{"version":"1.0.0","segments":[{"startTime":0.0,"endTime":3.48,"body":"Welcome to the Planet Amazon"},{"startTime":0.0,"endTime":3.48,"body":"Podcast with Adam Schaffer,"},{"startTime":3.48,"endTime":7.36,"body":"where we explore the world of Amazon"},{"startTime":3.48,"endTime":7.36,"body":"and other e-commerce marketplaces."},{"startTime":7.71,"endTime":11.96,"body":"Join us as we delve into the latest"},{"startTime":7.71,"endTime":11.96,"body":"strategies and tactics for successful"},{"startTime":11.96,"endTime":14.44,"body":"selling on the world's"},{"startTime":11.96,"endTime":14.44,"body":"largest online marketplace."},{"startTime":17.2,"endTime":21.36,"body":"Hello, I'm Adam Schaffer, and"},{"startTime":17.2,"endTime":21.36,"body":"welcome to the Planet Amazon Podcast,"},{"startTime":21.36,"endTime":23.88,"body":"where we talk about all things Amazon."},{"startTime":24.14,"endTime":26.96,"body":"And I'm very excited today"},{"startTime":24.14,"endTime":26.96,"body":"for this episode, beque."},{"startTime":27.33,"endTime":30.52,"body":"We have a person I know"},{"startTime":27.33,"endTime":30.52,"body":"for a very long time,"},{"startTime":31.29,"endTime":34.04,"body":"an absolute genius, you,"},{"startTime":31.29,"endTime":34.04,"body":"you're gonna love him,"},{"startTime":34.18,"endTime":37.88,"body":"and he runs one of the most"},{"startTime":34.18,"endTime":37.88,"body":"successful brands on Amazon and,"},{"startTime":37.88,"endTime":41.16,"body":"and actually at retail also."},{"startTime":37.88,"endTime":41.16,"body":"And he'll tell you about it. Um,"},{"startTime":41.16,"endTime":44.76,"body":"we worked together in the tech"},{"startTime":41.16,"endTime":44.76,"body":"industry, uh, many years ago,"},{"startTime":44.9,"endTime":49.48,"body":"and we didn't stay too in"},{"startTime":44.9,"endTime":49.48,"body":"touch. And during the pandemic,"},{"startTime":49.48,"endTime":50.68,"body":"we seemed to catch up,"},{"startTime":50.68,"endTime":54.08,"body":"and I was shocked when we started talking"},{"startTime":50.68,"endTime":54.08,"body":"and comparing notes about our lives"},{"startTime":54.35,"endTime":58.2,"body":"that he was actually in the internet"},{"startTime":54.35,"endTime":58.2,"body":"business, in the e-commerce business,"},{"startTime":58.34,"endTime":63.16,"body":"but in the Amazon business. And we had"},{"startTime":58.34,"endTime":63.16,"body":"so many things to talk about from that,"},{"startTime":63.25,"endTime":64.8,"body":"uh, one connection."},{"startTime":65.06,"endTime":69.88,"body":"And so I wanted to bring him on the"},{"startTime":65.06,"endTime":69.88,"body":"show and introduce you to Rob Rich"},{"startTime":70.11,"endTime":75.05,"body":"from Owen. Rob, welcome to the"},{"startTime":70.11,"endTime":75.05,"body":"show. Thanks for joining me today."},{"startTime":75.05,"endTime":76.69,"body":"Thanks for having me. Great to see you."},{"startTime":76.85,"endTime":79.77,"body":"Great to see you again."},{"startTime":76.85,"endTime":79.77,"body":"And you know, we, we, um,"},{"startTime":80.24,"endTime":82.13,"body":"have a long history together,"},{"startTime":82.13,"endTime":85.25,"body":"but then we had a real kind"},{"startTime":82.13,"endTime":85.25,"body":"of big breakup in between,"},{"startTime":85.79,"endTime":88.49,"body":"and I I was really surprised that, um,"},{"startTime":88.86,"endTime":93.61,"body":"we were both somehow from the old"},{"startTime":88.86,"endTime":93.61,"body":"industry back in a new industry"},{"startTime":93.85,"endTime":97.37,"body":"together. And, um, I, I was"},{"startTime":93.85,"endTime":97.37,"body":"fascinated by your story."},{"startTime":97.37,"endTime":101.61,"body":"So would love you to share it with the"},{"startTime":97.37,"endTime":101.61,"body":"audience. And, and I'm hoping, you know,"},{"startTime":101.61,"endTime":104.85,"body":"what comes out of it is, hey, we get"},{"startTime":101.61,"endTime":104.85,"body":"to hang out and talk a little bit,"},{"startTime":104.91,"endTime":109.61,"body":"but people could pick up some tips"},{"startTime":104.91,"endTime":109.61,"body":"and tricks on your success because"},{"startTime":109.61,"endTime":114.21,"body":"Amazon is no easy, um, marketplace"},{"startTime":109.61,"endTime":114.21,"body":"to navigate. So, you know,"},{"startTime":114.21,"endTime":116.69,"body":"why don't you give us the elevator pitch."},{"startTime":114.21,"endTime":116.69,"body":"Tell us a little about yourself and,"},{"startTime":116.69,"endTime":117.523,"body":"and Owen."},{"startTime":117.92,"endTime":122.73,"body":"Well, I started, um, doing"},{"startTime":117.92,"endTime":122.73,"body":"this 30 years now, uh, Ann,"},{"startTime":122.73,"endTime":126.21,"body":"which is pretty hard to imagine"},{"startTime":122.73,"endTime":126.21,"body":"because as early as 1993 I'm doing,"},{"startTime":126.55,"endTime":128.05,"body":"I'm doing electronic commerce,"},{"startTime":128.19,"endTime":131.57,"body":"and it just seems like if I"},{"startTime":128.19,"endTime":131.57,"body":"was to make any kind of a, uh,"},{"startTime":131.57,"endTime":135.61,"body":"explanation for my career, it would"},{"startTime":131.57,"endTime":135.61,"body":"be, it really is around e-commerce."},{"startTime":135.61,"endTime":140.09,"body":"It wasn't about anyone industry. I, maybe"},{"startTime":135.61,"endTime":140.09,"body":"I was in tech computers for 10 years,"},{"startTime":140.09,"endTime":143.45,"body":"you know, that was the 15 years."},{"startTime":140.09,"endTime":143.45,"body":"Those were the things that, you know,"},{"startTime":143.45,"endTime":145.69,"body":"were selling back then. My"},{"startTime":143.45,"endTime":145.69,"body":"early days I started, uh,"},{"startTime":145.7,"endTime":147.81,"body":"my own company where you could, uh,"},{"startTime":147.81,"endTime":150.01,"body":"reach out to find your long"},{"startTime":147.81,"endTime":150.01,"body":"lost friend or family member."},{"startTime":150.01,"endTime":153.81,"body":"This is like 10 years before you"},{"startTime":150.01,"endTime":153.81,"body":"know, Facebook. This is 1994."},{"startTime":153.81,"endTime":157.77,"body":"It became u us search.com."},{"startTime":153.81,"endTime":157.77,"body":"And, uh, you know, here your,"},{"startTime":157.77,"endTime":162.33,"body":"your trading information as early"},{"startTime":157.77,"endTime":162.33,"body":"as 1994. And then when we got to,"},{"startTime":163.22,"endTime":167.85,"body":"uh, later years, I'm a Dell,"},{"startTime":163.22,"endTime":167.85,"body":"uh, and, uh, ran dell.com."},{"startTime":168.23,"endTime":172.97,"body":"And so suddenly you're in a,"},{"startTime":168.23,"endTime":172.97,"body":"in a much bigger scale. Uh,"},{"startTime":173.11,"endTime":178.05,"body":"and, uh, and then eventually kind of"},{"startTime":173.11,"endTime":178.05,"body":"where you and I, uh, ended up in this, uh,"},{"startTime":178.05,"endTime":182.8,"body":"world of electronics, an apple computer"},{"startTime":178.05,"endTime":182.8,"body":"with, uh, Mac Mall and PC Mall,"},{"startTime":182.8,"endTime":185.2,"body":"the old cataloger and, uh,"},{"startTime":185.2,"endTime":190.16,"body":"making its change from big"},{"startTime":185.2,"endTime":190.16,"body":"millions of catalogs going out to,"},{"startTime":190.57,"endTime":194.24,"body":"uh, to electronic commerce"},{"startTime":190.57,"endTime":194.24,"body":"and selling online. And, uh,"},{"startTime":194.86,"endTime":198.48,"body":"and so, you know, after"},{"startTime":194.86,"endTime":198.48,"body":"I, we did that, uh,"},{"startTime":198.48,"endTime":201.28,"body":"I entered into a new industry altogether,"},{"startTime":201.28,"endTime":203.16,"body":"which hadn't really done"},{"startTime":201.28,"endTime":203.16,"body":"any kind of e-commerce,"},{"startTime":203.16,"endTime":204.84,"body":"which was furniture and home furnishings."},{"startTime":204.84,"endTime":208.36,"body":"And I was doing that for a few years"},{"startTime":204.84,"endTime":208.36,"body":"and, you know, built a, you know,"},{"startTime":208.36,"endTime":212.6,"body":"huge Amazon business, um, uh, 40 million,"},{"startTime":212.6,"endTime":217.6,"body":"50 million business in one year with"},{"startTime":212.6,"endTime":217.6,"body":"the largest importer and wholesaler of"},{"startTime":217.6,"endTime":221.6,"body":"furniture and home furnishings in the"},{"startTime":217.6,"endTime":221.6,"body":"country. Had been around for 40 years."},{"startTime":221.6,"endTime":224.04,"body":"Very successful private"},{"startTime":221.6,"endTime":224.04,"body":"equity owned company,"},{"startTime":224.04,"endTime":228.76,"body":"but all wholesale selling products to"},{"startTime":224.04,"endTime":228.76,"body":"retailers and never doing anything online."},{"startTime":228.76,"endTime":232.76,"body":"So I, you know, I created an entire"},{"startTime":228.76,"endTime":232.76,"body":"online business. And so in 2017,"},{"startTime":233.3,"endTime":237.72,"body":"I'm on the board of directors of a"},{"startTime":233.3,"endTime":237.72,"body":"national nonprofit regarding food allergy,"},{"startTime":238.29,"endTime":242.08,"body":"uh, food allergy research and"},{"startTime":238.29,"endTime":242.08,"body":"education. I have a peanut allergy."},{"startTime":242.18,"endTime":244.88,"body":"I'm literally the oldest, uh,"},{"startTime":244.88,"endTime":249.76,"body":"surviving peanut allergy sufferer"},{"startTime":244.88,"endTime":249.76,"body":"in the country, you know, and, um,"},{"startTime":249.76,"endTime":254.36,"body":"and I'm on this board and I'm speaking"},{"startTime":249.76,"endTime":254.36,"body":"with this other board member whose son"},{"startTime":254.36,"endTime":258.24,"body":"has a severe allergy, and he's"},{"startTime":254.36,"endTime":258.24,"body":"asking me what I did, and I said,"},{"startTime":258.24,"endTime":262.84,"body":"I do e-commerce. And he says, Hey,"},{"startTime":258.24,"endTime":262.84,"body":"I need that \u003claugh\u003e. And this guy,"},{"startTime":262.84,"endTime":267.68,"body":"you would never really know his name, but"},{"startTime":262.84,"endTime":267.68,"body":"he's like, he's like the, the king of,"},{"startTime":267.68,"endTime":271.96,"body":"of snacks and, uh, and"},{"startTime":267.68,"endTime":271.96,"body":"drinks, food and beverage. Um,"},{"startTime":271.96,"endTime":275.68,"body":"you wouldn't believe it. He's probably"},{"startTime":271.96,"endTime":275.68,"body":"in the last 10 years, done, uh,"},{"startTime":275.68,"endTime":279.8,"body":"eight 10 companies that he"},{"startTime":275.68,"endTime":279.8,"body":"created from nothing and sold,"},{"startTime":279.8,"endTime":283.88,"body":"and no less than two, 300 million,"},{"startTime":279.8,"endTime":283.88,"body":"some of 'em over a billion dollars."},{"startTime":283.88,"endTime":286.56,"body":"So billions of dollars in food,"},{"startTime":286.56,"endTime":291.44,"body":"snacks and beverages that you've all"},{"startTime":286.56,"endTime":291.44,"body":"heard of, skinny pop, popcorn, you know,"},{"startTime":291.44,"endTime":295.12,"body":"for example, veggie straws, these"},{"startTime":291.44,"endTime":295.12,"body":"kinds of things. In any event,"},{"startTime":295.12,"endTime":297.08,"body":"he's got this kid with, uh, food allergy,"},{"startTime":297.08,"endTime":301.48,"body":"and he's involved in the charitable cause"},{"startTime":297.08,"endTime":301.48,"body":"I'm the only board member with a food"},{"startTime":301.48,"endTime":305.04,"body":"allergy, and he's starting"},{"startTime":301.48,"endTime":305.04,"body":"this beverage, uh,"},{"startTime":305.04,"endTime":307.88,"body":"Owen only what you need, uh,"},{"startTime":307.91,"endTime":312.32,"body":"O W Y N for your listeners. And, uh,"},{"startTime":313.29,"endTime":317.68,"body":"uh, it's, it's intended to provide,"},{"startTime":313.29,"endTime":317.68,"body":"uh, a protein, uh, product,"},{"startTime":317.71,"endTime":321.76,"body":"a good healthy product in"},{"startTime":317.71,"endTime":321.76,"body":"particular for people who have, uh,"},{"startTime":321.76,"endTime":326.72,"body":"intolerances and allergies. It's"},{"startTime":321.76,"endTime":326.72,"body":"free of the top nine major allergens."},{"startTime":326.72,"endTime":328.36,"body":"It's tested to be free of that."},{"startTime":328.74,"endTime":332.36,"body":"And so there are tons of people who don't"},{"startTime":328.74,"endTime":332.36,"body":"want to be on dairy. It's non-dairy,"},{"startTime":332.36,"endTime":336.24,"body":"it's vegan, it's, you know,"},{"startTime":332.36,"endTime":336.24,"body":"plant-based, as they say, very hot."},{"startTime":336.78,"endTime":339.88,"body":"And so we started this in,"},{"startTime":336.78,"endTime":339.88,"body":"uh, at the end of 2017,"},{"startTime":339.88,"endTime":343.64,"body":"and I kind of left the furniture business"},{"startTime":339.88,"endTime":343.64,"body":"and jumped on this guy's bandwagon"},{"startTime":343.65,"endTime":348.52,"body":"because he was trying to, uh,"},{"startTime":343.65,"endTime":348.52,"body":"get into, uh, a new brand,"},{"startTime":348.85,"endTime":353.68,"body":"uh, but but also didn't know anything"},{"startTime":348.85,"endTime":353.68,"body":"about e-commerce and online. And, uh,"},{"startTime":353.68,"endTime":356.32,"body":"and, you know, this is my bread"},{"startTime":353.68,"endTime":356.32,"body":"and butter, but, you know,"},{"startTime":356.32,"endTime":359.48,"body":"these guys know retail and they know"},{"startTime":356.32,"endTime":359.48,"body":"how to get their product into Walmart,"},{"startTime":359.59,"endTime":361.24,"body":"into Kroger and the groceries,"},{"startTime":361.24,"endTime":364.48,"body":"but they don't know anything"},{"startTime":361.24,"endTime":364.48,"body":"about standing up in"},{"startTime":364.48,"endTime":366.76,"body":"So, so, Rob, you actually,"},{"startTime":364.48,"endTime":366.76,"body":"I, I didn't realize, so you,"},{"startTime":366.76,"endTime":369.32,"body":"you actually launched"},{"startTime":366.76,"endTime":369.32,"body":"it from zero on, from."},{"startTime":369.32,"endTime":370.76,"body":"Zero Amazon. Yep. Yeah."},{"startTime":370.76,"endTime":373.32,"body":"Which is really hard to"},{"startTime":370.76,"endTime":373.32,"body":"do. Really hard to do."},{"startTime":373.32,"endTime":376.84,"body":"Yeah. Yeah. Right. I mean, that's,"},{"startTime":373.32,"endTime":376.84,"body":"that's some of the craziest, uh,"},{"startTime":376.84,"endTime":380.44,"body":"parts of the whole endeavor, you know,"},{"startTime":376.84,"endTime":380.44,"body":"because obviously it took a year or more,"},{"startTime":380.57,"endTime":385.08,"body":"uh, to get actual retail, you know,"},{"startTime":380.57,"endTime":385.08,"body":"get your product into the, the store."},{"startTime":385.13,"endTime":389.04,"body":"So we had the opportunity"},{"startTime":385.13,"endTime":389.04,"body":"here to, uh, get product in,"},{"startTime":389.12,"endTime":393.92,"body":"start selling right away. We have a"},{"startTime":389.12,"endTime":393.92,"body":"website, uh, live owen.com and, uh,"},{"startTime":393.92,"endTime":396.92,"body":"and Amazon. And then, you"},{"startTime":393.92,"endTime":396.92,"body":"know, at the very end of 2017,"},{"startTime":396.92,"endTime":401.0,"body":"we were off to the races. I'm"},{"startTime":396.92,"endTime":401.0,"body":"selling this product now. You know,"},{"startTime":401.0,"endTime":403.52,"body":"I would say just speaking"},{"startTime":401.0,"endTime":403.52,"body":"of, you know, the, uh,"},{"startTime":403.52,"endTime":406.52,"body":"getting into the Amazon business,"},{"startTime":403.52,"endTime":406.52,"body":"you know, there were a lot of, uh,"},{"startTime":407.03,"endTime":410.88,"body":"a lot of considerations, um,"},{"startTime":407.03,"endTime":410.88,"body":"that I needed to kind of,"},{"startTime":410.88,"endTime":412.92,"body":"some of needed to lay"},{"startTime":410.88,"endTime":412.92,"body":"down the law, so to speak,"},{"startTime":412.92,"endTime":417.12,"body":"with my own company about if"},{"startTime":412.92,"endTime":417.12,"body":"you're gonna do this, you know,"},{"startTime":417.12,"endTime":418.88,"body":"you need to understand"},{"startTime":417.12,"endTime":418.88,"body":"how this thing works."