• 00:00:36 How Julio's entrepreneurial journey started?
• 00:06:29 How do opportunities for entrepreneurs in Africa stack up currently?
• 00:13:45 How knowledge based and digital content businesses are faring in coastal African countries. How staggered access to digital innovations delays opportunities outside of the US.
• 00:20:48 How to find early adopters for your startup? Can you find them in a 'non early adopter market'?
• 00:24:35 What is the 'correct idea' of a risk-taking entrepreneur?
• 00:29:01 How will we get to nine billion brains and innovating entrepreneurs in the future?
• 00:36:34 How will we deal with the enormous amount of 'cultural download'? How difficult is it to identify opportunities?
• 00:40:14 How do we identify and allocate future revenue streams (that look more like TV/film royalties)? How do we stabilize resource allocation for micro entrepreneurship?
• 00:45:01 Why the 'platform economy' is a short term 'trap' for most entrepreneurs. But is it a good intermediate stage?
• 00:54:01 How do we set the right framework and incentive to encourage and foster entrepreneurship (as an example in Mozambique).
• 01:01:01 Is valuation the only USP of an investor? Are secondary variables more important?
• 01:04:01 Is negative or positive motivation the 'better motivation' for creating the desire to 'improve the world'?
• 01:09:10 What are the best countries to invest in in Africa? Do the 'nation states' even matter much?
• 01:16:15 Is Crowdfunding a solution to the funding problem of African startups?

You may watch this episode on Youtube - Julio Maria Muhorro (Tales of Entrepreneurship in Africa).

Julio Maria Muhorro is an entrepreneur and business coach based in Mozambique and South Africa.

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Julio, thanks for coming to the Judgment Call podcast. We really appreciate that. Thank you so much for having me. I'm so excited to have this conversation with you, man. Hi, same here, same here. We spoke a couple of months ago, and we were just chatting about that. There were a couple of things we really wanted to talk about, and you are a very successful entrepreneur. You're quite young. You do all this for Mozambique, and now you're in South Africa. Maybe you tell us a little bit about yourself, and what really motivated you to become an entrepreneur so early in your life? Sure. It all started for me when I was just about to graduate for university, and I realized I didn't have a job afterwards, like many people. One of my friends, he was already an entrepreneur doing some transportation business, and he wanted to go into developing short term courses. He had all the entrepreneurial experience, but he knew nothing about academia, per se, or knowledge based businesses, but there was my jam. I was a lecturer at a university to help pay for my scholarship and my fees, and the university I was studying in, and my parents were teachers. Education and knowledge based stuff was really my jam. We joined forces and we started this company out of scratch, two young people, and I remember we really went over what we thought it was right, because I had no experience developing courses. My experience at the time was just delivering courses. I remember I had to Google how to build a session plan for a workshop and stuff like that, but then in three months, we trained almost 600 people in total. For you to think this is like a startup that no one heard of, and the key of our success early in the stage is that we were quite doing a lot of interactions with the market. We did all the research piece, we asked students what they wanted to learn, we kept their contact details, so when we launched the courses, we sent them SMS and all that stuff, and the energy was just cool and vibe. I mean, I was giving teachings and classes like eight hours a day, and I didn't want them to be boring, so I really made sure that it was interactive and fun, and people really appreciated. From that place, back in the days in Mozambique, business mentors, advisors, there was not even words we were used to it. It was at a time in the business where I felt I was making good decisions, but I wasn't making great decisions, and I just didn't know how I could make that leap. It made sense to me to get a job while my co founder was still running the business, and that's what I did. I joined them as a mechanical company called Idea Lab. They are major in supporting entrepreneurs in a more of ecosystem level, so they work with different stakeholders to support entrepreneurs, and they work with entrepreneurs directly with trainings, with events, with advisory, and I joined them to work on marketing, and then because of my background, I became a business advisor and mentor to the startups and a trainer. In two years into that business, they invited me to launch the very first business incubation program in Mozambique, so there for me was huge because I was usually the generation that heard that, well, you should start businesses, you should do stuff, but we just don't know how young people, we just don't know how to do those things, and I was given the chance to be in a place where I could help other young people to follow their dreams, so they were super cool, and in two years, their business grew, and for me, what was growing was this sense that I should be able to do more, like I wanted to do more, I wanted to explore the world, I just didn't know how back again, and it really went home when I was in Bahrain in