Entrepreneurs: The Role of Blockchain, AI, and Web3 in Wealth Creation with Vince Molinari + Others (Full Episode)

Episode 238 November 04, 2024 00:57:11
Entrepreneurs: The Role of Blockchain, AI, and Web3 in Wealth Creation with Vince Molinari + Others (Full Episode)
Passage to Profit Show - Road to Entrepreneurship
Entrepreneurs: The Role of Blockchain, AI, and Web3 in Wealth Creation with Vince Molinari + Others (Full Episode)

Nov 04 2024 | 00:57:11

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Show Notes

Richard Gearhart and Elizabeth Gearhart, co-hosts of The Passage to Profit Show along with iHeart Media Maven Kenya Gipson interview Vince Molinari from Fintech TV, Jesse Ramos from BBT Fitness and Chelsea Chong Kim from Chelsea’s Story Nook.

 

Join us as Vince Molinari, CEO and founder of Fintech.TV delves into the world of fintech and its game-changing impact on the financial industry. From democratizing access to capital and wealth to redefining ownership through blockchain and cryptocurrency, Vince shares his unique insights on the future of finance, entrepreneurship, and sustainable development. Tune in as he unpacks the evolution of financial technology, the power of decentralization, and how FinTech TV brings these high-stakes conversations to a global audience. Read more at: https://www.fintech.tv/

 

OUR ENTREPRENEUR PRESENTERS:

 

Jesse Ramos is the founder of BBT Fitness (Butterfly Body Transformation), designed for anyone who wants to improve their fitness and overall health so that they can lead a long and fruitful life. Jesse’s goal is to help his clients build the bridge from where they are now to where they see themselves at their happiest. This could be strengthening, improving body composition, or just wanting to feel free. Read more at: https://www.bbtfitness.nyc/

 

Chelsea Chong Kim is a teacher and author of the children’s book, “Carol the Carrot Bowls for the Salad Bowl.”  With over a decade of experience shaping young minds in both prestigious private and public schools, Chelsea’s love for teaching and storytelling inspired her to become a children’s book author. Read more at: https://chelseastorynook.com/

 

Whether you're a seasoned entrepreneur, a startup, an inventor, an innovator, a small business or just starting your entrepreneurial journey, tune into Passage to Profit Show for compelling discussions, real-life examples, and expert advice on entrepreneurship, intellectual property, trademarks and more. Visit https://passagetoprofitshow.com/ for the latest updates and episodes.

