Now idea people are fine But the truth is there's a couple Hundred people in the room and last Night we all had 20 or 30 ideas while we Were sleeping they're called dreams some Of them might have been nightmares so Collectively we all had 500 ideas of Those ideas in the 500 there's three Billion dollar ideas in there ideas mean Nothing All that matters is execution this week In startups is brought to you by Coda is The all-in-one DOC for teams if you've Got a stack of Niche workflow tools or If you're buried in docs and Spreadsheets Coda is the dock that Brings it all together get a one Thousand dollar startup credit by Signing up at coda.io twist Miro helps Take ideas from in your head to out There in the world with its ability to Democratize collaboration and input sign Up for free at miro.com Startups and veed makes it super easy For anyone yes you to create great video Filled with amazing features like Templates Auto subtitles text formatting Auto resizing a full Suite of AI tools And much more veed gives you the tools To engage your audience on any platform Head to V Dot IO to start creating Incredible video content in minutes All right everybody we've been focused On the amazing progress that AI is
Making primarily for business and Generative art so we're seeing it affect Things like advertising copywriting Press releases Reviews strategy documents but AI is Also having a tremendous impact in Healthcare and one of the leading Diseases that sadly many of us have had To deal with in our families or maybe Even personally sadly is Alzheimer's Early detection is a key piece of this And my guest today is working on using AI And a bit of hardware To track treat detect uh this really Pernicious and horrible disease his name Is James Emmett and he is with vistum Labs welcome to the program James Jason Thank you for having me it's a pleasure To be here it's great to have you Um tell us a little bit about Um what you're attempting to do and then Let's look at the hardware here and We'll Sports cast it for those of you Listening and just yeah tell us about What you're trying to solve for here and How it's going Thank you yeah I really appreciate the Opportunity so what I'm working on Specifically is I believe it's the Biggest barrier to effective Neurological care and that is the Diagnostic piece of the puzzle because Today so many patients you know they
Come to the clinic they want to get help But the existing tests that we have are Individually inconclusive they're costly They're invasive and what this means Usually for a patient is that they have To pay a lot of money out of pocket they Get results that don't necessarily help Them and it takes a very long time for Them to actually get the right diagnosis For example Alzheimer's disease but in Dementia there are actually 105 Different cases of different types of Dementia and so figuring out which test Is the right one to run that is a Problem that AI is able to solve and the Way that we solve it is in a very unique Way we've come up with a type of brain Scan that is able to look at how your Brain processes visual information and From there we can actually figure out in Advance how you'll perform on a pet scan On a spinal tap on you know a variety of These tests that you would normally pay Big money and a lot of times you get the The average American it's going to take Them you know about 18 months lead time To get a pet scan and uh we think that What we do is very cool you can get Results in the same day So uh right now in order to test if you Have Alzheimer's or to get early Detection of it There are physical tests and kind of uh Test a doctor could administer like your
Speech or eye movements coordination That kind of stuff and then if those Don't go well or they see signs there my Understanding issue do this Um brain Imaging right it's not an MRI It's pet Positron emission tomography Yeah so so you you basically got it the The world of today is you walk in as a Patient and your neurologist is going to Ask you questions right it's kind of Like a physical evaluation a physical Test they don't actually necessarily Listen to your speech or look at your Eye movements it's more basic than that As wild as that sounds it might be hey Can you count backwards from 100 do you Know what country you live in Um can you draw this shape on this new Piece of paper it's it's pretty wild Because of how subjective it is and Another problem of course is that if you Are advancing in stages with dementia You may still be able to count you may Still know where you live right I mean These are questions that I I hope I Don't get wrong Um early on into the disease because That that really is a sign of late stage So the world of today we wait for the Symptoms to get so severe that the Person can't even count numbers anymore And that's when we say okay let's do a Pest game yeah it makes sense to do a
Pet scan Um very rarely will you do a pet scan on A patient who says hey you know I can't Remember people's phone numbers I can't Remember my garage door code Um you know maybe I'm like forgetting my Phone and I normally always know where It is little tiny things there's no Solution for that type of patient Uh and pet scans are not cheap and they Require Um a bit of time to do right you have to You take some sort of I guess you get an Injection and you digest some sort of a Dye and then it it does the scan Um but we're talking about to do it for Your brain what does it cost 5 10 grand Right like this is not cheap it's a Range it's between five and ten yeah Yeah I mean having you know and by the Way it's also inconclusive because you Can get inclusive of course Um you know none of these tests that Exist today are definitive in order to Know that you have the disease one of The reasons why they wait to get to do The Pet Scan is because they need to Show symptoms they need to show that Your cognition has changed and so one of The problems that we believe we're Solving is we have a test that measures Your cognitive ability it measures you Know amyloid proteins in your brain just Like a pet scan would and it measures
Signs of neurodegeneration you know Physical volume changes in the brain and You need really all three in order to Say this is Alzheimer's or so something Like this Um because there has to be a better way And you have the hardware product plus Software to do this Yeah so ours our product is entirely AI Entirely software we do leverage Equipment that's already in the clinic We use what's called EEG Electroencephalography Um it's not our proprietary device we're Not pushing any single unit uh the the Neurologist already has these devices Usually for epilepsy and for Sleep Monitoring Um all that we ask is that the patient Wear that device that the physician Already has and then watch our video and What our AI does is it looks at how the Person's brain interprets the pictures And we can see what types of pictures What types of activities animations the Person's brain struggles to interpret And that's how we know what type of Damage it is where the damage is how Severe it is as well it's pretty amazing Some people from what I'm seeing become Blind to certain types of images based On their brain damage oh really wow it's Not really surprising either most of Your brain is visual cortex and if you
Have any one of these diseases you're Your cortex gets damaged physically so Some of those links are broken Eegs are super easy you put these on Your head it's like a bunch of you know Diodes or something and it just measures Brain activity am I correct Yeah but there it is we're showing it Here so this is a device that you don't Make this is a standard device and they Use this for sleeping right if they want To if you have narcolepsy or you can't Sleep Um you wear these and they test your Sleeping patterns yeah and this by the Way this is not a device that you might See in the clinic this is a little bit More of a like a consumer product just Just so you know Um but yeah uh it's exactly that you Have these little tiny uh metal pieces And then they touch your ad just like What was shown in the picture Um and typically with a with a medical EEG those will be positions all across Your head it looks like a swim cap yeah You know Uh it looks yeah and and that one it Looks like an octopus or a swim cap and It's just basically you can get the Electoral activity in the brain and then So you have a video of this at work you Will Um give them a series of tests record
