129 - Anothony Zhang (Vinovest) on Wine as an Asset Class
Forward Thinking Founders
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Full episode transcript -

0:10

All right. How's it going? Everyone? Welcome to another episode of forward thinking founders we're talking about is about their companies. Their visions for the future. Aptitude. Playa. I am very excited to be talking to Anthony Xanadu is the creator. The co founder of you know That's Anthony. Welcome to the show

0:26

I'm doing. Well, thanks for having me, Matt.

0:28

Yeah, thanks for coming on. Remember when we first connected a little bit ago? I thought the idea was awesome, Nam. So with that, let's just kind of get into What are you working on? You know, that's what is it,

0:45

Vino? Bess is the easiest way to invest in fine wine. So we provide a platform where you can accurately price find accurately yet into an asset class that is actually outperformed the S and P 500 over the past two decades and find an easy way to have your storage managed fully and sugared and have additional investment experience for a physical asset that was traditionally usually only available to the top 1% of the ultrawealthy

1:16

super unique idea, I think I mean, it seems obvious when you say it. I've never heard of a company like this before. How do you get the idea? And I guess where did your interest of wine come in?

1:26

Yeah. So I had the idea a couple a couple months ago. I was with my co founder, Brent, and we had actually been collecting and trading lines for a little bit. Then we just were talking about how not user friendly the entire experience was. We had to go through different brokers to find the right lines, compare prices with over 50 different sites and then also manage your own third party store. Virtues beaten, own our own professional wine, storage cellars and not many other people. Do you know what? If there was an easier way, wouldn't way more people be into this aspect? Plus, and that's how you know best was born. Um,

you know, my interest from it is definitely personal interest. I love drinking wine. I've some family in the wine importing industry as well. So it's something that I've been really familiar with growing up with, and I'd always kind of known the concept of, you know, some of these wine bottles in our cellar are get older and more expensive as the agent. That's kind of what drives the fundamental value line.

2:31

So tell me a little bit on how it works. I let's adjust that pretty much nothing about investing. And why am I? Not even like I earlier in my career is like, I don't even have that much expend Experts in vesting period so confounded. Explain how this works.

2:47

Absolutely. The first step is after signing up you go through a quick quiz and we get information from you about, you know, do you consider yourself conservative, moderate, aggressive? How much money do you think you'll be putting into the plot for What's your investment time horizon? And based on that, we actually have built out software that can automatically generated customized portfolio of winds for you. So it's perfect for a beginner. They need to know nothing about why and just a little bit more about their personal investing style else, and based on that will go ahead and source. The market price for these wines will then help store them in our fully insured facilities. And as the consumer, you can just look at a additional investing dashboard and look at your wines. Appreciate over time

3:34

is it. One of these things were, Let's say I wanted Thio invest in Well, it's a It's a rare one. I can't name one. I personally don't know that much about one. I think it's awesome that you're attacking the final tons of people that do that. Let's say I I one of the best in a wine. Do you seek out a wine if I want to invest in it is a more like, Hey, here's what you have in an editorial views, but you can invest in How does that work?

3:59

Very question. So we have two different products. The 1st 1 is more of a manage side. It's more for people who they're like. I $5000. I have $10,000. I know nothing about wine. Just give me a portfolio of lines. I can get me the best. Richard. So that's the first version. The 2nd 1 is kind of like what you're describing, say so you do know a little bit more about this space when you want a little more controller. Report Folio. It's more like a Robin Hood experience where you can just, you know, search for wine price it tracking over time and then buy and sell it

4:31

and tell me a little bit about wine as an asset class, I only as a class to asset classes. I guess I care about the tech start ups and his Cryptocurrency, and they're very different. And that Linus, I'm gonna have her before before we met. If you give me an idea of what someone should invest in wine, what's going on in the industry There?

