American Operator

The American Dream Isn't Dead I American Operator - Will Fry & Joseph Cabrera I AO 46

Joseph Cabrera

Will Fry, Founder of American Operator, returns to the podcast to break down why Mainshares became American Operator—and what that shift means for the future of small business in America.

In this episode, we unpack the real problems with traditional private equity and solo ETA, why operators—not spreadsheets—should lead businesses, and how American Operator structures deals that keep companies locally owned and community-driven. Will shares the thinking behind the rebrand, the mission-first model, and why ownership is the clearest path to preserving the American Dream.

This is a conversation about stewardship, long-term thinking, and building a better future for America’s small businesses—one operator at a time.

Real stories. Real ownership. Real lessons from the field.
This is American Operator.
AO In Action: https://www.youtube.com/@AmericanOperator
Instagram: https://www.instagram.com/theamericanoperator
Website: https://www.americanoperator.com

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Tactical insights and behind-the-scenes stories from America’s operators:




00:00:00:00 - 00:00:19:10
Unknown
All right, team, we're here with Will fry, founder, American operator. It's been a while, man. First episode. And then we took a. When was that man? Over a year ago. Damn. Yeah. Time flies. Time flies. So now we're back. Get some big updates.

00:00:19:10 - 00:00:43:21
Unknown
We want to talk about why. How the heck are you doing? Good. I'm. I work it out for me. Yeah, yeah. The, the expression duck feet, underwater hole. Cucumber. Man, that's been the company this whole last couple months. Even so, for sure. But I think it's exciting. Well, I mean, we're going to get into it. I mean, for those that are tuning in that have been tuning in, we're going to go kind of deep into why we've rebranded while we've got American.

00:00:43:21 - 00:01:01:04
Unknown
Operator now is the era ahead. We're putting everything behind and just kind of the, maybe even some of the, the sausage making behind the scenes, but I think might be good to kind of start a little history. Let's just kind of kick off with, you know, we start off as main shares. Yeah. Kind of the idea and the impetus behind that.

00:01:01:04 - 00:01:24:12
Unknown
Yeah. And then like, let's take us all the way up until maybe two months ago. Yeah. We've riffed on this a bunch. But the way we've approached building the company is to be mission driven, which means you work backwards from achieving the mission. So the past four years has just been rapid iteration cycles of what's the right way to do that?

00:01:24:14 - 00:01:43:12
Unknown
And being dog on bone. And in terms of like when you achieve the mission, we need to do it at scale. If we're just making money doing something, that isn't that that's not, you know, worth of brain damage that, you get for free here. And originally we actually started off on the sell side, helping small business owners who wanted to retire.

00:01:43:13 - 00:02:09:12
Unknown
And the idea there was, you know, you have a fragmented industry of business brokers. Some of them are great. Some of them are not so great. You could probably build, a better version of a business brokerage. But more importantly than that, it's like it maximizes your learnings per day. Like, you're not going to learn at that rate unless you're, like, on that side of the table, really understanding the what the business owners are going through, what it means to sell a business, how all of that works.

00:02:09:14 - 00:02:36:10
Unknown
And then through doing that, we realized, that for, a lot of folks, it's really hard to find an individual buyer who can both replace an owner operator who's pulling 40, 50, 60 hours a week in the business, and has the money to actually make a deal happen. And so we launched main shares to solve that with the idea that, hey, there's a bunch of people in the US who have money, they want to put it to work.

00:02:36:10 - 00:03:13:16
Unknown
They love small businesses. And if you can match that money with these individuals who are buying the businesses, you can kind of optimize for the folks who are really great at operating and not have capital, be a barrier to them, succeeding in us keeping the businesses, owned by individuals through doing that. And I think by the end of next week, we will have closed over 100 small business M&A deals, which means 100 small businesses preserves, we grew to appreciate that the current, model for individual buyers just doesn't work.

00:03:13:18 - 00:03:38:09
Unknown
And what I mean by that is that in order to actually buy a business, you need to have a bunch of skills that are really, really hard to get and you're only going to get through, failure. And, there's skills that you're likely going to use at most once. And it's like dealmaking, right? Like this, like dealmaking is a big piece of it.

00:03:38:10 - 00:03:57:05
Unknown
And so like we had spent a lot of time at Maine Chairs building out, I think probably best in class educational resources for these folks. But like a lot of things in life, no matter how much you kind of learn from a book or a webinar or whatever, until you actually get to do the thing, you just don't really understand.

00:03:57:07 - 00:04:13:23
Unknown
And it became clear like, wait, why are we doing this? Like, we're trying to make really good operators teach them how to play M&A and finance and deal making, all that type of stuff, and they're going to do it maybe once. And honestly, they're probably not going to do it well. And it's like not their fault. It's just the reality.

00:04:13:23 - 00:04:29:16
Unknown
Like and how do you give them all? Like it takes a lot of reps. That's been your part. You're talking about so many reps. Yeah. Yeah. Like the most of the reps are going to end in abject failure. Hopefully, hopefully. What does it happen is you do a really shitty deal. It closes and then you go bankrupt really bad.

00:04:29:16 - 00:05:12:19
Unknown
So hopefully it fails before it gets there. And so we were like, wait a second. We spent all this time building up, expertise in how to identify small business owners, how to underwrite them, how to structure deals. We're really good at it. Why don't we just do that, on behalf of these operators. And what that allows us to do is, avoid those issues, close the doors quicker, have higher quality of outcomes for all the parties involved, and then really be able to focus on the folks who are good at operating and leading the company and not be kind of convincing ourselves that we should go unicorn hunting and find

00:05:12:19 - 00:05:32:16
Unknown
the person who can do all the things the pro not. And if I had to pick between, you know, the operator who knows very little about leveraged finance, or the finance pro who thinks he knows a lot about Hvac. I'm going to pick the first one every time. So, and so that's what we're doing. The general idea is like, take the certainty and professionalism and the committed capital nature of an individual buyer.

00:05:32:18 - 00:05:49:21
Unknown
And and then you pair that with a transaction model that leads these businesses into being majority owned by this local operator. Who really knows or should they go to bed, thinking about the business. They wake up thinking about the business. They're embedded in the community. You can kind of get the best of both worlds. So yeah,

00:05:49:21 - 00:06:10:01
Unknown
Hey, y'all. Quick break. Here at American Operator, we believe that small business is the backbone of this country. But more and more Main Street getting swallowed up by big corporations, wall Street or some of them are just shutting down. If you've ever thought about building something of your own, or just being a part of saving the American dream head on over to American operator.com.

