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# Chipper CEO Tony Aguilar: Student loans will never be the same
- URL: https://www.ceo.com/episodes/tony-aguilar-s-journey-from-pecos-texas-to-solving-student-loan-debt-with-chipper/
- Published: 2023-05-25T10:00:02.000Z
- Updated: 2026-09-02T00:17:15.000Z
- Description: Tony Aguilar spent three years running a student loan company while nobody had to pay a student loan.
- Author: Clint Betts

# Tony Aguilar and the coin flip

On May 25, 2023, Tony Aguilar had been wrong about the same thing for two years.

Federal student loan payments had been paused since March 2020\. Aguilar ran Chipper, an Austin app that helped borrowers manage those loans. The government had extended the pause nine times. Nine times he had told his board when he thought it would end.

"I'm not going to predict anything anymore," he said on the CEO.com Podcast. "I've predicted payments resuming for the last year and a half, two years, and I've been wrong every single time."

The Supreme Court had heard arguments on President Biden's debt relief plan three months earlier. A ruling was expected by the end of June. Payments were supposed to restart 60 days after that. Aguilar was planning for August or September. He put his confidence at 50/50.

"It's tough to run a business when you don't know when it's happening," he said.

He had been in the student loan business for a decade by then, and in student debt for longer. He grew up in Pecos, Texas, a town of 5,000\. His parents did not finish high school. When he got into an Ivy League school, his father told him he did not care which school he picked, only that he was leaving. Aguilar went to Indiana without knowing that out-of-state tuition cost three times what Texas would have. He financed almost all of it. He came home owing more than $100,000.

His first job in Austin paid entry-level wages, and his loan payments ran past $1,200 a month, split across three or four servicers. He fell behind.

"I tried to call my school. My school couldn't help me. They're like, 'Call your servicer.' And I would call my servicer. My servicer's like, 'Well, we can help you with these loans, but we don't know what else you have, because we don't have them. So you're kind of on your own there.'"

He became a financial advisor and found that his clients had the same problem. One asked whether the education money in his 401(k) could pay off his student loans. The IRS said no. Aguilar built a company around the idea anyway. Student Loan Genius, now called Vault, was the first to get employers paying down their workers' student debt. He collected 59 rejections before an institution invested. Prudential and John Hancock eventually did, and in August 2015 Student Loan Genius was one of about 30 startups [chosen for the first White House Demo Day](https://www.globenewswire.com/news-release/2015/08/13/760553/10145994/en/Student-Loan-Genius-delivers-answer-to-pressing-debt-problem-at-inaugural-White-House-Demo-Day.html?ref=ceo.com).

Chipper came in 2018\. The original product rounded up purchases and sent the change to a borrower's loans. It got featured in the App Store. Then the support chatbot started filling up with questions about refinancing and forgiveness, which Chipper did not offer. At the start of 2020, the company pivoted to helping borrowers find the right repayment program and enroll in it. Two months later, the pandemic froze every federal loan in the country.

"If we would've focused just on chipping away, we would've died," Aguilar said.

The pause turned out to be an opening. Teachers and nurses with loans eligible for public service forgiveness wanted their paperwork done before payments came back. Chipper grew from zero to more than 150,000 users while none of them had to pay a dollar. In March 2022, the company [raised a $5.6 million seed round](https://www.chipper.app/blog/chipper-raises-5-6m-to-eliminate-student-loan-debt-and-combat-the-latinx-funding-gap?ref=ceo.com) led by Freestyle Capital, Propel Ventures and Slauson & Co., with more than a quarter of it pledged to diverse investors through the Cap Table Coalition. The plan was to be ready when repayment resumed that May.

It did not resume that May. Or that August. Or the January after.

"Our VCs, they're like, everyone's facing challenges right now," Aguilar said. "But for you guys, it's been a tougher journey." He described the rhythm of it. "It's like, 'another six months.' 'Oh, okay. All right. So board and investors, the plan that we had, we're going to nix that, and here's what the next six months looks like.'"

He was not bitter about the extensions. He thought borrowers needed them, given inflation. He just could not build a company on a date the government kept moving.

Every conversation on the CEO.com Podcast ends with the same question. The chances one gives are as important as the chances one takes. Who gave you one?

Aguilar named his father first, and borrowed a line from Jimmy Valvano: the greatest gift you can give another person is to believe in them. Then Capital Factory and Josh Baer, who gave a financial advisor with no engineering background what he called an MBA in startups in three months. Then two mentors who had coached him through the last few years.

"If it wasn't for them to bounce ideas off, to get feedback, to let me cry and vent, I definitely wouldn't be here today."

