{"version":"1.0.0","segments":[{"speaker":"Presenter","startTime":0.81,"endTime":4.2,"body":"The Being An Engineer"},{"speaker":"Presenter","startTime":0.81,"endTime":4.2,"body":"Podcast is a repository for"},{"speaker":"Presenter","startTime":4.2,"endTime":7.38,"body":"industry knowledge and a tool"},{"speaker":"Presenter","startTime":4.2,"endTime":7.38,"body":"through which engineers learn"},{"speaker":"Presenter","startTime":7.38,"endTime":11.37,"body":"about and connect with relevant"},{"speaker":"Presenter","startTime":7.38,"endTime":11.37,"body":"companies, technologies, people,"},{"speaker":"Presenter","startTime":11.37,"endTime":15.33,"body":"resources and opportunities."},{"speaker":"Presenter","startTime":11.37,"endTime":15.33,"body":"Enjoy the show."},{"speaker":"Rafael Testai","startTime":29.97,"endTime":32.1,"body":"Hello, everyone,"},{"speaker":"Rafael Testai","startTime":29.97,"endTime":32.1,"body":"and welcome to the Being An"},{"speaker":"Rafael Testai","startTime":32.1,"endTime":37.14,"body":"Engineer show. We have today a"},{"speaker":"Rafael Testai","startTime":32.1,"endTime":37.14,"body":"very prestigious guest. We have"},{"speaker":"Rafael Testai","startTime":37.14,"endTime":42.93,"body":"Kevin Mako, and he's the Founder"},{"speaker":"Rafael Testai","startTime":37.14,"endTime":42.93,"body":"of Mako Design and Invent, and"},{"speaker":"Rafael Testai","startTime":42.93,"endTime":46.02,"body":"they have four locations in"},{"speaker":"Rafael Testai","startTime":42.93,"endTime":46.02,"body":"Austin, Miami, San Francisco,"},{"speaker":"Rafael Testai","startTime":46.02,"endTime":49.62,"body":"and Toronto. And Mako Design and"},{"speaker":"Rafael Testai","startTime":46.02,"endTime":49.62,"body":"Invent is basically a company"},{"speaker":"Rafael Testai","startTime":49.62,"endTime":54.15,"body":"that can take any inventors idea"},{"speaker":"Rafael Testai","startTime":49.62,"endTime":54.15,"body":"from a napkin, to fully"},{"speaker":"Rafael Testai","startTime":54.15,"endTime":57.84,"body":"prototype, design it and launch"},{"speaker":"Rafael Testai","startTime":54.15,"endTime":57.84,"body":"in the marketplace with patents,"},{"speaker":"Rafael Testai","startTime":57.9,"endTime":61.41,"body":"the whole thing, he does the"},{"speaker":"Rafael Testai","startTime":57.9,"endTime":61.41,"body":"whole thing and the four"},{"speaker":"Rafael Testai","startTime":61.41,"endTime":64.65,"body":"locations all across the world."},{"speaker":"Rafael Testai","startTime":61.41,"endTime":64.65,"body":"That's pretty exciting. I'm your"},{"speaker":"Rafael Testai","startTime":64.65,"endTime":68.61,"body":"co-host, Rafael Testai. So"},{"speaker":"Rafael Testai","startTime":64.65,"endTime":68.61,"body":"Kevin, I have to ask you, when I"},{"speaker":"Rafael Testai","startTime":68.61,"endTime":72.33,"body":"looked at your LinkedIn, it said"},{"speaker":"Rafael Testai","startTime":68.61,"endTime":72.33,"body":"that you started Mako Design and"},{"speaker":"Rafael Testai","startTime":72.33,"endTime":75.78,"body":"Invent 22 years ago,, but you"},{"speaker":"Rafael Testai","startTime":72.33,"endTime":75.78,"body":"look like you're 30 years old."},{"speaker":"Rafael Testai","startTime":75.81,"endTime":77.34,"body":"How is that possible?"},{"speaker":"Kevin Mako","startTime":77.54,"endTime":80.66,"body":"Yeah. That's a very"},{"speaker":"Kevin Mako","startTime":77.54,"endTime":80.66,"body":"nice compliment. I'll tell, I'll"},{"speaker":"Kevin Mako","startTime":80.66,"endTime":84.83,"body":"tell you, hopefully that 'll"},{"speaker":"Kevin Mako","startTime":80.66,"endTime":84.83,"body":"last, I'm 37. I have a little,"},{"speaker":"Kevin Mako","startTime":85.04,"endTime":88.61,"body":"little 10 month old little fella"},{"speaker":"Kevin Mako","startTime":85.04,"endTime":88.61,"body":"and, and a wife here at the"},{"speaker":"Kevin Mako","startTime":88.61,"endTime":91.97,"body":"house I'm recording out of"},{"speaker":"Kevin Mako","startTime":88.61,"endTime":91.97,"body":"today. And yeah, this was just"},{"speaker":"Kevin Mako","startTime":92.0,"endTime":96.29,"body":"it was just an idea back in high"},{"speaker":"Kevin Mako","startTime":92.0,"endTime":96.29,"body":"school. And then that molded"},{"speaker":"Kevin Mako","startTime":96.29,"endTime":98.33,"body":"into a company actually"},{"speaker":"Kevin Mako","startTime":96.29,"endTime":98.33,"body":"incorporated halfway through"},{"speaker":"Kevin Mako","startTime":98.33,"endTime":101.27,"body":"university at the Ivey Business"},{"speaker":"Kevin Mako","startTime":98.33,"endTime":101.27,"body":"School, which is Harvard,"},{"speaker":"Kevin Mako","startTime":101.66,"endTime":104.84,"body":"Harvard Business School, sister"},{"speaker":"Kevin Mako","startTime":101.66,"endTime":104.84,"body":"school up in Canada, section"},{"speaker":"Kevin Mako","startTime":104.84,"endTime":107.75,"body":"class president there, pick of"},{"speaker":"Kevin Mako","startTime":104.84,"endTime":107.75,"body":"the litter of jobs and whatever"},{"speaker":"Kevin Mako","startTime":107.75,"endTime":111.2,"body":"else. And I turned them all"},{"speaker":"Kevin Mako","startTime":107.75,"endTime":111.2,"body":"down, essentially, to try this"},{"speaker":"Kevin Mako","startTime":111.2,"endTime":114.5,"body":"crazy business that I"},{"speaker":"Kevin Mako","startTime":111.2,"endTime":114.5,"body":"essentially found in high school"},{"speaker":"Kevin Mako","startTime":114.5,"endTime":117.98,"body":"incorporated in university and"},{"speaker":"Kevin Mako","startTime":114.5,"endTime":117.98,"body":"then went full time into it. I"},{"speaker":"Kevin Mako","startTime":117.98,"endTime":120.5,"body":"did a little stint at Hong Kong"},{"speaker":"Kevin Mako","startTime":117.98,"endTime":120.5,"body":"University for supply chain"},{"speaker":"Kevin Mako","startTime":120.5,"endTime":124.43,"body":"management and all that stuff."},{"speaker":"Kevin Mako","startTime":120.5,"endTime":124.43,"body":"And then after graduating from"},{"speaker":"Kevin Mako","startTime":124.79,"endTime":128.93,"body":"HKU, and Ivey, then yeah, that"},{"speaker":"Kevin Mako","startTime":124.79,"endTime":128.93,"body":"was it this full time. And for"},{"speaker":"Kevin Mako","startTime":128.93,"endTime":131.45,"body":"better or worse, here I am"},{"speaker":"Kevin Mako","startTime":128.93,"endTime":131.45,"body":"today. It was not easy in the"},{"speaker":"Kevin Mako","startTime":131.45,"endTime":135.11,"body":"early days tell you that. But"},{"speaker":"Kevin Mako","startTime":131.45,"endTime":135.11,"body":"yeah, here we are with the coast"},{"speaker":"Kevin Mako","startTime":135.11,"endTime":138.38,"body":"coast offices and well, over"},{"speaker":"Kevin Mako","startTime":135.11,"endTime":138.38,"body":"1000 products worked on and all"},{"speaker":"Kevin Mako","startTime":138.38,"endTime":141.26,"body":"that stuff. So it's been been"},{"speaker":"Kevin Mako","startTime":138.38,"endTime":141.26,"body":"quite a ride, all with same"},{"speaker":"Kevin Mako","startTime":141.26,"endTime":143.6,"body":"vision, though, that we started"},{"speaker":"Kevin Mako","startTime":141.26,"endTime":143.6,"body":"with all the way back in high"},{"speaker":"Kevin Mako","startTime":143.6,"endTime":146.09,"body":"school. It's the exact same"},{"speaker":"Kevin Mako","startTime":143.6,"endTime":146.09,"body":"company, same vision, same"},{"speaker":"Kevin Mako","startTime":146.09,"endTime":150.14,"body":"business model, just bigger,"},{"speaker":"Kevin Mako","startTime":146.09,"endTime":150.14,"body":"obviously heavily improved,"},{"speaker":"Kevin Mako","startTime":150.14,"endTime":153.29,"body":"refined over the years. And now"},{"speaker":"Kevin Mako","startTime":150.14,"endTime":153.29,"body":"here we sat"},{"speaker":"Rafael Testai","startTime":154.07,"endTime":155.9,"body":"You don't hear"},{"speaker":"Rafael Testai","startTime":154.07,"endTime":155.9,"body":"that very often. All the way"},{"speaker":"Rafael Testai","startTime":155.9,"endTime":158.87,"body":"from high school, you start one"},{"speaker":"Rafael Testai","startTime":155.9,"endTime":158.87,"body":"businesses and you stick with"},{"speaker":"Rafael Testai","startTime":158.87,"endTime":161.99,"body":"it, and we're 37 years old, are"},{"speaker":"Rafael Testai","startTime":158.87,"endTime":161.99,"body":"you still going at a strong?"},{"speaker":"Kevin Mako","startTime":162.2,"endTime":164.9,"body":"Yeah, well, it's not"},{"speaker":"Kevin Mako","startTime":162.2,"endTime":164.9,"body":"like I didn't try other things"},{"speaker":"Kevin Mako","startTime":164.9,"endTime":166.94,"body":"like in high school in"},{"speaker":"Kevin Mako","startTime":164.9,"endTime":166.94,"body":"university, I was definitely"},{"speaker":"Kevin Mako","startTime":166.94,"endTime":169.85,"body":"playing around with a few things"},{"speaker":"Kevin Mako","startTime":166.94,"endTime":169.85,"body":"and testing the waters. But this"},{"speaker":"Kevin Mako","startTime":169.85,"endTime":173.18,"body":"seemed to be the one that just"},{"speaker":"Kevin Mako","startTime":169.85,"endTime":173.18,"body":"kept sticking and growing. And"},{"speaker":"Kevin Mako","startTime":173.6,"endTime":177.32,"body":"eventually when I went into this"},{"speaker":"Kevin Mako","startTime":173.6,"endTime":177.32,"body":"full time, within probably a"},{"speaker":"Kevin Mako","startTime":177.32,"endTime":180.71,"body":"year after I graduated,"},{"speaker":"Kevin Mako","startTime":177.32,"endTime":180.71,"body":"basically all the other little"},{"speaker":"Kevin Mako","startTime":180.71,"endTime":183.11,"body":"things that I was working on"},{"speaker":"Kevin Mako","startTime":180.71,"endTime":183.11,"body":"trying to be an entrepreneur"},{"speaker":"Kevin Mako","startTime":183.11,"endTime":186.29,"body":"trying to bring all these ideas"},{"speaker":"Kevin Mako","startTime":183.11,"endTime":186.29,"body":"to life, it really trickled down"},{"speaker":"Kevin Mako","startTime":186.29,"endTime":191.06,"body":"to this as my single focus,"},{"speaker":"Kevin Mako","startTime":186.29,"endTime":191.06,"body":"which I've now focused on ever"},{"speaker":"Kevin Mako","startTime":191.06,"endTime":193.16,"body":"since right graduating back in"},{"speaker":"Kevin Mako","startTime":191.06,"endTime":193.16,"body":"2007."},{"speaker":"Rafael Testai","startTime":194.27,"endTime":197.21,"body":"So how would you"},{"speaker":"Rafael Testai","startTime":194.27,"endTime":197.21,"body":"define the services of  Mako"},{"speaker":"Rafael Testai","startTime":197.21,"endTime":198.32,"body":"Design and Invent?"},{"speaker":"Kevin Mako","startTime":198.98,"endTime":201.02,"body":"Yeah, I simply put,"},{"speaker":"Kevin Mako","startTime":198.98,"endTime":201.02,"body":"we're a professional grade,"},{"speaker":"Kevin Mako","startTime":201.35,"endTime":204.74,"body":"physical product design for"},{"speaker":"Kevin Mako","startTime":201.35,"endTime":204.74,"body":"hardware startups and small"},{"speaker":"Kevin Mako","startTime":204.77,"endTime":207.71,"body":"hardware manufacturers. So"},{"speaker":"Kevin Mako","startTime":204.77,"endTime":207.71,"body":"basically, like global caliber"},{"speaker":"Kevin Mako","startTime":207.71,"endTime":212.09,"body":"design, but tailored to the"},{"speaker":"Kevin Mako","startTime":207.71,"endTime":212.09,"body":"small folks. And we work with"},{"speaker":"Kevin Mako","startTime":212.12,"endTime":217.85,"body":"everything from, home adventures"},{"speaker":"Kevin Mako","startTime":212.12,"endTime":217.85,"body":"with our first idea to small"},{"speaker":"Kevin Mako","startTime":217.85,"endTime":220.16,"body":"manufacturers that have been"},{"speaker":"Kevin Mako","startTime":217.85,"endTime":220.16,"body":"around for 50 years that are"},{"speaker":"Kevin Mako","startTime":220.16,"endTime":223.73,"body":"trying to build the next hot"},{"speaker":"Kevin Mako","startTime":220.16,"endTime":223.73,"body":"thing. And that's pretty much"},{"speaker":"Kevin Mako","startTime":223.73,"endTime":225.8,"body":"it, we take them all the way"},{"speaker":"Kevin Mako","startTime":223.73,"endTime":225.8,"body":"from scratch through to their"},{"speaker":"Kevin Mako","startTime":225.92,"endTime":230.27,"body":"first production run, we do all"},{"speaker":"Kevin Mako","startTime":225.92,"endTime":230.27,"body":"the design, prototyping all the"},{"speaker":"Kevin Mako","startTime":230.27,"endTime":233.27,"body":"engineering in between, and get"},{"speaker":"Kevin Mako","startTime":230.27,"endTime":233.27,"body":"them to their first production"},{"speaker":"Kevin Mako","startTime":233.27,"endTime":235.85,"body":"run, get them going. And then"},{"speaker":"Kevin Mako","startTime":233.27,"endTime":235.85,"body":"they're out of the nest. And we"},{"speaker":"Kevin Mako","startTime":235.85,"endTime":238.13,"body":"can connect them with a bunch of"},{"speaker":"Kevin Mako","startTime":235.85,"endTime":238.13,"body":"sources after that, like patent"},{"speaker":"Kevin Mako","startTime":238.13,"endTime":240.77,"body":"attorneys or crowdfunding"},{"speaker":"Kevin Mako","startTime":238.13,"endTime":240.77,"body":"agencies, distributors,"},{"speaker":"Kevin Mako","startTime":240.77,"endTime":244.64,"body":"wholesalers, you name it. So we"},{"speaker":"Kevin Mako","startTime":240.77,"endTime":244.64,"body":"try and at least connect them"},{"speaker":"Kevin Mako","startTime":244.64,"endTime":247.7,"body":"with all the resources, they"},{"speaker":"Kevin Mako","startTime":244.64,"endTime":247.7,"body":"need to then scale that product"},{"speaker":"Kevin Mako","startTime":247.7,"endTime":251.03,"body":"business to be a national or"},{"speaker":"Kevin Mako","startTime":247.7,"endTime":251.03,"body":"even international product"},{"speaker":"Kevin Mako","startTime":251.03,"endTime":251.66,"body":"success."},{"speaker":"Rafael Testai","startTime":252.38,"endTime":254.42,"body":"Definitely, I was"},{"speaker":"Rafael Testai","startTime":252.38,"endTime":254.42,"body":"watching the YouTube videos of"},{"speaker":"Rafael Testai","startTime":254.42,"endTime":257.45,"body":"your company, and it mentions"},{"speaker":"Rafael Testai","startTime":254.42,"endTime":257.45,"body":"how you have the whole network."},{"speaker":"Rafael Testai","startTime":257.48,"endTime":260.15,"body":"When inventors come to you, you"},{"speaker":"Rafael Testai","startTime":257.48,"endTime":260.15,"body":"can connect them to the right"},{"speaker":"Rafael Testai","startTime":260.15,"endTime":261.62,"body":"resource that's really valuable."},{"speaker":"Kevin Mako","startTime":261.95,"endTime":265.4,"body":"Well, I mean, think"},{"speaker":"Kevin Mako","startTime":261.95,"endTime":265.4,"body":"about it, right? If you're doing"},{"speaker":"Kevin Mako","startTime":265.4,"endTime":268.76,"body":"design work for a big corporate"},{"speaker":"Kevin Mako","startTime":265.4,"endTime":268.76,"body":"firm, you're like one piece of"},{"speaker":"Kevin Mako","startTime":268.76,"endTime":270.8,"body":"the overall project. And"},{"speaker":"Kevin Mako","startTime":268.76,"endTime":270.8,"body":"traditionally, that's how"},{"speaker":"Kevin Mako","startTime":270.8,"endTime":273.38,"body":"industrial design firms worked,"},{"speaker":"Kevin Mako","startTime":270.8,"endTime":273.38,"body":"right? They did a little part,"},{"speaker":"Kevin Mako","startTime":273.41,"endTime":276.68,"body":"they toss stuff back and forth"},{"speaker":"Kevin Mako","startTime":273.41,"endTime":276.68,"body":"over the fence, relatively easy"},{"speaker":"Kevin Mako","startTime":276.68,"endTime":280.43,"body":"work for the design firm, a lot"},{"speaker":"Kevin Mako","startTime":276.68,"endTime":280.43,"body":"of great creativity and stuff"},{"speaker":"Kevin Mako","startTime":280.43,"endTime":283.28,"body":"that happens. But at the end of"},{"speaker":"Kevin Mako","startTime":280.43,"endTime":283.28,"body":"the day, you have some massive"},{"speaker":"Kevin Mako","startTime":283.28,"endTime":286.28,"body":"corporate giant who then knows"},{"speaker":"Kevin Mako","startTime":283.28,"endTime":286.28,"body":"how to spin that into success."},{"speaker":"Kevin Mako","startTime":286.58,"endTime":288.98,"body":"Well, we're dealing primarily"},{"speaker":"Kevin Mako","startTime":286.58,"endTime":288.98,"body":"with early stage companies,"},{"speaker":"Kevin Mako","startTime":288.98,"endTime":293.6,"body":"startups, home inventors, that"},{"speaker":"Kevin Mako","startTime":288.98,"endTime":293.6,"body":"thing. Most of the time, they"},{"speaker":"Kevin Mako","startTime":293.6,"endTime":296.87,"body":"don't have any of those"},{"speaker":"Kevin Mako","startTime":293.6,"endTime":296.87,"body":"resources tapped or even know"},{"speaker":"Kevin Mako","startTime":296.87,"endTime":300.68,"body":"what those resources are, what"},{"speaker":"Kevin Mako","startTime":296.87,"endTime":300.68,"body":"direction to take. So creates a"},{"speaker":"Kevin Mako","startTime":300.68,"endTime":306.2,"body":"very different model of how you"},{"speaker":"Kevin Mako","startTime":300.68,"endTime":306.2,"body":"work to help a startup succeed"},{"speaker":"Kevin Mako","startTime":306.38,"endTime":309.14,"body":"in a product competing against"},{"speaker":"Kevin Mako","startTime":306.38,"endTime":309.14,"body":"those big companies, their"},{"speaker":"Kevin Mako","startTime":309.14,"endTime":312.59,"body":"products, right? How do we how"},{"speaker":"Kevin Mako","startTime":309.14,"endTime":312.59,"body":"do we help our startups win, and"},{"speaker":"Kevin Mako","startTime":312.59,"endTime":315.05,"body":"then what usually ends up"},{"speaker":"Kevin Mako","startTime":312.59,"endTime":315.05,"body":"happening for our clients that"},{"speaker":"Kevin Mako","startTime":315.05,"endTime":318.47,"body":"end up getting into selling and"},{"speaker":"Kevin Mako","startTime":315.05,"endTime":318.47,"body":"all that stuff, generally, that"},{"speaker":"Kevin Mako","startTime":318.47,"endTime":320.99,"body":"are acquired by those big folks,"},{"speaker":"Kevin Mako","startTime":318.47,"endTime":320.99,"body":"right. So it really is a win win"},{"speaker":"Kevin Mako","startTime":320.99,"endTime":323.69,"body":"for the ecosystem. But the"},{"speaker":"Kevin Mako","startTime":320.99,"endTime":323.69,"body":"reality is, there's a lot"},{"speaker":"Kevin Mako","startTime":323.69,"endTime":326.87,"body":"different service offering"},{"speaker":"Kevin Mako","startTime":323.69,"endTime":326.87,"body":"required everything from how you"},{"speaker":"Kevin Mako","startTime":326.87,"endTime":329.0,"body":"actually structure, your design,"},{"speaker":"Kevin Mako","startTime":326.87,"endTime":329.0,"body":"the type of design work you do,"},{"speaker":"Kevin Mako","startTime":329.0,"endTime":331.61,"body":"the way you actually build out"},{"speaker":"Kevin Mako","startTime":329.0,"endTime":331.61,"body":"your models, the way you get"},{"speaker":"Kevin Mako","startTime":331.61,"endTime":334.04,"body":"into production, everything has"},{"speaker":"Kevin Mako","startTime":331.61,"endTime":334.04,"body":"to be efficient, cost effective,"},{"speaker":"Kevin Mako","startTime":334.04,"endTime":338.81,"body":"timely, etc. So that startup has"},{"speaker":"Kevin Mako","startTime":334.04,"endTime":338.81,"body":"has the best chance of success"},{"speaker":"Kevin Mako","startTime":338.81,"endTime":341.96,"body":"to actually get into the market"},{"speaker":"Kevin Mako","startTime":338.81,"endTime":341.96,"body":"and create a successful product"},{"speaker":"Kevin Mako","startTime":341.96,"endTime":345.62,"body":"business from just what starts"},{"speaker":"Kevin Mako","startTime":341.96,"endTime":345.62,"body":"usually as just an idea. Right?"},{"speaker":"Rafael Testai","startTime":346.01,"endTime":347.9,"body":"That was very"},{"speaker":"Rafael Testai","startTime":346.01,"endTime":347.9,"body":"well said, I have a feeling you"},{"speaker":"Rafael Testai","startTime":347.9,"endTime":350.78,"body":"said that more than once before."},{"speaker":"Rafael Testai","startTime":347.9,"endTime":350.78,"body":"It's like, can but very often"},{"speaker":"Rafael Testai","startTime":350.93,"endTime":352.46,"body":"you explain what you do, right?"},{"speaker":"Kevin Mako","startTime":352.79,"endTime":354.74,"body":"I've been talking"},{"speaker":"Kevin Mako","startTime":352.79,"endTime":354.74,"body":"about pretty much this for only"},{"speaker":"Kevin Mako","startTime":355.43,"endTime":359.39,"body":"just a mere 20 years, but still"},{"speaker":"Kevin Mako","startTime":355.43,"endTime":359.39,"body":"still learning every day."},{"speaker":"Rafael Testai","startTime":360.26,"endTime":362.84,"body":"Right on. So I'm"},{"speaker":"Rafael Testai","startTime":360.26,"endTime":362.84,"body":"trying to put the pieces"},{"speaker":"Rafael Testai","startTime":362.84,"endTime":366.29,"body":"together here. So you said this"},{"speaker":"Rafael Testai","startTime":362.84,"endTime":366.29,"body":"idea of  Mako Design and Invent"},{"speaker":"Rafael Testai","startTime":366.29,"endTime":370.07,"body":"started in Harvard's sister"},{"speaker":"Rafael Testai","startTime":366.29,"endTime":370.07,"body":"school in Canada. Is that right?"},{"speaker":"Kevin Mako","startTime":370.1,"endTime":372.56,"body":"Yeah, that's the"},{"speaker":"Kevin Mako","startTime":370.1,"endTime":372.56,"body":"Ivey Business School. So we do"},{"speaker":"Kevin Mako","startTime":372.56,"endTime":374.96,"body":"basically a third of their"},{"speaker":"Kevin Mako","startTime":372.56,"endTime":374.96,"body":"cases, Harvard is a third of our"},{"speaker":"Kevin Mako","startTime":374.96,"endTime":379.43,"body":"cases. So it's great because we"},{"speaker":"Kevin Mako","startTime":374.96,"endTime":379.43,"body":"get this international business"},{"speaker":"Kevin Mako","startTime":379.43,"endTime":382.01,"body":"education, but I'll tell you,"},{"speaker":"Kevin Mako","startTime":379.43,"endTime":382.01,"body":"the school of hard knocks is"},{"speaker":"Kevin Mako","startTime":382.01,"endTime":384.83,"body":"where you really learn to start"},{"speaker":"Kevin Mako","startTime":382.01,"endTime":384.83,"body":"a business. And that's why I"},{"speaker":"Kevin Mako","startTime":384.83,"endTime":389.75,"body":"incorporated halfway through"},{"speaker":"Kevin Mako","startTime":384.83,"endTime":389.75,"body":"university. In 2006, when I"},{"speaker":"Kevin Mako","startTime":389.75,"endTime":393.23,"body":"actually incorporated the"},{"speaker":"Kevin Mako","startTime":389.75,"endTime":393.23,"body":"business it was, that's when it"},{"speaker":"Kevin Mako","startTime":393.23,"endTime":395.99,"body":"really accelerated and then when"},{"speaker":"Kevin Mako","startTime":393.23,"endTime":395.99,"body":"I went into it full time,"},{"speaker":"Kevin Mako","startTime":396.98,"endTime":400.19,"body":"there's no education like, like,"},{"speaker":"Kevin Mako","startTime":396.98,"endTime":400.19,"body":"like the real world education."},{"speaker":"Kevin Mako","startTime":400.19,"endTime":403.31,"body":"And that's where that's where"},{"speaker":"Kevin Mako","startTime":400.19,"endTime":403.31,"body":"the where the belly of the beast"},{"speaker":"Kevin Mako","startTime":404.42,"endTime":407.39,"body":"became incredible, both from a"},{"speaker":"Kevin Mako","startTime":404.42,"endTime":407.39,"body":"learning perspective, but also"},{"speaker":"Kevin Mako","startTime":407.39,"endTime":410.09,"body":"building something that was"},{"speaker":"Kevin Mako","startTime":407.39,"endTime":410.09,"body":"truly valuable to hardware"},{"speaker":"Kevin Mako","startTime":410.09,"endTime":410.72,"body":"startups."