Work with me at Home🧐💁🏼‍♀️🤓

Now you're gonna work with me from home. I'm about to go into a work meeting. With my company, so you can see that soon. Okay, let's go. Hello, how are you? Hey, hey, hey, long time no see. How are you?

Long time no see.

What's up?

Yeah, not much. I went to Busan. Summer came, Rachel came. You know Rachel?

I think so.

Yeah, she was at like the event we had for like pass by and the artist and stuff like that.

Oh, Rachel. Uh, yeah, yeah, yeah, Korean.

Yeah, like a pretty Korean girl.

Um, the tall one?

Yes, the tall one. Um, yeah, so she came and like 3 other friends and stuff and made new friends, so it's a good time. How have you been?

I'm good, good. Just hustling, working, you know what I'm saying?

Yeah, yeah, I know what you mean. I'll have to change my visa soon, so I must get to the office. Oh, Iskut's here. Hello!

Hey!

Cool, neymes!

There we go, we're all here. The gang is back.

Yeah.

So how did it go? On Monday.

On Monday?

Yep.

It was good.

He gave us a few comments. He looked like he knew what he was talking about.

Oh, fuck yeah. He's like a gangster, bro. Yeah, yeah.

He worked as a stock trader, was it?

Yeah.

And also he was a part of like startups and stuff. He made a few startups go public. I don't know.

His name on it?

Yeah, yeah. He looks like he has experience.

Where's he from?

How was Busan?

Great.

Yeah, yeah, it was really great. Um, you know, I'm looking for our next office to move down there, the, you know, right at the beach. It's pretty fantastic. No, it's an amazing city. I mean, I've been there a couple times before, but just just— it's so much— it's just so much more chill. It's like a city still, right? But it's more chill than Seoul.

So yeah, I see.

Yeah, and people like— it's— there's less like traffic and stuff, so a lot of people like have cars down there, um, compared to Seoul. And, uh, yeah, it's really good. Have you guys been?

Uh, no.

Mike?

Yeah.

What do you think about Busan?

Oh, it's cool. Like, I like it, but yeah, yeah, it's okay, you know? Like, I like the beach, but that's about it. Like, the people there are kind of hardcore, you know? Yeah, they're like, they even speak different, you know? They act different. Yeah.

Yeah, they act a bit different. Like Summer was there too, and she was saying that like she thinks that people, Koreans are more like forward there or something like that. They're less like shy, like in the city, like here in Seoul, they're more like not talking to strangers, but like in Busan they're like, like, yeah. So, but I like the old people there. They're really like, I don't know.

Because you've never been.

Why don't you go? I will eventually go after Corona. What?

It's Busan, you just drive or—

Okay, okay, okay. I will definitely go.

They're safer against Corona there.

Huh?

They're safer against Corona there.

Ah, yeah, yeah, yeah.

You have to wear a mask everywhere in public. If not, you have to pay $100.

Oh, it's getting worse here in Seoul.

Oh, oh, so I heard. It's getting worse in the world or something like that again. I don't know.

Yeah, I don't know.

Yeah, anyway, so yeah, tell me about like, uh, so Andrew, where is he from and stuff?

Andrew, um, from what I know, he's American, but he— I mean, he has Korean in him. His parents are Korean. Maybe he's Korean, but, uh, he's 100% like American raised, uh, professionally He did stuff in America before coming here. He's an American, so he does, you know, he did as a brokerage. He had a brokerage business in America and he has one here in Korea. And it's a lot of consulting work because you know how consultants are, right? Like they do a lot of the work, but they don't really get recognition because sometimes they just don't want the recognition.

Yeah.

And so basically what he told me in this case was he buys huge shares in companies and he helps them to go public. But yeah, having a lot of control with minimum eyeballs on you. And that's actually what I want. That's amazing. I think I might reach out to— honestly, I'm going to reach out to get some sort of internship there or something because I really want to learn from him. That's exactly what That's where my head's at. Like, imagine getting a lot of shares or influential amount of shares in a company that's very successful, but nobody knows of you, or a few people know of you. That's beautiful because nobody scrutinizes like, oh, what is this guy, whatever. You just make your choices and you make your decisions and how it influences. Stay back in the shadows. You know about the king and the kingmaker?

Yeah.

No. Yeah.

I don't know.

You don't?

No.

You know, there's like always somebody behind the king that actually controls the king. Like, there's like the king, and then there's someone called the kingmaker, which is like the guy with the strings controlling the king. You might think that the king is the king, but he's actually not the king. The one in power is just like the president, for example.

Like a puppet.

Yeah, like the president actually has no power. Like he can veto, but it could still be kind of open.

Yeah, yeah.

The one with the influence is not actually the president, but somebody behind the president. Cool. But basically, yeah. Any more questions?

Wait, let's go through the points that you mentioned.

Oh, she was asking about his background or something.

Okay. Yeah.

And he's, I think, looks of it, he's like 60 or older than that.

Oh, okay.

Okay.

Yeah. What?

I knew, I know an Andrew here who's like working in finance, so I was wondering if it was the same, but it's like totally different. So.

Oh, yeah.

I met him while I was internship. He knows Mirette as well. I mean, he's seen her when we were doing a workshop, like a 2-day workshop, her and Mirette.

Thank you for organizing that, and thanks for making the notes as well. I'm looking at them. Thank you, Michael. Yeah, I'm looking at the notes that you made.

Yeah, always. Always, because you forget shit.

I love my notes.

Okay, let's look over the notes.

Um, okay, yeah, I'm gonna problem— make a very apparent problem.

Present your entire screen, a window. Wait, I'm just doing my entire screen here. Can't share your screen. Google Chrome might not have permission to use—

What? Really? You can't?

Um, I have a firewall, like privacy thing, because you don't know like who might access your shit, you know?

Oh, uh, okay. Okay, uh, very big problem, tight budget.

Oh guys, I have to wait later.

Okay.

One more time, sorry. Is it working?

Yep, I see you.

Okay, cool. Yeah, you can see.

Okay, uh, nice.

Um, can you see this?

Yeah.

Okay, cool. Um, yeah, so the first, like, basically the— this is the things he said. From the beginning, I just put it in order, but I highlighted the most important things. The first one, he talked about us and how, because on the business plan, you're very apparent, we can see that you're the CEO, so immediately one of the things he did was go onto your LinkedIn, check you out. And when he, you know, like when he checked, because number one, you had your age on there, like 23, and that's fine. You know, there are a lot of like young people with, you know, but so after he saw that, he immediately wanted to see, okay, she's 23. Let's check out her LinkedIn. When he did that and he saw, he's like, okay, this is fine, but this is not enough to run a company, whatever. And so he's like, if she brushes up on— if all of us brush up on our LinkedIn, like he said, it's not a contract. So make like, really amp it up. Like, but he said, don't go overboard. Don't go to a point where like saying you're the CEO, you made Apple or something, but you know, like he said, do something like that. Like make it better, make your, LinkedIn more attractive because you're the goddamn CEO, you know?

Yeah.

So make it like super cool, something badass. You've been involved in other companies that went public, blah, blah, blah. Or no, no, not public, but like that were successful or something.

Yeah. Yeah, anyways, you just mentioned that, and what do you think?

Me? I mean, usually I include my age in things because I think it's like, in my eyes, it's like, like a more impressive thing. It's like, oh, you're like 23 and you're doing this, rather than like 33. But I know in Korea it's like age is like a thing, and to people they might like look down on me, you know, because they're like, oh, you're 23, you know less. So I mean, I could try taking out age just to like try it.

Oh yeah, I guess.

Yeah.

