LIVE: Reaction to .5 Cut, Building a Unique Edge in Your Fund, International Funds, | Day 3 Laun…

That's a lot of crime. Try to take it from me, must be out your mind. Big time, dollar sign. Smoky in the air, that's a lot of pine. Pockets running over with the dollar sign. Try to take it from me, yeah. Oh, big time, big time, big time. Big time. Big time. Hey, yo, welcome on. Welcome on day 3. Good to see everybody. Hello. Hello. What's going on, people? We're live. Here we are. We're going to talk today a lot about yesterday's rate cuts, 0.5% cut. We're looking at the market this morning, how markets have reacted, and we're talking a lot about funds today. We're going to talk about— and actually, I'd love to do some Q&A today, talk, answer your questions live, take whatever you got. So if you guys are here, type in the chat for me. Just type hello. Type hello in the chat. Let me just make sure this is working. Can you guys hear my mic okay? Is this like everything's on? What's going on, people? Get in the chat for me. By the way, this is live. I got to wait for some feedback here. All right. Max said hello. Mark, hello. Nicole, what's going on? Hello. Hello. All right, let me do this. I'm going to go fast just the first few minutes here while we're getting started, and then we'll review kind of last 2 days real quick, and then we will dive in. Does that sound good? So, let's do a review. Can you share my screen for me? So, 3-Day Launch Your Fun Challenge, we're on day 3, our final day. Should be pretty fun. So, reviewing the last 2 days, we've talked a lot about the MEGA framework. Today, we're going to pull out the iPad. We're going to go deep on a few of these things. Uh, and really dive into your funds. We talked about the 3 companies taking over the world. We talked about, uh, democratize Wall Street. We talked about the fund launch formula. Step 1, find great deals. 2, frame. 3, capital. And 4, legal. Legal is last, by the way, uh, on that. Why I like frameworks. These are some of the frameworks that we've, uh, we've touched on. Um, the 3 roles in every fund. You guys remember this? So we talked about the 3 roles and how to build those. Uh, we also talked about the waffle last night. But building out these 3 roles in your fund and who they are, how you can find these people, how do you attract them? How do you become a— the analogy we use is like dating. The easiest way to date a 10 is become a 10. Also be a 10. Uh, uh, there we, uh, today we're gonna talk a little about the 3 stages of raising capital. We have not talked about this yet, so here they are. Well, a little teaser for today. We're gonna talk about the capital raising matrix as well today. Uh, we'll come back to that. We're gonna talk about international feeder fund structures. Um, so we talked day 1 about syndications and funds. So we talked about both of these. Uh, this is the syndication version of a fund. So investing in your first business is the beginning phases of a private equity fund. Day trading is the beginning of being a hedge fund manager. Investing in a startup is the beginning of a venture capital fund. Private money lending is the beginning of a private credit fund. Buying one property is the beginning of a real estate fund. Um, some of these we may touch on today. We'll see how much time we have. What licenses do you need? We're gonna talk about building your edge, how that works out in your fund. We, day one, we talked about risk control return, uh, different Reg D fund types. We can talk about Reg A and Reg C. ETF fund types, all these different structures. We talked about the GPLP structure, uh, general partner management company, limited partnership, uh, uh, going from here, waterfall structures. We talked about how fund managers were paid, how much money fund managers can make. It's actually stupid. Uh, the Forbes 100 list, the number one, the number one career of billionaires on the Forbes list is investment fund management, is money management. Number two is tech, and I believe number three is fashion. This is the most lucrative vehicle on earth. Pick and be in the right vehicles. Be in the vehicle that you want to be in for a career, and and and then go after it. Be and swim in the right direction. Yesterday we talked about the fund waffle, building out your waffle and your team at the end of day yesterday. So type in the chat for me your top takeaway from yesterday or day one. What were things that stood out to you? We also livestreamed Jerome Powell. We piped him into this call, which was pretty fun. What's your top takeaway from yesterday? Type it in the chat for me. Any of those that were like aha moments or, oh, that shifted something for me, or that was worth my time to show up? I'll wait. I'll wait for the chat. This is a livestream, by the way. I'll wait. Any takeaways, top things that you kind of learned or were insightful? Anybody? Bueller? Hello? Type in the chat for me. Top takeaway. We just reviewed a bunch of stuff. We also talked about yesterday, obviously Black Card here. We mentioned this application fee. We had a bunch of you guys join an application fee. Um, we talked about this concept and actually today we're going to dive into this a little bit more of anyone can build legal docs. Okay. Anybody can build Buy the platter off the shelf. Anybody can, you know, go and just hire a lawyer to do legal docs. There's a big difference though between having legal docs and having a stinky fish or having like a beautiful Gordon Ramsay meal. Way different, right? Totally different message, right? Anybody can buy the platter. All of you right now could go hire a lawyer. This is the big difference. This is why we spend so much time and effort with Black Card, with our Community is how do we go out and build a beautiful, amazing dish that like investors are dying to have? Build a fund that investors want. A lot of us, any of us can go build, you know, a website. Does not guarantee that people are going to show up and buy stuff on your website, right? People think, oh, I have a fund, people should invest. And in reality, I go look at their fund and they got a stinky fish. Right? They got like huge, massively stinky fish. That's why they can't raise money. When in reality, if they spent the— the hard work is building out that beautiful, beautiful thing. The wrapper doesn't matter as much. Legal is the easiest part of this. When we talk about the Funnel Launch Formula, we put legal at the end. That's the easiest part, doing the legal docs. The hard part is in here. Step 1, doing a deal. 2, framing out. 3, capital. That's the hard part. Today we're gonna dive more into that, uh, from here. Um, uh, we also Just as review, we released the backend new portals of Black Card. If you guys have not seen Black Card before or seen it, we this is a full revamp of how we actually approach the fund launch formula. And maybe I'll do this actually. I'll mention this beginning and then we'll we'll kind of dive in today. I'm going to bounce back and forth a little bit. And what's up? I'm putting look in the chat here. Looking at syndication differently than a fund. Yeah, we went through that full model of syndication for funds. Some people weren't here yesterday, so there you go. Sorry about that if you weren't here. How you can start without your own capital. Okay, I love it. Thank you all. Okay, I'm gonna share my iPad here. Let's see if this works. So here we are again, building a fund that investors want. We talked about this, whatever phase you're in, the test phase, syndicate phase, or fund phase. But I'll mention this as well. So we talked about Black Card. We have this new full structure of Black Card. Black Card, by the way, we've had over 1,000 members go through Black Card. This is the ultimate service to launch your fund if you're serious about doing a fund. Black Card is the best on planet Earth about doing funds. We've launched over 300 funds out of Black Card. This is some screenshots of our new backend portal. This is kind of a little stack here. We have a full calendar, daily office hours. You meet with coaches kind of right here though. This is— this will summarize things for you if you missed. One-on-one calls with your personal account manager, daily office hours. You have 15 different coaches that help you on this advisor alumni and cohort message. You have 1,000 other people in your network here. As well. Number 2, that's your networking tribe. So we have a private Slack channel for it to easily communicate. 3 in-person events a year. We're actually going in a week and a half on a cruise in the Caribbean. Uh, all Black Card members are invited. And then we have cohorts that we work with as well over, uh, the next 12 to 18 months. Um, and then additionally, all the stuff you need to partner and build your fund. So we have strategic partnerships to build your fund waffle. Additionally, we actually pay for the full document setup for your entire fund, the US domestic fund, all like Usually that's $30,000, $40,000, $50,000. We pay for all that and then a full pitch deck design for your fund or syndication, all right there. So Black Card, as you guys know, is $30,000. Here it is. And actually, and we're doing a— this is the first time we've ever offered this. You actually can come and test drive Black Card. You can come into Black Card and beta test it until September 27th. That's the cutoff date. But September 27th, is your cutoff date, which anybody can come in, talk to the coaches, test drive this whole thing. You guys can come do this. Now, it's $30,000 to join. It's a one-time fee. It's a lifetime membership. And, uh, but we just actually released something new you can do on zero interest because of the rate cuts yesterday. We're doing something kind of cool. Zero interest. You can break it up $7,500 times 4. So 4 months, 4 payments over $7,500. Um, Black Card's a serious program. It's, it's not for tire kickers. It's not for whatever. But this is a— this is for serious people that want to go out and launch a fund. This is our flagship product at Fund Launch. This is— I mean, again, we've had over 1,000 people go through Black Card. This is a tried and tested product. It's amazing. Our community is fantastic. Over 1,000 fund managers here. You get Fund Launch 360, personal account manager, daily office hours, 3 in-person events, all this kind of stuff. So if you're interested in applying, how it works is you pay $99. You can apply to be in here. We're looking for only 11 people that want to come on the cruise with us and join Black Card fully. We've already had a few dozen people apply. We've actually kicked out a few people if they weren't the right fit. But if you are the right fit, right category, we've allowed— now we already have people testing out Black Card over the next— what is that? Next week, week and a half, something like that, to come and test out Black Card and be in this. We're so confident in this product, you're going to come in and you're going to absolutely love it. And if you don't love it, guess what? We'll just refund you the $99. So there's no risk to you. So that's how— that's kind of how we structure it. So to review, yesterday we talked about that a little bit. And it's been phenomenal. It's been actually really cool to see you guys' applications and everything come in. All right, with that, and Adam, Adam, my team, Adam Smith on our team, he's dropping stuff in the chat. You guys can click on there and go over there. All right, that's a little bit of review from the last few days. Let's talk about today. Let's let me go back here. So we had Supreme Leader Jerome Powell came, and you know he. Gave us some from from down on descended upon us dropped a a rate cut yesterday. This is the crux of what we've been talking about. Here's the Fed funds rate according to Fred. Look at a ten-year chart here. So they have not adjusted this yet, but it's dropped fifty basis points. The the the thing that they are trying to solve for right now: Can they cut rates without? Let me go to 1990 here. Can they cut rates without causing a recession? That's the big argument right now. These gray bars are recessions right here. In recent history, most times when they've cut rates, then a recession follows. See how they cut rates first, and then a recession came? They cut rates, and then a recession came. This time, they cut rates during the recession. We will see this. The market was trying to balance this. Jerome Powell, I actually think, gave a great speech yesterday. He has to walk a very tight line of saying, the economy is strong. What we're doing, we're great. We're just going to lower rates a little bit though. Even though it's strong, jobs are good, strong economy, we're going to help things a little bit. Usually what you're doing when you're cutting rates, you're signaling we have a weak economy. That's what you're signaling to the markets. We are cutting. And when you raise rates, you're signaling we have such a good economy, we can even raise rates. And so the market usually rallies. The one exception to this is 1995 right here. This is what Jerome Powell is trying to pull off. Can we lower rates and not cause a recession? This is a very fine balancing act. Yesterday during the press conference, and he did rightfully so, did not give a ton of insight onto further rate cuts. He said, hey, meeting by meeting, we'll decide. Incoming data will make decisions. He had one blip up though. The one, I think it was Steven from CNBC asked him. He said, what happens? You know what you have of the voting board? 19 people voted. 