Fund Launch Live - Bridger Pennington's Presentation

fun Lords live get on your feet put your hands together and help me welcome to the stage Bridger Pennington [Music] [Music] [Applause] how&#39;s everybody doing today all right [Applause] you guys ah welcome in welcome in take your seats wow we made it huh we are here um everybody throw anybody&#39;s ever thrown like a party at your house before or something and you worry if people are gonna show up we you guys cave so anyways we&#39;re here it&#39;s awesome um welcome to phone launch live it&#39;s amazing um I just sorry I lost backstage I was tearing up watching that video um it&#39;s just amazing um and that video and all the confidence to this group and it&#39;s a reflection on us as a group and what we can do and what we can go after and what you guys can do and um I was just I&#39;m Blown Away I&#39;m blown away this but what we together have built and I feel like this event feels a little bit like a family reunion sometimes there&#39;s people on Zoom I talk to a lot of you guys I talk to on Zoom we meet up whatever but it&#39;s fun to come back in person from last year to this year and see oh what&#39;s the update what are you doing oh we raised money we&#39;re doing this fun it&#39;s pretty awesome it&#39;s just remarkable to see what this group has done so and we&#39;re just getting started hey we&#39;re only we&#39;re only just getting started on this so give a huge round of applause to you guys for all the stuff this group has done is amazing um ah this is phenomenal now uh yes I have a beard um I saw a quote from Alex or Mosey uh online I thought it was pretty good for me it was this quote right here it says if you&#39;re an ugly dude consider a beard leaves half your face to their imagination so here we are with half my face to your imagination um which is pretty fun so we&#39;re gonna have a great time uh the next three days I promise to go all out I promise to I&#39;m gonna give you our full everything we&#39;ve got does that sound good I&#39;m gonna play all out um now Devon talked about this a little bit I&#39;m gonna do the same with Devon we&#39;re gonna try to keep the energy high in this room I&#39;m gonna do callbacks I&#39;m gonna be asking if you&#39;re there Etc and I&#39;m not doing it for me just so everyone&#39;s aware so I&#39;ll be like if you&#39;re with me say yes okay that was awesome that was really good the reason I do that just so you&#39;re aware there&#39;s some people in this room like I&#39;ll never do that psychologists tell us if we show up to an event like this and we just sit there and listen you remember long term about zero percent of what you listen if you actually take notes we actually when you checked in we gave you notebooks all that kind of stuff you take notes that jumps from zero to about three to five percent so 35 that&#39;s pretty good of long-term memory what you&#39;re retained if you use your body and voice and energy that number jumps to about 15 to 20 percent which you retain long term Who&#39;s down to get to 15 to 20 yeah okay you&#39;re with me say yes okay so I&#39;m gonna do callbacks like that we&#39;re gonna do stuff and it&#39;s not just I mean it is fun to do but it&#39;s more to help you be engaged I want your time is very valuable it&#39;s the most valuable asset we have is time so I want you to be here present and using the best of your ability for all this sound good okay it&#39;s gonna be a fun uh fun three days so I want to talk about a few things we&#39;re going to Dive Right In is that okay we&#39;re gonna Dive Right In we&#39;ve got a bunch of fun stuff planned I&#39;ve got a fun session here I want to go deep on funds I want to share a set of good groundwork um a lot of you guys maybe have heard some of this stuff but I&#39;m adding a ton of new examples and new things in here to help go from there sound good now I think I love this I think we romanticize the small business owner a little too much who owns a small business yeah a lot of people in this room now I&#39;m all for small business you hear about in the politics news we&#39;re trying to protect small business owners Etc I think we romanticize it a little too much meaning like being a small business owner in itself is awesome but it&#39;s a step to another further thing if that makes sense um Stephen Schwartzman co-founder of Blackstone said this so 400 billion anybody know Blackstone in here I mean huge group right we&#39;re gonna talk about a few examples from Blackstone in his book he talks about this he goes it&#39;s hard to run it&#39;s just as hard to run a small business as it is to run a big business it takes about the same amount of work takes everything you got can I get an amen on that for my small business owners right amen it takes everything you got so he goes if you&#39;re gonna be into business you&#39;re gonna take everything you got you might as well go after a business that can be big and make a lot of money and has lots of margin it&#39;s a fantastic book called e-myth that talks about this a lot of us small business owners we know we wake up we&#39;re in a bakery we&#39;re making the bread we have to wake up we do the accounting we do the marketing at late night we stay up we make sure the numbers the QuickBooks is done we do everything right and we become slaves to our business so again I think we romanticize the small business owner too much is that kind of making sense the idea is not to be a small business owner anymore it&#39;s to be a big business owner right and have huge markets a lot bigger things so um a really interesting book anybody heard of this book 10x is easier than 2x so I saw this book and I thought that&#39;s kind of a Cheesy title the 10x you know thing like oh your 10x just set your goal 10x is like okay but I loved his Concept in here so uh Dan Sullivan goes through he goes 10x is easier than 2x with this whole concept now in this room if I asked you show me some write down ways that you could 2x your business over the next five years think through actually let me think right now think of some ways you could 2x your business over the next five years probably a lot of ways you run ads you could do a marketing you do an affiliate program you do all this cool stuff there probably is about a hundred things you could come up with right to 2X or incrementally increase your business but he goes if I told you what are ways that you could literally 10x your business in the next let&#39;s call it three years how many ideas could you come up with and most people go from a hundred ideas down to two or three does that kind of makes sense and actually I read this and I I was like huh and it stuck with me at a late night I was thinking about it we had in our I was like guys we got to stop thinking of there&#39;s it&#39;s it&#39;s great don&#39;t put it away but these are all incremental games we could add an employee here do this little thing it&#39;s going to incrementally grow our business but what are the one or two things that will 10x are literally go from 10 million a year to 100 million a year that&#39;s a big jump 100 million a year to a billion a year that&#39;s a big jump there&#39;s probably only two or three ways that we could get there and instead of trying to chase a hundred rabbits and catch 100 rabbits at once you catch one or two rabbits is that gonna make sense through me say yes okay so and he has this coin here he goes achieving 10x growth is actually exponentially easier than striving keep striving for 2x growth this is a reason a lot of the small business owners stay small business owners because they don&#39;t set the plans and processes to hit that 10x is that kind of making sense that was a pretty concept I&#39;ve stayed with now most businesses today needed significant Capital to grow all these logos on the screen you go watch their story the way to get that 10x growth was they needed a lot of capital to grow franchise to new products new development Etc does that kind of make sense Capital was a huge piece of Leverage um Robert Kiyosaki coined this very well but this has been taught for centuries in business here&#39;s four different types of Leverage in business um different ways that you can use think about a lever right you can leverage your business in different ways number one so this is in Rich Dad Poor Dad but it&#39;s across Across the Universe of business number one is capital capital is a huge leverage point of business number two is people so human capital major major lever Point number three is technology and number four is Media so again think about leverage those are the four Mains leverage points that any of us can use in business does that kind of making sense so you can leverage the media think about like Ryan Reynolds have you seen all these these actors that are using um alcohol just drastically they&#39;re like all of them now have an alcohol or a brand that they&#39;re taking and then they exit for a billion dollars you guys seen this the reason the alcohol company does that is they go find an actor let&#39;s use media as a leverage point we&#39;ll make this a billion dollar brand we&#39;ll give that person 20 equity may take 200 million we take 800 800 million that&#39;s they use leverage they leverage media technology people Capital Etc that kind of make sense through me say yes so um now oh let me go back a little bit the um the top one here capital I would argue is the most important for the rest of the three if you have capital you can leverage all the other three if you don&#39;t have Capital you can still leverage them it just is a lot harder does that make sense if you have like a fund tons of capital you you can leverage media a lot easier you can go pay Ryan Reynolds a huge check right you can leverage technology you can buy big Tech stack whatever you&#39;re going to use in your company you can go higher a whole Army of people to if you think back to these companies before that&#39;s what they did they leverage capital right let&#39;s hear it go back on a to a huge extent to scalar companies does that kind of make sense so the next three days we&#39;re going to talk about leveraging this piece the most of capital so welcome to fun launch live this may be the most important conference you ever attend for all your business Etc in the future sound good so give your guys a huge round of applause welcome to fun launch live [Music] now I hope this event is what we call an event horizon an event horizon in my terminology is a moment in time think about like a peak you remember everything before that moment and everything after that moment I&#39;m guessing thing in your life there&#39;s probably a few things in your life that are event Horizons maybe you met a person and you remember everything before you met that person everything after you met that person but you were a changed person after you met that person that kind of makes sense or there was a moment or a thing that just changed Who You Are I might actually want to share one that happened with me and Mason um a few years ago this we actually attend an event similar to this one as an online marketing one and here&#39;s a picture we got uh in 2019 with Russell Brunson anybody know Russell Brunson go Russell we love Russell he&#39;s awesome um we&#39;ll talk about him later today actually but this is event 2019 we framed out everything at the event so we attended just like you we sat down I was taking notes all day at night we go to our hotel room and we were mapping it out we were going like everything we have today at fun launch we mapped out in one way shape or form at that 2019 event it was an event horizon for us I mean it changed I literally was that I came to that event and I was a changed person after I knew after I left those three days I was there I said I am going to do business differently I&#39;m gonna think differently I&#39;m gonna play bigger I&#39;m gonna have a full different mindset and I&#39;m hoping something like that can happen here last last stage me and Mason were talking about this and this whole story and I was thinking about this group that was coming today and we had a sold out crowd and it was it was just amazing and I thought I&#39;m basing I was kind of asking the question like who should I base my talk to who should I speak to should I speak to people that already run existing funds people that don&#39;t run funds yeah people that don&#39;t even know what funds are people the first time here people that were here last year like who&#39;s my direct person I talked to and we finally came to I said I&#39;m going to talk to my 2019 self I&#39;m going to talk to my younger self and I&#39;m hoping there&#39;s one or two people in this crowd it&#39;s like a younger me whether that&#39;s actually by age or by in business or this category or whatever but can come and say I&#39;m gonna have an event horizon everything&#39;s gonna be different after this event is that going to make sense yeah through with me give me an Ura all right so actually following that up we actually joined Russell&#39;s group it&#39;s 150 000 we paid him just because we felt so indebted to him I was like Russell we just thank you so much for this and what you did we paid 150 Grand to join his group and by the way I know there&#39;s some people in this group like I would never pay 150 grand for something right the way I think about it&#39;s like well if I pay 150 Grand I get back 300 000 or 400 000 or 500 000 I&#39;ll pay 150 grand every day of the week yeah raise a hands who else would do that if I said pay a million but you&#39;ll get back 3 million who&#39;s gonna take that deal I&#39;ll take it so the price is obsolete right it&#39;s more about what am I going to get back and we want to take fun launch to a billion dollar company and he&#39;s already done that so we said hey why don&#39;t we join here and he can help us do that right follow I&#39;m just going to copy what people do I&#39;m I&#39;m not a guy that likes I like to just copy what works I&#39;ll just keep doing it so um phone launch line is going to be a fun three days we&#39;re having an awesome time with you guys we got amazing speakers we have actually hand selected every single speaker coming to speak for different people that actually so we have a in Black Card we&#39;re gonna talk about black card but I meet people all the time that have problems in their business I have a problem like raising money or this thing with a business partner or something I don&#39;t understand this we&#39;ve actually hand selected all of our speakers to answer different topics different categories essentially different concerns we&#39;ve heard from this community for the last year so these aren&#39;t just random Spirit just so you know I personally hand selected called them beforehand walked them through we had a very in-depth process and so I&#39;m so excited for you guys to hear from today sound good yeah okay now uh the next segment here speaking of Masonite on the screen I actually want to bring Mason to the stage in just a second okay so um I&#39;m not as good as Devon but I want to bring him to the stage and have a cool entrance we&#39;re gonna do what we call the state of fund launch so we did this last year I thought it was kind of cool um you know they do the State of the Union Address and it&#39;s whatever a bunch of politics and stuff we want to do kind of the state of fun launch so where we&#39;re at what&#39;s the new products we&#39;re doing what&#39;s kind of coming out Etc so in just a second I&#39;m gonna bring Mason to the stage we&#39;re gonna do kind of this state of fun launch sound good so you guys ready AV team Mason you&#39;re ready okay if you guys can help me ready get on your feet and welcome to the stage Mr Mason friends [Applause] [Music] [Applause] [Music] we&#39;re here now just you guys are aware me and Mason are 50 50 Partners on fun launch I know I&#39;m the face I&#39;m like on stage and stuff but Mason has is incredible online Market the reason you guys are all on your seats reason you read emails everything is all from Mason all the funnels everything is built by this guy so again huge round of applause for Mason unreal um so let&#39;s do the state of fun launch yeah we&#39;ve done a lot in last 12. we actually were totaling it up and it was uh it&#39;s a lot of stuff we actually took out slabs right that&#39;s too much we just can&#39;t go into everything so uh first things up do you want to go through the first one yeah first order of business last year this event you&#39;re known as invested fun Secrets really long name kind of hard to spell kind of hard to say so we decided to simplify and make the brand a lot better so now we are known as fun live [Music] yeah good job okay pretty cool there we go you guys like fun lunch better us too yeah investment funds Secret is a little too much investment funsecrets.com it was just it&#39;s just a doozy it was a little much so we were officially fun Lodge here um over last year our student growth has blown last year on stage we were about 16 000 members total uh we got the the number here I know the video is a little outdated 59 792 members of the photos Community give that huge round of applause for all of you I mean that is crazy I mean just on this I don&#39;t know if anybody&#39;s ever created like let&#39;s just call it a video or a course before like we we started this whole camera without a tournament we started a course on funds and you kind of Hope like maybe 50 people will take it or a hundred maybe 200 would be really cool and then it&#39;s like wow a thousand and then 10 000 people and then 50 000 people like wow I want to like learn this it&#39;s it&#39;s really cool to see uh so it&#39;s been done so anyways huge code is that student growth it&#39;s been amazing additionally black I&#39;m sorry yeah go ahead black card has grown a ton we uh pour a lot into this this year um since last time you met we did our Black Card event yep um and uh we did the race cars at Vegas it was a really good time and uh we added two new events since that last time we met and so since then we did um our Salt Lake City Event who was at that Salt Lake City Event Salt Lake City it was great we did a workshop for two days and just dove in everyone&#39;s fun super Nitty Gritty a great time and then last year from launch live we announced our first exotic event and so in October everyone came out to Cancun Mexico and we had this really nice all-inclusive resort it was a great time and how that worked kind of all day everyone would come and have fun go to the beach eat drink zip lines like you name it it was a great time in that night time we dive into the sessions have speakers do workshops and all that stuff so it was a really fun time and uh we&#39;re excited to just keep adding the Black Earth and actually we have a video for this Cancun event we can start playing too so here&#39;s the video if you get that volume up that&#39;d be great thank you [Music] [Music] foreign [Music] [Music] foreign so we&#39;ve got three events total now for blacker we added two last year so we have an exotic event we&#39;re actually announcing the details of the next one tomorrow so no yeah it&#39;s like Christmas morning I can&#39;t sleep uh anyways we&#39;ll announce that tomorrow we have the workshop we do um again it&#39;s more of a we go very in depth in your funds Etc and then we have fun launch live we have kind of a bonus event we&#39;re doing actually Friday we haven&#39;t announced the details yeah we&#39;ll announce that tomorrow uh we have a fun one in just a couple days that&#39;s the editions of Black Card sound good pretty good collab enough for that pretty awesome additionally Black Card members if you checked in you got this cool piece of merch which is kind of fun now something Masons do a little spin for us um custom made now what&#39;s cool about this and maybe we anyways we didn&#39;t know how to tell you on whatever but there&#39;s a QR code on the tag for everyone that got a black card shirt there&#39;s a QR to the cad and what you do is you scan that QR code you opt in and it&#39;s four we&#39;re doing a giveaway we&#39;re gonna give away at the last day um we&#39;ve we get invited to a bunch of events they&#39;re usually small like the Greenwich economic Forum World economic Forum types they&#39;re usually five to ten thousand dollars a ticket and it&#39;s usually about a hundred people are invited um we have three tickets it&#39;s one of these events about five thousand so me I&#39;m going Link in here you can hear it from a little bit&#39;s gonna go and then also one of you guys so we&#39;re gonna have one of our black rumors we&#39;re gonna pick you the last day to come with us does that make sure you guys scan that make sure you guys opt in because it&#39;s gonna be a fun time might as well and if you&#39;re not a black car member No Stealing the shirts and trying to get the QR code okay we&#39;ll check the emails but it should be pretty fun we&#39;ll give that away as well additionally we added three new office hours since last year we have a compliance hour we have a series 65 training and we added office hours every single day of the week and so if you guys need help ever like we&#39;re there to answer and help you guys and to answer all your questions so kind of fun yep additionally um last year we had so in Black Card a lot of you get access to League work and stuff and we had I think one or two legal Partners we&#39;ve added um an additional four new legal Partners this year so for people that have international funds people that are doing feeder funds people that are doing European funds Etc Canadian funds we have legal teams now that can do all those types of funds for everybody in this audience last year we were pretty much just like domestic funds now we can do them all around the world and we actually think you&#39;re adding another two we don&#39;t have them yet but two pending right now as well to have a bunch of different law firms that you guys can use and access inside of Black Card sound cool clap it up for that pretty good pretty awesome additionally um just to list off a ton of stuff we had a ton of things we have five new coaches to Black cards pretty cool I know where coaches in here raise their hands where are they at they might be I think we haven&#39;t done something else okay on the back okay Coach we have five new coaches we&#39;ve revamped our whole course in phases we have a full in-house pitch deck designer we also have new banking Partners um since all of them collapsed uh the last couple months um we had to find some new ones so we have new marketing partners and uh that&#39;s kind of the new additions for black cards so Cloud enough for Black Card pretty cool we&#39;ve been working like crazy on all the new stuff uh to have for you guys additionally a lot of people have asked us to us to partner with them on their funds and for the longest time you kind of said no like you&#39;re not interested but we finally kind of looked at it and we realized it could be something pretty cool and so last year we launched Black Card Capital Partners BCP essentially uh what we&#39;ll do is we&#39;ll partner through on your fund and any need you guys have anything you need help with like we&#39;re there to serve and to make this fun to work and So currently we have eight people we partnered with um on those funds which is pretty awesome um yeah we uh the idea is just we&#39;ll we&#39;ll come help them with whatever so we&#39;re very selective with who we partner with we&#39;ll sit on their board investment committee we&#39;ll do it depends on each deal is a little bit different but we actually come in we select who we want to work with so we have eight so far we&#39;ve worked with Lincoln is the ones really headed that up did an incredible job it&#39;s been amazing primarily our Black Card members the people that we&#39;re partnering with which is pretty cool because those amazing funds we can we kind of can help each other we can help them a ton they have a really cool idea and really cool fun we can go from there so clap it up for Black Card Capital partners pretty fun um so we actually want to take you back a little bit when we first started fun launch um we had no idea if anybody would even want to learn about funds I remember talking to my dad and my brother they&#39;re sitting right here and they were like man I don&#39;t know if do you think people want to learn about funds or not like does anybody even care about this industry and evidently they do okay so people have to learn about funds it was funny so we&#39;ll take you back a little bit this is actually a picture of me and Mason I don&#39;t know what year this was 2018. maybe 2018 2019 we were starting to map out what this would look like on a whiteboard it&#39;s after that event horizon I talked about and we were here and we decided we wanted to put together kind of a mini couple videos a mini course for funds keep in mind like there was no audience no Community out like it just didn&#39;t exist and so we were kind of taking a shot in the dark like hopefully somebody will maybe watch this for 47 bucks or whatever so we put together this course we&#39;re just spent all weekend filming it we had about 500 bucks we were willing to invest into it put the 500 into ads and just we&#39;re gonna see what happens and over the weekend that 500 turned into about 950 or so which is if you guys ever done a startup business type like that&#39;s pretty awesome you have at least some customers and that was the first step and so we kind of saw that were great so over the next four months we just kept dumping the you know the prophecies and ads and kept doing that over and over again and I think over four months there&#39;s like 55 000 Revenue it&#39;s really small but we had about a thousand 1100 clients which is great and uh eventually everyone&#39;s like what&#39;s the next thing like did any of you guys join that original it&#39;s 47 it was called the mini ball anybody in here that since retired yeah oh a couple of people okay this is awesome you guys are like the ogs that was the first thing we ever launched we&#39;re like well people maybe like this thing and we had a thousand people buy and join the and so they were like people are asking us wait what&#39;s the next thing and this is this is us in the Whiteboard again after many hours so probably two months merger went out there and he was you know interviewing all the top five Mayors in the United States and we&#39;re kind of starting to build this really comprehensive course out because that mini bottle is really in menial is like 10 videos in it so it&#39;s really small so everyone wanted the next big thing he filmed and grinded on that I was in the back kind of just promote this webinar and just kind of build up this hype for it and uh because to this point too like no one&#39;s ever really shown their face to us like there&#39;s a few buyers on the internet but you don&#39;t really have that communication with them you know so we uh we promote this big webinar and on webinar day to our surprise there was like 370 crazy people that decided to show up and attend this webinar just super excited this is a picture so we brought my dad on who&#39;s going to speak later today which is pretty cool who&#39;s here laugh or hear my dad speak pretty fun my dad was actually voted best speaker of last year so he&#39;ll be speaking later this afternoon which is pretty cool uh we&#39;ll see if I can beat him this year I&#39;m gonna try to beat you this year okay uh but you remember when I was it was pretty fun we got a whole vote after but this is my dad on the original webinar so we had about if anybody has thrown a webinar any type of class I mean to get 300 people to show up was a big deal I mean we were at least for us we were like this is so cool like we have people on we get on live and the webinar software keeps breaking so we&#39;re on I think it was webinar Jam or one of those webinar softwares and it&#39;s glitching out they&#39;re so engaged like