SPEAKER_00: okay today on the program we have amy yang she's from a company a startup called better brand they are making low carb versions of high carb foods that we all love the first one the bagel i saw this trending on twitter i ordered some of the bagels and i was like wow these bagels aren't bad now listen i'm a bagel snob they're not brooklyn bagels yet and we have a big debate about what percentage is she to a brooklyn bagel i well you'll find out in the episode where i put it on a

SPEAKER_02: very specific i might have hurt her feelings a little bit i'll be torn down because i kind of felt bad during the interview she thought i gave it a low rating i thought it was being very generous compared to a brooklyn bagel but anyway first up we're going to talk about a financial times story

Chamath Palihapitiya: that estimates facebook twitter snapchat and youtube will lose about 10 billion dollars in revenue uh in half of 2021 due to apple's new privacy changes it's a very big deal it's a very intricate

SPEAKER_04: story and of course we're going to talk about meetups because it's meetup monday stick with us

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Chamath Palihapitiya: in our first story today apple's privacy features that you've heard about from their ios 14.5 update are costing according to a third-party service facebook twitter youtube and snapchat about 10 billion in combined lost revenue in the second half of 2021 this is a story from the financial times if you don't remember apple introduced app tracking transparency back in april as part of their ios 14.5 update i covered that in episode 1204 if you want to go deep basically iphone users are opting out of being tracked this means it's difficult to target advertising from the big advertising networks the big two where you know the majority of advertising occurs on the internet are obviously facebook and google youtube twitter and snapchat are you know minor players in this huge advertising machine that is the internet but apple has stopped their ability to target specific phones and track you and retarget you and all that good stuff that advertisers love and so when users opt out of being tracked it basically makes the cost go up because you're going to need more impressions and you're going to have a lower click-through rate so the way advertising works on the internet you will pay in typically for each click that happens and a click for an app usually a dollar or two dollars in some cases ten dollars twenty dollars for certain groups of users now who in their right mind is going to pay a dollar per click or five dollars per click well if it's a video game that has some kind of upselling in it or coins or mono whatever it is you know and they have whales in the system who are spending a hundred dollars on coins a month that means if they spend a dollar per person to click and they get out of a hundred people 50 downloads the cost per click is a dollar the cost per download is two dollars and then if one out of 50 people spends more than a hundred dollars they're in the black in other words they're profitable and so this science me is why you see certain types of apps constantly being advertised to you on facebook and other services twitter and it's typically games

SPEAKER_02: that are the ones that are really aggressive about trying to get you to pay to get to the next level

Chamath Palihapitiya: so all of this comes from an ad tech company i've never heard of called low to me l-o-t-a-m-e and they note that advertisers are responding by cutting spending so we knew this would happen this would be a big tailwind for apple and their ad network because apple does sell ads to promote apps it would be a headwind against these large ad networks and if you know more about the person you can present ads to people who are more likely to click what does this mean there's a certain amount of ad inventory on let's say youtube or a certain amount of ad inventory on facebook and instagram if you get one out of 10 people to click on an ad today and then tomorrow you get one out of 100 that means the ad network is 10 times less efficient in other words you're using up more of the impressions people seeing the ad to get the same number of clicks but if you know that your app works really well with a certain demographic women who are 35 years old who are using their who have these other apps on their phone who have visited these websites you get the idea or this type of phone it might be that people who have older phones really like these bejeweled games it might be people with the newer phones might really like the first person shooters who knows the algorithm is actually trying to make sense of all this and that's where all the gains in advertising and the money printing ad networks are getting their gains from that's why google bought you know the big ai company uh deep mind back in the day it wasn't that they wanted to win at chess or go those are just you know shiny little pr stunts what they really wanted to do was make the ad network smarter and give you better ads target them better so the same amount of inventory would make more money that's known as efficiency right and that's why the money printing machines of google and facebook have done so well apple has decided we're going to uh stop letting people target therefore the efficiency goes down and um according to low to me uh they estimated that facebook twitter youtube and snapchat quote lost 12 of revenue in the third fourth quarters or 9.85 billion i'm not sure how they get to that financial times notes that may be conservative they also know google is not as impacted which is interesting now why is google not impacted pretty obvious if you think about it google you type a word in a box and the word is typically what you're looking for right you don't search for something you're not looking for type in volvo you're not looking for chocolate chip cookies and if you're typing chocolate chip cookie recipes you're probably not looking for a volvo facebook and youtube create a psychographic profile of you based on your behavior google has that as well but they know the keywords you put in if you type in first person shooter or angry birds or bejeweled we kind of know that these games that are like bejeweled we'll show you more of those right pretty simple and that's why google is going to not be as impacted by this youtube will be but not google uh so here's a chart for those of you taking a look at the youtube channel our youtube is youtube.com slash this week in and uh if you go there hit subscribe and then hit the little bell which is the notification bell and you'll be part of the nodi gang notification gang and you'll see when i go live i tape the show live every day and a couple hundred people watch it live so if you want to watch this week in startups live go to youtube.com slash this begin click not just subscribe but click the bell

SPEAKER_02: next to it you'll get a notification once a day when i go live uh which is kind of cool so you can just see it here facebook was the one that got murdered the most and this is why facebook uh is spending so

Chamath Palihapitiya: much money on meta they know that the next compute platform apple is betting on is ar that's why facebook is now absolutely trying to beat apple at ar and vr that is the big battle we'll see in the next five years compute went from being your desktop then it went to laptops then it went to phones and tablets next up social media became a big platform the internet before that what's the next one most people

SPEAKER_02: believe it's vr and ar i'm not going to call it the metaverse it's kind of corny it's just going to be augmented reality is the big one for me i think vr it's a bit of a head fake but yeah 8 billion

Chamath Palihapitiya: lost by facebook because facebook you don't type in a keyword facebook needs to spy on you and get all that data that's why facebook uh is um so good at targeting and became so great and in the beginning we all thought facebook wasn't going to work for advertising because algorithms weren't sophisticated ai wasn't sophisticated 10 plus years ago when facebook came out so the ads on facebook used to be really annoying and then slowly as they knew your circle group they could say hey people in your circle are clicking on volvo ads maybe we'll show you a volvo ad and see what happens maybe your group is just everybody's got volvo that's why some people think that like devices are listening to us you ever have this experience a bunch of your friends were like we were talking about you know uh volvos and you know my friends are a volvo on their instagram the next day and so we know that it was listening to our phones no what happened was your phones were all in the same geography your phones and your accounts were all friends with each other and you comment on each other's content then out of your friend group of the top 100 people seven of you were talking about the volvo and you searched for it or maybe there was a discussion thread about it the other 93 may have been shown the volvo ad when the ai was testing if these seven people in this tight network of friends of friends uh and you know maybe one degree or two degrees wow when we showed volvo ads another 40 of people okay so maybe you live in the northeast maybe volvos are you know the hot new thing you get the idea so this makes you think that it's listening to you when in fact it's watching your behavior online and there is obviously an overlap between the real world and uh the digital world

