06-05-2026-vision-workshop

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May 6, 2026

Vision Workshop - Transcript

00:00:00

 
Skye Capazorio: All
Brett StClair: Hello.
Max Kingaby: Hi. Hi.
Hasan Mohammed Ahmed: Don’t relax.
Skye Capazorio: right.
Brett StClair: Just sorting out my connection so I don’t kill everybody on the Is that better? Max, is my mic working? Yeah.
Max Kingaby: Yeah.
Brett StClair: Yeah.
Max Kingaby: Um, at the start of yesterday’s meeting, I gave Brett a little a little slack message. You sound better now.
Skye Capazorio: Yeah.
Brett StClair: How you feeling,
Skye Capazorio: What was that? Oh, I’m fine.
Brett StClair: Skye?
Skye Capazorio: I I I don’t know. I don’t know what happened. I don’t know, but I’m fine now. Um, so, so yeah, when you’ve got like I mean, you know, when you got two young kids there,
Brett StClair: Oh yeah,
Skye Capazorio: you don’t know what’s hanging
Brett StClair: the bugs around when we Hello. Look at you guys.
Skye Capazorio: around.
Brett StClair: I think it would be more impressive if it actually showed you guys sitting on those chairs.
Skye Capazorio: Yeah, it’s actually quite funny. You look Cody’s like trying to like
 
 

00:01:28

 
Brett StClair: There we go. Very good. Now your mute is on if you’re wondering what’s happening. Can’t unmute you.
Gary Anderson: I cannot get my pointer to come up at all. I have no idea what’s going on.
Brett StClair: Well, we can hear you, Gary, so that’s
Gary Anderson: Wait, hold on. I know what happened. I think I know what happened.
Brett StClair: good.
Gary Anderson: I have I have my uh my MacBook and my iPad sitting right next to each other. And as if I go to the right, it just continues on the pad.
Brett StClair: Is it what do they call it?
Gary Anderson: So
Brett StClair: Side caring, I think it’s called.
Gary Anderson: Yeah.
Brett StClair: You side car it and it slips across. Um, so wonder if I still have it. Let’s see before I say anything about it. I think I’ve still got it loaded. Have they refreshed it? Oh, they have. So, in your backgrounds, you can add personalized backgrounds. And what I did when we we were rebuilding an airlines entire digital stack, mobile, all that kind of stuff.
 
 

00:02:56

 
Brett StClair: Um, everybody as our backgrounds was a business class airline chair with the customer’s brand and our brand on the back. And we were sitting literally in airline chairs so that when our team dial the call it looked like we’re all sitting on an airplane together.
Skye Capazorio: We need like a trading floor. Hey,
Brett StClair: Exactly. But he’s sitting on our
Skye Capazorio: we need a pit.
Brett StClair: desk.
Kevin Murray: I I will say it’s it’s very fun to watch you speak, Brett, from Max’s camera because we see your arms in the background with your motion like you’re dancing.
Skye Capazorio: Oh, sorry.
Kevin Murray: Yeah. All
Max Kingaby: Fun, funnily enough, um Brett Brett hides me from his screen.
Kevin Murray: right. I think we’re right.
Brett StClair: I think it’s something to do with skinny and not skinny. Um, okay.
Kevin Murray: Yeah.
Brett StClair: Are we all here? George is joining us soon. Um, he got delayed in a meeting. Um, but I think we can kick off. So, let me just make sure everything’s in place.
 
 

00:04:14

 
Brett StClair: That’s doing transcribing. It’s working. Um, I just needed to record as well. Okay. So, let me explain to you guys.
Kevin Murray: Kevin.
Brett StClair: Oh. Um,
Kevin Murray: So, couple two still waiting for Edwin.
Brett StClair: hello.
Kevin Murray: I don’t know if you and then um we I wanted to introduce you to Kevin who’s going to be joining as well
Brett StClair: Yeah. Yeah.
Kevin Murray: um to help kind of work out a lot of the little pieces here and and help with the coordination with some of the other other vendors.
Brett StClair: Brilliant. Hello,
Kevin Murray: All right,
Brett StClair: Kev.
Kevin Murray: nice to meet you guys. Oh
Brett StClair: Nice to meet you. Um,
Kevin Murray: yeah.
Brett StClair: so from the rebel side, it’s myself, her son, and Max, and then George will be coming shortly. Um, should we hang tight for five minutes for
Kevin Murray: Yeah, we can.
Brett StClair: Edwin?
Kevin Murray: Let’s wait a few minutes for Edwin and then in the meantime there’s a few logistical things maybe we can talk through that are more boring and maybe not things Edwin needs to weigh in on.
 
