0:08
Else, John, Jay, thanks for joining.
0:12
Today's special call, we're going to talk with someone who's from Columbia, He's an entrepreneur, I thought she would like his story, and it is consistent with many of the things that we discuss.
0:23
Um, think this is a guy that just gets things done, and it's a, he's a great example, I think, of what it's like to be an entrepreneur.
0:31
So, um, today's March 23rd and we're going to talk about his journey, his project.
0:39
We're not trying to promote an investment, although there is something there. What I'd like to promote is is attitude and his technique and his methods of doing what he's done to succeed thus far.
0:51
And he's with us right now, Audrey's Escobar.
0:55
Hey, John and everyone else. Hello. Hello.
0:59
So we've had some interesting conversations.
1:02
We started talking a couple of weeks ago, a few weeks ago about your project in Colombia and if I could describe it, I mean I'm gonna ruin it, but I'm just gonna do my best to describe it.
1:12
It is just a sophisticated system is a more sophisticated way to get involved in a barter, exchange or Barter Club.
1:22
So, I'm not saying, it's just, I mean, it's really amazing what he's done, and there's a lot more to it than just, you're just replacing that in, OK?
1:30
We're going to buy and sell some stuff. He has a big project there. And so he's going to be better to explain if you would, please.
1:37
And then I want to get into some other details and I'm gonna prompt you a little bit because I just really like what you did.
1:43
So, what does it, what does this?
1:48
Well, good evening. Everyone, I'm pardon my English, I am from Columbia, I'm right here in the country still.
1:56
So, I'm going to do my best to transmit to you what we have talked with, John, and what all this project is about.
2:04
Because, more than being a business or just something that, just assault personal.
2:15
In the surrounding needs, it's something with a worldwide scope, because it's addressing also worldwide difficulties that we are facing as societies. So, what the way I'd like to start it is to understand what is called ... about, which is community with the old as co-operation.
2:38
So, community is based on the power of trust, and a way to address it.
2:44
Is that, how important do you guys think it is trust among people, you know, going portend a nice And what is the power and the and the value? How much is forth?
3:01
When there's trust in the in-between with relationships?
3:05
And you can tell.
3:07
How much is there is a lot of these, it is, because most people say, OK, now it's sport is, It's impossible to measure how much you're saving, yes.
3:17
But, some. It is impressive how many of our systems are not really embracing the power of trust, or they are just abuses of the trust of the users of the trust of people and the best example of that and sort of element systems, you know.
3:34
So, the way we are addressing this is understanding that it's so important to, to have to view and to foster a better trustworthy relations.
3:46
And it's so important to show that it's better business to co-operate than to compete, And this, this is like, Oh, yeah, of course. It's common sense, but the thing is that common sense is being the, Let's come on up the census.
4:01
So so at this point on this crazy society, where all this agenda, as, I know this is going on to keep us deviated. And separated separating the families, the communities, and spreading the local businesses strain.
4:17
What made us, what we had to as a societal evolution, of course, centuries.
4:25
I just got inspired by a deep spiritual experience, seven years ago, or eight years ago, actually in 2008 to 18, to turn my life, into making a solution, or at least an alternative attribute.
4:42
Do this a big deal.
4:44
So, you can tell about how important is trust when you lose it. You know?
4:50
When?
4:51
When there there were thrust and there is lost then you can see all the cohort it is.
4:57
And also to see how much she sees, how much does it cost to you to have I'm not trustworthy mechanical for your car or how much does it cost to you to have?
5:08
I'm not trustworthy accountant or I'm not trustworthy a beiser, you know.
5:14
So in a case we'll trusting John and he's ethics and service But you know how how powerful is to have like John's in every kind of of, Oh, different offerings in services.
5:31
So, that is their overall understanding of what communities community is, An app, it's, it's being developed as an app that has already been in a pilot the way we already have, which we've hundred users.
5:46
Just to check if the premises were being interesting for, for the market that is oriented to.
5:53
And, what we have understand understood about, from the, from the pilots, and, the information that John is showing is, short document we have, that is based on what we experienced in the pilot with the user's. showing some of the, of the testimonials of what people encounter in, in our interaction.
6:15
Because, yes, as John described it, it's, it's like one of the layers of the project, Bolsters monitoring, but it's not as the type of water. We are used to, that, it's just very limited to two space, and, and, and other things. But, it's very enhanced. But, so far is as far as I would like to commence to the spine.
6:39
So, again, please feel free to dig in how much OK, thank you. That's great, and so I would, I like about this.
6:49
I like to see the utility of a service, so you have an app, It's a, it's an application software and a phone, right, Effigies, downloading apps on their phone, so you've got a phone app application that allows users in a community to find other people where they can, they can interact with them, buy and sell things. Is that about right?
7:09
Yes.
7:11
I love the questions I'm going to be answering something that we see seconds later.
7:18
Um, one thing to take into account is that we, in order to really bring something different, and we, we develop our user experience in a counter-intuitive way, compare it to what is going on on the apps that you find in the App Store or the Play Store. You know?
7:38
What? What do I mean with counter-intuitive in this case?
7:42
All those apps are into, hey, invite everyone, and they do advertisement, and they try to, to really get as much people as possible, and they are not really focus on the quality of, the people, or the quality of the relationship between themselves.
7:56
You know, So, what we're doing here is that we have an approach that is more oriented from, from behavioral scientists.
