angel investor

Barbara Bickham – WIFAX Transcript

Barbara Bickham - WIFAX

Note: This transcript was automatically generated by artificial intelligence (AI) and therefore typos may be present.

Rob McNealy – RobMcNealy.com
Hey folks, Rob McNealy here. And I am real excited to talk to you guys today because we have an amazing guest. Her name is Barbara Bickham and she is an amazing woman. We met here probably about a month ago. And she is the managing partner of the women’s Innovation Fund accelerator, also known as with x. It’s kind of a VC firm. And it focuses on women in tech. And this is one of the things that’s really exciting. Barbara is also the founder and CTO of trailing ventures, which is a blockchain consulting company. So like to welcome to the show. Barbara, how are you today?

Barbara Bickham – WIFAXVC.com
I’m good. Thank you so much. Thank you for having me.

Rob McNealy – RobMcNealy.com 
Hey, you know, I’ve had a lot of good conversations with your last couple weeks and I’m said you need to come on the show because I because I think you have a perspective that I think a lot of people need to hear and I really like what you’re doing and where you’re focusing on you know, tech and bring more women and so look Let’s take a look to take a step back. And, you know, tell me a little bit about your career and how you got into tech.

Barbara Bickham – WIFAXVC.com
All right, well, this is one of the two stories I think you’ll ask me about. The second thing will be how did I get into blockchain? So no, I won’t ask that. You won’t ask them. That’s a famous one as well.

Rob McNealy – RobMcNealy.com
Okay. So it’s always you always have to ask how did you get into bitcoin and I never use that.

Barbara Bickham – WIFAXVC.com
Bitcoin. How do I get into the blockchain space? Exactly? separate question. But how did I become a tech girl tech girl. So um, when I was in high school, I had a project. And it was to make an area of a circle and it was in a computer science class. So my high school had computer science. I went to kind of a private Catholic school, and they had computer science there. And so the, the assignment was to make an area of a circle. And so I did that assignment and I did it in like a week. was to use, we had to print out a flowchart of how we would make the area of a circle. And I did it in Visual Basic. So this is like way back before any super fancy programming languages. So I did that. And I was like, well, this is kind of boring, I need to do more assignments. So what I decided to do was extend my flowchart and do every square error rectangle area of a triangle, because you..

Rob McNealy – RobMcNealy.com
Show off.

Barbara Bickham – WIFAXVC.com
…which one do you want to do. And then you could kind of click and say I want to do rectangle number four, and then it would do the do the flowchart and say, if it’s a rectangle, then compute the, you know, enter in the number and then you entered in the number and then it computed it. So that that didn’t take me too long. But that’s kind of how I fell in love with computers. So then after that I got into Berkeley, I still don’t know how that happened. It’s kind of a mystery, one of those life mysteries, because I didn’t really apply. So I’m trying to figure out how that happened. Maybe that was just on their radar, something that happens I guess, and go They’re not my computer science degree. I have a Bachelors of Arts. So it’s interesting because at Berkeley to get the bachelors of science you have to get into engineering school. And then the engineering school maybe you took all that Kimmy II, me physically and I didn’t want to take all that was it. I just wanted my lovely computers, I don’t need to have an engineering degree and a computer science degree. So I just took the CS part. So I went there, and then I got my first job. So after I got my first job, when I got it, they were like, Hey, we want you to create this program out of nothing. Here’s a blank paper. We want you to do this translating program, and we don’t care how you write it. We just want you to do it. Not when are you sure cuz I literally just graduated from school. Um, I don’t know, I don’t really have any experience writing code or doing this yet. So no, you went to Berkeley. You should printed out. So that became one of their biggest products It was called. It was called a story geometry note. So what we did was is we converted something from editors page planner, this is prior to the fancy internet, you had to actually print out paper, as like newspaper, the newspaper business is very different than it was back then. But this was one of the first computerized ways to actually print newspapers on the computer. So we had this ad makeup station, and then we had the ability to enter in stories. This thing kind of filled in the parts on the paper. If you had if you saw like ads in the corner, I was just like, here’s an ad or you saw like a small story in the corners like, here’s like Joe’s little commentary, that’s that was that was what that particular software did. It helped find kind of where to fill in pieces of paper. So that was my first job. After that I had a very traditional career, a lot of architecting and designing systems, a lot of managing people and and about 15 years into my career, I had an opportunity to start a company. So I started a company called tech deny what tection. I was originally. This is like story of pivots, what tech and I was originally it was supposed to be the ability to do wireless roaming across multiple networks. So Wi Fi network and cellular network. Those were the two back in the day that you were going to roam across. So I figured out how to do that. And I did all these surveys I did all this consumer asking and you know, focus groups and things that you do now in the Lean Startup method. And what happened was people found out I was in the wireless business, I’m in LA, and this is Hollywood. And I was talking to some of my entertainment friends and they said, Hey, can you put that American Idol stop avoiding and pulling in my show? I went Hmm. Yeah, I think I could do that. I knew all the people. So I pivoted, I completely pivoted my company to do that. And, and tech denies actually one of the wireless pioneers in the United States, we kind of brought the wireless into mass adoption. So we helped a lot with shortcodes. So when you texthelp 212345, that’s partially my fault, QR codes, partially my fault. So I work with a lot of the technology to kind of create the mass adoption. Um, so that’s what tech Gemini was. During the time of running that company. I had somebody come to me and go, Hey, I have an angel group. Would you like to run an angel group? And I said, Hmm, well, yeah, that could be interesting. Let me do that, too. So while I was running my company, tech tonight, I was also running this angel group. And so I ran a group called the pcn LA and I had about 400 angels in there and This was during 2008 2007 2008 2009. We all know what happened in there were a few less angels in 2009. And my angels were very great because they said, you know, a bar, we love you, but we’re kind of a little less angels now, right now in this moment. So I was like, okay, so I shut that down and then obviously had this. But then I found an opportunity to work with a private merchant bank, that kind of shut down. And so then I went back to my coding roots. So I went to work for a European company. I was the lone American in the European company. So I had workers in Europe and workers in India, so I was alone American. So that was also very interesting, because during that time, I had a lot of work to do, because you’re working from nine to 11. Because you have the Indian part, the British part, when you talk to them, when do they talk to you, you know, it’s like a lot of coordinating in that. So I did that, for about four years, and in that company, I actually won them an award. So they had something called AI hub IoT. They were an Internet of Things company. And I wrote, they had a contract for the government to deploy internet of things into various colleges and companies. So their first deployment, they needed a REST API and they didn’t have one. So the auditor came because we were being checked by the government. And they said, Well, look, in order for you guys to get your check. You have to have this stuff done. This was in August, and it was the stuff was due in October. So how many months is that? August, September, October, bam, okay. They’re like okay, Mark, who’s gonna write this and then my Maya, my colleague and kind of boss at the time, he’s like, all right, I said, You don’t you don’t have time right that you know, you’re Not gonna write that. So I’ll write it. And then the person I was supposed to write it didn’t didn’t want to write it either. So I said, Well, I’m not even supposed to be on this project, honestly. So I’ll just read it. So two months later, REST API comes out. We win a Gartner cool vendor award. We, the deployment was flawless. I think they found one problem in it, and I fixed it. And it was a very minor problem. Cuz somebody actually put in like, 26,000 requests in a minute. And I was like, well, that’s not good. I’ll wait limit this. And it but it didn’t fall over. So that was that was a claim to fame. So after that kind of ended, that was 2014 2015 popped out of the hole. I said, Well, you know what? I can’t be a VP of engineering anymore. I might as well now be a CTO. So I popped down and said, Hey, everybody, I’m a CTO now. And it’s funny. I went to start networking back and some of my groups and everyone’s like, I don’t You know, hey, they’re like, hey, Bob, what are you up to? I said, Well, I’m doing the CTO thing and they went, you know how to code. Why? Because when you have the CEO moniker, which I had at Tec nine, and these other things, like they don’t think you are, you came from a computer background, they had no clue. So you know, of course, I’m not going to have you know, technical person on myself, I have SEO, because I want you to take me as that. So that’s why I trailing I have CTO as my moniker. I am the CEO as well. But it’s like I want to meet make it clear, like I’m very technical. So you’re talking to a tech, the technical person, as well as trailing like that. So that so now, so like I became a CTO, and that kind of goes into trailing. So trailing is my blockchain advisory company, we kind of put companies on blockchains. We actually work with AI, AR and IoT. We work with all the emerging tech actually. So we have companies innovate on those areas. Um, what about trailing I mean, you know, we have private clients, I think trail is gonna morph a little bit. Because, you know, a lot of people need other types of technical help and strategic level technical help. And the other hand, I wear it with x, and we’ll talk about how that trajectory came as well. Um, I can help apply some of that into startups and I had been doing that prior to starting with x the fund, I’d always help companies raise money I’d always help companies with their pitches, I’d always help companies with their business strategy. How do you make revenues How do you make money What is your monetization because as a technical person, you have to understand like how is that now going to be implemented into your software? Now you can just do stripe easy, but what if you want to put something else in their cryptocurrency or what if you want to do PayPal or what if you want to do Braintree or Amazon or, or other, you know, other payment mechanisms. So you just got to be at work normal b2b, and then I don’t have to worry about it, you’re going to do a traditional, like, send an invoice. But even that can be done by a computer now. So the question becomes, from a, from a technical side, what do we need to put in here? To make it monetizable? What are the revenue models that impact the technology? And then how can we make that scale? So a lot of people never understood this, like, why is this important? It’s important because how are we making money here? You’re not gonna you know, if you’re gonna kind of give up things for free. Nowadays, you have to look at the scale of that what that has to be million people, 2 million people for it to be interesting for anybody. Whereas if you have, you know, 10,000 good people paying you every month, that’s a good thing. So you have to look at it that way. I think.

Rob McNealy – RobMcNealy.com
I think one of the things you’re touching on is common in tech is where you have developer led projects. Purchase versus like an entrepreneur lead project, where they kind of see different things, a lot of tech people, you know, they just want to build. But, you know, I always come at things, and I’m not a developer. But what I always kind of see is, you know, find a customer first and then build a solution to their problem and do that first. And I find when I started looking at businesses from that perspective, instead of just building something I had in my head. Now that can work but you know, you got to do a lot of diligence validation before you move forward on that. But I think, you know, there are a lot of developer led projects that don’t understand revenue, don’t understand business development and markets and things like that. And I think that’s important that you as a VC understand the tech side really heavily. But you also understand, you know, the business side, you’re like the Lee Iacocca of tech, right?

Barbara Bickham – WIFAXVC.com
Because Lee Iacocca was so awesome.

Rob McNealy – RobMcNealy.com
Well, you know, a lot of people don’t understand that he, you know, he was heavily involved with Product Development and Engineering. And I think he actually had was an engineer at one point. And then that’s when he developed them, you know, the marketing for developed the Mustang project and then later, you know, went to Chrysler and built all those products but he was one of those rare people that can make that transition from the tech side to the actual business and leadership side, because that’s rare. And and it’s interesting that you..

