SPEAKER_01: All right, big show today. What's in the news, Mullen?

SPEAKER_00: Nothing. Nothing? Not a lot. I mean, there's like one big acquisition story. Is there an acquisition story? I love M&A. One of my favorite things. What do we got? Poshmark.

SPEAKER_04: Yeah, that's where we're going to go with that one. Yeah. Maybe a little, maybe a little bit of the other thing.

SPEAKER_06: You're kidding. Also, there was breaking news right while we're on air that the Twitter deal is going to go through, apparently. So we'll talk about that to the extent we can. I got to tiptoe along the third rail, as it were.

Jason Calacanis: We definitely are. We're going to talk about circular economy startups and their exits and their incubation at Google. It's getting really interesting out there and the idea of like not buying new stuff.

SPEAKER_16: Thrifting. My daughter's way into this. Kids are into this. And then Selena Gomez has a new mental health startup called Wonder Mind. She just raised that $100 million valuation with no revenue backed by Serena Williams. We're going to talk about that and how do these celebrity deals go down and the future of mental health being delivered digitally.

SPEAKER_19: Yeah. And it does not go the way you think about that valuation, nor does our conversation about Liquid Death raising $70 million at a $700 million valuation. Really great conversation. Important conversation.

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SPEAKER_30: All right. Big news day today. It's Tuesday. Once again, my phone's blowing up.

SPEAKER_32: It's so weird. On Twitter. It's so weird. So weird. I'm just here to talk about the big, big, big acquisition news in the tech industry today.

SPEAKER_34: Poshmark. Oh, is that being bought?

SPEAKER_35: Anything else at M&A that we should talk about?

Jason Calacanis: Or not talk about? For those of you who are not joining us live, I just want you to know it is now 10.33 a.m. And it was at roughly, what, 9.57 or 9.50 that the breaking news alert came down. 9.42 a.m. is when I got the Wall Street Journal breaking news alert saying, Elon Musk proposes closing Twitter deal at original terms, billionaire's lawyer sent a letter overnight making the proposal.

SPEAKER_43: Got it. The end. Uh, okay. Well, congratulations on your purchase and, uh, Congratulations, Twitter, I guess. Congratulations.

Jason Calacanis: Uh, trading shares of Twitter were halted. Almost immediately after, but before they were halted, they shared, they climbed as much as 18% on the news, as you might imagine. Um, because that climb put them at 47.93, which is still, you know, a little bit under the offer price of $54 and 20 cents per share.

SPEAKER_51: Yeah.

SPEAKER_16: So obviously, uh, if you've read in the press, uh, or my at mentions and my haters, uh, I'm a little bit dragged into this. Uh, although I'm not super involved in it, if I'm being honest and, uh, I have a couple ideas, I think for the brand, a couple of ideas on the margins. I think some of them are good. Um, I'll talk about all this when this is buttoned up, but, um, I can't get too into details about anything. And just to be very clear, I don't know anything. I literally do not know anything. Uh, so I didn't know this was going to happen. Don't know any details.

SPEAKER_57: Just so we're super clear and I do think, um, Twitter under new management could, uh, be an amazing platform.

SPEAKER_59: I think it's got tremendous potential. I've said that forever. I think it's got incredible, incredible potential.

SPEAKER_60: Um, and if you can land two rockets at the same time and build a million electric cars, whatever it is, um, I think you could make this company more functional.

SPEAKER_61: Yeah, definitely not the same jobs, but we'll see.

Jason Calacanis: I guess we'll see. I guess we'll see. All we know is that this is where things stand now. I cannot imagine any scenario in which the board, uh, is going to say no to the price that is a significant premium over what the stock has been trading at. And very likely, um, it may have been finally pointed out that like contracts are contracts and that should you lose this case, the Delaware court has the power to just like take your company. If you don't fall through.

SPEAKER_05: There's a lot of speculation on what they would do if the person didn't pay or something like that, you know, crazy scenario like that. And it's not even that crazy, right?

Jason Calacanis: Like the Delaware court has the Delaware, if you incorporate in Delaware, those are the rules. That's why Delaware keeps everybody in line.

SPEAKER_64: Um, I think it's, um, it's a great jurisdiction for, it is the primary jurisdiction for doing startups, uh, for a reason.

SPEAKER_43: And, uh, exactly rules really matter.

Jason Calacanis: Like accountability matters, rules matter. And maybe that's what we're, maybe that's what we're seeing today as we're seeing, as for the rest, who knows? Who knows now is now people, all we know is what's happening right now. I have no details to share.

SPEAKER_48: Yep. All right. Let's talk about the other big acquisition.

SPEAKER_74: Sorry, not being able to talk is, I can't even imagine what you're, do you feel it physically? Do you have a stomach ache?

SPEAKER_54: Like, it's kind of like getting stabbed with a kryptonite spear, you know, like, there's always like a scene where Lex Luthor is like about to get annihilated by like Superman and the eyes are beaming up and he's about to like, and then Lex Luthor's like, beep.

SPEAKER_77: And, you know, you just like, he stabs him with a, you know, spear with a little tip of kryptonite and goes, ah, it's Superman.

SPEAKER_79: It's just honestly, that's how it's like my kryptonite nightmare to not be able to talk.

SPEAKER_43: Not talking is, is my kryptonite.

Jason Calacanis: However, not giving my opinion, it's my kryptonite. Very, very smart of you. And I'm not going to bait you any further.

SPEAKER_85: You've, you've, you've done a good job so far. Ooh, the bait is just right there on the hook. Should jump out of the water by time.

SPEAKER_89: Really? I'm trying so hard, trying so hard. All right.

SPEAKER_76: Next. Uh, posh mark. Posh mark. Let's just, uh, posh mark is a fashion.

SPEAKER_16: What do they call it?

SPEAKER_91: A subscription or a resale, it's a resale e-commerce marketplace. Some marketplace. Yeah. Yeah.

Jason Calacanis: So people resell used goods. It's super popular with the kids because you can get, you know, cool stuff cheaper. Um, there's sort of like posh mark and D pop are the two big competitors in this space for kind of resale e-commerce. However, despite being very popular with the kids, uh, posh mark is being acquired by the South Korean e-commerce company Naver Corp for $1.2 billion that values it at 1.6 billion, which sounds perfectly respectable. However, it is also less than half the price of when posh mark went public in early 2021, its peak market cap was $7.3 billion, which had hit on the day it went public. It's competitors, uh, include depop, like I mentioned, of course, also thread up the consignment shop, Facebook marketplace, and the real, real, and, um, this is just an interesting, this kind of raised this question. We're seeing this like circular economy thing get more popular resale of clothes, but also there's this question of like direct to consumer e-commerce, I guess, and how hard it is.