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Chamath Palihapitiya: most uh relative revenue due to their focus on smartphones again facebook has a lot of desktop google has a lot of desktop kind of sucks for snapchat and so a lot of these companies are just going to have their valuations uh compressed a little bit until they figure this out some people might have so much traffic like facebook that they can just solve for this by showing more ads to people and that of course ruins the consumer experience a little bit uh but according to the financial times article twitter ads quote rely more on context and branding than on tracking consumers mobile habits so twitter's ad sales rose 41 last quarter uh so they don't seem to be as impacted by this that directionally makes sense when they say they rely more on context and branding than on tracking consumers mobile habits you ever see that when you load twitter uh whatever the big movie is that weekend whatever the big tv show on streaming is so dune or you know the latest marvel movie will be there that's because twitter is such a part of the zeitgeist that all of those people who are trying to be part of the discussion tv shows movies gadgets they will buy out the entire run of the site they want everybody in america talking about the latest netflix show or talking about dune

SPEAKER_02: or talking about whatever streaming service it is so that makes a lot of sense to me uh when tim

Chamath Palihapitiya: cook was asked about this by analysts last thursday he said we believe strongly that privacy is a basic human right and so that's our motivation there there's no other motivation so people are saying apple is doing this to grow their own ad business and that's hypocrisy that's just an added benefit i don't think i actually believe tim cook when he says that i uh my understanding is and i haven't seen this uh i don't know if any of you have if you're in the chat room right now tell me if you have seen ads when you're in the app store but i haven't seen ads in the app store i don't know why but has anybody seen them i haven't seen them in the in google in apple's app store uh so is apple's uh focus on privacy bad faith no it's a feature if you look at vpns duck duck go uh all the different privacy related browsers out there vpns and other software people using email relays consumers actually care now consumers are starting to care and it went from being a very niche thing to care to being something that uh now a broader group of people want their privacy back and apple is brilliant for doing this if facebook really wants to get ahead of this i've been saying this for a decade when you load facebook or instagram it should say would you like to opt out of tracking and have no ads in your feed for 9.95 a month across the suite of apple products we will not track any your data we'll delete all of your profile data that we have in secret and you will see no ads i wonder how many people would pay for that five percent of users i know i would i want to get ads out of my life uh you know where i can if they're disruptive ads and so you know i pay for nba league pass there was an extra option for 20 bucks to take out ads and watch the feed in the arena i pay for that i like to watch them shoot cannons with t-shirts into the arena at msg makes me feel like i'm there kind of a cool feature uh so really great job on apple's part to execute on this and uh yeah i really don't care if uh you know facebook can't target as well people on on their devices have the right to do what they want if you want to use the brave browser or duck duck goes browser or ad blocker or cookie tracker blocker that's your right what you do on your device is your right and if those services don't like it they should just offer a paid version and charge for the top features and give people an option and that's really what this is about if you want to avoid being

SPEAKER_30: regulated give people options and be honest with them and communicate it simply that's what apple does fantastically that's what facebook does horribly okay let's get to my interview with amy yang of

SPEAKER_00: better brands making that protein-based bagel she is going to solve for less carbs all right for years i've been saying make a better bagel make me better pizza why can't we have pizza or burgers or bagels

SPEAKER_34: that help you lose weight this would be an amazing thing for an entrepreneur to take on

SPEAKER_00: because think about how much it sucks to be fat well you don't have to worry about that because i've thought about it man i was tipping the scales at over 200 now i'm down to a svelte 182. it's better to be thinner than to be fat sorry trigger warning it's healthier to not be obese i know we're not allowed to talk about this anymore but uh how did i do it well i just ate less food and a lot less carbs and carbs taste delicious and our bodies love carbs well i was on the interwebs and i saw one of my friends had tweeted about a better bagel and i was like oh there it is some entrepreneur is making a bagel that is uh you know less bad for you i'm from brooklyn bagels are part of the four food groups along with pizza and cannolis uh and so i actually ordered these bagels and they were pretty good so i said to my production team producers get me the founder well the founder is here uh the name of the company is better brand and you can find them at eatbetter.com or you can follow them on twitter eat better brand and in her first appearance here on this week in startups amy yang welcome to the program

SPEAKER_37: thanks so much for having me i'm so um excited to be here and and what an amazing you know personal

SPEAKER_38: anecdote and intro and you know exactly why we created better right to solve that pain point that i think is so personal to to so many people across the board being fat is bad for you we can

SPEAKER_43: all agree on that right well it's bad for your health well i i mean i i wouldn't necessarily say

SPEAKER_37: that i think you know obesity you know certainly there are like numerous negative health implications associated with that and diabetes pain suffering diabetes but you know but i think it's more

SPEAKER_38: about that mindset of a freedom right and not having to worry about what you eat and and how that's going

SPEAKER_37: to affect your weight gain or weight loss and you know kind of breeding that world like you were saying

SPEAKER_38: you were you know imagining and dreamed of for so many years of you know being able to eat all the foods that you crave and not have to worry about weight gain or negative health consequences so let's talk

SPEAKER_50: about your first uh product you made a bagel how did you come to the conclusion that you wanted to make

SPEAKER_37: a bagel um yeah well so you know i i guess kind of taking a step back and talking about better brand as

SPEAKER_38: a whole um we're really looking to put our stake in the ground as leading innovators in the refined carb space right and and you know a way to think about that is beyond meat of carbs right and it's so pretty good framing well it's interesting also you know refined carbs industry

SPEAKER_37: is 10 trillion dollar industry right and you look at all the innovation that's happening and plant-based at around you know 1.4 trillion so it was just this huge open space that you know i was just shocked that no one has come in and and and doing this so so you know in putting our

SPEAKER_38: same ground as leading innovators in the refined carb space what better way to do that than by taking the most carb heavy food and reducing it to the carb equivalent of let's say two banana slices

SPEAKER_59: so the carbs in a typical bagel about 50 grams of wow yes and we've gotten it down to five

SPEAKER_02: okay so uh how do you do that what is the uh secret sauce yeah i'm looking here 48 grams in a typical bagel it makes total sense you get it down to five is it just a matter of putting protein powder in it are you using some different type of flour almond flour oh my gosh i've seen all these different

SPEAKER_38: concepts uh but what is the secret sauce going on here yeah um there's a lot that goes into it and it's so funny so fast company recently released an article and the title is can food tech invent a better bagel and that's kind of you know what we did right um and so you know in in terms of like the how um oh my gosh so one is proprietary formulation you know really novel ingredients that we've sourced

SPEAKER_37: we've worked with we understood and so for example if you look at our ingredient deck the first ingredient is you know modified wheat starch so what that is is it's a wheat but it's not um actually digestible

SPEAKER_38: in your gastrointestinal tract so right so it doesn't provide that carb content but what it allows for is that same viscoelasticity of a typical wheat that gets you that same chew and that texture and so you

SPEAKER_37: know that's kind of an example of of just the normal formulation that we've put together um you know

SPEAKER_60: very this is a different type of wheat or what what is it called wheat what modified wheat starch so

SPEAKER_37: it's you know you take it's you know non-gmo right and it's just it's processed in a way to where