},{"startTime":418.88,"endTime":422.68,"body":"Because I had just come from a situation"},{"startTime":418.88,"endTime":422.68,"body":"in the furniture business where,"},{"startTime":423.06,"endTime":425.24,"body":"you know, we, we were, uh, you know,"},{"startTime":425.24,"endTime":428.24,"body":"to step back and just think about"},{"startTime":425.24,"endTime":428.24,"body":"these guys and the learnings from them."},{"startTime":428.71,"endTime":433.64,"body":"They were a one P, uh, that"},{"startTime":428.71,"endTime":433.64,"body":"also had direct fulfillment."},{"startTime":434.13,"endTime":438.52,"body":"uh, they would, Amazon would issue"},{"startTime":434.13,"endTime":438.52,"body":"a PO and they would send, you know,"},{"startTime":438.52,"endTime":440.36,"body":"truckloads and truckloads of product in,"},{"startTime":440.46,"endTime":444.24,"body":"but also they would have the ability to"},{"startTime":440.46,"endTime":444.24,"body":"do online, but they hadn't done online."},{"startTime":444.74,"endTime":449.46,"body":"And, um, uh, so when I got in"},{"startTime":444.74,"endTime":449.46,"body":"there and I started this business,"},{"startTime":450.16,"endTime":453.78,"body":"I'm looking at, I'm starting"},{"startTime":450.16,"endTime":453.78,"body":"this Amazon, uh, you know,"},{"startTime":453.98,"endTime":455.14,"body":"business with their"},{"startTime":453.98,"endTime":455.14,"body":"products, and, you know,"},{"startTime":455.14,"endTime":460.02,"body":"they've got 40,000 SKUs all housed"},{"startTime":455.14,"endTime":460.02,"body":"in 1 million square foot warehouse"},{"startTime":460.02,"endTime":464.5,"body":"in Chino, California, and,"},{"startTime":460.02,"endTime":464.5,"body":"uh, you know, 40,000 SKUs."},{"startTime":465.04,"endTime":466.78,"body":"And so I sat there manually."},{"startTime":466.87,"endTime":468.22,"body":"Oh, Owen has 40,000."},{"startTime":468.34,"endTime":469.9,"body":"SKUs? No, no, the furniture business."},{"startTime":469.9,"endTime":471.02,"body":"The furniture guys, yeah, yeah. Okay."},{"startTime":471.02,"endTime":475.14,"body":"40,000 SKUs. So I start this thing"},{"startTime":471.02,"endTime":475.14,"body":"up, and as I'm doing it, I realize,"},{"startTime":475.14,"endTime":477.02,"body":"wait a minute, this, this,"},{"startTime":477.74,"endTime":481.94,"body":"whatever piece of home decor is"},{"startTime":477.74,"endTime":481.94,"body":"being sold by this other guy,"},{"startTime":481.94,"endTime":486.78,"body":"Woodland Imports, who are they?"},{"startTime":481.94,"endTime":486.78,"body":"Oh, well, that's our customer,"},{"startTime":486.78,"endTime":490.06,"body":"you know, that's our best customer."},{"startTime":486.78,"endTime":490.06,"body":"I'm like, what do you mean? I'm like,"},{"startTime":490.06,"endTime":492.78,"body":"he's like, yeah, well, we sell to him,"},{"startTime":490.06,"endTime":492.78,"body":"and then he puts it online. I'm like,"},{"startTime":492.78,"endTime":495.34,"body":"well, you know, we're trying to set up"},{"startTime":492.78,"endTime":495.34,"body":"our own, I, you know, Amazon business,"},{"startTime":495.34,"endTime":496.173,"body":"why would you do that?"},{"startTime":496.2,"endTime":500.26,"body":"And now you're one P so you're"},{"startTime":496.2,"endTime":500.26,"body":"giving this guy a 50% discount,"},{"startTime":500.56,"endTime":504.66,"body":"and he's taking it and he's, you"},{"startTime":500.56,"endTime":504.66,"body":"know, making pennies, and he's,"},{"startTime":504.66,"endTime":506.5,"body":"and he's starting this"},{"startTime":504.66,"endTime":506.5,"body":"whole business of his own,"},{"startTime":506.68,"endTime":510.22,"body":"and now we're competing"},{"startTime":506.68,"endTime":510.22,"body":"against our own guy. Yeah."},{"startTime":510.72,"endTime":515.42,"body":"And then Amazon, because it's one"},{"startTime":510.72,"endTime":515.42,"body":"P, they price their own goods,"},{"startTime":515.42,"endTime":517.26,"body":"and they see the same product,"},{"startTime":517.26,"endTime":522.06,"body":"which is us selling it to this guy at"},{"startTime":517.26,"endTime":522.06,"body":"50% less. So what do they do? They,"},{"startTime":522.06,"endTime":525.26,"body":"they go out their price lower, lower"},{"startTime":522.06,"endTime":525.26,"body":"the price, they match the price,"},{"startTime":525.26,"endTime":528.94,"body":"then they say, Hey, you know, your"},{"startTime":525.26,"endTime":528.94,"body":"stuff is too expensive, you know,"},{"startTime":528.98,"endTime":530.78,"body":"we're not making enough margin, you know,"},{"startTime":530.78,"endTime":533.66,"body":"and the freight's expensive and"},{"startTime":530.78,"endTime":533.66,"body":"all that stuff, so, you know,"},{"startTime":533.66,"endTime":537.72,"body":"you better give us a better"},{"startTime":533.66,"endTime":537.72,"body":"cost. And so, you know, it's a,"},{"startTime":537.72,"endTime":540.68,"body":"it's a huge problem. N not to"},{"startTime":537.72,"endTime":540.68,"body":"mention the fact, you know,"},{"startTime":540.68,"endTime":542.76,"body":"people didn't quite understand"},{"startTime":540.68,"endTime":542.76,"body":"the concept. They're like, well,"},{"startTime":542.76,"endTime":546.36,"body":"what does it matter? You're selling it"},{"startTime":542.76,"endTime":546.36,"body":"to the guy who's selling it to Amazon,"},{"startTime":546.36,"endTime":547.72,"body":"you could do it yourself. I'm like, well,"},{"startTime":547.72,"endTime":551.36,"body":"it matters because when you're doing"},{"startTime":547.72,"endTime":551.36,"body":"it yourself and you're, you know,"},{"startTime":551.36,"endTime":553.68,"body":"vendor central, you're one p, you know,"},{"startTime":553.68,"endTime":555.24,"body":"you're gonna have a"},{"startTime":553.68,"endTime":555.24,"body":"higher conversion rate."},{"startTime":555.24,"endTime":559.32,"body":"You're gonna get all of the benefits"},{"startTime":555.24,"endTime":559.32,"body":"of Amazon's marketing machine. So,"},{"startTime":559.78,"endTime":560.68,"body":"you know, you're,"},{"startTime":561.47,"endTime":565.64,"body":"it's not apples to apples just because"},{"startTime":561.47,"endTime":565.64,"body":"it happens to be the same ASIN that"},{"startTime":565.64,"endTime":568.68,"body":"you're selling, you're gonna lose"},{"startTime":565.64,"endTime":568.68,"body":"conversion. Because if you're,"},{"startTime":568.68,"endTime":571.28,"body":"if you're one P and you're the"},{"startTime":568.68,"endTime":571.28,"body":"seller and you're the manufacturer,"},{"startTime":571.28,"endTime":576.24,"body":"and you control, then you're gonna"},{"startTime":571.28,"endTime":576.24,"body":"be able to maximize that. But,"},{"startTime":576.24,"endTime":578.84,"body":"you know, otherwise you're gonna have"},{"startTime":576.24,"endTime":578.84,"body":"a lower conversion with these guys,"},{"startTime":578.84,"endTime":581.76,"body":"and you're gonna, you're gonna lose"},{"startTime":578.84,"endTime":581.76,"body":"money. So right away, I'm like,"},{"startTime":581.76,"endTime":586.16,"body":"you gotta get out of this and, uh, and"},{"startTime":581.76,"endTime":586.16,"body":"not sell to these guys and choke 'em off."},{"startTime":586.65,"endTime":589.0,"body":"So when I go to the,"},{"startTime":586.65,"endTime":589.0,"body":"uh, beverage business,"},{"startTime":589.15,"endTime":593.72,"body":"I have to explain to them"},{"startTime":589.15,"endTime":593.72,"body":"that you can't just, you know,"},{"startTime":593.89,"endTime":596.32,"body":"if you get into trouble"},{"startTime":593.89,"endTime":596.32,"body":"with your product and you,"},{"startTime":596.32,"endTime":599.24,"body":"and you overproduce and you"},{"startTime":596.32,"endTime":599.24,"body":"undersell and you wanna liquidate it,"},{"startTime":599.43,"endTime":603.6,"body":"it's gonna screw your e-commerce business"},{"startTime":599.43,"endTime":603.6,"body":"up because you're gonna, you're gonna,"},{"startTime":603.6,"endTime":607.92,"body":"you know, dump it in Miami somewhere,"},{"startTime":603.6,"endTime":607.92,"body":"and it's gonna end up online, and,"},{"startTime":608.45,"endTime":611.2,"body":"uh, it's gonna come back and"},{"startTime":608.45,"endTime":611.2,"body":"haunt you. So these kinds of, uh."},{"startTime":611.2,"endTime":613.44,"body":"So, so what did you wind"},{"startTime":611.2,"endTime":613.44,"body":"up doing, Rob? Like, so,"},{"startTime":613.44,"endTime":615.44,"body":"so from your experience"},{"startTime":613.44,"endTime":615.44,"body":"in the furniture business,"},{"startTime":615.44,"endTime":620.16,"body":"you come to now this startup on"},{"startTime":615.44,"endTime":620.16,"body":"Amazon, and you gotta launch it,"},{"startTime":620.77,"endTime":623.6,"body":"or is it one, one p or three"},{"startTime":620.77,"endTime":623.6,"body":"p? What, what did you do?"},{"startTime":624.24,"endTime":626.71,"body":"Oh, three p all the"},{"startTime":624.24,"endTime":626.71,"body":"way. So there, you know,"},{"startTime":626.71,"endTime":629.23,"body":"is insistent that you go three"},{"startTime":626.71,"endTime":629.23,"body":"p even if you wanted to go."},{"startTime":629.23,"endTime":630.35,"body":"One P and, and tell me why,"},{"startTime":630.42,"endTime":634.19,"body":"tell everybody why you thought that was"},{"startTime":630.42,"endTime":634.19,"body":"the best way to go. Because, you know,"},{"startTime":634.23,"endTime":636.75,"body":"first of all, may, maybe at a startup,"},{"startTime":636.75,"endTime":639.15,"body":"maybe Amazon might not have been"},{"startTime":636.75,"endTime":639.15,"body":"that interested in buying direct,"},{"startTime":639.15,"endTime":643.43,"body":"but assuming they were, you know,"},{"startTime":639.15,"endTime":643.43,"body":"that's always the big question."},{"startTime":643.48,"endTime":647.19,"body":"Am I one P three P hybrid or do I load"},{"startTime":643.48,"endTime":647.19,"body":"all these other sellers to sell the hell"},{"startTime":647.19,"endTime":649.03,"body":"out of my product and destroy my channel?"},{"startTime":649.66,"endTime":650.91,"body":"Yeah, \u003claugh\u003e, I mean,"},{"startTime":651.14,"endTime":654.87,"body":"I think that there is always gonna be"},{"startTime":651.14,"endTime":654.87,"body":"benefits of going one P, which are,"},{"startTime":654.87,"endTime":658.59,"body":"which are clearly that you get mar you"},{"startTime":654.87,"endTime":658.59,"body":"get the marketing muscle of Amazon."},{"startTime":658.76,"endTime":661.35,"body":"If they want it, they buy it,"},{"startTime":658.76,"endTime":661.35,"body":"the economics can be better."},{"startTime":661.64,"endTime":664.95,"body":"It really depends on the weight of"},{"startTime":661.64,"endTime":664.95,"body":"the product and the cost of freight."},{"startTime":664.95,"endTime":669.07,"body":"You know, it could be different"},{"startTime":664.95,"endTime":669.07,"body":"for different industries."},{"startTime":669.07,"endTime":673.87,"body":"you know, it's tough because this is a"},{"startTime":669.07,"endTime":673.87,"body":"heavy product and, um, that involves,"},{"startTime":673.87,"endTime":675.47,"body":"you know, a lot of costs,"},{"startTime":675.47,"endTime":679.27,"body":"which you bear when you go three P"},{"startTime":675.47,"endTime":679.27,"body":"and you wouldn't necessarily bear,"},{"startTime":679.51,"endTime":683.03,"body":"although it is a major consideration,"},{"startTime":679.51,"endTime":683.03,"body":"you know, going one P. So you'd say, Hey,"},{"startTime":683.03,"endTime":686.95,"body":"you know, that advantage"},{"startTime":683.03,"endTime":686.95,"body":"one P, um, you know, uh,"},{"startTime":686.97,"endTime":690.67,"body":"the big negative could be that if you"},{"startTime":686.97,"endTime":690.67,"body":"don't have price discipline in your"},{"startTime":690.67,"endTime":692.07,"body":"channel, or if you're worried that you,"},{"startTime":692.07,"endTime":695.15,"body":"that you may not have price"},{"startTime":692.07,"endTime":695.15,"body":"discipline in your channel, uh,"},{"startTime":695.15,"endTime":697.51,"body":"and you're trying to make a"},{"startTime":695.15,"endTime":697.51,"body":"name for yourself in retail,"},{"startTime":697.51,"endTime":700.67,"body":"and you're going out to Walmart and"},{"startTime":697.51,"endTime":700.67,"body":"Target and Kroger, and these guys, well,"},{"startTime":700.67,"endTime":703.75,"body":"they're going out with"},{"startTime":700.67,"endTime":703.75,"body":"really low price goods,"},{"startTime":703.75,"endTime":706.55,"body":"and they're forcing you with even"},{"startTime":703.75,"endTime":706.55,"body":"lower margins. Mm-hmm. Right?"},{"startTime":706.57,"endTime":709.99,"body":"And they're expecting"},{"startTime":706.57,"endTime":709.99,"body":"to be able to go out at,"},{"startTime":709.99,"endTime":713.4,"body":"at prices that are much lower than"},{"startTime":709.99,"endTime":713.4,"body":"what you would want when you, you were,"},{"startTime":713.4,"endTime":716.64,"body":"when you're, when, if you're gonna"},{"startTime":713.4,"endTime":716.64,"body":"be three p, you're gonna, or,"},{"startTime":716.64,"endTime":719.4,"body":"or one p regardless, there's a"},{"startTime":716.64,"endTime":719.4,"body":"margin that you're trying to hit."},{"startTime":720.1,"endTime":724.84,"body":"And so you could be, uh, you could"},{"startTime":720.1,"endTime":724.84,"body":"be in a lot of trouble, you know,"},{"startTime":724.84,"endTime":727.55,"body":"if you don't, if you don't"},{"startTime":724.84,"endTime":727.55,"body":"make the right choice there,"},{"startTime":727.55,"endTime":730.63,"body":"and if it turns out that"},{"startTime":727.55,"endTime":730.63,"body":"you give up, uh, with one P,"},{"startTime":730.63,"endTime":733.23,"body":"you're giving up pricing"},{"startTime":730.63,"endTime":733.23,"body":"control. So with three P,"},{"startTime":733.23,"endTime":735.07,"body":"you can actually set your own price,"},{"startTime":735.07,"endTime":739.55,"body":"but with one P you're selling"},{"startTime":735.07,"endTime":739.55,"body":"to Amazon at a contracted price,"},{"startTime":739.55,"endTime":741.35,"body":"and they set the price. And so if the."},{"startTime":742.03,"endTime":742.47,"body":"Anything goes."},{"startTime":742.47,"endTime":745.83,"body":"Right, if you know, well, if you have"},{"startTime":742.47,"endTime":745.83,"body":"channel discipline, and you have per,"},{"startTime":745.83,"endTime":749.03,"body":"you know, ways to sort"},{"startTime":745.83,"endTime":749.03,"body":"of, you know, um, uh,"},{"startTime":749.68,"endTime":753.55,"body":"support your pricing through"},{"startTime":749.68,"endTime":753.55,"body":"like a map policy, for example,"},{"startTime":753.55,"endTime":755.59,"body":"which we can talk about, it's"},{"startTime":753.55,"endTime":755.59,"body":"an interesting, you know,"},{"startTime":755.91,"endTime":759.91,"body":"approach and how you use it or don't use"},{"startTime":755.91,"endTime":759.91,"body":"it, and the benefits, but it, you know,"},{"startTime":759.91,"endTime":762.75,"body":"there are ways that you can try"},{"startTime":759.91,"endTime":762.75,"body":"and control your channel, um,"},{"startTime":762.75,"endTime":767.59,"body":"to ensure that you don't get yourself"},{"startTime":762.75,"endTime":767.59,"body":"in a situation where if you are one"},{"startTime":767.59,"endTime":772.19,"body":"P that Amazon is able to, or will"},{"startTime":767.59,"endTime":772.19,"body":"in fact lower the price to the,"},{"startTime":772.39,"endTime":776.39,"body":"to the point where, you know, it no"},{"startTime":772.39,"endTime":776.39,"body":"longer becomes economic for you. And then,"},{"startTime":776.49,"endTime":779.27,"body":"you know, then where are you, you"},{"startTime":776.49,"endTime":779.27,"body":"know, they've set the price low,"},{"startTime":779.27,"endTime":781.47,"body":"it's too low for, you don't"},{"startTime":779.27,"endTime":781.47,"body":"wanna do business. Yes,"},{"startTime":781.47,"endTime":784.27,"body":"you can get volume out of Amazon,"},{"startTime":781.47,"endTime":784.27,"body":"but what good is that, do you,"},{"startTime":784.27,"endTime":786.47,"body":"if you're not making the"},{"startTime":784.27,"endTime":786.47,"body":"profit that you require?"