TWiST News: Venture-Backed Defense Startups, Anti-Drone Guns, and Querio's AI Data Platform | E2048
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Aren't everybody welcome back to this week and start of subjects in calico is and Angel investor and podcast host here in Austin, taxi ates to say silicon value last year and not in texas. And with me, my cohoes ots will home how user I am.

fantastic. We have an amazing run down today. Yes, we also have indeed earning after the bell is going to come out, of course, after we record this, Jason, but I just bursting with excited. I mean, this is gona be, I think, the earnings report that released at the tone for the next couple of months is going to tell people where we are on the bullish inst high cycle for ai. So i'm kind of counting down the minutes right now until jensen tells us if there is going to be Christmas in technology or just call in our stockings this weekend.

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Um and the data .

the data center revenue is twenty nine billion of that. If you didn't know, invidia used to be a company that made graphic cards for gaming. That was basically their business.

That's what they we're known for. If you were a video game nerd, you would sit there and you'd buy an in video card if you wanted get your frame rate up. When you were playing a dust top game somewhere along the line, people took those G P graphical processing units and started using them for crypto currency.

So then they had two line items and cypher currency. I think for a time, eo was driving the stock, those two little businesses that was their tam total adjustable market, and going to talk about time a lot because they just saw a great clip with bill girl talking about time. I think we will put that for tomorrow, but that's the industry term for, hey, what's the market I are going after and you can do all kinds of fun things once you know the time, the time of gaming and the time of crypto.

Well, you can kind of figure out what the total addressing market is, how many customers are, how much should they are willing to spend? And then you can do interesting things like who has a certain percentage of the market and then how much is the market growing year over year. And that can give you some ideas of where the companies going. Why is this so flood, alex, when IT comes to looking at in video at that time, I know we're gonna to .

the uber example tomorrow, but i'll just kind of use that for everybody. One way to think about uber back in the day before was big with small was to look at the taxi market and say, okay, the taxi market is x dollars. Uber will get thirty percent of IT.

So its revenue ceiling is why dollars. The thing is, a really good product makes the market much larger. Uber made the taxi market larger. Iphone made the smart for market larger. A so if you have a technology that breaks out, for example, invidia GPU in the data context, you can suddenly go from a company doing a couple of billion a quarter to dozens of billions a quarter.

right? And I call this market manifestation. Um and I got that term from induced traffic.

You know remember when I lived in los Angeles, they would always be ending of lane to maybe like, you know what, the four or five is getting a little congested here at the four or five in the ten. Let's add some bigger of rames. And he did these spectacular ops. And I remember reading about IT, alex, these, we're going to change everything, these off ramps instead of one lane getting off in a tight to, uh, turn, they were gonna two lanes and they were gonna a giant White turn onto willer board or olympic or sa onic boof art. So when you got off the four or five, instead of having, you know this, a little quarter mile circle of one lane with ten cars in IT, the twenty cars, you would have a mile with forty cars in two lands, you have eighty cars getting off instead of went from twenty cars in of eighty. And that would make the traffic locks, you can get more cars off quicker into that you to get on to send A A over.

But yeah.

people started to realize, hey, track on the five and easy breezy. Maybe buy a house a little deeper into the valley. Get a little more bang for my book, those, hey, the forty minute commute, I can go in extra exit or two out and it's kind of reasonable so i'll get the cheap perhaps or hey, you know what?

I love the restaurant and the mona live in the value that and I to go to a restaurant, IT would induce more traffic and IT never ended. So that's what uber did. In this example though, in video became the choice or doing large language models that inference, I guess, on the margins as well.

And these eight one hundred uh servers just started doing bigger and bigger machine learning tasks. Large language models come out and suddenly ever been the tech industry, sitting on mountains of cash, realizes, hey, we can buy anything. So here's the other trend, right? A raft of con, which is coming to an end, a raft of lea khan said, no, M A had means to always cash counter.

Nobody is buying whole foods and nobody is buying, you know what's up? So what you can do with the money you might as well built servers. You might have to stand up to serve the forms could use thread, maybe a stock buyback.

And that's when twenty nine of the thirty three billion dollars that in videos is expected to announce tonight is going to come from data banners. They just let that sink in. Ninety percent of their revenue now comes from a product to a business line, which was not really on the top of people's minds, but five to ten years. And no, correct.

Oh, absolutely in court. Can we get that table back up on the screen for a second? I want to make a make a point to underscore what jasie is saying here, which is that the scale of invidious revenue, I think kind of excludes are hides how quickly IT came to be because you hear that number, you think OK well.

How long to revenue does apple do or does microsoft do whatever? But just if you look at this chart, just observe the from the first quarter of the fiscal twenty four to the second quarter of fiscal twenty four, people not watching the video a in video the day is in. The revenue went from four point billion to ten point three billion in a single quarter.

And then I went to four and a half eighteen and a half twenty two and a half twenty seven and then which to be thirty. That is still accelerated ating. Jason is still getting much bigger very quickly, and that's why I think this only important matter so much.

There's a lot of enthusiasm right now in the market in a post trump context. The lennon tenure is coming to an end. There's still a lot of investment hype and a lot of exciting about what's going to come. The vibes are good and other, yes. And I think the invisible either .

maintain that or really heard that ah so give me the case for hurting the vives what could cause you know. The staff attend, what could cause people to lose faith? What would be the narrative, or the or the vibes that can make the will go? You know what? Maybe this is a overhype in coming to an end?

yeah. So I think two things there. One, if the company just meets expectations like i'd believe we saw in the proceedings quarter, we can see a stocked drop, five, six points.

Again, people are expecting a beat. This is the company is on gross. It's expensive by a couple traditional metrics. People really believe in that. So it's been valued as such.

The reason why I think I can harm the vibes if IT misses or just barely meets expectations is that implies that a lot about the rest of the industry in videos S E, quarter to quarter revenue numbers, Jason, are a proxy for the investment that big tech companies, the hyper scale ers, are putting into their data centres, which are proxy for market demand for A I models, A I inference, and essentially just the health of the A I economy. So in videos is kind of down the pipe a little bit, but I should tell us what's going on upstream, and it's one of the best indicators we have. So that's why I think IT matters so much for the the software .

picture of that founders. Do you want to sell to bigger customers? I know you.

Do you got to get that A C V. Trending up and you won to push your turn down? right? Sounds good.

But to sell to those big buyers, you need to clear all of these compliance checks. You know that that means you got to have things like sock to sort IT out what sock to. It's a standard and ensure that companies keep their customer data safe.

And if you aren't sock to comply in, you can kiss those big deals goodbye. You're not going to enlighten customers. You're not going to be able to Operate at the highest end of the market, but vantage makes IT really easy for you to get and renew your sock to compliance.