the Middle East, we were doing a speaking engagement there, the Global Entrepreneurship Congress, which is one of the biggest entrepreneurship events in the world, and after speaking, this bunch of one up guys, they come to me and like, Julio, can you just have like a small talk with you after, you know, the big session, we really want to get deep into some stuff, I went there, we talked with them, and I remember the guy told me like, Julio, now I know what I need to do with my life and my business, like, I have, I'm clear, so clear, deep down, I was just feeling empty, like, I was literally just showing up, I was so depleted, because I knew I wanted to do more, and I wasn't doing it, that it was really starting to, you know, down, way down in my productivity and stuff, so that led me to launch my current business for Knowledge International, where we focus on helping entrepreneurs and executives directly, by offering power coaching, training and speaking engagements, and for the corporates, we offer them knowledge consultancy, so we help them harness the power of knowledge of their people, so they can start growing their business from a place that really feels good to them. There was a very long story, the shortest I could tell you. I mean, this seems that a lot has been going on, and, you know, you have your own venture, you already worked with an incubator, and now you're doing your second venture, so this is also what I think a lot, including me, and a lot of people are interested in that is, you know, Africa is kind of, as a bigger destination, and then Southern Africa, Sub Saharan Africa, is always hailed as this enormous potential, and we, in terms of investment opportunities, and in terms of what knowledge based business models could do for the large population, and I had Daniel Gross on who runs a completely virtual incubator pioneer, and he's had a lot of investments that he did in South Southern Africa, but also including Nigeria, so there's a lot of potential. We sometimes, it's hard to grasp this, right? It's a big population, its connectivity is increasing quite nicely. The last time I was in Mozambique, what was interesting for me was I was in Maputo, and most of the internet connections I could get out of hotels, or coffee shops were really slow, but then I just tapped into LTE, and it was like a hundred ambit everywhere, all over the countryside on our holy smokes, so I didn't see that coming. I was super fast and super cheap, it was like a dollar for a gigabyte. Anyway, so there seems to be a slightly different way that each country obviously goes, and maybe it's a different kind of connectivity. What I'm trying to get to, when you look at the opportunities that you see for entrepreneurs, how does this stack up, and I know you've been awarded one of the most prominent entrepreneurs in Africa a couple of years ago, give us an insight where you feel these opportunities are real, and they may be just made up. For sure. I guess we need to start taking a step back, and just put Africa in a bit more of context for our listeners. So the first thing is that when you look at the world map, you see this huge chunk of land altogether is Africa, and unlike other continents like Europe or America, or North America or South America, even though it's a continent, it's all together, we couldn't be more different, even though we have so many similars. So that's the first point, and each country has slightly different nuances in terms of cultures, and what people value, and what type of business can flourish. But something that I found that's quite different from African markets than we have from any other markets, it's how mobile our money is. I mean, if you look at countries like Zimbabwe, they really don't have yet money anymore, and they just use mobile money. And mobile money, it's not like you transfer yourself on PayPal, it's the money that is associated with your mobile phone. So you can transact using your mobile phone. That's a huge difference from the rest of the world when it comes down to Africa. And the original Bitcoin, right? It came from Kenya, right? Yeah, yeah, from Kenya. First, I forgot the name to be, what is it called, in Kenya. I forgot the name. I forgot, but in Mozambique and Tanzania, it's in PESA right now, and it's owned by Vodacom, or Vodafone in other countries. I think that's the one, the original Bitcoin, or the African PayPal. It is, it literally is. And I guess Molotov foreigners, they sort of get stuck with that, like how is it possible? That's one of the main differences. And the other difference is, in terms of logistics, even though it's our all continent, and you will think that, well, it will be so cheap and easy to travel and, you know, travel only people, but also, you know, merchandise, or stuff, travel around the continent. That's not the case. So there is a lot of opportunities and challenges within logistics per se. But to really go to your point, Africa is literally the land of opportunities. What you really need to do to tap into those opportunities is start looking at them from the lenses of the local people, right? So Africa has this whole story of, you know, being colonized by different European countries, and then people finding their independence back again, and then with globalization, we're trying to sort of like align the rest of the world. It's very important that as someone that comes from outside Africa, or even just a different country within the continent of