1 00:00:00.390 --> 00:00:03.720 Sean Murray: Okay, we're back is Sean Murray again on deBanked TV 2 00:00:03.720 --> 00:00:06.540 live. We had some internet difficulties, but we're back 3 00:00:06.540 --> 00:00:08.730 online. I'm here today again with Allison Berger. 4 00:00:09.210 --> 00:00:11.130 Allyson Berger: Happy to be here. You know, it's a Monday. 5 00:00:11.220 --> 00:00:14.910 Not everyone's had enough coffee yet. So even though it's noon, a 6 00:00:14.910 --> 00:00:17.820 little afternoon, some of us take a little more time to get 7 00:00:17.820 --> 00:00:18.630 going in the morning 8 00:00:18.660 --> 00:00:20.820 Sean Murray: Yeah, I would like to do a few takes anyway, even 9 00:00:20.820 --> 00:00:21.420 if it's live. 10 00:00:21.510 --> 00:00:21.990 Allyson Berger: Well, 11 00:00:22.020 --> 00:00:22.710 Sean Murray: Keeps it interesting, 12 00:00:22.740 --> 00:00:24.990 Allyson Berger: Yeah, you know, making sure you're really paying 13 00:00:24.990 --> 00:00:29.190 attention. So funny. Well, Sean, you were just about to ask 14 00:00:29.190 --> 00:00:30.780 about how my weekend was? 15 00:00:30.840 --> 00:00:33.240 Sean Murray: Oh, right. Was I? Okay, well, how was your 16 00:00:33.240 --> 00:00:33.660 weekend? 17 00:00:33.720 --> 00:00:37.170 Allyson Berger: My weekend was great. I went to my old 18 00:00:37.170 --> 00:00:40.680 neighborhood in Manhattan, and I walked around for a little bit. 19 00:00:41.010 --> 00:00:44.700 And, you know, there's this weird in between feeling where 20 00:00:44.700 --> 00:00:49.920 it's really sad and heartwarming, at the same time 21 00:00:49.920 --> 00:00:53.250 in a really weird way, because it's walking around, and it's 22 00:00:53.250 --> 00:00:56.700 like, oh, my favorite restaurant isn't here anymore. The nail 23 00:00:56.700 --> 00:01:00.090 salon I would go to, isn't here, the coffee shop, all these 24 00:01:00.090 --> 00:01:03.510 little small businesses that I would love to go to on a regular 25 00:01:03.510 --> 00:01:07.440 basis, aren't there anymore. And it's just so heartbreaking to 26 00:01:07.440 --> 00:01:10.830 see because, you know, you have memories at these places. And, 27 00:01:10.950 --> 00:01:13.710 you know, people want to say in New York City isn't dead. And 28 00:01:13.710 --> 00:01:16.470 you know, there are people out and about and doing things 29 00:01:16.470 --> 00:01:19.710 because what we've been cooped up for so long that we want to 30 00:01:19.710 --> 00:01:24.150 be out. But I think it is sad to say a little dead in the sense 31 00:01:24.150 --> 00:01:25.920 of businesses being gone. 32 00:01:25.990 --> 00:01:27.910 Sean Murray: Yeah, you know, Manhattan has kind of had that 33 00:01:27.910 --> 00:01:30.970 issue for a while with retail anyway, they already had the 34 00:01:30.970 --> 00:01:33.730 reputation of having a lot of a lot of apartments that were 35 00:01:33.730 --> 00:01:37.420 filled. But a lot of empty storefronts. And I think it had 36 00:01:37.420 --> 00:01:40.540 to do with landlords, this is from what I heard that 37 00:01:40.540 --> 00:01:43.210 landlords, they didn't want to reduce the rent, because that 38 00:01:43.210 --> 00:01:45.940 would decrease the kind of the benchmark for the neighborhood. 39 00:01:45.940 --> 00:01:49.090 So they'd rather the retail space go unrented even for a 40 00:01:49.090 --> 00:01:52.480 long period of time, and wait for a tenant that will sign a 41 00:01:52.480 --> 00:01:55.690 long term lease at the price they want it. Now it seems kind 42 00:01:55.690 --> 00:01:58.660 of counterproductive from an economic standpoint. I'd rather 43 00:01:58.660 --> 00:02:01.450 have somebody fill the space, you know, versus keeping a 44 00:02:01.450 --> 00:02:04.630 dormant but it's already that was already an issue. But it's 45 00:02:04.630 --> 00:02:06.250 now doubling, tripling. 46 00:02:06.310 --> 00:02:06.790 Allyson Berger: Bigger issue 47 00:02:06.790 --> 00:02:09.880 Sean Murray: Yeah bigger issue, than before. But, you know, you, 48 00:02:09.940 --> 00:02:13.510 you were just saying that, you know, it seems kind of dead. But 49 00:02:13.630 --> 00:02:15.580 in terms of like, you know, the foot traffic and all that stuff, 50 00:02:15.580 --> 00:02:18.610 I think has certainly gone up. I don't know if it's just people 51 00:02:18.610 --> 00:02:20.380 who live around the area, or whatever. 52 00:02:20.380 --> 00:02:22.559 Allyson Berger: I think in the more residential neighborhoods 53 00:02:22.559 --> 00:02:23.470 Sean Murray: Yeah, that's true. Yeah, I was just walking around 54 00:02:23.613 --> 00:02:25.744 of Manhattan, you see more people because people are still 55 00:02:25.798 --> 00:02:28.928 working from home. So you're gonna see more people out and 56 00:02:28.982 --> 00:02:32.275 about in those areas, because they're no longer commuting. So 57 00:02:32.329 --> 00:02:35.622 on a regular Monday, when you know, the grocery store or your 58 00:02:35.676 --> 00:02:38.915 local bodega restaurant, what have you, is usually empty and 59 00:02:38.969 --> 00:02:42.370 you have space to get around it. There's no lines, that's going 60 00:02:42.424 --> 00:02:45.878 to be a little different now in a very residential neighborhood, 61 00:02:45.878 --> 00:02:46.630 in a residential neighborhood in Manhattan, just last week, and 62 00:02:46.932 --> 00:02:49.225 because people are home, they can take breaks when they want. 63 00:02:49.279 --> 00:02:52.626 They don't have to worry about just doing their errands at the 64 00:02:52.680 --> 00:02:54.300 end of the day. They're there. 