On average, venture customers or compliance institute for a week can take months with venter and the automate compliance for gdpr, hipper and more so you can sell to bear your customers in whatever mark up your start up is going after that gona save you hundreds of hours work and up to eighty five person of compliance. Stop slowing yourselves, team down and use venta. Get a thousand dollars off advantage documents like twist venta documents twice for one thousand dollars off your sock too this quarter. Are they on a fiscal quarter or they on a calendar quarter? And curious, this is q three fiscal twenty twenty five or twenty twenty four and twenty five?

yes. So this is we're in there are fiscal were in the next fiscal year a bit like microsoft there. They're offset by couple .

of quarters got okay. So this is um you going to be really interesting. We've never seen a company grow large amounts of revenue in this way.

The last quarter was thirty billion, giving them saying that and the year earlier for q two was thirteen billion. So they more than two times their revenue that quarter to that quarter q three, last year eighteen billion, this year thirty two. So it's going just under double, right? So this a crazy growth is slowing, but it's still nike ant.

And we talked about before on the program, there have been a bunch of people looking at ground tripping as a technical era, as a technical term for self dealing or insider. We transactions they invest in a company back company by servers with h in videos, money. But those numbers were kind of small.

Then there's accounting issues. When do you recognize revenue? So on one of the revenue here, my understanding is baked in because somebody will put in in order you have a company like x that A I you won x company, they bought a lot of each one hundreds.

They stood them up incredibly quickly. Okay, those all got delivered in a quarter, but they probably have future once coming in. And then you have people like amazon, apple, google and matter probably programmatically buying x number per month.

My understanding is jesson's approaches. We just take your order and we fulfill orders in me when orders are received, but I don't have the money works. Do they get the money ahead of time and they get to sit on IT? IT would seem like they have the unique ability in the world to dictate terms.

And I wonder if you know how much cash they're sitting on now and what they require in terms of people giving the money in advance to lock in those one could argue that they could give people two options. One, you put a ten percent down payment on your in the cube, you want to be in the V, I, P, Q, you, you put out a full deposit of hundred percent, and you go to that that. So I would run the company with two cues, you know, whatever, twenty five percent down q and then you get stuck after that. And then the priority q which is you you pay a hundred percent of front. I don't know exactly how they do IT.

So i'm i'm looking through their a last quarter earnings because again, in people recording this right before the the q 302 five numbers。 But if we look at their differing revenue, which this I believe, is where they would put, uh, prepaid contracts, essentially, it's not that much money. It's actually um at the end of the last quarter, just one point seven billion dollars worth of revenue. So to me, that doesn't imply that there's a lot .

of shakey .

going on here. And i'll just point out that the investing community court, if you can have that a table pulled up with the investing community is not concerned about this. A, as you can see from here in video, is once again the most valuable company in the world beat in apple beating microsoft, beating alphabet ating, amazon beat anko, beating Better.

So while you I because word nerds for financial documents are a little concerned about possibility of Brown shipping or what to do with the B. C. Fund as humans.

And last time ah the street doesn't care. awesome. Uh, okay, so we are going to get those numbers and will have a live show tomorrow, thursday.

Uh, because instead of doing a friday showing taping all in on friday to get you all in on saturday, but we moved up this week, start up thursday. I I don't have to take two the odes in one day, which is exhausted for me. What I did is great. It's like to work out to a day too much.

Whenever I do two records in one day, I walk into the house afterwards and my wife like, what's wrong and i'm like, I had to talk for three hours and she's like, you put that he is is very tired.

Well, it's mentally um stimulating. Uh you and I get to have a conversation here but all in had sometimes tips in from, uh, just a conversation to just outright sparing in an a cage match, special things like ukraine come up or trumper, whatever political discussion so for me this is like a delightful conversation that can become a little bit yeah spicy, let's say and then try on that when on the moderator here, you get to play a little bit more of the moderation role here and I get to kind of shoot a little bit more here to card and we do the pick roll over there. I'm doing a little more point carding, which is also exhausted. Yes.

it's much harder. People have asked me, do you prefer to be a panellist or a moderator? And the answer is so obvious Peter panellist is great to show up with your shoes on tig can sit down some put a miking new year you should use .

the passive all you should yeah man, coming down the court having two guys. Dt, you and you're trying to zip around and get somebody open and you have to keep your entire powful vision open. hey.

Where the opportunities for other people to score takes a lot of work. All right. So that's in video or let's move on and anything else we should be looking for there .

or anything notable or just deep dive. But that's the set of play uh, at for four P M. Today from the lesson OK. Jason.

with the number one thing I want to know just as a project here is when does NVIDIA have a competitor? This is my big question. When do we think it'll be a disruptive competitor? And you'll see a leading this is what I am looking for, a leading uh company, a leading customer, one of their lights customers.

Let me say that way, when will one of invidia slights customers as a technical term in our industry or customer so pronounced that other people are guided to your product because of IT like the lights, guides people to sure safely having X A, I or having OpenAI or having amazon web services as your customer that would guide other people to the safety of N H one hundred radio. sure. So when does the White house customer flip to another problem? That's what i'm looking for.

That will be the disruptive moment we should all be looking for the NVIDIA, and we will come first in the in the in the form of an announcement. Then we'll be a startup um that tries IT and gets a lot of attention for doing IT and then they'll be a competing cloud computing offering. So look for that little coward that when you know the invidia story is gone to have complications yeah well.

once I mean just a big at twice five hundred company echt. They're making ships that are literally purpose built for the transformer architecture for alms, which is a wager, by the way, on that maintained its primacy in how A M models are built. But I love IT because if they're correct, they're na be a huge company.

And could, to your point is and snacks s and real market chair. Um I don't think we'll see hyper scale ers stop buying in video ships altogether. But I saw I would mind your what to look for by saying when does the when does the lights customer for a video I started by large amounts of a competing chip. And of course, amazon has its training two chips coming out. So there is some other names on the agenda.

Uh, just before we get to I guess though I want to talk about uh A I training and in data because there's a little bit news here from the twenty five hundred and it's that I don't think we actually got to this on the show, but told bit one of two companies that we added that are dealing with building a marketplace between control providers and a models that want to use that data. Raise a series A, A twenty four million dollars. Series a quite large. And they said as part of that, that they have customers, they have data and the AI companies on the playground progress there pretty good even also uh prod A I A new company to me back by mayfield, uh just secured one hundred and. Um because it's doing the same thing.

The U K. A.

I yes.

ada being your share of something and your ability to buy those shares in the future, does that determine use here in the valley? So fair compensation and credit for continus in the age of A I. So this is not da as in you get view ten percent of a startup, you get to buy ten percent of the next round.