Five weeks after the interview, on June 30, 2023, the Supreme Court [struck down the debt relief plan](https://www.supremecourt.gov/opinions/22pdf/22-506%5Fnmip.pdf?ref=ceo.com). Payments resumed that fall. Aguilar's timing had been right. In October, he [wrote for Forbes](https://www.forbes.com/sites/forbesfinancecouncil/2023/10/31/student-loan-payments-are-back-the-domino-effect-on-the-us-economy/?ref=ceo.com) that visitors to Chipper had jumped 500% since the ruling. He has since begun building [Turf FC](https://www.linkedin.com/in/tonyaguilarjr/?ref=ceo.com), a soccer entertainment venue near Austin FC's stadium, which he calls Topgolf for soccer.

```chapters
00:00:00 Tony's Upbringing in Pecos Texas
00:02:37 Graduating With Six Figures in Debt
00:07:01 Launching Student Loan Genius
00:09:06 Chipper's Pandemic Pivot
00:12:48 Federal Loan Payment Pause Explained
00:15:36 Raising Chipper's Seed Round
00:16:40 Supporting Underrepresented Founders
00:19:46 Austin's Booming Tech Ecosystem
00:22:46 The Future of Education
00:25:56 Integrating AI Into Chipper
00:28:23 Chances Given: Mentors and Gratitude
```

```vtt
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Tony,<00:00:10.676> it's<00:00:10.853> so<00:00:11.080> great<00:00:11.338> to<00:00:11.419> have<00:00:11.968> you,<00:00:12.614> um,<00:00:13.503> here<00:00:13.906> to<00:00:14.003> talk<00:00:14.246> about<00:00:14.488> everything<00:00:14.876> that<00:00:14.956> you're<00:00:15.134> working<00:00:15.441> on.

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Yeah.

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Yeah.

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And<00:03:04.498> so,<00:03:05.452> you<00:03:05.533> know,<00:03:05.710> I<00:03:05.872> think<00:03:06.018> we're<00:03:06.195> waking<00:03:06.519> up<00:03:06.664> to<00:03:06.842> it<00:03:06.939> now.

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But,<00:03:08.927> you<00:03:09.267> know,<00:03:09.509> the<00:03:09.590> problem<00:03:09.978> that<00:03:10.139> you're<00:03:10.236> trying<00:03:10.414> to<00:03:10.495> solve<00:03:10.786> with<00:03:10.964> Chipper,<00:03:11.449> I'd<00:03:11.594> love<00:03:11.772> for<00:03:11.853> you<00:03:11.934> to<00:03:12.079> go<00:03:12.241> deeper<00:03:12.564> there<00:03:12.710> and<00:03:12.806> just<00:03:12.968> kind<00:03:13.081> of<00:03:13.533> the<00:03:13.630> genesis<00:03:14.340> of<00:03:15.067> the<00:03:15.229> company<00:03:15.971> and<00:03:16.294> the<00:03:16.375> problem<00:03:16.682> you're<00:03:16.779> trying<00:03:16.956> to<00:03:17.021> solve.

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Yeah,<00:03:19.023> I<00:03:19.040> mean,<00:03:19.266> it<00:03:19.346> really<00:03:19.605> comes<00:03:19.847> down<00:03:20.089> to<00:03:20.396> I<00:03:20.477> feel<00:03:20.638> like<00:03:20.800> I<00:03:20.816> was<00:03:21.042> lied<00:03:21.284> to.

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This<00:03:22.887> American<00:03:23.288> dream<00:03:23.690> that<00:03:24.011> my<00:03:24.397> parents<00:03:24.734> kind<00:03:24.911> of<00:03:25.040> painted<00:03:25.377> in<00:03:25.457> my<00:03:25.682> head<00:03:25.843> of<00:03:25.940> like,<00:03:26.164> hey,<00:03:26.663> you<00:03:27.225> get<00:03:27.386> good<00:03:27.530> grades,<00:03:28.012> you<00:03:28.109> work<00:03:28.350> really<00:03:28.575> hard,<00:03:28.912> you<00:03:28.992> go<00:03:29.153> to<00:03:29.233> a<00:03:29.314> good<00:03:29.474> school,<00:03:30.101> you<00:03:30.181> get<00:03:30.278> a<00:03:30.342> good<00:03:30.503> job,<00:03:30.856> and<00:03:30.985> then<00:03:31.145> like<00:03:31.322> this<00:03:31.499> American<00:03:31.868> dream<00:03:32.142> is<00:03:32.286> there.

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And<00:03:33.331> so<00:03:33.716> that<00:03:34.295> was<00:03:34.391> the<00:03:34.536> pursuit.

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That's<00:03:35.725> the<00:03:35.805> pursuit<00:03:36.207> for<00:03:36.303> most<00:03:36.544> people<00:03:36.930> coming<00:03:37.251> out<00:03:37.364> of<00:03:37.829> places<00:03:38.231> like<00:03:38.392> Pecos<00:03:39.677> where<00:03:40.079> you're<00:03:40.481> just<00:03:40.625> trying<00:03:40.963> to<00:03:41.188> reach<00:03:41.429> upward<00:03:41.605> mobility.

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But<00:03:43.276> going<00:03:43.517> through<00:03:43.630> that<00:03:43.855> process<00:03:44.722> and<00:03:46.024> my<00:03:46.185> parents<00:03:46.506> didn't<00:03:47.133> finish<00:03:47.374> high<00:03:47.486> school.

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So<00:03:48.160> the<00:03:48.380> financial<00:03:48.700> aid<00:03:48.960> process<00:03:49.300> of<00:03:49.520> applying<00:03:49.860> for<00:03:50.060> schools,<00:03:50.840> scholarships,<00:03:52.280> grants,<00:03:52.400> all<00:03:52.600> that<00:03:52.780> stuff<00:03:53.080> was<00:03:53.340> just<00:03:53.620> brand<00:03:53.920> new<00:03:54.000> to<00:03:54.200> us.

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And<00:03:54.520> we<00:03:54.800> didn't<00:03:55.500> know<00:03:55.640> what<00:03:55.780> we<00:03:55.800> didn't<00:03:56.020> know.

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And<00:03:56.960> so<00:03:57.160> I<00:03:57.460> had<00:03:58.100> to<00:03:58.260> finance<00:03:58.680> almost<00:03:58.920> every<00:03:59.320> penny<00:03:59.480> to<00:03:59.660> go<00:03:59.780> to<00:03:59.980> college.

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And<00:04:01.100> then<00:04:01.300> when<00:04:01.380> I<00:04:01.520> left,<00:04:02.020> I<00:04:02.080> had<00:04:02.260> over<00:04:02.460> $100,000<00:04:03.320> in<00:04:03.460> student<00:04:03.780> debt.

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And<00:04:05.340> moving—<00:04:06.640> and<00:04:06.641> I<00:04:06.720> went<00:04:06.840> to<00:04:06.980> undergrad<00:04:07.200> in<00:04:07.740> Indiana,<00:04:08.160> and<00:04:08.440> I<00:04:08.441> didn't<00:04:08.640> know<00:04:08.860> out-of-state<00:04:09.200> tuition<00:04:09.560> was<00:04:09.780> just<00:04:10.000> so<00:04:10.180> much<00:04:10.400> more<00:04:10.680> than<00:04:10.900> in-state.

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And<00:04:11.980> I<00:04:12.200> actually<00:04:12.380> didn't<00:04:13.300> even<00:04:13.480> apply<00:04:13.820> to<00:04:13.940> Texas<00:04:14.240> schools<00:04:14.560> because<00:04:14.660> I<00:04:14.820> wanted<00:04:14.980> to<00:04:15.140> get<00:04:15.220> away<00:04:15.620> and<00:04:15.880> just<00:04:16.060> experience<00:04:16.460> a<00:04:16.620> new<00:04:16.720> culture<00:04:17.040> for<00:04:17.220> a<00:04:17.500> little<00:04:17.501> bit.

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I<00:04:18.220> knew<00:04:18.365> I'd<00:04:18.462> be<00:04:18.607> back<00:04:19.091> to<00:04:19.252> Texas,<00:04:20.139> but<00:04:20.220> I<00:04:20.301> just<00:04:20.462> didn't<00:04:20.704> know<00:04:20.882> it<00:04:20.930> was<00:04:21.107> 3<00:04:21.349> times<00:04:22.172> as<00:04:22.333> expensive.

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But<00:04:24.779> this<00:04:24.988> idea<00:04:25.262> of<00:04:25.391> like,<00:04:25.552> hey,<00:04:25.713> you<00:04:25.809> go<00:04:25.970> do<00:04:26.131> these<00:04:26.373> things,<00:04:26.936> life<00:04:27.194> is<00:04:27.258> going<00:04:27.371> to<00:04:27.420> be<00:04:27.581> perfect.

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And<00:04:28.627> then<00:04:29.432> moving<00:04:29.658> to<00:04:29.738> Austin<00:04:30.624> and<00:04:31.026> having<00:04:31.284> an<00:04:31.348> entry-level<00:04:31.831> job,<00:04:32.958> my<00:04:33.136> student<00:04:33.377> loan<00:04:33.538> payments<00:04:33.844> were<00:04:33.876> over<00:04:34.070> $1,200<00:04:34.746> a<00:04:34.826> month<00:04:35.776> and<00:04:36.340> I<00:04:36.421> had<00:04:36.614> 3<00:04:36.775> or<00:04:36.839> 4<00:04:37.016> different<00:04:37.258> servicers<00:04:38.675> and<00:04:39.078> I<00:04:39.319> just<00:04:39.802> got<00:04:39.979> behind<00:04:40.285> on<00:04:40.318> my<00:04:40.527> loans.

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And<00:04:41.171> I<00:04:41.187> tried<00:04:41.364> to<00:04:41.429> call<00:04:41.590> my<00:04:41.686> school,<00:04:42.637> my<00:04:42.733> school<00:04:43.104> couldn't<00:04:43.281> help<00:04:43.410> me.

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They're<00:04:43.590> like,<00:04:43.753> call<00:04:43.933> your<00:04:44.031> servicer.

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And<00:04:44.817> I<00:04:44.899> would<00:04:44.997> call<00:04:45.111> my<00:04:45.242> servicer<00:04:45.717> and<00:04:45.766> my<00:04:45.831> servicer<00:04:46.126> was<00:04:46.224> like,<00:04:46.388> well,<00:04:46.535> we<00:04:46.633> can<00:04:46.731> help<00:04:46.895> you<00:04:46.960> with<00:04:47.108> these<00:04:47.157> loans,<00:04:47.239> but<00:04:47.353> we<00:04:47.402> don't<00:04:47.533> know<00:04:47.566> what<00:04:47.631> else<00:04:47.697> you<00:04:47.762> have.

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'Cause<00:04:49.092> we<00:04:49.188> don't<00:04:49.316> have<00:04:49.557> 'em.

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So<00:04:50.278> you're<00:04:50.375> kind<00:04:50.535> of<00:04:50.615> on<00:04:50.711> your<00:04:50.856> own<00:04:51.016> there.

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And<00:04:51.962> so<00:04:52.042> I<00:04:52.122> just<00:04:52.379> felt<00:04:52.603> like<00:04:52.700> the<00:04:52.796> system<00:04:53.181> really<00:04:53.421> failed<00:04:53.662> me.

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And<00:04:54.528> then<00:04:54.704> going<00:04:54.880> into<00:04:55.089> financial<00:04:55.329> advising<00:04:55.810> afterwards,<00:04:57.013> ironically,<00:04:57.975> that's<00:04:58.152> where<00:04:58.296> I<00:04:58.328> saw<00:04:59.050> it<00:04:59.114> was<00:04:59.434> impacting<00:04:59.899> everybody<00:05:00.236> around<00:05:00.541> me.

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Like<00:05:01.022> it<00:05:01.102> just<00:05:01.343> wasn't<00:05:01.599> me,<00:05:02.241> you<00:05:02.305> know,<00:05:02.385> student<00:05:02.577> loans<00:05:02.754> don't<00:05:02.914> discriminate.

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And<00:05:03.764> so<00:05:04.004> it's<00:05:04.806> really,<00:05:05.432> you<00:05:05.464> know,<00:05:05.768> this,<00:05:06.249> you<00:05:06.426> know,<00:05:07.195> cloud<00:05:07.532> that's<00:05:07.773> been<00:05:07.917> hanging<00:05:08.157> over<00:05:08.334> people's<00:05:08.639> head<00:05:08.831> over<00:05:08.975> the<00:05:09.055> last<00:05:09.296> 10,<00:05:09.536> 15<00:05:09.937> years<00:05:10.803> that<00:05:10.883> has<00:05:10.996> essentially<00:05:11.541> like<00:05:11.765> delayed<00:05:12.038> our<00:05:12.182> life<00:05:12.423> from<00:05:13.128> buying<00:05:13.385> homes,<00:05:13.722> starting<00:05:14.026> families,<00:05:14.491> investing,<00:05:15.053> all<00:05:15.085> the<00:05:15.149> things<00:05:15.293> that<00:05:15.389> we're<00:05:15.486> supposed<00:05:15.934> to<00:05:16.031> do<00:05:16.496> when<00:05:16.689> you<00:05:16.753> get<00:05:16.897> a<00:05:16.913> college<00:05:17.234> education<00:05:18.118> and<00:05:18.198> a<00:05:18.262> good<00:05:18.358> job.

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Yeah,<00:05:19.964> it<00:05:20.044> really<00:05:20.365> is<00:05:20.526> an<00:05:20.606> epidemic.

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I,<00:05:21.714> I<00:05:21.795> love<00:05:21.971> the<00:05:22.116> way<00:05:22.196> you<00:05:22.292> put<00:05:22.533> that<00:05:23.336> because,<00:05:24.203> you<00:05:24.235> know,<00:05:24.540> I'm<00:05:24.861> the<00:05:24.958> same<00:05:25.247> way.

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Like,<00:05:25.680> I<00:05:25.744> think<00:05:25.921> I<00:05:25.953> was<00:05:26.242> the<00:05:26.387> first<00:05:26.724> in<00:05:26.788> my<00:05:27.029> family<00:05:27.286> to<00:05:27.414> go,<00:05:27.671> to<00:05:27.816> go<00:05:27.912> to<00:05:28.057> college,<00:05:28.956> and<00:05:29.100> like,<00:05:29.261> you're<00:05:29.357> filling<00:05:29.598> out<00:05:29.694> like<00:05:29.903> the<00:05:29.999> FAFSAs<00:05:31.043> and<00:05:31.188> all<00:05:31.284> these<00:05:31.445> like<00:05:31.750> various,<00:05:33.034> uh,<00:05:33.452> grant<00:05:33.933> programs,<00:05:34.399> and<00:05:34.495> you<00:05:34.527> don't<00:05:34.736> know,<00:05:34.897> really<00:05:35.154> know.

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I<00:05:36.647> actually<00:05:36.984> didn't<00:05:37.482> even<00:05:37.691> really<00:05:38.028> know—<00:05:38.911> this<00:05:39.087> is<00:05:39.168> a<00:05:39.248> me<00:05:39.537> thing—<00:05:40.420> I<00:05:40.452> didn't<00:05:40.982> even<00:05:41.079> really<00:05:41.335> know<00:05:42.042> why<00:05:42.363> I<00:05:42.443> was<00:05:42.684> supposed<00:05:43.005> to<00:05:43.070> go<00:05:43.310> to<00:05:43.471> college.

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Like,<00:05:44.515> why?

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Like,<00:05:45.478> I<00:05:45.574> didn't<00:05:45.735> have<00:05:45.895> a<00:05:45.976> choice.

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I<00:05:46.634> didn't<00:05:46.779> have<00:05:46.939> a<00:05:47.019> choice.

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Like,<00:05:48.143> I<00:05:48.208> remember<00:05:48.946> I<00:05:49.171> got<00:05:49.348> into<00:05:49.589> an<00:05:49.669> Ivy<00:05:49.974> League<00:05:50.150> school,<00:05:51.355> and<00:05:51.596> when<00:05:51.740> I<00:05:51.756> showed<00:05:52.061> my<00:05:52.302> dad,<00:05:52.639> he<00:05:52.720> was<00:05:52.880> just<00:05:53.105> like,<00:05:53.346> cool.

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Like,<00:05:54.341> he—<00:05:54.550> like,<00:05:54.711> he's<00:05:54.791> like,<00:05:55.032> I<00:05:55.048> don't<00:05:55.208> care<00:05:55.513> where<00:05:55.674> you<00:05:55.770> go.

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You<00:05:56.236> could<00:05:56.413> go<00:05:56.637> to<00:05:56.975> this<00:05:57.135> school,<00:05:57.681> or<00:05:57.842> you<00:05:57.922> could<00:05:58.163> go<00:05:58.404> to,<00:05:58.660> like,<00:05:58.885> the<00:05:58.982> JC<00:05:59.544> down<00:05:59.704> the<00:05:59.849> road.

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I<00:06:00.668> don't<00:06:00.828> care,<00:06:01.294> but<00:06:01.374> you're<00:06:01.535> going<00:06:01.711> to<00:06:01.808> school.

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Like,<00:06:02.771> as<00:06:02.851> soon<00:06:03.076> as<00:06:03.221> you<00:06:03.317> graduate,<00:06:03.863> like,<00:06:03.959> you're<00:06:04.104> out<00:06:04.264> of<00:06:04.345> here,<00:06:04.601> and<00:06:04.698> you're<00:06:04.842> going<00:06:05.019> to<00:06:05.083> get<00:06:05.163> an<00:06:05.308> education.

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All<00:06:07.668> right,<00:06:08.133> I'm<00:06:08.374> going.

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And<00:06:09.336> then<00:06:09.640> getting<00:06:09.817> to<00:06:09.897> college,<00:06:10.314> it's<00:06:10.458> like,<00:06:11.260> you<00:06:11.340> want<00:06:11.469> to<00:06:11.501> go<00:06:11.645> sign<00:06:11.805> up<00:06:11.902> for<00:06:11.982> classes?

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Well,<00:06:13.409> go<00:06:13.585> to<00:06:13.730> this<00:06:13.970> office<00:06:14.788> and<00:06:14.932> then<00:06:15.093> sign<00:06:15.349> this<00:06:15.510> piece<00:06:15.686> of<00:06:15.814> paper,<00:06:16.953> and<00:06:17.033> then<00:06:17.194> now<00:06:17.370> you<00:06:17.434> can<00:06:17.594> go<00:06:17.691> sign<00:06:17.851> up<00:06:17.931> for<00:06:18.060> classes.

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And<00:06:18.749> not<00:06:19.038> realizing<00:06:19.679> that<00:06:19.856> I'm,<00:06:20.224> you<00:06:20.305> know,<00:06:20.417> signing<00:06:20.802> up<00:06:21.026> for<00:06:21.074> $10,000,<00:06:21.507> $15,000<00:06:22.726> every<00:06:22.903> semester,<00:06:23.752> you<00:06:23.849> know,<00:06:24.009> to,<00:06:24.634> to<00:06:24.731> take<00:06:24.955> these<00:06:25.116> classes.

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And<00:06:26.398> yeah,<00:06:26.559> the<00:06:26.591> numbers<00:06:27.200> they<00:06:27.377> let<00:06:27.601> you<00:06:27.778> borrow,<00:06:28.740> and<00:06:28.900> they<00:06:28.996> just—<00:06:29.461> it's<00:06:30.183> really<00:06:30.728> easy.