Africa, that you allow yourself to have the empathy with the locals and understand what they're coming from, and what really matters to them. And they will say it's the main reason why a lot of foreign investors, they fail when they come to Africa, is that they try to replicate, you know, either based on the weather, because the weather in subparts of Mozambique can be compared with California, and they think that the same way people operating in California in the US is going to be the same way they're operating in Mozambique. So no, there are opportunities, but really look at them from the perspective of the locals. Yeah, yeah, absolutely. It's interesting that you mentioned the weather. I think that's when you think about a couple of episodes ago, we talked about impact investing. When you talk about pure agriculture investments, I think those are something, when you think of enabling local farmers, have organic products, those are investment ideas that are very popular. I don't feel they are, they're not easy to pull off, let's put it this way, because of the issues you just described. It's possible, I know there are stories in Malawi, for instance, but it's hard to scale them, so you end up with relatively small farms, and it's a patchwork, and logistics is a huge issue of getting anything out. For instance, I was dreaming to become a nuts farmer in Malawi. I talked to a couple of people in Malawi, and they have those, what is that called, the really high nuts, oh my gosh, I forgot about those. Anyway, so this is another one. It's grown in Hawaii. Macadamia? Macadamia, yeah, sorry, couldn't come up with the name. No worries. So there's a big internal market for macadamia nuts, so there's a bunch of farms over there, it's very fertile grounds, but getting those macadamia nuts, and it's apparently extremely cheap to grow them, compared to anywhere else in the world, but getting those nuts out was incredibly difficult, because even just small quantities like the FedEx or UPS, which are present, it was a logistical nightmare. So sooner or later, you can get them for one fourth of the price that you're waiting for, if you have even small quantities and their high quality. So if something is missing in between, this missing link is something you just look at certain variables, and then, well, I gave up becoming a nuts farmer in Malawi. Maybe this was a good idea, or maybe not. I still love the idea. But you know, there's also something both mentioned. So for those who doesn't know, Malawi is a country that sits almost in the center of Africa, so there's no straight link from any port or shore to Malawi, unless it's the Lake Malawi, and it's a huge lake, but then it's a lake, it's not the sea, you don't have connections to other places in the world. They're making hard for logistic companies to really work on, that's one, and also there is the whole political tension, and I guess the Lake Malawi is a great example. So it's one lake that in Malawi, it's called Lake Malawi, in Mozambique, where I'm from, it's Lake Nyasa, which is the province that the lake sits on, and in Tanzania, it's Lake Tanganyika. So there is a lot of this ownership over different African assets, I'll say, and sometimes it can be hard for all the countries to agree. One of my clients is working to build a railway, they were supposed to connect Malawi, Mozambique, and Tanzania. But even then, we don't have a railway link in the entirety of Mozambique, for instance, in the same country. So yeah, there are challenges in that, but also there are opportunities on how we can be creative in building those bridges and building those links. Yeah. Well, one thing I feel that strikes me as coming with great potential and relatively limited challenges is digital content. So the internet connectivity has gone up quite a bit. The last time I was in Akra in Ghana, I probably hit the fastest internet, I was like 3, 400 mbit in any random location, I'm like holy smokes, what is this? Because they probably have this new undersea cable that just goes through on the location where Akra is, and it's close to the sea. So that was great to see, and it's a very English speaking population with very high levels of English proficiency. And I was thinking, well, you can start from call centers, but also producing content, we all think about the YouTube world, right? We think about premium content you can actually sell. I thought, this is easy because, well, all you need really is fast internet access, and from then on, you basically just keep going from there and find premium. Obviously, you can do this for the local market, but with the connectivity, you can also do this for the non local market. And that seems to be where Indian Bangladesh is really taking off. They have been doing this for 20 years and they seem to be successful. I don't know how billions, how big these businesses have gotten, but they seem enormous to me from what is visible to me on the internet. It's not something I see so much that has taken off yet that my change or is already changing in coastal communities in Africa. Yeah, 100%. And I see a rising of knowledge based or really just online essence based business that I'm going to call it that way. And I actually have examples. So here in South Africa, there is this comedian called Lassizwe. So he managed to, he has a million and a half followers on Instagram, if I'm not mistaken. So basically, he's all comedies around the different tribes in South Africa and the