00:06:10:03 - 00:06:20:05
Unknown
It's your one stop shop for inspiration stories, and you'll get to join this really great community of patriots that believe our country still worth fighting for. All right. Back to the show.

00:06:20:05 - 00:06:57:17
Unknown
You know, there's a lot of, there's a lot of different, voices out there about M&A. ETA you know, whatever you want to call it, acquisitions. Just getting into the ownership seat. How do you feel like like the function of what we're doing is not novel. Maybe, but the how we go about doing it. Yeah. And maybe just doubling down on the mission side of the house, like there's a just explained to somebody the other day, it actually was painstaking for us for almost two years, almost fighting ourselves on that, like selling out kind of vibe, because it does eat us up that much to do it the right way.

00:06:57:18 - 00:07:25:06
Unknown
Yeah. What insight could you give to folks about, like, how seriously take this mission and value stuff and how we do it is as important of what we do. Yeah, I think there's two things, one is that and we were riffing this other find me another finance company who buys a business, takes the risk of the business, and then leaves the business, majority owned by someone else doesn't exist.

00:07:25:08 - 00:07:47:19
Unknown
And it doesn't exist, for a variety of reasons. But the answer is not because it makes no sense economically. In fact, it does make sense economically. It's just contrary and then requires tens of thousands of hours in the space and, you know, bashing your head against a wall before you can kind of untangle everything because it ultimately gets us better operating talent, lower transaction costs.

00:07:47:21 - 00:08:03:17
Unknown
People are very mission aligned to win. And then on the, the business owner side, it's like, wait a second, I could sell it to this finance firm. I could take a massive flier that this person is going to be able to stumble through getting an SBA loan, getting investor money, getting an attorney to help them do the docs.

00:08:03:19 - 00:08:20:20
Unknown
Or I could work with the American operator, and they're going to bring all the capital in their bank account, all of their expertise, all of their professional underwriting, and they're going to match it with a really great individual who's only going to be focused on how can I take the torch forward, and how can I, make sure this business lives on for, for years to come?

00:08:20:20 - 00:08:49:15
Unknown
So I would say that's like kind of one piece into, in terms of the how is we have a mechanism where we ultimately leave the business majority owned by this, by this operator. And we do that for a variety of reasons, which we can chat about. I say the second, how is that, if you look at our, everything from our website to our budget to how we run our monthly, staff meetings, we start with mission and we end with mission.

00:08:49:17 - 00:09:13:15
Unknown
And we focus a lot on brand and communication and making it very clear the values that we hold and why we're doing what we're doing. And, it's very uncommon for a company that kind of looks like ours, to do that. And we do that for a variety of reasons. One, like, selfishly, we're proud of what we do, and we want to attract people who hold the same values as us.

00:09:13:17 - 00:09:40:09
Unknown
But then from a broad based mission perspective, we're not going to be able to, ever buy, and preserve 100,000 small businesses. It's unlikely that we do 100,000 small businesses. We want to work with the very best. We want to work with thousands and tens of thousands. But if we care about this mission by being loud and by leading with brand and leading with mission, we can encourage other folks that keep their American dream, even if it isn't with us.

00:09:40:09 - 00:10:01:07
Unknown
Maybe it could be partly because of us. So I'd say those are probably the two things that are most different. Yeah, talk about that second part of what you're at. It's more about like if and if folks who engage with us leave doing nothing else, but just like having a little higher sense of duty or calling in to do nothing with us, that's pretty good.

00:10:01:09 - 00:10:21:10
Unknown
That was that was worth the phone call, worth the engagement. That was worth it for sure. And I think a lot of companies can spend a lot of time always trying to ROI every conversation. Yeah, every piece of content that goes out there. I know one of the things we talk about here on the team a lot is like, how do we make sure that every single time we put a piece of content out that like 10%, it's hitting exactly the target?

00:10:21:15 - 00:10:39:22
Unknown
Yeah. And the 90%, we're just like making Americans more hyped about being American. Like that's the deal. Yeah. Which is kind of a crazy, especially with where we're in our company, because you just don't even think about how important it is to just do those other things, right? Yep. What do you think? Like when you're.

00:10:40:00 - 00:11:01:19
Unknown
Going back to the first part of the how, might be helpful for folks, I just that's to kind of describe maybe Susan or Tim out there. Yeah. They bought one way versus buying or like going into ownership one way, which is maybe more standard. And then the other way, which is the, the American operator, I, I don't, you know, how would you kind of like break down a very like real life example, what that looks like.

00:11:01:19 - 00:11:29:03
Unknown
Yeah. So like if you're curious about buying a business or becoming an owner through acquisition, you today you have two options. At a very high level, you can work with a private equity shop. They often call these individuals like operating partners. They'll buy business with you, you'll be the CEO, you'll get a fat salary, and benefits, and you'll have some participation in the upside of the deal.

00:11:29:05 - 00:11:54:13
Unknown
So you'll have, like, a couple points of what folks call carry, which is essentially like how much excess profit over how much you invested. There, you're not really becoming an owner. You shouldn't kid yourself. And most people don't kid themselves. You work for the private equity shop, and you're their CEO. You're a hired CEO. The other option, is kind of the ETA entrepreneurship through acquisition, where you as an individual go try to find a business and buy it.

00:11:54:15 - 00:12:12:01
Unknown
You're responsible for finding the business, which is becoming more and more hard. As you have more and more private equity shops and individuals interested in buying a business, you have to diligence and structure the deal. So a bunch of finance stuff, you then have to go get a loan. You have to get the equity that you need.

00:12:12:03 - 00:12:34:14
Unknown
You need to get all the legal docs drafted, so on and so forth. Now with the latter approach, unlike the first, you are going to own a vast majority of the business that close. You're going to if you don't take on any investor money, you could own 100% of it, but you're going to go through a 6 to 18 month process of trying to find a business.

00:12:34:16 - 00:12:51:18
Unknown
30 or 40% of the folks who find a business and get under contract where it actually close on that business, you probably gonna have a bunch of debt deals. I hope you're getting a good attorney, but if you use, you know, your next door neighbor who's a divorce attorney, which we see, too often, there's no guarantees there.