 

00:05:17

 
Kevin Murray: So the first one is for the um the meetings next week. You know, those work, those times work if you want to go ahead and set those up.
Brett StClair: Lock and
Kevin Murray: And then we just we can we can cancel those um daily touchdown meetings
Brett StClair: load.
Kevin Murray: for those days. And then when we resume those touchdown meetings, can we move them to out 30 more 30 minutes to 8:30 central, 9:30 Eastern? Great. Thank you.
Brett StClair: Perfect. Perfect. 9:30. I’ll do that. Um, and okay, so yeah, so we cancel it. So it’s actually starting at 9:30. Okay, got it. Yeah, that makes more sense. Yeah.
Kevin Murray: Yeah.
Brett StClair: Um,
Kevin Murray: On the train every single time.
Brett StClair: oh yeah,
Kevin Murray: Yeah.
Brett StClair: we should be
Kevin Murray: In the office between 8 and 8:15 based on our train schedules when we are in the office those days.
Brett StClair: doing
Kevin Murray: So because we’re we’re we’re now in our office three to four days a week.
 
 

00:06:11

 
Kevin Murray: Uh, as the team has gotten bigger, we we’re getting a lot more productivity out of having in person
Brett StClair: Yeah, I hear you. We literally all of us come into the office now every day.
Kevin Murray: time.
Brett StClair: Um, and some days like Thursdays are Max’s favorite day in in city because it turns out city is full of brokers and Thursday at about 3:00. I don’t know if you guys know what brokers do round about then.
Kevin Murray: I thought that was every day in London.
Brett StClair: Um,
Kevin Murray: I didn’t think that was just things. I mean, I was going out for beers at the pubs almost every day when I was in London with
Max Kingaby: Yeah,
Brett StClair: Yeah.
Kevin Murray: brokers, the banks,
Max Kingaby: I we we’ve moved office next to the
Kevin Murray: and the you know, people
Max Kingaby: Oldgate Tap, which is a bar, a pub on a little block of grass grass in the middle of London. And oh, when the sun’s out, Monday, Tuesday, Wednesday, Thursday, it’s a nice place to be.
 
 

00:07:15

 
Kevin Murray: They were we were in Morgate and there’s just dozens of pubs around there that we like the Globe is the big one that everyone goes to and stands out in the summertime and almost every day after work. Yeah. All right. Why don’t we get started?
Max Kingaby: Have you been Have you been to market?
Kevin Murray: I’m sorry.
Max Kingaby: Have you been to Leil Market? It’s crazy, isn’t it?
Kevin Murray: Yeah.
Max Kingaby: And so,
Brett StClair: So, I will make those changes, Troy. Um, get them all distributed, get it all into the diaries. Um, the modules, we might be able to finish that early. We I’m just putting a little bit extra time, doubling up on it in a 90-minute period. Um, also if we need to go out later, it’s also not a problem for us. Um, especially when we get to doing the engineering side. Uh, most of the engineering team actually work a little bit later. Um, so and then from our side on the Max and our side, we generally get back to the house and then we’re back online again.
 
 

00:08:22

 
Brett StClair: So also if if some of the times aren’t suitable, just let us know. We’re quite flexible.
Kevin Murray: Uh, one more other logistical thing for you,
Brett StClair: Um,
Kevin Murray: Brett, is um internal counsel is uh having his first child like any minute um today or tomorrow. Um so that’s why the contract has just taken a little bit more time to review. Um there is a handful of comments. Um nothing major but just stuff that uh he’s he’s cllayed for clarification. One we could probably talk about while we’re waiting for George and Edwin is um an understanding of support from your side during what I would call obviously your non- peak hours but are going to be peak US sports times.
Brett StClair: this.
Kevin Murray: Um, and can you can you walk us through your um planning to support the
Brett StClair: Yeah.
Kevin Murray: app and and that type of thing in those hours? Because I mean just to give you an example, games start at you know 7 PST which would be well 9 CST. So another five hours you’re talking m you know beginning in the morning early early hours of
 
