YouSaid · the spoken record

David Goone

lines on the record: 81
first: 2024-06-24
most recent: 2024-06-24
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“It's really easy T Z E Ro.com and thanks again for all the time Jack. I hope it was informative and yes some great questions.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“That is absolutely in all circumstances a good piece of advice to do your homework, and I endorse that. Well, David, I'll leave you with an easy question. Where can people find more about you and T-Zero?”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Know, I wouldn't say infinite, but really broad in the main television, you know, when I was growing up, there was ABC, CBS, MBC, public radio, maybe a local channel and PDS, right? Now, I don't even know. There's tens of thousands of probably choices of channels and people find their interests. And I think that's the way it's going to investments will continue to be. But the only thing I can caveat to everyone is do your homework”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Know 25 years now, at least and does it very well. So, you know, we have the technology, we do it pretty easy. You just go on the internet and log in and once you're a customer, you can trade. And it's interesting that's changed dramatically over the years, even 25 years ago. Just think about it. You still had to call you a broker. They did everything for you. You couldn't do anything yourselves. I mean, it changed in the last quarter century has been remarkable. And I think that'll, you know, back to your earlier question, I think that'll just keep advancing. As you could see, people are, for better or worse, taking more control, I think, in general of their finances and their ability to control it. And I think their opportunity.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Explain you to that versus the old, it's not well, nothing's easy, but there's We're a broker dealer. So that's pretty, but we have an automated trade ATS. So think of we're a trading system not too dissimilar than New York Stock Exchange as a trading system. Actually, they have a different one for their derivatives trading. But basically, we provide a matching engine for bids and offers to match and then get, for lack of a better word, cleared. And we operate We have the ability to put things up on the blockchain at the end and we have at the end of the day and we have, you know, To do it robust and do it well, it takes some work. You know, the New York Stock Exchange and ICE has been doing it for”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Got it. I'm a finance guy, not a tech guy. You are a finance guy and a tech guy. Tell us about the, you know, explain it in a relatively simple way, the technology that allows the trading of this stuff. And you said some, it wasn't jargon. To me, it sounded like jargon before. And could you just break that down and explain that versus the old.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Right, but once after, you know, without getting into it, basically, after a year after it closes, then it'll be open to everybody in the secondary market, not in the initial”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Year after it's been listed for lack of better word, not listed after the offering's been closed and live after one year retail investors can buy fractional part of the shares. So it does get open to everybody in that regard. Of course, we go through all the KYC and AML and all those things, you know, no bad actors, all that type of stuff, but that's who it's open to. And it's asset specific, who can do it. So some assets are for accredited investors and some are for retail. We don't do it, but if you wanted to buy a baseball card, that's, you don't have to be an accredited investor. You want to buy, I believe RSRV is accredited investors.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Credit is you have to And then there's retail, and then there's retail. What I mean retail, just anybody, I shouldn't say retail. So it depends on the offering, and you look at the offerings and they will. Basically, say which type, and it's offering dependent, which is what comes to our platform, whether it's in primary or secondary. Typically in the secondary, it's been out there for a while. It's open to retail. So once a reg D for the credit investor has been.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Who can invest in these securities that you're listing? I know there's an accredited investor as well as a qualified purchaser and accredited, you have to have a certain amount of money, certain amount of income. Qualified, I believe, is either. And there's”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Right. I mean, what we do is we can point you to the PPM, the private place in the memo. We can tell you here it is on here and then it exists and you should want to look at it here it is. But we're not the one pitching the details and saying this is a great investment and you're going to make a whole bunch of money. But I will tell you there have been plenty where like we just don't want to deal, you know, the people have come in the door and said. Know this isn't going to pass the smell test not only for us but for the sec and thank you but you know no thank you We're not going to do that. And look, on every stock exchange, not every stock's a winner and not every stock goes great. You know, that's just there's winners and losers in all companies.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“So if CEO A is raising money via Goldman Sachs and then that's listed on New York Stock Exchange, you're saying you're just the New York Stock Exchange and the tech, it's up to the CEO and the people at the company. As well as Goldman Sachs to do the marketing of the deal, that's not your job.