00:12:51:22 - 00:13:09:23
Unknown
So that's kind of the path is like, hey, you can be, like, super risk off. You're not really achieving, you know, the American dream as we see it, you're not becoming a true owner. You don't really have control over the company to the degree you think you may. Or on the flip side, you can have all control, but you're like way in over your skis.

00:13:10:01 - 00:13:27:18
Unknown
With our model, what happens is we source businesses and brand plays a huge role in that. And getting out what we stand for in our values. So we find owners who are who are mission aligned. We then help structure the deal and we have a good sense about, okay, who, what type of person, what made the group the best owner here.

00:13:27:20 - 00:13:46:07
Unknown
We then, what drove that down to a short list? Use some current owners and advisors. Help us pick the best one. We fully fund the business. They don't have to go get a bank loan. They don't have to go get investor equity. It's all coming from us. And then not close. We own anywhere from 70 to 90%.

00:13:46:09 - 00:14:09:13
Unknown
And they own typically 10%. And then each year we use cash from the business to buy back our ownership and give it to the operator so that by the end of, you know, 7 to 10 years, they have 70% ownership, they have control of the business. They're not working for us. And the idea there is that you can really lean into the folks who are the best to run it, not necessarily the best to buy it.

00:14:09:13 - 00:14:35:07
Unknown
And we see that with the folks who work with, most of the great operators out there are not thinking about buying business. They want to become an owner. Most of them are planning to do it by starting something from scratch. This whole like finance thing is not, not their cup of tea. But I think it's really, really important that some of those individuals do step up and are willing to, take the helm of the businesses because owners are retiring.

00:14:35:07 - 00:15:08:21
Unknown
The last thing we need are these kind of staples of the community all getting rolled up by Wall Street, by our funds, whatnot. The, the part about maybe the question of folks heads like men, 70% like it's not 100. Yeah. What would you tell what would you actually tell folks that we have heard actually from the community of great operators about why that actually does sit well with them, given the fact that we kind of do a lot of the parts we're great at on the front end, and maybe more specifically, why why that is a good deal.

00:15:08:23 - 00:15:28:22
Unknown
Yeah, I would flip it and be a smart ass and be like, find me anyone who gets close to that. But, I think would then what their mental model is, hey, I'm not having to come out of my pocket. Hundreds of thousands of dollars. American offers taking a ton of risk on the deal. And I get deep partnership throughout.

00:15:29:00 - 00:15:50:21
Unknown
If you want full freedom, like, you know, Screaming Eagle freedom. Don't do this because it's not full freedom. Like, we have some standards, that we expect from one another. And we want to know, you know, on a quarterly basis, how the business is performing. You're not, you know, given carte blanche to go do go. Absolutely crazy.

00:15:50:23 - 00:16:08:09
Unknown
But you become majority owner. You have control of the business. That can ultimately stack up to a lot of money. And so that kind of put it in and into terms. Now we worked with a number of operators where they started businesses may making 100, 200,000 dollars in revenue. It's probably worth maybe a couple hundred K.

00:16:08:11 - 00:16:29:23
Unknown
We then place them in the owner seat at a business that we acquire, and just at close to 10% of a multi-million dollar business is more than their business before. And then they have a path to owning 70% to their path of becoming a multi-millionaire. So from an economics perspective, there's more than enough, to make it worth their time.

00:16:30:01 - 00:16:49:17
Unknown
And then we're not going to hold that 30% forever, guaranteed. There'll be instances where it's like, hey, man, we can't grow this business anymore. It's like a four wall business. I don't really have appetite to go buy more businesses with y'all. This just kind of my thing. The only way for me to make more money is to start buying more of you out, and we'll have that conversation.

00:16:49:19 - 00:17:03:17
Unknown
We're not unreasonable humans. Last thing we want to do is be trapped in an unhappy marriage. So, that's kind of how I would. I would describe it and how I've heard operators react to it. Yeah. No, it's that beginning part that I think once you've once you've kind of gotten beat in the face a few times.

00:17:03:17 - 00:17:19:10
Unknown
We talk to these folks and they're like, man, about time. Because, yeah, we just wish somebody would do something like this. It's just not I don't think you can appreciate how much it burns the hand on the stove until you've done it a few times and go like, can someone please save me from the beginning part of this whole thing?

00:17:19:10 - 00:17:40:22
Unknown
Yeah. Incredible. So why do you why did we have to rename the company? Why did we rename rebrand from main shares to American operator? Yeah, I think it's, at its heart, we wanted a name that better represented our mission and what we stand for. An American operator does that by far, in a way better than the mangers.

00:17:41:00 - 00:18:09:11
Unknown
Y'all had already kind of cleared the beachhead and warmed it up through the Vinci Code there across the US. In the stories you've told of really great owners. And so it was clear it's the right move. I think additionally, our aspirations are, high and we're ambitious, and we want a company that Americans root for that owners feel proud of, that celebrates like there's a reason it's not American owner, it's American operator.

00:18:09:13 - 00:18:27:01
Unknown
These operators become majority owners with us. But if we didn't have the operating piece, the whole model would break. And so I think those are the reasons that that we are super proud of the name. And I don't I don't know how many emails I've shown you over the past couple of days, but people are hyped. People love it.

00:18:27:03 - 00:18:42:12
Unknown
Yeah, I do, I absolutely love it. So it worked. It's the right call. Yeah. No, it's a there's something about it too. Just like it's like it's like people going it's like a red, white and blue pill man. I don't know what it is, man. Yeah, I've gotten a couple actually. I was about to go put one in the team.

00:18:42:13 - 00:19:01:11
Unknown
Team. Room here, which was like, it's just I think folks just want to use the word. Yeah. And so they're putting up a poster, they're doing a thing, and they're buying our bats online. Oh, yeah. All kinds of, you know, we actually we're going to release your video. Damn compliance. If you don't know what that is, just stay just stay tuned.

00:19:01:16 - 00:19:28:18
Unknown
There's like there's a yeah there's something and I think just hopefully gets folks an insight to our personality in the company. Yeah it's fun as heck man. It like reminds me of being on like an elite. Like you can think of it like either an elite athletic or military team or whatever, but whatever it is, you got these, like razor sharp people who are smart in their domain of expertise, everything from underwriting to deal structuring to negotiations, marketing, all of it.

00:19:28:21 - 00:19:46:06
Unknown
Yeah. Yet if folks can see how folks dress, here it is. Ball caps. Yeah, it is American gear boots. It is like you want to go take a sledgehammer to a trash can all day long. Just beating the drum for sure. It's awesome. And I'm glad that were able to kind of evoke that emotion with the American people.