},{"speaker":"Rafael Testai","startTime":411.08,"endTime":413.72,"body":"So the thing, I'm"},{"speaker":"Rafael Testai","startTime":411.08,"endTime":413.72,"body":"just my nature, ask a lot of"},{"speaker":"Rafael Testai","startTime":413.72,"endTime":417.41,"body":"questions. And that's maybe why"},{"speaker":"Rafael Testai","startTime":413.72,"endTime":417.41,"body":"being a co-host is a good thing"},{"speaker":"Rafael Testai","startTime":417.41,"endTime":421.34,"body":"for me. But I'm picturing myself"},{"speaker":"Rafael Testai","startTime":417.41,"endTime":421.34,"body":"being you are picturing someone"},{"speaker":"Rafael Testai","startTime":421.34,"endTime":425.09,"body":"very smart up and coming halfway"},{"speaker":"Rafael Testai","startTime":421.34,"endTime":425.09,"body":"through college. Like you said,"},{"speaker":"Rafael Testai","startTime":425.27,"endTime":427.25,"body":"you don't have all the answers."},{"speaker":"Rafael Testai","startTime":425.27,"endTime":427.25,"body":"No one does halfway through"},{"speaker":"Rafael Testai","startTime":427.25,"endTime":430.22,"body":"college. But you decided to"},{"speaker":"Rafael Testai","startTime":427.25,"endTime":430.22,"body":"start a company that provides"},{"speaker":"Rafael Testai","startTime":430.22,"endTime":433.61,"body":"the answers to inventors. And"},{"speaker":"Rafael Testai","startTime":430.22,"endTime":433.61,"body":"I'm thinking if I'm halfway"},{"speaker":"Rafael Testai","startTime":433.61,"endTime":436.4,"body":"through college, I probably"},{"speaker":"Rafael Testai","startTime":433.61,"endTime":436.4,"body":"don't know how to prototype and"},{"speaker":"Rafael Testai","startTime":436.4,"endTime":439.01,"body":"launch a product to market yet."},{"speaker":"Rafael Testai","startTime":436.4,"endTime":439.01,"body":"So how did you do that?"},{"speaker":"Kevin Mako","startTime":439.82,"endTime":444.02,"body":"Yeah, this whole"},{"speaker":"Kevin Mako","startTime":439.82,"endTime":444.02,"body":"thing stemmed because I had an"},{"speaker":"Kevin Mako","startTime":444.02,"endTime":446.78,"body":"invention idea. That's why I"},{"speaker":"Kevin Mako","startTime":444.02,"endTime":446.78,"body":"said back in high school, it was"},{"speaker":"Kevin Mako","startTime":446.78,"endTime":451.01,"body":"a ridiculous little invention"},{"speaker":"Kevin Mako","startTime":446.78,"endTime":451.01,"body":"idea. And, and I was just trying"},{"speaker":"Kevin Mako","startTime":451.01,"endTime":454.88,"body":"to figure out how to how to do"},{"speaker":"Kevin Mako","startTime":451.01,"endTime":454.88,"body":"something with it. That was"},{"speaker":"Kevin Mako","startTime":454.88,"endTime":460.37,"body":"really the foundation of the"},{"speaker":"Kevin Mako","startTime":454.88,"endTime":460.37,"body":"question that I asked. And, of"},{"speaker":"Kevin Mako","startTime":460.37,"endTime":464.63,"body":"course, I'm unmasking people, I"},{"speaker":"Kevin Mako","startTime":460.37,"endTime":464.63,"body":"know I'm doing as much research"},{"speaker":"Kevin Mako","startTime":464.63,"endTime":467.21,"body":"as I can. I'm reaching out to"},{"speaker":"Kevin Mako","startTime":464.63,"endTime":467.21,"body":"the different schools, all this"},{"speaker":"Kevin Mako","startTime":467.36,"endTime":471.68,"body":"stuff and finding it incredibly"},{"speaker":"Kevin Mako","startTime":467.36,"endTime":471.68,"body":"difficult just to find somebody"},{"speaker":"Kevin Mako","startTime":471.86,"endTime":476.18,"body":"even to pay for, that could just"},{"speaker":"Kevin Mako","startTime":471.86,"endTime":476.18,"body":"help me with getting this from"},{"speaker":"Kevin Mako","startTime":476.18,"endTime":481.07,"body":"this idea to an actual product"},{"speaker":"Kevin Mako","startTime":476.18,"endTime":481.07,"body":"business. And that was the Aha!"},{"speaker":"Kevin Mako","startTime":481.07,"endTime":483.35,"body":"moment. And what really"},{"speaker":"Kevin Mako","startTime":481.07,"endTime":483.35,"body":"triggered it for me is it when I"},{"speaker":"Kevin Mako","startTime":483.35,"endTime":486.92,"body":"was getting pretty serious about"},{"speaker":"Kevin Mako","startTime":483.35,"endTime":486.92,"body":"this in university, I started"},{"speaker":"Kevin Mako","startTime":486.92,"endTime":489.68,"body":"getting mentors that were in the"},{"speaker":"Kevin Mako","startTime":486.92,"endTime":489.68,"body":"design space. They're in the"},{"speaker":"Kevin Mako","startTime":489.68,"endTime":492.74,"body":"marketing space. They're in the"},{"speaker":"Kevin Mako","startTime":489.68,"endTime":492.74,"body":"branding space of big products."},{"speaker":"Kevin Mako","startTime":493.19,"endTime":496.58,"body":"And basically, unanimously, all"},{"speaker":"Kevin Mako","startTime":493.19,"endTime":496.58,"body":"of them told me, 'What you can't"},{"speaker":"Kevin Mako","startTime":496.58,"endTime":501.23,"body":"do great, you can't build a"},{"speaker":"Kevin Mako","startTime":496.58,"endTime":501.23,"body":"great design firm that works"},{"speaker":"Kevin Mako","startTime":501.23,"endTime":504.89,"body":"with startups. In fact, great"},{"speaker":"Kevin Mako","startTime":501.23,"endTime":504.89,"body":"design firms avoid startups"},{"speaker":"Kevin Mako","startTime":504.92,"endTime":509.66,"body":"avoid inventors like the plague."},{"speaker":"Kevin Mako","startTime":504.92,"endTime":509.66,"body":"I mean, they'll do if they have"},{"speaker":"Kevin Mako","startTime":509.69,"endTime":512.24,"body":"massive budgets, yeah, they'll"},{"speaker":"Kevin Mako","startTime":509.69,"endTime":512.24,"body":"take them on, they'll throw"},{"speaker":"Kevin Mako","startTime":512.24,"endTime":515.48,"body":"junior team at them wherever"},{"speaker":"Kevin Mako","startTime":512.24,"endTime":515.48,"body":"else. And they'll they'll accept"},{"speaker":"Kevin Mako","startTime":515.48,"endTime":518.87,"body":"your money, but they're not"},{"speaker":"Kevin Mako","startTime":515.48,"endTime":518.87,"body":"built for them. They, they they"},{"speaker":"Kevin Mako","startTime":518.87,"endTime":521.51,"body":"try and avoid them as much as"},{"speaker":"Kevin Mako","startTime":518.87,"endTime":521.51,"body":"possible. They don't provide"},{"speaker":"Kevin Mako","startTime":521.51,"endTime":524.84,"body":"really much help outside of like"},{"speaker":"Kevin Mako","startTime":521.51,"endTime":524.84,"body":"a very core service offering,"},{"speaker":"Kevin Mako","startTime":525.05,"endTime":527.66,"body":"whether it's in connections or"},{"speaker":"Kevin Mako","startTime":525.05,"endTime":527.66,"body":"even education or whatever"},{"speaker":"Kevin Mako","startTime":527.66,"endTime":531.8,"body":"else.' And they said so so"},{"speaker":"Kevin Mako","startTime":527.66,"endTime":531.8,"body":"unless you need the money you"},{"speaker":"Kevin Mako","startTime":531.8,"endTime":534.08,"body":"use inventors is kind of a"},{"speaker":"Kevin Mako","startTime":531.8,"endTime":534.08,"body":"stepping stone to then get to"},{"speaker":"Kevin Mako","startTime":534.08,"endTime":538.4,"body":"those big fortune 500 revolving"},{"speaker":"Kevin Mako","startTime":534.08,"endTime":538.4,"body":"customers. That was when I knew"},{"speaker":"Kevin Mako","startTime":538.4,"endTime":542.0,"body":"I was like, there's something"},{"speaker":"Kevin Mako","startTime":538.4,"endTime":542.0,"body":"really magical here, because"},{"speaker":"Kevin Mako","startTime":542.03,"endTime":546.98,"body":"this entire massive market is"},{"speaker":"Kevin Mako","startTime":542.03,"endTime":546.98,"body":"completely untapped. And so much"},{"speaker":"Kevin Mako","startTime":546.98,"endTime":549.83,"body":"of innovation is happening on"},{"speaker":"Kevin Mako","startTime":546.98,"endTime":549.83,"body":"the ground from real users, real"},{"speaker":"Kevin Mako","startTime":549.83,"endTime":552.74,"body":"people with those aha moments."},{"speaker":"Kevin Mako","startTime":549.83,"endTime":552.74,"body":"There's like this massive"},{"speaker":"Kevin Mako","startTime":552.74,"endTime":556.64,"body":"missing gap between them and a"},{"speaker":"Kevin Mako","startTime":552.74,"endTime":556.64,"body":"successful product. Of course,"},{"speaker":"Kevin Mako","startTime":556.64,"endTime":559.49,"body":"this was all before the crazy"},{"speaker":"Kevin Mako","startTime":556.64,"endTime":559.49,"body":"Kickstarter, Indiegogo"},{"speaker":"Kevin Mako","startTime":559.49,"endTime":563.24,"body":"revolution, students incubation,"},{"speaker":"Kevin Mako","startTime":559.49,"endTime":563.24,"body":"student hardware startups,"},{"speaker":"Kevin Mako","startTime":563.24,"endTime":569.15,"body":"accelerator centers, incubation"},{"speaker":"Kevin Mako","startTime":563.24,"endTime":569.15,"body":"centers, etc. They took a took a"},{"speaker":"Kevin Mako","startTime":569.15,"endTime":573.68,"body":"massive expansion worldwide. So"},{"speaker":"Kevin Mako","startTime":569.15,"endTime":573.68,"body":"of course, us starting,"},{"speaker":"Kevin Mako","startTime":573.83,"endTime":576.41,"body":"pioneering this concept of"},{"speaker":"Kevin Mako","startTime":573.83,"endTime":576.41,"body":"global caliber design to the"},{"speaker":"Kevin Mako","startTime":576.41,"endTime":580.22,"body":"small folks fell very nicely in"},{"speaker":"Kevin Mako","startTime":576.41,"endTime":580.22,"body":"line with his massive"},{"speaker":"Kevin Mako","startTime":580.25,"endTime":583.4,"body":"entrepreneurial revolution that"},{"speaker":"Kevin Mako","startTime":580.25,"endTime":583.4,"body":"happened over the next 15 years"},{"speaker":"Kevin Mako","startTime":583.4,"endTime":586.13,"body":"to where we are today. And it's"},{"speaker":"Kevin Mako","startTime":583.4,"endTime":586.13,"body":"still growing like crazy, right?"},{"speaker":"Rafael Testai","startTime":586.34,"endTime":588.62,"body":"So basically,"},{"speaker":"Rafael Testai","startTime":586.34,"endTime":588.62,"body":"don't tell Kevin, he can't do"},{"speaker":"Rafael Testai","startTime":588.62,"endTime":589.04,"body":"something."},{"speaker":"Kevin Mako","startTime":589.73,"endTime":590.24,"body":"Yes."},{"speaker":"Rafael Testai","startTime":590.45,"endTime":591.38,"body":"He'll go out"},{"speaker":"Rafael Testai","startTime":590.45,"endTime":591.38,"body":"there and do it."},{"speaker":"Kevin Mako","startTime":591.62,"endTime":594.62,"body":"Yeah, I know what"},{"speaker":"Kevin Mako","startTime":591.62,"endTime":594.62,"body":"they were saying. It was a tough"},{"speaker":"Kevin Mako","startTime":594.62,"endTime":598.04,"body":"ride. In the early days, though."},{"speaker":"Kevin Mako","startTime":594.62,"endTime":598.04,"body":"I mean, three or four times, we"},{"speaker":"Kevin Mako","startTime":598.04,"endTime":600.83,"body":"were we are to that to the"},{"speaker":"Kevin Mako","startTime":598.04,"endTime":600.83,"body":"hairline. going bankrupt,"},{"speaker":"Kevin Mako","startTime":600.83,"endTime":603.2,"body":"because every time I had no"},{"speaker":"Kevin Mako","startTime":600.83,"endTime":603.2,"body":"investors, no debt, no"},{"speaker":"Kevin Mako","startTime":603.2,"endTime":605.99,"body":"financing. So every time we"},{"speaker":"Kevin Mako","startTime":603.2,"endTime":605.99,"body":"wanted, we're starting to make"},{"speaker":"Kevin Mako","startTime":605.99,"endTime":607.67,"body":"some money. And I said,"},{"speaker":"Kevin Mako","startTime":605.99,"endTime":607.67,"body":"'Alright, I want to grow, I"},{"speaker":"Kevin Mako","startTime":607.67,"endTime":609.68,"body":"really want to scale this"},{"speaker":"Kevin Mako","startTime":607.67,"endTime":609.68,"body":"model,' I had to risk"},{"speaker":"Kevin Mako","startTime":609.68,"endTime":612.8,"body":"everything. I had to put all"},{"speaker":"Kevin Mako","startTime":609.68,"endTime":612.8,"body":"that money back in and reinvest"},{"speaker":"Kevin Mako","startTime":612.83,"endTime":615.59,"body":"over and over and over again,"},{"speaker":"Kevin Mako","startTime":612.83,"endTime":615.59,"body":"every time we wanted to scale."},{"speaker":"Kevin Mako","startTime":615.92,"endTime":619.55,"body":"So I don't do much of that"},{"speaker":"Kevin Mako","startTime":615.92,"endTime":619.55,"body":"anymore. We grow slow and steady"},{"speaker":"Kevin Mako","startTime":619.55,"endTime":622.85,"body":"down through profits only. But"},{"speaker":"Kevin Mako","startTime":619.55,"endTime":622.85,"body":"back in the day, yeah, it was it"},{"speaker":"Kevin Mako","startTime":622.85,"endTime":624.65,"body":"was an all or nothing game,"},{"speaker":"Kevin Mako","startTime":622.85,"endTime":624.65,"body":"basically, through my entire"},{"speaker":"Kevin Mako","startTime":624.68,"endTime":625.25,"body":"20s."},{"speaker":"Rafael Testai","startTime":670.1400000000001,"endTime":672.0899999999999,"body":"Yeah, I've been a"},{"speaker":"Rafael Testai","startTime":670.1400000000001,"endTime":672.0899999999999,"body":"business owner myself three"},{"speaker":"Rafael Testai","startTime":672.0899999999999,"endTime":675.4200000000001,"body":"times already, I launched a"},{"speaker":"Rafael Testai","startTime":672.0899999999999,"endTime":675.4200000000001,"body":"mobile application, and I sold"},{"speaker":"Rafael Testai","startTime":675.4200000000001,"endTime":678.75,"body":"it and have a couple other"},{"speaker":"Rafael Testai","startTime":675.4200000000001,"endTime":678.75,"body":"businesses in college. But when"},{"speaker":"Rafael Testai","startTime":678.78,"endTime":681.8399999999999,"body":"when people think about the"},{"speaker":"Rafael Testai","startTime":678.78,"endTime":681.8399999999999,"body":"leader of the company, and why"},{"speaker":"Rafael Testai","startTime":681.8399999999999,"endTime":684.69,"body":"they get paid so much, it"},{"speaker":"Rafael Testai","startTime":681.8399999999999,"endTime":684.69,"body":"actually makes sense to me,"},{"speaker":"Rafael Testai","startTime":684.69,"endTime":689.3699999999999,"body":"because they put all the risk"},{"speaker":"Rafael Testai","startTime":684.69,"endTime":689.3699999999999,"body":"upfront. And so congratulations"},{"speaker":"Rafael Testai","startTime":689.4000000000001,"endTime":690.9300000000001,"body":"for that"},{"speaker":"Kevin Mako","startTime":691.26,"endTime":695.19,"body":"I've never missed"},{"speaker":"Kevin Mako","startTime":691.26,"endTime":695.19,"body":"paying a staff payroll. And I"},{"speaker":"Kevin Mako","startTime":695.19,"endTime":697.77,"body":"have numerous times missed"},{"speaker":"Kevin Mako","startTime":695.19,"endTime":697.77,"body":"paying myself sometimes from"},{"speaker":"Kevin Mako","startTime":697.77,"endTime":702.27,"body":"months on end, it's it really"},{"speaker":"Kevin Mako","startTime":697.77,"endTime":702.27,"body":"it's one of those things where,"},{"speaker":"Kevin Mako","startTime":702.8699999999999,"endTime":706.05,"body":"yeah, when times are good, it's"},{"speaker":"Kevin Mako","startTime":702.8699999999999,"endTime":706.05,"body":"fantastic as a business owner,"},{"speaker":"Kevin Mako","startTime":706.05,"endTime":709.47,"body":"but when times are tough, or if"},{"speaker":"Kevin Mako","startTime":706.05,"endTime":709.47,"body":"you're really trying to, elevate"},{"speaker":"Kevin Mako","startTime":709.47,"endTime":712.1400000000001,"body":"to the next level, and put"},{"speaker":"Kevin Mako","startTime":709.47,"endTime":712.1400000000001,"body":"everything you've got on the"},{"speaker":"Kevin Mako","startTime":712.1400000000001,"endTime":716.94,"body":"line. Yeah, it creates, creates"},{"speaker":"Kevin Mako","startTime":712.1400000000001,"endTime":716.94,"body":"a difficult environment. So I"},{"speaker":"Kevin Mako","startTime":716.94,"endTime":720.3599999999999,"body":"understand some of the"},{"speaker":"Kevin Mako","startTime":716.94,"endTime":720.3599999999999,"body":"methodologies behind the folks"},{"speaker":"Kevin Mako","startTime":720.3599999999999,"endTime":722.76,"body":"that were essentially convincing"},{"speaker":"Kevin Mako","startTime":720.3599999999999,"endTime":722.76,"body":"me just to go get the investment"},{"speaker":"Kevin Mako","startTime":722.76,"endTime":728.8800000000001,"body":"banking or management consulting"},{"speaker":"Kevin Mako","startTime":722.76,"endTime":728.8800000000001,"body":"job and had pay my pay my bills"},{"speaker":"Kevin Mako","startTime":728.8800000000001,"endTime":732.9300000000001,"body":"and keep it simple like that."},{"speaker":"Kevin Mako","startTime":728.8800000000001,"endTime":732.9300000000001,"body":"But it was something that I at"},{"speaker":"Kevin Mako","startTime":732.9300000000001,"endTime":735.6600000000001,"body":"least wanted to try. And I"},{"speaker":"Kevin Mako","startTime":732.9300000000001,"endTime":735.6600000000001,"body":"always thought that, if I"},{"speaker":"Kevin Mako","startTime":735.6600000000001,"endTime":739.98,"body":"totally fail and go bust, then"},{"speaker":"Kevin Mako","startTime":735.6600000000001,"endTime":739.98,"body":"then I'll hopefully beg for some"},{"speaker":"Kevin Mako","startTime":739.98,"endTime":744.1500000000001,"body":"jobs, somebody to take in this"},{"speaker":"Kevin Mako","startTime":739.98,"endTime":744.1500000000001,"body":"this, failed entrepreneur back"},{"speaker":"Kevin Mako","startTime":744.1500000000001,"endTime":747.9300000000001,"body":"into the system. And, and try"},{"speaker":"Kevin Mako","startTime":744.1500000000001,"endTime":747.9300000000001,"body":"again, another day, right. So it"},{"speaker":"Kevin Mako","startTime":747.9300000000001,"endTime":751.5899999999999,"body":"really the doom and gloom of"},{"speaker":"Kevin Mako","startTime":747.9300000000001,"endTime":751.5899999999999,"body":"failure, it was always there,"},{"speaker":"Kevin Mako","startTime":751.5899999999999,"endTime":754.5899999999999,"body":"especially in the early days,"},{"speaker":"Kevin Mako","startTime":751.5899999999999,"endTime":754.5899999999999,"body":"but I never let it deter me from"},{"speaker":"Kevin Mako","startTime":754.5899999999999,"endTime":756.9300000000001,"body":"trying my best to really build"},{"speaker":"Kevin Mako","startTime":754.5899999999999,"endTime":756.9300000000001,"body":"something amazing that I"},{"speaker":"Kevin Mako","startTime":756.9300000000001,"endTime":757.5,"body":"believed in."},{"speaker":"Rafael Testai","startTime":758.28,"endTime":760.77,"body":"Excellent. So as"},{"speaker":"Rafael Testai","startTime":758.28,"endTime":760.77,"body":"our listeners are listening to"},{"speaker":"Rafael Testai","startTime":760.77,"endTime":763.53,"body":"this, they're probably wondering"},{"speaker":"Rafael Testai","startTime":760.77,"endTime":763.53,"body":"what I'm wondering, they've"},{"speaker":"Rafael Testai","startTime":763.53,"endTime":766.5,"body":"heard people are involved in the"},{"speaker":"Rafael Testai","startTime":763.53,"endTime":766.5,"body":"world of product design,"},{"speaker":"Rafael Testai","startTime":766.5,"endTime":770.8199999999999,"body":"mechanical design engineer like"},{"speaker":"Rafael Testai","startTime":766.5,"endTime":770.8199999999999,"body":"myself, we wonder how did you"},{"speaker":"Rafael Testai","startTime":770.8199999999999,"endTime":773.9100000000001,"body":"make it work, because everything"},{"speaker":"Rafael Testai","startTime":770.8199999999999,"endTime":773.9100000000001,"body":"that you said is true, based on"},{"speaker":"Rafael Testai","startTime":773.9100000000001,"endTime":777.69,"body":"my experience, about that"},{"speaker":"Rafael Testai","startTime":773.9100000000001,"endTime":777.69,"body":"segment of the marketplace that"},{"speaker":"Rafael Testai","startTime":777.69,"endTime":780.54,"body":"you're going after the inventors"},{"speaker":"Rafael Testai","startTime":777.69,"endTime":780.54,"body":"that I'm just going to recap"},{"speaker":"Rafael Testai","startTime":780.54,"endTime":783.96,"body":"here, they usually tend to not"},{"speaker":"Rafael Testai","startTime":780.54,"endTime":783.96,"body":"have a lot of money to develop"},{"speaker":"Rafael Testai","startTime":783.96,"endTime":786.6300000000001,"body":"their ideas. And it's very"},{"speaker":"Rafael Testai","startTime":783.96,"endTime":786.6300000000001,"body":"expensive to develop tangible"},{"speaker":"Rafael Testai","startTime":786.6300000000001,"endTime":790.1400000000001,"body":"products hardware. And then"},{"speaker":"Rafael Testai","startTime":786.6300000000001,"endTime":790.1400000000001,"body":"secondly, they first time"},{"speaker":"Rafael Testai","startTime":790.1400000000001,"endTime":793.44,"body":"founders don't really understand"},{"speaker":"Rafael Testai","startTime":790.1400000000001,"endTime":793.44,"body":"how difficult it is to bring an"},{"speaker":"Rafael Testai","startTime":793.44,"endTime":797.0999999999999,"body":"idea to market. So you have to"},{"speaker":"Rafael Testai","startTime":793.44,"endTime":797.0999999999999,"body":"basically educate them half of"},{"speaker":"Rafael Testai","startTime":797.0999999999999,"endTime":800.3399999999999,"body":"the way. So can you please shed"},{"speaker":"Rafael Testai","startTime":797.0999999999999,"endTime":800.3399999999999,"body":"some light on that? How did this"},{"speaker":"Rafael Testai","startTime":800.3399999999999,"endTime":801.69,"body":"market work for you?"},{"speaker":"Kevin Mako","startTime":801.96,"endTime":804.6600000000001,"body":"For sure, I'll say"},{"speaker":"Kevin Mako","startTime":801.96,"endTime":804.6600000000001,"body":"still to today, talking just"},{"speaker":"Kevin Mako","startTime":804.6600000000001,"endTime":806.5799999999999,"body":"strictly about money will go"},{"speaker":"Kevin Mako","startTime":804.6600000000001,"endTime":806.5799999999999,"body":"into a few other things that can"},{"speaker":"Kevin Mako","startTime":806.5799999999999,"endTime":810.6300000000001,"body":"help with this too. But strictly"},{"speaker":"Kevin Mako","startTime":806.5799999999999,"endTime":810.6300000000001,"body":"talking about money, I would say"},{"speaker":"Kevin Mako","startTime":810.6300000000001,"endTime":813.51,"body":"still, most of our clients don't"},{"speaker":"Kevin Mako","startTime":810.6300000000001,"endTime":813.51,"body":"have the funding to go all the"},{"speaker":"Kevin Mako","startTime":813.51,"endTime":815.76,"body":"way through into their first"},{"speaker":"Kevin Mako","startTime":813.51,"endTime":815.76,"body":"production round and onto store"},{"speaker":"Kevin Mako","startTime":815.76,"endTime":820.23,"body":"shelves themselves. But they"},{"speaker":"Kevin Mako","startTime":815.76,"endTime":820.23,"body":"don't need to, because it's very"},{"speaker":"Kevin Mako","startTime":820.23,"endTime":823.1700000000001,"body":"much a stepping stone approach."