00:02.850 --> 00:06.900 Johny Fernandez: Hey, what's going on everyone? I'm Johny Fernandez and this is deBanked News Live. 00:06.990 --> 00:08.610 Sean Murray: I'm Sean Murray. Welcome back. 00:08.730 --> 00:14.400 Johny Fernandez: And today is a very special day, which is why we're wearing green. I like your coat. 00:14.640 --> 00:17.070 Sean Murray: Thank you very much. Is that is that green? 00:17.100 --> 00:17.910 Johny Fernandez: That is green. 00:17.930 --> 00:18.950 Sean Murray: Okay, it's dark green. 00:18.950 --> 00:21.290 Johny Fernandez: Because it's St. Patrick's Day. 00:22.520 --> 00:23.180 Sean Murray: I'm excited. 00:23.210 --> 00:30.050 Johny Fernandez: I am excited. We have a lot to talk about today, including why this I claim this is green. Even though you claim it's not 00:30.050 --> 00:30.470 green. 00:30.470 --> 00:34.400 Sean Murray: I think it's more like a like a dark army green. 00:34.460 --> 00:35.390 Johny Fernandez: Okay, I'll take it. 00:35.420 --> 00:37.400 Sean Murray: Okay. All right. Yeah, you get the credit. 00:38.110 --> 00:46.570 Johny Fernandez: Hey, that counts. So before we talk about Ireland, and all that good stuff, let's talk about one thing that has been all over 00:46.570 --> 00:56.080 the internet is about Manhattan versus Miami. And the reality of whether, as many Manhattanites have actually moved to Miami. So there's 00:56.080 --> 01:04.330 actually a new article that was posted on Bloomberg. And it explained that not as many New Yorkers left New York City to go to Miami, as it 01:04.330 --> 01:11.500 seemed, because obviously, we were down in Miami, we've seen what's going on there. We've talked to many different people. But in the 01:11.500 --> 01:24.940 article, it's strictly said that only 2,246 people filed their permanent address change from Manhattan to Miami Dade County, and only 1,741 went 01:24.940 --> 01:34.360 to Palm Beach County. So I think it's really interesting. Another point that they said is about 3,987, New York residents packed up shop and 01:34.360 --> 01:45.250 flew to south for the COVID winter never to return. But that's only about 5% of the total of 70,000 people that moved to New York City last 01:45.250 --> 01:52.240 year. And that is definitely some interesting numbers. Because I think, from what we've been seeing everyone here New York City/Manhattan was 01:52.240 --> 02:00.040 talking about leaving the city, and just going back to going to Miami and forgetting everything The city has to offer and enjoying the sun. 02:00.460 --> 02:09.340 But in reality, it kind of looks like this may be similar numbers to what the city usually experiences when snowbirds leave New York City to 02:09.340 --> 02:17.590 go to the south. But I think as you and I have both seen that people are starting to come back and realizing that, like Jerry Seinfeld, he said 02:17.590 --> 02:23.530 that, you know, you can go enjoy Florida, because at the end of the day, Florida is just Florida. 02:23.600 --> 02:32.480 Sean Murray: Yeah. Right. Well, we've mentioned that there's been a like a migration previously, but we kept saying it with anecdotal. I kept 02:32.480 --> 02:39.050 hearing that everyone was moving, but I never saw the stats. Like they're like, you know, Sean, everyone is here. Everyone's moved down. 02:40.370 --> 02:49.700 And I don't think that information was false. People did move, right? And that's, that's only for two counties. So those are those are 02:49.730 --> 02:52.160 probably two of the main counties 02:52.160 --> 02:53.450 Johny Fernandez: In South Florida. Yeah. 02:53.450 --> 03:00.600 Sean Murray: Right. In Miami Dade is doing or Miami, the city is doing all it can to attract people down there. But, you know, as you 03:00.600 --> 03:07.980 mentioned, the data has shown that there is already a migration of New Yorkers moving to Florida every year anyway. And not just from the city, 03:07.980 --> 03:15.030 but also from Greater New York State is actually a very popular retirement move. Right. A lot of New Yorkers, when they retire, they tend 03:15.030 --> 03:21.270 to move to Florida. And so there there was there was we don't have the 2020 census data. 03:23.700 --> 03:24.840 Johny Fernandez: Yeah, cuz it's obviously too soon but 03:24.840 --> 03:34.950 Sean Murray: Yeah, I, you know, I'd be interested to compare the 2020 census data versus the data that Bloomberg compiled. Because I think he 03:34.950 --> 03:45.150 just mentioned in 2019 it was something like 38,000 or something. 