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That,<00:06:31.771> that's<00:06:31.947> another<00:06:32.492> kind<00:06:32.669> of<00:06:32.749> crazy<00:06:33.070> thing<00:06:33.230> about<00:06:33.470> it<00:06:33.615> is<00:06:34.513> If<00:06:34.657> you—<00:06:35.074> it's<00:06:35.218> pretty<00:06:35.555> easy<00:06:35.731> to<00:06:35.875> get<00:06:36.036> that<00:06:36.196> money.

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Um,<00:06:37.559> and<00:06:37.703> then<00:06:37.863> the<00:06:37.959> hard<00:06:38.280> part<00:06:38.504> is<00:06:38.761> like,<00:06:39.065> how<00:06:39.130> are<00:06:39.162> you<00:06:39.226> going<00:06:39.338> to<00:06:39.402> pay<00:06:39.482> it<00:06:39.562> back?

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Yeah,<00:06:41.470> well,<00:06:41.550> you<00:06:41.646> don't<00:06:41.807> realize<00:06:42.143> it.

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I<00:06:42.304> mean,<00:06:42.448> you're<00:06:42.592> 18,<00:06:42.849> 19<00:06:43.153> years<00:06:43.394> old,<00:06:43.570> you're<00:06:43.714> just<00:06:43.875> happy<00:06:44.131> to<00:06:44.276> be<00:06:44.452> there.

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You<00:06:45.013> want<00:06:45.173> to<00:06:45.205> have<00:06:45.350> a<00:06:45.414> good<00:06:45.574> time,<00:06:46.055> learn<00:06:46.295> a<00:06:46.311> little<00:06:46.536> bit,<00:06:46.776> meet<00:06:46.937> some<00:06:47.081> friends.

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Like,<00:06:47.722> you're<00:06:47.818> not<00:06:48.043> realizing<00:06:48.540> the<00:06:48.620> long-term<00:06:49.021> impact,<00:06:49.566> you<00:06:49.598> know,<00:06:50.143> pulling<00:06:50.367> out<00:06:50.447> all<00:06:50.544> that<00:06:50.704> debt's<00:06:50.928> gonna<00:06:51.089> have.

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Oh<00:06:51.906> yeah,<00:06:52.051> it's<00:06:52.227> crazy.

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So,<00:06:53.253> um,<00:06:54.471> so<00:06:55.177> tell<00:06:55.353> me<00:06:55.433> about<00:06:55.674> Chipper.

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How<00:06:56.315> did<00:06:56.475> you,<00:06:57.020> uh,<00:06:57.196> start<00:06:57.581> that?

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Well,<00:07:00.484> Let<00:07:00.564> me,<00:07:00.805> let<00:07:00.885> me<00:07:00.949> start<00:07:01.126> before<00:07:01.447> Chipper.

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So<00:07:02.073> previous<00:07:02.330> to<00:07:02.475> Chipper,<00:07:02.956> I<00:07:03.679> launched<00:07:03.936> a<00:07:04.000> company<00:07:04.401> called<00:07:04.674> Student<00:07:04.963> Loan<00:07:05.140> Genius.

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It's<00:07:05.782> now<00:07:06.007> called<00:07:06.264> Vault,<00:07:07.227> where<00:07:07.388> we<00:07:07.532> pioneered<00:07:08.030> the<00:07:08.126> student<00:07:08.415> loan<00:07:08.576> benefit.

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So<00:07:09.395> if<00:07:09.491> you've<00:07:09.700> ever<00:07:09.796> heard<00:07:09.957> of<00:07:10.037> a<00:07:10.117> company<00:07:10.599> paying<00:07:10.840> down<00:07:11.081> debt<00:07:11.241> for<00:07:11.322> employees,<00:07:12.510> you<00:07:12.542> know,<00:07:12.670> we<00:07:12.767> were<00:07:12.863> the<00:07:12.991> first<00:07:13.168> company<00:07:13.489> in<00:07:13.634> that<00:07:13.810> space.

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Um,<00:07:15.239> and<00:07:15.336> it<00:07:15.400> was<00:07:15.657> an<00:07:15.737> incredible<00:07:16.122> journey.

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Built<00:07:17.037> it<00:07:17.102> over<00:07:17.262> 4<00:07:17.648> years,<00:07:18.226> had<00:07:18.466> incredible<00:07:18.852> investors<00:07:19.510> like<00:07:19.895> Prudential,<00:07:20.859> John<00:07:21.035> Hancock,<00:07:21.517> some<00:07:21.613> of<00:07:21.678> the<00:07:21.758> biggest<00:07:22.079> financial<00:07:23.026> firms<00:07:23.219> in<00:07:23.283> the<00:07:23.363> country.

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And<00:07:24.487> then,<00:07:24.953> you<00:07:25.049> know,<00:07:25.130> working<00:07:25.386> with<00:07:25.531> amazing<00:07:25.852> companies<00:07:26.237> like<00:07:26.494> New<00:07:26.559> York<00:07:26.815> Life,<00:07:27.201> Pinterest,<00:07:27.779> like<00:07:28.084> all<00:07:28.116> these<00:07:29.143> amazing<00:07:29.448> organizations<00:07:30.122> helping<00:07:30.363> their<00:07:30.492> employees<00:07:30.893> pay<00:07:30.989> down<00:07:31.214> debt.

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So<00:07:31.808> that<00:07:31.920> was<00:07:32.016> my<00:07:32.113> first<00:07:32.498> big<00:07:32.659> swing<00:07:33.076> at<00:07:33.172> solving<00:07:33.477> the<00:07:33.557> student<00:07:33.782> loan<00:07:33.959> epidemic.

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And<00:07:35.243> it<00:07:35.403> really<00:07:35.644> originated<00:07:36.286> from<00:07:36.751> one<00:07:36.864> of<00:07:36.928> my<00:07:37.329> financial<00:07:37.795> advising<00:07:38.132> clients<00:07:38.838> asking<00:07:39.175> me,<00:07:39.336> like,<00:07:39.897> I<00:07:39.962> have<00:07:40.058> all<00:07:40.138> this<00:07:40.299> money<00:07:40.443> in<00:07:40.491> my<00:07:40.700> 401.

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It<00:07:41.727> says<00:07:41.904> I<00:07:41.984> can<00:07:42.209> use<00:07:42.466> it<00:07:42.626> to<00:07:42.931> pay<00:07:43.027> down<00:07:43.429> educational<00:07:43.910> expenses.

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I<00:07:45.018> want<00:07:45.098> to<00:07:45.130> pay<00:07:45.274> off<00:07:45.355> my<00:07:45.451> student<00:07:45.708> loans<00:07:45.981> with<00:07:46.157> it.

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And<00:07:46.815> I<00:07:46.864> was<00:07:46.960> like,<00:07:47.120> that's<00:07:47.425> genius.

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But<00:07:48.629> the<00:07:48.790> IRS<00:07:49.351> doesn't<00:07:49.624> see<00:07:49.945> student<00:07:50.331> loans<00:07:50.635> as<00:07:50.748> an<00:07:50.892> educational<00:07:51.454> expense<00:07:52.401> when<00:07:52.497> it<00:07:52.562> comes<00:07:52.770> to<00:07:52.899> 401s.

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Don't<00:07:54.327> ask<00:07:54.504> me<00:07:54.584> why.

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Those<00:07:55.290> are<00:07:55.370> the<00:07:55.531> rules.

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They<00:07:56.013> make<00:07:56.205> no<00:07:56.366> sense.

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But<00:07:57.617> that's<00:07:57.794> where<00:07:57.874> the<00:07:58.019> light<00:07:58.195> bulb<00:07:58.420> went<00:07:58.580> off<00:07:58.757> of<00:07:58.901> like,<00:07:59.142> what<00:07:59.254> if<00:07:59.383> we<00:07:59.479> could<00:07:59.784> get<00:08:00.121> companies<00:08:01.084> that<00:08:01.228> are<00:08:01.260> already<00:08:01.485> contributing<00:08:01.966> to<00:08:02.127> people's<00:08:02.512> retirements<00:08:03.330> and<00:08:03.731> other<00:08:03.892> financial<00:08:04.293> goals,<00:08:05.176> but<00:08:05.400> do<00:08:05.496> it<00:08:05.577> towards<00:08:05.817> student<00:08:06.122> loans?

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And<00:08:07.278> so,<00:08:07.823> you<00:08:07.920> know,<00:08:08.144> that's<00:08:08.449> what<00:08:08.545> kicked<00:08:08.850> off<00:08:09.011> Student<00:08:09.203> Loan<00:08:09.428> Genius.

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And<00:08:11.578> after<00:08:11.771> leaving<00:08:11.995> the<00:08:12.140> company<00:08:12.493> there,<00:08:13.680> you<00:08:13.777> know,<00:08:14.419> I<00:08:14.547> knew<00:08:14.595> we<00:08:14.707> were<00:08:14.868> making<00:08:15.109> an<00:08:15.205> impact.

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We<00:08:15.847> had<00:08:16.103> about<00:08:16.328> 5%<00:08:16.810> of<00:08:17.050> companies<00:08:17.387> in<00:08:17.451> the<00:08:17.532> country<00:08:17.933> offering<00:08:18.270> the<00:08:18.398> benefit,<00:08:19.698> but<00:08:19.939> student<00:08:20.163> loans<00:08:20.404> went<00:08:20.565> from<00:08:20.661> like<00:08:20.821> a<00:08:21.527> trillion<00:08:21.848> dollars<00:08:22.105> when<00:08:22.201> I<00:08:22.265> started<00:08:22.522> that<00:08:22.667> company<00:08:23.068> to<00:08:23.148> like<00:08:23.309> $1.6<00:08:24.608> So<00:08:24.689> I<00:08:24.721> was<00:08:24.817> like,<00:08:24.977> all<00:08:25.009> right,<00:08:25.395> like<00:08:26.101> I<00:08:26.261> want<00:08:26.357> to<00:08:26.438> take<00:08:26.598> another<00:08:26.839> big<00:08:26.999> swing<00:08:27.336> at<00:08:27.416> solving<00:08:27.817> this<00:08:28.042> problem<00:08:29.005> and<00:08:29.165> I<00:08:29.246> wanted<00:08:29.422> to<00:08:29.486> go<00:08:29.647> directly<00:08:30.032> to<00:08:30.112> consumers.

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I<00:08:30.786> didn't<00:08:30.946> want<00:08:31.075> to<00:08:31.155> have<00:08:31.348> to<00:08:31.476> go<00:08:31.668> sell<00:08:32.230> to<00:08:32.374> an<00:08:32.439> organization<00:08:33.722> or,<00:08:34.059> you<00:08:34.139> know,<00:08:34.525> have<00:08:34.781> consumers<00:08:35.584> need<00:08:35.744> to<00:08:35.969> work<00:08:36.161> for<00:08:36.306> one<00:08:36.466> of<00:08:36.546> these<00:08:37.012> employers<00:08:37.413> who<00:08:37.493> could<00:08:37.589> afford<00:08:37.894> to<00:08:37.974> do<00:08:38.151> this<00:08:38.729> to<00:08:38.857> get<00:08:39.017> the<00:08:39.098> help<00:08:39.258> they<00:08:39.435> needed.

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And<00:08:40.333> so<00:08:40.558> that's<00:08:41.280> where<00:08:41.440> Chipper<00:08:41.745> came<00:08:42.002> in.

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And<00:08:43.189> Chipper,<00:08:43.510> we<00:08:43.606> launched<00:08:43.927> in<00:08:44.008> 2018.

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It<00:08:45.773> was<00:08:46.013> kind<00:08:46.238> of<00:08:46.318> at<00:08:46.398> the<00:08:46.495> heyday<00:08:46.976> of<00:08:47.120> when<00:08:47.377> Acorns<00:08:48.019> and<00:08:48.244> Digit<00:08:48.581> and<00:08:48.661> all<00:08:48.741> these<00:08:48.902> incredible<00:08:50.089> finance<00:08:50.651> apps<00:08:51.068> were<00:08:51.549> getting<00:08:51.790> their<00:08:51.886> start.

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Where<00:08:53.153> they<00:08:53.250> were<00:08:53.458> using<00:08:53.715> micro<00:08:54.036> investing<00:08:54.661> to<00:08:54.822> just<00:08:54.918> get<00:08:55.078> people<00:08:55.335> to<00:08:55.399> start<00:08:55.624> saving<00:08:56.105> and<00:08:56.185> investing,<00:08:56.907> you<00:08:56.939> know,<00:08:57.549> with<00:08:57.709> roundups<00:08:58.351> or<00:08:58.527> with<00:08:58.608> small<00:08:58.912> increments<00:08:59.329> each<00:08:59.490> week.

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And<00:09:00.356> I<00:09:00.372> was<00:09:00.452> like,<00:09:00.677> what<00:09:00.789> if<00:09:00.869> we<00:09:01.014> could<00:09:01.174> do<00:09:01.319> the<00:09:01.351> same<00:09:01.655> thing<00:09:01.896> but<00:09:02.137> to<00:09:02.281> chip<00:09:02.522> away<00:09:02.698> student<00:09:03.003> loan<00:09:03.179> debt?

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So<00:09:04.062> hence<00:09:04.286> the<00:09:04.366> name,<00:09:04.768> you<00:09:04.800> know,<00:09:04.944> Chipper.

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And<00:09:06.564> so<00:09:06.853> we<00:09:06.949> launched<00:09:07.190> the<00:09:07.270> company<00:09:07.912> in<00:09:07.992> 2018.

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We<00:09:10.141> were<00:09:10.222> doing<00:09:10.542> awesome,<00:09:10.799> got<00:09:11.024> featured<00:09:11.345> in<00:09:11.425> the<00:09:11.585> App<00:09:11.746> Store,<00:09:12.307> really<00:09:12.484> started<00:09:12.708> to<00:09:12.804> blow<00:09:13.109> up.

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But<00:09:15.130> we<00:09:15.692> got<00:09:15.932> lucky.

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We<00:09:16.654> put<00:09:16.879> a<00:09:16.895> chatbot<00:09:17.312> inside<00:09:17.553> of<00:09:17.697> the<00:09:17.841> app<00:09:18.499> for<00:09:18.660> tech<00:09:18.836> support.

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And<00:09:20.104> we<00:09:20.200> started<00:09:20.441> getting<00:09:20.746> all<00:09:20.907> these<00:09:21.132> questions<00:09:21.629> in<00:09:22.336> about<00:09:23.797> refinancing,<00:09:25.017> student<00:09:25.306> loan<00:09:25.467> forgiveness,<00:09:26.446> all<00:09:26.623> these<00:09:26.832> things<00:09:26.944> that<00:09:27.072> we<00:09:27.249> didn't<00:09:27.570> do.

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And<00:09:28.935> so<00:09:29.176> that's<00:09:29.882> where<00:09:30.059> the<00:09:30.139> light<00:09:30.300> bulb<00:09:30.460> went<00:09:30.621> off<00:09:30.701> for<00:09:30.926> us<00:09:31.103> of<00:09:31.183> like,<00:09:31.488> hey,<00:09:32.162> it<00:09:32.291> looks<00:09:32.467> like<00:09:32.628> people<00:09:33.094> really<00:09:33.270> need<00:09:33.495> help<00:09:33.897> on<00:09:34.057> managing<00:09:34.458> their<00:09:34.619> debt,<00:09:35.020> on<00:09:35.181> trying<00:09:35.550> to<00:09:35.599> figure<00:09:35.823> out<00:09:36.000> what<00:09:36.225> to<00:09:36.321> do<00:09:36.562> before<00:09:36.899> they<00:09:37.044> want<00:09:37.172> to<00:09:37.204> start<00:09:37.445> paying<00:09:37.686> off<00:09:37.766> faster.

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And<00:09:38.906> so<00:09:39.035> we<00:09:39.131> pivoted<00:09:39.452> the<00:09:39.597> company<00:09:40.640> and<00:09:40.817> the<00:09:40.897> timing<00:09:41.299> was<00:09:41.475> impeccable.

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We<00:09:42.744> pivoted<00:09:42.985> the<00:09:43.065> company<00:09:43.322> at<00:09:43.354> the<00:09:43.386> beginning<00:09:43.707> of<00:09:43.852> 2020.

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And<00:09:45.811> started<00:09:46.116> focusing<00:09:46.758> on<00:09:46.902> what<00:09:46.999> we<00:09:47.143> do<00:09:47.256> today.

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And<00:09:48.267> so<00:09:48.685> our<00:09:49.247> core<00:09:49.487> focus<00:09:49.728> is<00:09:49.889> we<00:09:50.033> help<00:09:50.274> people<00:09:51.093> figure<00:09:51.318> out<00:09:51.800> what's<00:09:52.040> the<00:09:52.137> best<00:09:52.362> repayments<00:09:52.859> and<00:09:52.940> forgiveness<00:09:53.341> program<00:09:54.208> that<00:09:54.304> they're<00:09:54.449> eligible<00:09:54.850> for.

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And<00:09:55.814> we<00:09:56.793> call<00:09:56.954> it<00:09:57.098> automatic<00:09:57.452> enrollment.

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We<00:09:58.078> help<00:09:58.254> them<00:09:58.399> actually<00:09:58.720> get<00:09:58.881> into<00:09:59.105> those<00:09:59.346> programs<00:10:00.470> with<00:10:00.583> a<00:10:00.631> couple<00:10:00.856> of<00:10:00.952> clicks.

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And<00:10:02.959> pandemic<00:10:03.441> hits<00:10:03.633> in<00:10:03.682> March<00:10:03.922> of<00:10:03.954> 2020,<00:10:04.741> no<00:10:04.838> one's<00:10:05.046> paying<00:10:05.223> student<00:10:05.544> loans.

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And<00:10:06.106> so<00:10:06.331> our<00:10:06.572> pivot<00:10:06.909> was<00:10:07.134> just<00:10:07.872> the<00:10:08.033> perfect<00:10:08.338> timing.

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You<00:10:09.237> can't<00:10:09.462> write<00:10:09.574> a<00:10:09.639> better<00:10:09.799> story.

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Yeah.

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How<00:10:10.940> did<00:10:11.106> COVID<00:10:11.456> affect<00:10:11.773> your<00:10:11.923> business?

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I<00:10:13.859> mean,<00:10:15.860> the<00:10:16.005> pivot,<00:10:16.763> the<00:10:16.892> pivot<00:10:17.295> was<00:10:18.021> of<00:10:18.183> going<00:10:18.441> to<00:10:18.586> more<00:10:18.779> of<00:10:18.860> a<00:10:18.989> management<00:10:19.634> part<00:10:20.054> of<00:10:20.151> student<00:10:20.457> loans.