},{"speaker":"Kevin Mako","startTime":820.23,"endTime":823.1700000000001,"body":"For those who do have the"},{"speaker":"Kevin Mako","startTime":823.1700000000001,"endTime":825.06,"body":"funding. That's great. That's"},{"speaker":"Kevin Mako","startTime":823.1700000000001,"endTime":825.06,"body":"amazing, right, you can get to"},{"speaker":"Kevin Mako","startTime":825.06,"endTime":827.28,"body":"production, then you can test"},{"speaker":"Kevin Mako","startTime":825.06,"endTime":827.28,"body":"market and then scale and grow"},{"speaker":"Kevin Mako","startTime":827.28,"endTime":830.4300000000001,"body":"from there. But for those who"},{"speaker":"Kevin Mako","startTime":827.28,"endTime":830.4300000000001,"body":"don't have the funding, keep in"},{"speaker":"Kevin Mako","startTime":830.4300000000001,"endTime":833.4000000000001,"body":"mind that the brilliant thing"},{"speaker":"Kevin Mako","startTime":830.4300000000001,"endTime":833.4000000000001,"body":"about hardware, especially once"},{"speaker":"Kevin Mako","startTime":833.4000000000001,"endTime":836.97,"body":"you get to that physical,"},{"speaker":"Kevin Mako","startTime":833.4000000000001,"endTime":836.97,"body":"tangible prototype, starting"},{"speaker":"Kevin Mako","startTime":836.97,"endTime":838.8299999999999,"body":"obviously, with your rougher"},{"speaker":"Kevin Mako","startTime":836.97,"endTime":838.8299999999999,"body":"prototypes, and then getting"},{"speaker":"Kevin Mako","startTime":838.8299999999999,"endTime":842.49,"body":"into like your more refined"},{"speaker":"Kevin Mako","startTime":838.8299999999999,"endTime":842.49,"body":"presentation, more fully"},{"speaker":"Kevin Mako","startTime":842.49,"endTime":845.1300000000001,"body":"functional prototypes, maybe"},{"speaker":"Kevin Mako","startTime":842.49,"endTime":845.1300000000001,"body":"even pre production. Well,"},{"speaker":"Kevin Mako","startTime":845.1300000000001,"endTime":847.6500000000001,"body":"that's where now all these new"},{"speaker":"Kevin Mako","startTime":845.1300000000001,"endTime":847.6500000000001,"body":"avenues are opening up, we even"},{"speaker":"Kevin Mako","startTime":847.6500000000001,"endTime":849.69,"body":"look at crowdfunding, which has"},{"speaker":"Kevin Mako","startTime":847.6500000000001,"endTime":849.69,"body":"now been around for years."},{"speaker":"Kevin Mako","startTime":850.0799999999999,"endTime":855.3,"body":"That's an amazing little bridge,"},{"speaker":"Kevin Mako","startTime":850.0799999999999,"endTime":855.3,"body":"basically between a prototype"},{"speaker":"Kevin Mako","startTime":855.3,"endTime":858.69,"body":"that's well thought out and"},{"speaker":"Kevin Mako","startTime":855.3,"endTime":858.69,"body":"paying for production. It"},{"speaker":"Kevin Mako","startTime":858.69,"endTime":861.24,"body":"bridges the gap, right. So once"},{"speaker":"Kevin Mako","startTime":858.69,"endTime":861.24,"body":"you've got the prototype, you go"},{"speaker":"Kevin Mako","startTime":861.24,"endTime":865.1400000000001,"body":"to crowdfunding, you, you raise"},{"speaker":"Kevin Mako","startTime":861.24,"endTime":865.1400000000001,"body":"your first funding round from"},{"speaker":"Kevin Mako","startTime":865.1400000000001,"endTime":867.75,"body":"from basically people who are"},{"speaker":"Kevin Mako","startTime":865.1400000000001,"endTime":867.75,"body":"pre purchasing product months"},{"speaker":"Kevin Mako","startTime":867.75,"endTime":870.8699999999999,"body":"and months in advance, you use"},{"speaker":"Kevin Mako","startTime":867.75,"endTime":870.8699999999999,"body":"that funding then to essentially"},{"speaker":"Kevin Mako","startTime":870.8699999999999,"endTime":874.2,"body":"pay for your production run. But"},{"speaker":"Kevin Mako","startTime":870.8699999999999,"endTime":874.2,"body":"there's also investment rounds"},{"speaker":"Kevin Mako","startTime":874.2,"endTime":877.6199999999999,"body":"that are happening and"},{"speaker":"Kevin Mako","startTime":874.2,"endTime":877.6199999999999,"body":"incubation age, even things like"},{"speaker":"Kevin Mako","startTime":877.6199999999999,"endTime":880.02,"body":"the college and university level"},{"speaker":"Kevin Mako","startTime":877.6199999999999,"endTime":880.02,"body":"stuff that never existed when I"},{"speaker":"Kevin Mako","startTime":880.02,"endTime":883.23,"body":"was around. There's now if you"},{"speaker":"Kevin Mako","startTime":880.02,"endTime":883.23,"body":"look at most of the colleges and"},{"speaker":"Kevin Mako","startTime":883.23,"endTime":887.3399999999999,"body":"universities around the world,"},{"speaker":"Kevin Mako","startTime":883.23,"endTime":887.3399999999999,"body":"there's generally incubation"},{"speaker":"Kevin Mako","startTime":887.3399999999999,"endTime":890.31,"body":"programs built right into them."},{"speaker":"Kevin Mako","startTime":887.3399999999999,"endTime":890.31,"body":"Some even with funding these"},{"speaker":"Kevin Mako","startTime":890.31,"endTime":894.51,"body":"days. So as you hit certain"},{"speaker":"Kevin Mako","startTime":890.31,"endTime":894.51,"body":"milestones, the university or"},{"speaker":"Kevin Mako","startTime":894.51,"endTime":897.51,"body":"sponsors of the programs or"},{"speaker":"Kevin Mako","startTime":894.51,"endTime":897.51,"body":"whatever else will start paying"},{"speaker":"Kevin Mako","startTime":898.8900000000001,"endTime":902.19,"body":"for small investments, and when"},{"speaker":"Kevin Mako","startTime":898.8900000000001,"endTime":902.19,"body":"you hit that, a certain set of"},{"speaker":"Kevin Mako","startTime":902.19,"endTime":904.0799999999999,"body":"criteria, as you get a little"},{"speaker":"Kevin Mako","startTime":902.19,"endTime":904.0799999999999,"body":"bit bigger one, it can start"},{"speaker":"Kevin Mako","startTime":904.1700000000001,"endTime":907.3199999999999,"body":"like a couple grand, up to 10"},{"speaker":"Kevin Mako","startTime":904.1700000000001,"endTime":907.3199999999999,"body":"grand and the 50, grand and so"},{"speaker":"Kevin Mako","startTime":907.3199999999999,"endTime":911.6099999999999,"body":"on. But then that leads you into"},{"speaker":"Kevin Mako","startTime":907.3199999999999,"endTime":911.6099999999999,"body":"a whole range of different"},{"speaker":"Kevin Mako","startTime":911.6099999999999,"endTime":914.6099999999999,"body":"investment opportunities now,"},{"speaker":"Kevin Mako","startTime":911.6099999999999,"endTime":914.6099999999999,"body":"like angel investment groups,"},{"speaker":"Kevin Mako","startTime":914.6400000000001,"endTime":918.21,"body":"which there's many of or even"},{"speaker":"Kevin Mako","startTime":914.6400000000001,"endTime":918.21,"body":"looking at small seed groups,"},{"speaker":"Kevin Mako","startTime":918.21,"endTime":920.7,"body":"which then leads into venture"},{"speaker":"Kevin Mako","startTime":918.21,"endTime":920.7,"body":"capital financing and all that."},{"speaker":"Kevin Mako","startTime":920.7,"endTime":924.4200000000001,"body":"So if you have a great idea, and"},{"speaker":"Kevin Mako","startTime":920.7,"endTime":924.4200000000001,"body":"you have the persistence to do"},{"speaker":"Kevin Mako","startTime":924.4200000000001,"endTime":926.73,"body":"what you can to get it to the"},{"speaker":"Kevin Mako","startTime":924.4200000000001,"endTime":926.73,"body":"next level, whatever that next"},{"speaker":"Kevin Mako","startTime":926.73,"endTime":930.48,"body":"level might be, then generally"},{"speaker":"Kevin Mako","startTime":926.73,"endTime":930.48,"body":"there's somebody out there"},{"speaker":"Kevin Mako","startTime":930.48,"endTime":934.77,"body":"somewhere who will help you fund"},{"speaker":"Kevin Mako","startTime":930.48,"endTime":934.77,"body":"it to the next level. And not"},{"speaker":"Kevin Mako","startTime":934.77,"endTime":937.8,"body":"saying it's easy. It's certainly"},{"speaker":"Kevin Mako","startTime":934.77,"endTime":937.8,"body":"it's a bit of a battlefield. But"},{"speaker":"Kevin Mako","startTime":937.8,"endTime":942.3900000000001,"body":"the reality of today versus even"},{"speaker":"Kevin Mako","startTime":937.8,"endTime":942.3900000000001,"body":"10 years ago, is that there's"},{"speaker":"Kevin Mako","startTime":942.4200000000001,"endTime":945.78,"body":"even I think about like"},{"speaker":"Kevin Mako","startTime":942.4200000000001,"endTime":945.78,"body":"incubation maker spaces,"},{"speaker":"Kevin Mako","startTime":945.81,"endTime":949.2,"body":"incubators themselves,"},{"speaker":"Kevin Mako","startTime":945.81,"endTime":949.2,"body":"incubation programs. I remember"},{"speaker":"Kevin Mako","startTime":949.2,"endTime":952.8599999999999,"body":"seeing one thing that they"},{"speaker":"Kevin Mako","startTime":949.2,"endTime":952.8599999999999,"body":"predicted there's 100 times more"},{"speaker":"Kevin Mako","startTime":952.8900000000001,"endTime":955.8,"body":"incubation, entrepreneurial"},{"speaker":"Kevin Mako","startTime":952.8900000000001,"endTime":955.8,"body":"incubation centers and co"},{"speaker":"Kevin Mako","startTime":955.8,"endTime":959.79,"body":"working spaces than there were"},{"speaker":"Kevin Mako","startTime":955.8,"endTime":959.79,"body":"20 years ago today. Right now,"},{"speaker":"Kevin Mako","startTime":959.8199999999999,"endTime":962.25,"body":"let's talk about hardware"},{"speaker":"Kevin Mako","startTime":959.8199999999999,"endTime":962.25,"body":"specifically for a second,"},{"speaker":"Kevin Mako","startTime":962.25,"endTime":964.44,"body":"because what's really"},{"speaker":"Kevin Mako","startTime":962.25,"endTime":964.44,"body":"interesting in terms of the"},{"speaker":"Kevin Mako","startTime":964.44,"endTime":967.77,"body":"technology is it is becoming"},{"speaker":"Kevin Mako","startTime":964.44,"endTime":967.77,"body":"much more efficient to actually"},{"speaker":"Kevin Mako","startTime":967.77,"endTime":971.55,"body":"get a product to production. So"},{"speaker":"Kevin Mako","startTime":967.77,"endTime":971.55,"body":"you have things like all of our"},{"speaker":"Kevin Mako","startTime":971.55,"endTime":976.26,"body":"CAD tools, FEA testing, etc,"},{"speaker":"Kevin Mako","startTime":971.55,"endTime":976.26,"body":"that make it that allow us to"},{"speaker":"Kevin Mako","startTime":976.26,"endTime":979.3199999999999,"body":"essentially do a lot more design"},{"speaker":"Kevin Mako","startTime":976.26,"endTime":979.3199999999999,"body":"and engineering upfront without"},{"speaker":"Kevin Mako","startTime":979.3199999999999,"endTime":982.8299999999999,"body":"spending crazy dollars on"},{"speaker":"Kevin Mako","startTime":979.3199999999999,"endTime":982.8299999999999,"body":"multiple rounds of prototyping"},{"speaker":"Kevin Mako","startTime":982.8299999999999,"endTime":986.4000000000001,"body":"and testing. So that you can get"},{"speaker":"Kevin Mako","startTime":982.8299999999999,"endTime":986.4000000000001,"body":"to a quality finished product"},{"speaker":"Kevin Mako","startTime":986.4000000000001,"endTime":989.1600000000001,"body":"faster. That's not a perfect"},{"speaker":"Kevin Mako","startTime":986.4000000000001,"endTime":989.1600000000001,"body":"science, there's still always as"},{"speaker":"Kevin Mako","startTime":989.1600000000001,"endTime":991.8,"body":"a hardware element to almost"},{"speaker":"Kevin Mako","startTime":989.1600000000001,"endTime":991.8,"body":"everything, but it's reducing"},{"speaker":"Kevin Mako","startTime":991.8,"endTime":994.9200000000001,"body":"the cost, the time to market,"},{"speaker":"Kevin Mako","startTime":991.8,"endTime":994.9200000000001,"body":"the amount of mistakes, etc. As"},{"speaker":"Kevin Mako","startTime":995.0999999999999,"endTime":998.1300000000001,"body":"the technology around CAD"},{"speaker":"Kevin Mako","startTime":995.0999999999999,"endTime":998.1300000000001,"body":"software is improving. So is"},{"speaker":"Kevin Mako","startTime":998.1300000000001,"endTime":1001.0999999999999,"body":"that efficiency to actually get"},{"speaker":"Kevin Mako","startTime":998.1300000000001,"endTime":1001.0999999999999,"body":"a great product out there. Even"},{"speaker":"Kevin Mako","startTime":1001.0999999999999,"endTime":1003.23,"body":"things like on the electronics"},{"speaker":"Kevin Mako","startTime":1001.0999999999999,"endTime":1003.23,"body":"level, where you've got all"},{"speaker":"Kevin Mako","startTime":1003.23,"endTime":1005.9300000000001,"body":"sorts of essentially Lego block"},{"speaker":"Kevin Mako","startTime":1003.23,"endTime":1005.9300000000001,"body":"methods where you can just plug"},{"speaker":"Kevin Mako","startTime":1005.9300000000001,"endTime":1009.56,"body":"and play technology. Now, you"},{"speaker":"Kevin Mako","startTime":1005.9300000000001,"endTime":1009.56,"body":"can use off the shelf coding,"},{"speaker":"Kevin Mako","startTime":1009.56,"endTime":1012.29,"body":"it's very much like websites 20"},{"speaker":"Kevin Mako","startTime":1009.56,"endTime":1012.29,"body":"years ago, he basically had to"},{"speaker":"Kevin Mako","startTime":1012.29,"endTime":1015.44,"body":"be an HTML coder, today, you can"},{"speaker":"Kevin Mako","startTime":1012.29,"endTime":1015.44,"body":"just drag and drop blocks,"},{"speaker":"Kevin Mako","startTime":1015.5899999999999,"endTime":1018.3800000000001,"body":"right. So this thing is now"},{"speaker":"Kevin Mako","startTime":1015.5899999999999,"endTime":1018.3800000000001,"body":"following the software trend,"},{"speaker":"Kevin Mako","startTime":1018.3800000000001,"endTime":1021.05,"body":"but also in hardware. So it's"},{"speaker":"Kevin Mako","startTime":1018.3800000000001,"endTime":1021.05,"body":"making it easier and faster to"},{"speaker":"Kevin Mako","startTime":1021.05,"endTime":1024.38,"body":"get to market. Now we talk about"},{"speaker":"Kevin Mako","startTime":1021.05,"endTime":1024.38,"body":"what's really happening now, but"},{"speaker":"Kevin Mako","startTime":1024.38,"endTime":1026.75,"body":"also for the next 5 or 10 years,"},{"speaker":"Kevin Mako","startTime":1024.38,"endTime":1026.75,"body":"which is going to be really"},{"speaker":"Kevin Mako","startTime":1026.75,"endTime":1030.74,"body":"incredible is local short run"},{"speaker":"Kevin Mako","startTime":1026.75,"endTime":1030.74,"body":"additive manufacturing, being"},{"speaker":"Kevin Mako","startTime":1030.74,"endTime":1036.8,"body":"able to manufacture 50, 100, 500"},{"speaker":"Kevin Mako","startTime":1030.74,"endTime":1036.8,"body":"units of your product to test in"},{"speaker":"Kevin Mako","startTime":1036.8,"endTime":1040.46,"body":"the market to get real users"},{"speaker":"Kevin Mako","startTime":1036.8,"endTime":1040.46,"body":"buying it before then tooling"},{"speaker":"Kevin Mako","startTime":1040.46,"endTime":1043.64,"body":"ups, spending big bucks to do"},{"speaker":"Kevin Mako","startTime":1040.46,"endTime":1043.64,"body":"your first massive run of five"},{"speaker":"Kevin Mako","startTime":1043.64,"endTime":1048.68,"body":"or 10,000 units plus, so it"},{"speaker":"Kevin Mako","startTime":1043.64,"endTime":1048.68,"body":"does, it does, but the thing is"},{"speaker":"Kevin Mako","startTime":1048.68,"endTime":1051.86,"body":"it's getting exponentially more"},{"speaker":"Kevin Mako","startTime":1048.68,"endTime":1051.86,"body":"efficient. Right. So"},{"speaker":"Kevin Mako","startTime":1051.86,"endTime":1054.53,"body":"traditionally, this is like a"},{"speaker":"Kevin Mako","startTime":1051.86,"endTime":1054.53,"body":"printer, right? Remember how"},{"speaker":"Kevin Mako","startTime":1054.53,"endTime":1057.89,"body":"expensive and how long it took"},{"speaker":"Kevin Mako","startTime":1054.53,"endTime":1057.89,"body":"to print a color page. And now"},{"speaker":"Kevin Mako","startTime":1057.89,"endTime":1060.89,"body":"you've got basically a color"},{"speaker":"Kevin Mako","startTime":1057.89,"endTime":1060.89,"body":"printer and anyone in anyone's"},{"speaker":"Kevin Mako","startTime":1060.89,"endTime":1063.8,"body":"home who wants one, you can buy"},{"speaker":"Kevin Mako","startTime":1060.89,"endTime":1063.8,"body":"one at the store for 49 bucks"},{"speaker":"Kevin Mako","startTime":1063.8,"endTime":1066.98,"body":"now, right? So 3D printing is"},{"speaker":"Kevin Mako","startTime":1063.8,"endTime":1066.98,"body":"following that trend where it's"},{"speaker":"Kevin Mako","startTime":1066.98,"endTime":1070.49,"body":"getting much easier, more"},{"speaker":"Kevin Mako","startTime":1066.98,"endTime":1070.49,"body":"efficient, faster to produce"},{"speaker":"Kevin Mako","startTime":1070.49,"endTime":1074.78,"body":"units, also much less expensive"},{"speaker":"Kevin Mako","startTime":1070.49,"endTime":1074.78,"body":"per unit. So you can actually do"},{"speaker":"Kevin Mako","startTime":1074.78,"endTime":1077.66,"body":"the short run manufacturing runs"},{"speaker":"Kevin Mako","startTime":1074.78,"endTime":1077.66,"body":"at a reasonable cost. It's still"},{"speaker":"Kevin Mako","startTime":1077.69,"endTime":1079.7,"body":"obviously more expensive than"},{"speaker":"Kevin Mako","startTime":1077.69,"endTime":1079.7,"body":"tooling and doing a big"},{"speaker":"Kevin Mako","startTime":1079.7,"endTime":1083.42,"body":"production run per unit, but"},{"speaker":"Kevin Mako","startTime":1079.7,"endTime":1083.42,"body":"much less expensive as a capital"},{"speaker":"Kevin Mako","startTime":1083.42,"endTime":1087.44,"body":"expense. So all of these things"},{"speaker":"Kevin Mako","startTime":1083.42,"endTime":1087.44,"body":"independently aren't like the"},{"speaker":"Kevin Mako","startTime":1087.44,"endTime":1089.69,"body":"the winning ticket. But when you"},{"speaker":"Kevin Mako","startTime":1087.44,"endTime":1089.69,"body":"start adding all these things"},{"speaker":"Kevin Mako","startTime":1089.69,"endTime":1093.3500000000001,"body":"together, it's an incredible"},{"speaker":"Kevin Mako","startTime":1089.69,"endTime":1093.3500000000001,"body":"time for hardware startups,"},{"speaker":"Kevin Mako","startTime":1093.3500000000001,"endTime":1095.51,"body":"especially right now, especially"},{"speaker":"Kevin Mako","startTime":1093.3500000000001,"endTime":1095.51,"body":"in the mass manufacturing"},{"speaker":"Kevin Mako","startTime":1095.51,"endTime":1098.9,"body":"consumer space, because of how"},{"speaker":"Kevin Mako","startTime":1095.51,"endTime":1098.9,"body":"much easier faster, more"},{"speaker":"Kevin Mako","startTime":1098.9,"endTime":1102.2,"body":"efficient it is to get to market"},{"speaker":"Kevin Mako","startTime":1098.9,"endTime":1102.2,"body":"to test to refine and then scale"},{"speaker":"Kevin Mako","startTime":1102.2,"endTime":1103.19,"body":"your business from there."},{"speaker":"Rafael Testai","startTime":1103.43,"endTime":1105.8600000000001,"body":"Okay, a couple of"},{"speaker":"Rafael Testai","startTime":1103.43,"endTime":1105.8600000000001,"body":"comments. Number one, everything"},{"speaker":"Rafael Testai","startTime":1105.8600000000001,"endTime":1108.14,"body":"you said is absolutely true."},{"speaker":"Rafael Testai","startTime":1105.8600000000001,"endTime":1108.14,"body":"When I was in college, we"},{"speaker":"Rafael Testai","startTime":1108.14,"endTime":1110.99,"body":"actually won a couple"},{"speaker":"Rafael Testai","startTime":1108.14,"endTime":1110.99,"body":"competitions for my company and"},{"speaker":"Rafael Testai","startTime":1110.99,"endTime":1114.98,"body":"got 1000s of dollars. One of my"},{"speaker":"Rafael Testai","startTime":1110.99,"endTime":1114.98,"body":"friends even made $50,000 in a"},{"speaker":"Rafael Testai","startTime":1114.98,"endTime":1115.55,"body":"competition"},{"speaker":"Kevin Mako","startTime":1115.8500000000001,"endTime":1116.3,"body":"Right on"},{"speaker":"Rafael Testai","startTime":1116.78,"endTime":1119.48,"body":"Crazy amount of"},{"speaker":"Rafael Testai","startTime":1116.78,"endTime":1119.48,"body":"money for doing a business plan"},{"speaker":"Rafael Testai","startTime":1119.48,"endTime":1122.0900000000001,"body":"doing a quick pitch deck. And"},{"speaker":"Rafael Testai","startTime":1119.48,"endTime":1122.0900000000001,"body":"there you go, and all these"},{"speaker":"Rafael Testai","startTime":1122.0900000000001,"endTime":1126.23,"body":"mentors and connections. So what"},{"speaker":"Rafael Testai","startTime":1122.0900000000001,"endTime":1126.23,"body":"you're saying is true. Let me"},{"speaker":"Rafael Testai","startTime":1126.23,"endTime":1130.1000000000001,"body":"think about that. The next thing"},{"speaker":"Rafael Testai","startTime":1126.23,"endTime":1130.1000000000001,"body":"I had in mind. Number two was"},{"speaker":"Rafael Testai","startTime":1130.3400000000001,"endTime":1134.03,"body":"okay, so that's the pitch the"},{"speaker":"Rafael Testai","startTime":1130.3400000000001,"endTime":1134.03,"body":"competition. So if I understand"},{"speaker":"Rafael Testai","startTime":1134.03,"endTime":1137.21,"body":"correctly, people that come to"},{"speaker":"Rafael Testai","startTime":1134.03,"endTime":1137.21,"body":"you don't have to have all the"},{"speaker":"Rafael Testai","startTime":1137.21,"endTime":1140.18,"body":"money to to go from idea all the"},{"speaker":"Rafael Testai","startTime":1137.21,"endTime":1140.18,"body":"way to manufacturer there's a"},{"speaker":"Rafael Testai","startTime":1140.18,"endTime":1142.8200000000002,"body":"bridging the gap that that step"},{"speaker":"Rafael Testai","startTime":1140.18,"endTime":1142.8200000000002,"body":"in the middle of the Kickstarter"},{"speaker":"Rafael Testai","startTime":1142.8200000000002,"endTime":1147.14,"body":"campaign. So you can actually"},{"speaker":"Rafael Testai","startTime":1142.8200000000002,"endTime":1147.14,"body":"get them to that point. How much"},{"speaker":"Rafael Testai","startTime":1147.17,"endTime":1150.98,"body":"usually on average, maybe just"},{"speaker":"Rafael Testai","startTime":1147.17,"endTime":1150.98,"body":"ballpark idea does it cost to"},{"speaker":"Rafael Testai","startTime":1150.98,"endTime":1154.28,"body":"get an idea on a napkin to that"},{"speaker":"Rafael Testai","startTime":1150.98,"endTime":1154.28,"body":"Kickstarter state?"