when I first started my
company,

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I thought, ~ well, so maybe a couple of
years,

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~ if I built this product and then if I
can sell this product,

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then probably I'll I'll I should be able
to purchase maybe Lamborghini or you know,

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I should become a millionaire.

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But the the point is it is not actually.

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Every single day you're actually
struggling and to survive and even after

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Let's say ~ you went through those kind of
death valley,

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and then you still every single day you
need to make a decision

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to survive long enough. And if you don't
survive long enough,

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then there's no chance that you can see
the result,

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right? So hard means to me,

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~ it's like realizing the ~ the infinite
game of this entrepreneurship.

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It's like never ending. The only way that
I can Yeah.

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Go to other way.

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Yeah. The only way that I can finish this
is just giving up.

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I was like one day I was like,

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Mark, I'm done. I can't do this anymore.

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Then that's the time that I can finish my
this ~ infinite game.

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But until then, this game is going to be
never ending.

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Yeah.

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And don't you have to accept and believe
that you're never gonna give

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up to keep going.

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Yes, that's true. ~ maybe like until the
end of my life I wouldn't give up.

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So I have my own mission. So like actually
to be honest with you,

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~ at the beginning stage of my startup
life,

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I was like, I built the product to become
rich.

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So the money was the only reason for me.

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But you know what? The my first try,

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first product, second product and third
product,

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all product actually I wanted to become a
millionaire.

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But you know I failed.

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All product and then project all failed.

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I failed to sol product and then I failed
to convince people to use a my product.

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And then like all of a sudden,

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like I was like, wait a minute,

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what am I doing? Like I'm building the
product to change something.

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I'm building the product to, you know,

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help somebody. Doesn't it ~ have to be my
~ what's my call my mission and my goal?

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And then I was like changing my view,

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like rather than ~ chasing money to become
a millionaire.

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I was like, okay, maybe let's focusing on
the ~ first principle,

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the core problem that I can solve for the
people.

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Then that ~ changing of my perspective and
the view of

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my entrepreneurship happened on back in
2018.

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So like rather than focusing on money,

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I was like, okay, let's focusing on the
solving the problem of drivers.

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That that's how I became like this old.

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Like I didn't have this much of white gray
hair on a mustache.

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Like I I can't believe that look look at
me like I like looks like I'm like sixty.

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You look younger than me, hey,

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since we're talking about your company,

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let me give you an intro. We give
everybody an intro,

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and then it'll be the launch of of the
company here.

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So today's guest is Kay Wu. It he's the
founder and CEO of Tata and Through.

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It's T-A-D-A, and Through is T-H-R-O-O.

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~ Kay has built businesses across
mobility,

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payments, and tech. But what makes his
story especially interesting is that

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he chose to enter markets dominated by
massive competitors.

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And compete with a completely different
philosophy,

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which I'm pumped to dig in with today.

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So as the founder of Tata, he challenged
traditional ride sharing economics with

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a zero commission model designed to give
drivers a larger share of what they earn.

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Along the way he's navigated startup
failures,

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which we just talked about a little bit,

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international expansion, emerging
technologies,

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and the challenge of building trust in
industries where trust is often

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in short supply. So officially Kay,

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welcome.

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To the necessary entrepreneur.

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Thanks for having me today.

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Yeah, man. ~ so what problem are you
trying to solve right now with ride
sharing?

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I touched on a zero commission model,

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giving more back to drivers. What problem
did you identify that said,

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let me solve this? And then since you
started there,

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how's that problem evolved and what's that
solving look like?

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Okay, so I mean let me define the problem
in a very simple manner.

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so as you know, like probably you've been
using Uber or other Bitcoin platform

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services, and then when you pay ~ let's
say $100,

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and then in the old end, like driver only
take fifty dollar.

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It doesn't make really sense.

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And then this problem actually actually
became worse these days.

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But back in 2018, like 2017 and 18,

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Drivers still struggling. Like,

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you know, they're paying like 35% of
commission to the giant platforms.

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And then whenever I had a meeting with
those kind of vendors and the drivers

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and the partners, their immediate question
to me was,

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so how much would you take from us?

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It's like this is actually a really,

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really threatening question for me as an
entrepreneur.

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I'm here to support them, but immediately
they're looking at me as a like,

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What's McCall? ~ some kind of

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Yeah, 'cause when yeah, 'cause when they
said,

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What are you going to take from us?

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Yeah. And it's like, Yeah, that's the
wrong com that's the wrong conversation.

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And I'll hand it back. Shouldn't it be let
me figure out a way to help

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you make more Exact and then through that,

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let me make some profit too.

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Right. So but the point is actually I told
them,

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okay, so I'm a good guy, so I'm gonna
charge you lesser commission.

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Right? But lesser commission? So what is
what do you mean by r lesser commission?

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And the less commission is like,

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okay, so they charge, let's say thirty
five percent,

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but we'll go with ~ ten or fifteen
percent.

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They're like, Well, but you don't have any
demand,

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you don't have any user base. Then even if
you charge lesser commission,

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then how can you, you know

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help us to make more money. So that's
actually very fair,

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you know, counter ~ answer for me.

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I was like, okay, so yeah, Lesser
Commission,

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I thought Lesser Commission is good enough
for them,

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but the point is they literally want to
change the how they ~ interact with

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the platform. But there's no solutions
back then.

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And then I was like I was asking around to
my friends and people

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and almost all everybody is like,

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they're just following the

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the traditional way of doing the business,

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like platform like a high commission,

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or even at the beginning stage,

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even if you charge high commission,

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you give a high bonus. So that make people
feeling that they're making

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a lot of money. But in the old end,

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like they need to actually take the money
back and also pay back to their investors.

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So those kind of equations is actually
been used for over let's say several
decades,

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I guess. Then the my my next question

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to them and to myself as well was like
then what should I what should I do?

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Like if I follow the traditional way of
doing this commission based platform

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business, there's no chance for me to
fight against the big giant,

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right? They already set their rules and
their pocket is like too deep,

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like billions of dollars on their pocket.

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Like whenever they want, they can just
squeeze me,

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like squish me like any time, right?

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If I fight back to them like with let's
say

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Alright, so everybody sign up with our
service.

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I'll give you guys this a fifty percent
discount on the first you're right.

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And then you know what? Like those big
giant platform,

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they can just simply do it like
immediately.

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So it's not sustainable at all.

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And also those investors and then VCs,

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they're very skeptical of mobility
services.

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And then I was actually like one Asian
guy,

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like try to do the ~ right heading service
and

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random places and then how could they
trust me?

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And then if back then even 2017 and 18,

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like those big giant platforms,

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they couldn't even make a profit.

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Their loss is like was like billions of
dollars.

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And then there's no point for those
investors looking like our review

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our port ~ our service and then investing
into us.

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That's like I was like, okay. So then we
were kinda in stuck in between.

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So we cannot even convince those,

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you know

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Drivers and the users, but also at the
same time,

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we couldn't convince the investors as
well.

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So it's like none of those ~ side is like
try to be with us.

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I was like, then my next question is like,

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looks like we are gonna die anyway.

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So

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Thank you.

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let's think our side of the box.

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If we keep on following the rule that's
set by the big giant platform,

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there's no chance for us to win.

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So

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00:12:42,284 --> 00:12:44,516
I was like, I was discussing with my
co-founder,

236
00:12:44,516 --> 00:12:48,879
my CTO, and then why don't we ~

237
00:12:49,619 --> 00:12:54,543
set up like new types of platform that
nobody ever done before?

238
00:12:54,543 --> 00:12:59,446
Which we could build some kind of you know
platform that

239
00:12:59,446 --> 00:13:05,682
can give back the whole value that we're
creating together as a as a as a whole,

240
00:13:05,682 --> 00:13:10,624
you know, network. So then if we can
manage to ~ to build and deliver that.

241
00:13:11,168 --> 00:13:17,222
then we should be able to have ~ certain
market poor market share like
meaningfully.

242
00:13:17,222 --> 00:13:22,126
So that was the initial idea that we
started and back in 2018.

243
00:13:22,126 --> 00:13:27,670
And then ride handling itself is ~ less
commission is not attractive at all.

244
00:13:27,670 --> 00:13:31,963
If you want to convince the market and the
participants and the drivers

245
00:13:31,963 --> 00:13:33,794
and the users, you gotta go extreme.

246
00:13:33,794 --> 00:13:38,247
Either you have a deep pocket and spending
a lot of money to fight back

247
00:13:38,247 --> 00:13:39,508
for those high commission models,

248
00:13:39,943 --> 00:13:43,208
Or you should go as a completely in a
zero.

249
00:13:43,852 --> 00:13:46,184
Yep. So

250
00:13:45,336 --> 00:13:46,336
So don't

251
00:13:46,184 --> 00:13:48,026
here you so here you are. So that's the
problem,

252
00:13:48,026 --> 00:13:52,761
right? What most people quit at that
moment because it f it felt helpless,

253
00:13:52,761 --> 00:13:54,173
right? You're like, how in the world?

254
00:13:54,173 --> 00:13:56,555
So if you were just chasing money still,

255
00:13:56,555 --> 00:13:59,098
like in the earlier ones, you quit at that
moment.

256
00:13:59,098 --> 00:14:01,701
Right. So what kept you going?

257
00:14:01,701 --> 00:14:02,922
Why did you keep going then?

258
00:14:03,726 --> 00:14:06,158
~ Wow, this is actually a very,

259
00:14:06,158 --> 00:14:12,173
very deep question. ~ I just ~ okay.

260
00:14:12,173 --> 00:14:15,245
~ well this is very difficult question
also.

261
00:14:15,245 --> 00:14:18,008
You just touched my like very deep,

262
00:14:18,008 --> 00:14:22,481
deep, deep ~ inside of my ~ pain that I
had before.

263
00:14:22,481 --> 00:14:23,481
So

264
00:14:26,348 --> 00:14:31,082
When I was in high school, I always wanted
to build the a product

265
00:14:31,082 --> 00:14:33,224
or business that helping people.

266
00:14:33,224 --> 00:14:35,726
But also at the same time I was I was
greedy.

267
00:14:35,726 --> 00:14:38,748
I wanna ~ I want to become a like rich
person.

268
00:14:38,748 --> 00:14:43,753
And as a country boy, like I'm I'm born in
Korea and my hometown

269
00:14:43,753 --> 00:14:46,685
is actually also like two hours drive from
the Seoul,

270
00:14:46,685 --> 00:14:50,218
like capital city. And like as a small
country boy,

271
00:14:50,218 --> 00:14:53,221
like you always dream big, like you wanna
do something new,

272
00:14:53,221 --> 00:14:54,732
but I couldn't ~

273
00:14:54,966 --> 00:14:59,239
you know, have a chance. But I got lucky
to get into a good university

274
00:14:59,239 --> 00:15:04,032
in Seoul and then I get to see many people
and then I see the opportunity that

275
00:15:04,032 --> 00:15:06,994
I can do something. But again I I couldn't
do it.

276
00:15:06,994 --> 00:15:11,297
And after that, like I started my company,

277
00:15:11,297 --> 00:15:15,480
~ luckily here in New York, back in 2012.

278
00:15:15,480 --> 00:15:19,363
But I got ~ got married ~ around that time
as well.

279
00:15:19,363 --> 00:15:23,046
So I have my my son on my side and then

280
00:15:23,564 --> 00:15:27,736
Like my family is actually really
supporting me and my dream and my wife

281
00:15:27,736 --> 00:15:33,660
was like she's like, Okay, you should ~
you should keep on pursuing your dream.

282
00:15:33,660 --> 00:15:37,001
And she's the one who's actually ~ keep on
helping me.

283
00:15:37,001 --> 00:15:40,979
Even if I couldn't make any money like
over three or four years,

284
00:15:40,979 --> 00:15:43,825
she was like, Do it, chase your dream.

285
00:15:43,825 --> 00:15:49,738
I support you. So she was the one who's
actually sacrificing for me and then

286
00:15:49,738 --> 00:15:51,469
I was the one who's chasing the dream,

287
00:15:51,469 --> 00:15:52,470
right?

288
00:15:52,696 --> 00:15:57,740
But if I give up my dream because of s I
don't know,

289
00:15:57,740 --> 00:15:59,131
here and there small problems.

290
00:15:59,131 --> 00:16:01,803
And then if I give up my dream so easily,

291
00:16:01,803 --> 00:16:07,037
then those three or four, five years of
sacrifice of my family is like

292
00:16:07,338 --> 00:16:09,640
it became nothing, right? So I was like,

293
00:16:09,640 --> 00:16:12,462
there's no chance for me to give things
up.