4:52

Absolutely. So for high and minds. They're made to be aged for a long time, and that's what the primary driver of value is. No. One. A wine doesn't reach its full potential until 20 you know, 30 maybe 50 years in the future. There's that inherent appreciation crew for people want to store it agent and sit on it as he gets better. Obviously, you can't go back in time to make more from the wine from the year 2000. So as time goes on, there's less and less supplies. People drink it, so it's supply constraint financed supply demand for it goes up over time. And that's how that's how you know, wine appreciates from like a very,

very fundamental level of course, there's things like liquidity on secondary markets, brand equity and things like that. But that, um, you know, out of basic that's that's how I would explain

5:41

it. It's so let's say I wanted to put in 10 K and let's say the man extra bits do you Dwight own? These are pretty basic questions on probably your honor for me. I just like one out of this and better own pieces of huddle. Or do I own a bottle? And then, as what's in that bottle gets worth, but it is worth more overtime. Appreciates? I get that upside or literally, what am I actually investing in? And if I want to pull out? Hey, why do you get that monkey like it has? That whole process works

6:18

totally. Eso you own the full underlying asset. Essentially, we are a platform that helps you facilitate buying the wine. So say if at the end of the day you wanted to celebrate your birthday and fallen on some nice wine, you could take it off for a platform and drink it if you wanted to liquidate it. Well, then match you with the counterparty and you you can cash out anytime. A swell.

6:45

That's cool. So let's say I know invested in a bunch of wine and I have a big party from Ayman. What can you tell me? That the user experience of getting an actual if I want, like, one of those bottles that I own? Um, do you ship it? I go to the center like I'm just interested in the logistics behind the actual transportation of the wine.

7:9

Yeah. So we have a global network of storage facilities that we work with. They're all professionally managed, like one of them in England. The British royal family actually start. Is there wine in the same place that we do? So they're top notch fully insured. And when you want it, you want I delivered. It depends on which warehouse it is, but well, pretty much automatically match you up with the right third party logistics provider. Get a shift over to you, or if you want to go visit in person, you could do that as well.

7:39

It was the logistics piece, like a kind of a pain in your act. So I feel like you you get into this for the wine and the investing with those things that you need to dio do it to build that out some wondering, like you have much of a logistics background. Or how do you think about the logistics of something like that? But seem like this is slightly having How do you think about that?

8:1

Yeah, the first company I built waas a food delivery up. So we had to deal with a lot of local logistics. That was Maur. I'm pressing, you know, food. When something's five minutes late in the wine roll, that's not too bad. But if it's food, someone's really Matt S. O. I do have a logistics background. Thankfully, on a global scale, wine has very, very established supply chain and logistics patterns. It's just very, very fragments all around the world. So most of the heavy lifting was actually building software that could bring this online.

8:39

Yeah, I think sense. And then I have another question generally about investing, and I have a few questions around investigating. So would you say, Well, let's see. Uh, I was rich, you know, and I'm 0% Rex. But if I was and I like it over its people, they invested their call peace and summons these. BC bones They invest in the stock market, and then maybe you beast cut a slipper out for this. Would you say it? Wine is an asset class,

that it's the same terms when you invest in wine. This is investing in bonds and resting for thicker and see specifically what? I'm what I'm wondering if, like, you know what the word cost basis means.

9:16

Yeah, absolutely. So I think one. Someone is thinking about their asset allocation, Andi, especially with things outside of the traditional markets. So things they're not stocks and bonds, right? You have a ton of options when it comes alternatives on, and I think it does. Thing depends on where you are. But say, if you are investing half of all your alternatives into something extremely risky, like crypto, it probably helps us something a lot more stable, like wine, which is very long term,

you know, it's very low volatility. Historically, you know something like something like wine or real estate to bounce it out. So it is a matter of personal preference, but in terms of how I would mark it fine. Two on investor Looking from an asset allocation perspective, it would be that it's proven to be an un correlated assets of the market. It's also proven to be very, very strong during market downturns. That's a hedge. And in terms of the return of while you can get anywhere from my 8 to 12% Aneta fees, it's not something that's gonna make you rich. 10 X return like cribbed. Oh, but it's also very good on a wealth preservation strategy. This

10:27

is This is also just because I literally it not super well versed in investing in Like I was thinking before me before we met. I wouldn't have thought you could invest in what no one was an asset class and curious for you. Is there a lot of education on your end? Just tell people that hate you actually can invest in wine. What's that education process like?