00:19:46:06 - 00:19:51:17
Unknown
Yeah. And like, we're proud of everything we've done. But I was reflecting on this last night.

00:19:51:19 - 00:20:13:11
Unknown
People. So I don't know when this will come out. But we did like the A launch yesterday and we got, you know, some bigger names involved in the launch. People were more hyped when, like Greenway closed the other day than they were about like a bunch of, you know, X and LinkedIn, dopamine hits. And like that is the culture that I'm, like, proud of.

00:20:13:11 - 00:20:29:08
Unknown
Like, we need to be proud of, you know, getting getting the word out there. And we're really appreciative of all the allies and supporters who helped boost what we're doing, but also, like, add the essence of it like no one has forgotten, like it's every single business that we put in the hands of the next generation of like, that's what matters.

00:20:29:10 - 00:20:48:21
Unknown
Not, not all the other stuff that kind of comes with it. I think that's also like a good articulation of the yeah, of the culture nowadays. I mean, it's the it's hard, like you never want to call the greenways or the other companies that are out there any small business like calling it. I've always struggled with calling it the the little guys.

00:20:48:23 - 00:21:10:15
Unknown
Yeah. Cuz in my mind in their town they're kind of the big guys. Yeah. Which is a funny way to think about it. It's almost like a very like, Self-righteous way to kind of call these companies not big enough or not good enough when like in that town, they're everything, you know. And if you're not the next space, that's okay.

00:21:10:15 - 00:21:33:07
Unknown
It makes us a great company. It is kind of the American dream on roids. But man, there's a lot to be proud of in these small towns, for sure. I was on the phone with, guy I was sharing with you. He, his family started a small grocery chain a while back in the 50s or 60s. And, I was sharing with him the story from love.

00:21:33:09 - 00:21:52:14
Unknown
Love laundry. Yeah. You just don't get that with with big business. No. Nobody even knows his story. I know, yeah, you should get give the give people a 401. Oh. Long laundry, love. Yeah. About. Yeah. The fire. Yeah, man. They're like, oh, yeah. I was gonna say nobody knows some of these big company stories like that.

00:21:52:14 - 00:22:11:18
Unknown
History is gone. But yeah, with this story happened to you real quick. It's like the part that is the heart and soul of it. And if y'all go check out our our YouTube, you'll see the story there. You know, in small it's like nobody had to ask permission to do the right thing. It was this apartment building right behind this laundromat in Abilene, Texas.

00:22:11:19 - 00:22:32:10
Unknown
It goes up in flames one night. Just probably some house fire, something out over cooked in the kitchen, and then it just, unfortunately, let the whole apartment complex. So it is freezing in Texas at this time. And the thing about being cold in Texas is usually doesn't get that cold, but when it does, it is like a miserable because there's no like we're not ready for that kind of stuff.

00:22:32:12 - 00:22:55:06
Unknown
There's no emergency services or anything like that. So these folks are like watching all their possessions burn down to the ground. And instead of being like somebody else's problem, you know, whatever this guy they call the minister of love at Love Laundry, who is the father of the owner of laundry love guy named Clay, just says, all right, man, open the doors.

00:22:55:06 - 00:23:13:05
Unknown
Let everybody in. Somebody go get a bunch of food. Go get a bunch of water. Get a preacher man in here. Like, just make it happen. Yeah. There's no like, hey, what are y. Let's go get the social media team. That none of that. He was just like, it's the right thing to do because I want someone. I would want someone to take care of my family the same way.

00:23:13:07 - 00:23:38:03
Unknown
And I think the, the, the, the part about it that I hope folks don't miss when they watch it is that these small businesses across America, like that's what they do because they're allowed to do it. I remember one time working in a, a bigger company, and I remember thinking, I have to ask five people probably, and get permission to go do the right thing here, because I want to make sure it's like is said in line with their messaging.

00:23:38:03 - 00:23:54:12
Unknown
Is that in line with our brand ethos? If I'm going to offend somebody, if it makes it at like all those things go through your brain where these owners, it's just not. Yeah. And I think that's you see that over and over again all over, man. Yeah. Even when we were putting together that launch video, we wanted to articulate this.

00:23:54:12 - 00:24:15:21
Unknown
And so we're looking for stories where kind of small businesses stepped in. And it's limitless on the internet. Yeah I don't see I mean, maybe Walmart makes like a donation to some nonprofit, but that's about it. There's not a whole lot of yeah, it's and it's fun, man. A lot of the times too. It's like these these, these things that you don't always get to like.

00:24:15:21 - 00:24:33:15
Unknown
I think these small businesses get to do things too, that are a little bit weird sometimes. Like the things they help and participate in. Yeah. It's not something that you'd think, right. It's, you know, they can even do, like, H.R. stuff that's not, like, normally allowed at a company. They're not trying to do small businesses under the bus because they can do what they want.

00:24:33:17 - 00:24:37:08
Unknown
But,

00:24:37:10 - 00:25:03:06
Unknown
Like the fact that you can get I had a business owner the like the fact that the the the husband wife team, this happens a lot. The reason I'm trying to triangulate because I've heard this several times across different businesses, big about childcare, where one of the employees is grinding. He's been with the company for three years. You know, they're working at some auto shop, manufacturing butcher shop or whatever, and the owner's wife is like, I'll just go pick up a kiddo.

00:25:03:11 - 00:25:17:12
Unknown
Yeah, you just keep working. I'll bring the kid to the office. You can kind of hang. Actually, the mayor and I were chatting yesterday, and because one of the coolest things about small business is having kids run around. Yeah, actually, Matt Gandhi had, you know, for ego or same thing. Yeah. You wouldn't like you wouldn't do that at a big corporation.

00:25:17:12 - 00:25:36:02
Unknown
No. Yet the owner's spouse is like, I'm going to go take my van, go make a pick of all the kids and bring them back. Yeah, I don't think that would fly in an air policy somewhere. But in small business, America, just take care of the people. Tele. Tele is important. So when we think about,

00:25:36:04 - 00:25:38:21
Unknown
Kind of.

00:25:38:22 - 00:25:55:03
Unknown
The idea of why American business is important, I think maybe for folks tuning in and I've had some conversations even recently about like, well, man, it sounds like a great mission. Doesn't matter, though. Like, why does it matter? Like it's a matter of because you all think it matters and like it's the way you, you know, feed your families or does it actually matter?