SPEAKER_38: the fibrous content of the wheat is retained but it still allows for you know the texture and and it to provide you know the elastic properties of the wheat you would expect from a bagel just without the carb content and then you yeah and then so you know that applied to so many ingredients across the board that we worked with and formulated and then um you know the second part of that is our proprietary process in terms of development and working with the dough so if you took this dough and you brought it to anywhere um no one would know what to do with it you know if you tried to make it the same way and so so everything was kind of custom designed from from inception to work with this specific product profile and then third um i'm not sure how much i'm supposed to say about this but we really lean into you know enzyme technology um and the biological catalysts right that are extracted from plants but they help us you know um and it's i always think this is so funny because you use small such a small amount of it that it's the last thing on your ingredient deck um obviously completely natural but without it the product would be completely different um so you know it helps us with texture

SPEAKER_37: taste uh you know flavor taste chew there's so many parts that go into it but you know that's kind of the

SPEAKER_18: how got it and there's potato starch in it i see here chicory root fiber extra virgin olive oil yeast organic brown rice flour organic white vinegar sea salt and enzymes so yeah seems pretty straightforward

SPEAKER_17: very yeah 3.75 a bagel when you buy a 12 pack so four bucks if you buy less uh compared to 50 cents a

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SPEAKER_17: a 15 discount for the first four weeks of work with that amazing developer well done lemon okay check it out everybody lemon.io twist so how do you get this cost way down yeah you know it's more accessible

Chamath Palihapitiya: because let's face it like some family's not going in and spending 50 bucks on a 12 pack of bagels

SPEAKER_37: i know and see and and that's one thing i really kind of hate about the the market and and you know it's really kind of programmed us in a way to think that you know a bagel should be you know x amount

SPEAKER_38: right but but if you think about it like there's so much cost that goes into producing a premium product that's good for us right and that r d and there's a reason why these kind of large conglomerate companies aren't making that investment right they're trying to push out product and and you just don't want to incur that cost up front and you know i think what we're well not i think what we are doing is we're saying like you know like this is important like human health is important you know like we want the consumer to understand that you know novel technology and natural ingredients and and you know putting things that are good for you in your body like that you know it's it's expensive and it's more expensive a lot of times than the market dictates because the market offers a lot of stuff that's

SPEAKER_87: terrible for you and going to cause yeah and the good news is you know you have the same thing

Chamath Palihapitiya: happened with beyond meat they had burgers and the burgers were sixteen dollars eighteen dollars and you could go to in and out burger for four bucks and get a great burger and i passed on investing on that it was a stupid decision because i just thought nobody's gonna nobody's gonna pay four times as much

SPEAKER_34: for a burger that doesn't taste as good and it turns out there were a large number of people who would pay three four five times as much to get something that was healthier and better for the environment

Chamath Palihapitiya: yeah but they've since i think as they got to scale have lowered it are you able to even turn a profit

SPEAKER_00: we're not four bucks you're not going to be able to be profitable at four dollars a bagel we're not

SPEAKER_38: profitable right now and so i just you know definitely want to make that clear is we're we're not profitable um but what we want to do is get this product in front of the consumer take the consumer on the journey with us and you know really get real-time feedback and and that's the only way that people can can start benefiting from the product right so it's it really is interesting like we get a lot of feedback that you know is that question of like oh why is this product so expensive like you guys must be like profiting so much from this like how about making it more accessible we're not right like the fact of the matter is we're we're early stage we're we're not profitable um but you know

SPEAKER_37: we're so excited about this because we think it's going to be a game changer for so many people and provide that element of freedom um that you know we've never really gotten before or you know and

SPEAKER_64: that's never been possible before we had the magic spoon team on gabby episode uh 12 20 and

SPEAKER_17: he told me they spent a year uh doing the r d for their cereal i'm curious how long did it take you to

SPEAKER_38: develop the bagel oh gosh well if you so i started kind of the r d process on my own in terms of understanding the technology what was happening in the market etc and just like doing my due diligence in my second year of business school so if you count that you well over a year but if you count from

SPEAKER_37: you know when we actually closed our first round of funding and started engaging with you know the the labs that that we worked with and it was a four-month push from that to launch

SPEAKER_38: four months from uh launch and so which was a crazy crazy time yeah it was it was fast and it was crazy

SPEAKER_37: and you know i i honestly think that a huge part of why we were able to do that is is because of luck um you know and and you hear about the the impossible story you know pat brown who's you know obviously such an inspiring person um you know their first hypothesis of how they were going to to extract

SPEAKER_38: the heme for for example to replicate that bleed of you know a traditional burger it took them nine million dollars right and in a year to realize that their hypothesis was wrong and that they had to start from scratch so i think we just we got so so lucky in in just being able to get that right the first time and you know i really think it's one in a million and you know so grateful for that because it allowed us to get into the market right it allowed us to put this in front of the consumer it allowed us to start putting our stake in the ground as you know the beyond meat of carbs um and you know allowed

Chamath Palihapitiya: us to start making impact and feeling that and are there competitors from the the giant cpg companies

SPEAKER_00: yet are they even looking at this the kellogg's the pillsbury's all these giant brands they're not

SPEAKER_98: even thinking about this yet you know what no what's interesting is we've gotten a lot of inquiries from

SPEAKER_38: their investment arms and their venture arms um trying to play a part in this early on but you know in terms of r d it's just the focus on um the focus really just isn't on innovation right for these kind

SPEAKER_37: of existing large conglomerates oh it's it's mostly on existing product proliferation and and you know additional development on those existing product profiles so you know again that kind of opened up

SPEAKER_38: this huge white space for us to be able to step in and really you know after feeling you know that that very personal pain point of you know why can't i just eat what i want without guilt and feeling bad about it um you know really opens up that white space for us what's what are net carbs i know that a lot of

Chamath Palihapitiya: these packaging uh instead of saying carbs they say net carbs i think you say net carbs how does net carbs work and uh is that like a little bit of funny business going on there with the actual carb counts

SPEAKER_38: definitely not funny business uh it's it's it's just about how your body processes the carbs so so for example on our on our label we say you know we're 32 total carbs but 27 of that 32 is fiber got it um and so fiber isn't absorbed by your body so the actual carb content that's absorbed is you know the five grams remaining so so even though you're eating this product that you know tastes

SPEAKER_37: so carb heavy you're not actually you know incurring that blood sugar spike that's you know related to you know large refined carb consumption you're not you know um getting the the carb content from it

Chamath Palihapitiya: i feel like you're 50 being a bagel snob uh my my assessment as a kid from brooklyn of where you're at is about halfway there in terms of the flavor the texture where do you assess you're at in terms of if you were to put a bagel in front of somebody from you know h h bagel or whoever whatever bagel you like in new york you know a nice buttered bagel toasted whatever lox cream cheese and your bagel where do you feel you are on that journey of like sort of competing against you know the the most

SPEAKER_34: legit brooklyn bagel new york bagel oh gosh you gave us 50 i think 50 yeah i think you're halfway