38,000 New York residents, the whole state, not just the city in 2019, before 03:45.150 --> 03:56.100 the before COVID moved from New York, down to Florida. Now, not from not the city to Miami, but New York State to Florida. Right. And so that was 03:56.100 --> 04:04.020 before of COVID. And that's kind of established that there's already been movement there. So we hear the number would you say 2200? or 04:04.020 --> 04:04.410 something? 04:04.410 --> 04:05.670 Johny Fernandez: Yeah, 2,200. 04:05.730 --> 04:07.140 Sean Murray: 2200 was the total... 04:07.900 --> 04:13.840 Johny Fernandez: That permanently had that address changed from Manhattan to either Palm Beach County or Miami Dade County? Yeah. But I 04:13.840 --> 04:21.850 think it's something interesting like Erin, the Chief Economist with NestSeekers, something that she told us is that the prediction is not 04:21.850 --> 04:30.040 that pretty much New York and Manhattan is going to shut down but is that what we're going to see is that change of either having a permanent 04:30.040 --> 04:38.800 address change, having something permanently there, but also so having something here in New York City, having kind of a bi coastal life, you 04:38.800 --> 04:45.880 know, for having the benefit of getting more bang for your buck down there, and then people also having the benefit of living in the city 04:45.880 --> 04:53.380 because, I think you and I both know, like living here. At the end of the day. The reality is that there's nothing like New York, even though 04:53.380 --> 05:00.640 people try to replicate like I've lived in Florida so I can speak from firsthand. There's a lot of things that try to be replicated in Florida, 05:00.640 --> 05:09.430 but unfortunately, it's not the same. Like this is the truth. You get more bang for your buck, hands down. But I think a lot of people 05:09.640 --> 05:15.040 probably will realize in that Florida, like Jerry Seinfeld said, It's just Florida. 05:16.990 --> 05:25.420 Sean Murray: You know, it's interesting, though, because that Bloomberg data is talking about a people who have changed who have filed a formal 05:25.420 --> 05:36.880 change of address. And we haven't really gotten to a full year yet. You know, of COVID. It's been one year now, since 14 days to slow the 05:36.880 --> 05:46.120 spread. And I think, for those who decided to move to Florida or Miami, they didn't get that idea until later on in the pandemic, right. And so 05:46.120 --> 05:54.670 it's been less than a year that they lived there. Now, I would expect that for a lot of people, they might be using that time to gauge whether 05:54.670 --> 06:02.440 or not they want to permanently live there. Right. It's it's, you know, it's it's a cultural change. It's an adjustment. And I don't know that 06:02.440 --> 06:09.970 people were running out and saying, I permanently have moved just yet. I think they wanted to wait and see whether or not they whether or not 06:09.970 --> 06:19.090 they like Miami as a permanent home and how long COVID was was going to last because we're coming up on a mass vaccination now. They're talking 06:19.090 --> 06:26.470 about opening up New York City again. And you know, you mentioned it before, like, people are like, you know, hey, let's get this party 06:26.470 --> 06:30.010 started up again. I mean, like, let's say, let's stick around. Why, why do we want to leave? 06:30.010 --> 06:39.450 Johny Fernandez: Yeah, and I think something that we noticed when we did the interview down in Miami, is that the culture in Miami, when you go 06:39.450 --> 06:47.280 to Miami and you start living there, they don't adapt to you, you have to adapt to them. Everything that goes on in Miami, and even though 06:47.280 --> 06:57.390 there is, you know, a big movement, and people are living in Miami now, but at the end of the day, I kind of like we said, people are realizing 06:57.390 --> 07:06.270 that once a vaccine started kicking in and the city starts to open up, people are gonna end up coming back in one way, shape or form, like 07:06.270 --> 07:14.250 whether it's part time or full time, or like you said it really gazing, what's really going on down there to see if it is the right fit for 07:14.250 --> 07:22.140 these people. Because at the end of the day, the reality is, if you go down there, and you can see that it's different visiting for a week, 07:22.230 --> 07:30.480 month, versus actually putting roots and living there are two completely different things. It's, it's a culture shock. 