00:25:55:03 - 00:26:18:17
Unknown
It's like the overall kind of strategy, this thing called America. What would you tell? It definitely matters. It matters for two reasons or how I think of it. One is that, without these businesses, communities would be poor and less, cohesive than they are.

00:26:18:19 - 00:26:46:19
Unknown
With small businesses, I think around $0.20 more on the dollar stays in the community. Versus like a chain or a corporate owned store, or business. And that money stays in the community and pays for jobs. It pays for the Veteran's Day parade. It pays for the little League. It, keeps the wealth there. Additionally, because of that, it has a generation of leaders, of owners who are leaders in the community.

00:26:46:19 - 00:27:14:08
Unknown
And I remember this very vividly back home growing up. It's like, you know, so and so. His dad ran XYZ business there, signs on the back of the baseball field, they're actively involved in, in the town. And whether they, you know, involved in the PTA or, city council or whatever. And so I think, like, you need that, money to stay local and owners to be local.

00:27:14:10 - 00:27:36:04
Unknown
And then lastly, one of the other things that we try to do a lot is kind of social cohesion of Americans are less trustworthy and more divided, and small businesses are kind of that last sacred place where you're like, all right, that person wasn't that bad. Like, that sounds kind of crazy, but they're they're decent. And it gets back to what we were just talking about, which is like, and, you know, they're decent because they do actions that show that they actually care.

00:27:36:06 - 00:27:56:10
Unknown
And it's not, you know, always kind of an ROI or compliance or legal kind of hoops to jump through. So I'll say that like that's kind of piece one. Piece two is that, they are hugely important economically for the country outside of these communities. So like two out of every three jobs the past 20 years are small businesses.

00:27:56:12 - 00:28:18:18
Unknown
I firmly believe that by 2030 will probably be four out of five jobs created because I was coming for corporate America first. And most of the jobs will be created by it, by small businesses. And it's like the most pure form of the American dream. And it's what most immigrants came here to do, is, hey, I'm going to build a better life for myself.

00:28:18:18 - 00:28:35:16
Unknown
I'm going to build a small business, and be able to be an entrepreneur. I'm not going to be, you know, regulated based on my political beliefs or anything like that. And you can go and build a better life for yourself and make money. And we see that a lot. And and I love it. It's great.

00:28:35:16 - 00:29:05:02
Unknown
And so I think, like, if you take that away, everything's big corporate America, people can actually easily create wealth for themselves anymore. And then you get what you see last year on college campuses or the bunch of people running around with absolutely crazy signs, it's like, what the. What are you smoking? This country is great. Like, we have flaws, but, like, let's let's have an idea that we can be optimistic about tomorrow and that if if you're not, it's your fucking fault.

00:29:05:07 - 00:29:30:23
Unknown
Like, the future requires you to be a participant in it. So I think for those reasons, it's good. I would I would love to hear that counterargument to that, I don't know. There is one man. I fought people daily on this idea that like, and I think part of it is coming out of security or insecurity. I get it, especially you get used to like a climb the ladder for the last 20 years and all those other things.

00:29:31:01 - 00:29:44:14
Unknown
But like if you think about how we came together as a country, like we are innate, like our DNA as a country, if you go to other places, whether it's France or you go to South America or whatever, there's like, you can tell that core DNA is in them. It's kind of like what's built, what you see today.

00:29:44:14 - 00:30:03:18
Unknown
Yeah, well, like, it reminds me of my time. Just like working with other foreign allies and stuff. They'd always like, love that. They call it like that John Wayne cowboy. In all of us Americans. What they mean by that is, like, we're slightly unruly. Yeah, kind of bold. Maybe to a fault. Yeah. Yet there's no better friend to have, right?

00:30:03:18 - 00:30:20:15
Unknown
Because they're the like, if. Yeah, if someone steps on you, they're the first one to throw a punch. And there's like this extreme sense of agency that makes our country who we are. Like we're always I had I heard a British guy say one time, the one thing I'm always hopeful about America is that even in their flaws, someone will be loud enough to go fix it.

00:30:20:18 - 00:30:39:09
Unknown
Yeah. And so, like, it's like this self-correcting thing that we have in our country because, like, injustice is like our highest form of disdain, like we just don't. That's not okay. And there's something about small business America that just, like, embodies those ethos, you know, it's like they just somebody asked me one time as a young kid, he was like, man, I just want to go help the world.

00:30:39:09 - 00:30:54:08
Unknown
Like, I want to go save the world. Do you have any ideas on how I can do that? It wasn't like it was like through this long conversation, we had an evening. I was like, I think the best way anybody helps the world just help. If everybody just help the ten people that are closest with, yeah, you inevitably would help the world.

00:30:54:09 - 00:31:18:02
Unknown
Yeah. Whereas like, you're trying to be one person trying to help 8 billion people. Yeah. Not saying it's not doable. You know, but it is a harder thing. But yeah, it's close. It's there's, there's the math is tight, you know, so I think it is one of those things where you just kind of have to look at and go like small businesses that small businesses helping those ten totally.

00:31:18:02 - 00:31:39:07
Unknown
And then just replicate that and they're going to do it. Well. Yeah. Not like mediocre you know for sure. It's just math. And like it's not like we're not taking the position that like big is bad or Wall Street is evil. Like we're capitalists and proud of it. And there are probably certain businesses that make you get such economies of scale by being big that it's just hard to compete.

00:31:39:08 - 00:31:57:20
Unknown
And it makes sense. It's the best that system. But there are a lot of parts of the economy that like rolling them all up in your fancy fund, is not doing anyone any favors. Yeah. The only economies of scale you're getting are in your Excel spreadsheet. And you're like, risking a bunch of jobs and communities and your finance department gets to, like, you know, be a little more efficient.

00:31:57:20 - 00:32:34:06
Unknown
Yeah, exactly. So I think sometimes people kid themselves that they're playing, you know, making the market more efficient. It's like, Yeah, I know it does that, like, innately just I don't know, I'm curious, does this resonate or not or how would you think about it? I was, I was actually talking to our team. And one of the things we, we're trying to do in the brain and in the content and how we get the word out to what we do in the storytelling is like kind of classic storytelling is always, you know, problem, journey, solution, protagonist, antagonist, kind of the journey that comes along in called the Hero's Journey.