65 00:02:59.660 --> 00:03:04.430 it was already significantly more crowded than it was a month 66 00:03:04.430 --> 00:03:08.660 ago. Yeah. Where if you had not told me that this, there was a 67 00:03:08.660 --> 00:03:11.810 pandemic going on, I probably would not have noticed. I mean, 68 00:03:11.810 --> 00:03:14.660 aside from the empty retail storefronts that were that were 69 00:03:14.660 --> 00:03:17.810 noticeable in terms of just the activity and the energy. And 70 00:03:17.810 --> 00:03:21.020 sure people were wearing masks, but the pure volume of people, 71 00:03:21.020 --> 00:03:22.760 it felt somewhat the same to me. 72 00:03:22.940 --> 00:03:24.260 Allyson Berger: Well, it also helps that the weather is 73 00:03:24.260 --> 00:03:28.430 getting nicer. People want to be out, they don't want to be stuck 74 00:03:28.430 --> 00:03:31.580 in their small apartment. And, you know, people are doing 75 00:03:31.580 --> 00:03:34.130 things, but I think this is a good, you know, seeing these 76 00:03:34.130 --> 00:03:37.820 things and seeing people out and about, you know, correlates to 77 00:03:37.820 --> 00:03:40.880 what we're seeing lately with in the financial industry and 78 00:03:40.880 --> 00:03:44.900 businesses with these bullish signs that are going on. Don't 79 00:03:44.900 --> 00:03:45.500 you think so? 80 00:03:45.530 --> 00:03:48.950 Sean Murray: I totally agree. Yeah. And what we just talked 81 00:03:48.950 --> 00:03:52.610 about was very anecdotal. But I think anecdotal evidence is 82 00:03:52.610 --> 00:03:56.990 still a good way to evaluate how you should proceed forward. 83 00:03:56.990 --> 00:03:59.870 Because if the data is telling you one thing, and you walk 84 00:03:59.870 --> 00:04:02.930 outside and see something totally different, then you 85 00:04:02.930 --> 00:04:06.440 know, maybe you should question just using the data alone. And 86 00:04:06.440 --> 00:04:08.540 so it's good that people like you, and I have seen it for 87 00:04:08.540 --> 00:04:12.680 ourselves, right. I have heard also anecdotally, from those who 88 00:04:12.680 --> 00:04:15.470 work in the business finance industry, that they have noticed 89 00:04:15.470 --> 00:04:19.400 an increase in sales activity at businesses around the country 90 00:04:19.400 --> 00:04:22.610 that started about a month ago. Now, I don't know if that is 91 00:04:22.820 --> 00:04:25.190 because of you know, vaccinations are starting to 92 00:04:25.190 --> 00:04:27.920 kick in or because it's springtime and people feeling 93 00:04:27.920 --> 00:04:30.950 more comfortable. You know, going outside kind of like last 94 00:04:30.950 --> 00:04:34.760 year, he couldn't keep people in. Right? And so I have heard 95 00:04:34.760 --> 00:04:39.620 that sales activity and economic activity is definitely picking 96 00:04:39.620 --> 00:04:43.100 up and then you take that information and you compound it 97 00:04:43.100 --> 00:04:46.430 with some of the recent headlines we've been seeing out 98 00:04:46.430 --> 00:04:51.440 there. For one example, is a a business lending and MCA 99 00:04:51.440 --> 00:04:55.640 provider called Fora Financial, they had they just recently 100 00:04:55.670 --> 00:04:59.120 raised a very large credit facility like 100 million plots, 101 00:04:59.150 --> 00:05:02.000 right? So this isn't some small little credit line, a little 102 00:05:02.000 --> 00:05:06.110 deal. This is a financial institution that is showing a 103 00:05:06.110 --> 00:05:07.340 lot of optimism. 104 00:05:07.770 --> 00:05:08.550 Allyson Berger: Most definitely, 105 00:05:08.580 --> 00:05:10.050 Sean Murray: I mean, you don't just put out, you know, you 106 00:05:10.050 --> 00:05:13.920 don't just give away $100 million credit facility and not 107 00:05:13.920 --> 00:05:15.840 feel totally confident. Right? 108 00:05:15.870 --> 00:05:19.530 Allyson Berger: Right, they must see the growth and the need for 109 00:05:19.530 --> 00:05:23.520 businesses wanting to start up again and wanting to take over 110 00:05:23.520 --> 00:05:27.030 these empty spaces and get back to work. Yeah. And they're not 111 00:05:27.030 --> 00:05:29.640 the only one that has done something like this. 112 00:05:30.170 --> 00:05:31.700 Sean Murray: No, they're yeah, they're not the only one. Right? 113 00:05:31.700 --> 00:05:34.130 So that's just one company. And you're like, Well, you know, 114 00:05:34.130 --> 00:05:36.410 does that really say a lot about the whole, so they're just one. 115 00:05:36.680 --> 00:05:39.770 And I think Fora actually had the ability to expand that 116 00:05:39.770 --> 00:05:42.440 credit facility up to like 150 million. So there was even a 117 00:05:42.440 --> 00:05:46.040 little, you know, caveat there that they could even expand it 118 00:05:46.040 --> 00:05:50.270 to something larger. We have also heard that a ccompany 119 00:05:50.270 --> 00:05:56.030 called, IOU financial, they're headquartered or they're 120 00:05:56.060 --> 00:06:00.230 publicly traded in Canada. But they're headquartered in the US, 121 00:06:00.680 --> 00:06:05.240 and they for what I can tell were suffering pretty greatly 122 00:06:05.240 --> 00:06:21.740 during the pandemic, because they're public we're able to see 123 00:06:21.740 --> 00:06:25.880 all of your quarterly financial statements. And they recently 124 00:06:25.880 --> 00:06:30.170 announced that they had their largest mob since the pandemic 125 00:06:30.260 --> 00:06:30.800 began. 