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Episode Transcript

[00:00:00] Speaker A: Entrepreneur is the engine of growth for our country. [00:00:02] Speaker B: I help busy New Yorkers. [00:00:04] Speaker C: I can do it. Let's just do it. [00:00:06] Speaker D: I'm Richard Gerhart. [00:00:08] Speaker E: And I'm Elizabeth Gearhart. You've just heard some snippets from our show. It was a great one. Stay tuned, especially if you want to. [00:00:14] Speaker A: Start a new business, ramping up your business. [00:00:19] Speaker D: The time is near. You've given it heart, now get it in gear. It's Passage to Profit with Richard and Elizabeth Gearhart. I'm Richard Gearhart, founder of Gearhart Law, a full service intellectual property law firm specializing in patents, trademarks and copyrights. [00:00:35] Speaker E: And I'm Elizabeth Gearhart, not an attorney, but I do marketing for Gearhart Law and I have my own startups and podcasts. [00:00:42] Speaker D: Welcome to Passage to Profit, the road to Entrepreneurship, where we talk with entrepreneurs and celebrities who tell their stories about their business journey and also share helpful insights about the successes that they've had. [00:00:54] Speaker E: Did you know that 2 in 5Americans want to start a new business or are business owners? Well, we have lots of information to help them too. [00:01:02] Speaker D: And we also talk a little about the intellectual property that helps them flourish. On our show, we have a very special guest, Vince Molinari. He is a CEO and founder of. [00:01:12] Speaker E: FinTech TV and two awesome presenters. After Vince, we have Jesse Ramos with BBT Fitness. I can hardly wait to hear how he did this. And Chelsea Chung Kim, children's book author. Oh my gosh. This book she brought is so amazing. Can hardly wait to hear all about it. [00:01:30] Speaker D: That sounds great. But before we get to our distinguished guests, it's time for your new business journey. Two in five Americans have their own business or are thinking about starting one. And we're going to take advantage of our special guests today and ask them a very important question. What business trends or what things does an entrepreneur need to do to make their business successful in 2025? [00:01:54] Speaker A: Vince, when you talk about ways and journeys, I think the biggest takeaway for me to put out to people is be prepared for failure. Be prepared for this to be a nonlinear journey. You have to pivot. Many times I felt like the old Spirograph. So many different circles and pivots till you finally hit the stride to be successful with it. [00:02:13] Speaker D: That's great, Jesse. [00:02:15] Speaker B: Oh, we have to stay ahead of the game in whatever industry and you have to be able to be agile and quick to adapt to whatever your consumer's looking for at the time. [00:02:25] Speaker C: Chelsea Chung Kim, My advice is in 2025, you need to know how to do. I Can mindset, you need to just go for it. I love Nike's quote. I just do it. I think that's the mindset you should just go for as an entrepreneur, a business for myself, an author. And also in 2025, it's the trend to do social media. Don't be afraid of it. Really start with social media. That's where you're going to go globally. [00:02:49] Speaker E: Elizabeth, what I think people should be thinking about in 2025 is surprise. Starting a podcast. A lot of people I know are starting podcasts and I was at a meeting last night and the guy was saying, jump on the train now because it's going to be full in a year. So go for it. [00:03:04] Speaker D: Those are all really great suggestions. One thing that I've recently heard about is a push for sustainability. So people have been working on sustainability a lot in their product offerings. And I saw a statistic the other day, 68% of consumers factor in sustainability when they decide to make a purchase. And if you notice, Amazon now is putting out sustainability points. Right. And so I think if you're going to be successful in 2025, you should try to take advantage of this trend and see how you can adapt your business to incorporate the sustainability passage to profit. With Richard and Elizabeth Gerhardt and our co host, Kenya Gibson, time now for Vince Molinari, the CEO and founder of FinTech TV. And it's actually a telev network where we talk about high technology as it relates to the financial industry. Vince has had an amazing career. He's a very accomplished man. He's created companies, he's done startups, he's even testified before Congress and represented the securities and Exchange Commission on a lot of these really important issues. So we're really honored to have you here. Vince, thanks so much. Tell us, what is Fintech? [00:04:17] Speaker A: First of all, thank you again. And I think when we look at the term fintech, it's almost become somewhat a household recognition. But what does it really mean? Simply, it's financial technology, right? It's the evolution of technology into our financial systems, our investment processes, and how do we make them more efficient, more transparent? And for me, the goal is to make them more available, to democratize. If we want to talk about democratizing access to capital and really the other side of that, democratizing access to wealth creation. So it kind of goes hand in hand. [00:04:49] Speaker D: So when we're talking about capital, we're talking about money that's available to fund businesses. Is that kind of what that means? Or maybe it means something different? [00:04:58] Speaker A: Well, yeah, I Think that's a big chunk of it. When we talk about the available capital to invest in entrepreneurs, as we all want to look at, and I think we lose sight a little bit of the entrepreneur is the engine of growth for our country. That's where our job creation comes from. That's where our economic prosperity comes from. So it all goes back to the core and we need to deploy more capital to grow the businesses so that we do have sustainability. Not only sustainability in the way you just referenced a moment, but sustainable economics. And I think it is the intersection of everything that you're talking about. As we see shareholders becoming stakeholders and consumers of companies they believe in and trust and what are they doing and how do they conduct themselves corporately. [00:05:40] Speaker E: You have an actual TV show that you film in different financial areas in the country. So you go down to the New York Stock Exchange and interview people down there. [00:05:50] Speaker A: We are so blessed. We have a full time studio on the floor of the New York Stock Exchange, the most iconic stock exchange in the world, where we broadcast live daily. We produce a show from NASDAQ Abu Dhabi Global Markets. And to me that's really been the testimony of the need for information and education. When we talk about these subjects, how do you demystify them? How do you have people understand what's really happening in these macro trends globally? Fintech TV as kind of an embryonic thought four or five years ago, has blossomed into a bit of a global network. [00:06:21] Speaker D: So where can people find FinTech TV? [00:06:23] Speaker A: FinTech TV, that's our own OTT platform that goes out globally. There's other ways to access it, but that's the most direct. [00:06:31] Speaker D: And so you have a lot of different programming. [00:06:33] Speaker A: Yeah, Richard, it really was birthed through a lot of my passions of access to capital, things that we've done with the UN over the years. We helped establish the Blockchain Commission for Sustainable Development. How do you look at blockchain and the global ecosystem? What does that really mean? What is the utilization cryptocurrency, stablecoin payment systems? And really what we focused on is the intersection of the Sustainable development goals, the 17 goals of the United nations that advance gender equality, financial inclusion, clean water, education, any injustice. So we really formulated our shows to bring those forward because whether you're left or right, Republican, Democrat, I think we'd all agree we'd have a better planet, let's have clean air, clean water, educate. The more we can put education into our system, the better outcome and results that we're going to have for society. So Broadly, how do you decentralize or democratize all of this? [00:07:28] Speaker E: I'm glad to hear you say that because I don't know what the landscape is right now, but for