07:30.540 --> 07:37.980 Sean Murray: Yeah. So you know, before we go out and say, Hey, the migration wasn't what we know, we were saying or what people were saying 07:37.980 --> 07:44.190 it was, I think we should wait to see the census data. And I think we should actually wait another year or two, before people who have 07:44.190 --> 07:51.150 actually moved but haven't formally filed a change of permanent address or anything like that. I think we're not going to know for like, another year or two. 07:51.150 --> 07:53.400 Johny Fernandez: Yeah, I agree. 07:53.400 --> 07:55.740 Sean Murray: But, you know, I like Miami and New York. 07:55.770 --> 08:04.050 Johny Fernandez: Yeah, I like both. But I think for me, too much sunshine, and people don't understand once that Florida heat summer 08:04.050 --> 08:06.870 comes kicking around. I'll come back to New York. 08:06.870 --> 08:12.450 Sean Murray: Yeah. That's what people have been saying. Like, you know, you like Miami when you go there in January. But are you gonna like it in July? 08:12.450 --> 08:21.090 Johny Fernandez: In July. Where it's literally, like you go in your car it's hot as an oven. It's pretty hot down there. 08:21.090 --> 08:22.500 Sean Murray: But you have to drive a car down there? 08:22.500 --> 08:23.130 Johny Fernandez: You actually do. 08:23.160 --> 08:25.650 Sean Murray: Nah, forget it. Forget it. It won't work for me. 08:25.710 --> 08:29.160 Johny Fernandez: I haven't driven a car in almost two years. Yeah. It's crazy. 08:29.310 --> 08:31.200 Sean Murray: I didn't drive a car for 10 years. 08:31.260 --> 08:33.570 Johny Fernandez: That's crazy. Living here in Manhattan. 08:33.600 --> 08:38.940 Sean Murray: Living in the city. I mean, you didn't need a car and I never thought about, I never thought about it. And literally never even 08:38.940 --> 08:39.600 thought about it. 08:39.870 --> 08:45.510 Johny Fernandez: Yeah, I don't. It's crazy to me, like I don't think about like getting my car and I'm like, oh, it is what it is. 08:45.510 --> 08:51.870 Sean Murray: It's expensive live in the city. No doubt. But when you have no car insurance, no gas, no repairs, no maintenance, you know, no 08:51.870 --> 08:59.490 car payment, like that. significantly reduces the cost, but you still have to pay for mass transportation. But it doesn't cost as much as you 08:59.490 --> 09:00.360 know, maintaining a car. 09:00.390 --> 09:09.420 Johny Fernandez: Yeah, for sure. So speaking of moving, speaking of movement, Sean, let's talk about the movement that's going on from the 09:09.420 --> 09:14.190 FinTech world and the business in regards to Europe and North America. 09:14.270 --> 09:23.810 Sean Murray: Sure, yes. Well, it is St. Patrick's Day. Right. And coincidentally, a report came out. Just a few days ago. It was a report 09:23.810 --> 09:31.040 prepared by an organization that makes the FinTech, Ireland maps, actually, the organization is called the FinTech, Ireland. And they 09:31.040 --> 09:41.300 prepare a map every year that list out all the indigenous Irish FinTech companies that are in Ireland, and they also put out one that list all 09:41.300 --> 09:49.820 the international companies that are doing business FinTech company that are doing business in Ireland, and that report just came out on 09:50.510 --> 09:58.190 literally just two days ago. On Monday, and they had a big zoom call to where like 400, 500 people were on the call and had a lot of leaders 09:58.190 --> 10:07.040 from Irish FinTech companies. That even some members of the government were on the call. And they talked about FinTech being a priority in 10:07.040 --> 10:14.660 Ireland to develop the infrastructure and economy of Ireland, but the reason it's relevant, right? Because like, so why it's Europe? You know 10:14.660 --> 10:24.170 what I mean? The reason it's relevant is that the FinTech company there, were given a survey. And they were asked, Where do you see as your 10:24.170 --> 10:35.450 priority for expansion? Right? And Ireland is a the small country, there are only about 4.9 million people in Ireland. I think New York City is 10:35.450 --> 10:37.070 like almost 9 million people. 