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Luck could get sprinkled in, and you're on your way. So that's, I guess, how I would respond. And I don't take it personally. I hope you challenge everyone who comes on. But once again, I'm not pitching any product per say you should read it, ask, get the prospectus. I know regard RSRV. I think Stefan de Betz is an interesting guy who does, he can get into all the details much more than me of his own offering and why he thinks it's a good deal. I personally think it's a good offering, but that's just me personally. That should have no impact on what anyone else says or does. So I'm not the investor should do their homework. But if you're talking about that one in particular, he's the person to ask all the details.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“For the investors. And ultimately, though, they have to do their due diligence. I'm not pitching any stock. I'm not pitching. You have to do it at night. Recommend that all the time. I mean, I'm always shocked that people don't read prospectuses, that they don't read the statements you get from your brokerage accounts. I mean, there's tons of information in there. And people should always”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“By the book, by the regulations. And I agree with you. When you first walk into the crypto world, it was, to say it's the Wild West when I first saw it is an understatement, you're like, what is this? And we're not doing any crypto right now. So for lots of reasons, many of which you just denunciated. There's just a lot of reasons that I have no desire not to do something that is, you know, I'm going to do my best efforts. I believe I'm honest. I know I'm honest and I'm forthright and I'm going to do the best I can.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Couple things. First of all, I just want to make it clear I'm not selling RSRV, that's someone else's. Now, we betted the product and we think it's legit otherwise that it meets all the regulatory requirements for the PPM and we put it out there. But I'm not the one selling the product. I'm providing the platform where we're a broker dealer and an ATS, an automated trading system. We provide those things. I'm not trying to sell the product. I'm just explaining a product that's in a, I think is innovative, that is listed on our platform. That's number one. But any startup, you know, any company that's in the financial, you know, any company, I shouldn't even say in financials is, look, starting companies hard, it's not easy. There's lots of work. All I can tell you is the way we're doing it is we're doing everything we can.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“As I understand it, and you should read the PPM because it's not my offering, it's theirs, but my understanding is this is not going to be changed. That's the whole point of this security is that that is locked in. Now there's different seasons for different rates, and that's all on the PPM, but the rate is what the rate is. And that works. Now, remember, from the hotel operator, I'm not saying it's him, but any hotel operator, if you were paying, and I'm not saying they are, but let's say you were paying 14%, this is still a really good source of capital, and I believe they're all non-case non-voting shares. So you get some equity that can be bought and sold in an easy form of capital, a cheap form of capital, at least while you're operating the hotel.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Case of Aspen, maybe a whole skiing experience, or maybe it's a concert held at the venue. There's just lots of different things you could get in addition to the equity that you own. So that's the concept. And launching with a real premier property, obviously the San Redis Assessment, the goal is to add a bunch of hotels on, which we're keeping he's lining up within RSRV.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“It was $1,200 on the website, just hypothetically. On T0 and then convert that to a hotel room as opposed to paying the $1,200 directly. So it's an interesting Wait for them to provide, or maybe it's $1,000, $1,100, but it's $100 difference. And you can, it makes it more efficient to buy the shares and convert than to just go buy the room. So that's the concept. The other concept is looking at some of the other hotels we're looking at is, you know, right now there's this big private club experience that's going on, particularly in Manhattan and London where you join private clubs. You spend a whole bunch of money and then you get to go to an exclusive club and play for a nice dinner, whatever. You could also do this with the RSRV concept with hotels where, you know, if you own a certain number of shares, you'll get access to private dining type or other member experiences, private club type environment or exclusive environment.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“A hotel room at certain part of the season is a thousand dollars a night. He's listing the RSRV at $1 a share. Let's say you buy 25,000 shares of RSRV, he's going to guarantee, let's say, 800 shares forever will be the cost for that room. So in 10 years, if that's $3,000 a night, you can just turn your 800 shares if you'd like into a room. You could take 800 shares and convert them into a room on the RSRV website. And ultimately, the goal would be get a whole bunch of hotels up there and start getting some interconnectivity basically with ratios and all those things between various levels of hotel. So what's really interesting is there's two things you get the experience, you can get the equity ownership. There should be a decent secondary traded market where you can go, let's say in a year from now, let's say.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Equity in the St. Regis. And over the last, I think it's been on there a little over five years, it's probably come close to tripling in value, but no one has really, it hasn't been liquid in the secondary market. Everyone liked it. They just bought and hold. No one wanted to sell. So he came up with this idea, what if I incented them to have it more of a trading type market on the shares? So he came up with the idea saying You can buy the equity, but I'm basically going to give you a floor in that. You could take your equity and exchange it or trade it for a room. So he created this concept for RSRV. The first hotel is the St. Regis Aspen. And what he's going to do, what he's doing, it's just now in its primary now on our website. I'm just not going to use exact numbers, but let's just say.