294
00:16:12,462 --> 00:16:17,346
And then that also gave me an energy to
find a way to survive.

295
00:16:17,346 --> 00:16:22,420
But again, like with this whole thinking
process that helped me to set up

296
00:16:22,954 --> 00:16:26,338
my ~ like philosophy again.

297
00:16:26,338 --> 00:16:30,763
Like rather than focusing on making money
or being rich,

298
00:16:30,763 --> 00:16:34,428
like really, really solving the problem
for people.

299
00:16:34,428 --> 00:16:39,594
So that's how I ~ ended up like now
talking to you here.

300
00:16:40,302 --> 00:16:43,787
And not quitting. So what happen what
happened when you we got

301
00:16:43,787 --> 00:16:45,610
to the intersection where you had to make
a decision?

302
00:16:45,610 --> 00:16:47,613
Like we can't compete doing what they're
doing.

303
00:16:47,613 --> 00:16:50,257
So we have to change and do something.

304
00:16:50,257 --> 00:16:53,411
So what happened at that decision moment
and that brings us here to where

305
00:16:53,411 --> 00:16:54,411
we are today?

306
00:16:55,934 --> 00:16:59,544
~ this is actually really good questions
and also I want to share this

307
00:16:59,544 --> 00:17:01,428
to all other entrepreneurs as well.

308
00:17:01,428 --> 00:17:02,428
~

309
00:17:04,263 --> 00:17:09,565
If ~ we keep on following those kind of ~
circumvent

310
00:17:09,565 --> 00:17:13,597
or existing players you know, way of
business model,

311
00:17:13,597 --> 00:17:18,968
there's no chance for us to ~ flip the
market share or win the game because
they're

312
00:17:18,968 --> 00:17:21,779
the one who's actually who set the rule
already.

313
00:17:21,779 --> 00:17:24,259
Like how to acquire the drivers,

314
00:17:24,259 --> 00:17:28,000
how to acquire the customers, how to make
people the user service,

315
00:17:28,000 --> 00:17:33,632
how to maximize your profit from the let's
say users users ~ you know.

316
00:17:34,348 --> 00:17:38,923
you know, user base user data and then all
those kind of rules and you know,

317
00:17:38,923 --> 00:17:43,197
mechanisms is like there's no way that you
can break because those

318
00:17:43,197 --> 00:17:47,011
big giant platforms and and big companies
actually they've been building that

319
00:17:47,011 --> 00:17:49,974
service and platforms and technologies
over ten years.

320
00:17:49,974 --> 00:17:52,176
And then I just start a service.

321
00:17:52,176 --> 00:17:57,221
Now how can you compete against them with
the same ~ you know,

322
00:17:57,221 --> 00:17:58,221
playbook?

323
00:17:59,000 --> 00:18:03,322
So if you want to actually change the
whole game or if you want to bring

324
00:18:03,322 --> 00:18:06,994
the impact into the market, you gotta have
a different playbook.

325
00:18:06,994 --> 00:18:10,106
Otherwise, again,

326
00:18:10,106 --> 00:18:14,518
like with just one click, they can just
simply squeeze you like right away.

327
00:18:15,326 --> 00:18:17,409
Mm hmm. So what's your playbook?

328
00:18:17,409 --> 00:18:21,055
Did you realize then you had to design and
write a new playbook,

329
00:18:21,055 --> 00:18:23,429
or did you start thinking like maybe it
should be different?

330
00:18:23,429 --> 00:18:27,145
Was there this big moment that you stopped
playing by the same game here

331
00:18:27,145 --> 00:18:29,148
and the next day you re that it happened?

332
00:18:29,148 --> 00:18:30,148
Yeah.

333
00:18:30,510 --> 00:18:33,423
So like so the on a decision day,

334
00:18:33,423 --> 00:18:36,530
all right, guys, let's do this right.

335
00:18:36,530 --> 00:18:40,379
So we're not gonna follow the existing
platform playbook like with

336
00:18:40,379 --> 00:18:42,040
a high commission, like twenty percent,

337
00:18:42,040 --> 00:18:43,922
thirty percent. We are not gonna do that.

338
00:18:43,922 --> 00:18:48,306
Again, like let's let's think outside of
the box.

339
00:18:48,306 --> 00:18:54,651
So rather than charging them, let's give
all benefit to the participants,

340
00:18:54,651 --> 00:18:57,254
starting from the drivers. So

341
00:18:58,036 --> 00:18:59,697
Normal right-handing platforms,

342
00:18:59,697 --> 00:19:01,409
actually, those big giant platforms,

343
00:19:01,409 --> 00:19:05,312
~ typically they define their customers,

344
00:19:05,312 --> 00:19:08,435
riders as their customer.

345
00:19:08,435 --> 00:19:10,777
Drivers are not their customer.

346
00:19:10,777 --> 00:19:15,061
Drivers are actually just one of the ~
disposable units for them.

347
00:19:15,061 --> 00:19:17,523
So they just simply deactivate driver's
account.

348
00:19:17,523 --> 00:19:21,496
Like if there is any false activation or a
small mistake,

349
00:19:21,496 --> 00:19:24,008
they just simply press the button and
deactivate the account.

350
00:19:24,008 --> 00:19:25,830
That's the the the also

351
00:19:26,338 --> 00:19:28,479
very, very known issue like these days.

352
00:19:28,479 --> 00:19:34,390
~ but rather than ~ defining ~ those
riders as a customer,

353
00:19:34,390 --> 00:19:36,161
we define drivers as a customer.

354
00:19:36,161 --> 00:19:40,032
So we're building the software stack that
helps drivers to earn 100%

355
00:19:40,032 --> 00:19:42,132
of their income. And then by doing so,

356
00:19:42,132 --> 00:19:44,703
drivers actually can provide a better
service to the users,

357
00:19:44,703 --> 00:19:51,015
which is riders. So driver as a b becoming
our ~ first ~ primary customer

358
00:19:51,015 --> 00:19:53,265
and the rider become our secondary
customers.

359
00:19:53,265 --> 00:19:55,956
That's how we set up this triangle
relationship.

360
00:19:56,236 --> 00:19:59,788
So after setting this up, then we go even
more extreme.

361
00:19:59,788 --> 00:20:02,789
Not just the defining ~ the customer in a
different way,

362
00:20:02,789 --> 00:20:07,131
but also we're giving a hundred percent of
benefit to drivers.

363
00:20:07,131 --> 00:20:09,422
That's how we start with the zero percent
commission.

364
00:20:09,422 --> 00:20:14,994
But let me give you one ~ explanation of
how we became like zero percent commission

365
00:20:14,994 --> 00:20:18,015
right hailing service. So zero percent
commission cannot

366
00:20:18,856 --> 00:20:23,958
be ~ given just with one simple decision.

367
00:20:26,188 --> 00:20:30,010
It's a common sense. If you don't add any
if you don't if you cannot make

368
00:20:30,010 --> 00:20:32,821
any money from, let's say, your business,

369
00:20:32,821 --> 00:20:35,182
this business is not going to sustain long
enough.

370
00:20:35,182 --> 00:20:39,144
Then how can you survive? Like zero
percent commission.

371
00:20:39,144 --> 00:20:42,845
Many of ~ my friends and investors and you
know,

372
00:20:42,845 --> 00:20:46,947
those industry people like asking me a
question like zero percent commission,

373
00:20:46,947 --> 00:20:51,369
how can you survive? So what I told them
is actually we built

374
00:20:51,369 --> 00:20:54,050
the ~ infrastructure network of drivers.

375
00:20:54,690 --> 00:20:57,191
So when we are building this
infrastructure network,

376
00:20:57,191 --> 00:20:59,692
we are actually building this on top of
the blockchain.

377
00:20:59,692 --> 00:21:03,914
So blockchain infrastructure are helping
us to create the mobility protocol.

378
00:21:03,914 --> 00:21:09,917
And with this protocol, we can actually ~
record all these drivers' contribution.

379
00:21:09,917 --> 00:21:12,508
And then by doing so, we can give them a
more benefit,

380
00:21:12,508 --> 00:21:17,470
like 100% of their income. And then while
they're participating into this network,

381
00:21:17,470 --> 00:21:21,141
actually the value of network is actually
growing together.

382
00:21:21,141 --> 00:21:22,141
So

383
00:21:22,422 --> 00:21:26,274
We introduce this blockchain protocol with
our crypto asset as well.

384
00:21:26,274 --> 00:21:29,665
And then this asset actually grows
together with the network growth.

385
00:21:29,665 --> 00:21:34,087
So that's the one way that we can actually
capture the whole network value into

386
00:21:34,282 --> 00:21:39,659
~ our ~ protocol. Then this ~
right-heading service of Tada

387
00:21:39,659 --> 00:21:44,742
and through 0% Commission, this is the
channel that we are actually attracting

388
00:21:44,742 --> 00:21:48,193
all these drivers into our infrastructure
network.

389
00:21:48,193 --> 00:21:50,194
So by making this way,

390
00:21:50,466 --> 00:21:55,088
we can actually build the largest driver
network without spending too much money.

391
00:21:55,088 --> 00:21:58,609
So past three months here in New York,

392
00:21:58,609 --> 00:22:04,612
I visited ~ LaGuardia Airport parking lot
and JFK Airport parking lot

393
00:22:04,612 --> 00:22:08,673
and talked to the drivers. And over this
three month of period,

394
00:22:08,673 --> 00:22:11,375
we've acquired over fifty thousand
drivers.

395
00:22:11,375 --> 00:22:13,465
Drivers actually keep on joining us.

396
00:22:13,465 --> 00:22:15,876
And then they're like, We need the
competition.

397
00:22:15,876 --> 00:22:19,428
We need the new app. And then Jira Sand
Commission sounds good,

398
00:22:19,428 --> 00:22:20,428
but

399
00:22:20,448 --> 00:22:22,780
And also we need to bring more writers for
them,

400
00:22:22,780 --> 00:22:29,344
but this is really working. So that's
that's how we we built the whole system.

401
00:22:29,344 --> 00:22:33,567
So JeroPos and Commission didn't come ~ by
itself.

402
00:22:33,567 --> 00:22:37,630
It actually comes together with the
blockchain infrastructure underneath of
it.

403
00:22:37,630 --> 00:22:40,192
And then these two combined together,

404
00:22:40,192 --> 00:22:42,984
we're building actually one largest driver
network.

405
00:22:43,692 --> 00:22:45,424
That's awesome. So as a consumer,

406
00:22:45,424 --> 00:22:47,805
is it as simple as would we feel something
different?

407
00:22:47,805 --> 00:22:49,978
There's a there's a bunch of ride sharing
companies now,

408
00:22:49,978 --> 00:22:53,651
but the two big ones, would we f if we
have the Tata app,

409
00:22:53,651 --> 00:22:57,755
right? So we have the app and is there a
different experience or

410
00:22:57,755 --> 00:23:02,199
is it something that we can be familiar
with to the consumer to the user base?

411
00:23:02,199 --> 00:23:05,662
It feels like, this is good, and I like
participating in it because more money's

412
00:23:05,662 --> 00:23:09,396
going back to the driver. What's the
what's the call to action for the
consumer?

413
00:23:10,392 --> 00:23:16,207
So ~ again, like user experience in terms
of application usage is exactly the same.

414
00:23:16,207 --> 00:23:19,080
You just call the call and then you get
matched,

415
00:23:19,080 --> 00:23:23,674
and then you you you go from A to B and
then you pay the service fee.

416
00:23:23,674 --> 00:23:26,977
~ drivers, on the other hand, like no
commission here,

417
00:23:26,977 --> 00:23:29,199
driver actually take a hundred percent of
their income here.

418
00:23:29,199 --> 00:23:34,775
So that's the big difference. And then ~
with this process actually users also

419
00:23:34,775 --> 00:23:36,286
can save their cost though.

420
00:23:36,728 --> 00:23:38,699
So now like I I gave an example.

421
00:23:38,699 --> 00:23:41,523
There's one case that here for example
here in New York,

422
00:23:41,523 --> 00:23:47,679
one driver actually telling me told me the
story that ~ his customer actually from

423
00:23:47,679 --> 00:23:51,832
New York to like a one hour and a half
ride outside of New York State

424
00:23:52,113 --> 00:23:55,196
and then he received a hundred fifty
dollar,

425
00:23:55,196 --> 00:23:57,438
but customer paid three hundred fifty
dollars.

426
00:23:59,778 --> 00:24:04,249
So this is actually like real problem here
in New York and not just only New York,

427
00:24:04,249 --> 00:24:08,681
maybe ~ whole US market here. ~ but driver
side,

428
00:24:08,681 --> 00:24:12,662
for example, ~ we can uplift their income.