8:05
We have a lot of background that sensitivity and, myself, I am an industrial engineer and my degree, but I haven't vacated for the like systems use, for that to leader cheap, personal growth processes, personal and collective wealth.
8:22
And I have builds up ready, a community of 10000 people in Colombia that, that had some kind of monitoring, personal roelof experiences among each other.
8:33
And from that experiences, we've detected that the apps that you have in the cell phone, they are not really developed by people who understand what makes us human.
8:43
They are developed by people that it's just focus on how to trigger. our our instincts, how to trigger. Our consumption is something you know, and, and just to make cars, consumers, and just to make us dependent, of checking your notifications every day, and every minute.
9:01
So, what we have encountered is that, in our system, and in our society, that is pushing so many weird stuff to apps, we, if we're going to use an app, this has to be counter the narrative and counter, that, the trend of what they are going to. So they are going towards virtual reality. Now, we are into, maintain the quality of the reality we live. So, they are into pushing people to spend as much hours, as many hours, as, as, as their algorithms can have people hooked into. Because your business is advertisement that people divided the conflict, so they can spend more time in those, those content.
9:48
Think we are into enhancing human interaction and there to have more time to having to build dynamic, and also we give incentives to users. So they don't, they, as they advance in the experience and they because it's a gaining insight experience, you know, It's a blame game dynamics.
10:07
So it's into having people that as a higher level, the last time they can use the app. Because that is what it is about. You know the it is not about 1 1, Another app. Have everybody addicted.
10:21
So, many people. Do you have on your team? How many people do you have in your team you guys, just by yourself? How many people are there?
10:27
Yes, we have 20 co-founders is having shares up on the project, right? So they are not just employees, they are also commerce.
10:36
Yeah, yeah. So you set up a company, you, you, you had these people, or they came along later. What happened over a period of what? six years?
10:44
And the product Vision came to me for three days in a row receiving visions in my mind that try to develop, And I was like for two years Researching everything that was a into.
10:57
I was having my, my other, I had a previous business and I was having every day, like four hours of research of how to make these, these ideas that I was having inspire how to make this happen. So, it was the first years like about that and by the beginning of 2019, I started to the Assembly, the team with the best people I had from previous projects.
11:22
So We felt we were first 12 co-founders and then we have a scale up to 24 different stages we have had in the project.
11:33
So That is basically the structure of the team currently, OK, so that took about a few years to cook, let's say right?
11:41
To get started, you start getting momentum. So, it went And did. did you start with, you know, a million dollars, or a billion dollars, or what did you do before?
11:51
OK, actually, the first three years, I did some experiments with people, with my own money, so I missed the else like $10000 that I addled savings, and with that is A, definitely, this has to happen, and this is the time, because what people were saying around this, we're seeing around, where, like, now the, maybe it's not just the time that technology is not that evolved yet.
12:15
So, that was the first years.
12:17
But in January of 2019, I have my first externality investor, a general idea of a model of shares.
12:29
so people buys the shares and John already has seen the evaluation and how it's done, but we, we have managed to just tells our business is divided by countries. So, each country is a different unit of business.
12:47
So, we have already sell, just 30% of Colombia shares 4, four, $1 million dollars, but it started by selling shares of a thousand dollar person, by person.
13:01
So, my first investor was 1, 1 friend of mine for a thousand dollars, and with that, with, that first one is, when I say, OK, there's no turning back because we already have other buddies. They're like, OK, let's try some, no, it does not threatening back.
13:18
I started with one with the towels, and then two weeks later, I had another 2000.
13:24
And then, when I gather up these 5000, then, I started recruiting team, right? So what did you, what did you use to to document the investment? Did you transfer share, certificate? What was it?
13:38
In the beginning, because we didn't have the company yet. So in the beginning, you don't have the company set up, right? Yes. I want to tell you, look, this is what I want to tell you guys. This is, this is why I brought him on, OK? So he's, he's has this idea, he put $10000 into this idea that might not work, might work. It was a vapor.
13:57
OK, he already got investors the company wasn't even structured yet.
14:03
It's more important to get your deal working, You can structure it later, and you did. So you have less, so then when you said the company, what did you do to document your shareholder's interest.
14:14
The first phase of that we did, through blockchain tokens, we sailed serious a on, on the ... network.
14:26
So, so we did some, some of those toolkits just to document that, You know, but, I wanted to comment something very important. That, is, that first, you have to be the first investor on your business.
14:39
Yeah. It's impossible. You get external investors, if you're not willing to risk risk yourself first. You know. So that is the first thing.
14:48
They applied there, and the other is that I know sometimes it's hard to expose oneself. To third parties, like to, hey, this is my, my patient is what I have. It.
14:59
Because everything kind of failed in our end, and there's always risk, but is higher, the risk of not really doing it, is higher the frustration of not making things happen.
15:11
So, so for me, But as it seems. This is a product with social and we as a society impact.
15:18
I was so driven by my purpose that I just I just said this has to happen. I don't know yet how but this hasn't happened, so you have to find really Deeper purpose more than just making money to really make things happen.
15:35
Yeah, right? And just that quick example, So I want to talk a little bit about the technology that you have there, and this is not something that you can just download from GitHub and and duplicate you spent years of this. This is, this is more than what you see on the surface.