This is compensation for continuous. This is amazing. We need to have attribution.

We need to have citations, exactly as I had set on this very program, I think two years ago. At some point, stations will be required and permission will be required. Citations are in the latest version of ChatGPT everywhere. Complexity has always had some of them.

And in the new search product that, uh, ChatGPT warms our open eyed doing their search feature, they have some citation, some of them are buried some so um I think this is what we're seeing is the healthy evolution of the ecosystem. And what's gonna to happen is the untrained ing of model. So if you put red IT in your model, when you build your next version, uh, you're gonna need to make sure that all that content from reit is taken out somehow.

Technically that might mean, you know yeah, I mean, h how do you do that? It's a it's a technical question. I'm not sure how much how much of a new version of ChatGPT relies on what was previous on.

And so yeah, I don't know the answer to that. I know in some models, they just start over. They have all the data sitting there.

So then I would just be like we would be the equivalent of having a library in going in insane. Okay, take all the Stephen king books down. Take all all the token ones that we don't have the rights to those.

Take them out of the library now, open the library to customers. But if all the knowledge is already suck in and it's got IT in there, I don't know how you ricket rip out. That's scaffolding.

That's a really good question when we have these companies on the pod. One thing i'd like to institute here, if somebody is good enough to be on the twice five hundred, let's have the founder on the pod quit. Yes, IT to five hundred is our attempt to identify the top five hundred private market companies.

Now an easy way to do that would be to just look at market caps and put in all the unique we're not doing there. You can sort the twenty five hundred, which is built on kota to about I O slashed quest, I think, and you get some sort of free. We didn't pick them because they're a sponsor.

This podcast. Um we didn't because it's a really great tool. We're doing something like this, but it's a database you can go in there. How many companies are we at right now?

We are about one hundred and ten and did do a snap. I'm redding.

Be I going to slower than I would like, but maybe this will will be our q for entity. Your project is is to rap up here. Somebody had a baby, and I think has been having a little less.

So we've also been doing a lot of shows that true.

We have been hitting four of i've shows in a week, which I never thought was gonna happen. But next year it's going to be precious a week. The salty hates me because i'm turning down money for that fourth, fifth shower a week. But I just, you know, I wanted to three really high quality shows a week. Let's get that dial in and then maybe we can both get some sleep, right?

Let's we know we have a speaking of guess yes uh, and you can check out twice five hundred twenty five hundred com when I check that out, there's a submission for and they don't email the house team and asked them to put on the twenty five hundred and people selling the ads. If you go through them, it's probably going to be worse for you. That will be like a minus one because we have a chinese world A A wall between the but there is a submissions form, and there do not think anybody reads IT.

but there is a some mission. He goes to one of my email. I believe I will.

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Let's talk about our our first because there's a company Jason called Allen control systems. They call my eye on redit because I like things that go boom. And then I turned out that they are a venture. Bak started .

up and read money, I believe. Member, or maybe two years ago we were talking about, would you back a company? And I remember sex kind of waffle a little bit at that.

They answer the question. And then I found out he actually had, but he had yet. And Steve, uh, is here. Uh, welcome to the program.

Hey, thanks for .

having me.

Yg, guys recited, all right? T, I, you go, Jimmy. E, your guy.

Jimmy jam. D, is the greatest. I grew up on the same crew. He went on a with my brother to join the M, Y, P, D. The three of us, we're going to go on at the same time write. As I was about to join N, Y, P D, I got accepted to for them at the last minute.

I went at night and there is where, like the changing cars, the the butterfly effect happened and that Jimmy is the man Jimmy is the guy and he does all my security and is awesome. Uh so tell us a little bit about your company. What are are you trying to do here? And um yeah I think .

fundamentally we're trying to change the battle field economics. Um so electrical systems we make uh autonomous gun systems and so these are guns that can point and shoot uh on their own. So the Operator, the the soldier only asked to give a command of what target they want and then bull flog and you see here will actually do do the rest and i'll slew to .

the target and then fire the shot wow and IT is an actual um assault rifle. Looks like that's been mounted. So you don't make the gun, you use an existing gun in the world. crack?

Yes, they were using a standard m2 sad fle a standard it's a standard army。 A gun that's the most uh unit is a very widely distributed .

gun yeah so you don't have to worry about the maintenance of those guns are building them. They exist in the world already. Is that a fifty calibre on this one?

I'm seen that the to forty would you have a coverin coming? So what we make is we make all the steel and we cut all the steel. We make all the circuit, the motherboard, the motor control board, all the circuit cards are custom, and then the software, everything but the gun, basically.

Yeah, because, you know, when I didn't my tours, alex stolen vallet. I used to mend the fifty in in my dreams. I man fifty .

junior in that one movie .

I also black, walked down. There were yet man the fifty and john the killing. My good friend was a Greenberry. He's to men the fifty Calebar alright. So you have this um existing a soft rifle. You build a container for IT and then IT has a lot of ai and this is not used to go out and kill humans in the field. This is used for defensive purposes today, correct?

yes. So we are starting with the hardest st problem, which hitting the fast moving small drone. Um obviously IT is a IT is a gun system. So you know, the army will use a for multiple mission sets. But fair is the primary concern right now.

I am really cares about just the sheer volume of this because i've actually shot machine guns before, once at one point, for example, and they are just so indescribably loud. And so i'm kind of here is, does that at all back? How you design stems after john's? I presume you to be healthy until pull gr. But all my god, once you do, Steven, they're just insane. Yeah.

that's a good point. So our system is designed to be passive, meaning it's using cameras to find the drones. So instead of a radar detection system, which is very loud, the enemy can see like someone using active radar, and then they can hit an artillery charity or truck. Our system with just a cameras, you know, before you fire the shot, you can hide. And so the path of nature of IT is really good for force protection.

okay. And then does that mean that is optical l based? And if so, does that mean that you have issues in rain, snow sleep? Is this a fair brother system?

I know I should work in all weather in at night time. We use e electro tics and I R sensor so able to see at night as well. Um you know obviously, if it's really rainy out, that can be a problem, but that's also a problem for many other weapons systems as well.

Let me ask a Candy question here. How long did they take to develop this system just in quarters or month or years? I mean.

this was a solid eighteen months to get IT to where where the government is buying IT. Now I would say it's another eighteen months, you know until it's like the best gun a on the market that you could buy like I thought it's it's gonna be it's already the most accurate gun in the U. S.

Right now. Um but IT will be incredible. You know another year or two but yeah right .

now eighty months. So the reason I ask that question is there are bad guys in the world um and if you're small teen at a startup p can build this in eighteen months. Is there are there versions of this that have been built with the benifit ious players, terrorist organizations, bad actors in the world that you have become aware of and starting the company?