SPEAKER_00: there it's the mouthfeel is a little chewy um but in a different way than a bagel flavors a little bit off but when i toasted it i'll give you this when i toasted it with butter i think it got to like maybe 60 percent of like what of my joy in eating a bagel which by the way that to me was phenomenal my expectation was because i've had some funky stuff and you know i've had all the mock meats and you know if you put up the steak that i get if i'm getting you know kobe beef or a wagyu or a you know great ribeye i would say like the burgers and the steak are probably 25 as satisfying

SPEAKER_34: so i felt like 50 60 was pretty great uh for a first iteration so where do you assess you're at and then how do you think about closing that gap uh or maybe you don't even feel there's a gap but

SPEAKER_121: there for me there's definitely a gap yeah yeah um i did hurt your feelings i'm sorry no no no no

SPEAKER_122: not at all this is well what if you also thought about you know when you eat a bagel a traditional

SPEAKER_37: bagel you know there's that element of guilt that's associated with it right you're kind of thinking like well like should i be eating this versus a better bagel i wonder what your you know

SPEAKER_125: experience was like were you excited were you filled with joy were you relieved did you feel

SPEAKER_77: freedom um i definitely i came into it like an experimenter and a bagel snob if i'm being totally

Chamath Palihapitiya: honest but that being said i did uh in conversations with my spouse say this is pretty great you can have a bagel and be a little guilt-free so yeah i can see getting a 20 bump in

SPEAKER_131: the joy factor of like there you go you just bumped us up to 80. yeah 70 80 um sure but just

Chamath Palihapitiya: in terms of flavor profile are you studying what people experience when they bite into an actual real bagel versus this new formula creating and then how do you how does one judge that like do you bring people in and do a lab where you test it and you give them a blind taste test do you have like five different versions of your bagel and you have them rate them how do you refine a formula sort of

SPEAKER_37: what i'm getting at when you're doing something so new yeah um so i mean i i think i would agree with you i think we're about 70 percent there but you know i think people are really excited about the product and because of you know still like given the the health content and um the the product profile

SPEAKER_38: there's really nothing like it in in the market um and in terms of how we're iterating and how we're getting that feedback is we're getting it directly from the consumers and that's exactly why we wanted to get a product out there as soon as possible right because and and one that people we knew that people were going to be excited about but we wanted to know like what were the pain

SPEAKER_37: points like what do people want improved and and that's how you know you run an efficient company

Chamath Palihapitiya: right what are you uh what is the feedback people are giving you are the things that you're narrowing in on and triangulating it on what are you refining what will 2.0 be like um 2.0 will be a little less

SPEAKER_37: chewy okay there's definitely a chew issue yeah yeah it'll be um it'll still toast really really well and what we focused on initially was was that chewiness because a lot of people said you know it's just it does taste a little bit more chewy than a traditional bagel but um you know the overarching feedback we've gotten from people is just like excitement and this like emotional

SPEAKER_38: response that's almost illogical and just it's so special right we've had people kind of send us like hundreds and hundreds of messages saying um wow like i'm a believer like i'm so excited about this um this really changed my life i never thought this was possible you know we've had people say you know i've struggled with eating disorders my entire life and and having something like this is is is such a game changer for me and then think about how you know special and how powerful that is you know we've had people say you know you know i've had type 2 diabetes and i've never been a i haven't been able to eat products like this and now that you have you've made this possible it's so

SPEAKER_02: so special yeah so for those folks yeah if you're you can't have any bagel a bagel that's 50 60 70 80

Chamath Palihapitiya: percent is like that's amazing it's a godsend i i know when i had george zachary on the famous uh og uh venture capitalist from charles river he had a company wild thing uh that does cell based salmon

SPEAKER_00: and they spent like a year just on the snap of the bite you know that mouthfeel um wild type i think is

SPEAKER_20: the name of the company actually okay everybody let's take a moment to talk about growth marketing and all the tactics and hacks that are out there with me today jake badsguard he is the ceo and founder of disruptive advertising which you can visit at disruptive advertising.com twist so some questions for you jake when is too early to start marketing your cyber monday uh or your black friday what's the

SPEAKER_143: right time to engage people and how do you engage them yeah you know that's going to depend on the

SPEAKER_144: audience but the the cheapest customer is the person that's already bought from you before and it's time today to start warming up the audience that bought from you last year with custom audiences on social or email it's time to get on top of those right now and getting them warm and ready to engage as far as new audiences are concerned there's a lot of opportunity to explore new platforms outside of the traditional google facebook channels like instagram tick tock some of these other ones linkedin youtube let's get some new audiences in place and test those out and find what's working so that we're ready to scale when game time comes all right that's great advice so if you

SPEAKER_20: want to sign up for a free digital marketing audit with jake and his company disruptive advertising just visit disruptive advertising.com twist and if you go into business with disruptive you will receive a

SPEAKER_147: 250 gift card and a free friday to sunday ski trip in utah we'll see you on the slopes it's gonna be a

SPEAKER_37: great season it's so interesting i think you know with any company that's innovating and pushing new products and innovation into the market i think you typically see two approaches right like one is and and this is also kind of like the impossible versus the beyond like one is you know you're in a lab for you know a large amount of time until you're like oh like is this product you know what about this and what about that and you're doing your internal testing but then the consumer doesn't necessarily get to benefit from it right and you don't get to learn and and you know you don't know how as a founder if you can actually operate a business and excite that same amount of excitement the consumer that you know you you really aim to do um and then there's a second where you know you

SPEAKER_38: get your mvp and you put it in the market as early as you can you know and and i firmly believe that if you're a founder and you believe in your product that's what you should do because one you know you get you get in front of consumers and you get to start making that impact which which i would think you know is the reason why most founders start companies right and and the consumer starts to to to be able to benefit from that two you know you get those data points that are so real so you're not just guessing and then you get to iterate really quickly get it out and and get that real time feedback and i think it's just a special experience for the consumer too to see like wait yeah like this is where you're at and you know here was my feedback and now 2.0 is this and

SPEAKER_37: you know and again it's all about kind of that emotional connection um that that i think it's just

SPEAKER_49: we get so much of and and it's it's really about the shapes of the bagels i noticed they were

Chamath Palihapitiya: kind of not perfectly shaped like a new york bagel they were kind of twisted a little bit a little hard for me to slice is there something in the baking process with that that you're working on they're

SPEAKER_155: round now oh they're round now yes ah okay so i must have gotten the point one uh version so now

SPEAKER_156: they're round yeah yeah barely really i mean i ordered it the first day so i tweeted about i was like i

SPEAKER_59: gotta try this thing yeah it's very interesting what made that possible is enzymes ah yeah um and and

SPEAKER_37: you know and that kind of goes to show like we were trying everything like getting that shape um and even with all the knowledge we had on the ingredient profile um it was so difficult to get and then we were doing so much testing in the back end to try to get us there and then the the day we

Chamath Palihapitiya: kind of practiced it was um it's like a very very joyous day beyond meat had like a really i think it was beyond me reported they spent a lot of time on like the juices and the blood that would come out of a hamburger like when you squeeze it yeah juices and that oiliness come out and i think for a bagel yeah that that chewiness mouth flavor and the shape that all is going to come in did you do flavors yet