years I've been hearing that women just do not get investment capital. And you have a better chance of getting it if you have a man on the board of your company. But even then as a woman business owner, it's very difficult to get a piece of the pie. [00:07:46] Speaker A: Don't even get me started, but get me started on that subject. SDG number five Gender equality and financial inclusion at the United Nations. Tragically, I gave a speech at the UN 12 years ago that said the biggest emerging opportunity that we have in this planet, everybody's is women. And it's still, it is an injustice when we look at nearly 50% of the global population is not engaged in the decision making that affect the planet, that affect business, that affects government. The more we engage women and the thinking, the better outcomes. Now we can prove statistically and what's happening, women globally get less than 7% of the available venture capital money to fund businesses. Take it a step further. If you include black and brown women into that, you're somewhere 2 to 3%. That is an absolute injustice. But we're doing a disservice to ourselves as a society to not empower the brain trust that women represent globally. We have to fix that. [00:08:44] Speaker E: I agree. Yeah, there was a joke somebody said, I've read it somewhere like what can someone do to get venture capital funding for their tech company? And the answer was be a white male. They were joking that it was kind of true. [00:09:00] Speaker A: Sadly, it's the status quo and that's what has to change and jump in. And I'll have to tell you that is the power of disruption and where technology is going to decentralize. Not too long ago I couldn't dream of starting a media company that could be globalized, that could compete with major organizations with a fraction of the budget if it wasn't for technology and the availability which really becoming true web3 format. [00:09:24] Speaker D: So how do you promote your network? How do you get the word out for people who are interested in seeing about it? Because the competition for content now is so fierce. [00:09:36] Speaker A: Well again I count my blessings every day that we're so fortunate to be afforded venues like the New York Stock Exchange, nasdaq, the United Nations. We do the sustainable stock exchange television, SSE tv. So that gives us a really strong differentiation, if you would, to have those venues that give you a bit of instant credibility. But it's really the subject matter and the authenticity that we approach it with to really holistically bring forward a level of education that's not out there, awareness. And then we're trying to bridge, build. We do a show called the Table, never been done before. Dr. Dante Simpson, we wanted to bridge, build communities. How do we have conversations that start to heal, educate and move forward together? So he said to me, we should do a show called the Table. Because you weren't in media, you built a table, and now you invited me to have a seat at your table. So it's this kind of organic ability where we've been attracting so much talent and these conversations with people that I couldn't imagine. And it's just another layer of things that continue to present and unfold. [00:10:34] Speaker E: How do you pick who you invite to your table at the stock exchange? [00:10:38] Speaker A: It's a great question. You know, it was much harder earlier as, look, everybody wants to say, hey, what's the distribution? How am I going to be seen? But it became celebrities, athletes, captains of industries, where they say, well, SEC representatives, legislators, who all now want to have this conversation. So we got a lot of inbound. And then it's who is authentic, who's really trying to make a difference in the world, who's trying to advance something that's going to help society again, whether that's from a technological standpoint, an education, or frankly with any of the SDGs. As we continue to talk about FinTech. [00:11:13] Speaker D: When I think of fintech, I think of things like cryptocurrency and things like blockchain. Could you kind of define for us cryptocurrency? It sounds so complicated to me. And blockchain even, I mean, that is definitely a futuristic technology, but again, it seems kind of complicated. So can you explain that for us? [00:11:32] Speaker E: And can I add, is it here to stay? [00:11:35] Speaker A: Let me go to that part. No question, it's here to stay. And I think we're going to start to see evolving past blockchain, and we begin to look at quantum computing. And when we look at this intersection of machine learning, artificial intelligence, we are in a rapid move to all of this, staying and entrenching more and more in society, business and every aspect of life. [00:11:55] Speaker F: Largely. [00:11:56] Speaker A: I think that's good, but we do have some controls that we need around it. But I think it goes back to listen, I was fortunate to provide testimony to Congress six times, really around the modernization of security law and digital transformation. And some of the earlier conversations really started here. Richard, this is blockchain. And this is bitcoin. Right. And that's part of the education. So when we look at blockchain and we dial it back, it's really just a ledger to record ownership that's immutable. [00:12:23] Speaker D: So like an accounting ledger almost. [00:12:25] Speaker A: You nailed it. Right. And so if you start to think about, wow, moving away, fraud, it's immutable. It's forever in immutable. And you can have this ledger that is decentralized. Right? Decentralized meaning many people inputting to validate versus one centralized location. And now, wow. It's a different way to record ownership, of course, many things. And then we could talk about, I know, intellectual property, of course. [00:12:52] Speaker D: Yeah. [00:12:52] Speaker A: You know, homes, artwork, security. So it really, I think has a place. How do you record identity and things of sensitive documents where we've worked with the UN on refugee camps where things have gotten wiped out. How does somebody preserve their identity? Well, immutable on chain. When we look slightly differently at bitcoin, which operates on chain, which is a cryptocurrency, which becomes a stored value that you could transact with. All of a sudden, out of trust became this very valuable instrument that is now being accepted globally. So, you know. Yeah, I think it's kind of transformative. [00:13:30] Speaker E: How is it accepted when the central banks can't control it? Because I was talking to some financial person a while ago and I'm like, yeah, crypto seems a little wild because it's not like the banks have control over it, the government has control over it. [00:13:43] Speaker D: Can I just jump in here for a second? The number one holder of patents around fintech technology, which would include blockchain, is bank of America and number two is MasterCard and then number three is IBM. So all of these companies have deep investments in intellectual property for the blockchain piece. And so maybe it's not the government that's controlling it, but the banks are definitely interested. [00:14:11] Speaker A: I'm so happy you brought that forward, Richard, because you do hear many times this top level conversations from the banks and others that this is bad, we're not involved. Meanwhile writing patents, building stealth departments, trading desks who are trading at it. [00:14:26] Speaker D: Right. [00:14:26] Speaker A: But I do think when you look at it, it's somewhat the beauty of it where it is not controlled by the banks and that the intentionality of being decentralized so it can't be controlled. And some you could still make an argument over earlier days, even within Bitcoin, the concentration of what was called whales of holding, it was, was somewhat centralized, but I think it's the evolution of money. Right. If you, if we think going back, literally we started with wampum and shells and transformed, right. We moved away from those instruments because too heavy to carry sacks of it. Right. Then you meant to a paper based. Then we went to the gold standard. Right. Now it became, it's becoming digital format of accepted currency. And I think over time the banks will be involved because it's here to stay. [00:15:12] Speaker E: So what does that do to gold? There are a lot of people that hoard gold. What does that mean for those people if crypto takes over? [00:15:19] Speaker