main ones being the whites, the collards, and the black. And he always have like, you know, how will a black mom react? How will a white mom react and stuff like that. And it's very relatable in South Africa and some of other African countries. But he has grown so much in such a short period of time because of the digital, as you mentioned. But then I also got a chance to meet Elsa Majimbo from Kenya. So she now has two million followers and she collaborated with people like Naomi Campbell, Big Brands, Valentino and stuff. And her like comedies more around, you know, people not showing up on time and more of like international stuff. So that even though her and Lassizwe did start quite on the same time, because one is like targeting the world, you know, more general stuff, she was able to grow a bigger audience. So there is this growth happening there and associated with that there is a growth of personal brands and knowledge based companies happening as well. And I guess the most challenge or what entrepreneurs really struggle here in Africa is deciding if they want to stay local, if they want to go national or global. Because unlike many other countries in the world, at least in Europe or in America, we don't have just one language in African countries, right? We have many languages, usually one or two are the official languages. So there's a ton of languages too, right? But whatever. I think the general issue oftentimes seems to be, and that's always the issue obviously in a content based economy, is how do you monetize it, right? How do you develop it from a free product into a premium product or a decent premium product? And that's always really hard. That takes a lot of money, it takes a lot of resources to get there, right? Because you need to challenge, you need to know what customers want at what point of time, so they are eager and interested to buy into it. And, you know, Netflix is probably the best example. Early on, we're bidding with a lots of money for those content rights to stream in different countries. And they had it per country, and then they changed it, and then they didn't want to go international, and then they only wanted to go international. They changed every couple of years, right? And this is a good example where obviously it's foreign content, and it's very expensive content, but still, it's a good example where they also changed the way what they charge. So it's about $10, $14 a month in the US, but I know in France and Mexico, it's only like $5. I don't actually know what it is in Kenya, but they figured out a way to price it for each individual country. And that's obviously the, you could start local, you know, if obviously nobody can bid for Hollywood rights, you know, Musk can help us, but there is always content that's that's bringing people are ready to pay for if you find that audience, right? So if you find an audience that has enough of a pain point, so to speak, that doesn't have too high enough opportunity, because so they actually pay for your content. Yeah, and I will say that in the end, really, it becomes comes down to the revenue model you want to have in your business. So, you know, you can go in models where you charge the beneficiary, the end user, but you can also have sponsors or corporate clients, they pay you so that you can give your product and service for people that actually need, but cannot afford it. So you can be quite creative. And I think this point ties back with your investment point. Because something that I found, especially with a foreigner starting to come to invest in Africa, is the sense of is the knowledge and the trust on the knowledge people are presenting to them, you know, and being able to really rely on the partner, because usually you cannot fly in and out every time, or, you know, their language barriers and it is just the local context that as a foreigner, you don't know, but the locals might know, and they might be able to build the bridges to help you out. So I guess, yeah, it comes down to the revenue model and how you just monetize your trust in general, you know, the social capital you're bringing and you want to bring in your company. Yeah, not everyone can be like Mark Zuckerberg and launch a couple of balloons, right, to bring the internet to Africa. And, you know, when you look at it now, it looked kind of, it looked good on paper, right, it was a good PR stunt. But when we now look at Facebook, it's this weird spying machine that he wanted to get to everyone, right, because it's Facebook traffic that he wants, he doesn't care about the other services. Yeah, and being honest, when you're open a conversation, I was actually talking about how Instagram is disrupting markets. Because usually people look at, you know, governments disrupting markets, developing governments, you know, from Europe, coming to Africa to disrupt the market again, and we forget how corporations do it. And I was talking about if you have picture to entrepreneurs, like doing the same business, let's say they are in photography, and they all have 2000 followers in December 2020, the entrepreneur in the US, let's say he is in Florida, he get access to reels, he's able to crazy expand his reach, not just in a local level, but in international level, that will probably mean that he will have more followers and probably more money after six months, while the entrepreneur in Mozambique didn't have access to real in the first place. And I understand the difference or the