 

00:09:38

 
Brett StClair: Yeah.
Kevin Murray: the morning for you
Brett StClair: Yeah. So Cody,
Kevin Murray: guys.
Brett StClair: that particular it’s basically a standard kind of terms that I have and so I think we need to work on that. Um the support we need to think about um because of the location and stuff and I’m very
Kevin Murray: Yeah.
Brett StClair: open to having a think about how we do it. Um if I think about how we man so we’ve got a a call center in I’ve got two businesses on the Teraflow side. The call center operates 24 hours, seven days a week. Um, we don’t want to be doing that. I don’t think that’s what you want to be doing. What we build on the Rebel Novo side is essentially self-healing and self-support. And so, just a bit of a rethink on that. How does that manage? How do we provide the cover and provide human cover for key peak hours? and what does that look like and how do we actually execute on that?
 
 

00:10:43

 
Brett StClair: So I don’t think one wants to be going into running a call center 247.
Kevin Murray: No,
Brett StClair: Um I just don’t think we need to do that. So sorry that that that contract is really services based with oh yeah we’re
Kevin Murray: no.
Brett StClair: operating in those hours. So when it comes to support and maintenance, we need to think about that properly and I think we have a way more interesting solution about how we go about doing that and I agree. But I just to let you know so great point need a lot more thinking and work on that and separate
Kevin Murray: Great. Yeah,
Brett StClair: out
Kevin Murray: we we’ll we’ll need to have some sort of uh we’ll have that in writing, of course, but we’ll need to include some sort of that in our terms of service on the app um of support hours if it if it ever happens.
Brett StClair: Yeah. Yeah. I agree 100%.
Kevin Murray: Fire.
Brett StClair: Yeah. That contract is not covering that thinking and I totally agree.
 
 

00:11:42

 
Brett StClair: And with the technology where it is at the moment or technology as a whole, there’s way better ways to do this than run any form of call center with self-healing and self monitoring. And it’s all about understanding how we manage and support that in those necessary time frames. Hello. Um, you’re on mute.
Edwin Johnson: Sorry about that.
Kevin Murray: Okay. No worries.
Edwin Johnson: Can you hear me?
Kevin Murray: Yeah, we can hear you.
Edwin Johnson: Yeah. Lots of dynamic fast market stuff for this little guy. Thank you very much. Um, all right. So, where are we at? What are we
Kevin Murray: Uh, we’re just covering some logistical items um that that didn’t require you or
Edwin Johnson: doing?
Kevin Murray: George, I guess, at this point. Are we still waiting for George Brett?
Brett StClair: So George is George and I are going to be a lot of doing a lot of talking. So, he’s hopping into a booth um just so that we are not talking over each other and trying
 
 

00:12:48

 
Kevin Murray: Okay.
Brett StClair: to time it. And then Max and his son when they jump in, I’ll mute off and they’ll bang me over the head when they want to jump in with some ideas and concepts.
Edwin Johnson: Sounds great.
Brett StClair: Told them to get ready as potential targeted demographics, right? Feedback like this is going to be important. So, let me let me just set the scene a little bit while George is dialing in. Um, this is going to be very different to any requirement session that you’ve done because we’re going to have just a conversation. And the conversation might seem a little bit repetitive. Why? Because what we actually doing is talking about this, but we’re also talking to a third party. And that third party is our model. And what we’re going to be doing is some of the stuff you’re going to think that we’re being quite obvious. Surely we’ve spoken about this, but we’re actually talking to the memory of the model and we’re trying to feed it with the information so we understand what the models got short and what it has already.
 
 

00:14:02

 
Brett StClair: So we’ve already started loading the model with the information that we needed and we’re building out the knowledge graph and this this purpose all these workshops are about bolstering and then tying it all back together and seeing where the gaps are. And so sometimes we might ask questions that seem a little bit disconnected or we’ve already mentioned it in other conversations. We’re just bringing it back in here, getting it on record so that we give the model a chance. Um, is everyone comfortable with that? So, if you do notice it, you’re welcome to look at me as though I’m a complete and utter moron and I’ll just power through it.
Edwin Johnson: No worries. I think we’re all on the same
Brett StClair: Okay, brilliant.
Edwin Johnson: page.
Brett StClair: And I’m going to put you guys Sorry, I’m just want to set my screens up properly. So, I’m just going to move you onto a different screen here so I can still see you. Um, and let me open that up. So, when I look this way, I’m actually looking at you guys.
 