17 of them, if I recall correctly, I'm going off the top of my head, but he said 17 of them want 3 cuts this year. 10 of them want 4 cuts this year. And he goes, well, yeah, that's how they voted. And we had one dissenter that didn't want any cuts for this meeting. That's how we voted. And we'll see how that goes. And then he just went back and said, hey, but we're going to decide meeting by meeting. They put out the dot plot yesterday. If you look at the CME FedWatch tool, this is what the market is pricing in right now. The next meeting, 11/7 in November, there's a, let's call it, 57% to 42% chance they're both calling for cuts. And this would, or sorry, this would be no cut. And then this would be a cut here. So 42% chance of a cut in November. And then, and then, and this is how big the cuts would be. This is what the market is pricing in right now. Now, this changes every single day, so you can come check this out. This is how they're kind of pricing rate cuts down. This is the most probable course down. They're saying by the end of 2025, they're going to be about 3.5% was their dot plot they put out yesterday. So we'll see how that goes. Let's look how the market responded here. Let's go. Here's the S&P. Oh, where's my little, my little guy? I mean, nothing crazy up a point today. Not, not bad though. Yesterday it was kind of choppy. We had quite a jump up and it stayed up. It actually came up, came down for a little bit, and now it's actually stayed up. The market's responded well to, you know, to this news. Look at the Dow here. The last 5 days, quite a little, quite a little move here. And markets are responding well to this news and to the speech that he gave yesterday. So not bad. If you look over to crypto, I'm in the crypto markets. Crypto is on fire right now. I mean, this morning crypto has rallied quite a bit. Bitcoin up 9.1% over the last 7 days. And you can look down the board of, you know, these are the top, let's call them top 20, top 100 coins right here. Let me refresh this actually. Let's see if it's up to date here. So We'll see how things move. I estimate choppiness over the next little bit as the market prices in these rate cuts. But overall, the market has responded. I mean, look at Avalanche up 14% in 24 hours, Bitcoin Cash 11%. I mean, some of these big movers in just a day, FET up 16%. A lot of these moving quite a bit. And so yeah, pretty fun. All right. My take, and if you're looking for my summary, this is what I think. I think it is hard to have a crash. I said this yesterday. I think it's hard to crash when you're doing this, when you're spending $1 trillion every 100 days. Economists, I listened to economists, just 2 really well world-renowned economists 2 days ago. They both mentioned we are spending roughly 40 to 50% of our GDP is tied to government spending right now. I mean, that's insane. 40 to 50% of our GDP is tied directly to government spending. It is hard to have a crash when you have this much money entering the market. What's going to crash? I, for example, let's look at median home prices. This is going back, this is back to 2000. Let's even look at a 10-year chart or even a 5-year chart. Okay, let's look at like 10-year. Okay, so here we are. We had COVID, we had kind of an inflation come up here though. We started hiking rates. We have hiked rates for 4 years. The affordability of homes has been cut in half. It is literally 2 times as hard to buy a home today than it was back in 2020 because of where interest rates are at as far as, you know, a monthly payment, down payment, stuff like that. However, home prices haven't really fallen. Home prices have fallen, I think it's 8% on average. 9% over 4 years. I mean, home prices really haven't moved. They should. I agree. They should be down 30%. Home prices should be down 20%. They're not. And now with rate cuts, how many people do you know on the sidelines right now waiting for a rate cut? They are waiting for, you know, I'm waiting for rates to come down. I have dozens of friends right now tell Bridger, I've been saving up to buy a house. I'm just waiting for rates to come down. I'm like, you realize when rates come down, a bunch of bidders are now coming to the market and prices are going to go up. Like, you know, you realize that that's about to happen. It's happening right now. Uh, if I was going to, I mean, I actually just bought a house in July at the peak interest rates because it was a hard time to buy a house. Hence, there's not a lot of bidders. We got $300,000 off our house. from what he wanted. There was nobody bidding. I believe 6 months from now it'll be the exact opposite. And I think this— I personally, this is my personal opinion. I don't think we'll ever come back to these prices again. Right down here, this is medium home prices for the United States. I don't think we're going to come back here. I think this is the drop. This is the dip. I think home prices are going up and to the right. We have 40% of homes in the United States are paid off. Roughly 35% of homes are less than a 3% mortgage rate. You're not selling those homes right now. We also have millions of— a massive housing shortage in the United States. I don't think home prices are coming down. I actually don't think most asset classes are coming down. I think we have a new plateau. I think inflation, since essentially COVID, everything is up 20% on average. Gas, food, everything in your life right now, mine and your life is up 20%. Now, I know they say year-over-year inflation is down to 2% or 3%. I get that. But if you take an aggregate over the last 4 years, everything is up about 20%. I don't think it's ever going to come down. And well, they just signaled they're now cutting rates. They're moving into a quantitative easing type of category here. We have now locked in a 20% bump in inflation, I think, forever. We are now at a new plateau. I think all assets are going to need to rise to that new plateau. We have devalued the dollar that much that asset prices in dollar terms need to Hit this new plateau. That's my take on the market, and it's because we had remember remember September first this year we had Black Monday that first Monday of September everyone's like it's the it's the Great Depression's coming it's going to be crazy and the market sold off and then remember like three days later it was all bought back up remember that like it was wild let me I pull up a chart here let's see if I have a a chart here early September it was like man we are gonna get smoked. The crash is here and bam, it just got bought back up. And now we're approaching all-time highs. Remember the regional banking crash last year? Oh, Armageddon. Things were falling and then it just got bought back up. There is so much liquidity in the markets. There's so much money on the sidelines. I do not believe things really can crash that far. There's too many people waiting to buy the dip that I think dips are getting bought up very quickly. Even if they cut again, there's so much capital being injected into the markets. Uh, that I think all assets need to rise to a, to a new level. Um, that's my take. Uh, we're actually— I'm gonna do this. I didn't plan on this. Do you guys want a little crypto update? Let me, uh— this is something actually we're presenting tonight, so let's do this. Uh, we look a lot at the crypto market. I run a crypto hedge fund, if you want to pull up my screen, um, with Ugly Unicorn. And I did not plan on doing this, but let me just share a little bit about the, uh, the market. Looks like Okay, I'm not using this deck. I think the fonts got changed. But anyways, the massive cycle in crypto is happening right now. So sorry, don't look at the fonts. I think this deck's being weird for some reason. Anyways, we'll use it, whatever. The ETF approvals here, massive. Okay, we have Ethereum and Bitcoin ETFs coming in that have all been approved. We have massive adoption. This was gold 11 months after the ETF launches. This is it years after. This is the, this is the first year it kind of chopped sideways and then gold ETF like took off. If that's a signal, the Ethereum ETF got approved. We have PayPal now doing crypto. We have MasterCard just approved their massive crypto platform to 3 billion users. Kamala is a little unknown on crypto. Trump, very pro-crypto, very, very pro-crypto, says they want a Bitcoin strategic reserve. I mean, he wants to fire Gary Gensler. He wants to make crypto a hub in the United States. Very interesting. We have rate cuts that happened yesterday. BlackRock, you know, the largest asset manager on Earth right now, is full in on crypto. I mean, Larry Fink, this guy right here, one of the most powerful men in the world, all in on crypto. We are seeing a massive integration with blockchain, blockchain and AI, blockchain and coding, blockchain and real estate, blockchain accounting across the board. Now, this is kind of the cycle we are entering in crypto. If you don't know, runs on 4-year cycles. And so Here we are entering the last year of a four-year cycle. This is what's called cycle theory. The 2016 cycle, the 2020 cycle. We're now in the 2024 to 2025 cycle. Here's another, and they usually are followed by Bitcoin halvings. If I have that chart, here's another way to look at the exact same chart. They're almost like clockwork. It's very, very interesting. And this is actually this one's probably better. This is putting the cycles on top of each other. So. Here's the cycle in different years. This happens because of Bitcoin halvings, the way the Bitcoin protocol is put together. We have had, remember 2017, the blow-off top? That was a year, about 18 months after a Bitcoin halving. 2021, remember that blow-off top? It was crazy. ETFs, like that, or not, NFTs in 2021. We just had a Bitcoin halving about in April. We think we are just about to approach the next supercycle in crypto. This will, this will run if, if history repeats itself until middle of 2025. Um, this is another way to look at the same— this is the same information, just different ways to, uh, to look at these charts. So bam, here's a different way to look at this. This is a crypto supercycle. This was 2016, uh, 2014, 2016, 2021, and now we are right here. Okay. This is the same way to look at this chart. We are very, very bullish right now. You might say, well, elections, how do elections affect this? Well, elections actually, it's right in a 4-year cycle, right with US elections. This is the previous elections right here. If you see the election, chops a little bit and then bam, major bull market, bam, major bull market. Right now, we are entering the 2024 election. This is where we're at right now. We're near all-time highs. We think we could be approaching this next major supercycle. This is another way to look at the exact same chart: 2016, 2020, and now 2024. We think we are very, very close to this next crypto major rally, which is pretty fun. Rate cuts could keep it choppy in the middle, but the medium to long term, we think we'll do very well. I love this. If you ever feel bad, Just remember, SoftBank owned 4.9% of Nvidia and sold it for a $3.3 billion profit. Today, that would've been $160 billion. This is a few months old, by the way. I think this would be now $200 billion. Cathie Wood was all in on Nvidia way back here. She sold all of her shares, bam, right there, right before the run-up. Blockchain technology is an amazing technology. I believe it's the future of crypto. It's the future of money. And we take a risk-mitigated approach to crypto. We primarily right now are in mid to large caps right now, and a lot of alts here, because usually Bitcoin runs first, then Ethereum runs next, then large caps, then alternative investments. So, or excuse me, altcoins is what they call them. We are primarily in these kind of categories. Bitcoin, we believe we're on first, and then these will do exponentially better as they grow. So we're pretty excited right now as a fund. Going forward, so all right. Enough enough market update. We got a good day from crypto. We'll see how if this continues to keep going. But yeah, pretty interesting. All right. Cool. Little update from the last few days, and you know, kind of fun. What do you guys think? Type in the chat. Let's do this. Do you think this year? How do you think they're done cutting rates? Are they going to cut rates more? They're going to raise rates. What's your prediction on now? Let's say till December 31st, you know, end of the year. Where are rates at? What's your prediction? Type it in the chat for me. Cut more. They can cut, but how much more? How much more would they cut? They're going to cut 50 basis points, 25 basis points, a full basis point. How much are they cutting? Type in the chat. More cuts to come. 0.5. More 50 basis points, one more cut in October. It's been funny. I've been talking about this election for a year now, and I've been saying they're going to cut right before the election. That's what they always do. They always cut right before the election. They want to make markets look good going into an election. They always do it. And here we are cutting right before an election. Do this for me. Who's going to win the election, Trump or Kamala? Or actually, let's say, who are you voting for? Let's do that. Not who's gonna win, but who who are you hoping for? Trump or Harris? Type in the chat. Trump or Harris? Do a little poll here. Another fifty point. Yeah, Trump or Harris? Who you guys got? Who who are you supporting? Just a little just a little anecdotal poll. Curious where people are at. Trump Trump Harris. Yeah, Kennedy Harris. Harris will win, but I'm shooting for Trump. I know it's— we'll see if Trump can survive, man, all these assassination attempts. We'll see, man. It's wild. I was listening to Elon Musk the other day. He's like, man, if we're just some on The Matrix on some alien Netflix, he's like, man, the ratings must be really up because it is week to week right now. We have some crazy crap going on. He's like, they must have some high ratings if some alien planet is watching and You know, dictating what we're doing. We live in a crazy world. All right, uh, let's do this. Um, I want to talk about today, uh, let's talk about your funds. Let's talk about what you're building, what you are doing, and let's talk about, um, well, what would you guys rather do? Raising capital? Talk about raising capital or talking about building, uh, uh, your edge in your fund? Maybe we can talk about both. Which one would you rather do first? You want to talk about raising capital first, like frameworks around raising capital, or would you rather talk about, um, Building your edge. Type in the chat for me. Take a little vote. Building edge, raising capital, raising GP capital, capital, capital, capital first. All right. We'll do capital. Um, okay. I, uh, let's do this. Share my screen for me. See if that pulls up. All right. So mega framework here. Boom. There we are. All right. Let's talk about raising capital. Here we go. Uh, now what I want to share. Is this: there are a thousand different ways to raise capital. There is not one one-all answer to raise capital. There just isn't. There's a lot of great ways to raise capital. I'm going to share a few things that I have used that have worked well for me, but more importantly, I want to share frameworks for raising capital. Now, what is a framework? A framework, and this is what I'm showing right now, is a conglomeration of a lot of the frameworks that we use for Fund Launch. A framework is a system, a frame that you can put your situation into, and it works across time and across country or across asset class. We stress test these frameworks like crazy to try to fit and make sure they are broad enough, yet narrow enough to answer and solve a particular problem. So for example, you're looking at different frameworks, every single fund. has these 3 distinct roles. Every single one of them across industry, across asset class, you fall into. Now, it could be 30 people can fill these 3 roles, or 1 person can fill these 3 roles, but all 3 roles get filled. Risk control return. How do we find asymmetrical risk in our funds? We talked about this day 1. That is a framework for de-risking your