tailoring made by location, but we're talking about a digital product. And what's worse is then when entrepreneurs have access to reels, you won't have the magnified exposure anymore. So literally, you see a corporation completely disrupting international markets, even though it's a digital company. So therefore, location shouldn't be a problem unless the person doesn't have access to internet, but still you see it happening. Yeah, that's a really good topic. When we see these big platforms, obviously, it's kind of they're all made like a pyramid scheme, right? So you want to be in early, and then you have the biggest benefit. And then as long as later you come, it's more like you're your dad consumer. So you're not getting the two way traffic that you want. It's basically you just you're liking someone else's post, nobody will like your post, right? So it's for the for the narcissists, you want to be really early in that game with that eventually pays off. You notice narcissism entrepreneurship, maybe that's a little too little too harsh. But building your personal brand, you want to be early in those markets and that often this can be a challenge. I think it's also a cultural challenge, right? So I grew up in Germany, and they are generally they rather be late adopters, so they don't want to be early adopters in anything. They're good at being late adopters, and then really excelling at building perfect products. But if you have with this mindset, then it's it's not good to be early, because the product hasn't doesn't have this maturity yet. So as an entrepreneur, it's really difficult to sell early adopter products, it's basically impossible. So say we have the same the same product is the same example you just made. And say it's a software product and targets early adopter early adopter companies or consumers. It's really tricky to get an initial critical mass in Europe, it's almost impossible. And I think the same probably applies to a lot of African markets. But the same product in the same sales pitch will get you a million customers in the US, because there's so many early adopters here, right? And they will test it, they will like it or they think it's crap, and then you will never go anywhere. But at least you have that potential and then you roll it out globally. But you don't have that option. I think a lot of Israeli companies have found that niche, they develop their tech business role, because they know how to develop tech, but they know there's no there's very small country. And it's they're not exactly super early adopters from a marketing perspective, they are in terms of hardware technology. So what they've done, they've basically just said, we're never going to market it here, we just have the back end here, and we just do all the marketing in the US. And if it works, it works in the US, and then we roll it out in Israel. So even if a lot of products developed in Israel are not even available, unless you have a VPN, there's always a way around it, but they're not directly marketed to Israeli customers. And I totally relate with that. I mean, my first 100 coaching customers, they are all from US, Canada, and the UK. I mean, for many reasons, the early adoption is one of them, but also the the, you know, the buying power, right, like people in the US and Europe, they're using dollars and euros. And the amounts that I feel my work is being honored, I mean, it will probably take six months for the regular moves and become to be able to afford a one hour session with me, right. So even as an entrepreneur, I had to work around my mindset and understanding that, you know, if I am finally able to charge what I really deserve from my high paying clients, I can then build initiatives that really support the entrepreneurs that need support, but they cannot afford it. So that's one that's super important that you mentioned that. And when it comes down to Africa, I feel most people just assume that people are not early innovations because they don't want to be early innovation, which is not true. Usually what happens is that there is so much risk associated with that early innovation that I actually prefer to see it validated, you know, and proof bulletproofed before I can afford to take the risk. And it's actually something that I do my best to entrepreneurs is even when it comes down to investing. If you're coming from a background where you feel you cannot take that much risk, don't gamble about, you know, on how much you can make, really choose your affordable loss, right. So I usually say to entrepreneurs like you have an idea, you want to validate it. How much are you willing to lose? Let's say you try it out and you figure out that the business doesn't work for you, or doesn't work at all. How much are you willing to invest and lose? Chances are you're not going to lose that money, you're going to learn something from it and sometimes even make the money back. But just having that mindset that it's not about how much you're going to win, but how much you're willing to lose, just give you that piece of mind to start making the steps to break the poverty cycle. Does it make sense for you? Yes, I mean, yes. Obviously, I think that that's that's why it's a good topic. Your your league as into is, you know, what I think entrepreneurship has gotten a lot of this, that the word entrepreneurship people immediately think of the Silicon Valley type entrepreneur, right, that needs billions of venture capital. And this venture