15:48
But anyways, the way it works, in many cases, like in your neighborhood, you already know where to go to get stuff out anywhere on mechanics and things like that. Where my wife is from when it was when we had our wedding ceremony over in her country. And we had to go find, you know a person, a baker, to make a cake and then we had to go find a Carter ran and we had to go find where to get the, you know, tuxedo and things of that nature. Well, we got we took a taxi in the town, and my wife knew a guy who knew a guy who knew girl Nougat, And before I knew it, I walk into somebody's basement who's got a bakery in his basement.
16:21
I mean, it's amazing. And then we're gonna go to the next place that we know through a network of people until we get everything. We get everything set up.
16:28
So, what Andrea has here, is the technology on the phone, that makes those people available if you don't even know who they are, they just they're available, where we might have missed some people.
16:39
Right? If I did, my wife didn't know all these people or her brother didn't know all these, all, these people. But this way, the technology is there so that that woman who does alterations that she never comes out of her house, but she does the best work. She's way over there in the corner of the neighborhood, but she's going to show up, right, in this app. Right, is, do I got that right?
16:57
Yes, I just want to recommend their recommended for, so it's up platform that only, it's for only trustworthy entrepreneurs.
17:08
Is building a community where, not, OK, so he's not talking about this yet, but I'm seeing that this is gonna come into fruition.
17:14
So, you might, you're gonna have a paid subscribers, you're going to have people pay for certain things, I don't know what you're, know, how you monetising yet, but at some point, you have a platform of your platform of sellers and buyers, and that's the hardest place to then sell advertising, right? And he's not trying to exploit people and, and collect people's data, like Facebook is, he's actually using it, like the old-fashioned way of using advertising in the community.
17:40
Right, and he's not trying to get people to keep on using it. You know, be addicted to the colors and stuff on the screen. It's actually a useful tool to bring people together.
17:49
Yes. Yes.
17:50
And we are about making fun the exchange among people, you know, because because if you just do it OK, let's look what is cheaper.
18:01
Or let's look what, you know, like they they're rational did typical rationality then we will be just another Amazon or another of those platforms.
18:11
But we are more into building strong Communities, and it has, it is not everything that you spend in the platform.
18:21
Because it's, a business model, is a subscription model, but we have an inner monetary system in which people, what, what we do, is, that, that subscription, that includes a balance of or tokens to exchange inside of the community omni.
18:39
So, it works. That is where the monitoring dynamic works because they betas Fiat. But what that we develop the tokens. It's a way that allows people to save up to 50% of the, of, the, of, the money, that, they pay for, usually, for stuff. So they can find here things, that they need, usually.
19:02
They find it here, with them, more accessible way for them, and also by just trustworthy people. People that you can just be like that. Maybe you didn't know them from before. But they are recommended by someone that was connected to a community, by someone with someone, and their reputation is connected by two. That recommendation.
19:22
So it's not people that, that just random people, that got to hear it now. It's just people that is putting their reputation in a stake in order to invite somebody here.
19:33
Yeah, OK, and Emily has a question, Where do you?
19:37
Yes, well, I think, it sounds awesome, I'd like to maybe offer some more, more to it. But my question right now is, now you can see me on the video, So I can be real here.
19:51
Hi, this sounds so excellent, and what I wanted to know was, do you have some sort of feedback loop, like when you're rating, you know, how we have the five stars in order?
20:07
So that when you're building the trust, which, of course, is the most important thing to learn how we're going to collateralize peace, essentially, in our economy instead of collateralized violence, were creating peace is our collateral for our strengthen the economy.
20:26
And that's what I do, that's how I interpret what you're after, as well.
20:30
So if you're looking to have people.
20:37
Get on the app.
20:38
Find somebody who does a specific thing, and then they're buying in as shares, and they're getting this alternative, currency, and tokens, which is, gives them almost double the buying power, and then did they have mechanism on the app to say, Wow, that was the best experience? Or watch out for this? I mean, I, I don't know if that would feed into.
21:04
Sort of a doubt that I'm just asking you.
21:07
Great, great question, yes. Actually, yes, we do. We do, and we have it ready. We already have a Working App, which is the one that we used in the demo with 300, with the pilot.
21:18
And when we test that there is that people lease most of the platforms the way they rate people is just on the extrinsic value of what he's offered. You know, like, you just get fewer stars or you get a rate or whatever, but in those cases, you are just having a reference of the quality of the service that you were given.
21:41
You know, so, when we develop is also apart of the extreme seek rate, there is also an intrinsic one, which is, by definition, subjective.
21:54
But, it, we call it merits.
21:56
And the merits is something that is some kind of our reputation deep that you just gift to someone. If the value they add to you the top, it's outstanding.
22:06
Because we want to give visibility not to the base more to be more visible, not just for the people who really eats going the extra mile for others, and how can you tell that?
22:17
one example that we like to use in that sense is that you can tell the difference between a server in the restaurant, that they are just doing it for the money on a server. That is really loving what they do, You know even the food almost tastes better when someone really does the service, that, you can check off, like that.
22:37
So, what we want, this is A, instead of just giving OK equals 4.5 or a five star product that you gave me, but also, if something gets outstanding from 4.5 to 5 out of five. And then, the option to rent a merit, it's given in-depth, is not that you can get married to whatever service, not just for the outstanding, and not just because of the quality, because you can give someone, OK, the quality of the solution you gave me, or the product is sold me. It's five. But, I cannot tell that you really love what you do.