Um, yeah, what about like, maybe you can all— so yeah, he was a bit unorthodox, but he was like, you know, make your LinkedIn better, make it look good. I've seen something like that.

Probably it's good to have like more references, I guess.

I don't know.

Yeah, your age could be an advantage for people to say good job, but for people to say good job and here's my money is two different things.

You know?

Yeah.

Like you're doing something, but you know.

Yeah, probably more like under the recommendations list, um, of LinkedIn, if you know that one. Uh, I'm trying to see where it says my age, actually.

No, your age— no, website— I'm not— on the, on the business plan.

Oh, not on LinkedIn, on the business plan. Ah, okay. Ah, okay.

Yeah, I can't see the age on the, on the business plan.

Okay, I'll pull that up.

Okay.

Yeah, right here, because the CEO should stand out on the Because it's here, we'll just move on.

What do you feel?

What do you think?

Um, yeah, uh, taking out the age, yeah, I'll give it. I think it's worth a shot, so I'm gonna go in. Now I got the business plan up.

Okay, uh, yeah, you can do it later, it's fine.

Okay, another thing we have, the most important thing, because that's what he looked at, and he said the problem really didn't stand out to him, right? Like he said, you know, it wasn't really apparent what we were trying to solve, you know? Many, many things that have been solved, it's like he said, make your problem the biggest problem there is on Earth. Like this is something that is super duper important that we are solving, right? We are making some work. What, you know, our company will change things, will make things different, will better things, you know. And so we have really emphasis on the problem and really, you know, talk about how we're going to solve that problem. Like when they read the business plan, It's also like a way to sell. So like they should be getting excited when they're reading the front, not like, okay, this is what that is.

Yeah, I guess making the problem clearer and then just be like, like you said, the biggest problem on earth. Like people need to meet, you know, you know, they're lonely or something like that. They need friends, they need business partners.

Um, well, yeah.

But that's not—

yeah, exactly. But that problem is they can't get it because they don't have a way to connect.

Like, yeah, like, right. Like, I mean, especially during Corona, like, less people are like getting the chance to like connect with people. Like with PassFi, they connect now and meet later, like after like the corona goes down or something, if they feel uncomfortable.

Or we could also, like, because people can't leave their house, with our app they can see the people that are around and want to hang out. Yeah, and are just chilling at home, and so they don't have to go far.

Exactly, quickly, like come over and watch a movie or something like that, or over to my house.

I'm a stranger, but still. Oh my God, if that happened, that's why I swear to God.

What?

If that happened, like if somebody comes over to my house because of that.

Yeah, that's why we just gotta throw it out there, people. Um, oh, like at the party also, I have like one, like kudos to us, like we made like something happen. Even if it's small, we count it all. That, um, from the event we had on the 31st, I noticed like one of the singer girls, one of the Korean girls that sung, and then one of like the people that we invited to the party, like it was like a friend's friend or something, now they're like dating because they met at our party.

It's a good thing.

Yeah, so that's like, you know, offline like occur. Like, that's what we want. We want more people like bumping into each other, meeting each other, and then now like, who knows, like they could start dating, you know? And who knows what comes after that, like happiness or sadness, I don't know. But they're happy, they're going to dinner tonight, you know, that kind of thing together.

True, true.

Yeah. Oh yeah, she did get the guy.

Yeah. They started dating with the Stitch guy. Yeah.

Oh man.

So like—

He poured a bottle of tequila down my throat.

Yeah. He was part of the BMW alcohol crew people. Yeah.

Yeah.

BMW.

Yeah.

So like stuff like that, it's cool. Like that kind of stuff like makes me smile when it's like, oh, like, you know, because we did that, they got to meet. You know, and same with the Passfy app. It's like if we see like on the, even the statistics or the analytics, like people connecting and matching, then it's like, okay, cool. Like we're giving this like chance to like, like, because if people like fall in love and stuff like that, it totally can change their world, right? Like, like it can make them a lot happier. We can help people like with, I mean, of course, like if they break up, it's sad, but like while they're in love and stuff, it's all happy and stuff. Or yeah, anyways, so making the problem really stand out, right? How to like make that like one sentence clear and then people be like, yes, this is a huge problem.

Yeah, okay, okay.

Um, yes, okay. And this one, it goes for me, but everybody should know about it. Um, have a tight budget. So he asked if we had a spreadsheet, exactly what we're gonna be spending money on, how much money we need, how much money for how long we need it for. So, you know, how much, and then what we're gonna spend our money on, and how are we gonna spend our money, and when am I getting my money back. So things need to be itemized. So he's like, you need a budget, you need a tight one and you need a budget and it has to be clear. Your rent, the salary, equipment, all of that. We need to have it on a paper. I mean, on a spreadsheet. And yeah, that's number 3.

And yeah, finish.

Yeah. We can make a meeting like one day, Michael, and like you and I can work on it. Together and we can, like, Kristin can tell us about any extra costs other than that he's already sent us to add to it.

Yes, yeah, yeah. Even, uh, we include salary? Is that too early?

Oh, uh, no, no, no, I think we should do future projections, like, because if an investor, like, comes to us, then I think we should put a salary in there too, definitely.

Yeah, so check this out. This is like, uh, it talks about runway and then burn rate and everything. So it's like how much money you have, or if you're asking for, and then how much money you spend every month and how long you're gonna spend that money for. So it's like $10,000 a month and you're asking for $100,000, so your runway is going to be like 10 months, right? So we got to have some kind of like some, something like that so that we can explain how, how much money we're going to burn. Then we can do it very efficiently that way. Does that make sense?

The burn rate is 10,000 a month and you have 100,000.

Yeah. So eventually we got to like, after itemizing these things and having a list of things that we are gonna spend money on. Eventually, we should have some— the end goal is to have, like, I'm gonna spend this much money every month, and then I'm gonna ask for this much money, and this is gonna help me launch my product for this long, and I'm gonna use, uh, the money that you give me for, I don't know, 10 months, a year, 2 years. So yeah, yeah, maybe that should be the end goal. To like put this in a way that it really makes sense.

Yeah, how do I—

so I was like, if you remember at one of the interviews, the guy, there was like an interviewee, he was like, how much, how long Is your— what is your runway? Yes, something like that.

Yeah.

And apparently it's something important to have as a startup, how much money we're willing to spend and for how long we're going to go with, like we're going to use that money for.

Yeah.

Yeah.

That kind of ties into, you know, like everything else on the business plan, like marketing plan.

And yeah, the marketing plan especially, um, like he said, we need to strengthen that, we need to make that stronger.

Like, what is it exactly?

Uh, you know, how are we going to get our users?

The timeline, yeah, detailed.

What is that?

Yeah, because I've like, for the marketing timeline before, like even the timeline in the business plan, I've just put like very general things like in the past before Corona, I was like, oh yeah, we can like partner with these like offline businesses and festivals and stuff and advertise there. Um, but then like suddenly we have to switch to do things like mostly online and maybe a few events here and there. But I never said it like quite in detail. It was very like general.

Yeah.

By the way, I'm gonna meet Ko next Thursday. Um, He's happy with what we did and maybe we can like work together with him. So I'll meet with him next Thursday and like talk.

That's so cool.

Awesome. So what kind of idea do you have? We don't have a marketing team, so I guess we are the marketing team.

Uh, well, yeah, I guess. Yeah. We have a marketing team, but, um, we didn't really have many things to like set them up to in the past.

So, okay, yeah, now because we were approaching the launch party, um, to sit down with the fucking marketing team and have them come up with a marketing strategy of how we best can effectively use it during the launch party and thereafter. You know, it's not just, uh, you know, one can have one plan and then what's next. But like, after, how are we gonna retain our user? You know, when we take their emails and send them emails, or— yeah, I'm not versed in a lot of marketing, but yeah, right.