 

00:15:04

 
Brett StClair: And then I’ve got notes as well that I’m going to be referring to. Um, George, also feel feel free to jump in at any time. I’ll kick everything off and we’ll go through at a very high level what we’re trying to achieve with the vision. Um, and so again, we’re trying to go to the model and say we’re looking to achieve the following. Um, the key kind of core themes I’m going to be covering stretch from what are we building, right? And so I just want to be very when we’re talking here, let’s not talk about the exchange, let’s not talk about the future trading, you know, be able to trade on the app. We’re talking about the inplay challenge. We’re talking about simulation. We’ve got to be very particular because we don’t want to confuse it either. So, we’re trying to organize the data in a really structured way through an unstructured conversation. Um, we’re going to talk about who we building it for. We’re going to talk about why one is why you guys are building it.
 
 

00:16:13

 
Brett StClair: We’re going to talk about uh why is this better to the alternatives, right? the culties of the world and we talk about the market. We’re trying to give this engine context. Um, how’s it going to make you money? How’s it going to make your traders money? Um, uh, we’ll talk a bit about constraints. We’ll talk about where you are at the moment, what where the market is at the moment. Um, double in the risks that it’s faced that that are that going to be in this project. Let’s identify them as much as we can and then we’re going to get into the components. So what are these core components that we are going to start building out you know things like um the Bloomberg terminal kind of view to provide them sports data um the leaderboards the and so again we’ll talk about all the different features and components and we’ll decide how we’re going to group these up into bigger conceptual ideas when we get to each of the component workshops that’s where we’ll break down into further detail and we’ll I’m talking about this is what I think the user journey is going to look like.
 
 

00:17:25

 
Brett StClair: It’s going to click on there. We’re going to do that and I’m expecting it to do X, Y, and Zed. So, the next round is where we’re going to get into those details. But right now, we’re trying to frame context. Everyone okay with that?
Edwin Johnson: sounds
Brett StClair: Sorry,
Skye Capazorio: Oh,
Brett StClair: I’ll keep pausing, double checking.
Edwin Johnson: good.
Brett StClair: I’m doing two things there.
Skye Capazorio: good.
Brett StClair: Making sure that we all haven’t squirreled somewhere else. I’m an ADHD sufferer. I know my brain likes to squirrel, so I assume everyone else wants to squirrel.
George Westbrook: I’ve got a shot on Brett’s. So, every time he does that, I just it I’ve got a I’ve got
Edwin Johnson: What was that,
Brett StClair: You broke
Edwin Johnson: George?
Brett StClair: up
George Westbrook: a shock collar on Brett’s wrist. So, uh every time he starts to zap
Edwin Johnson: That’s great.
George Westbrook: it.
Edwin Johnson: I’ve got one on Troy’s waist,
Brett StClair: my Troy
Edwin Johnson: so we’re safe.
 
 

00:18:16

 
Brett StClair: and I
Edwin Johnson: I’m the one who needs one. and George or me and um Brett are the old-timers. Well, you know, we we need naps, too. Believe me.
Brett StClair: Um okay. We have some guiding notes that our model has asked us to follow. So again there’ll be sometimes that we might fire a question again might not be contextually relevant to the conversation but we know we need to fill it. It’s all based on the knowledge graph based on the information that we have already. Um,
George Westbrook: I I think one p don’t don’t feel free to just go and explain the life away. Something might be darting this way,
Brett StClair: oh,
George Westbrook: ding that way. Um it’s just yeah of it obviously for the age, but a lot of it’s for us as well. just make sure that what what we’ve got in our head. Um because at the moment for for us everything’s in our head. Um so we just want to make sure that we’ve out we’ve now got something that everyone reference and
 
 

00:19:10

 
Brett StClair: heat.
George Westbrook: agree and it’s going to act as that foundation for everything else we do. So in my head sometimes it seems like a little bit of a step back because we’ll kind of know what what we’re building. Um but it’s could be very important going forwards.
Brett StClair: I’ve sent you a message, George, which says you need to use the mic on your laptop.
Edwin Johnson: Great.
Brett StClair: Your earpieces are failing like mine did yesterday. Um, okay. Start off with the first question and anyone can jump in, anyone can answer, you can repeat it, you can all add to it. Um, I think this is a good place to start. In one sentence, what are we trying to build?
Edwin Johnson: But just so we’re clear in terms of what Rebel Laps is trying to build or we as a group are trying to build
Brett StClair: what you as a team together. So we are going to build a simulated trading app. Baboom. We want to give like a kind of sales pitch, right?
 