126 00:06:30.860 --> 00:06:31.340 Allyson Berger: Wow. 127 00:06:31.340 --> 00:06:32.260 Sean Murray: So I think that's a very bullish signal. You know, 128 00:06:32.530 --> 00:06:33.430 Allyson Berger: Yeah, it's a good sign.We need the hope and 129 00:06:35.260 --> 00:06:40.180 if nothing else, they funded about $12.1 million, I think was 130 00:06:40.180 --> 00:06:43.450 the number to small business in that month. And so I think when 131 00:06:43.450 --> 00:06:45.910 you start putting all these different factors together, what 132 00:06:45.910 --> 00:06:48.700 we're seeing out on the street, and then the fact that these 133 00:06:48.700 --> 00:06:52.990 companies are both raising money, and funding small 134 00:06:52.990 --> 00:06:55.570 business, it creates a picture. You and I were just talking 135 00:06:55.570 --> 00:06:59.260 about. Eyal Levy at Bana a Exchange. He's bullish, too 136 00:06:59.260 --> 00:07:03.580 right. So there's somebody who funds, the companies that do the 137 00:07:03.580 --> 00:07:06.310 funding, and everyone in the pai seems to be on the same pag 138 00:07:06.310 --> 00:07:06.550 . 139 00:07:09.430 --> 00:07:12.550 the positivity and the optimism. And, you know, it seems like 140 00:07:12.550 --> 00:07:16.030 it's all happening. There's one other company in the mix that's 141 00:07:16.030 --> 00:07:18.580 following that same trend line defied. 142 00:07:19.050 --> 00:07:21.450 Sean Murray: Right, right, right, Lendify. So Lendify is 143 00:07:21.450 --> 00:07:24.450 also based in Canada. But what's unique about them is that they 144 00:07:24.450 --> 00:07:29.940 essentially reached the at least the brink of failure last year, 145 00:07:30.300 --> 00:07:34.350 or they had some pretty tough times. I think some of the 146 00:07:34.350 --> 00:07:37.440 senior executives, even some of the co-founders stepped away 147 00:07:37.440 --> 00:07:41.850 from a company. They were no longer funding at all. And we're 148 00:07:41.850 --> 00:07:44.730 now seeing their name popped back up in the news, or it looks 149 00:07:44.730 --> 00:07:47.160 like there's some restructuring going on. And they may be on the 150 00:07:47.160 --> 00:07:50.190 path back to operating again. So 151 00:07:50.400 --> 00:07:50.910 Allyson Berger: Which is great. 152 00:07:50.960 --> 00:07:54.380 Sean Murray: Yeah, I mean, post pandemic, we talked about how 153 00:07:54.380 --> 00:07:57.890 some companies would disappear. And we did see some disappear. 154 00:07:58.100 --> 00:08:01.070 But I don't think that a lot of us really were expecting the 155 00:08:01.070 --> 00:08:04.940 ones that disappeared to kind of reemerge. I think we assumed 156 00:08:04.940 --> 00:08:07.070 they were just going to be gone forever. But they're coming 157 00:08:07.070 --> 00:08:07.220 back. 158 00:08:07.220 --> 00:08:09.680 Allyson Berger: Surprise! They're here. Yeah, it's a great 159 00:08:09.680 --> 00:08:10.520 thing to see 160 00:08:10.580 --> 00:08:11.360 Sean Murray: For sure, for sure. 161 00:08:11.400 --> 00:08:14.340 Allyson Berger: We want to see, you know, companies back to life 162 00:08:14.340 --> 00:08:17.880 and especially small to middle sized businesses. And you know, 163 00:08:17.880 --> 00:08:20.520 your heart breaks when you see them struggling. So it's 164 00:08:20.520 --> 00:08:23.250 definitely a good sign to see this going on. 165 00:08:23.280 --> 00:08:23.820 Sean Murray: For sure. 166 00:08:24.170 --> 00:08:25.460 Allyson Berger: Well, since we're talking so much about 167 00:08:25.460 --> 00:08:28.790 Canada, let's just stay on that track of Canada. Even though 168 00:08:28.790 --> 00:08:31.310 we're we are heartfelt for them as well, because they're in 169 00:08:31.310 --> 00:08:34.910 another lockdown, which is I can't even imagine, I have 170 00:08:34.910 --> 00:08:38.900 friends in Canada. And what's funny is, he was telling me that 171 00:08:38.900 --> 00:08:42.320 the lockdown started again last week, and there's traffic on the 172 00:08:42.320 --> 00:08:45.800 road. How is there all this traffic? If we're in a lockdown? 173 00:08:45.830 --> 00:08:47.930 They're all I don't know, if they're getting their supplies 174 00:08:47.930 --> 00:08:50.030 last time he was as confused as I was. 175 00:08:50.030 --> 00:08:51.410 Sean Murray: Yeah, I heard that can really only go to the 176 00:08:51.410 --> 00:08:52.880 grocery store and like that's it? 177 00:08:52.940 --> 00:08:55.190 Allyson Berger: Yeah. I mean, I think the weather has calmed 178 00:08:55.190 --> 00:08:59.480 down a little bit in the Toronto area, so they can't go outside. 179 00:08:59.510 --> 00:09:00.860 It's spring there too. 180 00:09:00.890 --> 00:09:01.160 Sean Murray: Yeah. 181 00:09:01.190 --> 00:09:03.920 Allyson Berger: And so it's just bizarre. You would think there's 182 00:09:03.920 --> 00:09:07.010 no traffic. I mean, traffic has definitely picked up in the 183 00:09:07.010 --> 00:09:09.890 tri-state area because more people are doing things people 184 00:09:09.890 --> 00:09:12.920 are getting vaccinated. But if Canada's in another lockdown, 185 00:09:12.950 --> 00:09:14.060 where is everyone going? 