Their brain activity and then the AI Does what and maybe we could show this a Little bit yeah Yeah and so what the AI does is it looks At all those electrodes and how they Correlate with what is being shown on The screen across all the patients in Our clinical database so we've used our Method yeah that I mean that's how the AI is uh works that's the training data That's the training data Everybody knows the startup Market is Really hard right now and uh you can't Be messing around with expensive Software or software that doesn't work Stop wasting your time stop wasting your Precious resources dollars and your Team's time stitching together five Different subpar Solutions no Coda is Going to help you do more with less Encody your team can work on entire Projects from start to finish and you Have everything you need all in one Place you know what happens when your Work is spread out across a bunch of Different Tools in people's email Productivity suffers coordination Suffers communication suffers in this Market speed efficiency and cohesion is What keeps your startup alive and Coda It's that one document that pulls it all Together you can see an instance of me Using Coda just go to jtrading.com and You'll see this gorgeous Coda page that
We made and what is it it's all the Trades I made here on the podcast Talking about it and this is doing Pretty good right now I'm up like uh 16 Versus the s p of five percent I'm 3x The s p but what's really nice is it Does all this automatic in a table with All these calculations you can really Program code and like nothing else in The world and we're using it for founder University now so if you're ready to Join the sufficiency Revolution with Coda you can take advantage of the Special limited time offer it's just for Startups sign up today at coda.io twist And get a thousand dollars in startup Credit on your first statement that's Coda.io twist to sign up and get a Startup credit for one thousand dollar Coda dot IO slash twist how many people Have you done this with yeah so we've Done this with over 150 people Um you know internationally as well we Did this at Columbia University we also Did this in Germany as well at LMU Munich which is a very reputable University and we collected this data With you know almost 160 patients we Have amyloid activity uh sorry amyloid Protein levels from pet we also have Tau Protein levels from spinal tap and a Variety of other endpoints and so what Our AI has done is it's trained itself On their EEG to to use new EEG to figure
Out what those endpoints would look like For that new person And of those 160 odd people who you've Had do this did some of them have Certain degrees of Alzheimer's and That's how you benchmarked it yeah and Some of them were just young healthy People who had none Yeah so uh to accurately describe our Demographics Um I need to say that we didn't use the Product on anyone younger than 50. okay Um so we don't have you know healthy Young people but we do have what's Called healthy Elders they exist okay That would be me 52. I'm healthy and I'm An elder yes and hopefully you know You'll stay healthy too yeah Um and and and so in our in our Population that we studied we have these Great healthy people Um who are staying fit who are Highly Educated Um we have other people who are at the Early stages of cognitive decline this Is what we call subjective cognitive Impairment this is where the patient Believes that they're suffering from a Disease but there's no um clinical Evidence that would corroborate that Claim uh we also have patients who are Considered mild cognitive impairment This is where there is evidence for Example maybe they can't count backwards
From 100 maybe they can't redraw the Picture right so there's real Symptomatic evidence that's that's hard To refute Um but we don't know what the cause is And then we also have diagnosed Alzheimer's patients and so those are The four cohorts in our population [Music] And so where are you at in terms of this Product being in the market because is It fall under a medical device it's Diagnostic is this something that's sold To Consumers who can then take the Information they collect from it like They might with their Apple watch or Fitbit or their Aura and consult their Doctor because it's quite a path From what I understand I guess it's the FDA that uh who does medical devices so Yeah it regulates it so so how does this Work as a startup because I've heard Ones you know people who have different Technologies say oh we're doing this for Quantified Self so we can get it into The field early and then people can use It to gain information as they're Allowed to do but it's not for Diagnostics or for like a medical Treatment so how does this all fall into Place as a go-to market strategy if you Will So as an entrepreneur and as serial Entrepreneur who's also been in the
Neurotech field with other businesses uh I I do know this field pretty well so Maybe maybe I can move faster than most Um but I will say that we will be in the Market this year with clinics and we're Looking right now at having our launch In September we already have three Clinics that we'll be launching too and The reason that I can move this quickly Is that our product is actually exempt From FDA approval and that's because of Our ability to measure cognitive Performance of people because we're Doing that and because it's clinical Cognitive performance we are classified As a cognitive assessment Aid which Creates a special product code which Exempts us from the you know Advanced FDA approvals what this means for our Products is that we are not claiming to Diagnose Alzheimer's with our products Our product is simply an AI engine it Produces the endpoints that the doctor Is interested in getting anyway like the Like the pet results and the MRI results We'll provide similar results but we're Not we're not claiming that it's Alzheimer's now in a future iteration of The products with 510k approval we may But it's not necessary for our go to Market got it so this is the I mean this is quite reasonable do we Have a reasonable framework here in the United States for allowing Innovation
Like you're doing and then also Protecting people from like claims it Seems reasonable explain it to us like Um you know for for people who are not In the industry how it works getting From one stage to the other yeah so I Will say that not all products will have This opportunity Um not all products will be recognized As FDA exempt it's all based on the Intended use of the product and so you Have to when you're planning your go to Market strategy you have to investigate What those exemption codes are and see If maybe your product does fit with one I am not an expert Um I have experience but I'm not an Expert we've hired a company called rqm Plus they uh they've provided us with You know regulatory advice and guidance And Um I guess this is a little plug for Them but uh they they help us make sure That we are not making these decisions In a box and in a silo and so for any Aspiring entrepreneurs out there Listening to this I would recommend the Same thing you know find a consultant a Regulatory consultant who can help you You can do your own research what what You need at least though is to have a Third party just double check your Research right blend their experience Confirm with what you're saying and so
The the place that we're at right now is We've identified this product code that As long as we are providing cognitive Performance indicators then we are able To be a cognitive assessment Aid and When I say cognitive performance Indicators I don't mean a subjective uh Metric I mean specifically we are Predicting with AI we are predicting Specific cognitive evaluation scores so The fcsrt test you know if you're a Neuropsychologist or neuropsychiatrist You might recognize what that is the Free and queued recall test it's a Memory test we are able to predict Someone's performance for taking that Test and so that is what really is Allowing us to take advantage of this Code and yeah we're not making big Claims we're not saying these are the Results of a pet scan right that would Be dishonest Um but what we are saying is we're Saying if you took a pet scan this is The type of result you should expect to See if you take an MRI this is the type Of result you expect to see and and There's nothing there's nothing wrong With that Um could there be products out there That take advantage of this yes I Believe so the challenge that I would Put to those companies is good luck Because selling to doctors and hospitals