10:37.220 --> 10:40.490 Johny Fernandez: So half of New York City. 10:40.490 --> 10:49.720 Sean Murray: That makes up the whole country, the whole Republic of Ireland, and you know that, so there's only so much they can scale 10:49.840 --> 10:57.940 there, right? And when Irish companies are typically asked, Where do you intend to expand, the UK naturally comes up, because it's right there. 10:58.210 --> 11:07.300 And because the UK had a really big market, you know, a strong economy, big financial services market, etc. And when they were asked this time 11:07.300 --> 11:17.200 around the UK came in as number two. And I thought that was that's interesting, right? And number one was the United States and Canada. 11:18.040 --> 11:26.830 Apparently, Irish companies, Irish, indigenous Irish FinTech companies are looking to the United States and Canada as their number one priority 11:26.830 --> 11:27.610 for expansion. 11:27.700 --> 11:31.180 Johny Fernandez: Is there anywhere specific in the states that they're looking at? 11:31.930 --> 11:38.500 Sean Murray: Well, I mean, I imagine it wasn't really asked, but you know, it's, I think New York is going to be a natural, a natural place 11:38.500 --> 11:45.520 for that. So we were just talking about New Yorkers going to Miami, right? And you have, we're gonna have Irish company that are looking to 11:45.520 --> 11:55.990 move to the States. And obviously, New York is going to be a primary destination for a lot of them. And so they have about 250 or so 11:55.990 --> 12:04.570 indigenous FinTech companies in Ireland, and a lot of them are lending related. And a lot of them are paying payments related. So when we talk 12:04.570 --> 12:11.350 about FinTech that can mean anything like wealth management, or cryptocurrency and all that stuff, but a significant number actually in 12:11.350 --> 12:20.890 the payments and lending space. And it made me think about that market as a whole just a few years ago, because Ireland is primarily an English 12:20.920 --> 12:28.990 speaking country. And most people don't know this unless they've been there. But it's only like a six hour flight from New York. 12:29.020 --> 12:35.860 Johny Fernandez: So it's so it's pretty much we will get to Ireland faster than going and getting, hopping on the plane and getting to 12:35.920 --> 12:36.700 California. 12:36.810 --> 12:42.990 Sean Murray: Yeah, you know, it depends because you know, which way you are going. And all that stuff. But yeah, it's only like a six hour 12:42.990 --> 12:51.720 flight to Dublin. So it is like going to California. And it's so it's close in perhaps we're already going to California, right? It's close in 12:51.720 --> 13:01.650 proximity. It's English speaking. It's developed, and they have a FinTech market. And so it got me curious about two years ago, because 13:01.650 --> 13:10.620 you can read all about it. But you know, you it real you got to see for yourself, right. So I actually went to Ireland two years ago, or maybe 13:10.740 --> 13:19.020 18 months ago, because it was it was in the fall of 2019. And I said, I want to check out the FinTech market for myself. And I set up a lot of 13:19.020 --> 13:22.320 meetings there. I didn't just go, you know, to the pub, and all that stuff. 