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Uh,<00:10:21.902> you<00:10:21.999> know,<00:10:22.288> I<00:10:22.368> think<00:10:22.465> we<00:10:22.609> would<00:10:22.706> have<00:10:22.802> focused<00:10:23.107> just<00:10:23.348> on<00:10:23.429> chipping<00:10:23.734> away.

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We<00:10:23.991> would<00:10:24.088> have<00:10:24.168> died.

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But<00:10:25.180> because<00:10:25.502> we<00:10:25.598> started<00:10:25.823> to<00:10:25.984> focus<00:10:26.385> on,<00:10:26.787> on<00:10:26.948> public<00:10:27.205> service<00:10:27.510> loan<00:10:27.671> forgiveness<00:10:28.169> and<00:10:28.233> helping<00:10:28.554> people<00:10:28.956> optimize<00:10:29.454> their<00:10:29.679> debt,<00:10:30.483> um,<00:10:30.804> that<00:10:31.061> gave<00:10:31.222> us<00:10:31.449> life<00:10:32.015> and<00:10:32.112> we<00:10:32.193> were<00:10:32.339> able<00:10:32.517> to<00:10:32.598> find<00:10:33.488> a<00:10:33.650> big<00:10:33.877> niche<00:10:34.055> of<00:10:34.201> users,<00:10:34.929> you<00:10:34.961> know,<00:10:35.431> and<00:10:35.512> that,<00:10:35.755> that<00:10:35.900> were<00:10:35.998> teachers,<00:10:36.564> nurses,<00:10:37.455> social<00:10:37.794> workers,<00:10:38.183> people<00:10:38.491> who<00:10:38.588> qualify<00:10:39.057> for<00:10:39.154> these<00:10:39.381> programs.

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That<00:10:40.532> still<00:10:40.743> had<00:10:40.905> this<00:10:41.148> debt<00:10:41.488> that<00:10:41.828> even<00:10:41.958> though<00:10:42.055> they<00:10:42.136> didn't<00:10:42.363> need<00:10:42.460> to<00:10:42.622> pay,<00:10:43.271> they<00:10:43.595> wanted<00:10:43.838> to<00:10:44.000> apply<00:10:44.405> for<00:10:44.648> forgiveness.

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So<00:10:45.312> as<00:10:45.393> soon<00:10:45.539> as<00:10:45.620> payments<00:10:45.928> came<00:10:46.106> back,<00:10:46.819> they<00:10:46.852> could<00:10:46.997> have<00:10:47.160> it<00:10:47.224> all<00:10:47.322> wiped<00:10:47.581> away<00:10:47.953> like<00:10:48.213> they<00:10:48.456> were<00:10:48.537> promised.

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But<00:10:51.682> as<00:10:52.812> payments<00:10:53.941> kept<00:10:54.183> getting<00:10:54.425> extended,<00:10:55.086> we're<00:10:55.635> on<00:10:55.877> our<00:10:56.070> 9th<00:10:56.538> extension<00:10:57.006> now.

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So<00:10:57.829> it's<00:10:57.990> been—<00:10:58.474> this<00:10:58.780> month<00:10:59.119> has<00:10:59.297> been<00:10:59.668> 3<00:10:59.990> years<00:11:00.571> of<00:11:00.620> people<00:11:00.845> not<00:11:01.120> having<00:11:01.362> to<00:11:01.426> make<00:11:01.620> a<00:11:01.636> student<00:11:02.007> loan<00:11:02.169> payment.

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And<00:11:03.153> somehow<00:11:03.798> through<00:11:03.895> our<00:11:04.121> grits<00:11:04.750> and<00:11:05.799> just<00:11:06.041> finding<00:11:06.364> the<00:11:06.444> right<00:11:06.703> pockets<00:11:07.106> of<00:11:07.251> users,<00:11:07.590> we've<00:11:07.751> been<00:11:07.897> able<00:11:08.058> to<00:11:08.139> continue<00:11:08.316> to<00:11:08.381> grow<00:11:08.429> from<00:11:08.590> 0<00:11:08.671> to<00:11:08.784> over<00:11:08.865> 150,000<00:11:09.946> users.

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But<00:11:13.091> it's<00:11:13.268> been<00:11:13.429> tough.

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It's<00:11:14.138> really<00:11:14.316> been<00:11:14.477> tough,<00:11:14.783> you<00:11:14.863> know,<00:11:14.944> especially<00:11:15.282> with<00:11:15.444> the<00:11:15.524> VC<00:11:15.830> market,<00:11:16.330> you<00:11:16.427> know,<00:11:16.572> that's<00:11:16.894> going<00:11:17.119> on<00:11:17.232> right<00:11:17.458> now.

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And<00:11:18.006> yeah,<00:11:18.086> and,<00:11:19.214> you<00:11:19.311> know,<00:11:19.956> you<00:11:20.036> know,<00:11:20.359> we<00:11:20.504> raised<00:11:20.761> a<00:11:20.778> nice<00:11:20.939> seed<00:11:21.164> round<00:11:21.406> last<00:11:21.712> year.

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And<00:11:22.115> so<00:11:22.196> it's<00:11:22.260> like<00:11:22.520> trying<00:11:22.698> to<00:11:22.762> make<00:11:22.941> that<00:11:23.183> last.

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Like,<00:11:23.685> it's,<00:11:23.993> it's,<00:11:24.382> it's<00:11:24.560> been<00:11:24.657> a<00:11:24.722> grind.

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It's<00:11:25.434> been<00:11:25.515> a<00:11:25.596> grind<00:11:25.855> for<00:11:25.936> sure.

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Yeah.

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Let<00:11:26.697> me<00:11:26.892> ask<00:11:27.054> you<00:11:27.135> this,<00:11:27.896> since<00:11:28.139> you<00:11:28.268> brought<00:11:28.446> it<00:11:28.511> up,<00:11:28.867> how<00:11:29.013> did<00:11:29.175> the<00:11:29.272> Silicon<00:11:29.725> Valley<00:11:29.985> Bank<00:11:30.211> stuff<00:11:30.487> affect<00:11:30.924> you?

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So<00:11:34.493> luckily<00:11:35.885> we<00:11:36.046> weren't<00:11:36.370> impacted<00:11:36.855> directly<00:11:37.502> by<00:11:37.664> the<00:11:37.826> SVB<00:11:38.877> situation.

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Our<00:11:41.618> payroll<00:11:42.019> provider<00:11:43.047> uses<00:11:44.010> their<00:11:44.171> pipes,<00:11:44.508> so<00:11:44.893> I<00:11:45.006> think<00:11:45.214> our<00:11:45.375> payroll<00:11:45.616> was<00:11:45.728> delayed<00:11:46.097> 1<00:11:46.210> or<00:11:46.338> 2<00:11:46.515> days,<00:11:47.317> but<00:11:48.521> we<00:11:48.762> bank<00:11:49.003> with<00:11:49.404> another<00:11:49.790> provider,<00:11:50.223> so<00:11:50.592> luckily<00:11:50.929> we<00:11:51.090> were<00:11:51.234> not<00:11:51.588> impacted.

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But<00:11:52.711> I<00:11:52.840> will<00:11:52.952> say<00:11:53.482> I<00:11:53.723> felt<00:11:53.980> like<00:11:54.221> a<00:11:54.365> therapist<00:11:56.693> the<00:11:56.789> entire<00:11:57.191> week,<00:11:57.576> that<00:11:57.688> entire<00:11:58.074> weekend,<00:11:58.700> because<00:11:59.037> so<00:11:59.262> many<00:11:59.502> of<00:11:59.583> our<00:11:59.823> friends<00:12:00.321> that<00:12:00.466> are<00:12:00.562> founders<00:12:01.044> that<00:12:01.188> had<00:12:01.429> their<00:12:01.541> money<00:12:01.766> tied<00:12:02.071> up.

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And<00:12:02.858> then<00:12:02.970> it<00:12:03.034> was<00:12:03.371> interesting<00:12:03.933> also<00:12:04.158> being<00:12:04.319> here<00:12:04.495> in<00:12:04.720> Austin<00:12:05.137> during<00:12:05.378> South<00:12:05.539> by<00:12:05.699> Southwest.

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So,<00:12:07.470> you<00:12:07.567> know,<00:12:07.712> you<00:12:07.809> see<00:12:08.035> people<00:12:08.277> at<00:12:08.358> the<00:12:08.439> happy<00:12:08.761> hours<00:12:08.939> and<00:12:09.084> the<00:12:09.181> events,<00:12:09.649> you<00:12:09.681> know,<00:12:10.246> smiling,<00:12:10.875> like<00:12:11.101> trying<00:12:11.230> to<00:12:11.295> have<00:12:11.440> a<00:12:11.504> good<00:12:11.601> time,<00:12:12.004> but<00:12:12.101> then<00:12:12.247> turning<00:12:12.569> away<00:12:12.795> really<00:12:13.037> quick<00:12:13.360> and,<00:12:13.618> you<00:12:13.699> know,<00:12:14.102> you<00:12:14.199> know,<00:12:14.360> they're<00:12:14.570> dealing<00:12:14.812> with<00:12:14.877> the<00:12:14.925> situation<00:12:15.474> of<00:12:15.554> like,<00:12:15.780> where's<00:12:15.893> our<00:12:15.974> money?

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Are<00:12:16.806> we<00:12:16.839> going<00:12:16.935> to<00:12:16.984> get<00:12:17.129> it<00:12:17.226> back?

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Like,<00:12:17.548> what's<00:12:17.774> going<00:12:18.097> on?

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And<00:12:18.855> so<00:12:18.936> it<00:12:18.968> was<00:12:19.065> really<00:12:19.307> just<00:12:19.484> being,<00:12:19.871> you<00:12:19.968> know,<00:12:20.758> a,<00:12:21.807> you<00:12:21.904> know,<00:12:23.904> a<00:12:23.985> mentor,<00:12:25.033> just<00:12:25.275> a,<00:12:25.598> you<00:12:25.630> know,<00:12:25.775> an<00:12:25.937> ear<00:12:26.178> for<00:12:26.485> a<00:12:26.550> lot<00:12:26.630> of<00:12:26.678> founders<00:12:27.129> who<00:12:27.161> were<00:12:27.290> actually,<00:12:27.949> you<00:12:27.982> know,<00:12:28.175> dealing<00:12:28.416> with<00:12:28.593> it.

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It<00:12:29.060> was<00:12:29.220> pretty<00:12:29.397> scary.

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It<00:12:30.379> was<00:12:30.524> a<00:12:30.604> tough,<00:12:31.183> tough<00:12:31.393> couple<00:12:31.586> of<00:12:31.650> days<00:12:32.036> for<00:12:32.374> founders<00:12:32.680> that<00:12:32.776> were<00:12:32.921> directly<00:12:33.259> impacted.

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Yeah,<00:12:34.849> man,<00:12:34.961> it<00:12:34.993> was<00:12:35.186> a<00:12:35.331> crazy<00:12:35.973> time.

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That<00:12:36.535> whole,<00:12:36.856> that<00:12:37.017> whole<00:12:37.193> weekend<00:12:37.579> was<00:12:37.755> wild.

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And<00:12:38.879> then<00:12:39.040> like<00:12:39.265> you<00:12:39.361> get<00:12:39.521> to<00:12:39.586> Monday,<00:12:39.923> it's<00:12:40.067> like,<00:12:40.244> oh,<00:12:40.629> you're<00:12:40.726> all<00:12:40.806> right,<00:12:42.090> that<00:12:42.251> was<00:12:42.572> weird.

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It's<00:12:43.198> all<00:12:43.375> back.

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It<00:12:44.194> was<00:12:44.258> like<00:12:44.403> a<00:12:44.419> fire<00:12:44.756> drill<00:12:44.981> almost,<00:12:45.446> right?

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Yeah,<00:12:46.410> it<00:12:46.667> was<00:12:46.988> crazy.

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Um,<00:12:48.979> I,<00:12:49.300> I<00:12:49.396> want<00:12:49.557> to<00:12:49.621> touch<00:12:49.782> on<00:12:49.862> something<00:12:50.119> that<00:12:50.504> you<00:12:50.536> mentioned<00:12:50.841> previously<00:12:51.628> around,<00:12:52.431> um,<00:12:52.848> like<00:12:53.089> the<00:12:53.234> feds<00:12:53.571> have<00:12:53.812> like<00:12:54.069> made<00:12:54.358> it<00:12:54.534> so<00:12:55.979> no<00:12:56.140> one<00:12:56.285> has<00:12:56.461> to<00:12:56.622> pay<00:12:56.847> back<00:12:57.039> student<00:12:57.457> loans<00:12:57.730> right<00:12:57.826> now.

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Am<00:12:58.147> I<00:12:58.227> right<00:12:58.404> about<00:12:58.629> that?

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Federal<00:13:00.540> loans,<00:13:00.958> which<00:13:01.135> is,<00:13:01.505> you<00:13:01.537> know,<00:13:01.681> it's<00:13:02.083> 90,<00:13:02.710> 95,<00:13:03.224> 96%<00:13:03.770> of<00:13:04.076> the<00:13:04.172> bulk<00:13:04.349> of<00:13:04.429> student<00:13:04.718> loans.

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So<00:13:05.297> nobody<00:13:05.602> has<00:13:05.731> to<00:13:05.827> make<00:13:05.956> a<00:13:06.020> payment,<00:13:06.566> and<00:13:06.647> also<00:13:06.984> interest<00:13:07.482> is<00:13:07.562> not<00:13:07.723> accumulating,<00:13:09.153> which<00:13:09.314> is<00:13:09.459> the,<00:13:10.198> uh,<00:13:10.760> what's<00:13:11.146> really<00:13:11.290> made<00:13:11.499> student<00:13:11.676> loans<00:13:11.965> balloon<00:13:12.447> over<00:13:12.608> the<00:13:12.672> last<00:13:13.010> 10,<00:13:13.154> 15<00:13:13.476> years.

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So<00:13:14.440> how<00:13:14.697> long<00:13:15.018> does<00:13:15.243> that<00:13:15.500> go<00:13:15.661> on?

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Like,<00:13:16.240> is,<00:13:16.545> is<00:13:16.722> that<00:13:16.882> sustainable?

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What's—.

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I'm<00:13:18.570> not,<00:13:19.052> I'm<00:13:19.260> not<00:13:19.823> going<00:13:20.064> to<00:13:20.225> predict<00:13:20.562> anything<00:13:20.867> anymore.

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I've,<00:13:21.912> I've<00:13:22.073> predicted<00:13:23.615> payments<00:13:23.936> resuming<00:13:24.499> for<00:13:24.595> the<00:13:24.724> last<00:13:25.110> you<00:13:25.238> know,<00:13:25.928> year<00:13:26.040> and<00:13:26.120> a<00:13:26.168> half,<00:13:26.441> 2<00:13:26.730> years,<00:13:28.591> and<00:13:28.671> I've<00:13:28.816> been<00:13:28.976> wrong<00:13:29.618> like<00:13:30.115> every<00:13:30.340> single<00:13:30.596> time.

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But<00:13:32.265> it's<00:13:32.361> good.

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Like,<00:13:33.019> it's<00:13:33.324> what's<00:13:33.564> needed<00:13:33.741> right<00:13:33.885> now<00:13:34.046> for<00:13:34.286> consumers,<00:13:35.089> for<00:13:35.313> people,<00:13:35.955> you<00:13:36.035> know,<00:13:36.131> with<00:13:36.276> student<00:13:36.613> debt,<00:13:36.934> especially<00:13:37.238> with<00:13:37.351> inflation,<00:13:38.377> the<00:13:38.522> cost<00:13:38.795> of<00:13:38.875> expenses<00:13:39.356> going<00:13:39.725> up,<00:13:40.928> all<00:13:40.960> the<00:13:41.105> other<00:13:41.249> things<00:13:41.426> we're<00:13:41.522> dealing<00:13:41.747> with<00:13:41.907> in<00:13:41.971> the<00:13:42.051> workforce.

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Like,<00:13:43.672> it's<00:13:43.832> what's<00:13:44.073> needed<00:13:44.314> right<00:13:44.490> now.

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What<00:13:47.602> it<00:13:47.843> feels<00:13:48.100> like<00:13:48.244> what's<00:13:48.469> going<00:13:48.533> to<00:13:48.629> happen<00:13:49.111> is<00:13:50.234> in<00:13:50.394> February,<00:13:51.533> February<00:13:51.774> 28th,<00:13:52.335> the<00:13:52.416> Supreme<00:13:52.881> Court<00:13:53.523> heard<00:13:53.859> a<00:13:54.020> case<00:13:55.223> regarding<00:13:56.892> debt<00:13:57.053> relief<00:13:57.630> that<00:13:57.871> President<00:13:58.192> Biden<00:13:58.818> announced<00:13:59.556> in<00:13:59.636> the<00:13:59.732> fall<00:14:00.422> of<00:14:00.920> last<00:14:01.225> year.

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And<00:14:03.246> based<00:14:03.632> off<00:14:03.888> when<00:14:04.113> that<00:14:05.252> ruling<00:14:05.573> is<00:14:05.718> made,<00:14:06.215> which<00:14:06.376> we<00:14:06.520> expect<00:14:06.873> it<00:14:07.017> to<00:14:07.098> be<00:14:07.322> June<00:14:07.595> or<00:14:08.285> late<00:14:08.462> June,<00:14:08.766> early<00:14:09.007> July,<00:14:10.227> repayment<00:14:11.029> is<00:14:11.109> supposed<00:14:11.494> to<00:14:11.575> start<00:14:11.912> 60<00:14:12.313> days<00:14:12.939> after<00:14:13.276> that.

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So<00:14:14.383> we're<00:14:14.479> looking<00:14:14.784> at<00:14:14.864> August,<00:14:15.137> September<00:14:16.003> of<00:14:16.228> when<00:14:16.485> payments<00:14:16.950> would<00:14:17.769> resume<00:14:18.106> again.

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And<00:14:18.956> so<00:14:19.036> that's<00:14:19.213> what<00:14:19.261> we're<00:14:19.373> planning<00:14:19.774> for.

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Like,<00:14:20.159> that's<00:14:20.400> when<00:14:20.480> we<00:14:20.561> expect<00:14:20.898> it<00:14:20.962> to<00:14:21.122> all<00:14:21.459> happen<00:14:21.941> and<00:14:22.262> everything<00:14:22.647> to<00:14:22.743> kind<00:14:23.108> of<00:14:23.128> come<00:14:23.224> back<00:14:23.449> to<00:14:23.529> normal<00:14:23.850> regarding<00:14:24.123> student<00:14:24.412> loans.

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But<00:14:26.112> if<00:14:26.193> you<00:14:26.337> ask<00:14:26.433> my<00:14:26.578> confidence<00:14:27.091> of<00:14:27.219> like,<00:14:27.716> is<00:14:27.796> that<00:14:27.973> exactly<00:14:28.342> what's<00:14:28.438> going<00:14:28.534> to<00:14:28.598> happen?