},{"startTime":787.16,"endTime":790.23,"body":"So if you're, if you're pissing off"},{"startTime":787.16,"endTime":790.23,"body":"the rest of the channel, you know, uh,"},{"startTime":790.23,"endTime":793.03,"body":"your other, your other"},{"startTime":790.23,"endTime":793.03,"body":"retailers, but so, so you, you,"},{"startTime":793.39,"endTime":798.03,"body":"you went through p that's cool. I mean,"},{"startTime":793.39,"endTime":798.03,"body":"I'm, I'm, obviously, I, I love three P."},{"startTime":798.03,"endTime":800.63,"body":"Yeah, I definitely think sometimes"},{"startTime":798.03,"endTime":800.63,"body":"hybrid, depending on the weight,"},{"startTime":800.63,"endTime":803.39,"body":"like you said, is important."},{"startTime":800.63,"endTime":803.39,"body":"Yeah. But so now you're three P,"},{"startTime":803.39,"endTime":807.92,"body":"but you're still at zero. So"},{"startTime":803.39,"endTime":807.92,"body":"what's, before we even get into the,"},{"startTime":807.92,"endTime":811.32,"body":"how the hell did you get"},{"startTime":807.92,"endTime":811.32,"body":"velocity? Yeah. Because your,"},{"startTime":811.32,"endTime":814.96,"body":"your products are best sellers. I, you"},{"startTime":811.32,"endTime":814.96,"body":"know, I see a lot of the, the, the tags,"},{"startTime":815.33,"endTime":819.4,"body":"uh, the badges. But, um, how,"},{"startTime":815.33,"endTime":819.4,"body":"how, how are you fulfilling it?"},{"startTime":819.4,"endTime":822.96,"body":"Are you guys doing FBM yourself,"},{"startTime":819.4,"endTime":822.96,"body":"or are you shipping an fba?"},{"startTime":823.72,"endTime":828.51,"body":"No, we've predominantly done fba."},{"startTime":823.72,"endTime":828.51,"body":"And, um, and you know, again,"},{"startTime":828.51,"endTime":832.19,"body":"that's what that, what that is what"},{"startTime":828.51,"endTime":832.19,"body":"constrains the profitability to an extent,"},{"startTime":832.19,"endTime":834.47,"body":"because it is expensive and complicated."},{"startTime":834.65,"endTime":838.15,"body":"You have to sticker in a certain way"},{"startTime":834.65,"endTime":838.15,"body":"and get the product in there. It's a,"},{"startTime":838.15,"endTime":842.71,"body":"it's a real pain in the butt. Um, but"},{"startTime":838.15,"endTime":842.71,"body":"it's the most efficient way to go."},{"startTime":843.0,"endTime":847.11,"body":"Um, because if you're FBM then you"},{"startTime":843.0,"endTime":847.11,"body":"know, you don't get the benefit of,"},{"startTime":847.28,"endTime":850.99,"body":"of the prime badge, which is critical"},{"startTime":847.28,"endTime":850.99,"body":"for having a high conversion rate. So,"},{"startTime":851.09,"endTime":853.55,"body":"you know, you may feel like"},{"startTime":851.09,"endTime":853.55,"body":"you can, you know, and again,"},{"startTime":853.55,"endTime":857.23,"body":"it depends on freight and where you"},{"startTime":853.55,"endTime":857.23,"body":"are. We're a heavy product. So if I,"},{"startTime":857.23,"endTime":859.59,"body":"if we're located in New"},{"startTime":857.23,"endTime":859.59,"body":"Jersey and I gotta sell, send,"},{"startTime":859.59,"endTime":863.07,"body":"send the product over to California,"},{"startTime":859.59,"endTime":863.07,"body":"it's gonna be very expensive."},{"startTime":863.12,"endTime":867.95,"body":"Perhaps not so bad if I'm, you know, New"},{"startTime":863.12,"endTime":867.95,"body":"Jersey to New Jersey, the benefit of,"},{"startTime":868.28,"endTime":872.15,"body":"of Prime and FBA is that you get"},{"startTime":868.28,"endTime":872.15,"body":"your product into Amazon's network."},{"startTime":872.15,"endTime":873.95,"body":"And there's, they're clearly, you know,"},{"startTime":873.95,"endTime":878.67,"body":"the most efficient at distributing product"},{"startTime":873.95,"endTime":878.67,"body":"as close to where it needs to be at"},{"startTime":878.67,"endTime":881.43,"body":"the best PR price possible."},{"startTime":878.67,"endTime":881.43,"body":"But they do have you over the."},{"startTime":881.43,"endTime":882.51,"body":"Barrel. I, I found their,"},{"startTime":882.51,"endTime":887.39,"body":"their freight rate still like better"},{"startTime":882.51,"endTime":887.39,"body":"than no matter what we would get"},{"startTime":887.54,"endTime":892.08,"body":"U p s FedEx like you, you"},{"startTime":887.54,"endTime":892.08,"body":"know, so, so, uh, you know, we,"},{"startTime":892.08,"endTime":894.04,"body":"we have seller fulfilled prime, but you,"},{"startTime":894.04,"endTime":897.32,"body":"you're talking about big bucks when you're"},{"startTime":894.04,"endTime":897.32,"body":"starting to ship heavier stuff. And,"},{"startTime":897.32,"endTime":897.95,"body":"but."},{"startTime":897.95,"endTime":899.96,"body":"I'll skip, I wanna add"},{"startTime":897.95,"endTime":899.96,"body":"one thing, Adam, that,"},{"startTime":899.96,"endTime":904.24,"body":"that this allowed us to build"},{"startTime":899.96,"endTime":904.24,"body":"a very big website business."},{"startTime":904.25,"endTime":907.48,"body":"So from the beginning, we had this"},{"startTime":904.25,"endTime":907.48,"body":"website business, but we didn't,"},{"startTime":907.48,"endTime":909.8,"body":"we were having to ship it"},{"startTime":907.48,"endTime":909.8,"body":"outta the office, right?"},{"startTime":909.8,"endTime":913.44,"body":"We have the secretary sending,"},{"startTime":909.8,"endTime":913.44,"body":"sending a case of product, or like,"},{"startTime":913.44,"endTime":916.68,"body":"we gotta do something"},{"startTime":913.44,"endTime":916.68,"body":"here. And I discovered mcf,"},{"startTime":916.68,"endTime":919.0,"body":"which is multichannel"},{"startTime":916.68,"endTime":919.0,"body":"fulfillment. And this is a,"},{"startTime":919.03,"endTime":924.0,"body":"a program that Amazon has where"},{"startTime":919.03,"endTime":924.0,"body":"they're basically, um, you, you, you,"},{"startTime":924.17,"endTime":927.24,"body":"um, you, you, you take the inventory"},{"startTime":924.17,"endTime":927.24,"body":"that you already have in f b,"},{"startTime":927.24,"endTime":928.96,"body":"which is your own consigned inventory,"},{"startTime":929.06,"endTime":933.32,"body":"and they fulfill it for you and the"},{"startTime":929.06,"endTime":933.32,"body":"pick patent chip cost with the box and"},{"startTime":933.32,"endTime":934.28,"body":"everything. So."},{"startTime":934.28,"endTime":935.16,"body":"Then your three pl."},{"startTime":935.81,"endTime":940.72,"body":"Oh, and it's, and it's by far"},{"startTime":935.81,"endTime":940.72,"body":"the most economic way to get to,"},{"startTime":940.72,"endTime":944.04,"body":"to send product heavy light. Um, well,"},{"startTime":944.04,"endTime":948.2,"body":"I will say that when you get to"},{"startTime":944.04,"endTime":948.2,"body":"about, like three cases, you know,"},{"startTime":948.23,"endTime":952.28,"body":"then if you are in New York and"},{"startTime":948.23,"endTime":952.28,"body":"you have a place in New York,"},{"startTime":952.28,"endTime":954.8,"body":"you're sending to New York, it could"},{"startTime":952.28,"endTime":954.8,"body":"be cheaper. Or if you're in California,"},{"startTime":954.8,"endTime":958.52,"body":"you're sending, in California, it could"},{"startTime":954.8,"endTime":958.52,"body":"be cheaper. But for a 12 pack case of,"},{"startTime":958.61,"endTime":963.52,"body":"of drink, you know, 24 pack case"},{"startTime":958.61,"endTime":963.52,"body":"of drink or light stuff like a,"},{"startTime":963.52,"endTime":967.12,"body":"like a protein powder, like a"},{"startTime":963.52,"endTime":967.12,"body":"pound or two pounds, you know,"},{"startTime":967.12,"endTime":971.16,"body":"there's just no better deal than"},{"startTime":967.12,"endTime":971.16,"body":"Amazon M mcf. The, the, the,"},{"startTime":971.44,"endTime":976.2,"body":"the flip side is covid. So when"},{"startTime":971.44,"endTime":976.2,"body":"covid happened, everything flipped,"},{"startTime":976.58,"endTime":979.04,"body":"and F B A was toxic, you know? Yeah."},{"startTime":979.04,"endTime":980.44,"body":"Because they couldn't get"},{"startTime":979.04,"endTime":980.44,"body":"anything out the door."},{"startTime":980.44,"endTime":981.56,"body":"You couldn't get anything in the door."},{"startTime":981.94,"endTime":986.8,"body":"And so if you had f BM and you had"},{"startTime":981.94,"endTime":986.8,"body":"the ability to fulfill by merchant and"},{"startTime":986.8,"endTime":988.56,"body":"get your product out the door yourself,"},{"startTime":988.74,"endTime":992.48,"body":"you could actually win the buy box"},{"startTime":988.74,"endTime":992.48,"body":"and the listings and everything."},{"startTime":992.48,"endTime":996.76,"body":"It was a cockamamie time, you know,"},{"startTime":992.48,"endTime":996.76,"body":"crazy. But it forced us to think that, oh,"},{"startTime":996.76,"endTime":1000.52,"body":"wow, you know, Amazon's got"},{"startTime":996.76,"endTime":1000.52,"body":"us here. There are, there are,"},{"startTime":1000.89,"endTime":1004.08,"body":"it is where we sell. It's our, it's"},{"startTime":1000.89,"endTime":1004.08,"body":"also our fulfillment for our website."},{"startTime":1004.08,"endTime":1004.6,"body":"It's like,"},{"startTime":1004.6,"endTime":1007.68,"body":"we put a hundred percent of our eggs"},{"startTime":1004.6,"endTime":1007.68,"body":"in this company and they fell short."},{"startTime":1007.68,"endTime":1011.72,"body":"You know, we can't rely on Amazon,"},{"startTime":1007.68,"endTime":1011.72,"body":"they'll kill us. You know? So you can't."},{"startTime":1011.88,"endTime":1013.76,"body":"So, so were you able to now ship hybrid?"},{"startTime":1014.33,"endTime":1016.92,"body":"So now we're hybrid, we've"},{"startTime":1014.33,"endTime":1016.92,"body":"got, you know, three pls,"},{"startTime":1016.92,"endTime":1020.12,"body":"we've got a variety of them,"},{"startTime":1016.92,"endTime":1020.12,"body":"and, you know, the, the, the,"},{"startTime":1020.12,"endTime":1024.64,"body":"and I'm glad we did because the"},{"startTime":1020.12,"endTime":1024.64,"body":"complexity and challenge, uh,"},{"startTime":1024.64,"endTime":1027.92,"body":"that has befallen us, I would"},{"startTime":1024.64,"endTime":1027.92,"body":"say over the last five years,"},{"startTime":1027.92,"endTime":1032.28,"body":"due to our growth in, in"},{"startTime":1027.92,"endTime":1032.28,"body":"actually turning product as,"},{"startTime":1032.33,"endTime":1035.52,"body":"as quickly as we have to, in"},{"startTime":1032.33,"endTime":1035.52,"body":"order to get product into FBA,"},{"startTime":1035.52,"endTime":1038.4,"body":"is a monumental challenge."},{"startTime":1035.52,"endTime":1038.4,"body":"And it's very expensive."},{"startTime":1038.58,"endTime":1043.04,"body":"And we're at the point now where this is"},{"startTime":1038.58,"endTime":1043.04,"body":"where you have to consider the benefits"},{"startTime":1043.04,"endTime":1047.32,"body":"of one P over three P. And we're"},{"startTime":1043.04,"endTime":1047.32,"body":"actually now, um, at that point,"},{"startTime":1047.32,"endTime":1050.96,"body":"we're actively in, let's say, negotiations"},{"startTime":1047.32,"endTime":1050.96,"body":"with Amazon on the very subject."},{"startTime":1050.96,"endTime":1053.0,"body":"So we can talk about That's"},{"startTime":1050.96,"endTime":1053.0,"body":"an interesting moment."},{"startTime":1053.29,"endTime":1056.8,"body":"So, so you're actually, um,"},{"startTime":1053.29,"endTime":1056.8,"body":"thinking about going back."},{"startTime":1056.83,"endTime":1059.68,"body":"Yeah. Cause you know,"},{"startTime":1056.83,"endTime":1059.68,"body":"look, we're, we are, um,"},{"startTime":1059.85,"endTime":1064.32,"body":"by far the largest beverage"},{"startTime":1059.85,"endTime":1064.32,"body":"company on Amazon, on three p,"},{"startTime":1064.57,"endTime":1068.8,"body":"by a, by a long way. We're one of the"},{"startTime":1064.57,"endTime":1068.8,"body":"fastest, we are the fastest growing,"},{"startTime":1069.45,"endTime":1073.44,"body":"uh, uh, beverage and protein"},{"startTime":1069.45,"endTime":1073.44,"body":"drink in the country. And, um,"},{"startTime":1073.66,"endTime":1076.84,"body":"and on Amazon, you know, our"},{"startTime":1073.66,"endTime":1076.84,"body":"growth has been spectacular."},{"startTime":1076.84,"endTime":1081.68,"body":"We're still short of the"},{"startTime":1076.84,"endTime":1081.68,"body":"biggest guys who represent,"},{"startTime":1082.18,"endTime":1085.76,"body":"you know, big brands"},{"startTime":1082.18,"endTime":1085.76,"body":"that are owned by, um,"},{"startTime":1085.99,"endTime":1090.44,"body":"Nestle and mm-hmm. \u003caffirmative\u003e, uh,"},{"startTime":1085.99,"endTime":1090.44,"body":"you know, major, major CPG companies,"},{"startTime":1090.44,"endTime":1095.08,"body":"the people that hope, you know, we hope"},{"startTime":1090.44,"endTime":1095.08,"body":"to sell our company to one day. Um, uh,"},{"startTime":1095.08,"endTime":1096.2,"body":"but so, but we're,"},{"startTime":1096.2,"endTime":1100.96,"body":"we're at that point where we could be"},{"startTime":1096.2,"endTime":1100.96,"body":"in a situation where they may force us,"},{"startTime":1101.61,"endTime":1105.4,"body":"um, uh, to do one p. Uh,"},{"startTime":1101.61,"endTime":1105.4,"body":"and we don't wanna be."},{"startTime":1105.4,"endTime":1108.0,"body":"Clear. How could they do that? How can"},{"startTime":1105.4,"endTime":1108.0,"body":"they force you? Like, what would they do?"},{"startTime":1108.0,"endTime":1108.36,"body":"Well."},{"startTime":1108.36,"endTime":1111.84,"body":"Cause, you know, they do it, like,"},{"startTime":1108.36,"endTime":1111.84,"body":"we're starting to see it on three P,"},{"startTime":1111.84,"endTime":1113.44,"body":"something we hadn't"},{"startTime":1111.84,"endTime":1113.44,"body":"seen in, you know, ever."},{"startTime":1113.44,"endTime":1116.92,"body":"But in the last couple years we saw it"},{"startTime":1113.44,"endTime":1116.92,"body":"where you could lose a listing or the buy"},{"startTime":1116.92,"endTime":1121.08,"body":"box if they're doing a price compare,"},{"startTime":1116.92,"endTime":1121.08,"body":"um, you know, as if it was one P."},{"startTime":1121.08,"endTime":1124.68,"body":"So with one P, if they do a price compare,"},{"startTime":1121.08,"endTime":1124.68,"body":"they just drop the price and you're,"},{"startTime":1124.68,"endTime":1127.08,"body":"you know, that's it. But in three"},{"startTime":1124.68,"endTime":1127.08,"body":"p, we'll, how do they do that?"},{"startTime":1127.1,"endTime":1129.96,"body":"How can they do that? Because"},{"startTime":1127.1,"endTime":1129.96,"body":"we can control our price. Well,"},{"startTime":1129.96,"endTime":1131.24,"body":"they got one up on us,"},{"startTime":1131.24,"endTime":1134.68,"body":"which is that they can just make it so"},{"startTime":1131.24,"endTime":1134.68,"body":"that the listing isn't available. That."},{"startTime":1134.68,"endTime":1136.72,"body":"That's shocking. So, so"},{"startTime":1134.68,"endTime":1136.72,"body":"you've had some listings,"},{"startTime":1136.91,"endTime":1138.6,"body":"you've had some buy boxes to press."},{"startTime":1138.83,"endTime":1141.76,"body":"What's that? Yeah, we've had,"},{"startTime":1138.83,"endTime":1141.76,"body":"we've had some, we've had, yeah."},{"startTime":1141.76,"endTime":1144.88,"body":"And so part of it is like, okay,"},{"startTime":1141.76,"endTime":1144.88,"body":"there's a deal going on at, at Walmart,"},{"startTime":1145.26,"endTime":1149.44,"body":"you know, with my retail guys"},{"startTime":1145.26,"endTime":1149.44,"body":"of running a deal and, and,"},{"startTime":1149.44,"endTime":1153.92,"body":"and Amazon's doing a price match and"},{"startTime":1149.44,"endTime":1153.92,"body":"boom, boom. So thank God my, you know, my,"},{"startTime":1153.97,"endTime":1158.4,"body":"my entire portfolio isn't"},{"startTime":1153.97,"endTime":1158.4,"body":"in an, in these other,"},{"startTime":1159.09,"endTime":1160.8,"body":"uh, you know, uh, stores,"},{"startTime":1160.8,"endTime":1164.36,"body":"because Amazon will be very"},{"startTime":1160.8,"endTime":1164.36,"body":"aggressive now on three Ps as well."