A: I don't know that it will take over, but I think it will be an adjunct. We're seeing so much the same people who are holding gold as a hedge against inflation are holding Bitcoin. Right. So I think it becomes not only a payment mechanism, it becomes an asset allocation tool as something that. To have a piece of your portfolio. So I don't think it's ever going to overtake gold. Maybe I'm wrong, but it'll be part and parcel of a hedging or portfolio approach. [00:15:44] Speaker E: Wow, you almost have me convinced. [00:15:45] Speaker D: Yeah, let's go buy some bitcoin. It's only like about a million dollars apiece by now, right. [00:15:51] Speaker E: It was worth like thousands of dollars one day and zero the next. And when it was worth a thousand, I was talking on the phone, I'm like, cash it in right now. And he didn't do it. And then it went down to zero. But the stock market does the same thing. It doesn't go to zero, but it has highs and lows quickly. [00:16:06] Speaker A: I think if you approach it, if you're not using it as a mechanism for payment and it's an investment, it's speculative, there's going to be volatility. You're not putting your nest egg in there. That's the approach. And over time, and there's many other cryptocurrencies, as we all know, that are ripe with challenges. So you got to kind of pick and choose and see what happens in some of the early days of the wild West. [00:16:29] Speaker E: To bring this back to entrepreneurism a little, let's say that somebody thought I did something well and they wanted to bring me into their startup and they wanted to pay me in crypto coin, what should I do? [00:16:39] Speaker A: Well, I think if you would ask me that question five years ago and three years ago, I'd probably have a different answer. It really depends which cryptocurrency that you're talking about. Right. Because there are literally thousands globally now, many that are here to stay for a day or two or a month or get into the meme coin game. But I think it perfectly acceptable where you're looking at mechanisms where certainly Bitcoin, Ethereum, Solana, some of the other bigger names that are a bit more stable are being used as payment systems to employees. [00:17:08] Speaker D: I was just going to jump in and when we had some publicity photographs taken for Passage to Profit about three years ago, Elizabeth had us all have our pictures taken in profiles because she was going to have a Passage to Profit coin. We never did that. [00:17:28] Speaker E: I still think we could at some point. [00:17:30] Speaker A: You never know. [00:17:31] Speaker E: You never know. [00:17:32] Speaker D: We're here with Vince Molinari and Richard and Elizabeth Gearhart. 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Secure the benefits you and your employees deserve today. Call now. Rates may Vary based on location and coverage options. 8024-912084-80249-1208-4802-4249-1208. That's 802-491. 2084. [00:19:40] Speaker A: Now back to passage to profit. [00:19:42] Speaker D: Once again, Richard and Elizabeth Gearhart and. [00:19:44] Speaker E: Our special guest, Vince Molinari. We have been talking to him about FinTech. He founded FinTech TV. And back to our conversation with Vince. Cryptocurrency and blockchain. [00:19:57] Speaker D: Where do you see those things going in the next five years? [00:20:01] Speaker A: If I just really thought about that for less than a second. When we look at the ability of technology and engagement, education of individuals, when we begin to talk about what is Web3, right. Web3 is really the decentralized nature of everything and the individuals to have the power of their own identity in a wallet. When you say, when you start to open your mind to that, I think everything changes, right? The power of companies and engagement. I think we're going to engage differently because corporations, to your point earlier, hey, consumers are gravitating to companies that have a good rating on sustainability. It's core to their DNA, right? So now you're going to look at things called NFTs and reward systems that are going to change everything. To say I'm giving a real reward to my consumer for engaging, that's going to change the paradigm I have to. [00:20:53] Speaker D: Jump in here because that's one of my big things, is that all of this AI and all of the Internet relies on information that people are putting onto the web and they don't always get appropriate compensation for that. [00:21:07] Speaker E: I think Kenya pointed this out months ago, maybe even a year ago, when she said that one of the reasons that YouTube, which is owned by Google, as most people know, is taking over the podcasting space is because for years they have figured out how to collect people's data and how to serve up the content to the right people. And the podcasting platforms like Spotify and Apple don't know that as well as Google does. [00:21:31] Speaker A: Spot on. When you get into the artificial intelligence game and the algorithms that are running behind, they may be not going to do something with your data specifically and violate their terms of use, but they're going to aggregate that data to tell a story of where the trends are, right? And now it's a push model versus a pull. So you change the very dynamic. Imagine for the moment that, you know, think about gaming, right? Not too long ago, right? Why did gaming get so successful? It became a play to earn the More time you spent on the game, you got a reward, you got a free lap, you got an upgraded sword. So people spent more time on that game, but they were getting something. I'll tell you, I believe media is going to go immediately to that model. You're going to be incentivized and have a tangible reward in the form of an NFT for consuming passage to profit. It could be all these things. So the engagement is going to change and that's going to change the valuation model of how businesses are valued and funded. [00:22:27] Speaker D: Vince Molinieri, CEO and founder of FinTech TV I really do appreciate your comments, Vince. Very insightful. I mean this is really cutting edge stuff. Time for intellectual property news. Elizabeth, what's going on with that? [00:22:40] Speaker E: We are going to talk about weight loss, specifically weight loss drugs, specifically the quote, miracle drug Ozempic. Well, of course life sciences and drug companies get patents, right? So who has the patent on oic? [00:22:55] Speaker D: Novo Nords does. [00:22:56] Speaker E: Who's trying to steal it? [00:22:57] Speaker D: Everybody who's not Novo Norse. So yeah, I mean that's, this is what happens when you have a successful product, right? Everybody comes out of the woodwork and they're like, oh well, we want to get a piece of this business. And so they do things like challenge the patents and manufacture drugs that are in different countries and they're not FDA approved and all sorts of nasty things happen. But as Elizabeth pointed out earlier, the cost of Ozempic is really, really high in the US and there are so many medical conditions that are caused by diabetes and being overweight. So is it really fair for Novo Nordisk to get all the profits and use their patents for that, you know, leverage? Of course, as a patent attorney who worked in the pharmaceutical, I definitely have a view on that. But I'm also open to other thoughts. So Jesse, what do you think about the situation? You're in the physical fitness business, right? So this is an important topic for you. [00:23:55] Speaker B: I believe that the person that's, or the company that's invented the product should have rights to it. You know, they're responsible. It was their idea. But I definitely think that there should be options for other people to capitalize on the product as well. But most of the majority should belong to whether it be Wegovy or, or Ozempic. [00:24:15] Speaker E: Chelsea Chun Kim if the patent could. [00:24:19] Speaker C: Be probably affordable and they say that I want to take this idea and make it myself more affordable for those who are even in the low class or high class, whatever it may be, maybe, why not? You know, I don't want to say, like take this idea and this is mine in a way, but maybe they're trying to take it in a way where it could be more affordable for those who cannot be hands on. [00:24:38] Speaker D: Vince, what are your thoughts? [00:24:40] Speaker A: This really highlights the unintended initial use of the patent and a marketplace that's driven it out of a price point for its intended use when you get into diabetes. So I do think there's an injustice in that and has to be balanced. But I do think there is a certain level of protection that has to be afforded to the patent holder for the time, effort and risk and the 75 patents that fail in their portfolio that don't work. But there is a balance. And I think we do have to be cognizant of market forces and conditions and going back to the core, using it as a weight loss but also using it as a medical purpose for diabetes. In many cases, if there's a carve out or some way to balance that I think would solve for a lot of issues. [00:25:23] Speaker D: We are sorting it all out. Passage to profit. We'll be back right after this. 