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You know if we're talking about just merchant cash advance in particular that's been

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around since the 90s. I

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know Advanced me which is now Ken capital. I

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think they launched in around 1998 and they

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used to have a specific patent on the ability to split credit

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and debit card transactions. So if

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you were an MCA company, what you would do is you would take a

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percentage of credit card sales, right and people said,

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oh that's a good idea back in the early 2000s Advanced.

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He's got a really great idea. We'll do that too in

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advance. We said you can't we have a patent on it. We've been doing it

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since 98 right? We've been doing cash advance since

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98. They're like, ah, so Advanced me

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sued a bunch of companies. They suit all the rivals and say you're about

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your your violating our patent.

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So those companies kind of got together

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collaborated formed illegal defense fund

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and tried to prove that they didn't invent it

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and then it's older than 1998. And I think they proved that

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it actually came out in the late 80s.

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They're like they're like you're splitting a payments isn't something

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you invented in the 1990s. This has been around since 88

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right or eight and nine or whatever year it

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was.

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And so if you if you go that far back, yeah, you really this

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has been around literally.

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For you know forever. Yes. So some people have not

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even been born weren't even born when this

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product was around. So when I got into it

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in 2006, it did

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feel early. Okay, but I was definitely not

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like the first year there were people who had

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been in it for years. Yeah at that point. Yeah quite definitely

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was like, well this person's been in it for like 10 years. Yeah.

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I mean what was really intimidated by I'm like, I have

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a lot to learn and so while there were

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a lot of elements that felt new it didn't

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feel like

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It didn't feel like it was the very very beginning. Yeah, and there

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was you know, there are 11 a lot of moving pieces and everyone was

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talking about right regulation right around the corner gonna change

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everything a bunch of people were telling me to get out now. It's

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all gonna be gone in 2007. It's all

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gonna be gone in 2009. Literally 2012 people

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are like so you know, what are you gonna do when this is all gone? Like

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I don't think it's gonna be gone. Yeah, because

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these small businesses aren't getting money from

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a bank. Yeah, like you had to come back to what's the

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value add what value are you introducing to society if

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you're introducing no value and sure I guess

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I you know, I guess I could see why it would disappear but

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when these customers are not being served and

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they need money to actually do what they do and you're

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the ones providing it. Hello. Of course, it's

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going to be around for a long time. Right? It'll be

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around forever. Sure. There may be regulations

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that make it more expensive to provide it,

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you know could be prohibitive to

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Get new people into it, but the concept itself. Yeah

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will continue.

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Forever and that's is what kept me in

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it despite some of this the slowness of

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adoption in the early years. Yeah. I mean

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there were people who didn't even think any of it would be online. They didn't even think

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computers were going to be part of this whole thing if they would only

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see what we know now there were no iPhones. Yeah. I

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understand everything was done by facts. Oh, man.

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That sounds there was actually there's a

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quote in in the story that I pulled. I pulled this direct

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quote and it was in 2009. It said gone or

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the days of like of a

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phones and mail and all

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the like the industry is all gonna be face to

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face. The future of the industry is about meeting your customers in

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person. Well, you kind of are doing that

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in a way but it's all you electronic if you

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need a call someone you just FaceTime. Yeah, that's not what they were

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talking. I know. Yeah, that's not what they were talking about. I mean, I knew I knew

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quite a few ISO back in the day who's business with entirely dominated

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by they would cold call out of the

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out of the phone book a little phone book. And what they would

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do is they would set up appointments. So they would call local businesses set

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up appointments and they would meet them and they would tell

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them about you know, here's how we can get you some working

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capital. Yeah, and they were very successful into everything was in person

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and they thought that was the future. In fact,

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I'm not mistaken one company. I think it was

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To me again. You could be essentially like a original manager you

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had a territory and you would just drive around the state. So that's

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crazy. Just go, you know visit the small business. Hi. I'm

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a regional manager for this company. And if you need working capital, I'm the

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only one who can give it to you.

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And I'll come to your store and we'll sign all the paperwork.

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And they're like, this is how it's going to be. Yeah, it's