portfolio. Okay? Some of these are a little more standard, a little bit not. We'll talk about building your edge a little bit. So that's a framework for how to think about building your edge. A fund waffle is a framework for how to build out your ecosystem of partners and teams. A waterfall, that's a framework for how fund managers are paid. So, what I want to talk about right now is this framework, the 3 stages of raising capital framework. And you guys, as I go, I think you'll get a little more sense of what I'm talking about here. So, we're talking about this right here, the 3 stages of raising capital. Now, Oren Klaff, we were going to have him come on. We might, we maybe pull him a video from him, but this guy, incredible cap raiser. If you have not read these books, Pitch Anything and Flip the Script, 2 of the best books on earth on raising capital. We just did an event. I actually flew out to Oren Studio last, last month, did a full 3-day event for our Black Card members. So a bunch of our Black Card members flew in person. We talked for, sorry, 2 days fully about raising capital. It was phenomenal. And I mentioned earlier, if you guys want to join Black Card or be a part of Black Card, we're doing a trial right now. Adam can drop in the chat for us, but you guys can join and be a part of that. And that's part of being a Black Card. You get to come and learn from expert mentors from all over the world. Someone like Oren Klaff. These books are phenomenal. I can't actually. I you know these are just amazing. I just realized this is in a different language on this slide. That's the book cover, but this is in a different language. Un momento do innovador para ah man! I I speak Mandarin. I'm a Mandarin speaker. I I lived two years in Taiwan. I do not speak whatever language that is. All right, squirrel. Okay, let's get into capital raising. Is that Spanish? All right, my Spanish— my wife makes so much fun of me. I am so bad at speaking Spanish. When I try to speak Spanish, I mix in, uh, man, like Chinese words into my Spanish. So if I learn a Spanish phrase and I don't know a certain word, I don't supplement it with English, I supplement it with Chinese because it puts to my, my other language. Anyways, I digress. Um, okay, all right, let's get in here. I'm struggling to raise capital, what do I do? Ah, all right. 3-stage raise of capital. Uh, I always, people always come to me, Bridger, I can't raise capital. Like, what, what do I go? And I always follow up with this ques— like this answer. Well, what part of the process are you struggling with? Number 1, are you struggling to get in the room? Are you struggling to just get even in the vicinity of people with money? Number 2, maybe you're in the room with money. Maybe you're around people with money, but can you connect with them? Can, can they, do they actually view you as someone that could raise money for them? And then number 3, maybe you're in the room, people see you that you could raise money for them, but are you actually getting to the chance to actually close them and pitch them? That'd be phase 3. So phase 3 would be like, I have a pitch deck, I'm pitching you, and that's the phase I'm in. Does this make sense? Okay. Um, so number 1, am I in the room? I mean, am I even in the vicinity of people with money? Number 2, am I in a— have I connected with them to the— have I warmed them up to get the chance to number 3, actually pitch and close them? Those are the differences of the 3 stages of raising capital. So, people in the chat, which one are you falling into? Which one do you feel like you have the most trouble with? Number 1, just type in 1, 2, or 3. Hey, I'm having the most trouble with getting in the room, or I'm having the most trouble with— once I'm at, you know, I get in these great rooms, but man, I have a hard time Work in the room and meeting the right people and getting in, you know, and talking to those people. Or is it number three? Hey, I've got lots of people to pitch, but no one's investing. No one's closing on my deal. No one, you know, is is coming in. Type in the chat. Type a one, two, or three. So ones, one and two, twos, threes. Type in the chat. Which one are you? Which one do you struggle with the most? Threes, twos, threes. Okay. Wow. We got a good mix here. Um. I like it. I'm an introvert. Okay. I like it. Let's talk about it. Now, I'm going to back up for a second and say this. If you're not a natural, you know, you're just not good at this, go find a partner who is. There are incredible people out there. I had a guy call me. He's like, Bridger, I have 2 billionaires that love me. And I was like, what do you mean? He's like, they— he's like, I, you know, this guy's well-networked, well-spoken. He's one of those guys for the last decade, he goes to every charity event and network he met. He's just one of those people. He goes, I have these 2 billionaire friends. They absolutely love me. They want to invest into one of my deals. And he goes, I've put them in other places before, but they actually want to invest in me. And he's like, Bridger, can I come partner with you and be your cap raising partner and come help you out raise capital? Maybe some of these billionaires can put money into the deal. And I was like, you got 2 billionaires that want to put money into our deal and you just got to be a partner with me? He's like, yeah. And I was like, Saddle up, partner. Let's do it. Come on. This guy had just— he was so good at getting in the room and connecting, but he had nothing to close with. He had no offer. And there are people like this. There are natural-born capital-raising people out there. So, if you're not naturally one of these people, I would gravitate towards maybe, hey, I'm going to be the fund manager role. I'm going to do more of the operations, SEC compliance, or I'm going to be the expert investor. I'm going to be more of the I'm gonna be the options trader in the basement or the real estate expert or the person that trades crypto all day. I'm gonna be that guy. Okay. All right. So, but back for this conversation though, we're gonna talk about specifically capital raising. All right. So we, we said 1, 2, or 3. Let's, I guess we can go through each one of these. Um, okay, let's dive in. So when I think about, again, this is a framework. So let's talk about number 1, getting in the room. How do, Bridger, how do I get around more wealthy people? Where are the wealthy people? What are they doing? Like, Where are these people? I'm going to say this first off. There are, number one, a lot of wealthy people out there. You have to retrain your brain to be like, there is lots of money. There are lots of very wealthy people around there, and they are actually actively looking for people like me to invest into. And it's hard sometimes to retrain your brain to do that, but it's actually very true. If you live in any city that has a sports team, if you look at the first 10 rows at every home game, those are your high net worth. Those are your family offices. They're paying thousands of dollars per ticket. There are plenty of people with money in your area. That's just right there. Every game, there are hundreds and even thousands of people with millions of dollars going to sports games. There are people in your city. They don't drive Ferraris every day. Actually, the number 1 car of millionaires, guess what it is? A white Ford F-150 or used Tesla. I was actually speaking, a side story, I was speaking at an event. This is 2 months ago. And I brought this up and I said, and I knew one of the guys in the room, his name's Jeff. This guy's worth $300, $400 million. He's in the room. He's kind of a mentor of mine, friend. He's an older gentleman. And I was bringing this up and people didn't believe me. They're like, oh, whatever. And I said, Jeff, I go, I would bet you right now, Jeff is the wealthiest guy in this room by 10 times. And I said, Jeff, what car do you drive? And he goes, I drive an F-150. And I go, what's your other car? And he goes, it's a used Tesla. I don't know why it is. Every really wealthy person I know, they drive F-150s and they drive used Teslas. Anyways, I digress. They are usually low-key. My dad is one of these people. He walks into Macy's and walks into the mall. Like, this guy is, you know, he's just a normal— people have no clue. They sit on a plane next to him. He's just sitting there. This guy's worth hundreds of millions of dollars. And, uh, there are a lot of people with money around you. So, big question is, how do I get in these rooms? Number 1, rewrite your brain. There's lots of people with money around you all the time. Number 2, how do I get in these rooms? There are 2 ways to get in this room. I've broken it up into 2. There's only 2. You can either work your way in that room or you can buy your way into that room. And by room, I'm defining room very broadly. So, let's give a few examples of this. And I'd love for you guys in the chat to add more. I'm just going to give you a few examples here of how do I get in the room? Okay. Work your way into the room. I can go on LinkedIn. How would you work your way in? Type in the chat, what are ways you could work your way into a room? Get on LinkedIn. You start DMing people, right? Cold calling. You can go knock on doors. You can go to networking groups. There's free networking groups you can go. And it takes some work sometimes. You got to weed through these groups a little bit. If you go to different websites, there are meetups. There are real estate meetups all around the country in your city right now. And actually, maybe I'll pull up my computer in a second and we can look them up. Real estate meetups all over the place. Social media, right? You can attract people on social media, going to events. These are great ways you can work your way into a room, okay? And are awesome. Let's talk about buying your way into a room, okay? Ferrari club. You could buy a Ferrari. There are Ferrari clubs in most cities on earth. The Ferrari Club of Dallas, Texas. Guess what you have to have to get into the Ferrari Club? A freaking Ferrari. Okay? You got to have a Ferrari. That's your ticket in. You have to have the car. And so, once you buy the Ferrari, you're in the car club. You can do pay-to-pitch. We've done a couple where it's $5,000, it's $10,000. You get a chance to go pitch A room of family offices. You are buying your way into a room. Box seats. One of my— my dad and his partner, when they were first starting out, his partner came to him and I mean, this is how they tell the story. They're like, we're in this teeny office. We have no money. Nothing's working. And my dad, he's very conservative and his partner is the cap raising partner. And he's like, hey, John, I just spent $30,000 on box seats to the Utah Jazz. And I live in Utah, by the way. Okay. Utah Jazz. And my dad's like, what? You spent $30 grand on box seats? Like, what are you doing? Like, he's like, hold on, hold on. Before you get mad at me, he goes, John, we're trying to call around and we're trying to get in the door with these big CEOs or big-time people. And they have gatekeepers. All of them have an assistant or a gatekeeper that turns us away. He goes, imagine if I call in and I go, hey, Mrs. Johnson. Hi. You know, Mrs. Johnson's a wealthy woman in the in the area. Hey, Mrs. Johnson, I was calling in, um, and I'm talking to the assistant. Hey, assistant, uh, I just wanted to invite, you know, we got the Lakers in town, LeBron's in town, um, the Jazz are playing the Lakers tomorrow night. We've got, uh, 2 box seat tickets for Mrs. Johnson and her husband to come. There's a dinner beforehand, there's private parking. We'd love to have them out. My name's Bridger, and I, you know, we wanted to invite them. We're friends of the, friends of the family and wanted to invite them out for tomorrow night. 9 times out of 10, that assistant is going to pass that message on. And lo and behold, this strategy worked really, really well. Last I talked to them, they mentioned, they told me they raised roughly $75 million from those box seats for, I think they did it for 2 seasons at the Utah Jazz. Isn't that crazy? $75 million they raised equity. They'd bring people in. They got, now they have 3 hours. They're talking with them. They have dinner together. They're laughing. They get to know them. It warms them up. It got them in the the right room. Does that make sense? This is a way to buy your way into an idea. Let's go back to the slides here. Pay-to-play networking. I have joined a number of groups, pay-to-play networking. I've spent, just counting up on the bigger ones, our first group I ever joined was $15,000. Me and Mason joined that on credit cards when we were in college. We got in the right rooms. The next one we joined was $30,000. All it was, was 3 events a year. You paid $30,000 and it was 3 events a year. And I was like, okay, I got to make this worth it. But the cool thing was I was in the room with other people that had also paid $30,000 to be there. We then joined one where it was $24,000 a year. They had 4 events a year. Same idea. It's a lot of money, but it's a barrier of entry. It weeds out, it gets me in the right room. You go, Bridger, how'd you raise so much money? What'd you do? I did a lot of pay-to-play. We talk about Black Card. I just mentioned Black Card. It's $30,000. So, is it a lot of money or is it not a lot of money? Well, let's just compare it to the value that what it costs and what you're getting in return. You're getting 3 events a year, just like I got for $30,000. Great. You're also getting your full-fun legal setup. You're also getting a full network of 1,000 fund managers. You're also getting 15 coaches that work you on your fund. You also go through the 4 phases of launching your fund. You also get your pitch deck designed. You also get the full partnership network that plugs into your fund. You also get to come pitch our capital committee and potentially raise capital out of the group. Pretty decent offer, right? That's why Black Card has blown up. That's why it's been this incredibly successful product. People look at this like, wow, I get a pay-to-play and I get all the other bonuses on top of it. Like, holy crap, this is well worth it 10 times over. And I think Adam just dropped in the chat, if you guys want to join Black Card, we're doing a test drive from now until for next week. It's $99. You can come test drive Black Card and see if it's worth it to you before you join. But that was massive for us, pay-to-play networking. We then joined one. Me and Mason spent $150,000 last year for a group. There was 4 events a year and a Facebook group. But guess what? Everyone else that joined also paid $150,000 to be there in 1 year. Isn't that crazy? And we looked at it and said, well, that's a lot of money. But if we learn 1 or 2 things that makes our business more than $150,000, it will be a positive