429
00:24:12,662 --> 00:24:16,323
For example, in this case, we can actually
charge lesser,

430
00:24:16,323 --> 00:24:17,573
let's say not three hundred fifty,

431
00:24:17,573 --> 00:24:19,454
maybe two hundred fifty. Yeah.

432
00:24:19,454 --> 00:24:24,185
And then we give driver like over two
hundred and two to thirty.

433
00:24:24,185 --> 00:24:26,906
We just we need to pay to a certain amount
of tax.

434
00:24:27,234 --> 00:24:30,567
So after deducting the tax, we can give
actually we can make everybody happy.

435
00:24:30,567 --> 00:24:32,234
So that's the mechanism.

436
00:24:32,802 --> 00:24:35,667
D can is the driver in control of that
price at all,

437
00:24:35,667 --> 00:24:37,130
or are you in control of that?

438
00:24:37,838 --> 00:24:43,443
So we set the pricing table. ~ drivers
don't set the price he on our system.

439
00:24:43,443 --> 00:24:49,187
So we calculate the ~ the routing and the
minutes and then we set the price

440
00:24:49,348 --> 00:24:52,180
and then with this pricing table we don't
take any commission.

441
00:24:53,752 --> 00:24:55,855
So how many cities? So if I fly to Miami,

442
00:24:55,855 --> 00:24:57,697
is it in Miami? Is it in New York?

443
00:24:57,697 --> 00:24:58,828
Is it in Boston? Where are we at?

444
00:24:58,828 --> 00:25:00,160
Are we just New York City? Where are we
at?

445
00:25:00,878 --> 00:25:04,521
So now we're in New York, but also Denver.

446
00:25:04,521 --> 00:25:08,364
We are actually servicing together with
the Cooperative Colorado.

447
00:25:08,364 --> 00:25:14,329
This is actually a new experiment actually
we did here in US for the first time.

448
00:25:14,329 --> 00:25:16,821
So we're not going with our service brand.

449
00:25:16,821 --> 00:25:20,725
We are actually giving them support of our
software and then let them

450
00:25:20,725 --> 00:25:25,438
run their s our system and then those
drivers group in Colorado,

451
00:25:25,438 --> 00:25:29,480
they can actually run the service and and
the service is growing every single day.

452
00:25:30,382 --> 00:25:33,640
That's awesome. How many is this in South
Korea as well?

453
00:25:33,640 --> 00:25:34,914
I bet you activated in Seoul.

454
00:25:36,200 --> 00:25:39,412
Not yet. ~ so actually I'm a Korean.

455
00:25:39,412 --> 00:25:43,555
~ happen to be I'm the founder of Korean
but Singaporean companies.

456
00:25:43,555 --> 00:25:45,337
Our headquarters in Singapore.

457
00:25:45,337 --> 00:25:47,528
So we're servicing in Singapore,

458
00:25:47,528 --> 00:25:50,801
Cambodia, Vietnam, ~ where else?

459
00:25:50,801 --> 00:25:52,702
~ Thailand, Hong Kong.

460
00:25:53,432 --> 00:25:56,443
Wow. Okay. Awesome. So what do you think
this becomes?

461
00:25:56,443 --> 00:25:58,784
So you're trying to get to a tipping
point,

462
00:25:58,784 --> 00:25:59,784
right?

463
00:25:59,469 --> 00:26:00,469
Where

464
00:26:00,165 --> 00:26:02,806
It just is adopted. Everyone knows about
it.

465
00:26:02,806 --> 00:26:05,798
When do you think that happens?

466
00:26:05,798 --> 00:26:09,669
Like you have these goals on the when when
does it become adoptable

467
00:26:09,669 --> 00:26:13,421
and consumers are downloading app and
knowing because to a consumer,

468
00:26:13,421 --> 00:26:16,833
if it's the same service, but it's like
maybe I save twenty percent,

469
00:26:16,833 --> 00:26:19,134
you know that's a big draw for a consumer
spending.

470
00:26:19,776 --> 00:26:22,988
It is. Right. ~ so again,

471
00:26:22,988 --> 00:26:27,490
like our playbook is actually different
from those big giant platforms.

472
00:26:27,490 --> 00:26:29,861
When they go into the new market,

473
00:26:29,861 --> 00:26:32,352
what they do is actually they burn
billions of dollars,

474
00:26:32,352 --> 00:26:34,653
right? To make everybody know about your
service.

475
00:26:34,653 --> 00:26:37,474
But we don't do that. What we do,

476
00:26:37,474 --> 00:26:43,387
we build the ours ~ use let's say driver
base first and then let drivers become

477
00:26:43,387 --> 00:26:45,058
the marketer. Because

478
00:26:46,508 --> 00:26:49,625
Because they're the one who's actually ~
running their own business on

479
00:26:49,625 --> 00:26:53,774
top of our software. So they're the one
who's talking to their friends and
families.

480
00:26:54,510 --> 00:26:56,636
If they're making more money using your
service,

481
00:26:56,636 --> 00:26:59,092
they would want everybody they know to log
in and grab from that.

482
00:26:59,092 --> 00:27:00,092
Exactly.

483
00:26:59,470 --> 00:27:00,521
Okay. Yeah.

484
00:27:00,521 --> 00:27:03,523
So like you mentioned that ~ twenty
percent are cheaper,

485
00:27:03,523 --> 00:27:07,605
for example, then Rider. They what they
need to do is actually they need

486
00:27:07,605 --> 00:27:09,557
to try our service one or two times.

487
00:27:09,557 --> 00:27:15,402
And that's it. So we don't even need to
keep on giving coupons and promotions

488
00:27:15,402 --> 00:27:19,925
to the users. They can just simply
download the app and try one or two times.

489
00:27:19,925 --> 00:27:25,809
To to initiate such activity we need to
spend certain amount of marketing budget,

490
00:27:25,809 --> 00:27:26,809
but it's not

491
00:27:27,436 --> 00:27:29,051
ridiculous amount of marketing budget.

492
00:27:29,051 --> 00:27:33,626
I'll you may be surprised at how much
money that we are spending for the
marketing.

493
00:27:33,626 --> 00:27:34,730
It's very marginal.

494
00:27:35,278 --> 00:27:37,280
Very small. So what do you do?

495
00:27:37,280 --> 00:27:40,644
Let's talk about the metaphorical elephant
in the room.

496
00:27:40,644 --> 00:27:43,127
So I was in Atl I was in Atlanta

497
00:27:43,830 --> 00:27:44,830
Okay.

498
00:27:44,369 --> 00:27:49,154
and I ordered a ride from one of your
competitors.

499
00:27:49,580 --> 00:27:50,824
Yeah, okay, a big giant, yeah.

500
00:27:52,002 --> 00:27:55,634
And a driverless car showed up known as a
Waymo.

501
00:27:55,634 --> 00:27:58,636
And it's the first time I'd ridden in one.

502
00:27:58,636 --> 00:28:01,247
And my brain first went, Wait a minute.

503
00:28:01,247 --> 00:28:03,709
But I said, Okay, let's go, I'm
adventurous.

504
00:28:03,821 --> 00:28:04,821
Okay. Yeah.

505
00:28:05,730 --> 00:28:07,291
After it, for the next three days,

506
00:28:07,291 --> 00:28:09,552
I was there for a conference. After that,

507
00:28:09,552 --> 00:28:14,138
inside that app, there was something I
could check that I choose

508
00:28:14,138 --> 00:28:19,538
a Waymo more frequent if it's available
versus a human driver because

509
00:28:20,076 --> 00:28:21,529
Mm-hmm. It became very comfortable.

510
00:28:21,529 --> 00:28:26,117
So what does K running Tada, what do you
do in this new world

511
00:28:26,398 --> 00:28:28,431
of this driverless thing coming online?

512
00:28:28,431 --> 00:28:30,235
Does that concern you as an entrepreneur?

513
00:28:30,235 --> 00:28:31,235
Where's your brain at?

514
00:28:32,462 --> 00:28:34,484
I don't concern at all. Actually,

515
00:28:34,484 --> 00:28:39,809
I I think this is actually inevitable
future.

516
00:28:39,809 --> 00:28:42,131
It's gonna happen anyway. You can't stop
this.

517
00:28:42,131 --> 00:28:45,414
So it's gonna happen anyway. And then look
at yourself.

518
00:28:45,414 --> 00:28:48,656
Like you prefer that quiet, like
driverless car.

519
00:28:48,656 --> 00:28:50,578
Like you want your own privacy,

520
00:28:50,578 --> 00:28:53,091
right? So it's gonna happen anyway.

521
00:28:53,091 --> 00:28:58,125
But my next question to you and then to
other people as well who's gonna

522
00:28:58,125 --> 00:28:59,125
own this vehicle?

523
00:29:01,470 --> 00:29:03,231
Who's gonna maintain this vehicle?

524
00:29:03,231 --> 00:29:09,446
Like, is there anybody who thought about
the ~ unit economics

525
00:29:09,446 --> 00:29:15,352
of this AV? As of now, ~ per AV we need
actually

526
00:29:15,352 --> 00:29:19,045
~ two point five people to maintain one
vehicle.

527
00:29:19,045 --> 00:29:23,859
Right hailing vehicle is just only one
driver that you you as an owner

528
00:29:23,859 --> 00:29:25,130
you maintain your own vehicle,

529
00:29:25,130 --> 00:29:28,022
right? But AV unit economics is not there,

530
00:29:28,022 --> 00:29:30,134
but unit economics of AV is going to be

531
00:29:30,466 --> 00:29:33,620
become like a one person can maintain a
whole vehicle.

532
00:29:33,620 --> 00:29:37,216
It's gonna happen anyway. But again,

533
00:29:37,216 --> 00:29:38,267
they'll go back to the question,

534
00:29:38,267 --> 00:29:44,386
who's gonna own the vehicle? My my my
answer for that is drivers.

535
00:29:45,502 --> 00:29:46,502
Hmm.

536
00:29:47,384 --> 00:29:51,157
By helping drivers to own A V,

537
00:29:51,157 --> 00:29:56,340
then we can actually reduce the ~
operational cost.

538
00:29:56,340 --> 00:29:58,662
We can reduce the maintenance cost at all.

539
00:29:58,662 --> 00:30:01,684
So you you as a driver, for example,

540
00:30:01,684 --> 00:30:04,626
you purchase one A V, which for example,

541
00:30:04,626 --> 00:30:07,378
let's say there's Tesla Nova Taxi,

542
00:30:07,378 --> 00:30:10,440
the price wise is like less than twenty
thousand dollars,

543
00:30:10,440 --> 00:30:12,422
right? Yeah. You can own this robot,

544
00:30:12,422 --> 00:30:15,864
right? You can just buy one and then you
can let it

545
00:30:16,066 --> 00:30:18,987
You can let this vehicle work for you
during the day.

546
00:30:18,987 --> 00:30:21,688
And then after finishing finish working,

547
00:30:21,688 --> 00:30:23,629
then it can come back to your home.

548
00:30:23,629 --> 00:30:26,350
And then you clean the car and you charge
the car.

549
00:30:26,350 --> 00:30:28,331
Whenever you need, you can use it.

550
00:30:28,331 --> 00:30:31,492
So ownership of this vehicle, A V,

551
00:30:31,492 --> 00:30:36,475
I believe that this should be distributed
to the drivers and individuals.

552
00:30:36,475 --> 00:30:39,316
And then eventually this will ~ you know,

553
00:30:39,316 --> 00:30:43,017
demolish the wall between the drivers and
the users.

554
00:30:43,017 --> 00:30:44,438
And then eventually

555
00:30:44,702 --> 00:30:47,384
All users gonna be the owner of AV.

556
00:30:47,384 --> 00:30:50,145
So that's the future that I'm looking
into.

557
00:30:50,145 --> 00:30:55,915
And also this kind of vehicle ownership ~
program or ~ tokenized

558
00:30:55,915 --> 00:31:01,152
~ asset program that we are actually
experimenting in ~ Southeast Asia Asia

559
00:31:01,152 --> 00:31:06,315
and Japan. So we are actually tokenizing
the vehicle ownership or vehicle cash
flows

560
00:31:06,315 --> 00:31:10,528
ownership and piecewise it and selling
that to the investors in Japan.

561
00:31:10,968 --> 00:31:13,259
So for example, let's say drivers in
Cambodia,

562
00:31:13,259 --> 00:31:15,940
they need a vehicle, but they don't have
any credit history.

563
00:31:15,940 --> 00:31:19,241
But we know how much money that they're
making through our platform.