SPEAKER_55: Yeah, there's a lot of things going on here, um, thrifting is a trend, so this is a big deal, uh, my daughter who's 12 and, uh, some of her friends, they like to go thrifting, so whatever town we're in, you know, we were in Tahoe and there's like five thrifting stores on Lake Tahoe or around there, and this is like an activity to go thrifting, uh, for young kids today, and, uh, I took my daughters for ice cream.

SPEAKER_06: My daughter had a blazer, she had thrifted, five college-aged, uh, women, uh, came over to my daughter at the ice cream store to compliment her on her outfit and wanted the details, and, you know, she's showing them the labels and how much she made thrifting is, oh, it's a huge, it's a huge thing.

SPEAKER_48: My son has gone on several dates that consisted specifically of like thrifting and then going out for lunch. Like, it's the, it's a hot activity.

SPEAKER_16: That's it. That's really interesting. So, whenever you're running a startup and you see like some energy like this, you can kind of ride that wave, right? And so, you don't have to create the wave, the wave exists for a reason. And so, what is the, the core reason this exists? Well, there's a generation, um, who I think care very deeply about the planet.

SPEAKER_104: They've probably read or learned, perhaps even been indoctrinated to this concept that, hey, the planet is screwed and everything matters.

SPEAKER_16: And so, what matters? Like spilling dyes and, you know, creating things that you don't need, all these Amazon boxes showing up to your home. I think it's just a generational shift that that's lame. It's lame to, you know, what are the, what's, and then there's fast fashion, which is the other trend that I think these are kind of like two opposing tides.

SPEAKER_55: Fast fashion is, hey, you could buy a Coachella outfit, if I'm correct, like for 15 bucks, but it's disposable. And like, you do not expect these clothes to last. They're not built to last. They're going to be shredded and thrown away.

Jason Calacanis: This used to be your H&M, a little bit your Zara, and now it's all sheen all the time. Sheen, and in fact, there was just a, it's so interesting because you have these two opposing Gen Z forces. Like one is, you know, wanting to shop more sustainably and being aware of the climate crisis and wanting to do thrifting, because that's really cool. But then when there was like a Gen Z's favorite brands and sheen was like up there, it was above any clothing retailer. That's fascinating. So I guess. They love it.

SPEAKER_93: You know, and there's this other thing of. They're not all indoctrinated.

SPEAKER_113: Well, I mean, I think it's a good indoctrination. This is an indoctrination that I think is pretty great.

SPEAKER_16: I mean, it's a religious kind of fervor I find with the young kids, you know, on certain topics these days. They're very passionate about, you know, certain things if you live in California. And one of them is sustainability and it's, it's really been drilled into them like the world's ending and this your buying of clothes is part of that. And it's like, okay, great. It's that's not true, but okay, sure. It's every little bit helps. I'm sure. Um, and I think it also has to do with this, um, controlling your spending, uh, is another trend that's going on here.

SPEAKER_104: Yeah, which is, I noticed a lot on like social media and tick tock, there are young people counting up how much they spend every day.

SPEAKER_06: Now this was a device in magazines, right? We you'd have a magazine. They'd show you like all the different clothes that somebody bought, what they cost. Right.

SPEAKER_55: But I remember when we were growing up, it was kind of aspirational. Like you should be buying these. I was like, I remember somewhere, there's a $30 Armani socks. And I was like, who, who pays $30 for Armani socks? I can buy like, I was like, I was about to say socks for you.

Jason Calacanis: You mean when you, I was like, oh, you mean when you graduated from old Navy to gap? And then when you had made enough money that you could go from gap to banana Republic, that was it you had arrived.

SPEAKER_127: Yeah. And, and, you know, there was always another level to go to. Right.

SPEAKER_104: And, and I think now they've kind of, people are opting out of that treadmill of what's the next brand that I can afford that I can trade up to.

SPEAKER_55: And you also start with cars. People started with, you know, whatever, a Honda Civic, oh, maybe I could afford to use Volvo and maybe I could afford a Saab.

SPEAKER_16: And, you know, obviously Mercedes and BMW became like the height of, you know, what a young person could aspire to own for their car. I get the sense that people are taking a different approach to this, which is kind of awesome. Because if you don't, if you don't put yourself on that treadmill in college, I think maybe the thing that broke people, the higher education costs, if you just opt out of all that, which I've actually done in my life a bit. And, um, man, your stress level just goes way down. Mm-hmm. My stress level is super low because I don't waste money on nonsense. Like I don't fly private jets. I don't, you know, stay at ridiculously expensive hotels.

SPEAKER_132: Some kid was perplexed that I was in coach the other day and I was like, well, there were no first class suits available, but also because they were like, you're like, to be fair.

SPEAKER_135: I also, I was pretty perplexed too, but no, I routinely say if I am traveling under three hours, I don't care.

SPEAKER_55: Or, you know, if I, if it's a regular, if it's not like a big difference, sure, I'll, I'll take a business class ticket or whatever. Um, but I, I'm kind of like, if it's, if it's absurd, you know, I don't mind, you know, uh, being in a, you know, in a coach and, uh, people are kind of upset at me for it.

SPEAKER_142: Like, I had like two different people, like, what are you doing in coach on like the same trip, one going and one coming back? They're like, you're, what are you doing?

SPEAKER_55: Flying, one was because I was flying coach, one was because I was flying commercial. And I'm like, number one, like how rich do you think I am? Number two, like, why would I fly a private jet alone? Yeah.

SPEAKER_143: It's kind of lame. I mean, no offense to my friends who fly alone. Um, I understand if you have to do it for a business or something, or if you own the plane already, but.

Jason Calacanis: Mm-hmm yeah, but also you just kind of want to, I mean, the, it, the, the question of aspiration, like aspiration drives human society. We talked about this at CNET all the time when we were talking about programming, what we used to call programming the front door, like deciding what stories were going to go on the front page that in the old days, kids, sweet summer children, there used to be a thing called a homepage.

SPEAKER_48: Yeah. Editorial and people would go to the homepage to find information.

Jason Calacanis: And then you would carefully choose what information should go there. Um, so that people would enjoy it and click on it.

SPEAKER_151: This is before the algorithm made everybody's homepage their own. Exactly. It was actually a little stepping stone. Yeah. It became the homepage for the whole world.

SPEAKER_104: Well, yeah, you had to type in what you wanted, but there was also a, I don't know if you remember this one, there was the my craze. Um, so you would put my.yahoo, my.google, my.lycos, and my.aol. And so their idea was you could program your own homepage. So before there were algorithms, you would go to your AOL or Yahoo homepage and you would say, okay, on the left hand side, I'll put my stocks on the right hand side. I'm gonna put my sports, uh, top middle is gonna be my news. And then I want my email after that. Then I want my weather over here. And you had these widgets and there were entire startups.