Is really really hard they're going to Want to see the evidence not just okay It's FDA exams awesome Um FDA approval exemption whatever Whatever it is that's enough to sell Legally but you still have to sell to Your market and they have their own Um important criteria for making their Buying decision and clinical data is one Of them yeah and these are broken up Into different classes and like you know There's like Band-Aids and you know then There's like taking your temperature or Like a pregnancy test and and you know Then you've got heart vowels you know From being implanted by a surgeon and I Think the FDA disappointed the jars is Just software too so yeah so it's it's In probably I don't know if it's class One or two or where it falls and all This I'm no expert like I said and um But you'll be able to get that 510k at Some point to you know as you go but People can just use it for informational Purposes now Founders always ask me and my team for Pitch deck punch-ups okay this is Constantly what we're asked to do is Help people with their pitches well I've Got some great news for you today we Just worked with the team at Miro that Awesome whiteboarding software I've been Telling you about to create an amazing Pitch deck template for Founders which
You can see right now if you're watching The video if you want to check it out Head to miro.com miraverse and search For pitch deck M-i-r-o.com slash mirroverse this will Help bring your pitch deck from zero to Basically VC ready go check it out right Now and if you are a hybrid or fully Remote team Miro is incredibly useful It's like an old-fashioned in-person Whiteboarding session when everybody's Brainstorming but this one is Distributed and it's asynchronous you Can do it when you have time you don't Need to be in the same room Miro lets You brainstorm Amazing Ideas collaborate On projects and more from anywhere in The world when you think Miro would Think zero to one but faster and Miro is So much more than a simple digital Whiteboard your team can collaborate on Planning research design and feedback Cycles faster inputs equal faster Outcomes and velocity is how startups Win so here is your call to action to Access our new miraverse template sign Up today for a free Miro account at Miro.com startups that's miro.com Startups to sign up for free and then Have you had any like great results so Far in the market or in this testing Yeah yeah so we haven't deployed our Product with clinics yet because the Product will be launched this year but
Then we will start to collect that data And get their feedback and we believe That we'll be profitable starting in q1 Of next year so it's a very quick Turnaround it's very nice that we have An opportunity to make profit even Before that 510k opportunity and another Thing we want to do is expand into other Disease States I mentioned that there Are 105 types of dementia there's also Parkinson's traumatic brain injuries so These are areas that we want to that we Want to help and that we know we can I Do have a video that I can share just to Give a little bit more color yeah and so The video is here I turned off the sound Yeah let's see it so so this is Um there we go I paused it yeah this is What a medical EEG device might look Like you can see that it's a little bit More uh sci-fi a little bit more like a Pretty cool looking strange days if you Know that uh uh great science fiction Film at the turn of the century uh but Yeah it's like a skull cap that's got a Bunch of webs on it and it records your Brain activity yeah yeah and so what we Do is we put this device onto the Patient the clinician you know loads the Software onto the computer and uh in a Quick instant we'll have the patients uh Actually wear it What does that device cost uh here we go So so the patient here is wearing the
EEG and they're they're watching some of Our some of our video Got it so then sitting there with that Cap on the swim cap like I said and the Screen changes and then a report comes Out Yeah and this is an example of one of Our reports so you can see you know Activity within the brain you can see Where we expect distributions of amyloid Um you can actually see these are these Are continuums for those different Endpoints uh we we you know create a Range of where we expect the patient to Fall we also have on the bottom here This is progression data how we expect Those endpoints to change in the future I think that there might be a close-up That's a little bit better to see Um yeah how much does that device cost That goes on people's heads I'm curious Ah here we go so that that was just Slightly zoomed in here Um so you can see here just some of our Endpoints so you asked me about the cost So we're not selling the hardware uh Since that's not part of our business Um I've seen Prices range between you Know 5 000 On The Low End Um and on the high end 40 000. uh just For that that system for the head to Record brain activity yes and it's not Just for the system itself it's also it Comes with an amplifier which is a which
Is a box that does all the you know Amplification and Signal collection and All that it's a big pretty serious piece Of hardware for um for clinical systems That you'll see in you know the regular Neurologist office Um a better more accurate range is ten To fifteen thousand dollars The most expensive one I've ever seen Was a university you know research Equipment with I think it was 248 Electrodes this the one I showed on the Video is uh about 60 electrodes and so There is no consumer version of that yet In the world but just going off script Here and on a little bit of a tangent Are are there other uses for that thing At some point are we all going to have Those as like brain interfaces for our Computer and be able to think of a Question have chat GPT 17 answer it or Play a video game with it or drive a car Or be in other words like Professor X so So I'm actually a a pretty cool guy Um you you probably know about neuralink Right yeah sure you may have heard about A company called neurble nerable was my Was my last company and we used EEG to Like you said drive a car play video Games uh control things like phone calls And music Um and so yeah I mean I built that Technology and that's where I get my Expertise in EEG specifically got it
Yeah that company wind up does it yes Does it actually work can it work yeah Yeah no the company is very successful It's uh it's based in Boston Um it's actually continued to raise Money and and grow without me which is Honestly the the dream of any Entrepreneur so I get to say that Something has outlived me in a sense at Least outlived my exit Um and so yeah uh it works very very Well I'm very proud of the team that's Still working on it Um I think I think that we've raised Over 10 million dollars to date uh with With that business and um yeah we were Able to do some amazing projects with Some pretty large companies I don't know What I'm allowed to share but yeah um we Used it in Pro Sports uh situations we Used it to control virtual reality video Games uh wheelchairs cars Um You know there's some precedent to using These things to help with people who are Optimizing for Sports basketball players Whatever Reaction Time ability to shoot The puck or kick the ball or whatever That this is like a known science yeah Yeah I mean I got a publication in a Nature's scientific reports because I Invented a type of a way to use this Technology to measure how tired somebody Was I could use EEG to figure out how