},{"speaker":"Kevin Mako","startTime":1154.28,"endTime":1156.23,"body":"Yeah, it depends on"},{"speaker":"Kevin Mako","startTime":1154.28,"endTime":1156.23,"body":"the complexity, but I can give"},{"speaker":"Kevin Mako","startTime":1156.23,"endTime":1158.1200000000001,"body":"you some ballpark. So keep in"},{"speaker":"Kevin Mako","startTime":1156.23,"endTime":1158.1200000000001,"body":"mind as well, Kickstarter and"},{"speaker":"Kevin Mako","startTime":1158.1200000000001,"endTime":1160.8500000000001,"body":"Indiegogo. First of all, I do"},{"speaker":"Kevin Mako","startTime":1158.1200000000001,"endTime":1160.8500000000001,"body":"believe it's an incredible"},{"speaker":"Kevin Mako","startTime":1160.88,"endTime":1164.8400000000001,"body":"option for a hardware mass"},{"speaker":"Kevin Mako","startTime":1160.88,"endTime":1164.8400000000001,"body":"manufacturer, consumer physical"},{"speaker":"Kevin Mako","startTime":1164.8400000000001,"endTime":1170.3600000000001,"body":"product startup, I think is a"},{"speaker":"Kevin Mako","startTime":1164.8400000000001,"endTime":1170.3600000000001,"body":"really incredible tool, not only"},{"speaker":"Kevin Mako","startTime":1170.3600000000001,"endTime":1173.0900000000001,"body":"to make some, some sales before"},{"speaker":"Kevin Mako","startTime":1170.3600000000001,"endTime":1173.0900000000001,"body":"you have to produce but also to"},{"speaker":"Kevin Mako","startTime":1173.0900000000001,"endTime":1176.45,"body":"get real market validation and"},{"speaker":"Kevin Mako","startTime":1173.0900000000001,"endTime":1176.45,"body":"feedback when you sell your"},{"speaker":"Kevin Mako","startTime":1176.45,"endTime":1180.3200000000002,"body":"first 500 units, and you have"},{"speaker":"Kevin Mako","startTime":1176.45,"endTime":1180.3200000000002,"body":"real users who purchase it, and"},{"speaker":"Kevin Mako","startTime":1180.3200000000002,"endTime":1183.44,"body":"then eventually you deliver and"},{"speaker":"Kevin Mako","startTime":1180.3200000000002,"endTime":1183.44,"body":"they love it. I mean that that"},{"speaker":"Kevin Mako","startTime":1183.47,"endTime":1185.75,"body":"you've now made your your"},{"speaker":"Kevin Mako","startTime":1183.47,"endTime":1185.75,"body":"business exponentially more"},{"speaker":"Kevin Mako","startTime":1185.75,"endTime":1188.9,"body":"valuable and much more right for"},{"speaker":"Kevin Mako","startTime":1185.75,"endTime":1188.9,"body":"your next investment round to"},{"speaker":"Kevin Mako","startTime":1188.9,"endTime":1191.69,"body":"actually scale. But coming back"},{"speaker":"Kevin Mako","startTime":1188.9,"endTime":1191.69,"body":"to costs from that like sketch"},{"speaker":"Kevin Mako","startTime":1191.69,"endTime":1196.1000000000001,"body":"on an app. And first of all, it"},{"speaker":"Kevin Mako","startTime":1191.69,"endTime":1196.1000000000001,"body":"that like I mentioned as well,"},{"speaker":"Kevin Mako","startTime":1196.1000000000001,"endTime":1198.41,"body":"there's other opportunities,"},{"speaker":"Kevin Mako","startTime":1196.1000000000001,"endTime":1198.41,"body":"other investors, other programs,"},{"speaker":"Kevin Mako","startTime":1198.41,"endTime":1201.8300000000002,"body":"etc. But what you have to think"},{"speaker":"Kevin Mako","startTime":1198.41,"endTime":1201.8300000000002,"body":"about is that if it's a"},{"speaker":"Kevin Mako","startTime":1201.8300000000002,"endTime":1206.0,"body":"relatively simple product,"},{"speaker":"Kevin Mako","startTime":1201.8300000000002,"endTime":1206.0,"body":"without electronics, you're"},{"speaker":"Kevin Mako","startTime":1206.0,"endTime":1210.0800000000002,"body":"design engineering, one or two"},{"speaker":"Kevin Mako","startTime":1206.0,"endTime":1210.0800000000002,"body":"rounds of prototyping, you could"},{"speaker":"Kevin Mako","startTime":1210.0800000000002,"endTime":1214.3400000000001,"body":"be anywhere from 10 to $20,000"},{"speaker":"Kevin Mako","startTime":1210.0800000000002,"endTime":1214.3400000000001,"body":"in development to $100,000 in"},{"speaker":"Kevin Mako","startTime":1214.3400000000001,"endTime":1217.52,"body":"development to get to like"},{"speaker":"Kevin Mako","startTime":1214.3400000000001,"endTime":1217.52,"body":"you're ready for production at a"},{"speaker":"Kevin Mako","startTime":1217.52,"endTime":1220.46,"body":"point are you ready for a"},{"speaker":"Kevin Mako","startTime":1217.52,"endTime":1220.46,"body":"crowdfunding campaign? Now if"},{"speaker":"Kevin Mako","startTime":1220.46,"endTime":1223.19,"body":"you got more complexities, you"},{"speaker":"Kevin Mako","startTime":1220.46,"endTime":1223.19,"body":"could double or triple that if"},{"speaker":"Kevin Mako","startTime":1223.19,"endTime":1225.98,"body":"it's mechanically like quite"},{"speaker":"Kevin Mako","startTime":1223.19,"endTime":1225.98,"body":"complicated or you start getting"},{"speaker":"Kevin Mako","startTime":1225.98,"endTime":1229.73,"body":"into like specialized or"},{"speaker":"Kevin Mako","startTime":1225.98,"endTime":1229.73,"body":"experimental things. And then"},{"speaker":"Kevin Mako","startTime":1230.18,"endTime":1233.69,"body":"again, adding electronics you're"},{"speaker":"Kevin Mako","startTime":1230.18,"endTime":1233.69,"body":"adding some costs there. So it"},{"speaker":"Kevin Mako","startTime":1233.69,"endTime":1236.1200000000001,"body":"really, in hardware, it all"},{"speaker":"Kevin Mako","startTime":1233.69,"endTime":1236.1200000000001,"body":"depends obviously if you're"},{"speaker":"Kevin Mako","startTime":1236.1200000000001,"endTime":1239.0,"body":"making me look at like our"},{"speaker":"Kevin Mako","startTime":1236.1200000000001,"endTime":1239.0,"body":"clients product that truck try"},{"speaker":"Kevin Mako","startTime":1239.0,"endTime":1242.63,"body":"plunger, it's a better toilet"},{"speaker":"Kevin Mako","startTime":1239.0,"endTime":1242.63,"body":"plunger. It's it's very easy for"},{"speaker":"Kevin Mako","startTime":1242.63,"endTime":1245.5700000000002,"body":"us to design engineer to set"},{"speaker":"Kevin Mako","startTime":1242.63,"endTime":1245.5700000000002,"body":"them up to production, and off"},{"speaker":"Kevin Mako","startTime":1245.5700000000002,"endTime":1248.18,"body":"they go. But you look at one of"},{"speaker":"Kevin Mako","startTime":1245.5700000000002,"endTime":1248.18,"body":"our clients like the Go Fish,"},{"speaker":"Kevin Mako","startTime":1248.21,"endTime":1251.81,"body":"underwater fishing camera, much"},{"speaker":"Kevin Mako","startTime":1248.21,"endTime":1251.81,"body":"more comprehensive, you're well"},{"speaker":"Kevin Mako","startTime":1251.81,"endTime":1254.21,"body":"into the six figures in terms of"},{"speaker":"Kevin Mako","startTime":1251.81,"endTime":1254.21,"body":"everything from design,"},{"speaker":"Kevin Mako","startTime":1254.21,"endTime":1257.3600000000001,"body":"engineering, prototyping,"},{"speaker":"Kevin Mako","startTime":1254.21,"endTime":1257.3600000000001,"body":"testing, refinement, etc, before"},{"speaker":"Kevin Mako","startTime":1257.51,"endTime":1260.69,"body":"even gone to production. But"},{"speaker":"Kevin Mako","startTime":1257.51,"endTime":1260.69,"body":"again, every layer that you get"},{"speaker":"Kevin Mako","startTime":1260.69,"endTime":1262.91,"body":"every stage that you get, like,"},{"speaker":"Kevin Mako","startTime":1260.69,"endTime":1262.91,"body":"once you get to the end of"},{"speaker":"Kevin Mako","startTime":1262.91,"endTime":1265.43,"body":"design phase, you've had a"},{"speaker":"Kevin Mako","startTime":1262.91,"endTime":1265.43,"body":"certain milestone, you can get a"},{"speaker":"Kevin Mako","startTime":1265.43,"endTime":1267.89,"body":"certain type of investor at that"},{"speaker":"Kevin Mako","startTime":1265.43,"endTime":1267.89,"body":"point, once you've got to the"},{"speaker":"Kevin Mako","startTime":1267.89,"endTime":1270.44,"body":"rough prototype, you actually"},{"speaker":"Kevin Mako","startTime":1267.89,"endTime":1270.44,"body":"have something that quasi works,"},{"speaker":"Kevin Mako","startTime":1270.44,"endTime":1272.72,"body":"it's functional, that shows your"},{"speaker":"Kevin Mako","startTime":1270.44,"endTime":1272.72,"body":"tech, now you're at a much"},{"speaker":"Kevin Mako","startTime":1272.72,"endTime":1275.5700000000002,"body":"bigger investor standpoint, by"},{"speaker":"Kevin Mako","startTime":1272.72,"endTime":1275.5700000000002,"body":"the time you're pre production,"},{"speaker":"Kevin Mako","startTime":1275.69,"endTime":1279.0800000000002,"body":"and maybe you even got some pre"},{"speaker":"Kevin Mako","startTime":1275.69,"endTime":1279.0800000000002,"body":"sales or whatever else. Now"},{"speaker":"Kevin Mako","startTime":1279.0800000000002,"endTime":1281.45,"body":"you're now you're kind of in the"},{"speaker":"Kevin Mako","startTime":1279.0800000000002,"endTime":1281.45,"body":"in the big leagues as a hardware"},{"speaker":"Kevin Mako","startTime":1281.45,"endTime":1285.71,"body":"startup to really access a major"},{"speaker":"Kevin Mako","startTime":1281.45,"endTime":1285.71,"body":"funding, right. So it's"},{"speaker":"Kevin Mako","startTime":1285.71,"endTime":1289.67,"body":"important that if you're super"},{"speaker":"Kevin Mako","startTime":1285.71,"endTime":1289.67,"body":"cash strapped yourself. First"},{"speaker":"Kevin Mako","startTime":1289.67,"endTime":1293.03,"body":"things first, you've just got"},{"speaker":"Kevin Mako","startTime":1289.67,"endTime":1293.03,"body":"the idea. It's on you, or very"},{"speaker":"Kevin Mako","startTime":1293.03,"endTime":1296.72,"body":"close friends and family who"},{"speaker":"Kevin Mako","startTime":1293.03,"endTime":1296.72,"body":"trust you. And the idea, right,"},{"speaker":"Kevin Mako","startTime":1296.72,"endTime":1298.97,"body":"so that's how you're going to"},{"speaker":"Kevin Mako","startTime":1296.72,"endTime":1298.97,"body":"get your first 5, 10, 20"},{"speaker":"Kevin Mako","startTime":1298.97,"endTime":1302.0900000000001,"body":"thousand dollars. From there,"},{"speaker":"Kevin Mako","startTime":1298.97,"endTime":1302.0900000000001,"body":"when you're looking at, you've"},{"speaker":"Kevin Mako","startTime":1302.0900000000001,"endTime":1304.3700000000001,"body":"actually got some physical"},{"speaker":"Kevin Mako","startTime":1302.0900000000001,"endTime":1304.3700000000001,"body":"thing, which is really like the"},{"speaker":"Kevin Mako","startTime":1304.3700000000001,"endTime":1308.48,"body":"first mark or any kind of more"},{"speaker":"Kevin Mako","startTime":1304.3700000000001,"endTime":1308.48,"body":"official angel investor or seed"},{"speaker":"Kevin Mako","startTime":1350.35,"endTime":1353.83,"body":"investor, then maybe you can"},{"speaker":"Kevin Mako","startTime":1350.35,"endTime":1353.83,"body":"start to ask them for 50, 100,"},{"speaker":"Kevin Mako","startTime":1353.86,"endTime":1357.7,"body":"200 thousand dollars to really"},{"speaker":"Kevin Mako","startTime":1353.86,"endTime":1357.7,"body":"nail development. And then once"},{"speaker":"Kevin Mako","startTime":1357.7,"endTime":1360.6699999999998,"body":"you're into,you've actually got"},{"speaker":"Kevin Mako","startTime":1357.7,"endTime":1360.6699999999998,"body":"some sales, even if it's pre"},{"speaker":"Kevin Mako","startTime":1360.6699999999998,"endTime":1363.73,"body":"sales, that puts you on the map"},{"speaker":"Kevin Mako","startTime":1360.6699999999998,"endTime":1363.73,"body":"that proves that people have"},{"speaker":"Kevin Mako","startTime":1364.1499999999999,"endTime":1367.96,"body":"built their credit card to"},{"speaker":"Kevin Mako","startTime":1364.1499999999999,"endTime":1367.96,"body":"actually pay for your product,"},{"speaker":"Kevin Mako","startTime":1367.99,"endTime":1371.1699999999998,"body":"they believe in it that much."},{"speaker":"Kevin Mako","startTime":1367.99,"endTime":1371.1699999999998,"body":"Now you're looking at anywhere"},{"speaker":"Kevin Mako","startTime":1371.1699999999998,"endTime":1376.12,"body":"from 100 to a million dollars in"},{"speaker":"Kevin Mako","startTime":1371.1699999999998,"endTime":1376.12,"body":"later stage seed financing, or"},{"speaker":"Kevin Mako","startTime":1376.12,"endTime":1379.6599999999999,"body":"even early stage VC financing or"},{"speaker":"Kevin Mako","startTime":1376.12,"endTime":1379.6599999999999,"body":"whatnot at that point time to"},{"speaker":"Kevin Mako","startTime":1379.81,"endTime":1382.84,"body":"that's not only to manufacture"},{"speaker":"Kevin Mako","startTime":1379.81,"endTime":1382.84,"body":"and execute, but also to build"},{"speaker":"Kevin Mako","startTime":1383.2,"endTime":1387.01,"body":"quite a substantial and scalable"},{"speaker":"Kevin Mako","startTime":1383.2,"endTime":1387.01,"body":"product business around that"},{"speaker":"Kevin Mako","startTime":1387.01,"endTime":1389.77,"body":"that innovation. So that's"},{"speaker":"Kevin Mako","startTime":1387.01,"endTime":1389.77,"body":"breaking down some of the"},{"speaker":"Kevin Mako","startTime":1389.8899999999999,"endTime":1392.8,"body":"different phases, and how you"},{"speaker":"Kevin Mako","startTime":1389.8899999999999,"endTime":1392.8,"body":"can look at investment rounds."},{"speaker":"Rafael Testai","startTime":1394.12,"endTime":1396.6699999999998,"body":"Okay, so you get"},{"speaker":"Rafael Testai","startTime":1394.12,"endTime":1396.6699999999998,"body":"them from idea to Kickstarter,"},{"speaker":"Rafael Testai","startTime":1396.6699999999998,"endTime":1399.55,"body":"basically, we're just going to"},{"speaker":"Rafael Testai","startTime":1396.6699999999998,"endTime":1399.55,"body":"call that the, what would you"},{"speaker":"Rafael Testai","startTime":1399.55,"endTime":1402.46,"body":"call that phase in the middle,"},{"speaker":"Rafael Testai","startTime":1399.55,"endTime":1402.46,"body":"that Kickstarter, Indiegogo"},{"speaker":"Rafael Testai","startTime":1402.46,"endTime":1402.9099999999999,"body":"stage?"},{"speaker":"Rafael Testai","startTime":1403.3899999999999,"endTime":1406.96,"body":"Well, that's it. So really, at"},{"speaker":"Rafael Testai","startTime":1403.3899999999999,"endTime":1406.96,"body":"that point, ideally, to have a"},{"speaker":"Rafael Testai","startTime":1406.96,"endTime":1409.6299999999999,"body":"really great crowdfunding"},{"speaker":"Rafael Testai","startTime":1406.96,"endTime":1409.6299999999999,"body":"campaign, you want to be ready"},{"speaker":"Rafael Testai","startTime":1409.6299999999999,"endTime":1413.44,"body":"for production, that's very"},{"speaker":"Rafael Testai","startTime":1409.6299999999999,"endTime":1413.44,"body":"different than just a rough"},{"speaker":"Rafael Testai","startTime":1413.44,"endTime":1415.99,"body":"prototype, because when you have"},{"speaker":"Rafael Testai","startTime":1413.44,"endTime":1415.99,"body":"just a rough prototype, you're"},{"speaker":"Rafael Testai","startTime":1415.99,"endTime":1418.6,"body":"not ready for production, you"},{"speaker":"Rafael Testai","startTime":1415.99,"endTime":1418.6,"body":"need to then go through your"},{"speaker":"Rafael Testai","startTime":1418.6,"endTime":1421.45,"body":"formalized engineering, formal"},{"speaker":"Rafael Testai","startTime":1418.6,"endTime":1421.45,"body":"prototyping testing of that"},{"speaker":"Rafael Testai","startTime":1421.45,"endTime":1424.1499999999999,"body":"prototype have something that's"},{"speaker":"Rafael Testai","startTime":1421.45,"endTime":1424.1499999999999,"body":"pretty much almost identical to"},{"speaker":"Rafael Testai","startTime":1424.1499999999999,"endTime":1427.8999999999999,"body":"the to the production unit, to"},{"speaker":"Rafael Testai","startTime":1424.1499999999999,"endTime":1427.8999999999999,"body":"fully vet out every everything"},{"speaker":"Rafael Testai","startTime":1427.8999999999999,"endTime":1430.51,"body":"that you're doing, then you're"},{"speaker":"Rafael Testai","startTime":1427.8999999999999,"endTime":1430.51,"body":"ready to actually work with the"},{"speaker":"Rafael Testai","startTime":1430.51,"endTime":1433.75,"body":"manufacturer to get real quotes"},{"speaker":"Rafael Testai","startTime":1430.51,"endTime":1433.75,"body":"on what it costs. That is the"},{"speaker":"Rafael Testai","startTime":1433.75,"endTime":1436.96,"body":"point where you're an ideal"},{"speaker":"Rafael Testai","startTime":1433.75,"endTime":1436.96,"body":"candidate for crowdfunding, you"},{"speaker":"Rafael Testai","startTime":1436.96,"endTime":1439.8999999999999,"body":"can do it earlier. But you're"},{"speaker":"Rafael Testai","startTime":1436.96,"endTime":1439.8999999999999,"body":"going to have a harder time"},{"speaker":"Rafael Testai","startTime":1439.8999999999999,"endTime":1444.1599999999999,"body":"convincing the public"},{"speaker":"Rafael Testai","startTime":1439.8999999999999,"endTime":1444.1599999999999,"body":"essentially to give you that 5"},{"speaker":"Rafael Testai","startTime":1444.1599999999999,"endTime":1447.79,"body":"to $500, for your for your"},{"speaker":"Rafael Testai","startTime":1444.1599999999999,"endTime":1447.79,"body":"gadget, if you're really not"},{"speaker":"Rafael Testai","startTime":1447.79,"endTime":1451.75,"body":"truly ready for production, and"},{"speaker":"Rafael Testai","startTime":1447.79,"endTime":1451.75,"body":"the market smart. So you really"},{"speaker":"Rafael Testai","startTime":1451.75,"endTime":1455.59,"body":"want to make sure that that"},{"speaker":"Rafael Testai","startTime":1451.75,"endTime":1455.59,"body":"you're you're you're carefully"},{"speaker":"Rafael Testai","startTime":1455.59,"endTime":1458.1399999999999,"body":"deciding when to go to"},{"speaker":"Rafael Testai","startTime":1455.59,"endTime":1458.1399999999999,"body":"crowdfunding, when you're ready,"},{"speaker":"Rafael Testai","startTime":1458.1399999999999,"endTime":1460.36,"body":"how you're figuring out your"},{"speaker":"Rafael Testai","startTime":1458.1399999999999,"endTime":1460.36,"body":"manufacturing, because if you do"},{"speaker":"Rafael Testai","startTime":1460.36,"endTime":1463.81,"body":"raise a million dollars on"},{"speaker":"Rafael Testai","startTime":1460.36,"endTime":1463.81,"body":"crowdfunding, you darn well"},{"speaker":"Rafael Testai","startTime":1463.81,"endTime":1466.1799999999998,"body":"better be sure you're going to"},{"speaker":"Rafael Testai","startTime":1463.81,"endTime":1466.1799999999998,"body":"execute on a high quality"},{"speaker":"Rafael Testai","startTime":1466.1799999999998,"endTime":1469.09,"body":"production run very soon"},{"speaker":"Rafael Testai","startTime":1466.1799999999998,"endTime":1469.09,"body":"thereafter, or you're gonna have"},{"speaker":"Rafael Testai","startTime":1469.09,"endTime":1472.06,"body":"a lot of angry customer, a lot"},{"speaker":"Rafael Testai","startTime":1469.09,"endTime":1472.06,"body":"of angry customers without a"},{"speaker":"Rafael Testai","startTime":1472.06,"endTime":1475.03,"body":"product in their hand. So that's"},{"speaker":"Rafael Testai","startTime":1472.06,"endTime":1475.03,"body":"why we really advocate being"},{"speaker":"Rafael Testai","startTime":1475.03,"endTime":1477.7,"body":"sure that you're at that point,"},{"speaker":"Rafael Testai","startTime":1475.03,"endTime":1477.7,"body":"pretty much where you're ready"},{"speaker":"Rafael Testai","startTime":1477.7,"endTime":1480.4299999999998,"body":"to go to production, before"},{"speaker":"Rafael Testai","startTime":1477.7,"endTime":1480.4299999999998,"body":"you're actually pulling the"},{"speaker":"Rafael Testai","startTime":1480.4299999999998,"endTime":1482.8899999999999,"body":"trigger on a crowdfunding"},{"speaker":"Rafael Testai","startTime":1480.4299999999998,"endTime":1482.8899999999999,"body":"campaign. And even with the"},{"speaker":"Rafael Testai","startTime":1482.8899999999999,"endTime":1486.55,"body":"crowdfunding campaign, I would"},{"speaker":"Rafael Testai","startTime":1482.8899999999999,"endTime":1486.55,"body":"highly advise if this is the if"},{"speaker":"Rafael Testai","startTime":1486.55,"endTime":1490.45,"body":"you're not in digital"},{"speaker":"Rafael Testai","startTime":1486.55,"endTime":1490.45,"body":"advertising at a fairly"},{"speaker":"Rafael Testai","startTime":1490.45,"endTime":1494.86,"body":"sophisticated level, or you're"},{"speaker":"Rafael Testai","startTime":1490.45,"endTime":1494.86,"body":"you've never done a crowdfunding"},{"speaker":"Rafael Testai","startTime":1494.86,"endTime":1497.83,"body":"campaign before, I highly"},{"speaker":"Rafael Testai","startTime":1494.86,"endTime":1497.83,"body":"recommend working with a"},{"speaker":"Rafael Testai","startTime":1497.83,"endTime":1503.02,"body":"specialized crowdfunding agency"},{"speaker":"Rafael Testai","startTime":1497.83,"endTime":1503.02,"body":"for that work, it is not a set"},{"speaker":"Rafael Testai","startTime":1503.02,"endTime":1505.84,"body":"and forget it sort of thing. It"},{"speaker":"Rafael Testai","startTime":1503.02,"endTime":1505.84,"body":"really requires talent to build"},{"speaker":"Rafael Testai","startTime":1505.84,"endTime":1506.83,"body":"off a great campaign."},{"speaker":"Rafael Testai","startTime":1508.24,"endTime":1511.09,"body":"I can tell you've done this 1000"},{"speaker":"Rafael Testai","startTime":1508.24,"endTime":1511.09,"body":"times from the way you explain"},{"speaker":"Rafael Testai","startTime":1511.09,"endTime":1513.28,"body":"it, you know what's coming"},{"speaker":"Rafael Testai","startTime":1511.09,"endTime":1513.28,"body":"ahead, you know how to predict"},{"speaker":"Rafael Testai","startTime":1513.28,"endTime":1516.97,"body":"it. So when you get them to"},{"speaker":"Rafael Testai","startTime":1513.28,"endTime":1516.97,"body":"crowdfunding stage, probably"},{"speaker":"Rafael Testai","startTime":1516.97,"endTime":1520.36,"body":"they, they've got enough funds"},{"speaker":"Rafael Testai","startTime":1516.97,"endTime":1520.36,"body":"just to get there. And the idea"},{"speaker":"Rafael Testai","startTime":1520.36,"endTime":1524.02,"body":"is to let the inventor now"},{"speaker":"Rafael Testai","startTime":1520.36,"endTime":1524.02,"body":"gather some money and some"},{"speaker":"Rafael Testai","startTime":1524.02,"endTime":1526.87,"body":"investments and the Kickstarter,"},{"speaker":"Rafael Testai","startTime":1524.02,"endTime":1526.87,"body":"and then maybe they can come"},{"speaker":"Rafael Testai","startTime":1526.87,"endTime":1529.4199999999998,"body":"back to you and do phase two or"},{"speaker":"Rafael Testai","startTime":1526.87,"endTime":1529.4199999999998,"body":"something like that, right?"},{"speaker":"Rafael Testai","startTime":1530.08,"endTime":1533.9199999999998,"body":"Well, really, at that point,"},{"speaker":"Rafael Testai","startTime":1530.08,"endTime":1533.9199999999998,"body":"when they've got so if they've"},{"speaker":"Rafael Testai","startTime":1533.9199999999998,"endTime":1537.6399999999999,"body":"gone through the process with"},{"speaker":"Rafael Testai","startTime":1533.9199999999998,"endTime":1537.6399999999999,"body":"us, or a professional design, to"},{"speaker":"Rafael Testai","startTime":1537.6399999999999,"endTime":1541.9299999999998,"body":"production design for production"},{"speaker":"Rafael Testai","startTime":1537.6399999999999,"endTime":1541.9299999999998,"body":"firm. At that point, they're"},{"speaker":"Rafael Testai","startTime":1541.9299999999998,"endTime":1544.3899999999999,"body":"ready to ready to produce, they"},{"speaker":"Rafael Testai","startTime":1541.9299999999998,"endTime":1544.3899999999999,"body":"ideally have already been"},{"speaker":"Rafael Testai","startTime":1544.3899999999999,"endTime":1547.3899999999999,"body":"talking to the manufacturer and"},{"speaker":"Rafael Testai","startTime":1544.3899999999999,"endTime":1547.3899999999999,"body":"getting pricing, which is how"},{"speaker":"Rafael Testai","startTime":1547.3899999999999,"endTime":1549.3999999999999,"body":"they actually price out their"},{"speaker":"Rafael Testai","startTime":1547.3899999999999,"endTime":1549.3999999999999,"body":"campaign to go to to"},{"speaker":"Rafael Testai","startTime":1549.52,"endTime":1552.31,"body":"crowdfunding. So at that point,"},{"speaker":"Rafael Testai","startTime":1549.52,"endTime":1552.31,"body":"generally, it's just pulling the"},{"speaker":"Rafael Testai","startTime":1552.31,"endTime":1553.9299999999998,"body":"trigger, you're taking the money"},{"speaker":"Rafael Testai","startTime":1552.31,"endTime":1553.9299999999998,"body":"that you've earned from the"},{"speaker":"Rafael Testai","startTime":1553.9299999999998,"endTime":1556.69,"body":"campaign, and now you're"},{"speaker":"Rafael Testai","startTime":1553.9299999999998,"endTime":1556.69,"body":"applying it to the manufacturing"},{"speaker":"Rafael Testai","startTime":1556.69,"endTime":1561.25,"body":"run. So realistically speaking,"},{"speaker":"Rafael Testai","startTime":1556.69,"endTime":1561.25,"body":"you don't really need more"},{"speaker":"Rafael Testai","startTime":1561.25,"endTime":1563.9199999999998,"body":"design after that. However,"},{"speaker":"Rafael Testai","startTime":1561.25,"endTime":1563.9199999999998,"body":"there's a second major benefit"},{"speaker":"Rafael Testai","startTime":1563.9199999999998,"endTime":1566.47,"body":"that happens with almost every"},{"speaker":"Rafael Testai","startTime":1563.9199999999998,"endTime":1566.47,"body":"crowdfunding campaign. And"},{"speaker":"Rafael Testai","startTime":1566.47,"endTime":1569.1699999999998,"body":"that's user feedback. Because"},{"speaker":"Rafael Testai","startTime":1566.47,"endTime":1569.1699999999998,"body":"one of the things that happens"},{"speaker":"Rafael Testai","startTime":1569.1699999999998,"endTime":1571.6299999999999,"body":"with a campaign is you start"},{"speaker":"Rafael Testai","startTime":1569.1699999999998,"endTime":1571.6299999999999,"body":"getting comments, emails,"},{"speaker":"Rafael Testai","startTime":1571.6299999999999,"endTime":1575.26,"body":"inquiries, etc, of people"},{"speaker":"Rafael Testai","startTime":1571.6299999999999,"endTime":1575.26,"body":"saying, Hey, I really love it if"},{"speaker":"Rafael Testai","startTime":1575.26,"endTime":1577.9299999999998,"body":"you had this feature, or I'd"},{"speaker":"Rafael Testai","startTime":1575.26,"endTime":1577.9299999999998,"body":"really love it if you did it in"},{"speaker":"Rafael Testai","startTime":1577.9299999999998,"endTime":1580.51,"body":"this size, or I'd really love it"},{"speaker":"Rafael Testai","startTime":1577.9299999999998,"endTime":1580.51,"body":"if you did it for this"},{"speaker":"Rafael Testai","startTime":1580.51,"endTime":1584.53,"body":"particular international market."