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Yeah. So, what it was they were getting, they made it not just the bank loan, you know, to purchase the property, they needed operating capital. So the bank isn't going to give you, typically a bank isn't going to give you. So he had the idea of saying, why don't I sell instead of using that mezzanine capital, why don't I sell interest, you know, fractionalized interest in the hotel. So equity, right? pieces of equity. But what you felt like what would entice the person to buy that equity? Because who knows how long he'll own the hotel, he originally listed”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“For the audience, so there's equity and then there's debt, debt is obviously senior in the capital stack to equity, which gets paid first. But within debt, there's super senior, which is secured, to bet, is secured by the companies, all the company's assets, lands, cement. As implies, you know, like Intermezo or whatever, it's in the middle, it just Higher in capital to the equity, but less to the other forms”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“People were paying $12, $13, $14, or even not being able to get it, high interest rates on the capital, their operating capital from Mezzanine financing.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“So that's an innovative one. The Aspen Hotel in the St. Regis in Aspen, which is a premier hotel in Aspen, the owner-operator guy named Stefan de Dutz, had a great concept. So the hotel business in general, as I understand it, and I'm still a novice in general about it, but when you buy a hotel, you get a loan from a bank, but you also need to fill your rooms. you need to pay your staff. I mean, you have the ongoing operating costs. The bank isn't going to just give you money unless they know you have a whole bunch of money set aside for operations for at least a pretty decent period of time. So a lot of hotels get their capital from mezzanine financing. And that can be very high. I mean, it was one thing when interest rates were almost zero, but as interest rates taught.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Look, we bet, and I think it's good. I don't like comparing stuff to SPAC, but I would just say it's just a lighter version of what a public company's public filing would be before going public with enough information. And look, people should question everything. And that's what I do even when I buy public stock. Yeah, you're not just going in and saying, hey, I want to buy part of XYZ, you know, or whatever. This athlete, you're still going to see, you should still read and understand the structure and how you get paid and all those details will be an excruciating detail in there, right? Just because you like the athlete doesn't mean you should invest unless you understand the mechanics and how you get paid, right?”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, for most of the products, yes, there's a document that they have to go read through. Similarly, I call it a little SEC light, not as fully as a full prospectus for a company going public on the New York Stock Exchange, but absolutely”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Promoter and not all, but for the promoter and the investor. Yeah, we try to look at good products. We like interesting products. Obviously, there'll be basically prospectus of each thing and people have to read through it and everyone should do their homework and make the decisions themselves, whether they think it's the appropriate thing. And we do things for the retail investor, but we also do things for the accredited investor. Either way, do your due diligence and know the risks. I mean, people, I always find it funny even with stocks that people don't read prospectuses. They don't read all the regulatory filings. I mean, there's a lot of information in these things. And trust me, as a company that was public, there's a ton of work that gets done to put in a lot of good information at those things that people read.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Think, and I think it played out, even when they came out, there wasn't good alignment between the investors and the people putting together the deal. And when it gets that skewed, look, it can be out of line a little. I think that's in general, you know, part of the way, you know, the markets work. There's a little extra incentive on the people putting together deals versus the investor, right? But I think that was skewed so wildly not in favor of the investor that that didn't work. So that just might have been in general, not always, because there were SPACs before the SPAC craze and some did very well. I think there was a rush that many of those were just out of askew in terms of the risk reward for the”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Well, we always try to vet the companies for lots of reasons, partially, you know, A, it's the right thing to do. B, you know, we want to follow the flaws. So we have to vet everybody. But we try to do, of course, no one wants to do good investments back on the stack, and we can have probably a whole podcast on that. I just think the way the structure of the SPACs were, the investors weren't in.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“That's totally up to, so that's typically totally up to the private equity fund. So it's a large one with lots of investors. They typically open it up to other LPs that may not be in that series. Like, you know, I'm in some whatever, series three of this one, but I'm not in series two or one. That would be great if I was in series two or series four. So it's probably in many cases existing LPs and other investments within that private equity firm. If the private equity firm wanted to bring in more LPs, we have a structure for that, but then obviously just like anything else, they'd have to vet it. I'm not going to get into all the machinations of it. That would be up to them.