23:12
I just, now that you are doing what you, but, because that is why I referred to this, very subject, subject that.
23:19
But, when you have a community interconnection of people and you get married by different people, then the commonality of that, Mary is the granting of those merits that is what gives visibility to the most merited intrapreneurs, right?
23:36
So, there's a merit and a star, and may I, John, may, I am sure another comment.
23:43
So, it sounds like we are thinking Millimeter in parallel ways and where, where I've been going with what I've been designing.
23:53
I've been working with John, and getting it forward is a mechanism that's similar to it's building trust, and the thing that, it feels really important to me to do.
24:06
And I wonder if there's any synthesis that might might occur, is to, it's not that there is sound money, which is, you know, we're not really talking about that here, because we're talking about tokens, which you know is another theme. It's really about having the collective be in charge in directing. What money gets, circulating, circulate. And how to get there from where we are here.
24:36
Because, you know, with general people who aren't really, Aren't really focused on the mechanics of the problems of the debt base. Monetary system.
24:48
Great. Great question. And I can tell that you have way more research about it. And that gives me the opportunity to, to open another layer of what we do, because the surface, you can seem as just, you know, like, an overall with some features, 10, OK. But, in the depth of the economic, an assembly that we have in the back in the background, are you familiar with the, with the lead system, the local exchange trading system?
25:18
Aye.
25:20
I'm familiar with a bunch of them. I don't I don't have specific experience, OK. Our standard hours yeah. Yeah.
25:32
Ballparks are credits you know, I have experience with those end there.
25:43
They don't have what, what I, what I'm bringing forward, is a mechanism of a self governance.
25:51
So oftentimes, I'll have a singular people, who are kind of manning the helm, and, and people use it, but it hasn't been synthesized to encourage people to come in and be part of what I call the peg.
26:09
Peg, which is proposal enactment governments, governance, which essentially allows everybody to make a proposal and to the end, a bottom-up to rank and then two, then vote for the Representation.
26:25
So it's, it's, it's, I'll just start out and designed a business where you will, you'll, you'll, make an investment, and you'll get the equal amount of your investment in this alternative currency, and the, the investment then is split up.
26:47
I help stop me if I'm getting too complicated, it's easier to read.
26:51
The investment is split up in 25%, and 75%, 25% goes to the company, 75% goes to the poor, to a poor, so we get the pool bigger, bigger, and then everybody becomes a member by doing this. And then the members decide through proposal.
27:12
Wear that pool is going to be invested in small businesses, and that gets, then, beginning to use this, get involved in this economic empowerment where they might not otherwise, and when that builds enough, then maybe then the light bulb should go off, when it's big enough say, Oh, we need, we can direct issue.
27:36
We've got, you know, we've got enough trading people today, direct issue, and we are the ones that are giving it value.
27:44
We are 100% on the same page. It's amazing.
27:47
Look, just to give you reference, we have that the portion, it is 80% would re-invest to fund projects that are spread with social impact, which are managed by the most American people. And the reason why we have this approach of, of different countries, each country, it's a separate unit. It's precisely because of that approach of local governance. Actually, in the beginning, it was just buy CDs.
28:17
But then we have managed to see it for country, like a country, the size of Columbia. It's maybe more feasible that sense, but the country as that as a US.
28:27
Then it has to be more at the state level.
28:30
But, what, what we're going to do is, look, my intention with this is not to become the next Mark Zuckerberg or stuff like that. Because, that is, studies, always deviating.
28:44
But there's no single person that can grasp what is the best or local communities in the worldwide scope with different cultures, with different stories behind. So, what we, what we have here is a system that, at the beginning, it seems centralized, but it is just as the most people emerges and flourish. But once we have the most critical ones, each territory, they are the ones that decisions of the platform.
29:12
Because that is what it says about, and I am not here to pretend to be like this centered people centric, why, they just wanted to go over a, thank God, that wasn't raised on Silicon Valley mindsets, you know? So, so my, my approach to life is better, like, I just wanted to contribute something, that makes suddenly friends, but this has to be not dependent on myself.
29:35
And not on one single point of failure, I believe, highly in the collective, and the collective intelligence, but that has to be also that, that has to, it just doesn't work, by the early beginning, having it fully horizontal, because most of people, is having conflict of interests, and stuff like that. So, we first have to really detect how detect who are the people who are really looking for the common good, that people who really are acknowledged by the local communities, that they are merited. And with them, Then we have another layer of contests to show to see not not the ones who say, OK, I want to be there that you represent the tip or something like that.
30:19
Now, it is better to say, hey, we want you to, to represent us for the governance panels. It's different, the approach is not, is not as the top-down as or elected officials that they just run campaigns and propaganda stupidness.
30:35
Now, this is people out of marriage that they are visible because of what they have contribute to community beyond just their service, and the people that has relied over time it has confirmed over time, their trustworthiness, they are the most, the most, the most qualified to, to choose in which language projects are going to be invested. They, 80% of the revenue of the project per country. Because that is what we are about. So, 20%, we split it with our shareholders and some reserves to expansion of the project. But 80% of what we make in every country is re-invest it on the local impact of the projects.
31:20
OK, now, you had you had to investors, We were talking about how did you, did you solicit actively more investors? Did you have some sort of perspectives that you showed them?