Much sleep the person had the night Before and when they'll fall asleep next And when I say next I mean you know are They going to fall asleep while driving Uh is it going to be in the next 30 Minutes I was actually taking that Technology to Market Um following uh neurble uh when covid Started and the transportation industry Crashed and so I I Sort of left that one on the show cost To run your test if like you know Getting your doctor to check for Alzheimer's you know and getting that uh You know special scan yeah we were Talking about 510 K what do you think You can get it down to this early Warning system and how often should People be tested then yeah that's a Great question I believe that every American should be tested from the age Of 45 onwards Um I I would like to suggest an annual Test Um I believe that you know one test Every five years would be the minimum That I would do myself uh less than that You know you're probably gonna miss it You're gonna miss the first signs Um because our technology can pick up The signs of disease up to 10 years Before clinical diagnosis and so you Would want to catch that 10-year window As soon as you can so I would I would
Recommend you know uh between once every Five years and once every year Um the critical question that you're Going to ask me is well what's the price Right is that determines when I want to Do it yeah uh this is less than a Thousand dollars And it's almost entirely covered by Insurance For people with for people with Medicare Medicaid it's fully covered for people Who don't have Medicare Medicaid it's About a hundred dollars that they're Paying out of pocket otherwise it's Completely it's a completely covered Procedure Well and if you catch Alzheimer's early I guess if people are getting tested for This every year from the age of 45 on And you catch it early in one patient I'm guessing the drugs per month to for People with Alzheimer's is probably Going to be close or the first couple of Months on that drug could be the cost or You know the treatment uh for getting The prevention yeah or something in that Range So so if you don't catch Alzheimer's Early if you try to treat it late that's When the treatments become very Expensive we have like you know at a Helm and at Academy mob and some other Treatments that are coming to market now Um and it's been a it's had a very big
Backlash because these drugs some of Them cost about a hundred thousand Dollars a year that's a ridiculously Expensive treatment meanwhile on the Flip side uh you know if you're taking Preventative medication if you're taking Medication that slows symptomatic Decline like galantamine uh and danaza Pill and there are a couple others not a Physician by the way but just sharing um Some names of some drugs that I've heard From Physicians have worked yeah Um you know these these drugs are you Know a hundred dollars or less Um you're saving yeah 99 of your spend With preventative care and by the way I Should also share an opinion Um but it's an opinion that has some Substantiated evidence in literature Literature that these are preventable Diseases the effects of the genetic Factors for someone to develop something Like Alzheimer's it's there but it's not The largest one the largest uh Correlates that we've seen for people Who develop these diseases you know it's It's comorbidities it's insomnia it's It's dietary its behavioral one of the Things that we see and it's hard to Explain but people who isolate Themselves from society who have like More hermit-like existences uh they're The ones who are the most prone for Developing dementia and it's speculated
That the social engagements that they Have with other people actually keep Their brain functioning longer Um so I I believe that there are Behavioral Solutions as well as Pharmaceuticals Wow so we can prevent Alzheimer's Um through a number of just behavioral Changes and lifestyle changes exercising Healthy Lifestyles balanced diet all That kind of stuff and then there's Something in these Um where mental stimulation or social Mental stimulation perhaps Um putting aside the comorbidities of Like I think it's cardiovascular is the Main comorbidity or diabetes Diabetes is a big one yeah yeah Um there's actually there are some Scientists who describe Alzheimer's as Diabetes type 3. Ah Alzheimer's that's interesting and This is the thing about and this is Really important for entrepreneurs Getting good sleep if you don't get good Sleep that is a precursor to alzheimer's If you have your sleep interrupted Constantly so if you're in a noisy City Um and you've got garbage trucks in your Backyard like I didn't during my 20s and I have to get like you know like a noise Machine and headphones to just block out Like the New York city garbage trucks And ambulances that were constantly
Going by that kind of stuff getting Woken up all the time that can be a Contributing factor according to you Know the research right yes yeah again It's a significant factor I um I don't Have the statistics on me right now but I believe that it's a 30 increase or More of likelihood to develop Alzheimer's yeah all right and so Hopefully and it's based on how much Sleep you don't have Right so if you're trying to be a hero And get less sleep you could have less Cognitive function in your final years On the planet I know like young people Like to make trade-offs but I gotta tell You the sleep thing it's not much of a Trade-off because if you get eight hours Of sleep or six hours of sleep that two Hours you're gonna gain quote unquote is Going to cost you because your Productivity is not going to be as good So you might as well try to get I try to Get seven eight I usually get six but I Try for seven eight and I love you yeah You get the six but you try for seven Eight is that thing yeah yeah yeah I have really worked on it you know the Bulldog sleeping with two bulldogs will Get you uh yeah that that is a bit of a Challenge sometimes it works even Forever sometimes it doesn't well you Know what one one interesting thought Experiment that you know the audience
Can think about is uh if it were Advantageous to sleep less then how come Every single animal sleeps Right Darwin would have made the Adaptation exactly yes and and we don't Sleep less than other animals you know We sleep quite a bit Um the very intelligent animals sleep More uh it's likely that sleep plays a Restorative function for our brain a Critical and unskippable restorative Function yeah I mean all the sports Teams now are tracking I know a lot of NBA teams and there's different software Companies uh that do this and they are Tracking the sleep of their players as The primary goal I mean diet right after That but it's sleep and diet that they Ruin stress and those things are Obviously all related Um but yeah sleep so critical to Performance uh Especially in Elite athletes Um what do you think just broadly in uh AI while I have you here what do you What else do you think are going to be You know I think they Peter Attila calls Them like the Four Horsemen of uh death And you know obviously diabetes is one Heart uh lungs he didn't get brain Function I'm not sure what they all are But these uh you know diseases what else Is going to fall what what other things Could we see cancer obviously what are
The things can we see fall in the future You know through AI what because you Must have contemporaries who are working On stuff or are you talking about like What other ailments we can detect early Detector early and or prevent yeah yeah Yeah so so truly I believe that Um most of these disorders that we Face Are preventable and I think that that's Because of what we've seen now with Epigenetics with the effect of of stress And diet on the human body and its Ability to turn on and turn off genes That is mind-blowing to me Um and so I believe that symptom-free Living is possible not just in dementia But yeah across these other endpoints There's a lot of really great work Happening right now in diabetes there's Even some great work in reversing Diabetes I think that diabetes and I Think that a lot of people would agree With me Um that it can be prevented and it can Be successfully and effectively Prevented as well if you can track that The person is developing the condition Early one of the challenges that we have Today is that we're still looking at in Points that we don't fully understand We're looking at cholesterol blood Pressure things that may be indicative Of a problem but things that don't Necessarily tell you what the problem is