564
00:31:19,241 --> 00:31:22,652
So we help them to get a vehicle and then
we rent this vehicle to

565
00:31:22,652 --> 00:31:24,922
the drivers and then this cash flow,

566
00:31:24,922 --> 00:31:30,944
we are actually selling this cash flow as
a tokenized product to Japanese investors.

567
00:31:30,944 --> 00:31:34,165
APY is like eighteen percent.

568
00:31:35,006 --> 00:31:36,006
huge.

569
00:31:35,946 --> 00:31:36,946
Yeah.

570
00:31:36,627 --> 00:31:41,959
That's huge. So good. So what do you think
that you being

571
00:31:41,959 --> 00:31:44,190
the entrepreneur that you are,

572
00:31:44,190 --> 00:31:49,152
~ you're never gonna quit. Your family
made all those sacrifices to prop you up.

573
00:31:49,152 --> 00:31:54,605
Because even if you sold one that become
that became economically just outrageous

574
00:31:54,605 --> 00:31:58,086
in the value, you sold it, someone came
and offered you a check that's just

575
00:31:58,086 --> 00:32:00,057
astronomical, you're gonna do it again.

576
00:32:00,057 --> 00:32:01,346
Is

577
00:32:01,836 --> 00:32:03,504
I think so. Maybe not. Would you do it
again?

578
00:32:03,504 --> 00:32:06,547
Are you in a place in your life where you
wouldn't become an entrepreneur again?

579
00:32:07,598 --> 00:32:14,310
Well, ~ you know, you probably you've
you've heard about this like from many
other

580
00:32:14,310 --> 00:32:18,082
entrepreneurs. It's like is that building
the company and then being

581
00:32:18,082 --> 00:32:20,102
an entrepreneur is kinda like a drug.

582
00:32:20,102 --> 00:32:23,244
You cannot quit. So once you do it,

583
00:32:23,244 --> 00:32:25,858
you you're gonna keep doing it.

584
00:32:25,858 --> 00:32:28,985
So I would say ~ yeah,

585
00:32:28,985 --> 00:32:30,326
I would say I would do it again.

586
00:32:31,414 --> 00:32:32,651
But it caused your gray hair.

587
00:32:33,546 --> 00:32:38,231
I know. So maybe like I can be more
efficient if I do the second time.

588
00:32:39,506 --> 00:32:42,839
Makes sense. What do you think where where
the economy has with tech?

589
00:32:42,839 --> 00:32:45,190
We just talked about Waymo's, driverless
cars,

590
00:32:45,190 --> 00:32:48,623
AVs, right? That really personally touches
your space

591
00:32:48,623 --> 00:32:50,024
and your entrepreneurial adventure.

592
00:32:50,024 --> 00:32:55,598
It's right there. Most of us, most of us
are we're finding ways to utilize

593
00:32:55,598 --> 00:32:57,099
it and integrate it into business.

594
00:32:57,099 --> 00:33:03,713
But what does the forward thinking K what
do you spend much time thinking about

595
00:33:03,713 --> 00:33:07,266
2036? Because you just thought ahead to
say

596
00:33:07,500 --> 00:33:09,313
Who owns the car? I hadn't thought about
that yet.

597
00:33:09,313 --> 00:33:12,840
Right. You're th but but you're thinking
ahead because it affects your business.

598
00:33:12,840 --> 00:33:19,021
Are you thinking ahead in 2036 about the
world that us entrepreneurs

599
00:33:19,021 --> 00:33:20,714
are going to live in? Have you thought
about that?

600
00:33:22,786 --> 00:33:25,548
too, but like not the broad scale.

601
00:33:25,548 --> 00:33:29,100
But I do think about like in two thousand
thirty,

602
00:33:29,100 --> 00:33:35,535
two thousand thirty six, then like how is
the ~ the transportation industry gonna

603
00:33:35,535 --> 00:33:39,838
be at? And then especially here in US
market,

604
00:33:39,838 --> 00:33:42,660
~ with the Waimo and then Tesla,

605
00:33:42,660 --> 00:33:46,662
it's going to be completely different
landscape by that time.

606
00:33:46,662 --> 00:33:51,916
But the core question is ~ always like I
my belief is ~

607
00:33:52,226 --> 00:33:56,808
The technology development should give a
benefit to the people,

608
00:33:56,808 --> 00:33:59,709
not just one or two, you know,

609
00:33:59,709 --> 00:34:04,422
biggest capital owners. So my answer for
that,

610
00:34:04,422 --> 00:34:06,432
like AV, who's gonna own the AV?

611
00:34:06,432 --> 00:34:11,844
I would rather ~ have the future that ~
those kind of ownership distributed

612
00:34:11,844 --> 00:34:17,458
to the individuals so that they can be the
part of this ~ you know trajectory.

613
00:34:17,458 --> 00:34:18,458
And then

614
00:34:19,018 --> 00:34:22,396
We don't have to worry about them to being
left behind.

615
00:34:22,396 --> 00:34:26,927
So they can be the part of this actually
whole growth and the social development.

616
00:34:26,927 --> 00:34:27,927
So that's

617
00:34:28,803 --> 00:34:30,443
That's how you see it. So you think your
platform,

618
00:34:30,443 --> 00:34:31,444
you're already thinking ahead.

619
00:34:31,444 --> 00:34:34,766
You're thinking because you're you're
already connecting some investors

620
00:34:34,766 --> 00:34:38,069
in Japan that want to actually buy the
normal car.

621
00:34:38,069 --> 00:34:40,791
You're thinking in the future your
platform will still be something

622
00:34:40,791 --> 00:34:45,121
how it's evolving. You'll have the
investor who will buy the A V,

623
00:34:45,121 --> 00:34:49,067
then will lease it or rent it to the user,

624
00:34:49,067 --> 00:34:52,139
the person who operates at they wash it at
night,

625
00:34:52,139 --> 00:34:55,801
they maintain it. You think that your
service can be the platform that

626
00:34:55,801 --> 00:34:56,851
all of that can work through.

627
00:34:57,464 --> 00:35:00,775
That's right. Yeah. So that's actually
what we are currently doing.

628
00:35:00,775 --> 00:35:05,887
So in Singapore, for example, in Singapore
there is a small island attached called

629
00:35:05,887 --> 00:35:08,536
the Sentosa Island. This Santosa Island,

630
00:35:08,536 --> 00:35:11,800
we're gonna run this two autonomous you
know,

631
00:35:11,800 --> 00:35:16,322
shuttle, I would say, ~ on-demand shuttle
for six people can fit in.

632
00:35:16,322 --> 00:35:18,603
So there are two vehicles we're gonna run,

633
00:35:18,603 --> 00:35:21,094
but per vehicle is like f very expensive,

634
00:35:21,094 --> 00:35:23,795
like a million dollars. So but this
vehicle,

635
00:35:23,795 --> 00:35:26,906
we want to distribute the ownership of
this vehicle.

636
00:35:27,278 --> 00:35:32,113
To our drivers in Singapore and also allow
investors to join the ownership

637
00:35:32,113 --> 00:35:34,546
of this vehicle. By setting this way,

638
00:35:34,546 --> 00:35:39,501
then we can actually distribute this
future cash flow or benefit

639
00:35:39,501 --> 00:35:41,193
to those participants and the people.

640
00:35:41,193 --> 00:35:45,468
So we're expand we we are actually running
it and experimenting it.

641
00:35:45,468 --> 00:35:49,002
And then if this works well, then we're
gonna go at scale.

642
00:35:49,838 --> 00:35:52,269
Hm. At scale that means in Asia,

643
00:35:52,269 --> 00:35:54,922
possibly here in the US. Does that same
model work here?

644
00:35:55,768 --> 00:36:00,241
I think so. ~ but we we need to actually
comply the rules of those kind

645
00:36:00,241 --> 00:36:02,382
of tokenization, asset tokenization.

646
00:36:02,382 --> 00:36:05,084
But if we go with this ~ you know,

647
00:36:05,084 --> 00:36:08,557
lease and rental and cash flow
tokenization,

648
00:36:08,557 --> 00:36:11,729
that's a little bit easier than asset
tokenization.

649
00:36:11,729 --> 00:36:17,625
But here in New York, I ever since I
started the business here,

650
00:36:17,625 --> 00:36:22,376
~ running the service and then many
drivers and the industry stakeholders
they're

651
00:36:22,376 --> 00:36:23,937
asking questions about, you know,

652
00:36:23,937 --> 00:36:25,058
how we can actually

653
00:36:25,634 --> 00:36:27,165
you know, tokenize those assets.

654
00:36:27,165 --> 00:36:31,558
Even those big giant ~ in insurance
companies actually they're they want

655
00:36:31,558 --> 00:36:33,639
to package something together with us.

656
00:36:33,639 --> 00:36:37,592
So it's this is not just the ~ like simple
demo.

657
00:36:37,592 --> 00:36:41,604
This is like a real world business being
connected to this ~ new world

658
00:36:41,625 --> 00:36:43,946
and new level of technology of blockchain.

659
00:36:44,524 --> 00:36:49,435
Hmm. So the tokenization are these tokens
that you create that are just

660
00:36:49,435 --> 00:36:52,532
out on the blockchain that everybody has a
percentage ownership in?

661
00:36:52,532 --> 00:36:53,532
What's that look like?

662
00:36:54,360 --> 00:36:59,924
So ~ so those drivers and then users and
they can also earn based

663
00:36:59,924 --> 00:37:05,318
on the their contribution. That's the that
was the initial design back in 2018.

664
00:37:05,318 --> 00:37:08,450
But nowadays we are changing we are
actually going to introduce a

665
00:37:08,450 --> 00:37:14,184
new concept next week. ~ this new concept
comes with the ~ agent teching as well.

666
00:37:14,184 --> 00:37:20,979
So but I cannot give you the detail as of
yet because we're gonna send

667
00:37:20,979 --> 00:37:22,029
out the PL next week.

668
00:37:23,148 --> 00:37:28,560
But this whole ~ users actually ~ as a ~
let me put it this way.

669
00:37:28,560 --> 00:37:32,721
~ as an investor, you hold the equity of
the company,

670
00:37:32,721 --> 00:37:35,882
right? So then as a as an equity equity
holder,

671
00:37:35,882 --> 00:37:40,153
you get to ~ see the information of the
company and then you get the dividend.

672
00:37:40,153 --> 00:37:42,494
And then you can also participate there's
some decision,

673
00:37:42,494 --> 00:37:44,324
certain level of decision of the company.

674
00:37:44,324 --> 00:37:48,405
But as a token holder on for for the
network,

675
00:37:48,405 --> 00:37:50,746
and then you can participate the
decisions.

676
00:37:51,020 --> 00:37:57,237
you can also ~ enjoy the benefit of let's
say the value growth of whole network

677
00:37:57,337 --> 00:38:01,481
by holding this token. That that's the
concept that we are introducing

678
00:38:01,481 --> 00:38:05,608
and then we've been running for past
fourteen years,

679
00:38:05,608 --> 00:38:06,608
yeah.

680
00:38:06,262 --> 00:38:08,788
Mm. So good. So fourteen years.

681
00:38:09,230 --> 00:38:10,230
Yeah.

682
00:38:10,152 --> 00:38:11,152
That's a long time.

683
00:38:11,692 --> 00:38:13,282
Yeah, it's crazy. Yeah. Look at me,

684
00:38:13,282 --> 00:38:14,640
like my three hairs.

685
00:38:15,704 --> 00:38:16,917
You've taken most of it off.

686
00:38:17,576 --> 00:38:22,153
I know. So so again, like this the reason
why also why I shaved my actually

687
00:38:22,153 --> 00:38:25,217
I had a long hair used to be, but I was
like,

688
00:38:25,217 --> 00:38:29,174
okay. I don't want to waste my time to set
my head.

689
00:38:29,174 --> 00:38:31,486
So I was like, okay, fine, I just shaved
it.

690
00:38:31,938 --> 00:38:34,046
Let it go. ~ so you mentioned,

691
00:38:34,046 --> 00:38:36,796
I think, a son earlier. It means he's a
teenager now.

692
00:38:37,048 --> 00:38:38,048
Right.

693
00:38:37,360 --> 00:38:38,485
Right, he is, yeah.

694
00:38:39,128 --> 00:38:45,717
So what is his experience in this new
world of tech versus

695
00:38:45,717 --> 00:38:49,082
how we grew up? Like how tell when you
look at him,

696
00:38:49,082 --> 00:38:52,457
how's he living? What's he experiencing?

697
00:38:52,457 --> 00:38:55,832
What's he what's this tech world doing for
him in these next generations?