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It's,<00:14:29.881> it's<00:14:30.025> a<00:14:30.041> coin<00:14:30.282> flip<00:14:30.458> right<00:14:30.603> now.

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It's<00:14:31.244> 50/50.

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Like,<00:14:32.527> we<00:14:32.752> really<00:14:32.992> have<00:14:33.168> no<00:14:33.313> idea,<00:14:34.131> you<00:14:34.211> know,<00:14:34.451> when,<00:14:34.676> you<00:14:34.708> know,<00:14:35.173> payments<00:14:35.558> are<00:14:35.798> actually<00:14:36.135> going<00:14:36.215> to<00:14:36.280> start.

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Yeah.

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Which<00:14:37.883> is<00:14:38.060> tough<00:14:38.220> to,<00:14:38.926> you<00:14:39.022> know,<00:14:39.246> run<00:14:39.359> a<00:14:39.423> business<00:14:39.904> when,<00:14:40.305> you<00:14:40.401> know,<00:14:40.545> you<00:14:41.171> don't<00:14:41.331> know<00:14:41.427> when<00:14:41.523> it's<00:14:41.668> happening.

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Yeah.

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I<00:14:43.095> wonder,<00:14:43.576> like,<00:14:43.817> obviously<00:14:44.314> Washington<00:14:44.779> doesn't<00:14:45.196> take<00:14:45.372> into<00:14:45.597> account<00:14:45.998> everything,<00:14:46.639> kind<00:14:46.815> of<00:14:46.864> like<00:14:47.040> the,<00:14:47.441> the<00:14:47.601> effects<00:14:48.002> that<00:14:48.146> they<00:14:48.307> have,<00:14:49.590> maybe<00:14:49.926> unintentional<00:14:50.728> or<00:14:50.873> intentional.

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But,<00:14:52.877> uh,<00:14:53.038> yeah,<00:14:53.294> that,<00:14:53.455> that<00:14:53.711> is<00:14:53.856> a<00:14:53.936> crazy<00:14:54.417> thing<00:14:54.802> to<00:14:54.898> be<00:14:55.043> in<00:14:55.139> your<00:14:55.380> business<00:14:56.567> and,<00:14:57.128> uh,<00:14:57.690> just<00:14:57.946> having<00:14:58.283> like,<00:14:58.572> oh,<00:14:58.748> nobody<00:14:59.053> has<00:14:59.165> to<00:14:59.310> do<00:14:59.454> anything<00:14:59.871> for<00:14:59.951> a<00:15:00.096> while.

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That's,<00:15:00.673> that's<00:15:00.914> pretty<00:15:01.058> crazy.

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Yep.

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It's<00:15:03.143> our,<00:15:04.507> our<00:15:04.667> VCs,<00:15:05.469> you<00:15:05.581> know,<00:15:05.806> it's—<00:15:06.672> they're<00:15:06.784> like,<00:15:06.993> everyone's<00:15:07.266> facing<00:15:07.554> challenges<00:15:07.971> right<00:15:08.132> now,<00:15:08.372> like<00:15:08.517> everybody,<00:15:09.094> you<00:15:09.175> know,<00:15:09.415> everything<00:15:09.656> that's<00:15:09.816> going<00:15:10.121> on,<00:15:10.217> it's<00:15:10.442> tough.

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But<00:15:11.805> for<00:15:11.982> you<00:15:12.158> guys,<00:15:12.784> you<00:15:12.880> know,<00:15:13.104> you<00:15:13.249> guys<00:15:13.505> are<00:15:13.666> getting—<00:15:14.131> you<00:15:14.227> know,<00:15:14.789> it's,<00:15:15.446> it's<00:15:15.655> been<00:15:15.767> a<00:15:15.831> tougher<00:15:16.216> journey<00:15:16.537> for<00:15:16.698> us.

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Like,<00:15:16.986> our<00:15:17.179> goalpost<00:15:17.676> continues<00:15:18.141> to<00:15:18.221> change,<00:15:18.622> but<00:15:19.200> luckily<00:15:19.585> we<00:15:19.681> have<00:15:20.066> an<00:15:20.178> amazing<00:15:20.483> group<00:15:20.660> of<00:15:20.804> investors<00:15:21.285> who<00:15:21.365> really<00:15:21.606> believe<00:15:21.847> in<00:15:21.911> our<00:15:22.071> mission<00:15:22.713> and<00:15:22.889> are<00:15:22.953> going<00:15:23.034> to<00:15:23.066> be<00:15:23.210> around<00:15:23.531> to<00:15:24.127> to,<00:15:24.321> you<00:15:24.353> know,<00:15:24.418> help<00:15:24.596> us<00:15:24.677> see<00:15:24.822> this<00:15:24.984> vision<00:15:25.226> through.

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Yeah,<00:15:26.358> what<00:15:26.520> was<00:15:26.682> it<00:15:26.746> like<00:15:26.989> to<00:15:27.086> raise<00:15:27.393> money<00:15:27.878> for,<00:15:28.137> for<00:15:28.622> all<00:15:28.849> this?

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And<00:15:29.124> like,<00:15:29.334> who<00:15:29.415> did<00:15:29.576> you<00:15:29.673> raise<00:15:30.061> from?

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And<00:15:30.579> did<00:15:31.210> you<00:15:31.290> raise<00:15:31.614> in<00:15:31.695> Austin?

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I'd<00:15:32.891> love<00:15:33.134> kind<00:15:33.215> of<00:15:33.280> like<00:15:34.148> that<00:15:34.382> experience.

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Yeah,<00:15:36.777> so,<00:15:37.908> you<00:15:37.989> know,<00:15:38.151> we<00:15:38.458> raised<00:15:38.797> a<00:15:38.959> $5.6<00:15:39.622> million<00:15:39.945> seed<00:15:40.333> round,<00:15:41.044> uh,<00:15:41.368> last<00:15:41.707> year.

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Um,<00:15:43.065> our<00:15:43.243> leads<00:15:43.728> were<00:15:44.294> Freestyle<00:15:44.779> Capital,<00:15:45.992> so<00:15:46.153> love<00:15:46.380> Dave<00:15:46.574> and<00:15:46.638> the<00:15:46.784> team<00:15:47.026> out<00:15:47.123> there<00:15:47.285> in<00:15:47.463> Silicon<00:15:47.851> Valley.

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Uh,<00:15:49.048> Propel<00:15:49.404> Ventures,<00:15:50.341> um,<00:15:50.827> like<00:15:50.988> also<00:15:51.166> in<00:15:51.263> San<00:15:51.425> Francisco,<00:15:52.217> big<00:15:52.444> fintech-focused<00:15:53.188> fund.

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And<00:15:54.318> Slosson<00:15:54.800> Co,<00:15:55.684> I'll<00:15:56.406> say<00:15:56.647> it's<00:15:56.808> the<00:15:56.888> number<00:15:57.306> one<00:15:58.173> fund<00:15:58.350> right<00:15:58.591> now<00:15:59.057> for<00:16:00.133> minority<00:16:00.599> and<00:16:00.679> women<00:16:01.000> founders<00:16:02.125> solving<00:16:02.510> problems<00:16:03.072> for<00:16:03.394> underrepresented<00:16:04.695> communities,<00:16:05.803> and<00:16:06.221> they're<00:16:06.365> based<00:16:06.542> out<00:16:06.638> of<00:16:06.767> LA.

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So<00:16:07.586> those<00:16:07.746> are<00:16:07.811> the<00:16:07.971> bulk<00:16:08.212> of<00:16:08.293> our<00:16:08.453> investors,<00:16:08.951> but<00:16:09.112> we<00:16:09.256> also<00:16:09.497> had<00:16:10.092> incredible<00:16:10.557> founders<00:16:11.200> like<00:16:11.360> John<00:16:11.585> Henry<00:16:11.923> from<00:16:12.164> Loop,<00:16:13.834> Craig<00:16:14.011> Lewis<00:16:14.252> from<00:16:14.734> Gigwage,<00:16:16.243> Ethan<00:16:16.500> Block,<00:16:17.127> founder<00:16:17.384> of<00:16:17.705> Digit.

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So<00:16:19.086> not<00:16:19.311> only<00:16:19.472> did<00:16:19.568> we<00:16:19.697> get<00:16:20.179> the,<00:16:20.516> the<00:16:20.580> mix<00:16:20.821> of<00:16:20.902> VCs<00:16:21.239> that<00:16:21.383> we<00:16:21.480> wanted,<00:16:22.282> But<00:16:22.443> we<00:16:22.587> also<00:16:22.747> had<00:16:22.924> incredible<00:16:23.325> founders<00:16:24.190> and<00:16:24.383> some,<00:16:24.912> you<00:16:24.992> know,<00:16:25.393> obviously<00:16:25.890> a<00:16:26.067> lot<00:16:26.227> of<00:16:26.355> our<00:16:27.253> previous<00:16:27.638> investors<00:16:28.215> use<00:16:28.376> their<00:16:28.536> pro<00:16:28.696> rata<00:16:29.081> to<00:16:29.739> continue<00:16:30.059> to<00:16:30.204> support<00:16:30.524> us.

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And<00:16:32.064> a<00:16:32.128> lot<00:16:32.288> of<00:16:32.369> that<00:16:32.545> is<00:16:32.705> in<00:16:32.850> Austin.

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So<00:16:33.411> a<00:16:33.427> lot<00:16:33.667> of<00:16:33.732> our<00:16:33.828> angels,<00:16:34.229> Capital<00:16:34.630> Factory's<00:16:34.950> invested<00:16:35.367> twice<00:16:35.752> in<00:16:35.832> Chipper.

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Like<00:16:37.356> we<00:16:37.436> have<00:16:37.580> a<00:16:37.596> lot<00:16:37.692> of<00:16:37.740> support<00:16:38.077> locally<00:16:38.398> as<00:16:38.542> well.

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Yeah.

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Tell<00:16:40.146> me,<00:16:40.867> I<00:16:40.980> know<00:16:41.188> you<00:16:41.284> do<00:16:41.364> a<00:16:41.380> lot<00:16:41.605> of<00:16:41.685> work<00:16:41.926> around<00:16:42.150> this,<00:16:42.327> around<00:16:42.872> underrepresented<00:16:43.930> communities,<00:16:45.453> particularly<00:16:45.934> the<00:16:46.255> Hispanic<00:16:46.881> community<00:16:47.298> and<00:16:47.378> other<00:16:48.083> kind<00:16:48.260> of<00:16:48.292> minorities.

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Why<00:16:49.847> is<00:16:50.007> that<00:16:50.184> so<00:16:50.360> important<00:16:50.889> to<00:16:51.049> you<00:16:52.171> and<00:16:53.213> how<00:16:53.470> do<00:16:54.897> we,<00:16:55.778> and<00:16:56.099> the<00:16:56.179> collective<00:16:56.756> we,<00:16:57.301> and<00:16:57.622> anyone<00:16:57.878> who's<00:16:58.039> in<00:16:58.199> tech<00:16:59.465> or<00:17:00.283> business<00:17:00.764> kind<00:17:01.389> of<00:17:02.126> support<00:17:02.671> that?

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Yeah,<00:17:05.156> I<00:17:05.188> mean,<00:17:05.894> the<00:17:06.038> reason<00:17:06.294> it's<00:17:06.535> near<00:17:06.695> and<00:17:06.759> dear<00:17:06.871> to<00:17:06.952> me<00:17:07.160> is<00:17:07.256> because<00:17:07.561> I've<00:17:07.897> faced<00:17:08.218> the<00:17:08.362> challenges<00:17:09.164> of,<00:17:10.046> you<00:17:10.078> know,<00:17:10.222> trying<00:17:10.607> to<00:17:10.703> raise<00:17:10.943> capital,<00:17:12.402> you<00:17:12.482> know,<00:17:12.610> from<00:17:12.771> traditional<00:17:13.252> VCs.

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Go<00:17:16.862> through<00:17:17.023> the<00:17:17.119> typical<00:17:17.537> routes<00:17:17.859> of<00:17:18.003> being<00:17:18.228> an<00:17:18.324> engineer<00:17:19.128> or<00:17:19.369> being<00:17:19.851> in<00:17:19.915> the<00:17:20.012> tech<00:17:20.156> community.

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I<00:17:20.735> came<00:17:20.976> from<00:17:21.136> financial<00:17:21.458> advising<00:17:22.663> with<00:17:22.823> an<00:17:22.904> idea<00:17:23.466> for<00:17:23.611> a<00:17:23.627> financial<00:17:25.394> product<00:17:25.876> that<00:17:26.439> turned<00:17:26.663> into<00:17:26.840> a<00:17:26.856> technology<00:17:27.387> company,<00:17:27.885> right?

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So<00:17:28.752> I<00:17:28.768> didn't<00:17:29.009> have<00:17:29.556> the<00:17:31.018> network,<00:17:31.484> I<00:17:31.500> didn't<00:17:31.725> have<00:17:31.982> the<00:17:32.062> connections<00:17:32.689> to<00:17:33.267> get<00:17:33.428> into<00:17:33.589> VC.

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So<00:17:35.115> like<00:17:35.276> with<00:17:35.356> Student<00:17:35.533> Loan<00:17:35.742> Genius,<00:17:36.143> I<00:17:36.159> had<00:17:36.384> 55,<00:17:37.284> 59<00:17:37.766> nos<00:17:38.232> before<00:17:38.505> I<00:17:38.537> had<00:17:38.730> my<00:17:38.971> first<00:17:39.839> institutional<00:17:40.417> investor<00:17:40.899> invest.

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And<00:17:43.826> I<00:17:43.906> know<00:17:44.390> that's<00:17:44.632> the<00:17:44.729> challenge<00:17:45.196> that<00:17:45.293> a<00:17:45.358> lot<00:17:45.551> of<00:17:45.680> people<00:17:46.083> who<00:17:46.341> have<00:17:46.889> amazing<00:17:47.293> ideas<00:17:47.631> that<00:17:47.728> are<00:17:47.792> solving<00:17:48.196> problems<00:17:48.744> for<00:17:49.889> millions<00:17:50.131> of<00:17:50.195> people<00:17:50.469> in<00:17:50.534> the<00:17:50.614> country<00:17:52.307> are<00:17:52.468> facing.

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Like,<00:17:53.499> hey,<00:17:53.837> I<00:17:53.918> need<00:17:54.079> capital<00:17:54.449> in<00:17:54.546> order<00:17:54.659> to<00:17:54.787> get<00:17:54.948> this<00:17:55.110> off<00:17:55.206> the<00:17:55.351> ground.

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And<00:17:56.318> so<00:17:57.059> trying<00:17:57.300> to<00:17:57.461> be<00:17:57.542> a<00:17:57.558> mentor,<00:17:58.009> trying<00:17:58.122> to<00:17:58.186> make<00:17:58.347> those<00:17:58.492> connections,<00:17:58.911> trying<00:17:59.153> to<00:17:59.185> do<00:17:59.250> everything<00:17:59.540> I<00:17:59.701> can<00:18:00.410> to<00:18:01.571> help<00:18:01.829> these<00:18:02.054> founders<00:18:03.925> save<00:18:04.167> time<00:18:04.715> really<00:18:05.424> and<00:18:05.989> advance<00:18:06.908> their<00:18:07.053> business<00:18:07.263> as<00:18:07.440> quickly<00:18:07.698> as<00:18:07.779> possible.

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That's<00:18:09.418> really<00:18:09.660> my<00:18:09.822> goal.

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I<00:18:10.956> love<00:18:11.117> to<00:18:11.182> say<00:18:11.360> like,<00:18:11.587> as<00:18:11.749> I<00:18:11.830> climb,<00:18:12.105> I<00:18:12.251> pull.

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So<00:18:12.979> every<00:18:13.481> single<00:18:13.934> rung<00:18:14.129> that<00:18:14.226> I'm<00:18:14.355> going<00:18:14.663> up<00:18:14.776> or<00:18:15.003> like<00:18:15.181> every<00:18:15.408> level<00:18:15.634> of<00:18:15.667> that<00:18:15.829> mountain,<00:18:16.298> like<00:18:16.395> I'm<00:18:16.606> trying<00:18:16.719> to<00:18:16.849> bring<00:18:17.108> the<00:18:17.172> entire<00:18:17.431> community<00:18:17.755> with<00:18:20.424> me.

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Your<00:18:20.803> second<00:18:21.194> question<00:18:21.520> around,<00:18:21.912> you<00:18:21.944> know,<00:18:22.238> what<00:18:22.483> could<00:18:23.054> the<00:18:23.152> community<00:18:23.478> be<00:18:23.641> doing?

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You<00:18:24.408> know,<00:18:24.603> I<00:18:24.766> think<00:18:24.946> it's,<00:18:26.472> we<00:18:26.633> saw<00:18:27.115> what<00:18:27.340> happened,<00:18:28.224> you<00:18:28.304> know,<00:18:28.384> I<00:18:28.545> think<00:18:28.963> post-George<00:18:29.846> Floyd<00:18:30.714> and<00:18:30.891> the<00:18:31.035> movement<00:18:31.453> that<00:18:31.678> happened<00:18:32.096> with<00:18:32.337> VCs<00:18:33.285> and<00:18:33.526> other<00:18:33.686> funds<00:18:34.024> coming<00:18:34.410> out<00:18:34.988> and<00:18:35.213> everyone<00:18:35.470> trying<00:18:35.631> to<00:18:35.727> get<00:18:35.856> involved<00:18:36.307> to<00:18:36.641> start<00:18:37.024> to<00:18:37.108> help<00:18:37.375> more<00:18:37.625> minority<00:18:37.926> women<00:18:38.042> founders.

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That<00:18:39.607> was<00:18:39.719> incredible<00:18:40.264> to<00:18:40.344> see.

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So<00:18:41.242> like,<00:18:41.530> I<00:18:41.546> feel<00:18:41.691> like<00:18:41.803> that<00:18:41.883> was<00:18:42.011> like<00:18:42.107> a<00:18:42.187> nice<00:18:42.508> rush<00:18:42.749> of<00:18:42.909> 18-24<00:18:43.710> months<00:18:44.255> of,<00:18:45.057> you<00:18:45.089> know,<00:18:46.580> you<00:18:46.676> know,<00:18:46.997> Black<00:18:47.237> and<00:18:47.301> brown<00:18:47.542> founders<00:18:47.942> getting<00:18:48.183> 2-3x<00:18:48.904> the<00:18:49.000> amount<00:18:49.257> of<00:18:49.385> capital<00:18:49.722> they<00:18:49.866> were<00:18:49.962> getting<00:18:50.203> before,<00:18:51.084> right?

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But<00:18:52.190> what<00:18:52.287> we<00:18:52.367> saw<00:18:52.607> this<00:18:52.768> past<00:18:53.152> year<00:18:53.633> is<00:18:53.970> the<00:18:54.050> numbers<00:18:54.451> that<00:18:54.675> are<00:18:54.835> being<00:18:55.012> invested<00:18:55.493> into<00:18:56.134> Latino<00:18:56.615> and<00:18:56.759> Black<00:18:56.935> founders<00:18:57.817> is<00:18:57.977> back<00:18:58.282> to<00:18:58.522> pre-pandemic<00:18:59.164> levels,<00:19:00.045> right?