Remember, remember, Hiskis, whenever we were doing like interviews and there was like one like really good guy for the marketing team, he ended up not being, being choosing to work together with us. But you remember his name was like Taeo or something like that? Yeah, what he was like, he was very like He knew marketing and, uh, like, it was like Tae or something like that.

Tae?

Something like that.

Was he Korean? Korean American?

No, he's from like Central Asia or something.

Yeah, he's not American. He's not Korean?

No, no, no, no. Anyways, but this guy, like, he was getting— he had like, he he had like a master's, or he was getting his master's in marketing. Like, when speaking to him, he really— he like, he knew— he's like about making the like marketing plan and all like the like specific marketing terms and lingos for it. Um, like, like he could work in like, I don't know, like any like— anyway, so he just seemed very experienced, but I think like, um Like our marketers on our marketing team, they still— they didn't like get their master's in marketing, or I don't know how to put it exactly, but they just have to do their research whenever they're trying to figure out how to do marketing. Their background's not in marketing. That's what I'm trying to say. Um, but I guess they could always do their research when it's like making the marketing plan, even though They don't have a background in it, university-wise. But yeah, so okay, let's just keep going through the points first.

Yeah, I'm gonna take this—

said the same thing.

She said they haven't been active for months. Yeah, so you, and you, uh, a new team or ask them to— no, maybe keep whatever, whoever you like.

I don't even know that. I mean, um, like, yeah, I mean, we've had them. I guess it's gonna be the end of their, their contract, uh, next month on December 20th. What?

Contract?

Yeah, we have contracts.

With them?

Yeah.

So basically, like, if we need them for certain things, then they, they should like follow, they're going to accomplish that. And if they don't, then we like have the authority for them to leave the team just to make it like more like people feel like official thing, like with contracts. And if they want some certificate after completion of the contract, we can give that for like the next company they want to work for or whatever. Um, yeah, so, uh, you haven't met any of them. There's Georgia, um, Dia, and Leo. And, um, yeah, last time we spoke to them was like maybe last month or something like that. Um, but like what I found, we haven't had like I mean, I don't know much about like marketing exactly. I've done like PR work, which is similar but different still. Um, but I feel like a lot of times we have to like tell them exactly what to do, and me not having a marketing background like pretty much at all, like I don't know exactly what to tell them what to do. So it seems like, yeah, I just don't know exactly what to tell them to do. Like we have them do some projects and they help us and like with the like filming and stuff like that, um, but it's like it'd be good if they came up with like their own plan and for like Instagram for instance and just executed that on their own, um, but yeah, I guess I— yeah, I I don't know what to do about that.

Why don't we set up a meeting?

Yeah, because we used to have weekly meetings with them, but then it's like, um, yeah, then we stopped having weekly meetings because it seemed like there wasn't a whole lot of tasks. Or maybe I just couldn't— I didn't know what kind of marketing task to give them or something, you know?

Yeah, yeah. Because right now—

what?

What?

But now we do. Now, now we know, like, you know, we, we really need— we really need them now. We really do. Okay, like, yeah. Let's set up any money if we don't get users. We're getting users.

We need to be market confident.

Yeah, let's set up a meeting with them. So I'll just say in the investment channel, I guess.

I mean, you know, you don't have to do all of this right now. This is just for you to digest the information.

Uh, Michael, can you be in that marketing team meeting, like, whenever Mita and I run it?

Uh, sure.

Okay.

Okay. Because like I said, I don't know, like, exactly, like, what to tell them. Like, okay, make the marketing timeline and stuff like that. Or yeah, and we update them, like, with, like, where things are with the app and Lunch party and stuff.

Yeah, yeah.

Um, okay, so we can keep going through the points.

Yeah, okay.

Um, I'm just gonna pass this. I'm gonna go through this one. Start with an LLC in Korea to properly protect yourself. Then when ready, have your US corp— have our, like, our US corporation buy out the one here in Korea. Yeah, I think it's because he, he said like getting capital, um, is easier in America, plus stuff like that. But it doesn't really matter. The thing that matters is here, uh, get an LLC to protect yourself. That's protecting ourselves is getting a limited liability company. Yeah, because anything legal goes down, instead of us being the corporate culprits, it's going to be the company. So the company will be sued, the company will go down. If we can't pay back the investors, The company will be fucked up, but we're fine, you know? Like, the CEO is never going to jail for not being able to pay on a debt or, you know, on equity, unless he defrauded, you know, the people. But they have to prove that, and they can come for us. But if we didn't do anything wrong and it's just the company, then it's fine. We just borrow. So we need an LLC. I think you're working on a business registration.

So yeah, like, literally all we need is the office space and then like, that's when we can get the business registration. That's what the pickle that we're in now. Like, like I could go and start processing it tomorrow if I just like, if I should just go like pay for the virtual office. Basically, maybe I need to just like go.

Do you have to do like 6 months payments to get the virtual office?

I think so, yeah. So like just from the emails I've been back and forth with them, you know, I tried checking out the office in person before, but like it was like weird, it was like nothing. So I'm gonna try to go to their like main office wherever it is in Seoul. Maybe I should— you think I should try tomorrow?

Yeah, that would be okay. Because we have the business registration, we can try like something else like to make money.

Yeah, you're right, like earn it back in the future or something like that.

Yeah, it's an investment, we can get it back. I'll help with the payment when I get my salary.

Okay, you can split it up on this and see what we can—

Yeah, like literally the, like, the, like, largest stress right now is that business registration. And like, yeah, so the large— like the office space to the business registration. So, um, okay, I'll just— I'll go in person to that JD Han place.

Yeah, started the first process, which is file a police report.

Oh good, did you tell your embassy?

No, I didn't. I didn't even call them yet. I'm gonna call them soon.

Can you just go in person? I think if you— you— how does it work with Ethiopia?

Ethiopia?

Yeah, Ethiopian embassy.

Yeah, but how does it work? And like, do they like just send you a new one, or do you have to go take a new picture and apply and stuff?

I have no idea. Uh, okay, I'll plan to call them tomorrow and what's up.

Okay, okay, so tomorrow— okay, you call them tomorrow, and then tomorrow I'll go to this place. It's the JD Han place. Because like, I kept sending them emails, but they like just stopped replying to me. Maybe because I like have too many questions. I'm like too annoying to them, so I'm just going to go in person and ask them. I was really— okay, so I'll go in person about office space tomorrow, and then so we can get this show on the road. And then, um, the, uh, what was I going to say? Okay, uh, uh, why is my, my head just going boggled. Totally. Okay, let's just continue what you're saying.

Um, listen, I was— I was not talking, I promise. I didn't do anything wrong. This wasn't you?

We said something. Wait, I didn't— I didn't hear you, right?

All right, we didn't say nothing. We're not snitches, okay? Hey, I'm not a snitch. Why are you looking at me like that, man? Yo, bro, Kristin.

Yeah, I don't know what's happening.

Did you guys have the private dinner with, uh, Mirette yesterday?

No, because I got in too late.

Yeah, yeah, I figured.

Good, because I thought I wasn't invited.

I was like, you were supposed to be there. Are you kidding me? Yeah, so, uh, we reschedule and make sure Mike's there too.

Yup.