698
00:38:57,344 --> 00:39:03,579
It's like ~ these teenagers and ~ they're
so natural to use the tools

699
00:39:03,579 --> 00:39:08,023
and you know technologies. It's like
right-heading service and application

700
00:39:08,023 --> 00:39:11,246
use is like so natural. It's just simple
and that they just use it.

701
00:39:11,246 --> 00:39:15,329
And then, you know, the Chat GPT and Cloud
and this old AI tool,

702
00:39:15,329 --> 00:39:19,432
it's literally changing how they do the
study,

703
00:39:19,432 --> 00:39:22,375
how they find the answers, how they solve
the problems.

704
00:39:22,375 --> 00:39:25,668
So that became a like new normal.

705
00:39:25,668 --> 00:39:26,668
Like

706
00:39:26,126 --> 00:39:29,068
Don't you remember like back in like let's
say twenty,

707
00:39:29,068 --> 00:39:32,710
thirty years ago? We were like,

708
00:39:32,710 --> 00:39:35,461
what's my call? Not twenty, let's say
thirty years ago,

709
00:39:35,461 --> 00:39:37,593
for example, there was no smartphone,

710
00:39:37,593 --> 00:39:41,655
right? We use a pager or land light phone,

711
00:39:41,655 --> 00:39:47,498
right? But all of a sudden, iPhone
introduced on two thousand ~ seven and
eight,

712
00:39:47,498 --> 00:39:50,013
and that changed the whole, you know,

713
00:39:50,013 --> 00:39:53,282
perspective of how to use the internet and
then you know services.

714
00:39:54,178 --> 00:39:58,245
Th those kind of moments already happen ~
when ChatG the open

715
00:39:58,245 --> 00:40:03,384
AI introduced ChatGPT and the Mart
Teenager is actually adapted,

716
00:40:03,384 --> 00:40:05,037
like without having any problem.

717
00:40:05,037 --> 00:40:07,562
So that's the situation, like

718
00:40:09,304 --> 00:40:12,914
Do you think this will be an app based
world 'cause that's what we've been in?

719
00:40:12,914 --> 00:40:15,296
Or do you think we're gonna be off we're
gonna be off app,

720
00:40:15,296 --> 00:40:16,296
aren't we?

721
00:40:16,044 --> 00:40:22,736
Yeah. So again, like next week we're gonna
introduce the new way of ride hailing.

722
00:40:22,736 --> 00:40:27,947
Which means you're not gonna need your
application at all.

723
00:40:27,947 --> 00:40:30,098
So what I see, what I'm expecting,

724
00:40:30,098 --> 00:40:34,919
especially here in New York, San Francisco
and then those metropolitan cities here

725
00:40:34,919 --> 00:40:39,011
in the United States, ~ in five years I
would say people wouldn't

726
00:40:39,011 --> 00:40:41,391
use an application. You don't need
application.

727
00:40:41,391 --> 00:40:43,522
You just need to have a small agent.

728
00:40:43,712 --> 00:40:45,967
on your phone or on your computer,

729
00:40:45,967 --> 00:40:48,594
maybe on your body. You never know.

730
00:40:48,594 --> 00:40:51,712
But again, you won't use a application.

731
00:40:51,874 --> 00:40:57,116
How do you see what would be as simple as
~ maybe I'm wearing glasses,

732
00:40:57,116 --> 00:41:00,177
maybe it's something embedded in my brain
that Elon's worst?

733
00:41:00,046 --> 00:41:01,075
Yeah. Yeah.

734
00:41:01,517 --> 00:41:04,938
In our I can't comprehend just thinking of
it and it happening.

735
00:41:04,938 --> 00:41:08,560
How however it'll will it be as simple as,

736
00:41:08,560 --> 00:41:14,334
Hey, can you get me the best value ride
share that can take me from where

737
00:41:14,334 --> 00:41:15,842
I'm at now to this address?

738
00:41:16,408 --> 00:41:20,341
Right. So this is actually very passive
way of using your agent.

739
00:41:20,341 --> 00:41:24,024
You're actually asking to your agent,

740
00:41:24,024 --> 00:41:26,746
How can I go from A to B? Right?

741
00:41:26,746 --> 00:41:30,370
But your agent, you should not ask your
agent.

742
00:41:30,370 --> 00:41:33,142
Your agent should tell you, Hey Mark,

743
00:41:33,142 --> 00:41:37,836
you have a meeting with K four fifteen in
Manhattan Times Square.

744
00:41:37,836 --> 00:41:41,539
And now you're at the office on in
downtown.

745
00:41:41,539 --> 00:41:44,411
I think you gotta you gotta get a cat
right now.

746
00:41:44,411 --> 00:41:45,411
You gotta get a car.

747
00:41:45,802 --> 00:41:50,067
Do you omit a call? And then what you need
to do is just simply say yes,

748
00:41:50,067 --> 00:41:53,210
and then your car is on your doorstep.

749
00:41:53,210 --> 00:41:54,892
And then you go for the meeting.

750
00:41:54,892 --> 00:41:56,194
That's it.

751
00:41:58,552 --> 00:42:01,651
What's that world gonna look like from a
business owner from marketing

752
00:42:01,651 --> 00:42:04,268
and branding being the one that that
system selects?

753
00:42:05,720 --> 00:42:09,593
So this is actually a very, very ~
important question.

754
00:42:09,593 --> 00:42:14,497
~ by the time that people wouldn't carry ~
application,

755
00:42:14,497 --> 00:42:20,210
branding and marketing is not gonna not
gonna need it,

756
00:42:20,210 --> 00:42:26,827
I think. What kind of business can survive
with these kind of changes?

757
00:42:26,827 --> 00:42:31,992
You gotta have an infrastructure that AEI
cannot replace.

758
00:42:31,992 --> 00:42:34,574
On our case,

759
00:42:35,052 --> 00:42:37,183
We have largest driver network.

760
00:42:37,183 --> 00:42:40,746
This largest driver network cannot be
replaced.

761
00:42:40,746 --> 00:42:44,439
Even after A V became a new normal in this
industry,

762
00:42:44,439 --> 00:42:47,240
~ it's gonna take some time, like five
years,

763
00:42:47,240 --> 00:42:49,072
then ten years, to change all vehicles.

764
00:42:49,072 --> 00:42:51,944
We have billions and billions of vehicles
around the world.

765
00:42:51,944 --> 00:42:55,596
You cannot replace every vehicle to A V as
of yet.

766
00:42:55,596 --> 00:42:58,919
So while we are progressing into that
direction,

767
00:42:58,919 --> 00:43:03,202
~ it's it's gonna happen that way.

768
00:43:03,202 --> 00:43:04,202
And then

769
00:43:05,280 --> 00:43:08,213
Marketing and branding, your application
name,

770
00:43:08,213 --> 00:43:11,637
it doesn't really matter. Like your skill,

771
00:43:11,637 --> 00:43:17,343
your agent, you need to actually build the
right message or right hook

772
00:43:17,664 --> 00:43:21,227
for the agent to find you your service
well.

773
00:43:21,227 --> 00:43:26,753
It's like different level of marketing on
different level of let's say connecting.

774
00:43:27,542 --> 00:43:32,701
How are we gonna get to know how is my
agent gonna get to know that agent that
then

775
00:43:32,701 --> 00:43:36,448
makes the decision that that's the ride
share or the card that shows up to get me?

776
00:43:37,486 --> 00:43:39,087
So again, like here's the thing.

777
00:43:39,087 --> 00:43:44,291
~ you your agent knows your preference.

778
00:43:44,291 --> 00:43:48,895
You prefer, let's say, even if it's
expensive,

779
00:43:48,895 --> 00:43:53,179
I I prefer the privacy. I wanna A V.

780
00:43:53,179 --> 00:43:55,561
Then your agent will call way more.

781
00:43:55,561 --> 00:43:59,764
Right? And my agent in on the other hand,

782
00:43:59,764 --> 00:44:02,026
I don't care those kind of things.

783
00:44:02,026 --> 00:44:05,039
I need to save money. So give me a
cheapest,

784
00:44:05,039 --> 00:44:06,740
but with the decent quality.

785
00:44:07,938 --> 00:44:10,849
Like now, like we're sharing the driver
pool together with the big giants,

786
00:44:10,849 --> 00:44:13,360
right? So then our service is cheaper,

787
00:44:13,360 --> 00:44:17,771
but quality is the same. Then my agent is
like looking for those options

788
00:44:17,771 --> 00:44:21,202
and then give me the option of our service
through and ta da,

789
00:44:21,202 --> 00:44:23,882
and then I can just use that service.

790
00:44:23,882 --> 00:44:28,384
So again, our question ~ is

791
00:44:28,384 --> 00:44:34,465
is more like our view ~ and our question
is actually based

792
00:44:34,465 --> 00:44:36,236
on our knowledge and experience.

793
00:44:36,684 --> 00:44:40,076
what your question is actually we are
actually asking to the question

794
00:44:40,076 --> 00:44:43,068
and then to agent and then can you do this
for me?

795
00:44:43,068 --> 00:44:48,352
Can you do that for me? That's actually
like very outdated question.

796
00:44:48,974 --> 00:44:49,974
Mm.

797
00:44:50,412 --> 00:44:55,926
Like our teenagers and then they are going
to use this Asian in a different way.

798
00:44:55,926 --> 00:44:57,948
They wouldn't even ask a question.

799
00:44:57,948 --> 00:45:03,553
Their Asian will ask question to them and
then it's going to be proactive Asian.

800
00:45:03,553 --> 00:45:04,874
That's gonna happen for sure.

801
00:45:05,430 --> 00:45:08,915
Hm. If it's not working off of a calendar
that you have input,

802
00:45:08,915 --> 00:45:11,198
is it do you think it's just gonna know
you?

803
00:45:11,198 --> 00:45:15,330
It's gonna know your habits. It's gonna
know you based on the location that you
are.

804
00:45:15,330 --> 00:45:16,396
It's just gonna know.

805
00:45:17,122 --> 00:45:19,014
Yeah, it's it's it's gonna know it.

806
00:45:19,014 --> 00:45:22,206
So even even now, even now,

807
00:45:22,206 --> 00:45:26,891
our service and those big giant service
users and and they do have a data,

808
00:45:26,891 --> 00:45:30,173
they know your pattern. Even now,

809
00:45:30,173 --> 00:45:31,173
right?

810
00:45:30,606 --> 00:45:31,606
That's

811
00:45:30,756 --> 00:45:33,465
what AI is. That's what AI started decades
ago,

812
00:45:33,465 --> 00:45:34,465
that's what AI was.

813
00:45:34,586 --> 00:45:36,127
Yeah, exactly. Machine learning.

814
00:45:36,127 --> 00:45:40,008
Machine learning is the is the beginning
and then now Neuralink,

815
00:45:40,008 --> 00:45:45,069
like the high throughput is actually
changing the whole experience now right
now.

816
00:45:45,069 --> 00:45:51,501
So I mean it's gonna it's gonna happen.

817
00:45:51,501 --> 00:45:53,252
You can't you can't deny this.

818
00:45:53,252 --> 00:45:58,993
It's it's ~ but one thing for sure is if
you embrace this hundred percent,

819
00:45:58,993 --> 00:46:00,894
your life is going to be much easier.

820
00:46:01,806 --> 00:46:04,468
So what do you think then I then I'm
thinking about a business owner?

821
00:46:04,468 --> 00:46:09,681
Then the ones who are gonna win are the
ones who are correct on predicting what

822
00:46:09,681 --> 00:46:14,995
the future is. And then build right then
right and then building a business for it.

823
00:46:15,593 --> 00:46:16,593
Right. Yeah.

824
00:46:16,456 --> 00:46:17,897
Right? You could do that, yeah.

825
00:46:17,897 --> 00:46:21,619
So so No,

826
00:46:21,619 --> 00:46:23,841
g go ahead with it. Take that idea.

827
00:46:23,841 --> 00:46:25,512
Is that is that the business owner's gonna
win?

828
00:46:25,512 --> 00:46:29,565
We're gonna have to be good at prediction
models to say we think consumer

829
00:46:29,565 --> 00:46:31,146
and human behavior is here because

830
00:46:31,372 --> 00:46:36,445
What Steve Jobs said when he was building
products and Apple products,

831
00:46:36,445 --> 00:46:40,298
I remember he was talking to his was it
Johnny Ivier?

832
00:46:40,298 --> 00:46:43,890
Yeah. He said he would go and talk to him
and he would say,

833
00:46:43,890 --> 00:46:46,612
We're not solving for what humans tell us
they want.