people are spamming every two seconds there&#39;s like 100 chats coming in we were having people like type yes in the chat and it was like everything would just break it was like and we were like oh no and so we&#39;re stressing out I&#39;m like and I&#39;m behind the camera like Lisa what do we do what do we do what do we do and then so Mason knew his genius he&#39;s like he pulls out his credit card spends I don&#39;t know how much money like 1200 bucks it&#39;s like all the money I had at the time yeah throws it on a credit card bought the best zoom account you can buy so on Zoom this is like free covet too this is free before Zoom but he bought the best zoom account possible thankfully there was a redirect like board link we put it in there we booted everyone from webinar Jam to zoom and zoom worked phenomenal and it worked and everyone I think we only lost like 20 people maybe that&#39;s great which was awesome it was amazing that people stayed we did this whole webinar we launched this little teeny it was called The Mastermind that time today it&#39;s called The Academy we launched this little course and it was amazing I think 76 people joined on that initial launch which is anybody in the group that joined on the initial one of course anybody&#39;s here we usually have a couple here there&#39;s a couple hands I see a few over there yeah um pretty cool well thanks you guys for joining that I mentioned one it was amazing and actually we&#39;re gonna talk about the words in a minute a bunch of our award winners of people that have won 10 or 100 million dollar funds actually were on that original call and joined which is amazing they launched successful funds it was really cool if we launched it anyways we do this whole webinar it&#39;s awesome it&#39;s going good and I look behind the camera because it was just a stressful well it was like two hours I look and made this is in my house and Mason is behind the camera face down on the ground with his hands like this over his head on the floor like just breathing and I was like Mason we did it and he&#39;s like I know we did it it was just so stressful so it launched was amazing so kudos to amazing pretty this is us a picture you can see the stress kind of draining from our face this is literally right after um was at this moment too that we kind of started to realize like okay this is something special and this could actually build something crazy yeah um and that was kind of the Breakthrough moment for us which is pretty awesome so so thank you guys for joining that original and that&#39;s we really put everything on the line for that if that wouldn&#39;t have worked we probably wouldn&#39;t be here today um which is pretty cool so after that we got shoes to celebrate as you guys may have known if you follow our Instagrams on me and Mason love sneakers we love shoes we love getting special shoes Etc and so we got shoes to celebrate and so we got these original shoes and we actually wrote We like signed the bottom of them if you see like NBA players will do that like the right special stuff about their shoes on there so we wrote like the launch date the day we did the webinar how like we kind of wrote the little storage this is like a memorabilia item on our Shelf and then since then pretty much every major milestone in our career business whatever we&#39;ve bought shoes I think those ones which ones are those ones these are the million dollar shoes so so when we had a million dollars of fun launch WE Mason bought these shoes like custom and stuff on the side I actually just got these shoes for today which is pretty cool I was expecting this to go really well so I bought I pre-bought my shoes this year these are like custom they&#39;ve got anyways our logo and stuff on them I have a shoe designer that makes these shoes it&#39;s pretty cool so it&#39;s kind of fun so we love getting shoes it was a cool way to like have a moment like something you celebrate because in business it&#39;s typically pretty boring you like make some money and what do you do you go to dinner like what do you do you like okay we&#39;ll go party tonight like what do you do like there&#39;s not like this award or trophy or something to like we love playing sports growing up and it was just cool to like have your hand raised like get a championship or something so we decided to make something for this group in the fun space some of you guys may have seen this before so we launched last year this is called The Wall Street Rebel award for any fund over 10 million dollars and actually last year we had a bunch of Award winners come on stage um and you saw on the screen we have a bunch of new Awards so actually Mason yeah do you want to let&#39;s grab these real quick so any fund over 10 million AUM these are a custom pair of sneakers custom to you so right here yeah here they are they&#39;re all one of ones they&#39;re unique carbon fiber they&#39;re custom painted your logo and stuff goes on and it&#39;s pretty cool so they have your name right here you can&#39;t probably see it from the camera but your name&#39;s right here yeah we can we can add different stuff for your sneakers what you can do is go put on the Shelf Etc you want to grab the box too it comes in a custom box with like engraving your name it comes with a nameplate like it&#39;s an actual like trophy thing actually over the last year we&#39;ve made it even better and better um um hold up Mason uh bring this over it&#39;s got QVC right now it doesn&#39;t feel like QVC dude that&#39;s a little online shopping here we go our next item so this is the box it&#39;s got engraving you can put your name on everything right here so it&#39;s kind of an award something you can put on your shelf like dude we did this which is awesome does that sound kind of cool who would love to get something like that on yourself yeah I mean they&#39;re kind of cool so this year we have a bunch of Award winners um now we also we have different different people at different stages so we actually launched a new award this year I don&#39;t think anybody&#39;s seen this um so this is we have a lot of funds over a million dollars so this is the million dollar Wall Street Rebel award so tomorrow on stage we&#39;re having Awards time where you guys can get one of these if you have over a million dollars in your fund to kind of celebrate the Milestone so you&#39;ll come up on stage you&#39;ll be right here with Mason and me get a picture and be on stage Etc it&#39;s kind of a winner it&#39;s kind of the teaser for the uh the big dogs too yeah so which is pretty fun and then we also have the 100 million dollar award so this is uh I think Mason&#39;s got over here too 24 karat gold on the paint that&#39;s pretty nice yeah the paint actually is 24 karat gold paint um which is awesome they&#39;re custom made you your name on the back Jordan Ones which is like most legendary shoe ever so yeah kind of fun kind of fun and we can customize them to you so I think this year we have 51 1 million dollar Award winners in the audience right now with us clap it up for that which is pretty cool we have 39 10 million dollar workers you can keep you climbing up for that as well I guess we do at the end but and we also have 1200 million dollar Award winner sitting in this room right now which is pretty cool okay um that we know of no uh yeah and that we know of so we actually we we kind of this is a new award we launch stuff on emails and stuff if you&#39;re in the audience right now we did we weren&#39;t going to do this we decided to do it we had a couple people say they were winners if you&#39;re in the audience we&#39;re doing the award show tomorrow uh at the end of this session or whatever during breaks go to the back of the room and fill out the little thing you have to now you have to prove that you have this like think about we&#39;re in the court of law and you needed to prove that you had a million dollars AUM in your fund um but we would love to have you on stage and what we&#39;ll do is probably two weeks or three weeks now we&#39;ll make you a custom pair of shoes and we&#39;ll send it to you does that sound good so end of the session back to the room is where our team is at all in the back right that&#39;s where you go does that sound good okay pretty cool um additionally that&#39;s our Awards we uh this is kind of cool I don&#39;t think we&#39;ve shared this anybody come on you guys ready we&#39;ve had a lot of our members struggling with um investor back-end portal listing their fun on the website or portal so like doing like a website building kyc AML checks uploading sending docs efficiently so we thought it&#39;d be cool if we fixed all of that ooh drum roll please everybody okay this is the fund launch Marketplace okay we&#39;ve just been we&#39;ve been in beta test with our black crew members last few months we&#39;ve had a few members on there so what the fun launch Marketplace is is this right here so you can see some screenshots these are actually live right now marketplace.funlunch.com you can come list your funds investors and come see it they can see the full offering docs they can see a video on your phone they can see the pitch deck uh PPM LPA they can actually invest through the portal it does Capital calls it does kyc AML all the stuff all in one kind of Hub now these are funds the funds listed right here are 506c so they can publicly advertise we also have 506bs they&#39;re just hidden we have I don&#39;t know how many we have a dozen or so hidden ones that you can just send directly to your investors essentially as your website or landing page you can collect emails build a list Etc is that kind of make sense really let me say yes okay you guys are there this is actually example I put my fund on there so I run a crypto fund albino core crypto fund which actually we&#39;ve been killing it&#39;s been so awesome we&#39;ve done really well so you can come on here you can kind of see down we have a full video of us presenting the fund so an investor can come and just watch and see what we&#39;re doing here&#39;s our pitch deck all down here we have our team slide Etc we have all of our documents they can download our pitch deck they can look through our documents and you can make them if you want you can add verifications they have to verify their net worth before they get your stuff they can you can add whatever blockers you want so people don&#39;t steal your your docs all right there here you can come and you can actually type in hey I want to invest a hundred thousand dollars you can type in it actually does the kyc and AML on the platform you can integrate with DocuSign to send the documents directly to your investor they sign the docs fill them out and they are subscribed in your funds pretty cool yeah isn&#39;t that kind of awesome okay there&#39;s the fun launch Marketplace so Again full website opt-in page kycaml DocuSign integration investor back-end portal and links also to your third party admin so if you have a third party administrator you can actually link and upload documents here back and forth so even if you have an existing fund you could use this to just do I mean marketing or advertising whatever you want to do on there kind of cool okay so when is this available um the big question right when does this come out Etc so this is available today for all of our Black Card members which is kind of cool so go black card is pretty awesome we&#39;re going to continue to beta test this with our Black Card members and then the plan is it&#39;s available to everyone over the next six to eight months we&#39;re gonna start rolling this out what we&#39;re gonna do is selectively pull funds and put them on the platform and go from there pretty cool it&#39;s a clap it up for the fun launch Marketplace pretty awesome all right I know we had a lot of stuff you guys you guys still with us still like this okay additionally kind of show yeah additionally we have our whole value ladder here up on the screen and a few of those products are pretty new uh you probably stay up there the well group and the Blackberry Cowboy partners and so let&#39;s talk about well grip for a second last year we had a lot of members who started to get really successful and they got the thing like the point of black cards get your fun launch you did 10 million dollars and so once they did that they&#39;re like What&#39;s the next step and we&#39;re kind of sitting there thinking and the next step is probably to join a higher level group that is more about just leverage a few tricks here and there and like things that just make the needle move a lot faster you don&#39;t really need like legal startup and all those things anymore and so we started launch well Group which is what this event is and we had our first one back in February we had everyone helicopter into this private cabin in Utah we had a private chef and uh for three days we kind of just had a blast so that was the first event in Salt Lake City um and we actually have a video for it too if you want to show it yeah and last night went to dinner with our whale group members as well so it&#39;s a small group Titan you have to have a 10 million dollar fund to even apply to join so it&#39;s all active fund management which is kind of cool um so yeah here&#39;s a we&#39;ll cue a video if you guys want to dim the lights and get the volume up foreign [Applause] [Music] foreign group everybody pretty fun so just everyone&#39;s wearing a whale group it&#39;s 75 000 a year to join 20 members we have about 14 that have joined so I think we have six spots open so during this event if you want to come talk to us at the back of the room about whale group Etc our next event is going to be on an Alaska fishing trip we&#39;re going in July we&#39;re River fishing Alaska which is pretty fun um that&#39;s pretty cool those helicopters by the way one of them anyways no I&#39;m we&#39;re not doing helicopters again I don&#39;t think it was really cool to have helicopters when the doors flew off and literally on the way home the Windstorm picked up and like the door rips part of the experience it was all planned uh we&#39;re not doing like but it was cool to have helicopters we had two helicopters anyways yeah we&#39;re not doing that okay last thing and then we&#39;ll keep moving here um there is we believe a massive move towards tokenization of assets and funds We Believe happening right now um Wayne Gretzky talks about don&#39;t skate where the puck is Skate where the puck is going so we believe where the puck is moving right now and again we don&#39;t know when or how or how quickly regulatory bodies but we believe tokenization of assets and funds will be the next thing and so we&#39;re actually working very hard on kind of getting ahead of that so just so you guys are aware what that means even last year you guys know the Denver Broncos sold to the Walmart family the Walden&#39;s um there was another bid came from a dow a decentralized autonomous organization so similar to this what happened was just for an example let&#39;s say 10 000 people put money in together I don&#39;t know if they raised this is called like three billion they wouldn&#39;t actually bid on the Denver Broncos had a competing bid now they didn&#39;t go with them but imagine if they did choose that you&#39;d have a fractionalized NFL team and if you were one of those 10 000 holders vote for me trading players you can yeah we want to trade the quarterback we all just do a vote and 50 say yes yeah that guy&#39;s traded that&#39;d be kind of cool as a fan isn&#39;t that a cool idea and uh I mean I want a part of that that&#39;s Mr unlimited right get him out of there um so that&#39;s the idea of tokenization of assets Additionally you could sell your position so if you had one of those 10 000 spots you can sell it on the secondary Market you can bid it up or down so they&#39;ve been something&#39;s been happening with like real estate for example they fractionalized let&#39;s say this building you fractionalize ownership into a hundred thousand pieces and any of us can come just buy a piece of it you also have Smart contracts that allow you to do distributions effectively so if this building produce rent you could just have a rental distribution it goes to anyone that holds that contract gets an instant distribution that&#39;s the idea and we&#39;ve kind of coined this phrase called smart funds so something that we call Smart funds that we are going after heavily right now we were we wanted to actually do a full demo for you guys on stage we are our Dev team is so close to get us all ready for you guys to launch with sbbs with funds Etc which is pretty cool so smart funds is coming out very soon what it&#39;ll allow you to do to have fractionalized ownership secondary markets to sell positions the whole fund is ran through smart contracts and then distributions payouts are all run through what we call Smart funds that kind of now we&#39;re still waiting for SEC updates and IRS they&#39;re continually updating this industry so we&#39;ll continue to work with them that&#39;s why again we&#39;re skating to where the puck is going they&#39;ve been a little anyways wishy-washy or blind not blind but slow to get to this asset class but we&#39;ll see where we&#39;re going to be at and the fun world&#39;s pretty traditional pretty old-fashioned so we hope to be the ones on the Forefront of the next era of that and so that&#39;s kind of the vision and we have the whole Community to do it with so pretty fun yeah we got this whole group which is kind of fun okay so give it up for smart funds pretty cool okay that&#39;ll be coming out in the near future we&#39;re working on like crazy right now um okay kind of fun that&#39;s the state of fun launch yeah we&#39;re doing okay yeah and then we&#39;re just getting bigger and better every single year um which is pretty cool to see everybody so with that thank you guys you guys can give a huge round of applause to Mason brains everybody [Applause] awesome thank you Mason [Applause] all right now let&#39;s talk about funds yeah ready to get into it um I&#39;m gonna talk fast I&#39;m gonna go quick so take some notes we&#39;re gonna fly through to sound good um you guys with me say yes actually if you can stand up for me just stretch out for a second I know we&#39;re gonna be here for a sec stretched out if you can&#39;t high five the person next to him say what&#39;s up say you&#39;re awesome I love it all right all right thank you very much take your seats take your seats let&#39;s dive in here we go again fam reunion I love it I see people like hug and say what&#39;s up okay so real quick just back right on me I know some of you guys don&#39;t know who I am my name is Bridger Pennington this is actually a picture of my dad and my brother right here they&#39;re sitting both front no roots are amazing will tell their whole story in a little bit um my my brother is an investment funds attorney to sermons aware so worked at the largest law firm in the world has done multiple huge deals on funds multi-billionaire funds my dad co-founded a Deca billion dollar family of funds you guys will hear from him tonight we&#39;ve got a pretty interesting family Dynamic and none of us went to Ivy League schools announcement to Harvard Etc not just worked on Wall Street and really how this whole group came about was you know we kept talking like I think more people would want to learn about this we had people coming and asking my dad or my brother like how&#39;d you guys do funds how did you launch them and I&#39;ll tell the story in just a minute but it&#39;s pretty cool and we have some fun family dinner conversations and you know every time we get together we&#39;re talking funds and finance and all this kind of stuff that you guys are here so we wanted essentially this event is built around a lot of people said well Bridget you&#39;re so lucky you had an amazing dad and brother and Etc you know I wish I had that and guess what now you do because we have this event you&#39;re here like this is what we&#39;re doing is give you an extension of that does that kind of make sense okay so which is pretty fun now and we&#39;re gonna dive into this I my goal for the next three days to convince you this a fund is the best way for you to scale your business or Investments all right the goal for the next three days is I&#39;m going to show you how to build an investment fund without number one a track record two working on Wall Street three a fancy degree and why you should launch a thunder skin syndication to scale your business or Investments talk about that that first piece of Leverage right Capital how to do that through me say yes does that sound good for the next couple days also I want you to feel totally confident in the next 12 months that you can come up here and win on stage a pair of shoes running a 10 million dollar fund I want you to feel confident that you can do that and be up here next year and set that goal in your brain like I&#39;m gonna be there and it&#39;s cool for people a bunch of you from last year like dude I did it the last 12 months we&#39;re here and they&#39;re gonna be up on stage tomorrow getting their Awards okay I want you to be there now a fund is the best way for you to scale your business Festival so dive into funds we&#39;re gonna start very basic and we&#39;re gonna go Advance pretty quickly does that sound good okay I know a lot of you guys have probably heard this but we&#39;re gonna go I promise we&#39;ve got some some new stuff for you all sound good so what is a fun for people brand new actually first off who&#39;s this is your first time to fun launch live I know Devon did I just I want to see it just for me oh awesome cement a lot of people okay this is great so we&#39;re gonna you guys yeah welcome in it&#39;s gonna be awesome so what is the fun we&#39;re gonna talk way basic fun launch live fund launch like what even is a fun what are we even talking about all a fund is is a pool of money investors put money into that pool people like me and you can draw from that pool we can go make investments we go buy assets we&#39;ll share a few examples in a minute whenever those assets make money they flow back to the pool and get split between ourselves and the investors that&#39;s it okay it&#39;s not that crazy think about like back in the day like a blacksmith shop like in the middle age hey we&#39;re gonna open up a blacksmith shop I want to get some money put some money in whenever the blacksmith shop makes money we&#39;ll just split the returns that&#39;s all really a fund is the most basic sentence that kind of makes sense it&#39;s not that crazy so if you&#39;ve ever heard of private Equity hedge funds real estate funds debt funds credit for their all funds we actually helped a lot of people launch these types of funds in our community um so what&#39;s the difference then between all of these so I&#39;ll start with the middle one real estate funds what&#39;s in the name a real estate fund is a pool of money and they go and buy real estate when the real estate makes money it flows back to the pool and then we split that with ourselves and our investors it&#39;s not that crazy right private Equity Fund a private Equity Fund is a pool of money instead of buying real estate they buy privately held businesses so they buy a bunch of coffee shops in a region they go buy a bunch of actually share a few examples a bunch of retailers in a certain region they&#39;ve grouped them together group businesses together and then they whenever those businesses make money they split the returns that&#39;s privately held businesses hedge funds those ones are doing public businesses typically public security stocks bonds options Forex those are publicly held Securities okay that&#39;s all the fund is it&#39;s not that crazy whenever you hear on the news like this hedge fund manager private equity and a lot of us Finance I hate the world of Finance because they make these terms so confusing for people to understand it&#39;s really not that complex they&#39;re all structured almost exactly the same we launched 130 funds last year in all these different categories is that making sense if you&#39;re with me say yes so um a few examples so The Big Short anybody seen this movie awesome movie really fun uh all these fun managers the reason they could short the housing market in 2006 2007 is because they had a fund behind them you ever wonder like man I wish if I could go back in time I would have shorted the housing market well the reason they were able to do that is because they had a massive fund behind them does that kind of make sense um the reason people can take advantage and we&#39;re talking about economic right now we&#39;re in an economic interesting Economic Times we have a bunch of speakers talking about that the reason they can take advantage of those things is because they have a fund okay a great example of um of this a private Equity Firm anybody knows Sycamore partners okay Sigmar Partners well I&#39;ve you know I usually ask this like nobody raise their hand I&#39;m like have you heard of any of these brands did you know they&#39;re all owned by the same private Equity Fund kind of crazy all those brands are owned by the same group Sycamore Partners on Wall Street manage about 11 I think 11 12 billion dollars that&#39;s the world of private equity uh Blackstone private Equity 131 billion they own all of these Brands kind of crazy like a lot of people don&#39;t know these these companies they&#39;re owned by the same individuals uh actually I was looking at Blackstone as well I went on their website um so they manage uh right here 577 billion total AUM just just phenomenal amount of AUM I just can&#39;t I was just trying to put into perspective of how much they control and own and I was looking on their website and they had this picture there and I was like huh like do they own like what do they own like what are they like they own one of those buildings or the one on the corner like what do they own no they own the whole thing that in downtown Manhattan they own 11 000 units 56 buildings in Manhattan and I was like oh they own that they had to rent a helicopter to just get a picture of their asset this is the world of funds you need to understand this game I mean it&#39;s the biggest game on earth right here uh Blackstone as well did you know they own MGM Grand I know they just asked this but as a few months ago they owned MGM Grand you guys know that oh and they also owned uh Mandalay Bay oh and did you know they also own the Cosmopolitan so you&#39;re thinking you&#39;re hey I&#39;m gonna I&#39;ll never gamble at the MGM I&#39;m going to the cosmo you&#39;re going to the same people it&#39;s the same people that own all of them okay they&#39;re like okay go to the cosmo we&#39;d love for you to go to the cosmo okay they own all of them this is the world of funds okay these are uh lists right here I&#39;ve done this before for groups but these are all hedge fund managers right here and there&#39;s some huge numbers next to their name you have 4.1 billion 3.2 billion now let&#39;s talk about net worths for a second a net worth like Elon musk&#39;s net worth I think this year has dropped like crazy it goes up it goes down because his net worth is based on how many shares of Tesla he owns for example if if their stock price goes up his net worth goes up it goes down Etc does that make sense that&#39;s how a net worth Works typically in the report it these are not net worths on the screen okay this is their 2022 earnings alone just from one income source this is not personal Investments this is not their other portfolio this is their hedge fund produced Ken Griffin 4.1 billion dollars last year pretty wild to put into perspective um here&#39;s a question actually I&#39;m curious somebody who has the answer you might if if I gave out or you gave out 76 000 a day every day wouldn&#39;t that be kind of fun 76 000 a day every day to somebody you find someone new on the street you give them 76 000 how many days or months or years