Not that aware of this is the I I do survey the market pretty often as the start of C E O. Uh, this is the first gun that is putting, uh, like a one or the couple bullets on a drone at any two or three football fields away um so there's nothing like this on the market. Uh, there will be I mean, obviously anyone can build anything.

Um this does take a lot of money. Your obvious ly fortunate enough to my last company to door dash, which helped fund a lot of the initial was called b bot, was an online ordering point of sale company actually backed by craft ventures. So made them some money when we saw that for a good amount of money.

So you went from point of sale to pin point yeah .

well before .

before before that, before the restaurant technology, I started my clear in the U. S. N.

I was I was A U S. Naval officer and actually look Allen, my cofounder company called Allen control systems. I named IT after my my friend um I met him in the name. So we were we worked in the nuclear to um called naval reactors navc OA. So we were the headquarters for the nuclear navy.

Oh wow. So the um we I know submarines are powered by small nuclear reactors.

Yes yes.

So we would train all the airport.

yes. So we saw we always see saw from cradle to grave the nuclear reactors on the Carriers and the submarines and we trained .

to the fleet and had Operate. May I ask A A dumb question um to whose team we have big debates about small modular reactors and safety of them. Our military are, there are dozens of small nuclear reactors, I believe, on some marines. And the correct yeah yeah are very .

powerful reactors on the submarines.

small in the sense of volume. They are not the size of the giant, you know, spiral hoes that we see on the landscape. These are the size of a conference room or ten conference room.

How size of like a conference rooms? okay.

So it's the size of a couple of attractive trailers inside one of these larger things, and they are safe as they are ever been an instance where one of these dozens .

of them and neither or reactors we would say we've had um in our seventy five years of Operation, no reactor .

accidents. So when you hear people you know hand ring in coveting ing whatever about nuclear actors due to pound her head into your desk.

I well i'm a strong component of large scale commercial reactors. I think those are the best. I think we need more of those.

And the small modular reactors, they look promising. There's not started doing IT. IT seems safe. They it's not where I would want to be like if I was investing my money.

I want to be in the big reactors scale a is a super .

efficient and they can pump out a lot of power like people are afraid of him from. It's a public perception thing um how that is a little afraid of but you can put these in far away places and you know run the power. So I am a big reactor guy. Uh, the small major actors are still I still think it's to be seen how they play out and that .

I stand still. I want to go back to drones because .

we ve been talking about any topic, by the way we go. I.

you're a good guest.

I D, so first of all, opinions on the new oppos album, and do you think theyll return to the real death metal .

roots of the band?

Everyone .

should be able to come. I did .

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Steven um Jones warms。 So we've talked to sky dio. We've talked to other people that are working on both uh, in the air and underwater drones, and they are talking about swarms.

And when I look at your system, super cool love of technology seems to be able to had single target. Is IT applicable to drown swarm defense? Or is the more we're going to get a spare, we and straw is flying over.

This is meant for a drone swarm. So IT IT will do coordinated fires. So multiple blocks, the bullfrog itself, can turn three sixty degrees and point straight up in the air.

So imagine if it's on IT. If the bull fox on a braddy tank, they can do a full protective bubble around the tank, and the IT shoots very quickly. So we think we can shoot up with one bullfrog up to like twenty, drowns in under like fifteen seconds.

Yeah, I know and so, but it's going to take multiple bullfrogs. And swarms could overwhelm mt, that is very true. And I think that we will see like ten thousand drones coming out. Something you really need a lot of guns um and maybe some elder defense for electronics fair something else like that.

Well, here's the good news. Uh these things i'm gona guess i'm gonna guess the Price .

here five hundred .

thousand dollars per uh.

three hundred and fifty thousand fix plus.

exactly. So I the reason i'm becoming an expert on this because of a podcast you understand and we had another company on recently that's making uh, out of provenance road island, uh unmanned basically torpedo s um that are only seventy thousand compared to like what they would Normally cost. So you're part of this new generation of instead of doing costs plus hey, you make IT, it's got a good margin in IT. Maybe there's a madness contract or software license to you to keep some reoccurring revenue command, whatever, but they are make a bite and ties and if you lose five.

who cares? Yes.

you're disposed at three fifty.

exactly. It's a very good Price point for them for this kind of exotic technology. And yeah, we hope to get said we're trying to bring that cost curve down. It's so important.

Yeah, I was going to the broadly point because broadly are A P, C is right, not versus text. Is the army tank.

the big army tank? I thought .

there was the brings .

uh yeah the abms the abrams in the brother I think are both h .

and I did not .

mean drug to N B T S S A um but but the point is that their mobile so if I had um a inventory division saying I had several different we other track vehicles, I can essentially bring full on drone defense with me for our entire cohort of troops, I presume, to any climate. So does this negate the the drive we've seen towards more drone based warfare versus human driven warfare?

I think yeah well, I think when our product really hits the battle field, we will be soon. It's going to uh dramatically change how F P, V makers think about their companies. Um we're about to make them prety done. What's an ffp v dra small first person drone like we're going to first person this. Actually I have one here.

Oh yeah, yeah. Those are like the standard D. G.

I. Yes, yes. These are like, you know, companies are trying to strap bombs to these and then fly them at our tiller. Brave is like, the smaller the abms is, the bigger tank, or right braes tank life.

So you send one of these with a grenade on IT or something a little bit more yeah, you drop IT or you come a cause, right?

So exactly. And so we're going to be neutralizing that threat. And I think that the journ makers are onna have to respond some way because it's really hard to know mitigate a bullet hitting.

Just about to say you put armor on that thing because one, you put the form in the gate fifty couple, it's going to be too heavy to fly yeah. And two, I mean, he wouldn't be manuvers able IT would be just a break in the sky. So I will be easier to shoot that point. So is there way for them to, like, see in coming bullets and then go.

we are to give the drone maker, select the start up, like neos doing the swarms and lt t cheap fp byand, it's incredible. It's an incredible product. Um I I usually like IT are actually doing a test in A C S verses Andrew next year, their arbol for adverse, their trunk swarms, their belts. Um hayes and so paper .

this should be a great as we can start up paper .

there's sult sult .

this is its supersonic or no no thanks.

I nit. But IT is very fast. And so this thing is they're gna try to see if they can get through bull fog and blow like a cyber truck or something and will will do that competition again. I I feel very strongly about how we're gna perform because if you attach any sort of payload to bolt, IT can't move as fast as IT shows in the video is like, yeah, if there's a four kilogram or three kilogram bomb on IT like it's a sitting duck for a walk frog. I think.

well, I think what's gonna happen in these cases and going to take a guess here is it's going to be about kind of like the r dome in israel, is it's just what percentage can you take down with the bullfrog and then how many can they send out once and can some slide through so this is just gonna correct me if i'm wrong. How many get through the net? How many yeah yeah well.

there's a couple of things we are doing there like um so our company strategy is to make a family of autonomous guns so big frog is a mock calibre M S one thirty four mini gun. Sort the gatling gun version so the gatlin gun can do like three thousand rounds a minute. So imagine ordinated gt. Autonomous gatling guns and we're going to put a lot of lead in the air. IT will cover the sky.