834
00:46:46,612 --> 00:46:49,524
I'm solving for what they don't know they
want yet.

835
00:46:50,016 --> 00:46:55,219
Exactly. Yeah. Exactly. Yeah. That's the
that's the the way that

836
00:46:55,219 --> 00:46:57,791
you can actually make the ~ like really,

837
00:46:57,791 --> 00:47:03,834
really enormous change. But as a as a
small potato entrepreneur,

838
00:47:03,834 --> 00:47:06,426
I'm trying to solve the core problem,

839
00:47:06,426 --> 00:47:11,379
~ like known problems first. And then
while I'm solving this known problem,

840
00:47:11,379 --> 00:47:14,661
s then I was actually thinking a hey,

841
00:47:14,661 --> 00:47:16,992
like what would happen in five years
later.

842
00:47:18,094 --> 00:47:22,517
So that's why like I was explaining you
that that this Asian hailing Asian thing

843
00:47:22,517 --> 00:47:25,258
is going to change the whole experience of
people.

844
00:47:25,258 --> 00:47:30,181
And then I'm telling to my team members
that like now we're caring about

845
00:47:30,181 --> 00:47:34,404
our brand design and our application
design or whatever it is,

846
00:47:34,404 --> 00:47:37,716
but five years later it's going to be
obsolete.

847
00:47:37,716 --> 00:47:40,257
Like no one's gonna use it. Maybe ~
grandpa,

848
00:47:40,257 --> 00:47:42,268
grandma are gonna use your application,

849
00:47:42,268 --> 00:47:45,130
but those teenagers, they wouldn't.

850
00:47:45,762 --> 00:47:47,233
Yeah. What do you think will happen?

851
00:47:47,233 --> 00:47:48,584
Me being in the real estate business,

852
00:47:48,584 --> 00:47:49,864
talking about entrepreneurship.

853
00:47:49,864 --> 00:47:52,898
So do you do you own a home right now,

854
00:47:52,898 --> 00:47:54,709
a family home? Do you all own or do you
rent?

855
00:47:54,709 --> 00:47:55,830
Is that okay? Is that too personal?

856
00:47:57,162 --> 00:47:58,948
no it's okay. So but I don't own the S

857
00:47:59,523 --> 00:48:02,215
She you rent. If you were gonna buy an
apartment,

858
00:48:02,215 --> 00:48:03,531
if you were going to

859
00:48:04,280 --> 00:48:05,280
Mm-hmm.

860
00:48:05,762 --> 00:48:07,457
How would you start that process?

861
00:48:08,874 --> 00:48:15,397
I I was very simple. So even now I'm gonna
ask I have actually six different agents.

862
00:48:15,397 --> 00:48:20,739
I do the six different jobs. So I'm gonna
do my ~ the chip of step agent.

863
00:48:20,739 --> 00:48:24,101
So gonna start like this.

864
00:48:24,101 --> 00:48:27,503
Sora, I need I need a house ~ in New York,

865
00:48:27,503 --> 00:48:31,705
but I also need to ~ have an a good ac
education access,

866
00:48:31,705 --> 00:48:34,646
but also I I'm looking for the safe area.

867
00:48:35,458 --> 00:48:39,510
Like all those kind of criteria I give to
my agent and my agent gonna sort

868
00:48:39,510 --> 00:48:41,681
the information out and then give it to
me.

869
00:48:41,681 --> 00:48:45,852
Right? But as of now, those kind of let's
say platforms,

870
00:48:45,852 --> 00:48:47,523
they don't share the information.

871
00:48:47,970 --> 00:48:48,970
Mm-hmm.

872
00:48:48,503 --> 00:48:51,445
There's no data that they can actually
pull easily.

873
00:48:51,445 --> 00:48:55,826
So as of now, this agent ~ usage may not
work,

874
00:48:55,826 --> 00:49:00,939
but at the certain level that I can get
starting information.

875
00:49:00,939 --> 00:49:02,589
And then based on this information,

876
00:49:02,589 --> 00:49:03,810
as of now, I would

877
00:49:04,640 --> 00:49:09,174
ask you, hey Mark, so I got this
information and these areas is actually

878
00:49:09,174 --> 00:49:11,736
my you know, my candidate area.

879
00:49:11,736 --> 00:49:15,619
So can you help to ~ search for or good
horse for me?

880
00:49:15,619 --> 00:49:18,201
Then that's how I'm going to do right now.

881
00:49:18,201 --> 00:49:22,477
But let's say five years later and even
more years later,

882
00:49:22,477 --> 00:49:25,968
let's say you, Mark, as a industry player,

883
00:49:25,968 --> 00:49:29,130
you build this ~ infrastructure database.

884
00:49:29,130 --> 00:49:33,274
You allow this database to be plugged in

885
00:49:33,826 --> 00:49:37,089
by those AI engines. Right?

886
00:49:37,089 --> 00:49:40,493
Then these AI engines can do much more
job.

887
00:49:40,493 --> 00:49:43,776
But you as an infrastructure provider,

888
00:49:43,776 --> 00:49:46,639
you don't even need to ~ answer the call.

889
00:49:46,639 --> 00:49:50,093
Your engine, your infrastructure gonna do
the job for you.

890
00:49:50,093 --> 00:49:52,045
Mm-hmm. That's the future thing.

891
00:49:52,045 --> 00:49:53,106
You gotta build that up.

892
00:49:53,442 --> 00:49:56,348
Yep, so at what point do you think we
interact as humans in that?

893
00:49:56,348 --> 00:49:59,015
The future, well not right now.

894
00:49:59,015 --> 00:50:02,282
In in five or ten years, at what point
does the human touch the human?

895
00:50:03,586 --> 00:50:04,586
The deal closing.

896
00:50:07,224 --> 00:50:10,155
That very, very delicate you know,

897
00:50:10,155 --> 00:50:16,358
neance and ~ you know communication that
can only be done by human.

898
00:50:16,358 --> 00:50:20,620
The closing the deal is going to be
carried by human for sure.

899
00:50:20,620 --> 00:50:25,302
But the whole process can be done by agent
and the AI.

900
00:50:26,870 --> 00:50:29,367
So good. Through your entrepreneurial
journey,

901
00:50:29,367 --> 00:50:32,445
we talked about earlier why you weren't
gonna quit and the inspiration behind

902
00:50:32,445 --> 00:50:34,210
it and the whys and stuff. ~

903
00:50:36,396 --> 00:50:39,147
What do you what's the where does your
purpose come from?

904
00:50:39,147 --> 00:50:40,738
I know you said you want to give more
money back,

905
00:50:40,738 --> 00:50:44,300
but this came from if we can't compete
with the big companies the

906
00:50:44,300 --> 00:50:47,211
way they're doing it, why? We have to do
something different.

907
00:50:47,211 --> 00:50:53,654
What was the driver for coming up with the
idea to give almost

908
00:50:53,654 --> 00:50:55,255
all the money back to drivers?

909
00:50:55,255 --> 00:50:57,936
Was it just because we need to do that to
be different to have

910
00:50:57,936 --> 00:51:01,498
a business that succeeds? Or was there
something else?

911
00:51:03,340 --> 00:51:08,234
Well so I would say yes for what you just
said,

912
00:51:08,234 --> 00:51:10,496
but but that's not the core reason.

913
00:51:10,496 --> 00:51:14,919
What I would say ~ is I don't know,

914
00:51:14,919 --> 00:51:16,841
it's maybe I'm too sentimental,

915
00:51:16,841 --> 00:51:19,143
but okay.

916
00:51:19,455 --> 00:51:20,455
That's it. ~

917
00:51:20,644 --> 00:51:25,418
Yeah, okay. So so I I don't know,

918
00:51:25,418 --> 00:51:30,292
like but I personally ~ prefer to

919
00:51:30,532 --> 00:51:32,974
~ make people around me

920
00:51:33,208 --> 00:51:36,599
To be rich. So now I have, for example,

921
00:51:36,599 --> 00:51:38,600
here in New York, I in my pocket,

922
00:51:38,600 --> 00:51:42,582
like my friends and drivers, like 50,000
drivers on my pocket.

923
00:51:42,582 --> 00:51:47,384
I want them to be rich. So whenever I go
to JFK,

924
00:51:47,384 --> 00:51:49,715
JFK parking lot, and then I talk to,

925
00:51:49,715 --> 00:51:54,177
hey Jimmy, I'm here. Like you made a lot
of money last week,

926
00:51:54,177 --> 00:51:58,289
so you bought me a sandwich. That's what
I'm looking for.

927
00:51:58,289 --> 00:52:01,218
This is a human relationship. This cannot
be replaced by AI.

928
00:52:01,838 --> 00:52:04,661
So these kind of relationships that are
valued the most.

929
00:52:04,661 --> 00:52:08,805
So that to make this relationship is ~ you
know abundant,

930
00:52:08,805 --> 00:52:11,067
you gotta help them to be rich.

931
00:52:11,067 --> 00:52:17,174
Then if you do the job or you if you

932
00:52:17,174 --> 00:52:18,975
run the business like typical way,

933
00:52:18,975 --> 00:52:20,697
you cannot make them rich sooner.

934
00:52:20,697 --> 00:52:25,312
Right? You gotta go extreme. So that's why
like I give everything to them.

935
00:52:26,338 --> 00:52:28,479
Hm. Do people think you're crazy?

936
00:52:29,432 --> 00:52:34,435
They do, yeah. And sometimes ~ actually at
the beginning stage of

937
00:52:34,515 --> 00:52:36,801
our our opening service of each cities,

938
00:52:36,801 --> 00:52:38,666
they see me as a scammer.

939
00:52:42,223 --> 00:52:44,894
It's very typical. It's the very typical
reaction.

940
00:52:44,894 --> 00:52:46,856
Jero Person Commission is too good to be
true,

941
00:52:46,856 --> 00:52:49,799
right? Everybody thinks that like,

942
00:52:49,799 --> 00:52:51,810
~ Jero Person Commission? Hmm.

943
00:52:51,810 --> 00:52:54,432
Sounds suspicious. Sounds fissy.

944
00:52:54,432 --> 00:52:58,735
And then they're like, they're gonna
change their their policy once they gain
the,

945
00:52:58,735 --> 00:53:01,898
you know, traction. Which we did not.

946
00:53:01,898 --> 00:53:02,898
Yeah.

947
00:53:03,458 --> 00:53:06,974
Hmm. Who's your this Jimmy? Is that one of
your biggest success stories?

948
00:53:06,974 --> 00:53:07,992
Is that one of your friends now?

949
00:53:07,992 --> 00:53:10,530
Is that a real guy? Or is that somebody
made up right now?

950
00:53:10,960 --> 00:53:13,449
It's a it's a real guy. Real guy in
Singapore.

951
00:53:13,449 --> 00:53:14,449
Yeah.

952
00:53:14,190 --> 00:53:16,741
Hmm. Hmm. He needs to give you
testimonials.

953
00:53:16,741 --> 00:53:20,313
He needs to document. I'm sure you're
doing that with these fifty thousand
drivers.

954
00:53:20,313 --> 00:53:22,374
You're having them set you're having them
say,

955
00:53:22,374 --> 00:53:24,154
like, hey, why does this make sense?

956
00:53:24,154 --> 00:53:25,475
Why have you appreciated this?

957
00:53:25,475 --> 00:53:26,996
How has this helped versus right?

958
00:53:26,996 --> 00:53:29,537
I mean that that's how you're gonna you
have to have these receipts to carry

959
00:53:29,537 --> 00:53:32,148
out in the world to say, No, I actually
have receipts from what I've done.

960
00:53:32,834 --> 00:53:38,379
Yeah. So I do actually ~ I did interview
many of drivers here in New York

961
00:53:38,379 --> 00:53:41,342
and at JFK parking lot and LaGuardia
Airport parking lot.

962
00:53:41,342 --> 00:53:46,427
So I interviewed them and then they gave
their perspectives and then they
appreciate

963
00:53:46,427 --> 00:53:50,470
what we are trying to do. But now like we
are in the in the in

964
00:53:50,470 --> 00:53:53,333
the timing of delivering the real result,

965
00:53:53,333 --> 00:53:56,896
like ~ attracting more users and the
demand for the drivers.

966
00:53:56,896 --> 00:53:58,514
And then ~

967
00:53:59,926 --> 00:54:03,557
While there are some drivers appreciating
what we are doing and then also some

968
00:54:03,557 --> 00:54:05,108
drivers also complaining as well.

969
00:54:05,108 --> 00:54:07,128
So that's actually a very normal process.

970
00:54:07,128 --> 00:54:11,360
So at the beginning stage, zero percent
commission is actually very much promising

971
00:54:11,360 --> 00:54:13,350
for them and then drivers are joining the
platform.