10:49

Yeah, I think that's a big component of what we're trying to do with, you know, Bess, because most of our customers right now Oh, no. They like you. They knew nothing about investing in mind. They don't even know why I was in Best Bowler. Even if they did, they didn't know where to start. So I think it starts with, you know, being in the right communities and the right channels where people are talking about investing in general, personal finance, a general. And you know,

when we're talking about new and novel asset classes or nontraditional Astor classes, that's where we can kind of insert ourselves into the conversation because, you know, once you talk about it for a little bit, it makes a lot of Cecil checks off a lot of boxes when you're talking about things that you want to invest in in terms of the risk profile, the return profile, yeah, it's a pretty attractive asset class.

11:38

I'm curious on locations. Before we started recording, you mention you're based in L. A. I'm a big fan ability. I think there's a lot going on there, but based, even though I have a limited knowledge on, you know that like a little north of San Francisco was the mecca of wine. So I'm curious. Do you make a lot of trips to the the vine yards? Are, you know up there or be able to operate fully in L. A. And you just have resources around the country. It's how do you get to the wines?

12:5

Yeah, The great thing is, what technology? We're able to be fully remote. That's something I love about building this company, You know, Why is global? Most of the great wines in the world are in France and Italy and Spain and our distribution networks, and our connections had to be built that global scale in mind. From day one,

12:28

this'll be a weird question, like against doesn't talk about periods like I've never heard of it. Are you pretty? It's pretty much a blue ocean for you. Like who? Who is someone else that helps people invest in wine and, like I don't know, I guess I think it's such a giant opportunity, like so many people that love helpless. I love the idea of wine, and I drink it sometimes, And I would even best when I'm financially able to eat something curious like, Is it a promotion for you?

12:57

Not quite a bluish, and there's there's a lot of players in the space, but I don't think anyone's been taking that approach for accessibility in a wine especially high and wind kind of has the connotation of being pretty snobby. No more for the rich people are kind of old money and that it does seem to be, um, kind of permeating with the wine investment solution. So today you invest in a wine hedge fund, but you have to be in a credit investor. You have to have a certain minimum amount, and there's lockup periods and how long they can hold your funds with Andi. Same with the current solutions. You know, there are a few people who are trying to do something like us, but, um, frankly, it is.

It's just not there in terms usability. I don't think anybody, unless they are obsessed with wine, would go through the hoops and hurdles that, like Branson, I went through to become wine collectors and investors. Unless unless they had a lot of perseverance.

13:52

That's something that I learned personally and also learned for the podcast that you can't really compete with someone who's genuinely interested in something else to do. Like we'll keep going through the idea. May is when no one else will. You have your interest in the area, which is cool. Um, I want to focus a little bit on, um on L. A and because I feel like I talked to a lot of founders and SF and a lot of founders in New York. So actually, like, I feel like I have a good idea of what it's like starting a company. And I drew these two cities. But don't talk to as many in that late. Sometimes curiously, are you pretty tapped into detective because it's, um, they're like, How have lights building, Uh, building your company There any information you have on the startups and texting about to hear it?

14:38

Yeah, absolutely. I love living in L. A. Not just from a talent perspective, but just from a lighthouse lifestyle perspective. You know, you have the beach, you have perfect weather and you have a lot of other industries that are exciting. But not just check your real estate. You have obviously Hollywood fashion. I think that's really cool. You know, it's not just one dimensional on in terms of talent, you know, it's amazing cos here snapshot uh, my dance,

the parent company of TIC tac, was based here in the U. S. Office headspace s. Oh, that's actually those three companies air where some of our founding team members usedto work, So there's a ton of talent. I think everyone's just generally happier here in terms of the lifestyle.