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And<00:19:01.007> so<00:19:01.184> as<00:19:01.344> things<00:19:01.568> get<00:19:01.745> tough,<00:19:02.161> or,<00:19:02.610> you<00:19:02.690> know,<00:19:02.947> it<00:19:03.027> feels<00:19:03.267> like<00:19:03.428> VCs<00:19:03.812> are<00:19:03.973> kind<00:19:04.149> of<00:19:04.229> getting<00:19:04.550> back<00:19:04.806> into<00:19:06.058> the<00:19:06.556> playbook<00:19:06.958> that<00:19:07.118> they<00:19:07.263> have.

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And<00:19:08.178> so,<00:19:08.949> you<00:19:08.981> know,<00:19:09.592> the<00:19:10.186> excitement,<00:19:10.893> the<00:19:10.957> momentum,<00:19:12.098> the<00:19:12.178> stats<00:19:12.596> and<00:19:12.676> reports<00:19:13.126> that<00:19:13.286> every<00:19:14.009> organization<00:19:14.652> was<00:19:14.893> printing,<00:19:15.856> you<00:19:15.888> know,<00:19:16.676> as<00:19:16.820> they<00:19:16.900> were<00:19:16.981> making<00:19:17.222> those<00:19:17.334> investments,<00:19:18.025> like,<00:19:18.185> I<00:19:18.282> want<00:19:18.442> that<00:19:18.603> to<00:19:18.683> continue<00:19:19.631> so<00:19:19.727> they<00:19:19.808> can<00:19:19.968> see<00:19:20.354> what's<00:19:20.531> actually<00:19:20.836> happening<00:19:21.157> right<00:19:21.350> now<00:19:21.559> because<00:19:22.137> we're<00:19:22.281> feeling<00:19:22.619> it,<00:19:22.763> right?

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And<00:19:23.245> that's<00:19:23.486> the<00:19:23.582> conversation<00:19:24.096> that's<00:19:24.289> happening<00:19:24.546> internally,<00:19:25.655> you<00:19:25.687> know,<00:19:25.992> with<00:19:26.136> other<00:19:26.313> founders<00:19:26.795> and<00:19:27.534> accelerators<00:19:28.096> around<00:19:28.305> the<00:19:28.385> country<00:19:28.739> of<00:19:28.867> like,<00:19:29.510> you<00:19:29.542> know,<00:19:29.911> what<00:19:30.232> could<00:19:30.393> we<00:19:30.489> do<00:19:30.650> to<00:19:30.811> be<00:19:31.116> be<00:19:31.212> doing<00:19:31.453> differently,<00:19:31.854> right?

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It's<00:19:32.192> not<00:19:32.272> like<00:19:32.481> there's<00:19:32.722> less<00:19:32.898> deal<00:19:33.123> flow.

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It's<00:19:33.974> not<00:19:34.054> like<00:19:34.247> the<00:19:34.343> ideas<00:19:34.745> are<00:19:34.905> there,<00:19:35.869> but<00:19:36.270> the<00:19:36.415> amount<00:19:36.591> of<00:19:36.752> funding<00:19:37.073> is<00:19:37.217> shrinking<00:19:38.020> at<00:19:38.117> a<00:19:38.181> dramatic<00:19:38.582> pace.

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And<00:19:39.802> I<00:19:39.947> feel<00:19:40.043> like<00:19:40.220> we<00:19:40.300> may<00:19:40.525> be<00:19:41.248> less<00:19:41.649> than<00:19:41.874> pre-pandemic<00:19:42.516> levels,<00:19:42.998> you<00:19:43.030> know,<00:19:43.560> after<00:19:44.041> we<00:19:44.122> see<00:19:44.234> the<00:19:44.314> numbers<00:19:44.619> for<00:19:44.860> 2023.

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What's<00:19:47.092> going<00:19:47.413> on<00:19:47.526> in<00:19:47.654> Austin?

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The<00:19:48.634> growth<00:19:49.035> of<00:19:49.180> Austin<00:19:49.918> has<00:19:50.239> been<00:19:51.427> unbelievable.

00:19:52.487 --> 00:20:02.667
You<00:19:52.567> know,<00:19:52.728> I<00:19:52.953> live<00:19:53.129> in<00:19:53.274> Utah<00:19:55.201> and<00:19:57.128> The<00:19:57.224> growth<00:19:57.609> here<00:19:57.770> has<00:19:57.946> been<00:19:58.171> crazy,<00:19:59.231> but,<00:19:59.536> uh,<00:19:59.937> Austin<00:20:00.339> is<00:20:00.596> like,<00:20:00.917> it's,<00:20:01.479> it's<00:20:01.945> transformed.

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It's<00:20:03.486> a<00:20:03.566> whole<00:20:03.711> different<00:20:04.032> place.

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Can<00:20:04.754> you<00:20:04.787> talk<00:20:05.027> about<00:20:05.397> like<00:20:05.638> the<00:20:05.911> startup<00:20:06.376> and<00:20:06.456> tech<00:20:06.778> ecosystem<00:20:07.725> in<00:20:08.062> Austin<00:20:08.544> and<00:20:08.608> how<00:20:08.785> that's<00:20:09.090> changed?

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Excuse<00:20:10.808> me.

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Absolutely.

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Um,<00:20:12.959> so<00:20:13.024> I've<00:20:13.120> been<00:20:13.264> in<00:20:13.345> Austin<00:20:13.602> since<00:20:13.842> 20—<00:20:14.549> or<00:20:14.806> 2008.

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Um,<00:20:16.556> so<00:20:16.636> I've<00:20:16.749> seen<00:20:17.214> this,<00:20:17.760> you<00:20:17.792> know,<00:20:18.001> obviously<00:20:18.258> like<00:20:18.435> it<00:20:18.499> was,<00:20:18.659> it's<00:20:18.820> been<00:20:18.965> growing<00:20:19.382> since,<00:20:19.767> you<00:20:19.799> know,<00:20:19.944> early<00:20:20.105> 2000s<00:20:20.747> with<00:20:20.988> the<00:20:21.148> tech<00:20:21.389> boom<00:20:21.614> then.

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But<00:20:22.354> to<00:20:22.419> see<00:20:22.597> it<00:20:22.759> grow<00:20:23.001> from<00:20:23.308> 2008<00:20:23.971> to<00:20:24.214> what<00:20:24.359> it<00:20:24.456> is<00:20:24.553> today,<00:20:25.507> and<00:20:25.572> then<00:20:25.669> being<00:20:25.895> a<00:20:25.911> part<00:20:26.089> of<00:20:26.154> like<00:20:26.316> Capital<00:20:26.785> Factory<00:20:27.189> and<00:20:27.270> really<00:20:27.528> just<00:20:27.755> the<00:20:27.787> center<00:20:28.078> of<00:20:28.159> gravity<00:20:28.660> for<00:20:29.048> technology<00:20:29.549> here<00:20:29.695> in<00:20:29.776> Austin,<00:20:30.600> like<00:20:30.827> it's<00:20:32.136> been<00:20:32.282> amazing.

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It's,<00:20:34.965> I<00:20:35.046> think,<00:20:35.289> great<00:20:35.612> for<00:20:36.259> founders<00:20:36.824> in<00:20:37.051> one<00:20:37.228> sense<00:20:37.714> where,<00:20:38.425> you<00:20:38.457> know,<00:20:38.603> you're<00:20:38.748> having<00:20:39.072> a<00:20:39.168> ton<00:20:39.395> of<00:20:39.460> people<00:20:39.589> moving<00:20:39.847> to<00:20:40.041> Austin,<00:20:40.477> so<00:20:40.703> the<00:20:40.783> talent<00:20:41.106> pool<00:20:41.348> is<00:20:41.494> here,<00:20:42.301> right?

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There's<00:20:43.060> a<00:20:43.108> lot<00:20:43.270> of<00:20:43.302> more<00:20:43.512> collaboration<00:20:44.077> going<00:20:44.400> on.

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You're<00:20:44.884> starting<00:20:45.062> to<00:20:45.142> see<00:20:45.304> more<00:20:45.546> VCs<00:20:46.014> coming<00:20:46.256> in<00:20:46.353> town,<00:20:46.837> more<00:20:47.322> capital<00:20:47.645> is<00:20:47.725> kind<00:20:47.871> of<00:20:47.967> flowing<00:20:48.274> through.

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And<00:20:49.046> one<00:20:49.142> of<00:20:49.175> the<00:20:49.287> biggest<00:20:49.543> gaps<00:20:49.848> we<00:20:49.944> had<00:20:50.168> in<00:20:50.249> Austin<00:20:50.665> was<00:20:51.627> getting<00:20:51.868> that<00:20:52.108> seed<00:20:52.493> round,<00:20:53.310> getting<00:20:53.551> that<00:20:54.593> post-angel,<00:20:55.955> pre-Series<00:20:56.741> A.

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That<00:20:57.638> was<00:20:57.783> the<00:20:57.879> biggest<00:20:58.199> gap<00:20:58.745> that<00:20:59.001> we<00:20:59.081> saw<00:20:59.883> over<00:21:00.027> the<00:21:00.187> last<00:21:00.524> 5<00:21:00.764> or<00:21:00.796> 6<00:21:01.085> years.

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But<00:21:01.630> that's<00:21:01.870> now<00:21:01.967> starting<00:21:02.287> to<00:21:02.351> get<00:21:02.608> filled,<00:21:03.409> which<00:21:03.586> is<00:21:03.714> fantastic.

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That<00:21:04.515> means<00:21:04.692> more<00:21:04.852> ideas<00:21:05.189> are<00:21:05.317> coming<00:21:05.637> out<00:21:05.910> and<00:21:06.551> getting<00:21:06.776> tested,<00:21:07.497> and<00:21:07.962> hopefully<00:21:08.282> we'll<00:21:08.379> start<00:21:08.539> to<00:21:08.619> see<00:21:08.940> the<00:21:09.164> lagging<00:21:09.501> indicators<00:21:09.982> of<00:21:10.062> that<00:21:10.238> over<00:21:10.463> the<00:21:10.495> next<00:21:10.687> couple<00:21:10.879> of<00:21:11.008> years.

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But<00:21:13.027> in<00:21:13.172> addition<00:21:13.508> to<00:21:13.653> that,<00:21:13.893> you<00:21:13.973> also<00:21:14.214> have<00:21:14.454> huge<00:21:15.352> corporations<00:21:15.896> coming,<00:21:16.217> right?

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Like<00:21:16.938> Oracle<00:21:17.274> moved<00:21:17.594> their<00:21:18.315> headquarters<00:21:18.796> here,<00:21:19.100> Tesla's<00:21:19.613> in<00:21:19.757> town,<00:21:20.238> like<00:21:20.863> HP.

00:21:21.279 --> 00:21:26.774
I<00:21:21.359> mean,<00:21:21.503> just<00:21:21.840> there's<00:21:23.121> so<00:21:23.298> many<00:21:23.506> companies<00:21:23.987> have<00:21:24.387> come<00:21:24.723> and<00:21:24.820> started<00:21:25.108> to<00:21:25.268> build<00:21:25.508> bigger<00:21:25.749> offices,<00:21:26.309> Amazon.

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And<00:21:28.152> although<00:21:28.328> it's<00:21:28.552> great<00:21:28.873> for<00:21:29.113> Austin<00:21:29.289> as<00:21:29.449> a<00:21:29.513> whole,<00:21:30.651> it's<00:21:30.875> also<00:21:31.131> been<00:21:31.292> challenging<00:21:32.013> as<00:21:32.173> a<00:21:32.317> founder,<00:21:32.717> as<00:21:32.830> a<00:21:32.894> startup<00:21:33.518> to,<00:21:34.239> you<00:21:34.320> know,<00:21:34.496> acquire<00:21:34.896> talent,<00:21:35.537> right?

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Because<00:21:36.002> now<00:21:36.098> you're<00:21:36.242> competing<00:21:36.723> against<00:21:36.979> those<00:21:37.155> salaries.

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And<00:21:38.421> so<00:21:38.581> we<00:21:38.741> faced<00:21:39.126> it<00:21:39.206> after<00:21:39.366> our<00:21:39.478> seed<00:21:39.782> round<00:21:40.087> of,<00:21:40.263> you<00:21:40.359> know,<00:21:40.503> trying<00:21:40.744> to<00:21:40.968> build<00:21:41.128> our<00:21:41.224> engineering<00:21:41.705> team<00:21:42.265> and<00:21:42.570> the<00:21:42.650> rest<00:21:42.826> of<00:21:42.890> our<00:21:43.050> team.

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It's<00:21:43.467> like<00:21:44.028> now<00:21:44.172> you're<00:21:44.332> dealing<00:21:44.588> with<00:21:44.813> a<00:21:44.829> lot<00:21:44.989> of<00:21:45.069> these<00:21:45.213> organizations<00:21:45.854> who<00:21:45.950> can<00:21:46.094> pay<00:21:46.190> top<00:21:46.511> dollar.

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And<00:21:47.421> in<00:21:47.500> most<00:21:47.660> cases,<00:21:47.920> startups<00:21:48.180> can't<00:21:48.480> do<00:21:48.660> that.

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And<00:21:49.480> so<00:21:49.780> it's,<00:21:50.500> you<00:21:50.501> kind<00:21:50.560> of<00:21:50.620> see<00:21:50.780> the<00:21:51.000> good<00:21:51.140> and<00:21:51.440> bad<00:21:51.520> of,<00:21:52.360> you<00:21:52.380> know,<00:21:52.560> what's<00:21:52.880> happening<00:21:53.160> in<00:21:53.340> the<00:21:53.440> technology<00:21:53.820> space.

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But<00:21:55.100> overall,<00:21:55.380> it's<00:21:55.600> fun.

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It's<00:21:56.100> exciting<00:21:56.380> to<00:21:56.540> be<00:21:56.700> here.

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You<00:21:57.800> know,<00:21:58.000> we're<00:21:58.340> not<00:21:58.500> leaving<00:21:58.840> anytime<00:21:59.200> soon.

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We<00:21:59.740> have<00:21:59.880> 3<00:22:00.060> kids,<00:22:00.360> like<00:22:00.600> Austin's<00:22:00.880> going<00:22:00.940> to<00:22:01.000> be<00:22:01.160> home<00:22:01.340> for<00:22:01.760> at<00:22:02.000> least<00:22:02.001> the<00:22:02.120> next<00:22:02.280> like<00:22:02.460> 15,<00:22:02.800> 16<00:22:03.060> years.

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Well,<00:22:03.901> it's<00:22:04.040> just<00:22:04.220> such<00:22:04.400> a<00:22:04.480> great,<00:22:05.320> incredible<00:22:05.920> city.

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And<00:22:07.620> 6th<00:22:07.780> Street<00:22:07.820> is<00:22:08.060> really<00:22:08.300> cool.

00:22:09.280 --> 00:22:11.850
Do<00:22:09.540> you<00:22:09.541> ever<00:22:09.760> get<00:22:09.880> lost<00:22:10.220> on<00:22:10.440> 6th<00:22:10.800> Street<00:22:10.880> late<00:22:11.120> at<00:22:11.300> night?

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Not<00:22:13.040> as<00:22:13.500> much<00:22:13.620> as<00:22:13.780> I<00:22:13.880> used<00:22:14.140> to,<00:22:14.260> that's<00:22:14.500> for<00:22:14.780> sure.

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It's<00:22:16.640> like,<00:22:17.020> I<00:22:17.040> want<00:22:17.060> to<00:22:17.080> enjoy<00:22:17.100> my<00:22:17.120> weekends<00:22:17.140> now,<00:22:17.160> you<00:22:17.180> know,<00:22:17.200> if<00:22:18.956> I<00:22:19.036> go<00:22:19.212> do<00:22:19.373> that,<00:22:19.678> I'm<00:22:20.015> out<00:22:20.176> till<00:22:20.320> Monday,<00:22:20.962> you<00:22:20.994> know?

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Oh<00:22:21.604> yeah,<00:22:22.086> for<00:22:22.166> sure,<00:22:22.808> for<00:22:23.001> sure.

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But<00:22:23.370> it<00:22:23.530> is<00:22:23.707> fun.

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Like,<00:22:24.173> you<00:22:24.269> drive<00:22:24.494> downtown<00:22:25.071> and<00:22:25.168> it's<00:22:25.296> like,<00:22:25.537> when<00:22:25.633> did<00:22:25.794> this<00:22:25.954> high-rise<00:22:26.500> go<00:22:26.757> up?

00:22:27.062 --> 00:22:32.439
You<00:22:27.094> know,<00:22:27.319> it's<00:22:27.463> like,<00:22:27.624> I,<00:22:28.025> I<00:22:28.105> was—<00:22:28.426> I<00:22:28.442> haven't<00:22:28.683> been<00:22:28.779> downtown<00:22:29.245> like<00:22:29.406> 3<00:22:29.646> weeks<00:22:29.967> and<00:22:30.048> like<00:22:30.208> a<00:22:30.433> whole<00:22:30.609> new,<00:22:30.754> like,<00:22:31.091> you<00:22:31.123> know,<00:22:31.268> skyscraper<00:22:31.878> is<00:22:31.974> getting<00:22:32.279> built.

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So<00:22:32.680> it's<00:22:32.776> like,<00:22:33.724> it's<00:22:33.884> awesome.

00:22:34.703 --> 00:22:36.982
Yeah,<00:22:35.168> it's<00:22:35.570> unbelievable,<00:22:36.147> the<00:22:36.228> growth<00:22:36.549> of<00:22:36.693> Austin.

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Growth<00:22:37.351> of<00:22:37.656> a<00:22:37.737> lot<00:22:37.913> of<00:22:37.977> places<00:22:38.379> outside<00:22:38.652> of<00:22:38.716> Silicon<00:22:39.037> Valley<00:22:39.904> has<00:22:40.305> been<00:22:40.401> incredible.

00:22:40.963 --> 00:22:46.517
And<00:22:41.140> I,<00:22:41.268> I<00:22:41.348> do<00:22:41.525> think<00:22:41.766> COVID<00:22:42.103> accelerated<00:22:42.873> that<00:22:43.628> to,<00:22:43.852> to<00:22:44.238> a<00:22:44.334> pretty,<00:22:44.960> um,<00:22:45.522> insane<00:22:46.020> extent.

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I<00:22:47.047> wonder<00:22:47.544> what<00:22:47.769> your<00:22:47.930> thoughts<00:22:48.251> are<00:22:48.347> on<00:22:48.427> the<00:22:48.588> future<00:22:48.989> of<00:22:49.134> education.

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Like,<00:22:50.659> how<00:22:50.835> do<00:22:50.899> you<00:22:51.076> think<00:22:51.477> of—<00:22:52.007> how<00:22:52.119> do<00:22:52.184> you<00:22:52.360> think<00:22:52.601> we're<00:22:52.745> going<00:22:52.842> to<00:22:52.922> be<00:22:53.644> learning<00:22:54.206> 10<00:22:54.431> years<00:22:54.591> from<00:22:54.768> now?

00:22:55.314 --> 00:23:00.081
Like,<00:22:55.876> is—<00:22:56.132> how<00:22:56.598> could<00:22:56.694> we—<00:22:57.336> why<00:22:57.497> don't<00:22:57.593> we<00:22:57.722> all<00:22:57.802> just<00:22:57.962> get<00:22:58.155> degrees<00:22:58.685> on<00:22:58.861> ChatGPT-4?

00:23:00.146 --> 00:23:00.948
Or<00:23:00.707> I<00:23:00.788> guess—.

00:23:01.510 --> 00:23:03.693
Yeah,<00:23:03.099> oh,<00:23:03.196> we<00:23:03.340> should.

00:23:03.838 --> 00:23:04.769
I<00:23:04.078> hope<00:23:04.319> that<00:23:04.464> we<00:23:04.560> can.

00:23:05.347 --> 00:23:09.954