},{"startTime":1164.58,"endTime":1166.88,"body":"And so they could, if that"},{"startTime":1164.58,"endTime":1166.88,"body":"was on your main product,"},{"startTime":1166.88,"endTime":1169.12,"body":"they could just shut you down"},{"startTime":1166.88,"endTime":1169.12,"body":"across the way and say, you know,"},{"startTime":1169.12,"endTime":1173.76,"body":"come to one P and then yeah. A"},{"startTime":1169.12,"endTime":1173.76,"body":"problem solved. So, you know, look,"},{"startTime":1173.76,"endTime":1176.16,"body":"I don't think that, I mean, we're"},{"startTime":1173.76,"endTime":1176.16,"body":"not there yet. When, if anything,"},{"startTime":1176.91,"endTime":1178.92,"body":"from a resource perspective, you know,"},{"startTime":1178.92,"endTime":1183.76,"body":"they're not touching people that aren't"},{"startTime":1178.92,"endTime":1183.76,"body":"lower than, you know, 30 million,"},{"startTime":1184.18,"endTime":1187.92,"body":"you know? Uh, so, you know, it's,"},{"startTime":1184.18,"endTime":1187.92,"body":"it's not like the old days where,"},{"startTime":1187.92,"endTime":1190.76,"body":"and it's different in different"},{"startTime":1187.92,"endTime":1190.76,"body":"industries, you know, uh,"},{"startTime":1190.76,"endTime":1194.8,"body":"when I was in furniture, we weren't,"},{"startTime":1190.76,"endTime":1194.8,"body":"even, when I was doing five, 10 million,"},{"startTime":1195.01,"endTime":1199.6,"body":"we were doing one p we had"},{"startTime":1195.01,"endTime":1199.6,"body":"vendor relationships and"},{"startTime":1199.74,"endTime":1200.3,"body":"but there."},{"startTime":1200.3,"endTime":1202.64,"body":"But there's, but there's"},{"startTime":1200.3,"endTime":1202.64,"body":"no humans on the, on,"},{"startTime":1202.64,"endTime":1204.36,"body":"on below 30 is what you're saying."},{"startTime":1204.39,"endTime":1207.8,"body":"I mean, it star Yeah. Pretty"},{"startTime":1204.39,"endTime":1207.8,"body":"much. Exactly. And so, and."},{"startTime":1207.96,"endTime":1210.72,"body":"Ballpark you, I mean, I don't know, I"},{"startTime":1207.96,"endTime":1210.72,"body":"didn't talk to you before, but I mean,"},{"startTime":1210.72,"endTime":1215.05,"body":"can, can you we're, yeah. So"},{"startTime":1210.72,"endTime":1215.05,"body":"you're, you're at the 30 ish."},{"startTime":1215.28,"endTime":1219.01,"body":"Yeah. I mean, we're, we're there and,"},{"startTime":1215.28,"endTime":1219.01,"body":"and growing so fast that, you know,"},{"startTime":1219.14,"endTime":1221.77,"body":"if you just wait a minute, we're,"},{"startTime":1219.14,"endTime":1221.77,"body":"you know, we're well beyond."},{"startTime":1222.06,"endTime":1225.49,"body":"So that's why I'm saying we're being"},{"startTime":1222.06,"endTime":1225.49,"body":"told by number of sources that we're,"},{"startTime":1226.13,"endTime":1229.37,"body":"we're at the, we're the biggest"},{"startTime":1226.13,"endTime":1229.37,"body":"three p there is, and you can,"},{"startTime":1229.37,"endTime":1233.57,"body":"we can feel it because we're kind of"},{"startTime":1229.37,"endTime":1233.57,"body":"groaning under the operational weight"},{"startTime":1234.26,"endTime":1238.85,"body":"of, of turning, uh, you"},{"startTime":1234.26,"endTime":1238.85,"body":"know, uh, stickers on,"},{"startTime":1239.1,"endTime":1241.65,"body":"on f b boxes, which is a"},{"startTime":1239.1,"endTime":1241.65,"body":"monumental task. I mean,"},{"startTime":1241.65,"endTime":1246.33,"body":"we're talking a hundred thousand"},{"startTime":1241.65,"endTime":1246.33,"body":"cases a month of stickers, you know,"},{"startTime":1246.43,"endTime":1249.28,"body":"and, and you're dealing with"},{"startTime":1246.43,"endTime":1249.28,"body":"three pls and who does that?"},{"startTime":1249.28,"endTime":1252.8,"body":"And it's just been a really"},{"startTime":1249.28,"endTime":1252.8,"body":"challenging moment, uh, with labor."},{"startTime":1253.02,"endTime":1257.36,"body":"And who are the three pls out there"},{"startTime":1253.02,"endTime":1257.36,"body":"who do this? Not many. Right. You know,"},{"startTime":1257.62,"endTime":1261.04,"body":"and, uh, and so, cuz you know, when we"},{"startTime":1257.62,"endTime":1261.04,"body":"did it in furniture and other businesses,"},{"startTime":1261.04,"endTime":1263.76,"body":"you do it yourself. When the Mac"},{"startTime":1261.04,"endTime":1263.76,"body":"Mall and all the stuff that we did,"},{"startTime":1263.76,"endTime":1266.92,"body":"we did it ourselves. We had our own"},{"startTime":1263.76,"endTime":1266.92,"body":"warehouses and everything like that."},{"startTime":1267.05,"endTime":1270.08,"body":"As a startup, clearly"},{"startTime":1267.05,"endTime":1270.08,"body":"that's where we need to be."},{"startTime":1270.35,"endTime":1275.04,"body":"I told my guys on the first month in 2017"},{"startTime":1270.35,"endTime":1275.04,"body":"when I did the math and you saw the p"},{"startTime":1275.04,"endTime":1279.8,"body":"and l from a three p, the whole"},{"startTime":1275.04,"endTime":1279.8,"body":"bit fba, you're like, yeah, no,"},{"startTime":1279.8,"endTime":1283.84,"body":"this isn't gonna work. Eventually you're"},{"startTime":1279.8,"endTime":1283.84,"body":"gonna have to have your own, you know,"},{"startTime":1283.84,"endTime":1287.16,"body":"your own warehouse and a forklift,"},{"startTime":1283.84,"endTime":1287.16,"body":"and it's a muscle, right?"},{"startTime":1287.16,"endTime":1289.2,"body":"It's not fun, but Sure. Makes sense."},{"startTime":1289.61,"endTime":1294.16,"body":"So, uh, but so, so you're the, so"},{"startTime":1289.61,"endTime":1294.16,"body":"the challenge of having to, you know,"},{"startTime":1294.16,"endTime":1296.08,"body":"even with one P, you're"},{"startTime":1294.16,"endTime":1296.08,"body":"gonna have to do stickering,"},{"startTime":1296.22,"endTime":1299.2,"body":"but there are programs that they"},{"startTime":1296.22,"endTime":1299.2,"body":"have, you know, where you pay a a."},{"startTime":1299.2,"endTime":1300.36,"body":"You pay them. Yeah. So."},{"startTime":1301.13,"endTime":1304.48,"body":"It makes, you know, but, you know, but"},{"startTime":1301.13,"endTime":1304.48,"body":"they, to do like a full pallet, you know,"},{"startTime":1304.48,"endTime":1305.64,"body":"you could wrap a whole pallet."},{"startTime":1305.64,"endTime":1308.64,"body":"You don't have to sticker every box"},{"startTime":1305.64,"endTime":1308.64,"body":"in the pallet. I mean, the, the,"},{"startTime":1308.64,"endTime":1311.72,"body":"the cost savings there"},{"startTime":1308.64,"endTime":1311.72,"body":"alone. In any event, the,"},{"startTime":1311.72,"endTime":1316.64,"body":"the economics of moving to one"},{"startTime":1311.72,"endTime":1316.64,"body":"p, um, are tremendous. Like we,"},{"startTime":1316.64,"endTime":1320.4,"body":"we can see a huge potential"},{"startTime":1316.64,"endTime":1320.4,"body":"upside in, in unit velocity."},{"startTime":1321.37,"endTime":1326.04,"body":"Um, we think that we can make a lot"},{"startTime":1321.37,"endTime":1326.04,"body":"more money than we ever did, you know,"},{"startTime":1326.4,"endTime":1328.72,"body":"before. Um, uh, but."},{"startTime":1328.72,"endTime":1330.68,"body":"But aren't, but aren't they gonna want a,"},{"startTime":1330.68,"endTime":1334.8,"body":"a wholesale price and then"},{"startTime":1330.68,"endTime":1334.8,"body":"other charges and fees from you?"},{"startTime":1334.8,"endTime":1335.8,"body":"That's not gonna."},{"startTime":1336.72,"endTime":1340.48,"body":"Great. Great point. And"},{"startTime":1336.72,"endTime":1340.48,"body":"those are the major, uh,"},{"startTime":1340.65,"endTime":1341.84,"body":"gotchas that would,"},{"startTime":1341.84,"endTime":1346.24,"body":"would want us to sort of stick around"},{"startTime":1341.84,"endTime":1346.24,"body":"with three P is long as we possibly can,"},{"startTime":1346.24,"endTime":1350.56,"body":"because for two reasons. One,"},{"startTime":1346.24,"endTime":1350.56,"body":"um, as you say operationally,"},{"startTime":1351.09,"endTime":1355.76,"body":"uh, and this is a critical point,"},{"startTime":1351.09,"endTime":1355.76,"body":"um, in one p, if you don't,"},{"startTime":1355.89,"endTime":1358.0,"body":"if, if you're not turning"},{"startTime":1355.89,"endTime":1358.0,"body":"around your product,"},{"startTime":1358.0,"endTime":1359.56,"body":"particularly with wholesale one P,"},{"startTime":1359.56,"endTime":1361.84,"body":"you're se sending your product"},{"startTime":1359.56,"endTime":1361.84,"body":"after they give you appeal,"},{"startTime":1361.94,"endTime":1366.28,"body":"you got 48 hours to turn that around. And"},{"startTime":1361.94,"endTime":1366.28,"body":"if you're late, or if they're damages,"},{"startTime":1366.82,"endTime":1370.24,"body":"you get a whole bunch of chargebacks,"},{"startTime":1366.82,"endTime":1370.24,"body":"it messes up your p and l,"},{"startTime":1370.38,"endTime":1373.04,"body":"you don't think you're getting"},{"startTime":1370.38,"endTime":1373.04,"body":"the money. And then after a year,"},{"startTime":1373.04,"endTime":1377.92,"body":"they're gonna come back to you and hit"},{"startTime":1373.04,"endTime":1377.92,"body":"you up with higher allowance requirements"},{"startTime":1377.92,"endTime":1381.24,"body":"for returns and freight"},{"startTime":1377.92,"endTime":1381.24,"body":"and all these other things."},{"startTime":1381.24,"endTime":1385.0,"body":"And then you're still at their"},{"startTime":1381.24,"endTime":1385.0,"body":"mercy and issuing a purchase order."},{"startTime":1385.0,"endTime":1389.68,"body":"And so if you've got issues with"},{"startTime":1385.0,"endTime":1389.68,"body":"your own supply chain and getting"},{"startTime":1389.68,"endTime":1393.32,"body":"product in and keeping certain"},{"startTime":1389.68,"endTime":1393.32,"body":"s skews in stock, and, you know,"},{"startTime":1393.32,"endTime":1395.24,"body":"and you're not flushing working capitals,"},{"startTime":1395.24,"endTime":1399.16,"body":"you don't have an unlimited amount of"},{"startTime":1395.24,"endTime":1399.16,"body":"working capital to deploy to make sure"},{"startTime":1399.16,"endTime":1401.4,"body":"that you're not out of stock. Right?"},{"startTime":1401.82,"endTime":1404.72,"body":"And if you don't have that product"},{"startTime":1401.82,"endTime":1404.72,"body":"and it messes with their algorithm,"},{"startTime":1404.72,"endTime":1407.16,"body":"and then they don't send you the"},{"startTime":1404.72,"endTime":1407.16,"body":"right po and it's just like, you know,"},{"startTime":1407.16,"endTime":1408.56,"body":"you don't have any of that with three p,"},{"startTime":1408.56,"endTime":1412.36,"body":"it's like you manage your own"},{"startTime":1408.56,"endTime":1412.36,"body":"forecasting supply chain, you send it in,"},{"startTime":1412.62,"endTime":1416.8,"body":"but it also is a major drain on"},{"startTime":1412.62,"endTime":1416.8,"body":"working capital because it's taking,"},{"startTime":1417.18,"endTime":1418.8,"body":"you know, a hundred days from,"},{"startTime":1419.57,"endTime":1423.12,"body":"to get from the point of manufacturing"},{"startTime":1419.57,"endTime":1423.12,"body":"to get it available for sale."},{"startTime":1423.12,"endTime":1424.4,"body":"It's a huge cash."},{"startTime":1424.4,"endTime":1425.92,"body":"Sale. I mean, I, I mean we, well,"},{"startTime":1426.21,"endTime":1428.64,"body":"it doesn't matter whether they"},{"startTime":1426.21,"endTime":1428.64,"body":"buy it or you ship it up there,"},{"startTime":1428.64,"endTime":1431.68,"body":"just getting the product to"},{"startTime":1428.64,"endTime":1431.68,"body":"Amazon eats lots of weeks."},{"startTime":1432.02,"endTime":1436.64,"body":"Yes. And that to me, you know,"},{"startTime":1432.02,"endTime":1436.64,"body":"and so, so we're, that's the, um,"},{"startTime":1436.75,"endTime":1439.76,"body":"that's the, the challenge that"},{"startTime":1436.75,"endTime":1439.76,"body":"we're up against where you sort of,"},{"startTime":1439.76,"endTime":1441.04,"body":"you look at the efficiency,"},{"startTime":1441.1,"endTime":1445.16,"body":"the inherent efficiency of Amazon's"},{"startTime":1441.1,"endTime":1445.16,"body":"logistics network and getting your product"},{"startTime":1445.19,"endTime":1450.08,"body":"into the right place at the right time,"},{"startTime":1445.19,"endTime":1450.08,"body":"ready for sale to the consumer. Uh,"},{"startTime":1450.08,"endTime":1453.44,"body":"and don't forget, subscribe and"},{"startTime":1450.08,"endTime":1453.44,"body":"save and the benefits of, of."},{"startTime":1453.63,"endTime":1456.48,"body":"Yeah, no. So talk, talk about that."},{"startTime":1453.63,"endTime":1456.48,"body":"Because when we talked about it, like,"},{"startTime":1456.48,"endTime":1458.36,"body":"you know, most people when they,"},{"startTime":1456.48,"endTime":1458.36,"body":"I shouldn't say most people,"},{"startTime":1458.36,"endTime":1460.84,"body":"it depends on the type of product,"},{"startTime":1458.36,"endTime":1460.84,"body":"but when you sell on Amazon,"},{"startTime":1460.84,"endTime":1465.8,"body":"you don't really own the customer,"},{"startTime":1460.84,"endTime":1465.8,"body":"but your brand, um, on Amazon, it, it,"},{"startTime":1465.8,"endTime":1467.4,"body":"it's a great promotion for your brand."},{"startTime":1467.4,"endTime":1469.64,"body":"So it really doesn't matter"},{"startTime":1467.4,"endTime":1469.64,"body":"if they buy it from Amazon,"},{"startTime":1469.81,"endTime":1473.24,"body":"as long as they're buying your brand,"},{"startTime":1469.81,"endTime":1473.24,"body":"they could buy it anywhere. I mean,"},{"startTime":1473.24,"endTime":1475.84,"body":"so Amazon has a huge halo"},{"startTime":1473.24,"endTime":1475.84,"body":"effect for you, doesn't it?"},{"startTime":1476.41,"endTime":1480.32,"body":"It does. It's also vice"},{"startTime":1476.41,"endTime":1480.32,"body":"versa. So, um, you know,"},{"startTime":1480.32,"endTime":1482.08,"body":"we really are truly omnichannel,"},{"startTime":1482.08,"endTime":1486.84,"body":"and so we've seen the growth in our"},{"startTime":1482.08,"endTime":1486.84,"body":"business piggyback each other. Um, so,"},{"startTime":1486.84,"endTime":1490.92,"body":"you know, prior to Covid,"},{"startTime":1486.84,"endTime":1490.92,"body":"um, we, we started to,"},{"startTime":1490.93,"endTime":1494.04,"body":"we started with e-comm cuz we didn't have"},{"startTime":1490.93,"endTime":1494.04,"body":"retail. And suddenly you're in retail,"},{"startTime":1494.1,"endTime":1498.32,"body":"and then the retail starts"},{"startTime":1494.1,"endTime":1498.32,"body":"to lead into sales online,"},{"startTime":1498.66,"endTime":1502.6,"body":"and then Covid happens, and then retail"},{"startTime":1498.66,"endTime":1502.6,"body":"falls apart and online goes crazy. Yeah."},{"startTime":1502.6,"endTime":1507.2,"body":"And then, and then online still is"},{"startTime":1502.6,"endTime":1507.2,"body":"going crazy while retail is now,"},{"startTime":1507.46,"endTime":1511.8,"body":"you know, going crazy and retail"},{"startTime":1507.46,"endTime":1511.8,"body":"going crazy is now buffeting,"},{"startTime":1512.13,"endTime":1516.84,"body":"uh, e-com and it's sort of this"},{"startTime":1512.13,"endTime":1516.84,"body":"virtuous cycle. Uh, but yes, I mean,"},{"startTime":1516.84,"endTime":1520.4,"body":"being on Amazon, you know, is, is"},{"startTime":1516.84,"endTime":1520.4,"body":"extremely important for the brand."},{"startTime":1520.41,"endTime":1521.36,"body":"It is. And the beauty,"},{"startTime":1521.36,"endTime":1524.64,"body":"beauty of having a product that people"},{"startTime":1521.36,"endTime":1524.64,"body":"continue to use over and over again"},{"startTime":1524.64,"endTime":1525.28,"body":"where, you know,"},{"startTime":1525.28,"endTime":1527.72,"body":"you sell a computer and you gotta"},{"startTime":1525.28,"endTime":1527.72,"body":"wait the next couple of years,"},{"startTime":1527.84,"endTime":1530.68,"body":"maybe they'll buy one or they'll buy"},{"startTime":1527.84,"endTime":1530.68,"body":"an accessory, but it's different."},{"startTime":1530.68,"endTime":1533.6,"body":"People are buying your stuff every"},{"startTime":1530.68,"endTime":1533.6,"body":"day, every week, every month,"},{"startTime":1533.8,"endTime":1536.44,"body":"whatever their schedule is. So,"},{"startTime":1533.8,"endTime":1536.44,"body":"so how does that work with the,"},{"startTime":1536.44,"endTime":1540.16,"body":"the subscriptions? Uh, I mean, that,"},{"startTime":1536.44,"endTime":1540.16,"body":"that's pretty interesting. Is that,"},{"startTime":1540.16,"endTime":1541.84,"body":"is that economic? Does"},{"startTime":1540.16,"endTime":1541.84,"body":"that work for you guys?"