31:31
And didn't get you can you please would be. How does you bring in new investors after the first two?
31:37
How did you solicit new investors?
31:41
Observers do not, actually, it has been from the first to the 123rd, because we have 123 best source of art.
31:51
And it has been a journey presentation by presentation and by one, by one, and I run out of personal contacts around the 60th Because you can help to get investors. It's not just one presentation, then you best presentation Then, you invest.
32:09
No, it's yes.
32:11
It, it's, you know, it's it's a numbers game. See how much. So far, I have raised one million dollars in the project.
32:21
And we have like those, and we have currently, one or less than besser is being on a monthly program. that he's investing. What we require to launch with the team. So we are right now, we're funded on they, like, they, the current needs. And we're looking forward to get a little bit more funding To get to just to accelerate things, but things that were covered on a monthly basis, right? And that's what I want to cover also. So you have 123 investors.
32:54
And many of them have invested thousand dollars. And many of them are related to you in some way.
32:59
More than half, I mean, just a thousand dollars, friends and family.
33:04
And friends and family, and this is your more difficult investor when I said when I mentioned this to you, started laughing because, you know, this is your Uncle Bob and your sister that see you frequently family reunions and they're the ones that always ask, so how about that proxy that, you know, how's my thousand dollars doing, right?
33:22
Right? Yes. They are happy.
33:24
They actually, it was, it was the first they, just, Kickstarter was the change, but once they saw that, there were more people getting into it, and they were like, Oh, maybe we can, we're missing from something else. Right.
33:38
OK, so you ran into sort of a, what do you call it, a regulatory issue here with your income. Your government says, hey, if you get over 100 investors, you have to sell your company on the stock exchange.
33:51
Are plastics upfront before actually they didn't know that because somebody's very restrictive because there has been tons of pyramid schemes here in the country. So they are super restrictive on the legal stuff.
34:08
And yes, yes, what after, I was by the 105th, Then 1 1, 1 lawyer. consulting told us, OK, guys, but did you know this low? And when we checked, it was like, oh, my god, what do you do then? Did you did you take all your, all your immediate family members and lump them into one investor? We are, actually, we're doing that. We are in the in the next general assembly.
34:36
We're going to fix that, bye, bye, regrouping.
34:42
Some of the comments were the ones that have stuff in common, and they know from, from each other before they, they were doing legal structures that makes them as group, one, just like it just feels, this space, and we after, we're going to have just, like, 15 restaurants and then we are out of the out of the challenge, right?
35:08
OK, so now the interesting thing about this is, so you got investors raise one million dollars. He dealt with the regulatory issue quite, you know, quite effectively, but you raised that million dollars, so that you can just show up to work every day.
35:20
Do your job, pay the bills and pay yourself, right? Yeah, yeah.
35:27
Yeah, you have a salary, right?
35:29
Yes. That's awesome.
35:31
Yes it's important because because we haven't talked usually how to run businesses and what I have done is to see tons of flowers on, on examples on YouTube or other entrepreneurs and I got this advice of being pay yourself first. Pay yourself first is important. And that's that has been a principal. But in some moments of of the of the journey because when pandemic strike because we started in 2019 and we launched our pilot week before they acquire Quarantines. So we work with people already in the product on the product, they're doing matches and exchanges. And then everyone has to be locked down. And it was super crazy. And our investors back then, where people that, they were investing on a monthly basis, and teens, their business, were shut down. They stop their investment, and I wasn't really having a paywall in the monthly basis, so it lists a crazy journey.
36:32
I had to postpone myself to link back to my house, my parents' house, having got the order of my, my, my, wife, of them.
36:42
Back then, because we, we, we separated, with great friends now, but we're not seen in the relation.
36:48
And I had to pay personal crisis to make my product happen, Because we were having different interests aside and stuff like that.
36:55
So so what I want to mention here is that it hasn't been just A pathway of a battle froze frozen, and it's, it's a little harder than we're doing, imagine, you know, at the beginning.
37:11
But that's probably an understatement, guys.
37:14
He doesn't understand, I can tell you right now. I'm sure there were days when he said, Why am I doing this? Somebody else to do it better, I'll just wait.
37:22
It was my mental challenge, you know, and having some of the investors from the early age, every time somebody does anything, they can raise pandemic. They, these days, economically, has been very hard and we see that the product is not they're still on the market and is there a way we can be, we can sell back or chairs or stuff? I have committed with 100% satisfaction so what I have done over the time, with new investors explaining to them, I have managed to repurchase some some of the money that I have acquired. two reports as chairs from the previous semesters.
38:00
Just for them because it seems it's all trustworthy relations.
38:05
I didn't want it due to damage that trustworthiness.
38:09
You know, so and so the commitment with really satisfied, satisfied expectations.
38:15
And what I have currently is the people that is hundred percent committed with the product that, even that it's very profitable, eventing, they come very conservative scenario to them, is beyond money.
38:28
And that is why it is important that you have to really focus your project.
38:32
And there's always a way to get your product to give it more corpus than the, than the average products. It is important. So now you see it coming together?
38:43
What is your just the summary overview? What do you anticipate?
38:48
The type of revenue that you can generate in the next few years?
38:54
Helped me you helped me with that. They showed I know those numbers were outrageous. I mean, it's all fiction. You just make this stuff up, But I mean, it's based on some real numbers.
39:03
But what do you think is realistic?