00:32:34:06 - 00:32:51:00
Unknown
Like all these things that people kind of like, there's an arc to a story always. It's kind of like innate to people. So the question is, who is the bad guy in the story? Right? Who is the person that is? And so I'm going to and it's a hard needle for us to thread because of what you just said we are and we are capitalized.

00:32:51:00 - 00:33:17:00
Unknown
Is being also core of being America? Is agency over being being able to to provide a living and to make one. I, I don't like private equity in itself or big money or those kind of things. I don't know that any of that stuff. I know that SF is innately not inherently evil. Yeah. I do think, though.

00:33:17:02 - 00:33:50:03
Unknown
It's a little bit more along the lines of what happens when two things become frequent and consistent, which is when money becomes the thing, when it is just hard because our human nature will gravitate towards greed or whatever you want to call that. It'll optimize for a spreadsheet sell versus what's going on. And then on the other half of it, too, it's this anytime you continue to build something that gets you further and further removed from being in touch with what is going on.

00:33:50:06 - 00:34:14:08
Unknown
Yeah. Hence why you said it's operator, not owner. Yeah. It's like anytime you lose that tactile feeling, you end up. I think about my father in law who every year he could probably pay himself more money. I know he can. Yeah. You know, him and the other brothers that run the business. The reason he doesn't is because one I think is old school values, but I also think he.

00:34:14:09 - 00:34:33:05
Unknown
Because he's like, if I have enough, why would I need to pay myself more? Yeah. But he has seen times in the business that needed a little extra cash to weather a storm to keep the employees played when the weather came in. Yeah. And it's not something that you would see from the tower. Sure. So I guess I'm saying all that to say, like, I don't know what is that on base or.

00:34:33:06 - 00:35:00:03
Unknown
Yeah, I think so. Like my, my view of it is like the boogeyman is anything that gets in between the American public and then being able to achieve their, their American dream. That can be you know, private equity funds coming in and buying up all small town USA. It can also be folks my age who are doing nothing but complaining about the country.

00:35:00:07 - 00:35:26:07
Unknown
Yeah, screw you too. So like I think like within. But like you said, private equity is an evil. We need private equity. It serves a valuable role in the markets. They're really easy to make fun of. So they don't really help themselves. But a lot of my friends, are in private equity, and they. I think they like when I make fun of them the most, in fact, so I don't think any of them are inherently evil.

00:35:26:13 - 00:35:54:06
Unknown
I also don't think you know, some 24 year old living in Murray Hill knows anything about running a waste management business or auto shop or anything like that. So, I think that we want, you know, any time finance gets in over their skis, it never ends. Well, like in the 80s, a lot of people thought it was a great idea to buy a business, and a lot of them flamed out and we went into a little economic issue.

00:35:54:07 - 00:36:15:19
Unknown
So, you know, I think it's all about kind of moderation, which I'm not very good at, but, I think we don't want private equity to go too crazy. We want to kind of keep them checked. You know, you focus on, where it makes sense. And let's make sure that we have a viable alternative for American owners that keep their business locally owned and operated for the ones that feel called to do so.

00:36:15:19 - 00:36:34:18
Unknown
And for the other ones, if you want to sell out, it's your right. So go sell out. But you know, know what you're selling out. So yeah, they feel the pain. Like who's leading the dance on this thing. Yeah. Let these operators do what they do. Otherwise you end up finding and I know it's probably like for some folks, I think, who feel that they'll they'll know what we're talking about.

00:36:34:19 - 00:36:56:14
Unknown
And I think folks who don't do your point. Give it a go. Yeah. Give it a go. Tell us about it in a year. How you feel. Yeah, I think the the other part about all of this is just us being able to bring the American public along with us, like even the Da Vinci all throw a lot of folks aren't necessarily owners or ready to buy a business or anything like that right now.

00:36:56:16 - 00:37:16:18
Unknown
How have you kind of seen their reaction to the the problem statement or the the message? We're trying to push? They love it, man. You know, it's weird is that they're often the most hyped about it. These folks have either never owned or never planned to own. Yeah. Would you at first, like from our perspective, you'd go, well, that's not helpful.

00:37:16:19 - 00:37:26:09
Unknown
You know, like, hey, I need you to do one of those things. But if you really think about it, it's really the.

00:37:26:10 - 00:37:31:09
Unknown
The thing that goes through my brain, it's a little bit like.

00:37:31:11 - 00:37:47:16
Unknown
It's like watching a sports game. If we are there to kind of feel the really great competition between the two teams, you need all the people in the stands. Yeah. Like otherwise it's not even worth having, you know? And so if you don't have people celebrating it, then who cares? Yeah. You know, it's just like you're doing this in a vacuum.

00:37:47:16 - 00:38:05:22
Unknown
And so when we meet these folks, I think the things that resonate and it seem to just be the thing that that hits them when it goes from like 0 to 100 and no time like they're there as soon as we kind of talk about what American operators, why we do it and why we exist, get it factors right there a lot of that to you, though.

00:38:05:23 - 00:38:25:04
Unknown
You could lead to like a revival church in another lifetime. I'm just saying you got your uniquely talented person. Well, I hope that does always keep me in check, man. If I end up going down the road where we start. Selling carpets and stuff just because we can. That's right, that's right. Yeah. But but I do think.

00:38:25:09 - 00:38:43:06
Unknown
Yeah, thanks for that. But also, I think they like, there's just something it's like hardwired in them. The part that's exciting. Here's what I'll say from my point of view when I'm up there and we're kind of rallying folks and we're getting folks to go, what I notice is there is this thing that's hardwired in every American that like, it's reignited.

00:38:43:08 - 00:39:06:14
Unknown
And for some folks, they didn't even know it existed. And it's just like what gets them hyped? And I think it's because American ownership, like the American dream, that idea means everything from it's such a multi, it's such a multifaceted idea. It's just a great idea. It is one that resonates internationally and domestically. It's this idea that it can be as small as.

00:39:06:16 - 00:39:25:14
Unknown
Your kids are able to go to school safely all the way to a paid for home. But I think one of the Pearson like expressions of the American dream is ownership, right? Ownership of land, ownership of your business, ownership, your home ownership of your life. I think that's what resonates with all of them. Yeah, it's like they and they all know somebody who's an owner in their community.

00:39:25:15 - 00:39:46:02
Unknown
Yeah, they all go to a coffee shop, get a local plumber like they all know those people. Yeah. So and I think if you know, and work around those people, there's something about wanting to see them win. Sure. We're like this very. This is collective. I mean, we're competitive culture, but it's also one that I think we just want to see our fellow American win.