Chee, I am a li .

is cheaper than a drown and a drone, cheaper than most other things in the military world. But we're really looking back down to kind of.

Dollars for kill here yeah and what happened what we really at the insight really from luke, my co, the brains behind this is that it's the control systems that other companies called Allen control systems. We just found a way to put a bullet on a small drone at three football fields away yeah and IT was just a it's a very hard problem that we're happy.

We're very now you to put this on snape or rifles. I take IT at some point to get people further away.

Um so at the longer range is where we're doing is a thirty millimetre changing. So it's like a it's the push master by north of german. Um my dad is the north of gmn for thirty three years. So I I .

grew up around .

the prime contract in yeah just right.

So what does this say about our military and our ability to compete in the world? When we take capital, al ism, entrepreneur ship and unleased on the military industrial complex, what is this mean for our ability to be the most important military in the world?

Yeah, I think this actually, really, I think about this a lot, this question because if if you didn't have the background, me in lud head and then you hadn't sold a company for a lot of money, you won't we wouldn't been able to like, get the capital to build this product. And I think this is a huge problem in the U. S.

Right now. So there's a lot of smart people than even that are in universities that have great ideas like bullfrog, but they can't even really get started to like help the military with these new innovations because the capital h constraints to get in the amount of capex you need is so high. Um so I kind of I think we're missing out on a lot of new type of weapons systems that we should be building. And the government is not capital allocating til like new innovation like that, that much so like without I really know what the U S. Would have done without like the situation you can I just found ourselves.

And to able to do this, we do have a the venture industrial complex. And I think the venture industrial complex combine with entrepreneur s taking on the military industrial complex or at least creating uh, A A little bit of competition on the margins is going to be transformative. And if you look at any top down government dictatorship site and referring to they can move quickly because they can, in slay of a million people, put them into factories like the chinese are doing with wagers, and say, you make a bunch of sneakers or drones, or, you know, landmines, they can do whatever they want to, to the innovation and the drive of free men and women and capitalism. I know why we are gonna in and agree one hundred percent.

Last thing on that is just that, venture capitalist, this is a one area where that really bail out the government on out without A V, C. community. We would be really part behind .

our enemies for the venture capital community. This is exactly who should be doing this because its risk capital designed for rewards and design to build Better products and services than exists.

If the government were to award those people at M, I, T, or you know, whatever engineering school with just a grant, they would not move as fast than a company run by you or proper lucky, or iran, or you pick your great entrepreneur because they wouldn't have the drive and the competitive nature. And that is what is missing from government allocation. And capital allocation is a competitive sport, one of the great, under appreciated things.

People like David sacks are competing against skua, competing against why combatants are firm, were all competing to get deals. The founders are creating a marketplace for us to compete for deals and play the highest surprise and to keep the stock Price growing. All that part of great american capitalism, which at its core, it's competitor is very competitive .

or I am very i'm i'm a big competitor yeah that's why .

you're able to do this in eighteen months. If you were working at a school and you had self selected into a university, academia, the people giving out grants, you would not have the urgency of doing IT eighteen months. It's the fact that you gonna run out of money in four that made to get delivered in A T.

You need a pressure IT.

I'm curious about the the, the manufacturing elements about this, because we're talking a lot about american capital, american general, american defense. Is the supply chain entirely domestic? And is that possible? And then also manufacturing, how domestic is that?

Yeah we going to be doing this all in america. Um it's mostly uh, currently in america. And the thing is like right now, this appropriations, I do a lot of the lobby and I live in D.

C. I do a lot besides fundraising. I do a lot of the loving and work we're working with congress right now, some of these buildings.

I mean, this is great, although I, alex, because you and I talk here are all the time on this week start ups about job destruction, americans who are out there, you are thinking you are going to work in the marketing department toward communications or whatever your degree is. Maybe even a developer, you know, maybe you need to actually go to a factory and assemble something in the real world.

And that has gonna create so many jobs in amErica that we're gonna look at this anti immigration kind of moment in time and think radios and know nobody wants violent immigrants in the country. We need another hundred fifty million people in this country in order to a man, the factories to stop these factories, to make these weapons, to make iphones, to make cars, to make rockets. Here in america, we need to be on, uh, an amErica five hundred program, five hundred million citizens. Now we want to do that correctly. I don't know, I feel about immigration, but I do think .

you're going to have a hard time finding factory workers think it's a very exciting product in a people building stuff .

like this make poor hour like I know when they work in like a car factory, they make thirty box an hour in.

The salaries are somewhere between ninety and one five.

Wow, that's a great job.

is a great job.

That's a great job that own a home job.

IT is a really good job.

Have one parent stay whole job and raise kids job like that is back to classic american. One parent gets to stay home. Another makes enough money to pay a two or three thousand .

dol amount they were every industrialize and the v are ping. Make that happen.

Let's go. I want .

to squeeze more cresson before I can you on all day. How many?

That you bring me up as A I get like all these emails. I want fox business like a couple months to go for this and what the take or I know he .

wants to have funded to send. Some people are trying to stop put from american countries.

I buy ukraine. Frog, you're in. So I will let's do that. My co founder will love you for that.

When the war, when poon invaded the first month is actually when we saw the same month. And he donated a bitcoin so that the ukrainean could buy javans. So I you're totally aligned with my city. I I have to connect you .

guys and continue because you are putting your hiring for engineers. Uh, where can they go watch your email? Because there's a lot of engineers listening to this, yes, working on nonsense at facebook, trying to get people to, you know increase the click through rate on some can add by point of one percent when they could be actually doing something important with their lives like working. I come email Steve.

thanks. Thanks again. Email Steve at Allen control systems 点 com would have to have you were an awesome primarily， but you can be removed. But people in sten, south congress, south of the river.

Oh yeah, great. That's yeah. I been okay.

I'm there twice a month. So you actually come to the range. You should come .

to the range and the and and alive this week, and from and get to you. You can do the drive. I would say so much for coming up.

Everybody go .

work for, see, say, four of you go work for protect this country and protect democracy. Came in amErica here and start them, but guess he was great. I could talk to him for hours.

Let's i've, Steve, back on in one year. You know, we have so many great guests that I was like you. Let's try a two for on this week.