capital obviously is a very trend following. So they invest into a trend and they want to get out of this investment as soon as possible, definitely within the next two or three years, if they can, right. So it's kind of this soft bank idea that you have to have this massive one billion dollar minimum, that's kind of their minimum now, right. And they can invest up to 10 billion in the start of like, think about rework, nobody knows why they invest that much money, but they must have a plan, right. So someone has a plan at soft bank, I hope, I don't know. We hope we hope people can do whatever they want with their money. But I'm trying to say this, but I agree much more with NASA talent subscription of entrepreneurship, which is really the individual risk taker. So what we want is an as as high as possible, ideally, 20, 30, 40, 50% population is an enormous way bigger than what we see right now in the description as entrepreneurship. And we don't want necessarily a company that has hundreds of million dollars of venture capital or any kind of capital infused into it. For me, that's not a startup. What I want is the entrepreneur who goes out just as you said that earlier, who goes out validates an idea conviction of his or hers, and then runs this against the market and sees what comes out of it. And yes, most of them will still fail, this will not change. But this risk that someone took will solve a big, small part of that equation, but it adds up to a bigger, bigger, bigger equation for the whole population. And the whole population benefits because they then realize, oh, well, this is how this is how good this specific thing can be solved. Right. So when we think about how good digital solutions have gotten, how good the iPhone has gotten, this is possible, but iPhone's maybe not a good example. But because it's too centralized. But if we all go out and do our, do contribute to the betterment of the world, right, of society, then it really adds up. So this wave of entrepreneurship multiplies throughout the society. The problem obviously is, how do you convince yourself to take this six month off, this 12 month, right, to say, well, you know, I'm already living in squalor, so to speak. So I really can't afford to do this. But I think this is really doesn't really matter how it's a routine mindset, right? It's, it doesn't really matter how poor you are, how you can afford it. It's, okay, there is something on the other side that A helps me, but also B has a huge upside. And this is why I should start now. And I think this is so difficult to get this motivation pinpointed for entrepreneurs. And I often feel the public initiatives, like government initiatives, they don't really do much about that, like they want to, but they don't really, it's important to have the opportunities. It's you want to, you want to look more to the outside than, okay, you're covered for the next six months. That's my personal point of view. That's obviously very difficult to instill in people. 100%. And being honest with you, you know, all my work is based on the concept that success is 80% internal game and 20% external game. So the 80% you have your identity, your mindset and your energy. And only then you work on the strategies, you're going to change the context, which is the 20%. And I like to give this laptop example to people. It's like, when you want to buy a computer, you get to choose between a Windows based or a Mac based computer, right? That's the identity of a computer, the hardware and the software. But then if you buy the brand new Mac book on earth, you still need to install some programs to make it run and work for you and do whatever you want, like Adobe Photoshop, Zoom, whatever it is. And that's your mindset. It's all the beliefs that you have and all the programs that are running in your mind that allows you to show up in the way that you want to show up. And then going back to the laptop example, if we have the most expensive laptop in the world, with all the premium programs installed, eventually you need to connect it to a power source, otherwise it will die out. And that's how you see the entrepreneurs trying and going back and giving up and try it again and giving up. But the thing is, if you work on upgrading your identity and updating your mindset, so you can start shifting your energy to create the strategies and implement them becomes way more easier, compared if you didn't have that prework done before. And I always say, like, everyone knows that if they want to lose fat and be muscled, they need to do three things, sleep right, eat right and exercise right. And if you grab your phone, you're going to find a professional to help you out. So why is not everyone in their optimum fitness level? I was asking the same thing when I was managing the business incubator, where we actually had pretty good success rates, like 80% of people increasing revenue, and at least 70%. But then my question was, what was wrong with the other ones? They didn't made it. They had a great idea. They were actually showing up. What was wrong with them? And then only when I found that is all this mindset piece that is missing when it comes down to entrepreneurship, that gets people blocked. If you go and Google entrepreneur images, you're going to see people on their suits in New York, as you mentioned, in Silicon Valley. And that's not the true of what really being an entrepreneur really means. And a lot of my work, especially with early stage