13:22.320 --> 13:23.400 Johny Fernandez: Just hang out. Yeah! 13:24.150 --> 13:32.100 Sean Murray: I set up a lot of meetings there. And I met with some FinTech executives. And I think I actually took a selfie video of me 13:32.100 --> 13:36.630 going to one of those meetings in Ireland, maybe we can pull that video up and take a look. 13:36.630 --> 13:37.320 Johny Fernandez: Take a look. 13:40.300 --> 13:48.010 Unknown: Right now we're in Dublin, and I'm actually on my way to a FinTech Ireland event. The first thing I've learned here is that banks 13:48.040 --> 13:56.710 are slow, and borrowers are looking for speed. Big shock. I've also found out that there are business loan brokers here, much like they have 13:56.710 --> 14:06.550 in the US and in Canada. Actually, earlier today, I actually met with Rupert Hogan, who owns businessloans.ie. And it's amazing how similar 14:06.760 --> 14:13.810 what he does is compared to everybody else that you may be familiar with. Right now. I'm on my way to that event. We have a few more 14:13.810 --> 14:20.560 meetings lined up, and we'll keep you posted with all the coverage of Ireland when we get back. But until then, Ireland is the real deal. 14:22.760 --> 14:28.610 Sean Murray: Okay, You know, what's funny about that video is here I am showing a video of Ireland. I think a lot of people probably expected to 14:28.610 --> 14:38.960 see, you know, the sights and the sounds. But it was apparently it was just me talking into my cell phone saying I'm going into a meeting. But 14:39.050 --> 14:47.270 that was that's kind of like what Dublin is like it's a it's a very business like atmosphere. In many parts of it. In fact, there is a 14:47.270 --> 14:55.820 center within Dublin that is being called, it's like their Silicon Valley. They're calling it Silicon Docks. And when I was setting up my 14:55.820 --> 15:08.090 meetings in Dublin, I noticed that a lot of them were within the same, the same same perimeter or whatever, around this little harbor. And so 15:08.090 --> 15:12.140 it was really easy. Because I can just go from one building to the next to the next. 15:12.140 --> 15:13.970 Johny Fernandez: Because everything was in that main circle. 15:13.990 --> 15:19.090 Sean Murray: Everything was in that main circle, right? Because the scope on the spot to this spot to this spot, yes, spot. And what's funny 15:19.090 --> 15:27.400 that people, because I was setting up all these meetings, people were bumping to each, like, I would meet one person from one company, and we 15:27.400 --> 15:34.660 would be going to a cafe or wherever, or whatever, and they would see their colleagues or rivals walk in the other direction. You know, 15:34.660 --> 15:42.310 they're doing little waves and stuff like that. And it really, you know, it really showed me that there was this area was really like, you know, 15:42.310 --> 15:48.880 there was camaraderie and that there was energy. And that they were all building something. Because even competitors were doing, you know, 15:49.180 --> 15:50.470 they're doing a little wave. 15:50.500 --> 15:52.510 Johny Fernandez: Yeah. It's awesome. 15:52.540 --> 16:02.980 Sean Murray: Yeah. And, you know, it's Europe. And so people say, Well, how similar is it? Right? Sure. They have they have lending there have 16:03.010 --> 16:12.520 have lending in every state, but I was surprised to find they also have a small business lending market there. Although I, you know, they call 16:12.520 --> 16:25.360 SME instead of SMB. Right. And they even have a merchant cash advance there too. And so you actually have companies, funders in Ireland, that 16:25.360 --> 16:34.810 are providing capital to SMEs? All throughout all throughout the Republic of Ireland, and that I even met a loan broker. Yeah, a business 16:34.810 --> 16:42.070 loan broker. We talk about brokers on the show all the time. And I actually met a broker there. He owns he actually owns businessloans.ie. 16:43.420 --> 16:45.310 Yeah. So it's like a premium domain. 16:46.660 --> 16:55.330 And what does he do? He brokers, SME loans, and merchant cash advance? And I'm like, Well, how do you? How do you merchant cash advances work? 16:55.330 --> 16:56.470 You know? Are we talking? 16:57.670 --> 16:58.780 Speakers: [cross talk] 16:59.410 --> 17:04.960 Sean Murray: Are we talking the same language? Yeah. And he literally breaks out like the sheet of paper. And it's got like factor rates, and 17:04.960 --> 17:11.170 all and all that stuff. And he's talking about taking a percentage of receivables and debiting accounts and withholding, you know, credit card 17:11.170 --> 17:13.570 payments and all that stuff. It's the exact same thing. 17:13.570 --> 17:17.170 Johny Fernandez: It's a parallel universe. Yeah. But it's the same thing in Ireland. 