Um,<00:23:05.989> I<00:23:06.005> was<00:23:06.165> actually,<00:23:06.647> uh,<00:23:07.112> uh,<00:23:07.530> my<00:23:07.674> daughter's,<00:23:08.236> you<00:23:08.284> know,<00:23:08.348> starting<00:23:08.718> her,<00:23:09.279> her<00:23:09.456> first<00:23:09.697> business.

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She's<00:23:10.194> 9.

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And<00:23:11.318> so<00:23:11.527> we<00:23:11.623> were,<00:23:11.864> we<00:23:11.944> were<00:23:12.024> getting<00:23:12.249> content,<00:23:12.827> you<00:23:12.923> know,<00:23:13.052> ideas<00:23:13.694> using<00:23:13.870> ChatGPT<00:23:14.577> yesterday.

00:23:15.171 --> 00:23:16.519
She's<00:23:15.460> like,<00:23:15.620> this<00:23:15.861> is<00:23:15.973> amazing.

00:23:16.583 --> 00:23:17.225
And<00:23:16.631> I<00:23:16.647> was<00:23:16.760> like,<00:23:16.904> uh-oh.

00:23:17.290 --> 00:23:20.810
I<00:23:17.810> was<00:23:17.930> like,<00:23:18.990> I'm<00:23:19.110> just<00:23:19.230> interested<00:23:19.490> to<00:23:19.650> see<00:23:19.790> how<00:23:20.030> they're<00:23:20.290> going<00:23:20.291> to<00:23:20.390> use<00:23:20.590> it.

00:23:20.810 --> 00:23:23.090
Are<00:23:20.811> they<00:23:20.970> just<00:23:21.110> going<00:23:21.190> to<00:23:21.270> be<00:23:21.349> copying<00:23:21.810> what's<00:23:22.470> on<00:23:22.690> there?

00:23:23.690 --> 00:23:28.520
Or<00:23:23.710> I'm<00:23:25.630> excited<00:23:25.930> to<00:23:26.090> monitor<00:23:26.490> how<00:23:26.790> she<00:23:27.410> uses<00:23:27.590> that<00:23:27.770> technology.

00:23:29.010 --> 00:23:32.610
But<00:23:29.350> the<00:23:29.670> future<00:23:29.870> of<00:23:30.030> education,<00:23:31.370> it's<00:23:31.630> definitely<00:23:31.910> changing.

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However,<00:23:34.350> the<00:23:34.650> universities,<00:23:35.430> the<00:23:35.550> public<00:23:35.850> institutions,<00:23:36.610> they<00:23:36.850> still<00:23:37.130> have<00:23:37.290> a<00:23:37.470> stronghold<00:23:37.890> on<00:23:38.170> our<00:23:38.390> education<00:23:38.710> system,<00:23:39.290> right?

00:23:40.310 --> 00:23:47.390
A<00:23:40.370> lot<00:23:40.550> of<00:23:41.270> careers,<00:23:41.790> a<00:23:41.890> lot<00:23:41.970> of<00:23:42.110> jobs<00:23:43.150> still<00:23:43.890> require<00:23:44.510> a<00:23:44.830> bachelor's<00:23:45.130> degree<00:23:45.410> or<00:23:45.590> master's<00:23:45.990> degree,<00:23:46.290> or<00:23:46.450> that's<00:23:46.610> like<00:23:46.830> the<00:23:46.850> first<00:23:47.070> thing<00:23:47.190> they're<00:23:47.270> looking<00:23:47.290> for<00:23:47.310> before<00:23:47.330> they<00:23:47.350> hire<00:23:47.370> anybody.

00:23:49.389 --> 00:23:57.524
So<00:23:49.517> depending<00:23:49.918> on<00:23:49.950> which,<00:23:50.400> you<00:23:50.432> know,<00:23:50.977> which<00:23:51.619> industry<00:23:51.924> you're<00:23:52.020> going<00:23:52.405> in,<00:23:53.063> getting<00:23:53.320> a<00:23:53.448> formal<00:23:53.689> education<00:23:54.186> is<00:23:54.219> still<00:23:54.491> going<00:23:54.572> to<00:23:54.652> be<00:23:54.828> part<00:23:55.294> of<00:23:55.454> the<00:23:55.550> process<00:23:56.112> to,<00:23:56.738> you<00:23:56.818> know,<00:23:56.914> get<00:23:57.075> educated.

00:23:58.760 --> 00:24:11.323
But<00:23:58.904> we've<00:23:59.016> seen<00:23:59.305> some<00:23:59.482> big,<00:23:59.963> big,<00:24:00.348> you<00:24:00.428> know,<00:24:01.006> big<00:24:01.166> organizations—<00:24:01.808> Google,<00:24:03.333> you<00:24:03.429> know,<00:24:04.295> there's<00:24:04.777> been<00:24:04.953> a<00:24:05.098> few<00:24:05.419> Fortune<00:24:05.739> 500s<00:24:06.445> who<00:24:06.606> have<00:24:06.718> said,<00:24:07.023> you<00:24:07.119> know,<00:24:07.264> we're<00:24:07.761> not<00:24:08.371> requiring<00:24:08.949> a<00:24:09.029> college<00:24:09.350> degree<00:24:09.655> anymore<00:24:10.553> to<00:24:10.730> hire<00:24:10.970> somebody.

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And<00:24:12.174> so<00:24:12.334> I'm<00:24:12.479> hoping<00:24:12.800> that<00:24:12.960> kind<00:24:13.137> of<00:24:13.201> catches<00:24:14.388> and,<00:24:14.789> you<00:24:14.821> know,<00:24:15.287> we<00:24:15.431> can<00:24:15.527> have<00:24:15.704> people<00:24:15.945> start<00:24:16.266> to<00:24:16.394> take<00:24:16.715> more<00:24:17.036> online<00:24:17.373> courses,<00:24:17.934> certifications,<00:24:18.753> and<00:24:18.849> not<00:24:19.041> have<00:24:19.218> to<00:24:19.378> go<00:24:19.539> through<00:24:19.635> the<00:24:19.844> traditional<00:24:20.726> you<00:24:20.759> know,<00:24:20.983> 4-year,<00:24:22.172> uh,<00:24:22.910> you<00:24:22.990> know,<00:24:23.215> university<00:24:23.777> process<00:24:24.596> and<00:24:24.741> take<00:24:24.901> a<00:24:24.933> lot<00:24:25.078> of<00:24:25.142> classes<00:24:25.720> that<00:24:25.865> you're<00:24:25.977> never<00:24:26.202> going<00:24:26.298> to<00:24:26.346> apply,<00:24:27.310> that<00:24:27.470> you<00:24:27.550> don't<00:24:27.727> really<00:24:27.952> want<00:24:28.048> to<00:24:28.193> take,<00:24:28.610> but<00:24:28.755> you're<00:24:28.851> having<00:24:29.092> to<00:24:29.236> pay<00:24:29.574> for.

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And<00:24:30.120> especially<00:24:30.794> if<00:24:30.858> you're<00:24:30.938> pulling<00:24:31.243> out<00:24:31.276> student<00:24:31.661> debt<00:24:31.902> for<00:24:31.982> that.

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Um,<00:24:33.347> and<00:24:33.491> so<00:24:34.310> I<00:24:34.391> think<00:24:34.551> we're<00:24:34.792> going<00:24:35.033> to<00:24:35.113> definitely<00:24:35.434> move<00:24:35.675> to<00:24:35.852> more<00:24:36.157> of<00:24:36.237> like<00:24:36.398> a<00:24:36.478> virtual<00:24:37.104> online<00:24:38.630> educational<00:24:39.063> system.

00:24:40.428 --> 00:24:50.086
Schools<00:24:40.974> need<00:24:41.054> to<00:24:41.199> get<00:24:41.311> more<00:24:41.520> innovative<00:24:42.242> on,<00:24:42.740> you<00:24:42.820> know,<00:24:43.382> looking<00:24:43.623> at<00:24:43.703> the<00:24:43.864> future<00:24:44.185> of<00:24:44.330> what<00:24:44.426> kind<00:24:44.587> of<00:24:44.619> skills<00:24:44.988> they<00:24:45.068> need<00:24:45.165> to<00:24:45.309> provide<00:24:46.096> you<00:24:46.129> know,<00:24:46.355> their<00:24:46.694> students,<00:24:47.566> you<00:24:47.647> know,<00:24:47.760> so<00:24:47.906> that<00:24:48.196> they<00:24:48.293> can<00:24:48.455> actually<00:24:48.697> go<00:24:48.794> into<00:24:48.956> the<00:24:49.085> workforce<00:24:49.586> and<00:24:49.666> be<00:24:49.763> successful.

00:24:52.037 --> 00:24:55.160
And<00:24:52.135> I'm<00:24:52.215> hoping<00:24:52.701> that<00:24:52.943> will<00:24:53.170> help<00:24:53.574> alleviate<00:24:54.076> some<00:24:54.173> of<00:24:54.238> the<00:24:54.383> cost,<00:24:54.966> right?

00:24:55.354 --> 00:25:01.243
Like<00:24:55.467> we've<00:24:55.645> seen<00:24:56.260> tuition<00:24:56.843> skyrocket<00:24:57.457> 7%<00:24:58.444> a<00:24:58.752> year,<00:24:59.172> like<00:24:59.561> almost<00:24:59.738> consistently<00:25:00.305> over<00:25:00.402> the<00:25:00.467> last<00:25:00.709> 15<00:25:00.952> years.

00:25:01.777 --> 00:25:10.469
I'm<00:25:02.004> hoping<00:25:02.328> that<00:25:02.651> that's<00:25:02.797> going<00:25:02.894> to<00:25:02.959> get<00:25:03.137> pulled<00:25:03.380> back<00:25:03.687> because<00:25:03.946> people<00:25:04.156> aren't<00:25:04.270> going<00:25:04.367> to<00:25:04.432> be<00:25:04.577> having<00:25:04.820> to<00:25:04.917> take<00:25:05.160> a<00:25:05.176> lot<00:25:05.338> of<00:25:05.467> electives<00:25:05.953> and<00:25:06.018> additional<00:25:06.374> classes<00:25:07.750> because<00:25:08.073> they're<00:25:08.154> just<00:25:08.381> taking<00:25:08.640> core<00:25:08.963> focus<00:25:09.271> classes,<00:25:09.870> you<00:25:09.951> know,<00:25:10.096> online.

00:25:12.337 --> 00:25:26.663
And,<00:25:12.977> you<00:25:13.058> know,<00:25:13.298> as<00:25:14.019> you<00:25:14.131> know,<00:25:14.259> right<00:25:14.436> now<00:25:14.596> we're<00:25:14.676> seeing<00:25:15.061> just<00:25:15.477> so<00:25:15.702> many<00:25:15.878> changes<00:25:16.839> in<00:25:16.984> technology<00:25:17.881> and<00:25:17.961> innovation<00:25:18.859> happening,<00:25:19.788> you<00:25:19.820> know,<00:25:20.108> for,<00:25:20.525> you<00:25:20.621> know,<00:25:20.910> jobs,<00:25:21.471> whether<00:25:21.663> it's<00:25:21.807> design,<00:25:22.913> ChatGPT<00:25:23.570> stuff<00:25:23.890> for<00:25:24.034> content<00:25:24.435> writing,<00:25:24.691> like<00:25:25.316> things<00:25:25.509> are<00:25:25.573> moving<00:25:25.829> so<00:25:26.134> rapidly.

00:25:27.255 --> 00:25:37.607
You<00:25:27.336> know,<00:25:27.400> I<00:25:27.496> believe<00:25:27.880> we're<00:25:27.961> gonna<00:25:28.201> also<00:25:28.521> have<00:25:28.938> employers<00:25:29.659> really<00:25:29.835> start<00:25:30.044> to<00:25:30.124> connect<00:25:30.460> with<00:25:30.556> a<00:25:30.701> bunch<00:25:30.877> of<00:25:30.925> universities<00:25:32.127> and<00:25:32.223> just<00:25:32.447> continue<00:25:32.800> to<00:25:33.008> just<00:25:33.890> increase<00:25:34.931> the<00:25:35.027> education<00:25:35.829> within<00:25:36.870> their<00:25:37.014> organizations.

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Right.

00:25:38.778 --> 00:25:50.298
So<00:25:38.810> instead<00:25:39.035> of<00:25:39.115> having<00:25:39.597> people<00:25:39.917> go<00:25:40.238> to,<00:25:40.784> you<00:25:40.816> know,<00:25:41.201> get<00:25:41.345> an<00:25:41.426> MBA<00:25:42.228> or,<00:25:42.805> you<00:25:42.902> know,<00:25:43.110> go<00:25:43.351> to<00:25:43.928> like<00:25:44.169> a<00:25:44.313> university,<00:25:45.292> they'll<00:25:45.452> be<00:25:45.597> able<00:25:45.773> to,<00:25:46.094> you<00:25:46.190> know,<00:25:46.271> start<00:25:46.415> to<00:25:46.559> provide<00:25:46.816> the<00:25:46.896> classes<00:25:47.265> and<00:25:47.362> certifications<00:25:47.955> internally<00:25:48.581> and<00:25:48.725> really,<00:25:49.383> really<00:25:49.544> control<00:25:49.880> that<00:25:50.169> more.

00:25:50.827 --> 00:25:54.597
And<00:25:51.052> hopefully<00:25:51.308> that<00:25:51.453> also<00:25:51.693> reduces<00:25:52.111> the<00:25:52.191> cost<00:25:52.528> and<00:25:52.832> prevents<00:25:53.153> people<00:25:53.394> from<00:25:53.554> going<00:25:53.779> to<00:25:53.875> student<00:25:54.148> loan<00:25:54.357> debt.

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Yeah.

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Yeah.

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I<00:25:57.244> wonder<00:25:57.485> how<00:25:57.790> AI<00:25:58.127> is<00:25:58.287> going<00:25:58.528> to<00:25:58.833> change<00:25:59.234> Chipper.

00:26:00.357 --> 00:26:03.902
How<00:26:00.469> are<00:26:00.598> you<00:26:00.758> thinking<00:26:01.015> about<00:26:02.443> integrating<00:26:03.100> this<00:26:03.261> technology?

00:26:03.967 --> 00:26:07.159
I<00:26:03.983> mean,<00:26:04.223> I<00:26:04.368> think<00:26:04.689> everybody<00:26:05.009> is<00:26:05.106> going<00:26:05.250> to<00:26:05.330> be<00:26:05.427> an<00:26:05.571> AI<00:26:05.828> company<00:26:06.550> to<00:26:06.694> some<00:26:06.887> extent.

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Absolutely.

00:26:08.726 --> 00:26:14.776
I<00:26:08.743> mean,<00:26:08.888> we've<00:26:09.227> already<00:26:09.469> started<00:26:09.711> to<00:26:09.856> test<00:26:12.034> ChatGPT,<00:26:13.066> AI,<00:26:13.566> like<00:26:13.728> whatever<00:26:13.889> you<00:26:13.970> want<00:26:14.099> to<00:26:14.196> call<00:26:14.389> it,<00:26:14.534> right?

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In<00:26:15.567> a<00:26:15.648> couple<00:26:15.890> different<00:26:16.148> ways.

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One<00:26:16.873> is<00:26:17.034> just<00:26:17.340> from<00:26:17.984> a<00:26:18.790> content<00:26:19.208> perspective,<00:26:19.852> right?

00:26:20.722 --> 00:26:26.584
There<00:26:20.883> is<00:26:20.980> so<00:26:21.527> much<00:26:22.493> confusion<00:26:23.476> and<00:26:24.345> knowledge<00:26:24.683> that<00:26:24.780> needs<00:26:24.941> to<00:26:25.086> be<00:26:25.167> shared<00:26:25.634> around<00:26:25.940> student<00:26:26.359> debt.

00:26:27.246 --> 00:26:35.096
And,<00:26:27.504> you<00:26:27.584> know,<00:26:27.681> being<00:26:27.842> a<00:26:27.907> startup,<00:26:28.552> having<00:26:28.858> limited<00:26:29.181> resources,<00:26:30.229> you<00:26:30.261> know,<00:26:30.406> we<00:26:30.487> can't<00:26:30.664> afford<00:26:31.454> to<00:26:31.761> hire,<00:26:32.180> you<00:26:32.277> know,<00:26:32.357> multiple<00:26:32.760> writers<00:26:33.309> to<00:26:33.956> write<00:26:34.117> all<00:26:34.149> the<00:26:34.277> content<00:26:34.614> that<00:26:34.759> we<00:26:34.855> want.

00:26:35.658 --> 00:26:44.262
And<00:26:35.754> so<00:26:35.850> we've<00:26:35.915> started<00:26:36.204> to<00:26:36.284> test<00:26:36.685> out<00:26:37.022> different<00:26:37.263> content<00:26:37.648> strategies<00:26:38.306> and<00:26:39.013> essays,<00:26:39.510> social<00:26:39.912> posts,<00:26:40.939> blogs,<00:26:42.303> just<00:26:42.544> to<00:26:42.640> see<00:26:43.042> how<00:26:43.427> accurate<00:26:43.780> it<00:26:43.844> is,<00:26:44.085> right?

00:26:44.326 --> 00:26:47.504
Because<00:26:44.470> also<00:26:44.647> we<00:26:44.743> don't<00:26:44.888> want<00:26:45.032> to<00:26:45.112> be<00:26:45.209> giving<00:26:45.594> out<00:26:46.734> the<00:26:46.814> wrong<00:26:47.038> information.

00:26:48.820 --> 00:27:01.469
And<00:26:48.917> so<00:26:49.767> it's<00:26:49.944> not<00:26:50.329> where<00:26:50.425> we<00:26:50.586> need<00:26:50.730> it<00:26:50.827> to<00:26:50.923> be<00:26:51.132> yet,<00:26:52.673> but<00:26:53.475> for<00:26:53.652> certain<00:26:54.037> types<00:26:54.503> of<00:26:54.743> content<00:26:55.161> that<00:26:55.321> we<00:26:55.466> need<00:26:55.642> for<00:26:55.803> a<00:26:55.883> website<00:26:56.381> or<00:26:56.589> for<00:26:56.637> social,<00:26:57.328> it<00:26:57.713> does<00:26:57.873> an<00:26:57.970> amazing<00:26:58.355> job,<00:26:59.158> but<00:26:59.318> also<00:26:59.495> to<00:26:59.655> just<00:26:59.896> kind<00:27:00.072> of<00:27:00.281> get<00:27:00.442> brainstorming<00:27:00.939> going<00:27:01.196> as<00:27:01.341> well.

00:27:01.822 --> 00:27:19.657
We're<00:27:03.490> also<00:27:03.682> going<00:27:03.811> to<00:27:03.891> be<00:27:03.987> testing<00:27:04.388> out<00:27:04.725> soon,<00:27:05.110> we<00:27:05.367> had<00:27:05.447> a<00:27:05.527> discussion<00:27:05.912> about<00:27:06.152> this<00:27:06.313> last<00:27:06.634> week,<00:27:07.420> of<00:27:07.997> testing<00:27:08.542> out,<00:27:10.162> you<00:27:10.483> know,<00:27:10.723> a<00:27:10.804> ChatGPT<00:27:11.766> or<00:27:12.472> within<00:27:12.792> our<00:27:13.210> chatbot<00:27:13.594> within<00:27:14.011> the<00:27:14.156> Chipper<00:27:14.477> app,<00:27:15.214> they<00:27:15.311> have<00:27:15.599> a<00:27:15.631> new<00:27:15.856> AI<00:27:16.417> integration<00:27:17.540> where<00:27:18.085> it<00:27:18.165> could<00:27:18.342> essentially<00:27:18.743> take<00:27:18.983> over<00:27:19.208> your<00:27:19.288> support.

00:27:20.523 --> 00:27:34.557
So<00:27:20.908> instead<00:27:21.133> of<00:27:21.213> having<00:27:21.614> a<00:27:22.175> person<00:27:22.496> having<00:27:22.753> to<00:27:23.057> message,<00:27:23.699> you<00:27:23.731> know,<00:27:23.939> all<00:27:24.052> the<00:27:24.180> users<00:27:24.501> coming<00:27:24.822> in,<00:27:25.559> you<00:27:25.656> know,<00:27:25.864> based<00:27:26.185> off<00:27:26.506> the<00:27:26.602> questions,<00:27:27.147> they<00:27:27.308> could<00:27:27.484> read<00:27:27.725> it<00:27:28.045> and<00:27:28.126> then,<00:27:28.591> you<00:27:28.639> know,<00:27:28.751> provide<00:27:29.232> like<00:27:29.328> an<00:27:29.473> accurate<00:27:29.713> reply<00:27:30.211> for<00:27:30.852> whatever<00:27:31.157> question,<00:27:31.478> whether<00:27:31.718> it's<00:27:32.151> a<00:27:32.215> technical<00:27:32.616> issue<00:27:33.161> or<00:27:33.354> like<00:27:33.514> an<00:27:33.643> actual<00:27:33.883> student<00:27:34.124> loan<00:27:34.316> issue.

00:27:35.038 --> 00:27:38.004
So<00:27:35.118> we're<00:27:35.198> starting<00:27:35.455> to<00:27:35.503> put<00:27:35.663> that<00:27:35.824> in<00:27:35.904> place<00:27:36.208> and<00:27:36.289> start<00:27:36.545> to,<00:27:36.850> you<00:27:36.882> know,<00:27:37.090> test<00:27:37.347> it<00:27:37.411> and<00:27:37.507> make<00:27:37.668> it<00:27:37.748> better.

00:27:38.694 --> 00:27:41.789