entrepreneurs, is just break all those false belief systems and really start helping them create their own definition of entrepreneurship and understand how they can play full out. And also associated with the concept of you need to quit your job to start your business. And that's not true. Especially if you're starting out, you do want to be accountable and responsible with your time and your money. And like 99% of the times when you start a business, it doesn't need a full time employee. Even if you put all your hours, do you still need to give the market some time to give you feedback so you get to interact and keep moving forward? Yeah. I like what you just said. I think this is very very motivational. What I hope we're going to see is really 9 billion people, 9 billion brains, to generate one unique idea and market that with India and each. And hopefully we're going to see this in the next 50 or 100 years. And in the end, what happens is you do a succession of different projects or events. Alexander Bard would call them events. So the event is less than a company. So the company is, you know, you have HR, you hire people, and it's all just nonsense. Nobody wants to do anymore. So an event is you create something that can be like an idea, it can be a product, it can be a website, it can be an app, whatever that is, and you get traction either. And generally, it's some viral kind of route, right? People for whatever reason love what you're doing. Now, the hit rate is pretty low. You cannot assume just because you're smart, intelligent, you're going to have 100% hit rates. Now we're going to have, right? There's tons of other people going for the same market. But if everyone just does a succession of these events in his life, in her life, and what's so cruel about this is it will be a going viral if it makes sense, if it's productive, right? If it saves the problem, that's real for very, very low cost. And we would have access to 9 billion super apps, right? That's someone else, bro. That's kind of in my mind. Now this won't be apps, right? There's going to be AI, it can be any kind of algorithm, can be any kind of backend software. But if you get to this level to never have to repeat the same thing, and the same workflow that we do every day that we are all bored of. And now we have this problem in the US that many, many labor jobs, there's just no labor anymore, right? So this is very difficult. And I feel like what is a good thing, right? I want people to get out of this and get into something creative. Obviously, we still, we probably have to solve with automation. But we would all be so much better off because we all would make so much more money if we adopt this mindset in my mind. Obviously, you got to get some payoff. That's obviously the problem, right? So with all these, say you do 100 of these events in your life, right? So one a year. But if your payoff comes on average of the 50, what do you do in the first 50 years? You're going to be really poor because you literally have no income. So and I understand that you can keep your job. And that's great. I think this is great. Otherwise, you don't have to do this full time. But you have to come up with 100 unique ideas that could become a product. And I think this is what we should teach our children. And this is what, the market is global immediately. So that's, that's, I think it's this wonderful incentive you said earlier. If you have enough bandwidth, you have the same market access in, I don't know, in Mombasa than anyone in Silicon Valley, there's literally no difference. And that's such a great incentive. Like you did the millions of dollars right in front of your keyboard, so to speak, right? It's obviously there's more to it. It's not that easy. But that's the mindset that I would love that our children have and our young adults, and then I think they have this with Bitcoin, right? Bitcoin, but it's a maniac, it's a bubble. But that's really all going to because we say, well, why don't I buy some calls on Tesla because I just downloaded Robinhood and it's $500, maybe it's going to make me a million dollars, maybe not, but that's okay. 100%. And I guess the main thing for me is as we're changing mindsets of individuals is like one of the reasons why I'm so obsessed over power is that my understanding is that the world is not a better place yet because there's so many people struggling with their own relationship with power, right? So you have people in positions of power, but they're not in tune with their own power. So they're doing this horrible stuff trying to protect themselves and have a safe life, completely ruin over the life of countries and nations, sometimes even entire continents because of that egoistic and fragile state they are right now, right? That's one thing. And the other thing that I always state my entrepreneurs is that you need three pillars to build your legacy, whatever that means like for you, right? If you're talking about long term or generational wealth or just living a life you love, you need to focus on your income, in your impact and your integrity, meaning that and most people think that it's either one or the other, which is not, but you need to have your bills paid as a human being, your basic needs, and you have to have all the money that you need to build the life that you want to have. But the thing is that money most probably going to come if you are really in tune and connected with your impact you want to create in the