 

00:20:21

 
Brett StClair: You do that oneliner that’s clear to this. It kind of frames
Edwin Johnson: Yeah. Um,
Brett StClair: everything.
Edwin Johnson: boy, that’s an interesting I haven’t ever tried it with one sentence, but we certainly are aiming to build a real life trading experience for users who
George Westbrook: Forget
Edwin Johnson: are interested in engagement with sport. that allows them to participate and learn trading skills with no financial risk to themselves while still maintaining potential financial upside based on how well they perform during the competition.
Brett StClair: for all
Edwin Johnson: uh for football uh for American football uh college and
Brett StClair: sports.
George Westbrook: They
Edwin Johnson: professional kind of feels like a deposition to me,
George Westbrook: have
Edwin Johnson: but I I like
Brett StClair: Right.
Edwin Johnson: him.
Kevin Murray: I thought that’s what that’s where you’re going, Edwin. So, this is would be a good experience.
Brett StClair: Um,
Edwin Johnson: You mother I’m coming for you.
Kevin Murray: You should have been here that I’m just kidding.
Edwin Johnson: I wish I could
Kevin Murray: Yeah.
Brett StClair: so what is this kind of world?
 
 

00:21:34

 
George Westbrook: it.
Kevin Murray: That’s
Brett StClair: How do you picture um
Kevin Murray: not
Brett StClair: how do you picture this new world of trading in sports actually
George Westbrook: Yeah.
Brett StClair: looking for like for the end user and how do you see this being different to the available um trading or equities or other investment vehicles
George Westbrook: Together.
Brett StClair: that are out there.
Edwin Johnson: Yeah, it’s a first of its kind asset class uh that’s focused on something people love and
George Westbrook: Yeah.
Edwin Johnson: know sports passion economy and allows for I’m
George Westbrook: Oh.
Edwin Johnson: sorry.
Skye Capazorio: I don’t think there was anything.
Edwin Johnson: Oh, I thought Oh,
Skye Capazorio: I think it’s just background
Edwin Johnson: I thought I heard something. Yeah. Yeah, no problem. Um, yeah,
Skye Capazorio: noise.
Edwin Johnson: so it’s completely different than a traditional security. It’s completely differentiated from a prediction market or a sports betting in a number of ways. Uh, this this product allows for a longer term view with non-binary outcomes on a gainby-game basis. It allows for a variety of strategies that include momentum, volatility, reverse momentum when when everyone’s selling uh because a game looks lost.
 
 

00:22:59

 
Edwin Johnson: someone who has the wherewithal to stand in and provide liquidity to those who want to get out of trades or sell market. Um they can come in and and maybe they can buy and hold for two or three weeks. Well, you know, everyone else is on a game by-game basis and outcome dependent. Our big thing is that we are path dependent. The price path of how these securities behave is where people get to engage. Instead of betting on a game where you have one entry and one exit, the price path can give hundreds if not over a thousand opportunities to make money in each game. So the path is not dependent on the outcome of the game. It’s dependent of the market forces where buy and sellers meet to determine a price.
Brett StClair: And how George, you want to jump in? I’ve I’ve got a little bit more of a holistic question around it.
George Westbrook: Oh god, you
Brett StClair: Um,
George Westbrook: got
Brett StClair: how do you see the value of the market across the season?
 
 

00:24:02

 
Brett StClair: I.e. How do you see it starting with IPOs and uh season launching and season closing and how does that impact the traders and how
George Westbrook: s***.
Brett StClair: do those how do you see that all working?
Edwin Johnson: Yeah. So when we’re getting ready to launch the trading challenge, we begin with an IPO for every team. And that IPO would be a forwardlooking price. That’s essentially the value, the expected value of that company that we’re creating for that team at the conclusion of the season. So let’s say a team was expected to win five games and every game had a revenue value of $5.yo{u}^{\prime }dexpectthatteamtobeworth$25 in terms of onfield revenue that the team company can create. We also have an off-field component which is where we plug in and utilize the marketing opportunities for the team companies to add value not based on the performance on the field but based on the performance of how many users interact with that team stock during the course of the season. It can be game by game.
 