Barbara Bickham – WIFAXVC.com
I’ve always, I’ve always been interested in business and always said, I wouldn’t have a company even when I was young, a young person I you know, like the technology thing just kind of fell like it just kind of fell into and actually it just became my thing that I’m naturally was excellent to do. And I was blessed to find that very early. But I was always interested in fascinated by business and in from a technology side from a technical person side if you think about systems and how systems work, and how things flow like business is like an ultimate kind. systems level view of life because it’s kind of like how do these things work? What happens if you have to pivot? You know, we have the global pandemic, because I do call it the global pandemic, you know, how you know, all systems are shifting. So how do you strategically pivot or move that or change it and I think like my natural ability to architect and design systems, is is is kind of utilized when you look at things from a business perspective and go Okay, you can architect and design things in your business just like you would from a software or product side as well in my mind. So to me, there’s kind of, you know, it’s not really that different that different, but I agree with you. I think sometimes, you know, tech people are very tech heavy business people are very business heavy, but that’s why you need those alliances. That’s why you really need kind of to build an advisory board, a mastermind, you know, have other people kind of around you and and so you can get the advice of Look, this, you know, I’m building this like, Is there a market for this? Do I have competition? No, I don’t have any competition. You always have competition the way you the way it’s done now is competition. So, no. Hey. So I mean, you know that this is why bringing the business people in the 10 people together is very powerful.

Rob McNealy – RobMcNealy.com
I think so as well. So you you I won’t ask that one question. But you are involved in emerging technologies.

Barbara Bickham – WIFAXVC.com
I am I’m in all of them, actually.

Rob McNealy – RobMcNealy.com
So why focus on the emerging technologies versus more traditional programming and, you know, consulting models?

Barbara Bickham – WIFAXVC.com

In the emerging tech world, Well, okay, let’s take it pre pandemic, and then post pandemic. So if you look at what’s happened before, the global pandemic, what what was what what shifts were going on, you know, we’re, we’re in the US here, so I don’t know how how Global your your podcast as well. But the thing about it is if you think about it, we were talking about like voting. There’s a lot of conversations around voting. So why is voting not on some emerging tech platform where you could validate who you are, you have a slate of people, and then you go, Okay, I vote for this slate of people or whatever you check 1111 on a computer, on your phone, wherever, and then you submit it and you know, it’s you because they validated it was you, huh? Okay, does that sound technically, that’s not a hard problem to solve. But it’s some of this is really political will. So now if you look at post pandemic, we I know many countries that that stimulus. Now I also know many countries were clearly more prepared for stimulus than United States. So if you think about that distribution of money, or distribution period, it could be distribution of food. We have no shortage of those Toilet paper. Why was that? We had shortages of other things. Why was that these are distribution problems. If you look at that, like some of this could have been tracked and traced on these emerging tax and AI could have told you like, hey, you’re running out of toilet paper, and you only have like two weeks of toilet paper in the pipe, you might need to go order 15 or 20 weeks of toilet paper. Now, the AI also could have said the global supply of toilet paper is only five weeks. So for everyone on the planet, it’s only five weeks of toilet paper, something could have told us that. But um, you know, if you would have done a more traditional system, how would you have found that out? Who are you going to call? Who do you want to call you back? How are you going to know? It’s all centralized? So the one with all the toilet paper and we had people that did this, oh, I bought all this hand sanitizer and I bought all this stuff. We had people that were hoarding, so if you’re hoarding they were already mad asks, Who are you gonna? How are we going to find that out? It was going to be impossible. That’s why I work in the emerging tech field to actually solve problems at scale. Because all these things are going to be all infrastructure. AI is already pretty ubiquitous. People ask me about it all the time. What about AI? You know, if you go to McDonald’s, or Starbucks, I don’t know if you ever go to McDonald’s. I don’t really go there. But I found this out. Like when you go to most of these restaurants now and you order, you’re really talking to an AI, you’re not talking to a person. And then you’re talking to the AI and then sometimes they go, Oh, hold on, and then you hear a person interrupt. That is the AI has said, Hey, I don’t understand their order. I don’t understand something and then the person interrupts. So AI is very ubiquitous when you call the bank, which is annoying, or anything now the electric car, anything, if you call anything I called the phone week. That’s an AI. The AI is like, I don’t understand, I don’t understand. I’m like person 000 can I get to a person? No, it won’t let you. Yes. It’s like Hello, hello. So I mean, if you think about these emerging texts, it, they’re going to be all infrastructure. And so why don’t you want to be in kind of the next generation of what’s happening? Because, you know, post pandemic has proven a lot of things, what’s really going to be necessary and what is not and what skill sets are going to be necessary and what is not. I think that is whole other conversation.

Rob McNealy – RobMcNealy.com

That’s like a whole other conversation.

Barbara Bickham – WIFAXVC.com

Yeah, I think politics is a big deal. And I think that that definitely permeates, you know, a lot of different things. And I mean, we could unpack you know, things like the global pandemic and from the political side of it, which it’s been politicized and poison throughout, you know, all levels of Government and, and stuff and, and my wife’s a medical doctor who, you know, works kind of with the federal government. And so trust me, I we view the pandemic probably differently than a lot of people do. But we definitely are concerned and it definitely is a problem. And, and it’s a problem that’s solvable. And, and, you know, it’s like we we seem to the United States, it’s like, we certainly have had a hard time, you know, coming together as a people, I think that’s part of the problem is that you look at the countries that have done the best at like New Zealand, which is virus free now, or Sweden and the Netherlands.

Rob McNealy – RobMcNealy.com
Where they, they’ve come together, and they viewed it, you know, as they viewed it as the country versus the virus. And here, it’s the one side of the political aisle versus the other end versus the virus. So, and that’s the problem. And I think ultimately, you know, if from I think those of us who think in terms of actual solving problems and not all of it sticks. It’s hard for us to like, you know, you know, it’s a head scratcher. It’s definitely head scratcher. Um, okay, let’s, let’s pivot a little bit. Let’s talk a bit about with accent and what you’re doing with your accelerator with women in tech. What’s that all about?

Barbara Bickham – WIFAXVC.com 
Alright, so let me with x it you know, it’s called the women’s Innovation Fund accelerator. So the women portion of with x is that we like gender balanced sea level. So we like an equal amount of men and women, you can have a few more women than men. We do have a few people that are all women. But that’s where we do have one set that’s all man that’s like super rare. We usually don’t take those people. I kind of knew that person. So they they got in, but we like the balance. And I’ll tell you why in a minute, the innovation emerging tech and sustainability so we do the blockchain, ai AR IoT and they will also help the companies become sustainable companies because we believe those are Your next set of consumers, you know, a lot of younger people younger than us, I think, like the sustainability aspect. They like that you’re corporately responsible, environmentally responsible, socially responsible. So we kind of help the companies become that in the accelerator. We’re fun. We’re opportunities on impact fund. So we’re very localized. We’re about creating jobs giving opportunity to underserved, underrepresented people. That could be women that could be black and brown. It could be any income underrepresented people, and then we’re an accelerator. So our celebrator does two things. We help your company become fundable and we make you sustainable. So our fungibility quotient is we run this thing called the due diligence intensive. So I have a very rigorous due diligence package, and it’s six weeks. So we go through this checklist which is six pages. the back part What I have to do is a lot more pages. If you’re a blockchain company, it’s even extra pages. It’s like it goes between 28 and 35 pages that I have to do to, to validate like your real company, this is a real thing. You know, you get feedback on that. And then it’s two weeks of sustainability. So they get one year sustainability plan, which we track internal to our fund. So that’s what’s very different about our fund. You know, we’re not really a traditional, I mean, we are a venture fund or traditional and that way, you know, we like the traditional venture returns, but we’re also very community oriented or socially oriented. We like to work with people that want to scale big, global or global reach as well. We have partners in Korea, my other stuff, people on our board that help us get over into Asia and Korea. So, you know, we’re, we’re knocking that around. So that’s, that’s us in a nutshell. So we we absolutely feel the need to support women in STEM and steam. I mean, I’ve been in STEM and steam my whole life. It’s important, even not from a technological side to be in it, because most companies are tech enabled. But you need somebody that understands that like, Hey, are you going to be Facebook? Where you need heavy tech? Are you going to be something else where it’s tech enabled? So you know, there’s that as well. And then how are you you know, then you have your business wrappings as well. How are you going to monetize? How are you going to get customers how are you going to grow? How are you going to pivot? How you gonna? Yeah, so there’s a lot a lot to business and a lot to run your fund. Because then we have our portfolio construction how are we how are we getting everyone to play together? Then you have your you know, co investors and you have your your investors as many things running apart.

Rob McNealy – RobMcNealy.com
I can imagine. How many portfolio companies do you have now?

Barbara Bickham – WIFAXVC.com
So we have we have four portfolio companies that we put powder into. And we have about we’ve done 17 companies in acceleration.

Rob McNealy – RobMcNealy.com
Wow. That’s, that’s good. I’m sorry. You focus mainly with your accelerator on seed stage. Are you looking? How many stages Do you want to go to? And are you looking to grow your fund as well to later stage kind of companies?

Barbara Bickham – WIFAXVC.com
You know what, I think we’re probably like late seed early series. So that’s kind of where we want to play. Um, I think leader leader stage there are a lot of people that, you know, now you’re competing with like Andreessen Horowitz is and you know, like earliest bond and many you know, you’re dealing with like, a lot of other more mature funds at that stage. I still think that for women, there is a gap between seed and be like seed and be so We are in our fun we are doing follow on money. So like if you get an A and we do the A with someone, then we’re willing to do the be and be a part of that. And then I think if you get at that level, so we’re talking about 50 6070, hundred million dollar revenue level ish, then you know, you should be able to get either out or kind of, you know, up to the next levels. The other thing that we that we do here is we, we have something called a capital stack program, and we’re testing it on ourselves versus not ourselves, but on some of the portfolio companies. And what that is, is we look at how do you exit and then roll back. So what do we need to do to potentially get you to exit because the IPO market is frothy, like private companies are taking longer and longer to come out nine years, 10 years, 12 years, you know, that’s a long time if you’re sitting there at the seat or a level, that’s a long time to wait. So we say, Okay, how can we configure it so that you can potentially, you know, be attractive for an exit, which could be an acquisition, you’re acquiring, they’re acquiring. So that’s that’s how we see we see exits as well. So that’s that’s kind of how we were working. So far. It’s working well.

Rob McNealy – RobMcNealy.com
So if you had a project that wanted to come to you, but they don’t have a woman, do you have people in a stable that you can put on teams?

Barbara Bickham – WIFAXVC.com 28:28
Yes, we absolutely do. It depends on what they what the configuration is. But yes, we can put women on teams. Absolutely.