Start up. So let's do a tool. E, R, let's do a tool for tuesday.

Come on here on. Z one hundred, the morning show, two for tuesday. Member, that on the radio.

it's wednesday. Js, I know.

O for tuesday in my mind. Okay, you remember two for tuesday.

I do not that my prove .

for tuesday were like OK come in at a money for nothing from day for tuesday and after the first of swing up.

So my version, this was Mandatory, metallic, the local, and they would place three metallic sons in a row. And like nine P. M. Or something.

I met the, I met the legal tars from incubus recently yeah yeah nice just friend of a friend and we talked about parenting and um he's a cool dude um like um mike I singer I met mike ee singer E I N Z I G E R and um we just went back and forth talking about rock and roll with our kids and like what bands we were introducing them to so shut up to my eyes singer this might be a new celebrity romance on having, you know, have a cebit romance once I made a celebrity and then I grow out with them and then you make them .

come to your poker games, then .

you take all money.

But interview is Jason, let's have our discuss on because this is this is one that's actually very exciting from the launch perspective for gomi have the o and code of a company called quero. There is around me.

How are you, sir?

I'm good. Thank you for but not in my name.

right?

Very excited to talk about the second half of american dynamism. B to B S. It's a very exciting.

No for me. What are you doing in the world? What did you get done .

this week and you're protecting well.

welcome to the program. Tell us a little bit about what you're working on and maybe even show us a little bit about what you're working.

Yeah, sure. So we do not. I'm ring where O, O is the best way for teen to work data.

Um we really try to make sure that everyone can work with data at a way that matters of technical level. I think over the last couple decades, we've generally perceived data a very transactional relationship ship. You have someone else bring you what you need, multiple can ask to themselves.

The literally is quite low. And nearby year data becomes more important, right? One of the only jobs that are still higher and demand supplier data jobs a scientist. So how do you make a new generation tool where those technical people feel like their needs are met and the business people feel like their needs are met without compromise, I think is the biggest thing.

So can you show us like maybe take the screen over here and show us the product full disclosure. You uh, went to our accelerator. I'm unsure if he went to find .

university before I did I you made at my job and then after that I but the company and got .

into the accelerator and now we here and so maybe product let's explain that journey for a second because you know um for people who don't know uh I found myself as an early stage investor in sicilia capital, asked me to be their first scale along with a gentleman name, sam altman, he destroyed by the uber. And that got me started as an investor in one of things I found over the years.

Alex was up to four or five thousand applications for funding year, all in broke out, become, became a public phenomenon, crossed over into, you know, public market. And I went from five thousand applications year to twenty thousand coming into our database. But the problem, a one of these companies, al hix here, is a lot to go through.

So now I have seven full time researchers and analysts going through those, put in them in a database where they are already in the database, but you know, sorting through them in in meeting with the top four or five thousand of the top twenty thousand. But what we found when we looked at the data, alex, was half the companies were incredible teams that hadn't incorporated yet, but they had a killer idea, and they had two or three cofounded ers who were technical product managers, just awesome. We had no way to engage them.

We say, oh, look, let us know when you raise money, I guess. And then I think, you know, i'm going to come up with a solution. I came up with found university twelve. We course people come to IT, they don't need to be incorporated.

We invite two hundred and fifty teams and then we'll just whichever ten percent to twenty percent, twenty five to fifty companies will give him twenty five k or one hundred twenty five k as their first investor because I would like to be the first investor in another unicorn so that people can stop saying I was the dirt fourth investor in uber. And I can just, and I think you, anyway, long story short, this has helped us engage with another thousand companies a year and invest in another hundred companies a year because we have a great accelerator. That's the the setting here. So how did you find out about found university?

Yes so I know I found about IT on x um through you x falling and and I saw I found you first since so I apply at the time I was working at amazon I had a great idea. I was kind of like the personification of career as as a person and I worked in a lot of technical and business rules and mean, my co found I met A U T. auto. Actually I lives an awesome for for a few years, and I think salt, like in wimberley, is Better than terrible acts. But i'll leave that for other .

people to to join frequency about ten minutes.

nice. Yeah and yeah. Like, funny version and got in and and you had built an m VP IT, worked really well, got a lot of good value out of the program and then we end up getting investment from the precelly or and that was really kind of like that big push and made us incorporate, uh, we both committed to career full time, put our jobs Michael finder, he had um worked in Operator at a couple of exit that startups and I really just lined everything up for us and really gave us that initial push that we needed to keep going.

So just to be clear, my face was, hey, if i'd build this thing found university, I might get people to quit their jobs and amazon or uber or wherever they are and start their company. And that first twenty five, one hundred twenty five cake check could be the thing that just now helps them make the jump. And in this case, that wasn't fact. What happened?

Yes, yes, the plan worked.

The Price heart, a plan con hard.

which is very rare. That is really great for a plan to work out. But yes.

I love IT when a plan comes together. If you are child of the eighties, you remember the eighty. And I love IT.

When a plan comes together, I have to get my scar out. So show is the product here and up with the, uh, we've done the south. Congrats ory a Victory lap here. An idea worked, but let's see what your idea is.

Let's make this about solo. I will you the current version of curio. Maybe we can talk about how it's gonna changing um but yeah, so first of foremost, career is a bital business intelligence platform as to help businesses analyzer data and clear the data.

Um so today we're going to be looking at some data for dunder miyan um for those on familiar that is a very famous T V show called the office so I can ask crew, you know who am I and I should tell me who I am. Course i'm going to be the best character on the show, which is the microscope. T um he is hilary.

So yes, we are a Michael Scott, real manager of scranton. P that's fantastic. Um pretty much like other classical battles. Uh, you have things like you know dashboard where you can track things at your creating that refresh automatically .

that you can filter classic b actually, what with the top two or three people would recognize as business intelligence.

Looker tabb o maybe sap, if you're in a very old organization, those are of like the more larger ones. And you have some new age ones, like thoughts about the only and how modern your organization is. But I think tablo and looker would make most people's braking a lodge a .

in two thousand and or so, two thousand and two thousand and ten, those company started to .

emerge because because so like really started the whole of online chart creation, where a data team was making these charts that they could send to their business counterparts for them to track things. Really like the first big one, second big wave came with tables. They let you actually filter them, look, or let you look at the tables underneath them. You know, every five years you got a bit more control on the business side.

And this is where an entire career emerged for people who would be in big data. What what are the job titles that were created because of this over the last two decades?