return on our investment. If I spend $30,000 going to 3 events, I just need to, I need to learn something or meet somebody that will make me $30,000. Then it was a positive return on my investment. I think of it just like investing, right? I'm investing into groups or businesses or networking groups so that I can be in the right rooms, attract the right people. And by the way, uh, I, uh, if you guys follow Alex Hormozi, we've actually met with Alex. I went boating with Alex. This is years before he, before he got famous. We were, we were, uh, we hung out a number of times and I talked on the phone. I have multiple Zoom calls with Alex. He mentioned this. He says the cost to become a millionaire is about $50,000 to learn how to make a million dollars. I thought it was so interesting. And I had a family friend come to me just a few weeks ago. He's like, Bridger, you know, we're relatively young, me and Mason, and you guys have had really good success at a relatively young age. How did you guys do that? And there's a lot of things. Maybe it was luck. Maybe it was chance, whatever it was. But I said, man, I really think what moved the needle for us Me and Mason, when we were— you can make me full screen if you want. When we were in college, we joined a group for $15,000 and it was— we put it on credit cards. We did a payment plan and it put our feet to the fire. I was a sophomore in college. Mason was a freshman in college, I believe. We have no money. We had scrapped together. We started a few little side businesses. We had a little bit of some shekels. We literally put everything into this thing. We joined a group for $15,000. It was all about how to make online marketing stuff work. And we're like, hey, and then what happened was we were like, okay, we got to make this thing work. We've got to learn something to make 15 grand. And we had a payment plan. It was $1,000 a month. I think we put $5,000 down. It was $1,000 a month. And we're like, crap. So, every night we were meeting at one of the buildings at BYU and we'd sit down and like, hey, what are we going to do? We're going to do this. We're going to run an ad campaign. We're going to sell this thing. little thing. We were trying to figure out ways we could sell and make money. And, uh, we then, uh, we went on, we actually started a couple agencies and we actually did really well. We started to build websites for people. We started building websites and online marketing. We actually recouped and made the $15,000 back and we're like, great, we, we broke even. And during that time, I, I'd started my fund, my first fund. So I was running my fund, it was doing well. And then Mason came back and he's like, dude, remember last year we learned all that stuff about online marketing? What if we applied that to funds? What if we went out and taught people or shared stuff about investment funds? Wouldn't that be interesting? And I— and you run a fund and your fund— you actually run 2. Now at the time I was on my second fund. You've run 2 funds now. Your dad runs a fund, brother runs a fund. You have a big network of fund people. Like, what if you brought them in and did funds? And so we did a test, we did an online marketing test and we launched and it was an overnight success. Fund launch blew up. We did, uh, I think $2.5 million in sales in our first 12 months as college, you know, out of college. And then it went to, we did like $5 million next year. We've done over $30 million in revenue in Fund Launch as a business, which is just crazy. And we have a huge, amazing testimonials, customer reviews, people raving what we've done. We've thrown now 3 in-person events. And I'm not saying this to brag about myself at all. We've been very fortunate. We've been, we've been blessed by a lot of different things and we've, and it's not been just me and Mason. We've been, we've had an incredible team. We've added. This huge team, we've gotten and interviewed some of the best fund managers on earth and brought them together and built this amazing product for people to go launch funds. And we've now seen our students go out. We have 15 students over $100 million. We have a few approaching $1 billion in their funds. We have 54 students over, over $10 million in their funds, which is just like, wow, the impact that this has had has been amazing. And it all came back to Me and Mason joined a $15,000 program when we were in college. What was the return on that investment? At the time, it was really scary. At the time, it was a credit card. At the time, it was, I don't know. And now, that's the best $15,000 we ever spent, right? And it like, wow, holy crap, look at the trajectory of our life. And I have this family friend asking me like, how did you do that? I'm like, well, we got fortunate, we got lucky, but man, we invested in ourselves. We really went in and found I wanted to be in this game. I wanted to play in this industry. I started to pay to play to be in the right rooms, the right places, even at a young age. And I think it— we bought shortcuts. I tried to learn from people that they spent 2 decades learning something and they put it together into a book. Man, I'm buying that book or I'm buying that program or whatever the thing is. Like, alternative education, I think, is massive. And just being in the right rooms, the right people is massive. And so, I'm a big believer in this, and we'll probably continue to do this until we die. We just joined a group. We joined the Greenwich Economic Forum. We're going to the Greenwich Economic Forum with Ray Dalio and all these bigwigs in, what, 3 weeks? I'm flying out to Greenwich, Connecticut. That was $15,000. I still actively am joining groups, paying to play, being in the right rooms. And I think it'll pay dividends over— it already has massively, and I think it'll continue over the course of my life. So, All right, side note, squirrel. Okay, put back to my slides here. Um, but pay-to-play networking I think is massive. And whether— I don't even care if you join Black Card or our group. I don't even care. Join a group. Find something. Find something that benefits you. Don't, don't join our stuff if you don't feel like it's the right fit. That's totally fine. Uh, I think it's pretty good. I'm obviously very biased. I've learned from going to all these other groups what's the best things that they did and bringing them back to our group and making it exceptional. That's why I think Fund Launch is like one of the best groups on earth for, I would say, the number one group for fund managers, but just in general, one of the top groups on earth for just anything in general business of what we've done. It's been phenomenal. Pay-to-play networking is massive. So Ferrari Club, pay-to-pitch, box seats, pay-to-play networking, and then work your way in LinkedIn networking groups, real estate groups. And by the way, I believe you should do a little bit of both to get in the right rooms with wealthy people. Do a little bit of both here. I was going to share this story. Me and Mason bought this car years ago. Okay? This is one of the cheapest supercars you can buy. It's an Audi R8. These run for like $80,000, $75,000. They are technically a supercar. This is the actual car we bought. This is when we sold it. We took these nice pictures. We had this car for like 2 years. I started getting invited to all these car meetups and rallies and come hang out. All these cool people that have Cars that are $200,000, $500,000 cars. Hey, bring your Audi. Come hang out with us. I'm like, okay. It got me in the right rooms. These oh here's some of the masterminds I've joined the last three years. Some of the cost and man that's expensive. But look at the the background. I'm actually going to do this. There you guys can join. I'm going to give you a real world example right here. Angel groups. Type a city in the chat. What cities are you guys in right now? Type a city. There are there there are. Groups that are meeting together actively waiting for someone like you to come and pitch your fund. They are actively waiting for you to come and pitch them. Wealthy people, what a family office is, is a wealthy family. They hire people to actively scour the earth to find the best investments out there. Wealthy people are actively looking for you. And so one example, okay, let's take St. Louis. Okay, come back to my screen here. St. Louis. I'm just gonna type in St. Louis angel groups. Okay, let's see. We got a few sponsored posts. I'm this is not pre-planned, by the way. St. Louis Arch Angels. Angel groups are like kind of like Shark Tank. They get together once a month, and today look at become an angel if you're a credit investor, or hey, come pitch your company. I mean. Like, hey, bam! There are groups meeting together, usually monthly or quarterly, waiting for great funds like yours to come pitch. Uh, let's do another one. Um, someone typed in— let's take a hard one. St. Louis is easy. Chicago, that's easy. Philadelphia, that's easy. Let's do Boise, Idaho. Boise, Idaho. Look at this, the Boise Angel Alliance. It does not matter if you're in Boise, Idaho, there's a Boise Angel Alliance. This is a group of investors that come together, 250 angel groups. Oh, including Boise Angel Alliance. They come together and they meet up. Uh, let's go Chicago. And then like Salt Lake City, we have the Salt Lake City Angels and we have the Park City Angels. We also now have the Tribe Angels. We have 3, you know, distinct groups in Salt Lake. Chicago Archangels. Uh, you know, anyways, you can go down angel groups in Chicago. You can go through and find angel groups that are meeting up and you can come pitch them. They're actively looking for you to come pitch them. Okay. All right. So angel groups are massive. Okay. That's number one. Get in the room. Was that helpful, by the way? Get your— you can work your way in the room or buy your way in. By the way, those are just examples. There's a lot of ways to do this, a lot of ways to work your way in the room, a lot of ways to buy your way in the room. Tons. Okay. This is a massive way. And by the way, even if you don't have a fund right now, I would start doing this already. Start getting in. And this is cliché of like, get in the right rooms, but like really get in the right rooms, get around the right people. Like today you're on a webinar with a bunch of people virtually. Get on virtual meetups. Uh, if you go on your— right now on Google, type in your city and say real estate meetups or, uh, um, small business, you know, entrepreneurship meetups in your, in your city. Every city on Earth has different groups that meet up like this. Some are investing, some are entrepreneurship, and you're gonna have to weed through a little bit to find the right group But man, it's crazy. Okay? So, next, hopefully this is helpful. Okay, Bridger, I'm in the right rooms. You're messing, buddy. I have a friend, comes from a wealthy family. He's always in the right rooms because he's from a wealthy family, right? His dad and mom and grandpa, they're always inviting him to these cool dinners and charity events and all these things. But guess what? He shows up and no one sees him as a real player because the way he carries himself, the way he talks, the way he moves, it's like, oh, he's just some kid here that's You know, he's in the right rooms, but he has no— he does not know how to connect in that room. No, no acumen of how to do that. Anybody ever met somebody like that before? Whole different skill set in itself. Let's talk about that for a second. Um, and by the way, people are asking in the chat. Yeah. So Black Card, um, if you guys are interested on that, actually, I'll share my screen for a second. Pull my screen up. So yeah, if you come here, this is what the, uh, the website looks like. If you want to join, it's test drive for $99. This is a one— this is only for this week. We are ending this. The test drive ends September 27th, so you can join now and you will end September 27th. It's only for the next— what is that, 8 days? This is a— it's fully refundable. You come in, you pay, and the next page you come book a call with my team. We review your application and then if it looks good and things look right, we will then enter you into Black Card. You guys can come test out. You can get the coaches, the teams, the advisors, the network, all that kind of stuff, legal, everything in here. You can come read reviews down here, all of our stats. You can come watch videos if you like. So Adam's dropped in the chat, uh, uh, the link if you guys want to go sign up. Here it is. Um, and then as well, this is kind of how the backend looks. You'll get in, you'll come into phase 1, and you'll actually come in, bam, you can watch this welcome video by yours truly filmed right in here. Come through, here's our scorecard. You can come see what we're going to score your fund on, how the curriculum works. You can come look at the foundation, uh, why we look at your pitch deck. This is me reviewing pitch decks, uh, crafting your pitch deck, competitors, what Who are your competitors? What's their differentiators? How are you going to outperform and work against these competitors? Credibility. You can come down here and actually book your one-on-one call with a coach. So it talks through what you need to do before your calls. But then right here, you can come up with Dan or Dustin or Gabe, Ben, you can come down there, whatever type of fund you're doing, and they will actually come talk you through your fund. You just totally— we're giving this away for this week and it's awesome. So yeah, pretty fun. Um, we've got, and it's Black Card is, is pretty, uh, is pretty phenomenal. Here's actually the Black End Slack channel. You'll be added onto here. We have a full, let's see if I can zoom this up for you guys. If you can see a little bit better, we have a full deals channel. So you can come in here. All these deals are dropping. All of these different Black Card members are dropping different deals that they were working on. Um, you know, Miami, they're doing deals. We're doing a deal down here. I mean, you can go on and on, on all the deals that our Black Card members are working on. We have our, um, different events. So here's our Alts Roadshow. We're doing one tonight. We have— there's events going on every single week in here, different meetups of our Black Card members. All this Orlando fund managers meeting together. We have people in, uh, you know, all over the place meeting and talking and sharing. We have our cruise coming up in 2 weeks. Um, by the way, you can message me directly. I message the— I answer these pretty much every day. I talk to my Black Card members every single day. Come through and see the wins of the Black Card channel. Um, Yeah, let me look. I think Adam just sent me a Slack message. He said right here. So here's— oh yeah, perfect. Thank you. Oh, any— let's see. They're not