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Passage to Profit continues with Richard and Elizabeth Gearhart. Time for Power Move. So, Kenya, what's up? [00:27:35] Speaker F: I say I'm always really excited about Power Move and I always am. But I would say I am extremely proud of Power Move this week because I am dedicating Power Move to the Check In. So the Check in is hip hop's first health and wellness platform that's saving lives and healing hip hop. And I'm working on that with Dr. Joseph Puma of Sora Medical and Maino, who is a rapper in media personality. And we saw all the health disparities that were going on, particularly in communities of color. And what we decided to do is make something happen where we can create a preventative approach where people can come in, get their health evaluated, talk about some of the challenges that they're facing and help alleviate some of the anxieties that happen from us not wanting to go to the doctors and going on. So we're really, really excited about that. We've been working on it for the past four months. Richard and Gearhart Law is our counsel. So don't come for us. [00:28:34] Speaker D: We'll defend you. [00:28:36] Speaker F: We're really excited. We've featured people like Dame Dash, we've had Wallow. We've had Steve LaBelle. So some of hip hop's most iconic people who have already joined and contributed to the platform with their stories. And we're excited. So if you want to check it out, it is going live. You can go to soren medicalny.com the check in and you can check it out. [00:28:59] Speaker E: That's awesome. Well, we went to an event at Soren Medical that you were involved with. [00:29:04] Speaker D: Yeah. [00:29:04] Speaker E: And there was somebody there that she was the person of color that said that he had saved her life, Lady Lucky. But he analyzed her heart or something. [00:29:12] Speaker F: She had uterine fibroids and she actually had had them twice. The first time she had them, she had had a surgery and then they came back. So Dr. Puma was able to help her. And her story is featured on the Check In. You'll hear all about her journey through that and how really Dr. Puma did save her life because she had a hemoglobin of 0.5 and you're supposed to have a 15 if you're like a living human being. So had she not seen him sooner than later, probably would have been a different outcome. [00:29:41] Speaker E: That sounds amazing. Yeah, definitely worth checking out. [00:29:44] Speaker D: And, you know, it's all about preventative care now. It really is, because so much of our medical system is tuned into only fixing people when they're sick, but they don't really help people stay healthy. And so this kind of programming encourages people take their health into their own hands and take care of themselves and head off those things before they become real problems. [00:30:09] Speaker F: And people don't know. They don't know that what's available to them to get screened, to know what's going on. And that's the whole piece. We want to educate and we want to inform Elizabeth. [00:30:18] Speaker E: Okay, time for my update. I have been running this meetup with Stacy Sherman called podcast and YouTube creators community. And we had a meet up last night and talk about entrepreneurship hurdles. Chris Crimson was going to come up and be our presenter. We were doing an only in person, usually we do it hybrid on Zoom, and in person, people were coming to see Chris and we got an email from him the day before that. There were no flights out of Florida because of the hurricane. So we managed to scramble and have him come on Zoom, which worked out really well. People in the room were very disappointed. But he gave such a killer presentation on podcasting. It was just, it was like going to a graduate level course at NYU or somewhere. Like, I mean, the guy knows his stuff so well and he is having PodFest in Florida in January. And if you're interested in podcasting, it's a really fun thing to go to. Richard and I went last year year. So Stacy and I had that meetup and the reason that I wanted to start the meetup was to see if people would want to come and use our podcast studio that Richard and I have been remodeling. We got the carpet laid. Yay. So we're making progress on that. And every time we have the meetup, people want to go see what we've done to the studio next. And I have a few people that want to use it, so I just have to get it done. So enough about me. I want to hear about Butterfly Body transformation from Jesse Ramos, BBT Fitness. Please tell us all about what you're doing, Jesse. [00:31:41] Speaker B: I am the founder of BBT Fitness. I am a Transformative fitness coach. I help busy New Yorkers sustain behavioral life changes to live stronger and healthy lives. However, my clients range from single moms to CEOs. One of my good, really good clients and friend is actually a criminal judge here in New York. [00:32:02] Speaker F: Oh, that's a good PR to have. [00:32:04] Speaker B: So that's what I do. I offer in person and online personalized fitness programs and personal training. I also do meal preparatory services in the health kitchen area here in New York. [00:32:16] Speaker E: Have you ever known what it's like to be overweight and out of shape? [00:32:19] Speaker B: Actually, I, I do. My passion is fitness. My passion is helping people live stronger and healthier lives. Because I used to weigh 255 pounds, I've lost 90 pounds and I kept it off for 10 years. [00:32:31] Speaker F: Good for you. [00:32:32] Speaker E: And you look fabulous. You do. [00:32:34] Speaker B: My mind feels fabulous. And that's when you really, truly unlock your true potential and you feel great. The results come with your passion, the results come with how you're moving. And that's how I found success, especially while I was working in retail banking for 15 years. So being overweight was something that I took a hold of as an adult. [00:32:52] Speaker D: So Jesse, what did you do to lose the weight? And what was your secret? What was your transformation? Losing 90 pounds is a big keeping it off. [00:33:00] Speaker E: Losing 90 pounds, I could lose the weight I need to lose, but I can't keep it off again right back. [00:33:05] Speaker B: It's not easy. I'm not going to sugarcoat it and say it's easy because especially when you start fitness. And what I've discovered working with, with people in their health journey is it's especially when you start. Most of my clients age range are 25 to 60. So when you start later fitness, later in life, it's really hard to grasp and things start happening, things start falling. You also implementing new strategies and behavioral techniques is hard because you're so used to a routine. So what I did was, you know, I started, I'm 38 years old, so I started my fitness transformation when I was about 22. I've always been around fitness. My grandmother Terry, she used to take me on walks growing up because she was really energetic. She was like this tall and she would just take me on these little walks around the city. But then my, my dad and his side, they were into boxing and weightlifting. And then my mom and her husband, she remarried, he was a bodybuilder. So in our home we had all the equipment and I was like, maybe I should start using that treadmill. But I didn't I was not comfortable at a gym. I just started walking on the treadmill. Very simple walking on the treadmill. I lost 30 pounds in three months. It started as me just walking for about 20 minutes, but then as my weight started to peel off, I started increasing the intensity of the walks so I would just be in the back room. I just started walking and walking. And then when I started losing weight, I