Rob McNealy – RobMcNealy.com 
So I really like what you’re doing and it’s kind of funny. My wife and I are big believers in STEM, and we actually homeschool our kids. And we have two we have two daughters and the reason we homeschool primarily, it’s not for religious reasons, which is pretty common among homeschoolers, but we want to ensure that our daughters and our sons but all our kids, got a really strong STEM education. So My oldest daughter is 17. And she’s going toward Chem engineering. But she’s already she’s finishing up her sophomore year college at 17. And so, yeah, so she’s doing that. And so she’s doing all but it’s interesting because all our kids are a couple years ahead of where they would be in public school. It’s just homeschool is just so much more efficient at getting kids through. And we found that stem is, you know, it’s one of the things that I’m concerned about the United States long term is culturally, we don’t value education as a country anymore. And I’m not sure we did for a long time either. But I think that I think we’re beginning to become less competitive as a country going forward. And, and a lot of that stem and I think a lot of the problems you’re seeing with all the people, you know, you see a lot of people like boomers and millennials that are struggling. And a lot of that goes back to, I think, a bad education model that we have in the United States. And in in I’m not trying to get political right. But…

Barbara Bickham – WIFAXVC.com 30:04
This is just factual. I mean, we’re talking about facts here. This is not a political statement, I mean, education that cuts across everything, and everyone, actually.

Rob McNealy – RobMcNealy.com
And what about one of the things that I see as a problem with education, and I think this affects girls too. So I think this is important is that we don’t focus on in the United States in our public school systems pretty much anywhere. We do not focus on science and education. And we don’t, we don’t train kids to mastery. We just push them through the system. And one of the things that we do different with our education, our values, we tell our kids look, it takes as long as it takes for you to master this however, you don’t go to the next level until you master it. We will give you all the tools that you need, including hiring tutors, or what have you, to get you to that mastery, but we don’t let our kids go to the next level of what others, whatever…

Barbara Bickham – WIFAXVC.com
Whatever it may be…

Rob McNealy – RobMcNealy.com
Unless they’re mastering it. Meaning that they basically get an A, you know? And when I tell people this that are my friends that have their kids a post with a like, Wow, that’s so mean that’s so hard. And I’m like, why would you progress, somebody who’s failing at something or just mediocre at something, because things only typically get harder as you go forward. And if you’re not having a good grasp of basics, you’re going to struggle. And and so it’s interesting and it’s interesting the United States on top of that with public school, you have so many people because of the way we do student loans and stuff that they had a lot of bad advice given to kids I think is like they take on so much debt…

Barbara Bickham – WIFAXVC.com 31:37
and a ton of debt…

Rob McNealy – RobMcNealy.com
…a ton of debt, but…

Barbara Bickham – WIFAXVC.com 31:40
…and no marketable skills…

Rob McNealy – RobMcNealy.com
…but they take on a lot of debt for no ROI. And so it’s interesting. So I mean, we’ve had a lot of a lot of arguments and time and and discussions, especially with my older kid. But she came around eventually, but we said look, if we’re going to pay for education now I think paying for an education is part of being a good parent, I think it’s I think we owe that. Now, that doesn’t mean that doesn’t have to be a college degree, but we think that you’re gonna move forward. You know, your kid has to have enough life skills to be independent at 18. Like they know how to drive a car, they know how to change tire, they know how to, like, do laundry could buy all those things in work and make money and make good business decisions, a good buying decision. I mean, we we have a very holistic approach, unlike an 18 my kids need to do these things. Because those things are important. And, and so I think what’s happened is you have all these people that for so long, they just like, Oh, I’m gonna go spend 100 grand to get this education that starting pay is like $16 an hour. And my one daughter, you know, she’s had she’s had to work hard to get where she’s getting with her grades in school because you know, stem is hard, okay, you have to do four levels of calculus for an engineering degree. Yeah, and what we said is, but I said it and right now it’s like, it’s kind of a joke. I have an MBA. And I also wanted to learn to be a welder. Because I like to make metal art. That’s my hobby. And last summer a year ago, I graduated from a year and a half long, full blown welding program. I’m a certified welder. I went to school full time for a year and a half to become a hobby welder is kind of funny, but I’m a full welder. And, and it was hard actually, because I’m not I don’t have great hand eye coordination, but but I learned to weld and it’s interesting because I got to be around a lot of kids or half my age. I was like, oldest guy in my class. I was older my instructor and you know, but a lot of these guys are blue collar kids, but these kids are coming out of welding school. They could do so it was a nighttime program four nights a week, right. So blue collar blue collar is again, I but I respect people that work with their hands. But the interesting thing is this this program from start Finished was less than over a year and a half and you paid it in payments $6,000. So, that’s the cost of vacation. Oh, maybe 6500 by the time you buy your welding helmet and all the gear, but it was about six grand is what it was. And you could work during the day. It was designed for people that had a day job. So you’re 18 years old. By the time you’re 19 you can have the certification, have a skill, don’t have to not work while you’re going to school because you can go at night. Now, here’s the interesting. They’re so desperate for welders in the United States right now. This this was interesting, and I was shocked. They had major corporations that are major industrial corporations coming to our welding program, trying to recruit us halfway through to start work bring the day starting at $30,000 a year, you know, or more up to 4030 to 40 K so like 15 to $20 an hour plus full benefits 401k Matching healthcare, you name it. I mean, all major typical corporate Pac benefits packages, vacation vacation, boot allowance, you name it, and I’m just like, oh my god. So, so think so think about this. And I tried to explain this to my kid when she’s like, wanting to look at a different lessor major that didn’t have a good ROI. And I said, Look, you know, we can pay whatever it’s going to be for you to go to the college and get this degree 30 $40,000 whatever it ends up being. And then you make 40 grand a year with this type of major that she was interested in and I said, Look, that’s not worth the money. I would rather you go to welding school. Or, you know, they they’re posting at the school for electronics technicians for a two year degree to be just an electronic repair started at 56,000 a year with a two year basically an associate degree from a community college people were starting. The local rail yard is starting It people at 35,000 a year with no experience to work in the rail industry. And you know, these are more hands on blue collar jobs. But…

Barbara Bickham – WIFAXVC.com
I mean, these are all you know, these are all interesting things because you still need some tech, you know, technical ability, you still need to do math, you can’t eld just wherever you are, you’ll need some type of creativity and thinking, you know, like, you’re still gonna have to measure so you’re gonna have to know some math, you know, I’m saying like, so, you know, because we’re talking about STEM and steam. And I think from, from a technology perspective, no matter what it is, you have to have that you may not have to have the science unless you want to do that heavy science like biology or you know, your soil. The problem for COVID-19 you’re trying to make a vaccine. You clearly need science for that. But the you know, the technology in the math part, I mean, as long as you’re a lifelong learner and you’re really good at what you do, and you really understand how systems work and things work. I mean, I don’t believe you have to have a traditional education. I mean, back in the day, we had to have a traditional education because we didn’t have the choice to do a traditional, you know, non traditional, we can go on, you know, now, if you think about it, even prior to everything happening, you could go online and learn anything. Like they have you to me, they had one, yeah, the Khan Academy, they had it they had, you know, like Berkeley and Stanford and all the other people that opened kind of opened up their, their edX platform, and you could go on to anything, so and you could learn anything. Um, so it’s not necessarily about where you learn it. It’s about are you learning? And then how do you then apply it? And I agree with you on mastery, because in this computer science world that I’ve been in a long time, mastery is important, because you could really, you know, I worked for a pacemaker company and That was interesting. But you don’t master have any mastery of what’s going on there, you’re going to kill somebody. So, you know, there are things where if you don’t have mastery, it can really hurt people in a bad way, in a negative way. And so I like what you said about that. And I think that we have gotten away from from that mastery and you know, even in your own craft, are you a master in your own craft, but if you think about education, which kind of started this conversation off, education, it has gotten completely, it’s completely failed. I’ve met multiple people from multiple colleges trying to get a job in the computer world, and they had peace and freedom degree. I don’t even know what that is like, what was the peace and freedom? Like and I don’t know how that relates to computers. And I don’t you know, yeah, you got a degree from Berkeley, but that’s a worthless piece of paper. So I really like you spent a lot of money on Nothing. And now you have to go get some PhD and peace and freedom. I don’t even know how that works or what you’re gonna do. But it’s kind of like, Did you not? Did you not think of this? Did your parents not have a conversation with you? Were you being rebellious and said, I’m gonna go get a piece of freedom degree and they said no, you should really be this Oh, like, you know that and then like did the school counselor really like say hey this is a good idea yeah you’re down for peace and freedom, like it doesn’t make some of these actual offerings of degrees make no sense.

Rob McNealy – RobMcNealy.com
And you’re getting a lot done I guess that was my my long winded tale is that you can get a very worthwhile high ROI education making good money without having to take off anytime and with at 19 years old you have you can make enough money with no debt so you can work your way through like a, I guess, a whole lot of different type of you know…

Barbara Bickham – WIFAXVC.com
It could be many things.

Rob McNealy – RobMcNealy.com
You know, the lot of things and not have any debt and have be completely self sustainable by the time you’re 20, where you’re if you’re making 40 grand a year and you’re 20, you can easily live on your own. If you bail, if you have decent money management skills in Utah, you can you could run your own apartment, have a new car, and live on that. And, and so, and what I see right now is so many people are in debt for these degrees that have no skills, there’s no ROI. And it’s like it came down to me it’s like it seems like no one had no parent had that conversation about does this conversation to take five years of your life to get this degree where you can’t work and I’m like, okay, we can go to welding school at night and never take off and lose any opportunity cost for working for five years. Work your way through pay as you go. And now you’re self sufficient in 19. But then, you know, and I was talking to like even in welding, that there’s a track to be a weld inspector and then an expert with other things and you can be a welding engineer. They do have bachelor’s degrees in it. Welding engineer so if you decide to keep going, so you can be an entrepreneur welders, like if you bought if you are an entrepreneur welder can make 60-80 bucks an hour if you have a weld shop and then if you are a mobile welder where you

Barbara Bickham – WIFAXVC.com
I mean there’s many different things, there’s all sorts, this is the business side of your actual like creativity. So like I kind of took my tech side and began, you know, in and created a business around that and saying with a fund I mean a fund is kind of like a business on steroids but still a business still need ROI. You still have to answer investors, you still have to make you know, decisions, you still have strategy slam, you know, a lot of things to do…

Rob McNealy – RobMcNealy.com
But it opens the door to make it so young people have a way to have a very successful life at a young age and still have lots of options. And no one talks about that, you know,

Barbara Bickham – WIFAXVC.com
You know who is actually very famous for this is Mike Rowe?

Rob McNealy – RobMcNealy.com
Yes, Dirty jobs.

Barbara Bickham – WIFAXVC.com
The Dirty Jobs. Yeah, he’s very, very good. Famous for, you know, hey, if you’re a welder, if you’re a plumber, if you’re, you know, the railroad guy, I mean sanitation, I mean, and they make decent money, they make decent money. I’m like 19 year old you make 40 or 50 grand. I mean, that’s, that’s decent money.

Rob McNealy – RobMcNealy.com
It’s in Utah. That’s amazing money. And so..

Barbara Bickham – WIFAXVC.com
You know, money in general. I mean, if you even in LA that’s decent money. That’s above what everyone else making..