},{"startTime":1542.05,"endTime":1543.8,"body":"Oh, yeah, I mean,"},{"startTime":1542.05,"endTime":1543.8,"body":"subscribe and save is, uh,"},{"startTime":1543.8,"endTime":1547.36,"body":"is hugely beneficial both on Amazon"},{"startTime":1543.8,"endTime":1547.36,"body":"and on our website. You know,"},{"startTime":1547.36,"endTime":1552.04,"body":"we're very robust and the reality"},{"startTime":1547.36,"endTime":1552.04,"body":"is that the lifetime value of a"},{"startTime":1552.28,"endTime":1557.04,"body":"customer, um, who subscribes"},{"startTime":1552.28,"endTime":1557.04,"body":"is significantly higher"},{"startTime":1557.04,"endTime":1558.76,"body":"and that's with a big discount."},{"startTime":1558.76,"endTime":1562.96,"body":"That's even if you say 50% off"},{"startTime":1558.76,"endTime":1562.96,"body":"your first subscription, you know,"},{"startTime":1562.96,"endTime":1565.56,"body":"you get 'em in and then there's"},{"startTime":1562.96,"endTime":1565.56,"body":"a habit, and then they just,"},{"startTime":1565.56,"endTime":1569.88,"body":"it just keeps on coming. Now you"},{"startTime":1565.56,"endTime":1569.88,"body":"still have, uh, to contend with,"},{"startTime":1570.25,"endTime":1574.04,"body":"uh, uh, do you have a good product? Is"},{"startTime":1570.25,"endTime":1574.04,"body":"it is, does it taste good? You know,"},{"startTime":1574.04,"endTime":1575.4,"body":"is it something that repeats?"},{"startTime":1575.61,"endTime":1580.52,"body":"So part of our initial success on"},{"startTime":1575.61,"endTime":1580.52,"body":"Amazon was really related to having a"},{"startTime":1580.64,"endTime":1585.36,"body":"quick understanding as to"},{"startTime":1580.64,"endTime":1585.36,"body":"what the repeat rate of"},{"startTime":1585.62,"endTime":1589.8,"body":"our products were. And you know, as"},{"startTime":1585.62,"endTime":1589.8,"body":"you say, these aren't our customers."},{"startTime":1590.22,"endTime":1594.88,"body":"And, uh, so how do you do that? Well,"},{"startTime":1590.22,"endTime":1594.88,"body":"there's a trick. Uh, you know, the, uh,"},{"startTime":1594.88,"endTime":1599.48,"body":"what you do get from Amazon is a,"},{"startTime":1594.88,"endTime":1599.48,"body":"is a hash email address. Mm-hmm."},{"startTime":1599.52,"endTime":1603.6,"body":"\u003caffirmative\u003e, okay, well, that hash"},{"startTime":1599.52,"endTime":1603.6,"body":"email address, uh, if, if, if a,"},{"startTime":1603.6,"endTime":1608.52,"body":"if you're Adam Schaffer and you've got"},{"startTime":1603.6,"endTime":1608.52,"body":"your login to Amazon Prime, uh, and,"},{"startTime":1608.52,"endTime":1611.04,"body":"and they give me your hash"},{"startTime":1608.52,"endTime":1611.04,"body":"email address when you buy Owen,"},{"startTime":1611.07,"endTime":1615.92,"body":"when you come back a month later or"},{"startTime":1611.07,"endTime":1615.92,"body":"two months later and use your login,"},{"startTime":1616.14,"endTime":1617.48,"body":"I'm getting the same hash email."},{"startTime":1617.48,"endTime":1619.2,"body":"So, so, so you're able to match, so you."},{"startTime":1619.79,"endTime":1621.48,"body":"Yeah, I can do identity. So."},{"startTime":1621.48,"endTime":1622.32,"body":"You can't talk to me,"},{"startTime":1622.32,"endTime":1624.96,"body":"but you can actually see how many"},{"startTime":1622.32,"endTime":1624.96,"body":"people are coming back that's can."},{"startTime":1624.96,"endTime":1628.32,"body":"Do an, I can do an RFM analysis"},{"startTime":1624.96,"endTime":1628.32,"body":"here, recency, frequency, monetary,"},{"startTime":1628.59,"endTime":1633.28,"body":"I can understand what's the"},{"startTime":1628.59,"endTime":1633.28,"body":"repeat rate of people who buy this"},{"startTime":1633.39,"endTime":1637.76,"body":"flavor as their first flavor. So"},{"startTime":1633.39,"endTime":1637.76,"body":"when we started to see that, we, we,"},{"startTime":1637.76,"endTime":1640.92,"body":"we could see, oh, first of all, we"},{"startTime":1637.76,"endTime":1640.92,"body":"have a very high repeat rate. I mean,"},{"startTime":1640.92,"endTime":1645.48,"body":"well over 50% of our customers"},{"startTime":1640.92,"endTime":1645.48,"body":"repeat, which is, you know,"},{"startTime":1645.52,"endTime":1647.56,"body":"crazy, crazy high. Then the next."},{"startTime":1647.56,"endTime":1648.04,"body":"Have a good."},{"startTime":1648.04,"endTime":1651.2,"body":"Product. Yeah, it's a great product."},{"startTime":1648.04,"endTime":1651.2,"body":"And that's the key, right? So you got,"},{"startTime":1651.2,"endTime":1655.0,"body":"if you don't have a good product,"},{"startTime":1651.2,"endTime":1655.0,"body":"you know, go, go away. In fact,"},{"startTime":1655.21,"endTime":1659.88,"body":"we would identify through"},{"startTime":1655.21,"endTime":1659.88,"body":"reviews and through this analysis"},{"startTime":1660.07,"endTime":1660.96,"body":"that, hey,"},{"startTime":1660.96,"endTime":1665.92,"body":"we got a flavor here and tropical"},{"startTime":1660.96,"endTime":1665.92,"body":"and matcha powder that nobody cared"},{"startTime":1665.92,"endTime":1667.56,"body":"for. The repeat rate was poor,"},{"startTime":1667.66,"endTime":1671.4,"body":"and it was a kind of a canary in the"},{"startTime":1667.66,"endTime":1671.4,"body":"coal mine for the entire business to say,"},{"startTime":1671.4,"endTime":1674.44,"body":"Hey, let's, let's kill this"},{"startTime":1671.4,"endTime":1674.44,"body":"thing. Because, you know,"},{"startTime":1674.44,"endTime":1676.12,"body":"it's not good for the"},{"startTime":1674.44,"endTime":1676.12,"body":"brand. It doesn't have,"},{"startTime":1676.12,"endTime":1679.12,"body":"it's not gonna have the same"},{"startTime":1676.12,"endTime":1679.12,"body":"profitability over the long haul."},{"startTime":1679.12,"endTime":1681.68,"body":"You guys stick with your"},{"startTime":1679.12,"endTime":1681.68,"body":"winners. So, you know,"},{"startTime":1681.68,"endTime":1685.68,"body":"even though things are sort"},{"startTime":1681.68,"endTime":1685.68,"body":"of hidden in the Amazon world,"},{"startTime":1685.68,"endTime":1690.44,"body":"you can glean good information now with"},{"startTime":1685.68,"endTime":1690.44,"body":"one P you lose that string altogether."},{"startTime":1690.44,"endTime":1693.68,"body":"So that's, you know, I mean, I think"},{"startTime":1690.44,"endTime":1693.68,"body":"at this point, we understand the, your."},{"startTime":1693.84,"endTime":1694.32,"body":"Business, if."},{"startTime":1694.32,"endTime":1694.96,"body":"You're the customer,"},{"startTime":1694.96,"endTime":1698.68,"body":"and the number of repeats per repeater"},{"startTime":1694.96,"endTime":1698.68,"body":"and all the good stuff that tells you"},{"startTime":1698.79,"endTime":1703.12,"body":"that you've got a winner. Uh, uh,"},{"startTime":1698.79,"endTime":1703.12,"body":"so, you know, again, there's a,"},{"startTime":1703.55,"endTime":1707.52,"body":"a huge number of positives associated"},{"startTime":1703.55,"endTime":1707.52,"body":"that can be associated with going to one"},{"startTime":1707.55,"endTime":1712.04,"body":"P. But what gives us that, you know,"},{"startTime":1707.55,"endTime":1712.04,"body":"trepidation, number one is operational."},{"startTime":1712.04,"endTime":1716.4,"body":"Can you deliver without flooding up"},{"startTime":1712.04,"endTime":1716.4,"body":"so that you're gonna get all these"},{"startTime":1716.4,"endTime":1720.96,"body":"chargebacks and it's not worth your"},{"startTime":1716.4,"endTime":1720.96,"body":"while. Um, revenue as you say, um,"},{"startTime":1720.96,"endTime":1722.28,"body":"will be, uh,"},{"startTime":1722.28,"endTime":1726.96,"body":"reduced relative to what your"},{"startTime":1722.28,"endTime":1726.96,"body":"investors expect because, uh,"},{"startTime":1727.06,"endTime":1729.16,"body":"you know, it's gonna"},{"startTime":1727.06,"endTime":1729.16,"body":"be wholesale price now."},{"startTime":1729.16,"endTime":1732.04,"body":"So my top line is gonna"},{"startTime":1729.16,"endTime":1732.04,"body":"be reduced per unit,"},{"startTime":1732.04,"endTime":1736.12,"body":"presumably the question's gonna be"},{"startTime":1732.04,"endTime":1736.12,"body":"the elasticity. And will I have a big,"},{"startTime":1736.12,"endTime":1740.36,"body":"you know, uptick in unit velocity"},{"startTime":1736.12,"endTime":1740.36,"body":"and that we believe we will. Uh,"},{"startTime":1740.36,"endTime":1744.44,"body":"and it's gonna be a huge, huge win"},{"startTime":1740.36,"endTime":1744.44,"body":"for us. And so that's kind of where,"},{"startTime":1744.46,"endTime":1746.24,"body":"you know, where our head's at."},{"startTime":1746.24,"endTime":1749.68,"body":"And now it's gonna be a question of this"},{"startTime":1746.24,"endTime":1749.68,"body":"negotiation, which \u003claugh\u003e, you know,"},{"startTime":1749.68,"endTime":1753.48,"body":"here I'm, you know, I don't expect"},{"startTime":1749.68,"endTime":1753.48,"body":"Amazon. Maybe they're listening, but, uh,"},{"startTime":1753.48,"endTime":1757.48,"body":"it doesn't matter. It's like,"},{"startTime":1753.48,"endTime":1757.48,"body":"it's, uh, it's a long negotiation."},{"startTime":1757.48,"endTime":1760.68,"body":"Yeah, no, that's what it,"},{"startTime":1757.48,"endTime":1760.68,"body":"and we see that every, what,"},{"startTime":1760.68,"endTime":1764.96,"body":"what we're seeing is that the brands"},{"startTime":1760.68,"endTime":1764.96,"body":"we talk to and we work with, they,"},{"startTime":1764.96,"endTime":1769.56,"body":"you know, they're selling"},{"startTime":1764.96,"endTime":1769.56,"body":"one P, but they're getting"},{"startTime":1769.56,"endTime":1774.32,"body":"You talked about this annual review,"},{"startTime":1769.56,"endTime":1774.32,"body":"and they, they want more here,"},{"startTime":1774.32,"endTime":1777.6,"body":"lower here, and it's"},{"startTime":1774.32,"endTime":1777.6,"body":"hard because, you know,"},{"startTime":1777.6,"endTime":1780.72,"body":"the margin's gotta come somewhere and"},{"startTime":1777.6,"endTime":1780.72,"body":"then, then there's still the promotion."},{"startTime":1780.72,"endTime":1784.76,"body":"So, so let's, let's take a step back"},{"startTime":1780.72,"endTime":1784.76,"body":"for a second. You started at zero."},{"startTime":1785.41,"endTime":1787.36,"body":"So what was your strategy?"},{"startTime":1787.36,"endTime":1791.4,"body":"How did you go about getting"},{"startTime":1787.36,"endTime":1791.4,"body":"the sales and reviews?"},{"startTime":1791.4,"endTime":1795.0,"body":"Did you spend a lot of money on promotion"},{"startTime":1791.4,"endTime":1795.0,"body":"and advertising or, or not? What,"},{"startTime":1795.0,"endTime":1796.4,"body":"you know, what was your thought process?"},{"startTime":1796.71,"endTime":1801.4,"body":"Yeah, I mean, for sure, um, you know,"},{"startTime":1796.71,"endTime":1801.4,"body":"advertising was a key component of it,"},{"startTime":1801.4,"endTime":1803.96,"body":"but before you even get to"},{"startTime":1801.4,"endTime":1803.96,"body":"advertising, like I said,"},{"startTime":1803.96,"endTime":1806.48,"body":"you gotta have a good product. Know that"},{"startTime":1803.96,"endTime":1806.48,"body":"the products that you have are good."},{"startTime":1806.48,"endTime":1810.64,"body":"The listings have to be right. All,"},{"startTime":1806.48,"endTime":1810.64,"body":"all of your presentation, the imagery,"},{"startTime":1810.98,"endTime":1815.48,"body":"all of those components have to be, you"},{"startTime":1810.98,"endTime":1815.48,"body":"know, in line and correct. And then,"},{"startTime":1815.97,"endTime":1819.04,"body":"um, you know, not promotions, like"},{"startTime":1815.97,"endTime":1819.04,"body":"lightning deals and stuff like that."},{"startTime":1819.04,"endTime":1822.04,"body":"We didn't do, you know, in the"},{"startTime":1819.04,"endTime":1822.04,"body":"beginning anything like that."},{"startTime":1822.04,"endTime":1825.4,"body":"It was more about steady a m s, um,"},{"startTime":1825.4,"endTime":1829.56,"body":"not even getting to any of the display"},{"startTime":1825.4,"endTime":1829.56,"body":"advertising in the early days at all."},{"startTime":1830.17,"endTime":1832.32,"body":"Um, and just, you know,"},{"startTime":1830.17,"endTime":1832.32,"body":"focusing on bread and butter."},{"startTime":1832.46,"endTime":1836.12,"body":"And then with regard to reviews, a"},{"startTime":1832.46,"endTime":1836.12,"body":"very critical component. And, you know,"},{"startTime":1836.4,"endTime":1839.64,"body":"interesting little story too. Um,"},{"startTime":1836.4,"endTime":1839.64,"body":"it's not the first time I've seen it,"},{"startTime":1839.64,"endTime":1842.4,"body":"but like in the very early"},{"startTime":1839.64,"endTime":1842.4,"body":"days, of course, you know,"},{"startTime":1842.4,"endTime":1844.76,"body":"your goal is you gotta get reviews."},{"startTime":1845.03,"endTime":1848.56,"body":"They have to be positive because"},{"startTime":1845.03,"endTime":1848.56,"body":"you're gonna get a negative review."},{"startTime":1849.05,"endTime":1853.58,"body":"So if you only have 10 reviews"},{"startTime":1849.05,"endTime":1853.58,"body":"and, and then suddenly, you know,"},{"startTime":1853.58,"endTime":1857.9,"body":"two of 'em are negative, you gotta"},{"startTime":1853.58,"endTime":1857.9,"body":"really, you know, bad score. You're gonna,"},{"startTime":1857.9,"endTime":1860.9,"body":"you really need to have a four"},{"startTime":1857.9,"endTime":1860.9,"body":"and a half stars, you know, uh,"},{"startTime":1860.9,"endTime":1864.5,"body":"to succeed in this game in any"},{"startTime":1860.9,"endTime":1864.5,"body":"game. And so you, you know,"},{"startTime":1864.5,"endTime":1868.66,"body":"what you really need is a"},{"startTime":1864.5,"endTime":1868.66,"body":"big, uh, uh, denominator. Uh,"},{"startTime":1868.66,"endTime":1870.94,"body":"so you want to get as"},{"startTime":1868.66,"endTime":1870.94,"body":"many reviews as possible."},{"startTime":1870.94,"endTime":1875.7,"body":"And so there's always this tendency,"},{"startTime":1870.94,"endTime":1875.7,"body":"um, for people to cheat. And, um,"},{"startTime":1876.12,"endTime":1880.94,"body":"and I had, uh, within a week,"},{"startTime":1876.12,"endTime":1880.94,"body":"uh, of starting the business,"},{"startTime":1882.07,"endTime":1884.46,"body":"um, a, uh, we had a shutdown, you know,"},{"startTime":1884.46,"endTime":1889.34,"body":"Amazon shut us down completely is"},{"startTime":1884.46,"endTime":1889.34,"body":"said for violating the reviews,"},{"startTime":1889.56,"endTime":1892.9,"body":"you know, uh, you know,"},{"startTime":1889.56,"endTime":1892.9,"body":"policy, blah, blah, blah. Well,"},{"startTime":1893.11,"endTime":1897.98,"body":"it must have been that somebody"},{"startTime":1893.11,"endTime":1897.98,"body":"within the network of live own.com,"},{"startTime":1897.98,"endTime":1900.82,"body":"some, you know, idiot, um, who, you know,"},{"startTime":1900.82,"endTime":1904.06,"body":"decided to like leave a"},{"startTime":1900.82,"endTime":1904.06,"body":"positive review for ourself."},{"startTime":1904.35,"endTime":1906.42,"body":"Oh, so one of your own"},{"startTime":1904.35,"endTime":1906.42,"body":"guys maybe did, yeah."},{"startTime":1906.42,"endTime":1908.38,"body":"One of our own guys in the"},{"startTime":1906.42,"endTime":1908.38,"body":"network. And it's like, and they."},{"startTime":1908.38,"endTime":1910.82,"body":"Shut and they, they, they, they"},{"startTime":1908.38,"endTime":1910.82,"body":"tracked it back to the IP or something."},{"startTime":1910.82,"endTime":1913.18,"body":"Instantly, right? And they shut"},{"startTime":1910.82,"endTime":1913.18,"body":"the thing down. And I'm like, oh,"},{"startTime":1913.18,"endTime":1916.5,"body":"and I've actually seen this before,"},{"startTime":1913.18,"endTime":1916.5,"body":"so this isn't the first time I've,"},{"startTime":1916.5,"endTime":1920.1,"body":"I've seen it. And of course, you know,"},{"startTime":1916.5,"endTime":1920.1,"body":"you can get it turned around, and we did."