},{"speaker":"Rafael Testai","startTime":1580.51,"endTime":1584.53,"body":"Now, all of a sudden, you start"},{"speaker":"Rafael Testai","startTime":1584.53,"endTime":1587.56,"body":"realizing, 'Okay, I've got my A"},{"speaker":"Rafael Testai","startTime":1584.53,"endTime":1587.56,"body":"core initial thing that I went"},{"speaker":"Rafael Testai","startTime":1587.56,"endTime":1590.29,"body":"to market with. But now I'm"},{"speaker":"Rafael Testai","startTime":1587.56,"endTime":1590.29,"body":"starting to learn both from my"},{"speaker":"Rafael Testai","startTime":1590.29,"endTime":1593.71,"body":"own feedback, our design teams"},{"speaker":"Rafael Testai","startTime":1590.29,"endTime":1593.71,"body":"feedback and real users, real"},{"speaker":"Rafael Testai","startTime":1593.8,"endTime":1597.58,"body":"customers feedback, how this"},{"speaker":"Rafael Testai","startTime":1593.8,"endTime":1597.58,"body":"thing could expand and grow from"},{"speaker":"Rafael Testai","startTime":1597.58,"endTime":1600.6699999999998,"body":"beyond just that one product.'"},{"speaker":"Rafael Testai","startTime":1597.58,"endTime":1600.6699999999998,"body":"And that's where you can take"},{"speaker":"Rafael Testai","startTime":1600.6699999999998,"endTime":1605.3799999999999,"body":"one singular product and turn it"},{"speaker":"Rafael Testai","startTime":1600.6699999999998,"endTime":1605.3799999999999,"body":"into a multi product empire. And"},{"speaker":"Rafael Testai","startTime":1605.3799999999999,"endTime":1608.1699999999998,"body":"that is really what leads to"},{"speaker":"Rafael Testai","startTime":1605.3799999999999,"endTime":1608.1699999999998,"body":"great customers for us, because"},{"speaker":"Rafael Testai","startTime":1608.1699999999998,"endTime":1610.78,"body":"now they come back for maybe"},{"speaker":"Rafael Testai","startTime":1608.1699999999998,"endTime":1610.78,"body":"their pro version, or even maybe"},{"speaker":"Rafael Testai","startTime":1610.78,"endTime":1614.1399999999999,"body":"a simplified version for, let's"},{"speaker":"Rafael Testai","startTime":1610.78,"endTime":1614.1399999999999,"body":"say Walmart's knocking on their"},{"speaker":"Rafael Testai","startTime":1614.1399999999999,"endTime":1616.6599999999999,"body":"door and they say, Look, you're"},{"speaker":"Rafael Testai","startTime":1614.1399999999999,"endTime":1616.6599999999999,"body":"too expensive for us figure out"},{"speaker":"Rafael Testai","startTime":1616.6599999999999,"endTime":1618.61,"body":"how to cut your costs in half,"},{"speaker":"Rafael Testai","startTime":1616.6599999999999,"endTime":1618.61,"body":"we don't need these three"},{"speaker":"Rafael Testai","startTime":1618.61,"endTime":1622.1799999999998,"body":"features. And and now you'll be"},{"speaker":"Rafael Testai","startTime":1618.61,"endTime":1622.1799999999998,"body":"a great pitch for Walmart, and"},{"speaker":"Rafael Testai","startTime":1622.1799999999998,"endTime":1625.1499999999999,"body":"we could move massive units. So"},{"speaker":"Rafael Testai","startTime":1622.1799999999998,"endTime":1625.1499999999999,"body":"a lot of times, it could be even"},{"speaker":"Rafael Testai","startTime":1625.1499999999999,"endTime":1628.06,"body":"a cost down version or a"},{"speaker":"Rafael Testai","startTime":1625.1499999999999,"endTime":1628.06,"body":"simplified version. So that's"},{"speaker":"Rafael Testai","startTime":1628.06,"endTime":1630.73,"body":"where the conversation get very"},{"speaker":"Rafael Testai","startTime":1628.06,"endTime":1630.73,"body":"excited. So it's not just about"},{"speaker":"Rafael Testai","startTime":1630.73,"endTime":1632.83,"body":"the money that you get from"},{"speaker":"Rafael Testai","startTime":1630.73,"endTime":1632.83,"body":"crowdfunding, but it's also"},{"speaker":"Rafael Testai","startTime":1632.83,"endTime":1635.77,"body":"about the feedback. And that"},{"speaker":"Rafael Testai","startTime":1632.83,"endTime":1635.77,"body":"feedback could be very powerful"},{"speaker":"Rafael Testai","startTime":1635.8,"endTime":1638.2,"body":"how you actually build a world"},{"speaker":"Rafael Testai","startTime":1635.8,"endTime":1638.2,"body":"class brand."},{"speaker":"Rafael Testai","startTime":1638.8,"endTime":1641.62,"body":"Up until now, I was still"},{"speaker":"Rafael Testai","startTime":1638.8,"endTime":1641.62,"body":"wondering how would this made"},{"speaker":"Rafael Testai","startTime":1641.62,"endTime":1644.8,"body":"financial sense to you, but now"},{"speaker":"Rafael Testai","startTime":1641.62,"endTime":1644.8,"body":"it all clicked for me multiple"},{"speaker":"Rafael Testai","startTime":1644.8,"endTime":1647.9199999999998,"body":"products, and they're coming"},{"speaker":"Rafael Testai","startTime":1644.8,"endTime":1647.9199999999998,"body":"back to you for for more design."},{"speaker":"Rafael Testai","startTime":1647.9199999999998,"endTime":1651.85,"body":"So that makes sense. Now, one"},{"speaker":"Rafael Testai","startTime":1647.9199999999998,"endTime":1651.85,"body":"thing that crossed my mind was"},{"speaker":"Rafael Testai","startTime":1652.0,"endTime":1655.84,"body":"when all these first time users"},{"speaker":"Rafael Testai","startTime":1652.0,"endTime":1655.84,"body":"give you feedback? What if that"},{"speaker":"Rafael Testai","startTime":1655.84,"endTime":1658.75,"body":"causes feature overload?"},{"speaker":"Rafael Testai","startTime":1655.84,"endTime":1658.75,"body":"Everyone wants a new feature?"},{"speaker":"Rafael Testai","startTime":1658.75,"endTime":1660.46,"body":"How do you decide which one to"},{"speaker":"Rafael Testai","startTime":1658.75,"endTime":1660.46,"body":"go with?"},{"speaker":"Rafael Testai","startTime":1661.03,"endTime":1663.7,"body":"First of all, you ask great"},{"speaker":"Rafael Testai","startTime":1661.03,"endTime":1663.7,"body":"questions. These are solid, I'll"},{"speaker":"Rafael Testai","startTime":1663.7,"endTime":1666.1,"body":"tell you first and foremost, one"},{"speaker":"Rafael Testai","startTime":1663.7,"endTime":1666.1,"body":"of the biggest things that I"},{"speaker":"Rafael Testai","startTime":1666.1,"endTime":1669.58,"body":"advocate, I talk about it on our"},{"speaker":"Rafael Testai","startTime":1666.1,"endTime":1669.58,"body":"podcast show all the time, I do"},{"speaker":"Rafael Testai","startTime":1669.61,"endTime":1672.07,"body":"guest speaking and all this"},{"speaker":"Rafael Testai","startTime":1669.61,"endTime":1672.07,"body":"stuff, I teach it to the masters"},{"speaker":"Rafael Testai","startTime":1672.07,"endTime":1675.1,"body":"energy engineering program,"},{"speaker":"Rafael Testai","startTime":1672.07,"endTime":1675.1,"body":"prior son where I teach. So"},{"speaker":"Rafael Testai","startTime":1675.37,"endTime":1677.9199999999998,"body":"look, one of the first things"},{"speaker":"Rafael Testai","startTime":1675.37,"endTime":1677.9199999999998,"body":"most important when you're in"},{"speaker":"Rafael Testai","startTime":1677.9199999999998,"endTime":1680.62,"body":"the even in the early thinking"},{"speaker":"Rafael Testai","startTime":1677.9199999999998,"endTime":1680.62,"body":"phase, when you're rough"},{"speaker":"Rafael Testai","startTime":1680.62,"endTime":1683.1399999999999,"body":"sketching or just ideating,"},{"speaker":"Rafael Testai","startTime":1680.62,"endTime":1683.1399999999999,"body":"writing down your notes,"},{"speaker":"Rafael Testai","startTime":1683.1399999999999,"endTime":1687.31,"body":"whatever you're doing. Your"},{"speaker":"Rafael Testai","startTime":1683.1399999999999,"endTime":1687.31,"body":"first product as a hardware"},{"speaker":"Rafael Testai","startTime":1687.31,"endTime":1692.3799999999999,"body":"startup, especially if you're"},{"speaker":"Rafael Testai","startTime":1687.31,"endTime":1692.3799999999999,"body":"cash crunched, is to keep it as"},{"speaker":"Rafael Testai","startTime":1692.4099999999999,"endTime":1697.4199999999998,"body":"absolutely simple, but high"},{"speaker":"Rafael Testai","startTime":1692.4099999999999,"endTime":1697.4199999999998,"body":"quality as possible. And by"},{"speaker":"Rafael Testai","startTime":1697.4199999999998,"endTime":1701.1699999999998,"body":"keeping the features simple,"},{"speaker":"Rafael Testai","startTime":1697.4199999999998,"endTime":1701.1699999999998,"body":"stripped down, highly focused,"},{"speaker":"Rafael Testai","startTime":1701.4099999999999,"endTime":1704.8899999999999,"body":"focusing on one target"},{"speaker":"Rafael Testai","startTime":1701.4099999999999,"endTime":1704.8899999999999,"body":"demographic only not trying to"},{"speaker":"Rafael Testai","startTime":1704.8899999999999,"endTime":1707.95,"body":"be everything to everyone for"},{"speaker":"Rafael Testai","startTime":1704.8899999999999,"endTime":1707.95,"body":"your first product, it allows"},{"speaker":"Rafael Testai","startTime":1707.95,"endTime":1711.31,"body":"you to use your resources to"},{"speaker":"Rafael Testai","startTime":1707.95,"endTime":1711.31,"body":"create quality. Because the more"},{"speaker":"Rafael Testai","startTime":1711.31,"endTime":1714.25,"body":"features you add, the more"},{"speaker":"Rafael Testai","startTime":1711.31,"endTime":1714.25,"body":"resources you need to make a"},{"speaker":"Rafael Testai","startTime":1714.25,"endTime":1717.28,"body":"great quality product. And it's"},{"speaker":"Rafael Testai","startTime":1714.25,"endTime":1717.28,"body":"almost it's not even like a"},{"speaker":"Rafael Testai","startTime":1717.28,"endTime":1719.9199999999998,"body":"direct correlation. Like, if you"},{"speaker":"Rafael Testai","startTime":1717.28,"endTime":1719.9199999999998,"body":"have a product with two"},{"speaker":"Rafael Testai","startTime":1719.9199999999998,"endTime":1723.9099999999999,"body":"features. And then try and go to"},{"speaker":"Rafael Testai","startTime":1719.9199999999998,"endTime":1723.9099999999999,"body":"a product with five features, it"},{"speaker":"Rafael Testai","startTime":1723.9099999999999,"endTime":1725.56,"body":"doesn't mean it's going to be"},{"speaker":"Rafael Testai","startTime":1723.9099999999999,"endTime":1725.56,"body":"two and a half times more"},{"speaker":"Rafael Testai","startTime":1725.56,"endTime":1728.08,"body":"expensive, that probably means"},{"speaker":"Rafael Testai","startTime":1725.56,"endTime":1728.08,"body":"it's going to be five or eight"},{"speaker":"Rafael Testai","startTime":1728.08,"endTime":1731.6799999999998,"body":"times more expensive. Because"},{"speaker":"Rafael Testai","startTime":1728.08,"endTime":1731.6799999999998,"body":"now you've got the compounding"},{"speaker":"Rafael Testai","startTime":1731.71,"endTime":1736.54,"body":"interacting elements to these"},{"speaker":"Rafael Testai","startTime":1731.71,"endTime":1736.54,"body":"features, which are creating"},{"speaker":"Rafael Testai","startTime":1736.57,"endTime":1740.05,"body":"exponentially more complicated"},{"speaker":"Rafael Testai","startTime":1736.57,"endTime":1740.05,"body":"in design, research,"},{"speaker":"Rafael Testai","startTime":1740.05,"endTime":1743.32,"body":"prototyping, manufacturing,"},{"speaker":"Rafael Testai","startTime":1740.05,"endTime":1743.32,"body":"defects, warranties, upset"},{"speaker":"Rafael Testai","startTime":1743.32,"endTime":1746.29,"body":"customers, you name it, one of"},{"speaker":"Rafael Testai","startTime":1743.32,"endTime":1746.29,"body":"the most difficult things for"},{"speaker":"Rafael Testai","startTime":1746.29,"endTime":1748.36,"body":"hardware startup to do is to"},{"speaker":"Rafael Testai","startTime":1746.29,"endTime":1748.36,"body":"really say, 'You know what,"},{"speaker":"Rafael Testai","startTime":1748.36,"endTime":1751.0,"body":"we've got all these great ideas,"},{"speaker":"Rafael Testai","startTime":1748.36,"endTime":1751.0,"body":"but let's just focus on what's"},{"speaker":"Rafael Testai","startTime":1751.03,"endTime":1754.57,"body":"really the one or two key"},{"speaker":"Rafael Testai","startTime":1751.03,"endTime":1754.57,"body":"features that is truly unique?'"},{"speaker":"Rafael Testai","startTime":1754.57,"endTime":1757.0,"body":"Like usually your idea of really"},{"speaker":"Rafael Testai","startTime":1754.57,"endTime":1757.0,"body":"comes down to one or two key"},{"speaker":"Rafael Testai","startTime":1757.0,"endTime":1760.1799999999998,"body":"things, all the other things is"},{"speaker":"Rafael Testai","startTime":1757.0,"endTime":1760.1799999999998,"body":"just the cherry on top. So"},{"speaker":"Rafael Testai","startTime":1760.1799999999998,"endTime":1765.07,"body":"focusing on your your high"},{"speaker":"Rafael Testai","startTime":1760.1799999999998,"endTime":1765.07,"body":"quality, I call it SMVP, smart,"},{"speaker":"Rafael Testai","startTime":1765.1,"endTime":1768.97,"body":"minimum viable product, meaning"},{"speaker":"Rafael Testai","startTime":1765.1,"endTime":1768.97,"body":"the simplified version, but at a"},{"speaker":"Rafael Testai","startTime":1768.97,"endTime":1772.84,"body":"high quality. And you do that"},{"speaker":"Rafael Testai","startTime":1768.97,"endTime":1772.84,"body":"with your first launch so that"},{"speaker":"Rafael Testai","startTime":1772.84,"endTime":1776.62,"body":"you keep your features. But"},{"speaker":"Rafael Testai","startTime":1772.84,"endTime":1776.62,"body":"essentially, you reduce feature"},{"speaker":"Rafael Testai","startTime":1776.62,"endTime":1779.08,"body":"creep, that allows you to come"},{"speaker":"Rafael Testai","startTime":1776.62,"endTime":1779.08,"body":"up with a great product. And"},{"speaker":"Rafael Testai","startTime":1779.08,"endTime":1781.0,"body":"yes, you're there's gonna be a"},{"speaker":"Rafael Testai","startTime":1779.08,"endTime":1781.0,"body":"big part of the market that"},{"speaker":"Rafael Testai","startTime":1781.0,"endTime":1783.28,"body":"you're missing whatever else,"},{"speaker":"Rafael Testai","startTime":1781.0,"endTime":1783.28,"body":"that's fine. But the people that"},{"speaker":"Rafael Testai","startTime":1783.28,"endTime":1786.82,"body":"you actually target, that you"},{"speaker":"Rafael Testai","startTime":1783.28,"endTime":1786.82,"body":"hit hard with that one key"},{"speaker":"Rafael Testai","startTime":1786.82,"endTime":1790.6599999999999,"body":"feature for that one person that"},{"speaker":"Rafael Testai","startTime":1786.82,"endTime":1790.6599999999999,"body":"that that one industry, that one"},{"speaker":"Rafael Testai","startTime":1790.69,"endTime":1793.69,"body":"segment, they are going to be"},{"speaker":"Rafael Testai","startTime":1790.69,"endTime":1793.69,"body":"very happy customers, you're"},{"speaker":"Rafael Testai","startTime":1793.69,"endTime":1796.06,"body":"going to learn from them and"},{"speaker":"Rafael Testai","startTime":1793.69,"endTime":1796.06,"body":"from others what your next"},{"speaker":"Rafael Testai","startTime":1796.06,"endTime":1799.57,"body":"feature should be, and so on. So"},{"speaker":"Rafael Testai","startTime":1796.06,"endTime":1799.57,"body":"that you can be very targeted"},{"speaker":"Rafael Testai","startTime":1799.57,"endTime":1802.3899999999999,"body":"and very efficient as a hardware"},{"speaker":"Rafael Testai","startTime":1799.57,"endTime":1802.3899999999999,"body":"startup, on what you're"},{"speaker":"Rafael Testai","startTime":1802.3899999999999,"endTime":1805.69,"body":"investing in what features"},{"speaker":"Rafael Testai","startTime":1802.3899999999999,"endTime":1805.69,"body":"really are important and what"},{"speaker":"Rafael Testai","startTime":1805.69,"endTime":1809.44,"body":"features are just wasting your"},{"speaker":"Rafael Testai","startTime":1805.69,"endTime":1809.44,"body":"money. And so I run a design"},{"speaker":"Rafael Testai","startTime":1809.44,"endTime":1812.8899999999999,"body":"firm, the more complicated a"},{"speaker":"Rafael Testai","startTime":1809.44,"endTime":1812.8899999999999,"body":"product is, the more money I"},{"speaker":"Rafael Testai","startTime":1812.8899999999999,"endTime":1817.4199999999998,"body":"make. And yet I heavily heavily"},{"speaker":"Rafael Testai","startTime":1812.8899999999999,"endTime":1817.4199999999998,"body":"advocate to our customers, keep"},{"speaker":"Rafael Testai","startTime":1817.4199999999998,"endTime":1820.72,"body":"your product as simple as"},{"speaker":"Rafael Testai","startTime":1817.4199999999998,"endTime":1820.72,"body":"possible, because I know that"},{"speaker":"Rafael Testai","startTime":1820.72,"endTime":1823.6299999999999,"body":"they keep it simple, keep it"},{"speaker":"Rafael Testai","startTime":1820.72,"endTime":1823.6299999999999,"body":"highly targeted, they have a"},{"speaker":"Rafael Testai","startTime":1823.6299999999999,"endTime":1826.06,"body":"much higher chance of success of"},{"speaker":"Rafael Testai","startTime":1823.6299999999999,"endTime":1826.06,"body":"getting into the market, it's"},{"speaker":"Rafael Testai","startTime":1826.06,"endTime":1828.9099999999999,"body":"much easier to sell, they'll hit"},{"speaker":"Rafael Testai","startTime":1826.06,"endTime":1828.9099999999999,"body":"that demographic harder and more"},{"speaker":"Rafael Testai","startTime":1828.9099999999999,"endTime":1831.46,"body":"of those people are likely to"},{"speaker":"Rafael Testai","startTime":1828.9099999999999,"endTime":1831.46,"body":"buy. And that will lead them to"},{"speaker":"Rafael Testai","startTime":1831.46,"endTime":1833.9199999999998,"body":"come back for their second,"},{"speaker":"Rafael Testai","startTime":1831.46,"endTime":1833.9199999999998,"body":"third, fourth, and so on as they"},{"speaker":"Rafael Testai","startTime":1833.9199999999998,"endTime":1836.77,"body":"really truly learn how to be"},{"speaker":"Rafael Testai","startTime":1833.9199999999998,"endTime":1836.77,"body":"efficient, and how to be smart"},{"speaker":"Rafael Testai","startTime":1836.77,"endTime":1839.26,"body":"about what features they add"},{"speaker":"Rafael Testai","startTime":1836.77,"endTime":1839.26,"body":"from there. So hopefully that"},{"speaker":"Rafael Testai","startTime":1839.26,"endTime":1842.6799999999998,"body":"makes sense. But it's really"},{"speaker":"Rafael Testai","startTime":1839.26,"endTime":1842.6799999999998,"body":"something that I've really asked"},{"speaker":"Rafael Testai","startTime":1842.6799999999998,"endTime":1846.1,"body":"everybody that's that's brewing"},{"speaker":"Rafael Testai","startTime":1842.6799999999998,"endTime":1846.1,"body":"in an idea or developing it to"},{"speaker":"Rafael Testai","startTime":1846.1,"endTime":1849.8799999999999,"body":"really think of that MVP, that"},{"speaker":"Rafael Testai","startTime":1846.1,"endTime":1849.8799999999999,"body":"first version, and thinking"},{"speaker":"Rafael Testai","startTime":1849.8799999999999,"endTime":1853.21,"body":"about how simple and clean it"},{"speaker":"Rafael Testai","startTime":1849.8799999999999,"endTime":1853.21,"body":"can be so that you can really"},{"speaker":"Rafael Testai","startTime":1853.21,"endTime":1854.35,"body":"nail it with quality."},{"speaker":"Rafael Testai","startTime":1855.01,"endTime":1857.5,"body":"Absolutely. And thank you for"},{"speaker":"Rafael Testai","startTime":1855.01,"endTime":1857.5,"body":"the compliment of asking good"},{"speaker":"Rafael Testai","startTime":1857.5,"endTime":1860.1699999999998,"body":"questions. I'd like to stay in"},{"speaker":"Rafael Testai","startTime":1857.5,"endTime":1860.1699999999998,"body":"the moment whenever I'm having a"},{"speaker":"Rafael Testai","startTime":1860.1699999999998,"endTime":1862.8999999999999,"body":"conversation with someone and"},{"speaker":"Rafael Testai","startTime":1860.1699999999998,"endTime":1862.8999999999999,"body":"just try to put myself in the"},{"speaker":"Rafael Testai","startTime":1862.8999999999999,"endTime":1866.3799999999999,"body":"shoes of whoever was we're"},{"speaker":"Rafael Testai","startTime":1862.8999999999999,"endTime":1866.3799999999999,"body":"talking about. So the inventor"},{"speaker":"Rafael Testai","startTime":1866.3799999999999,"endTime":1870.34,"body":"in that case, you said smart,"},{"speaker":"Rafael Testai","startTime":1866.3799999999999,"endTime":1870.34,"body":"minimum viable product, the S is"},{"speaker":"Rafael Testai","startTime":1870.34,"endTime":1871.4199999999998,"body":"for smart Is that right?"},{"speaker":"Kevin Mako","startTime":1871.75,"endTime":1872.35,"body":"Yes."},{"speaker":"Rafael Testai","startTime":1872.44,"endTime":1875.02,"body":"Okay. Yes, as"},{"speaker":"Rafael Testai","startTime":1872.44,"endTime":1875.02,"body":"many listeners may have heard"},{"speaker":"Rafael Testai","startTime":1875.02,"endTime":1879.31,"body":"that before, minimum viable"},{"speaker":"Rafael Testai","startTime":1875.02,"endTime":1879.31,"body":"product, MVP, it's very common"},{"speaker":"Rafael Testai","startTime":1879.31,"endTime":1881.8899999999999,"body":"term, but we had the smart in"},{"speaker":"Rafael Testai","startTime":1879.31,"endTime":1881.8899999999999,"body":"front of it, which I really"},{"speaker":"Rafael Testai","startTime":1881.8899999999999,"endTime":1882.07,"body":"liked."