Rob McNealy – RobMcNealy.com
And you want to hear somehting interesting, it’s like there was like one girl in my welding program and like she was recruited out like twice there would be the guys because because just like any other Corporation right now if you’re a woman or a minority, they do have preferential hiring because they’re trying to fill slots was well, all these big companies, right? They want minorities, they want women, they can’t get them to apply. And it was just really,

Barbara Bickham – WIFAXVC.com
I think you know, back to the education piece. I think that’s partially education as well because One of my very good friends has a daughter. She has two daughters. And they decided she decided that her daughter needed to be opted out of math. And I said, Don’t let them record that on her record. Don’t do that. Because then you’ll always be labeled as you can’t do math. Right. I said, well get her a tutor. I said, we’ll have some other people tutor. I said, don’t have her labeled as that. But I think that this happens a lot. Where girls are discouraged from doing the math and the science and the hard thing and encouraged even still to this day, because this is not you know, this, she’s, she’s out of college, but it still was in the last I’d say, five or six years, which isn’t so long ago, where girls are discouraged and and it’s crazy. It’s crazy. I mean, we have to as women and moms and aunts and grandmas and all those things have to have to stand them in Look, we cannot allow our girls younger girls to go through all these same things. We went through a we’re the pioneers, so we’re going to try and pave away and make it easier for them. And so this is why with x kind of exists, and this is why we’re doing the balance. We’re doing the balance because we said, Look, women are, you know, the statistics are there 2% funding all women insane. And you know, underrepresented founders, even less insane. So, you know, we’re not as representative in all the tech spaces in the stem and steam insane. That’s why we’re doing the innovation. That’s why we do the emerging tech is so that we can we can be a part of the next generation economy. And then you know, like, just like welders. I mean, you’re going to need engineers, you’re going to need scientists, you’re going to need you know, you’re going to need a welder to build the quantum computer. So I mean, Hey, you got to have that happening. And the drones You need the water to build the drones. But then you need somebody to call the drones and program the drums. So there’s, you know, there’s all these things that can be going on, in, in synergy and in an ecosystem way that all these things can play together. But then who’s looking at that? who’s thinking about that? I mean, we’re talking about it now. And we’re thinking about it clearly. But why are we so highly strategic things that you have to be thinking about? And so we talked about on our phone, we were trying to create the next generation workforce, which is all the stem and steam all these advanced tech because this is this is only going to come further and further and we’re concerned about AI replacing us, well, what are these people gonna do? Well, they can well, they can do other things. You know, there’s other things you can do and then they can be a part of the ecosystem. But then we can also train them to create the AI is create the data for the eyes, maintain the eyes. You know, there’s a lot of things you can train people to do next generation workforce next generation entrepreneur. So we’re trying to Get the next set of people to create the next set of companies, whatever those are, and then we’re trying to do the next generation investor. So if you’re not powdering, the people that are going to invest in the next set of people, because they’re successful, then what are you doing?

Rob McNealy – RobMcNealy.com
No idea. I think what I what I’d like to see is, you know, we create more role models, you know, about women and girls getting stem now, I think, you know, a lot of this and I think you probably know this too. There’s a lot of cultural bias against women being successful and independent in certain certain, you know, circles. Certain religions in certain cultures are very male dominated, and, you know, even the state I live in, in Utah, there’s still the man is in charge. And, and I can get into different you know, I could call out lots of different groups, but a lot of Orthodox groups don’t want women learning anything. And I think so there is a there are a lot of other cultural things that I think keep girls from learning things and discouraging and all I can say is I like to see more role models about what you’re doing. And I mean I’m living it with my own kids I want my girls to not say I think to me I want my kids to be absolutely successful and I want my kids to never have to be dependent or stuck in a situation where they can’t make a living on themselves so they want to be a stay at home mom with an engineering degree. That’s great. That’s a choice I mean, even when my wife laughter will medical school my wife we had to stay home for a couple of years before she went on to her career after she graduated from medical school because we had a sick one of our kids was very sick and and so but to me, I had no less respect for my wife and you know when she was you know being a stay at home mom and and we changed our life based on that and so to me, that’s how I view it is I want my kids to be have more options in life and and even think about like this right as a father and you have kids right? You know, you want the best for your kid right? In and to me. Let’s just be honest. Right on son who is a good earner and successful has a much better chance at having, let’s just say for lack of a better word, options when it comes to finding a spouse or a wife or you know, what have you going forward? Because they’re about they’re more attractive person, a better earner in the society is more likely to have more options. And, and I think it’s the same with a girl, you know, and to me, it’s like, you know, there’s some guys that don’t, you know, they’re still some caveman kind of guys that don’t want a smart wife, I disagree. I would I married up I’m first to say I was blessed, and I’m married way out of my league. And and you know, it’s been very good for us in. And I think I’ve learned a lot from my wife and I have a different perspective. So I’m more of a hands on problem solver. So my wife and I really balanced. We just had our 20th anniversary, too. So it’s working out so far. Thank you. And so and so to me, it’s like I just want those options and I wish that there were more role models out there showing that you know…

Barbara Bickham – WIFAXVC.com 49:00
I think girls have a lot more options. And just to you know, since I’m kind of in this, you know, in that space in the space of diversity in the space of diversity inclusion in the space of women. I mean, I’ve talked to many women, globally, like worldwide. And I think that the women are changing it for the women. And so I agree with you culturally, there’s still some, you know, things. And when we talk about things in a systemic way, when I say that this is systemic, it’s complacency. It’s the fact that you’re allowing it to go on and on and on and on continuously until the end of talk that’s that’s to me, was this something systemic is it’s not, you know, that it’s a system and it’s against, you know, the systemic part is complacency, the fact that no one does anything, everyone knows, no one says anything, no one does anything that creates problems that creates a systemic problem, period, whatever, whatever you want to label the problem at But I say that to say this, I think that, you know, globally women are really moving forward in many aspects, and it’s just not seen. And I think like, do you have, you know, role models are powerful and they’re important, but you have to ask yourself, like, Who are these role models? So like, when I saw the Hidden Figures, I actually knew the somebody who was related to to one of the Hidden Figures, but like, Who knew about that, like, I didn’t know, like, so the other the other part of it is, is to surface these people. And these pioneers and these women that have done so many things, and and show like, hey, that you have no limitation, like in like, I’ve never felt like personally I’ve ever had a limitation as to what I could do or not do. And I think sometimes we put limitations on ourselves, but I’ve never felt that my parents never told me like, hey, you’re limited because of XYZ, ABC like that. That was never a conversation in the household. don’t have that conversation with my son. He say, Man, you got unlimited what have you, Mom, I was afraid. I said, I don’t know why I mean, I didn’t do this, this this, this so like, what what made you think I was going to be different? Um, so I think like really, it’s a it’s your mindset and your limiting of yourself in the end. And you know, I have friends with lots of daughters and I said they, you know, they can be Unlimited, but really it’s a factor of the parents. I think your daughters will be unlimited because you guys you know, if from from our conversation, you’re very supportive, very loving, you know, they’re gonna see like, what is a real family? What is a mom and a dad? How does that really work? And I think like they’re gonna have no limitations, because part of it is just being clear on yourself and not being afraid of your capability. I think a lot of women are afraid of capability. I hear about this imposter syndrome. People said, if you have that, I’m like, No, no, that is like, you just do it. I’m an entrepreneur in the end like, I mean, you Gotta get over stuff like stuff happens, you fail, you know, things happen you failed stuff doesn’t work out. Okay, next. That’s that’s entrepreneurial difference in my mind.

Rob McNealy – RobMcNealy.com
But I also think that’s part of the problem with our country with entrepreneurs and it’s even worse in places like Europe where they really don’t like entrepreneurs, which is interesting. Yes, I always tell I think we need to know man, we gotta have another conversation actually.

Barbara Bickham – WIFAXVC.com
Awesome. We will, no worries.

Rob McNealy – RobMcNealy.com
But I definitely think that we don’t even at least with to public schools, we don’t teach things that are important like financial literacy or entrepreneurship. And I think part of the problem is that you have teachers that are financially illiterate and they’re not entrepreneurs so they don’t understand those things even with my welding program. I know I keep going back to that but it was I learned a lot I actually learned a lot.

Barbara Bickham – WIFAXVC.com
I’m gonna I’m gonna counteract your your your point there because I have been in some schools and schools are starting it depends on where you are. And it really depends on the superintendent or like really the head top person in the school, because I’m in a couple of school districts where they were really trying to teach the kids entrepreneurship, expose them to entrepreneurship. A few years ago, I was mentoring some kids 2010 I was mentoring some kids and man, kids, kids have some amazing ideas. And they tell you like, Hey, I’m going to babysit. And then I’m going to hire my friends to babysit. And I said, well, is this just you gonna be babysitting? No, and I’m gonna charge this and then I’m gonna only take so many babies. And I was like, wow, these kids have so many. But I mean, or like somebody was trying to sell candy or canvas because they had this candy because their parents were making this can’t. I mean, it’s amazing. Kids haveamazing ideas. The thing that we need to do as adults is go, Well, look, these are amazing ideas and support them in their ideas, because they’re already afraid because you’re like a dis adult and they think, oh, you’re this adult and they’ve not gonna take me seriously. But it doesn’t mean you’re not serious. It just means that maybe you A little bit of boost and a little bit of confidence boosting like, Hey, this is just as good as ideas anybody else that the real question is, what are you gonna do about it now?

Rob McNealy – RobMcNealy.com
They’re gonna call you. Barbara where can people find out more about you?

Barbara Bickham – WIFAXVC.com
Ah, so you can find out more about me on a couple of places. If you go to WWW dot with facts VC wi FX DC calm. That’s one place. That’s sort of fun. And then if you want to know about trailing you go to www. Trailing tra Li n com. That’s my blockchain advisory. Find out plenty about me there. All my social media is there. So I’m on all the social media, LinkedIn, Facebook, Instagram, Pinterest, Twitter, I’m on everything.

Rob McNealy – RobMcNealy.com
Barbara, I’ve had a really good time today and I do appreciate you coming on the show. Hey, folks, is Rob McNealy make sure you check it out. Check us out on the web at RobMcNealy.com and hit that subscribe button and we’ll catch next time.

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Barbara Bickham – WIFAX

Barbara Bickham talks with Rob McNealy about her women focused startup accelerator-WIFAX, emerging technology and entrepreneurship.

Darryll DiPietro – Coincierge.Club

Darryll DiPietro - Coincierge.ClubIn this Episode

Darryll DiPietro – Founder & CEO of Coincierge.Club, talks with Rob McNealy about their hospitality use case for crypto, venture capital, and crypto exchanges.

About Darryll DiPietro

Darryll DiPietro was born in Farmington Connecticut in 1982. His father was a professional fire fighter and his mother worked in the banking industry. In 2002, Darryll enrolled in Gibbs College in Norwalk Connecticut.  While at Gibbs, he took an interest in the Academy of Arts College in San Francisco California. Darryll was accepted and moved out west in August of 2003.

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Darryll DiPietro – Coincierge.Club Transcript

Darryll DiPietro - Coincierge.Club

Note: This transcript was automatically generated by artificial intelligence (AI) and therefore typos may be present.

Rob McNealy
Today I’m talking alright. Today I’m talking to Darryll DiPietro, he is the founder and CEO of Coincierge Club. How are you today, Darrell? doing? Well, Rob, how are you doing? I’m glad we finally got to connect here because we’ve been hanging out for a while now. And it’s glad that you know, I’m glad you’ve taken the time because I’ve been trying to get you on the show for a while now. So before we jump into some of the hot topics of the day, and trust me, I think we got a lot of fun stuff to cover today. For the people who are not familiar with you, which I can’t believe there’s anybody that’s not familiar with you. Who are you? And what are you doing?