39:05
Look, just for you guys to make an idea.
39:09
We have, even though, in the future, when people is having, are having more 10000 options of consumption of entrepreneurs inside of community, then people are going to be, Will, I'm going to be able to, to migrate from their Fiat money to our system, in their subscription model. I'm way more money than what we put in the financial protection.
39:36
But we made an ...
39:37
scenario with just by entrepreneurs paying $50 monthly on the subscription, which is kinda percent consumable.
39:46
So it's not gonna spend on them is just the subscription that includes they're tokens where they barter with.
39:53
So, so, $50 per entrepreneur, hundred dollars for consumers.
40:02
And, this scenario, it's, It's being, after re-investing, 80% on, on, on here, I'm just saying gaping warts. But, then, if someone will be interested, we can set another type of space. Just present the core, the core stuff.
40:19
But, after re-investing 80% of the revenue, just in a market as Columbia, we're expecting a profit of $20 million off from the first year.
40:32
Because with just that 20% demand, and just remembering the figure. Because I can be a little bit, but, That is almost that way.
40:41
Yes, and the reason, because of that, and the Big profit, it is still on their very, um, Barry, conservative premise, OK.
40:54
It is just that that, that the business model is allows the system to be super profitable because we don't charge a commission out of every transaction order models, Actually, we don't charge a commission by transaction.
41:11
That was my first question is Where's the Commission? And you said, no?
41:13
There's no commission now there's the commission, and they are very intuitive. I understand that.
41:17
But, by seeing the paid subscription, we are just generating here like an amusement park in which they are trading their fiat for the consumable inside of the community. And the reason why the entrepreneurs are not taking out the money is, because we are not a bank, we are not an exchange house, We are an exchange place. You know, we are, we're just selling a consumable that only works in the monthly basis inside of that dynamic.
41:47
And, for entrepreneurs to use it, they save a lot of money, because we, by partnering with the tokens, they are saving that. They pay a tax, They value added tax, but Inquiry, hinkle networks like that and begin to avoid the value added tax. Yes, because it's not using dollars. Or SOS, or it's just it's like, you're partnering with our unit of salt.
42:14
So you're partnering with that.
42:16
So we are selling the salt, so we made of the money, of the tokens we may tell And as John said in the beginning, I am open to say this because This is part of the Coca-Cola recipe.
42:27
Let's, let's use that terrible example, but this part of the secret of this but in reality, in practicality it is thousand times harder to, to, to, to implement than what it sounds, but I haven't already had hmm, hmm, hmm, big, big specialized consultants reviewing the project because in the way of having more than 100 investors, I have been put in front of consultants and lawyers, and accountants, and famous people, and bad people, and they challenge the system.
43:06
like, like really trying to two M, knocked me over, you know.
43:11
Yeah, and we have currently upper wast approach to it, and, yes, definitely, and we fit perfectly on the legal scheme. So, we are not, we're just using what a capitalism allows us to do.
43:27
Fully legal.
43:28
Because people is not forced to use dollars.
43:31
It's just that people don't know how, how, I can relate a lot with what John explains that, in that, it's just, people are not aware of, their, their, their work, their rights. And what is currently possible with it, with a lot, is just a matter of being creative.
43:51
I think we have been so far.
43:53
Well, imagine if people did that for just like a strip mall, where there's a grocery store and some other hardware play. You know, and you before, when you go in the strip mall, you trade your dollars into the tokens or whatever.
44:04
And you go in there and you buy your groceries, everything, and nobody's collecting sales tax because you just part your dollars at the front door and then you do all your business, which is could be millions of dollars. Then your way out, you trade out. Your tokens for the dollars again, in the dollar didn't do anything. So there's no, there's no tax liability there.
44:22
I mean, it's almost like with the crypto is to then. You're using that technology as well.
44:29
Getting all that value, you're keeping all that value in the community.
44:34
Yes, yes, because In the, in the real.
44:37
And when Emily referred to some money, actually what we're doing here is to bring sound back in the conversation, because when you have real value, because we are here having tokens, but we're not issuing them as we were a centralized authority as another central bank, Now, people face with their subscription and then the token is issued And the token only can be used to to purchase something from someone that is bringing the value.
45:08
So it's double, double collateralized, one by day by day by day giving out of the value because when you have money that is just issued a counter service or a product, then it is real value. The problem is, when you have credit, when, you have interests, when, you have all, this is speculation, and derivatives, and all this crazy stuff that the system has developed. And, what we're doing here, is you have one, is everything is backed by day, by day.
45:41
But you cannot even borrow money, hearing community. You cannot borrow money to others, because that then it will be using the exchanging it for value. So, every transaction in community is supported by real value. And it's one intrapreneurs leaves the system, then you can use your money with, on other, your consumable because it is not money on the legal aspect is not my goal. And you can use it your balance with another entrepreneur. So, so, every time is covered and that is why we, we call income.
46:12
When we sell the tokens, we call an income because it seems. they are using it and they are circulating. it.
46:19
Um, it's not money anymore, you know.
46:23
And you start having your own governing body and your rules, and that everyone who has an interest in the community gets to have a say in what those rules on you end up with, your local government, your local trading platform. This is nothing new, guys.
46:35
You just come up with a detector using our current technology to do something. We've been doing for centuries.
46:42
Yeah, very effectively yeah.