},{"speaker":"Rafael Testai","startTime":1882.31,"endTime":1884.8899999999999,"body":"And here's why I want to be"},{"speaker":"Rafael Testai","startTime":1882.31,"endTime":1884.8899999999999,"body":"specific on this one because you"},{"speaker":"Rafael Testai","startTime":1884.8899999999999,"endTime":1888.9099999999999,"body":"hear MVP around the software"},{"speaker":"Rafael Testai","startTime":1884.8899999999999,"endTime":1888.9099999999999,"body":"tech world, especially, and it's"},{"speaker":"Rafael Testai","startTime":1889.06,"endTime":1891.94,"body":"got a bit of a negative"},{"speaker":"Rafael Testai","startTime":1889.06,"endTime":1891.94,"body":"connotation, generally used used"},{"speaker":"Rafael Testai","startTime":1891.94,"endTime":1895.48,"body":"to somewhat mean, like release"},{"speaker":"Rafael Testai","startTime":1891.94,"endTime":1895.48,"body":"crap, just get the market,"},{"speaker":"Rafael Testai","startTime":1895.48,"endTime":1899.4099999999999,"body":"release some garbage, and then"},{"speaker":"Rafael Testai","startTime":1895.48,"endTime":1899.4099999999999,"body":"tweak and refine it after that,"},{"speaker":"Rafael Testai","startTime":1899.4099999999999,"endTime":1903.46,"body":"right, yeah. And that, and"},{"speaker":"Rafael Testai","startTime":1899.4099999999999,"endTime":1903.46,"body":"that's in hardware, it's, it's"},{"speaker":"Rafael Testai","startTime":1903.46,"endTime":1907.51,"body":"actually, if you release crap"},{"speaker":"Rafael Testai","startTime":1903.46,"endTime":1907.51,"body":"and just get to market fast, you"},{"speaker":"Rafael Testai","startTime":1907.51,"endTime":1912.01,"body":"will fish almost for sure fail."},{"speaker":"Rafael Testai","startTime":1907.51,"endTime":1912.01,"body":"Now, the reason we put the s in"},{"speaker":"Rafael Testai","startTime":1912.01,"endTime":1914.11,"body":"front of it is to really"},{"speaker":"Rafael Testai","startTime":1912.01,"endTime":1914.11,"body":"highlight, we still want to have"},{"speaker":"Rafael Testai","startTime":1914.11,"endTime":1918.85,"body":"that MVP focused, simple, clean,"},{"speaker":"Rafael Testai","startTime":1914.11,"endTime":1918.85,"body":"get to market quick. But by"},{"speaker":"Rafael Testai","startTime":1918.85,"endTime":1921.85,"body":"doing that, we're able to put"},{"speaker":"Rafael Testai","startTime":1918.85,"endTime":1921.85,"body":"more resources into fewer"},{"speaker":"Rafael Testai","startTime":1921.85,"endTime":1925.06,"body":"features, and thus make those"},{"speaker":"Rafael Testai","startTime":1921.85,"endTime":1925.06,"body":"features high quality, you heard"},{"speaker":"Rafael Testai","startTime":1925.06,"endTime":1927.34,"body":"me come around to that quality"},{"speaker":"Rafael Testai","startTime":1925.06,"endTime":1927.34,"body":"element a number of times, the"},{"speaker":"Rafael Testai","startTime":1927.37,"endTime":1930.28,"body":"only way you're going to have a"},{"speaker":"Rafael Testai","startTime":1927.37,"endTime":1930.28,"body":"quality product, especially as a"},{"speaker":"Rafael Testai","startTime":1930.28,"endTime":1934.8999999999999,"body":"limited resource startup, is by"},{"speaker":"Rafael Testai","startTime":1930.28,"endTime":1934.8999999999999,"body":"limiting your features. So you"},{"speaker":"Rafael Testai","startTime":1934.8999999999999,"endTime":1937.57,"body":"can spend more money more"},{"speaker":"Rafael Testai","startTime":1934.8999999999999,"endTime":1937.57,"body":"dollars per feature, it's as"},{"speaker":"Rafael Testai","startTime":1937.57,"endTime":1941.47,"body":"simple as that. And that is what"},{"speaker":"Rafael Testai","startTime":1937.57,"endTime":1941.47,"body":"creates quality, simplicity,"},{"speaker":"Rafael Testai","startTime":1941.5,"endTime":1945.07,"body":"quality, happy customers, then"},{"speaker":"Rafael Testai","startTime":1941.5,"endTime":1945.07,"body":"you can figure out how to scale"},{"speaker":"Rafael Testai","startTime":1945.07,"endTime":1946.8999999999999,"body":"from there, you can have your"},{"speaker":"Rafael Testai","startTime":1945.07,"endTime":1946.8999999999999,"body":"pro version, your premium"},{"speaker":"Rafael Testai","startTime":1946.8999999999999,"endTime":1950.4099999999999,"body":"version, your 2.0, whatever you"},{"speaker":"Rafael Testai","startTime":1946.8999999999999,"endTime":1950.4099999999999,"body":"want to call it, products and"},{"speaker":"Rafael Testai","startTime":1950.4099999999999,"endTime":1952.87,"body":"brands do that anyways, and plus"},{"speaker":"Rafael Testai","startTime":1950.4099999999999,"endTime":1952.87,"body":"a lot of the things that you"},{"speaker":"Rafael Testai","startTime":1952.87,"endTime":1955.36,"body":"want as features you're going to"},{"speaker":"Rafael Testai","startTime":1952.87,"endTime":1955.36,"body":"realize the clients didn't want."},{"speaker":"Rafael Testai","startTime":1955.54,"endTime":1958.3899999999999,"body":"And a lot of things a client did"},{"speaker":"Rafael Testai","startTime":1955.54,"endTime":1958.3899999999999,"body":"did want, you didn't even"},{"speaker":"Rafael Testai","startTime":1958.3899999999999,"endTime":1960.55,"body":"realize were an important"},{"speaker":"Rafael Testai","startTime":1958.3899999999999,"endTime":1960.55,"body":"feature. So when you come out"},{"speaker":"Rafael Testai","startTime":1960.55,"endTime":1962.62,"body":"with your next version, it's"},{"speaker":"Rafael Testai","startTime":1960.55,"endTime":1962.62,"body":"going to be much more educated"},{"speaker":"Rafael Testai","startTime":1962.62,"endTime":1965.5,"body":"anyways, because of that"},{"speaker":"Rafael Testai","startTime":1962.62,"endTime":1965.5,"body":"multifaceted review process from"},{"speaker":"Rafael Testai","startTime":1965.5,"endTime":1968.77,"body":"multiple different types of"},{"speaker":"Rafael Testai","startTime":1965.5,"endTime":1968.77,"body":"stakeholders to the product, not"},{"speaker":"Rafael Testai","startTime":1968.77,"endTime":1971.56,"body":"just you as the owner, or even"},{"speaker":"Rafael Testai","startTime":1968.77,"endTime":1971.56,"body":"not just us as a design firm."},{"speaker":"Rafael Testai","startTime":1971.74,"endTime":1973.75,"body":"It's all these other players,"},{"speaker":"Rafael Testai","startTime":1971.74,"endTime":1973.75,"body":"like your customers, your"},{"speaker":"Rafael Testai","startTime":1973.75,"endTime":1977.2,"body":"vendors, your other partners,"},{"speaker":"Rafael Testai","startTime":1973.75,"endTime":1977.2,"body":"etc, that really come together"},{"speaker":"Rafael Testai","startTime":1977.2,"endTime":1979.81,"body":"to figure out how you're going"},{"speaker":"Rafael Testai","startTime":1977.2,"endTime":1979.81,"body":"to grow the product features"},{"speaker":"Rafael Testai","startTime":1979.84,"endTime":1981.04,"body":"after your first launch."},{"speaker":"Rafael Testai","startTime":1981.52,"endTime":1984.61,"body":"This actually remind me of"},{"speaker":"Rafael Testai","startTime":1981.52,"endTime":1984.61,"body":"saying that we used to have when"},{"speaker":"Rafael Testai","startTime":1984.61,"endTime":1988.72,"body":"I developed my my mobile app"},{"speaker":"Rafael Testai","startTime":1984.61,"endTime":1988.72,"body":"that was called the Venky. When"},{"speaker":"Rafael Testai","startTime":1988.78,"endTime":1992.35,"body":"when people used to try it, and"},{"speaker":"Rafael Testai","startTime":1988.78,"endTime":1992.35,"body":"they want all these features,"},{"speaker":"Rafael Testai","startTime":1992.35,"endTime":1994.84,"body":"they give you everything that"},{"speaker":"Rafael Testai","startTime":1992.35,"endTime":1994.84,"body":"they wish for, and then it's"},{"speaker":"Rafael Testai","startTime":1994.84,"endTime":1998.4099999999999,"body":"hard. So you just give them the"},{"speaker":"Rafael Testai","startTime":1994.84,"endTime":1998.4099999999999,"body":"core features to get them done"},{"speaker":"Rafael Testai","startTime":1998.4099999999999,"endTime":2000.99,"body":"what they really need done. And"},{"speaker":"Rafael Testai","startTime":1998.4099999999999,"endTime":2000.99,"body":"then they'll ask you for the"},{"speaker":"Rafael Testai","startTime":2000.99,"endTime":2005.1599999999999,"body":"additional little feature. And I"},{"speaker":"Rafael Testai","startTime":2000.99,"endTime":2005.1599999999999,"body":"used to say MVP with a smirk on"},{"speaker":"Rafael Testai","startTime":2005.1599999999999,"endTime":2007.6799999999998,"body":"my face. And people understand,"},{"speaker":"Rafael Testai","startTime":2005.1599999999999,"endTime":2007.6799999999998,"body":"like, I'm just trying to give"},{"speaker":"Rafael Testai","startTime":2007.6799999999998,"endTime":2011.1599999999999,"body":"you the essential right now. And"},{"speaker":"Rafael Testai","startTime":2007.6799999999998,"endTime":2011.1599999999999,"body":"you'll be surprised how little"},{"speaker":"Rafael Testai","startTime":2011.1599999999999,"endTime":2014.01,"body":"you actually need to give them"},{"speaker":"Rafael Testai","startTime":2011.1599999999999,"endTime":2014.01,"body":"for them to be happy and get"},{"speaker":"Rafael Testai","startTime":2014.01,"endTime":2016.77,"body":"them to accomplish what they"},{"speaker":"Rafael Testai","startTime":2014.01,"endTime":2016.77,"body":"need to accomplish. Moving on to"},{"speaker":"Rafael Testai","startTime":2016.77,"endTime":2020.9099999999999,"body":"the next thing, you mentioned in"},{"speaker":"Rafael Testai","startTime":2016.77,"endTime":2020.9099999999999,"body":"the early stages, friends,"},{"speaker":"Rafael Testai","startTime":2020.9099999999999,"endTime":2023.55,"body":"people know you and trust, you"},{"speaker":"Rafael Testai","startTime":2020.9099999999999,"endTime":2023.55,"body":"may give you the first 10 and"},{"speaker":"Rafael Testai","startTime":2023.55,"endTime":2027.81,"body":"$20,000. My question is that"},{"speaker":"Rafael Testai","startTime":2023.55,"endTime":2027.81,"body":"people usually I've never heard"},{"speaker":"Rafael Testai","startTime":2027.81,"endTime":2030.4199999999998,"body":"anyone answer this. So you're"},{"speaker":"Rafael Testai","startTime":2027.81,"endTime":2030.4199999999998,"body":"going to have the platform to"},{"speaker":"Rafael Testai","startTime":2030.4199999999998,"endTime":2033.1499999999999,"body":"answer this. When a friend gives"},{"speaker":"Rafael Testai","startTime":2030.4199999999998,"endTime":2033.1499999999999,"body":"you money and you're the"},{"speaker":"Rafael Testai","startTime":2033.1499999999999,"endTime":2035.97,"body":"inventor, what does your friend"},{"speaker":"Rafael Testai","startTime":2033.1499999999999,"endTime":2035.97,"body":"get in exchange?"},{"speaker":"Rafael Testai","startTime":2036.57,"endTime":2039.81,"body":"You have to give them equity."},{"speaker":"Rafael Testai","startTime":2036.57,"endTime":2039.81,"body":"It's always an equity. Now, keep"},{"speaker":"Rafael Testai","startTime":2039.81,"endTime":2042.99,"body":"in mind in the beginning, when a"},{"speaker":"Rafael Testai","startTime":2039.81,"endTime":2042.99,"body":"lot of people when they have the"},{"speaker":"Rafael Testai","startTime":2042.99,"endTime":2045.8999999999999,"body":"idea, they try and reach out to"},{"speaker":"Rafael Testai","startTime":2042.99,"endTime":2045.8999999999999,"body":"institutional angel investors or"},{"speaker":"Rafael Testai","startTime":2045.8999999999999,"endTime":2047.52,"body":"whatever. And they say, 'Look,"},{"speaker":"Rafael Testai","startTime":2045.8999999999999,"endTime":2047.52,"body":"I've got this idea, it's going"},{"speaker":"Rafael Testai","startTime":2047.52,"endTime":2050.52,"body":"to change the world. That's what"},{"speaker":"Rafael Testai","startTime":2047.52,"endTime":2050.52,"body":"whatever else, I want 50,000 or"},{"speaker":"Rafael Testai","startTime":2050.52,"endTime":2053.7000000000003,"body":"100,000. And I'll give you half"},{"speaker":"Rafael Testai","startTime":2050.52,"endTime":2053.7000000000003,"body":"the company or whatever else,"},{"speaker":"Rafael Testai","startTime":2053.7000000000003,"endTime":2057.87,"body":"it's a very fair deal.' It"},{"speaker":"Rafael Testai","startTime":2053.7000000000003,"endTime":2057.87,"body":"doesn't work. Because you"},{"speaker":"Rafael Testai","startTime":2057.87,"endTime":2062.19,"body":"haven't, you haven't proven"},{"speaker":"Rafael Testai","startTime":2057.87,"endTime":2062.19,"body":"execution enough. It all comes"},{"speaker":"Rafael Testai","startTime":2062.19,"endTime":2065.58,"body":"down to execution. So when"},{"speaker":"Rafael Testai","startTime":2062.19,"endTime":2065.58,"body":"you're the reason we mentioned"},{"speaker":"Rafael Testai","startTime":2065.58,"endTime":2069.69,"body":"friends family, is because those"},{"speaker":"Rafael Testai","startTime":2065.58,"endTime":2069.69,"body":"and one of the things that I"},{"speaker":"Rafael Testai","startTime":2069.69,"endTime":2072.9,"body":"said earlier, which really is"},{"speaker":"Rafael Testai","startTime":2069.69,"endTime":2072.9,"body":"important when you are asking"},{"speaker":"Rafael Testai","startTime":2072.9,"endTime":2075.75,"body":"friends and family for money is"},{"speaker":"Rafael Testai","startTime":2072.9,"endTime":2075.75,"body":"first of all, you need to prove"},{"speaker":"Rafael Testai","startTime":2075.75,"endTime":2078.69,"body":"that you've done what you can,"},{"speaker":"Rafael Testai","startTime":2075.75,"endTime":2078.69,"body":"how far have you got it on your"},{"speaker":"Rafael Testai","startTime":2078.69,"endTime":2081.48,"body":"own, if you don't have a single"},{"speaker":"Rafael Testai","startTime":2078.69,"endTime":2081.48,"body":"dollar to put into it, you have"},{"speaker":"Rafael Testai","startTime":2081.48,"endTime":2085.05,"body":"time. So you should show that"},{"speaker":"Rafael Testai","startTime":2081.48,"endTime":2085.05,"body":"you've put a substantial amount"},{"speaker":"Rafael Testai","startTime":2085.05,"endTime":2087.93,"body":"of time into getting as far as"},{"speaker":"Rafael Testai","startTime":2085.05,"endTime":2087.93,"body":"you humanly can you're proving"},{"speaker":"Rafael Testai","startTime":2087.93,"endTime":2091.7999999999997,"body":"execution. When you go to those"},{"speaker":"Rafael Testai","startTime":2087.93,"endTime":2091.7999999999997,"body":"friends and family, they of"},{"speaker":"Rafael Testai","startTime":2091.7999999999997,"endTime":2094.98,"body":"course, you're telling them why"},{"speaker":"Rafael Testai","startTime":2091.7999999999997,"endTime":2094.98,"body":"your idea is so great. And"},{"speaker":"Rafael Testai","startTime":2094.98,"endTime":2097.6499999999996,"body":"that's part of it. But really,"},{"speaker":"Rafael Testai","startTime":2094.98,"endTime":2097.6499999999996,"body":"the bigger picture there is that"},{"speaker":"Rafael Testai","startTime":2097.6499999999996,"endTime":2101.31,"body":"they know you and they trust"},{"speaker":"Rafael Testai","startTime":2097.6499999999996,"endTime":2101.31,"body":"you. That's why they're really"},{"speaker":"Rafael Testai","startTime":2101.31,"endTime":2105.5699999999997,"body":"the only source of early stage"},{"speaker":"Rafael Testai","startTime":2101.31,"endTime":2105.5699999999997,"body":"revenue for you early stage"},{"speaker":"Rafael Testai","startTime":2105.5699999999997,"endTime":2111.66,"body":"revenue in terms of an investor,"},{"speaker":"Rafael Testai","startTime":2105.5699999999997,"endTime":2111.66,"body":"because it's people who know you"},{"speaker":"Rafael Testai","startTime":2111.66,"endTime":2114.93,"body":"and trust you that no, you know"},{"speaker":"Rafael Testai","startTime":2111.66,"endTime":2114.93,"body":"what, it's a good person, they"},{"speaker":"Rafael Testai","startTime":2114.93,"endTime":2118.14,"body":"they're reliable, whatever else."},{"speaker":"Rafael Testai","startTime":2114.93,"endTime":2118.14,"body":"So I'm going to give them a bit"},{"speaker":"Rafael Testai","startTime":2118.14,"endTime":2120.96,"body":"of money because I trust them"},{"speaker":"Rafael Testai","startTime":2118.14,"endTime":2120.96,"body":"that they're going to do what"},{"speaker":"Rafael Testai","startTime":2120.96,"endTime":2124.35,"body":"they say they're going to do. I"},{"speaker":"Rafael Testai","startTime":2120.96,"endTime":2124.35,"body":"know they're not an expert on"},{"speaker":"Rafael Testai","startTime":2124.35,"endTime":2127.23,"body":"products. I kind of like their"},{"speaker":"Rafael Testai","startTime":2124.35,"endTime":2127.23,"body":"idea. Or maybe I really like"},{"speaker":"Rafael Testai","startTime":2127.23,"endTime":2130.35,"body":"their idea. But I really trust"},{"speaker":"Rafael Testai","startTime":2127.23,"endTime":2130.35,"body":"them as a human being and the"},{"speaker":"Rafael Testai","startTime":2130.35,"endTime":2132.0299999999997,"body":"only person that you can do"},{"speaker":"Rafael Testai","startTime":2130.35,"endTime":2132.0299999999997,"body":"those people who've known you"},{"speaker":"Rafael Testai","startTime":2132.0299999999997,"endTime":2135.54,"body":"for many years. That's why"},{"speaker":"Rafael Testai","startTime":2132.0299999999997,"endTime":2135.54,"body":"people are very frustrated when"},{"speaker":"Rafael Testai","startTime":2135.54,"endTime":2137.82,"body":"they go and they reach out to"},{"speaker":"Rafael Testai","startTime":2135.54,"endTime":2137.82,"body":"institutional investors and"},{"speaker":"Rafael Testai","startTime":2137.82,"endTime":2140.7599999999998,"body":"wondered why they get shot down."},{"speaker":"Rafael Testai","startTime":2137.82,"endTime":2140.7599999999998,"body":"Even if their ideas incredible."},{"speaker":"Rafael Testai","startTime":2141.0299999999997,"endTime":2144.12,"body":"It's because they haven't proven"},{"speaker":"Rafael Testai","startTime":2141.0299999999997,"endTime":2144.12,"body":"the execution far enough. And"},{"speaker":"Rafael Testai","startTime":2144.12,"endTime":2146.85,"body":"that's why it really, it's key"},{"speaker":"Rafael Testai","startTime":2144.12,"endTime":2146.85,"body":"as well, when you're thinking"},{"speaker":"Rafael Testai","startTime":2146.85,"endTime":2149.52,"body":"about your friends and family."},{"speaker":"Rafael Testai","startTime":2146.85,"endTime":2149.52,"body":"You've got to go to people that"},{"speaker":"Rafael Testai","startTime":2149.52,"endTime":2151.68,"body":"you've really got a great"},{"speaker":"Rafael Testai","startTime":2149.52,"endTime":2151.68,"body":"tracker with that you've proven"},{"speaker":"Rafael Testai","startTime":2151.68,"endTime":2154.02,"body":"over and over that you're"},{"speaker":"Rafael Testai","startTime":2151.68,"endTime":2154.02,"body":"reliable person because they're"},{"speaker":"Rafael Testai","startTime":2154.02,"endTime":2157.23,"body":"trusting you with a great amount"},{"speaker":"Rafael Testai","startTime":2154.02,"endTime":2157.23,"body":"of money and they all they"},{"speaker":"Rafael Testai","startTime":2157.23,"endTime":2159.48,"body":"really want in return is of"},{"speaker":"Rafael Testai","startTime":2157.23,"endTime":2159.48,"body":"course they want they want their"},{"speaker":"Rafael Testai","startTime":2159.48,"endTime":2161.94,"body":"money back and they want"},{"speaker":"Rafael Testai","startTime":2159.48,"endTime":2161.94,"body":"something on top. But the"},{"speaker":"Rafael Testai","startTime":2161.94,"endTime":2164.73,"body":"reality is they want you to try"},{"speaker":"Rafael Testai","startTime":2161.94,"endTime":2164.73,"body":"their best they should"},{"speaker":"Rafael Testai","startTime":2164.73,"endTime":2168.57,"body":"understand it's a risky"},{"speaker":"Rafael Testai","startTime":2164.73,"endTime":2168.57,"body":"investment as any startup is."},{"speaker":"Rafael Testai","startTime":2168.9,"endTime":2171.9,"body":"But the reality is if you're not"},{"speaker":"Rafael Testai","startTime":2168.9,"endTime":2171.9,"body":"putting your best foot forward,"},{"speaker":"Rafael Testai","startTime":2172.2599999999998,"endTime":2174.84,"body":"you shouldn't be asking if you"},{"speaker":"Rafael Testai","startTime":2172.2599999999998,"endTime":2174.84,"body":"haven't put everything you've"},{"speaker":"Rafael Testai","startTime":2174.84,"endTime":2178.44,"body":"got into it both financially and"},{"speaker":"Rafael Testai","startTime":2174.84,"endTime":2178.44,"body":"personally into it. How can you"},{"speaker":"Rafael Testai","startTime":2178.62,"endTime":2182.97,"body":"ask somebody that you that you"},{"speaker":"Rafael Testai","startTime":2178.62,"endTime":2182.97,"body":"trust or the trust you for money"},{"speaker":"Rafael Testai","startTime":2182.97,"endTime":2185.4,"body":"if you're not even willing to"},{"speaker":"Rafael Testai","startTime":2182.97,"endTime":2185.4,"body":"put in either your own money or"},{"speaker":"Rafael Testai","startTime":2185.4,"endTime":2189.0,"body":"your on time, so that comes back"},{"speaker":"Rafael Testai","startTime":2185.4,"endTime":2189.0,"body":"to like your effort, your"},{"speaker":"Rafael Testai","startTime":2189.0,"endTime":2192.0,"body":"credibility, all that stuff. And"},{"speaker":"Rafael Testai","startTime":2189.0,"endTime":2192.0,"body":"that's why those early phases,"},{"speaker":"Rafael Testai","startTime":2192.0,"endTime":2195.12,"body":"it's either on you, which is"},{"speaker":"Rafael Testai","startTime":2192.0,"endTime":2195.12,"body":"what most people do, they save"},{"speaker":"Rafael Testai","startTime":2195.12,"endTime":2198.2999999999997,"body":"until they can at least get some"},{"speaker":"Rafael Testai","startTime":2195.12,"endTime":2198.2999999999997,"body":"early results, early execution,"},{"speaker":"Rafael Testai","startTime":2198.2999999999997,"endTime":2201.84,"body":"get into design or prototyping"},{"speaker":"Rafael Testai","startTime":2198.2999999999997,"endTime":2201.84,"body":"or whatever else. Or if they"},{"speaker":"Rafael Testai","startTime":2201.84,"endTime":2204.39,"body":"really can't do anything, but"},{"speaker":"Rafael Testai","startTime":2201.84,"endTime":2204.39,"body":"they have people to trust them,"},{"speaker":"Rafael Testai","startTime":2204.39,"endTime":2205.11,"body":"they go to that"},{"speaker":"Rafael Testai","startTime":2205.2,"endTime":2206.85,"body":"Can ask you something before I"},{"speaker":"Rafael Testai","startTime":2205.2,"endTime":2206.85,"body":"forget?"},{"speaker":"Kevin Mako","startTime":2206.97,"endTime":2207.21,"body":"Yes"},{"speaker":"Rafael Testai","startTime":2207.21,"endTime":2209.49,"body":"I really need to"},{"speaker":"Rafael Testai","startTime":2207.21,"endTime":2209.49,"body":"ask you so when, let's say my"},{"speaker":"Rafael Testai","startTime":2209.49,"endTime":2212.34,"body":"friend is Bob, and I'm the"},{"speaker":"Rafael Testai","startTime":2209.49,"endTime":2212.34,"body":"inventor, Bob knows me for a"},{"speaker":"Rafael Testai","startTime":2212.34,"endTime":2215.19,"body":"long time I say, Bob, can you"},{"speaker":"Rafael Testai","startTime":2212.34,"endTime":2215.19,"body":"give me 10 grand, so I can"},{"speaker":"Rafael Testai","startTime":2215.19,"endTime":2218.16,"body":"further develop my idea, he"},{"speaker":"Rafael Testai","startTime":2215.19,"endTime":2218.16,"body":"trusts me, he gives me a 10"},{"speaker":"Rafael Testai","startTime":2218.16,"endTime":2222.96,"body":"grand, but you said my friend,"},{"speaker":"Rafael Testai","startTime":2218.16,"endTime":2222.96,"body":"in exchange of the equity, what"},{"speaker":"Rafael Testai","startTime":2222.96,"endTime":2225.96,"body":"does equity mean? And you give"},{"speaker":"Rafael Testai","startTime":2222.96,"endTime":2225.96,"body":"an example that they expect,"},{"speaker":"Rafael Testai","startTime":2225.96,"endTime":2228.96,"body":"your friend expects to get their"},{"speaker":"Rafael Testai","startTime":2225.96,"endTime":2228.96,"body":"money back, and a little bit on"},{"speaker":"Rafael Testai","startTime":2228.96,"endTime":2232.71,"body":"top. And if that's the case,"},{"speaker":"Rafael Testai","startTime":2228.96,"endTime":2232.71,"body":"then why give equity, why not"},{"speaker":"Rafael Testai","startTime":2232.71,"endTime":2236.4,"body":"just tell Bob, I'm gonna give"},{"speaker":"Rafael Testai","startTime":2232.71,"endTime":2236.4,"body":"you back 15 grand, within a"},{"speaker":"Rafael Testai","startTime":2236.4,"endTime":2237.48,"body":"year, if this works out."