186 00:09:14.090 --> 00:09:15.380 Sean Murray: I would like to know. 187 00:09:15.380 --> 00:09:19.260 Allyson Berger: Yeah. Well, our reporter -our reporter- your 188 00:09:19.260 --> 00:09:23.430 reporter, Kevin Travers ration recently spoke with Patrick 189 00:09:23.460 --> 00:09:27.930 Labreche, because he's French Canadian, Canadian financial and 190 00:09:27.930 --> 00:09:31.050 spoke to him about his door to door selling, which I could 191 00:09:31.050 --> 00:09:35.580 relate to so much, because when I was first out of college, you 192 00:09:35.580 --> 00:09:38.970 know, I was doing cold calls. I was walking into businesses 193 00:09:38.970 --> 00:09:44.310 trying to, you know, get my name out there, meet people. And I 194 00:09:44.310 --> 00:09:47.790 think people miss that human interaction. And there's so much 195 00:09:47.790 --> 00:09:51.030 you learn about yourself and the product you're selling when you 196 00:09:51.030 --> 00:09:56.370 do that door to door selling, like Patrick was saying, and I 197 00:09:56.370 --> 00:10:01.260 think as much as these online presentations interactions have 198 00:10:01.260 --> 00:10:05.160 increased over the pandemic, I think nothing compares to that 199 00:10:05.160 --> 00:10:09.240 human interaction. And people want that, again, you'd want to 200 00:10:09.270 --> 00:10:15.360 put a face to a name and to a product. And I think it has 201 00:10:15.360 --> 00:10:16.470 hopes in coming back. 202 00:10:16.570 --> 00:10:18.640 Sean Murray: Yeah, well, it's interesting that they were still 203 00:10:18.640 --> 00:10:21.370 doing it during the pandemic, because what I was talking to 204 00:10:21.370 --> 00:10:24.700 them, I talked to them briefly before Kevin, you know, did the 205 00:10:24.700 --> 00:10:28.120 story. And, you know, I got to do a little due diligence, you 206 00:10:28.120 --> 00:10:31.960 know, yeah, editors work every now and then. And I was shocked 207 00:10:31.960 --> 00:10:34.540 to hear that they were doing it also during the pandemic was, I 208 00:10:34.540 --> 00:10:37.090 think, kind of the one of the birthing points for the story 209 00:10:37.090 --> 00:10:40.540 itself. In the end, they have had to wear the mask and 210 00:10:40.540 --> 00:10:44.080 everything. And like you said, people were just excited to see 211 00:10:44.080 --> 00:10:48.400 somebody, but I think they raise another interesting idea, in 212 00:10:48.400 --> 00:10:51.460 that when the world is has gotten so caught up in 213 00:10:51.460 --> 00:10:55.660 technology and automation, and all that stuff, that doing 214 00:10:55.660 --> 00:10:59.110 something that it's, you know, old fashioned all this, if 215 00:10:59.110 --> 00:11:01.420 you're the only one doing it, you can create a real 216 00:11:01.420 --> 00:11:03.250 competitive edge in doing it. 217 00:11:03.250 --> 00:11:03.700 Allyson Berger: Definitely, 218 00:11:03.700 --> 00:11:06.190 Sean Murray: It's kind of like in the age of like digital news. 219 00:11:06.190 --> 00:11:08.920 If you do something in print, and you're the only one who's in 220 00:11:08.920 --> 00:11:11.320 print, you can carve out a little, you know, a little niche 221 00:11:11.320 --> 00:11:15.910 for yourself. And for those out there, who don't think that you 222 00:11:15.910 --> 00:11:19.600 can sell business loans door to door that that's like a weird 223 00:11:19.600 --> 00:11:23.320 thing to do. This is actually how it used to work. At least 224 00:11:23.350 --> 00:11:26.290 when I got into the business. There were telemarketing 225 00:11:26.290 --> 00:11:29.560 companies that would go and pitch these products. But when I 226 00:11:29.560 --> 00:11:32.950 was an underwriter back in, literally 15 years ago, 227 00:11:33.020 --> 00:11:34.220 Allyson Berger: Well, don't date yourself 228 00:11:34.220 --> 00:11:34.770 Sean Murray: A year ago 229 00:11:38.890 --> 00:11:40.180 Allyson Berger: That time is in the past 230 00:11:40.180 --> 00:11:46.360 Sean Murray: You know, back when I was 15. There were sales 231 00:11:46.360 --> 00:11:50.290 partners who relied entirely on door-to-door sales and made 232 00:11:50.290 --> 00:11:53.170 quite a bit of money doing it and they would they use the the 233 00:11:53.170 --> 00:11:55.630 yellow pages, and they would use the yellow pages 234 00:11:55.660 --> 00:11:57.910 Allyson Berger: That's where you found phone numbers the Yellow 235 00:11:57.910 --> 00:11:58.540 Pages. 236 00:11:59.740 --> 00:12:03.640 Sean Murray: Showing my age, lets talk about what the yellow 237 00:12:03.640 --> 00:12:04.510 pages are for us first. 