would it take you to hit a billion one billion anybody know shout it out a year okay shout out again who else four years seventy six thousand dollars a day how long till you hit a billion 31 years 31 years it&#39;s about 31 and a half you&#39;d hit a billion dollars people when people talk about a billion my dad this last year if you talk about a billion a billion&#39;s a lot of money imagine if you&#39;re anybody 31 years old in here right here a couple people 31 years old you gave away 76 000 every day your entire life till this point that would only be a billion dollars and Griffin made 4.1 billion last year from one income source talk about another world of wealth right when I talk about a fund you need to launch a fund you need to understand this game of funds it&#39;s the biggest baddest game in the world that&#39;s why we&#39;re here yeah isn&#39;t that kind of cool who&#39;s doing they say yes all right um I&#39;m sick of Wall Street Elites controlling everything we need more of us that&#39;s why we do this we need more of us cracking into this industry I&#39;m sick of this only being reserved for the Ken Griffin and by the way Ken Griffin&#39;s lost nothing but wrong about Ken Griffin but the Ken Griffins of the world just controlling everything People Like Us need to understand this game there&#39;s a reason we call ourselves the Wall Street Rebels Wall Street Rebels people oh there&#39;s a reason we call ourselves the Wall Street Rebels because we need to understand this game and guess what the game they play it&#39;s just the game of funds those people that almost all they did guess what 20 years ago 30 years ago and we&#39;re going to share all actually all their stories I&#39;ve studied all their stories Etc they just started to fund and they got it bigger and they got a little bit bigger and just got bigger and they they use this vehicle of funds to do incredible things that kind of making sense that&#39;s why I believe everyone in this room should be considering launching a fund if not syndication like right now especially we&#39;re talking about 2023 and timing Etc especially right now last year the message was like I want to start a fund this year it&#39;s like I need to start a fund we&#39;ll talk about more tomorrow but it&#39;s an incredible time to be in this game yeah through with me say yes okay we&#39;re the Wall Street Rebels that&#39;s what we put on our shirts our brand Etc we need more of us to take over and decentralize this industry essentially is what I believe okay now who this works for this works for people trading for people in crypto Forex Futures actually where are you at where&#39;s my Traders who&#39;s a Trader in here raise the hands let me come actually I want to see my I want to see some people keep your hands raised Traders where you guys at Make Some Noise Traders hey there they are good to see all my Traders and we got Jay the trader right here okay I love it uh where&#39;s my real estate people make some noise hey a lot of real estate people there you go a little bit happier than the hedge fund people it&#39;s been a tough it&#39;s been a tough year in the public markets um buying a smugging small businesses and my private Equity business Make Some Noise okay awesome I love it I love it um what&#39;s our next one here investing you&#39;ll start a VC startup seed Capital Make some noise okay there you guys are as well sorry I gotta keep looking I got it okay who&#39;s uh like can I have a late stage private Equity scale existing businesses raise a hand anybody make some noise okay there they are and then finally issuing loans where&#39;s my debt people who&#39;s doing debt Make Some Noise deaf people there they are I love it and then just undecided who&#39;s here to just learn raise him yeah Make Some Noise we&#39;re just coming hey that&#39;s awesome I&#39;m all about that I love people if you have no clue about this industry this is the perfect spot to be come here where and that&#39;s why we&#39;re starting simple base we&#39;ll go Advanced we&#39;ll go the whole time sound good yeah I love it um now a lot of us make excuses not to start a fun I know in your brain my brain oh it&#39;s I&#39;m too busy I don&#39;t have the right financials I don&#39;t have the right pedigree I don&#39;t have the right x y z a lot of us have this kind of stuff yeah now last year I mentioned there is one person that has shattered All Glass ceilings for me you guys remember who it was from last year anybody remember shout it out you remember they shattered all this this one is a guy he shattered all expectations for me in the world the glass ceiling that if he could do it I could do it P Davidson this guy is amazing the fact that he can date Kim Kardashian means we can do anything okay all right Steph say I can do anything if this and I gotta I found a topless picture of T Davis and just so you could just see how sexy he is of a dude if he can date Kim gate we can do anything now this year though I found someone new I found someone new that&#39;s really broken through glass things for me you guys want to know who it is there&#39;s someone doing I&#39;m like if he can do it I can do it I love doing that he can do it I can do it the fact that Joe Biden is president right now [Music] ah the fact that he&#39;s I mean nothing I mean she has dementia I don&#39;t know right now there&#39;s about 30 of this room that&#39;s like that&#39;s a terrible that was bad so to help the other 30 the fact that this guy was president means we can do anything in this world okay clap it up for that you can do anything okay the fact that these two gentlemen our last two presidents means me and you can the sky is the limit okay and the crazier fact is they are both the Front Runners for the next election which I can&#39;t even if anybody&#39;s a political person here please I just let&#39;s shake it up just shake it up that&#39;s all I can ask for I shake it up I&#39;ll vote for both parties I don&#39;t care I&#39;m not either way just let&#39;s just shake it up sound good okay so but if they can do it we can do this all right now again a fun is the best way for you to scale your business or Investments all right now I want to go deep I&#39;m gonna if you guys want to get your pets I&#39;m gonna go fast through some examples I wanna share a bunch of examples give you ideas of different types of funds people are doing so where&#39;s my real estate people again there they are I love it I&#39;m going to share an example of how one of our actually people in our group went from flipping any house flippers in here that do I&#39;m sure a lot of you guys have flipped a house or changed houses he flipped three to four houses a year next year flips 70 houses I want to share exactly his example sound good this is what he did I&#39;m going to summarize you house slippers I&#39;m gonna summarize your entire job in about 30 seconds okay here we go you guys find a house looks awesome let&#39;s fix it up we then go and we got to get money for it so we go we get hard money investor money bank money or your own money we get that money together we put it into an LLC we have a little operating agreement throw the money in we then go flip the house we renovate it do all the stuff we then make a little bit of money yeah we&#39;re making some money okay feeling good on the way to the bank and then we start over we find a new house how did I do household is that pretty good yeah it&#39;s your whole job in 30 seconds that&#39;s a good job you make actually good money there&#39;s good money in householding so this is what I like to call the syndication Loop and by the way syndications are awesome some people keep asking me like Bridger are you like anti-syndication no syndications are amazing they&#39;re great to build your track record it&#39;s a great way to get some deals under your belt get going but this guy we this gentleman we talked to Brent he was like Hey I want to do the next thing I want to do more it&#39;s it&#39;s hard to get a conscious we said Hey what if we set up a fund so instead of every single deal you&#39;re raising me money trying to go to the courthouse to call on people Friday afternoon wire your money in ETC you set up a funds you raise the money once you set up the legal documents once and you can go flip as many houses as you want over and over and over again that&#39;s what he did so he set up the fund once money once and then ta-da he went and flipped 70 how 70 plus houses in one year and also he had economies of scale so think about this do you think you&#39;d win more deals or less deals if you had a fund ready to go versus like syndicating trying to get money on the phone more deals your last deals more right you think you&#39;d get better financing or Worse financing from banks with a fund better or worse probably better right because you have a relationship you&#39;re doing more deals you have more Capital you probably get better interest rates so all of a sudden ta-da he Now can do more deals cheaper and he has economies of scale he can hire multiple Crews that go from house to house and he has economies of scale which makes all costs go down pretty cool right however is that kind of making sense that example love it for me say yes okay how this works with businesses it&#39;s actually a true example this guy calls me he has a gun store that does 10 million dollars a year roughly okay selling guns he&#39;s trying he&#39;s like Richard I want to scale so what&#39;s my options and typically us we think the options to scale a business are we call up like Kevin O&#39;Leary types hey I&#39;ll give up 20 of my business put money in then we&#39;ll go scale and or I&#39;ll get some debt so I&#39;m gonna go to the bank I&#39;ll get like an uh SBA loan or a debt loan Etc and that&#39;s how we&#39;re gonna do we have a bunch of debt on the business it&#39;s typical people think of and I said hey there might be a third option you want to hear what it is it&#39;s called a fund this is what we&#39;re setting up for him actually right now so he&#39;s a gun store you set up an outside fund see how they separated though so outside fund you raise outside capital for this fund that fund comes in and buys the competitor stores because he wants to go and buy up all of his competitors in a certain region so you use that fund you go buy your competitor stores and then hey guess what you&#39;re pretty good at running gun stores right let&#39;s contract you out let&#39;s pay you a five percent corporate fee to come run up the gun stores for us and you can put your branding your logos Etc that&#39;s what the fund will pay to have you do all this so ta-da the fun goes and buys let&#39;s call it six or seven competitor stores they contract his existing store they pay maybe a five percent corporate fee to do that he now can put his branding and logos on all the competitor stores and essentially controls them and now he has a monopoly in a whole region of stores kind of interesting right now when those stores make money the money he pays a five percent corporate feedback to his existing business it goes back to the fund basically let&#39;s just call it 80 20 on the returns and he actually he&#39;s also an owner on the fund so he makes a 20 split there he also gets the five percent fee there is that kind of making sense he has fallen along pretty interesting right um this you can do this with businesses which is kind of funny if you&#39;re with me say yes okay chiropractor shops we have a couple people and that we&#39;ve actually met that are doing this they uh they found they can Group chiropractor shops together and sell them for a multiple it&#39;s called a roll-up if you&#39;ve heard of dental Roll-Ups where they&#39;re buying Dental practices together this is kind of a similar thing so for example this person has a has a fund they go buy let&#39;s call it eight Chiropractic stores they put them together they then package them they get um all their overhead down they get their marketing expense down because they have again economies of scale we&#39;ll talk about in a minute ta-da they can let&#39;s say they buy them for eight million dollars a million dollars for a piece they can turn around and sell them it takes about 12 18 months they sell them for 12 million dollars pretty good four million dollar game they split it let&#39;s just say 80 20 3.2 million to investors 80 000 net take home to him not bad who would like to make 800 000 doing that am I the only one yeah okay that sounds pretty I&#39;m like yeah that doesn&#39;t sound that crazy buy eight stores group them together sell them in a year to you know make that much money it&#39;s pretty cool another example I&#39;m gonna go quick through these um this is like imagine a small Diner you know this is actually Marshalls and beaver I love Beaver anybody been to Beaver Utah Make some noise for Beaver Utah it is like the pit stop between I live in Salt Lake City between Salt Lake City and Vegas you always stop in Beaver because it&#39;s just located perfectly for your gas tank so everyone it&#39;s only it&#39;s like made for just gas stations the whole town but there&#39;s this there&#39;s this little spot called Marshall&#39;s got amazing stuff um I actually have a friend that comes in and buys me so what you would do is you find a that you know that local Town they&#39;ve got the best pies and there&#39;s only one location right so you come in you say hey why don&#39;t we scale you so you come in with a fund come buy up Marshalls and then say hey we&#39;re not we&#39;re not going to be one location we&#39;re gonna turn you into 10 20 30 50 locations Etc again we&#39;ll just split the returns with you as the owners and we&#39;ll go from there does that kind of making sense there&#39;s actually a group in Utah called Mercado Partners Andrew Smith he&#39;s been on somewhere you guys seen us we did a whole episode together um they do this anybody heard of mobetas anybody eating mobetas before awesome restaurant in the west United States they found mobetas when it was like two locations and now I think I don&#39;t know let&#39;s just call them 100 plus locations they found Swig when they were a small location they have a bunch of Brands they essentially go to small towns find the best food in that little small town or that location they take them and they blow them up like crazy they&#39;re about a 400 million dollar fund right now that does this private equity kind of cool pretty interesting model right um now Bridger how else does this work how is this work in e-commerce is this okay by the way you guys like these examples that&#39;s okay keep going I think it&#39;s cool to just share different examples of how this works in real life and I hope you guys can take notes and like think through like this could work for me how this works in e-commerce this is actually a group in our in Black Card um 200 they raised 250 000 dollars they went out I&#39;m gonna use rough numbers here but let&#39;s just say roughly 250. they go and buy five Amazon stores for fifty thousand dollars a piece okay fifty thousand fifty thousand fifty thousand all the way across the board they group them together they are good at scaling Amazon businesses so they they group them together Etc in a year those five stores and you net free cash flow see my clicker here 350 000 net free cash flow so what they do is they actually take the money and return it all back to their investors plus a 40 return in one year so investors love it but they don&#39;t sell the assets they still own all five of those stores which is about a 3.5 million dollar Enterprise Value that they now free and clear own because they purchase them a lot of us think we gotta like I gotta be the next Mark Zuckerberg I think of this business I gotta start I gotta scale it when in reality a lot of us can go buy existing businesses and even boring businesses vending machines laundromats Amazon stores and make a really good amount of money doing that does that kind of make sense if you&#39;re with me say yes okay now you might be asking like how they get in the store so cheap typically these people that run Amazon stores they find they&#39;ll find someone who&#39;s 23 years old and just starting out hey you want 50 grand for your store dude 50 Grand is yeah I want 50 Grand that sounds amazing I&#39;ll take the store and they you know they oh yeah I exited my business for 50 Grand they can scoop up some really cheap e-commerce assets because that Market&#39;s not very efficient there&#39;s not a ton of big players there so they found that they can come in and find these really good deals that kind of makes sense pretty cool okay now how this works in stocks my my hedge fund people how does this work in your space typically um we can talk about hedge funding Community I can start a small fund but typically you know you&#39;re trading your own money let&#39;s call it or maybe friends and family they&#39;re sending like venmos or wires all it allows you to do a fund allows you just do more money yeah so if you&#39;re trading a million dollars you&#39;ve now trade 10 million or 20 million you can do bigger contracts Etc get better deals yeah sound good all right make a little noise for that pretty cool kind of awesome right make a little noise all right let&#39;s go a little bit deeper onto fun structure hope this is okay I just wanna I wanna set a bunch of groundwork a bunch of Frameworks Etc so let&#39;s talk about funds the next structure I&#39;m going to show you is how 99 of the world&#39;s private money is raised okay I want to show you the actual structure of how these funds are built so we talked about what is a fund uh we have ourselves our investors our assets they just have different names in the fund World okay so these names are instead of a pool of money it&#39;s called a limited partnership so a limited partnership this is again 99 I know there&#39;s different nuances but this is how 99 of all funds in the world are structured it&#39;s a limited partnership which is your pool of money you have a general partner which is like me and you that&#39;s the fund managers and we also sometimes have a management company This Is Us on the left here is us we manage the limited partnership just here that goes and makes Investments all right and we have investors that put money into limited partnership they&#39;re not called investors though they&#39;re called limited partners okay so limited partners put money or Capital into a limited partnership which is managed by a general partner and a management company does that sound good that makes sense so far now this is all governed by what we call the Bible this is your this is called an LPA and PPM agreement they are thick John writes he&#39;s my brother they are massive they&#39;re like a hundred pages each they&#39;re a huge we call them the Bible the reason they&#39;re called the Bible is they control all the laws covenants bylaws of your funds okay so if now the cool thing about funds is you get to write the Bible one of the biggest questions I get is Bridger can my fun do this or can my fun do that well typically the answer is yes it just needs to be written in your Bible okay so if it&#39;s in your Bible then you can go and do if that kind of makes sense hey if you&#39;re with me say yes so if you you&#39;re here on like people talk about all my LPS are putting money in that what they mean is your limited partners my LPS that&#39;s their investors my LPS are throwing money into my GP and my LP my LPS are throwing money and that&#39;s what they mean they&#39;re talking about this General partner limited partnership structure once you learn this you&#39;ll start hearing on the news just hear on podcasts Etc you start hearing this around the space that sounds does that sound good now Bridger how did you learn all this yeah it&#39;s cool if I tell a little story here real quick so this is actually my dad&#39;s gonna speak later today but I actually grew up in this house right here this is a picture of the house I grew up and we and we moved like a mile away my dad drove this car as a 1999 Ford Expedition and my dad was just an entrepreneur really um started a bunch of it he&#39;ll tell you later today so I don&#39;t want to ruin his Thunder but started a bunch of cool businesses and stuff but it was up and down Etc and um I was very ambitious I got into college and I was like I want to be an entrepreneur I want to like do business because that&#39;s where people make money so I was super ambitious I got into college I started six different businesses my I&#39;m gonna come down here look at you guys for a sec six different businesses my first years of college so I started a landscaping company a Chinese Tutoring company I started a real estate I might ran real estate but I wholesale with actually two houses in college I made five grand a piece was pretty cool assignment fees Etc the whole thing um we did a Forex Trading business I did online marketing with Mason and we did essential oils the essential oil people in here we were selling them online Doterra did all I mean any business on YouTube what&#39;s up uh any business on YouTube we tried it okay and finally my dad looks at me like this he&#39;s like Bridger I love your effort I love your drive but you&#39;re kind of like a chicken with your head cut off a little bit and uh he goes I uh I think we can help you out a little bit because I want you to go meet with my business partners this guy can can really help you out I said okay I&#39;ll go meet with whoever right like cool I&#39;m just a young hustling entrepreneur I&#39;ll go meet with whoever is out there so we set this meeting and um we go out and um I meet with this guy so I go up it&#39;s my dad&#39;s business partner I drive to his house and I pull up to this gorgeous beautiful mansion I&#39;m like man who&#39;s my dad&#39;s business partner this guy&#39;s pretty pretty intense and I walk and I go knock on this big door and he comes the door and uh he um sorry the camera guys are all freaking out at me because I&#39;m walking through here um they&#39;re all getting mad at me there you go um I go knock on this big door and he comes the door and thankfully I was worried like a butler was going to come and like be gone peasant get out of here this massive house and he comes and he goes Bridger coming and I walk in this gorgeous Mansion it&#39;s got white couches in the ceiling and The Wine Cellar in the basketball court in the basement and pool and just everything cars in the garage and I was super I was like Wow who is my this guy&#39;s pretty legit and so we sit down we start to chat and finally I asked him how did you get all of this how did you do this and he goes Bridger uh what&#39;s funny enough a lot of people don&#39;t ask me that question and I was like oh shoot that&#39;s the only question I had like like uh sorry I don&#39;t have any other questions I had one question it was how do you do this and he said uh no Bridget you&#39;re fine but um he goes It&#39;s funny not enough you asked that question because I&#39;ll tell you he goes when I was in my 20s I was a lot like you I started a bunch of business I had kind of some success but then he goes then I figured out the secrets of the wealthy he goes the wealthy families of the world they get their kids in the car sometimes they cheat we&#39;ve seen that right they get they cheat to get their kids into college but they go get into college they want their kids to work in Wall Street and use their way up and they want them to work in the fun space private Equity hedge funds Venture Capital real estate funds or come back home and run the family office and I was like Wow and he goes That&#39;s so he goes I met the guy that ran a private Equity Fund is one of the wealthiest people I&#39;d ever met and he goes I decided I was gonna be that I was gonna start a fund and so he goes that&#39;s what we did we started a real estate fund and at the time he goes we&#39;re managing I&#39;ll come back here to the stage you guys and see me because we&#39;re managing eight billion dollars of real estate at the time just I was like wow that&#39;s a lot to put that in perspective you guys know Grant Cardone anybody know Grant Cardone Cardinal Capital actually Ryan Seck was going to be speaking just a little bit which is pretty cool he&#39;s coming from Carter Capital it&#39;s awesome um Cardinal Capital today I think is about 4 billion so the time they were two times bigger than Cardone Capital which is pretty impressive that was years ago I think today they&#39;re over 10 times bigger than Cardinal Capital over 40 billion so 10x Uncle G what&#39;s up Uncle G um this is pretty crazy okay uh and I love Grant and all this stuff but it&#39;s just wild how big and they&#39;re doing real estate funds and I was just totally enthralled and I said hey can you be my mentor I want you to coach me can you Mentor me Etc and he goes Bridger go talk to your dad your dad knows way more about this than I do I said no no my dad&#39;s he drives a crappy car we live in a small house I want to learn from you like you know he goes Bridger sorry to break it to you but me and your dad make about the same amount of money and my chin dropped to the floor I was like huh come again and uh I left the dude&#39;s house I went straight to my dad since my dad&#39;s right here I was like Dad what the heck like why haven&#39;t I been able to order a soda at Chipotle for the past 10 years because it&#39;s too expensive like what is this what&#39;s going on and uh it wasn&#39;t that dramatic but I like to make it dramatic um because perjury no yeah he goes we&#39;re doing pretty well he goes I like to save and invest my money my partner kind of likes to spend his money but yeah we we run these big funds and long story short I every Sunday night I go to my dad&#39;s house we&#39;d sit down and we&#39;d go on the Whiteboard he&#39;d teach me about funds beyond that we talked about limited Partnerships General Partners how to launch of fun Etc and I finally got a point where I wanted to launch a fund and so I was like I&#39;m gonna do this and it&#39;s funny a funny thing in life when you start to learn about something you start to recognize that thing in your life you know what I mean you ever done that everybody bought a new car before all of a sudden you start seeing that car driving around everywhere right so I thought man I&#39;m gonna do a fund and I want to do that so I was in college I was working an internship at the time and a job and in college and I was at the job I was working at I saw an opportunity where we could start a fund for that company they actually needed um financing for some of their clients so debt fun of like hey we could Finance them we could do a little debt like a little Loan program etc for them would that work and the owners of the business loved it I went to my dad we sat down we mapped the whole thing out I was like could this work you know and so um we put us all together we&#39;re so excited we&#39;ve got our little fun framed out here&#39;s Michael Scott we were really excited to meet my dad framing everything out this is gonna work you know and um I hit this wall it&#39;s like crap now I gotta raise money like shoot but then I thought aha my dad Super Rich apparently I&#39;ll just go pitch my dad would be awesome right and so I was like easy easy money let&#39;s go so I went I went and talked to my dad and uh sat down with him and went to my this little him into his office I remember Sunday night and I said Dad how would you like to be our first investor into our fund had my own pitch and everything he&#39;d actually helped me a ton he&#39;d help me a lot of my fun it was awesome it was great mentor great coach I said Dad how do you wanna you wanna be our first investor in this fund and my dad said your first investor is your hardest investor to find if I invest in your fund it would ruin the experience of you raising money on your own this will be a crutch that you&#39;ll never be able to recover from he said no I&#39;m not gonna put money in and it was