IT sort offered like business analysts who were just analyze business data, data analysts would be a little more technical. You have the the engineers would actually move on the data around the data engineers. And then you have the data scientists who forecasts do deeper analysis that became more of machine learning when that came out um and then some ad hawk qui of like develop analytics and and some brand kind of more niche ones. But yeah okay.

so that's great. So this entire industry has bloomed over last twenty years, alex. To give context, the ten years before that we saw things like databases in storage, in the internet kind of get, was the set up to all of this, right? Rome, like, yeah, the fact that people had cheap storage, the internet, there was a lot more data recorded.

And then people said, well, what what's in this data? And a classic example that would be somebody like amazon who has sales data. They have a website data today.

there are so many data vases at amazon. IT crazy. Yeah, yeah. You know, you can't fit things in the excess, right? You have over a million roles. You're getting hundreds of millions of new rules every hour, every day.

This set is all this data exists. You have to go to somebody like a developer, get them off of building a product, ask them questions and way to week or two. Then you forgetting you put the request in and then they come back to say, hey, did about five days of work here's your data yeah only .

for them to not actually be in your data day, not understand the nannes of your question and you have to tell them, okay, that that didn't passive check. I think you looked at this wrong and you pull in this way instead .

so that our set up .

for you to get success time. But amazon, fun fact was about five weeks. General.

that's like two years.

five weeks over five years. Amount of rome Y I understand .

the point of query is that IT brings in a lot of traditional B I two dashpots and so forth, but IT also lets me query in plain english, so that way I don't have to go to a data analyst or the design is I myself, the person in a business role can do IT myself?

yeah. So that's one part of IT. I think you know, I think it's really great that companies are trying to be more a literary.

I think it's great that we're now buying data products for companies, but you look a tablo. I think something like ninety five percent of the life as they sell are just for reviewers. You can't even make anything.

You can't drag on job column n to make charts well. And so it's great that we have all these things. We agree everyone should have access to them, but music can actually use them. They can just open them and look at um and so you know we're going to build that the ideal we are building IT where how do you make the data people's lives Better? You know not only you're going to save in time, how do you make their workforce actually Better because you want to convince them with more than just you'll have a few less questions. Then how do we make those business people can have lit up on the head and the set of having only a transaction relationship waiting that you get to do some more work yourself um and yeah so and we can go job into a couple of questions, see how korea would answer them.

But okay yeah so we we we have some data here in quero. It's curio dot ai just you want to go look at the website and this is your one of your company, basically. yes. And you bitter what was an MVP when we met? Now it's a it's an actual product .

that people can customer's people box. Yes, yes. Wow, amazing.

That's great to see that all happen within yeah under eighteen months. So what can people do with that? Because this is so you don't have to wait five weeks, right? Is that was when you originally talk to me about IT was like, hey, there's no reason for you know a hundred percent of people in organization should be able to make the square his of the data sets and and we want to make a tour that takes out that telephone game. Yeah.

yeah. We wanted take a tool that takes out that's exactly that and also a tool that will serve what the current needs are, but even Better. So s with the talking about, you don't need to have this telephone game going back before and someone technical and getting the contest in the business thing.

So yeah, we have some data. We have some account data, orders data IT dunder myth le and cells paper products to a bunch of different companies. So we can ask a question like, you know let's list the top ten products by revenue and give us a quantity. So um pretty a basic a question as we can ask IT korea can look for the database, understand how what all joints undergo, how that works. I'll tell you what is going to do in english, write the code for you right after just a equal career and you can see if your technical you know just you can be sure that is right.

And then just like that, you get your answer really quick if you have some classics up rather you can sort the data whatever is which is really nice um but you can do more than that right? This is a query and question like just asking show me the x of these is like clicking through some through A A what if we had a question like, you know, are there any sales people that have to offer some discounts to close the deal? You know which account .

managers are offering the most?

yes. Doesn't my bet? Is Michael scope probably he seems that the kind of guy who would offer lot of discount. So yeah, it's going to join the orders and account table for any on account ID.

So what has an idea of how all the tables relate, which is a really complex thing that a lot of dedit sugar with sometimes and then going to calculate the averages on percentage. So just like that, we have a list of all of our account managers. The average condition tage looks like air and hand and is actually number one and microscope s third. So or actually .

he still ran at the bottom rine just holds the lie that no discount we charge a fair Price, he holds the line.

Yeah um yeah and I guess what's really call this kind of products like you can think that I is the best data sign is that ever existed, but is the first age your company? And so the biggest thing we have to solve is how do you get this digital kind of context understanding of how your company in your data works that I can write the correct queries, right? It's not looking at the roles of data actually riding the code instructions to the pull data from the database.

And we do that there's up to all acknowledge base. And the basic of where and here IT is is where we kind of capture all the details of every column, how all the tables join. Um usually colum names aren't very descriptive of what's actually in them um and I think maybe about like fifteen eight percent of my time at amazon when else working with data was just trying to find IT. And so this is great and that .

so romi on on that point though, how hard is IT on board a new customer into this uh, customer? Do they have to change how they update data into the service organic hours? A variety of different, different inbound sources from different companies that might have different approaches to store in the information.

Um so to start of how hard is it's funny. It's actually the the more mature the company is, the easier IT is. So they don't have a data team. There may be only run with the co maybe some engineers like flexing, doing two rules and didn't really have the time to set up up. That's what we can you know, have a bit more of a manual approach o unscalable things when you are starting off.

But data teams are quite used to building things call data models and data ata logue, where they actually kind of document what's in the data to make sure that IT works and we ever own system and how we define things so that they maximize efficiency. Created the team and also automated like A I process. Um there's also they need to change um at all.

So with something they just um you know like fill out and in the wrong way, you can also already have kind of scheme as a how the data works. Now they ready join that preexist and we have an agent system that can also fill out to do a first bus where they can check um and we can go into more details. But yeah, it's inversely correlated with the maturity of the of the company. No, I appreciate .

that the design actually help your uh, early custom acquisition. Are you dealing mostly with larger, more legacy clients that are therefore easier to onboard? Or are you selling more to start up today that have more of an issue getting set up?

That's a great question. yes. So know the whole thing we are going to build here, which is meeting everyone of the technical level. You can see everything I demo today is really, really good for those people that our technical and need to ask open ended. And so that process is working really well, but it's a no cash ony too, since we are built for those not single people, they are also the hardest to onboard. And so the next face of the company over the next six months is we're building out a lot more these features that those data ines are going to love um and then that all increase or A C and then also lower on boarding times in our sales cycles.

which will be great, is the way to go to market here. I always like to think about goto market strategies in year one of a company know as you get into you too, you've got a really be thoughtful about who is your ideal customer profile. And I wonder if you've given thought to, hey, I use tools like locker, I use tables and so i'm going to add this to my utility belt and put IT into the nex.