Uh, yeah, me too. Summer is like out of town, I think. I think she left town because I think her place Yeah, because she got a job, like a, a job for 2 days, like a little business trip job, like out of the— to Jeonju. So she has to work out of town for 2 days. Okay, till—

I like—

we're going till Thursday, so I don't know if like I'm just going to be like by myself. If y'all want to have the like little birthday celebration here, like, what do you think? One, one of the days this week, if it's like I don't know, it could be when summer's here too, like if it would be like Wednesday or Thursday, or we can put on some music and yeah, I love it. Yeah, I love it.

Oh, I met it.

I met it. Hasn't been over here, so we can have the cake here. Yeah.

Wow.

How about you, Iskis?

Yeah, I've been there once. Yeah, it was cool.

Many, like, like over 5 times.

Yeah, you live here, right?

I raised the kid.

You live pretty— you don't live that far from me though.

You live south again. Yeah, almost south.

But, uh, yeah, okay, okay, let's, let's rush through this.

Okay. Yeah.

Okay. All right.

Okay, number 5 is important, I think. Have a professional writer write your business plan. And, uh, no, no, and this one is not important.

I'm trying to figure out what prospectus is.

This is for when you're going public, like when you're helping.

It's like Latin. Caesar Augustus. Okay, okay, okay.

Um, important thing here is having a professional writer write our business plan. You basically got it down, so the guy is not, you know, uh, or the girl is not going to, uh, do a lot of work. But it has to be— I don't know, he just said how Look, I don't know, it's coming from his mouth, and I think his kids— please tell Kristin how great of a guy he was. Like, there was no condescending tone, there was no looking down upon us. Like, he literally was treating us like a client. Or how— or is that just me?

Yeah, yeah, definitely. He was really nice about it, and he was like, even though he was like telling us the right things. He was trying his best not to offend us. He's like, "I don't want to offend you in any way, but this has got to be like this," and everything. He was nice enough to be real with us.

Honest, yeah.

Yeah, yeah. And he talked to us for about an hour and 15 minutes, maybe an hour and 20 minutes. Really, really busy guy. And I think he even had to push some schedule And he talked. He was the one talking for an hour. Like, we didn't say anything because we were confused. We were just trying to take everything in. So we were listening to him the whole time. I'll one day introduce you to him, right? If we ever have time. Yeah, so he recommended that we get a professional writer., maybe $50 or something or less to restructure our business plan and make it look professional as hell. And also memorandum.

I don't even know what that is, but he said memorandum is like an agreement between the shareholders. Okay, this person does this, this person does this, this person holds this kind of equity and everything. That is where all the stuff goes.

Oh, Oh, okay, okay, yeah, that's actually number, number, it's around here, something about, oh, number 14, equity division amongst. So whenever we go to the CEO, which I mean, we go to the Western, be able to make sure we have all that covered.

Okay, yep. So we need memorandum, professional writer for business plan prospectus. Okay, uh, 6, angel investors.

Oh, this one? Oh, okay. Angel investors want to come in. This is a characteristic of the investors.. And as we know, angel investors are like base number 2. Number 1 is family and friends. Number 2, angel investors. Number 3, VC funds. Number 4, equity funds. But okay, after VC, we're— we shouldn't think because we have no track record, so nobody's coming towards us. Um, so these 8 investors, what they want to do, if they're interested— even if they're interested and, you know, they, uh, agree to invest in us, uh, money, they want to come in, right? And they want to reorganize the company, or at the minimum, we'll want to be an active investor, right? Not gonna have this beautiful angel coming down from above, giving us a shit ton of money and just keeping quiet about it. He wants to know everything. He might even ask for the team to be restructured. Maybe not go that far. Maybe he might go that far. We don't know. They're humans, they're not robots. So they might say this person is not qualified, get him off the team. We don't need Michael here, fuck him, he's like an appendix, you know. So if they do that, then you guys have to vote yes or no. And, you know, like, if you say no, you offend him. And if you offend him, then you lose the opportunity to, you know, the prospect of him investing again., right? So, you know, that's a hard call if he calls one of us out, uh, you know. So that is, uh, yeah, you see what I'm saying here? So that's the investor. So then number 7 is the VC. VCs are expensive. That's the most important. Super expensive and they will go after you. I don't even consider them— when I hear VC, I don't venture capital, I hear vulture capital, like, because they're fucking animals, you know. So these people, like, they will ask, like, for 80% of the company or more, you know. Um, and that's when we're fighting that. And so like, but they do provide a lot of like consulting and they'll help us. They'll also give us a lot of money until we, you know, explode and become huge. But they will ask for a huge, you know, ginormous share, a gigantic share. So that's just a VC, they're just expensive. He said different ways of financing, be creative. On ways of financing. So like, be super creative on how you're gonna get your fund, right? You can create blocks. So if you want to raise $100,000, create blocks. So a block is like, one block could be $10,000, right? $10,000, $10,000, $10,000. We can go around, knock on people's doors, you know, uh, get that crowdfunding. Yeah, that's awesome too. We can let people know by video, maybe some pictures. Yeah, we can even make it like a charity. Koreans nowadays are so isolated. Please help us help them.

Yeah, exactly. Do crowdfunding.

Let's start now. Oh, these poor Koreans.

And then so Yeah, so like GoFundMe, right? Or Kickstarter. Kickstarter.

Kickstarter too. Yeah, yeah, yeah, Kickstarter. I've been on it, but I haven't used it. We could use that. We could have— we could use that and we could even throw, because, you know, we're already throwing parties. We could throw a, uh, uh, raising fund party. I don't even know what's my— what am I saying? Uh, uh, investor party? No, fundraising party. Yes, there you go. Fundraising party, right? For the kids, for our company, a fundraising party. We could, you know, invite all the players We can have them here. Maybe that's dangerous because if we put all of them in one room and we fuck up, then we're done. You understand what I'm saying? But if we go to them individually, right? Maybe that's better because they won't have time to pick up the phone and call their friend and say, don't invest in that company.

But it's up to us to figure that out, how we're going to raise funds.

Okay, and don't give away too much. That's number 9. Do not give away too much, you know, because at the end of the day, the more equity someone has, the more voting power they have. And we could oust Kristin Fagerback, your position, because of some stupid fuck in Norway. Okay.

Wait, are you from Norway?

I have two passports, Norway and America.

Okay, why did I say Norway? I meant some stupid fuck from your enemy. Who's the enemy of Norway?

The enemy of Norway?

Yeah, pretty peaceful.

We're peaceful. Oh, that's—

come on, man, you need enemies, man.

Norway?

Um, I don't Okay, I'm just gonna say Saudi Arabia. I don't know, some rich guy from Saudi Arabia invests in our company and then he decides that he doesn't want you anymore and, you know, he picks somebody else. And that's because we gave him a lot of shares in the company. Well, because of that, we have to make sure to keep a strong company, so the power is on our side, or at least equal. Okay, so number 10 is— okay, this is important. Number 10, investors want to see an exit strategy. So no matter what, even though we don't want to sell or blah blah blah, we still need an exit strategy. You know what that means? Do you know what an exit strategy is?

Not exactly.

You can sell your equity in the leading company.

Ah, okay.

Yeah, you can sell the whole company, right?

The whole company?

Yeah, yeah, I think it's the whole company. As an equity holder, you can sell your equity and exit. Is it the whole company?

Let's say, yeah, it is. It's like, imagine You build a software business that's really, really good, and then Samsung buys you out. You know, that's an exit strategy. So like, you're working your way up for Samsung to be attracted to you, and then they buy you up for a huge sum of money. Where are we going to sell to? Oh, we could sell to one of the other big players in Korea., right? We can have that. It's not like we're gonna do it, but we still need to have that sort of idea there because there are two types of investors. One, they're enthusiastic about the company and want to see it become a unicorn. And there's another type of investor that just wants to make their money back as soon as fucking possible. Less than 5 years, they want to make their money back plus more. And so they're like, where's your exit strategy? So by having one, by having an exit strategy, we can, you know, cover all our—

you understand?