pulling up, Adam. Maybe try again. But we had a bunch of people, Black Card testimonials here from the last little bit. This is Steven. These are all active Black Card members. I work full-time and Black Card has been a great accountability support to get in there. Again, I'm biased. I mentioned joining a group, but man, I'm biased because it's freaking awesome. Stop wasting time and struggling. People that might take action. Just drop this investment in yourself and work with people that will absolutely launch you to the finish line. From Drew, he's an— these are all active Black Card members. For me, you should join Black Card just for the in-person events and network. It's totally worth all the bucks. This is the best I've seen so far. It's just a matter of implementing it. I was talking about the new, the new rollout. There's endless knowledge in this community. This in itself is something would cost you more than you can imagine in time and capital. The process, the edu, and the connection is the best bang for the buck there is. If you are launching a fund, it's a no-brainer. You will save time, money, and be part of the best community. That's from Jocko. And he's, he's got hundreds of millions of dollars in developments right now in real estate. This guy is incredible. And it was really cool to hear that from him. These are real players, real people that are going out and crushing, crushing it right now. So there you go. Little teaser on the back and a black card right here. Here's your Patreon. You come to this page, just fill this out, you pay $99, and the next page you book a link with our, with our team. Today and tomorrow, we'll go and review all these, and then we move forward and we'll get you in to test drive this whole thing. And by the way, if you don't like it, you just can refund. You can refund the $99. That's how confident we are in this thing. That's how good we think this thing is. You're going to come in and be like, holy crap, I need this. Like, this is what I need. Black Card is a $30,000 program. I just mentioned today, we actually just announced a new payment plan. You can break it up into 4 payments. So, So, $7,500 times 4, zero interest paid. So, totally interest-free. You can break it up. We do that though as a barrier of entry. It should cost money to join Black Card. It should be something because it weeds out people that are, you know, tired, not serious players. We have 1,000 serious players in Black Card, 1,000 people that are actually seriously moving forward. It actually weeds out and helps incredible people join Black Card that are serious, that want to move forward, that want to change their life, that really want to go forward with this. So, there you go. Yeah, but the test drive is you actually are getting the full— that's what you're getting. You're getting Black Card. It's the full test of Black Card. Yeah, you are. You are actually joining the Black Card program for 8 days right now. You get the full backend, how it's all built out. We're gonna talk about your waffle, building your team. You run through this whole thing back here. You're gonna get full access to the community Slack channel right here. Right here, general. We have over 1,005 members in Slack. These are all Black Card members that are in Slack right now. And then you can join our office hours. These are happening every single day. So, we have Brent going live, Forrest, Vu. It depends on the coach for the day, but we have a full team going, legal counsel going live. You can hop on, get questions answered on different topics every single day in Black Card. So, here's a bunch of them. Kind of cool. Here's our— we're live. Jim Riggio just dropped his link. Like, they're live today. That was this morning. And he does all things hedge funds. He's a hedge fund coach. Kind of fun. All right. Let's go back here. All right. So, Adam can drop those links in the chat as well. So, thanks, Adam, for keep dropping those if people want to join. All right. So, the 3-stage raising capital. Let's go to the next one. I'm going to save this end piece for later. Let's talk about connecting. So, we got in the room. We're now connecting the room. So how do you connect in a room? What does that even mean? And what's the end result? So thinking through this, there's a couple of different ways to think about connecting. How do I— you know, I'm in the right rooms. How do I warm somebody up to the idea that they want to close? And what are some— what's a framework around this? So I love this book by Jeff Walker. This is a phenomenal book. If you've never read this book, Especially if you're doing anything online, this book, Jeff Walker, Launch, is absolutely incredible. He wrote this like 20 years ago. I've read it a number of times. Amazing. In the book, he talks about this. He goes, when I was asked about saving college for my kids, he's at a parent-teacher conference and a bunch of parents are like, hey, are you doing a 401 or a retirement account? How are you saving for your kids? And his answer was this, I have a list. And the parents were like, what? Like, what does that even mean? You know, like, you have a list? Like, what is that? And he's like, I have an email list. Like, you have an email list? That's how you're saving for college? You have an email list? Like, they just laughed. They just laughed at him. And he's like, well, whenever I need money, I just email my list a new offer and I make $80,000 or $100,000. If ever I need $100,000, I just email my email list and And he was a big blog writer and had a huge email list. He's like, I just make $100,000 whenever I want. And that was his retirement plan. And he went even further. He said, by far the most important thing that he owned was his list. And I would say the same thing for Fund Launch. Fund Launch as a company, by far the most important asset that we have, you could burn Fund Launch to the ground right now. If you gave me my list, we'd be up and running in no time. You could burn my fund to the ground, but if you gave me my investor list, I'd be back up and running in no time, right? That's by far the most valuable thing. Ryan Pineda, if you guys have followed him, he's a friend of mine. He goes, he said this, can raise millions of dollars for whatever deal he wants to do because of his list. He mentioned to me, we were together, he's like, I posted a couple of videos. I raised $8 to $10 million over the weekend from a few videos on his list. He has such a great following. He does social media following. Grant Cardone, they have from Cardone Capital, they have $1 billion across 22 funds from over 13,000, excuse me, Accred investors. That's his list, right? That's how he raises money. Fundrise—they have 350,000 investors that have deployed more than a billion dollars on their list. Whenever they want to raise for new projects, what do they do? They go email their list. Blackstone. This is a crazy story with Blackstone. This is a true story. Blackstone is one of the top firms on earth. Right here you say they raised 10 billion dollars in 12 hours. What they did—they flew all their potential invest— they were launching a new fund. Everyone flew out to New York. They had a hotel ballroom rented out. In the morning, they presented the fund from like 9 to 11:00 AM. They presented the fund from 11 to noon. They had like legal counsel come up and talk about the legal things. They reviewed the PPMs, LPAs. Uh, 1 to 2:00 PM, they had breakout rooms from 2:00 PM to 5:00 PM. They started accepting subscription agreements. They raised $10 billion in 12 hours. And closed their entire fund. That's the power of having a list. This is the power of a massive investor list. So, you can have a big list or you can have a small list. It doesn't matter. You might say, well, Blackstone, that's, it's so hard. They got a big social media following, or they got this huge follow, whatever. Like, it does not matter if you have a big list or a small list. It just matters the quality of the list. Okay? More important is the quality. Okay? It's all about the quality. You could have a list of 50 names, and if those names are top-tier people, that's amazing. Okay? You could have 20 million social media followers, but if they're all non-accredited investors, like it doesn't matter. Okay? The quality is much more important. So when I connect with somebody, I am somehow trying to get them on my list. Now, I'm using list as a very broad definition. All of you have lists right now. If any of you have a phone, you have your contact list, right? That's your list right now. You have a Rolodex in your phone of saved phone numbers. That would be one version of a list. The next version would be like maybe organizing that into a spreadsheet. When me and Dan started our fund, we were like, what are we going to— like, where's our list? We started— we built a Google Sheet and we just started putting names and phone numbers and emails on this list. We, I think we had 150 names, pretty small list. And as we went to a networking event, we started meeting people. They'd opt in and we'd actually add them to our list. And what we started to do was text message people out. Literally would text them in a group text updates or things that were happening. And we'd add these, these little email things. We'd add value to their life. We'd either give them insights on the market, things that we're looking at. We'd share deals, all that kind of stuff. So, For example, let me give you a real-world example. So, I would go to an event and I'm meeting people. I'm in the right room, right? I got in the room. I'm at the big networking event. I'm in the right room. I start meeting people and, hey, what's going on? What are you doing? People generally ask, hey, what do you do for work? Or what's your business? Or what's your family like? You start talking, right? And people inevitably will ask you, hey, Bridger, what do you do for work? And I go, hey, well, I run a hedge fund. What's that? Number one, people love when you run a fund. People are like, What? You're in a— what's a hedge fund? Well, yeah, we invest in blockchain market. We manage about, you know, all these millions of dollars, blah, blah, blah. We can talk about that for a minute. But I try not to talk. I do a flash or I'll talk about myself for a little bit, see if they're interested in my fund. And maybe they are. Sometimes they're directly like, okay, Bridger, I want to learn more about your fund. Like, here's my con— like, tell me more. Generally though, it's like, yeah, cool. And I go, hey, you know, you sound like a guy that does lots of deals. And if they do, hey, it sounds from what the context clues they do, you sound like a guy or a gal that does lots of deals. I run a fund. By the nature of running a fund, I just get sent tons of different real estate deals and private equity, and I, 9 times out of 10, I can't do those. Our fund only invests into blockchain, but they're actually good deals. And I said, hey, Joe, you know, if, hey, if I get a good deal across my desk, can I send it your way? 9 times out of 10, if Joe's a player, go, yeah, sure. Yeah, I love— who doesn't like looking at good deals? I go, yeah, well, I always get good deals. Can I just send them your way? Sure. Can I get your email? I'll just put you on my— I have a little email thread. I'll just, whenever I get a good deal, I'll just shoot it your way. Does that sound fair? Sure. And so I'll get their contact information. We'll share cards or emails. And I, and I actually do. So I follow up, I put 'em on my, my little list, and I actually do get lots of deals. And all of you should be getting lots of deals if you start putting yourself in that kind of deal network. And so I get a good deal across my desk and guess what I do? I send it out to Joe and I start sending him deals. And after the event, he now remembers me because I'm not just some dude he met at an event. I'm Bridger, who now sends him some pretty decent deals. And I always say in the message, hey, I have no skin in the game. This is not my deal. I'm just forwarding a deal your way. Let me know what you think. And he starts— now we have a relationship as Bridger's a deal guy. Bridger's a guy that's in the deal or financial markets. And actually, he might— he adds some type of value to my life is sending me deals. This is— this again, this is one example. 3 or 4 months later, I will then say, hey, I've got a good deal. It's called my fund. Do you want to hear more about it? And hopefully I have warmed this person up with enough things that they go, yeah, actually, yeah, I want to hear more. And now I can transition them to the next phase where I'm actually pitching them and closing them. Is that making sense? Do you see how that transition, kind of that warming up stage? I've done this with other people. On, on, not on deals, but I'll say, hey, we, we send out a lot of crypto. People that are interested in crypto, hey, I love crypto. I'm like, hey, we send out tons of crypto updates. If you want, I can put you on our little list and I'll just, I'll put you on our text thread and we can just send you crypto updates as they come. And there's a lot of cool things happening. Yeah, sure, let's do it. Over the next 2 to 3 months, I start sending them crypto updates. I'll text it to them, email, whatever they need, whatever they like. And it warms them up. Bridger's an authority in crypto. Ah, we saw some guys in our group doing this with hotels. So they started doing— they would do a weekly webinar. I think it was every 2 weeks. Excuse me, every 2 weeks they do a webinar about hotels. This is during COVID Hey, during COVID this is what the hotel market's doing. That's what we're seeing. That's what's going up. That's going down. And they, even if people didn't show up, they'd send them the summary of the notes after. And what it showed was expertise in a certain market during COVID These 2 brothers, the Patel brothers, they raised— they're in Black Card. They raised over $100 million in COVID for hotels, and they had prior never raised a fund before. Who's investing in COVID in hotels? Nobody. It's a terrible investment, right? But they showed such expertise, such transparency on these investor reports. People are like, man, I trust these 2 brothers, man. They know what they're doing. And they actually lost money during COVID Things were going down. They weren't doing well. Hotels were all losing money, but they showed so much expertise and confidence in the area that they raised a ton of money. And I think now they're doing extremely well. Is that making sense? Is that— is this— is this hitting? Is this landing? Let me know in the chat. Is this— is this like landing at all? Building a list, connecting with the right people. So let me— let me go back to my slides here. So I'm building a list. Okay, now there's 2 types of lists. There's lists you rent and there's lists you own. Let