17:17.170 --> 17:26.720 Sean Murray: It's the same, it's the same thing. And that was, I mean, that was a shocker. To me, to be honest with you. But I think what it 17:26.720 --> 17:34.610 should tell us that, some people want people like being like, Oh, well, does that mean, we should relocate to Ireland? Right. And not many 17:34.610 --> 17:40.790 companies do that. And that's because Ireland, it's such a small population, right. So they look at the potential market size. And I say 17:40.790 --> 17:47.900 it's less than 5 million people. You know, once you know, it's like, half the size in New York City. Does it make sense to base of operation 17:47.900 --> 17:58.340 there? I don't think that's the takeaway. I think the takeaway is that Irish companies are looking outside of their homeland for where they can 17:58.340 --> 18:08.900 expand to, and they've said that the US and Canada are their primary areas for expansion. And because they are English speaking, they operate 18:09.110 --> 18:17.750 in much the same way they're doing what we do. I think that we may actually see an influx of these type of companies coming here and 18:17.750 --> 18:24.500 actually setting up setting up shop. you know what I mean, like, we might not even notice it. Notice it at first. But that's on their, like, 18:24.530 --> 18:33.920 top priority list. In fact, we talked about it before Stripe. Strip is, you know, co founded by two Irish brothers. Now their company is worth 18:33.920 --> 18:35.810 $95 billion dollars. 18:35.810 --> 18:42.770 Johny Fernandez: Billion. that's crazy with a B. Billion. So let me ask you this. And I'm curious to know, you may have the answer. You may not. 18:43.790 --> 18:53.210 So, number one choice being America being Canada. Where does the London fall on lists? I'm curious to know. 18:55.100 --> 19:02.750 Sean Murray: So it's such a good question. And, you know, we evaluate international markets here quite a bit here at deBanked. And we don't 19:02.750 --> 19:10.520 always report on them. But we do look into that. We written about the Australian market a little bit. We have written about the UK market. 19:10.550 --> 19:19.190 We've written about Mexico. So we're looking at all the different markets out there. And you know, London is, you know, the big city in 19:19.190 --> 19:32.240 the UK. And the UK is a very established market for FinTech very mature market. It, it's, you know, at the same level, the US in terms of 19:32.480 --> 19:37.910 maturity. You know what I mean, like, they're not they're not just they're not like behind. You know what I mean, they're not figuring 19:37.910 --> 19:45.980 things out. They have, they have it all figured out. It's highly competitive. And their path was a little bit different than the US and 19:45.980 --> 19:55.670 that peer to peer lending, which is essentially gone here. continued on in a pretty strong fashion. Look over over in the UK. In fact, a lot of 19:55.670 --> 20:06.860 the peer to peer lenders got the government to financially back the loans that they were making. In the US we talk often about regulation. 20:06.920 --> 20:17.930 Yeah. And how to kind of hope that they how to prevent, or you know how to come up with a strategies so that the government doesn't restrict, 20:18.590 --> 20:25.520 you know, innovation and online lending all that stuff here. But over there, the government really embraced it. And they really helped 20:25.520 --> 20:31.220 fostered it. And they actually invested in the companies there. 20:32.540 --> 20:41.990 Johny Fernandez: Yeah, it's interesting. Also seeing just in general, how the FinTech industry is growing in Ireland. And just I know, you 20:41.990 --> 20:49.520 don't, you don't usually think, you know, when it comes to FinTech, that Ireland would be this emerging market versus other places in the world. 20:49.520 --> 20:55.280 But, I mean, there's how many companies right now in Ireland that are part of the FinTech movement? 