15:28

See, Phoenix isn't isn't a in l. A. What is in L. A in the Ronald, Just like, you know, a great lifestyle like, damn, I can work super hard here, you know, for, like, 12 13 hours a day. Whatever. I could totally live a separate life when I'm not doing that, you know,

with my friends and my girlfriend, and I can do whatever I want. And there's no way you're not. You don't stop total ox where you can't escape your work. I can never be that.

15:56

Yeah, I love that aspect of not having that balance and just being able to completely unplug. And you can go a week in an l. A. And no one will even know what crypto is or give a shit about what could do is insane with client, you know? So it's it's nice feel to have that separation.

16:14

Do you know the founder and l A name? Steed Odell. He started tens o t.

16:20

No, I don't think I've ever met Steve

16:23

Man Steed. He might be one of my favorite episodes I've ever done on the block. Asked out of, like, I don't know, 120 years. So he's based in L. A. Um, he's just this You talk to him for 10 minutes and you're just like I take on the world that, uh, just has that kind of energy, which it was just totally, totally medium drinks him his power tens o t. We can invest in some line

16:50

call out. Steve, I want to meet you.

16:52

Yeah. Oh, my gosh. That guys, I feel like I'm very funny, overly over the podcast over the last year. And, you know, in a few months I've been doing I definitely talk about random Guess randomly, I wonder. Like people actually like, I wonder people, Steve will get attention, Alice through the time. Anyways, um, so what?

You mentioned lifestyle and a little bit of what you didn't say Work life balance. But you kind of alluded till something like that. I'm serious when you're not. When you're not working on you know best. What are things that you're either doing or thinking about or, you know, pondering, I guess. Outside of of your startup, what is your life that you want to think about technologies of love, to hear anything like that.

17:37

Totally. I think for me, um, thinking about so like life's best moments. It's always been good friends, good food, good wine on. And when I was starting, you know, I guess I was thinking, Ah, lot about kind of this work life balance and definitely needed to be something that had a personal passion for So The good thing is, I love wine. I love exploring restaurants and you kind of just goes hand in hand together. So my girlfriend and I, we cook a lot. We love the Chinese recipes we love to travel and visit you restaurants on and good things being in California is there's a lot of amazing wineries to visit, eh? So that's something that we like to do in plan trips for a swell

18:22

nice, um, is what what are some unique places? I want approximately a little, a little more because I'm trying to learn more about it myself. Are there obviously Northern California about San Francisco, north of San Francisco? This much, uh, you know, it's like wine and fill it up in front of scared that it's like Wine County is what it's called. Is there a what? What? Is there anything like that in l A And or I guess what I'm really asking is what areas of a way of l A do you like? Whether it's like an entertainment district on top of the Hollywood sign? Like, I guess what are some, uh, here is a bit late that you are special to you.

19:5

Yeah. I mean, Ellie is massive. I mean, downtown L A will always have a special place. My heart goes. I went to USC. That's when my girlfriend and I met, Um, and, you know, it's, uh it's really exciting spot, you know, with the fashion district in the arts district next to their when you're talking about, like, wine places just two hours up north of Santa Barbara.

Ton of amazing wineries out there. I think it's not like maybe 200 something Wineries s Oh, that's that's a place that we love to just kind of spend a weekend at. Yeah, I live on the West Side and Culver City. Kind of cool stuff going on there, too,

19:41

is there? I hear from afar of this like Silicon Beach, where you have, like, five or six or seven beaches that are connected on the coast, that just creating this like text. You know, mecha, um, is do you Are you anywhere near Silicon Nature? Is that like a thing that of them truly exist? Aye, aye, aye. Uh, curious to know I'll switch the topic in a second. I was like, That's the last question on L. A. What's what's something, Beach.