started becoming more comfortable to go outside of our house and use the weights that were there. I didn't know what I was doing. But then when the weights started coming, I started developing a little more strength. And then things just started rolling from there, and it just became an addiction to me because I loved the way I felt as the weight was coming off. So it took me about 10 years to lose £90. And I did it in three stages. It wasn't. I lost £90 in six months and I kept it off. No, it was three stages. The initial one was £30 in three months. I stayed there for a few years. Second piece, another £25, stay there for another few years, and then boom. And when I started to plan BBT fitness and build my website and come up with the name and the idea behind it, I took it right back to me. And I looked at the life of a butterfly. And if you really study them, there's fascinating insects that become beautiful creatures. They start off as a small caterpillar just wiggling their way. No feet. Just wiggling their way through life. What is going on? What is going on? And then they think, forget this, let me transform. And they go through a really painful, challenging time when they just take charge of their life and they wrap themselves around. They get all the nonsense out of their mind, right? And then they emerge as a butterfly, as a beautiful butterfly. And that is exactly my parallel to my life. It's like a mirror, because that was me. I was the caterpillar. I went through a lot of challenges growing up, a lot of being a gay Latino, growing up in a really small, conservative Catholic community. It was really hard for me to accept myself. And so I had to really take charge of my. My life and realize that, you know what? This is my life. I can't be held back by who I used to be. So, you know, I left California three and a half years ago, and I moved by myself to New York City with the bank. And I said, you know what? When people. People obviously notice my people that know me know I've lost £90. I've always been asked, how did you do it? What's your secret. And I light up talking about fitness because I know I how much it's done for me. So I said that's what I'm supposed to do. I'm supposed to inspire and lead people to healthier and stronger lives. So Butterfly Body Jesse Ramos Jr. Body quit the bank and that's how I came up with the concept. And it's been two years and I've been able to successfully work with over 200 clients. Wow. By myself, that's a big leap. [00:36:50] Speaker E: To go from banking and have 200 clients, that's huge. How did you convince people to work with you? [00:36:56] Speaker B: It wasn't more about convincing, it's just about connecting. And I am very strategic with what I do. I was a top performer in bank. I always was exceeding my goals. Month after month, quarter after quarter I led teams from the west coast to west Manhattan and all of my teams were top performing as well. I always was very strategic in how I'm going to make things happen. So when I, I live in a high rise building here in New York City and we have a very beautiful gym downstairs. Obviously I was, I'm a member of the gym. But I'm thinking, how am I going to get clients? I don't want to work for anybody anymore. That was my main thing. And so I started posting in our bulletin app where I live and just promoting my services. Hey, I'm a personal trainer and just trying to meet the community and building that presence. And also social media has helped me so much. Most of my sales come from social media. About 70% of my sales come from online coaching. [00:37:52] Speaker D: So Jesse, for our listeners who maybe can't afford a personal trainer, what kind of exercises or routine would you recommend for somebody who maybe is looking to lose ten pounds? [00:38:06] Speaker B: For people that want to lose ten pounds and really don't know what to do, I would suggest just starting to walk. To be honest with you, start well. There's so many benefits to walking, especially if you're new to fitness. That's one of the main things that I still do. But also you really need to pay attention because 90, 70% of this is your diet. So what are you eating? Making sure that the foods that you're eating are going to be in line with losing 10 pounds. I work with people and they're like, I can't afford it sometimes. And I'm like, let's, let's dive into it. I want to take it a step further. And then we come up with the plan and we build a routine from there. We Build a program specifically for that client. You know, with my services, you know, I offer different packages. So for pricing. So even if you need that guidance once a month, if that's all you can afford right now, then that one session a month's gonna give you a lot of information. Because ironically, when I was growing up, I wanted to be a teacher. I wanted to teach English. Now I teach people now. You teach? [00:39:00] Speaker F: Yeah. [00:39:01] Speaker D: Kenya's a fitness coach. [00:39:02] Speaker F: And truth be told, I do not like to work out. But I figured out a way to get paid to work out, which is why I love. I mean, I love my people, but, like, when I teach my classes, I have to show up. It's accountability. Right? And that's how it started for. I was like, I couldn't afford a gym membership. I went and got a job at a gym. So, like, it work out. And that's kind of how it all started. But similar to you, you know, like, I found my calling in that. Right. And that you do teach, you do, you know, inspire people. It's almost like a ministry, right? I think sometimes we get caught up in, like, it has to look like one thing. But the people that come every week, I want them to feel like they've accomplished something, and they leave feeling different. So I love what you're doing in the space, because I just feel like everybody kind of needs their own version of what that looks like for them so they can stay motivated. And I wanted you to talk a little bit more about the online coaching piece, because I think that that was a component that kind of blew up during COVID and a lot of instructors kind of fell off a little bit. But I love to hear that you have kept that going as a platform for yourself. [00:40:01] Speaker B: If you follow me at BBT Fitness on Instagram, you'll see that I not only post about physical fitness, because my industry, especially in New York City, is extremely competitive. Saturated fitness, online, Instagram, saturated fitness. So it gave me almost an analysis paralysis type of mentality. With what do I. What am I going to bring to the table? How everybody knows more than me. But on social media, I stand up because I incorporate this as an entire different lifestyle and living an entirely different lifestyle. So I like to think about fitness and living a healthy lifestyle with the four pillars of health. It's your physical health, your mental health, your financial health, and your spiritual health. That's what I promote on my Instagram and off across my social media platforms. [00:40:47] Speaker D: You're obviously gaining a lot of success. What do you see happening in the next Couple of years. [00:40:53] Speaker B: I see potential, I see big, I see global. I see. To be honest with you, one of my dreams is I want to inspire the world. I will inspire the world to take their health and wellness seriously. Because being on the other side is so fascinating. I lost my grandmother last October and it really sparked a second transformation in my life. And now I feel like I'm at the end. That's one of my secrets to success is I always think of what a lesson is. And I think, well, man, people can go see Beyonce at the Madison Square Garden. Like why can't people go and see someone like me or you going to Madison Square Garden and being packed with an auditorium full of people showing them how to move and feeling good and. [00:41:32] Speaker F: Yeah. And it be a lasting effect. [00:41:34] Speaker B: Exactly, exactly. [00:41:34] Speaker F: And no shade to Beyonce. [00:41:36] Speaker C: Right. [00:41:36] Speaker A: But you're going to need 45 minutes. [00:41:38] Speaker F: Of whatever and they're going to leave and be looking for the next thing. Right. When you're exactly what you're saying is true. [00:41:44] Speaker B: Yes. [00:41:44] Speaker E: Jesse Ramos, how do people find you? [00:41:47] Speaker B: Oh, you can find me on my website at BBT Fitness nyc. [00:41:52] Speaker E: Okay. [00:41:53] Speaker B: You can find me on my Instagram