And<00:27:38.967> so<00:27:39.592> that's<00:27:39.833> the<00:27:39.993> first<00:27:40.234> two,<00:27:40.795> you<00:27:40.875> know,<00:27:41.019> use<00:27:41.180> cases<00:27:41.500> right<00:27:41.677> now.

00:27:42.559 --> 00:27:44.948
As<00:27:42.703> we<00:27:42.783> look<00:27:42.896> into<00:27:43.040> the<00:27:43.184> future,<00:27:43.938> I'm<00:27:44.403> not<00:27:44.563> sure<00:27:44.788> yet.

00:27:45.045 --> 00:27:46.728
Like,<00:27:45.365> we<00:27:45.510> haven't,<00:27:45.846> we<00:27:45.927> haven't<00:27:46.167> thought<00:27:46.392> that<00:27:46.568> far.

00:27:46.809 --> 00:27:53.624
I<00:27:46.889> think<00:27:47.049> we're<00:27:47.194> waiting<00:27:47.370> for<00:27:47.514> payments<00:27:47.771> to<00:27:47.867> resume<00:27:48.252> before<00:27:48.637> we<00:27:48.733> really<00:27:48.909> start<00:27:49.118> to<00:27:49.278> look<00:27:49.455> at,<00:27:50.160> you<00:27:50.192> know,<00:27:50.641> what<00:27:50.738> does<00:27:50.882> our,<00:27:51.299> you<00:27:51.331> know,<00:27:51.620> product<00:27:51.860> roadmap<00:27:52.325> look<00:27:52.486> like<00:27:52.822> integrating<00:27:53.384> AI.

00:27:54.490 --> 00:27:57.844
Oh<00:27:54.570> yeah,<00:27:54.907> the<00:27:55.068> payments<00:27:55.613> thing<00:27:55.950> and<00:27:56.174> the<00:27:56.848> Just<00:27:57.249> total<00:27:57.619> pause.

00:27:57.956 --> 00:28:06.842
That<00:27:58.117> is<00:27:58.197> so—<00:27:59.001> I<00:27:59.065> can't<00:27:59.226> even<00:27:59.338> imagine<00:27:59.869> being<00:28:00.270> in<00:28:00.367> your<00:28:00.527> shoes,<00:28:01.074> like<00:28:01.652> running<00:28:02.118> that<00:28:02.536> business<00:28:03.725> and<00:28:03.821> the<00:28:03.902> federal<00:28:04.223> government<00:28:04.609> is<00:28:04.689> like,<00:28:04.850> hey,<00:28:05.010> we're<00:28:05.187> just<00:28:05.332> putting<00:28:05.508> that<00:28:05.669> on<00:28:05.749> hold<00:28:06.151> for<00:28:06.537> years.

00:28:07.581 --> 00:28:08.979
Like,<00:28:07.838> just<00:28:08.417> take<00:28:08.642> it<00:28:08.722> easy.

00:28:09.140 --> 00:28:10.714
It's<00:28:09.799> like<00:28:09.927> another<00:28:10.249> 6<00:28:10.473> months.

00:28:10.811 --> 00:28:11.775
Like,<00:28:11.052> oh,<00:28:11.454> okay.

00:28:11.936 --> 00:28:12.273
All<00:28:12.000> right.

00:28:12.337 --> 00:28:19.488
So,<00:28:12.755> so,<00:28:13.285> you<00:28:13.318> know,<00:28:13.526> board<00:28:14.185> and<00:28:14.282> investors,<00:28:14.908> the<00:28:14.989> plan<00:28:15.246> that<00:28:15.326> we<00:28:15.471> had,<00:28:15.776> like,<00:28:15.937> we're<00:28:16.017> going<00:28:16.081> to<00:28:16.129> nix<00:28:16.515> that<00:28:16.901> and<00:28:17.077> we're<00:28:17.158> going<00:28:17.351> to<00:28:17.720> look—<00:28:17.881> here's,<00:28:18.202> here's<00:28:18.379> what<00:28:18.459> the<00:28:18.540> next<00:28:18.765> 6<00:28:18.990> months<00:28:19.166> looks<00:28:19.327> like.

00:28:19.954 --> 00:28:22.621
That<00:28:20.114> is<00:28:20.371> crazy,<00:28:21.400> actually,<00:28:21.978> to<00:28:22.203> think<00:28:22.380> about.

00:28:23.970 --> 00:28:35.755
Finally,<00:28:24.612> I<00:28:24.949> ask<00:28:25.190> everybody<00:28:25.575> this<00:28:25.752> question<00:28:26.860> at<00:28:27.021> the<00:28:27.117> end<00:28:28.321> because<00:28:28.642> at<00:28:28.803> CEO.com,<00:28:29.590> we<00:28:29.750> believe<00:28:30.649> chances<00:28:31.436> given<00:28:32.721> are<00:28:33.459> just<00:28:33.716> as<00:28:33.925> good,<00:28:34.102> if<00:28:34.246> not<00:28:34.423> better,<00:28:34.744> than<00:28:34.904> chances<00:28:35.386> taken.

00:28:35.804 --> 00:28:40.669
So<00:28:35.932> the<00:28:36.028> chances<00:28:36.414> you<00:28:36.494> take<00:28:36.671> on<00:28:36.751> yourself,<00:28:38.357> but<00:28:38.581> the<00:28:38.678> chances<00:28:39.063> you<00:28:39.159> give<00:28:39.384> to<00:28:39.625> others<00:28:39.962> are<00:28:40.187> incredible.

00:28:41.070 --> 00:28:47.974
I'd<00:28:41.231> love<00:28:41.472> to<00:28:42.531> hear<00:28:42.692> from<00:28:42.852> you<00:28:43.077> and<00:28:43.190> somebody<00:28:43.880> or<00:28:45.036> something<00:28:45.903> that<00:28:47.188> gave<00:28:47.429> you<00:28:47.573> a<00:28:47.605> chance.

00:28:49.515 --> 00:28:53.990
Yeah,<00:28:50.477> I<00:28:50.702> mean,<00:28:51.520> first<00:28:51.776> of<00:28:51.905> all,<00:28:52.065> I<00:28:52.081> would<00:28:52.257> say<00:28:53.444> my<00:28:53.669> father.

00:28:54.311 --> 00:28:58.353
Like,<00:28:54.631> he—<00:28:55.754> one<00:28:55.850> of<00:28:55.883> my<00:28:55.947> favorite<00:28:56.251> quotes<00:28:56.877> ever<00:28:57.053> is<00:28:57.214> from<00:28:57.535> Jimmy<00:28:57.775> Valvano.

00:28:59.123 --> 00:29:05.330
He<00:28:59.540> said,<00:29:00.662> my<00:29:00.823> dad<00:29:01.063> gave<00:29:01.160> me<00:29:01.304> the<00:29:01.625> greatest<00:29:02.026> gift<00:29:02.667> you<00:29:02.812> could<00:29:02.924> ever<00:29:03.133> give<00:29:03.245> another<00:29:03.534> person,<00:29:04.336> and<00:29:04.512> that<00:29:04.737> he<00:29:04.833> believed<00:29:05.138> in<00:29:05.234> me.

00:29:06.180 --> 00:29:16.061
And<00:29:06.373> so<00:29:07.961> big<00:29:08.121> shout<00:29:08.426> out<00:29:08.522> to<00:29:08.666> my<00:29:08.907> dad<00:29:09.725> for,<00:29:10.912> you<00:29:11.409> know,<00:29:11.570> being<00:29:12.452> the<00:29:12.677> biggest<00:29:13.013> believer<00:29:13.655> in<00:29:13.735> my<00:29:13.896> dreams<00:29:14.313> and<00:29:14.457> everything,<00:29:15.163> you<00:29:15.243> know,<00:29:15.355> that<00:29:15.451> I'm<00:29:15.580> doing<00:29:15.804> today.

00:29:16.965 --> 00:29:19.044
He<00:29:17.126> sacrificed<00:29:17.755> so<00:29:17.932> much<00:29:18.254> to<00:29:18.351> make<00:29:18.561> it<00:29:18.641> all<00:29:18.738> happen.

00:29:19.947 --> 00:29:23.897
And<00:29:20.108> so<00:29:20.270> if<00:29:20.431> it<00:29:20.511> wasn't<00:29:20.898> for<00:29:21.060> that<00:29:21.559> and<00:29:21.704> that<00:29:21.866> support,<00:29:22.527> like,<00:29:22.994> I<00:29:23.010> don't<00:29:23.268> know<00:29:23.413> where<00:29:23.558> I'd<00:29:23.800> be.

00:29:25.288 --> 00:29:28.138
Also,<00:29:25.452> I'd<00:29:25.533> love<00:29:25.632> to<00:29:25.714> give<00:29:25.861> a<00:29:25.877> shout<00:29:26.189> out<00:29:26.369> to<00:29:26.762> Capital<00:29:27.171> Factory<00:29:27.581> here<00:29:27.745> in<00:29:27.826> Austin.

00:29:30.462 --> 00:30:01.547
Yeah,<00:29:30.866> like<00:29:31.011> I<00:29:31.043> mentioned,<00:29:31.753> going<00:29:31.995> from<00:29:32.157> a<00:29:32.802> financial<00:29:33.109> advisor<00:29:33.674> to<00:29:34.174> the<00:29:34.255> technology<00:29:34.674> space,<00:29:35.126> which<00:29:35.239> is<00:29:35.303> like<00:29:35.546> on<00:29:35.691> the<00:29:35.771> opposite<00:29:36.191> spectrum<00:29:36.998> of<00:29:37.143> innovation,<00:29:37.724> like<00:29:37.901> I<00:29:37.934> had<00:29:38.063> no<00:29:38.369> idea<00:29:38.757> what<00:29:38.854> I<00:29:38.934> was<00:29:39.096> doing<00:29:39.402> when<00:29:39.515> I<00:29:39.547> was<00:29:39.677> getting<00:29:39.806> into<00:29:40.051> tech<00:29:40.965> and<00:29:41.536> I<00:29:41.617> found<00:29:42.009> a<00:29:42.091> home<00:29:42.352> at<00:29:42.417> Capital<00:29:42.923> Factory<00:29:43.641> where<00:29:44.086> You<00:29:44.166> know,<00:29:44.423> I<00:29:44.728> like<00:29:44.841> to<00:29:44.905> say<00:29:45.130> you<00:29:45.226> can<00:29:45.371> get<00:29:45.483> an<00:29:45.612> MBA<00:29:46.656> in<00:29:46.753> startups<00:29:47.234> in<00:29:47.395> 3<00:29:47.556> months<00:29:48.439> just<00:29:48.680> by<00:29:49.162> being<00:29:49.403> there,<00:29:49.885> meeting<00:29:50.046> with<00:29:50.190> all<00:29:50.287> the<00:29:50.351> mentors<00:29:51.716> and<00:29:51.973> everything<00:29:52.295> they<00:29:52.375> do<00:29:52.536> to<00:29:52.616> support,<00:29:53.483> you<00:29:53.580> know,<00:29:53.805> first-time<00:29:54.222> founders<00:29:54.865> or<00:29:55.025> founders<00:29:55.347> in<00:29:55.427> general,<00:29:55.748> but<00:29:55.909> definitely<00:29:56.294> first-time<00:29:56.568> founders<00:29:57.997> to<00:29:58.142> just<00:29:58.319> really,<00:29:59.122> you<00:29:59.218> know,<00:29:59.443> learn<00:30:00.471> like,<00:30:00.632> how<00:30:00.712> do<00:30:00.776> you<00:30:00.873> do<00:30:01.049> all<00:30:01.130> this<00:30:01.290> stuff?

00:30:01.596 --> 00:30:02.270
How<00:30:01.692> do<00:30:01.740> you<00:30:01.853> build<00:30:02.078> tech?

00:30:02.335 --> 00:30:03.122
How<00:30:02.431> do<00:30:02.479> you<00:30:02.575> hire<00:30:02.881> a<00:30:02.897> team?

00:30:03.202 --> 00:30:04.262
How<00:30:03.234> do<00:30:03.347> you<00:30:03.379> go<00:30:03.539> raise<00:30:03.780> capital?

00:30:04.808 --> 00:30:08.118
If<00:30:04.921> it<00:30:05.049> wasn't<00:30:05.387> for<00:30:05.547> them,<00:30:05.724> I<00:30:05.853> definitely<00:30:06.270> wouldn't<00:30:06.591> be<00:30:06.816> here<00:30:07.877> today.

00:30:08.616 --> 00:30:11.507
So<00:30:08.840> big<00:30:09.001> shout<00:30:09.226> out<00:30:09.724> to<00:30:09.869> Josh<00:30:10.190> Bear<00:30:10.607> and<00:30:10.768> the<00:30:10.848> entire<00:30:11.186> team<00:30:11.411> there.

00:30:11.988 --> 00:30:19.811
And<00:30:12.247> lastly,<00:30:14.348> you<00:30:14.429> know,<00:30:15.706> you<00:30:15.803> can<00:30:15.964> work<00:30:16.223> as<00:30:16.352> hard<00:30:16.465> as<00:30:16.595> you<00:30:16.692> want,<00:30:17.080> you<00:30:17.322> can<00:30:17.419> have<00:30:17.597> the<00:30:17.742> best<00:30:17.985> ideas,<00:30:18.615> but<00:30:18.938> you<00:30:19.035> can't<00:30:19.278> do<00:30:19.375> it<00:30:19.440> alone.

00:30:20.409 --> 00:30:25.340
And<00:30:20.490> I've<00:30:20.620> had<00:30:21.606> two<00:30:22.899> mentors<00:30:23.400> who<00:30:23.481> have<00:30:23.643> really<00:30:24.047> been<00:30:24.192> there<00:30:24.289> with<00:30:24.516> me<00:30:24.613> the<00:30:24.774> entire<00:30:25.098> way.

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They've<00:30:27.016> really<00:30:27.242> been<00:30:27.564> coaches<00:30:28.452> of<00:30:28.613> life,<00:30:28.952> not<00:30:29.178> just<00:30:29.371> in<00:30:29.516> business<00:30:30.000> and<00:30:30.081> startups,<00:30:31.275> but<00:30:31.436> really,<00:30:32.243> you<00:30:32.275> know,<00:30:32.485> how<00:30:32.662> do<00:30:32.727> you<00:30:32.888> balance<00:30:33.227> this,<00:30:33.711> you<00:30:33.872> know,<00:30:34.034> while<00:30:34.421> also<00:30:34.582> having<00:30:34.824> a<00:30:34.840> family,<00:30:35.808> while<00:30:35.873> also<00:30:36.180> taking<00:30:36.375> care<00:30:36.521> of<00:30:36.602> your<00:30:36.700> health<00:30:37.497> and<00:30:37.741> all<00:30:37.838> the<00:30:37.919> challenges<00:30:38.342> that<00:30:38.472> I<00:30:38.635> faced<00:30:38.895> over<00:30:39.058> the<00:30:39.123> last<00:30:39.367> couple<00:30:39.610> years.

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So<00:30:40.629> if<00:30:40.758> it<00:30:40.918> wasn't<00:30:41.175> for<00:30:41.335> them<00:30:41.640> to<00:30:41.897> bounce<00:30:42.138> ideas<00:30:42.523> off,<00:30:42.763> to<00:30:42.859> get<00:30:43.084> feedback,<00:30:43.581> to<00:30:43.742> let<00:30:43.886> me<00:30:43.983> cry<00:30:44.223> and<00:30:44.464> vent,<00:30:44.785> like,<00:30:45.651> um,<00:30:45.988> I<00:30:46.068> definitely<00:30:46.373> wouldn't<00:30:46.550> be<00:30:46.694> here<00:30:46.790> today.

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That's<00:30:48.539> beautiful,<00:30:48.908> man.

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You've<00:30:49.598> built<00:30:49.758> something<00:30:50.159> incredible.

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And,<00:30:52.069> uh,<00:30:52.550> man,<00:30:52.807> Capital<00:30:53.208> Factory<00:30:53.753> really<00:30:54.170> is<00:30:54.395> like<00:30:54.571> the<00:30:54.796> hub<00:30:55.149> of<00:30:55.358> Austin.

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It's,<00:30:56.561> uh,<00:30:56.802> the<00:30:56.898> amount<00:30:57.219> of<00:30:57.363> energy<00:30:57.604> you<00:30:57.780> feel—<00:30:58.101> I've<00:30:58.727> been<00:30:58.887> there<00:30:58.984> a<00:30:59.064> couple<00:30:59.369> times.

00:31:00.347 --> 00:31:08.177
It's,<00:31:00.572> it's<00:31:00.732> an<00:31:01.214> incredible,<00:31:02.273> incredible<00:31:02.914> place<00:31:03.620> and<00:31:03.700> a<00:31:03.781> real<00:31:04.102> gem<00:31:04.663> for—<00:31:05.144> I<00:31:05.176> mean,<00:31:05.385> I,<00:31:05.626> I<00:31:05.642> don't<00:31:05.802> see<00:31:06.059> that<00:31:06.348> replicated<00:31:07.086> anywhere<00:31:07.808> else.

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It's<00:31:08.514> pretty<00:31:08.754> unique.

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Yeah,<00:31:10.696> and<00:31:10.760> that's,<00:31:11.097> I<00:31:11.113> mean,<00:31:11.322> that's<00:31:11.498> one<00:31:11.595> thing<00:31:11.739> I<00:31:11.803> love<00:31:11.915> about<00:31:12.140> Austin<00:31:12.461> too,<00:31:12.702> right?

00:31:12.942 --> 00:31:26.069
It's<00:31:13.103> like,<00:31:13.328> I<00:31:13.584> feel<00:31:13.649> like<00:31:13.889> Austin<00:31:14.130> is<00:31:14.242> a<00:31:14.307> place<00:31:14.772> where<00:31:15.189> if<00:31:15.285> you<00:31:15.414> need<00:31:15.590> help,<00:31:16.553> if<00:31:17.179> you're<00:31:18.222> asking<00:31:18.623> for<00:31:18.703> something,<00:31:19.442> like<00:31:19.923> the<00:31:20.067> community<00:31:20.790> in<00:31:20.870> Austin<00:31:21.367> as<00:31:21.512> a<00:31:21.528> whole,<00:31:21.929> but<00:31:22.089> definitely<00:31:22.571> within<00:31:22.876> the<00:31:22.972> tech<00:31:23.116> community,<00:31:23.550> is<00:31:23.694> willing<00:31:23.919> to<00:31:24.095> do<00:31:24.240> everything<00:31:24.497> they<00:31:24.657> can<00:31:25.058> to<00:31:25.283> help<00:31:25.524> you<00:31:25.556> succeed.

00:31:26.807 --> 00:31:33.403
And,<00:31:27.305> you<00:31:27.401> know,<00:31:27.449> I<00:31:27.626> think<00:31:28.187> Josh<00:31:28.508> and<00:31:28.573> the<00:31:28.669> team<00:31:28.829> there<00:31:29.070> really<00:31:29.295> capitalize<00:31:29.937> on<00:31:30.033> that<00:31:30.755> and<00:31:30.835> the<00:31:30.915> culture<00:31:31.172> of<00:31:31.381> Austin<00:31:31.718> to,<00:31:32.424> you<00:31:32.456> know,<00:31:32.600> make<00:31:32.777> it<00:31:32.841> what<00:31:32.986> it<00:31:33.082> is<00:31:33.226> today.

00:31:34.045 --> 00:31:36.227
But<00:31:34.205> hey,<00:31:34.366> you<00:31:34.462> guys<00:31:34.687> are<00:31:34.751> doing<00:31:34.927> great<00:31:35.168> things<00:31:35.553> out<00:31:35.633> in<00:31:35.714> Utah<00:31:36.051> too.

00:31:36.436 --> 00:31:37.222
Like,<00:31:36.532> we<00:31:36.677> hear<00:31:36.837> about<00:31:37.094> it.

00:31:37.495 --> 00:31:38.506
I<00:31:37.736> haven't<00:31:38.057> seen<00:31:38.137> it<00:31:38.201> in<00:31:38.282> a<00:31:38.362> while.

00:31:38.619 --> 00:31:41.395
I<00:31:38.635> haven't<00:31:38.843> been<00:31:39.004> out<00:31:39.100> there<00:31:39.180> in<00:31:39.261> a<00:31:39.325> couple<00:31:39.646> years,<00:31:40.047> but,<00:31:40.448> you<00:31:40.480> know,<00:31:40.689> we<00:31:40.785> hear<00:31:40.946> the<00:31:41.106> buzz.

00:31:41.989 --> 00:31:43.289
Um,<00:31:42.166> it<00:31:42.230> sounds<00:31:42.455> like<00:31:42.551> you<00:31:42.647> guys<00:31:42.856> are<00:31:42.888> next.

00:31:43.658 --> 00:31:46.226
Come<00:31:43.899> on<00:31:43.995> out,<00:31:44.220> we<00:31:44.316> got<00:31:44.461> a<00:31:44.557> big<00:31:44.718> event<00:31:45.103> coming<00:31:45.360> up<00:31:45.536> in<00:31:45.681> September.

00:31:46.274 --> 00:31:47.286
I'll<00:31:46.419> send<00:31:46.708> you<00:31:46.804> tickets.

00:31:47.671 --> 00:31:50.142
Tony,<00:31:48.104> thank<00:31:48.473> you<00:31:48.570> so<00:31:48.987> much<00:31:49.372> for<00:31:49.517> coming<00:31:49.838> on.

00:31:50.399 --> 00:31:53.706
Uh,<00:31:50.817> so<00:31:51.057> incredible<00:31:51.699> to<00:31:51.940> talk<00:31:52.261> to<00:31:52.325> you<00:31:52.502> and<00:31:52.582> learn<00:31:52.823> how<00:31:53.048> you<00:31:53.208> built<00:31:53.385> Chipper.

00:31:54.251 --> 00:31:55.567
Uh,<00:31:54.348> we'll<00:31:54.492> see<00:31:54.636> you<00:31:54.669> down<00:31:54.909> the<00:31:54.974> line,<00:31:55.214> my<00:31:55.311> friend.

00:31:55.728 --> 00:31:57.477
It's<00:31:56.916> great<00:31:57.076> to<00:31:57.172> meet<00:31:57.397> you.

00:31:57.542 --> 00:31:58.729
Thanks<00:31:57.702> for<00:31:57.798> having<00:31:58.023> me<00:31:58.184> on.

```