238 00:12:05.920 --> 00:12:08.140 Allyson Berger: So funny, yeah. People don't know about that 239 00:12:08.140 --> 00:12:08.510 Sean Murray: They were this things called Yellow Pages, and 240 00:12:08.510 --> 00:12:08.320 anymore 241 00:12:09.510 --> 00:12:10.840 they were actually yellow! And they had numbers and names on 242 00:12:10.840 --> 00:12:11.220 Allyson Berger: Yeah. 243 00:12:12.840 --> 00:12:15.480 them, but they would call up local businesses in the 244 00:12:15.480 --> 00:12:17.940 neighborhood, and schedule an appointment and say, Hey, I'm 245 00:12:17.940 --> 00:12:20.610 going to come see you at two o'clock. We're going to talk 246 00:12:20.610 --> 00:12:24.270 about your finances or whatever, and people would say, okay, you 247 00:12:24.270 --> 00:12:27.510 know, I'll hear what you have to say. And it's not like they j 248 00:12:27.510 --> 00:12:30.240 st walked up randomly. They w re scheduling appointments, rig 249 00:12:30.240 --> 00:12:30.750 Sean Murray: And they're like, and they're like, oh, by the 250 00:12:30.750 --> 00:12:33.390 t? And then they would go and t ey would actually get a lot of 251 00:12:33.390 --> 00:12:36.420 he paperwork in. And a lot of ti es the documents that we w 252 00:12:36.420 --> 00:12:39.750 re getting, they weren't sent by email or portals. They w 253 00:12:39.780 --> 00:12:42.900 re bringing the paperwork to ur office and handing it to 254 00:12:42.900 --> 00:12:45.480 e. 255 00:12:45.700 --> 00:12:49.240 way, this guy really needs his papers back like tomorrow. So if 256 00:12:49.240 --> 00:12:51.160 you could photocopy them real quick, I'm like, these are the 257 00:12:51.160 --> 00:12:55.360 original bank statements. This is only bank statement? And it 258 00:12:55.360 --> 00:12:59.980 worked. And then I think, I don't know why that has not been 259 00:12:59.980 --> 00:13:02.650 used anymore. I think everyone got so hyped up on, it's all 260 00:13:02.650 --> 00:13:05.980 about scale. And you need to create a scalable business, and 261 00:13:05.980 --> 00:13:08.680 you need to do something that's going to 10 extra self and 100 262 00:13:08.680 --> 00:13:12.190 extra self to make a billion dollars. And we got all caught 263 00:13:12.190 --> 00:13:15.730 up in that. And we just forgot about it. But as this company in 264 00:13:15.730 --> 00:13:20.590 Canada is proving Canadian Financial, although it's Canada, 265 00:13:20.680 --> 00:13:24.430 I think there's a lot of similarities in the culture. And 266 00:13:24.430 --> 00:13:27.820 I think that they're probably onto something. And for anyone 267 00:13:27.820 --> 00:13:31.120 out there thinking about how to differentiate themselves, this 268 00:13:31.120 --> 00:13:34.210 could be something that should be on your radar, at the very 269 00:13:34.210 --> 00:13:34.690 least. 270 00:13:35.170 --> 00:13:37.990 Allyson Berger: I mean, they're being a trendsetter. I think 271 00:13:39.400 --> 00:13:42.310 people are keeping up with the trends. And you know, they want 272 00:13:42.310 --> 00:13:45.790 to keep up with technology. So they're acclimating their 273 00:13:45.790 --> 00:13:48.820 business technique to what's available out there. But I don't 274 00:13:48.820 --> 00:13:54.820 think anything can measure up to that human interaction of a 275 00:13:54.820 --> 00:13:58.210 sales meeting and talking to someone face to face. I mean, 276 00:13:58.210 --> 00:14:01.270 even if you think about it, people are have been doing zooms 277 00:14:01.270 --> 00:14:05.170 because they want to see your face, they want to see how 278 00:14:05.170 --> 00:14:09.310 you're reacting to what I'm saying. And that body language, 279 00:14:09.310 --> 00:14:12.250 and I think it's interesting, I think, depending on who you have 280 00:14:12.640 --> 00:14:15.700 a zoom meeting with generation wise, you know, maybe they don't 281 00:14:15.700 --> 00:14:18.610 want to do the video call aspect. And then maybe more of 282 00:14:18.610 --> 00:14:22.000 the old school people involved, they want to see your face 283 00:14:22.000 --> 00:14:24.340 because they want to see how you're reacting to what I'm 284 00:14:24.340 --> 00:14:28.810 saying. So I know how to sell my product next. It's all very 285 00:14:28.810 --> 00:14:31.930 interesting, and they're definitely doing the right thing 286 00:14:31.930 --> 00:14:35.350 by getting out there. And it's great that they've been able to 287 00:14:35.350 --> 00:14:36.910 keep doing it throughout this year. 288 00:14:36.910 --> 00:14:37.960 Sean Murray: For sure. For sure. 289 00:14:38.260 --> 00:14:41.080 Allyson Berger: And Patrick, I think in him, him and his his 290 00:14:41.710 --> 00:14:46.300 colleagues and employees are tuning in today. So Bonjour mes 291 00:14:46.300 --> 00:14:46.810 amis. 292 00:14:47.740 --> 00:14:49.000 Sean Murray: I Hello. 293 00:14:49.030 --> 00:14:52.030 Allyson Berger: Yeah. That just means hello, my friends in 294 00:14:52.030 --> 00:14:55.300 French. You know, we have to keep it open to our French 295 00:14:55.300 --> 00:14:58.210 Canadian viewers, of course, but it was just it was a great 296 00:14:58.210 --> 00:15:02.680 article and yeah, it's great to see that coming back. I mean, 297 00:15:02.680 --> 00:15:05.050 do you think it's here to stay like we'll come back door to 298 00:15:05.050 --> 00:15:05.590 door selling? 