20:10

I think that's a pretty nifty marketing phrase. There are a lot of startups in, like the Santa Monica Slash Venice area, which is all like beachfront. Um, and there's definitely, like, a lot of, you know, kind of a local like Snap headquarters school headquarters. They're all pretty close to that. I'm sorry to say, like, that's what you would characterize that at, um B. I think it's more so, like you have Silicon Valley and reporters are people in the marketing industry want to make a silicon X for a new a new city and you know,

if it's well, you know, But yeah, I wouldn't say there's like a place you can point on the map. Feel like I'm in Silicon Beach. Right now,

20:57

that's funny. You say that about five years together. It's a pretty big blush in Arizona for a silicon death desert. And there's just a giant group that just like, totally coup food. It is a contact that maybe they who sent that feel really bad. Not in a bad way, but just like, No, we're not derivative of s that for something else. I totally understand that. So get a little bit into your mouths. Suit your background. Obviously you have some experience is best like you started something like this or something. In a little Just fix something curious. How has your previous experience do you think prepared you well to work on on this? Start up and let's just hear what some of the similarities and differences from starting your first company and versus starting this company?

21:48

Yes, in my first company on boy. Now we were called for delivery. Uh, you know, we similarly, we raise venture funding, were able to grow a remote team as well on. And I think the biggest things that I learned was just based on communication, chin and growing a team without being in an office um I really loves doing that. I felt like it gave me the opportunity to meet and work with people that, you know, I otherwise wouldn't have had the opportunity to just given geographic constraints And, you know, being ableto communicate effectively throughout, You know, they're using modern technology.

So right now you know our team. You know, we have some team members in New York and l a and, uh even in l. A. We don't go into an office every day. We know we work out of her part events. We have our own lives. And obviously with how awful l a traffic is, we get a lot where lives back just by being remote. So I think that's there's some kind of key learnings, which is organizational building that I've had. And then, um, you know, obviously with with fundraising as well im you learn a lot of lessons with rejection, how to deal with investors howto get the most out of your investors as well. And I think it definitely gets easier the second go around.

23:8

How do you get the most out of your investors like once? Obviously they're invested, so they want the incentives are totally alive. This, but like human insured few ticks. Are you sure you give any tactics for someone that just raised to see around how they can best get most of their investors health? Um, but whatever this helpless,

23:27

Yeah, I would say that investors are generally they're to be helpful, but they know that as an early stage, fat out of your really busy, they don't want to impose. So when you need help, you have to ask. You can't assume that they know your problems. And I think another thing that I learned is that it's okay to tell him that you have problems. I think a lot of times entrepreneurs are worried about only sharing the good things right. A lot of time shits on fire, and you need to be able to leverage your network because it's not like they're gonna what like un investing you. So like, what's the worst thing that could happen? So I would definitely just be very, very forthcoming, asked for help and be vulnerable as a founder

24:9

and let's go pre closing of round. If someone has, let's say they bring traction, he should be able to raise some money on. But let's say this section really realistic for someone like me or someone outside of you know, one of the hooks. Let's say you're gonna rock the chip based in Nebraska. The bullets, they you know, warm Internet. Anybody see it in San Francisco? What strategy is or L. A or New York? What strategies would you suggest to them to help find that lead investor or help secret, secure the bag and raise that's on them,

24:42

I would say You gotta hustle like you just gotta know someone who knows someone and like, start having conversations. You know, you gotta be able to leverage other founders because they've been in your position before in the past, and they have got investors and, you know, investors get a technical females. But the e mails that the reed are from their portfolio s so that I think you know, it's it's the best tried and true strategy that or for anybody of regardless of where they live, because you can always reach out to another founder on LinkedIn on Twitter or whatever. And as long as you have a compelling story or what you're building is relevant or interesting, to them. I think that you can get get a good shot of the conversation and once you get a good strike up a conversation, you can maybe ask for a few interests.