972
00:54:13,350 --> 00:54:15,301
And then after opening the service,

973
00:54:15,301 --> 00:54:18,212
we are not buying cash. So demand is not
gonna come like,

974
00:54:18,212 --> 00:54:20,092
you know, enormously at the beginning.

975
00:54:20,092 --> 00:54:23,783
So then drivers actually start having a
question and then start complaining.

976
00:54:23,783 --> 00:54:25,454
And then somehow

977
00:54:26,008 --> 00:54:31,196
People start trying one and two and three
and hundred and then it's actually start

978
00:54:31,196 --> 00:54:34,551
taking off. And then drivers actually
start believing it.

979
00:54:34,551 --> 00:54:38,136
And then that we grow even further.

980
00:54:38,136 --> 00:54:41,442
So that's how so every market we we do
this way.

981
00:54:41,442 --> 00:54:42,442
Yeah.

982
00:54:42,188 --> 00:54:45,145
Yeah. How many rides are you is this
something 'cause it's private.

983
00:54:45,145 --> 00:54:48,155
Do you talk how many rides have you
already had in two thousand twenty six?

984
00:54:48,155 --> 00:54:49,176
Do you talk about these numbers?

985
00:54:49,176 --> 00:54:50,378
Do you keep that private?

986
00:54:50,508 --> 00:54:52,740
Two well, two thousand twenty six,

987
00:54:52,740 --> 00:54:57,062
like what, it's like a couple couple tens,

988
00:54:57,062 --> 00:55:01,465
hundreds of millions? So quite a lot of
trips we did overall,

989
00:55:01,465 --> 00:55:02,465
like a whole world.

990
00:55:02,902 --> 00:55:05,918
Yeah. So you already you're you're
developing the receipts and the proof that
hey,

991
00:55:05,918 --> 00:55:06,918
this really works.

992
00:55:07,158 --> 00:55:09,948
Yeah, it is. Yeah. So the whole model is
really working.

993
00:55:09,948 --> 00:55:10,948
Yeah.

994
00:55:10,412 --> 00:55:15,233
Yeah. So your biggest unlock now is
signing up drivers to the platform,

995
00:55:15,233 --> 00:55:17,068
correct? Like that's the marketing push.

996
00:55:18,004 --> 00:55:22,757
Right. So that's actually relatively easy
job.

997
00:55:22,757 --> 00:55:27,601
But that next one is actually convincing
riders to come to our platform.

998
00:55:27,601 --> 00:55:32,544
Cause drivers, you know, when you are when
you are having a headache,

999
00:55:32,544 --> 00:55:35,306
you immediately think that, I need a
tyranny,

1000
00:55:35,306 --> 00:55:39,469
right? So we're actually giving the
painkiller to our drivers.

1001
00:55:39,469 --> 00:55:42,071
Jeroperson Commission is actually a very
good,

1002
00:55:42,071 --> 00:55:44,012
extremely good painkiller for them.

1003
00:55:44,012 --> 00:55:46,644
But riders, jero person commission for
what?

1004
00:55:47,106 --> 00:55:51,430
What am I getting? Correct. So we need to
actually explain them.

1005
00:55:51,430 --> 00:55:54,353
Because of zero zero percent commission,

1006
00:55:54,353 --> 00:55:56,836
we can lower the fare like twenty percent.

1007
00:55:56,836 --> 00:55:58,958
You can save, let's say, ten dollar,

1008
00:55:58,958 --> 00:56:01,601
twenty dollar for your martini tonight.

1009
00:56:01,601 --> 00:56:04,364
Then they need to try the service,

1010
00:56:04,364 --> 00:56:06,676
right? So that needed time.

1011
00:56:08,300 --> 00:56:13,009
Are there drivers who will use and work on
multiple platforms?

1012
00:56:13,009 --> 00:56:16,836
Can they do it? Is it illegal for what the
agreements they sign for these other

1013
00:56:16,836 --> 00:56:20,854
if they drive so they they can they can
drive for all the platforms?

1014
00:56:21,376 --> 00:56:23,807
Of course, of course. We don't force
anybody.

1015
00:56:23,807 --> 00:56:28,750
It's a open platform. If you don't wanna
work with us,

1016
00:56:28,750 --> 00:56:31,661
that's totally fine. If you wanna work for
the other platform,

1017
00:56:31,661 --> 00:56:34,112
that's totally fine. If you wanna work for
both,

1018
00:56:34,112 --> 00:56:36,324
totally fine. It's a free market,

1019
00:56:36,324 --> 00:56:37,324
yeah.

1020
00:56:37,614 --> 00:56:42,340
Hm. What do you think the response is
going to be from your SWOT analysis?

1021
00:56:42,340 --> 00:56:44,392
What do you think the response is from the
big players?

1022
00:56:44,392 --> 00:56:47,676
They have all their money. What's their
defense mechanism?

1023
00:56:47,676 --> 00:56:50,740
What what do you think they do and react
as you continue to grow?

1024
00:56:51,694 --> 00:56:55,775
~ what they are gonna do is ~ two things.

1025
00:56:55,775 --> 00:57:00,877
First immediate thing is they're spending
money to slow down

1026
00:57:00,877 --> 00:57:05,648
our acquisition of demand. So make people
believing that their price

1027
00:57:05,648 --> 00:57:08,459
is relatively cheap or similar like us.

1028
00:57:08,459 --> 00:57:12,080
So that's the like one of their tactics
for sure.

1029
00:57:12,080 --> 00:57:18,282
And second one ~ is going to be they're
gonna play with the pricing.

1030
00:57:21,282 --> 00:57:23,964
You know, back in we're I'm here in
Cincinnati.

1031
00:57:23,964 --> 00:57:26,346
It's in Ohio, where Ohio and Kentucky come
together.

1032
00:57:26,346 --> 00:57:31,010
Mm-hmm. We had this same thing happen in
the nineteen nineties.

1033
00:57:31,010 --> 00:57:33,091
So we had an it in the airline business.

1034
00:57:33,091 --> 00:57:35,023
Sure. It's proven everybody can go out
there.

1035
00:57:35,023 --> 00:57:37,655
So there was the biggest, the largest
regional carrier,

1036
00:57:37,655 --> 00:57:40,497
regional airline, the entire country was a
company called Com Air.

1037
00:57:40,497 --> 00:57:42,038
I don't know if you know the story.

1038
00:57:42,038 --> 00:57:45,651
And and so Com Air was out of C BG,

1039
00:57:45,651 --> 00:57:46,712
and because of that

1040
00:57:46,998 --> 00:57:48,300
At some point in the nineties,

1041
00:57:48,300 --> 00:57:50,012
I believe, that the Cincinnati,

1042
00:57:50,012 --> 00:57:54,449
Northern Kentucky International Airport
had more flights than any other airport

1043
00:57:54,449 --> 00:57:56,912
in the country before Atlanta took yes.

1044
00:57:56,912 --> 00:58:00,768
So then Delta acquired Calm Air.

1045
00:58:03,052 --> 00:58:06,442
And then because of that, then they
dominated,

1046
00:58:06,442 --> 00:58:09,824
I think something like 70 or 80% of the
flights coming out.

1047
00:58:09,824 --> 00:58:12,305
And then they acquired Northwest Airlines.

1048
00:58:12,305 --> 00:58:15,086
And so then Cincinnati stopped becoming a
hub.

1049
00:58:15,086 --> 00:58:19,297
Northwest became a hub or Minneapolis
became a hub because that's where

1050
00:58:19,297 --> 00:58:21,468
~ Northwest was out of, and then Atlanta
was.

1051
00:58:21,468 --> 00:58:24,228
And then they reduced and cut a ton of
flights.

1052
00:58:24,228 --> 00:58:26,729
But here's what happened though in the
early 2000s.

1053
00:58:26,729 --> 00:58:29,170
Every time a discount airline

1054
00:58:30,242 --> 00:58:33,104
Would try to come into Cincinnati and
start flights,

1055
00:58:33,104 --> 00:58:35,987
Delta would slash their prices on the same
routes.

1056
00:58:35,987 --> 00:58:36,987
Yeah.

1057
00:58:36,715 --> 00:58:37,715
Exactly. Yeah.

1058
00:58:37,668 --> 00:58:39,530
Right? And so it was all temporary.

1059
00:58:39,530 --> 00:58:43,433
It was all temporary. And it's a it's a
disaster from consumers because then

1060
00:58:43,433 --> 00:58:47,407
the moment that the discount operator
airline had to shut down,

1061
00:58:47,407 --> 00:58:49,118
what do you think Delta did with their
prices then?

1062
00:58:49,118 --> 00:58:54,533
That's it. 100%. So the model for the
discount airline said,

1063
00:58:54,533 --> 00:58:56,915
let me always be a discount alternative
for you,

1064
00:58:56,915 --> 00:58:58,446
the consumer. If we survive.

1065
00:58:58,680 --> 00:59:01,924
We're gonna balance it. Not only are we
gonna give you a better option,

1066
00:59:01,924 --> 00:59:04,064
Delta's gonna have to bring their prices
down some.

1067
00:59:04,280 --> 00:59:05,417
Yeah. Right.

1068
00:59:06,072 --> 00:59:07,814
So I don't know if that's similar to what
we're talking about,

1069
00:59:07,814 --> 00:59:09,345
what they'll try to do, but I'm sure it
is.

1070
00:59:10,102 --> 00:59:13,746
It is the same thing, but the point is we
can survive.

1071
00:59:13,746 --> 00:59:17,651
The point your story point was they didn't
survive.

1072
00:59:17,651 --> 00:59:20,875
If they managed to survive,

1073
00:59:20,875 --> 00:59:24,719
it w it would have been a different story.

1074
00:59:24,719 --> 00:59:26,782
Delta cannot do it forever.

1075
00:59:27,630 --> 00:59:30,219
Corrected now and now yeah, now there's
Frontier,

1076
00:59:30,219 --> 00:59:32,206
now there's Allegiant, now there's South
West.

1077
00:59:32,206 --> 00:59:34,464
So eventually consumers won.

1078
00:59:35,244 --> 00:59:38,676
Mm-hmm. Yep. That's right. Yeah.

1079
00:59:38,676 --> 00:59:44,130
That's why we are ~ you know, putting
ourselves into the center of as

1080
00:59:44,130 --> 00:59:49,714
a network and infrastructure. So as long
as we manage our operation lean

1081
00:59:49,714 --> 00:59:53,547
and efficient, but also at the same time
those convincing the drivers

1082
00:59:53,547 --> 00:59:57,470
as a network owner together, we're not
gonna die.

1083
00:59:58,316 --> 01:00:01,352
Yeah. So good. So right now in this
country,

1084
01:00:01,352 --> 01:00:03,196
anybody who wants to use Tata,

1085
01:00:03,196 --> 01:00:06,252
can we just use it where? Just in New York
City and Denver right now?

1086
01:00:07,222 --> 01:00:12,065
Right. So now New York City is through
Denver or through users can use it as
well.

1087
01:00:12,065 --> 01:00:17,529
~ we're looking into ~ expansion for
fourth quarter into ~

1088
01:00:17,950 --> 01:00:20,441
D C and Philadelphia and Boston.

1089
01:00:20,441 --> 01:00:23,934
We are looking into it and then we're
applying the license right now.

1090
01:00:23,934 --> 01:00:24,934
Yeah.

1091
01:00:24,974 --> 01:00:25,974
Okay, so it's coming.

1092
01:00:26,530 --> 01:00:27,530
Yeah, it is coming.

1093
01:00:28,174 --> 01:00:31,386
Okay. So so right now you can download the
through app in Denver and

1094
01:00:31,386 --> 01:00:33,817
New York City and use it and engage with
your company right now.

1095
01:00:34,370 --> 01:00:35,370
Yes, that's right.

1096
01:00:35,559 --> 01:00:37,380
Okay. And then in the fourth quarter,

1097
01:00:37,380 --> 01:00:41,252
third and fourth quarter, when they come
to D C and Boston,

1098
01:00:41,252 --> 01:00:42,298
when they come to those cities,

1099
01:00:42,298 --> 01:00:44,483
will it be instant, right? The moment that
you launch,

1100
01:00:44,483 --> 01:00:45,925
download the app, use it there.

1101
01:00:45,925 --> 01:00:48,286
And it'll feel from a consumer standpoint,

1102
01:00:48,286 --> 01:00:51,198
we can usually, based on what we used to
pay,

1103
01:00:51,198 --> 01:00:53,790
because the big boys might they might
drive down prices,

1104
01:00:53,790 --> 01:00:54,790
but

1105
01:00:54,168 --> 01:00:55,576
But based on what we used to pay,

1106
01:00:55,576 --> 01:00:58,261
it'll look like it's more favorable and
more affordable for us.