SPEAKER_16: I kid you not created to be homepages. And it was a really clever idea. Cause every time you would open a new tab, boom, your heads up display was there. Um, really, really cool.

SPEAKER_97: Literally what we were talking about yesterday actually is like, give me the ability to program my own experience.

Jason Calacanis: Don't, you know, don't push it on me anyway.

SPEAKER_16: Um, it turned out by the way, when I went to AOL and I saw my company there and I said, Hey, let me talk to the team there. It turned out like 2% of AOL users ever changed anything on their home. Exactly. No one ever did. Nobody ever wanted to take the time to do it. And that's why the algorithm one, because asking people to do anything is going to

SPEAKER_15: result in them probably not doing anything. Yep. A hundred percent.

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Jason Calacanis: So anyway, now we're in the shakeout period of circular economy shopping, right? Or just basically, let's just call it online thrifting. I think even calling it circular economy, like, yes, that's part of the reason that some people go and shop there, but it really is online thrifting. It's cheaper. It's super nice. Like, but, you know, this question of like lifestyle and how you represent your lifestyle is definitely changing. Yeah. However, this purchase at this discounted price, is this macroeconomic, do we think? Or does it say something about e-commerce and thrifting online?

SPEAKER_104: Well, it's being bought by Naver.

SPEAKER_16: Naver is like the Google of Korea. Yeah, I actually met the team there. It was part of my inspiration for Mahalo in the early days, because at the time, Google was 10 blue links, and I had seen Naver, my wife is Korean, I had been to Korea, and there was a company called Daum, D-A-U-M dot net, and there was Naver. These were like the Yahoo, Google there, they had all the search market share.

SPEAKER_104: There are countries, Molly, where the citizens are, um, very much, uh, nationalistic, and they only want to use their brands that are built in that country. So if you were to look at Google, uh, expanding around the world, there were like four or five countries they, they really didn't, um, uh, dominate in Yandex in Russia, Yahoo Japan, which was run by Masayoshi-san, and was a completely different experience, and Naver,

SPEAKER_16: uh, and Daum, um, were, and also Taiwan, also big Yahoo users. So, uh, because Jerry Yang, I believe was Taiwanese, and, uh, I'm correct if that was the story.

SPEAKER_06: So anyway, Naver bought it. They're a big portal. I think, uh, this sounds to me like they have a thesis, right? We talked about the thesis for Figma, right? Okay. They're a potential competitor. Okay, we get all those accounts. The, the market for people who need the Adobe suite is this, you know, I'm holding my hands out about six inches wide. Uh, and then if I were to hold my hands out all the way to the entire population, that's Canva, and then somewhere between Canva and the Adobe suite is the Figma population. Anybody in business could have a Figma account because everybody in business has something to say about the product probably, right? Maybe not.

SPEAKER_132: I don't know. People in the cafeteria maybe don't, I don't know. People in the proverbial mailroom maybe don't.

SPEAKER_06: So I think there's a, probably a thesis here, which is the, this company is number one at thrifting or, you know, a very big player in thrifting and they think this is a global phenomenon. Um, and I think that's actually kind of an interesting thing too.

SPEAKER_16: I wonder if moving these products around the world, um, could increase prices. So we take all of the phones from America. They, people know they go to South America, they go to Africa, they go to emerging markets, some cases frontier market. So you're an iPhone 10 in a frontier market is like an iPhone 14, right? It's, it's, it's, uh, going to be much better than the average phone there.

SPEAKER_104: Uh, so I have a feeling they have a thesis and I, I don't know exactly what it is, but this is the bargain basement shopping. We're going to say, uh, you know, the fact that Peloton I'm taken out to me is shocking. Buzzfeed hasn't gotten taken out. I mean, I think you're going to just see a ton of these, what they call tuck in acquisitions. So a tuck in is, uh, an acquisition that's less than one or 2%.

SPEAKER_16: Um, let's just put a number on it, like less than 3%, 4% of the value of a company. So neighbor versus this, I don't know what neighbors worth, but it's gotta be 50, a hundred billion. So I have a feeling this is a tuck in acquisition and they probably have a theory.

SPEAKER_162: Hey, how can we make this go 10 X from here?

Jason Calacanis: Well, a little more on the circular economy. Goodwill is making a push to its online stores. I'm super excited about this launching its curated marketplace of donated goods to compete with Poshmark and the real, real, and they're calling it goodwill finds. So they're just taking all the work out of, you know, discovering that someone accidentally or not, um, dropped off.

SPEAKER_187: Wait, they're calling it goodwill finds what a terrible name.

SPEAKER_189: They could have just as easily called it hunting.

SPEAKER_191: No, just call it hunting. No, the find is the key. They are finding it. They took, did all the hunting. Put it together, Molly.

SPEAKER_168: Oh, I see where, I see where you're going there, but I see where you're going.

Jason Calacanis: Okay. I'll give it to you. I got you. Points. Cheers. You got me. Wow. That was a slow burn on my part. That's embarrassing. That shows you how excited I am about the fact that I literally found like a Burberry button

SPEAKER_48: down on goodwill finds, because in thrifting brain, I was like, Oh, what I have to say, not for Italy, Italian herringbone chain. Oh my God. Uh, and then it all goes back to goodwill and to charity when you bought, when you shop

SPEAKER_32: there and it's going to include high end fines, like real, real great.

SPEAKER_15: I love this stuff. I love this.

SPEAKER_104: I'm like, no, wait, I don't understand how goodwill works. This is a nonprofit. You give them stuff.

SPEAKER_16: You get a tax write off. They take your stuff and then they put it in a store and they sell it. Yes. Um, and they made more, it says here in our notes, according to Bloomberg, they made more than 5.4 billion and donated goods, retail revenue across the U S and Canada last year. Um, net proceeds basically means proceeds to, uh, to help, uh, it's always, I thought it was a redundant statement.

SPEAKER_104: The, the profits went to train a hundred thousand people to get full-time jobs every year. Fascinating.

SPEAKER_16: I didn't know that, that there was, their mission was to help people get trained for full-time jobs. Great. Awesome. Yeah.

SPEAKER_17: Um, why not make their mission to give people high paying jobs at the goodwill stores?

SPEAKER_00: Oh, they do that too.

SPEAKER_28: They do that too.

SPEAKER_00: They definitely give people jobs at the stores. Yeah. Yeah. It seems to me like, yeah, I mean, training's great.

SPEAKER_16: But I mean, if goodwill is such a great business, just taking every bit of money and then making really high paying jobs would be like the total flex.

SPEAKER_06: I've always been, somebody asked me like, uh, on, um, I've been doing like an after all in calling show on the call in app and, uh, taking questions. And somebody asked me, you know, what, uh, what's going on in nonprofits? I said, uh, you know, nonprofits are very challenging as a operating system for a startup.

