1 00:00:00.200 --> 00:00:04.300 If companies like square and PayPal 2 00:00:03.300 --> 00:00:06.400 and you know Shopify Capital all 3 00:00:06.400 --> 00:00:09.700 these companies are increasing their volume. I think 4 00:00:09.700 --> 00:00:12.400 it should send a signal to you. If your volume 5 00:00:12.400 --> 00:00:15.700 is mint is the same or going down that is 6 00:00:15.700 --> 00:00:18.500 not appetite for your product. I I 7 00:00:18.500 --> 00:00:21.600 do talk to people in the same last couple months. It seemed 8 00:00:21.600 --> 00:00:25.000 like Merchants were really interested then I'm like, well that can't 9 00:00:24.100 --> 00:00:27.100 be true because everyone else is 10 00:00:27.100 --> 00:00:31.200 the tech companies are reporting astronomical demand. I 11 00:00:30.200 --> 00:00:33.300 think what's happening is that you might not be reaching the 12 00:00:33.300 --> 00:00:36.400 customers that you otherwise normally would maybe they're 13 00:00:36.400 --> 00:00:39.700 going to those tech companies. And so you need to look at how 14 00:00:39.700 --> 00:00:42.800 those companies are performing to truly gauge what's 15 00:00:42.800 --> 00:00:45.200 happening in your own business. I really do hear this all 16 00:00:45.200 --> 00:00:48.300 the time. That's a couple months Merchants just decided they're not 17 00:00:48.300 --> 00:00:51.300 interested. No, they are very interested the more interested than 18 00:00:51.300 --> 00:00:54.500 ever before. Yeah, you have to think of a different reason. It's 19 00:00:54.500 --> 00:00:57.500 easy to blame. They weren't interested as the 20 00:00:57.500 --> 00:00:59.700 reason and you might be missing. What the real reason. 21 00:00:59.900 --> 00:01:02.300 Is so you have to look at what they're doing. You also have 22 00:01:02.300 --> 00:01:05.400 to look at whether or not their volume is decreasing and 23 00:01:05.400 --> 00:01:08.200 why it would be decreasing if yours is going down at the 24 00:01:08.200 --> 00:01:11.400 same same time as theirs is okay. Maybe it 25 00:01:11.400 --> 00:01:14.900 makes sense. But also if you're trying to raise any type of investor capital 26 00:01:14.900 --> 00:01:17.500 and you don't know what's happening at the top level but the 27 00:01:17.500 --> 00:01:20.100 big tech companies well, then you're not going to really gonna have 28 00:01:20.100 --> 00:01:24.300 you're not gonna be able to explain to somebody the market metrics, 29 00:01:23.300 --> 00:01:26.600 right? If somebody's getting a 30 00:01:26.600 --> 00:01:29.600 50 million dollar credit facility here 100 million dollar credit facility 31 00:01:29.600 --> 00:01:32.800 here and 200 million dollar credit facility here and everyone's lone volumes 32 00:01:32.800 --> 00:01:35.300 are going up when you go and tell somebody what 33 00:01:35.300 --> 00:01:38.200 the industry is about you'll be able to point to things that makes 34 00:01:38.200 --> 00:01:41.600 sense. They'll be able to go and do their own due diligence, right? But if 35 00:01:41.600 --> 00:01:44.000 you're like, I don't know I never really looked at any of that. 36 00:01:44.500 --> 00:01:48.400 Don't worry. I know what I'm doing. This business is gonna be good, right? That's 37 00:01:47.400 --> 00:01:50.400 not going to be a good answer. Yeah, you have 38 00:01:50.400 --> 00:01:51.600 to pay attention to the big picture.