1107
01:00:58,838 --> 01:01:00,800
Exactly. Yeah, it's gonna happen that way.

1108
01:01:00,800 --> 01:01:04,863
~ so before opening service,

1109
01:01:04,863 --> 01:01:07,645
so the here's the process. We apply for
the license,

1110
01:01:07,645 --> 01:01:10,177
we get the license. While I'm getting the
license,

1111
01:01:10,177 --> 01:01:13,930
what I do is actually I'll go to DC and
then start talking to drivers.

1112
01:01:13,930 --> 01:01:18,274
Like maybe a month. DC should be a month
should be good enough.

1113
01:01:18,274 --> 01:01:22,588
And then make everybody's ready and the
driver's ready and then once

1114
01:01:22,588 --> 01:01:27,041
we open service then it's just happening
like full of months.

1115
01:01:27,041 --> 01:01:28,041
Yeah. All right.

1116
01:01:28,066 --> 01:01:32,547
So here's a so here's a a question that a
a pointed question about

1117
01:01:32,687 --> 01:01:35,168
the future of this. So as a consumer,

1118
01:01:35,168 --> 01:01:36,408
let's say we download through,

1119
01:01:36,408 --> 01:01:40,339
we're using the through app. At some point
you gain market share of eight

1120
01:01:40,339 --> 01:01:42,670
to ten to fifteen percent. Mm-hmm.

1121
01:01:42,670 --> 01:01:45,091
What drivers said, hey, it's all great
now,

1122
01:01:45,091 --> 01:01:46,711
but you're gonna take it back in the
future.

1123
01:01:46,711 --> 01:01:52,333
Now as consumers, how can we have the
confidence that then

1124
01:01:53,093 --> 01:01:56,294
the prices don't then go up once you've
established,

1125
01:01:56,294 --> 01:01:57,294
once we're bought in?

1126
01:01:57,410 --> 01:02:00,231
that all of a sudden you don't change from
being a good,

1127
01:02:00,231 --> 01:02:03,653
better option for us to look similar to
the other providers.

1128
01:02:04,568 --> 01:02:05,568
Wow.

1129
01:02:07,554 --> 01:02:12,088
The promise would be good enough to
convince people that I promise

1130
01:02:12,088 --> 01:02:13,869
you we're not gonna raise the price.

1131
01:02:13,869 --> 01:02:15,911
This is it's it's just simple words,

1132
01:02:15,911 --> 01:02:20,115
right? But what we're trying to do is
actually we record all this information
into

1133
01:02:20,115 --> 01:02:24,368
blockchain. Once you implement this into
the let's say smart contract

1134
01:02:24,368 --> 01:02:29,292
and such information, it it cannot be
changed without having the public
consensus.

1135
01:02:29,292 --> 01:02:32,835
So those kind of ways that we can actually
implement into it.

1136
01:02:32,835 --> 01:02:35,638
So but again, like our past track record.

1137
01:02:35,854 --> 01:02:38,596
For example, like since two thousand you
know,

1138
01:02:38,596 --> 01:02:44,021
~ eighteen and until now, we're the
cheapest player in Singapore.

1139
01:02:44,021 --> 01:02:46,733
Yeah. And in all other region as well.

1140
01:02:46,733 --> 01:02:51,187
So we the point is like we don't have any
motivation to increase the price.

1141
01:02:51,187 --> 01:02:53,899
Cause we don't take cut of a percentage,

1142
01:02:53,899 --> 01:02:56,391
right? So increasing the price,

1143
01:02:56,391 --> 01:03:00,235
~ the motivation of increasing the price
is actually those big giant platforms.

1144
01:03:00,235 --> 01:03:03,978
They do have a lot because they need to
take a lot of commission.

1145
01:03:04,398 --> 01:03:06,542
So that's the way they can actually make a
profit.

1146
01:03:06,542 --> 01:03:10,203
And then with that profit, they're gonna
buy a lot of A V and then they're gonna

1147
01:03:10,203 --> 01:03:11,203
dig the drivers.

1148
01:03:11,778 --> 01:03:14,063
Here you go. So the big question to wrap
this up,

1149
01:03:14,063 --> 01:03:16,448
even though you want people to go to the
website,

1150
01:03:16,448 --> 01:03:18,793
check out the app, even if it's not to
your city yet,

1151
01:03:18,793 --> 01:03:22,762
it's coming. ~ then how do you guys make
money?

1152
01:03:24,184 --> 01:03:29,689
Very good question. So every single
transaction of the trips there is

1153
01:03:29,689 --> 01:03:33,632
a small fixed fee. So fair below twenty
dollar,

1154
01:03:33,632 --> 01:03:35,944
for example, below twenty dollar fifty
cents,

1155
01:03:35,944 --> 01:03:37,566
fair above twenty dollar, one dollar.

1156
01:03:38,478 --> 01:03:39,478
That's that simple.

1157
01:03:43,254 --> 01:03:45,622
Makes sense why you have fifty thousand
new drivers.

1158
01:03:46,506 --> 01:03:47,506
Exactly. Yeah.

1159
01:03:48,184 --> 01:03:51,756
So good. all right, give us your final
sales pitch for drivers,

1160
01:03:51,756 --> 01:03:56,358
for consumers to use it, other than just
Kay just being such a nice guy,

1161
01:03:56,358 --> 01:03:58,540
other than he's not going to quit,

1162
01:03:58,540 --> 01:04:00,781
other than he's gonna fight and it's on
the blockchain and we're

1163
01:04:00,781 --> 01:04:05,553
not gonna change pricing. Give us the why
because what's so important now,

1164
01:04:05,553 --> 01:04:06,904
which we found with consumers,

1165
01:04:06,904 --> 01:04:13,278
Main Street businesses are becoming so
much more relevant and important

1166
01:04:13,278 --> 01:04:15,389
and valuable to us than Wall Street
businesses.

1167
01:04:15,389 --> 01:04:17,370
And so

1168
01:04:17,934 --> 01:04:20,756
Give us the pitch on why to engage,

1169
01:04:20,756 --> 01:04:27,002
participate, partner, ~ why you versus all
the other folks in the same business?

1170
01:04:28,746 --> 01:04:35,191
Okay, let me put it this way. if you care
your family,

1171
01:04:35,191 --> 01:04:39,555
your uncle or your father or your mother,

1172
01:04:39,555 --> 01:04:45,960
you need to actually be aware of what
you're using.

1173
01:04:45,960 --> 01:04:52,726
If you use one service that actually
extracting a lot of money from
contributors

1174
01:04:52,726 --> 01:04:55,448
pocket and then make themselves rich,

1175
01:04:55,448 --> 01:04:57,780
that's not gonna change the whole world.

1176
01:04:58,232 --> 01:05:01,084
That's gonna change only those rich
persons' life.

1177
01:05:01,084 --> 01:05:05,608
But if you manage to find the right
service,

1178
01:05:05,608 --> 01:05:08,811
but same quality of service that you're
gonna get,

1179
01:05:08,811 --> 01:05:12,334
but in a way you can actually support the
your uncle,

1180
01:05:12,334 --> 01:05:14,435
could be your uncle or your friend's
uncle.

1181
01:05:14,435 --> 01:05:19,079
Those people can also make a good living
and you can also enhance

1182
01:05:19,079 --> 01:05:21,301
the livelihood of those drivers.

1183
01:05:21,301 --> 01:05:23,583
Right? But also at the same time,

1184
01:05:23,583 --> 01:05:27,306
you can save. I win for everybody.

1185
01:05:29,036 --> 01:05:31,859
Hmm. All right. This is good. All right,

1186
01:05:31,859 --> 01:05:34,612
man. The ~ I'm pumped to watch it evolve.

1187
01:05:34,612 --> 01:05:36,234
I'm glad we finally got to talk.

1188
01:05:36,234 --> 01:05:39,428
We had trouble connecting, but ~ this is
good.

1189
01:05:39,428 --> 01:05:41,991
Is the best way to keep up with what's
happening with your company,

1190
01:05:41,991 --> 01:05:44,474
if you're not in our city, jump on your
website,

1191
01:05:44,474 --> 01:05:47,427
follow you on social. What's the best way
we can track what you're building

1192
01:05:47,427 --> 01:05:49,570
to watch when you're coming coming to one
of our cities?

1193
01:05:50,198 --> 01:05:56,551
Hm, so we do or we do have actually a
TikTok channel and then ~ X ~ account

1194
01:05:56,551 --> 01:06:01,173
and ~ Instagram channel. And actually I've
got ~ getting a lot

1195
01:06:01,173 --> 01:06:03,163
of messages from drivers from Chicago,

1196
01:06:03,163 --> 01:06:07,115
Minneapolis, and then what they're saying
is like can you bring our service

1197
01:06:07,115 --> 01:06:11,287
~ you know, Kay, can you bring your
service to my city and then I'm willing

1198
01:06:11,287 --> 01:06:14,058
to help you. So that's the message that
I'm getting.

1199
01:06:14,058 --> 01:06:16,069
So any drivers from your town,

1200
01:06:16,069 --> 01:06:18,010
for example, just let me know.

1201
01:06:18,010 --> 01:06:19,010
And then

1202
01:06:19,822 --> 01:06:21,330
For sure like we're gonna go there.

1203
01:06:21,330 --> 01:06:22,687
Hundred percent sure.

1204
01:06:23,326 --> 01:06:25,111
percent sure. Only to the big cities?

1205
01:06:25,111 --> 01:06:26,111
Only to the

1206
01:06:26,060 --> 01:06:28,262
No, it's not no, it's not only to the big
cities.

1207
01:06:28,262 --> 01:06:31,415
So now like New York is the very it's like
really,

1208
01:06:31,415 --> 01:06:33,096
really big is the challenge for us.

1209
01:06:33,096 --> 01:06:37,030
And after New York, expanding to other
cities and you know,

1210
01:06:37,030 --> 01:06:39,102
states is just only a matter of time.

1211
01:06:40,332 --> 01:06:43,103
Awesome. All right, man. I'm glad we
finally got to connect.

1212
01:06:43,103 --> 01:06:45,804
Much, much, much success on yeah,

1213
01:06:45,804 --> 01:06:48,454
much success on what you're building and
helping other people become wealthy

1214
01:06:48,454 --> 01:06:50,125
and developing more entrepreneurs.

1215
01:06:50,125 --> 01:06:51,835
And ~ good job sticking with it,

1216
01:06:51,835 --> 01:06:55,106
man. You you did something during that
during that period when it

1217
01:06:55,106 --> 01:06:57,767
was really hard and it looked like your
business couldn't survive.

1218
01:06:57,767 --> 01:07:00,248
~ kudos to your family, kudos to you,

1219
01:07:00,248 --> 01:07:04,409
your business partners, that you stuck
with it because every entrepreneur,

1220
01:07:04,409 --> 01:07:07,160
everyone I know goes through a moment like
that,

1221
01:07:07,160 --> 01:07:08,160
if not multiple.

1222
01:07:08,910 --> 01:07:11,024
Yeah. A lot wave the white flag a lot
quit,

1223
01:07:11,024 --> 01:07:14,951
but those that continue on, they end up
usually building something very beneficial

1224
01:07:14,951 --> 01:07:17,837
for them and their families, but then
building a special product

1225
01:07:17,837 --> 01:07:21,082
for the marketplace. So so kudos and a
high five for you sticking with

1226
01:07:21,082 --> 01:07:22,082
it and building this, man.

1227
01:07:22,446 --> 01:07:24,869
Sure. Thanks Mark. And I I I really,

1228
01:07:24,869 --> 01:07:27,152
really appreciate your ~ question.

1229
01:07:27,152 --> 01:07:30,976
This actually ~ I enjoyed this
conversation a lot.

1230
01:07:30,976 --> 01:07:33,079
And then you touched the very,

1231
01:07:33,079 --> 01:07:37,204
very you know, critical points of what I
have inside.

1232
01:07:37,204 --> 01:07:38,676
So I really appreciate

1233
01:07:39,086 --> 01:07:40,499
You're welcome, man. Thank you for taking
the time.

1234
01:07:40,499 --> 01:07:43,155
Now get back to work. We need this in
Minneapolis and Chicago.

1235
01:07:43,155 --> 01:07:45,140
All

1236
01:07:43,758 --> 01:07:44,960
Sure. Sounds good. All right.

1237
01:07:45,140 --> 01:07:46,140
right, man. Thank you.