me give you examples. Lists that you rent would be social media, Facebook group, Discord group, which are fine. But if Mark Zuckerberg wakes up one day and snaps his fingers and hates you and you're a conspiracy theory extremist online, you'll be— your group is gone. A lot of people during COVID had their huge— they had this massive list and following. And during COVID because of whatever, He snapped his fingers. Thanos snapped his fingers and their list was gone. The goal, if you have a list that you rent like a social media following, you want to get that to, you know, a list that you own. If you notice on my social media, we're actively— what do we actively do? Hey, come opt in. Put your email in. All of you for this webinar had to put your email in. Why? I'm trying to take lists that I rent to lists that I own because I want to be able to email you and I don't want Mark Zuckerberg to be able to snap his fingers and get. Do you guys see that report from the FBI that they actually were? They were telling Facebook and Meta what to do. Do you guys see this? And Mark Zuckerberg said it was a mistake. This is like two weeks, three weeks ago. Wild. It's like we all knew it, but he finally confirmed it. That said, yeah, the FBI was asking the the the White House was asking me to suppress information. Just wild. Okay, and they were snapping their fingers and turning off accounts. Twitter, the Twitter file said the same thing during COVID They were turning off accounts. That were generally more conservative, generally speaking out against the COVID vaccine and against vaccines. And bam, they got snapped. If you have a list, you want to be able to own it. Take lists that you rent and turn them into lists that you own. Okay? It's crazy enough. Email, 25 years later, email is still the best list, in my opinion. We have text message lists up, but still email lists And you talk to any online marketer, email lists, I think, are here to stay. We thought it would move on to something else. And anyways, pretty crazy. LinkedIn, someone asked, LinkedIn's the same way. LinkedIn, that's a list that you would rent. A LinkedIn following, something you rent. Try to transition to something you own. That's an email list, a text list, something personal contacts. This is something that you can own. Get away from Thanos before they snap their fingers at you. Okay? So, you have different ways though. You have ads, social media, things like this that then funnel into your list. Okay? We did a bunch of fun videos. This is a video we did. This is years ago. You guys see this video? A lot of you probably haven't seen this. This is like when we were first running Funnel Launch. Like, let's try to build our list. We started to model these old Nike ads. This is a Kobe Bryant ad. There we go. Bam. That was pretty lit. Wasn't that pretty cool? So we did the 2021 Fund Games. This is a way that we transition our list Onto our— from our social media. We had the— we did off the Olympics. It was the Tokyo Olympics. We said, hey, come join our list, join the games. We're going to do prizes, giveaways for all-around investment funds. And it did extremely, extremely well. We did this opt-in to win a Tesla. We gave away a Tesla online. We had 15, I guess, 14,999 comments. And you had to opt in to win a Tesla. What I'm trying to do is pull people off my social media list onto a list that I own. Okay, someone said, "Did I really jump over that car?" What do you think? Did I really jump over that car? I don't know. What do you think? Did I actually do it? We did the Fun World Cup. Okay, um, we this is during the I can't remember which was this 2022 World Cup. We did a bunch of fun videos like this. I'm gonna skip this video, but we built our list. We had 50,000. Now this is over 100,000 people joined our list because we had a. Free course on launching your fund. Um, pretty good. Okay, so in-person meetups. Uh, by the way, if you want to go to in-person meetups, this is a great way to do this as well. You can do social media or go into events. Go to meetup.com. There are millions of members going to events. Meet them in person, grab people on your list, get cards one by one. It does not— again, it does not matter how big or small your list is, just it matters the quality of list. And then affiliate, you can have other lists, you can borrow lists from other people. Okay, so is that making sense? This is again a framework for building out your list and connecting with people to convert them on your list. Okay, what do I do with the list once I've got it? Okay, don't show up and ruin the party. This story was from a mentor. He's like, when Twitter first launched, someone came on and just was pitching the whole time, pitching on Twitter. And I was like, dude, stop ruining the party. Like, lead with value, lead with content, interesting take on it. This is what— what can you send if you have a list? What do you send these people? An interesting take on a news article. Hey, this news article just dropped in the Wall Street Journal. This is my take on the article. Deals that you're seeing. I just mentioned that earlier. Podcast interviews. Hey, we just had a great interview. I thought this one clip would be very cool for you guys to see. Bonuses, insights, PDFs. I would recommend all of you right now start writing investor reports. Do a quarterly investor report, meaning, or monthly. Hey, September, August just ended, or September, whatever month we're in. Hey, this is my take on the market. Even if you don't have a fund, this is my take on— someone mentioned like a hotel in Houston, Texas. Okay, this is my take on this, the Houston, Texas market and why it's a good time to invest. Things like that really will ripen a list up and show you you're an authority on the Houston, Texas market. Wow, that was pretty insightful. What they taught me there. I posted to LinkedIn. Things like that go a very, very long way when you post what you are doing. Packages. We did that before. I'm going to switch this as well. Okay, so 3 stages of raising capital. You have your room, you connect, and you close. Okay, I'm going to pause for a second. Is this landing? Is this hitting? Is this helpful at all on the world of raising capital? Right. Getting in the room, connecting the room, and then If we have to, maybe we have time. Man, we're already talking so long here. Closing the room. Okay. Helpful at all? Yeah, I love it. We, yeah. Are there some tools that I can use to build a list? In Black Card, you guys actually all get access to Fund Launch 360. Okay. For $1 per month. Now we have white labeled this from GoHighLevel, one of the top softwares on earth. For, for doing this. Uh, you guys can run your entire fund off of this. So you come in, you can see all of you in Black Card get this. There's a full backend software you get, but you, you can look through where's your, um, where's, uh, you know, all of your— let's go like this. All of my marketing content, all of my emails that I send out, I send them all through here. All my, uh, I can do text notifications. My, all my contacts live right here. I have 1,000. This is just for Ugly Unicorn. 1,100 contracts on our list. Here's our LP pipeline. I'm not going to share this because there's names on here, but you can see that's the LP pipeline that we're working on right now. You can see our calendar. We can have a full calendar function. People can come book on my calendar here if they're going to come. We do have a document center. We can actually— I haven't used this yet. You can put all your documents and contracts in here as well. You can build your website on here. All of your websites can be built on here, all inside of Black Card with Fund Launch 360. Okay, so you can come in, build all your, all your stuff right in here. Okay, great way to build your list. If you have a little place, people can just opt in, start adding, adding their email to your list. If you look at uglyunicorn.com, this is our fund's website. People right here, they can come and they can opt into our list right here, right? Join our list, join some of the calls. Here's some of our marketing materials on our fund. Okay. Ta-da! All right in here. Okay. Kind of cool. All right, let's do this. Let me go back to full screen for a sec. Is this helpful at all? I think okay. You guys like that so far? Yeah, thank you. ABC always be closing. Um, yeah, pretty fun. Okay. Um, again, if you share my iPad for a second. So we've talked just to review. We've talked all about three. We talked about this. We've talked about this. We've talked about waterfall structure, GPLP structure. We've talked now about the three stages of raising capital. We dived into. All these kind of subframeworks. As you can tell, there's a lot here. I mean, we could teach for months on all this stuff. I'm giving you the Cliff Notes again. If you guys want to join Black Card, here's the offer. There's a QR code if you want to join. funnels.com/apply. We're looking for 11 people, $99 paid trial to join Black Card. We just offered this brand new payment plan here. Instead of paying $30,000, it's one-time fee, by the way. You join and you're with us for life. The other groups I was in, it was $150,000 per year, $30,000 per year. This is $30,000 one-time fee. Once you're in, you are in our community for life. You can even split it up into $7,500 over here. Here's some of the screenshots from the backend portal. Here's our office hours. You guys can hop on these calls all the way to the 27th. If you're doing the paid trial, you can join all of these calls over the next week and learn from our backend coaches. Here's our legal partners we work with, and here's kind of how the backend looks. Phase 4, we have a capital committee. You actually come pitch real-world investors when you're in there. And by the way, we are going on a cruise here just in a week and a half. You guys want to come hang out with 150 Black Card members on our cruise? Um, should be pretty fun. There's Fun Launch 360 right there. Um, and some of our Black Card members. So pretty fun. I'll give you a second here. funlaunch.com/apply if you guys want to join. Today is the last call, by the way. It's the last call to join. We are closing this webinar here in just a few minutes. It's been amazing 3 days. I'm going to answer a few questions here. Um, but this is your last call if you're— if I mean What you are risking at this is a little bit of time. That's all you are risking because we, we will totally refund you the $99 if it's not worth it or if you're not a good application, we'll just refund you the money. Okay? All you are risking is a little bit of time. That's it, man. I can't draw on this thing. There we go. A little bit of time. That's all you're risking. Is it worth risking taking the chance? Now, this is not for everybody. This is for about 1% of you. Okay, this is only for about 1% of you that are— that want to move forward, want to play, play in a way bigger community, go and actually maybe build a syndication or build a fund. This is for you. This is for you guys. Are there extra charges for the cruise and other events after joining Black Card and paying $30,000? Good question. So the cruise, I think we have on these 11 people, we have a few free cruise tickets left. So make sure to talk to whoever you were. I think they're first come, first serve. We have a handful of cruise tickets left. You got to pay for your flight. If you're coming on the cruise, they'll pay for your flight out there. But once you're there, once if we give you that free cruise ticket, you're on like the cruise is paid for. You can upgrade your room if you'd like, but there you go. Additional costs. So we cover, we cover all of the legal setup, which is the majority of the cost that you'll have, and a full pitch deck design here. Now, there are strategic partnerships that you can add on if you would like for your fund. So if you want to do taxes or an audit or those are à la carte things that you can add on for your fund. But the coolest thing is your fund pays for those. Those are reimbursable expenses from your fund. So, um, really there's not much. Uh, I mean, a plane ticket out to come to the cruise, um, you know, getting yourself there. There's a few ancillary costs, like if you want to do above and beyond things, you know, if you want to go hire a, you know, get a big— and like, we have a bunch of strategic partnerships here that are all optional. So if you want to go get insurance for your fund, or if you want to go, uh, do a tax and wealth planning, those are all— On top of the core offer of Black Card. So, but no, all of this is like included. All of it's in. Yeah, it's all part of your $30,000 membership here. Now, after your first year in Black Card, you are with us for life. You are in the Legacy member forever. You're here if you want to do a second fund or if you want to go redo your second or third or fourth fund, you can join Legacy Pro and we'll redo another fund with you. Or if you want to, all your events, you know, are covered and paid for. You can join Legacy Pro. Um, for $883 a month or $10,000 per year. But, uh, it just depends where you're at. Most people just end up in Legacy and it's great. And we're gonna— you're, you're still in the community, you can still join the office hours, you're still at— you can get the, you know, uh, the backend videos, all that kind of stuff is all there. The community, the Slack channel, all the cool stuff is there. Yeah, just the hard cost. If you want to do another fund or do more legal stuff, it's, it's included in there. Yeah, pretty fun though. Um, yeah. There you go. There's some of the highlights. Any other questions about Black Card? Now, here's the thing. If you're like, oh, I have all these questions, I would just join and get inside. It's way easier to buy a car after you test drive it. I can talk you through the bells and whistles of the car all day long, but just, I would tell you, just come test drive the car. If it's worth it, great, you can join. If it's not worth it, we'll just refund you the $99. Um, and I want to do that. I didn't want to spend this whole call talking about Black Card, even though it's freaking amazing. We probably should just talk about Black Card the whole time. Um, this is a way that it's pretty low. I mean, all you're risking is a little bit of time because you're going to hop on, you're going to hop on with some coaches, you're going to hop on with your account manager, you're gonna get onboard onto Slack, you're gonna, um, and all that kind of stuff is gonna be pulled together. So that's how I tell you, uh, you know, come test drive it, come get in the car, see if you like it, see if it works well. That's how confident I am in Black Card. That's how amazing this product is. It's absolutely— okay, questions here. Let's see if something's in the chat. How often are partnerships pulled together