SPEAKER_37: because i just ordered plain i didn't see any other flavors not and that's intentional um explain so you know we have the recipes ready we we can start producing it but what we really want to do is just highlight that the innovation of the product in of itself right and and have people really taste it and really kind of appreciate the texture and how different and differentiated it is from from everything else in the market um and rather than saying you know okay well here's x you know y z and here's everything you know and i think that the product right now even well one that also allows us to get clearer feedback from the consumer and pinpoint exactly where we need to iterate but it's you know it's it's such an innovative and novel product um and we i just we want to speak for

SPEAKER_125: itself for a little while and you know we don't need to mask any kind of flavor right like you can

SPEAKER_165: put i don't know i think if you had poppy seed and sesame seed if you had a garlic bagel

Chamath Palihapitiya: you know like it is true that would mask it so that would screw up the feedback so i get that part i agree on that but i also think like part of the great feeling of a bagel is you know some people are just team sesame and some are our team poppy me yeah i you know i'm team uh all bagels i don't

SPEAKER_00: discriminate against against any bagel i like all bagels uh i'll even need a cinnamon raiser raisin i'm not down with the blueberry that's a little bit strange but i'm team give me the bag the brown paper bag they all came in and i will shake out every seed and pour it on top of my bagel with butter and cream cheese so i'm team everything i love it all yeah but i think those flavors are gonna really

Chamath Palihapitiya: knock it out of the park i you know putting rye in there and because some people are making rye bagels now uh they're very nice pumpernickel like you can get some of those flavors going like the really tangy ones pumpernickel rye uh sourdough i think that's actually gonna help a lot because you're gonna it's just gonna help with the experience so as soon as you can get those out jalapeno cheddar is a good pull from producer nick i don't know if you've had the jalapeno cheddar

SPEAKER_02: bagels uh but that's like a big thing in la which by the way the bagels in la are whack you

SPEAKER_168: know i've dealt with them for many years they're like six and sevens out of ten on their best day uh it's just there's actually a really good one are you where are you based

SPEAKER_164: i'm based in la you're based in la so you understand so if do you think then if that bagel an la bagel is like a six compared to a bagel then a better bagel 60 is 60 percent then you think

SPEAKER_15: well i was putting you at 50 so i think you're right behind an la bagel yeah i think if you put

SPEAKER_02: the flavors in people in la would pick your bagel over the carb bagel because people in la are like you know uh anti-carb and they're just obsessed with their bodies and and health and stuff like that so i think la is a smart place to launch this and people will the uptake will be

SPEAKER_168: much stronger in la where people are just absolutely reading labels well and care yeah i mean i i

SPEAKER_37: think that's true to a certain extent and and how people you know definitely care and uh about diet

SPEAKER_164: here a bit more but i think you know the it's not kind of prescribing to that certain way or a certain diet or kind of promoting that diet culture in any way right it's more about saying like over we're

SPEAKER_37: overhauling it in in like in totality so kind of saying that like you know imagine a world where you

SPEAKER_164: don't have to count carbs and you don't have to count calories and just know that you know what you're consuming is is good for you and not have to extend any kind of mind space to that right so i think that's kind of like exactly what we're trying to do and whether you know you're you know on the west coast east coast i think that's you know equally powerful of a mission and takes up you

SPEAKER_37: know the equal amounts of of mind space and um and yeah it's just you know really exciting la having

SPEAKER_17: lived in new york for 30 years in la for 10 and and here in norcal for a couple years i really think

Chamath Palihapitiya: the la consumer is absolutely the perfect consumer for you because when pressed juices came out they were more than happy to pay eight to twelve dollars for juice and that didn't fly in new york in the same way it would fly in la new york's got like a bagel culture they're gonna be snobby about it they're gonna be elitist about it whereas in la they're gonna be much more down with you know how low can i get the carbs especially if you're at four bucks because people in middle america are gonna

SPEAKER_38: have a harder time with the price point i think i could be wrong you know what's interesting is our there our largest consumer base is in new is from new york really yeah we ship more better bagels

SPEAKER_37: to new york than any other state and i think more than la in our the third state which is um i mean i guess kind of a tie between texas and florida but new york is like what's the go-to market are you

Chamath Palihapitiya: trying to get foodies are you trying to get diabetics you know when you do your marketing what marketing are you doing and how are you trying to find your customer for a new product

SPEAKER_38: like this you know what's so interesting is we always get the question like what's your target

SPEAKER_37: demographic initial demographic yeah but i think for us it was it's just it was so special you know off the bat because there were so many different groups of people um that were gravitating towards the product right so you certainly got you know people who um you know were are diabetic you know the people who are on on low-carb diets we had you know vegan um we had uh fitness and athletes um a lot of athletes because they love just the protein content that's in the bagel as well right it hosts

SPEAKER_38: and 24 grams of protein in in a bagel that's a big win yeah that makes yeah yeah and then and then you get

SPEAKER_37: people who you know are just health conscious but doesn't don't prescribe to a certain diet um you

SPEAKER_38: get you know it really is just it was all over the spectrum and it was just so many diverse groups of

SPEAKER_37: people um and which i which i think you know that speaks to the fact that people are understanding our mission right which is kind of you know using this platform um and saying you know if we can you know

SPEAKER_38: turn the most carb heavy food a bagel into the equivalent of two banana slices then what can't we do

SPEAKER_37: right it's kind of like pushing beyond these you know predisposed you know unnecessary limitations that we've come to accept for for whatever reason are you going to be d2c or are you going to try to

SPEAKER_125: do retail we are d2c right now um we we you know right now i think it's just so important for us to

SPEAKER_38: protect the brand and get that connection from the consumer and make sure the brand experience is is really special um and great and you know i think both grocery will get there eventually but you have

SPEAKER_37: to make sure you can support merchandising right because then there's you know a third party in between you and the consumer and you don't get that real-time data as quickly so so that's why we're focused on d2c we have started expanding to a couple with a couple partners that we think you know um would still be protective of the brand and you know kind of aligns with with our vision and our mission and one of them cafe in la um that's that's a good idea but we're at um ojai valley inn

SPEAKER_196: oh sure that's perfect i was going to say that's a great one yeah perfect destination and you know

SPEAKER_37: they can you ranch maybe next yeah yeah well they you know and they care a lot about the quality of

SPEAKER_164: you know customer consumer experience there right so what a better like there's no better um every time i say better now i stop um way to to make sure that our product is going to get taken care of

SPEAKER_38: really really well right because that's you know such an important part of of their business yeah it

SPEAKER_85: makes total sense to me and people are starting to look at their health and looking at i mean started

SPEAKER_02: with whole foods i guess whole paycheck um was you know like basically people saying i'm going to invest in my life through the food i eat and so that's why i think the tip of the spear people are great are you doing subscription stuff yet and then what's the what's the shelf stability because i just ordered it and i didn't actually unpack it when it got to the house so i don't know if it came it packed an ice or something but maybe you could talk a little bit about um how shelf stable they are i got

SPEAKER_125: to keep them refrigerated or not how long do they last so they're very very clean label um you know

SPEAKER_37: no preservatives so they should be frozen we ship them ambient um you know they'll last four to five