a big tough love moment for me I was like okay he said you got to go learn how to raise money on your own and do this on your own so I left his little home office with my tail between my legs a little bit and walked out and and I said you know I&#39;m going to do this and uh we went out I hit the streets I talked to everybody I knew former bosses College professors friends from high school I mean like everybody and after weeks of pitching we raised a whopping 49 700 from like six different investors which by the way was a lot for me it&#39;s I know it&#39;s not a lot for you guys but it was a lot for me the times you clapped that up that was pretty good we thought it was pretty good and good enough it was actually enough to get started that was like enough we needed we were doing these small micro loans they were like two to three thousand dollars alone short term they were like a month our first group of investors we got them a 64 return of their money okay so good return small amount of money though but good return percentage right um and they were super happy we then launched our second fund we raised and deployed millions of dollars without second funds we ran that for I think three and a half years and then a year and a half ago I actually had a competitor come in and buy our whole fund we exited our entire fund which is awesome and by the way in just a minute we have Eddie Wilson coming out he&#39;s going to talk about buying and selling funds he&#39;s bought and sold hundreds of millions of dollars in funds which can be I&#39;m just so excited to hear him speak um we we did that which is pretty cool then since then we launched our um third phone which is ugly unicorn um which we&#39;ve done very well we&#39;ve and then that second one we did 200 200 plus deals in there deployed millions of dollars it&#39;s pretty awesome and today actually this is our performance from ugly unicorn as of our last reporting day which is pretty cool net rate of return of 14.71 and then year to date 39.61 percent on our other unicorn keep clap it up for that it&#39;s been pretty cool um we managed about 13 million in that fun we just started we&#39;re growing like crazy it&#39;s really fun so it&#39;s been a blast to be in the space um and we&#39;ll talk about that in just a few minutes so but I&#39;ve been able to spend amazing time with my family I&#39;ve Loved this game and being in business and by the way update on me a few things um I actually went yeah I don&#39;t know if you guys saw a post I actually went and rang the NASDAQ Bell or a few weeks ago which is pretty cool so I got invited it wasn&#39;t my company just disclaimer it was another group that just invited me out to be a guest there but it&#39;s pretty cool this is us at the NASDAQ and New York Stock Exchange okay which is kind of cool um this is the only picture that I got back from the ringing of the bell and if you zoom in that&#39;s me my mouth is open why do you I give if you blink I understand that but who when you&#39;re taking a picture goes like this but that&#39;s the picture I have so there you go that&#39;s my picture at the NASDAQ which is pretty cool in New York Etc this is my beautiful wife and and and Son Joni&#39;s now 18 months old we might have him come out tomorrow and so you guys can say hi to Jonah she&#39;s amazing um this is our beautiful family Etc and then we&#39;ve been able to donate to church we love we&#39;ve had this amazing amazing life we&#39;ll be able to travel and have us all sorts of stuff because I learned this game of funds because I learned what we&#39;re talking about here and we&#39;re still on this journey I&#39;m playing the long-term game I&#39;m gonna play the 30 40-year game I don&#39;t want to get rich quick I want to get rich in the long term and get really rich in the long term you&#39;re with me give me an amen to that okay so um this next segment I want to dive into you guys still with me is everyone okay yes you got energy good okay I want to go quick through here but I want to talk about launching a fund and actually the process of doing it and again you guys came to funlash live just so you&#39;re aware I go to a lot of conferences and events and they pump you up and they it&#39;s which is cool but like give me some juice give me some meat you know what I mean give me something I can use so all the speakers actually have asked them to give you Golden Nugget sessions I want to dive into that does that sound good there&#39;s gonna be some pumping up and stuff like that but we&#39;ll we&#39;ll dive in okay so we&#39;re gonna dive in so if you&#39;ve been struggling on this game and this process this is probably why um a lot of us are are well right here it&#39;s not I just want to let you know it&#39;s not your fault you haven&#39;t had the right vehicle or maybe have the right vehicle but fun but you don&#39;t have the right training to operate that vehicle okay so I&#39;m gonna walk through the training of how to launch this so I want to talk about a new way a better way to launch funds we call this the fund launch formula okay it&#39;s a framework we&#39;ve built out to launching funds um we&#39;ve helped I&#39;ve had an incredible amount of amazing people sit down across me and I&#39;ve been able to interview them my show 100 million billion dollar fund managers and what&#39;s interesting I started to interview them on how they launched their funds and all of them had a very similar story they use the same process I was like huh this is interesting I interviewed another guy kind of two questions on this process it was the same process I was like it&#39;s interesting so we finally coined the phrase let&#39;s just call it the fun launch formula if you go Google how to launch a fund terrible advice it&#39;s terrible advice and it&#39;s from some blog writer that had to write a blog that for their quota on funds and they went and Googled some stuff and it&#39;s completely terrible information so finally said we got to rewrite how to launch funds how entrepreneurs how Wall Street Rebels launch funds okay so this is a four-step process to launch a fund we&#39;re gonna dive in yeah sound good if you&#39;re with me say yes okay let&#39;s dive in so what we used to have to do at a Blog Reddit will tell you is go hire a lawyer they&#39;re like if you want to watch your fund go hire a lawyer pay 30 50 000 for a lawyer then go pitch investors then hopefully raise money and if no one likes to go back to the drawing board and start over and you&#39;re out fifty thousand dollars and good luck a lot of funds most funds never launch by the way most funds never launch because they do this they spend 50 and then you&#39;re already out 50 Grand on docks and you got to re-spend another figure and you&#39;re like I don&#39;t want to do this anymore and most funds never actually launch because they go this old dumb stupid way that blog writers put on on Instagram or whatever okay so this is the way we beat out the Harvard grads and people on Wall Street Etc now myself back to my dad I was like well Dad No One&#39;s Gonna invest in me no one I&#39;m I&#39;m too I don&#39;t have a track record No One&#39;s Gonna believe me I&#39;m too young I&#39;m inexperienced Etc like who&#39;s going to invest in me and my dad gave me this great example he said Bridger I want you to imagine right now we found this Lamborghini Aventador in Billings Montana okay this car is about a 300 000 car all right I think I put on here we&#39;ll put a a little bit lower yeah 300 000 car and this person selling this is going in they&#39;re they&#39;re going to bankruptcy Etc they just need money like this they need money by Saturday and they&#39;re willing to sell the car for 50 000 now just go with me as an example okay they&#39;re willing to sell the car for 50 000 cash Saturday morning and you could turn around on Monday and sell it for three hundred thousand dollars okay sound good you guys getting the scenario goes Bridger imagine we have this deal you got a phone call right now and it&#39;s verified we&#39;ve had people look at it&#39;s all checked out all you need to do is come up with 50 Grand by Saturday could you do it you can&#39;t use any of your own money could you find fifty thousand dollars by Saturday morning in this room who feels like they could find fifty thousand by Saturday morning it&#39;s all checked out Steel okay and I I was sitting there I was like you know what I don&#39;t have an experience but I have a pretty good deal I could I would stay up late I&#39;d call whoever I would knock on doors I&#39;m gonna make 250 000 this weekend in college dang straight I&#39;m fine at 50 Grand like I&#39;ll run through a brick wall for quarter million dollars and maybe we&#39;ll split at 50 50. maybe I&#39;ll make 100 Grand cool 100 Grand in a weekend like I&#39;m in I&#39;ll call I&#39;ll knock doors I&#39;ll go fine I&#39;m going to Grandma&#39;s house I&#39;m going to your my neighbor&#39;s Grandma&#39;s house I don&#39;t care who it is I&#39;m gonna talk to him yeah hear me say yes okay and I was like you know what I bet I could find it he goes Bridge what about 100 grand could you find a hundred thousand dollars I was like yeah I think you can do it he goes huh that&#39;s interesting three minutes ago you were telling me you&#39;re too young you&#39;re inexperienced you don&#39;t have the track record and all of a sudden you&#39;re telling me you could find fifty thousand dollars by Saturday huh and I was like huh it&#39;s interesting and he goes because when you have a deal that&#39;s so good people look past now it&#39;s still good to have credibility tracker it&#39;s still good to have all that but when you have a really good deal like this and you just say hey look at the deal you even cut me out just look at the deal you find the whole end deal it&#39;s a pretty good deal you can find a lot of capital that&#39;s how my dad&#39;s like this is how we raised our first fund we LED with deals so for example here&#39;s a real estate property pre-foreclosure okay so I want to put a different example not Lamborghinis but a property pre-foreclosure mortgage is 12.50 a month this guy is behind on his mortgage doesn&#39;t want to move out doesn&#39;t want to go bankrupt really doesn&#39;t want to go bankrupt just for Pride&#39;s sake okay so there&#39;s 300 000 of debt on the house if you rehabbed 100 Grand arv let&#39;s just call it 600 000 so after rehab value you could sell this property for 600 000 if you put 100 Grand into it rehab pre-foreclosure offer let&#39;s say we give this guy an offer at 350. okay so hey we&#39;ll give you I know you got more Equity than that you could probably maybe he&#39;s got 200 000 Equity hey you&#39;re not gonna go bankrupt we&#39;ll still give you 50 Grand of equity after we pay out debt you want to take this offer now some may say no but let&#39;s just say this guy says yes there&#39;s actually a whole study about 20 of pre foreclosure people will take a deal like this eighty percent won&#39;t but 20 will because they do not want to be foreclosed on and they actually can even rent the house back for me even when once you&#39;re done so if we did 350 plus 100K of rehab minus 600 you net 150 Grand how my real some people you guys know deals like this all you see deals like this all the time and what do you do when you pitch investors hey I may not have the greatest try I&#39;m not some Wall Street sharp whatever but just look at the deal how do we lose money if we buy this property for 350 how do we lose money all right all of a sudden if you&#39;re if you&#39;re in this room like I don&#39;t have a Tracker and I&#39;ll have the TR I don&#39;t have the XYZ thing I need lead with the deal and that&#39;s my dad taught me so step one of the fun launch formula is find an amazing deal for with me say find an amazing deal okay that&#39;s step number one of the phone launch program so lead with a great deal now a lot of people okay I&#39;m like and I&#39;m I&#39;m walking through the four steps to launch of fun okay Bridger I found a great deal okay I want to go there they always think okay I&#39;m gonna go to now I need to do a legal and it&#39;s like hold on before you do legal we got a few other steps and process now a few other examples of great deals I want to just give you guys more examples okay there are many inefficiencies across markets that money and strategy can solve okay say it one more time there&#39;s many inefficiencies and markets that money and strategy can solve so for example venture capital what&#39;s a market inefficiency that you&#39;re solving with Venture Capital there are startup Founders that have a great idea of minimal valuable product and they need Capital to hire and grow and get that product to Market ta-da a venture capital fund can come in and fill that market inefficiency and you have a great deal does that kind of make sense another example private money lending anybody do private money lending hard money lending Etc my dad&#39;s actually first photos he probably talked about tonight a little bit um over leverage someone typically right now today&#39;s market we&#39;re seeing this more and more you need money to float for the next let&#39;s call it six months okay um you take collateral real estate on the loan so you collateralize the loan let&#39;s say you have a house it&#39;s a million dollars hey I&#39;ll give you a loan of 500 000 if you don&#39;t pay back I&#39;ll take the house it&#39;s a million dollars so it&#39;s a win-win either they pay me back 500 000 plus my interest payment or they don&#39;t pay me back and I get the million dollar house right win-win is that going to make sense forgive me say yes okay real estate construction again inefficiencies in the market what they&#39;re essentially solving is there&#39;s a housing shortage certain people in the area want a lot of jobs and you build more units in that area to fill a market inefficiency that Capital can solve does that kind of make sense uh clothing brands anybody run a clothing brand here I have a bunch of friends that run major clothing brands they keep having this Chicken and the Egg problem they need sales to buy inventory and they need inventory to buy sales there&#39;s inefficiency there and they try to get bigger I have a friend who runs I think it&#39;s 15 million a year and he&#39;s like we&#39;re still having this problem we need more money to buy inventory to get more sales to get more inventory to get more sales and it&#39;s just this circle so we can do is come to inventory financing it fills a gap in that market does that kind of make sense you fill these inventory we have people in Black Card buying shipping containers moving them around the world it&#39;s pretty cool okay this is the concept of Arbitrage okay so the definition of if you&#39;ve heard of Arbitrage the definition of Arbitrage is buying one thing in one market and selling it for a different price in a different Market it&#39;s the only definition of Mark of Arbitrage most of us make a lot of money off of Arbitrage in a lot of ways so for instance water in the middle of the desert how much would you pay for a water in the middle of the desert ten twenty fifty dollars how much is water worth in Costco maybe a dollar two dollars so if you can take water from one market Costco it&#39;s a dollar and take it to a different market like the middle of the desert or an airplane you can sell it for a different price and you have an Arbitrage between those two prices that makes sense definition of Arbitrage so a great example my traders in the group long-term Capital Management it&#39;s a big fun on Wall Street in the 90s they did this their whole strategy was around they found an Arbitrage Play Between the 29.75-year treasury and the 30-year Treasury they found that the 30-year treasury was overbought because it was everyone knows the 30-year very few people know that 29.75 year who&#39;s heard of that right so what they did this is before it kind of a pre all the new systems and stuff they found that the 30-year treasury was overbought in the 29.75 year was underbought and all they did was just play that little Arbitrage there&#39;s other groups that have done this with Bitcoin they sell it in some countries versus other countries they&#39;re different prices between exchanges One exchange says the price of Bitcoin is this other exchanges say the price of Bitcoin is this what they do is just buy it on one exchange and sell another exchange does that kind of make sense Arbitrage play this actually happens in funds today is arbitrage play is that kind of making sense you read me say yes all right another one is economies of scale we talked about this earlier all economies of scale are many products right here many companies would be successful to come sale but don&#39;t have Capital to hit that point to produce one iPhone cost let&#39;s just call it 400 million dollars to produce one iPhone to get the attack and the engineers and everything how much does it cost to produce the second iPhone on average maybe at 200 million and the third iPhone is like 100 million a piece and the fifth iPhone it&#39;s like 30 million a piece and then it gets out once you produce a million iPhones the average cost to produce each iPhone is maybe 500 bucks it&#39;s called economies of scale right to boost the first ones very expensive but as you copy and paste that model you can have what they call economies of scale there are many companies out there waiting and hoping for someone in this room to start a fund to help get them to economies of scale does that kind of make sense they need that Capital injection to get there this is what we call um asymmetrical risk for your fund so you&#39;re trying to find asymmetrical asymmetric risk means we&#39;ve all heard high risk High reward right asymmetrical risker low risk low reward Ace Smasher risk means low risk with relatively High reward that&#39;s that Gap is called asymmetrics that&#39;s what we thrive on sound good so that&#39;s number one find an amazing deal okay is that kind of making sense you guys with me so far so Bridger okay I&#39;m ready for legal okay I want to do legal docs hold on that&#39;s number four once you have this great idea for your fun again four-step formula for fun launch go out and frame the deal we&#39;ll talk about some more tonight but you go frame the deal to prep the catch-up characters how the whole deal is put together how you investors get paid back structure offering deal etc then before you go do all this other stuff go and raise Capital so number three go actually and Pitch investors go actually start floating this round of app see if they&#39;re interested in this credential deal again before you spend all the money so um now how am I going to raise money without legal docs Bridger go and soft float this to investors go find mentors people in your life hey would you invest in this deal if we if we actually paid for legal docs did everything would you actually invest in this what you do is you build what I call soft commitments or verbal commitments into a deal before you go build it okay with the legal docs now but Bridger who&#39;s going to give me the money I love this quote from Warren Buffett he says when I was young I had a lot of ideas and not a lot of money and now that I&#39;m old the roles have reversed and I like investing in people with great ideas but not but just need money uh take a wild guess what&#39;s the average net worth of a baby boomer right now anybody shout it out 2 million what&#39;d you say 1.5 Etc I was actually spot on the average net worth is 1.175 that kind of crazy I did not expect that when I looked this up the average the average not like the high end would have the average the middle is 1.175 there are a lot of baby boomers or people that are older generation right here 84 trillion dollars they control and a lot of them are just like Warren Buffett I want to invest into people and younger people that have ideas funds Etc they can just put my Capital to work okay so next time you see a boomer be nice okay all right be nice to them because they&#39;ve got a lot of money they&#39;re gonna send you away all right so again get soft commits from investors and then and only then go and finish your legal docs LP hire my brother come out and he can do all the legal doctor firms like his to come and do our docs huge 100 page documents typically just so you&#39;re aware they&#39;re about anyways this is just from websites 50 to maybe even 300 000 for docs now you can reimburse those though back from your fund okay um so that is that was a pretty quick version but the best way to launch a fund is through the fun launch form is that kind of make sense four steps is that pretty good you can climbing up for the fun last formula it&#39;s not bad now Bridger I&#39;m just gonna say this I&#39;m not smart enough to do this we&#39;re not you know might be feeling I&#39;m not smart enough I can&#39;t do this this is too complex again if these three individuals can do what they do we can do everything yeah can I get an amen all right so um I want to emphasize this and then we&#39;ll wrap up we got our next speaker coming on um it&#39;s not the how it&#39;s The Who so I know there&#39;s a lot of people in here man I don&#39;t know how to flip a house I don&#39;t know how to trade I don&#39;t know how to do a fun Etc that&#39;s okay very few funds almost zero funds are run by one person there&#39;s actually three distinct categories of people in a fund you have your expert investor your fund manager and your money Raiser expert investor is the person that&#39;s maybe really good at life in my fund for example I&#39;m I&#39;m not good at crypto I don&#39;t know anything about crypto my business partner is always a geek on crypto he&#39;s amazing at crypto I&#39;m very good at fund management running a fund how to build an SEC structure Etc and both of us help raise money together does that kind of make sense so that&#39;s kind of how they mix together so at this conference look around for people that can fit one of these categories you don&#39;t need to be the expert on all of them just be really good at one of them hey maybe I&#39;m really good at raising cap and I&#39;m really good at networking meeting people I&#39;m really good at maybe trading options maybe I&#39;m really good at fund management Etc and find people you can connect with the partners that sound good with me say yes okay build those amazing teams so again the best way to launch a funnel through the fun launch formula um now when I first started going to events I was skeptical I go to events and I was like I don&#39;t know about the speaker the stuff on stage Etc and I would always sit in the back and kind of like you know I&#39;m I you know whatever push it away and I want to invite you for these next three days to put your ego aside and go all in and have in the back of your brain maybe there&#39;s a chance that what that person&#39;s saying on stage has something to it maybe there&#39;s a chance someone that someone&#39;s saying on stage maybe they&#39;ve been through something before that I haven&#39;t been through and I can learn from them so I&#39;m going to ask this group especially in the finance Community Etc we love to be like the skeptic and like I know better Etc I&#39;m going to ask you to put your egos aside a little bit and buy in and just go with go with the speaker whoever&#39;s up here&#39;s like you know I&#39;ll just go with you I&#39;m gonna take my I&#39;m gonna take notes I&#39;m just gonna go with you for a little bit is that sound fair I love this book let me read this book it&#39;s called The Go Giver short little book oh a bunch of people okay this book talks about the concept of being a go-giver meaning you know some people in which is great they give money at the end of the year they have a big check they write like a huge check out to a charity Etc this book talks about the concept of having little little giveaways your whole life being a go be always ready to give money or share something to other people actually me and my wife started doing this really it was a funnest thing we ever spent our money on we&#39;d put 50 or 100 bills in our pocket and just always have them on us so if we were at the grocery store or wherever and we saw someone that needed their groceries paid for them you just bam hey here you go I got your groceries no worries that&#39;s a really fun way to spend money and uh it&#39;s all from this book it talked about the concept of go giving and being always ready to give and I personally I I don&#39;t love to give to people that are begging I mean I kind of do but I really love to give to people that are working like the cashier working at Smith&#39;s that&#39;s my favorite part like you know people that are like have kids at home are trying to work like doing all this kind of stuff Additionally you don&#39;t have to just give money I&#39;m going to invite you at this conference to give be a go-giver to the people around you give them contacts your network your smile your engagement be a go-giver be someone that goes out and actively is thinking about how to serve the people around you what will happen is you&#39;re gonna find they&#39;re going to serve you back 10 times more and you&#39;ll get way more than you ever put in get in the habit of I love this quote get in the habit of go giving yeah I&#39;m gonna invite you to get in the habit of go get it but the reason I love this because it&#39;s by me this is my quote okay just kidding but get in the habit of code giving all right so um during this conference of this day give to the people around you talk to them meet them don&#39;t go to lunch alone don&#39;t go to dinner alone grab someone who hey let&#39;s go to dinner together let&#39;s go to lunch together we&#39;re gonna give you guys breaks and time to go Network you have plenty of time to network don&#39;t be stressed out about it we have plenty of stuff planned for you to network and meet people be a go Giver y&#39;all are amazing my name is Bridget Pennington thank you guys so much y&#39;all are amazing thank you