 

00:25:11

 
Edwin Johnson: It can be week by week. can be whatever. So, in various uh circumstances where you have a favorite team like the Dallas Cowboys, um they’re they’re always referred to as America’s team. So, there’ll be a lot of followers in that team regardless of how well they play on the field. And in some cases, their off-field revenue may be more impacting than a team with a less of a fan base, say like uh Atlanta Falcons or Carolina um Panthers, something like that. So the two components that would determine the the fair value would be how many expected wins they have during the course of the season plus how much expected revenue they get from their marketing and advertising. So those two pieces combined form a price and that’s what they go up at and then
George Westbrook: Okay.
Edwin Johnson: after the prices go off they move on to a secondary market where they can trade freely where buyers and sellers can meet and determine that price.
George Westbrook: Hey
Edwin Johnson: The interesting part about the secondary market is in previous simulations, we’ve seen that when when teams are playing very well in a game, they tend to get very popular and the prices tend to overshoot.
 
 

00:26:26

 
Edwin Johnson: So in in the case of this, the pricing mechanism doesn’t just work where a team wins a game and they get $5pershare.Theywillgetthatintermsofrevenue,butthemarketwillwillcertainlypriceitdifferentlythan$5 a share. I’ll give you two examples. A team could win a game, but the star player could get hurt and the share price more likely than not will go down in value, okay, despite winning. So, they’re not guaranteed that. It’s again a market driven price. And subsequently, let’s say they have a another game that they win and they beat a very good team and maybe they have their rookie quarterback now looks like a star. And instead of the market saying, “Okay, you get $5forthewin."Themarketpricesthateightor$9 because the expected value is now greater based on what the fans have seen that particular day. So, this is the most transparent equity market in the world. There’s no other company that you could turn on your television and watch firsthand and see, okay, you know, how is my stock performing today?
 
 

00:27:35

 
Edwin Johnson: And do I like holding it? Do I want to sell it? Do I want to buy more? So, the fact that you’re able to see it in real time, that doesn’t exist anywhere else.
Brett StClair: When you get to the end of the season, how’s that mechanism working?
Edwin Johnson: Yeah. So at the end of the season, uh the companies that we create close. So you know when we do an IPO, we actually take whatever number of companies for the NFL. We’ll talk 32. We actually create public companies that are real. They’re not just a, you know, figment of anyone’s imagination. So we go through the regulatory process. Those companies have form and function. There’s corporate responsibilities. They have a board of directors. Inplay manages all of the corporate services for those teams, i.e. reporting, accounting, selling, advertising, selling, marketing, doing things to help the company stay a uh in business and afloat during the time that they’re open. At the conclusion of a regular season, say for the trading challenge, it’s for regular season only, we close those companies and we perform what’s what’s legally described as a liquidating dividend.
 
 

00:28:49

 
Edwin Johnson: The important part of the liquidating dividend is there are no tax liabilities at the corporate level. And so all of the earnings that the team companies have had up to that point will then be distributed to shareholders in a form of cash. Okay? Because the company closes, we’re going to liquidate all the all all the assets and then perform this liquidating dividend and then the the shareholder gets cash. And so if they had bought a share at $25attheIPOandtheywereabuyandholdpersonandtheythetheshareswereworth$48 at the conclusion of the season, they would get um you know a payment for 20 I’m sorry $48persharenettingaprofitof$23 per share and then the outcome would be they would be responsible for the taxable income on the $23 a share. Now, these are capital gains and losses. It’s a big difference from what’s out there. So, if someone was to lose money trading, they that those dollars are actually taxdeductible and can be carried
 
 

00:29:57

 
Brett StClair: So,
Edwin Johnson: forward.
Brett StClair: how do you see this mechanism working in the simulated space and the reward mechanisms um around the challenge
Edwin Johnson: Yeah,
Brett StClair: um triggering across leaderboards and across different game plays.
Edwin Johnson: sure. Sure. So, the way that we envision this is that there will be a seasonl long challenge uh for the top earner where they get a distribution amount. We haven’t figured out the actual payout schedule yet. Cody and I should have that buttoned up by next Friday. Um but essentially we’re going to start with a minimum prize pool of 5 million and we’re going to we’re going to go up to 25 million. Uh based on that uh criteria on 25 million we’re aiming to distribute somewhere between 200 and $250,000perday.Andeachdaytherewillbeindividualchallenges.Threeinparticular.Thefirstwouldbewhomadethemostmoneytoday.Andwewouldpaydowntoabout400places.Andthatpersonmightmakeaslittleas$20, okay, for 400th place.
 