with Black Card? Quite a bit. We don't— we let members just actively, they can partner with whoever they want. We have a— I would say a lot of Black Card members partner with each other. They join and they're like, hey, you know, I'm looking for someone who's a really good fund manager. And oh hey, I'm a good capital raiser and I'm a good. And people pull together their partners a lot of times in Black Card. I've seen a lot of people do this. No guarantees. It's up to you. There's we don't facilitate like we we help you meet people, but we don't facilitate partnerships at all. We do that. The last thing I'll share is we do fund launch partners. We just launched this. We've now invested into three funds this year. We will write checks anywhere from about two hundred thousand to about two million dollars into Black Card members. So we've invested this year again into 3 Black Card members this year that were, you know, crushing it. And we plan to do about 24 more of these funds over the next year, year and a half. So we are actively investing into Black Card members as well and we partner with them as well. So we'll take a— we'll take a part of their GP. We become partners with them. We're very selective with who we work with. That's what we do there. Yeah. Okay. Other questions? Yeah, and sorry, we're deleting spam comments in here as well, so, um, just FYI, you're dropping links and stuff and, and things, we're, we're deleting those, so FYI. Closing GP or GPs for seed capital get launched. Okay, cool. Uh, yes, we're investing in Black Card deals. Are there any extra charges? Are we talking about that as well? Scroll up a little bit. The backend is so Sexy. Could you please hit the highlights on the close? Oh yeah, we just hit that, so hopefully that hits you. Fund Launch 360 is a CRM. Yeah, so CRM, it's a CRM specifically built for fund managers. That's Fund Launch 360. Um, we built on top of to make it specifically for you guys, for fund managers. And we actually have had a lot of people join Fund Launch 360. Uh, I'll, I'll mention this, it is $1 per month. We, we tried to make it free and they, the, you know, the powers that be wouldn't let us make it free. So Fund Launch 360 Is we— the lowest we can make it was $1 per month. So that is an extra cost. It is $1 extra per month to have Funnel Launch 360. I failed to mention that. We tried to make it free. If we couldn't, they make you— they make you pay $1 per month, the software. Yeah. Um, cool. Will you be in NYC? NYC next week for the UN. No, I have a friend going. We're going to be in, uh, we're going on a cruise. Funnel Launch helps launch your fund, raising funds and getting your hand— yep, cool. All right, you guys, um, well, we have touched on a ton of stuff. We have touched on a ton of stuff last 3 days. This has been a phenomenal 3-day event. Hopefully this was valuable for y'all. Um, I'm happy to answer some questions. So, uh, questions about Black Card, I'm happy to answer. Uh, I'll stand for a few more minutes here. We can answer questions about your fund. Um, all the, all the stuff. All right, live events. Do you ever get to DC? Um, we have done— I've not done an event specifically in DC. We have done a lot of events though around the country. So like last month we did a— we— so we in Black Card, we do 3 core events per year. See right there? But we do a lot of extra bonus events. I would say in the last year we probably threw 24 bonus events. Just, we've had, you know, fund managers or coaches, they'll be like, hey, I'm in Charlotte, I'm in New York, let's get together, let's meet up. We do tons of meetups. There's 3 core events. One of the core events is like the cruise, or we do a big workshop event, but we do a lot of ancillary events in person. And by the way, people are actively, actually, I'll share my screen here, are all the time getting together. So if I go here and I go to events, We are— people are actively, hey, here's a few more picks. This is a meetup that they, they just threw. This is in Orlando. I did not attend. I wasn't in Orlando. But these guys came together and just said, hey, they got a ton of Black Crew members together and just hung out. Um, uh, Vu, one of our coaches, went to the US Open in New York. People, you know, went and made— there's all these different meetups. So it's Orlando. These guys did a meetup. Um, where were they at? They had 3 people show up. So anyways, we had a bunch of people. This is in Denver. We did— yeah, we did Denver. That was in August. I mean, this is just in the last few weeks. August 22nd in Charlotte, Black Card meetup. So a bunch of people are doing meetups all the time, talking. Somebody actually— they actually rented out the Intuit Dome and went to the Intuit Dome, which was very cool. So people doing all this one in New York we did. So anyways, South Florida, there's tons of meetups always going on in Black Card pop-up socials. It's been pretty cool. So we have different chapter heads taking on different places. We're actually adding different people. These are all the chapter heads right here. Different cities. So pretty fun. You can put me back to full screen if you want. Man, I'm squinting to see these. I am having a hard time. In the Black Card group, if I do not know exactly to launch, would I help getting selected the best fund for me? It's a great question, actually. Like, what if I'm not ready to like launch my fund? Um, I— that Black Card is actually amazing for that, uh, that specific thing right there. Uh, the— uh, let me— I keep switching back and forth. Let me go back to my iPad here. Um, it does not matter. We actually— I'll share a couple stories. We had a few people that joined Black Card. They were kind of more in this test early phase. We'll see if it loads here. They were kind of in this test phase. And, uh, Black Card, we can help people, by the way, if you're in the test phase, the syndication phase, or the fund phase. We had a guy join. I'll share. This is Voss. He joined. He had a he had an original idea to join with Black Card, so he joined Black Card. I think with a partner. So he had a partner. They joined Black Card together. They had this idea, and about three or four months in, the idea just kind of went away. Didn't for whatever reason the deal fell through. It just didn't work out. So he's still in Black Card. He then he's like, "All right, well, I'll keep showing up. I'll go to the meetings." He's been a very active member of Black Card. He's in there for another 6 months and nothing really happens. And he's, you know, working with people, talking, he's just making connections. He's kind of just in this, you know, networking phase. He then meets somebody in Black Card. They're doing a fund. He joins on as a partner and they go launch this thing. I think last I heard, they're, they're for sure $10 million plus, but I think they're going, they're well beyond that. Like out of this again, this took this was like 18 months in. But the reality was he got in the room; he got in the right room. He was by osmosis around people that were doing funds. He was they were actively or he he stress test multiple ideas during this process. He had all these different ideas. He kept going back to the drawing board and doing this process. He went he went step one, two, and then three, and like ah okay back to step two or back to step one. He kept doing this process. Over and over again, and then finally hit an awesome idea. And I would say it's way my my my journey was similar. I started to learn about funds long before I ever launched my fund. I got in the right rooms. I got in the right scenarios. I started to practice, and I had multiple. I've had tons of fund ideas I've taken through this process, and they were, and the market just hated it. And I went back. I was like, okay, I gotta go back to drawing board. And this. It was— this is an amazing way to iterate your process by going from step 1 to step 2 to step 3. You iterate this process and you get verbal and soft commitments here, and then and only then, then you go to legal, then you go hire the lawyers and you launch. I shared a story yesterday. I'll save the time. But so if you are, you know, what is it, September right now? If you want to launch a fund next April, you should join like now. So you can get in, you can test, you can work, you can get partners. Launching a fund is a big deal. It's not just an overnight thing. Being a fund manager is a big deal. Takes lots of work, lots of effort. It's not easy. It takes time. And by osmosis, you're the average of the 5 people you hang out with. Be in the right rooms, learn, stress it. That's why we made— by the way, Black Card is for life. This is for life because we understand it might take you 2 years. It might take you 2 months. I don't know. It's up to you, but be in the right room. And guess what? This is not a get-rich-quick scheme. Playing the fund game, I mentioned this yesterday, is a very long-term game. But if you play it, it's the best game on earth to play. This is the best. This is the game you want to be in. This is the best game on earth to play. Now, it takes a long time to play it. This is not a get-rich-quick overnight thing. But if, like, for me, if I play this over 5 years, 7 years, 10 years, 15, 30 years, imagine where we can be. And I've already been doing this for, you know, a couple years, um, and being in this game. So that's, I tell you, that's why we made Black Card for Life. Get in the room, get in the right, get in the right place, be in with the coaches, talk, stress test, move ideas, see what other members of Black Card are doing, show up to the events. And what we've seen is incredible success from Black Card members when they do this. Um, it's, it's phenomenal. So I'll end with that. Can we upgrade from Fund Academy to Black Card by paying the difference? Good question. Uh, the answer is it depends. Uh, I would talk to your rep and maybe some of my team can talk to you right now. Um, we have a 60-day window. So if you joined Academy and you upgrade within 60 days, you can do that. Yep. Um, but yeah, talk to my team and we can, we can make something work for you. We've had a number of people join Fund Academy, they want to upgrade, and we've had— you have a 6-day window to apply your payment to, to Black Card. Yeah, but talk to my team or someone on my team can reach out to you, or maybe drop a— drop your email to me or your phone number and we'll, we'll reach out to you. The cool thing about Black Card too, I see a bunch of people on here wanting to partner with people. Which is great. The cool thing about Black Card is everyone has hit a certain threshold to even join Black Card. So you're with a decently qualified group. Now, obviously vet and be smart and do your own due diligence before you just partner with a random person just because they're in Black Card. But you're with a pretty high quality group that are all swimming in the same direction of going towards launching a fund. Sometimes it's really hard to, you know, launch a— tell, tell your in-laws you're launching a fund like they have no clue what you're even talking about. Like, what? Like, what is a fund? Okay, like, what are you— what are you doing? Um, anyways, so good question there. Pull up the Q&A for me. Uh, you had that open a second ago. Let's see some of these. Um, yeah, what if we don't launch? I did that. Did you help? Yeah, actually. So Alex Hormozi and Leila bought our academy program and went through our academy. This is— this is before they were famous. They had like 3,000 followers on Instagram. So we were, uh— I hopped on the phone with them both and we talked and We, we helped them think through Acquisition.com. They were going to do a fund for a while and then they were like, well, we could just acquire these companies for free. I was like, yeah, that's actually pretty cool. Acquisition.com rarely writes a check. They're almost always just getting equity for free. And, and so that's what they ended up doing, which is awesome. So they're our academy members. They went through the full academy. We talked on multiple phone calls, walked them through what they were doing. Yeah. Now, I don't take He is. His success is his success. I'm not taking his success at all. But he did come through our program and we talked a number of times about their fund and he flew out to Utah. We went boating together. He actually gave us an— he was trying to partner with us at Fund Launch. He gave us an offer for Fund Launch at one point and we ended up not taking it. We couldn't come to the best terms for both sides. But it's still awesome. Still support Alex. Still think he's awesome and he's done great things. So yeah. Pretty cool. All right. Any other questions here? Drop them in the chat or the Q&A. What are average terms when you invest $200K as a GP? Oh, you mean with Fund Launch Partners? It depends. It's across the board. It depends on what they want. But if we're investing $200 grand into a Fund Launch Partners GP stakes business, a lot of times they want us to sit on their board. They want us to sit on their investment committee and/or advise the fund. They want us to be partners with them. And it depends how much they need. So if they need a lot more, we're going to ask for a lot more. If they need a lot less, we'll ask for a lot less. So just every deal is a little different. Yeah. Depends on what they need. A lot of— they're like— and sometimes they come in and they want us to— if you share my iPad again, they really want us to really take over their fund management. Role here, the middle. We're like, okay, you know, we can, we can do that. So we negotiate with them and go back and forth. So yeah, if you want to learn more about Fund Launch Partners, it's just fundlaunchpartners.com. Uh, we are almost exclusively though investing into Black Card member funds. We have a few times we're investing in outside funds. They got to be really good though, but primarily it's Black Card funds. Yeah, done and booked. Uh, do your network is worldwide or US-Canada based? Um, Thanks. We have people in Black Card all over the world now. Primarily though, it's US. Next would be Canada. And then, uh, we have people in Australia though, UK, Middle East. We have people all over the world in Black Card. Yeah. And people doing funds all over the world. People like, they have a, maybe they're in the United States, but they're doing a fund that invests into Africa, or they are in the United States, but they're doing a fund that, uh, invests into Brazil and Singapore and they do different things internationally. Yeah. Uh, I have a partner that works with me as well. If I join, can we both have access? Uh, the answer is yes. Yeah. You get one partner. So, Louis, if you, if you get one, you and one partner can join. If you want to add a third or a fourth partner, it's just extra cost per partner you have join. But yeah, yeah, you