An exit strategy.

Yeah. Like if someone wants to buy us out, right?

We're number 10, right?

What's—

yeah, are you in Ethiopia? I don't know.

Okay, um, number 11, leverage. So leverage, he talked about leverage. Can you hear me?

Yeah.

Okay, so leverage, he was talking about leverage because when you go to an investor and you ask them what you ask them like, I have this idea, but you don't really have leverage. You don't have like, since I have this, you gotta, you gotta find me. But then imagine if you have like 5,000 daily active users and you have those users, you can go like, you know, I have this many users and then it's important to have leverage. Yeah, it's not just an idea. Something that is like growing. So you gotta, you gotta give this much money. Even like if someone invested on me before, this company has invested on me before, so that means I have good value, right? This is my valuation. So he said that would be our leverage. Uh, yeah, so number of users, percentage growth, unique and strong business plan. So yeah, I think those are the key things. Yeah, I guess.

Got it. Yeah, figure out our leverage.

Yeah, yeah. So we gotta figure out the— like, we gotta do projections on the business plan and get more users and everything. We gotta find a way, like a marketing strategy, to like get the users. So maybe doing like the parties is actually a good idea. Enough parties, there's going to be a lot of users that use the application. And even though they're not going to our parties, they're eventually gonna use the application somewhere else. So it means the application is growing and people are gonna start using it. Exactly.

Yeah, yeah, you have a good point.

Um, Yeah, should I continue?

Yeah, so yeah, get a board of advisors, get some experts on board with the team. Is that— makes sense? Yeah, so like Hassan says, like, rather than being like a worker, he wanted to be more of like a mentor. So it's like, like someone that helps like advise, right? So if we get more people that want to like Like Andrew, like, did he say that he might— he wouldn't mind being like an advisor?

So we— I think we asked him and yeah, I think he might have dropped the question. He is happy to only just talk and see how we can help, but I don't think he wants to like commit to anything. I don't know what my copy is. Okay.

Yeah, so we just look for other advisors and like, it's not like they have to like— they're not working for us, it's just we talk to them like once every few months and like he says like it looks good on paper And like, like it says here, like it looks good on paper to—

yeah, have them.

Like I said, I've seen it before, like on paper people write like their advisors, or like on the website they say like who their advisors are.

Yeah, but having those people listed down below will have like a— will sound more plausible.

Right.

Yeah, so maybe having like a feature advisor still, someone who is more on the media. Yeah, exactly.

Um, this is good stuff.

Yeah, it's really good. And see what's working for the company.

Yeah, so I guess not every few months, but more frequently. Like, we have like a meeting with them every couple weeks, maybe, just talking.

Yeah, that'll be handy. And the teamwork is a lot of things, I think, in testing. Lost. I think it's like he said, he mentioned like that range of money that we can ask for. So you can ask for a normal, like normal person, but I can't have a loss with that. It's more than that. You gotta find easy, like, a legal person to actually give you money. Not, not just some, just not a single person, because I think he meant that. And we gotta find out more laws about these things. You mentioned— maybe Michael can explain more. It's, uh, more of his expertise, but I think he was talking about that.

Okay, okay, we can come back to that. Yeah, equity division amongst the the team, right?

We need to make that.

Memorandum, random memorandum.

Memorandum, yes. Yep. So we got to have an agreement of how, how much shares we have in the team. But then even though— so one of the, one of the things that, that is, that might be tricky is we, we are not allowed to have that visa to start a business, but we are not legally supposed to be part of the business.

Like in—

in Korea.

That's what we need to meet with the guy about. Hongseok.

Yeah. Even last time we asked him, I remember, and he wasn't sure. He was like, am I allowed to do this? I asked him that and he said, I'm not sure. You got to talk to at least your pediatrician. Because it's— they gave me that visa, and if the other side gives me like a startup visa, it means they're overriding their authority kind of thing. I don't understand. He said something like that, right?

But if you can hold shares in a company, can I hold shares.

Yeah, so we got to make sure. Got you. Goodness.

Yeah, um, as a—

yeah, we got to talk about that eventually. Even, even without that, we got to talk about how much each of us have like shares. And yeah, we got to have the community with merit and might around eventually, right? Even though it's not a ritual event, we can do it. Even if we talk about it, we know what we're going to say to people when they ask us these questions.

Like, yeah, I think— I don't know if we need— like, it almost sounds like we need like a lawyer.

Yes, probably to write this. Well, you can actually— so before, when I was in Ethiopia, I had to like do these things like twice, one with the previous company that my friend took as a lawyer, but and when you get the memorandum, it was like, uh, it gives you this many sheets and everything, but then you gotta have your name has to be in the business license, from what I remember. But then that's in queue. So our pictures and our names, they had to be in the business license. After that, our names can be in the memorandum. Oh, that's how you do with the business license. So business license is the license to do something, but that in order— I think, I think in order to get the license you will need some kind of memorandum if you're dealing with that group of people.

Yes. Yeah, it's true.

Yeah. So in order to like say, um, I own this business, you gotta have responsibilities. Most of the time, the responsibilities and how much— how many shares you hold and everything. So there's all that.

But I'm wondering if, like, I mean, you guys are legal residents in Korea. I'm wondering when we go through that process with the help of the Seoul Startup Immigration Center, if in the memorandum, and when we say like we give— have to give the shares list, um, if we can write your names, you you know, just there, like your residence in Korea. Legal residing residence, right? I mean, we are foreigners, so we always have these restrictions in all kinds of ways. But yeah, we need to figure out if this is possible. That's possible.

Yeah, we gotta talk to immigration. Yeah, I don't know how we can even check that, but I think the Seoul Startup Immigration Center would know.

Like, they're the people helping.

That's where he works.

He works at another place. They all sound all this— they all— the organizations sound all the same. Like, it's freaking confusing. All like, I've— yeah. Anyways, but the Seoul Startup Immigration Center is like another place. I've never met them, but they've said like to you and I that they can help with the corporate establishment. And so I'm in touch with them. I was emailing back and forth with them last Friday and they're just like, they're just like, send us your— you need a— so like I showed you guys, they need— they asked us to show the 6-month office space. So I just need to get that and bring that to them because they don't want to like just talk back and forth about like all our problems or stuff. They just want us to like give them what they want and then they can help us. Like kind of they're like more like government style, you know, it's like you go to the immigration office and they're like don't want to like help that much. They're just like, "Where's the papers?" And then you're missing something and it's like, "Okay, we'll just bring it," you know. So I think they're— but like once we start walking through with them and like they're making stuff together with them, we can ask them about this, like the memorandum and like getting your name in there and Mirette's and Mike's and stuff. And yeah, because they're supposed to help us with that, at least I think.

Okay.

So just—

Alright, so we still gotta decide how much equity we're offering to everyone, how many people are involved in this. This is going to be an official document, and when we go there, we need to write that, remember? We need to like have that down, maybe. So let's, uh, yeah, at least let's have like a— let's have it talked over, okay? Yeah, so that we don't like— just a pitch or something, everyone's gonna ask how many shares do you hold or something. That question is gonna come up. It's good to have it down.

Hey guys, my name is Michael. Try to speak through.

You sound like Arnold from Assassin's Creed. Is it?

Yeah, that's true.

You didn't just like ingest some of that?

Did you?

Look, I'm just getting something to drink. What?

What is that?

Looks like WD-40.

Yeah, you're using cream. Isn't that like a cleaning thing?

No, I put it in my mouth.