SPEAKER_202: days ambient without issue um so you know they're they're frozen you put them into the box or and

SPEAKER_50: then they may um over a couple of days in transit two or three days yep and then yeah and thawing and

SPEAKER_37: freezing that doesn't affect the texture so you know as when the consumer gets it um you know she should

Chamath Palihapitiya: either consume it or freeze it right and then if you're going to eat it you could either can you microwave it to defrost it or you just should probably defrost it on the table i'm sure you can

SPEAKER_35: but you just leave it out for 10 minutes and it you know pop it in the toaster and it's yeah i i was uh

Chamath Palihapitiya: really uh impressed and so next up is what are you thinking more breads you think of pizza where are you

SPEAKER_50: headed next or do you think you just got to do another year and get that bagel experience perfected

SPEAKER_37: so we're using the bagel as kind of our hero product to really establish the brand you know get out there um widen our distribution and i mean we already have a number of other products kind of

SPEAKER_38: in the pipeline in terms of r d um buns are ready which is just great and that's you know another reason why we started with bagels because you know it it's the most difficult finicky product to

SPEAKER_37: get right even from a lot of bagel snobs exactly from the consumer expectation standpoint and also just from you know if you're it's the most carbohydrate product right the equivalent of multiple slices of bread and i think consumers know that so being able to take that and then reduce it

SPEAKER_49: to the carb equivalent tube analysis is it it's it's an undertaking and once we were able to to crack that then then other um you know hamburger buns hot dog buns would be great because you get the burger

Chamath Palihapitiya: you get the burger juices flowing into you got the cheese you know you got condiments um if there were things that weren't exactly like you know the potato bun or whatever people's preferences are you know

SPEAKER_00: bleached white hot dog bun you know you're you're going to get the benefit of what's in between it which when i made yours i i i don't know how you feel about this but when i was growing up my grandmother would toast the bagel put some butter on it and then put cream cheese on it and everybody says you're crazy putting both on i'm telling you you put both on don't do not knock butter and cream cheese until

SPEAKER_121: your grandmother makes it for you it is incredible have you ever done it i have never done it but i will

SPEAKER_184: i'm giving you the green light i'm giving you the green light tomorrow maybe tonight actually i'm telling

Chamath Palihapitiya: you that you just make it nice and toasted like golden brown or a little bit better a nice layer of butter you don't go too crazy and then a nice thin layer cream cheese man when you get both because you get the butter absorbed into the um you get the butter absorbed into the bagel and then you get the cream cheese which is just a great mouthfeel and everything and that's where i think that's great i actually made an egg sandwich with yours too uh i forgot to tell you that but you know i'm big on the bagel egg sandwiches so then you're getting i mean how many grams of protein did you say you have

SPEAKER_168: in a 24 yeah so now you put two eggs on or a scrambled egg or two and oh my lord

SPEAKER_164: so so yes so 24 grams of protein is the equivalent of four eggs in terms of protein so if you're

SPEAKER_219: adding another two then you know yeah now you're just done you're gonna skip lunch you just had half

SPEAKER_164: a dozen eggs and you're not gonna be hungry the rest of the day you're never going to eat again

Chamath Palihapitiya: listen continued success with it i think you're off to a tremendous start i highly recommend everybody try it uh the easiest thing you can do is just go to the website right now eatbetter.com and just order a couple dozen give it away as a gift uh i'm telling you're gonna love it it they're it's a really solid bag like i said 50 60 for a bagel snob i think la people you're going to be at 70 80 easily and then i'll give you the extra 10 20 depending on if you're diabetic so i think you're closing in on the red zone i think you're gonna have an incredibly successful company and just stay in the bread zone man you can really help the world if you just now bread

SPEAKER_35: everybody loves bread bread can you imagine like a sourdough lobe that you're slicing through and just eating as much of it as you want there's no guilt keep talking i just you're talking my

SPEAKER_223: language now what else are you guys well i mean it really is like bread is like what i mean if you

SPEAKER_224: could get a baguette going oh a nice chewy baguette she said croissants oh my lord now you got me

SPEAKER_00: pano chocolate croissant i mean that's going to be hard because those are you're talking about layer after layer of very fine dough i don't know that same seems to me to be super challenging a croissant

SPEAKER_212: you know what's interesting is we're testing it with a sheeter in the in the mix yeah we'll see

SPEAKER_128: wow i i i wish you great luck with that i mean there are french people right now who are turning

SPEAKER_77: over mon dieu they're absolutely appalled that you would ever even consider doing this to a croissant

SPEAKER_48: but i i'm i'm i'm with you it's a lot of butter it's a lot of butter and you seem to be vegan your team vegan so there'll be no butter in your croissant i assume there will be no butter in the croissant

SPEAKER_207: but it could be a lot of equivalents out there are there yeah a lot of a lot of great vegan alternatives

SPEAKER_50: yeah i haven't had them i you know that's the thing my wife's got like five different vegan spreads at

SPEAKER_17: all times and you know just none of them stand up to me what's the best vegan spread is there a good

SPEAKER_238: butter one you like or i think mykonos is is pretty we got the mykonos yeah yeah no no not for me

SPEAKER_17: if i'm out of you know my irish butter i'll do the mykonos uh but only under pressure and earth balance producer rachel says she likes earth balance yeah no kite has anyone tried kite

SPEAKER_02: hills it's also great i feel bad for leaving that i see nick and i are team carrie gold yeah carrie gold he's got a guy go irish but you know listen i the more options that are out there the more i'm going to eat healthier and i really thank you for taking this on and i knew some entrepreneur would do

SPEAKER_17: it and i'm really thrilled congratulations on raising money from my friend alexis ohana and uh from uh

Chamath Palihapitiya: what's this new thing seven seven seven six seven seven seven seven so what is seven seven six is that a uh does it stand for like an area code or something does anybody know what seven seven six stands

SPEAKER_17: for i never asked them he's been on the pod so many times i think it it kind of dates back to

SPEAKER_37: to the olympics um and and it's about kind of you know new and and breaking barriers and you know they're just such a special amazing group um and you know i feel like every founder there they're so happy it's crazy um and lexus is a special investor i i agree i agree um and you know i think and now i'm just making a plug for for seven seven six because i love them so much they're great but you know i think some really special thing that they did that i don't know if

SPEAKER_252: any other fund does um is that that two percent yeah match thing explain what that is this is really

SPEAKER_37: innovative how special is that so you know they're the whole mentality of the fund is you know as a founder you are you know making personal sacrifices across the board right and and you're um sometimes negating you know care for yourself and you know it's it's their job and this is how they see it to

SPEAKER_38: take care of you as a founder and the way that they do that is they set aside two percent and that's on top of their investment um you know that's allocated to the founder for for personal growth and i think

SPEAKER_37: it's one percent directly to the founder and another percent that's you know doing things for people who you care about so you know whether that's child care if you have a child or you know friends or you

SPEAKER_38: know um and it's just it's so thoughtful and it's so special and i think that's just kind of indicative

SPEAKER_168: of the environment and and the fund yeah it's uh i mean you guys raised two and a half million