fun Lords live get on your feet put your hands together and help me welcome to the stage Bridger Pennington [Music] [Music] [Applause] how&amp;#39;s everybody doing today all right [Applause] you guys ah welcome in welcome in take your seats wow we made it huh we are here um everybody throw anybody&amp;#39;s ever thrown like a party at your house before or something and you worry if people are gonna show up we you guys cave so anyways we&amp;#39;re here it&amp;#39;s awesome um welcome to phone launch live it&amp;#39;s amazing um I just sorry I lost backstage I was tearing up watching that video um it&amp;#39;s just amazing um and that video and all the confidence to this group and it&amp;#39;s a reflection on us as a group and what we can do and what we can go after and what you guys can do and um I was just I&amp;#39;m Blown Away I&amp;#39;m blown away this but what we together have built and I feel like this event feels a little bit like a family reunion sometimes there&amp;#39;s people on Zoom I talk to a lot of you guys I talk to on Zoom we meet up whatever but it&amp;#39;s fun to come back in person from last year to this year and see oh what&amp;#39;s the update what are you doing oh we raised money we&amp;#39;re doing this fun it&amp;#39;s pretty awesome it&amp;#39;s just remarkable to see what this group has done so and we&amp;#39;re just getting started hey we&amp;#39;re only we&amp;#39;re only just getting started on this so give a huge round of applause to you guys for all the stuff this group has done is amazing um ah this is phenomenal now uh yes I have a beard um I saw a quote from Alex or Mosey uh online I thought it was pretty good for me it was this quote right here it says if you&amp;#39;re an ugly dude consider a beard leaves half your face to their imagination so here we are with half my face to your imagination um which is pretty fun so we&amp;#39;re gonna have a great time uh the next three days I promise to go all out I promise to I&amp;#39;m gonna give you our full everything we&amp;#39;ve got does that sound good I&amp;#39;m gonna play all out um now Devon talked about this a little bit I&amp;#39;m gonna do the same with Devon we&amp;#39;re gonna try to keep the energy high in this room I&amp;#39;m gonna do callbacks I&amp;#39;m gonna be asking if you&amp;#39;re there Etc and I&amp;#39;m not doing it for me just so everyone&amp;#39;s aware so I&amp;#39;ll be like if you&amp;#39;re with me say yes okay that was awesome that was really good the reason I do that just so you&amp;#39;re aware there&amp;#39;s some people in this room like I&amp;#39;ll never do that psychologists tell us if we show up to an event like this and we just sit there and listen you remember long term about zero percent of what you listen if you actually take notes we actually when you checked in we gave you notebooks all that kind of stuff you take notes that jumps from zero to about three to five percent so 35 that&amp;#39;s pretty good of long-term memory what you&amp;#39;re retained if you use your body and voice and energy that number jumps to about 15 to 20 percent which you retain long term Who&amp;#39;s down to get to 15 to 20 yeah okay you&amp;#39;re with me say yes okay so I&amp;#39;m gonna do callbacks like that we&amp;#39;re gonna do stuff and it&amp;#39;s not just I mean it is fun to do but it&amp;#39;s more to help you be engaged I want your time is very valuable it&amp;#39;s the most valuable asset we have is time so I want you to be here present and using the best of your ability for all this sound good okay it&amp;#39;s gonna be a fun uh fun three days so I want to talk about a few things we&amp;#39;re going to Dive Right In is that okay we&amp;#39;re gonna Dive Right In we&amp;#39;ve got a bunch of fun stuff planned I&amp;#39;ve got a fun session here I want to go deep on funds I want to share a set of good groundwork um a lot of you guys maybe have heard some of this stuff but I&amp;#39;m adding a ton of new examples and new things in here to help go from there sound good now I think I love this I think we romanticize the small business owner a little too much who owns a small business yeah a lot of people in this room now I&amp;#39;m all for small business you hear about in the politics news we&amp;#39;re trying to protect small business owners Etc I think we romanticize it a little too much meaning like being a small business owner in itself is awesome but it&amp;#39;s a step to another further thing if that makes sense um Stephen Schwartzman co-founder of Blackstone said this so 400 billion anybody know Blackstone in here I mean huge group right we&amp;#39;re gonna talk about a few examples from Blackstone in his book he talks about this he goes it&amp;#39;s hard to run it&amp;#39;s just as hard to run a small business as it is to run a big business it takes about the same amount of work takes everything you got can I get an amen on that for my small business owners right amen it takes everything you got so he goes if you&amp;#39;re gonna be into business you&amp;#39;re gonna take everything you got you might as well go after a business that can be big and make a lot of money and has lots of margin it&amp;#39;s a fantastic book called e-myth that talks about this a lot of us small business owners we know we wake up we&amp;#39;re in a bakery we&amp;#39;re making the bread we have to wake up we do the accounting we do the marketing at late night we stay up we make sure the numbers the QuickBooks is done we do everything right and we become slaves to our business so again I think we romanticize the small business owner too much is that kind of making sense the idea is not to be a small business owner anymore it&amp;#39;s to be a big business owner right and have huge markets a lot bigger things so um a really interesting book anybody heard of this book 10x is easier than 2x so I saw this book and I thought that&amp;#39;s kind of a Cheesy title the 10x you know thing like oh your 10x just set your goal 10x is like okay but I loved his Concept in here so uh Dan Sullivan goes through he goes 10x is easier than 2x with this whole concept now in this room if I asked you show me some write down ways that you could 2x your business over the next five years think through actually let me think right now think of some ways you could 2x your business over the next five years probably a lot of ways you run ads you could do a marketing you do an affiliate program you do all this cool stuff there probably is about a hundred things you could come up with right to 2X or incrementally increase your business but he goes if I told you what are ways that you could literally 10x your business in the next let&amp;#39;s call it three years how many ideas could you come up with and most people go from a hundred ideas down to two or three does that kind of makes sense and actually I read this and I I was like huh and it stuck with me at a late night I was thinking about it we had in our I was like guys we got to stop thinking of there&amp;#39;s it&amp;#39;s it&amp;#39;s great don&amp;#39;t put it away but these are all incremental games we could add an employee here do this little thing it&amp;#39;s going to incrementally grow our business but what are the one or two things that will 10x are literally go from 10 million a year to 100 million a year that&amp;#39;s a big jump 100 million a year to a billion a year that&amp;#39;s a big jump there&amp;#39;s probably only two or three ways that we could get there and instead of trying to chase a hundred rabbits and catch 100 rabbits at once you catch one or two rabbits is that gonna make sense through me say yes okay so and he has this coin here he goes achieving 10x growth is actually exponentially easier than striving keep striving for 2x growth this is a reason a lot of the small business owners stay small business owners because they don&amp;#39;t set the plans and processes to hit that 10x is that kind of making sense that was a pretty concept I&amp;#39;ve stayed with now most businesses today needed significant Capital to grow all these logos on the screen you go watch their story the way to get that 10x growth was they needed a lot of capital to grow franchise to new products new development Etc does that kind of make sense Capital was a huge piece of Leverage um Robert Kiyosaki coined this very well but this has been taught for centuries in business here&amp;#39;s four different types of Leverage in business um different ways that you can use think about a lever right you can leverage your business in different ways number one so this is in Rich Dad Poor Dad but it&amp;#39;s across Across the Universe of business number one is capital capital is a huge leverage point of business number two is people so human capital major major lever Point number three is technology and number four is Media so again think about leverage those are the four Mains leverage points that any of us can use in business does that kind of making sense so you can leverage the media think about like Ryan Reynolds have you seen all these these actors that are using um alcohol just drastically they&amp;#39;re like all of them now have an alcohol or a brand that they&amp;#39;re taking and then they exit for a billion dollars you guys seen this the reason the alcohol company does that is they go find an actor let&amp;#39;s use media as a leverage point we&amp;#39;ll make this a billion dollar brand we&amp;#39;ll give that person 20 equity may take 200 million we take 800 800 million that&amp;#39;s they use leverage they leverage media technology people Capital Etc that kind of make sense through me say yes so um now oh let me go back a little bit the um the top one here capital I would argue is the most important for the rest of the three if you have capital you can leverage all the other three if you don&amp;#39;t have Capital you can still leverage them it just is a lot harder does that make sense if you have like a fund tons of capital you you can leverage media a lot easier you can go pay Ryan Reynolds a huge check right you can leverage technology you can buy big Tech stack whatever you&amp;#39;re going to use in your company you can go higher a whole Army of people to if you think back to these companies before that&amp;#39;s what they did they leverage capital right let&amp;#39;s hear it go back on a to a huge extent to scalar companies does that kind of make sense so the next three days we&amp;#39;re going to talk about leveraging this piece the most of capital so welcome to fun launch live this may be the most important conference you ever attend for all your business Etc in the future sound good so give your guys a huge round of applause welcome to fun launch live [Music] now I hope this event is what we call an event horizon an event horizon in my terminology is a moment in time think about like a peak you remember everything before that moment and everything after that moment I&amp;#39;m guessing thing in your life there&amp;#39;s probably a few things in your life that are event Horizons maybe you met a person and you remember everything before you met that person everything after you met that person but you were a changed person after you met that person that kind of makes sense or there was a moment or a thing that just changed Who You Are I might actually want to share one that happened with me and Mason um a few years ago this we actually attend an event similar to this one as an online marketing one and here&amp;#39;s a picture we got uh in 2019 with Russell Brunson anybody know Russell Brunson go Russell we love Russell he&amp;#39;s awesome um we&amp;#39;ll talk about him later today actually but this is event 2019 we framed out everything at the event so we attended just like you we sat down I was taking notes all day at night we go to our hotel room and we were mapping it out we were going like everything we have today at fun launch we mapped out in one way shape or form at that 2019 event it was an event horizon for us I mean it changed I literally was that I came to that event and I was a changed person after I knew after I left those three days I was there I said I am going to do business differently I&amp;#39;m gonna think differently I&amp;#39;m gonna play bigger I&amp;#39;m gonna have a full different mindset and I&amp;#39;m hoping something like that can happen here last last stage me and Mason were talking about this and this whole story and I was thinking about this group that was coming today and we had a sold out crowd and it was it was just amazing and I thought I&amp;#39;m basing I was kind of asking the question like who should I base my talk to who should I speak to should I speak to people that already run existing funds people that don&amp;#39;t run funds yeah people that don&amp;#39;t even know what funds are people the first time here people that were here last year like who&amp;#39;s my direct person I talked to and we finally came to I said I&amp;#39;m going to talk to my 2019 self I&amp;#39;m going to talk to my younger self and I&amp;#39;m hoping there&amp;#39;s one or two people in this crowd it&amp;#39;s like a younger me whether that&amp;#39;s actually by age or by in business or this category or whatever but can come and say I&amp;#39;m gonna have an event horizon everything&amp;#39;s gonna be different after this event is that going to make sense yeah through with me give me an Ura all right so actually following that up we actually joined Russell&amp;#39;s group it&amp;#39;s 150 000 we paid him just because we felt so indebted to him I was like Russell we just thank you so much for this and what you did we paid 150 Grand to join his group and by the way I know there&amp;#39;s some people in this group like I would never pay 150 grand for something right the way I think about it&amp;#39;s like well if I pay 150 Grand I get back 300 000 or 400 000 or 500 000 I&amp;#39;ll pay 150 grand every day of the week yeah raise a hands who else would do that if I said pay a million but you&amp;#39;ll get back 3 million who&amp;#39;s gonna take that deal I&amp;#39;ll take it so the price is obsolete right it&amp;#39;s more about what am I going to get back and we want to take fun launch to a billion dollar company and he&amp;#39;s already done that so we said hey why don&amp;#39;t we join here and he can help us do that right follow I&amp;#39;m just going to copy what people do I&amp;#39;m I&amp;#39;m not a guy that likes I like to just copy what works I&amp;#39;ll just keep doing it so um phone launch line is going to be a fun three days we&amp;#39;re having an awesome time with you guys we got amazing speakers we have actually hand selected every single speaker coming to speak for different people that actually so we have a in Black Card we&amp;#39;re gonna talk about black card but I meet people all the time that have problems in their business I have a problem like raising money or this thing with a business partner or something I don&amp;#39;t understand this we&amp;#39;ve actually hand selected all of our speakers to answer different topics different categories essentially different concerns we&amp;#39;ve heard from this community for the last year so these aren&amp;#39;t just random Spirit just so you know I personally hand selected called them beforehand walked them through we had a very in-depth process and so I&amp;#39;m so excited for you guys to hear from today sound good yeah okay now uh the next segment here speaking of Masonite on the screen I actually want to bring Mason to the stage in just a second okay so um I&amp;#39;m not as good as Devon but I want to bring him to the stage and have a cool entrance we&amp;#39;re gonna do what we call the state of fund launch so we did this last year I thought it was kind of cool um you know they do the State of the Union Address and it&amp;#39;s whatever a bunch of politics and stuff we want to do kind of the state of fun launch so where we&amp;#39;re at what&amp;#39;s the new products we&amp;#39;re doing what&amp;#39;s kind of coming out Etc so in just a second I&amp;#39;m gonna bring Mason to the stage we&amp;#39;re gonna do kind of this state of fun launch sound good so you guys ready AV team Mason you&amp;#39;re ready okay if you guys can help me ready get on your feet and welcome to the stage Mr Mason friends [Applause] [Music] [Applause] [Music] we&amp;#39;re here now just you guys are aware me and Mason are 50 50 Partners on fun launch I know I&amp;#39;m the face I&amp;#39;m like on stage and stuff but Mason has is incredible online Market the reason you guys are all on your seats reason you read emails everything is all from Mason all the funnels everything is built by this guy so again huge round of applause for Mason unreal um so let&amp;#39;s do the state of fun launch yeah we&amp;#39;ve done a lot in last 12. we actually were totaling it up and it was uh it&amp;#39;s a lot of stuff we actually took out slabs right that&amp;#39;s too much we just can&amp;#39;t go into everything so uh first things up do you want to go through the first one yeah first order of business last year this event you&amp;#39;re known as invested fun Secrets really long name kind of hard to spell kind of hard to say so we decided to simplify and make the brand a lot better so now we are known as fun live [Music] yeah good job okay pretty cool there we go you guys like fun lunch better us too yeah investment funds Secret is a little too much investment funsecrets.com it was just it&amp;#39;s just a doozy it was a little much so we were officially fun Lodge here um over last year our student growth has blown last year on stage we were about 16 000 members total uh we got the the number here I know the video is a little outdated 59 792 members of the photos Community give that huge round of applause for all of you I mean that is crazy I mean just on this I don&amp;#39;t know if anybody&amp;#39;s ever created like let&amp;#39;s just call it a video or a course before like we we started this whole camera without a tournament we started a course on funds and you kind of Hope like maybe 50 people will take it or a hundred maybe 200 would be really cool and then it&amp;#39;s like wow a thousand and then 10 000 people and then 50 000 people like wow I want to like learn this it&amp;#39;s it&amp;#39;s really cool to see uh so it&amp;#39;s been done so anyways huge code is that student growth it&amp;#39;s been amazing additionally black I&amp;#39;m sorry yeah go ahead black card has grown a ton we uh pour a lot into this this year um since last time you met we did our Black Card event yep um and uh we did the race cars at Vegas it was a really good time and uh we added two new events since that last time we met and so since then we did um our Salt Lake City Event who was at that Salt Lake City Event Salt Lake City it was great we did a workshop for two days and just dove in everyone&amp;#39;s fun super Nitty Gritty a great time and then last year from launch live we announced our first exotic event and so in October everyone came out to Cancun Mexico and we had this really nice all-inclusive resort it was a great time and how that worked kind of all day everyone would come and have fun go to the beach eat drink zip lines like you name it it was a great time in that night time we dive into the sessions have speakers do workshops and all that stuff so it was a really fun time and uh we&amp;#39;re excited to just keep adding the Black Earth and actually we have a video for this Cancun event we can start playing too so here&amp;#39;s the video if you get that volume up that&amp;#39;d be great thank you [Music] [Music] foreign [Music] [Music] foreign so we&amp;#39;ve got three events total now for blacker we added two last year so we have an exotic event we&amp;#39;re actually announcing the details of the next one tomorrow so no yeah it&amp;#39;s like Christmas morning I can&amp;#39;t sleep uh anyways we&amp;#39;ll announce that tomorrow we have the workshop we do um again it&amp;#39;s more of a we go very in depth in your funds Etc and then we have fun launch live we have kind of a bonus event we&amp;#39;re doing actually Friday we haven&amp;#39;t announced the details yeah we&amp;#39;ll announce that tomorrow uh we have a fun one in just a couple days that&amp;#39;s the editions of Black Card sound good pretty good collab enough for that pretty awesome additionally Black Card members if you checked in you got this cool piece of merch which is kind of fun now something Masons do a little spin for us um custom made now what&amp;#39;s cool about this and maybe we anyways we didn&amp;#39;t know how to tell you on whatever but there&amp;#39;s a QR code on the tag for everyone that got a black card shirt there&amp;#39;s a QR to the cad and what you do is you scan that QR code you opt in and it&amp;#39;s four we&amp;#39;re doing a giveaway we&amp;#39;re gonna give away at the last day um we&amp;#39;ve we get invited to a bunch of events they&amp;#39;re usually small like the Greenwich economic Forum World economic Forum types they&amp;#39;re usually five to ten thousand dollars a ticket and it&amp;#39;s usually about a hundred people are invited um we have three tickets it&amp;#39;s one of these events about five thousand so me I&amp;#39;m going Link in here you can hear it from a little bit&amp;#39;s gonna go and then also one of you guys so we&amp;#39;re gonna have one of our black rumors we&amp;#39;re gonna pick you the last day to come with us does that make sure you guys scan that make sure you guys opt in because it&amp;#39;s gonna be a fun time might as well and if you&amp;#39;re not a black car member No Stealing the shirts and trying to get the QR code okay we&amp;#39;ll check the emails but it should be pretty fun we&amp;#39;ll give that away as well additionally we added three new office hours since last year we have a compliance hour we have a series 65 training and we added office hours every single day of the week and so if you guys need help ever like we&amp;#39;re there to answer and help you guys and to answer all your questions so kind of fun yep additionally um last year we had so in Black Card a lot of you get access to League work and stuff and we had I think one or two legal Partners we&amp;#39;ve added um an additional four new legal Partners this year so for people that have international funds people that are doing feeder funds people that are doing European funds Etc Canadian funds we have legal teams now that can do all those types of funds for everybody in this audience last year we were pretty much just like domestic funds now we can do them all around the world and we actually think you&amp;#39;re adding another two we don&amp;#39;t have them yet but two pending right now as well to have a bunch of different law firms that you guys can use and access inside of Black Card sound cool clap it up for that pretty good pretty awesome additionally um just to list off a ton of stuff we had a ton of things we have five new coaches to Black cards pretty cool I know where coaches in here raise their hands where are they at they might be I think we haven&amp;#39;t done something else okay on the back okay Coach we have five new coaches we&amp;#39;ve revamped our whole course in phases we have a full in-house pitch deck designer we also have new banking Partners um since all of them collapsed uh the last couple months um we had to find some new ones so we have new marketing partners and uh that&amp;#39;s kind of the new additions for black cards so Cloud enough for Black Card pretty cool we&amp;#39;ve been working like crazy on all the new stuff uh to have for you guys additionally a lot of people have asked us to us to partner with them on their funds and for the longest time you kind of said no like you&amp;#39;re not interested but we finally kind of looked at it and we realized it could be something pretty cool and so last year we launched Black Card Capital Partners BCP essentially uh what we&amp;#39;ll do is we&amp;#39;ll partner through on your fund and any need you guys have anything you need help with like we&amp;#39;re there to serve and to make this fun to work and So currently we have eight people we partnered with um on those funds which is pretty awesome um yeah we uh the idea is just we&amp;#39;ll we&amp;#39;ll come help them with whatever so we&amp;#39;re very selective with who we partner with we&amp;#39;ll sit on their board investment committee we&amp;#39;ll do it depends on each deal is a little bit different but we actually come in we select who we want to work with so we have eight so far we&amp;#39;ve worked with Lincoln is the ones really headed that up did an incredible job it&amp;#39;s been amazing primarily our Black Card members the people that we&amp;#39;re partnering with which is pretty cool because those amazing funds we can we kind of can help each other we can help them a ton they have a really cool idea and really cool fun we can go from there so clap it up for Black Card Capital partners pretty fun um so we actually want to take you back a little bit when we first started fun launch um we had no idea if anybody would even want to learn about funds I remember talking to my dad and my brother they&amp;#39;re sitting right here and they were like man I don&amp;#39;t know if do you think people want to learn about funds or not like does anybody even care about this industry and evidently they do okay so people have to learn about funds it was funny so we&amp;#39;ll take you back a little bit this is actually a picture of me and Mason I don&amp;#39;t know what year this was 2018. maybe 2018 2019 we were starting to map out what this would look like on a whiteboard it&amp;#39;s after that event horizon I talked about and we were here and we decided we wanted to put together kind of a mini couple videos a mini course for funds keep in mind like there was no audience no Community out like it just didn&amp;#39;t exist and so we were kind of taking a shot in the dark like hopefully somebody will maybe watch this for 47 bucks or whatever so we put together this course we&amp;#39;re just spent all weekend filming it we had about 500 bucks we were willing to invest into it put the 500 into ads and just we&amp;#39;re gonna see what happens and over the weekend that 500 turned into about 950 or so which is if you guys ever done a startup business type like that&amp;#39;s pretty awesome you have at least some customers and that was the first step and so we kind of saw that were great so over the next four months we just kept dumping the you know the prophecies and ads and kept doing that over and over again and I think over four months there&amp;#39;s like 55 000 Revenue it&amp;#39;s really small but we had about a thousand 1100 clients which is great and uh eventually everyone&amp;#39;s like what&amp;#39;s the next thing like did any of you guys join that original it&amp;#39;s 47 it was called the mini ball anybody in here that since retired yeah oh a couple of people okay this is awesome you guys are like the ogs that was the first thing we ever launched we&amp;#39;re like well people maybe like this thing and we had a thousand people buy and join the and so they were like people are asking us wait what&amp;#39;s the next thing and this is this is us in the Whiteboard again after many hours so probably two months merger went out there and he was you know interviewing all the top five Mayors in the United States and we&amp;#39;re kind of starting to build this really comprehensive course out because that mini bottle is really in menial is like 10 videos in it so it&amp;#39;s really small so everyone wanted the next big thing he filmed and grinded on that I was in the back kind of just promote this webinar and just kind of build up this hype for it and uh because to this point too like no one&amp;#39;s ever really shown their face to us like there&amp;#39;s a few buyers on the internet but you don&amp;#39;t really have that communication with them you know so we uh we promote this big webinar and on webinar day to our surprise there was like 370 crazy people that decided to show up and attend this webinar just super excited this is a picture so we brought my dad on who&amp;#39;s going to speak later today which is pretty cool who&amp;#39;s here laugh or hear my dad speak pretty fun my dad was actually voted best speaker of last year so he&amp;#39;ll be speaking later this afternoon which is pretty cool uh we&amp;#39;ll see if I can beat him this year I&amp;#39;m gonna try to beat you this year okay uh but you remember when I was it was pretty fun we got a whole vote after but this is my dad on the original webinar so we had about if anybody has thrown a webinar any type of class I mean to get 300 people to show up was a big deal I mean we were at least for us we were like this is so cool like we have people on we get on live and the webinar software keeps breaking so we&amp;#39;re on I think it was webinar Jam or one of those webinar softwares and it&amp;#39;s glitching out they&amp;#39;re so engaged like people are spamming every two seconds there&amp;#39;s like 100 chats coming in we were having people like type yes in the chat and it was like everything would just break it was like and we were like oh no and so we&amp;#39;re stressing out I&amp;#39;m like and I&amp;#39;m behind the camera like Lisa what do we do what do we do what do we do and then so Mason knew his genius he&amp;#39;s like he pulls out his credit card spends I don&amp;#39;t know how much money like 1200 bucks it&amp;#39;s like all the money I had at the time yeah throws it on a credit card bought the best zoom account you can buy so on Zoom this is like free covet too this is free before Zoom but he bought the best zoom account possible thankfully there was a redirect like board link we put it in there we booted everyone from webinar Jam to zoom and zoom worked phenomenal and it worked and everyone I think we only lost like 20 people maybe that&amp;#39;s great which was awesome it was amazing that people stayed we did this whole webinar we launched this little teeny