And so that's the power and opportunity Of AI that we can take all these Endpoints that we traditionally look at To distinguish these diseases and we can Have the AI essentially figure out this Hyper parameter this hyper endpoint if You're familiar with that term a meta Endpoint Um that helps us know what this is Because you have like your blood glucose Level and you also have your age you got Your weight blood pressure family History I mean there's so many things That come into it and what you're saying Is you you throw all that data into an Algorithm do some learning on it it Might spit back out like hey this person Needs to get this under control Before diabetes shows up well this is Like amazing what I would like to do uh If I had enough time and actually after My success with this business it's to go Into you know some of these more Vascular problems and stroke I think is Another key area where we need more Preventative measures I believe Strokes Are preventable and that's an area where If you don't prevent it you have huge Consequences so prevention is the only Option in in the case of stroke truly uh It's not like you can necessarily treat It sometimes stroke will kill the Patient so um what I would like to have Is a warning system can I as a patient
Go to see my doctor uh in sci-fi right They would sit on the bed and get the Whole scan and okay in five years you're Going to have your first tumor that's What I wow yeah that's what I want and That's the future that I hope that I'm Building starting with the brain If you know it's coming right if you Know it's coming and you know what a lot Of doctors tell people Hey listen you Got to lose some weight and you got to Stop smoking and people just disregard It and they had a stroke well and you've Been speaking a lot about like yeah this Like performance type medicine how Powerful is it to have that feedback Loop yeah okay I go and I change my diet For a week I come back doctor is it Helping me when the doctor says I don't Know that's when the patient's like all Right well I'm gonna go have that Cheeseburger later Um but if the doctor does another scan And says hey look yeah you've reduced Your your odds by five percent That's why I think weighing yourself Every day is such a good practice this Is why I think the sleep you know the Aura and the and the Apple watch fit Fitbit they ate sleep all the stuff that Helps people get a little bit of metrics Um nutrisense and uh different group Glucose levels if you start getting that Stuff you're like ah maybe I shouldn't
Have that bowl of cereal at midnight Is going to spike and then I'm not going To sleep well you get the double whammy Right that was what I was doing that was So uh pernicious and why I gained so Much weight is because I was eating like A bowl of cereal or two at midnight Make my stomach do backflips wake me up In the middle of the night and my spike In my sugar terrible in the interest of The health of all listeners Um uh ice cream at night is uh very bad For you know your Alzheimer's future Yeah But yeah if you eat it like within two Hours of bedtime Um that that's a problem I'm not Entirely sure why but as our brains uh Age We crave sugar more especially in The evening and that has a very strong Link to Alzheimer's so I you know I I Really believe in this power of like Just a little bit of activity so I just Try to walk 20 minutes after dinner or If I eat something if I'm gonna reward Myself with a little bit of ice cream I Just tell people I'll get ice cream we Gotta walk to the gelato store and we Gotta work this so it's a mile or a half Mile and I'm like let's walk to the First one further away and get the ice Cream and then we'll walk back to the Car very simple techniques like just Park your car five blocks away from the
Ice cream store and then walk for your Ice cream now you got a half mile walk In I believe you know I've dieted before I Care a lot about my health I think that It's easier to adopt healthy behaviors Like that like walking more exercising More than it is to cut yourself off I Mean sometimes you want ice cream There's nothing wrong with that but you You should you should get your 20 Minutes of exercise a day and that That's been pretty well documented 20 Minutes a day uh life changing that is The best thing that you can do for your Body if you're not doing it already all Right everybody great job on the company And continued success are you hiring uh And where can people learn more about The company if they want to yeah Jason Thank you so much so I can be found on LinkedIn you know uh also our website Vistomlabs.com you can email me I'm James vistomlabs.com please don't spam Um but do you need a Headhunter are are We are we hiring people Um not at the moment we just closed Around we just we just brought in some Some new team members which is awesome We will will be raising later this year I think we will be growing our sales Team so if there are people who want to Help on that end if you know clinicians What I would ask is if you know
Clinicians who are working in dementia Alzheimer's Um and they're interested in learning More please do connect us because the Only way that I can create a good Product is by speaking with more doctors Love it got to talk to those customers All right and we'll see you all next Time in this week it starts bye bye Listen I'm doing six video podcasts a Week think that through oh my God this Weekend started five days a week for Your listening and visual enjoyment and The video is becoming such a big part of This because we like to show AI tools And then of course you know people love To watch all in the video there because It's Dynamic you see us laughing or Rolling our eyes and I can tell you when You have this much video it becomes Super expensive it is at least 10 I Would say 20 times more expensive to do A video podcast than an audio one and You need powerful tools to do this but You know how many Audio Only Clips you See going viral 0.0 audio does not go Viral videos go viral all day long I Know that because we'll put out 10 clips And all of a sudden boom one gets a Hundred thousand views so you need to Start leveling up your Eclipse game you Need to check out veed to do that veed Is a web-based video editor that makes It easy for anyone to create great video
Content and the best part no editing Skills are required veed has every Editing feature you'll ever need Including automatic subtitles this is Saving our producers a ton of time you Can remove background noise you can Auto Resize for all the different platforms They have a suite of AI tools that makes Editing faster and easier than ever and They have hundreds of Plug and Play Templates for you to hit the ground Running vid lets you do it all v-e-e-d Vid indeed without having to spend hours Learning complex editing software or Paying third parties start engaging your Audience on any platform head to V Dot IO and start creating professional Quality videos in minutes that's Ved dot IO to sign up today so I have to say It's a bit intimidating interviewing the World greatest moderator you know I get That a lot but uh having had a couple Conversations with you before this I Think we'll be okay yeah I think you're A good conversationalist so for our Industry unless you've been living fully Under a rock you may know that Jason is One of the founders of the top 10 all in Podcasts and he's also in the midst of Planning what's quickly becoming the Hottest event in the Venture Community This fall the all in Summit that's crazy It's I mean seriously if you get a Chance to talk to him ask him about it
Um but you're also the host of another Podcast this week in startups yeah and Doing that for 12 years and 1700 Episodes that's impressive Congratulations thank you it was um you Know it was one of the original podcasts When Podcasts were on your iPod and for half The room an iPod is a device before the IPhone that only played music and you Would hook it up and at night it would Download podcasts from blogs and then Load it up and make an album on your IPod that said podcasts and then you Would use your scroll wheel to pick it Um and uh And basically when I found out about Podcasting I was like this is a great Excuse To just talk to people instead of having Lunch and then publish it and a couple Of hundred people would listen to it And then when the iPhone came out and Got very popular you could download it To your iPhone It was pretty amazing Um and just last week I had Brian chesky from Airbnb Reid Hoffman from LinkedIn And Aaron Levy from box all of them on To talk about AI Which is having a spectacular Impact on the technology industry and Efficiency productivity