00:39:46:02 - 00:40:02:21
Unknown
Yeah. So I'll say all that to say that, like these events that we throw in these events that we get fortunate to have people come out to every time, if most of them are just supporters. Yeah, it's a win. Yeah, yeah. As we count around bases here will like what do you if we do our job right here.

00:40:02:21 - 00:40:37:13
Unknown
We keep finding great operators. We keep finding continue to find great owners. What does America have to look forward to like by helping us? Like, I don't want us to be the only one. We don't want us to be the only ones pushing this mission. Yeah, like, what do they have to look forward to? Yeah. I mean, the kind of medium term, goal is to provide a mechanism for the supporters of ours, the allies of ours, the folks who believe in our mission to own a stake in what we're doing, and allow the American public to have a stake in the American dream.

00:40:37:15 - 00:41:00:15
Unknown
The exact timing of, like, when when we would do some type of go public transaction. We're still we're still working out, but it's, definitely the next 2 or 3 years. Always the target is. So that's that's kind of like the end state of this is like we have a publicly traded company. That company is composed of a bunch of great, exceptional and small businesses run by owners in their community.

00:41:00:17 - 00:41:24:02
Unknown
And we are able to finance new businesses in need of a successor kind of coming into our, into our company using the dollars of the same Americans here, their customers in the same Americans who live in town. And it's a very pure form of, of a, of a company. That's that's kind of like the big thing that that is up next on on the roadmap.

00:41:24:02 - 00:41:26:05
Unknown
And.

00:41:26:07 - 00:41:53:03
Unknown
When we do that, I think what's really cool is that the whole model, end to end, is very clean. And it is just this fucking American dream machine. So we're able to essentially train, help the, help small small business owners like, well, let me let me tell you what's not the American dream. You slave away, you build this business, you employ other folks, and you just shut it down at the end.

00:41:53:05 - 00:42:14:21
Unknown
That's extremely lame. And so we're able to essentially, like, allow them, like, exit on a high note where they're getting paid millions of dollars for this thing that they just built from nothing. And we're doing it in a way that's allowing the next generation to go take it to new heights, make millions of dollars, create wealth, have have great families, be involved in their community.

00:42:14:23 - 00:42:33:23
Unknown
And along the way, as we're kind of capturing that upside through the share repurchases and distributions of profit we can share it with, with our everyday American shareholders. I mean, that's beautiful. So that's kind of the goal to get there. You know, there's a lot of brain damage, as you can probably see from my facial expression most days.

00:42:34:01 - 00:42:50:14
Unknown
So we'd love your help. Well, whatever you want to give it to us. It takes a takes a village. We get the nasty things, we get messages randomly, almost on the daily that people who just want to. Oh, yeah. Let's go. That's awesome. It's awesome. Man. If anything, that helps the it helps brain damage be a little for sure.

00:42:50:14 - 00:43:08:04
Unknown
I mean, most mornings I walk in and Chauncey, who's behind the camera says, hey to me. I'm like, hey, I just love a good coffee. But yeah, I mean, it's moments like those and the words of support and then folks referring of like, hey, this guy got out of the service two years ago, he's been working this job.

00:43:08:04 - 00:43:23:02
Unknown
I think you make a great owner or, hey, there's this quality business in town. That thinking about kind of what they do, we don't want them to close their doors. Can you all help all of that? I mean, at the end of the day, this this is a company, but it's a company to achieve a mission.

00:43:23:02 - 00:43:41:15
Unknown
And so it's much more of, like, get a bunch of people involved. Company is just the vehicle to do it. So last thing, speaking of American operator, maybe we both can take a stab at this for those are like, okay, I got you mission got the values seem to believe it. Y'all are coming through some conviction went to the website.

00:43:41:17 - 00:44:04:05
Unknown
Who are the humans that like? How would you describe the teammates running around this, this little industrial building that we have here? Like how would you describe the people shepherding all the moving pieces out there? I think I'm always just yeah, floored with the the quality and culture of folks at the fine. How would you describe or give some insight to folks who are like who they're actually working with?

00:44:04:06 - 00:44:25:13
Unknown
They're dialed. Now the team seems great. And that's a product of consistent pressure and good hiring. No. Yeah. I think it. And constant mush. Yeah. I think at the end of the day that like the values, I don't know if we have our values on the website, but the values that we have internally, people live by them or they're not here.

00:44:25:15 - 00:44:49:22
Unknown
And so like, people act like an owner. They, they work really hard. They're pro-American. Like, it makes absolutely. No, there are easier ways to make money. And people are here for, for for that reason, they want to make America a better place, to leave it in a better spot than you found it. And I think we also have a very, like, low ego culture, which is really good.

00:44:50:00 - 00:45:05:16
Unknown
It allows us to iterate really quickly and get better, but it also makes us, like, fun to be around if you're an owner and operator, we're not telling you, look how smart I am. It's like, no, we know our lane. Our lane is not. You're like, you tell us how smart you are. We want to learn from you and we want to hear your story.

00:45:05:18 - 00:45:24:02
Unknown
That's how I would articulate it. But but yet now I think I mean, I that I would add one, on the values. I think that's, like a tradition that no one will ever see. But I'll share a little bit about what's going on here. Call it a ritual that we do every month is like the team here votes on our values.

00:45:24:02 - 00:45:47:15
Unknown
They vote, they vote. The leadership doesn't pick. Nobody like Will doesn't pick. I don't pick. The team picks. The people in this company that have embody the values. And you know, whether it's hungry dogs run faster, acting like an owner, being unapologetic, you know, unapologetically American or shooting straight. That's my one of my favorites, which is just like people who just shoot you straight and talking.

00:45:47:16 - 00:46:03:19
Unknown
It's cool to see them, like getting fired up to go. Nominate their buddies and saying like, that's the thing. It's also the number one way to get fired from here. Violated value. True. Yeah. So just like and that is a scare tactic. Just more like we take this junk seriously. Like if ain't going to do that this way.

00:46:03:19 - 00:46:30:14
Unknown
Too much important stuff at stake for sure. And we don't have that much time like majority owners are over over 55. Like we don't have all the time in the world. So we gotta move fast. Yeah, we're trying to get that. There's a current. It's a good current. Yeah. But it ain't going to be forever. And if you really catch it and it's like I've said this before, but Nick Saban is just such a wealth of wisdom and his whole thing is like, high standards are the highest form of respect.