it was called The Mastermind that time today it&amp;#39;s called The Academy we launched this little course and it was amazing I think 76 people joined on that initial launch which is anybody in the group that joined on the initial one of course anybody&amp;#39;s here we usually have a couple here there&amp;#39;s a couple hands I see a few over there yeah um pretty cool well thanks you guys for joining that I mentioned one it was amazing and actually we&amp;#39;re gonna talk about the words in a minute a bunch of our award winners of people that have won 10 or 100 million dollar funds actually were on that original call and joined which is amazing they launched successful funds it was really cool if we launched it anyways we do this whole webinar it&amp;#39;s awesome it&amp;#39;s going good and I look behind the camera because it was just a stressful well it was like two hours I look and made this is in my house and Mason is behind the camera face down on the ground with his hands like this over his head on the floor like just breathing and I was like Mason we did it and he&amp;#39;s like I know we did it it was just so stressful so it launched was amazing so kudos to amazing pretty this is us a picture you can see the stress kind of draining from our face this is literally right after um was at this moment too that we kind of started to realize like okay this is something special and this could actually build something crazy yeah um and that was kind of the Breakthrough moment for us which is pretty awesome so so thank you guys for joining that original and that&amp;#39;s we really put everything on the line for that if that wouldn&amp;#39;t have worked we probably wouldn&amp;#39;t be here today um which is pretty cool so after that we got shoes to celebrate as you guys may have known if you follow our Instagrams on me and Mason love sneakers we love shoes we love getting special shoes Etc and so we got shoes to celebrate and so we got these original shoes and we actually wrote We like signed the bottom of them if you see like NBA players will do that like the right special stuff about their shoes on there so we wrote like the launch date the day we did the webinar how like we kind of wrote the little storage this is like a memorabilia item on our Shelf and then since then pretty much every major milestone in our career business whatever we&amp;#39;ve bought shoes I think those ones which ones are those ones these are the million dollar shoes so so when we had a million dollars of fun launch WE Mason bought these shoes like custom and stuff on the side I actually just got these shoes for today which is pretty cool I was expecting this to go really well so I bought I pre-bought my shoes this year these are like custom they&amp;#39;ve got anyways our logo and stuff on them I have a shoe designer that makes these shoes it&amp;#39;s pretty cool so it&amp;#39;s kind of fun so we love getting shoes it was a cool way to like have a moment like something you celebrate because in business it&amp;#39;s typically pretty boring you like make some money and what do you do you go to dinner like what do you do you like okay we&amp;#39;ll go party tonight like what do you do like there&amp;#39;s not like this award or trophy or something to like we love playing sports growing up and it was just cool to like have your hand raised like get a championship or something so we decided to make something for this group in the fun space some of you guys may have seen this before so we launched last year this is called The Wall Street Rebel award for any fund over 10 million dollars and actually last year we had a bunch of Award winners come on stage um and you saw on the screen we have a bunch of new Awards so actually Mason yeah do you want to let&amp;#39;s grab these real quick so any fund over 10 million AUM these are a custom pair of sneakers custom to you so right here yeah here they are they&amp;#39;re all one of ones they&amp;#39;re unique carbon fiber they&amp;#39;re custom painted your logo and stuff goes on and it&amp;#39;s pretty cool so they have your name right here you can&amp;#39;t probably see it from the camera but your name&amp;#39;s right here yeah we can we can add different stuff for your sneakers what you can do is go put on the Shelf Etc you want to grab the box too it comes in a custom box with like engraving your name it comes with a nameplate like it&amp;#39;s an actual like trophy thing actually over the last year we&amp;#39;ve made it even better and better um um hold up Mason uh bring this over it&amp;#39;s got QVC right now it doesn&amp;#39;t feel like QVC dude that&amp;#39;s a little online shopping here we go our next item so this is the box it&amp;#39;s got engraving you can put your name on everything right here so it&amp;#39;s kind of an award something you can put on your shelf like dude we did this which is awesome does that sound kind of cool who would love to get something like that on yourself yeah I mean they&amp;#39;re kind of cool so this year we have a bunch of Award winners um now we also we have different different people at different stages so we actually launched a new award this year I don&amp;#39;t think anybody&amp;#39;s seen this um so this is we have a lot of funds over a million dollars so this is the million dollar Wall Street Rebel award so tomorrow on stage we&amp;#39;re having Awards time where you guys can get one of these if you have over a million dollars in your fund to kind of celebrate the Milestone so you&amp;#39;ll come up on stage you&amp;#39;ll be right here with Mason and me get a picture and be on stage Etc it&amp;#39;s kind of a winner it&amp;#39;s kind of the teaser for the uh the big dogs too yeah so which is pretty fun and then we also have the 100 million dollar award so this is uh I think Mason&amp;#39;s got over here too 24 karat gold on the paint that&amp;#39;s pretty nice yeah the paint actually is 24 karat gold paint um which is awesome they&amp;#39;re custom made you your name on the back Jordan Ones which is like most legendary shoe ever so yeah kind of fun kind of fun and we can customize them to you so I think this year we have 51 1 million dollar Award winners in the audience right now with us clap it up for that which is pretty cool we have 39 10 million dollar workers you can keep you climbing up for that as well I guess we do at the end but and we also have 1200 million dollar Award winner sitting in this room right now which is pretty cool okay um that we know of no uh yeah and that we know of so we actually we we kind of this is a new award we launch stuff on emails and stuff if you&amp;#39;re in the audience right now we did we weren&amp;#39;t going to do this we decided to do it we had a couple people say they were winners if you&amp;#39;re in the audience we&amp;#39;re doing the award show tomorrow uh at the end of this session or whatever during breaks go to the back of the room and fill out the little thing you have to now you have to prove that you have this like think about we&amp;#39;re in the court of law and you needed to prove that you had a million dollars AUM in your fund um but we would love to have you on stage and what we&amp;#39;ll do is probably two weeks or three weeks now we&amp;#39;ll make you a custom pair of shoes and we&amp;#39;ll send it to you does that sound good so end of the session back to the room is where our team is at all in the back right that&amp;#39;s where you go does that sound good okay pretty cool um additionally that&amp;#39;s our Awards we uh this is kind of cool I don&amp;#39;t think we&amp;#39;ve shared this anybody come on you guys ready we&amp;#39;ve had a lot of our members struggling with um investor back-end portal listing their fun on the website or portal so like doing like a website building kyc AML checks uploading sending docs efficiently so we thought it&amp;#39;d be cool if we fixed all of that ooh drum roll please everybody okay this is the fund launch Marketplace okay we&amp;#39;ve just been we&amp;#39;ve been in beta test with our black crew members last few months we&amp;#39;ve had a few members on there so what the fun launch Marketplace is is this right here so you can see some screenshots these are actually live right now marketplace.funlunch.com you can come list your funds investors and come see it they can see the full offering docs they can see a video on your phone they can see the pitch deck uh PPM LPA they can actually invest through the portal it does Capital calls it does kyc AML all the stuff all in one kind of Hub now these are funds the funds listed right here are 506c so they can publicly advertise we also have 506bs they&amp;#39;re just hidden we have I don&amp;#39;t know how many we have a dozen or so hidden ones that you can just send directly to your investors essentially as your website or landing page you can collect emails build a list Etc is that kind of make sense really let me say yes okay you guys are there this is actually example I put my fund on there so I run a crypto fund albino core crypto fund which actually we&amp;#39;ve been killing it&amp;#39;s been so awesome we&amp;#39;ve done really well so you can come on here you can kind of see down we have a full video of us presenting the fund so an investor can come and just watch and see what we&amp;#39;re doing here&amp;#39;s our pitch deck all down here we have our team slide Etc we have all of our documents they can download our pitch deck they can look through our documents and you can make them if you want you can add verifications they have to verify their net worth before they get your stuff they can you can add whatever blockers you want so people don&amp;#39;t steal your your docs all right there here you can come and you can actually type in hey I want to invest a hundred thousand dollars you can type in it actually does the kyc and AML on the platform you can integrate with DocuSign to send the documents directly to your investor they sign the docs fill them out and they are subscribed in your funds pretty cool yeah isn&amp;#39;t that kind of awesome okay there&amp;#39;s the fun launch Marketplace so Again full website opt-in page kycaml DocuSign integration investor back-end portal and links also to your third party admin so if you have a third party administrator you can actually link and upload documents here back and forth so even if you have an existing fund you could use this to just do I mean marketing or advertising whatever you want to do on there kind of cool okay so when is this available um the big question right when does this come out Etc so this is available today for all of our Black Card members which is kind of cool so go black card is pretty awesome we&amp;#39;re going to continue to beta test this with our Black Card members and then the plan is it&amp;#39;s available to everyone over the next six to eight months we&amp;#39;re gonna start rolling this out what we&amp;#39;re gonna do is selectively pull funds and put them on the platform and go from there pretty cool it&amp;#39;s a clap it up for the fun launch Marketplace pretty awesome all right I know we had a lot of stuff you guys you guys still with us still like this okay additionally kind of show yeah additionally we have our whole value ladder here up on the screen and a few of those products are pretty new uh you probably stay up there the well group and the Blackberry Cowboy partners and so let&amp;#39;s talk about well grip for a second last year we had a lot of members who started to get really successful and they got the thing like the point of black cards get your fun launch you did 10 million dollars and so once they did that they&amp;#39;re like What&amp;#39;s the next step and we&amp;#39;re kind of sitting there thinking and the next step is probably to join a higher level group that is more about just leverage a few tricks here and there and like things that just make the needle move a lot faster you don&amp;#39;t really need like legal startup and all those things anymore and so we started launch well Group which is what this event is and we had our first one back in February we had everyone helicopter into this private cabin in Utah we had a private chef and uh for three days we kind of just had a blast so that was the first event in Salt Lake City um and we actually have a video for it too if you want to show it yeah and last night went to dinner with our whale group members as well so it&amp;#39;s a small group Titan you have to have a 10 million dollar fund to even apply to join so it&amp;#39;s all active fund management which is kind of cool um so yeah here&amp;#39;s a we&amp;#39;ll cue a video if you guys want to dim the lights and get the volume up foreign [Applause] [Music] foreign group everybody pretty fun so just everyone&amp;#39;s wearing a whale group it&amp;#39;s 75 000 a year to join 20 members we have about 14 that have joined so I think we have six spots open so during this event if you want to come talk to us at the back of the room about whale group Etc our next event is going to be on an Alaska fishing trip we&amp;#39;re going in July we&amp;#39;re River fishing Alaska which is pretty fun um that&amp;#39;s pretty cool those helicopters by the way one of them anyways no I&amp;#39;m we&amp;#39;re not doing helicopters again I don&amp;#39;t think it was really cool to have helicopters when the doors flew off and literally on the way home the Windstorm picked up and like the door rips part of the experience it was all planned uh we&amp;#39;re not doing like but it was cool to have helicopters we had two helicopters anyways yeah we&amp;#39;re not doing that okay last thing and then we&amp;#39;ll keep moving here um there is we believe a massive move towards tokenization of assets and funds We Believe happening right now um Wayne Gretzky talks about don&amp;#39;t skate where the puck is Skate where the puck is going so we believe where the puck is moving right now and again we don&amp;#39;t know when or how or how quickly regulatory bodies but we believe tokenization of assets and funds will be the next thing and so we&amp;#39;re actually working very hard on kind of getting ahead of that so just so you guys are aware what that means even last year you guys know the Denver Broncos sold to the Walmart family the Walden&amp;#39;s um there was another bid came from a dow a decentralized autonomous organization so similar to this what happened was just for an example let&amp;#39;s say 10 000 people put money in together I don&amp;#39;t know if they raised this is called like three billion they wouldn&amp;#39;t actually bid on the Denver Broncos had a competing bid now they didn&amp;#39;t go with them but imagine if they did choose that you&amp;#39;d have a fractionalized NFL team and if you were one of those 10 000 holders vote for me trading players you can yeah we want to trade the quarterback we all just do a vote and 50 say yes yeah that guy&amp;#39;s traded that&amp;#39;d be kind of cool as a fan isn&amp;#39;t that a cool idea and uh I mean I want a part of that that&amp;#39;s Mr unlimited right get him out of there um so that&amp;#39;s the idea of tokenization of assets Additionally you could sell your position so if you had one of those 10 000 spots you can sell it on the secondary Market you can bid it up or down so they&amp;#39;ve been something&amp;#39;s been happening with like real estate for example they fractionalized let&amp;#39;s say this building you fractionalize ownership into a hundred thousand pieces and any of us can come just buy a piece of it you also have Smart contracts that allow you to do distributions effectively so if this building produce rent you could just have a rental distribution it goes to anyone that holds that contract gets an instant distribution that&amp;#39;s the idea and we&amp;#39;ve kind of coined this phrase called smart funds so something that we call Smart funds that we are going after heavily right now we were we wanted to actually do a full demo for you guys on stage we are our Dev team is so close to get us all ready for you guys to launch with sbbs with funds Etc which is pretty cool so smart funds is coming out very soon what it&amp;#39;ll allow you to do to have fractionalized ownership secondary markets to sell positions the whole fund is ran through smart contracts and then distributions payouts are all run through what we call Smart funds that kind of now we&amp;#39;re still waiting for SEC updates and IRS they&amp;#39;re continually updating this industry so we&amp;#39;ll continue to work with them that&amp;#39;s why again we&amp;#39;re skating to where the puck is going they&amp;#39;ve been a little anyways wishy-washy or blind not blind but slow to get to this asset class but we&amp;#39;ll see where we&amp;#39;re going to be at and the fun world&amp;#39;s pretty traditional pretty old-fashioned so we hope to be the ones on the Forefront of the next era of that and so that&amp;#39;s kind of the vision and we have the whole Community to do it with so pretty fun yeah we got this whole group which is kind of fun okay so give it up for smart funds pretty cool okay that&amp;#39;ll be coming out in the near future we&amp;#39;re working on like crazy right now um okay kind of fun that&amp;#39;s the state of fun launch yeah we&amp;#39;re doing okay yeah and then we&amp;#39;re just getting bigger and better every single year um which is pretty cool to see everybody so with that thank you guys you guys can give a huge round of applause to Mason brains everybody [Applause] awesome thank you Mason [Applause] all right now let&amp;#39;s talk about funds yeah ready to get into it um I&amp;#39;m gonna talk fast I&amp;#39;m gonna go quick so take some notes we&amp;#39;re gonna fly through to sound good um you guys with me say yes actually if you can stand up for me just stretch out for a second I know we&amp;#39;re gonna be here for a sec stretched out if you can&amp;#39;t high five the person next to him say what&amp;#39;s up say you&amp;#39;re awesome I love it all right all right thank you very much take your seats take your seats let&amp;#39;s dive in here we go again fam reunion I love it I see people like hug and say what&amp;#39;s up okay so real quick just back right on me I know some of you guys don&amp;#39;t know who I am my name is Bridger Pennington this is actually a picture of my dad and my brother right here they&amp;#39;re sitting both front no roots are amazing will tell their whole story in a little bit um my my brother is an investment funds attorney to sermons aware so worked at the largest law firm in the world has done multiple huge deals on funds multi-billionaire funds my dad co-founded a Deca billion dollar family of funds you guys will hear from him tonight we&amp;#39;ve got a pretty interesting family Dynamic and none of us went to Ivy League schools announcement to Harvard Etc not just worked on Wall Street and really how this whole group came about was you know we kept talking like I think more people would want to learn about this we had people coming and asking my dad or my brother like how&amp;#39;d you guys do funds how did you launch them and I&amp;#39;ll tell the story in just a minute but it&amp;#39;s pretty cool and we have some fun family dinner conversations and you know every time we get together we&amp;#39;re talking funds and finance and all this kind of stuff that you guys are here so we wanted essentially this event is built around a lot of people said well Bridget you&amp;#39;re so lucky you had an amazing dad and brother and Etc you know I wish I had that and guess what now you do because we have this event you&amp;#39;re here like this is what we&amp;#39;re doing is give you an extension of that does that kind of make sense okay so which is pretty fun now and we&amp;#39;re gonna dive into this I my goal for the next three days to convince you this a fund is the best way for you to scale your business or Investments all right the goal for the next three days is I&amp;#39;m going to show you how to build an investment fund without number one a track record two working on Wall Street three a fancy degree and why you should launch a thunder skin syndication to scale your business or Investments talk about that that first piece of Leverage right Capital how to do that through me say yes does that sound good for the next couple days also I want you to feel totally confident in the next 12 months that you can come up here and win on stage a pair of shoes running a 10 million dollar fund I want you to feel confident that you can do that and be up here next year and set that goal in your brain like I&amp;#39;m gonna be there and it&amp;#39;s cool for people a bunch of you from last year like dude I did it the last 12 months we&amp;#39;re here and they&amp;#39;re gonna be up on stage tomorrow getting their Awards okay I want you to be there now a fund is the best way for you to scale your business Festival so dive into funds we&amp;#39;re gonna start very basic and we&amp;#39;re gonna go Advance pretty quickly does that sound good okay I know a lot of you guys have probably heard this but we&amp;#39;re gonna go I promise we&amp;#39;ve got some some new stuff for you all sound good so what is a fun for people brand new actually first off who&amp;#39;s this is your first time to fun launch live I know Devon did I just I want to see it just for me oh awesome cement a lot of people okay this is great so we&amp;#39;re gonna you guys yeah welcome in it&amp;#39;s gonna be awesome so what is the fun we&amp;#39;re gonna talk way basic fun launch live fund launch like what even is a fun what are we even talking about all a fund is is a pool of money investors put money into that pool people like me and you can draw from that pool we can go make investments we go buy assets we&amp;#39;ll share a few examples in a minute whenever those assets make money they flow back to the pool and get split between ourselves and the investors that&amp;#39;s it okay it&amp;#39;s not that crazy think about like back in the day like a blacksmith shop like in the middle age hey we&amp;#39;re gonna open up a blacksmith shop I want to get some money put some money in whenever the blacksmith shop makes money we&amp;#39;ll just split the returns that&amp;#39;s all really a fund is the most basic sentence that kind of makes sense it&amp;#39;s not that crazy so if you&amp;#39;ve ever heard of private Equity hedge funds real estate funds debt funds credit for their all funds we actually helped a lot of people launch these types of funds in our community um so what&amp;#39;s the difference then between all of these so I&amp;#39;ll start with the middle one real estate funds what&amp;#39;s in the name a real estate fund is a pool of money and they go and buy real estate when the real estate makes money it flows back to the pool and then we split that with ourselves and our investors it&amp;#39;s not that crazy right private Equity Fund a private Equity Fund is a pool of money instead of buying real estate they buy privately held businesses so they buy a bunch of coffee shops in a region they go buy a bunch of actually share a few examples a bunch of retailers in a certain region they&amp;#39;ve grouped them together group businesses together and then they whenever those businesses make money they split the returns that&amp;#39;s privately held businesses hedge funds those ones are doing public businesses typically public security stocks bonds options Forex those are publicly held Securities okay that&amp;#39;s all the fund is it&amp;#39;s not that crazy whenever you hear on the news like this hedge fund manager private equity and a lot of us Finance I hate the world of Finance because they make these terms so confusing for people to understand it&amp;#39;s really not that complex they&amp;#39;re all structured almost exactly the same we launched 130 funds last year in all these different categories is that making sense if you&amp;#39;re with me say yes so um a few examples so The Big Short anybody seen this movie awesome movie really fun uh all these fun managers the reason they could short the housing market in 2006 2007 is because they had a fund behind them you ever wonder like man I wish if I could go back in time I would have shorted the housing market well the reason they were able to do that is because they had a massive fund behind them does that kind of make sense um the reason people can take advantage and we&amp;#39;re talking about economic right now we&amp;#39;re in an economic interesting Economic Times we have a bunch of speakers talking about that the reason they can take advantage of those things is because they have a fund okay a great example of um of this a private Equity Firm anybody knows Sycamore partners okay Sigmar Partners well I&amp;#39;ve you know I usually ask this like nobody raise their hand I&amp;#39;m like have you heard of any of these brands did you know they&amp;#39;re all owned by the same private Equity Fund kind of crazy all those brands are owned by the same group Sycamore Partners on Wall Street manage about 11 I think 11 12 billion dollars that&amp;#39;s the world of private equity uh Blackstone private Equity 131 billion they own all of these Brands kind of crazy like a lot of people don&amp;#39;t know these these companies they&amp;#39;re owned by the same individuals uh actually I was looking at Blackstone as well I went on their website um so they manage uh right here 577 billion total AUM just just phenomenal amount of AUM I just can&amp;#39;t I was just trying to put into perspective of how much they control and own and I was looking on their website and they had this picture there and I was like huh like do they own like what do they own like what are they like they own one of those buildings or the one on the corner like what do they own no they own the whole thing that in downtown Manhattan they own 11 000 units 56 buildings in Manhattan and I was like oh they own that they had to rent a helicopter to just get a picture of their asset this is the world of funds you need to understand this game I mean it&amp;#39;s the biggest game on earth right here uh Blackstone as well did you know they own MGM Grand I know they just asked this but as a few months ago they owned MGM Grand you guys know that oh and they also owned uh Mandalay Bay oh and did you know they also own the Cosmopolitan so you&amp;#39;re thinking you&amp;#39;re hey I&amp;#39;m gonna I&amp;#39;ll never gamble at the MGM I&amp;#39;m going to the cosmo you&amp;#39;re going to the same people it&amp;#39;s the same people that own all of them okay they&amp;#39;re like okay go to the cosmo we&amp;#39;d love for you to go to the cosmo okay they own all of them this is the world of funds okay these are uh lists right here I&amp;#39;ve done this before for groups but these are all hedge fund managers right here and there&amp;#39;s some huge numbers next to their name you have 4.1 billion 3.2 billion now let&amp;#39;s talk about net worths for a second a net worth like Elon musk&amp;#39;s net worth I think this year has dropped like crazy it goes up it goes down because his net worth is based on how many shares of Tesla he owns for example if if their stock price goes up his net worth goes up it goes down Etc does that make sense that&amp;#39;s how a net worth Works typically in the report it these are not net worths on the screen okay this is their 2022 earnings alone just from one income source this is not personal Investments this is not their other portfolio this is their hedge fund produced Ken Griffin 4.1 billion dollars last year pretty wild to put into perspective um here&amp;#39;s a question actually I&amp;#39;m curious somebody who has the answer you might if if I gave out or you gave out 76 000 a day every day wouldn&amp;#39;t that be kind of fun 76 000 a day every day to somebody you find someone new on the street you give them 76 000 how many days or months or years would it take you to hit a billion one billion anybody know shout it out a year okay shout out again who else four years seventy six thousand dollars a day how long till you hit a billion 