SPEAKER_17: dollars so it's 50 grand 25 for you to go to you know yoga or a retreat or mental health or whatever

SPEAKER_257: you need it's pretty dope and you know they get 10 when you have a fund your management

Chamath Palihapitiya: fees would add up to about 10 so he's basically saying is hey of the 10 on our 300 million dollar fund we would have 30 million in fees we'll take two percent of that you know whatever that would wind up being 30 million uh which is 20 of 30 million so you probably just hear mark six million to give to the founders isn't that it's really a neat idea i mean other people do interesting things they send swag or they have retreats you know like people do take a portion of their uh

SPEAKER_168: management fees and they'll host a retreat let's say and take everybody to hawaii or something

SPEAKER_02: they're founders but yeah i mean he's he's i alexis the the more i've watched his career the more i've appreciated like he's a special individual seven six six seven seven six bce the first year of the

SPEAKER_17: olympics the olympics were held and i think his daughter is named olympia olympian is that right uh yes and she loves better bagels ah very cool very cool that's all kind olympia is the name of his daughter yeah because she she was actually on this pod she jumped in in the middle of a bug

SPEAKER_135: it was super cute all right listen i gotta let you go get back to the laboratory get to work on the

Chamath Palihapitiya: sourdough get to work on the croissant we're all really excited you're doing this amy and everybody go to eatbetter.com right now and try it out thanks jason okay we're doing this week in startups meetups and producer rachel is running them if you want to see all the information on our meetups go to thisweekandstartups.com meetups and with me again today rachel reporting how are you rachel hi i'm doing well how are you i'm doing great uh every monday we try to talk about our meetups the meetups are by founders for founders we're going to let some angel investors in as well but we've had some great success we started this program i think in september it's now october or maybe it's november just uh past yeah it's november 1st yeah so i think we've been doing this for under two months

SPEAKER_48: which cities have completed mission one and explain what mission one was for meetups

SPEAKER_272: so the first meetup there were five to ten founders and basically the whole thing about

SPEAKER_273: that was get comfortable so five or ten startups excuse me five or ten founders meet up everyone pays their own way you have a meal grab a drink grab a coffee really casual no reservation

SPEAKER_275: needed and the cities that have completed that are la new york city london tokyo austin boston and chicago and la new york city oh you guys that's seven cities have already done their first mission yes seven cities and three are on um three are on meet up to london new york city and la great so do we

SPEAKER_00: have any photos of those meetups i asked everybody to take pictures so we can put them on their on the

Chamath Palihapitiya: website and they are on the website they look great here we go uh this is beautiful here's the website everybody so meetup one was complete by los angeles new york london and you have the photos up there fantastic and uh so we tried to make it like uh we gamified this and we said you're going to do three missions the first one is to just have a breakfast or a lunch with just a handful of founders can't buy a ticket to it everybody pays their own way because one of the things we're trying to do is make this for founders by founders and keep it from becoming a sales event do you ever go to those events like oh there's a startup event going like every four to five people you meet are trying to sell you something and then one person's an actual founder we wanted to do the opposite 100 founders at least for these first couple uh so that's amazing great job rachel and we're getting to know all these people and they're on the slack coordinating and they get to know each other so that's a lot of fun

SPEAKER_23: and are friendships being made and people are starting to get to know each other i think so

SPEAKER_275: and i think if even if you're just attending the meetup i would recommend joining the slack not just organizers because i've noticed that sometimes people show up to the events and they can't find

SPEAKER_273: the founders that they're supposed to be meeting with so i'd recommend everybody sign up for the slack it says that on our website but i've noticed that that is a step that some people have been skipping and i'd hate for people to go all the way out there i've had two people now reach out to me that have driven quite a ways to meet up and they didn't know so we got to be more specific about

SPEAKER_32: where and when so when they say they're doing it at a bar everybody should wear like an orange shirt

Chamath Palihapitiya: uh or do name tags and just put twist so they can make their own name tags and just put twist and the first name on it and that'd be fine um so now if you complete mission one we give you your own url

SPEAKER_14: as well so if i go to thisweekendstartups.com slash london is a good one to look at right now

SPEAKER_18: uh you have a london page up and then the people who are actual founders who are the founder coordinators the founder organizers i think we're calling them they get to be on that page and link to their company and link to their social media is that what we're doing for them yes so i'm going

SPEAKER_275: to give them a little bit more range i can show you as an example of what london looks like right now this one has not none of them have been given yet to the founders but once they get access to these i'm

SPEAKER_273: going to let them do what they want with them yeah and then i just added this little infographic that explains one of the tweets and this is information on their next meetup but what is that you made an infographic it's just a little one that in case they want to send it um that was actually recommended from a founder in london so john shout out to you for having this idea that he said it would be nice to have something just as an attachment to send to people and i included that in everybody's page um so if

SPEAKER_18: they complete mission one they get their own notion page at this weekend startup slash their city and they get to edit it put their own information on so we'll trust them to edit their own page and be stewards of the brand and so that's really the issue here we're trying to mitigate in real time rachel

Chamath Palihapitiya: is they're representing us to a certain extent i mean they obviously represent themselves but as we've seen already we've had a lot of people want to do this who have an ulterior motive which is marketing which is to get free advertising on this weekend service that this is not an end run to get advertising to reach the audience this is for founders by founders if you're a lawyer accountant sas developer sales person selling insurance you know human resources headhunter all that great stuff we appreciate you in the industry but you don't get to organize the this week in startups event you can buy ads on this weekend startup and maybe we'll have a sponsorship on mission four mission two is 25 to 50 person event um and rsvp but all founders still so we're checking that you're a founder how

SPEAKER_14: do we know if somebody's a founder or not when they rsvp for an event i will ask you for your linkedin and

SPEAKER_294: i will ask you for your startup's website and if you don't have either one of those and you still

SPEAKER_275: help are saying that you're a founder i'll have to follow up via email to see if you have anything you can show me and right now we are kind of focusing if you're becoming an organizer on people that are

SPEAKER_273: post-launch for their startups so i'm sorry if your startup isn't launched yet um this would be most beneficial for founders meeting if you guys have already already launched your startup now when we

SPEAKER_34: get to mission three we're going to open it up a little wider founders will come free we're going to

Chamath Palihapitiya: also let uh angel investors go and we're going to give bracelets green bracelet if you're an investor

SPEAKER_17: confirmed investor from our network and then uh the orange bracelet if you're a founder and we're gonna get those rubber bracelets made and send them like the live strong bracelets for people right

Chamath Palihapitiya: yes perfectly uh any drama or issues at the events yet no not at all um so for chicago's though i felt

SPEAKER_299: bad i saw somebody some people from chicago uh maria was on the live so hi maria but i saw that they

SPEAKER_275: had to actually leave their intended meetup place because only two people could sit at a table they

SPEAKER_273: made an update to the location so that's another reason to join the slack because if an update like that happens you know and they leave you guys better find them they relocated though to a starbucks

SPEAKER_17: close by and it looked like it went well perfect yeah uh that's great yeah so i mean obviously covid depending on the city you're in we'll have different things so go to this being a startup slash slack