Darryll DiPietro – Coincierge Club
I am Darryll DiPietro. I am the founder and CEO of coin Sierra Club, and we built a mobile private key wallet with 30,000 different digital assets on it and a point of sale which allows users to use those assets, very simple to use. And we’re just here to try to help the crypto industry and kind of bring a bunch of different projects together along the way.

Rob McNealy
Wow. Hello. got that down. I guess you’ve been practicing your elevator pitch. So how did you get so good at your elevator pitch

Darryll DiPietro – Coincierge Club
up pitch to at least 200 250 times already. I’ve pitched from, you know, just anybody that wants to hear me talk to some of the biggest VCs in the valley. And they get the same pitch every single time.

Rob McNealy
So the valley, so I know that you’ve been doing a lot of entrepreneurial education kind of stuff. Tell me a little bit about kind of the stuff you’ve been working on to help grow what you’ve been doing.

Darryll DiPietro – Coincierge Club
Yeah. So in about two years ago, we started our journey in Silicon Valley. It started off with a Google event called Startup Grind. They have it in Redwood City. And that’s when we started meeting VCs and finding out that there is a way to get funding if you fit in a certain mold that these venture capitalists are looking for. They want to see revenue, they want to see growth, they want to see percentages, and they want statistics. They don’t care about height. They don’t care who’s backing your project. They only care about the actual fundamentals of the project numbers, employees growth, things like that. So we started this journey. We are You know, ended up going to Martha’s Vineyard did some stuff out there with some other VCs but brought back to the valley for launch 2018. And that’s when we really started to focus on how to build this brand in the way that a venture capitalist wants to see it. We’ve done a bunch of deal clubs. We did a deal club in New York became partners with Rob Charles and Goldfinger, which is a cryptocurrency back deal club on Wall Street. We did got six, seven months in New York, beginning of 2019. And then we came back around to San Francisco through an event at the end of June out there I was moderately successful, but it allowed us to establish a brand up there and then we got into a VC accelerator program in Santa Clara. And that was eight weeks of non stop work. We produced over 80 documents during that time. Things like we just talked about the elevator pitch or hone. Our pitch deck was honed our business plan was honed all these things that we maybe had but no one professional that ever sat down and said hey, you know what? This is okay. But it could be great or this is not okay. But it needs to be great. And so We went through and we developed all these items we develop, you know, fleshed out, our business plan fleshed out our five year, you know, goals, three year goals, HR plans, fundraising goals, where we’re going. And then at the end, they helped us build the perfect pitch deck, which we’ve been able to go out and pitch to a few different VCs in multiple locations, including Silicon Valley. We also pitch to an accelerator out here in Nevada. And so that’s really where we’re at. We’re trying to be that actual crypto company that follows legitimate rules. We’re trying to follow the way that you would build any other type of tech company. Whereas if you had a social media platform that has nothing to do with crypto, if you had the next Airbnb, the next Uber, these guys all went through the exact same programs, the exact same training and got the exact same, you know, feedback and built the same pitch decks just relevant to their own projects. And that’s what we’re lacking in the crypto space right now is you know, in the beginning or right around the time that I got into It, it seemed as if it was anybody with a white paper could raise 510 20 $40 million. And most of those projects have gone to the wayside was a lack of knowledge in the industry. So as we watched this happen, we said, you know what we’ve always wanted to be on the ethical side of everything that we do. So we’re going to follow traditional VC funding, a lot of people don’t believe in it. A lot of people think that we’re dealing with the enemy in you know, the people that have the money shouldn’t have access to the crypto, but in the end, these are the guys that are funding unicorn companies. And I think that that’s everyone’s goal in this space is to have a highly profitable business and we know that that’s the way we need to go. So we’re doing a lot of stuff up there.

Rob McNealy
So why didn’t you do an Ico that and why didn’t you try to fundraise just by selling off your own coins?

Darryll DiPietro – Coincierge Club
Well, it’s interesting. We actually did have a small raise less than $10,000 less than what the SEC would have any concern about and it wasn’t about getting rich, like a lot of these projects did where they just raised a bunch of money and didn’t know what to do with it. We had a set set of goals we needed to be Build a server, we needed to build out our mobile applications. And we needed development funds. And so we did, we raised enough money to build a server to get a static IP and to be able to actually host this application. And we hired my friend Michael hue, who is a subcontractor for the US God to come in and build out these two nearly bulletproof applications. And that’s what we needed the funding for. But we never asked for anything more. We never tried to raise money that you know, we just go into our pockets or pay for lambos or, you know, these expensive parties or some of these crazy things that we saw in late 2017, early 2018.

Rob McNealy
No, so you don’t have a Lambo. So what you’re telling me, I’m kind of bummed. I bummed by that.

Darryll DiPietro – Coincierge Club
I’ve got an Acura. Everybody’s seen it. It’s

Rob McNealy
$200 a month. So what exactly specifically is what problem is your, your product? What are you trying to solve? What are you trying to do with your project?

Darryll DiPietro – Coincierge Club
It’s interesting that you asked me that because if you’d asked me that about a year ago I would have given you a different answer. And the reason for that is the industry has evolved. So currently, right now we’re trying to help liquidate coins that have no value. But the overall idea and what I would have answered a year ago is we’re trying to bring everybody to one wallet. We’re trying to get everybody with all these multiple different chains and multiple different coins in different wallets, with with their own private keys are not only in their own private keys, and we’re trying to get everybody to move towards a mobile private key wallet where users hold their keys. And they have a vendor network where they can spend this crypto, because if you’re not spending crypto, then what the heck is the point? Most of these coins, the values been lost? Most of these projects have dissolved and people hold this value in these one off wallets. Why can’t you spend that at the gas station? Why can you spend that at the grocery store? So we looked at that problem. But the issue we ran into instantly was like I said, there is no value on some of these coins and people aren’t willing to take that hit. So we looked at kind of modifying it into a coupon style liquidation of these all coin values where users get tangible value in tourism. And it seems to be working well, you know, we’ve thrown a bunch of events where people have come in and spent different all coins on different things. You’ve been a few of them, or at least one of them. And so, you know, we’re trying to, we’re trying to evolve with the industry as the industry evolves. But the underlying technology has really not changed in two years. It’s a mobile privacy wallet, a point of sale, users hold our own keys, there’s no information that gets sent to the devices. It’s built by us due to subcontractors. So the security is number one. But again, you know, it’s it’s difficult to stay relevant in this industry. So you constantly have to look for new ways to reinvent your product to stay relevant.

Rob McNealy
So, you’re saying that you’re basically taking existing tokens from dead projects and then recycling them into something that has value?

Darryll DiPietro – Coincierge Club
That’s right.

Rob McNealy
How?

Darryll DiPietro – Coincierge Club
By knowing how they hosp..exactly by knowing hospitality industry works and attacking the soft costs associated with that. So for example, out here in Las Vegas, we get complimentary bottle service that bottle service does not cost us anything the venue comps it out. Why can’t we tip in cryptocurrency? Why can’t we tip the door guy that lets our people in in cryptocurrency Why can’t we pay for that complimentary beer that we get at the bar and cryptocurrency and so a light bulb went off and said wait a minute, this this whole industry of really its cash its cash driven industry right now that is undocumented. There is no you know, record of you throwing the door Guy 100 bucks, or the door Guy $20 or the cocktail server $50. Why can’t they accept crypto?

Rob McNealy
Well, I think they can, I guess the I understand

Unknown Speaker
No, because their venues the venues won’t allow it. And gaming won’t allow it. And so that’s when we come in and we circumvent the gaming laws that prevent them from doing so and allow these users the Your businesses to accept these coins.

Rob McNealy
Right? And I understand I’m gonna I’m gonna play hardball with you because I’m trying I don’t understand it like I understand. If you create your own brand, your own coin that works on your own platform and integrate that that makes those economics I can understand. I don’t understand the economics of taking other people’s dead projects that may not be traded that may not have value, how you using them in some way creates value with them where they’re already considered dead or not really being used. That’s the part I just don’t understand. Why would you Why do you want to take these other coins that are out there are tokens that are dead? Why not just work with your own token?

Darryll DiPietro – Coincierge Club
I’ve got the perfect answer for you. So that is on CMC that has a dead project, like a verge or something like that.

Rob McNealy
Verge actually got a pretty robust community so I wouldn’t say Verge.

Darryll DiPietro – Coincierge Club
I’m just naming names name a coin on there that

Rob McNealy
SALT.

Darryll DiPietro – Coincierge Club
Great SALT

Rob McNealy
SALT, Pac Coin.

Darryll DiPietro – Coincierge Club
Either one doesn’t matter will take SALT because it’s the first one you said. So salt is on CMC and you can see what their market cap is. And you can see what one coin is trading at not having that knowledge in front of me. I’m assuming you’re maybe googling that right now. But let’s just call let’s just say one salt coin goes for $5 a coin. Okay?

Rob McNealy
Six cents.

Darryll DiPietro – Coincierge Club
Okay, even better. Okay, so six cents a coin. So in order to have $6, that’s 100 coins of salt coin. Correct. Correct. So if you take 100 coins and you go to one of our vendors and you buy a $6 beer, you now got $6 worth of that coin. You weren’t able to sell it on an exchange because there really isn’t anybody banging at the door to get salt right now. The vendor who did not pay for that beer gives you that beer and also gets $6 worth of salt, which may or may not be worth something down the road. So are the arbitrage value here is actually reestablishing a value for these dead tokens connected Physical tangible assets that users can hold. So you’d say are you taking their coins and then converting them to your own token and then on your platform, you’re basically doing the trading with your own coin or token, we don’t do any trading for the we don’t do any, we literally have a hands off approach to this. So, the vendors that we work with hold these coins, we can show them how to liquidate them through the waves decks or through other means, but we do not liquidate to feeha we don’t exchange the currency errs. This is simply they they would normally not be getting anything for this competition value. Now they’re getting something that could potentially worth a lot more.

Rob McNealy
So I get so I download your wallet. And I go in there and do I just have to then buy on that on through your wallet. I have to buy whatever the whatever these tokens that I want, or do I just buy

Darryll DiPietro – Coincierge Club
Most of the time users already have the tokens on other platforms and they just migrate them over remember, we have 30,000 digital assets on that platform. So there’s except for the big except for a lot of the ERC 2720 tokens, we can onboard those coins. And if there is a coin that isn’t on boarded or a platform TUSC, we can make that, yeah, we can make that happen in about 15 minutes. So it’s not a hard process. And it doesn’t mean that it’s not like we’re sitting here being like, Oh, you have to buy $20 $100 $200 of our coin to use our platform. You literally don’t, you literally have to have at least one Coincierge Club coin trading at about two cents right now in order to try to do the transaction.

Rob McNealy
It’s interesting, I need to wrap my head about it, to be honest.

Darryll DiPietro – Coincierge Club
Understand we make money off the transactions. That’s how we make our money. We’re very clear about that. We have a premium SAS model for our vendors, which they pay us also monthly. So for the user, it’s exceptionally cheap and it’s just The traditional type of transaction you’re used to sending in crypto, where you pay user generated fee.