SPEAKER_55: Mm-hmm because you can't really make a profit. If you make a profit, it causes all kinds of problems. You're under all the scrutiny, the overhead of running a nonprofit is also hard.

SPEAKER_06: So I said, if you really want to do a nonprofit, just do what I call a four break. Even just spend all the money every year on whatever it is you want to do and just call it a four break even because you get a lot more flexibility and optionality. If goodwill was an actual for profit, they could take the Patagonian kind of approach, right? I think Patagonian is like a four break even, right? That all the profits eventually went towards this trust. So goodwill should just flip to being a for profit and say, we're going to pay absurd salaries with great benefits to our employees and just make it like they could show Amazon exactly what would happen if all the profits, you know, and gains went to the employees. Love it. Seriously, write that down.

Jason Calacanis: Goodwill. It's excellent. And then the circular economy is getting so big that Google just announced that it's creating an online only startup accelerator focused on the circular economy. So companies that are, yeah.

SPEAKER_65: Didn't they just lay off half the people at their accelerator? I don't know. Maybe they didn't like that one and now they want this one, but it's companies.

Jason Calacanis: Um, so they'll be doing this accelerator. It's a 10 week program for companies that are focused on deliberately reusing, repairing and recycling instead of producing goods that wind up as waste will offer mentorship and technical support through a mix of one-to-one and one-to-many learning sessions and applications for that accelerator opened yesterday. So go through that and then call me at the climate syndicate.

SPEAKER_104: Let's sure. Let's talk Google for startups. Yeah. This is their pro Google for startups. They've been doing this for a while. Um, and, uh, they have an accelerator there.

SPEAKER_16: I don't know if they invest in your company or not. I don't know anybody who's gone through their accelerator. I'd love to meet them.

SPEAKER_104: I, uh, a lot of times these accelerators are to help you are onboarding for their cloud

SPEAKER_06: computing, you know, offering. So they'll, you know, not to be cynical or anything about it's still valid. Um, and if you go to it, I think it does help validate you because there's some selection process. So there's, there's no dig to it, but I do think that is typically in the first

SPEAKER_10: paragraph of the tech grudge story.

Jason Calacanis: Even it's like the efforts, the, you know, latest to help environmentally focused startups grow while potentially hooking them on as cloud products in the process.

SPEAKER_181: Oh, it's okay. Yeah. So I was just given that as a Clara, a clarifier that it's not a financial thing.

SPEAKER_06: It's a, they're kind of trying to get, they're trying to take off customers, take off, not like upset, but to, um, um, you know, intercept customers before they start using AWS. It's a very smart strategy, by the way. I think Google is brilliant for doing it. Yeah. And more folks should do it.

Jason Calacanis: Yeah, absolutely. And if it, listen, I mean, if they end up incubating great startups for me, I'm stoked.

SPEAKER_104: Yeah. Uh, so this is a theme class. Like we, we considered doing theme classes. The problem when you're running an accelerator of doing a theme Molly is it's really hard to

SPEAKER_16: find startups that are in the stage of their life is probably a six month window, 18 months, six to 18 month window. When a startup would consider an accelerator, it's hard enough to find people who are in that window and that if you narrow it to a specific vertical, it's particularly hard. But if you're doing it and you, you don't care about how much money you're putting in, in the deal, cause I'm not putting money in here. I think I'll just give them credits that anybody can join it and it's virtual. So you don't have to, you know, just show up once a week, um, I think probably. And just pitch your startup and stuff like that. So congratulations to them. And I think it's super cool.

Jason Calacanis: And it's just an interesting market development too. Like it's an interesting, well, it's interesting to think that we're at the point where we're having conversations. It is as yet unproven, but we're having conversations about whether you can build a venture scale business, selling used stuff like that is a fascinating inflection point.

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SPEAKER_06: So you can do e-commerce. It's obviously mobily optimized. Obviously it's got SEO built in incredible 24 hour, seven day a week support, 365 days a year, but you can also do member areas. What's member areas? Well, this is where you can sell exclusive members only content. For example, let's say you had a cooking website. You're a chef. Well, you could, uh, sell cooking classes on there and custom recipes or piano tutorials. The possibilities are endless. And if you build it yourself on Squarespace, you don't have to give 15% to other platforms. Let that sink in. So I want you to head to squarespace.com slash twist, start your free trial.

SPEAKER_164: When you're ready to launch, use the offer code twist, save 10% off your first purchase of a website or a domain.

SPEAKER_240: They've got all those great domains there. This is the best bang for the buck folks. Squarespace.com slash twist. Amazing. Amazing product.

SPEAKER_241: I have a way to do it that I think these folks should go to.

SPEAKER_74: Um, I think, sorry, no, I love it. I love it when it's just like the idea, the idea of machine turns on.

SPEAKER_243: I'm sorry. I'm sorry. Um, open the hose, go, hold on. Let me just have a sip of my grenade. Grande. I have an idea. I have an idea.

SPEAKER_245: Where's my phone? I have another idea. Um, sorry. I'm enthusiastic folks.

SPEAKER_248: I mean, tell me I'm a loyal friend and I'm enthusiastic and have a lot of ideas guilty as charged. Yeah. Yeah.

SPEAKER_15: Guilty as charged. Oh, and I'm a great capital allocator, by the way, there could be worse. There could be worse things guilty as charged on all, on all counts. Um, here's a great idea. Make this a membership.

SPEAKER_16: So to be a member, you just pay a hundred bucks a year to be part of these communities unlimited buying and selling trading between parties or through the central location. But there's no transaction fees. You just put it up for whatever price you want. You pay your stripe, whatever. You can put your own stripe in, uh, you can list anything you want. You could have an API to list it, whatever. You just have to have a membership and, uh, you take all the fees out because I think the fees is what gets expensive here is the markups on these things.

SPEAKER_06: I know eBay sellers got really concerned about that, but if, you know, if you had to have a membership to get in there, then the business would be sustainable. So what Goodwill should do is they should make it an online membership for their online store of 50 bucks a year donated to Goodwill. And then you get access to everything. Or you have access for the first 30 days, something's online. And after, on the 31st day, anybody who's non-members can see it, or actually everybody can see everything, but only members can buy stuff in the first 30 days.

SPEAKER_254: Oh, that's it. Sorry.

David Friedberg: I had to, I was, the gears were churning here. You just wait right here. And here's an idea. Yeah. It would be a more sustainable idea.

SPEAKER_104: If somebody wants to build, this is a request for a circular economy.

Jason Calacanis: Like Josh got, one of our notice is saying, these punch ups and email us.

SPEAKER_263: Well, somebody just build an MVP or come to found a university with this idea. Pretty good chance.