},{"startTime":1920.24,"endTime":1924.86,"body":"But I had to emphasize to the whole"},{"startTime":1920.24,"endTime":1924.86,"body":"company, you know, don't be idiots that,"},{"startTime":1924.86,"endTime":1927.7,"body":"you know, so you can't, you"},{"startTime":1924.86,"endTime":1927.7,"body":"can't cheat, you can't, you know,"},{"startTime":1927.7,"endTime":1931.98,"body":"they take this stuff seriously,"},{"startTime":1927.7,"endTime":1931.98,"body":"they're gonna shut you down completely."},{"startTime":1931.98,"endTime":1933.94,"body":"And he's like, what's"},{"startTime":1931.98,"endTime":1933.94,"body":"the point? But, you know,"},{"startTime":1933.99,"endTime":1938.34,"body":"so I guess if you're gonna cheat,"},{"startTime":1933.99,"endTime":1938.34,"body":"great experience, you better have, uh,"},{"startTime":1938.34,"endTime":1941.5,"body":"a friend of a friend of a friend and"},{"startTime":1938.34,"endTime":1941.5,"body":"stay as far away from your network as"},{"startTime":1941.74,"endTime":1942.43,"body":"possible. But don't."},{"startTime":1942.43,"endTime":1946.1,"body":"We, we, we've seen some of the biggest"},{"startTime":1942.43,"endTime":1946.1,"body":"players on Amazon get kicked off of that."},{"startTime":1946.1,"endTime":1947.38,"body":"I mean, I'm still, you know, there,"},{"startTime":1947.38,"endTime":1949.86,"body":"there's still great scammers out"},{"startTime":1947.38,"endTime":1949.86,"body":"there that not how to play the game,"},{"startTime":1949.86,"endTime":1953.18,"body":"but it's not worth it at all. I mean,"},{"startTime":1949.86,"endTime":1953.18,"body":"they shut down billion dollar businesses."},{"startTime":1953.36,"endTime":1957.06,"body":"See, I was always worried about"},{"startTime":1953.36,"endTime":1957.06,"body":"that. And, and, um, I have a,"},{"startTime":1957.06,"endTime":1961.16,"body":"one of my best friends, uh, had"},{"startTime":1957.06,"endTime":1961.16,"body":"been at Amazon for 20 years,"},{"startTime":1961.16,"endTime":1964.8,"body":"and he was a top guy, like a vice"},{"startTime":1961.16,"endTime":1964.8,"body":"president, you know, top, top guy."},{"startTime":1964.8,"endTime":1966.0,"body":"And whenever I go into Seattle,"},{"startTime":1966.42,"endTime":1969.16,"body":"I'd see him and I'd complain"},{"startTime":1966.42,"endTime":1969.16,"body":"you how things going."},{"startTime":1969.16,"endTime":1973.52,"body":"I'd complain about this or that all for,"},{"startTime":1969.16,"endTime":1973.52,"body":"you know, Amazon, you know, they, they,"},{"startTime":1973.52,"endTime":1976.8,"body":"I, I got a, I got three trucks. I"},{"startTime":1973.52,"endTime":1976.8,"body":"can't get out. I can't get, you know,"},{"startTime":1976.8,"endTime":1979.44,"body":"he is just sitting there in"},{"startTime":1976.8,"endTime":1979.44,"body":"the, in the yard three weeks."},{"startTime":1979.44,"endTime":1983.48,"body":"They won't release the po. I don't know"},{"startTime":1979.44,"endTime":1983.48,"body":"what to do. He goes, why don't you ever,"},{"startTime":1984.14,"endTime":1987.28,"body":"why don't you ever call me? I could"},{"startTime":1984.14,"endTime":1987.28,"body":"help, I could help out. And I'm like, uh,"},{"startTime":1987.28,"endTime":1990.84,"body":"Uhuh. No, no, no, no. It's like, I'm"},{"startTime":1987.28,"endTime":1990.84,"body":"not, I'm not gonna call you for that."},{"startTime":1990.84,"endTime":1994.32,"body":"I mean, that may cost us a"},{"startTime":1990.84,"endTime":1994.32,"body":"lot of money, right? But it's,"},{"startTime":1994.47,"endTime":1999.12,"body":"it's for the moment when I've got a real"},{"startTime":1994.47,"endTime":1999.12,"body":"business and then they shut me down."},{"startTime":1999.23,"endTime":2002.8,"body":"Mm-hmm. \u003caffirmative\u003e, that's, you"},{"startTime":1999.23,"endTime":2002.8,"body":"know, in case of emergency break glass,"},{"startTime":2002.8,"endTime":2005.0,"body":"you know, that's when I'm gonna come"},{"startTime":2002.8,"endTime":2005.0,"body":"to you. I'm not gonna come to you."},{"startTime":2005.0,"endTime":2006.52,"body":"For anything. Yeah, no. So, I mean,"},{"startTime":2006.52,"endTime":2010.44,"body":"it's interesting that he has that"},{"startTime":2006.52,"endTime":2010.44,"body":"much power because it seems at Amazon,"},{"startTime":2010.44,"endTime":2014.96,"body":"they're so compartmentalized. Uh,"},{"startTime":2010.44,"endTime":2014.96,"body":"nobody can get into anybody else's silo,"},{"startTime":2015.38,"endTime":2018.2,"body":"but, uh, so keep that friend"},{"startTime":2015.38,"endTime":2018.2,"body":"that's a good friend to have. Well."},{"startTime":2018.2,"endTime":2022.76,"body":"He's gone now, so it's like, you know,"},{"startTime":2018.2,"endTime":2022.76,"body":"oh, no. You know, but, uh, but he's the,"},{"startTime":2022.76,"endTime":2025.68,"body":"he, he is the CMO of Chewy, so"},{"startTime":2022.76,"endTime":2025.68,"body":"if you have a problem with them,"},{"startTime":2025.91,"endTime":2027.72,"body":"I can point the other right direction so."},{"startTime":2027.72,"endTime":2031.0,"body":"That you're not selling Owen"},{"startTime":2027.72,"endTime":2031.0,"body":"on Chewy. Right. That would be."},{"startTime":2031.24,"endTime":2032.64,"body":"Interesting. No, good idea though."},{"startTime":2033.55,"endTime":2038.4,"body":"It's great for the, the dogs. I'm sure"},{"startTime":2033.55,"endTime":2038.4,"body":"they'd love it. So \u003claugh\u003e. So, so now,"},{"startTime":2038.85,"endTime":2042.8,"body":"so now, um, go, go. Let's,"},{"startTime":2038.85,"endTime":2042.8,"body":"let's stay with the advertising."},{"startTime":2042.8,"endTime":2047.36,"body":"So you were just buying basically"},{"startTime":2042.8,"endTime":2047.36,"body":"keywords, you know, um, and investing."},{"startTime":2047.36,"endTime":2049.16,"body":"But like what percent of"},{"startTime":2047.36,"endTime":2049.16,"body":"sales at the beginning,"},{"startTime":2049.16,"endTime":2052.32,"body":"were you spending a hundred percent"},{"startTime":2049.16,"endTime":2052.32,"body":"of sales to try and boost your, uh,"},{"startTime":2052.56,"endTime":2054.48,"body":"velocity or were, you"},{"startTime":2052.56,"endTime":2054.48,"body":"know, what's your formula?"},{"startTime":2055.37,"endTime":2058.14,"body":"Yeah, no, I mean, it wasn't,"},{"startTime":2055.37,"endTime":2058.14,"body":"it was high at, at first,"},{"startTime":2058.14,"endTime":2062.06,"body":"I don't think it was that high. Um,"},{"startTime":2058.14,"endTime":2062.06,"body":"but in the early days, you know,"},{"startTime":2062.06,"endTime":2065.34,"body":"you're gonna have to, you're gonna have"},{"startTime":2062.06,"endTime":2065.34,"body":"to do that, obviously, to get some,"},{"startTime":2065.39,"endTime":2070.38,"body":"to get some traction. But, you know,"},{"startTime":2065.39,"endTime":2070.38,"body":"those percentages come down quickly when,"},{"startTime":2070.53,"endTime":2074.02,"body":"when you have a product where the,"},{"startTime":2070.53,"endTime":2074.02,"body":"where the people repeat, coming back to,"},{"startTime":2074.02,"endTime":2076.46,"body":"as we say, subscribing, save, but you"},{"startTime":2074.02,"endTime":2076.46,"body":"don't get right off the bat. Mm-hmm."},{"startTime":2076.5,"endTime":2078.1,"body":"\u003caffirmative\u003e takes time. And"},{"startTime":2076.5,"endTime":2078.1,"body":"then eventually, you know,"},{"startTime":2078.1,"endTime":2081.34,"body":"you get that subscribing save,"},{"startTime":2078.1,"endTime":2081.34,"body":"you just get a lot more, you know,"},{"startTime":2081.34,"endTime":2083.46,"body":"all those sales hit you first thing"},{"startTime":2081.34,"endTime":2083.46,"body":"in the morning, one in the morning,"},{"startTime":2083.76,"endTime":2086.94,"body":"you know, you already got half your"},{"startTime":2083.76,"endTime":2086.94,"body":"business done, you know, for the rest."},{"startTime":2086.94,"endTime":2087.08,"body":"Of."},{"startTime":2087.08,"endTime":2089.82,"body":"The day. You don't need, you"},{"startTime":2087.08,"endTime":2089.82,"body":"don't, so the advertising,"},{"startTime":2090.0,"endTime":2092.98,"body":"and then with the repeat rate,"},{"startTime":2090.0,"endTime":2092.98,"body":"even without subscribing, you know,"},{"startTime":2092.98,"endTime":2096.18,"body":"because it's just a heavy"},{"startTime":2092.98,"endTime":2096.18,"body":"repeat kind of a business. Um,"},{"startTime":2096.18,"endTime":2099.82,"body":"it's a consumable business."},{"startTime":2096.18,"endTime":2099.82,"body":"It's a lifestyle. It really, um,"},{"startTime":2099.82,"endTime":2103.5,"body":"it sort of feeds itself."},{"startTime":2099.82,"endTime":2103.5,"body":"And so naturally the, um,"},{"startTime":2103.5,"endTime":2107.26,"body":"the advertising spend is gonna, is gonna"},{"startTime":2103.5,"endTime":2107.26,"body":"come down. And, uh, and then of course,"},{"startTime":2107.68,"endTime":2109.82,"body":"you know, it's sort of, it keeps on,"},{"startTime":2109.82,"endTime":2112.66,"body":"there's just goodness that"},{"startTime":2109.82,"endTime":2112.66,"body":"comes from there because your,"},{"startTime":2112.69,"endTime":2116.9,"body":"your ranking then goes up and, you know,"},{"startTime":2112.69,"endTime":2116.9,"body":"all the tricks of the trade with, uh,"},{"startTime":2116.9,"endTime":2121.7,"body":"the search business. But, you know,"},{"startTime":2116.9,"endTime":2121.7,"body":"it's, um, it, it definitely is doable."},{"startTime":2121.7,"endTime":2122.533,"body":"Definitely."},{"startTime":2122.68,"endTime":2125.38,"body":"And, and were you doing the"},{"startTime":2122.68,"endTime":2125.38,"body":"advertising and the content,"},{"startTime":2125.39,"endTime":2128.42,"body":"or were you farming it out to"},{"startTime":2125.39,"endTime":2128.42,"body":"agencies or something like that?"},{"startTime":2128.69,"endTime":2130.66,"body":"I did both. And we have done both."},{"startTime":2130.66,"endTime":2133.98,"body":"And we've gone back and forth"},{"startTime":2130.66,"endTime":2133.98,"body":"depending on \u003claugh\u003e, you know,"},{"startTime":2134.18,"endTime":2138.36,"body":"resource availability or you know,"},{"startTime":2134.18,"endTime":2138.36,"body":"whether we like the person in-house,"},{"startTime":2138.36,"endTime":2140.72,"body":"you know, we didn't like the person"},{"startTime":2138.36,"endTime":2140.72,"body":"in house that was doing it. Oh,"},{"startTime":2140.72,"endTime":2142.84,"body":"these guys can do it. They're"},{"startTime":2140.72,"endTime":2142.84,"body":"better over there. Oh,"},{"startTime":2142.84,"endTime":2146.2,"body":"this guy's a fraud and there's"},{"startTime":2142.84,"endTime":2146.2,"body":"a lot of 'em, \u003claugh\u003e, you know,"},{"startTime":2146.2,"endTime":2147.72,"body":"it's a tough business, right? I mean,"},{"startTime":2147.72,"endTime":2150.48,"body":"I don't wanna begrudge anybody trying"},{"startTime":2147.72,"endTime":2150.48,"body":"to get into the business, but, you know,"},{"startTime":2150.48,"endTime":2154.56,"body":"there are a lot of people out there"},{"startTime":2150.48,"endTime":2154.56,"body":"that, that, you know, are hucksters and,"},{"startTime":2154.62,"endTime":2158.52,"body":"and don't really know what they're doing."},{"startTime":2154.62,"endTime":2158.52,"body":"So generally we try and keep things,"},{"startTime":2159.09,"endTime":2163.28,"body":"uh, in-house, but, but over the"},{"startTime":2159.09,"endTime":2163.28,"body":"last number of years recently,"},{"startTime":2163.64,"endTime":2166.76,"body":"we're starting to explore, you know,"},{"startTime":2167.39,"endTime":2171.96,"body":"really well regarded people in the"},{"startTime":2167.39,"endTime":2171.96,"body":"industry who can do this stuff, you know,"},{"startTime":2171.96,"endTime":2175.56,"body":"very specialized in,"},{"startTime":2171.96,"endTime":2175.56,"body":"uh, in the advertising."},{"startTime":2175.56,"endTime":2178.64,"body":"We've even gone to the machine"},{"startTime":2175.56,"endTime":2178.64,"body":"stuff, you know? Mm-hmm."},{"startTime":2178.64,"endTime":2182.4,"body":"Some of those systems that, that kind"},{"startTime":2178.64,"endTime":2182.4,"body":"of do auto bidding and like that,"},{"startTime":2182.4,"endTime":2185.76,"body":"they're not that much different"},{"startTime":2182.4,"endTime":2185.76,"body":"than people. So, you know, \u003claugh\u003e,"},{"startTime":2186.17,"endTime":2189.28,"body":"if you got the right, you know,"},{"startTime":2186.17,"endTime":2189.28,"body":"the right algorithm put in."},{"startTime":2189.28,"endTime":2191.44,"body":"There. Ha have you, have"},{"startTime":2189.28,"endTime":2191.44,"body":"you been adding new ASINs?"},{"startTime":2192.89,"endTime":2196.84,"body":"Um, you know, not in, in this business,"},{"startTime":2192.89,"endTime":2196.84,"body":"not too much. Um, you know, some,"},{"startTime":2197.04,"endTime":2201.4,"body":"some new flavors and stuff like that,"},{"startTime":2197.04,"endTime":2201.4,"body":"just as we grow. So, um, you know,"},{"startTime":2201.4,"endTime":2206.08,"body":"we've got like maybe 2025 ASINs. What"},{"startTime":2201.4,"endTime":2206.08,"body":"I do is sort of create multiples,"},{"startTime":2206.08,"endTime":2208.6,"body":"you know, new variety"},{"startTime":2206.08,"endTime":2208.6,"body":"packs, new bulk packs,"},{"startTime":2208.83,"endTime":2213.28,"body":"take a 12 turn in 24 or 36, those"},{"startTime":2208.83,"endTime":2213.28,"body":"little discount on the upsell,"},{"startTime":2213.62,"endTime":2217.88,"body":"you know, ways for people to, you know,"},{"startTime":2213.62,"endTime":2217.88,"body":"get a little discount for spending more,"},{"startTime":2217.98,"endTime":2222.76,"body":"you know, in this business, if you"},{"startTime":2217.98,"endTime":2222.76,"body":"can get a higher average price, then,"},{"startTime":2222.76,"endTime":2225.16,"body":"you know, with the freight"},{"startTime":2222.76,"endTime":2225.16,"body":"cost being as high as it is,"},{"startTime":2225.16,"endTime":2229.24,"body":"you potentially can get a"},{"startTime":2225.16,"endTime":2229.24,"body":"better return. So, you know, uh,"},{"startTime":2229.8,"endTime":2233.52,"body":"interestingly in in the"},{"startTime":2229.8,"endTime":2233.52,"body":"website business with M mcf,"},{"startTime":2233.52,"endTime":2238.24,"body":"you get a much better deal on that,"},{"startTime":2233.52,"endTime":2238.24,"body":"uh, than you do with, uh, Amazon."},{"startTime":2238.24,"endTime":2241.44,"body":"So with Amazon, if you"},{"startTime":2238.24,"endTime":2241.44,"body":"sell, say, a 36 pack,"},{"startTime":2241.44,"endTime":2243.72,"body":"which for us is just"},{"startTime":2241.44,"endTime":2243.72,"body":"three 12 packs, you know,"},{"startTime":2243.72,"endTime":2245.92,"body":"our product comes out of the"},{"startTime":2243.72,"endTime":2245.92,"body":"manufacturer's a 12 pack."},{"startTime":2245.98,"endTime":2249.04,"body":"You don't want to touch it"},{"startTime":2245.98,"endTime":2249.04,"body":"after that. But, you know,"},{"startTime":2249.04,"endTime":2252.28,"body":"on my website I can sell a 36 pack, but"},{"startTime":2249.04,"endTime":2252.28,"body":"it's really, I'm just telling Amazon,"},{"startTime":2252.48,"endTime":2253.84,"body":"M mcf send three."},{"startTime":2253.96,"endTime":2255.24,"body":"Three to this place, right?"},{"startTime":2255.46,"endTime":2257.44,"body":"But Amazon's pricing, MCF pricing,"},{"startTime":2257.44,"endTime":2261.6,"body":"if you know it has a discount when you"},{"startTime":2257.44,"endTime":2261.6,"body":"have the second, the third, the fourth,"},{"startTime":2261.6,"endTime":2264.24,"body":"the fifth unit. And so, you know,"},{"startTime":2264.24,"endTime":2268.64,"body":"the cost of a 12 pack from M MCF"},{"startTime":2264.24,"endTime":2268.64,"body":"ends up being inverted much lower on."},{"startTime":2268.64,"endTime":2269.88,"body":"I didn't realize that. That's awesome."},{"startTime":2270.18,"endTime":2273.36,"body":"Mcf than it would be on,"},{"startTime":2270.18,"endTime":2273.36,"body":"on Amazon. Cuz Amazon fba,"},{"startTime":2273.61,"endTime":2276.84,"body":"they're gonna just charge you the same"},{"startTime":2273.61,"endTime":2276.84,"body":"f b a fee for the, for each of the,"},{"startTime":2276.85,"endTime":2281.04,"body":"of those units if you did that."