299 00:15:06.110 --> 00:15:08.960 Sean Murray: Well, I think that they're kind of they're putting 300 00:15:08.960 --> 00:15:12.920 it back into the mix, I think I think it was forgotten about. I 301 00:15:12.920 --> 00:15:15.440 don't think anyone was doing it anymore. And I think that was 302 00:15:15.440 --> 00:15:18.830 part of why the story was so unique is that not only are they 303 00:15:18.830 --> 00:15:22.220 doing it, but it's kind of a secret to success. And I think 304 00:15:22.220 --> 00:15:25.520 in in this day and age, this period, how do you compete 305 00:15:25.520 --> 00:15:28.460 against, we've talked about the funding buttons, or the 306 00:15:28.460 --> 00:15:31.550 automation, or you can just press a button. And here's this 307 00:15:31.550 --> 00:15:34.520 company proving that if you just come in and talk to somebody, 308 00:15:36.080 --> 00:15:39.620 you're you're creating something that the tech companies are just 309 00:15:39.620 --> 00:15:43.190 never going to have. So I think it's almost like a new thing, 310 00:15:43.550 --> 00:15:45.920 that could come back rather than like whether or not it's gonna 311 00:15:45.920 --> 00:15:47.330 like, you know, fade away, or, 312 00:15:47.480 --> 00:15:50.870 Allyson Berger: Yeah, it's like vintage. Yeah, it is the the 313 00:15:50.900 --> 00:15:54.350 trends and the ways of doing things in the past were good 314 00:15:54.350 --> 00:15:55.730 enough, then they'll always come back. 315 00:15:55.730 --> 00:15:57.950 Sean Murray: Yeah, no. I think sometimes we delude ourselves 316 00:15:57.950 --> 00:16:01.880 into thinking that things are in the past. And we just assume 317 00:16:01.880 --> 00:16:04.760 that that generation who did things a certain way that 318 00:16:04.760 --> 00:16:07.820 they're all gone, but they're not, they just gotten a little 319 00:16:07.820 --> 00:16:11.840 bit older. Right? And they still appreciate doing things the 320 00:16:11.840 --> 00:16:15.020 older way. So you can totally carve out a little, you know, a 321 00:16:15.020 --> 00:16:18.560 niche business for yourself by just catering to the folks who 322 00:16:18.560 --> 00:16:21.320 remembered and appreciate doing business that way, because 323 00:16:21.320 --> 00:16:24.590 they're not gone. You know, they didn't just all disappear just 324 00:16:24.590 --> 00:16:28.280 because a new younger generation is kind of, you know, been 325 00:16:28.280 --> 00:16:30.890 introduced to the whole thing. And I just think it's important 326 00:16:30.890 --> 00:16:33.140 that we remember that there's an opportunity. 327 00:16:33.140 --> 00:16:36.480 Allyson Berger: Yeah, I think it's even a good trait for the 328 00:16:36.480 --> 00:16:40.980 younger generation to learn about because the kids today, 329 00:16:41.100 --> 00:16:43.710 who might have had kids today, but the younger generation below 330 00:16:43.710 --> 00:16:47.550 me, they don't know how to properly communicate, they're 331 00:16:47.550 --> 00:16:50.670 behind their devices, they would hear door-to-door selling, what 332 00:16:50.670 --> 00:16:53.580 do you mean, I would walk into an office and have to talk to 333 00:16:53.580 --> 00:16:56.880 people and maybe have a meeting? Maybe not? They're probably 334 00:16:56.880 --> 00:17:01.170 frightened by that thought. And so I think there's something 335 00:17:01.170 --> 00:17:04.500 about going to someone's office and meeting with them and 336 00:17:04.500 --> 00:17:07.860 talking to them and learning about them and creating that 337 00:17:07.860 --> 00:17:12.300 relationship. That is just, you can't compare that to anything. 338 00:17:12.300 --> 00:17:14.220 Sean Murray: Yeah. And you just mentioned like the whole, you 339 00:17:14.220 --> 00:17:18.870 know, there can be an aversion to face to face sales. I think 340 00:17:18.900 --> 00:17:23.970 the whole idea of meetings over technology has kind of really 341 00:17:25.770 --> 00:17:30.150 been bolstered the trend of ghosting, where you can almost 342 00:17:30.150 --> 00:17:33.960 just opt out of a scheduled engagement with no consequence. 343 00:17:34.080 --> 00:17:36.330 Because you don't have to see the other person's reaction. You 344 00:17:36.330 --> 00:17:38.730 just don't show up and it was all online anyway, that person 345 00:17:38.730 --> 00:17:40.710 was virtual. It didn't you know, it didn't exist, and you can 346 00:17:40.710 --> 00:17:40.950 just 347 00:17:42.000 --> 00:17:43.050 Allyson Berger: That it's so rude 348 00:17:43.770 --> 00:17:45.810 Sean Murray: I have heard complaints about that, where, 349 00:17:46.050 --> 00:17:48.540 you know, these meetings are set up and then nobody shows and 350 00:17:48.540 --> 00:17:50.340 then you can never reach them, which is even weirder, like 351 00:17:50.340 --> 00:17:52.020 where do they where do they even go? I don't know. 352 00:17:52.050 --> 00:17:54.060 Allyson Berger: I mean, we can get into a whole conversation 353 00:17:54.060 --> 00:17:57.510 about the lack of etiquette and professionalism with something 354 00:17:57.510 --> 00:18:02.220 like that, but I-I hope that didn't happen to you. I mean, I 355 00:18:02.220 --> 00:18:03.150 would I would hate 356 00:18:03.240 --> 00:18:04.350 Sean Murray: Story for another time. 357 00:18:04.350 --> 00:18:07.630 Allyson Berger: Okay,deal. I that's very unfortunate. People 358 00:18:07.630 --> 00:18:09.970 should have a little more respect for each other's time 359 00:18:09.970 --> 00:18:13.990 and you know what they're trying to do, but it's fine. It's 360 00:18:13.990 --> 00:18:18.160 Monday, we're going through the day. So I want to talk about one 361 00:18:18.160 --> 00:18:20.500 other thing with you. I know we love to chat, but I'm just one 362 00:18:20.500 --> 00:18:24.670 more thing for today. So CoinMe which is the largest fully 363 