 

00:31:17

 
Edwin Johnson: But the person who wins may get 10,000 every single day. Okay? So that's that's vertical one. Vertical two is a risk adjusted return. Who had the best P&L profile for that day? So in other words, who made the most by taking the least amount of risk? Whose P&L had the smoothest line upward risk adjusted return? Similarly, we're going to have somewhere between a 5 and $10,000 daily payout paying out down to, you know, I think 300 to 400 places. And then the third category would be the comeback trader of the day. And let’s say hypothetically, you know, George had a bad day. he’s getting his uh you know his butt kicked and his P&L uh draws down to 50% of his his total uh portfolio value. So he starts out with 100 grand, he’s down 55,000. So is now his account’s worth only 45,000. But George is an astute trader and he focuses hard, keeps going and ends up banging it out and comes back and uh brings his account value up to 105,000.
 
 

00:32:26

 
Edwin Johnson: So his comeback would be from the the trough of 45 up to the ceiling of 105. And um so he would he would potentially qualify for the comeback trader of the day. And we also want to pay a slew of spots there. The idea here is for the user to always feel that there’s something to gain and they trade properly. Okay? That they don’t look at this as just a oh I lost today. I’m going to just trade crazily. Um, and because they have to actually use the simulated money every day, if they lose all their money, the only way for them to reload again is those referral dollars. So this way, you know, we get a realworld challenge and trading experience where there’s a real financial benefit to the user. And then there’ll be weekly prizes that are cash, monthly prizes that are cash, and then the overall tournament or challenge cash. And then on certain days, we’re going to have specific items. So, for example, Thanksgiving in the US, huge holiday.
 
 

00:33:31

 
Edwin Johnson: They have, I think, three football games played that day. And we aim to give a uh to distribute somewhere between one and a half and $2 million specifically that day. So that day with a couple hundred thousand winners and things like that where you know hopefully some families will watch the games and start trading them while they play. One one last thing I’d add is the whole idea of this challenge is to trade it like a real market and to manage risk, right? And because there’s so much opportunity in the game play of football where prices go up and down, scores go up and down that the idea here is to be an active active trader and we expect people to be engaged for a long time on these games. In our previous simulation, you know, there were times where you we saw people trade for four hours straight, not logging off, just trying to continue to bang out money each tra each play. So, it’s very very dynamic. It’s actually very hard to put down.
Brett StClair: So your sorry one more question for me George
 
 

00:34:35

 
George Westbrook: I’ve never seen anything.
Brett StClair: um the simulation the purpose for the simulation leading into the live trading environment how are you seeing that scenario pan out right and going forward do you see it as a as a learning ground do you see it as a training ground do you see it as a marketing effort to educate and then how do you see that transition into an actual trading environment for for your customers with traders?
Edwin Johnson: Yeah, I I see it for all of that. So, it’s an educating uh experience not just for the users but for advertisers. Uh it’s also a way for us to control our own distribution channel by identifying users who may want to trade in a production environment in lie of going through um our current brokerage partners Robin Hood, Wee, Bull, Schwab. Um I don’t believe that they’re going to provide us with the value we expect from them in turning on their clients. they can they can turn on the clients, but if they don’t make it aware for their clients that this exists, it’s not going to have the same bite.
 