31 years 31 years it&amp;#39;s about 31 and a half you&amp;#39;d hit a billion dollars people when people talk about a billion my dad this last year if you talk about a billion a billion&amp;#39;s a lot of money imagine if you&amp;#39;re anybody 31 years old in here right here a couple people 31 years old you gave away 76 000 every day your entire life till this point that would only be a billion dollars and Griffin made 4.1 billion last year from one income source talk about another world of wealth right when I talk about a fund you need to launch a fund you need to understand this game of funds it&amp;#39;s the biggest baddest game in the world that&amp;#39;s why we&amp;#39;re here yeah isn&amp;#39;t that kind of cool who&amp;#39;s doing they say yes all right um I&amp;#39;m sick of Wall Street Elites controlling everything we need more of us that&amp;#39;s why we do this we need more of us cracking into this industry I&amp;#39;m sick of this only being reserved for the Ken Griffin and by the way Ken Griffin&amp;#39;s lost nothing but wrong about Ken Griffin but the Ken Griffins of the world just controlling everything People Like Us need to understand this game there&amp;#39;s a reason we call ourselves the Wall Street Rebels Wall Street Rebels people oh there&amp;#39;s a reason we call ourselves the Wall Street Rebels because we need to understand this game and guess what the game they play it&amp;#39;s just the game of funds those people that almost all they did guess what 20 years ago 30 years ago and we&amp;#39;re going to share all actually all their stories I&amp;#39;ve studied all their stories Etc they just started to fund and they got it bigger and they got a little bit bigger and just got bigger and they they use this vehicle of funds to do incredible things that kind of making sense that&amp;#39;s why I believe everyone in this room should be considering launching a fund if not syndication like right now especially we&amp;#39;re talking about 2023 and timing Etc especially right now last year the message was like I want to start a fund this year it&amp;#39;s like I need to start a fund we&amp;#39;ll talk about more tomorrow but it&amp;#39;s an incredible time to be in this game yeah through with me say yes okay we&amp;#39;re the Wall Street Rebels that&amp;#39;s what we put on our shirts our brand Etc we need more of us to take over and decentralize this industry essentially is what I believe okay now who this works for this works for people trading for people in crypto Forex Futures actually where are you at where&amp;#39;s my Traders who&amp;#39;s a Trader in here raise the hands let me come actually I want to see my I want to see some people keep your hands raised Traders where you guys at Make Some Noise Traders hey there they are good to see all my Traders and we got Jay the trader right here okay I love it uh where&amp;#39;s my real estate people make some noise hey a lot of real estate people there you go a little bit happier than the hedge fund people it&amp;#39;s been a tough it&amp;#39;s been a tough year in the public markets um buying a smugging small businesses and my private Equity business Make Some Noise okay awesome I love it I love it um what&amp;#39;s our next one here investing you&amp;#39;ll start a VC startup seed Capital Make some noise okay there you guys are as well sorry I gotta keep looking I got it okay who&amp;#39;s uh like can I have a late stage private Equity scale existing businesses raise a hand anybody make some noise okay there they are and then finally issuing loans where&amp;#39;s my debt people who&amp;#39;s doing debt Make Some Noise deaf people there they are I love it and then just undecided who&amp;#39;s here to just learn raise him yeah Make Some Noise we&amp;#39;re just coming hey that&amp;#39;s awesome I&amp;#39;m all about that I love people if you have no clue about this industry this is the perfect spot to be come here where and that&amp;#39;s why we&amp;#39;re starting simple base we&amp;#39;ll go Advanced we&amp;#39;ll go the whole time sound good yeah I love it um now a lot of us make excuses not to start a fun I know in your brain my brain oh it&amp;#39;s I&amp;#39;m too busy I don&amp;#39;t have the right financials I don&amp;#39;t have the right pedigree I don&amp;#39;t have the right x y z a lot of us have this kind of stuff yeah now last year I mentioned there is one person that has shattered All Glass ceilings for me you guys remember who it was from last year anybody remember shout it out you remember they shattered all this this one is a guy he shattered all expectations for me in the world the glass ceiling that if he could do it I could do it P Davidson this guy is amazing the fact that he can date Kim Kardashian means we can do anything okay all right Steph say I can do anything if this and I gotta I found a topless picture of T Davis and just so you could just see how sexy he is of a dude if he can date Kim gate we can do anything now this year though I found someone new I found someone new that&amp;#39;s really broken through glass things for me you guys want to know who it is there&amp;#39;s someone doing I&amp;#39;m like if he can do it I can do it I love doing that he can do it I can do it the fact that Joe Biden is president right now [Music] ah the fact that he&amp;#39;s I mean nothing I mean she has dementia I don&amp;#39;t know right now there&amp;#39;s about 30 of this room that&amp;#39;s like that&amp;#39;s a terrible that was bad so to help the other 30 the fact that this guy was president means we can do anything in this world okay clap it up for that you can do anything okay the fact that these two gentlemen our last two presidents means me and you can the sky is the limit okay and the crazier fact is they are both the Front Runners for the next election which I can&amp;#39;t even if anybody&amp;#39;s a political person here please I just let&amp;#39;s shake it up just shake it up that&amp;#39;s all I can ask for I shake it up I&amp;#39;ll vote for both parties I don&amp;#39;t care I&amp;#39;m not either way just let&amp;#39;s just shake it up sound good okay so but if they can do it we can do this all right now again a fun is the best way for you to scale your business or Investments all right now I want to go deep I&amp;#39;m gonna if you guys want to get your pets I&amp;#39;m gonna go fast through some examples I wanna share a bunch of examples give you ideas of different types of funds people are doing so where&amp;#39;s my real estate people again there they are I love it I&amp;#39;m going to share an example of how one of our actually people in our group went from flipping any house flippers in here that do I&amp;#39;m sure a lot of you guys have flipped a house or changed houses he flipped three to four houses a year next year flips 70 houses I want to share exactly his example sound good this is what he did I&amp;#39;m going to summarize you house slippers I&amp;#39;m gonna summarize your entire job in about 30 seconds okay here we go you guys find a house looks awesome let&amp;#39;s fix it up we then go and we got to get money for it so we go we get hard money investor money bank money or your own money we get that money together we put it into an LLC we have a little operating agreement throw the money in we then go flip the house we renovate it do all the stuff we then make a little bit of money yeah we&amp;#39;re making some money okay feeling good on the way to the bank and then we start over we find a new house how did I do household is that pretty good yeah it&amp;#39;s your whole job in 30 seconds that&amp;#39;s a good job you make actually good money there&amp;#39;s good money in householding so this is what I like to call the syndication Loop and by the way syndications are awesome some people keep asking me like Bridger are you like anti-syndication no syndications are amazing they&amp;#39;re great to build your track record it&amp;#39;s a great way to get some deals under your belt get going but this guy we this gentleman we talked to Brent he was like Hey I want to do the next thing I want to do more it&amp;#39;s it&amp;#39;s hard to get a conscious we said Hey what if we set up a fund so instead of every single deal you&amp;#39;re raising me money trying to go to the courthouse to call on people Friday afternoon wire your money in ETC you set up a funds you raise the money once you set up the legal documents once and you can go flip as many houses as you want over and over and over again that&amp;#39;s what he did so he set up the fund once money once and then ta-da he went and flipped 70 how 70 plus houses in one year and also he had economies of scale so think about this do you think you&amp;#39;d win more deals or less deals if you had a fund ready to go versus like syndicating trying to get money on the phone more deals your last deals more right you think you&amp;#39;d get better financing or Worse financing from banks with a fund better or worse probably better right because you have a relationship you&amp;#39;re doing more deals you have more Capital you probably get better interest rates so all of a sudden ta-da he Now can do more deals cheaper and he has economies of scale he can hire multiple Crews that go from house to house and he has economies of scale which makes all costs go down pretty cool right however is that kind of making sense that example love it for me say yes okay how this works with businesses it&amp;#39;s actually a true example this guy calls me he has a gun store that does 10 million dollars a year roughly okay selling guns he&amp;#39;s trying he&amp;#39;s like Richard I want to scale so what&amp;#39;s my options and typically us we think the options to scale a business are we call up like Kevin O&amp;#39;Leary types hey I&amp;#39;ll give up 20 of my business put money in then we&amp;#39;ll go scale and or I&amp;#39;ll get some debt so I&amp;#39;m gonna go to the bank I&amp;#39;ll get like an uh SBA loan or a debt loan Etc and that&amp;#39;s how we&amp;#39;re gonna do we have a bunch of debt on the business it&amp;#39;s typical people think of and I said hey there might be a third option you want to hear what it is it&amp;#39;s called a fund this is what we&amp;#39;re setting up for him actually right now so he&amp;#39;s a gun store you set up an outside fund see how they separated though so outside fund you raise outside capital for this fund that fund comes in and buys the competitor stores because he wants to go and buy up all of his competitors in a certain region so you use that fund you go buy your competitor stores and then hey guess what you&amp;#39;re pretty good at running gun stores right let&amp;#39;s contract you out let&amp;#39;s pay you a five percent corporate fee to come run up the gun stores for us and you can put your branding your logos Etc that&amp;#39;s what the fund will pay to have you do all this so ta-da the fun goes and buys let&amp;#39;s call it six or seven competitor stores they contract his existing store they pay maybe a five percent corporate fee to do that he now can put his branding and logos on all the competitor stores and essentially controls them and now he has a monopoly in a whole region of stores kind of interesting right now when those stores make money the money he pays a five percent corporate feedback to his existing business it goes back to the fund basically let&amp;#39;s just call it 80 20 on the returns and he actually he&amp;#39;s also an owner on the fund so he makes a 20 split there he also gets the five percent fee there is that kind of making sense he has fallen along pretty interesting right um this you can do this with businesses which is kind of funny if you&amp;#39;re with me say yes okay chiropractor shops we have a couple people and that we&amp;#39;ve actually met that are doing this they uh they found they can Group chiropractor shops together and sell them for a multiple it&amp;#39;s called a roll-up if you&amp;#39;ve heard of dental Roll-Ups where they&amp;#39;re buying Dental practices together this is kind of a similar thing so for example this person has a has a fund they go buy let&amp;#39;s call it eight Chiropractic stores they put them together they then package them they get um all their overhead down they get their marketing expense down because they have again economies of scale we&amp;#39;ll talk about in a minute ta-da they can let&amp;#39;s say they buy them for eight million dollars a million dollars for a piece they can turn around and sell them it takes about 12 18 months they sell them for 12 million dollars pretty good four million dollar game they split it let&amp;#39;s just say 80 20 3.2 million to investors 80 000 net take home to him not bad who would like to make 800 000 doing that am I the only one yeah okay that sounds pretty I&amp;#39;m like yeah that doesn&amp;#39;t sound that crazy buy eight stores group them together sell them in a year to you know make that much money it&amp;#39;s pretty cool another example I&amp;#39;m gonna go quick through these um this is like imagine a small Diner you know this is actually Marshalls and beaver I love Beaver anybody been to Beaver Utah Make some noise for Beaver Utah it is like the pit stop between I live in Salt Lake City between Salt Lake City and Vegas you always stop in Beaver because it&amp;#39;s just located perfectly for your gas tank so everyone it&amp;#39;s only it&amp;#39;s like made for just gas stations the whole town but there&amp;#39;s this there&amp;#39;s this little spot called Marshall&amp;#39;s got amazing stuff um I actually have a friend that comes in and buys me so what you would do is you find a that you know that local Town they&amp;#39;ve got the best pies and there&amp;#39;s only one location right so you come in you say hey why don&amp;#39;t we scale you so you come in with a fund come buy up Marshalls and then say hey we&amp;#39;re not we&amp;#39;re not going to be one location we&amp;#39;re gonna turn you into 10 20 30 50 locations Etc again we&amp;#39;ll just split the returns with you as the owners and we&amp;#39;ll go from there does that kind of making sense there&amp;#39;s actually a group in Utah called Mercado Partners Andrew Smith he&amp;#39;s been on somewhere you guys seen us we did a whole episode together um they do this anybody heard of mobetas anybody eating mobetas before awesome restaurant in the west United States they found mobetas when it was like two locations and now I think I don&amp;#39;t know let&amp;#39;s just call them 100 plus locations they found Swig when they were a small location they have a bunch of Brands they essentially go to small towns find the best food in that little small town or that location they take them and they blow them up like crazy they&amp;#39;re about a 400 million dollar fund right now that does this private equity kind of cool pretty interesting model right um now Bridger how else does this work how is this work in e-commerce is this okay by the way you guys like these examples that&amp;#39;s okay keep going I think it&amp;#39;s cool to just share different examples of how this works in real life and I hope you guys can take notes and like think through like this could work for me how this works in e-commerce this is actually a group in our in Black Card um 200 they raised 250 000 dollars they went out I&amp;#39;m gonna use rough numbers here but let&amp;#39;s just say roughly 250. they go and buy five Amazon stores for fifty thousand dollars a piece okay fifty thousand fifty thousand fifty thousand all the way across the board they group them together they are good at scaling Amazon businesses so they they group them together Etc in a year those five stores and you net free cash flow see my clicker here 350 000 net free cash flow so what they do is they actually take the money and return it all back to their investors plus a 40 return in one year so investors love it but they don&amp;#39;t sell the assets they still own all five of those stores which is about a 3.5 million dollar Enterprise Value that they now free and clear own because they purchase them a lot of us think we gotta like I gotta be the next Mark Zuckerberg I think of this business I gotta start I gotta scale it when in reality a lot of us can go buy existing businesses and even boring businesses vending machines laundromats Amazon stores and make a really good amount of money doing that does that kind of make sense if you&amp;#39;re with me say yes okay now you might be asking like how they get in the store so cheap typically these people that run Amazon stores they find they&amp;#39;ll find someone who&amp;#39;s 23 years old and just starting out hey you want 50 grand for your store dude 50 Grand is yeah I want 50 Grand that sounds amazing I&amp;#39;ll take the store and they you know they oh yeah I exited my business for 50 Grand they can scoop up some really cheap e-commerce assets because that Market&amp;#39;s not very efficient there&amp;#39;s not a ton of big players there so they found that they can come in and find these really good deals that kind of makes sense pretty cool okay now how this works in stocks my my hedge fund people how does this work in your space typically um we can talk about hedge funding Community I can start a small fund but typically you know you&amp;#39;re trading your own money let&amp;#39;s call it or maybe friends and family they&amp;#39;re sending like venmos or wires all it allows you to do a fund allows you just do more money yeah so if you&amp;#39;re trading a million dollars you&amp;#39;ve now trade 10 million or 20 million you can do bigger contracts Etc get better deals yeah sound good all right make a little noise for that pretty cool kind of awesome right make a little noise all right let&amp;#39;s go a little bit deeper onto fun structure hope this is okay I just wanna I wanna set a bunch of groundwork a bunch of Frameworks Etc so let&amp;#39;s talk about funds the next structure I&amp;#39;m going to show you is how 99 of the world&amp;#39;s private money is raised okay I want to show you the actual structure of how these funds are built so we talked about what is a fund uh we have ourselves our investors our assets they just have different names in the fund World okay so these names are instead of a pool of money it&amp;#39;s called a limited partnership so a limited partnership this is again 99 I know there&amp;#39;s different nuances but this is how 99 of all funds in the world are structured it&amp;#39;s a limited partnership which is your pool of money you have a general partner which is like me and you that&amp;#39;s the fund managers and we also sometimes have a management company This Is Us on the left here is us we manage the limited partnership just here that goes and makes Investments all right and we have investors that put money into limited partnership they&amp;#39;re not called investors though they&amp;#39;re called limited partners okay so limited partners put money or Capital into a limited partnership which is managed by a general partner and a management company does that sound good that makes sense so far now this is all governed by what we call the Bible this is your this is called an LPA and PPM agreement they are thick John writes he&amp;#39;s my brother they are massive they&amp;#39;re like a hundred pages each they&amp;#39;re a huge we call them the Bible the reason they&amp;#39;re called the Bible is they control all the laws covenants bylaws of your funds okay so if now the cool thing about funds is you get to write the Bible one of the biggest questions I get is Bridger can my fun do this or can my fun do that well typically the answer is yes it just needs to be written in your Bible okay so if it&amp;#39;s in your Bible then you can go and do if that kind of makes sense hey if you&amp;#39;re with me say yes so if you you&amp;#39;re here on like people talk about all my LPS are putting money in that what they mean is your limited partners my LPS that&amp;#39;s their investors my LPS are throwing money into my GP and my LP my LPS are throwing money and that&amp;#39;s what they mean they&amp;#39;re talking about this General partner limited partnership structure once you learn this you&amp;#39;ll start hearing on the news just hear on podcasts Etc you start hearing this around the space that sounds does that sound good now Bridger how did you learn all this yeah it&amp;#39;s cool if I tell a little story here real quick so this is actually my dad&amp;#39;s gonna speak later today but I actually grew up in this house right here this is a picture of the house I grew up and we and we moved like a mile away my dad drove this car as a 1999 Ford Expedition and my dad was just an entrepreneur really um started a bunch of it he&amp;#39;ll tell you later today so I don&amp;#39;t want to ruin his Thunder but started a bunch of cool businesses and stuff but it was up and down Etc and um I was very ambitious I got into college and I was like I want to be an entrepreneur I want to like do business because that&amp;#39;s where people make money so I was super ambitious I got into college I started six different businesses my I&amp;#39;m gonna come down here look at you guys for a sec six different businesses my first years of college so I started a landscaping company a Chinese Tutoring company I started a real estate I might ran real estate but I wholesale with actually two houses in college I made five grand a piece was pretty cool assignment fees Etc the whole thing um we did a Forex Trading business I did online marketing with Mason and we did essential oils the essential oil people in here we were selling them online Doterra did all I mean any business on YouTube what&amp;#39;s up uh any business on YouTube we tried it okay and finally my dad looks at me like this he&amp;#39;s like Bridger I love your effort I love your drive but you&amp;#39;re kind of like a chicken with your head cut off a little bit and uh he goes I uh I think we can help you out a little bit because I want you to go meet with my business partners this guy can can really help you out I said okay I&amp;#39;ll go meet with whoever right like cool I&amp;#39;m just a young hustling entrepreneur I&amp;#39;ll go meet with whoever is out there so we set this meeting and um we go out and um I meet with this guy so I go up it&amp;#39;s my dad&amp;#39;s business partner I drive to his house and I pull up to this gorgeous beautiful mansion I&amp;#39;m like man who&amp;#39;s my dad&amp;#39;s business partner this guy&amp;#39;s pretty pretty intense and I walk and I go knock on this big door and he comes the door and uh he um sorry the camera guys are all freaking out at me because I&amp;#39;m walking through here um they&amp;#39;re all getting mad at me there you go um I go knock on this big door and he comes the door and thankfully I was worried like a butler was going to come and like be gone peasant get out of here this massive house and he comes and he goes Bridger coming and I walk in this gorgeous Mansion it&amp;#39;s got white couches in the ceiling and The Wine Cellar in the basketball court in the basement and pool and just everything cars in the garage and I was super I was like Wow who is my this guy&amp;#39;s pretty legit and so we sit down we start to chat and finally I asked him how did you get all of this how did you do this and he goes Bridger uh what&amp;#39;s funny enough a lot of people don&amp;#39;t ask me that question and I was like oh shoot that&amp;#39;s the only question I had like like uh sorry I don&amp;#39;t have any other questions I had one question it was how do you do this and he said uh no Bridget you&amp;#39;re fine but um he goes It&amp;#39;s funny not enough you asked that question because I&amp;#39;ll tell you he goes when I was in my 20s I was a lot like you I started a bunch of business I had kind of some success but then he goes then I figured out the secrets of the wealthy he goes the wealthy families of the world they get their kids in the car sometimes they cheat we&amp;#39;ve seen that right they get they cheat to get their kids into college but they go get into college they want their kids to work in Wall Street and use their way up and they want them to work in the fun space private Equity hedge funds Venture Capital real estate funds or come back home and run the family office and I was like Wow and he goes That&amp;#39;s so he goes I met the guy that ran a private Equity Fund is one of the wealthiest people I&amp;#39;d ever met and he goes I decided I was gonna be that I was gonna start a fund and so he goes that&amp;#39;s what we did we started a real estate fund and at the time he goes we&amp;#39;re managing I&amp;#39;ll come back here to the stage you guys and see me because we&amp;#39;re managing eight billion dollars of real estate at the time just I was like wow that&amp;#39;s a lot to put that in perspective you guys know Grant Cardone anybody know Grant Cardone Cardinal Capital actually Ryan Seck was going to be speaking just a little bit which is pretty cool he&amp;#39;s coming from Carter Capital it&amp;#39;s awesome um Cardinal Capital today I think is about 4 billion so the time they were two times bigger than Cardone Capital which is pretty impressive that was years ago I think today they&amp;#39;re over 10 times bigger than Cardinal Capital over 40 billion so 10x Uncle G what&amp;#39;s up Uncle G um this is pretty crazy okay uh and I love Grant and all this stuff but it&amp;#39;s just wild how big and they&amp;#39;re doing real estate funds and I was just totally enthralled and I said hey can you be my mentor I want you to coach me can you Mentor me Etc and he goes Bridger go talk to your dad your dad knows way more about this than I do I said no no my dad&amp;#39;s he drives a crappy car we live in a small house I want to learn from you like you know he goes Bridger sorry to break it to you but me and your dad make about the same amount of money and my chin dropped to the floor I was like huh come again and uh I left the dude&amp;#39;s house I went straight to my dad since my dad&amp;#39;s right here I was like Dad what the heck like why haven&amp;#39;t I been able to order a soda at Chipotle for the past 10 years because it&amp;#39;s too expensive like what is this what&amp;#39;s going on and uh it wasn&amp;#39;t that dramatic but I like to make it dramatic um because perjury no yeah he goes we&amp;#39;re doing pretty well he goes I like to save and invest my money my partner kind of likes to spend his money but yeah we we run these big funds and long story short I every Sunday night I go to my dad&amp;#39;s house we&amp;#39;d sit down and we&amp;#39;d go on the Whiteboard he&amp;#39;d teach me about funds beyond that we talked about limited Partnerships General Partners how to launch of fun Etc and I finally got a point where I wanted to launch a fund and so I was like I&amp;#39;m gonna do this and it&amp;#39;s funny a funny thing in life when you start to learn about something you start to recognize that thing in your life you know what I mean you ever done that everybody bought a new car before all of a sudden you start seeing that car driving around everywhere right so I thought man I&amp;#39;m gonna do a fund and I want to do that so I was in college I was working an internship at the time and a job and in college and I was at the job I was working at I saw an opportunity where we could start a fund for that company they actually needed um financing for some of their clients so debt fun of like hey we could Finance them we could do a little debt like a little Loan program etc for them would that work and the owners of the business loved it I went to my dad we sat down we mapped the whole thing out I was like could this work you know and so um we put us all together we&amp;#39;re so excited we&amp;#39;ve got our little fun framed out here&amp;#39;s Michael Scott we were really excited to meet my dad framing everything out this is gonna work you know and um I hit this wall it&amp;#39;s like crap now I gotta raise money like shoot but then I thought aha my dad Super Rich apparently I&amp;#39;ll just go pitch my