BBT Fitness also and my contact information is on there. I'm accepting new clients right now as well. [00:42:01] Speaker E: And we're so happy you joined us. [00:42:03] Speaker D: Passage to Prophet with Richard and Elizabeth Gerhardt and our co host Kenya Gibson. [00:42:08] Speaker E: We get the best people on the show. So we have another incredible person, Chelsea Chung Kim. She's a children's book author. I love the name of the book, Carol the Carrot Bowls for the Salad Bowl. It is such a cute book. So tell us your story, Chelsea. [00:42:25] Speaker C: Well, yes, like you said, my name is Chelsea Chung Kim. I've been an educator for 11 years. I have two credentials. One is more multi and one is single. Prior to this was a math teacher. Yes, I was a math teacher. Turned into a children's book author recently in July I launched my book Carol the Carrot Bowls for the Salad Bowl. It got award winning bestseller and everything like that. You could find out on Amazon. And the problem that while I writing this book, when I was writing my manuscript, I figured out there was a problem with today's society. I don't want to take responsibility. I'm just saying through an educator for 11 years, I've seen it all. I've seen it so much. I saw bullying, separation, hatred, segregation. You can name everything. It happens at school and probably one of us went through that before and everything. I myself went through bullying before just because I'm a Korean American. And I figured out what's the best way we can teach our children to stand up for themselves is to be a leader. Not just a leader in our schools, not to be leaders in our workforce, in our corporate jobs and everything is to be a heartwarming leader. Not to be like a mind to mind person, but a heart to mind. But I want to make sure my message are spread out there, which is why I created this book. It teaches about teamwork, inclusion, diversity, and leadership. So if you guys want to check that out, if you want. I had a lot of testimonies and reviews on, like, my book. They're like, oh, yes, my kid loved it once they read my book. It was about the message. [00:43:59] Speaker F: Yeah, no, I was gonna say when you first I saw the carrot and everybody doesn't like carrots because that was the thing as a kid that we ate that we didn't like. But I think it fits your message perfectly because you're really teaching the opposite of how we should be treating things that we don't understand. [00:44:13] Speaker D: I would never be mean to a carrot. [00:44:15] Speaker F: Right. [00:44:16] Speaker E: Well, there you go. [00:44:17] Speaker F: You're the exception. [00:44:18] Speaker E: You should see the picture of her granddaughter with a piece of broccoli on her tray. A picture teaching kids to like vegetables. I love that. [00:44:27] Speaker C: Yes. That was my strategic. This is like the business side of it. I want our kids to eat healthy food. You'd be surprised what they're eating at school. You can flip your bowl and it doesn't drop and there's oil dripping. That's my reason. I want to teach kids to be the leader of tomorrow's society. Because when I went to every school I taught, I made sure I took time to be in ASB program, which is a leadership program. I used to be in asb, which is student body leadership. I used to be a senior class president. I used to own my own Korean club. I mean, I used to be a Korean club. I own that in every school as possible. And this is my message. I want to be able to have people to be a leader in their school and be a representative, not just hiding behind the chairs or hiding behind the step stool. I've seen students do that because they get bullied because of who they are. I am going to be making a program soon where it's a digital program of teaching about leadership to parents. If you guys want to check out a little bit of sneak peek on that, you guys can check out my Instagram chelseastorynook, where I give tips to parents for free. Like, no cost at all. And I also host my podcast channel called Chelsea Story Nook Podcast, where I am interviewing authors. [00:45:37] Speaker A: Nice. [00:45:37] Speaker C: So parents can have access of what book is appropriate for my kid or what book is this? And this is the platform where I interview authors around the world. [00:45:45] Speaker D: So do you feel that every child can be a leader? [00:45:48] Speaker C: Yes. No matter who they are? I've experienced every single child, no matter if they're Korean, African American, Caucasian. Even my special ed students, when they were coming up to me, they're like, I can't speak. I have a stutter. Can I be a leader? Of course you can. I made her. This is my testimony. I made her go up on the stage and speak whatever she can for five minutes. Everybody gave a standing ovation. Very powerful. [00:46:14] Speaker F: Yeah, yeah. [00:46:15] Speaker C: So anybody could be a leader. [00:46:16] Speaker F: You were talking about empathy earlier and teaching that in leadership, and I was curious to know, did you ever consider writing a carol the Carrot for corporations? Because, you know, as people start to ascend in leadership. Right. Sometimes that level of empathy, like, leaves them. So some people forget, like, where they started, and then now they're managing people, and it's like that operational piece is there to get things done, but then that level of empathy for people is not there. So I just think that there's a need for that. [00:46:43] Speaker D: Well, you know, a lot of our management, a lot of our corporate management comes from the military, and not even today's military, but like the World War II military. [00:46:52] Speaker F: Right. [00:46:52] Speaker D: Where you had to train people to walk into gunfire and potentially get killed. And so there wasn't a lot of room for empathy there. But I think over time, we're learning to organize ourselves a little bit differently and maybe take a more humane approach to management techniques. So this sounds perfect, Vince, to both. [00:47:14] Speaker B: Your comments, and we'll tie it back to this, but that's an excellent idea with maybe writing a book for corporate management, because that's another reason why I decided to leave retail banking, because I was in an elevated position, and I started to get to a point where I was losing empathy for my team. And when I. When I started to realize that I was becoming a little more. And I don't want to say aggressive, because I was always very fair, but I guess a little more irritated. That's when I said, you know what? This is not me. I'm not who you see right now as a happy person. That's me. So I love what you're doing. This is amazing. [00:47:52] Speaker C: Thank you so much. And, yeah, you. You guys actually spoke for my next book, which is a little Sneak peek for you guys. My next series is going to be Touching based on careers and Touching based on hope. So check out my second book. If it's going to come out, it's going to be the Carol the Carrot series. So check on that. [00:48:09] Speaker E: I think it's so creative. Coaching Cucumber. [00:48:12] Speaker C: Oh, you know my characters. [00:48:14] Speaker B: Yes. [00:48:15] Speaker C: Actually, if you guys read my book, all my characters come from my personality. That's the deep, deep symbolism. The main character is me when I'm positive. When I'm positive I can do it. Like, let's just do it. I have a confidence in doing this. And Mandy the Mandarin is the orange character right here is her friend in the end when she picks the team to make it to the team. Mandy the Mandarin is myself as self doubt being sad all the time. Like I don't think I can do it. Like, I don't know. Like you need these two characters together in order to keep on moving. Right. And Coach Cucumber is myself as a teacher. It's actually got bestseller in July and August twice. And I won two awards for this book. Yes. And I got recognized by a lot of like probably 30 teacher influencers rating about this book. My goal is to go this globally. Hopefully I can translate this into different languages one day. Right now it's available audiobooks for those who are having a hard time seeing the book. [00:49:12] Speaker F: So for the audiobook, do you have people doing the voices of the characters or is it just like a straight read? [00:49:18] Speaker C: It's actually one person doing it, but I had a thousand audition for this book. [00:49:23] Speaker F: Okay. [00:49:24] Speaker C: Just to do a