46:44
It has been actually, I am very passionate about history.
46:48
So I have been studying everything since this. The story of money culture where everything started.
46:55
How bartering is the basis of the monetary systems and not the other way around and the financial system just raises stuff.
47:03
So coming back to the basics but not not pretending to give them back to technology but really using it for the common good When we continue Well you don't have to know much about history.
47:16
If you just act on your own self interest in you and you keep your word and you deliver value, That's what we've been doing.
47:23
You don't need to understand history, because people are going to do that. That's it. Yeah, Yes. Actually, we are bringing back, you know, this has involved also a lot of philosophical sessions with, with people that, it's very advancing stuff. And one person told me, one time was like, eight.
47:41
But this is the first time I see a system that can really implement what capitalism is about. Because what is going on currently is not capitalism. What goes on is sold most totalitarian communism somehow is fear.
47:56
Yes, it's going backward. Actual. So, all this, yes, so this, this corporate, the correct, this corporatocracy, and these crazy people, are just driven by ego, by, by healthy way, to look for your own good. Because when you will find the system, which incentive structures reward the people who is looking for the common good?
48:20
Then you can be, personally, if you can be interested, the way you can achieve more is by helping others.
48:28
So when once we have a system that is really in incentivizing that way.
48:32
Then you can go all the way down for your personal interests.
48:36
There is no problem. You don't have to be sacrificed by other water right? Now, if you'll make more money helping others, what is the fun with that? So, you see, guys, so, he's not, it's not like the simple thing I recommend every night, I talk to people and say, hey, like, you could just buy a website and make five grand a month, Yeah, OK, you can do that.
48:54
But if you have a passion for something, I really novel idea, you're gonna, it's, it's, you love it. It's, you're gonna put your emotion to hurt him. He put in 10 grand of his own money into nothingness, and he's stuck with it, and it's, it's working out, and it didn't have to work out, but, he made it work out. And, so, it took several years to get some momentum.
49:13
And, sometimes, projects are like that.
49:15
I mean, statistically, it's gonna take five years for most new businesses to develop, and if they can last that long, they're gonna, they're gonna have a good chance of staying in business.
49:25
And here, we have a great, great example of this and take into account where in Colombia is 10 times harder.
49:33
Because the acoustic power of our investors is lower than the best source in Europe or in the U S so for us, when our biggest investor has invested 100 and 50 K, just doing the there, the exchange.
49:54
150 K 200 K.
49:57
That's your early Yvette, wow, That's your earlier investor.
50:01
Yes. No, not, actually, this one was like one year ago.
50:05
But still, I mean, at that, at that level, 150, with your stock, you know, you only have 123, So that's, that's a pretty early investor.
50:15
Yes. We have the assault 30% of the shares of just Columbia. So we haven't pairs of the worldwide pieces yet, because we have managed since this is a worldwide product.
50:28
Maybe it just started in Colombia and it's going to happen, but is this worldwide scope of the product? So, the evaluation, everything is done.
50:38
by that way and got the model that we got inspired to make, it's really profitable also. So we can do it. And that is another thing I would like to suggest, in your personal projects, if you're So you'll want to use some of the insights we haven't shown here.
50:54
And it is that, most of the times, you will find two extremes, Some people or value a product they have, they pretend that it's super worthy, but they are not really giving real value.
51:08
But there are a lot of a lot of products that are super worth what if the Super Bowl it. Well, but by person insecurities or bought, by lack of experience.
51:17
People don't really evaluate how it is. And then when they look for investors, they get to sell a huge share of part of the equity in an early stage, and then they are working just right for third parties. That's right, they become the employee is kinda what happened to Steve Jobs. I think that is great, but BVA most of the beautiful products, because Twitter wasn't the intention of what it turned out to be or Facebook.
51:50
I wouldn't just say that the projects have a better intention.
51:54
So what is going on currently?
51:55
But what, myself, by not, pricing it the right way and the equity, just giving it just out of money and the holding power.
52:05
Then then the vision just deviates most of the time. You have, you have some consultants and professionals, and you're going by some standards as well, and you have a, you have a good foundation. You have many people there. That's, That's another key in a project like this. You're not going to usually succeed by yourself.
52:21
Mean, 20 people that's quite a bit, you know, What is What is the website I know I put the PDF up there, but if you could tell us the website, Actually, part of the restrictions, you cannot find us. in social networks.
52:35
You can find us open networks, because This is just an invite only product, and that is the way it is. So so, so that way you can find more information like if you see the the PDF. You can share it with you? Yeah.
52:53
Right, yeah, and There is a part like the governance.
53:00
I'm waiting ordinance works as I was asking.
53:05
I'm more than super sophisticated Gore NANS systems, because they have seen some projects that hop one super deep into governance, but, the thing is, really setting up The way we work is more.
53:24
Give me five weight.
53:25
So gamify, gage factor gamify. These is when you were gamify something, is that you are using the, the structures of games in contexts that are not games, usually you, and also these business types. And this community building usually is not involved with games, but we are using, and it is based on a theory and gamification and other approaches.
53:49
So what we do here is we have a bit the model is more an incentive structure more than an ordinance itself.
53:59
Yeah.
54:00
It's something that emerges out of the dynamic rather than government, which is centralized and which is vertical. Now the governance you saw. It's emerging property.
54:13
Out of, out of the Emirate of the of the people fully striving in the local committee.