00:18:24.670 --> 00:18:29.080 licensed cryptocurrency cash exchange is continuing its 364 00:18:29.080 --> 00:18:33.730 partnership with Coinstar a lot of coins going on. And they're 365 00:18:33.730 --> 00:18:39.160 bringing 300 Bitcoin enabled Coinstar kiosks to Florida, and 366 00:18:39.160 --> 00:18:44.500 they're already in 44 states already, which I think is really 367 00:18:44.500 --> 00:18:48.010 interesting to know that it's already in so many places, and 368 00:18:48.010 --> 00:18:50.740 where they're putting these kiosks is in local grocery 369 00:18:50.740 --> 00:18:54.670 stores. So they're really making it accessible to the local 370 00:18:54.670 --> 00:18:59.050 consumer who maybe isn't as aware of Bitcoin and 371 00:18:59.050 --> 00:19:02.680 cryptocurrency and a little scared of it. But putting these 372 00:19:02.680 --> 00:19:06.160 kiosks in grocery stores is giving them that opportunity. 373 00:19:06.280 --> 00:19:08.170 And maybe they feel a little more comfortable, you know, 374 00:19:08.170 --> 00:19:11.980 pressing a few buttons on a screen and making it a simpler 375 00:19:12.010 --> 00:19:14.380 exchange. Yeah. What do you think about this? 376 00:19:15.020 --> 00:19:17.900 Sean Murray: Well, I like to think about how I viewed 377 00:19:17.900 --> 00:19:20.660 Bitcoin, like five or six years ago, when I used to think about, 378 00:19:21.050 --> 00:19:23.900 if they were to try to make it mainstream, what would they do? 379 00:19:23.930 --> 00:19:27.620 I never guessed, Coinstar machines in the grocery store, 380 00:19:27.680 --> 00:19:29.480 and I've used Coinstar before, 381 00:19:29.510 --> 00:19:29.960 Allyson Berger: Okay, 382 00:19:29.990 --> 00:19:31.490 Sean Murray: Not in like a really long time, but I would 383 00:19:31.490 --> 00:19:34.640 take all my change, you know, dump it in there, turn it into 384 00:19:34.640 --> 00:19:36.980 cash or whatever, because, you know, it would be a huge jar of 385 00:19:36.980 --> 00:19:40.160 pennies, and I didn't want to, I didn't want to roll them in. I'd 386 00:19:40.160 --> 00:19:44.570 rather just give the machine the fee and whatever. But the idea 387 00:19:44.570 --> 00:19:48.770 that you can now turn that into bitcoin. It's interesting. It's, 388 00:19:49.820 --> 00:19:53.660 I think that the approach that everyone seems to be taking, 389 00:19:53.720 --> 00:19:56.390 because no one is spending Bitcoin. Everyone seems to be 390 00:19:56.390 --> 00:20:01.280 all caught up in investing in it. Holding, hoping it goes up, 391 00:20:01.370 --> 00:20:05.450 but no one's using it to spend any money. And so, I think, you 392 00:20:05.450 --> 00:20:09.680 know, this is a way to maybe constantly bombard people sort 393 00:20:09.680 --> 00:20:13.970 of like mentally about Bitcoin, you know, maybe bring awareness 394 00:20:13.970 --> 00:20:14.360 to it. 395 00:20:14.420 --> 00:20:17.630 Allyson Berger: Right? Well, I was curious if these grocery 396 00:20:17.630 --> 00:20:22.460 stores that are having them having the CoinMe access in the 397 00:20:22.460 --> 00:20:27.500 Coinstar kiosk, if they would accept coin me for their grocery 398 00:20:27.500 --> 00:20:28.490 store purchases? 399 00:20:28.529 --> 00:20:31.019 Sean Murray: Yeah, well, that's where everything will change and 400 00:20:31.019 --> 00:20:34.829 a Bitcoin. If Bitcoin is to become mainstream for real, it's 401 00:20:34.829 --> 00:20:39.479 going to take actual people using it to pay for things. And 402 00:20:39.479 --> 00:20:42.869 if the if the supermarket's turn around and accept the Bitcoin, 403 00:20:43.169 --> 00:20:45.119 that's going to be revolutionary, because there 404 00:20:45.119 --> 00:20:48.089 will be some people who choose to I don't know why, but there 405 00:20:48.089 --> 00:20:49.649 will be some who choose to do it. 406 00:20:49.690 --> 00:20:51.430 Allyson Berger: It's another form of currency. 407 00:20:51.430 --> 00:20:52.950 Sean Murray: Yeah, I mean, I think if you were at the 408 00:20:52.980 --> 00:20:56.820 Coinstar machine, and you turn your coins into bitcoin, and 409 00:20:56.820 --> 00:20:59.490 then next week, you want to do grocery shopping, and you're 410 00:20:59.490 --> 00:21:03.180 like, Well, I was gonna invest, but I kind of need that $20 411 00:21:03.450 --> 00:21:07.800 right now to buy some groceries and you accept this? like, Yeah, 412 00:21:08.010 --> 00:21:11.070 all of a sudden, it's become normalized. And that's what 413 00:21:11.070 --> 00:21:14.880 Bitcoin is really waiting for. It's this moment where all this 414 00:21:15.000 --> 00:21:17.790 speculating and hoping goes up. I think it's a huge distraction. 415 00:21:18.060 --> 00:21:21.960 I've always been a proponent in Bitcoin as as a payment 416 00:21:21.990 --> 00:21:25.770 methodology. It's not controlled by the government. You would I 417 00:21:25.770 --> 00:21:30.510 mean, you can, you're free to move money as you please. And I 418 00:21:30.510 --> 00:21:34.560 think this is a step towards that direction. But we'll never 419 00:21:34.560 --> 00:21:39.360 be there until as you kind of just pondered, if the grocery 420 00:21:39.360 --> 00:21:43.920 store accepts it, then I think we'll start seeing Bitcoin 421 00:21:43.920 --> 00:21:45.090 really becoming mainstream. 