Why do you put it in your mouth?

I think I'm gonna die now.

Um, oh my gosh, you're too smart to die. Don't die.

Oh, thank you. Why'd you say that, man?

You know, you forgot to—

you playing with me? Are you pulling me, woman?

Huh?

Is this your tactics? What kind of voodoo are you using on me right now? Don't say that. I don't like that. Hurts my ego. Look, look, this is— my breath smells so bad that I have to use this, you know?

Yeah.

Yeah.

Oh my gosh, this is so loud.

Oh no.

Okay, let's keep going through the points.

What page— I mean, what number are you guys on?

So can you explain number 13?

Number 13?

Yes.

Oh, look into laws. Look into the law of soliciting investors and Korea. So remember his case? Remember I told you about Reg D? Yeah, so you can Google it. It's like Regulation D, which is in America. You don't necessarily need a license to solicit investment from people, but I think to a certain extent extent, like there's a certain cap limit, like the capital limit. And so here in Korea, even though we are a company, we still need to know the law on soliciting investment. You understand? We need, we need a license. Do we not need a license to solicit investment? Can you go from I hope you understand what I'm saying, because if we ask for money and if it's not by law, we're done.

Kristin, I don't get it.

Miss Steve Jobs.

Wait, let me, um, we have to make like, like, you can't ask for money out of the group. If I go out and ask someone for like $10,000, that's kind of—

yeah, scheme. If I'm not a company and, um, so Regulation B is a US federal program created for the Security Act of 1913, indoctrinated in 1982, which allowed companies the ability to raise capital through the sale of equity and debt security. There's, uh, there's more than that, right? Yeah, right here. So Reg D is a regulation that allows small companies to sell securities without registering with the Securities and Exchange. And then the last is commission. So I think that's super good, um, in the explanation of my explanation. My camera's off, I'm sorry. But what I'm trying to say is Regulation D is like, it gives small companies like ours, because we're a fucking startup, the ability to raise capital by issuing equity legally without a license, without registering registering the, uh, SDC. Now that's in America, and we need to talk to a lawyer. I'd be— I prefer to talk to a lawyer than search it up because maybe there's something else. Well, we can search it up, but we need to find out if we could also legally raise capital by issuing equity, because that's what we're trying to do. If somebody comes up to you, Kristin, right now at this moment and says, here's $10,000, I want 0.5% of your company, are you legally allowed to take that money? What?

Are you legally allowed to take that money?

Yes, that's the question. Yes. Are you legally allowed? To actually accept that and give the guy 0.5%. So we have to find that out in Korea.

It's not just like signing a contract?

No, no, because no, right?

What?

It cannot be that easy.

Like, you have your business.

We need a lawyer present.

Yeah, I mean, yeah, like with lawyers, of course.

Okay. I mean, if you have somebody, someone, please contact them, see what they say about the issue I brought up. Maybe the law is different here.

Okay. Okay.

Let's see. Okay, next point.

Next point.

Yeah, so strengthen the marketing strategy.

Ah, number 15.

Yeah, we talked about equity division already.

Okay, did you guys talk about number 11? I really like— no, I actually like number 11, that's why. Like leverage is very important. Okay, the more, the more our user growth, like if we have like, you know, 100,000 users, right? Then when we're asking for investment, we have like a big thing to leverage, like a negotiate. We have a stronger stance and power when we negotiate because we have 100,000 users. And we could show the percentage growth of those 100,000 users. If it's like 200%, uh, you know, weekly, 3% weekly, or if they're doubling every week, then you project that out to a year and say we're gonna have this amount of users by the fucking end of the year. Um, and so invest now for 5%, uh, not 25.

Right.

Not 25. But in order to say 5 and not 25, we need to have leverage. And what our leverage is, I think, is 100% our users and that they're active.

Yeah. Yeah. So, right. Leverage. Yeah, I think it's good ability to negotiate with number 12, right?

Create a board of advisors.

Yeah.

Okay. Yeah.

Awesome.

Number 15 would be strengthening the marketing strategy. We talked about that. Like, this has to be like the marketing and the finance has— we need to make that stronger. And personally, I said I admit, like, creating a cash flow projection into the future, like, that's something I can't 100% do accurately, and I need an advisor on that.

It could be Andrew, but yeah, he will take that position as an advisor. Hmm, you think he will take that position as an advisor?

Maybe.

Yes.

I mean, he has nothing to lose, but it would be fun for him, I guess. You might ask for a percentage, like 0.5, maybe 1, maybe nothing because— I hope, I'm praying, but I will ask him. I will ask him. I did ask him kind of, but like, yeah, yeah, yeah, about it. Yeah.

But do advisors usually get percentages of the company? Um, they're just like advising as a mentor.

But what do they get out of it though? Remember, like, it's always a gift.

I've had— we've had like people mentor for PassBy, um, through our incubation program, and sometimes people just say they want to like give back. They're like, they knew when they were in that position. But I don't know.

I mean, he took up this meeting, you know, he— I don't know why, but he kept on saying, you know, I took up this meeting because Michael told me to do it, you know, like, I don't know, fucking 5, 6 times. I'm like, we get it, okay. But, uh, yeah, he's a cool dude. Um, so maybe I'll ask him out. I'll ask him.

You'll ask him out?

Yeah, good luck. I'm too late, you know. Yeah, it's my chance there. Yeah, but I, I'll give it a shot.

All right, thank you, Mike.

Thank you. Yeah, because he says like— I noticed the enunciation with the being active and not passive advisor. So I don't know, I guess advisor, it's good if we talk to like I thought he said passive, not active. What?

Did he say passive, not active? As in they can be passive, they don't have to be active.

Oh yeah, no, no, yeah, he did say that, but he said like—

it says here, it says, yeah, it says here experts should believe in the company and be active, not passive. Yeah, so We talk with them every other week or something, at least.

Yeah, every other week, every month. And so advisors basically are people that are super, super like big, like big people. I'm not talking about small company people like a little bit better than us or people with a PhD or something. I'm talking about advice people that would make our company looks so good on paper. Like, we need to look good, you know?

Yeah, you put them on your website and stuff, you're like, oh, the advisor that's like works for like Apple, like head of like marketing, oh, they're like definitely gonna give good marketing advice. So I think, I guess we need more advisors, right?

Yeah, and he said it'll make you look good as well. Because you're the CEO, advisors usually talk to the CEO mostly. So it'll also like, it'll say CEO Kristin Fagerback and then under you like, well, like advisors, blah, blah, blah, blah, blah, blah.

Yeah.

But the CTO, right? He appreciated what he had. Like he was like, what you had was so good. Like that, because of his education and stuff like that. I, I didn't even see your, uh, LinkedIn though.

Well, I have written.

Not you, um, let me see.

I don't think I have anything interesting there.

He literally said like, oh, I like his, uh, it's a very good, like, oh, he's, I, I understand why he's the CTO. Like, like, what does that even mean?

I have to check.

Is it good?

I guess I was a founding partner with my previous startup before, maybe that's why.

Ah, you see?

Yeah.

Is it still active?

Oh yeah, they're doing a good job, I think. If we manage to land like, uh, what was it, outsourcing projects, we can talk to them and we can give them projects and We can negotiate some kind of deal so that we can get a decent amount of money out of it.

This is the guy, uh, Kristin, can you see my screen?

Uh, no.

No?

Are you doing screen sharing?

Uh, no. Aigo!

Oh, nice.

And you?

Oh yeah, he saw my lifting as we were drinking.

Yeah, so his experience, you know, this is where I met him.

Uh, Coca-Cola Consulting Corporation, and now this guy, this is his name, Powerhouse Recruitment, Marketing and Tech.