Chamath Palihapitiya: if we can get i mean my goal is i want to have 10 of these up and running this year you've already done that and it's only november 1st so you you're way ahead of schedule congratulations

SPEAKER_17: on that and by next year so september of next year i'd like to have a hundred chapters of this week in startups meetups so we're at 10 we just need to 10 exit actually we have more than 10 right

SPEAKER_02: we have like maybe another 10 that we're trying to collect founders for so what are the cities that

SPEAKER_307: need founder organizers um the cities that need founder organizers berlin needs is so close let me bring

SPEAKER_273: up a list because there's actually quite a few that only have three founders and something that i would like to know for those is if you guys give me a company that isn't your own company i still look you up on linkedin so i saw a lot of people from st louis were giving me companies that weren't that they weren't founders of so that's a little drama i guess happening on the rsvp uh side for the organizers

SPEAKER_72: yeah so sometimes you'll get the sales people know this like the people were trying to sell into

SPEAKER_17: founders they know how to play this game so they say they're a founder or they'll put their founder's name in they show up and you know so people will try to do this and you know for the people who are the founder organizers you can just tell people like hey listen it's just four founders by founders

Chamath Palihapitiya: eventually like by mission three what we're going to do is we're going to let founders come for free investors come for free anybody else can buy a ticket is my plan okay and we're running the signup form

SPEAKER_18: so we'll have a ticket price people will buy a ticket and we'll give that money to the local

SPEAKER_17: organizers to spend on the space or food whatever they want and so i could see this i don't want it

Chamath Palihapitiya: to be a business uh for people i want them to do it as a labor of love because they want to meet other founders in support of the founders but if it did generate a little bit of income uh or revenue to underwrite it that's not the end of the world so we have a sales team here if we do get 100 cities what we'll probably do is we'll ask twilio or you know amazon web services or whoever's got a you know international footprint you know linkedin or whatever if they want to sponsor the 100 cities and if they do maybe they we can send a little bit of money for food to each one or something

SPEAKER_50: i don't know i really don't care about the sponsorship so awesome i'm just putting it out there for down the road that sure you know if a sponsor did show up and they wanted to buy everybody donuts or hamburgers or pizza i don't mind that but i just want to keep it from getting

SPEAKER_27: overtly commercial so like tedx seems to have done a good job with this by the organizers are the key

SPEAKER_18: rachel so if we have the right organizers in it for the right reason that everything should flow

SPEAKER_17: perfectly and then we're collecting all the emails so we're not having people spam because that's the other thing that happens at these events you know you have a bunch of founder organizers then some sales person gets the list and they start sharing with all their friends and everybody starts getting spam and then people who are founders put jason plus twist at calacanis.com and they have that little thing where you put the plus in your gmail account so you know you sign up for each service specifically

SPEAKER_321: and they're like look i caught this person spamming you're selling the list you're breaking can spam and

SPEAKER_168: it's like that's the i want to avoid yeah whenever possible i'm really excited yeah yeah with the amount

SPEAKER_275: of uh people that are signing up that are actually founders and not sales people i think that'll

SPEAKER_273: be hopefully hopefully we'll be able to keep that under wraps um we haven't gotten that many sales people coming in we have gotten though you mentioned lawyers we've gotten a lot of lawyers um but berlin portland and seattle are the next three along with st louis so those four places if there's just one more person that signs up for those cities they can start planning so we should put

SPEAKER_72: up the sign up form this event is only for founders if you are a service provider then put in

SPEAKER_02: parentheses lawyer accountant headhunter uh we will be having a larger event that you uh can be invited to sign up here for our uh in for our announcement list so every city should have an

SPEAKER_17: announcement list and then also a uh sign up form for specific events so i know there's a lot of work

Chamath Palihapitiya: so we have to figure out how to just build these lists and manage them so start thinking about if we had 100 lists what service would we use to manage it do we have a group sign up list or where people pick what cities are interested in on type form or something yes it is there it's an interest form

SPEAKER_275: um and so far there are quite a few cities down but most of the people that wrote in the interest

SPEAKER_273: form they're actually there are no cities in the interest form that don't have also have organizers if that makes sense so there's not any stray stray cities yeah i would actually put the

SPEAKER_02: stray cities in so i put all cities like if there's going to be 100 cities i would put which cities

SPEAKER_17: and you know which regions are you interested in asia north america south america europe and then put the cities under them this way people can start you know uh signing up for the cities we don't

SPEAKER_168: have and then we'll email them sounds great job rachel this is really exciting i think it's uh yeah i want to do it for the fans of the show and for founders so it's great

SPEAKER_14: and then who's going to have the first mission to who's going to have the first mission to that is a

SPEAKER_307: great question let me go back to the website if you guys want by the way this week in startups.com meetups if everybody is looking along um i believe the next website is going to be at london um but

Chamath Palihapitiya: i'm going to have to check over to november 11th new york city meet up to november 9th la meet up to november 4th so okay and those are occurring at restaurants bars cafes or like co-working spaces do

SPEAKER_275: you know some of them have some of the founders have offices so for example london that's

SPEAKER_273: startup has its own office new york city has been doing a great job on finding reservations for places so it really depends on the city and the availability on most places i think doing restaurants do have to make reservations beforehand so that's something to note to some people for example like san francisco that sign up sheet is limited so if you don't sign up within the first 15 people they're not going to you can't go because it's a reservation they won't have a seat for you so these are these are a little time sensitive for people i'm wondering well and then eventually you

Chamath Palihapitiya: know just as a general rule of thumb pick a dive bar or you know a pizza joint someplace that's large you know a beer hall comes to mind a barbecue joint you don't gotta go fancy here no private rooms let's keep this real keep it affordable you know place that's got you know pitchers where you can you know i always did mexican pizza burger joints those places you could have a large group of people you could order three pies for 20 bucks each you're a couple pictures of beer or you know sangria that's the vibe we're going for we're not trying to be fancy here this isn't like chamath and sacks ordering you know five thousand dollar bottles of wine like i want a five hundred dollar bill

SPEAKER_17: split between 20 people everybody puts in 25 bucks you're good yeah you know that's the thing you said

SPEAKER_273: that london's at beer i mean uh no new york city's at beer authority which is kind of cool and i know austin actually did there is also at like a beer i don't think i don't i don't think so now that's

SPEAKER_344: not cool well you got to go to meet up too boys the first one there isn't there only supposed to be

SPEAKER_346: like eight people all right listen i don't want to hear any excuses you guys also i'm not a founder

SPEAKER_25: i'm not a founder i know you're a producer of the show go and take some pictures and meet the

Chamath Palihapitiya: audience it's a great idea you guys got to go to the next one for sure and then i am going to uh zoom in to um some meetups so what you should do is give me the founder's phone number rachel when it's occurring and sms me and i will maybe facetime with them uh just randomly we don't have to record

SPEAKER_17: her or anything and then for mission three we will have an av setup uh and do it officially but i could

SPEAKER_50: just you know facetime and just say hi to everybody but i'm really excited about this awesome i love that

SPEAKER_349: great job you you