422 00:21:45.120 --> 00:21:47.910 Allyson Berger: Right. I think this is in the step of, you 423 00:21:47.910 --> 00:21:52.200 know, bringing more awareness to Bitcoin, cryptocurrency these 424 00:21:52.200 --> 00:21:56.340 kiosks being more available. And I think, and tell me what you 425 00:21:56.340 --> 00:22:02.610 think if now banks and more finance, financial institutions 426 00:22:02.610 --> 00:22:07.560 and the industry in general, it's Monday are going to want to 427 00:22:07.560 --> 00:22:10.890 invest in it more and really make it mainstream, 428 00:22:11.260 --> 00:22:14.230 Sean Murray: For sure. And yeah, everyone seems to be jumping on 429 00:22:14.230 --> 00:22:19.690 board. I like to think about what their endgame is, sometimes 430 00:22:19.690 --> 00:22:22.210 I think it's because Oh, they see an easy way to make money. 431 00:22:22.210 --> 00:22:23.530 And sometimes I'm like, maybe they don't know what they're 432 00:22:23.530 --> 00:22:26.440 doing. And then then I'm like, wait, no, these are they're 433 00:22:26.440 --> 00:22:27.790 smarter than I am. Right? 434 00:22:27.810 --> 00:22:32.610 Allyson Berger: Well, Sean. I'm kidding! We hope they know what 435 00:22:32.610 --> 00:22:33.390 they're doing. 436 00:22:33.540 --> 00:22:36.090 Sean Murray: And I think we can assume that a lot of them. Yeah, 437 00:22:36.120 --> 00:22:39.840 do you know what they're doing. And they may just kind of be 438 00:22:39.900 --> 00:22:44.280 getting ahead of the curve. And one of my big fears in all of 439 00:22:44.280 --> 00:22:50.400 this, is that they may think, or know that inflation is coming to 440 00:22:50.400 --> 00:22:53.430 the point where the dollar, all of a sudden, that's a material 441 00:22:53.430 --> 00:22:57.240 risk to the value of the dollar, that they might still think it's 442 00:22:57.240 --> 00:23:01.680 kind of like, unlikely, but even if the risk of the dollar being 443 00:23:01.680 --> 00:23:05.400 extremely devalued with say, you know, 5%, they're like, well, 444 00:23:05.400 --> 00:23:08.610 that's a 5% shot that the billions we have in the bank are 445 00:23:08.610 --> 00:23:11.790 not going to be worth as much anymore. So does this throw 100 446 00:23:11.790 --> 00:23:16.770 million into bitcoin as a hedge? Could it make sense? And I think 447 00:23:16.770 --> 00:23:19.650 that's something that we should all be considering in the 448 00:23:19.650 --> 00:23:24.780 strategy to strategies, these financial institutions are, you 449 00:23:24.780 --> 00:23:27.990 know, putting together is, are they doing it because they, they 450 00:23:27.990 --> 00:23:30.510 see something, they see something and they want to get 451 00:23:30.510 --> 00:23:33.690 ahead of it, they know that the all the money that we put out 452 00:23:33.690 --> 00:23:36.600 during the pandemic, you know, is kind of unsustainable, that 453 00:23:36.600 --> 00:23:40.710 we're gonna have massive inflation, and that Bitcoin is 454 00:23:40.710 --> 00:23:41.460 their hedge. 455 00:23:41.819 --> 00:23:44.939 Allyson Berger: Hmm. Interesting. Well, they know 456 00:23:44.939 --> 00:23:45.869 something we don't know, 457 00:23:45.869 --> 00:23:47.310 Sean Murray: Conspiracy Theory for Monday. 458 00:23:49.650 --> 00:23:51.930 Allyson Berger: Very interesting. Well, let's hope 459 00:23:52.680 --> 00:23:56.820 things stay calm. And you know, it's all aboveboard and they 460 00:23:56.820 --> 00:23:58.350 don't know things that we don't. 461 00:23:58.380 --> 00:24:02.400 Sean Murray: Yeah. But buy Bitcoin, your life depends on 462 00:24:02.400 --> 00:24:02.460 it. 463 00:24:02.490 --> 00:24:05.880 Allyson Berger: No, no sneaky, sneaky activity is going on. 464 00:24:05.910 --> 00:24:08.040 There's enough of that with other things in the world. 465 00:24:08.040 --> 00:24:08.550 Sean Murray: For sure. 466 00:24:09.690 --> 00:24:12.330 Allyson Berger: Well, I think we made it through just a few 467 00:24:12.330 --> 00:24:15.240 hiccups, but that's what keeps things interesting. That's what 468 00:24:15.270 --> 00:24:16.680 being live is all about.. 469 00:24:16.680 --> 00:24:18.630 Sean Murray: Yeah. I wouldn't have it any other way. 470 00:24:19.860 --> 00:24:22.200 Allyson Berger: I'm glad we had it. We went through it together, 471 00:24:22.200 --> 00:24:24.030 Sean. Strengthen numbers. 472 00:24:24.030 --> 00:24:25.830 Sean Murray: Yeah. And now I'm ready for the whole week. 473 00:24:25.980 --> 00:24:28.350 Allyson Berger: Okay. I hope so. I hope you are too. 474 00:24:28.380 --> 00:24:29.520 Sean Murray: We got all the troubles out of the way. 475 00:24:29.550 --> 00:24:32.670 Allyson Berger: Yeah, exactly. But I am going to be back again 476 00:24:32.670 --> 00:24:34.860 on Wednesday. That's true. You're not getting rid of me 477 00:24:34.860 --> 00:24:35.160 yet. 478 00:24:35.190 --> 00:24:35.640 Sean Murray: Okay. 479 00:24:37.170 --> 00:24:38.460 Allyson Berger: Like he had a joy there. 480 00:24:38.460 --> 00:24:39.060 Sean Murray: Watch out there 481 00:24:40.290 --> 00:24:43.050 Allyson Berger: Oh, thank you for having me today. And I guess 482 00:24:43.050 --> 00:24:44.580 we'll see everyone again on Wednesday. 483 00:24:44.820 --> 00:24:46.740 Sean Murray: All right, sounds great. Signing off from deBanked 484 00:24:46.740 --> 00:24:47.190 live. 485 00:24:47.580 --> 00:24:48.090 Allyson Berger: Bye.