So he went to American University. Georgia, uh, KMU.

Going through here.

Yeah, pretty outspoken dude.

Damn. Yeah. Ah, I want to connect with him.

Did I just connect with him? Oh, thank you for selecting with helping us identify relevant opportunities for What did I do? No, I don't want to connect her to him.

What connection? What?

It's fine, it's fine. You don't know each other that well, so it's fine.

I don't know.

Okay, any whozies? Okay, so we can see if we can get him as an advisor. Other people, like, have different people, like, oh, like an advisor that works in, like, you know, finance, one that works in marketing, one that works in, like, um, I don't know, some specific, like, business, just broad or something like that, so that, like, they can advise us, like, in different parts of how to run our company.

Right?

Yeah, Andrew gave some good stuff. It'd be good to have like another meeting with him maybe in a couple weeks, just like after we'd like progress on some of these points that he mentioned, and then we tell him we did this and that, right?

Um, he's not going to be in the country Next month.

But where is he going?

He's going to America for Christmas.

But won't he have to do quarantine when he comes back?

Yeah, I mean, he said he doesn't wanna, but he has to. Yeah, sad. Oh shit, okay, okay, let's go through these. I have like— yeah, okay.

Let's go.

Yeah.

Um, here, here.

Uh, this is what we talked about, remember? You and me. I hope you remember.

Yeah.

So don't put a dollar value. Let's strengthen the marketing strategy. Have a meeting with the marketing team this week at some point. Don't put a dollar value on the app. Yep. We'll keep it free for now. 17. How we will invest in— we'll in investment.

Yeah, so this is just, uh, first user growth, and then, uh, which is the growth rate plus current number. We'll check something else, Kindle. And then data on users, potential revenue generator. Oh yeah, this is what he talked about. He said we can sell the data, we can be like a vendor, but he didn't want to use that word He didn't want to say vendor, but—

So, Shane, we think about— we're actually selling data to small businesses that we plan to advertise to. So the users are not really how we make money. We plan, at least for the time being, if we're not doing like premium accounts, we're actually making money from the business. So if you think about it, our service is the users. It's not the thing that we do for the users, but it's a thing that we do for the businesses, which is give them the users. Does that make sense?

Yeah.

So yeah, we are basically selling the users. That's not a nice way to put it, but we're going to be doing that.

What do you mean the nice way to put it? It is the best way to put it, man. Everybody's fucking selling data. Data is gold, right? Yeah.

Well, yeah, I mean, that's how I thought too initially. It was like with the data, but then like whenever I told Sparklabs about that, they got kind of like standoffish because they're like, you know, because a privacy thing. So I think we can't tell people exactly the data, but it's something like just in the back of our minds, like, yeah, if people agree to like saying they like the color pink over the color blue, or guys with brown hair over blonde hair, then like, yeah, in the future, like, we could maybe tell a company something like that. So I don't know, everything.

Yeah, I mean, I'm selling everything, guys. Every little drop of information they put in. Dude, our information, excluding from irrelevant information, like, no, no, everything. I bet, I bet, uh, like Google or Facebook is selling like the, the length of our, like, uh, passwords. Like, how long are each passwords? And then divided by that to get the me, medium, and go like, shit, I don't know, man.

They every—

everything. How many times we log in, our call, everything, man. Except, you know, everything, honestly, excluding what we say. I mean, okay, look, the, the thing that, um, Hoopers are gonna be like, what the hell, why are you selling this information on is if we're literally sharing their private messages with the person they match. But out of that, like outside of that, everything else, even the picture they upload, it is ours because they're giving it to us. It's on our servers, man. It's ours. Right? I mean, I don't see the relevance to like selling them that. I mean, it's portrayed like an algorithm. To see like, you know, the style and stuff like that. I don't know, man, you can do whatever you want. So you have to get like a mastermind. You have to be like, sell your soul to the devil, basically.

Yeah, we just can't like— we have to like— that's why the privacy things and stuff like that have so much lingo, and then people don't want to like read through it, so they're just like click, click, click, click, click, click, you know? Yeah, like, but so we're not gonna—

yeah.

It's not like we hide it, but it's there. But it's just like a lot of wording to protect ourselves.

Yeah.

User's consent. Honestly, next time you go on to any app, just read the whole thing.

Yeah. They just want to take your life, like basically soul.

Yeah.

Like they're like, you just sold your soul to us to download this app.

Right.

So like, We're going to extract your consciousness and put it into something else. So too late.

I'm finished. So we do that, we do the same thing as well. So we're not doing anything wrong. We're not going against any moral whatever thing. Yeah.

So also one thing that I was talking to a friend, he mentioned that when I was telling him the idea, he said that if a business as advertising to the user. So eventually we're going to do that. And whenever a user goes to Starbucks, they're going to have to post their— whatever they drank on Facebook and Instagram. Does that make sense so far? No. That doesn't make sense? OK. So imagine you go to Starbucks because of the application, and then you use the coupon that we have to get a discount. So in order to use that coupon, you're going to have to post on Instagram and Facebook saying that, you know, I've drank this coffee. After you do that, you get like this discount.

But didn't they already get the discount because of the stars that they got?

Yeah, that is true.

But advertise other people to go there too.

Yeah.

It's like they go to the store and you're like, ah, one more thing you gotta do.

Or it could be like a notification like that, like, you know, when you're like— I'm walking past like Gangnam Station or something like that, that like I look on PassBy and then it's like you can see like, oh, 3 people just visited the Starbucks, you know, and then you can see like what kind of drink they got or something like that. Maybe if we don't— they don't have to post a picture, but it can just be, oh, they got like, you know, pumpkin spice latte and Americano and that And then it makes you like, oh, this is kind of popular. Like, maybe I should go try it.

Maybe we can do that too.

I don't know. But it's easier maybe to do just the newsfeed and people upload in the beginning. Then they can show a little bit of themselves.

They can get a star. One star for posting on Instagram and tagging our Instagram.

Yeah, yeah, we should do that. Okay, the interesting part is Starbucks can see how much users that they reach through this user. So if the user has like 4,000 followers, they'll be able to reach 4,000 people. Oh, so having that status— that statistics there would be interesting for these businesses. They would be able to see how much people they're getting to through this application. So that was one event.

Extra one, man.

That—

whoa, don't they have to pay for that?

Yeah, we're eventually going to make them do that.

Wait, what?

Okay, so, so there's like a coffee shop, then they use our application, then their users go back.

Number one, they use our application because we're advertising, right, that we have Starbucks.

Yes.

Okay, move from there. Okay, so that's already step 1 advertising for Starbucks.

Okay, so when they do that, imagine if I go to Starbucks and get this coupon and then get to post on Instagram and say I have 1,000 followers. So Starbucks gets to see that they're able to reach 1,000 followers to this user. So imagine if there's like 50 users and each of them had like 1,000 followers, and they would be able to reach 50,000 people. So having that statistics there at the business account would be kind of interesting to see.

That would actually be very interesting. That's a good leverage point.

That's why I said we're selling the users. We're selling the capability to users to the business.

Yeah, like gathering the users and then showing like the power of influence they have like through our system. Rather than going like through Instagram and like, yeah, I don't— yeah, we do it with— and we have like the analytics somehow.

Yeah, that's interesting.

Yeah, we're like double advertising for Starbucks.

What?

What do you mean double advertise for Starbucks? They need to pay us.

I want my money. So are we, are we done? I kind of have a presentation.