25:32

That says it's one of the reasons I originally started This podcast was like kind of for what you just said. The first lady, I don't know, 15 20. Yes, we're always see Cos I really wanted to get a note like I was like is probably a bad motivation. But I like what I see like that. That's it now. I mean, it's definitely more like, you know, very fun to do. I don't have any, like I'm just doing it with its fun. I don't have any like secret motivation making like that. That's how it started. And I do think that if more people more founders focused on a networking with other sound rivers trying to go cold with investors,

if you will, the maybe better returns at the same time. It's something that I'm thinking about a lot, because why, why It is a cold email thought of weight of lower than a warm and show that the founders are my investors themselves So that is the look. It is a high level of action, but like if a founder intrusive, another founder to VC VC will look at them better than the female. But the founder is not a good investor, right? Founders a founder, Just like it's kind of explain that to me a little bit on how media veces value warm intros, other cardinals, even that warm intros or pulling from other investors that exact make sense.

26:52

Yeah, I think, I think, just based on the volume of requests that they get, you know, I haven't been a B C. This is just me speculating but imagining at 200 emails in my inbox today. You just can't physically read that many, and a lot of them will get caught and spam because you haven't interacted with them before. So it's just kind of like a brute force quality filter, and sure, it may be that will miss out on some deals. But, um, for the ones that they do get intro to, it comes from a trusted source, right? Um, you know, referrals are always stronger in any industry, and I think that's how they have to operate because BC is such such a relationship in referral driven business?

27:37

I totally agree with you on that. I just thinkit's a little unfortunate till it for people that don't have that connect at the same time, you just gotta hustle like you. If you're where you live like this. This thing called the Internet and if they use the Internet, will easily get in touch with whoever you want. Like

27:53

like we had no connection before we got in touch with the Internet. So I think that's another thing like Veces um, you know, maybe they want to see founders work a little bit harder to get that intro. Anyone can scrape an email address, but so actually put in the time to talk to a founder and then to actually learn if that BC may be the right fit to ask that found it for an intro. It's It's quite a few steps and hopefully hopefully gets rewarded.

28:19

Mandina founders. So interesting I feel doesn't know other quarter of job in the world like founders. Meteo just the a 1,000,000,000 different jobs at different points in time just even know when to wear certain hats and went back when the hustle. When I think smarter and it's like it just you find a good Salander. That's great. You know, great or what they do like it's so magical. Lost do their thing.

28:46

Yeah, I mean, it's It's definitely an extremely tough, but it's it's it's rewarding job. I love being a founder.

28:53

What is this all your answers? This I'm sure. You know, I've been the founder of the past as well, so I feel like this could change. This will change over time, but right now, what's funny before this thing about being a founder are more so, like the biggest challenge? Do you have a founder of this company?

29:12

I think for me is being able to deal with a lot of uncertainty right now. You know, our concept is brand new. We are in a brand new market that we're trying to expand and grow. Oh, end. Um, you know, we have a lot of really talented people who are spending a lot of time working on this problem. So it's like, Are we working on the right things? Can R R initial hypotheses even right? And I think it's about pushing forward, getting those small wins every day and be able to methodically and consistently prove out these hypotheses in No, at that part is just about having consistent progress in momentum. So I think that progress is definitely something that you know you earn every day. It's not just kind of like a product market fit. It's not just that magic switch that goes off. It's the accumulation of so many tests and failures and learnings and more tests.

30:12

Yeah, it's this analogy that I think is so great. What you like to fund the path of finding broader market is pushing a boulder up the hill am the path after proper market that is chasing the boulder as it's rolling down before it crashes and burns like like before rolls. Typically, you just lose control.

30:32

Yes, sir. Definitely definitely in that, Pushing off the hill face right now so I hope we can get across. Would

30:38

you say it with your last company? If you're open sharing like, did you experience product part? If it with that and if so, look like you're about it. If not, what did you learn about the push up that there may be applying to this company

30:52

Yeah, I would say in certain markets we had product. If it's so with us, you know, we're on different college campuses, the vibe of each college campus, the way it's set up, the student body, the availability of restaurants around the camp because it was all very, very different. So on one's ever working, you know, it was taking off, getting amazing market penetration. People were signing up. Drivers were making enough money. The customers were getting their food and on time.