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Someone else, though. I mean, look, there's some private equity I'm in that I, you know, some people just time out. They age out. They're older for whatever reason they want to get out. I mean, there's some private equity investments I've done and others done. I'd love to get more of if I could. And there's some that I would want to get rid of not necessarily for costs. It's just like, all right, I've been in this for enough years and I have, and I'm making a good return, but I have another investment I may want to take that capital and put it in. So there's a lot, but that's a product yet to our way to rolling out. It's not quite out yet.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“They may not be the firm coming to us for using the product would be my guess. But if they did, that would be up to them. If they felt like they could get buyers and sellers to transact at a lower price and that's what they wanted to do, I think there's a whole bunch of. Issues involved in that and not ask about what the value is of editing, all the consequences, but that wouldn't be the customer base we would be targeting or they wouldn't be coming to us most likely the case.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“This is up to the private equity firm, right? This isn't going to be for everyone, but I don't want to give away all the tricks. But the private equity firm in our model would be in charge of setting the terms for the liquidity. So, you know, there's one, you know, there's some evergreen ones I'm in that I get in and it may take me two or three years to get out, even when I say it's good. And let's say they're earning really well, really high rate of return. If I could get out in a month and then the next guy comes in and is going to get the evergreen of the above average returns. That's fantastic. You know, for it's a win-win for everybody as long as the private equity firm is comfortable with the price that's transacted. And I think that's all part of that solution.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Private equity I think part of the appeal to some people for private equity is that it is not liquid, even though liquidity is generally a good thing. If you buy an asset for $100 and the actual value of it goes down to $20, you don't want to know. It can be comforting to still have it marked at $100, even though eventually, right.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“You need the money if we could provide a mechanism for some liquidity in private equity investments, which we think we can, that's one thing. But in general, it's more companies, some specific real estate type properties or some of the sports art and entertainment stuff. That's kind of where our focus is. And it's both white label and on our website.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“We're focusing on non company assets, but we're also focusing, I would say when we get into real estate, we have a bunch of real estate deals, it's more on a deal per se in general, not necessarily a deal fund. What's interesting, I think for the private equity side, which we're working on, which is interesting, is potentially a way for people in private equity to get some liquidity on a regular basis. And I haven't rolled it out yet. I've been working on it for a little while, but we have that. We're very close to rolling it out. That's a separate thing, which may go to VCs and private equity. So, you know, I've invested in private equity. Sometimes you're sitting on these investments for 10, 15 years even, you know, when you originally think you're getting in for five. Not that they're bad investments, but whatever things happen in your life, life, death, you know, divorce, death, you know.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“How much are you focusing on companies, for example, getting involved with venture capital firm A wants to sell it, sell their A round and venture capital wants to B round? How much do you want to get involved with that or even private equity versus the non-company assets such as hotels, horses, sports?”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“That's basically the security, you know, you're not buying it for use. I'm not buying, you know, I'm not buying it to use it. I'm buying it. The purposes of an investment. I'm trying to buy it for X and sell it for X plus something. You know, doesn't always work that way, but that's what the goal is. So that's the security.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Depends on how it gets listed. I mean, how you present it. If we're presenting it to the public like we are, these are securities. Our venue is securities only venue. Depending on what you do, you may even file like a version of what you would file with an IPO with the lighter version with the SEC Infinra, or in some cases if you don't have to, but they have jurisdiction over it. And we follow all the rules and regulations. I mean, we have great security. Lawyers on staff that do a phenomenal job. And we follow all the compliance. But we feel that's the way you need to do it. I think there are some assets when you get into some of these other ones where people aren't doing their due diligence and don't realize these are securities.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Most of the products are going to be working with are going to be securities. So I know stocks are securities. I know, for example, a hedge fund is a security, but it's an unregistered security. And for that privilege, that's why hedge fund managers have. Very strict rules on what they can say. Are private businesses such as when people raise money for venture capital? Like let's say when you go in Shark Tank, when Mark Cuban buys a piece, is that a security? Like, I really don't, I really don't know.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Their website and do it, but they have to promote it. But we actually provide the mechanism for them to do the primary offering.