Um and it's just wonderful to have these Conversations and then have millions of People get to share them I just got back From the UAE and I was in Abu Dhabi in Dubai and the number of people listening To the podcasts around the world is Truly stunning and all in end this week In startups it's like people Think I'm their best friend because I've Been in their ears You know while they're working out or Going for a walk having Friday night Dinners we heard earlier yeah somebody Was telling us that their husband and Wife like their big thing is to put the Kids to bed on Friday night open a Bottle of wine and I'm like yes where's This going super fast and they're like And then we watch you and I'm like wow I Never had that one before but Whatever whatever so they all in and Chill yes absolutely no Um but why don't we start at the Beginning yeah tell us a bit about Sequoia and how you first got into Venture investing yeah so I started my Career here in New York I had a magazine Called silicon alley reporter in the 90s Uh there's probably three or four people In the room who read it uh back when Zines and magazines were a big deal and Uh I was a journalist for a while then I Started a couple of companies I sold one Of them to AOL and then Sequoia backed
One of my companies and I had introduced Sequoia to three of my friends in Startups one of them was a poker Online poker one of them was a micro Blogging service and the other one was An electric car And I said these three startups are Going to go places and they passed on Investing on all three and those three Companies were obviously Tesla Uh Zynga and Twitter And I was an Angel Investing at the time So I didn't invest either but they came To me and said hey um Can we give you some money and make you A sequoia Scout And I said what's that and they said It's the newest thing um rule off who's Our newest partner I said I know Roloff You worked with my friends at PayPal he Said yeah uh he's he's our new partner Uh he was just there for a year or two And he said I'll um we'll give you money You invest it and we'll split it 50 50. And I said don't you guys like as Venture capitalists get 2 and 20 isn't That how it works and they said yeah but We at 30 because we're Sequoia uh but It's never going to amount to much it's Just 25 and 50k checks so I I in the First seven Investments I did Uber Thumbtack and data stacks and um that Uber investment went 4000 X not four Thousand percent but you know well over
A hundred million dollars and so Um then I started a uh my own Venture Funds fund one and two were ten million Dollars each I raised them around the Poker table with my friends in Silicon Valley the third one was 44 million Which I just finished investing and That's the first one where I had Institutional money Greenspring and some Other folks Um and then I'm raising launch fund for And so when you invited me to come I was Like well that makes sense I'll come and Talk but I'm doing something very Different which is a public fundraise Which is called 506 C And I believe that's going to change the Venture Capital industry and democratize Venture Capital foreign C sure the audience for those I don't Know how familiar how many people in the Room are Venture capitalists or have a Fund or work at a venture fund raise Your hand nice and high okay great how Many people are limited partners or Invest in those type of funds great I'll See you after Um it's actually really interesting that Was 50 50 I know it's actually a tree of Balance yeah um so you know when you Talk to a venture capitalist Um when I was a journalist I'd say oh so Are you raising another fund and they'd Be like turn the microphone off and I'm
Like what and they're like we're in a Quiet period we cannot talk about Raising funding Please don't mention that in your story Because if you do the SEC will reset and I have to stop raising and then wait six Months and get put in a penalty box and I was like oh okay And then I talk to the lawyers and they Said yeah you can't do that unless You're 506 C I said okay 506 B 506c What's the difference they said once Public once private I was like well I Have 700 000 followers on Twitter and 50 Million people listen to my podcast and I don't know any LPS except for my Friends so Yeah I want to do the public they're Like don't do it and I'm like why not What's the cost of doing 506c and they Said the cost is you have to certify Each of the accredited investors I'm like how do you certify an Accredited investor and like oh they They're accountant or their CPA or their Money manager or attorney send you a Note Caitlin is an accredited investor And I'm like Okay what else and they're like that's It I'm like well what happens at 506 B They're like oh people can just check a Box I'm accredited I'm like oh so they
Can lie they're like well I mean Basically they're gonna lie I was like Hmm uh okay so we'll just do this Certification and now it's become a Little bit of a thing my friend Sophia Amorosa who did nasty gal and Um she's doing hers publicly so she Tweets I'm raising a venture fund what That does is Um you get to meet people who you Wouldn't have met and every time I meet Someone they're like oh you're raising a Fund I'm like no I just finished But talk to me in three years uh and so Now I took it to the next level and at Lot our website is launch.co and if you Go to launch.co memo as in Deal memo Um right now Um I just wrote the deal memo here's how We're going to invest this next fund Will probably be 100 million Um here's how we're going to invest it In early stage startups and what that Does is it creates a certain amount of Intellectual honesty and rigor for me as A fund manager now listen I've already Made the money I need to make in my life But I really enjoy investing in early Stage startups so it's a passion of mine And I like to put my idea out there I Like to say hey here's not my annual Letter looking backwards here's my Forward looking and I don't know if You've sat through this LPS and like you
Watch these pitch decks I spent like the last three four months With designers on this pitch deck and I'm like All we're doing is talking about fonts And images and this has nothing to do With what I do every day it's incredibly Frustrating I'm ten thousand dollars Into this design process and it's stupid And then I send the deck to people And they don't remember anything Well I'm a writer so I'm going to write My thesis I'm going to write in Crystal Clear language as concisely as possible And then I'm going to edit it and edit It and edit it and I send this deal memo Right now and people actually understand What we're doing so why is it Controversial that you put it out there Publicly because you're one of the first No one's done it before I don't think Anybody's done it before Um I think people maybe are very Proprietary about their strategy What I've learned is if I put my Strategy out there people smarter than Me Or haters and I have a lot of those Because I got lucky and I hit like three Or four lottery tickets which people Really hate like if you are the third Investor in Uber people are like you Jason You got lucky like what about the other
Nine times yeah you're like that was Luck too Um no but what I find is people get very Aggressive to tell me when I'm wrong And I just say they say like You're fat you're old Here's a really something insightful by The way you're fat and old and then I'm Like okay I'm just gonna forget those Two other insults this is the internet And then I'm like but this nugget of Truth is really good like this is a leak In my game this is how I could be better And so I just like to take that all in And I don't feel I'm in competition with Anybody you know objectively people Would say that my fund competes with Y Combinator right and it is true we're Both in Silicon Valley we both put a Hundred thousand dollars into companies For six or seven percent But y combinator accepts 1.4 percent of Their applicants They get 20 000 each class so forty Thousand a year my firm's much smaller We're only 18 people we get 15 000 Applications per year we invest in a Much smaller number of companies 100 150 A year versus their 500 And we accept one point x percent So if you put the two of us together and You assume that the people are applying To both programs there's 50 000 people Applying and three percent get accepted