SPEAKER_16: I'll just give you, if you built an MVP and mocked it up and figment, something like that. I probably just give you the 25 K. Uh, that we give at the end of the program at the beginning of the program. I'm doing that with an influencer who I think is incredible, has a million followers. And I was just like, come to founding university and we'll give you the first 25 K investment to quit your job. You know, we'll take 2.5% and you can go have the money to incorporate. So somebody who's a product person, I don't, don't, don't, no idea people, somebody who actually knows how to build a product. So it'd be no code.

SPEAKER_240: You can build it with no code, by the way. Mm-hmm. You can build this in bubble or notion or Zapier or some combination of those things.

SPEAKER_267: Yeah.

SPEAKER_240: Do it.

SPEAKER_269: Do it. Do it. Do it.

SPEAKER_104: Start a company. Hey, on Tik Tok, you ever have this guy who is like, he's got really long hair and a beard and he's like jacked and he comes charging at the screen.

SPEAKER_268: He says, go to the gym, go to the effing gym, go to the gym. You ever see this guy? And we've talked about this.

Jason Calacanis: I only have dogs.

SPEAKER_270: This is my favorite guy. Some other animals, but.

SPEAKER_248: It's like, I'll go to the gym, but his whole stick is that somebody holds his camera. He has his cup of coffee and he comes like around from like a tree and he starts like charging at you like a bull and yelling at you to go to the gym.

SPEAKER_276: And he's like, I know you didn't go to the gym yesterday. I told you to go to the gym yesterday. You didn't go to the gym today. Go to the gym today. You didn't go yesterday. You're going to the gym.

SPEAKER_04: This is why I got to get my burner Tik Tok. I got to get a burner Tik Tok, just so I can see all the things that are on Tik Tok

Jason Calacanis: that are not cute animals and interspecies snuggles. Here's an idea.

SPEAKER_65: Okay. What a surprise. Here's an idea. You could just text this to me. No one will ever see it. Nobody will ever see it. Here's an idea.

SPEAKER_283: So many jokes. I'm sorry. I'm going to have so many jokes about this at the end. Red flag. Red flag.

SPEAKER_286: Okay.

SPEAKER_16: Here's an idea. Tik Tok in the cloud. I will, you can offer a service for 10 bucks a month. And you can open up to 10 Tik Tok instances in the cloud, like virtual Tik Toks, create whatever login you want for it, and then start swiping and have it swipe 10 times a day, whatever. So it keeps the things active and, uh, just send them on different things. You could have one for fashion. Right. So we basically have personas in the cloud. So you could pull it up on your desktop and be like, this is my fashion Tik Tok. This is my travel Tik Tok.

SPEAKER_104: This is my food Tik Tok. And you just do 10 food searches. You do 10 fashion searches, but you just separate them out.

SPEAKER_48: That's so awesome. Just instances. Cause I don't want to create a different account and a password and this and that.

SPEAKER_15: Give me instances. Oh, so good. This is what a lot of hackers do is they will run for privacy.

SPEAKER_16: They'll run a virtual desktop on their desktop. So here I am on a Mac or if I'm on windows or a Chrome, you can pop up, you know, with AWS, like a windows desktop, they pop up a windows desktop. Boom. They have everything in there.

SPEAKER_269: They're using an IP address and those virtual desktops, then when the desktop goes away, whose desktop was it? What was it doing? I know what was the IP? What are the cookies? It doesn't matter. It's just a desktop. Uh, and I think you can do virtual.

SPEAKER_59: Somebody correct me in the note is, is there a way to pop up a virtual iOS instance in the cloud? I know you can do it for Android. I'm sure, but iOS may not let you do that.

SPEAKER_97: Well, there probably is a developer version for developers. Yes. But I don't think it would, but I don't know if you can do that to Apple.

SPEAKER_06: Like it was an actual iOS thing, right? I have to just get a burner phone. I guess it'd be the easier way to mirror it to your desktop. Um, but yeah, that's like a little spy craft thing.

SPEAKER_302: That's how a lot of spy craft works. Great man.

SPEAKER_305: Hashtag gray man.

Jason Calacanis: Um, yeah, I finally downloaded book. I'm up to book six in the gray man series. I have to literally, and I was like, I'm not allowed to open this until after like the investment, but, you know, I was like, you can't even listen to these. I'm so addicted to them.

SPEAKER_04: Okay. I can't wait to hear what ideas you have for liquid death. Sorry.

SPEAKER_32: Today's a huge fundraising news. Just bananas.

SPEAKER_48: It, this is one of those products that came into market and every, and the, and the collective snicker was heard around the world, right? Like we need more manly water. Um, and they created this water it's water it's in a can actually. So it's way, uh, more environmentally friendly than plastic, right? Forever chemicals out. Yep.

Jason Calacanis: Um, it's tall boys of water with cool design and liquid death just raised how much money? $70 million at a $700 million valuation.

SPEAKER_48: So all y'all were wrong, horribly wrong. You were so wrong.

SPEAKER_104: Um, so, you know, water in a can bees. I saw this and I was like, I drink sparkling water. I love having salsa out of a can. That's like one of my favorite things. I like the mouth feel of a can.

SPEAKER_59: Um, I like, um, well, I, I'm, I'm, I'm a glass then can then plastic probably like most people. Yeah. Um, but you know, I, I used to like to get a salsa water when I lived in New York out of

SPEAKER_16: a can and I saw this and my friend, Peter Pham from science, you know, was the, I guess he's a co-founder of it. Um, or they incubated it with another guy. This is really just about, you know, you, um, have a party and, uh, you don't want to use plastic, right? So a lot of the, my understanding is a lot of the music festivals, uh, the angle they've used is they could sell these cans for more money and you feel terrible using plastic. And again, back to like a generational shift, even our gen X, we know about plastics.

SPEAKER_06: Like we were, we were started started. They started to indoctrinate us into like this, like, don't use plastic. I now, if somebody gives me a straw, I hand it right back to them, plastic, right? I hand it right back to him and say, do you have paper? And like a number of times I've done that the person says, it is paper. And I'm like, oh, sorry, you can't tell the difference when they give it to you. I'm like, sorry, I, I don't, I don't want to use plastic and I use metal straws at home. So I think that's the beginning of this is that a lot of these festivals get to say, Hey, we, we are zero plastic. Yeah, exactly. And you know, at our events,

Jason Calacanis: you can actually report like a net zero or a waste thing. It goes into your scope three emissions. Like it's all. Yeah.

SPEAKER_06: If you're doing those things. Yeah. And if, but if you're having a backyard party, you're probably like, nobody's doing like scope three emissions report. No, but these look a lot cooler. And you feel that cooler design is cool. You feel better. And then I think, uh, on top of that, probably underreported is when you don't drink alcohol and you get pressure to drink alcohol.

SPEAKER_104: Anybody who's a young person has been through this, um, I used to order a cranberry and club soda when I didn't drink. And I was at bars in my youth and be like, what are you drinking vodka cranberry?