audiobook. Yeah. [00:49:26] Speaker F: So you should do an animated series. I would love to be one of the characters I always wanted to be. Well, maybe I'll be the little Mandarin person called Cucumber. [00:49:35] Speaker E: Chelsea Chung Kim, what's the best way for people to find you and find your book right now? [00:49:41] Speaker B: Yes. [00:49:41] Speaker C: On Instagram. You guys can follow me on my author journey and everything I do chelseastorynook and you guys can follow me on website chelstorynook.com and I have a YouTube channel again it's Chelsea Story Nook podcast where I interview authors all around the world. And Amazon. [00:49:58] Speaker D: That sounds like a lot. [00:49:59] Speaker B: Yeah. Where is that? [00:50:00] Speaker E: And the name of the book is Carol the Carrot Bowls for the Salad bowl. [00:50:04] Speaker D: Stay tuned for Secrets of the Entrepreneurial Mind. Back with more passage to profit right after this. I'm Jack, CEO and co [email protected] when. [00:50:14] Speaker B: I left my job as a Wall. [00:50:16] Speaker D: Street banker back in my 20s, I felt completely lost trying to navigate the process of hiring a financial advisor. I thought it should be easy to find the right financial advisor. So I created a place where young families could feel understood and their unique needs would be met with empathy and expertise. That's why I started usehabits.com where we help you find your financial advisor free of charge. Usehabits.com it's passage to profit. Now it's time for Noah's retrospective. [00:50:46] Speaker E: Noah Fleischman is our producer here at Pass Passage to Prophet, and he just has a way of putting his best memories in perspective. [00:50:53] Speaker B: My day as a kid always started with the TV on and every day there was this little feature from the local church with the meaning of the daily word. Well, recently the annual word according to Merriam Webster dictionary was authentic. It used to be little more than a term of embellishment. Now it's fast becoming a classification. Technology is getting better and better at synthetically reproducing what's real. Our landscapes, our objects, our voices. It's opening up a lot of legal and sociological questions. Definitely not our parents world. The best thing we can do in this cyber orbit we live in is to keep our objects, our relationships and our value of them and ourselves as real as we possibly can. We can all be in a virtual room, but let's all be in it together for real now. [00:51:41] Speaker D: More with Richard and Elizabeth. [00:51:43] Speaker A: Passage to prophet. [00:51:44] Speaker E: And now it is time. Four secrets of the entrepreneurial mind. [00:51:50] Speaker D: This is my favorite part. [00:51:52] Speaker E: So, Vince, what is a secret you can share with our audience? [00:51:56] Speaker A: Wow. You know, I think there's probably a couple of them, but I, I would say it's. It is the mindset, right? It's the ability to understand that this is going to be three times harder, five times more expensive and there's going to be collateral damage, right? It is not an easy. Entrepreneurism in itself is difficult. A startup entrepreneur, you have forces that you can't imagine. So you have to really want it and you have to really have this passion to succeed against all odds because frankly, you're crazy to get started in the first place, right? But we do it time and time again. And I know we talked about it earlier, but I have to give a shout out. One of my biggest secret weapons that shouldn't be a secret woman is having women as partners. The more women in an organization, the more women in leadership, the more women on board to have diversity of thought, wisdom of the crowd, crowd intelligence. You have the best outcome as an organization. [00:52:54] Speaker E: You're here. [00:52:55] Speaker F: And we also get Everything done. [00:52:59] Speaker A: That's the other side of my secret. [00:53:00] Speaker B: I don't want to work that hard. [00:53:04] Speaker E: Okay, that was excellent. So, Jesse Ramos, what is your secret? [00:53:09] Speaker B: So my secret is a not so secret because it's. You probably hear this all the time, but this is what has helped me become successful in my life, is to truly chase your passion and believe in yourself. Because the world is against you, you're against yourself. But I found that when I aligned with what I was trying to accomplish, which is helping people improve their lives, that was my mission. I knew I needed to do that and I chased that. That's why when I took a leap of faith by resigning from retail banking after 15 years with zero clients, I knew that that's for me. So when you know yourself, you will continue to succeed in having that. So stay true to yourself and don't let anybody get in your way, especially your own mind, because that's who our biggest enemy is. [00:53:53] Speaker E: Absolutely. Excellent. [00:53:54] Speaker A: Bravo. [00:53:55] Speaker E: So, Chelsea Chongqing. [00:53:57] Speaker C: My secret is for myself. I'm very disciplined person. If you want to start with your own business, be an entrepreneur and everything, instead of writing a to do list, I make an I am list. I am an entrepreneur. I am going to be a best selling author. I am going to be courageous. I am all those lists, I think that is the most important thing is to kind of not trick your mind, but in a way where you are disciplining yourself that you're going to be this person. So if you want to chase your dream, change the to do list to I am. [00:54:29] Speaker A: Bravo. [00:54:29] Speaker E: I love that. Kenya Gibson, what is your secret? [00:54:33] Speaker F: So I would say I think we all need to learn how to leverage opposition. Right. A lot of times we run from what's hard. We run from the nose, we run from the rejection. We don't know what to do with it. But I have learned to become like a connoisseur of overcoming objections and like, no's. And I think that if you can figure out how to leverage those opportunities where it feels like things aren't moving in the right direction, there's always usually another opportunity for you to figure out how to do something another way and get to where you gotta go. So I'm just a really big believer in that. [00:55:04] Speaker E: Yes. Richard Gearhart, what's your secret? [00:55:07] Speaker D: Oh, you know, I was gonna say know your cash flow, but that's not nearly as cool as the things that everybody here said. So I'm gonna go with just have more fun. Right? I mean, because sometimes when you're an entrepreneur, you get so caught up in your own mind. You got so many things to do, you're worried about this, you're trying to make this schedule, and you forget to have fun, which is part of the reason why you were doing this in the first place. So I really think that having more fun and just reminding yourself, let me make this a fun thing to do has a lot of benefits. [00:55:43] Speaker E: I think it's just putting your nose to the grindstone and keeping on going. I mean, during COVID Richard got up, exercised, took a shower, put his suit on and went into the office every day. [00:55:53] Speaker D: I was the only one there, and. [00:55:54] Speaker E: He was the only one there because it was Covid. I worked from home. But, you know, we just kept going. And I think a lot of people did that. As an entrepreneur, though, the lows are a lot lower. [00:56:05] Speaker B: Absolutely. [00:56:06] Speaker D: But the trade off is the potential, right? Yeah, that's worth a lot. Passage to Profit is a nationally syndicated radio show appearing in 38 markets across the United States. In addition, Passage to Profit has also also been recently selected by Feedspot Podcasters Database as a top 10 entrepreneur interview podcast. Thank you to the P2P team, our producer, Noah Fleischman, and our program coordinator, Alicia Morrissey and Rishiket Busari. Look for our podcast tomorrow anywhere you get your podcasts, our podcast is ranked in the top 3% globally. You can also find us on Facebook, Instagram X and on our YouTube channel. And remember, while the information on this program is believed to be correct, never take a leap legal step without checking with your legal professional first. Gearhart Law is here for your patent, trademark, and copyright needs. You can find [email protected] and contact us for a free consultation. Take care everybody. Thanks for listening and we'll be back next week.

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