Or do you think, hey, our ideal customer is somebody who tables and look or are too complicated for and they don't have IT yet, but they do have underlying data. In other words, they're kind of a cleaner. They're not like data blinded where they don't care about data that just running some small business. They're not data driven organizations, but they're like that sort of middle mid size company. How do you think about which one to go after?

That's a great question. Um paul, I think I out off by saying that any company that is internet to run is probably to to analyze data. okay. I side of like people like some nh e commerce stores for the most part, it's a fundamental part of most business and they can't avoid that at some point.

Um I think we've had customers ready leave products like locker and made a basic a bona for us, which mainly means that we are taking the market here. We don't think we're directly competitive. But the idea is not to be part of that is too give them a solution that actually fitz there needs a lot Better and which those schools just don't. So it's more the second one, which is to replace those souls and functionality and actually two or three tools instead of just replace one.

See, I think this is like a very interesting exercise, alex. It's one I like to do with founders is just have this dialogue. So what you're seeing here when I when I ask you for me a question like this is I I have my own thoughts on IT.

I'd like to hear the founders thoughts on IT, and then I can ask another probe questioned in and this is what eventually results in a board of directors creating a plan, and then that plan is for the next year, and you execute against IT, and then you put priorities and resources against the plan. And Douglas told me, hope is not a plan. Plan is a plan.

Make a plan. And so now when I look at these things, I have a really um interesting, humble approach. I just listen to founders and when I hear you talk, romney was just like a bunch of things burned in my head. I realize there are some brilliance to the simplicity of your product that even people who could figure out a complex legacy product and a legacy product needs to be any product over ten, twenty years. Any product is over ten years is now a legacy product because interfaces change, AI changes are so many things to do.

IT and IT reminded me of a discussion I was having with a friend of mine when you get to a certain scale house, alex and you've experiences this I think with your in laws and some other folks uh you mentioned um you we will be told you have to install a home automation system like question ron or survive these things cost hundreds of thousands of doors implement but I ten lion home, you like one or two percent I something to manage this home nobody ever uses them. They always broke and they require somebody for two three hundred dollars an hour to come in in reprogram matting. And you get to have this moment where you have a weird remote control.

People come state your house. They can turn on the news or watch the next game, or put on music. Every time I buy at home, I rig the shit right out out and, you know, idea so no, see apple TV. Yeah.

were dear that rumor or that apple releasing a like a control center for house?

I predicted this two years ago. We did something. What should apple do next if they're not gona do project tight in the car?

I said, no motivation. I use le home, it's garbage. I use google home, it's okay. Um I love google drop camps which became less. They spread that holding up um but I just go with so nos because it's allegedly simple and it's beautiful and I go with apple T V because again, hit everybody knows how to use IT. And so I think there is something to simplicity in U X and design that you may have hit on that would even make the person who wants to put in the two hundred fifty thousand dollars savon system, uh, or control four falls in the pocket where you are not allowed to make changes to IT. You need a technical person, bubba, a spread IT like, go go with elegant, simple there something to we are .

looking at one of our first customers. They were paying sixty a year for looker and only the C. T. O was second go enough to use IT .

roof from a number .

of twenty and and and ridiculous notes that they paid for a separative. They were also paying for hacks because look doesn't support python. So we haven't actually gotten into the non I our part that were improving. There are some ideals like mode analytics. They got bought by thoughts.

But but the legacy les only even support python natively, which is which is not a nai think they just only do equal and data teams are not having to buy a python tool like a jumper E A notebook cost and A C cool tool that has some hole dash force. I look and and it's ridiculous. And they're paying six figures at sometimes seed, definitely a serious a for like three people to have some good data. How much cheap .

er can you go go are to those legacy Price points, how much a Price what we might see as you guys take on .

these incoming, I think that are are decision complex to make where there is not going to be like a flood of these really kind of consolidating python with like good A I agents with good equal ideas. Um so right now our average A C V is about uh 8k later 3k um are two newest costumes at the fifteen。 Ideally next year we can start reliably closing those two and twenty five case. Um I would be .

off as a baseline, I think is the destructed rising with .

yeah and and it's great because if we can get up to their current A C V S but offer you can also this other tool that has nothing to do with .

look or I value prop and .

we're gonna get more valuable for business team. We're going to be able to sell or more know you data team or c to are you gona have a lot more time on your hands and the other python works be quicker. Um there's just a lot of value to claim from so many different.

which is really nice, right? Me, this has been great. I want to let people know three things, if you like. Gomi are working at a company and you have a great idea.

I'm waiting for you funded university number two, if you have A M V P, you got a couple of beta customers and waiting for you launch accelerator, launched a cosplay h apply number three, once in a while, if I have a great company, um we will share that company with other Angel investors and help them get in early. And that's done through something called the syndicate. I was able to get the IP around the syndicate where after I left.

So I have the syndicate 点 com one thousand Angel investors， I think four thousand. And i've actually done to deal with us. We've done three hundred of these deals. So go to indicate that com. And you might see companies uh, that come out of our programs who are raising small amounts of money at reasonable valuations to come to get to the next step.

If you are a high risk, a credit investor, you can join the syndicate a there's a waiting period like thirty days and then you have to be a credit right now, even in the future that changes the cynically that can go apply now and in worst case, in area, alex, to read the deal memo and you say no to everything, but you get smarter right? Thank you so much. Uh for a including us and in your journey appreciated and uh, looking forward to great things to come.

Thank you. I was great talk in the guys again and everyone listening. I highly recommend all the different programs Jason has. I've done pretty much all of the mmd.

You're you've checked off, I think, three or four boxes so far. Maybe you check off the forth at some point soon. All right, well done, romney. And it's quero that A I spelt .

A R O little query O.

A I all right, i'll see you soon take around today, alex.

I think we've .

one enough show for IT today, tomorrow with a lot of interesting topics. We're going to talk a little bit about exits and ipos. I saw an incredible stat uh and have some great charts and that my friend boy was sharing with me what's up ah so we got some great stats and chart spread tomorrow we will have the invidia earnings tomorrow ah anything else on the docket tomorrow that that we should is right now.

Wouldn't people hate to go over s service times as one violin? There's a new microsoft A I deal with harper columns is pretty interesting.

I harper Collins aur for this book right here, Angel and I want to know about because I am gonna call from dollar .

amount will actually be very interesting to you. But the pitch is, and there's this, there's a bunch to get to tomorrow. I, so if you do love twice, we are alive tomorrow at yet .

one P M eastern, ten I M A pacific west coast, or as we would say in new york, the left coast. He's at alex on twitter. If you know who the main character is, or a deep cut of an interesting story, you can always dm him.

I assume dm, or up in my D. M, are open and man, or they are messy, or you just at mentioning both of us at alex and at Jason. I'll see you all tomorrow on this week start ups. Bye, bye.

bye.