SPEAKER_55: I'm like, oh yeah, yeah, you know, whatever I don't drink. I don't like alcohol. It makes me feel terrible. So I have a glass of champagne once in a while. I love Clicquot, um, or like a dessert wine. Uh, and so I, I would drink that just because it would take the pressure off.

SPEAKER_104: Cause people wouldn't give me a hard time when I was in my twenties. And so I think a lot of people who will be drinking these, it's like, people think it's

SPEAKER_333: a, you know, whatever, uh, looks like something. Yeah, exactly.

Jason Calacanis: Yeah. Looks like a drink, right? It's got kind of a mocktail. Like the mocktail thing is really in right now. It's got that kind of mocktail vibe slash. You could think that it was a white car or some other hard seltzer drink. Like it really, I mean, 100%, this is a social engineering success story. Correct. Like cool branding, riding that the, the wave of environmental consciousness that we, you know, started talking about with punch Poshmark, um, and giving people kind of social comfort.

SPEAKER_334: I think also they have flavors. Fascinating.

SPEAKER_335: Do they thought it was literally still just water? That's how they started.

SPEAKER_16: And that became kind of like a joke and they wrote it. But now, um, if you go to their website, like, you know, they have like the mountain water from the Alps, uh, but they do sparkling water now.

SPEAKER_104: Um, and they have lime. Okay. Mango chainsaw.

Jason Calacanis: So more of a, like a LaCroix situation after all then, uh, some are, some are claiming by the way that liquid death is the fastest growing non-alcoholic beverage ever. Yeah.

SPEAKER_19: I think I love, honestly, I mean, compared to energy drinks, like compared to all this other crappy stuff, like great, sell us awesome water.

SPEAKER_340: I mean, yes, you can get it from the tap. Fantastic. You definitely can do that and you can put it in a bottle and fill it up and take it with you.

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SPEAKER_104: It shows you that branding does matter. You know, so like packaging and branding does matter.

SPEAKER_181: Less people don't think it does.

SPEAKER_104: So if you have a startup, you know, and Apple figured this out very early. And they said, let's just take our time building products.

SPEAKER_16: We don't have to be first to market. We should just make it the most beautiful thing in market. And the packaging matters. So Apple- Mango chainsaw. Made unboxing. Uh, so good that the Engadget team created the concept when, uh, when I was running it, uh, Peter and Ryan literally created the concept of unboxing. And what they would do is, and I was like, guys, you're wasting time. This is costing us bandwidth. Like there's 40 photos of you taking your laptop out of the box.

SPEAKER_06: And they're like, it, and I said, the bandwidth is getting crazy. You know, can you just put like four photos? They're like, no, we put it in a gallery. That's why we have so many goddamn page views. People are hitting the next button, the next button. They love the step-by-step story of unpacking it. They like to see. Like literally the Apple fans like to see the paper being peeled off the back of the whatever product it was, the iPad or whatever, and the unboxing experience. It was, and, uh, you know, now I think we're at the point where the, the unboxing, the packaging maybe works against the environmental message, but this is just great. It shows you what consumers, I, I really like to think about how consumers change over generations now that there are two, three generate the three generations really after us, um, and watching that change is wonderful, right? Like, um, I think overall. Yeah. Uh, and this is part of that generational shift is like the idea that a young person would buy a plastic bottle. They're just like, ah, yeah.

SPEAKER_325: And I did at my events, um, there are water purifying machines and they chill water and they're high pressure.

SPEAKER_06: So I don't know if we have a link to one of them, but I could show it to you.

SPEAKER_104: They're like, uh, a bunch of taps and you roll this machine in, you run hoses. It filters the water in real time. It cools it in real time. And when you pull the tap, you know, when you go fill a water bottle, it's like trickle, trickle, trickle, this thing, you pull the time.

SPEAKER_16: So it's got like a pump on it. And yet 10 taps there. And then what we do is we would sell glass bottles with the launch logo on it for five bucks, uh, you know, we buy them for, you know, two or three bucks, put the launch bottle in and people would say, Hey, can I get some water?

SPEAKER_06: We're like, yeah, right over there, buy a bottle. And then we have a Contigo for, you know, 30 bucks. We got a Yeti for 50 bucks. We got a generic bottle for $2. We wanted to put a cost on it.

SPEAKER_322: Cause then when people bought the glass bottle, um, they wouldn't throw it away. Cause like, Oh, it's gonna cost me two bucks. I have to go back.

SPEAKER_06: I'm gonna have more water. I'm gonna keep it. Right. And so I, I know the sun's really crazy too, and people are gonna make fun of me, but I, um, will travel with my Contigo and I bring some of my beverages with me in little packets. Like I have my little, um, athletic greens, or I'll have, uh, like, uh, sports strength, uh, liquid IV.

SPEAKER_55: I have the packets for, and so when I'm traveling, I will wash that out of my hotel sink, she get, you know, or in the bathroom.

SPEAKER_06: Um, and then at a lot of airports, uh, there will be filtered water stations and I'll put a liquid IV in there or in the mornings, have my athletic green, shake it up. Boom. I'm good.

SPEAKER_360: Wait, you think people are gonna make fun of you for that?

David Friedberg: Doesn't everyone do that? Does everybody do that now? Carry like a Contigo with them in their backpack? I don't know.

SPEAKER_32: Yeah. Or some kind of a water bottle and have all your beverages and yeah, a hundred percent. I mean, I don't know. Listen, I'm here in the bubble.

SPEAKER_16: So maybe it's because actually the times I've had people be like, what are you doing? Like, I think it's been when I've been with rich people on private jets and they're drinking

SPEAKER_366: from a Contigo and they're just like, what are you doing? Like we have crystal on the plane, you know, whatever it is.

Jason Calacanis: Uh, it is fascinating though. And like to have five generations, basically shopping right now, all at the same time. Right. Cause you have everybody from boomers to gen Z and to keep like, keep an eye on this, to bring it back to the startup and investment lens. Yeah, look at this next time you're tempted to laugh at like super well branded water in a can to ask yourself if there's a market there and think accordingly, because apparently there's, now this may be a crazy valuation though, lighting in a can, lighting in a can.

SPEAKER_256: Thank you. This is lightning in a can. For sure.

SPEAKER_372: Good. Thanks. Good.

SPEAKER_104: Good. Good. Good. Good. I mean, people are not gonna be able to do this. I implore you to stay out of the beverage business, unless you have a specific passion

SPEAKER_16: and a really, really clever idea. Um, the world does not need like the 10th, you know, whatever.