dad would be awesome right and so I was like easy easy money let&amp;#39;s go so I went I went and talked to my dad and uh sat down with him and went to my this little him into his office I remember Sunday night and I said Dad how would you like to be our first investor into our fund had my own pitch and everything he&amp;#39;d actually helped me a ton he&amp;#39;d help me a lot of my fun it was awesome it was great mentor great coach I said Dad how do you wanna you wanna be our first investor in this fund and my dad said your first investor is your hardest investor to find if I invest in your fund it would ruin the experience of you raising money on your own this will be a crutch that you&amp;#39;ll never be able to recover from he said no I&amp;#39;m not gonna put money in and it was a big tough love moment for me I was like okay he said you got to go learn how to raise money on your own and do this on your own so I left his little home office with my tail between my legs a little bit and walked out and and I said you know I&amp;#39;m going to do this and uh we went out I hit the streets I talked to everybody I knew former bosses College professors friends from high school I mean like everybody and after weeks of pitching we raised a whopping 49 700 from like six different investors which by the way was a lot for me it&amp;#39;s I know it&amp;#39;s not a lot for you guys but it was a lot for me the times you clapped that up that was pretty good we thought it was pretty good and good enough it was actually enough to get started that was like enough we needed we were doing these small micro loans they were like two to three thousand dollars alone short term they were like a month our first group of investors we got them a 64 return of their money okay so good return small amount of money though but good return percentage right um and they were super happy we then launched our second fund we raised and deployed millions of dollars without second funds we ran that for I think three and a half years and then a year and a half ago I actually had a competitor come in and buy our whole fund we exited our entire fund which is awesome and by the way in just a minute we have Eddie Wilson coming out he&amp;#39;s going to talk about buying and selling funds he&amp;#39;s bought and sold hundreds of millions of dollars in funds which can be I&amp;#39;m just so excited to hear him speak um we we did that which is pretty cool then since then we launched our um third phone which is ugly unicorn um which we&amp;#39;ve done very well we&amp;#39;ve and then that second one we did 200 200 plus deals in there deployed millions of dollars it&amp;#39;s pretty awesome and today actually this is our performance from ugly unicorn as of our last reporting day which is pretty cool net rate of return of 14.71 and then year to date 39.61 percent on our other unicorn keep clap it up for that it&amp;#39;s been pretty cool um we managed about 13 million in that fun we just started we&amp;#39;re growing like crazy it&amp;#39;s really fun so it&amp;#39;s been a blast to be in the space um and we&amp;#39;ll talk about that in just a few minutes so but I&amp;#39;ve been able to spend amazing time with my family I&amp;#39;ve Loved this game and being in business and by the way update on me a few things um I actually went yeah I don&amp;#39;t know if you guys saw a post I actually went and rang the NASDAQ Bell or a few weeks ago which is pretty cool so I got invited it wasn&amp;#39;t my company just disclaimer it was another group that just invited me out to be a guest there but it&amp;#39;s pretty cool this is us at the NASDAQ and New York Stock Exchange okay which is kind of cool um this is the only picture that I got back from the ringing of the bell and if you zoom in that&amp;#39;s me my mouth is open why do you I give if you blink I understand that but who when you&amp;#39;re taking a picture goes like this but that&amp;#39;s the picture I have so there you go that&amp;#39;s my picture at the NASDAQ which is pretty cool in New York Etc this is my beautiful wife and and and Son Joni&amp;#39;s now 18 months old we might have him come out tomorrow and so you guys can say hi to Jonah she&amp;#39;s amazing um this is our beautiful family Etc and then we&amp;#39;ve been able to donate to church we love we&amp;#39;ve had this amazing amazing life we&amp;#39;ll be able to travel and have us all sorts of stuff because I learned this game of funds because I learned what we&amp;#39;re talking about here and we&amp;#39;re still on this journey I&amp;#39;m playing the long-term game I&amp;#39;m gonna play the 30 40-year game I don&amp;#39;t want to get rich quick I want to get rich in the long term and get really rich in the long term you&amp;#39;re with me give me an amen to that okay so um this next segment I want to dive into you guys still with me is everyone okay yes you got energy good okay I want to go quick through here but I want to talk about launching a fund and actually the process of doing it and again you guys came to funlash live just so you&amp;#39;re aware I go to a lot of conferences and events and they pump you up and they it&amp;#39;s which is cool but like give me some juice give me some meat you know what I mean give me something I can use so all the speakers actually have asked them to give you Golden Nugget sessions I want to dive into that does that sound good there&amp;#39;s gonna be some pumping up and stuff like that but we&amp;#39;ll we&amp;#39;ll dive in okay so we&amp;#39;re gonna dive in so if you&amp;#39;ve been struggling on this game and this process this is probably why um a lot of us are are well right here it&amp;#39;s not I just want to let you know it&amp;#39;s not your fault you haven&amp;#39;t had the right vehicle or maybe have the right vehicle but fun but you don&amp;#39;t have the right training to operate that vehicle okay so I&amp;#39;m gonna walk through the training of how to launch this so I want to talk about a new way a better way to launch funds we call this the fund launch formula okay it&amp;#39;s a framework we&amp;#39;ve built out to launching funds um we&amp;#39;ve helped I&amp;#39;ve had an incredible amount of amazing people sit down across me and I&amp;#39;ve been able to interview them my show 100 million billion dollar fund managers and what&amp;#39;s interesting I started to interview them on how they launched their funds and all of them had a very similar story they use the same process I was like huh this is interesting I interviewed another guy kind of two questions on this process it was the same process I was like it&amp;#39;s interesting so we finally coined the phrase let&amp;#39;s just call it the fun launch formula if you go Google how to launch a fund terrible advice it&amp;#39;s terrible advice and it&amp;#39;s from some blog writer that had to write a blog that for their quota on funds and they went and Googled some stuff and it&amp;#39;s completely terrible information so finally said we got to rewrite how to launch funds how entrepreneurs how Wall Street Rebels launch funds okay so this is a four-step process to launch a fund we&amp;#39;re gonna dive in yeah sound good if you&amp;#39;re with me say yes okay let&amp;#39;s dive in so what we used to have to do at a Blog Reddit will tell you is go hire a lawyer they&amp;#39;re like if you want to watch your fund go hire a lawyer pay 30 50 000 for a lawyer then go pitch investors then hopefully raise money and if no one likes to go back to the drawing board and start over and you&amp;#39;re out fifty thousand dollars and good luck a lot of funds most funds never launch by the way most funds never launch because they do this they spend 50 and then you&amp;#39;re already out 50 Grand on docks and you got to re-spend another figure and you&amp;#39;re like I don&amp;#39;t want to do this anymore and most funds never actually launch because they go this old dumb stupid way that blog writers put on on Instagram or whatever okay so this is the way we beat out the Harvard grads and people on Wall Street Etc now myself back to my dad I was like well Dad No One&amp;#39;s Gonna invest in me no one I&amp;#39;m I&amp;#39;m too I don&amp;#39;t have a track record No One&amp;#39;s Gonna believe me I&amp;#39;m too young I&amp;#39;m inexperienced Etc like who&amp;#39;s going to invest in me and my dad gave me this great example he said Bridger I want you to imagine right now we found this Lamborghini Aventador in Billings Montana okay this car is about a 300 000 car all right I think I put on here we&amp;#39;ll put a a little bit lower yeah 300 000 car and this person selling this is going in they&amp;#39;re they&amp;#39;re going to bankruptcy Etc they just need money like this they need money by Saturday and they&amp;#39;re willing to sell the car for 50 000 now just go with me as an example okay they&amp;#39;re willing to sell the car for 50 000 cash Saturday morning and you could turn around on Monday and sell it for three hundred thousand dollars okay sound good you guys getting the scenario goes Bridger imagine we have this deal you got a phone call right now and it&amp;#39;s verified we&amp;#39;ve had people look at it&amp;#39;s all checked out all you need to do is come up with 50 Grand by Saturday could you do it you can&amp;#39;t use any of your own money could you find fifty thousand dollars by Saturday morning in this room who feels like they could find fifty thousand by Saturday morning it&amp;#39;s all checked out Steel okay and I I was sitting there I was like you know what I don&amp;#39;t have an experience but I have a pretty good deal I could I would stay up late I&amp;#39;d call whoever I would knock on doors I&amp;#39;m gonna make 250 000 this weekend in college dang straight I&amp;#39;m fine at 50 Grand like I&amp;#39;ll run through a brick wall for quarter million dollars and maybe we&amp;#39;ll split at 50 50. maybe I&amp;#39;ll make 100 Grand cool 100 Grand in a weekend like I&amp;#39;m in I&amp;#39;ll call I&amp;#39;ll knock doors I&amp;#39;ll go fine I&amp;#39;m going to Grandma&amp;#39;s house I&amp;#39;m going to your my neighbor&amp;#39;s Grandma&amp;#39;s house I don&amp;#39;t care who it is I&amp;#39;m gonna talk to him yeah hear me say yes okay and I was like you know what I bet I could find it he goes Bridge what about 100 grand could you find a hundred thousand dollars I was like yeah I think you can do it he goes huh that&amp;#39;s interesting three minutes ago you were telling me you&amp;#39;re too young you&amp;#39;re inexperienced you don&amp;#39;t have the track record and all of a sudden you&amp;#39;re telling me you could find fifty thousand dollars by Saturday huh and I was like huh it&amp;#39;s interesting and he goes because when you have a deal that&amp;#39;s so good people look past now it&amp;#39;s still good to have credibility tracker it&amp;#39;s still good to have all that but when you have a really good deal like this and you just say hey look at the deal you even cut me out just look at the deal you find the whole end deal it&amp;#39;s a pretty good deal you can find a lot of capital that&amp;#39;s how my dad&amp;#39;s like this is how we raised our first fund we LED with deals so for example here&amp;#39;s a real estate property pre-foreclosure okay so I want to put a different example not Lamborghinis but a property pre-foreclosure mortgage is 12.50 a month this guy is behind on his mortgage doesn&amp;#39;t want to move out doesn&amp;#39;t want to go bankrupt really doesn&amp;#39;t want to go bankrupt just for Pride&amp;#39;s sake okay so there&amp;#39;s 300 000 of debt on the house if you rehabbed 100 Grand arv let&amp;#39;s just call it 600 000 so after rehab value you could sell this property for 600 000 if you put 100 Grand into it rehab pre-foreclosure offer let&amp;#39;s say we give this guy an offer at 350. okay so hey we&amp;#39;ll give you I know you got more Equity than that you could probably maybe he&amp;#39;s got 200 000 Equity hey you&amp;#39;re not gonna go bankrupt we&amp;#39;ll still give you 50 Grand of equity after we pay out debt you want to take this offer now some may say no but let&amp;#39;s just say this guy says yes there&amp;#39;s actually a whole study about 20 of pre foreclosure people will take a deal like this eighty percent won&amp;#39;t but 20 will because they do not want to be foreclosed on and they actually can even rent the house back for me even when once you&amp;#39;re done so if we did 350 plus 100K of rehab minus 600 you net 150 Grand how my real some people you guys know deals like this all you see deals like this all the time and what do you do when you pitch investors hey I may not have the greatest try I&amp;#39;m not some Wall Street sharp whatever but just look at the deal how do we lose money if we buy this property for 350 how do we lose money all right all of a sudden if you&amp;#39;re if you&amp;#39;re in this room like I don&amp;#39;t have a Tracker and I&amp;#39;ll have the TR I don&amp;#39;t have the XYZ thing I need lead with the deal and that&amp;#39;s my dad taught me so step one of the fun launch formula is find an amazing deal for with me say find an amazing deal okay that&amp;#39;s step number one of the phone launch program so lead with a great deal now a lot of people okay I&amp;#39;m like and I&amp;#39;m I&amp;#39;m walking through the four steps to launch of fun okay Bridger I found a great deal okay I want to go there they always think okay I&amp;#39;m gonna go to now I need to do a legal and it&amp;#39;s like hold on before you do legal we got a few other steps and process now a few other examples of great deals I want to just give you guys more examples okay there are many inefficiencies across markets that money and strategy can solve okay say it one more time there&amp;#39;s many inefficiencies and markets that money and strategy can solve so for example venture capital what&amp;#39;s a market inefficiency that you&amp;#39;re solving with Venture Capital there are startup Founders that have a great idea of minimal valuable product and they need Capital to hire and grow and get that product to Market ta-da a venture capital fund can come in and fill that market inefficiency and you have a great deal does that kind of make sense another example private money lending anybody do private money lending hard money lending Etc my dad&amp;#39;s actually first photos he probably talked about tonight a little bit um over leverage someone typically right now today&amp;#39;s market we&amp;#39;re seeing this more and more you need money to float for the next let&amp;#39;s call it six months okay um you take collateral real estate on the loan so you collateralize the loan let&amp;#39;s say you have a house it&amp;#39;s a million dollars hey I&amp;#39;ll give you a loan of 500 000 if you don&amp;#39;t pay back I&amp;#39;ll take the house it&amp;#39;s a million dollars so it&amp;#39;s a win-win either they pay me back 500 000 plus my interest payment or they don&amp;#39;t pay me back and I get the million dollar house right win-win is that going to make sense forgive me say yes okay real estate construction again inefficiencies in the market what they&amp;#39;re essentially solving is there&amp;#39;s a housing shortage certain people in the area want a lot of jobs and you build more units in that area to fill a market inefficiency that Capital can solve does that kind of make sense uh clothing brands anybody run a clothing brand here I have a bunch of friends that run major clothing brands they keep having this Chicken and the Egg problem they need sales to buy inventory and they need inventory to buy sales there&amp;#39;s inefficiency there and they try to get bigger I have a friend who runs I think it&amp;#39;s 15 million a year and he&amp;#39;s like we&amp;#39;re still having this problem we need more money to buy inventory to get more sales to get more inventory to get more sales and it&amp;#39;s just this circle so we can do is come to inventory financing it fills a gap in that market does that kind of make sense you fill these inventory we have people in Black Card buying shipping containers moving them around the world it&amp;#39;s pretty cool okay this is the concept of Arbitrage okay so the definition of if you&amp;#39;ve heard of Arbitrage the definition of Arbitrage is buying one thing in one market and selling it for a different price in a different Market it&amp;#39;s the only definition of Mark of Arbitrage most of us make a lot of money off of Arbitrage in a lot of ways so for instance water in the middle of the desert how much would you pay for a water in the middle of the desert ten twenty fifty dollars how much is water worth in Costco maybe a dollar two dollars so if you can take water from one market Costco it&amp;#39;s a dollar and take it to a different market like the middle of the desert or an airplane you can sell it for a different price and you have an Arbitrage between those two prices that makes sense definition of Arbitrage so a great example my traders in the group long-term Capital Management it&amp;#39;s a big fun on Wall Street in the 90s they did this their whole strategy was around they found an Arbitrage Play Between the 29.75-year treasury and the 30-year Treasury they found that the 30-year treasury was overbought because it was everyone knows the 30-year very few people know that 29.75 year who&amp;#39;s heard of that right so what they did this is before it kind of a pre all the new systems and stuff they found that the 30-year treasury was overbought in the 29.75 year was underbought and all they did was just play that little Arbitrage there&amp;#39;s other groups that have done this with Bitcoin they sell it in some countries versus other countries they&amp;#39;re different prices between exchanges One exchange says the price of Bitcoin is this other exchanges say the price of Bitcoin is this what they do is just buy it on one exchange and sell another exchange does that kind of make sense Arbitrage play this actually happens in funds today is arbitrage play is that kind of making sense you read me say yes all right another one is economies of scale we talked about this earlier all economies of scale are many products right here many companies would be successful to come sale but don&amp;#39;t have Capital to hit that point to produce one iPhone cost let&amp;#39;s just call it 400 million dollars to produce one iPhone to get the attack and the engineers and everything how much does it cost to produce the second iPhone on average maybe at 200 million and the third iPhone is like 100 million a piece and the fifth iPhone it&amp;#39;s like 30 million a piece and then it gets out once you produce a million iPhones the average cost to produce each iPhone is maybe 500 bucks it&amp;#39;s called economies of scale right to boost the first ones very expensive but as you copy and paste that model you can have what they call economies of scale there are many companies out there waiting and hoping for someone in this room to start a fund to help get them to economies of scale does that kind of make sense they need that Capital injection to get there this is what we call um asymmetrical risk for your fund so you&amp;#39;re trying to find asymmetrical asymmetric risk means we&amp;#39;ve all heard high risk High reward right asymmetrical risker low risk low reward Ace Smasher risk means low risk with relatively High reward that&amp;#39;s that Gap is called asymmetrics that&amp;#39;s what we thrive on sound good so that&amp;#39;s number one find an amazing deal okay is that kind of making sense you guys with me so far so Bridger okay I&amp;#39;m ready for legal okay I want to do legal docs hold on that&amp;#39;s number four once you have this great idea for your fun again four-step formula for fun launch go out and frame the deal we&amp;#39;ll talk about some more tonight but you go frame the deal to prep the catch-up characters how the whole deal is put together how you investors get paid back structure offering deal etc then before you go do all this other stuff go and raise Capital so number three go actually and Pitch investors go actually start floating this round of app see if they&amp;#39;re interested in this credential deal again before you spend all the money so um now how am I going to raise money without legal docs Bridger go and soft float this to investors go find mentors people in your life hey would you invest in this deal if we if we actually paid for legal docs did everything would you actually invest in this what you do is you build what I call soft commitments or verbal commitments into a deal before you go build it okay with the legal docs now but Bridger who&amp;#39;s going to give me the money I love this quote from Warren Buffett he says when I was young I had a lot of ideas and not a lot of money and now that I&amp;#39;m old the roles have reversed and I like investing in people with great ideas but not but just need money uh take a wild guess what&amp;#39;s the average net worth of a baby boomer right now anybody shout it out 2 million what&amp;#39;d you say 1.5 Etc I was actually spot on the average net worth is 1.175 that kind of crazy I did not expect that when I looked this up the average the average not like the high end would have the average the middle is 1.175 there are a lot of baby boomers or people that are older generation right here 84 trillion dollars they control and a lot of them are just like Warren Buffett I want to invest into people and younger people that have ideas funds Etc they can just put my Capital to work okay so next time you see a boomer be nice okay all right be nice to them because they&amp;#39;ve got a lot of money they&amp;#39;re gonna send you away all right so again get soft commits from investors and then and only then go and finish your legal docs LP hire my brother come out and he can do all the legal doctor firms like his to come and do our docs huge 100 page documents typically just so you&amp;#39;re aware they&amp;#39;re about anyways this is just from websites 50 to maybe even 300 000 for docs now you can reimburse those though back from your fund okay um so that is that was a pretty quick version but the best way to launch a fund is through the fun launch form is that kind of make sense four steps is that pretty good you can climbing up for the fun last formula it&amp;#39;s not bad now Bridger I&amp;#39;m just gonna say this I&amp;#39;m not smart enough to do this we&amp;#39;re not you know might be feeling I&amp;#39;m not smart enough I can&amp;#39;t do this this is too complex again if these three individuals can do what they do we can do everything yeah can I get an amen all right so um I want to emphasize this and then we&amp;#39;ll wrap up we got our next speaker coming on um it&amp;#39;s not the how it&amp;#39;s The Who so I know there&amp;#39;s a lot of people in here man I don&amp;#39;t know how to flip a house I don&amp;#39;t know how to trade I don&amp;#39;t know how to do a fun Etc that&amp;#39;s okay very few funds almost zero funds are run by one person there&amp;#39;s actually three distinct categories of people in a fund you have your expert investor your fund manager and your money Raiser expert investor is the person that&amp;#39;s maybe really good at life in my fund for example I&amp;#39;m I&amp;#39;m not good at crypto I don&amp;#39;t know anything about crypto my business partner is always a geek on crypto he&amp;#39;s amazing at crypto I&amp;#39;m very good at fund management running a fund how to build an SEC structure Etc and both of us help raise money together does that kind of make sense so that&amp;#39;s kind of how they mix together so at this conference look around for people that can fit one of these categories you don&amp;#39;t need to be the expert on all of them just be really good at one of them hey maybe I&amp;#39;m really good at raising cap and I&amp;#39;m really good at networking meeting people I&amp;#39;m really good at maybe trading options maybe I&amp;#39;m really good at fund management Etc and find people you can connect with the partners that sound good with me say yes okay build those amazing teams so again the best way to launch a funnel through the fun launch formula um now when I first started going to events I was skeptical I go to events and I was like I don&amp;#39;t know about the speaker the stuff on stage Etc and I would always sit in the back and kind of like you know I&amp;#39;m I you know whatever push it away and I want to invite you for these next three days to put your ego aside and go all in and have in the back of your brain maybe there&amp;#39;s a chance that what that person&amp;#39;s saying on stage has something to it maybe there&amp;#39;s a chance someone that someone&amp;#39;s saying on stage maybe they&amp;#39;ve been through something before that I haven&amp;#39;t been through and I can learn from them so I&amp;#39;m going to ask this group especially in the finance Community Etc we love to be like the skeptic and like I know better Etc I&amp;#39;m going to ask you to put your egos aside a little bit and buy in and just go with go with the speaker whoever&amp;#39;s up here&amp;#39;s like you know I&amp;#39;ll just go with you I&amp;#39;m gonna take my I&amp;#39;m gonna take notes I&amp;#39;m just gonna go with you for a little bit is that sound fair I love this book let me read this book it&amp;#39;s called The Go Giver short little book oh a bunch of people okay this book talks about the concept of being a go-giver meaning you know some people in which is great they give money at the end of the year they have a big check they write like a huge check out to a charity Etc this book talks about the concept of having little little giveaways your whole life being a go be always ready to give money or share something to other people actually me and my wife started doing this really it was a funnest thing we ever spent our money on we&amp;#39;d put 50 or 100 bills in our pocket and just always have them on us so if we were at the grocery store or wherever and we saw someone that needed their groceries paid for them you just bam hey here you go I got your groceries no worries that&amp;#39;s a really fun way to spend money and uh it&amp;#39;s all from this book it talked about the concept of go giving and being always ready to give and I personally I I don&amp;#39;t love to give to people that are begging I mean I kind of do but I really love to give to people that are working like the cashier working at Smith&amp;#39;s that&amp;#39;s my favorite part like you know people that are like have kids at home are trying to work like doing all this kind of stuff Additionally you don&amp;#39;t have to just give money I&amp;#39;m going to invite you at this conference to give be a go-giver to the people around you give them contacts your network your smile your engagement be a go-giver be someone that goes out and actively is thinking about how to serve the people around you what will happen is you&amp;#39;re gonna find they&amp;#39;re going to serve you back 10 times more and you&amp;#39;ll get way more than you ever put in get in the habit of I love this quote get in the habit of go giving yeah I&amp;#39;m gonna invite you to get in the habit of go get it but the reason I love this because it&amp;#39;s by me this is my quote okay just kidding but get in the habit of code giving all right so um during this conference of this day give to the people around you talk to them meet them don&amp;#39;t go to lunch alone don&amp;#39;t go to dinner alone grab someone who hey let&amp;#39;s go to dinner together let&amp;#39;s go to lunch together we&amp;#39;re gonna give you guys breaks and time to go Network you have plenty of time to network don&amp;#39;t be stressed out about it we have plenty of stuff planned for you to network and meet people be a go Giver y&amp;#39;all are amazing my name is Bridget Pennington thank you guys so much y&amp;#39;all are amazing thank you

Transcript for:Fund Launch Live - Bridger Pennington's Presentation

Transcript for:
Fund Launch Live - Bridger Pennington's Presentation