},{"speaker":"Rafael Testai","startTime":2238.23,"endTime":2241.65,"body":"For you, one of the things"},{"speaker":"Rafael Testai","startTime":2238.23,"endTime":2241.65,"body":"you've got to think about in"},{"speaker":"Rafael Testai","startTime":2241.65,"endTime":2244.14,"body":"terms of equity at the early"},{"speaker":"Rafael Testai","startTime":2241.65,"endTime":2244.14,"body":"phases is a lot of people want"},{"speaker":"Rafael Testai","startTime":2244.14,"endTime":2248.7,"body":"to give it up early. You've got,"},{"speaker":"Rafael Testai","startTime":2244.14,"endTime":2248.7,"body":"we see it all the time, where"},{"speaker":"Rafael Testai","startTime":2248.7,"endTime":2252.2999999999997,"body":"inventors like, Look, I'll give"},{"speaker":"Rafael Testai","startTime":2248.7,"endTime":2252.2999999999997,"body":"half half of it away for 25"},{"speaker":"Rafael Testai","startTime":2252.2999999999997,"endTime":2254.88,"body":"grand if I can get it right now"},{"speaker":"Rafael Testai","startTime":2252.2999999999997,"endTime":2254.88,"body":"cuz it's better than better than"},{"speaker":"Rafael Testai","startTime":2254.88,"endTime":2258.48,"body":"nothing. But the reality is,"},{"speaker":"Rafael Testai","startTime":2254.88,"endTime":2258.48,"body":"that's going to be especially if"},{"speaker":"Rafael Testai","startTime":2258.48,"endTime":2260.67,"body":"this product becomes successful,"},{"speaker":"Rafael Testai","startTime":2258.48,"endTime":2260.67,"body":"that is going to be"},{"speaker":"Rafael Testai","startTime":2260.67,"endTime":2265.95,"body":"exponentially the most, the most"},{"speaker":"Rafael Testai","startTime":2260.67,"endTime":2265.95,"body":"expensive money you have ever"},{"speaker":"Rafael Testai","startTime":2265.95,"endTime":2270.33,"body":"got. As an investor. I and I've"},{"speaker":"Rafael Testai","startTime":2265.95,"endTime":2270.33,"body":"seen it numerous times when it's"},{"speaker":"Rafael Testai","startTime":2270.33,"endTime":2272.88,"body":"easy in the idea phase, it"},{"speaker":"Rafael Testai","startTime":2270.33,"endTime":2272.88,"body":"doesn't seem like it's worth a"},{"speaker":"Rafael Testai","startTime":2272.88,"endTime":2275.52,"body":"lot. But it is because in your"},{"speaker":"Rafael Testai","startTime":2272.88,"endTime":2275.52,"body":"life, you're only going to have"},{"speaker":"Rafael Testai","startTime":2275.52,"endTime":2278.67,"body":"one, two, maybe three"},{"speaker":"Rafael Testai","startTime":2275.52,"endTime":2278.67,"body":"opportunities, I would say,"},{"speaker":"Rafael Testai","startTime":2278.67,"endTime":2280.44,"body":"especially as a hardware"},{"speaker":"Rafael Testai","startTime":2278.67,"endTime":2280.44,"body":"invention, where you're truly"},{"speaker":"Rafael Testai","startTime":2280.44,"endTime":2283.14,"body":"going to come up with with an"},{"speaker":"Rafael Testai","startTime":2280.44,"endTime":2283.14,"body":"invention idea. That is, that is"},{"speaker":"Rafael Testai","startTime":2283.14,"endTime":2286.7999999999997,"body":"revolutionary. And when you come"},{"speaker":"Rafael Testai","startTime":2283.14,"endTime":2286.7999999999997,"body":"up with that idea, that's your"},{"speaker":"Rafael Testai","startTime":2286.83,"endTime":2289.2,"body":"let's call it, let's assume it's"},{"speaker":"Rafael Testai","startTime":2286.83,"endTime":2289.2,"body":"the only one you're going to get"},{"speaker":"Rafael Testai","startTime":2289.2,"endTime":2293.04,"body":"in your life, and you give half"},{"speaker":"Rafael Testai","startTime":2289.2,"endTime":2293.04,"body":"of it away for for some amount"},{"speaker":"Rafael Testai","startTime":2293.04,"endTime":2295.86,"body":"of money, whatever it might be,"},{"speaker":"Rafael Testai","startTime":2293.04,"endTime":2295.86,"body":"when that product ends up"},{"speaker":"Rafael Testai","startTime":2295.86,"endTime":2298.95,"body":"starting to sell hundreds of"},{"speaker":"Rafael Testai","startTime":2295.86,"endTime":2298.95,"body":"1000s or millions of dollars"},{"speaker":"Rafael Testai","startTime":2298.98,"endTime":2301.98,"body":"worth worth of inventory. And"},{"speaker":"Rafael Testai","startTime":2298.98,"endTime":2301.98,"body":"you're trying to raise your next"},{"speaker":"Rafael Testai","startTime":2301.98,"endTime":2304.14,"body":"funding round, because you want"},{"speaker":"Rafael Testai","startTime":2301.98,"endTime":2304.14,"body":"to raise a million or $2 million"},{"speaker":"Rafael Testai","startTime":2304.41,"endTime":2307.86,"body":"to scale. But you've already"},{"speaker":"Rafael Testai","startTime":2304.41,"endTime":2307.86,"body":"given away 50% of your business,"},{"speaker":"Rafael Testai","startTime":2308.0099999999998,"endTime":2312.42,"body":"it's going to be very difficult"},{"speaker":"Rafael Testai","startTime":2308.0099999999998,"endTime":2312.42,"body":"to to raise that money and keep"},{"speaker":"Rafael Testai","startTime":2312.45,"endTime":2315.09,"body":"almost anything for yourself,"},{"speaker":"Rafael Testai","startTime":2312.45,"endTime":2315.09,"body":"especially if you go through two"},{"speaker":"Rafael Testai","startTime":2315.09,"endTime":2318.42,"body":"or three rounds of financing."},{"speaker":"Rafael Testai","startTime":2315.09,"endTime":2318.42,"body":"Right, maybe you go through a"},{"speaker":"Rafael Testai","startTime":2318.42,"endTime":2321.2999999999997,"body":"round a prototyping, then again,"},{"speaker":"Rafael Testai","startTime":2318.42,"endTime":2321.2999999999997,"body":"around a scale, and then maybe a"},{"speaker":"Rafael Testai","startTime":2321.2999999999997,"endTime":2325.5,"body":"big round, as you get into,"},{"speaker":"Rafael Testai","startTime":2321.2999999999997,"endTime":2325.5,"body":"early series rounds. If you've"},{"speaker":"Rafael Testai","startTime":2325.5,"endTime":2329.37,"body":"already given away most of it"},{"speaker":"Rafael Testai","startTime":2325.5,"endTime":2329.37,"body":"right out of the gate, then"},{"speaker":"Rafael Testai","startTime":2329.4,"endTime":2331.98,"body":"you're in trouble. So you really"},{"speaker":"Rafael Testai","startTime":2329.4,"endTime":2331.98,"body":"have to reflect personally be"},{"speaker":"Rafael Testai","startTime":2331.98,"endTime":2334.23,"body":"like is this something I want to"},{"speaker":"Rafael Testai","startTime":2331.98,"endTime":2334.23,"body":"invest in because the further"},{"speaker":"Rafael Testai","startTime":2334.23,"endTime":2337.71,"body":"that you can push it yourself,"},{"speaker":"Rafael Testai","startTime":2334.23,"endTime":2337.71,"body":"the much more valuable the"},{"speaker":"Rafael Testai","startTime":2337.71,"endTime":2341.13,"body":"business becomes. But also the"},{"speaker":"Rafael Testai","startTime":2337.71,"endTime":2341.13,"body":"much more equity you have a much"},{"speaker":"Rafael Testai","startTime":2341.13,"endTime":2344.22,"body":"more valuable position to offer"},{"speaker":"Rafael Testai","startTime":2341.13,"endTime":2344.22,"body":"down the road. So even if you're"},{"speaker":"Rafael Testai","startTime":2344.22,"endTime":2348.18,"body":"going to go to your share your"},{"speaker":"Rafael Testai","startTime":2344.22,"endTime":2348.18,"body":"cousin Bob, and ask for that"},{"speaker":"Rafael Testai","startTime":2348.21,"endTime":2352.17,"body":"$10,000. But you can get it"},{"speaker":"Rafael Testai","startTime":2348.21,"endTime":2352.17,"body":"there yourself, you're probably"},{"speaker":"Rafael Testai","startTime":2352.17,"endTime":2355.59,"body":"better to go get it designed,"},{"speaker":"Rafael Testai","startTime":2352.17,"endTime":2355.59,"body":"get it to a point where it's"},{"speaker":"Rafael Testai","startTime":2355.59,"endTime":2358.11,"body":"maybe worth something or"},{"speaker":"Rafael Testai","startTime":2355.59,"endTime":2358.11,"body":"whatever else, then maybe come"},{"speaker":"Rafael Testai","startTime":2358.11,"endTime":2361.23,"body":"back to Bob and instead of"},{"speaker":"Rafael Testai","startTime":2358.11,"endTime":2361.23,"body":"offering them 50% equity for 10"},{"speaker":"Rafael Testai","startTime":2361.23,"endTime":2363.72,"body":"grand you offer him 5% for 10"},{"speaker":"Rafael Testai","startTime":2361.23,"endTime":2363.72,"body":"grand, because the thing's"},{"speaker":"Rafael Testai","startTime":2363.72,"endTime":2366.21,"body":"already designed, you're ready"},{"speaker":"Rafael Testai","startTime":2363.72,"endTime":2366.21,"body":"to go into prototyping, you've"},{"speaker":"Rafael Testai","startTime":2366.21,"endTime":2368.88,"body":"already figured out the"},{"speaker":"Rafael Testai","startTime":2366.21,"endTime":2368.88,"body":"technology, you've already done"},{"speaker":"Rafael Testai","startTime":2368.88,"endTime":2370.83,"body":"a whole bunch of things in and"},{"speaker":"Rafael Testai","startTime":2368.88,"endTime":2370.83,"body":"around the research and the"},{"speaker":"Rafael Testai","startTime":2370.83,"endTime":2374.5499999999997,"body":"market and all this stuff. Now"},{"speaker":"Rafael Testai","startTime":2370.83,"endTime":2374.5499999999997,"body":"you come back with something"},{"speaker":"Rafael Testai","startTime":2374.5499999999997,"endTime":2378.36,"body":"that's half in development, and"},{"speaker":"Rafael Testai","startTime":2374.5499999999997,"endTime":2378.36,"body":"asking for money for something"},{"speaker":"Rafael Testai","startTime":2378.36,"endTime":2381.09,"body":"that you've shown execution on"},{"speaker":"Rafael Testai","startTime":2378.36,"endTime":2381.09,"body":"as opposed to just an idea,"},{"speaker":"Rafael Testai","startTime":2381.21,"endTime":2383.85,"body":"which people aren't going to"},{"speaker":"Rafael Testai","startTime":2381.21,"endTime":2383.85,"body":"give you much for much equity."},{"speaker":"Rafael Testai","startTime":2384.0,"endTime":2385.92,"body":"Unless of course, like you"},{"speaker":"Rafael Testai","startTime":2384.0,"endTime":2385.92,"body":"mentioned, you can structure"},{"speaker":"Rafael Testai","startTime":2385.92,"endTime":2388.5299999999997,"body":"some, some lucky deal with"},{"speaker":"Rafael Testai","startTime":2385.92,"endTime":2388.5299999999997,"body":"somebody who really trusts you"},{"speaker":"Rafael Testai","startTime":2388.5299999999997,"endTime":2391.92,"body":"and some other financial"},{"speaker":"Rafael Testai","startTime":2388.5299999999997,"endTime":2391.92,"body":"arrangement, like a certain"},{"speaker":"Rafael Testai","startTime":2391.92,"endTime":2396.15,"body":"return or whatever else. But"},{"speaker":"Rafael Testai","startTime":2391.92,"endTime":2396.15,"body":"that that all depends on on what"},{"speaker":"Rafael Testai","startTime":2396.15,"endTime":2398.5499999999997,"body":"you want to do. But most"},{"speaker":"Rafael Testai","startTime":2396.15,"endTime":2398.5499999999997,"body":"importantly think about it, the"},{"speaker":"Rafael Testai","startTime":2398.5499999999997,"endTime":2402.15,"body":"longer you can push off giving"},{"speaker":"Rafael Testai","startTime":2398.5499999999997,"endTime":2402.15,"body":"away equity, the less equity you"},{"speaker":"Rafael Testai","startTime":2402.15,"endTime":2404.2799999999997,"body":"have to give away and the more"},{"speaker":"Rafael Testai","startTime":2402.15,"endTime":2404.2799999999997,"body":"money you will get for that"},{"speaker":"Rafael Testai","startTime":2404.2799999999997,"endTime":2406.14,"body":"equity as you scale the"},{"speaker":"Rafael Testai","startTime":2404.2799999999997,"endTime":2406.14,"body":"business."},{"speaker":"Rafael Testai","startTime":2406.41,"endTime":2410.1,"body":"Well said this seems like a good"},{"speaker":"Rafael Testai","startTime":2406.41,"endTime":2410.1,"body":"place for a quick pause to share"},{"speaker":"Rafael Testai","startTime":2410.1,"endTime":2413.91,"body":"with our listeners that"},{"speaker":"Rafael Testai","startTime":2410.1,"endTime":2413.91,"body":"teampipeline.us is where you can"},{"speaker":"Rafael Testai","startTime":2413.91,"endTime":2418.2599999999998,"body":"learn more about how we develop"},{"speaker":"Rafael Testai","startTime":2413.91,"endTime":2418.2599999999998,"body":"how we can help medical device"},{"speaker":"Rafael Testai","startTime":2418.29,"endTime":2421.5299999999997,"body":"and other product engineering or"},{"speaker":"Rafael Testai","startTime":2418.29,"endTime":2421.5299999999997,"body":"manufacturing teams develop"},{"speaker":"Rafael Testai","startTime":2421.5299999999997,"endTime":2425.13,"body":"turnkey equipment, custom"},{"speaker":"Rafael Testai","startTime":2421.5299999999997,"endTime":2425.13,"body":"fixtures and automated machines"},{"speaker":"Rafael Testai","startTime":2425.13,"endTime":2428.94,"body":"to characterize inspect at"},{"speaker":"Rafael Testai","startTime":2425.13,"endTime":2428.94,"body":"symbol manufacturer and perform"},{"speaker":"Rafael Testai","startTime":2428.97,"endTime":2432.66,"body":"verification testing on your"},{"speaker":"Rafael Testai","startTime":2428.97,"endTime":2432.66,"body":"devices. Now here we are with"},{"speaker":"Rafael Testai","startTime":2432.66,"endTime":2438.06,"body":"Kevin Mako and have two more"},{"speaker":"Rafael Testai","startTime":2432.66,"endTime":2438.06,"body":"questions left. So you run a"},{"speaker":"Rafael Testai","startTime":2438.09,"endTime":2441.84,"body":"design firm, as we have just"},{"speaker":"Rafael Testai","startTime":2438.09,"endTime":2441.84,"body":"mentioned before an invention"},{"speaker":"Rafael Testai","startTime":2441.84,"endTime":2447.09,"body":"firm. And my question is, do you"},{"speaker":"Rafael Testai","startTime":2441.84,"endTime":2447.09,"body":"ever get tempted to launch your"},{"speaker":"Rafael Testai","startTime":2447.09,"endTime":2448.7999999999997,"body":"own ideas in house?"},{"speaker":"Kevin Mako","startTime":2450.27,"endTime":2453.0,"body":"Yeah, tempted on it"},{"speaker":"Kevin Mako","startTime":2450.27,"endTime":2453.0,"body":"on a daily basis? That's for"},{"speaker":"Kevin Mako","startTime":2453.0,"endTime":2457.5299999999997,"body":"sure. One of the things that we"},{"speaker":"Kevin Mako","startTime":2453.0,"endTime":2457.5299999999997,"body":"did early on, is is because we"},{"speaker":"Kevin Mako","startTime":2457.5299999999997,"endTime":2462.21,"body":"get 1000s of inquiries a year."},{"speaker":"Kevin Mako","startTime":2457.5299999999997,"endTime":2462.21,"body":"We from that we work on hundreds"},{"speaker":"Kevin Mako","startTime":2462.21,"endTime":2465.27,"body":"of projects. And one of the"},{"speaker":"Kevin Mako","startTime":2462.21,"endTime":2465.27,"body":"things we did early on is said"},{"speaker":"Kevin Mako","startTime":2465.27,"endTime":2469.98,"body":"that we will never take a piece"},{"speaker":"Kevin Mako","startTime":2465.27,"endTime":2469.98,"body":"of equity in any product ever."},{"speaker":"Kevin Mako","startTime":2470.97,"endTime":2473.7,"body":"We are in a bit of a unique"},{"speaker":"Kevin Mako","startTime":2470.97,"endTime":2473.7,"body":"situation where we do sometimes"},{"speaker":"Kevin Mako","startTime":2473.7,"endTime":2475.98,"body":"we've got people who've come to"},{"speaker":"Kevin Mako","startTime":2473.7,"endTime":2475.98,"body":"us like they've been sitting on"},{"speaker":"Kevin Mako","startTime":2475.98,"endTime":2479.52,"body":"their their like idea for like"},{"speaker":"Kevin Mako","startTime":2475.98,"endTime":2479.52,"body":"10 years never told a soul right"},{"speaker":"Kevin Mako","startTime":2479.52,"endTime":2481.02,"body":"and they're finally ready to do"},{"speaker":"Kevin Mako","startTime":2479.52,"endTime":2481.02,"body":"something."},{"speaker":"Rafael Testai","startTime":2481.56,"endTime":2482.82,"body":"They're shaking"},{"speaker":"Rafael Testai","startTime":2481.56,"endTime":2482.82,"body":"when they tell you they're like"},{"speaker":"Rafael Testai","startTime":2482.82,"endTime":2485.19,"body":"They're like, can we trust you?"},{"speaker":"Rafael Testai","startTime":2482.82,"endTime":2485.19,"body":"So we've tried to go, be old"},{"speaker":"Rafael Testai","startTime":2485.4,"endTime":2488.58,"body":"over the top, like almost"},{"speaker":"Rafael Testai","startTime":2485.4,"endTime":2488.58,"body":"unnecessarily above the top"},{"speaker":"Rafael Testai","startTime":2488.58,"endTime":2491.16,"body":"ethical in terms of how we"},{"speaker":"Rafael Testai","startTime":2488.58,"endTime":2491.16,"body":"manage everything in the firm."},{"speaker":"Rafael Testai","startTime":2491.16,"endTime":2494.82,"body":"So nobody in the firm can even"},{"speaker":"Rafael Testai","startTime":2491.16,"endTime":2494.82,"body":"invest in a hardware startup or"},{"speaker":"Rafael Testai","startTime":2494.82,"endTime":2498.5099999999998,"body":"in a hardware company, just to"},{"speaker":"Rafael Testai","startTime":2494.82,"endTime":2498.5099999999998,"body":"be absolutely crystal sure that"},{"speaker":"Rafael Testai","startTime":2498.7799999999997,"endTime":2501.87,"body":"there is never a conflict of"},{"speaker":"Rafael Testai","startTime":2498.7799999999997,"endTime":2501.87,"body":"interest. And we are always 100%"},{"speaker":"Rafael Testai","startTime":2502.2,"endTime":2506.19,"body":"working for the clients benefit"},{"speaker":"Rafael Testai","startTime":2502.2,"endTime":2506.19,"body":"for their product, period."},{"speaker":"Rafael Testai","startTime":2506.46,"endTime":2510.66,"body":"Right. So, yeah, it's tempting"},{"speaker":"Rafael Testai","startTime":2506.46,"endTime":2510.66,"body":"to do our own, it's tempting to"},{"speaker":"Rafael Testai","startTime":2510.66,"endTime":2513.87,"body":"partner up, we get offered free"},{"speaker":"Rafael Testai","startTime":2510.66,"endTime":2513.87,"body":"equity constantly, we have to"},{"speaker":"Rafael Testai","startTime":2513.87,"endTime":2516.66,"body":"turn it down because of this,"},{"speaker":"Rafael Testai","startTime":2513.87,"endTime":2516.66,"body":"this principle that we abide by."},{"speaker":"Rafael Testai","startTime":2517.86,"endTime":2521.64,"body":"So it's just it's an it's an"},{"speaker":"Rafael Testai","startTime":2517.86,"endTime":2521.64,"body":"almost unfortunate one ways,"},{"speaker":"Rafael Testai","startTime":2521.64,"endTime":2524.2799999999997,"body":"because yeah, we could have made"},{"speaker":"Rafael Testai","startTime":2521.64,"endTime":2524.2799999999997,"body":"a lot of money on a lot of"},{"speaker":"Rafael Testai","startTime":2524.2799999999997,"endTime":2527.7,"body":"projects. But on the other hand,"},{"speaker":"Rafael Testai","startTime":2524.2799999999997,"endTime":2527.7,"body":"we're, we love what we do, it's,"},{"speaker":"Rafael Testai","startTime":2527.7,"endTime":2530.94,"body":"it's a great job. And we're"},{"speaker":"Rafael Testai","startTime":2527.7,"endTime":2530.94,"body":"doing well now. And we don't, we"},{"speaker":"Rafael Testai","startTime":2530.94,"endTime":2533.1,"body":"have no complaints. So we just"},{"speaker":"Rafael Testai","startTime":2530.94,"endTime":2533.1,"body":"want to really more than"},{"speaker":"Rafael Testai","startTime":2533.1,"endTime":2535.71,"body":"anything else, we just want to"},{"speaker":"Rafael Testai","startTime":2533.1,"endTime":2535.71,"body":"do more of the business model"},{"speaker":"Rafael Testai","startTime":2535.71,"endTime":2538.29,"body":"that we have today, we want to"},{"speaker":"Rafael Testai","startTime":2535.71,"endTime":2538.29,"body":"do it in more locations, and"},{"speaker":"Rafael Testai","startTime":2538.29,"endTime":2541.92,"body":"more places, more accessible to"},{"speaker":"Rafael Testai","startTime":2538.29,"endTime":2541.92,"body":"more people. And that's it,"},{"speaker":"Rafael Testai","startTime":2541.92,"endTime":2544.11,"body":"right, we don't really want to"},{"speaker":"Rafael Testai","startTime":2541.92,"endTime":2544.11,"body":"change the model at this point,"},{"speaker":"Rafael Testai","startTime":2544.14,"endTime":2549.39,"body":"we just want to continue to do"},{"speaker":"Rafael Testai","startTime":2544.14,"endTime":2549.39,"body":"what we do and, and just grow"},{"speaker":"Rafael Testai","startTime":2549.39,"endTime":2550.44,"body":"the reach of it."},{"speaker":"Rafael Testai","startTime":2551.04,"endTime":2553.89,"body":"So if I understand correctly,"},{"speaker":"Rafael Testai","startTime":2551.04,"endTime":2553.89,"body":"founders have offered you equity"},{"speaker":"Rafael Testai","startTime":2553.89,"endTime":2555.81,"body":"to work on their product, and"},{"speaker":"Rafael Testai","startTime":2553.89,"endTime":2555.81,"body":"you've turned it down, is that"},{"speaker":"Rafael Testai","startTime":2555.81,"endTime":2556.2599999999998,"body":"correct?"},{"speaker":"Rafael Testai","startTime":2556.5299999999997,"endTime":2558.87,"body":"To work on it for sure. But even"},{"speaker":"Rafael Testai","startTime":2556.5299999999997,"endTime":2558.87,"body":"like later stage, people be"},{"speaker":"Rafael Testai","startTime":2558.87,"endTime":2560.94,"body":"like, 'Oh, man, this is awesome."},{"speaker":"Rafael Testai","startTime":2558.87,"endTime":2560.94,"body":"We did well, like here, we're"},{"speaker":"Rafael Testai","startTime":2560.94,"endTime":2565.38,"body":"going to give you guys 2% or 5%,"},{"speaker":"Rafael Testai","startTime":2560.94,"endTime":2565.38,"body":"or something like that as as a"},{"speaker":"Rafael Testai","startTime":2565.38,"endTime":2568.5,"body":"thank you for the work or"},{"speaker":"Rafael Testai","startTime":2565.38,"endTime":2568.5,"body":"whatever else.' And we just say"},{"speaker":"Rafael Testai","startTime":2568.5299999999997,"endTime":2571.83,"body":"that, obviously, it's it's a"},{"speaker":"Rafael Testai","startTime":2568.5299999999997,"endTime":2571.83,"body":"it's a massive compliment. But"},{"speaker":"Rafael Testai","startTime":2572.79,"endTime":2575.85,"body":"we've never taken it. And we"},{"speaker":"Rafael Testai","startTime":2572.79,"endTime":2575.85,"body":"just simply say, just bring us"},{"speaker":"Rafael Testai","startTime":2576.18,"endTime":2581.37,"body":"keep in mind if you do the next"},{"speaker":"Rafael Testai","startTime":2576.18,"endTime":2581.37,"body":"project. Right. And, it's a"},{"speaker":"Rafael Testai","startTime":2581.37,"endTime":2584.7599999999998,"body":"success story for everybody. And"},{"speaker":"Rafael Testai","startTime":2581.37,"endTime":2584.7599999999998,"body":"we feel good about it. And"},{"speaker":"Rafael Testai","startTime":2584.7599999999998,"endTime":2588.0,"body":"that's it great. And that keeps"},{"speaker":"Rafael Testai","startTime":2584.7599999999998,"endTime":2588.0,"body":"it keeps it clear. So that when"},{"speaker":"Rafael Testai","startTime":2588.0,"endTime":2591.84,"body":"that new person comes in and ask"},{"speaker":"Rafael Testai","startTime":2588.0,"endTime":2591.84,"body":"the question, like, are you"},{"speaker":"Rafael Testai","startTime":2591.84,"endTime":2594.84,"body":"gonna steal my idea? Well, for"},{"speaker":"Rafael Testai","startTime":2591.84,"endTime":2594.84,"body":"sure, we won't to start with but"},{"speaker":"Rafael Testai","startTime":2594.84,"endTime":2597.9,"body":"in second, we don't own anything"},{"speaker":"Rafael Testai","startTime":2594.84,"endTime":2597.9,"body":"of any product ever in the"},{"speaker":"Rafael Testai","startTime":2597.9,"endTime":2600.5099999999998,"body":"history of our business. So just"},{"speaker":"Rafael Testai","startTime":2597.9,"endTime":2600.5099999999998,"body":"seals that."