SPEAKER_06: Yeah. Drink. drink. We really have a really good thesis is be thoughtful ID to see is so hard. So hard like and

SPEAKER_104: by the way, this is the greatest success story ever and it's worth 700 million. You know, like

SPEAKER_377: if you were an investor, he's making some faces. Well, I mean, if you invested at this a 50 million

SPEAKER_57: or 100 million or 25 million, like, and then you got diluted by 50%, you know, and you had put a

SPEAKER_06: million dollars into and you own 2%. I own 1%. Okay, got $7 million on a million dollar investment, whatever it was, like, it's just hard to make it's a hard, it's a hard way to make money DTC. Yeah, DTC very hard. Very hard does not scale gracefully. This is and this has also been what

Jason Calacanis: is this a six, seven year story now? I think so. And it's a 3x growth, right? 3x year over year

SPEAKER_48: growth. That's impressive. Now it's a Oh, it's a three year story. It's only three years. Oh, yeah. Fastest growing non alcoholic beverage ever. I mean, this one really is a rocket ship. It is hard to replicate. However, take note of the changing,

Jason Calacanis: the changing values and the changing tastes of consumers here if you are in this space, because it's super relevant. Another thing that the Gen Z's and the millennials are super into, thank goodness is mental health. Yeah. And this is just a really interesting, like VCs and startups going really mainstream kind of celebrity culture story, mental health focused startup called wonder mind that was co founded by Selena Gomez and her mom just launched its website this week and raised a seed round from Serena Williams, new VC firm they raised them. But this is where this gets kind of fascinating. The startup just launched its website this week, raised $5 million at a hundred

SPEAKER_48: million valuation. Hold on. Spit take. I mean, oh my Lord. Yeah, I'm sorry. So they have 20, we have 10,

Jason Calacanis: 20 million in revenue. They have a I'm sorry, I'm looking I'm pretty sure it's no revenue, right? Yep, none. But it does have a 500,000 person email list. So you can see how that math worked out.

SPEAKER_104: Well, I would say a consumer email, you can actually put a value on them probably worth 50 bucks

SPEAKER_16: each. Um, so you know, that that is a $25 million asset, maybe, uh, if you think you could monetize that $10 a year for a generic consumer, maybe $5 a year, $10 a year, and five years, you could make $50 per person, you might value them at 50 bucks. If it was a B2B, if this was like, uh, actual psychologists, uh, or it was people in the drug industry, you know, a vertical B2B newsletter, those might each be worth 100 to $300 each, because, you know, they're very specific and targeted. So emails, newsletters can be worth some money, the value for each one. That's no joke to

SPEAKER_48: get 500,000 subscribers. See, look at that. Amazing. Although there's still some first law stuff here happening, right? $100 million evaluation, no revenue.

SPEAKER_57: Um, this is, uh, it's not quite Jason's law, because it's not all the way there. Uh, no, no. And they have the email newsletter, true value of the startup, probably 25 million.

SPEAKER_06: Uh, we don't know how much they make per year with that email newsletter, let's say that 500,000. Uh, and let's say, you know, it makes, um, I don't know, uh, every week, 100,000 from the newsletter, could be 5 million in revenue, could be two and a half million in revenue, if they're sold out, possibly, um, the great news about this is when you have a celebrity, uh, who has hundreds of

SPEAKER_16: millions of followers, like Selena Gomez does, or Serena Williams does, uh, the acquisition cost for some emails could go to zero. So if Serena were to write an article every month in this, uh, or a journal, like, and put it into the email, uh, or Selena did this, like, every other week, you could see that be a creative like Gwyneth Paltrow's goop newsletter. So you can use celebrity to convert and buying emails. I think most of the, um, like the, uh, Morning Brew, I think they were spending like 50 or 100 bucks to acquire emails, uh, back in the day. And, you know, then they hope that one out of three sticks around. So it can get quite expensive. Uh, the skim was the other one

SPEAKER_396: that was an email newsletter company. Oh, I loved the skim. Yeah. Uh, yeah. I mean,

Jason Calacanis: this really Selena Gomez has 349 million followers on Instagram. 349 million. So, I mean, it's not, so yeah, I mean, when you look at it that way, 50 to a hundred to $200, you know, per subscriber, the question is how will they monetize? And we don't really know at the moment. It appears it's mostly content. So I don't know if it is expected to be sort of a, people are calling it like a more celebrity version of psychology today or WebMD for people who are searching for content around mental health. And they have, um, 11, an advisory committee of 11 mental health professionals, professionals to make sure the content is accurate, responsive, inclusive, and relevant. I mean, I would say it sort of sounds like a more scientifically backed group. And we know that group has been really successful and has had a lot of product offshoots and a lot of merge integrations. And I think this is like the right product at the right time with a couple of beloved celebrities around it. There's a great subscription

SPEAKER_16: opportunity here. I've looked at a lot of mental fitness apps. It is a real thing. Um, and the delivery of mental health services through, uh, apps or the web is a real thing. Obviously, we're investors in calm, which some people use as a part of their mental health practice, right to lower anxiety, um, to be more intentional. And so there is a whole category if you want to look it up of, uh, behavioral therapies, dialectical behavioral therapy, DBT, see, um, that's, uh, cognitive behavioral therapy, basically, uh, treatments that you can deliver. The modality would be filling out a survey, doing a journal entry, um, and then doing that in coordination and better help is a tremendous

SPEAKER_06: company that does virtual, uh, therapy. And so there could be if this aggregates enough people, the ability to add to it, those type of things for a subscription, and maybe even provide mental health services. So there's like many things in healthcare, there's, um, content web MD, like, here's some content. Um, then there's services by mental health professionals. Well, what's in between those two things, right? There's going to college. There's like a Wikipedia page to get you education. What's in between those two things. And I think looking in between the two extremes, like free content on YouTube, free content on Wikipedia, and then giving 100,000 to a college institute. Well, there's brilliant.org, which were investors in that for masterclass, which were not

SPEAKER_380: investors in. You can fill in between these two extremes. So I think that would be my best advice

SPEAKER_06: here. If I was an investor in is like, what can we do in between people going to better help? Or going

SPEAKER_16: and finding a therapist and one of them might be a paid subscription 10 bucks a month, get meditation, maybe, maybe get here is a journaling product. And I get pitched on these all the time. I've been looking for an app to invest in actually, because I think people would pay 50 bucks 100 bucks a year for an app that made them more grateful, lower their anxiety, you know, a little bit of what calm does, a lot of what, uh, dialectical behavior therapy. Yeah, correct. I'm looking up, um, by the way,

Jason Calacanis: how much people spent on have spent spending recently on astrology. And I'm imagining that, but seriously, right? You look, I'm feeling like this, I have this mental health crisis, I don't know how to deal with this or that or whatever. And by the way, I don't mean mental health crisis in the sense where it's like you an acute emergency. It's just like, I feel like this and I don't know what to do. And you look that up online and you end up at like astrology apps. And so spending on astrology apps, users in one single month in the month of July of like 2021, spent more than $5.3 million on the top 10 highest grossing horoscope apps, it's considered as during the pandemic, it became a 2.2 billion dollar industry. Imagine capturing that with vetted mental health advice instead. And then all of a sudden, I am just all in on this $100 million valuation. Because people will spend a lot to take care of themselves right now. And right now they're mostly ending up at like hocus pocus. And don't get me wrong. I read my horoscope every day. I did my chart.