00:46:30:14 - 00:46:47:15
Unknown
And like, that's just so, so true. Yeah. So true. And people want them. Yeah, people want them. I'll end it with saying also, if anybody ever gets a chance and you are coming through Austin, Texas, which I kind of laugh about, anytime we meet owners, like, where are y'all based at? They probably expect us to say some little town in Missouri.

00:46:47:15 - 00:47:04:07
Unknown
Or is that? And we're like Austin, Texas. Like, oh, all right, y'all all right over there? You know? Yeah. They don't know what the heck they're like, You don't seem like you're from Austin, Texas. But I'll tell you a lot of good people here in Austin. But but I do say that. Please come on by. Yeah. Like this building is open to y'all.

00:47:04:07 - 00:47:19:09
Unknown
Yeah, totally. Yeah. Just don't take our flag. We have we have three flags out in America and a Texas flag and and come and take it. It's all flag. It is now inside the house because a lot of people will take that like some anti-American or they're like, so pro-American. They're like, they're challenging me and coming for that.

00:47:19:09 - 00:47:42:12
Unknown
Fuck yeah. We don't know who it was, but we took the flag back and it's safe right now. It's on full armed guard. Yeah, yeah. Crockett is manning the flag and flag, man. Yeah. No, I'm. I'm proud of the team here. And proud of what we're doing. I don't, I don't I think it's impossible to not feel, the sense of duty in this company.

00:47:42:16 - 00:48:04:07
Unknown
Yeah, it is, it is a sense of duty. You're right. Because all these people would go somewhere else. Work hard. Yeah. Make three times as much. Yeah, but they're here. Why? Duty? Yeah. For sure. Where, where y'all headed? Out next on the road. Where can people find y'all? We're going to be releasing a calendar here on live events.

00:48:04:07 - 00:48:19:21
Unknown
We are coming up here in 26. Part of it is going to be we actually have some dates open because we want to make it like more open to y'all, right? Tell us where we need to come to go find more of y'all. Yeah. But in the meantime, we got some stuff, like, kind of more. In the immediate future, we're going to be in Jackson, Wyoming.

00:48:19:21 - 00:48:39:02
Unknown
We're going to be in Saint Louis, Missouri. Nice. We got some stuff here in Texas that we're doing. We're going to go visit our friend in California. Okay. You know, at some points has got to show the interesting, explain to them what the American dream means. Yes. What is what is going on in the other 47 hour, 49 states?

00:48:39:04 - 00:48:57:01
Unknown
But I do think it's, there's a there's actually on purpose left a lot of room open for where we're traveling to for live events. Cool. And y'all come out to live event. When you check out our website, it'll be listed there here shortly. It's just fun. Yeah, it's a fun event is amazing. It's a vibe. You leave that fired up getting ready.

00:48:57:03 - 00:49:17:01
Unknown
Yeah. It's like we got good speakers and people and chow and drinks, and it's just a place for people to commune. We're also trying to launch this other thing with, like a meetup. We we trialed it. It's actually works. Well. So if you're somebody out there who thinks you might be like a great ambassador, like somebody who could just be, like, a good advocate for what we do, and you're on the East Coast or you're in the Midwest.

00:49:17:01 - 00:49:40:00
Unknown
Yeah. Hit us up. Might be able to figure out how we can kind of help you, help us help you kind of do these more casual things. And then storytelling. The one thing I will ask sincerely and deeply for is the best stories out there are by these humble Americans who don't want to say anything. And as they just get their head down and grit in a way, you know who they are.

00:49:40:00 - 00:49:54:15
Unknown
If they're a great story, please give us a holler. We need to go find them. You know, that's part of why we're here in Jackson, to go tell a great story about a painting crew, husband and wife team, now sold to a military veteran. Yeah, but there's a lot of other stories out there, so if you got them, please let us know.

00:49:54:15 - 00:50:07:04
Unknown
But, yeah, we'll be in full force next year. When? When folks are thinking about good story, what are the kind of, like the key ingredients of a good story? The.

00:50:07:05 - 00:50:26:06
Unknown
There's three things I think our team always look for outside of like the story arc. One is characters. Do you have humans as a part of this story that are just unruly? They're very American rather than loud. Think about somebody from the Bronx or somebody who's just a gun slinging Texan, like, yeah, somebody who's got no filter.

00:50:26:07 - 00:50:46:20
Unknown
Yeah, the better, because and they just like, run that business and nobody knows how. They're not out of business because they're just doing some things. It would probably be in violation at a big company. Right. Or like be a little bit uncouth. That's always interesting from like a character dynamic. The other thing is impact. Like how are these stories impacting the community?

00:50:46:20 - 00:50:56:04
Unknown
What are they, you know, are these humans that change the day in and day out of their community? And then finally, I think is,

00:50:56:05 - 00:51:16:07
Unknown
I have no other way to say than like. Vibe. Yeah. It's like, is this, like, wound up chemistry, chemistry vibe into a butcher shop? It's like they're clearly familial. Yeah. Backdrop is clearly just interesting. I mean, they're falling in. Yeah. It's animals. It's like there's just something about the motion. Yeah. Just think about what you would want to watch.

00:51:16:08 - 00:51:28:18
Unknown
Right? That's the good story. The day in the life of a small accounting firm. It's a little bit challenging. Stallion, I want to talk to you. I want you to come to our media up. I want you to come to our live event. We want to celebrate you. It's going to be hard to put you on the big screen.

00:51:28:18 - 00:51:48:02
Unknown
It might be tough. There's only so many ways. My team. We're team is talented, man, you know? But it is. Both Matt and Brittany are like, incredible. But they are. It's hard to there's so, so many ways you can shoot a spreadsheet. Yeah, yeah, yeah. It's a quick bus in some in. Oh, yeah. I forgot my password.

00:51:48:04 - 00:52:04:14
Unknown
Yeah. This is like this expense continues, you know. Yeah. Part two. If get part F so on that thing. So but yeah that's what we got coming up. But again you have you all have great stories. You know where to finance American operator.com. All right. Well fired up. Thanks for jumping on brother dude. Anytime. Yeah we'll get you back on.

00:52:04:15 - 00:52:13:04
Unknown
Let everybody know I'm the least I'm always interesting. His stories are amazing. No, I mean, the stores are amazing. These are good. Thank you. Yeah. Let's go.