Yeah, okay. Um, yeah, let's finish this up. So, uh, okay, data on users, right? Focus on the business plan money part. Um, 1-year, 5-year financial credit projections. Don't over- undervalue the company. So that goes back to maybe What is it? Making our budget. Like maybe Michael and I can meet, I don't know, like on video or in person to like do that, the financial budget.

I'm seeing you.

Yeah, yeah. Are you just like at home right now or something?

I'm at home.

Okay, yeah, we can hang out. Yeah, okay, so we make the budget, business plan.

What?

What are you doing tonight?

I don't have a plan, so—

Yeah, I can't. I'm sorry.

Um, let's make a plan.

Okay, uh, yeah, financial projection, very hard to do. Um, the thing we, we just said, the making the budget, totally fine. All we need is the numbers. That's all we need, and we can figure out like the projection. Uh, but this one, we need somebody to help us out. Um, okay, number 19, you read it.

Take over companies because our plan can increase their revenue and make them profitable. If a company you are thinking of buying has established a user base of 100,000 and is already making $1 or $2 million, by acquiring it now you can make that money and will probably increase as profits. This could be another possibility in the business plan. I guess this is something I haven't like thought that much of, but yeah, it was his idea. It was Andrew's. Oh, Andrew's? Yeah.

So basically he said like, our business plan, right, it's— of course we are, we are saying it's a unique business plan, right? It's It's different from any other dating app out there, right? Because we have this star system and there's a financial incentive for our users. And so because of that, we could potentially say maybe this business model, this business model could also work for that company over there, right? And so by acquiring this company for, you know, $10 million or whatever, right? After acquiring that company, we could potentially increase their profits. That is just an idea, but we have to— that's a far away idea. It's not right now, but that's a way we can increase revenue later on. And also we have 100,000 followers now.

Yeah, right. Um, so if we see like the potential in the company and if they like— if we can get value revenue from them somehow, if that makes sense. That's a good point. I'll think about that some more just to ponder.

Um, and that could also be us, you know, that we could be— somebody might come and offer to buy us out like that.

Yeah, right.

Okay, I'll think about that more. And by the way, if anybody's wondering, I read this book last week.

Wow.

It's called Sapiens. It's like 466— I read like 466 pages last week in it, and it's a good book. So yeah, I recommend. Book recommendation. Anyhoozies, um, yeah, maybe we can touch back And based tomorrow, I'll figure out the office situation. Thank you for like going through this key points that you talked with Andrew and talking with— thank you for talking with Andrew. This is really good. And then maybe we can discuss this case like a bit, like how to get the app in the testing Google Play Store tomorrow, I guess. Maybe we can discuss tomorrow to try to figure out how to get the app in the Google Play Store Tomorrow, like for the testing, just the testing version.

Okay, okay, yeah, we can have a call about it.

Yeah, since I have like class in Japanese, after that we can have a phone call.

Yeah, all right, um, so like talk like maybe in the evening, I guess? You think, KissKiss? Oh, do you think— should we talk in the evening tomorrow?

Yeah, tomorrow.

Tomorrow I can. And then, yeah, what about like Meret's like birthday party? Like, do you know her schedule? Like, if y'all want to come over to like tomorrow night or Thursday night or something?

I'll have to talk to her since she's working these days, but I think tomorrow evening might be better. Okay, I'll just talk to her.

Yeah, have like a little birthday party here and cake and stuff.

Okay, what about like tomorrow night?

Yeah, yeah, birthday party in Gangnam. Yeah, Gangnam Style, play some music. Yeah, y'all can invite friends.

So, okay.

Um, yeah, tomorrow night?

Yeah. Oh my God, thank you! Wow, I'm gonna have fun.

Yes! Wednesday party, just midweek party. I think we need it, like a little boost the energy or something.

I'm gonna party every day until I die. I'm joking, I'm not, I'm not. I stopped drinking a long time ago.

A long time ago being yesterday, I'm guessing. No. Kristin.

Yes.

You stopped drinking, right?

Yeah, I like, I don't drink. I'm still on my freaky diet.

Like, really?

You're still on your diet?

I like, people are genuinely concerned about me at this point. They're like, my mom is like, please eat something. Okay, I'm gonna— I'm making a Kakao chat for us.

Is it okay if other people—

yeah, other people may drink and that's totally cool. Like, people can eat and drink at my house, they don't have to like follow my weird— no, as soon as you enter into the house, only soups. An only hot chocolate party.

Hot chocolate?

Yeah, I like, I like, I drink hot chocolate these days a lot. Awesome.

Okay, then I guess you're gonna be inviting— I'm gonna do it, but before you, you gotta invite everybody.

Yeah, let's have a little get-together.

Invite Aesthetic.

Yes, she's right here, man. Yeah, we're having a party tomorrow in Gangnam.

Come on. She was— she's disappointed because you didn't get her name right, man. I don't like you, she said.

Okay, then don't come tomorrow.

What?

Fuck you.

Fuck me. Don't come tomorrow. We're planning— we're gonna go to Kristin's house. You want to come?

Yeah, any—

like, I will not—

I will not—

you to come. I will kickbox you.

Yeah, I think— what, what time? Like, anytime after— like, what, what time does— do people get off? Do y'all get off work? Um, just anytime.

Come 6.

6. I think she finishes at 6. I'm just going to talk to her. And we can't have a thing at 7 PM. Yeah, is that okay?

Yeah, yeah, just anytime come, like, okay, anytime, because sometimes I don't know, like, if people want to have chicken and dinner here and then cake or whatever.

When we do it on Thursday, on Thursday, okay, okay.

Wednesday, Thursday.

Why would she say that? Why would she say that?

Why would you say that? I have work on Thursday.

Ah, wait, is this a certain topic?

Stop getting your name wrong, bro.

Uh, I thought she didn't want to come.

She was gonna come to— on Thursday. She said on Thursday.

Why did you call me?

She called you makian. Why am I— get on the call. I have things to do, so we will talk on the—

okay, let's— hello. Wait, wait, are you talking to me?

She said she looks funny. She doesn't want to see you.

Look at me. I see you, so I don't want you to see me. But you can see my hair. Oh my God, cute curls.

Looks like some Tarzan would fucking swing on. My God, beautiful.

Anyways, I have to go now. We will have to talk.

Yeah, let's have a talk tomorrow and then let's talk about it on Kakao and see what rate it is.

Sounds good.

We're doing it tomorrow because she cannot come.

Okay, okay, I will tell her that.

Oh, definitely bring the fog machines too, you know, we got to get it like all like cool and foggy. Yeah, the manual fog machine, just like, you know, like 200 of those and then 200 people in the house and just all do it at the same time. Then what's gonna happen?

What sort of chemicals are in here?

Daiso 2000, I see.

Yeah, 2000 won, you know what I'm saying?

Yeah, 400,000 won, 200 bottles.

Nothing, that's nothing. We can do that for sure. Oh, okay, and I'll bring them up. I'll bring Basilic, okay?

Don't worry about it.

And what's gonna happen, you know what I'm saying? I don't know.

And there's already beer in my fridge, and I don't know why because Summer doesn't really drink and I don't, so already prepared for y'all.

Summer doesn't really drink.

She doesn't really. She takes like one sip and then just throws something away.

You can leave if you want. Even I'm gonna leave right now.

What?

It's because he's like, why are they still talking?

Okay, anyways, yeah, so okay, anyways, see you at the party and let's figure out the office and Google Play this week and marketing team meeting and yeah, other things. Let's talk tomorrow.

Okay.

Okay.

Yeah.

Okay.

See you tomorrow.

Okay.

Bye.

Bye.

Bye. Thank you for today.

Bye.

Okay, thanks for watching. I'm all done with work and now I have to go to another— I have to go to an office, bye!