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“And then it got listed. So, no, we're not Goldman or that. So when someone comes and does something here, the CEO of the company and the company has to promote the product. And they can do it a lot of different ways. So we could trade it on our system or what we call white label it on their system. So let's say you had a website that had a lot, a lot of traffic. It'll look like it's on their website. It'll actually be linked to it'll be white labeled. It'll look just like it's on their website. It'll actually be our system. It'll say powered by T0, but they'll sign up and open and be able to invest directly on their website. So that's one way to do it. Or you can do it on our website. It depends on the amount of traffic somebody may have or how they want to conduct it. But if it's somebody who has hundreds of thousands of views every day on their website, I highly would recommend they do the white label solution where people would go to.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“So when you do an IPO actually, I always tell people, and it's the same thing with, it doesn't just happen. You don't just list it and wow, everyone comes in and buys it. Even when I switch was an extremely successful IPO, I believe the stock more than doubled on its IPO. That was Jeff going around with our CFO and others for like for months and months and months and months going to groups of investors and drumming up demand with your investment bankers. So when you went public, there was already a book. There was a demand.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“No, I think the goal is to have the access to the product. That's the first thing. So, one thing we did is when I came to T0 was only secondary trading. So I had to revamp all the technology. So we added primary trading so you can think of that as like the IPO and then you could trade the stock afterwards. And we're good at secondary trading, but you need primary and secondary kind of joint.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Investors, there are also people who are potentially customers, right? There are people that may go to your games or that you can market to for a variety of other reasons because you'll have direct access to them as opposed to if I buy Apple stock or Disney or whatever, you know, you have to go through a whole bunch of senior mediaries because they only know your brokerage. They know you may be at, you know, Charles Schwab or E-Trade. They don't know Jack Farley. They have to go through a whole bunch of other machinations and pay lots of money before they can ultimately send proxy information to you, let's say, if there's a thing they want to get voted on. So it's a lot easier in our model. to get to that.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“That's what we're doing. It doesn't mean that's all we can do. That's what we're currently doing, that it falls under SEC and Finro. That's everything that we're doing. It doesn't mean that's all we can do, but that's what we are doing. You know, one can argue a lot of things in the crypto space and the NFTs, a lot of them sure look like securities. And obviously there's legal cases or the SEC's going after some people because they share that view. There's lots of reasons for that. And then there's other reasons to go our way. Let's just say hypothetically you're a sports team. You can fractionalize it. We can put it on the blockchain. If you sold a small portion of it, the other nice thing you do is you know the beneficial owner directly. So you could, if you wanted to, the way you set it up, you could actually, not only are they in.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Have being a publicly listed company. You also have to have to be a certain size and there's lots of things. And this also could be a stepping stone before you get there. So those are kind of the reasons, but let's say we were doing horse racing and you were buying a horse. I mean, that wouldn't be listed on there. I mean, first of all, there's a finite life to the horse. There's a finite, you know, all those things, you know, same with an athlete. Those things wouldn't last forever. There's just a myriad of reasons, but it doesn't seem you can't make an investment and potentially make money on, which is why there are securities and all those, you know, why they did.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“Not everything can, but let's take even a piece of art, right? You're not going to have a piece of art be a publicly traded piece of equity for a variety of reasons. That would be simpler. And they're going to have different things. Why is some private equity investments not public stocks? So real estate or a hotel, which we can talk about in a minute, like you're not going to buy. It doesn't meet all the listing requirements for, let's say, in as broad a based audience potentially. Maybe it's actually, I shouldn't say broad a based audience, but it just won't list all the listing requirements. And there's also, you know, being a publicly listed company is fantastic. It's the American dream, but there's also a lot to it and a lot of work. And you can do things privately with work and still follow all the SEC rules, but not have all the requirements that you have.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT
“On their own. And the assets will be out there that they couldn't normally get before. So you won't have to be a super high net worth individual to invest in some type of real estate or some type of or a picasso or you're not going to be able to buy a sports team, but you might be able to buy a piece of a sports team or you might be able to buy a piece of a painting or a piece of a of an athlete or a piece of music, not the whole thing. So that's kind of the vision I have had and that's what we've been up to. And I do think 20 years from now, people I'll be investing in even more and more broad-based assets.”
2024-06-24 · Forward Guidance · The Next Big Thing In Capital Markets | David Goone · IDENTIFIED FROM THE TRANSCRIPT