},{"startTime":2276.85,"endTime":2281.04,"body":"So, uh, just, you know, for."},{"startTime":2281.04,"endTime":2283.88,"body":"What's, yeah, no, that's, I didn't"},{"startTime":2281.04,"endTime":2283.88,"body":"realize, I mean, what a big a, a,"},{"startTime":2283.88,"endTime":2288.84,"body":"a big help for, um, you know, the, the"},{"startTime":2283.88,"endTime":2288.84,"body":"direct business. I mean, just huge."},{"startTime":2289.07,"endTime":2294.0,"body":"What, um, so you mentioned the"},{"startTime":2289.07,"endTime":2294.0,"body":"de-listing or the, you know, and,"},{"startTime":2294.0,"endTime":2295.92,"body":"and buy box suppression,"},{"startTime":2294.0,"endTime":2295.92,"body":"but what, what's been like,"},{"startTime":2296.23,"endTime":2297.64,"body":"what's been some of the biggest,"},{"startTime":2297.64,"endTime":2300.32,"body":"I'm not gonna say obstacles"},{"startTime":2297.64,"endTime":2300.32,"body":"cause that would be negative,"},{"startTime":2300.32,"endTime":2303.64,"body":"but I'm gonna say"},{"startTime":2300.32,"endTime":2303.64,"body":"challenges with Amazon, um,"},{"startTime":2304.05,"endTime":2306.16,"body":"at the Owen um, company."},{"startTime":2309.59,"endTime":2314.06,"body":"Um, yeah, I mean, I think, I think"},{"startTime":2309.59,"endTime":2314.06,"body":"the biggest challenges I, I was,"},{"startTime":2314.06,"endTime":2318.96,"body":"I was alluding to just being as the"},{"startTime":2314.06,"endTime":2318.96,"body":"size we are, the volume and, uh,"},{"startTime":2319.02,"endTime":2323.04,"body":"and, and the complexity of"},{"startTime":2319.02,"endTime":2323.04,"body":"getting that much product, um,"},{"startTime":2323.39,"endTime":2324.56,"body":"into Amazon,"},{"startTime":2325.11,"endTime":2329.88,"body":"like ef efficiently to"},{"startTime":2325.11,"endTime":2329.88,"body":"reduce the days on hand, um,"},{"startTime":2329.88,"endTime":2331.76,"body":"is a critical factor"},{"startTime":2329.88,"endTime":2331.76,"body":"because it's killing us."},{"startTime":2331.76,"endTime":2335.0,"body":"It's choking us in terms of"},{"startTime":2331.76,"endTime":2335.0,"body":"our working capital. I mean,"},{"startTime":2335.0,"endTime":2336.44,"body":"it's absolutely killing us. And any,"},{"startTime":2336.44,"endTime":2341.08,"body":"I would imagine anybody of any size"},{"startTime":2336.44,"endTime":2341.08,"body":"trying to go through this process"},{"startTime":2341.85,"endTime":2344.56,"body":"is, is doing the same thing."},{"startTime":2341.85,"endTime":2344.56,"body":"Like in an ideal world,"},{"startTime":2344.56,"endTime":2348.36,"body":"I wanna see my product coming outta"},{"startTime":2344.56,"endTime":2348.36,"body":"the manufacturer. You know, we produce,"},{"startTime":2348.36,"endTime":2350.64,"body":"it gets on a truck, you know, it's,"},{"startTime":2350.64,"endTime":2354.76,"body":"to me it's hot potato that'll get it into"},{"startTime":2350.64,"endTime":2354.76,"body":"a place where it can be converted to."},{"startTime":2354.76,"endTime":2355.88,"body":"Default, right? Right."},{"startTime":2355.88,"endTime":2359.2,"body":"Quickly as as possible. But"},{"startTime":2355.88,"endTime":2359.2,"body":"the Amazon, you know, the,"},{"startTime":2359.2,"endTime":2362.8,"body":"so the beauty and the benefit"},{"startTime":2359.2,"endTime":2362.8,"body":"of the Amazon network, uh,"},{"startTime":2362.9,"endTime":2366.24,"body":"you get all of the cost"},{"startTime":2362.9,"endTime":2366.24,"body":"benefits, uh, there,"},{"startTime":2366.54,"endTime":2370.6,"body":"but you lose it on the prep and trying"},{"startTime":2366.54,"endTime":2370.6,"body":"to get the product there and then just"},{"startTime":2370.66,"endTime":2373.44,"body":"the cost that it takes."},{"startTime":2370.66,"endTime":2373.44,"body":"And also, you know, um,"},{"startTime":2373.53,"endTime":2378.52,"body":"so there's a lot of complexity in,"},{"startTime":2373.53,"endTime":2378.52,"body":"in managing freight routes and, um,"},{"startTime":2378.52,"endTime":2379.44,"body":"three pls,"},{"startTime":2379.78,"endTime":2384.32,"body":"the scale of it and how do I"},{"startTime":2379.78,"endTime":2384.32,"body":"scale up this thing and, and,"},{"startTime":2384.32,"endTime":2388.12,"body":"and deal with these guys having"},{"startTime":2384.32,"endTime":2388.12,"body":"problems with their labor, right?"},{"startTime":2388.21,"endTime":2391.84,"body":"To put a sticker, actually two"},{"startTime":2388.21,"endTime":2391.84,"body":"stickers, and in some cases three,"},{"startTime":2391.84,"endTime":2395.64,"body":"cuz you got a U P C, you got a"},{"startTime":2391.84,"endTime":2395.64,"body":"sticker over it with an FN skew,"},{"startTime":2395.64,"endTime":2398.64,"body":"and then you gotta have a carton"},{"startTime":2395.64,"endTime":2398.64,"body":"label, and then, you know,"},{"startTime":2398.64,"endTime":2402.52,"body":"it's a nightmare when you think"},{"startTime":2398.64,"endTime":2402.52,"body":"about it. And more often than not,"},{"startTime":2402.83,"endTime":2407.6,"body":"I got three pls, um,"},{"startTime":2402.83,"endTime":2407.6,"body":"you know, mislabeling,"},{"startTime":2407.6,"endTime":2411.8,"body":"you're paying these cards. Oh, I know."},{"startTime":2407.6,"endTime":2411.8,"body":"And, you know, so quality control and,"},{"startTime":2412.02,"endTime":2416.4,"body":"you know, so it's, it's exacerbated."},{"startTime":2412.02,"endTime":2416.4,"body":"It's, it's, uh, it's um,"},{"startTime":2416.97,"endTime":2418.32,"body":"uh, you know, it's,"},{"startTime":2418.32,"endTime":2421.0,"body":"it keeps you up at night trying"},{"startTime":2418.32,"endTime":2421.0,"body":"to manage that level of scale."},{"startTime":2421.0,"endTime":2425.92,"body":"And you do wonder is, yeah, like, is, is,"},{"startTime":2426.05,"endTime":2429.76,"body":"is it even at some point, like"},{"startTime":2426.05,"endTime":2429.76,"body":"it's, it's not scalable at all."},{"startTime":2429.76,"endTime":2432.76,"body":"Like Amazon's seller central three,"},{"startTime":2433.0,"endTime":2437.8,"body":"three P concept, F b A,"},{"startTime":2433.0,"endTime":2437.8,"body":"I'm not so sure it works,"},{"startTime":2438.14,"endTime":2439.04,"body":"you know, actually."},{"startTime":2439.04,"endTime":2439.873,"body":"Over a certain size."},{"startTime":2440.76,"endTime":2444.52,"body":"Possible. Now we did it at, at Mac Mall,"},{"startTime":2440.76,"endTime":2444.52,"body":"you know, we did it. I, you know, we,"},{"startTime":2444.52,"endTime":2446.0,"body":"I started an Amazon business there."},{"startTime":2446.21,"endTime":2450.96,"body":"We were doing 50 million in Apple"},{"startTime":2446.21,"endTime":2450.96,"body":"computers. So it's doable, but maybe,"},{"startTime":2450.96,"endTime":2453.64,"body":"you know, uh, much."},{"startTime":2453.64,"endTime":2456.2,"body":"Higher asp though, you know, lot less."},{"startTime":2456.94,"endTime":2459.44,"body":"And we were selling it and we"},{"startTime":2456.94,"endTime":2459.44,"body":"were shipping it ourselves."},{"startTime":2459.44,"endTime":2461.2,"body":"Right? Because we didn't do fba, we."},{"startTime":2461.2,"endTime":2464.36,"body":"Were using FDA and you weren't"},{"startTime":2461.2,"endTime":2464.36,"body":"relying on, on, you know, we were,"},{"startTime":2464.41,"endTime":2468.08,"body":"we were selling it because it was Apple"},{"startTime":2464.41,"endTime":2468.08,"body":"and we could sell it for cheaper than"},{"startTime":2468.08,"endTime":2470.36,"body":"Amazon. We were authorized,"},{"startTime":2468.08,"endTime":2470.36,"body":"you know, and that was it."},{"startTime":2470.36,"endTime":2473.16,"body":"That was the only reason we, we did"},{"startTime":2470.36,"endTime":2473.16,"body":"Well, so you didn't need Prime. In fact,"},{"startTime":2473.16,"endTime":2474.88,"body":"I don't recall, you know? No."},{"startTime":2475.85,"endTime":2479.32,"body":"We, we shipped it all BM"},{"startTime":2475.85,"endTime":2479.32,"body":"and it was straight ups."},{"startTime":2479.37,"endTime":2482.96,"body":"Exactly. So it's, you know, so"},{"startTime":2479.37,"endTime":2482.96,"body":"I think that's the, you know,"},{"startTime":2482.96,"endTime":2486.92,"body":"I used to have another one of our other"},{"startTime":2482.96,"endTime":2486.92,"body":"businesses when I started with Owen,"},{"startTime":2486.92,"endTime":2490.04,"body":"we had a sister company,"},{"startTime":2486.92,"endTime":2490.04,"body":"uh, from the ground up,"},{"startTime":2490.04,"endTime":2493.92,"body":"which is the cauliflower snacks. Uh,"},{"startTime":2490.04,"endTime":2493.92,"body":"we sold that business, business, uh,"},{"startTime":2493.92,"endTime":2497.48,"body":"you know, last year. It's just doing"},{"startTime":2493.92,"endTime":2497.48,"body":"tremendously well, they just bought, um,"},{"startTime":2497.48,"endTime":2501.88,"body":"pop chips, uh, and so"},{"startTime":2497.48,"endTime":2501.88,"body":"they're creating like a chip,"},{"startTime":2502.37,"endTime":2505.2,"body":"uh, conglomerate or whatever,"},{"startTime":2502.37,"endTime":2505.2,"body":"and I helped them, you know,"},{"startTime":2505.2,"endTime":2507.48,"body":"set up their e-commerce business."},{"startTime":2505.2,"endTime":2507.48,"body":"But, you know, it just doesn't,"},{"startTime":2507.69,"endTime":2509.88,"body":"it doesn't work the same"},{"startTime":2507.69,"endTime":2509.88,"body":"way when you've got,"},{"startTime":2509.95,"endTime":2514.28,"body":"when you've got snacks that"},{"startTime":2509.95,"endTime":2514.28,"body":"you're selling in six bags of, uh,"},{"startTime":2514.69,"endTime":2517.68,"body":"of a box, and it's, you"},{"startTime":2514.69,"endTime":2517.68,"body":"know, half the price of a,"},{"startTime":2517.68,"endTime":2520.92,"body":"of what we're selling with Owen,"},{"startTime":2517.68,"endTime":2520.92,"body":"and you still got the freight costs,"},{"startTime":2520.92,"endTime":2524.48,"body":"and it's just like the economics and"},{"startTime":2520.92,"endTime":2524.48,"body":"the, you know, it just doesn't work."},{"startTime":2524.73,"endTime":2528.88,"body":"Uh, does, does Amazon limit, you know,"},{"startTime":2524.73,"endTime":2528.88,"body":"we talk about fba, do they limit any,"},{"startTime":2528.88,"endTime":2532.24,"body":"your space? I mean, have they been"},{"startTime":2528.88,"endTime":2532.24,"body":"shrinking it, or, or is that Well."},{"startTime":2532.65,"endTime":2535.64,"body":"Uh, yeah, they limited it in the"},{"startTime":2532.65,"endTime":2535.64,"body":"sense that they, you know, seasonally,"},{"startTime":2535.64,"endTime":2539.68,"body":"of course, they put caps, uh, which are"},{"startTime":2535.64,"endTime":2539.68,"body":"very, very damaging. And there are caps."},{"startTime":2539.68,"endTime":2543.68,"body":"Absolutely. And you are"},{"startTime":2539.68,"endTime":2543.68,"body":"constantly having to, you know,"},{"startTime":2543.71,"endTime":2547.64,"body":"bust those caps open. And, and we do"},{"startTime":2543.71,"endTime":2547.64,"body":"have to manage our business. If it was,"},{"startTime":2547.64,"endTime":2549.64,"body":"if it was, if it was up to us,"},{"startTime":2549.64,"endTime":2553.6,"body":"we'd pay the extra storage and"},{"startTime":2549.64,"endTime":2553.6,"body":"get the product into Amazon. Um,"},{"startTime":2553.81,"endTime":2558.6,"body":"because of these sort of roadblocks"},{"startTime":2553.81,"endTime":2558.6,"body":"and in getting product in,"},{"startTime":2558.6,"endTime":2560.44,"body":"and the, and the risk of"},{"startTime":2558.6,"endTime":2560.44,"body":"stock out and all that."},{"startTime":2560.44,"endTime":2562.68,"body":"Stuff. Ha, have you capped"},{"startTime":2560.44,"endTime":2562.68,"body":"out on any of the big skews?"},{"startTime":2563.34,"endTime":2567.29,"body":"Oh, yeah, yeah. It happens all"},{"startTime":2563.34,"endTime":2567.29,"body":"the time. Yeah. Yeah. I mean,"},{"startTime":2567.29,"endTime":2569.85,"body":"and sometimes it'll happen, you"},{"startTime":2567.29,"endTime":2569.85,"body":"know, some of the time it, it, it,"},{"startTime":2570.06,"endTime":2572.29,"body":"it happened a lot more during"},{"startTime":2570.06,"endTime":2572.29,"body":"Covid than we've seen recently."},{"startTime":2572.29,"endTime":2575.41,"body":"But I'll tell you one thing that"},{"startTime":2572.29,"endTime":2575.41,"body":"what they do, it is, you know,"},{"startTime":2575.41,"endTime":2580.17,"body":"it's challenging, is that like, you"},{"startTime":2575.41,"endTime":2580.17,"body":"could have like 5,000 units of something,"},{"startTime":2580.17,"endTime":2583.81,"body":"10,000 units. And so you think"},{"startTime":2580.17,"endTime":2583.81,"body":"you've got the, and it's there,"},{"startTime":2583.81,"endTime":2587.05,"body":"they've got the product, but"},{"startTime":2583.81,"endTime":2587.05,"body":"then they, then they move it."},{"startTime":2587.62,"endTime":2587.97,"body":"Oh."},{"startTime":2587.97,"endTime":2591.97,"body":"Yeah. To, to, in a, in a, in a status"},{"startTime":2587.97,"endTime":2591.97,"body":"called FC Transfer. So he is like, mm-hmm."},{"startTime":2592.01,"endTime":2595.49,"body":"\u003caffirmative\u003e, I got 10,000 units and"},{"startTime":2592.01,"endTime":2595.49,"body":"I got 10,000 units in FC transfer."},{"startTime":2595.49,"endTime":2598.17,"body":"So it's not like available"},{"startTime":2595.49,"endTime":2598.17,"body":"anywhere. You can't ship it."},{"startTime":2598.29,"endTime":2600.77,"body":"Anywhere, right? But it's there."},{"startTime":2598.29,"endTime":2600.77,"body":"You're paying for it, you own it,"},{"startTime":2600.77,"endTime":2601.65,"body":"but you can't tell me."},{"startTime":2601.8,"endTime":2604.45,"body":"Yeah. I mean, it's like, and"},{"startTime":2601.8,"endTime":2604.45,"body":"then I'm trying, and then I need,"},{"startTime":2604.45,"endTime":2607.73,"body":"and don't you hate that, sell it. It's"},{"startTime":2604.45,"endTime":2607.73,"body":"the, it's, you know, and not only that,"},{"startTime":2607.73,"endTime":2612.01,"body":"I've had 'em, I've had them lose it"},{"startTime":2607.73,"endTime":2612.01,"body":"5,000 units and say, okay, that's it."},{"startTime":2612.01,"endTime":2615.61,"body":"And like, well, wait a minute, you"},{"startTime":2612.01,"endTime":2615.61,"body":"know, what happens? So it's, it's, uh,"},{"startTime":2615.61,"endTime":2617.85,"body":"you're playing with fire when"},{"startTime":2615.61,"endTime":2617.85,"body":"you talk about, you know,"},{"startTime":2617.85,"endTime":2622.85,"body":"in doing business with Amazon, it"},{"startTime":2617.85,"endTime":2622.85,"body":"is something new every day. And, uh,"},{"startTime":2622.85,"endTime":2626.69,"body":"and you just, uh, I think the"},{"startTime":2622.85,"endTime":2626.69,"body":"lesson is that your own creativity,"},{"startTime":2626.72,"endTime":2629.13,"body":"your perseverance, uh,"},{"startTime":2629.13,"endTime":2632.77,"body":"is required here because you're"},{"startTime":2629.13,"endTime":2632.77,"body":"never gonna see the same, well,"},{"startTime":2632.77,"endTime":2635.17,"body":"I'm not gonna say that you"},{"startTime":2632.77,"endTime":2635.17,"body":"will say the same things again,"},{"startTime":2635.79,"endTime":2640.09,"body":"but the variety of challenges"},{"startTime":2635.79,"endTime":2640.09,"body":"that can hit you, you know,"},{"startTime":2640.09,"endTime":2644.25,"body":"have to keep you on your toes"},{"startTime":2640.09,"endTime":2644.25,"body":"at all times. And, you know,"},{"startTime":2644.3,"endTime":2646.33,"body":"my lesson to myself,"},{"startTime":2644.3,"endTime":2646.33,"body":"which I'm learning here,"},{"startTime":2646.33,"endTime":2649.93,"body":"is that I have to be anticipating"},{"startTime":2646.33,"endTime":2649.93,"body":"where my growth, you know,"},{"startTime":2649.93,"endTime":2653.21,"body":"ends me up next year and the year after."},{"startTime":2653.21,"endTime":2656.29,"body":"And it's hard enough to live"},{"startTime":2653.21,"endTime":2656.29,"body":"day to day with these guys,"},{"startTime":2656.29,"endTime":2659.85,"body":"but I gotta think about what life is gonna"},{"startTime":2656.29,"endTime":2659.85,"body":"be like, you know, in a couple years."