Rob McNealy
So how So basically, at this point, then you didn’t do an Ico but you did do a small raise. Where are you on the funding of it right now?

Darryll DiPietro – Coincierge Club
We’ve raised $72,000, traditionally through convertible note, and equity swaps. We started off doing equity, then we incorporated in March of 18. Switch to a convertible note offering. We’re doing a late seed round raise right now, which I don’t think the SEC would like me to say what the amount is or how that is, but if you’re interested in finding out privately reach out to us and have this conversations, we try to make sure that we follow the law. It’s kind of interesting that this space was bred out of the opposite of that, but uh, we try to make sure we follow up.

Rob McNealy
You know, I think that a lot of people got into crypto not because they necessarily wanted to get around the law. I think, well, there’s some people that are just straight up criminals, but I think a lot of people Got into this space because they didn’t like the existing power brokers that are being very centralized. And I think there’s a nuance there, right. Like, I don’t want to break the law. And before we even launched with our own token two years ago, you know, we spent a lot of time talking to attorneys. I personally talked to the SEC attorneys about securities offerings and and understanding that I didn’t want to launch any legal security. And here’s the thing, not that I really care that much about laws and government, everybody who knows me knows I’m pretty, I can be pretty political at times. But the thing is, to me, if you’re launching a project, you know, in the startup, and you understand this, because you’re going through this accelerator stuff this whole, you know, regulatory risk is what it’s called right? To me. If you’re a startup founder, and you’re not out there hardcore, trying to understand what risks your startup faces and then having plans to mitigate those risks and regulatory risk is a huge piece of that, then your friends as a founder, you’re a moron. And you’re probably going to lose people’s money if you don’t care about regulatory risk. Now, you can say you hate the government all you want, that doesn’t mean that they’re still not relevant to what you’re doing. Right?

Darryll DiPietro – Coincierge Club
Exactly. You have to make sure you stay on the correct side of the law. And it’s difficult because like you said, a lot of these people I know, you know, you have a token that is for sorry, coin, that’s for the Second Amendment. And a lot of people will look at that and say, Oh, he must be anti government. No, I mean, the second amendment is part of the government. It actually is one of the like, founding principles of what makes our government work. And so you have to look at stuff like that. You can’t just be this rogue person out there in the space trying to, you know, change. I know, disruption is something that they connect with the centralization and the blockchain, but the FinTech side of it is highly regulated. And if you want to play in this game, I mean, you’re playing with the people that have all the money in the world. For example, you know, I’m sure You saw that we signed with Wilson Sonsini. That’s one of the biggest law firms in Silicon Valley. They handle everything from a pre seed to an IPO. So for our next round of raising like we’re in, we’re in the process of onboarding. We’re going to be moving our cap table over to kartha. We’re going to be doing the things that the Draper’s do, we’re going to be doing the things that Erik Voorhees does, we’re going to be doing the things that the VCs that are in our space are looking for so that we can scale this thing the correct way.

Rob McNealy
So what is the correct way? What is your kind of long term goal for your project?

Darryll DiPietro – Coincierge Club
We’re, we thought we were ready for a series A after going through this accelerator, we realized we weren’t quite there yet. We need to find a product market fit. That’s our next goal. So we have about 600 or so wallets on the system. We saw 14% uptick last month and we’re doing about 1000 transactions a month on the coin. So we just seem to do a lot of AV testing. It’s probably going to take us maybe about another six months of AV testing for product market. Fit To find out how to get this thing to scale. And so that’s why we’re doing the smaller raise of that. And then we’re going to go after a traditional series a raise, we see this thing through, we see this thing growing and scaling through a series C, we’ve talked to a few different firms that have given us, you know, verbal commitments on Series B. So we know what we need to do to get to that point. We have specific, you know, metric intervals that we need to hit. But, you know, there’s, there’s really realistically The sky’s the limit, because there’s not a lot of people that are building multiple chain wallets right now. And there’s a few and we’ve outlined those as competition in our business plan. But realistically, cold people are still trying to figure out how to launch coins on their own wallets. And the ones that are out there that hold multiple chains, hold the users private keys.

Rob McNealy
And you’re doing it without holding their private keys. Correct?

Darryll DiPietro – Coincierge Club
Correct. We never not only do we not see your private key, we can’t even reset your password.

Rob McNealy
Well do the other ones reset your password?

Darryll DiPietro – Coincierge Club
Yeah. I mean, if you look at the competition without trying to throw shade on anybody that’s out there. What will Coinbase for example, Coinbase has how many coins on there that six or seven. I haven’t been a coin base in a minute, but I know they have the GD x as well. And they’ve got a lot of different tokens on there, but they hold your keys if there is a DDoS attack on that platform that’s gone. And people think that’s a wallet. And people have confidence in it. And they say, Oh, I have FDIC insurance. No, you don’t. You have FDIC insurance on your US dollars, not on your Bitcoin that’s in there. A lot of the exchanges that are out there that people are using like a crack in, although we do like those guys who met those guys up and walk out Wyoming. They hold your private keys, these wallets or exchanges, hold your private keys. And anytime a hacker wants to go in there and walk around they can and they can take that money out of your account. And there’s literally nothing you can do about that.

Rob McNealy
You got me kind of stressed out to be honest.

Darryll DiPietro – Coincierge Club
Why is that? Don’t you

Rob McNealy
Now I actually naturally don’t. You would not believe I’m not the one in charge of that though. So the the wife is the she’s the keeper when it comes down to cracking the whip on the detail stuff like that I’m not allowed to touch the money, you know, so, but she’s much smarter than I am. So it’s okay. I don’t even know where the private key actually I know where all the private keys are. But we, we have a workflow per for our own personal finances. And we’re very, I guess you would say where we have a lot of redundancy plans for, you know, it’s really, you know, it will look how many people are dying out there and then they, you know, they don’t need their their spouses don’t even know where their keys are, they lose millions of dollars. I mean, it’s ridiculous. I actually think that’s a problem with crypto that needs to be addressed.

Darryll DiPietro – Coincierge Club
Not only about like, third party custody, I mean, obviously, I was looking into doing something with that children and trying to leave some sort of like, you know, will or some sort of crypto Trust Fund, if you will, and the only thing I could really come up with is low the private key on a USB drive, put the USB drive into a security box at a bank, and then a studio that has access to that. And that’s not the answer.

Rob McNealy
I actually think it absolutely could be an answer. In fact, there’s private safe deposit vaults that are out there that are Safe Haven Vaults is a new franchise. Vegas.

Darryll DiPietro – Coincierge Club
I didn’t think about that until you said it.

Rob McNealy
Yeah. And so like for safe haven, for instance, there’s no AML KYC because they’re not a bank. And they have full biometrics, they don’t know who you are. And unlike a bank, who does know who you are, so there’s a lot of privacy that’s being retained. And then what happens is, you have a customer you have like a next of line, basically data card that you put on top of your box inside their box, so that if you they ever have to drill your box out, your box is still locked, but now they have the person to call Say, Hey, your contents are here. So they got a good solution for that. And I think that’s an excellent, you know, something to look at out there for that besides just normal personal handling, I don’t have an issue if you want to, you know, put information on jump drive, and that’s encrypted, and then someone else has the key for that. But you need to have backups. And I think that you see a lot out there that you know, the husband is the one who does all the finances and there’s no instructions on how to deal with it and he dies and the wife’s you know, the widow was left in the dust and, and that’s a problem. But we have a problem with that now, even with bank accounts and things like that, that’s why there’s 10s of millions of dollars and hundreds of millions of dollars in lost funds that different states hold right because that exact problem they forgot about bank accounts and things like that. But I think that’s that I think that going forward is something that’s going to have to be fixed because the public the I think right now the public isn’t ready for crypto because it’s so because of its unforgiving nature.

Darryll DiPietro – Coincierge Club
Yeah, it’s very, you know, finite When it comes to those keys, I mean, if you do not have them well, on the platforms that would like we’re building and what other you know, our competitors are building. It’s very finite when it comes to that.

Rob McNealy
Well, I will absolutely i mean, i, we’ve even have, you know, we’re an open project that we have lots of volunteer dabs, and we’ve had developers lose their keys. And you’re like, you’re the developer, and you, you know, misplace your keys. Yeah. And we had one of the early developers that was working with us when we were still in ERC 20 token, he put his private keys on a text file on his hard drive, and his hard drive failed, and he couldn’t recover it and lost a lot of money. And there was nothing we could do. There was just nothing we could do about it. And I felt bad but and it led to him leaving the project because he didn’t have any and he didn’t have any skin in the game at that point, which just kind of sucks and to me,

Darryll DiPietro – Coincierge Club
it’s completely cannot recover from that hard drive the totally fried out the hard drive?

Rob McNealy
Yeah, I don’t understand it was a platter failure. Something.

Darryll DiPietro – Coincierge Club
I fried a hard drive on a MacBook and I hired a nerd to come in and he was able to recover everything.

Rob McNealy
Yeah. And I understand that I’m just he said he did everything he couldn’t he couldn’t do it. So I don’t understand that. But I know that it didn’t, his tokens didn’t make the swap. So he didn’t he was not able to recover them before we became a coin and did our swap. Because at this point, it doesn’t matter anymore because we’re not a token anymore. So wherever we have our own coin, on our own chain.

Darryll DiPietro – Coincierge Club
Could you just create those tokens for him, and then I guess, because you guys never recovered the coins that were on his hard drive, you couldn’t issue.

Rob McNealy
What we ended up doing is there was some coins that we knew that were lost that were recovered and they were put back into the worker proposal fund for costs. So the ones that we could valid verify that did not make the swap, because when we swapped we had to create a supply of TUSC to accommodate The supply of OCC.

Darryll DiPietro – Coincierge Club
We’re doing something similar with ERC 20 Coincierge, so..

Rob McNealy
Yeah so so we had to create enough in that when we did the Genesis block for our block chain. We had to create 50 billion coins to match the hundred billion OCC because we swapped it a 2:1 ratio because we brought her we shrunk our supply a little bit. Half you know so we’re up and then when we created the blockchain we had to initially essentially pre mine those 50 billion so..

Darryll DiPietro – Coincierge Club
What happened to my question, excuse me think what happened to my OCC coins that were on? What’s that game you walk around the Pokemon

Rob McNealy
AirCoins?

Darryll DiPietro – Coincierge Club
Yeah. I haven’t even looked.

Rob McNealy
Yep, they are TUSC. So we we work with. So we work with Aircoins on that. So how it worked with air coins was the same way. Because of our swap. Our swap was a manual process. We created a dap where you had to manually move your OCC tokens. You had to create a task account. Yeah, then You had to manually on your own dime, move your OCC tokens to an Omega address, and then a tab, basically attach your account name and then your account credit. And then you had to download your own keys. And then when we launched, essentially, your account was created and credited with the correct number of OCC.

Darryll DiPietro – Coincierge Club
And it worked in the background, or did you automate that process?

Rob McNealy
Or no, it was completely manual process. We made a Dappthat you had to it was a website, essentially.

Darryll DiPietro – Coincierge Club
That’s why I’m asking because we’ve got I

Rob McNealy
We’ll talk I could I’ll tell you everything we did offline. Yeah. Essentially, yes, we did create a system that worked and worked very well. And it was a very slick system, actually, because we researched a lot of swap, right. This isn’t for interoperability, or there’s no OCC.