54:21
So basically, it's like that OK, well, thank you so much. I don't know what else we can add, but I'm sure if people want, we can probably have you back, and you're very kind of take your time out to explain all this. I just thought you're a great example. You know, you can, you can do a project. I mean, if you're willing to stick it out, you can do a project. He's already went six years into it now.
54:42
Well, the rest.
54:44
Are you about six years into the project right now?
54:47
I didn't understand the work can use. Yeah. Are you about six years into the project, zero on the right yet?
54:55
Like, with the project going, That project, it has been four years from January 2019, OK.
55:03
But in reality like front to Towson because we had the pilot 2020 and then with the craziness of the lockdown stuff, we just didn't stop. But we haven't been able to we weren't able to advance. We have resumed the Advancement.
55:20
They active height base from from November, December to now. So now we're not ready any traction with all the team recruited again everything.
55:32
Because we have to adapt to the reality of not having funds during a stable fonts for the first year of the pandemic. Alright, Somebody's asking about, how does your governance method work had?
55:45
Do you have a website to learn more? He was looking for the app.
55:51
Bring in the previous yes, right. And yes, the app, we have, the demo demo we shared with currently with the demo.
55:59
We just started by the presentation of investors, and there is another part in which you guys will understand that.
56:06
What we're doing here is we have gathered a lot of things that solve the deal with a lot of products, But the intention here is not to make this community us only by yourselves and only for us.
56:22
And what we pretend with this is to have allies and actually partners in other countries in each country. Because we acknowledge that there are people that have been evolving, like I can tell by the questions are familiar with what she has shared that she has a lot of insight that a lot of research behind. This is the kind of questions that Emily from late if they think that that comes from an expert mind No, that doesn't problem Someone that is the first time that here's this ideas and I am very aware that these ideas are not are not.
56:55
I am not there They don't have the Adam Adam syndrome. Like thinking I am the first of everything you know but I am very aware of that.
57:05
We have managed with a lot of effort to assembly what really was needed to make this happen, because these ideas have been on the collective unconscious for decades. If not centuries.
57:18
So, what I'm saying with this is that in the current stage of the project, we are focused on developing what we're doing.
57:28
But, once we're launched, we have a way in which people that is having partial aspects of the project with their own products, if they prove out of merit, that they are fully into the win-win. And they are, they get this ability to work around the game's, let's call it games, but it's intrapreneurs are not all the dynamic.
57:51
Then, we are leaving space in each country.
57:55
So they can make shares like, like mine, like mining shares out of conservation.
58:02
So, if any of you guys have products are alike, and you have contributions, that that can happen, you can also be partners of the project, By your knowledge.
58:12
You also, So, so, the, the, the thing here is that, currently, we are very focused on making this happen.
58:19
Because, if not, this is just, that is, we cannot spread all the knowledge of the product in this space.
58:27
But, this is intended just to secure it on this stage, because, it's still on developing develop development.
58:34
But, once we launch and obviously, through to John, because, John Dunne, in very short time we have we have protected that we are light from the same breathe.
58:44
So, So the intention with this is to be open, but to the people who will pay the price and it is not a price that is paid just with money or with what people call prices, is more that you can show proof that you are very clear that you are trustworthy, then we open the gate. And we can be even a co-founder of the project in your country. That is the, that is the tension twisting of what we're doing. So, So yes, that will like resume. What is the background behind because maybe I guess if you have guys, if you guys have there are more people like Emily. I will understand that. There will be curiosity of knowing more themes, Or how can you apply for your personal credit, but? At ... you guys just wait a little bit. I have shared a lot of insight in this session.
59:35
And my intention was to be super Robin, but currently we are providing some more details is to people that or either they're going to be investors in this stage or people that maybe has a special knowledge.
59:51
As in the case with John, we, whose knowledge we are going to, we are in the process of, of, done being, one of the main consultants, in order to, to build a legal infrastructure.
1:00:02
So so it's more towards that, than, to have it.
1:00:06
That's not being wiki in this stage, because we are also also taking care. But if you can have the questions that you can have right now, here, I am open to sharing this space.
1:00:18
And then, but if there is something that I feel that HE didn't share so far, then I will let you know. But so far, what Emily asks, if you guys have more questions, I am super open to share. Thank you, Andrea: I think George had a question?
1:00:33
I had the questions about the order form of about this.
1:00:39
Isn't decent speech? basically him?
1:00:43
I'm trying to start working with you, John, and to move this quarter worm.
1:00:50
But we're gonna find the video Do that OK, I can send you a message and show you how to do that.
1:00:58
I didn't understand. Sorry.
1:00:59
He was asking me something about something that's not related to the conversation, OK Were you able to send me an e-mail? George?
1:01:09
Yeah.
1:01:12
The singleton press at proton mail dot com I'll look for that OK. Yeah.
1:01:21
Just send me an e-mail. I'll make sure like I'm also on telegram. OK, at JJ Singleton.
1:01:27
Well, Audrey's, I'm gonna end it for now. I so much appreciate your time, and thank you. Thank you for the invitation. Yeah. Very good questions, guys, Appreciate your participation.
1:01:36
Until next time, ya'll enjoy your weekend, OK, thank you, guys, really nice to share the space with you.
1:01:44
Thank you. Thank you.
1:01:46
Thank you, Elaine, and thank you, everyone.