},{"startTime":2659.85,"endTime":2663.93,"body":"You know? And, and I'm, you know,"},{"startTime":2659.85,"endTime":2663.93,"body":"I'm the same. Like I, I, I love 'em,"},{"startTime":2663.93,"endTime":2666.33,"body":"but you know, you struggle with"},{"startTime":2663.93,"endTime":2666.33,"body":"them, but at the same time,"},{"startTime":2666.6,"endTime":2669.69,"body":"what an incredible platform. I"},{"startTime":2666.6,"endTime":2669.69,"body":"mean, can you imagine that you,"},{"startTime":2669.69,"endTime":2673.44,"body":"you're talking about 30 plus million"},{"startTime":2669.69,"endTime":2673.44,"body":"or whatever you're doing and growing,"},{"startTime":2673.86,"endTime":2677.12,"body":"and that's because of them,"},{"startTime":2673.86,"endTime":2677.12,"body":"you know, because of you."},{"startTime":2677.12,"endTime":2680.4,"body":"But because they have that platform"},{"startTime":2677.12,"endTime":2680.4,"body":"and those visitors and those customers,"},{"startTime":2680.5,"endTime":2683.68,"body":"and make it easy, and they're helping"},{"startTime":2680.5,"endTime":2683.68,"body":"you with you direct to consumer business,"},{"startTime":2684.13,"endTime":2687.04,"body":"so it's like you love 'em and you hate"},{"startTime":2684.13,"endTime":2687.04,"body":"'em, right? It's like, you know, I, I,"},{"startTime":2687.04,"endTime":2691.12,"body":"I don't wanna disparage them because"},{"startTime":2687.04,"endTime":2691.12,"body":"they are the guys we live off of."},{"startTime":2691.12,"endTime":2693.36,"body":"Without them, we don't have the platform."},{"startTime":2694.06,"endTime":2696.24,"body":"But you gotta learn how to play the game,"},{"startTime":2696.24,"endTime":2700.56,"body":"and you have to learn how to navigate"},{"startTime":2696.24,"endTime":2700.56,"body":"this business. It's not easy."},{"startTime":2701.75,"endTime":2705.08,"body":"I, I would never bite the hands"},{"startTime":2701.75,"endTime":2705.08,"body":"of, I mean, I would, but, uh."},{"startTime":2705.32,"endTime":2706.153,"body":"\u003cLaugh\u003e, you know."},{"startTime":2706.26,"endTime":2710.48,"body":"But, uh, but we love 'em because"},{"startTime":2706.26,"endTime":2710.48,"body":"we're making a career out of it."},{"startTime":2710.9,"endTime":2714.2,"body":"And, and a good one too. I"},{"startTime":2710.9,"endTime":2714.2,"body":"mean, this is real business."},{"startTime":2714.9,"endTime":2718.52,"body":"And you know, I guess in the olden"},{"startTime":2714.9,"endTime":2718.52,"body":"days, it was, is a different,"},{"startTime":2718.52,"endTime":2722.0,"body":"different approach. You know, it's,"},{"startTime":2718.52,"endTime":2722.0,"body":"it's selling to Walmart, sell, you know,"},{"startTime":2722.0,"endTime":2725.28,"body":"sending out catalogs. We did all"},{"startTime":2722.0,"endTime":2725.28,"body":"that. But this is, this is the."},{"startTime":2725.28,"endTime":2727.12,"body":"Well, and selling to Walmart and the,"},{"startTime":2727.12,"endTime":2729.48,"body":"and the big box guys has its"},{"startTime":2727.12,"endTime":2729.48,"body":"own challenges too. I mean,"},{"startTime":2729.48,"endTime":2733.72,"body":"they would find you and they"},{"startTime":2729.48,"endTime":2733.72,"body":"would have all kinds of issues,"},{"startTime":2733.72,"endTime":2737.28,"body":"then they'd return it all, you know?"},{"startTime":2733.72,"endTime":2737.28,"body":"That's right. So, you know, different,"},{"startTime":2738.41,"endTime":2742.76,"body":"similar situation that you're in now,"},{"startTime":2738.41,"endTime":2742.76,"body":"just a little bit different. Um, and,"},{"startTime":2742.76,"endTime":2746.84,"body":"and so do you think you could, I"},{"startTime":2742.76,"endTime":2746.84,"body":"mean, that was, you said what year,"},{"startTime":2746.84,"endTime":2748.76,"body":"2017? Like, can you,"},{"startTime":2749.02,"endTime":2753.85,"body":"can you think you could do it"},{"startTime":2749.02,"endTime":2753.85,"body":"again with another brand from"},{"startTime":2753.85,"endTime":2754.683,"body":"zero?"},{"startTime":2754.93,"endTime":2755.28,"body":"Oh."},{"startTime":2755.28,"endTime":2756.6,"body":"Yeah. Is it more difficult?"},{"startTime":2757.59,"endTime":2760.2,"body":"I mean, uh, oh,"},{"startTime":2760.2,"endTime":2763.68,"body":"you mean where we are today"},{"startTime":2760.2,"endTime":2763.68,"body":"than where we were in 2017?"},{"startTime":2763.97,"endTime":2765.88,"body":"No, but can you start a new brand today,"},{"startTime":2765.88,"endTime":2768.76,"body":"like you did Owen in 2017"},{"startTime":2765.88,"endTime":2768.76,"body":"and have it flourish?"},{"startTime":2769.93,"endTime":2773.16,"body":"Oh yeah, for sure."},{"startTime":2769.93,"endTime":2773.16,"body":"Absolutely. And I intend to."},{"startTime":2773.96,"endTime":2778.48,"body":"\u003cLaugh\u003e that's encouraging for"},{"startTime":2773.96,"endTime":2778.48,"body":"everybody. I mean, so that, that, that's,"},{"startTime":2778.48,"endTime":2782.12,"body":"that to me is, um, because you"},{"startTime":2778.48,"endTime":2782.12,"body":"hear, oh, it's too crowded,"},{"startTime":2782.12,"endTime":2783.96,"body":"it's not enough space,"},{"startTime":2782.12,"endTime":2783.96,"body":"it's so competitive."},{"startTime":2784.22,"endTime":2787.76,"body":"But you think you could always"},{"startTime":2784.22,"endTime":2787.76,"body":"carve out an itch and, you know,"},{"startTime":2787.97,"endTime":2790.8,"body":"do something great on"},{"startTime":2787.97,"endTime":2790.8,"body":"Amazon. It's never too late."},{"startTime":2791.93,"endTime":2796.38,"body":"A as we were saying, Amazon is a"},{"startTime":2791.93,"endTime":2796.38,"body":"terrific tool. It's a great network."},{"startTime":2796.65,"endTime":2800.98,"body":"It's got, it's the biggest marketplace"},{"startTime":2796.65,"endTime":2800.98,"body":"in the world. It's the global,"},{"startTime":2801.05,"endTime":2805.94,"body":"a agora. It's where people come to shop"},{"startTime":2801.05,"endTime":2805.94,"body":"to research, um, to do their business."},{"startTime":2806.39,"endTime":2810.78,"body":"So if you're not there, you know, you're"},{"startTime":2806.39,"endTime":2810.78,"body":"not, you're, you're, you're not there."},{"startTime":2810.78,"endTime":2815.14,"body":"But, but it, it doesn't make"},{"startTime":2810.78,"endTime":2815.14,"body":"up for the fact that, you know,"},{"startTime":2815.14,"endTime":2819.62,"body":"people are there to buy,"},{"startTime":2815.14,"endTime":2819.62,"body":"uh, a, a quality product,"},{"startTime":2819.84,"endTime":2823.94,"body":"you know? And, uh, if you don't have"},{"startTime":2819.84,"endTime":2823.94,"body":"it, uh, you don't have the repeat,"},{"startTime":2823.94,"endTime":2825.26,"body":"you don't have the right price,"},{"startTime":2825.56,"endTime":2830.18,"body":"and you don't have the right operational"},{"startTime":2825.56,"endTime":2830.18,"body":"approach to getting the product to"},{"startTime":2830.18,"endTime":2834.46,"body":"Amazon so that they can get it to you,"},{"startTime":2830.18,"endTime":2834.46,"body":"doesn't mean you're gonna succeed."},{"startTime":2834.7,"endTime":2838.06,"body":"Right. So the, the real, uh, value, the,"},{"startTime":2838.06,"endTime":2841.7,"body":"what made this job easy"},{"startTime":2838.06,"endTime":2841.7,"body":"for me was when, you know,"},{"startTime":2841.71,"endTime":2846.18,"body":"at the very beginning we knew that if"},{"startTime":2841.71,"endTime":2846.18,"body":"you give this product to kids and they,"},{"startTime":2846.18,"endTime":2849.67,"body":"Hey, put this on your cereal, do you"},{"startTime":2846.18,"endTime":2849.67,"body":"like it? And they did, did, we're like,"},{"startTime":2849.67,"endTime":2851.23,"body":"all right, well, you know, yeah."},{"startTime":2851.23,"endTime":2851.39,"body":"You."},{"startTime":2851.39,"endTime":2854.43,"body":"Got sound good. Does it taste"},{"startTime":2851.39,"endTime":2854.43,"body":"good? Yeah. If, you know,"},{"startTime":2854.43,"endTime":2857.87,"body":"just because you got a great idea, just"},{"startTime":2854.43,"endTime":2857.87,"body":"because you know, doesn't mean that it,"},{"startTime":2857.87,"endTime":2861.19,"body":"even if it does sell, are people"},{"startTime":2857.87,"endTime":2861.19,"body":"gonna buy it again? You know,"},{"startTime":2861.19,"endTime":2863.03,"body":"what's the price or what's"},{"startTime":2861.19,"endTime":2863.03,"body":"the economics of it?"},{"startTime":2863.03,"endTime":2866.99,"body":"So to really make all of"},{"startTime":2863.03,"endTime":2866.99,"body":"these pieces work in harmony,"},{"startTime":2867.44,"endTime":2872.39,"body":"to be a knockout, it really"},{"startTime":2867.44,"endTime":2872.39,"body":"stems from the original idea,"},{"startTime":2872.39,"endTime":2874.87,"body":"which is, you know, we have,"},{"startTime":2874.87,"endTime":2877.31,"body":"we actually have something which"},{"startTime":2874.87,"endTime":2877.31,"body":"we didn't really talk about much,"},{"startTime":2877.31,"endTime":2879.87,"body":"but is a novel, uh, you know,"},{"startTime":2880.15,"endTime":2884.95,"body":"approach to health and nutrition and"},{"startTime":2880.15,"endTime":2884.95,"body":"in, in, in, in the world, you know,"},{"startTime":2884.95,"endTime":2888.07,"body":"plant-based proteins at"},{"startTime":2884.95,"endTime":2888.07,"body":"free of the top allergens,"},{"startTime":2888.07,"endTime":2892.79,"body":"people who were dairy sensitive, gluten"},{"startTime":2888.07,"endTime":2892.79,"body":"free, free of soy, free of all that."},{"startTime":2892.85,"endTime":2896.83,"body":"Cuz there's, everybody's got something,"},{"startTime":2892.85,"endTime":2896.83,"body":"everybody that you know, is, you know,"},{"startTime":2896.83,"endTime":2901.35,"body":"needs, uh, needs either to have something"},{"startTime":2896.83,"endTime":2901.35,"body":"or to, has have less of something."},{"startTime":2901.41,"endTime":2905.23,"body":"And our product is made with"},{"startTime":2901.41,"endTime":2905.23,"body":"good, what we say are, uh,"},{"startTime":2905.23,"endTime":2909.71,"body":"pronounceable ingredients. It's not made"},{"startTime":2905.23,"endTime":2909.71,"body":"a bunch of junk. Unlike what, you know,"},{"startTime":2909.71,"endTime":2913.27,"body":"what is, are the big boys in the market"},{"startTime":2909.71,"endTime":2913.27,"body":"and that's why we're growing so fast."},{"startTime":2913.97,"endTime":2917.43,"body":"And, uh, and it's, you"},{"startTime":2913.97,"endTime":2917.43,"body":"know, it's really taken the,"},{"startTime":2917.43,"endTime":2922.39,"body":"taken the market by storm. And"},{"startTime":2917.43,"endTime":2922.39,"body":"so those, it's not Amazon that,"},{"startTime":2922.39,"endTime":2923.18,"body":"that did that."},{"startTime":2923.18,"endTime":2926.83,"body":"Yeah, no, that's, I agree."},{"startTime":2923.18,"endTime":2926.83,"body":"Super important. You know,"},{"startTime":2926.83,"endTime":2928.75,"body":"you're using their platform,"},{"startTime":2926.83,"endTime":2928.75,"body":"being have a great product. And,"},{"startTime":2928.75,"endTime":2930.11,"body":"and after we spoke, I mean,"},{"startTime":2930.11,"endTime":2934.31,"body":"I didn't know about the product because"},{"startTime":2930.11,"endTime":2934.31,"body":"I wasn't focused on it and I went to,"},{"startTime":2934.52,"endTime":2939.27,"body":"um, uh, one of the big grocers and I"},{"startTime":2934.52,"endTime":2939.27,"body":"bought one and it was great. You know, uh,"},{"startTime":2939.27,"endTime":2941.83,"body":"I'm not allowed to buy from Amazon"},{"startTime":2939.27,"endTime":2941.83,"body":"anymore. My credit card's been cut off,"},{"startTime":2941.83,"endTime":2944.99,"body":"so my wife doesn't let me do"},{"startTime":2941.83,"endTime":2944.99,"body":"that, but I, so I went to the, um,"},{"startTime":2944.99,"endTime":2949.67,"body":"Publix locally and picked one"},{"startTime":2944.99,"endTime":2949.67,"body":"hundreds. Yeah. So \u003claugh\u003e,"},{"startTime":2949.84,"endTime":2954.63,"body":"so as we get to the end, because, uh,"},{"startTime":2949.84,"endTime":2954.63,"body":"we could talk forever, I could, I mean,"},{"startTime":2954.63,"endTime":2958.23,"body":"I could talk to you forever about"},{"startTime":2954.63,"endTime":2958.23,"body":"this stuff, but what, what, what,"},{"startTime":2958.23,"endTime":2962.99,"body":"what words of wisdom, you talked about"},{"startTime":2958.23,"endTime":2962.99,"body":"yourself, but what would you, um,"},{"startTime":2962.99,"endTime":2967.99,"body":"impart to listeners that are"},{"startTime":2962.99,"endTime":2967.99,"body":"either brands existing or just"},{"startTime":2967.99,"endTime":2971.59,"body":"starting out, you know, if not to"},{"startTime":2967.99,"endTime":2971.59,"body":"put you on the spot, but you know,"},{"startTime":2971.59,"endTime":2973.43,"body":"what's good advice here for the team?"},{"startTime":2977.56,"endTime":2982.33,"body":"Um, well, you had me speechless"},{"startTime":2977.56,"endTime":2982.33,"body":"there. Good advice. Do it."},{"startTime":2982.89,"endTime":2986.85,"body":"\u003cLaugh\u003e. Good, good advice. Don't,"},{"startTime":2982.89,"endTime":2986.85,"body":"yeah, don't, don't get in my own space,"},{"startTime":2986.85,"endTime":2987.69,"body":"but outside of that."},{"startTime":2988.33,"endTime":2991.73,"body":"\u003cLaugh\u003e, right, exactly. Well, if"},{"startTime":2988.33,"endTime":2991.73,"body":"you get in my own space uh, you know,"},{"startTime":2991.73,"endTime":2996.33,"body":"good luck. Uh, but, uh, no, I"},{"startTime":2991.73,"endTime":2996.33,"body":"think, I think the key, you know,"},{"startTime":2996.33,"endTime":3000.73,"body":"my advice is, is be be honest."},{"startTime":2996.33,"endTime":3000.73,"body":"Uh, you know, at all times."},{"startTime":3000.74,"endTime":3005.41,"body":"Be honest with yourself, uh, and with"},{"startTime":3000.74,"endTime":3005.41,"body":"your partners and with, uh, you know,"},{"startTime":3005.41,"endTime":3008.93,"body":"with respect to every aspect of your"},{"startTime":3005.41,"endTime":3008.93,"body":"business. Sometimes that means that,"},{"startTime":3009.11,"endTime":3011.17,"body":"you know, do you have the right stuff?"},{"startTime":3011.17,"endTime":3015.81,"body":"You have to question yourself all the"},{"startTime":3011.17,"endTime":3015.81,"body":"time. Is the product gonna be, uh, or the,"},{"startTime":3015.81,"endTime":3020.73,"body":"my approach gonna gonna work? Um, and,"},{"startTime":3015.81,"endTime":3020.73,"body":"um, so always question that because,"},{"startTime":3021.02,"endTime":3022.53,"body":"um, it'll make you better for it."},{"startTime":3023.27,"endTime":3026.75,"body":"Great. And if somebody wants"},{"startTime":3023.27,"endTime":3026.75,"body":"to learn more about Owen,"},{"startTime":3026.75,"endTime":3029.44,"body":"you had mentioned earlier, but"},{"startTime":3026.75,"endTime":3029.44,"body":"you could say it again. What's,"},{"startTime":3029.44,"endTime":3031.4,"body":"what's the best way to go"},{"startTime":3029.44,"endTime":3031.4,"body":"find out more about Owen?"},{"startTime":3031.59,"endTime":3033.56,"body":"Well, of course, you"},{"startTime":3031.59,"endTime":3033.56,"body":"know, it's an Amazon show,"},{"startTime":3033.61,"endTime":3038.6,"body":"so you can type in O W Y N on"},{"startTime":3033.61,"endTime":3038.6,"body":"Amazon, or you go to live Owen,"},{"startTime":3038.75,"endTime":3042.04,"body":"l i v e o w y n.com."},{"startTime":3042.41,"endTime":3046.68,"body":"Awesome. Well, Rob, I really,"},{"startTime":3042.41,"endTime":3046.68,"body":"really appreciate you. I'm, I'm,"},{"startTime":3046.68,"endTime":3051.08,"body":"I'm super impressed. Um, I want to be"},{"startTime":3046.68,"endTime":3051.08,"body":"you. I, I mean, you have a great business,"},{"startTime":3051.08,"endTime":3055.52,"body":"so, uh, let's keep it going"},{"startTime":3051.08,"endTime":3055.52,"body":"and, um, when you sell,"},{"startTime":3055.52,"endTime":3056.96,"body":"let's talk. That's great."},{"startTime":3056.96,"endTime":3058.92,"body":"Okay. \u003claugh\u003e, sounds great, Adam. Thank."},{"startTime":3058.92,"endTime":3059.753,"body":"You. Thanks again."},{"startTime":3059.82,"endTime":3060.36,"body":"All right."}]}