I really well, I don’t know if it would be the best way to do it ongoing because I’m not a developer. But I know that we spent a lot of time in our dev team spent a lot of time looking at There, you know all the major Icos that did the same thing. Most of them did a really bad job. Some Icos, even some big ones literally had your own private key.

Darryll DiPietro – Coincierge Club
I know and its EOS will never work. And that’s why Ethereum will never work because there’s half of that EOS are part of the EOS network stuck on a theory I’m still and well in that

Rob McNealy
Yeah, so we actually made it so you had to login with meta mask. Okay, so you so you controlled your wall, we didn’t control any of it. And there’s a little trick I’m not going to tell you what they did. But our our guys figured it out. And they figured out a brilliant I’m work with our swap went almost flawlessly. And you guys watch like two days ago, right? Or? Yes, no, not yesterday, like couple days ago, right?

So we did the swap ended in October. So we did the swap in October. And then we just brought the gooey wallet and the gooey block explore online and brought our block producers in this last week. So we went through the whole process this week. So we are now Live real boy. And our first exchange listing will happen within the next couple days. They’re working. He’s working on. Thank you. I’ll tell you his work in the integration as we speak. So we’re it’s been an interesting process, but I’ll tell you, we’ll talk a little bit later about, you know how we did the the swap, but we spent a lot of time trying to figure that out in a way that was secure that we didn’t control keys. And that was a big thing that I said, I don’t want to be responsible for their keys. But I’ll tell you this. So even now, people that went and swap their OCC for Costco have already lost their tuskys it’s unforgiving. And there’s nothing I can do about it. Like we I mean, we put I mean, when we did the swap, we went through and we created a whole lot of videos and instructions and say copy this, copy this, do not lose this, do not lose this blah, blah, blah, you will lose all your access to friends. And we’ve had several people already come into the group and say they lost their keys.

Darryll DiPietro – Coincierge Club
Well, my heated how many times you download somebody else’s wallet at like a conference and they go download our wallet and you’re like, Okay, okay, okay, okay. Okay, and they want you to backup the keys, you know, you’re really getting like $5 with a Bitcoin from them for downloaded the wallets. You’re like, All right, I’m not gonna use this wallet again. I mean, I can only assume that that happens to some people sometimes, but they’re just so excited, or in just such a rush to get through the process of setting up a wallet that they don’t factor in. I’ll never forget this password. It’s my password that I use for everything, or it’s, you know, in a significant thing for me. And then a week later, you’re like, password.

Rob McNealy
Yeah, it’s bad. And I think this is going to be an impediment to adoption. But I think it’s, it’s something that can be fixed. I think it’s something that can be created or corrected and dealt with. But at this point, it’s scary when even the people that are like the developers in this space are having the same problem, right? I’m like, I mean, can you imagine Grandma, who has a little bit dementia has, you know, a million dollars in crypto which is equivalent, her life savings. And then she, you know, delete off her one letter from her private key hash. And now she can’t access that ever. I mean, this if anybody who thinks that system is going to work for mass adoptions insane, right, it’s just not going to work. Something has to be done there needs to be a recoverability things. And and with our project, and maybe with viewers as well, we’re already looking long term, how we’re going to have to correct that and deal with that issue, because I know it’s an issue. And technologically we need to fix that. And so we’re working on some ideas. I’m not gonna save because I can tell you what our secret sauce is yet, but we got some ideas that we’re going to be working on. It just takes time.

Darryll DiPietro – Coincierge Club
Most of that because it’s interesting to see what you guys come up with. I know you guys have a pretty solid team and what you guys have been able to produce so far, it’s been pretty impressive.

Rob McNealy
So well. Well. Thank you. Um, so the latest news we were talking about this the other day, the crypto media purge. Have you been you know, it is

Darryll DiPietro – Coincierge Club
So Christmas came early for me. You know, we’ve seen a lot of people posting online recently that there’s been a crypto purge, especially on YouTube over the past couple of days. And, you know, I think that we share the same sentiment where it’s, you know, a lot of these guys were pushing projects that were shady sketchy, you know, ponzis, multi level marketing, affiliate links, or blatantly taking endorsement money from projects that shouldn’t have been endorsed and seeing this purge. I know it hurts people. I know, it’s the wrong time of the year. I know we should, you know, want everybody to succeed. But some of these guys, they have zero technical skill, zero technical ability, and they’re making money off of projects that myself and yourself and other people in our positions have worked hard, and sometimes they’re making more money off of promoting the projects that we’re making off of the projects. I saw somebody post something about like, Oh, this is a somebody’s like, Oh, this is freedom of speech. And then someone came back to him which I retweeted very similar thing, which was like that’s not freedom of speech. So third party company, you don’t have the right to freedom of speech on YouTube. And then the guy was like, I beg to differ. And then the guy was like, Oh, why don’t you build your own? You have a problem with censorship on social media platforms, build your own, and I was thinking to myself, because this guy has no technical skills, because he has zero technical ability. And you know, if you do have technical ability, and you’re an influencer, like my friend, Kingsley, and Aaron have built float, and I know you just follow me on float, not to give like some random shout out, but here’s the thing. Just give a shout out. Float is a platform for you. Float is a platform that’s not going to censor you. Flow is also been VC backed by Draper. You’re not Draper University, boost VC, which is Adam Draper’s, you know VC fund, and they built something they’ve come out and said, we’re not just content people. We’re not just native In the space that talk about crypto, we’re going to build a platform and they believe they have over 1000 users on there right now. And I can only imagine that they saw a huge uptick over the last couple of days. But if your sole basis of your channel is to interview people to make money off of that off of paid content, or sponsorships, and you’ve got some, you know, robot logo for your, you know, newest wallet promotion, it’s, it’s time for you to go, it’s time for you to you know, just hold your Bitcoin and go to the conferences and be that person, but you don’t need to keep profiting largely off of our hard work.

Rob McNealy
Well, I think one of the I think the two problems that I see here and having been a project in this space for two years now I’ve run into this a few times, right? And you have to I’m going to bet one, there’s a the guys that are being purged right now, are not just any old I’m a nice, honest to goodness Jerry analyst in crypto world YouTuber, these are guys that are pitching scams. These are guys that have been pitching bit Connect. These are guys that I’m pitching, literally full blown ponzis and not really adding a lot of value. By the way, it’s funny, I don’t even know a lot of these people. It’s kind of funny. They’re not even they’re not even as big as they were before. Like, now it’s like, a lot of the crypto guys these people aren’t even that great anymore. But these guys literally were pitching criminal fraudsters and unrepentantly. When these you know, fraudsters are out there. So I think one, this isn’t some wholesale, you know, attack for YouTube. Again, it’s all crypto. That’s nonsense. And I know lots of people that try to do good content out there that aren’t blantant

Darryll DiPietro – Coincierge Club
Did your YouTube channel get purged or not?

Rob McNealy
Not a single Not a single problem, not even a notification. Not even a notification. I haven’t had any problems with crypto or I’m sorry, my crypto related content. In fact, I put out I uploaded a video today and it’s already, you know, ranking in Google and it’s about got crypto in it so so it’s not just all crypto that somehow it’s it’s the scammers are the least. scam enablers, and I don’t and honestly no folks are given, I don’t really care that these guys that are making money off costing people their life savings on the shit they were recommending. They are part of the problem. And if people are getting all defensive like Oh, poor crypto me, dude, and you’re part of the problem too. If you think that those kind of guys getting pulled out of the ecosystem is a bad thing.

Darryll DiPietro – Coincierge Club
It’s like this man. If you’re a sports reporter, are you really part of the sports team? No, and we need to get more. There needs to be more work and more effort done on the projects to kind of regulate this thing. Like we can’t sit here and say say, oh, we’re gonna let you know, we’ll let this guy post about this, let this guy post about that we got to start calling these projects out. And I know you know that I have a whatever with with Nathan Hawkman. But I’m going to say this right now on this put on this podcast, he posted something brilliant. I don’t know if it was yesterday or the day before, but it literally was what we just said it was no fucks given sorry, but not sorry. Like all these guys that all they’re all they do is go out there and talk about other people’s projects. And it’s not about the code. It’s not about the security. It’s about how much money you’re making and shout out to this sponsor and shout out to that sponsor, and he ripped up and I don’t remember verbatim what it was, but I remember reading it and being like, yep, I agree. I didn’t like it because you know, me and him were we had a bit of a falling out but respect to that post. I just had to say it was spot on and it it was the overall sentiment. I kind of cooled off over those two days of Christmas because I was doing the Christmas thing. But today hit it hard and I was like, You know what, it’s time for It’s time for these guys that are crying about their product of crime on their YouTube channels getting censored or crying about their social media getting censored that has zero technical skills that are literally out there just going to the conferences to party and just going around and doing all these crazy videos about nothing to be purged. It doesn’t help guys like you, it doesn’t help guys like me. We’ve had influencers in our circle for a little while we had some of the bigger names wearing our stuff, it doesn’t help our brand. It actually hurts your brand when somebody is wearing a T shirt and then they’re running around Vegas eating mushrooms on video. It’s not good for your company. And so these are the guys that need to see the purge. I don’t know if you’re are you pulling up that tweet?

Rob McNealy
No, I’m not. I’m just I’m just listening because I couldn’t agree more. I’m to be honest.

Darryll DiPietro – Coincierge Club
Well, I mean, yes, it’s going to pull up that tweet because I think it’s worth being mentioned. What do you What were you? What are your thoughts on all that?

Rob McNealy
My thoughts are that there are still a lot of quote unquote influencers in the space that are in violation of US law and are taking commissions to promote people and they’re not disclosing it. And they’re recommending things and I think personally, I think that’s unethical. And and the federal government, you know, established this years ago Not that I care about the fads and not a bootlicker. But the fact is, not only is it unethical, but because you’re misleading or potentially misleading your your audience by your own moral hazard and conflict of influence, or conflict of interest. With some of these recommendations. You’re not telling people you’re being paid. And to me, I have an issue with that. And because you’re not necessarily you’re going to be biased. You’re not evaluating them based on what you really feel you’re you’re evaluating them and promoting them based on how much they’re paying you and you’re not telling your audience this, and to me, it’s disingenuous, and there’s still people around them are still active influencers that still go to world crypto con and, and everything else and they’re not telling people they’re getting paid. And you know, I’ve run into these and I got my own, you know, I’m not going to sit there and bad mouth people necessarily because they, you know, I don’t necessarily have a dog in that fight. But there’s still a bunch of them out there. And until the crypto world comes to terms that this is bad for the industry, and this is bad for mass adoption. I think it’s still going to hurt us as an industry.