Uh or so or two percent maybe Um it's not like anybody who's an early Stage investor Could actually tell you there's a Difference between the top two percent The eight percent or the 16 percent The truth is when you have a program Like we have with our accelerator or Y Combinator it's like being Harvard or Stanford smart people apply Harvard and Stanford do not make those people smart They take smart people they don't make Them dumb and on the margins they make Them a little bit smarter I feel like we Were talking about this earlier and I Think where it is most applicable to our Industry too is just the idea of Distilling down like you're you're Interviewing you're meeting so many Different people and everyone out here If you're not looking to raise money as A fund you're looking to find that next Golden Nugget so if you had to distill Down your process what would you say is The key to success in terms of taking in All of those applications and really you Know standardizing it Yeah I I wrote a book called Angel about This Um but I've since refined it and I'm Happy to tell you exactly the Playbook It turns out that when you have two or Three founders in an early stage startup Company
Um you have less of those companies go Out of business than when you have one For an obvious reason Typically one of the co-founders will Quit Uh they'll go get a job they find out They don't like it so you go from three To two or two to one so you have Redundancy it's like a spare tire it's Um and they also will push each other Um the next is you want to have Builders You need to have builders on the core Team if you have three idea people then They're just having to hire people and They're Outsourcing so we give them Money and they just give it to an Outside Dev shop none of the knowledge Is inside the company so you want to Builders on the team maybe a developer Could be a designer product manager et Cetera now idea people are fine But the truth is there's a couple Hundred people in the room and last Night we all had 20 or 30 ideas while we Were sleeping they're called dreams some Of them might have been nightmares so Collectively we all have 500 ideas of Those ideas in the 500 there's three Billion dollar ideas in there ideas mean Nothing all that matters is execution at The end of the day if you look at a Startup company It's about a team that builds a product That delights customers and all the
Great successes I've had in investing uh Share incredibly driven resilient insane Teams That were obsessed with products and who Listened to their customers and Delighted them and everybody in capital Allocation and you know Founders they Want to talk about the total addressable Market they want to talk about go-to Market strategies competitive Landscapes Matrix all of that stuff is super Important like when you're analyzing Netflix versus Disney Plus You know or sales for our sources HubSpot But in the first couple of years it's a Much more simple process and there are Very granular things we look at one of Them is called Product velocity so of These 15 000 people who apply we meet With three thousand a year we do a 20 or 30 minute phone call in Zoom we record That phone call we take that phone call We transcribe it with AI we take the AI Transcript and we summarize it and then While I'm here in New York you know Going down to Minetta Tavern to have a Burger alone at the bar well on the way Somebody on my team will text me this Company is sick you got to hear this Boom I put it on my phone I put it on 1.5 speed and I listen to the founder Pitch We now have all of that in a database
And then we will email the founder every Three to six months an automated message Hey you met with us on this date Um and we're hoping to get an update on The business uh and by the way when you Give us an update on the business Can you rate our firm How likely are you To recommend launch and sometimes people Put a three or a four or a five because If you don't fund somebody an Entrepreneur Is going to look at you and say well You're dumb you didn't fund us I'm going To give you a five and then we say well Why did you give us a five and it says I Don't feel like you understood our Business and then I email them like if It's under a five they're like call in Jay cow I come in I email them I Understand you met with one of my Associates it didn't go perfectly Um we didn't understand your business I Apologize about that I would love to Jump on a call with you and make sure we Fully understand your vision And it's that kind of Hustle Um that we put into what we do most Venture capitalists are narcissists and Lazy and fat I don't mean fat like is in I'm fat or I was fat Um but I lost 40 pounds so I'm feeling Pretty good about it Um and so they take off like two or Three months in the summer two or three
Months and they do like two Investments A year all these management fees they're Just in it for the wrong reasons like I Would say three out of five like 60 70 Of them are just living high on the Hog On fees Um and they don't work hard and in our Company we are a Service Company we're Not the Stars we are like the Amman Hotel is what I tell my team have you Ever stayed in one of these but I've Been told I should say it in a manhood I Mean it is insane I stayed at the Iman Hotel in Tokyo and it was life-changing Because the level of service and Anticipation was incredible and so we See ourselves as a service provider To these Founders we provide them with Capital We provide them with Um introductions in a network Um and then on the margins some advice The great Founders generally don't need Much Um and then I act personally as a friend To them when they're having tough times Because it's really hard and so we take The work incredibly seriously we meet With a lot of people we invest in a lot Of people and then we track their Progress If they double or triple Revenue We put more money in until we hit 15 and So now we're starting to build 10 to 15
Positions In this incredible funnel 50 million People watch the podcast every year 15 000 apply We invest in uh every fund about four or Five hundred names and then we try to Get to 15 ownership in the top ten There's probably 20 great companies Created every year in terms of unicorns And then there's probably three or four Of them become Deca corns 10 billion or More or 100 billion there's probably one A year and so it's a numbers game yeah And you don't have to hit all of them You just have to hit one well the beauty Of the I mean what you said about your Process is that it's really it showcases How AI is completely changing Productivity Um it's wild you know I feel like I'm Using it daily I'm telling all of my Team members to use it daily I know I've Heard you say that on your podcast You're interviewing people regularly on AI which companies do you think will Benefit most in terms of margins or just In you know industry in terms of Productivity and the use of AI so AI this is the fastest Pace I've ever Seen in my 30 years in the industry Um if you look at the other platform Shifting changes the internet Cloud computing mobile Um I think this will Trump all of them
This is the crescendo moment of all of That Innovation and it's moving at a Pace that's faster than I've ever seen The Innovations in Mobile or cloud Computing would happen every couple of Months The Innovation is happening in AI are Happening every couple of days and the Reason is the people who are building AI Are using AI to build AI which is Creating a loop of speed That is truly unprecedented Um I asked that my three guests last Week Brian chesky from Airbnb Aaron from Box and Reid Hoffman from LinkedIn how Much faster are their teams would be and They said oh it depends on position you Know it could be 50 faster 20 faster and I said in 2023 they all came to the Conclusion that their teams would be 30 To 40 faster At their jobs information workers now For programmers They're going 50 60 70 faster not the Best ones but the weaker ones because Programming is a limited set of words When you type it knows what you're Talking about and it's going to fill it In it's a constrained data set Um and so they're doing great sales People are doing great writers are doing Great Um accountants lawyers all of that and So what I predict will happen is