SPEAKER_104: You know, the cost of doing this, the inconvenience of doing it, some people don't like to,

SPEAKER_16: um, you know, go to therapists, listen, if you're in distress, and things are not going well for you,

SPEAKER_55: go get help, of course. Um, and then, you know, if, uh, let me see if I can find one of these, I'm

SPEAKER_59: giving my producers like, some of these worksheets. But here, you can pull up those two worksheets I just sent for the audience to see if you're on youtube.com search this weekend, and there are all these worksheets online. I can't you actually see this one on my tiny teleprompter here, but

SPEAKER_15: surfing a technique for managing your unwanted behaviors.

SPEAKER_57: Right? So this is cognitive behavior, the school of I was, I was going to be a PhD in psychology.

SPEAKER_06: That was my dream. I was wondering, I was going to be a clinical psychologist or go into forensic. And then, you know, after my psychology degree, I got derailed because of the internet. But anyway,

SPEAKER_178: this whole school of thinking is really interesting. Some people, they just need to have the tools to know

SPEAKER_325: how to deal with adversity in their life. And they give these to therapists, or they give these to groups, there are group settings for this kind of stuff. And it, you know, there's deep psychotherapy, which like that requires a lot of skill, a lot of training. And then there are, you know, again, that

SPEAKER_06: between the extremes, going to like doing deep psychoanalysis, or, you know, deep therapy, or whatever, whatever therapy modality, you choose, there's a bunch of different schools there.

SPEAKER_325: Um, there could be worksheets that you could do, there are self help books. Um, and you could productize these, I'm surprised people have not productize these, I've been waiting for somebody to productize this category. Um, I think part of it is, like, giving this kind of help to people without, you know, having a therapist in the room, maybe

SPEAKER_16: people are concerned of, you know, on outcomes or something like that. But, uh, yeah, I could imagine

Jason Calacanis: that I think I'd be thoughtful about it, promising these outcomes would be, yeah, exactly. But what we're seeing, well, also, I think people just haven't seen it as a money making industry, because there was so much stigma around it, right? Like, we are actually at a real inflection point where

SPEAKER_16: it's possible that this could be the most time, you know, it's time for this. Yeah, yeah. People will pay for it. Um, we started journaling companies, a lot of those, and that became a thing. So and I just met somebody I was at, um, I was at the Tesla AI day, and somebody came up, oh, I'm a huge fan. I worked at this big, large company, I just quit to do an app. It's reminding me, I got to email him back. And he had a really good idea, just, you know, for helping people with a very specific type of, uh, emotional state. And I was like, wow, that's, I really interested to see where you go with that. Like, I would pull that string, um, and see where you go with it. Because yeah, I think you could do a lot to help people, uh, in very specific verticals with very specific techniques. Um, and just educate them on what they're feeling, right? Uh, and I think this can be done without, there, there are aspects of this that can be done without an actual therapist with the

SPEAKER_06: disclaimer. Hey, if you're, you know, uh, in some kind of acute situation, go to the emergency room type thing. Uh, and I think society is kind of getting a little more used to empowering people with information as opposed to, you know, having to go to the doctor every time you have some experience, right? You don't have to call your doctor for everything. I think there's probably

SPEAKER_12: things you could figure out on your own. Well, there's a shortage of every single doctor,

Jason Calacanis: right? Like we should acknowledge that part of the whole part of the gap that this fills is that people can't get access to mental health care right now. Like sometimes, you know, literally can't find a therapist. Like if you're in California, I think they're all the entire,

SPEAKER_48: like all of Kaiser's mental health staff is on strike. Okay. And, and every therapist in America is completely overloaded because everyone is having a crisis. Like this is really, yeah. I mean, I, I have

Jason Calacanis: like, you know, this, but this is why I keep listening to all the way to the end of this show, because despite where you start, when you say a hundred million dollars and you spit out your tea, you end up like, are you guys still taking checks? Because yeah, I mean, here's the good news. Well,

SPEAKER_05: I mean, the good news is like, they're gonna have to fill in that value, not investment advice,

SPEAKER_57: by the way, not investment advice. But I mean, if they were, if they were tripling revenue, and they did,

SPEAKER_16: you know, 3 million this year, and they were on track to hit 6 to 9 million next year, the valuation might make sense if they had done 1 million, 3 million. And it was looking like they were going to do 9 million next year. Sure. Yeah, I don't think that's the case here. We don't see the revenue yet. So pre revenue, right now. Okay, so if it's pre revenue, it makes no sense. But the potential is there for this to be doing, you know, a couple of million dollars from the email newsletter alone, you know, starting tomorrow, if they have 500,000 real email addresses on there for a consumer type

SPEAKER_59: email, consumer emails, need to hit millions, B2B, 10s of 1000s to make millions for obvious reasons. All right, great episode. Fascinating. Thanks for tuning in, everybody. Thanks for bearing with us

SPEAKER_48: through the awkward parts tomorrow. We'll get less awkward when this is all over. I like, cannot wait,

SPEAKER_04: we should just, we should just do a day. We'll do a day long debrief. Ah, yes, that'd be so great. That'd be amazing. We'll call it therapy. Um, stay tuned to our

SPEAKER_48: tomorrow. We have a new series starting. Oh, which is going to be freaking fascinating. What is that the 2022 edition of the next unicorns? Ah, yes, there could still be unicorns companies

SPEAKER_16: could still break out and become very successful. So we're going to find companies that, you know,

SPEAKER_104: we think are in that 100 million to $500 million valuation, you know, have gotten to that 10 or

SPEAKER_16: 20 million in revenue, and that they could be the next companies that'd be worth billions of dollars. And then obviously, if that happens, they can be companies that could eventually become publicly traded companies. So we like to do this every year, try to figure out who's in that in that group, and we actually need to go back and we should get this week in startups.com slash next unicorn set up Nick. And we should put a list of all the previous companies with links to their episodes.

SPEAKER_06: If that URL is not up yet, when you when I when you go to it, we'll have it up in the next day or two.

SPEAKER_240: But we should actually see if they did become unicorns. That'd be good to look at our track.

Jason Calacanis: That is awesome. We should totally do that. Well, tomorrow, we're going to interview a really interesting founder in a field related to investing your personal money, which is, again, so relevant to all of us. It's the it's the disintermediation of everything. There is no more expertise. There's

SPEAKER_443: just like DIY DIY with some online health. It's gonna be fascinating. All right. Stay tuned.