can do that. So talk to our team. Uh, if you book a call, we can walk you through all those questions. Yeah. So just, uh, again, if you go back to my iPad here, come in, come test, test drive the car. That's what we'd say. Um, come in and now I'll say this as well. Sorry. Yeah. Come in. $99 application fee. followash.com/apply. Uh, the cruise actually though is our one event where we invite families. Your families are invited to this cruise. So, uh, we've had a lot of people ask like, oh, my spouse or my family wants to come. Great. Now you have to pay for their cruise tickets, but they can come. Uh, we do this once a year. We have a family. So we did last year Hawaii, and then 2 years ago we did Cancun and we said, hey, bring your families out, you know, come have them be a part of this. Uh, your kids, you know, if you got kids in college or whatever, they want to learn about funds. Great. Bring them, bring them by. If you got a spouse that you need to get on board or something, bring them to this event. So the cruise is an event where you actually can bring your families. We do this once a year. Bring your families, bring your kids. I was a beneficiary of a dad who talked to me a lot about funds and taught me about funds, and it was amazing. Carter, what's the training like for becoming a fund manager in Black Card? World-class. Yeah, that's what we teach. That's the crux of Black Card, how to become a world-class fund manager. So phase 1, we walk through, we have our full— you can't see it here, but full curriculum breakdown all around phase 1, and then a bunch of resources. Phase 2, we have 2 sections here on curriculum. This is a lot around the management of fund, international feeder fund structures. This is American, European waterfalls. This is how to actually find asymmetrical risk in your fund, breaking down all your financial models. All are right here. And we actually— then you work with coaches to really do it for yourself. Phase 3, all around capital raising. Some of the frameworks I just mentioned, but all the curriculum and coaches, we go very deep on capital raising. And then 4, these are all a lot of the partnerships that you're going to use— legal compliance, audit, tax, capital raising, financial services, banking partners— all in here inside of Black Card. Yeah, yeah, pretty cool. So there you go. And then you have daily office hours you can meet up with, all that kind of stuff, all right here. Access to Fundraising 360 to build your list like we talked about earlier. Community of 1,000+ fund managers. Daily office hours are here. Black Card is $30,000. We just, uh, offered a payment plan at $7,500 times 4. But I don't— you don't even need to worry about that. What you need to worry about is— I— all I'd say is you can apply right now. You can come test drive Black Card for $99. You put an application in. My team and myself are reviewing these applications today and tomorrow. And then you have— you can test drive this until September 27th. And then from there, if you don't like it, we can just refund you the $99. If you do like it, you can join for $30 grand, or you can do a payment plan at $7,500 times You know, zero interest payments, uh, times 4. So, um, that's totally acceptable and awesome as well. And then you're fully in Black Card. You can come into the cruise. You're all the way, you know, you're in and you're with us for life. You're a lifetime now. You're, you're in Black Card for life. You're with us forever, which is awesome. Um, and you get to join this amazing community of 1,000+ fund managers. You get to come to the events, the office hours, the one-on-one coaching. Everything's included. Yeah, it's all in there. Pretty cool. So go right there. There's a QR code, you know, funlaunch.com/apply. Okay. I joined the academy. I'm excited to see how it goes. Great. Yeah, academy's awesome as well. I'm in for the 5 days starting today. Okay, awesome. Welcome in. Yeah, welcome in. I think you're going to love it. If you're in the academy, you want to test drive it? Great. Come on, come on and test drive. We've never done a test drive like this before. It's our first time testing this out. We're testing a test drive. So let us know how it goes coming on the trial. And we may do this again. We may not do it again. We'll see. We're— I'm— we're so confident in Black Card, though. Like, you're going to come in. I think you're going to love it. You're like, holy crap, I need to— now the next question is, okay, how do I figure out how to pay The money to be in Black Card forever, and yeah, I think you're gonna love it. So come on in, come test drive, come meet with our team members, all that kind of stuff. I think you guys are gonna love it. So Adam will drop it in for just a few more minutes here. Pretty sweet. Yeah, September 27th. So it's next Friday is your is your end date. So you can test drive it all the way until next Friday, and then on Friday you can say, "Hey, I I want to do this full time." Like I'm in. Great. We'll just keep you in. You're still in Black Card. We'll finalize payment. And then if you can come to the cruise, awesome. We'd love to get your details and tickets. And by the way, I'll say this though. Last I heard, we had, I think, 3 or 4 cruise tickets for free, meaning we have paid for the cruise. For whatever reason, someone couldn't use them. So, it's first come, first serve. So, if you're sitting there like, hey, I already did the trial for the first couple of days. I love it. I know I'm in for Black Card. Uh, I would join earlier and then get that free cruise ticket. Um, it's a full room paid for on the cruise for you. Um, and just as a, as a bonus and perk for, for coming early. So if you're already like, hey, I'm already in, I already know I want to do this, um, make sure to, to do that. And if, and if you can't come to the cruise, you can claim that free cruise ticket right away. Yeah. And if you can't, if you're not one of the first 3, that's fine as well. It's, it's, uh, you can just pay and we have a discounted room link to come on the cruise. But hey, Freeze cruise tickets. Why not, man? Why not get a free cruise ticket? Okay, I'm thinking about creating a fund that functions as a publisher, and the advance— and the advance will be an investment in their business. Is that legal? Creating a fund that functions as a publisher, and the advance— I think so. Yeah, I think that'd be— I mean, I'm not— I'm no lawyer, but I think that'd be legal. Yeah. Pay in advance. You're gonna create a fund. You're gonna, you're gonna, you can do seller financing or buy that business. Yeah, that'd be totally normal. Yeah, it's easier to click that link. Just click the link that Adam is dropping. That'll take you right to the right page if you're having problems, or you can just call in. We have a number live right there. I'd like to start an oil and gas fund. Great. We got a bunch of people in Blackheart doing oil and gas funds. Yeah. Is there a minimum required of capital a fund manager needs to invest from their own money to open the different types of funds? No, I don't think there's a minimum. What I would say is it should be a significant amount of your personal net worth, meaning in your fund, you know, if like, for example, let's say I started a fund, I'm running my fund right now, Ugly Unicorn, and I'm like, hey, come invest in my fund. And someone asked me, well, Bridger, how much money do you have in the fund? You're this big whatever dude. And I said, well, I've put $0 in, but I want you guys to put your money in. That doesn't go over very well. It's like, wait, you don't believe in your fund? Now I go, and me and Dan, we have $1 million in our fund. We're in this thing. We're in there right with you. I've got my money right with you. I have $1 million in our fund. That's a different conversation. Now, if you don't have $1 million to put in your own fund, that's fine. You could— what you would say is, I have put a significant amount of my personal net worth into the fund. So yeah, I'm an investor right with you in the fund. That's the answer. And that could be $10,000, it could be $5,000, whatever is a significant amount of your personal net worth should be in the fund because you're like, hey, I believe in this thing, I'm all in. If I'm asking you to put money in, I'm in as well. I'm right there with you. My money is aligned with yours. And so that's what it is. Yeah. Okay. Real estate, multifamily. Yeah, we've got a lot of real estate people, multifamily, ton of multifamily, ton in every way, shape, and form of real estate multifamily. I mean, we've got some really cool people doing exceptional things in real estate in our group. A lot of VC people, a lot of private equity people, a lot of hedge fund people. I mean, it's a fun Selfishly, I'll just say this: I make plenty of money running my own funds. I don't need to run Black Card or Fund Launch. I selfishly love Black Card from the network. I get to hang out with hundreds of fund managers that are actively running their funds. It gives me tons of insights in the market. I get to hear what's happening in real estate in South Florida. I get to hear what's happening in the forex markets from a guy that trades in New York. I get to hear from what's happening in the Canadian oil. Fields. It's really interesting to me. I get this huge set of macroeconomic data that's coming back to me on what's working, what's not, what's, what's, how are people raising money, what's working, what's not working, what's— it's very, very cool to have this big of a data set of active fund managers to, to teach me. I'm a member of Black Card. I'm a part of the Black Card. Like, I'm in here right with you guys. It's, it's phenomenal. Um, Love it. We'll love to have a crypto fund that has the charity mission. Very cool. Yeah, there's actually a number of funds in our group that are doing— they take like 1% of their profits and put them to charity, all that kind of stuff. It's very, very cool. What would be a fun concept for this scenario? I have a friendship with a celebrity music artist and songwriters producing concert promoters. I mean, you got to figure that out. It's wherever you could invest money that would produce, you know, an alpha return. We have people buying movies and/or miniseries. They invest into movies or, you know, when they're small and then they take them and try to blow them up. We have a few funds in our group doing that. Is there any way to make that bigger so I can see it? I'm like, man, my eyes, I'm getting old, man. I'm like squinting. I can barely read these things. Maybe not though. Here, let's see. I got a screen right behind the camera here. What would be a fun concept? Oh, we already answered that one. Are most of the funds in Black Card for real estate? What's the percentage breakdown of real estate? It's about— I'll give you rough estimates from when we survey our group. About 40%, 45% of Black Card is in real estate. So that's commercial, residential, multifamily, about 20% in private equity and venture capital, another 20% in hedge funds, another 10% in private credit, roughly. These are rough numbers and some funds kind of do both, but that gives you a sense. Yeah. Most popular though. Yeah, real estate's most popular, then private equity and hedge funds, and then probably debt or private credit. Friday's deadline excludes direct engagement after that date. By direct, meaning joining full tier into the Black Card program. So we have Friday, the deadline ends, and this— all these offers are— we're pulling away. The the 7,500 times four. I don't know if that'll be around after this from Friday. So this is a chance for you to test drive till Friday. The deadline is this quarter, this this month, end of the month, September 27th, to really to get all this and get moving on this new. This is the brand new black card, by the way. This is our brand new. You guys will be pretty much the first people into the whole new beautiful portal we just built. We built four different portals that you guys will work through, and and new brand new capital committee. You'll get a chance to come hear that on actually on September 24th. 4th, you'll have a chance to come. We have a whole group of capital committee members logging on to that'll potentially invest and, uh, and invest in a bunch of funds. So yeah, pretty fun. Yeah, crypto. I run a crypto fund currently. So yeah, if you have questions on crypto, I mean, there's a lot of different intricacies with crypto. I would qualify those as hedge funds in that category. And we have a lot of people doing crypto in our community. Yeah, pretty fun. Okay, one more time if you want to share my iPad. Here's Black Card again. Black Card is $30,000. We, we just opened up this $7,500 times 4, so you can break it up with zero interest payments. But today you don't need to pay any of that today. Just come and apply and test drive Black Card. That's all we're doing right now. This is totally refundable. Let me— I colored over this, but this is totally refundable right there. You can refund that if you don't like Black Card. It's refundable. So really no risk to you. This is a way you can come and test drive Black Card, get into FunnelHacks 360, get into all this cool stuff. See if it's worth it, and I I'm betting it's going to knock your socks off. You'll get access to phase one right here. You start going through the curriculum, start working on the scorecards, talking with coaches. You'll be with your account manager, all that kind of stuff inside of Black Card. So now we're taking serious people. This is not for everybody. This is for you that actually are you know really considering launching a fund, joining Black Card. We're looking for eleven people to join by the end of the month on here. So there you go. But yes, Black Card is thirty thousand dollars to one time. Once you're in Black Card, you're in Black Card for life, which is pretty cool. Now, after your first year, if you want to do a second fund or have, uh, you know, more perks and like redo all the, you know, re-go through all the coaching, you can join Legacy Pro for $83 a month, or you can just stay in Legacy for free and you get access to all the community, all the cool stuff after your first year. So that's how that works. Cool. Yeah, talk to our team. I mean, there you go. If you have questions, just go talk to our team. So funlaunch.com/apply. Pretty fun. All right, people. Well, fun day today. Thanks for coming out of the challenge. This has been a great call, great time. Last 3 days we had a 50-point rate basis point cut. It's been pretty awesome. So thank you guys so much. I'm going to sign off one last time. Grab that link if you guys are on the fence or are curious. You can call into our team. They're live right now. They'll answer your phone call and we'll, we'll go from there. So thank you guys so much, and I will see y'all later. Bye-bye. Bye.