20:55.280 --> 21:02.528 Sean Murray: Yeah, I mean, so the number, the number on the FinTech Island map, it was 240. I want to say with a 247. I don't remember the 21:02.588 --> 21:11.141 exact number. Now that number actually, if I'm not mistaken, reflected all of Ireland, the island in that I think it counted Northern Ireland, 21:11.201 --> 21:19.813 which is actually part of the United Kingdom. And the population there is pretty large, even though it's just the top part of the island. But I 21:19.813 --> 21:27.884 think the takeaway is still that, you know, the 240 numbers probably just a little bit lower for just talking, just talking about the 21:27.944 --> 21:36.376 Republic. And there's, that's FinTech. I think financial service firms. I think I think the maps are there were 10,000. Right? So people say 21:36.436 --> 21:44.868 that's very small, right. That's it for FinTech. But how many FinTech companies do we have here? Right? That are seriously FinTech. And they 21:44.928 --> 21:53.360 are they really tried to itemize it out. I don't think that was like, you know, quote, unquote, fintech. Yeah. Because they're not counting 21:53.420 --> 22:02.093 traditional financial service firms. From what my understanding is they have around 10, 10,000. You know, one similarity that Ireland has to 22:02.153 --> 22:10.405 the Canadian market is that they only have a very small number of central banks that kind of dominate the whole country. And so if you're 22:10.465 --> 22:18.475 a, either a business owner or consumer there needing to borrow money, you're your options are quite limited. You can't go to like 300 22:18.535 --> 22:27.028 different banks. You know what I mean, it's just like, basically just one or the other. And so that's kind of where the FinTech companies and 22:27.088 --> 22:35.700 the online lenders there have kind of come in to bridge the gap. Because it can be hard to get a loan otherwise. And so that's been kind of the 22:35.761 --> 22:44.072 kind of the secret to the success. And also, I think, from what I understand, they're also trying to work with those banks. Actually, when 22:44.132 --> 22:52.624 I was there. I was at a FinTech, Ireland meetup. And there were bankers there. Like, you know, like, from like, the main. And they were 22:52.685 --> 23:01.237 looking at ways to partner or incorporate the things that the FinTech players were doing. You know, they don't they don't want to be looked at 23:01.297 --> 23:09.307 as not helping, you know, the local economy and stuff. So it's, it's pretty collaborative. From what I've seen, and it's I think it's kind of 23:09.368 --> 23:17.679 special that this news came out just around St. Patrick's Day. Some people. Some people actually thought that the stripe announcement that 23:17.739 --> 23:25.870 the $95 billion valuation million dollar funding round, came out days ahead of St. Patrick's Day, for St. Patrick's Day that they 23:25.930 --> 23:30.990 deliberately waited day right before St. Patrick's Day. I don't know if that's true. 23:30.990 --> 23:34.000 Johny Fernandez: Yeah, it could be. We'll never know. 23:34.000 --> 23:39.730 Sean Murray: Yeah. We'll never know. But you know, so the one takeaway of that is Ireland had the real FinTech market. People think people 23:39.730 --> 23:47.740 think the UK all the time. Or people Oh, Canada, Mexico, you know what else? Ireland, Ireland's a serious contender, and their primary 23:47.740 --> 23:52.330 expansion place is here. So keep an eye out for Irish companies coming to the US. 23:52.330 --> 24:01.660 Johny Fernandez: Yeah, that's exciting, exciting to see, I think once post pandemic, how that will change and how we will see probably, you 24:01.660 --> 24:10.180 know, people actually being here and then vice versa and us taking things out there. So it'll be exciting. It will be exciting. So Alright, 24:10.180 --> 24:15.010 Sean I'm excited for today. It's gonna be a great day Happy St. Patrick's Day to everyone out there. 24:15.550 --> 24:16.780 Sean Murray: This is where we say Sláinte. 24:16.870 --> 24:17.380 Johny Fernandez: Sláinte. 24:17.380 --> 24:18.730 Sean Murray: Yeah, we don't have any drinks though. 24:21.550 --> 24:23.740 Johny Fernandez: All right, well, Sláinte. How do you say cheers? 24:23.860 --> 24:24.460 Sean Murray: That's how you say. 24:27.940 --> 24:28.810 Johny Fernandez: Alright, well. 24:29.620 --> 24:33.610 Sean Murray: Alright. Yeah. So thank you for joining. I'm Sean Murray with deBanked Happy St. Patrick's Day! 24:33.700 --> 24:35.320 Johny Fernandez: And I'm Johnny Fernandez with deBanked. 24:35.500 --> 24:36.160 Sean Murray: Sláinte. 24:37.920 --> 24:38.850 Johny Fernandez: See you guys next time.