},{"speaker":"Rafael Testai","startTime":2602.19,"endTime":2606.72,"body":"Okay, I understand. Without"},{"speaker":"Rafael Testai","startTime":2602.19,"endTime":2606.72,"body":"explaining why, what do you"},{"speaker":"Rafael Testai","startTime":2606.72,"endTime":2610.62,"body":"think are just three books, or"},{"speaker":"Rafael Testai","startTime":2606.72,"endTime":2610.62,"body":"maybe just one or two that every"},{"speaker":"Rafael Testai","startTime":2610.62,"endTime":2614.79,"body":"inventor you think should read,"},{"speaker":"Rafael Testai","startTime":2610.62,"endTime":2614.79,"body":"before they approach maybe Mako"},{"speaker":"Rafael Testai","startTime":2614.79,"endTime":2615.96,"body":"Design and Invent?"},{"speaker":"Rafael Testai","startTime":2616.68,"endTime":2619.74,"body":"You know what I've got, so"},{"speaker":"Rafael Testai","startTime":2616.68,"endTime":2619.74,"body":"they're not in the design field,"},{"speaker":"Rafael Testai","startTime":2619.92,"endTime":2624.09,"body":"we've got a ton of resources if"},{"speaker":"Rafael Testai","startTime":2619.92,"endTime":2624.09,"body":"you want, specifically physical"},{"speaker":"Rafael Testai","startTime":2624.15,"endTime":2627.0,"body":"mass manufacture, consumer"},{"speaker":"Rafael Testai","startTime":2624.15,"endTime":2627.0,"body":"product development advice, that"},{"speaker":"Rafael Testai","startTime":2627.18,"endTime":2630.15,"body":"stuff, hop over our podcasts,"},{"speaker":"Rafael Testai","startTime":2627.18,"endTime":2630.15,"body":"The Product Startup,"},{"speaker":"Rafael Testai","startTime":2630.21,"endTime":2633.39,"body":"productstartup.com, or just"},{"speaker":"Rafael Testai","startTime":2630.21,"endTime":2633.39,"body":"Google Kevin Mako product"},{"speaker":"Rafael Testai","startTime":2633.39,"endTime":2636.18,"body":"startup, or Kevin Mako podcast,"},{"speaker":"Rafael Testai","startTime":2633.39,"endTime":2636.18,"body":"whatever, you'll find us, we're"},{"speaker":"Rafael Testai","startTime":2636.18,"endTime":2639.63,"body":"on every platform, etc. That's a"},{"speaker":"Rafael Testai","startTime":2636.18,"endTime":2639.63,"body":"great resource for a bunch of"},{"speaker":"Rafael Testai","startTime":2639.63,"endTime":2642.27,"body":"stuff, you can also check out"},{"speaker":"Rafael Testai","startTime":2639.63,"endTime":2642.27,"body":"our blog, we've got over 1000"},{"speaker":"Rafael Testai","startTime":2642.27,"endTime":2644.64,"body":"blog articles on almost every"},{"speaker":"Rafael Testai","startTime":2642.27,"endTime":2644.64,"body":"topic under the book when it"},{"speaker":"Rafael Testai","startTime":2644.64,"endTime":2649.38,"body":"comes to this very specific type"},{"speaker":"Rafael Testai","startTime":2644.64,"endTime":2649.38,"body":"of hardware development. But in"},{"speaker":"Rafael Testai","startTime":2649.38,"endTime":2651.63,"body":"terms of books, what I would"},{"speaker":"Rafael Testai","startTime":2649.38,"endTime":2651.63,"body":"recommend from a business"},{"speaker":"Rafael Testai","startTime":2651.63,"endTime":2655.5299999999997,"body":"perspective is one just to get"},{"speaker":"Rafael Testai","startTime":2651.63,"endTime":2655.5299999999997,"body":"you motivated. And I think"},{"speaker":"Rafael Testai","startTime":2655.5299999999997,"endTime":2661.89,"body":"that's the foundation is Grant"},{"speaker":"Rafael Testai","startTime":2655.5299999999997,"endTime":2661.89,"body":"Cardone's book 10x Rule. It's a"},{"speaker":"Rafael Testai","startTime":2661.89,"endTime":2664.41,"body":"fantastic book just to"},{"speaker":"Rafael Testai","startTime":2661.89,"endTime":2664.41,"body":"understand that effort and the"},{"speaker":"Rafael Testai","startTime":2664.41,"endTime":2670.02,"body":"drive. And the reasons to really"},{"speaker":"Rafael Testai","startTime":2664.41,"endTime":2670.02,"body":"push that, if it is at one or"},{"speaker":"Rafael Testai","startTime":2670.02,"endTime":2673.89,"body":"two invention ideas that one or"},{"speaker":"Rafael Testai","startTime":2670.02,"endTime":2673.89,"body":"two moments in your life where"},{"speaker":"Rafael Testai","startTime":2673.89,"endTime":2677.79,"body":"you have something come to you."},{"speaker":"Rafael Testai","startTime":2673.89,"endTime":2677.79,"body":"The way he explains it's"},{"speaker":"Rafael Testai","startTime":2677.97,"endTime":2680.43,"body":"interesting, it's almost like"},{"speaker":"Rafael Testai","startTime":2677.97,"endTime":2680.43,"body":"you have a responsibility for"},{"speaker":"Rafael Testai","startTime":2680.46,"endTime":2684.75,"body":"for yourself, the world, your"},{"speaker":"Rafael Testai","startTime":2680.46,"endTime":2684.75,"body":"family to like to act on this."},{"speaker":"Rafael Testai","startTime":2685.02,"endTime":2688.23,"body":"And then how you actually act on"},{"speaker":"Rafael Testai","startTime":2685.02,"endTime":2688.23,"body":"it to become successful, what it"},{"speaker":"Rafael Testai","startTime":2688.23,"endTime":2691.74,"body":"really takes what differentiates"},{"speaker":"Rafael Testai","startTime":2688.23,"endTime":2691.74,"body":"those who succeed in a new"},{"speaker":"Rafael Testai","startTime":2691.74,"endTime":2696.63,"body":"venture, to those who fail. And"},{"speaker":"Rafael Testai","startTime":2691.74,"endTime":2696.63,"body":"it becomes very clear in his"},{"speaker":"Rafael Testai","startTime":2696.63,"endTime":2699.81,"body":"writing. And if you start to"},{"speaker":"Rafael Testai","startTime":2696.63,"endTime":2699.81,"body":"understand the premise of those"},{"speaker":"Rafael Testai","startTime":2699.81,"endTime":2704.34,"body":"who succeed, it's a it's a"},{"speaker":"Rafael Testai","startTime":2699.81,"endTime":2704.34,"body":"great, great spot to start. So"},{"speaker":"Rafael Testai","startTime":2704.34,"endTime":2707.7599999999998,"body":"that's more to highlight, let's"},{"speaker":"Rafael Testai","startTime":2704.34,"endTime":2707.7599999999998,"body":"call it the foundation, in order"},{"speaker":"Rafael Testai","startTime":2707.7599999999998,"endTime":2711.42,"body":"to actually execute and nail it."},{"speaker":"Rafael Testai","startTime":2707.7599999999998,"endTime":2711.42,"body":"I would recommend a new book"},{"speaker":"Rafael Testai","startTime":2711.42,"endTime":2715.08,"body":"that just came out. A friend of"},{"speaker":"Rafael Testai","startTime":2711.42,"endTime":2715.08,"body":"mine, I've been on his podcast,"},{"speaker":"Rafael Testai","startTime":2715.77,"endTime":2722.91,"body":"EO Fire, JLD, the it's a great"},{"speaker":"Rafael Testai","startTime":2715.77,"endTime":2722.91,"body":"book called The Uncommon Path to"},{"speaker":"Rafael Testai","startTime":2722.91,"endTime":2728.46,"body":"Common Success. And it's a"},{"speaker":"Rafael Testai","startTime":2722.91,"endTime":2728.46,"body":"17-step roadmap to like exactly"},{"speaker":"Rafael Testai","startTime":2728.46,"endTime":2731.1,"body":"step by step, what you need to"},{"speaker":"Rafael Testai","startTime":2728.46,"endTime":2731.1,"body":"do to actually conquer. And this"},{"speaker":"Rafael Testai","startTime":2731.1,"endTime":2734.22,"body":"is for any business, but it's"},{"speaker":"Rafael Testai","startTime":2731.1,"endTime":2734.22,"body":"particularly effective in"},{"speaker":"Rafael Testai","startTime":2734.22,"endTime":2738.12,"body":"hardware. So those two books"},{"speaker":"Rafael Testai","startTime":2734.22,"endTime":2738.12,"body":"combined one will give you the"},{"speaker":"Rafael Testai","startTime":2738.12,"endTime":2741.0299999999997,"body":"foundation, the motivation, the"},{"speaker":"Rafael Testai","startTime":2738.12,"endTime":2741.0299999999997,"body":"other will give you the roadmap."},{"speaker":"Rafael Testai","startTime":2741.24,"endTime":2743.94,"body":"And then if you pair that with"},{"speaker":"Rafael Testai","startTime":2741.24,"endTime":2743.94,"body":"learning about your specific"},{"speaker":"Rafael Testai","startTime":2743.94,"endTime":2746.82,"body":"product and stuff from from, and"},{"speaker":"Rafael Testai","startTime":2743.94,"endTime":2746.82,"body":"how to actually develop products"},{"speaker":"Rafael Testai","startTime":2746.82,"endTime":2749.79,"body":"from some of the macro design"},{"speaker":"Rafael Testai","startTime":2746.82,"endTime":2749.79,"body":"resources, you're in a fantastic"},{"speaker":"Rafael Testai","startTime":2749.79,"endTime":2754.56,"body":"space to use to look at next"},{"speaker":"Rafael Testai","startTime":2749.79,"endTime":2754.56,"body":"steps on either go or even no go"},{"speaker":"Rafael Testai","startTime":2754.7999999999997,"endTime":2756.96,"body":"decision for your next invention"},{"speaker":"Rafael Testai","startTime":2754.7999999999997,"endTime":2756.96,"body":"idea."},{"speaker":"Rafael Testai","startTime":2757.23,"endTime":2760.44,"body":"What a beautiful transition. You"},{"speaker":"Rafael Testai","startTime":2757.23,"endTime":2760.44,"body":"mentioned your podcast"},{"speaker":"Rafael Testai","startTime":2760.47,"endTime":2764.61,"body":"productstartup.com. You can find"},{"speaker":"Rafael Testai","startTime":2760.47,"endTime":2764.61,"body":"it there. And actually forgot to"},{"speaker":"Rafael Testai","startTime":2764.61,"endTime":2767.37,"body":"mention that in the"},{"speaker":"Rafael Testai","startTime":2764.61,"endTime":2767.37,"body":"introduction. But Kevin is the"},{"speaker":"Rafael Testai","startTime":2767.37,"endTime":2770.46,"body":"host of The  Product Startup. So"},{"speaker":"Rafael Testai","startTime":2767.37,"endTime":2770.46,"body":"if you're listening to this on"},{"speaker":"Rafael Testai","startTime":2770.61,"endTime":2773.91,"body":"on your preferred platform of"},{"speaker":"Rafael Testai","startTime":2770.61,"endTime":2773.91,"body":"choice, go ahead and check out"},{"speaker":"Rafael Testai","startTime":2773.91,"endTime":2776.61,"body":"the product startup link in the"},{"speaker":"Rafael Testai","startTime":2773.91,"endTime":2776.61,"body":"description below in the show"},{"speaker":"Rafael Testai","startTime":2776.61,"endTime":2780.63,"body":"notes that I have an actually"},{"speaker":"Rafael Testai","startTime":2776.61,"endTime":2780.63,"body":"interesting question about this."},{"speaker":"Rafael Testai","startTime":2780.84,"endTime":2784.71,"body":"And Aaron, the host of this show"},{"speaker":"Rafael Testai","startTime":2780.84,"endTime":2784.71,"body":"and founder of Pipeline Design \u0026"},{"speaker":"Rafael Testai","startTime":2784.71,"endTime":2788.34,"body":"Engineering. He was very curious"},{"speaker":"Rafael Testai","startTime":2784.71,"endTime":2788.34,"body":"when I told him this. But if I"},{"speaker":"Rafael Testai","startTime":2788.34,"endTime":2791.37,"body":"understand correctly, we"},{"speaker":"Rafael Testai","startTime":2788.34,"endTime":2791.37,"body":"interviewed Philip, last week on"},{"speaker":"Rafael Testai","startTime":2791.37,"endTime":2796.02,"body":"this podcast. And Philip was the"},{"speaker":"Rafael Testai","startTime":2791.37,"endTime":2796.02,"body":"mechanical engineer that started"},{"speaker":"Rafael Testai","startTime":2796.0499999999997,"endTime":2797.7,"body":"their Product Startup Podcast."},{"speaker":"Kevin Mako","startTime":2797.7,"endTime":2798.09,"body":"Yeah."},{"speaker":"Rafael Testai","startTime":2798.09,"endTime":2799.71,"body":"From my"},{"speaker":"Rafael Testai","startTime":2798.09,"endTime":2799.71,"body":"understanding, you bought it"},{"speaker":"Rafael Testai","startTime":2799.71,"endTime":2801.81,"body":"from him and you're running it"},{"speaker":"Rafael Testai","startTime":2799.71,"endTime":2801.81,"body":"now. Is that correct?"},{"speaker":"Rafael Testai","startTime":2802.32,"endTime":2806.07,"body":"Yeah, he was at a point where he"},{"speaker":"Rafael Testai","startTime":2802.32,"endTime":2806.07,"body":"was transitioning out of the"},{"speaker":"Rafael Testai","startTime":2806.07,"endTime":2808.71,"body":"space. And he hadn't hadn't"},{"speaker":"Rafael Testai","startTime":2806.07,"endTime":2808.71,"body":"posted in a while, and we were"},{"speaker":"Rafael Testai","startTime":2808.71,"endTime":2812.16,"body":"transitioning into the podcast"},{"speaker":"Rafael Testai","startTime":2808.71,"endTime":2812.16,"body":"space. And it was a perfect"},{"speaker":"Rafael Testai","startTime":2812.16,"endTime":2814.41,"body":"partnership, because he had a"},{"speaker":"Rafael Testai","startTime":2812.16,"endTime":2814.41,"body":"great show. And it was the"},{"speaker":"Rafael Testai","startTime":2814.41,"endTime":2817.68,"body":"product startup, and it had a"},{"speaker":"Rafael Testai","startTime":2814.41,"endTime":2817.68,"body":"good following. And I think they"},{"speaker":"Rafael Testai","startTime":2817.68,"endTime":2822.21,"body":"had done 55 episodes at the"},{"speaker":"Rafael Testai","startTime":2817.68,"endTime":2822.21,"body":"time. And we were just building"},{"speaker":"Rafael Testai","startTime":2822.24,"endTime":2825.87,"body":"our own. And it was a perfect"},{"speaker":"Rafael Testai","startTime":2822.24,"endTime":2825.87,"body":"opportunity for us. He was"},{"speaker":"Rafael Testai","startTime":2826.11,"endTime":2829.29,"body":"leaving the podcast space, and"},{"speaker":"Rafael Testai","startTime":2826.11,"endTime":2829.29,"body":"we were coming in, we just cut a"},{"speaker":"Rafael Testai","startTime":2829.29,"endTime":2832.5,"body":"deal to say, hey, let's let's,"},{"speaker":"Rafael Testai","startTime":2829.29,"endTime":2832.5,"body":"let's join forces, we'll take it"},{"speaker":"Rafael Testai","startTime":2832.5,"endTime":2836.25,"body":"over, we'll host it, your legacy"},{"speaker":"Rafael Testai","startTime":2832.5,"endTime":2836.25,"body":"will live on and on, bring a"},{"speaker":"Rafael Testai","startTime":2836.25,"endTime":2837.96,"body":"bunch of new content to the"},{"speaker":"Rafael Testai","startTime":2836.25,"endTime":2837.96,"body":"show. And that's all we've done."},{"speaker":"Rafael Testai","startTime":2837.96,"endTime":2842.22,"body":"I think we're on just recorded"},{"speaker":"Rafael Testai","startTime":2837.96,"endTime":2842.22,"body":"earlier today, Episode 80. And"},{"speaker":"Rafael Testai","startTime":2842.7599999999998,"endTime":2845.5499999999997,"body":"we'll continue to grow from"},{"speaker":"Rafael Testai","startTime":2842.7599999999998,"endTime":2845.5499999999997,"body":"there. But Philip was he's good"},{"speaker":"Rafael Testai","startTime":2845.5499999999997,"endTime":2848.64,"body":"guy, great host. And I imagine"},{"speaker":"Rafael Testai","startTime":2845.5499999999997,"endTime":2848.64,"body":"you had a good talk with a"},{"speaker":"Rafael Testai","startTime":2848.64,"endTime":2852.0299999999997,"body":"probably last last week because"},{"speaker":"Rafael Testai","startTime":2848.64,"endTime":2852.0299999999997,"body":"he's really well spoken knows"},{"speaker":"Rafael Testai","startTime":2852.0299999999997,"endTime":2855.57,"body":"his stuff. And I was very"},{"speaker":"Rafael Testai","startTime":2852.0299999999997,"endTime":2855.57,"body":"excited. We had a lot of fun"},{"speaker":"Rafael Testai","startTime":2855.6,"endTime":2858.93,"body":"during the transition, moving"},{"speaker":"Rafael Testai","startTime":2855.6,"endTime":2858.93,"body":"him and we even did a transition"},{"speaker":"Rafael Testai","startTime":2858.93,"endTime":2862.0499999999997,"body":"episode where he was hosting and"},{"speaker":"Rafael Testai","startTime":2858.93,"endTime":2862.0499999999997,"body":"introduced me as a new host. And"},{"speaker":"Rafael Testai","startTime":2862.41,"endTime":2864.66,"body":"yeah, I really enjoyed that"},{"speaker":"Rafael Testai","startTime":2862.41,"endTime":2864.66,"body":"process and helped me learn"},{"speaker":"Rafael Testai","startTime":2864.69,"endTime":2867.24,"body":"learn the space. And it's been"},{"speaker":"Rafael Testai","startTime":2864.69,"endTime":2867.24,"body":"it's been a lot of fun."},{"speaker":"Rafael Testai","startTime":2867.81,"endTime":2870.93,"body":"Well, for anyone listening, if"},{"speaker":"Rafael Testai","startTime":2867.81,"endTime":2870.93,"body":"you have a podcast and you want"},{"speaker":"Rafael Testai","startTime":2870.93,"endTime":2875.31,"body":"to be a millionaire, Kevin,"},{"speaker":"Rafael Testai","startTime":2870.93,"endTime":2875.31,"body":"goodbye from. No, just kidding."},{"speaker":"Kevin Mako","startTime":2876.54,"endTime":2878.91,"body":"Want one and only my"},{"speaker":"Kevin Mako","startTime":2876.54,"endTime":2878.91,"body":"friend. It's The Product Startup"},{"speaker":"Kevin Mako","startTime":2878.91,"endTime":2882.0299999999997,"body":"and that it will be my only"},{"speaker":"Kevin Mako","startTime":2878.91,"endTime":2882.0299999999997,"body":"podcast probably for life."},{"speaker":"Rafael Testai","startTime":2883.08,"endTime":2886.11,"body":"Well, I think"},{"speaker":"Rafael Testai","startTime":2883.08,"endTime":2886.11,"body":"that was a really good move. And"},{"speaker":"Rafael Testai","startTime":2886.11,"endTime":2889.77,"body":"actually just finished listening"},{"speaker":"Rafael Testai","startTime":2886.11,"endTime":2889.77,"body":"to I think was Episode 77. About"},{"speaker":"Rafael Testai","startTime":2889.77,"endTime":2891.7799999999997,"body":"warehouses if I'm not mistaken."},{"speaker":"Kevin Mako","startTime":2892.2599999999998,"endTime":2894.39,"body":"Ah, yes, yes. Good"},{"speaker":"Kevin Mako","startTime":2892.2599999999998,"endTime":2894.39,"body":"episode. Right on."},{"speaker":"Rafael Testai","startTime":2894.39,"endTime":2896.85,"body":"Well, lastly, is"},{"speaker":"Rafael Testai","startTime":2894.39,"endTime":2896.85,"body":"there anything that I haven't"},{"speaker":"Rafael Testai","startTime":2896.85,"endTime":2938.85,"body":"asked you or you want to say,"},{"speaker":"Rafael Testai","startTime":2896.85,"endTime":2938.85,"body":"before we end the show?"},{"speaker":"Rafael Testai","startTime":2900.879,"endTime":2905.139,"body":"No, that's it, really appreciate"},{"speaker":"Rafael Testai","startTime":2900.879,"endTime":2905.139,"body":"it. If you've got an invention"},{"speaker":"Rafael Testai","startTime":2905.139,"endTime":2907.719,"body":"idea in the mass manufactured"},{"speaker":"Rafael Testai","startTime":2905.139,"endTime":2907.719,"body":"space stuff that you're"},{"speaker":"Rafael Testai","startTime":2907.719,"endTime":2911.049,"body":"intending to sell on Amazon or"},{"speaker":"Rafael Testai","startTime":2907.719,"endTime":2911.049,"body":"Kickstarter, or retailers like"},{"speaker":"Rafael Testai","startTime":2911.049,"endTime":2914.499,"body":"Walmart or Best Buy, that stuf"},{"speaker":"Rafael Testai","startTime":2911.049,"endTime":2914.499,"body":", hit us up, Mako Design,"},{"speaker":"Rafael Testai","startTime":2914.499,"endTime":2918.639,"body":"makodesign.com. We're happy t"},{"speaker":"Rafael Testai","startTime":2914.499,"endTime":2918.639,"body":"help. We're even happy to jump"},{"speaker":"Rafael Testai","startTime":2918.639,"endTime":2921.7889999999998,"body":"on a call and just spitball dir"},{"speaker":"Rafael Testai","startTime":2918.639,"endTime":2921.7889999999998,"body":"ction, even if you're just at"},{"speaker":"Rafael Testai","startTime":2921.7889999999998,"endTime":2924.699,"body":"he early stages, and are just lo"},{"speaker":"Rafael Testai","startTime":2921.7889999999998,"endTime":2924.699,"body":"king for some advice or whatn"},{"speaker":"Rafael Testai","startTime":2924.699,"endTime":2928.8089999999997,"body":"t from there. Feel free to dr"},{"speaker":"Rafael Testai","startTime":2924.699,"endTime":2928.8089999999997,"body":"p by anytime drop us a line,"},{"speaker":"Rafael Testai","startTime":2928.8089999999997,"endTime":2931.629,"body":"check us out resources, what"},{"speaker":"Rafael Testai","startTime":2928.8089999999997,"endTime":2931.629,"body":"ver else tune in to the podcast."},{"speaker":"Rafael Testai","startTime":2931.629,"endTime":2935.019,"body":"And I really appreciate, mor"},{"speaker":"Rafael Testai","startTime":2931.629,"endTime":2935.019,"body":"than anything I just want to"},{"speaker":"Rafael Testai","startTime":2935.019,"endTime":2938.229,"body":"say. Really appreciate you h"},{"speaker":"Rafael Testai","startTime":2935.019,"endTime":2938.229,"body":"ving me on the show. And it was"},{"speaker":"Rafael Testai","startTime":2938.229,"endTime":2941.529,"body":"your questions were amazing"},{"speaker":"Rafael Testai","startTime":2938.229,"endTime":2941.529,"body":"s one of the most enjoyable show"},{"speaker":"Rafael Testai","startTime":2941.529,"endTime":2943.8089999999997,"body":"I've been on as a guest. So"},{"speaker":"Rafael Testai","startTime":2941.529,"endTime":2943.8089999999997,"body":"hank you."},{"speaker":"Rafael Testai","startTime":2944.2599999999998,"endTime":2947.17,"body":"Oh, thank you so much. Thanks,"},{"speaker":"Rafael Testai","startTime":2944.2599999999998,"endTime":2947.17,"body":"Kevin. Until next time."},{"speaker":"Aaron Moncur","startTime":2950.77,"endTime":2954.25,"body":"I'm Aaron Moncur,"},{"speaker":"Aaron Moncur","startTime":2950.77,"endTime":2954.25,"body":"Founder of Pipeline Design \u0026"},{"speaker":"Aaron Moncur","startTime":2954.25,"endTime":2957.2799999999997,"body":"Engineering. If you liked what"},{"speaker":"Aaron Moncur","startTime":2954.25,"endTime":2957.2799999999997,"body":"you heard today, please share"},{"speaker":"Aaron Moncur","startTime":2957.2799999999997,"endTime":2960.79,"body":"the episode. To learn how your"},{"speaker":"Aaron Moncur","startTime":2957.2799999999997,"endTime":2960.79,"body":"team can leverage our team's"},{"speaker":"Aaron Moncur","startTime":2960.82,"endTime":2964.57,"body":"expertise developing turnkey"},{"speaker":"Aaron Moncur","startTime":2960.82,"endTime":2964.57,"body":"equipment, custom fixtures and"},{"speaker":"Aaron Moncur","startTime":2964.6,"endTime":2968.59,"body":"automated machines and with"},{"speaker":"Aaron Moncur","startTime":2964.6,"endTime":2968.59,"body":"product design, visit us at"},{"speaker":"Aaron Moncur","startTime":2968.62,"endTime":2971.65,"body":"teampipeline.us. Thanks for"},{"speaker":"Aaron Moncur","startTime":2968.62,"endTime":2971.65,"body":"listening."}]}