But on other markets, it was like night and day, like we have you worry about even enough people signing up for shift. So out of this person orders on the Appy and no one picks it up. What? I have to go and to get on my bike and do the delivery. So, uh, we definitely experienced both at times, and, uh, it's definitely a night and day experience

31:46

for sure. Um so for we know best right now, what are you spending your time on? What are you thinking about? You know, you're like the start up phase of the company s O. What? Well, I just do two times like this when you first decided to start being the best. What was the decision that made you decide that you wanted to go full time like it was a trade? And then now that were full time. Like what's, uh what's the next month's too You look like and then we'll get a little

32:22

more longer term. Yeah, So I think that that Folsom I'm decision was when we had our initial M v p built out and we actually got that first customer. You know, we saw money come in the bank, and I'm like, All right, you know, I would be doing this person just a disservice if I did not. And my team did not go, you know, completely dedicated to this Smells that moment on. I think for us, and at least in the next month is making sure these early customers were happy. We wanna make sure that a they sign up. They love the platform. They feel comfortable putting their money in.

They want to put more money in overtime as they get more comfortable with, you know, mess with the asset class and also that no one is leaving. And you know, so far, we've been ableto you know, at least keep everybody on the platform and we're wanting Thio wanting to encourage that behavior.

33:18

Yeah, definitely. Then let's go big for a second on Lookout a decade. And let's assume every VC that you want to invest invest everything. Everything just happened, how it's supposed to happen. You know what this form, What's what would you have built? I mean, like, what's division? And if it gets as big as it could be like, What is that look like?

33:42

Yeah, that's always Ah, it's always a fun question because something that I know think about a lot. Dream about two. And I think, if you know that s reaches its full potential, it's going to be a way for anybody to tap into not just the asset class of wine, but other physical assets that have a similar characteristics, you know, whether be whiskey, rum, sock a on and also not just for the retail side. Right? Um, there's a lot of institutional investors that what to be able to invest in why, but there's no way to do that. So we want to build out financial products,

want to build out, you know, ways for people to invest in wine futures, wind derivatives, margin trade, wine, wine options and start building out in making this market much more sophisticated, which will also help with the liquidity of market on and really, really just expand the potential of what one can be and how people look at other asset classes that are not traditional today. I

34:48

love that last point and is, I think is young people coming in person. This is what I'm saying. This, I think, is like we learn more about investing and what you're able to do, what you're able to invest in, that we're just gonna invest more like sentence fun, you know? And I feel like our parents and needed their parents didn't have the Internet, you know, for some of the stuff. We're growing up with the Internet, where you grew up with the Internet. The opportunities are full and make that happen. Make the Latin your vision happen. You're gonna need some help.

You need any help from us turns from employees from the best years. And maybe you'll get Smuts from a forward thinking calendars. Listeners to The last question I have for you is what is it asked. You have the forward thinking founders, communities if you needed something from anyone. Listening floors here is how come help.

35:40

Yeah, I love that, um said to the community, you know, we're still out at such an early nascent stage. And I think what we want to do is to be able to effectively communicate the valley that we're bringing to you. The comm potential consumer. So lovely become on her website vino vest dot co checking out, You know? Please just tell me if you have any feedback and that would be me ass. I'd liketo what to get you to learn more about find one as an asset.

36:10

And the true true last question that I have is what is that would be too much pressure? I don't know, But I have to ask, What is your favorite wine? What's your favorite bottle of wine? If you want the wanted to invest in, what would you invest in?

36:26

Move favorite bottle of wine. So I felt we say it's the one that I shared with my co founder when we like them. This is good blind. We just had the idea of actually starting a company around it. It's about 2060 and Austin hope it's from Pasa Robles, Campbell, California, which is in Central Coast. It's, ah really, really just delicious. Primarily cabernet sauvignon wine. I'm so yeah, it definitely is. Ah, special wine. It's actually a line that we give to every new employee when they start, and we kind of tell him a little about the town. The story

37:8

that is, um, serious or rely on that. That wine bottle that you bought. That's awesome. Well, thank you so much for coming on to the podcast. Honestly, I think your product is super unique, never like it. And I think, you know, I think you along things

37:31

thanks so long that it was a pleasure.

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