Darryll DiPietro – Coincierge Club
You know, that’s what I liked about elevate. There wasn’t any influencers there. There weren’t any, you know, media boosters, like what two, maybe one? I think there was one that was for the event and then one that was like a crypto PR something like that. But realistically, there was some pretty solid projects. There’s some pretty solid names block watch. I’ve seen it for different conferences in the last two months. And that’s what I like but I’m gonna I’m gonna read this tweet because it deserves to be read. In 15 hours ago, he goes I don’t consume media related to cc so cryptocurrency or blockchain, many of you know that I see influencers as an unnecessary byproduct of the lack of advertising platforms. I couldn’t be happier about the YouTube purge, your accumulated viewership is less than many make up in video applications or makeup application vids. I couldn’t agree more. And I know that there’s hundreds of people that have projects that have literally sat there and go, you want what first for a shout out, you want us to pay you how much and that’s, like I said, part of the major problem in this space is that for us, we we took a status, we’ve taken a very interesting approach to sponsorships. And it’s helped and hurt us along the way. And we haven’t gotten as much traction as we could have. Because we didn’t do one thing that these guys all want us to do. And that’s paying us dollars. They all want US dollars. They’re crypto influencers who want to get paid in something that they can liquidate to US dollars or get paid directly in US dollars. And we don’t do that we only pay and our coin from the reserve of the profits that we’ve made off of transactions and You don’t want to do that, then that’s fine. We just don’t work with you. But you know, world crypto con did. We paid him 50 K to speak at their event, Brock Pierce and Justin Wu and Jeremy Gardner did. And that’s how we were able to secure our speaking spot at the NASDAQ, I think was like 25,000 or 30,000 that we paid them. But we paid him in Queens Sierra Club coin. And what does that do? That gets our small little brand exposure on a major stage, it gets our circulation of our coins into the hands of people that are influential. And it gives them a little bit of knowledge about a product that they might not have had any interest in but now their token holders and I can say the spillover from that is I’d be I’d become you know, closer or friends I acquaintances or however you want to put it with Justin. We’ve seen each other at multiple events. we’ve hung out at multiple events. He’s done a panel for us pro bono, and it’s because he sees the hard work and he has a connection to the project and if more people that want to take sponsorship money, or want to take you payment for services started working with projects for their own native currency. And that would actually help the industry. But it’s when you say no, it has to be Can I liquidate that what we your coffers? Well, I remember one conferences like, Oh, I can’t liquidate it. We don’t have room for you. But you were a last minute call for sponsors, meaning you already secured your location, you’ve already paid your people, you, you’ve read paper, I mean, everything’s been paid for it. So week before the conference, why do you need more money from us? That’s liquid. And that’s the problem that I have. And that’s one of the things we stood by.

Rob McNealy
Well, that’s one of the same things with exchanges too. And the more established, you know, more legit exchanges don’t even have a listing fee, because they’re picky about who they have coming on their platform. And they they only allow products on the platform that they believe they will be able to have enough of a community to actually make money on the transactions on their trading on their platform. Most exchanges out there have listing fees and they don’t even take listing fees in your own native token. Virtually either. And those exchanges are also the ones that tend to be the ones that are faking their volume. And it’s because their actual marketing or that sorry, their actual revenue model isn’t transaction fees on their trading because they’re trading volumes fake. It’s the listing fees from the actual projects. And since they themselves don’t even give a crap about your project or have any faith in it, they only want you know, Bitcoin cash or a theorem. And so that’s the that’s kind of the problem you have with, you know, being a project as well. And you know, this as well as I do is that you’re having to deal with this is like, Okay, how do I establish a market value? And how do I get a more legitimate exchange to look at me and take a seriously, and I think that’s a tough one. And, you know, I think you guys are figuring it out. And I think we have a good plan to figure that out as well. But a lot of people out there don’t know that that’s what’s happening. Right? They think, Oh, this this exchange has this big number. It’s tracked by coin market cap and coin Gecko, so they must be a legit exchange and this coins on their exchange and has all this volume. So it must be a legit project. And unfortunately, a lot of that’s all bad. It’s all nonsense. It’s all fraud. And so the end users, the investors out there are the people that are interested in the project. They don’t know how to make good decisions, because they don’t have good information. And then you have all these pimps, I call them pimps, right? You got these crypto pimps out there, going out and pushing these projects. And it’s all fraud. The whole chain is fraud. And that’s why I give a hat off to, you know, Google or YouTube, however you want to look at the hierarchy.

Darryll DiPietro – Coincierge Club
You know, I don’t know if you know this, or maybe you do, I used to take phone calls for the Google Play Store. And I worked on Google operations for the Playstore third party applications and all of the verticals. And so people will call in from all over the place. It will call in from different countries they would call in and I think what We’re seeing right now is people are realizing that, yes, YouTube and Google are US based companies. But these companies follow the law of multiple, multiple nations, there’s a multinational company. And so you have to really kind of realize you’re dealing on a bigger scale than what we know here in the United States, which is, you know, quote, unquote, these quotes because the land of the free, but as we find out more information, how free Are we really and that’s a whole nother conversation. But you know, people need to realize that you’re playing ball with something that isn’t in your backyard. And or it’s like you’re playing chess with somebody via, you know, male, whereas you’re dealing with other rules, other regulations, other cultures, and your videos are viewable in those countries, and they have to be able to follow those guidelines. And you know, one of the biggest things to think of is Where are all the Samsung phones made, are made in, you know, Google is the big Google puts their software and Samsung phones. So if They want to make sure that the manufacturing stays low and on the pixels and and all the other devices on the Android system, of course, they’re going to follow laws that are more relevant to that if we opened up the largest Android manufacturing plant in the world in the United States, then we might see a trend might see a difference. But yeah, it’s it’s interesting, man. These guys are just just sitting back here with my popcorn like, okay, maybe you should have skill.

Rob McNealy
And you know, if it was a complete ban on the word crypto and blockchain Yeah, I can understand that. I mean, and you know, this like, what the focus of our product task is, you know, the, the lawful firearms industry is kind of, you know, our main market that we’re working in, and they’re not allowed to advertise on Twitter, Facebook or Google. Already you and they’ve been completely de platforming and be monetizing the gun industry for over the last year and a half, two years now. And these companies don’t even have the ability to To market other than

Darryll DiPietro – Coincierge Club
NRA is like a dirty word in the United States.

Rob McNealy
Oh, absolutely. Yeah. Especially, you know, in Silicon Valley, and it’s interesting. Instagram just announced in the last week and a half that they’re going to like banned gun influencers off Instagram. And what’s happening there is that because the gun industry didn’t have any they really are locked out of like pay per click and things like that. They’re just not allowed to market that way. What they were doing is they were paying social media influencers to then promote their projects. And now Instagram is going to cut that off. So now the crypto people are like getting all pissy but the fact is, there’s other industries not only just conservatives but the gun industry and some other industries, the cannabis industry, they’ve been completely locked out of these you know, different.

Darryll DiPietro – Coincierge Club
You know, when they did the Facebook blanket ban, it wasn’t actually a blanket ban. We are approved. We have been approved for the last year. half, almost instantly after they made the marks we submitted, we had approved, we had to take a line of code, we had to put it in the header of our website. We have been able to advertise and Chris star, you know, some of them get flagged, but not all of them. We’ve been able to advertise on that platform since. And my business partner, Chris is the one that handles all that. But, you know, it’s interesting, because even when Facebook said no more crypto advertising, if you did the right thing, if you had a legitimate project, if you were able to answer their questions when they asked you, how do you deal with this? How do you deal with that? Then they go, Okay, here you go. Take this line of code, put it in your header, once you do that, come back to our platform, hit a button, if that can ping back and forth. And it’s legitimate. You get the green light, and then you can advertise again on the platform.

Rob McNealy
Yeah, we’re still waiting for our approvals for our conference. from Facebook. We never got it. Conference even though I mean, because it’s because it’s partially crypto, they wouldn’t let us advertise the conference on Facebook. And yeah, So I mean, it’s it’s goofy. I mean, you know how it is. It’s just playing goofy out there.

Darryll DiPietro – Coincierge Club
Well, yeah, I got booted, we got booted off MailChimp, for that exact reason. We had like an 800 person mailing list, we had sent out a happy Thanksgiving outfit, we started to do a collection form, and all of a sudden, it’s like, you are dealing with content that’s not allowed. And then I looked at their CEOs. And their CEOs had like nine things that they didn’t allow. But then at the bottom, there was an asterisk that said any crypto related products, like it wasn’t even part of the list of things like you can’t promote. It was just an add on to their to us.

Rob McNealy
It dropped I have my own issues with the politics out of Silicon Valley and the tech industry.

Darryll DiPietro – Coincierge Club
You said actually hold on. You said that a second ago and I want to kind of touch on this really quick. I just want to make a point as liberal and anti gun. And you know, socialist as California is. Just remember, Silicon Valley. Those guys are capitalist. Those guys are for capital. ism, those guys want money. And so if it makes money, it makes sense in Silicon Valley. And so it’s an anomaly out there because yes, you’ve got snowflake them all up and down the coast. And I’ve been, you know, in the California lifestyle since 2003, you know, on and off and living out there and then traveling back and forth. But then when you start to talk to some of these fund managers, these guys got guns. These guys have branches, these guys have, you know, Jackson Hole retreats, and then if you think about that, that’s another one that’s right near you, you know, and that’s right up there and in gun country. So just, you know, Silicon Valley is part of the bigger part of California, but the people that are investing in these projects, you know, Peter teal, a, you know, big time Trump supporter, you know, so you’ve got these guys that are out there that are labeled one way, but realistically, when you get into the nuts and bolts of it are the complete opposite. And that’s, well no, you know, you know, think about I know somebody that runs an accelerator in Santa Clara and you would think again, liberal socialist. Nope. Got a pot farm with us just on the other side of the valley in Santa Cruz.

Rob McNealy
Nice. Yeah.

Darryll DiPietro – Coincierge Club
That’s that’s venture capitalism right there.

Rob McNealy
Well, people like to make money and definitely, money just definitely makes the people change their politics and their values probably faster than anything else next to alcohol. So, Darryl, this has been really quick. It seems like you and I can jabber on hours and hours and hours. And I can’t wait to talk with you more about wonton soup. Next time we get together. Where can people find out more?

Darryll DiPietro – Coincierge Club
Yeah, so right now, you can go onto Twitter. I’m at Daryl D. We’re really helping out float. So if you want to go to float, backslash Darryl Darryll D. What we did if you have a project or you’re a VC and you want to get deal flow, join our pay channel $5 a month. We’ve already got three or four projects that have launched on there. We’re doing a fun thing where, you know, my being so into the VC world, I’m giving you the Twitter channels to follow. I’m giving you the people that you want to follow. I’m bringing in the right VCs for deal flow. We’ve got, you know, sports analytics companies, and we’ve got fake news aggregator companies, and we’ve got stuff that’s important. That needs to be spotlit in there. And so we’re really focusing on that also quite serious club on YouTube, for any of our up to date pitches. You can see us on This Week in Startups. with Jason Calacanis on there, we’ve done probably probably about 40 videos on there, not a single one that got flagged. But yeah, that’s you know that Daryl D on Twitter, flowed at their LD. Or you can find me on Facebook at Facebook.com/Darryll.LasVegas. Coincierge.Club, website, all that stuff, all that fun stuff. I’m sure you’ll drop a bunch of links in the bottom on post.

Rob McNealy
Yeah, all those links will be up at Rob McNealy calm when we post this and Darryll, thank you so much for coming out today. I do appreciate Your time and we’ll talk to you soon.

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