Um there'll be one group of people which Embrace this and use this technology Every day they will get 30 to 40 percent Faster at their jobs every year which Means every two years uh they will be Twice as good at their job I think there'll be a group of people Who will not Embrace this just like we All know people who wouldn't use PCS or Microsoft Office or email or the Internet and they retired and they were Worked out of the workforce Um you know might have taken 10 years Back then for somebody to you know you Know everybody had that like two guys in The office who refused to have a PC on Their desk and their assistants printed Out the emails they were old school took Them 10 years to leave and they kind of Got pushed out this is going to happen In 10 months if you're not using these Tools you'll be out of a job in 10 Months I predict if you're working on a Computer for most of your day Um and it's not meant to be hyperbolic Um I think it's going to make every Company Uh two or three times more efficient and Capital efficient so for startups that Means one set and for big companies it Means another set of complications Um but it's happening whether you like It or not the number one thing you can Do how many people used chat GPT in the
Last 48 hours raise your hand High great It's half the audience used in the last 48 hours and Google bard is pretty Impressive as well I mean this stuff is Moving at a fast clip Um and For startup companies You know it's going to drop the cost of Starting a company by 50 percent For the large companies I think Google Facebook Tesla maybe not Tesla because Of the factories Um Uber Etc I think they will be on Hiring freeze indefinitely They're never going to hire more people We could be sitting here five years from Now and the number of employees at Google will be the same So just let that sink in for a moment Um it could even be less and their Revenue will grow 20 a year So the revenue is going to Triple every Three or four years and their cost is Going to stay the exact same how is it Possible well because they're getting 30 Percent more efficient every year They're not going to add people so right Now those large companies can have 500 000 to 2 million dollars a year in Revenue per employee they're going to be Doing four five six maybe even 10 Million dollars in Revenue per employee And that's how the world's going to Bifurcate very quickly uh and you're
Either going to be part of that massive Massive earnings uh that are going to Explode at these big companies Um or you're going to be left behind now The good news is The problems that exist in the world the Number of problems is enormous And so This isn't going to be cataclysmic for Humanity In the short or midterm I I can't tell You 10 or 20 years from now when we have AGI you know General artificial Intelligence what's going to happen but Let's just say the next decade Um you know I'm pretty convinced that What's going to happen is You know this app that was too small or This piece of software that wasn't worth Funding is going to be done by two People and get to five or ten million in Revenue so it's going to be amazing for Humanity everybody's going to become a Superhero so you know if you weren't a Good writer or you weren't a good Designer you're going to be better than The great designers are today so just Let that sink in uh how many people in Here Um are developers who codes raise your Hand really high Or as a data scientist either of those Two okay it's like five or six people It's very small percentage it's okay
Everybody in this room will be a data Scientist and a developer within the Next 12 months because you all you Everybody in this room knows The programming language of the future It's called English And you're fluent in it if you're here In all likelihood and listening to me or You're doing a great job faking that you Understand what I'm saying Um There are people working on ux where you Can talk to and say I want an app that Looks like uber Um but more colorful and I want a login Screen Um that lets you put your phone number In and let you authenticate with your Google or Twitter account and it designs It and you're like okay you've seen it Crazy yeah yeah and then there's another Group of people who are working on Software where you say make me an app Like uber where you can track a cab with GPS and you can log in and it writes the Code and those two companies I've had on The podcasts like multiple companies That do this I've taken pictures from a Dozen of them and I'm like Can you just merge these two companies And just publish the code so that's Coming and um it's going to make Everybody a data scientist you're going To be able to upload a data set and say
Tell me what trends you see in this data Set and it's going to give you Transit Say that show me what what chart should I make of this data and it's just going To give you the charts so the idea of Going to you know somebody in your Company and asking for those charts Um is going to be silly so everybody's Going to be a data scientist everybody's Going to be a world-class designer Everybody's going to be a developer Let that sink in and imagine a world Where everybody in this room could Create an app this weekend everybody in This room could create a beautiful Brochure and a design and a logo and Everybody could write you know beautiful Copy you know it's literally a Completely months away well Jason thank You so much if you haven't listened to His Brian chesky podcast you definitely Should it's one of my favorites it looks Like Ron's waving his hand I don't he Has no voice so I don't know how he's Going to be able to ask a question he Wants to ask a question okay He's asking somebody else to ask a Question asking is all happening in real Time Vern Bratton okay celebrities Online connections Okay one question I like it we'll take One question from the boss Suspense here wow I'd like to get a guy Who I could whisper to know yell out
Question but I want that all right Vern Let's hear it So early stage which I'm in uh will uh Be able to get that 10 or 15 percent I Think people doing the serious C and D Rounds it's a great question Um the people doing the C and D rounds The late stage they might be a little More challenged because startups will Not need as much capital and so I think The Venture tourists Who came into venture over the last Couple of years and thought Capital was A mode and they could drop a hundred Million or 200 million into a startup The founders may not be down with that Anymore where they might just want to Sell you some shares so yeah venture Capital Should never have gotten as big as it Was it is a boutique industry that Requires small amount of capitals and Small amount of capitals create Constraint and constraint makes for Great art Founders should not have five Years of capital artists should not have Unlimited canvases and paint filmmakers Should not have unlimited film stock and An army of actors you need constraint You need the pressure that creates the Diamond And that's why the last three four five Years in Silicon Valley were so wasteful And so destructive and so fattening and
Made people lazy and now that it's over Oh my job is so wonderful because Everybody's starting a company is dogged And hardcore and they don't want a lot Of money they want to just get a chance And they want to work hard and we don't Have all the tourists both on the Investor side and we don't have the Actors pretending to be founders Everybody thought they were a Jedi Knight the last five years and now They're all dead and they're all their Arms have been cut off Luke Skywalker You know and Obi-Wan Kenobi they're one Percent of the population Founders are One percent of the population the great Ones and we funded another 20 they Should have never been funded and now We're back to basics in Silicon Valley Fund less companies more Focus less free in the office less unlimited Vacation less nonsense and just more Team product customer That's it that's the flywheel everything Else is nonsense and a distraction and Uh you know it's the greatest job in the World what I do and I really appreciate You inviting me Ron as well thank you so Much for being and it's been great to Meet everybody thank you for having me Great thanks so much Jason