 

00:35:52

 
Edwin Johnson: So, we think that we’re going to, you know, be somewhere between a million and 5 million active users. And from there, I think our conversion rate is going to be very high into production, somewhere between 20 and 40%. uh because remember there will be a lot of traders who actually earn money but don’t qualify for the cash prizes and will identify that they found a a place in the market where they feel they can be profitable and and candidly I believe that there’ll be a number of people who decide to trade inplay stocks for a living and not other things
Skye Capazorio: Can I can I add something to that please? Um so what I wanted to say is that um just from a marketing standpoint I think that there there’s two things.
Edwin Johnson: Please.
Skye Capazorio: One is that it’s almost like a beautifully woven opportunity where the product intersection and a marketing inflection point meet in the trading challenge. um where what we we’re having this opportunity that we’re not just having an opportunity to promote what InPlay does from a production trading perspective, but we’re turning the product utility into that marketing promotion opportunity, which is which is rare, right?
 
 

00:37:08

 
Skye Capazorio: We’re doing the try before you buy essentially um is the one side. And the second side of it is that through that dependent on on on the success of it and how how we choose to navigate that the simulator provides an opportunity and an environment for a premium access opportunity into into production trading from an always on perspective. Now I don’t want to say that we’re committing to doing that exactly but it does provide that opportunity that whilst we are starting with the trading challenge simulation as this first like big moment and introductory moment into the brand to then convert people. There is a world that that potentially lives always on and has these various promotional inflection moments as in actual challenges where there’s prizes and stuff that we can utilize always on throughout the season. But it also then provides the bedrock for being able to integrate into syllabus um education elements from a college perspective where people can actually utilize it from a tool perspective, from an education level. increasing financial fluency within a youth market in a fun and engaging way.
 
 

00:38:21

 
Skye Capazorio: Um, and as I say, it goes back to the fact that it could then always be an always on premium route into the actual production
Brett StClair: Sky,
Skye Capazorio: training.
Brett StClair: do you see it do you guys see it as um could it be a qualification path? You know, is that something you would want to create like kind of learn and then qualify or learn? Oh yeah, this is always there but it’s at a higher risk. I don’t know what your guys thinking of that
Edwin Johnson: I definitely would shy away from the qualification uh part.
Brett StClair: is.
Edwin Johnson: I think that there’s there may be some incentive uh available in terms
Brett StClair: All
Edwin Johnson: of maybe some type of fee reduction based on how many hours they’ve spent on the exchange. I mean, that’s something we’d have to look at. You know, generally with these production markets, you have to provide fair access.
Brett StClair: right.
Edwin Johnson: We can’t make someone require um anyone should be able to access,
Brett StClair: So,
Edwin Johnson: but with the money and an approved brokerage account, they should be fine to trade.
 
 

00:39:27

 
Edwin Johnson: Uh, on a fun note, uh, Troy, I did get a call yesterday, uh, from a group that will pay us 150 bucks per customer that opens an account. We can talk about it later. So, if we were to get 500,000 accounts open,
Kevin Murray: Okay,
Edwin Johnson: it’s 75 million bucks.
Kevin Murray: that’s
Brett StClair: How did they make
Kevin Murray: awesome.
Edwin Johnson: Well, so the qualifying deposit has to be $2,500.
Brett StClair: money?
Edwin Johnson: And generally speaking, these brokerage they pay a big commission because they look at the the their customer acquisition cost at 150 bucks as being very very
Brett StClair: I see a K.
Kevin Murray: Yeah,
Edwin Johnson: cheap.
Kevin Murray: that’s that’s what I was just going to add there. The qualification, not from a a user perspective from our side, but from a sponsorship or advertising qualification from the trading challenge to a production user. Absolutely. Right. We can sell different advertisements to the production users because they are a qualified actual trader. They are spending real money. All of those different things as well from going from a a free trading challenge event to production.
 
 

00:40:37

 
Kevin Murray: So the qualifications depending on which lens you’re looking at and through there there is certain qualifications
Edwin Johnson: Yeah, I think that advertising becomes different in a production environment versus the simulated environment challenge. Um I don’t know that the breadth of the user base will be as wide on production. My guess is no because at least for the first couple years, but um the advertisers may come back and say we want scale more than we want a narrow sub section. So I think to Skye’s point, we want to offer
Skye Capazorio: Absolutely. And I think also just to add there that I think the ex just to further iterate what you
Edwin Johnson: both.
Skye Capazorio: were saying Edwin about the advertisers potentially that yes it is it is more narrow in who they are able to talk to but there are other avenues then to offer to those advertisers that then become probably more valuable to them in that space from a content output perspective. When you start looking at um our own owned channels, podcasts, broadcasting, things like that that start happening within our own own space that we can then offer to advertisers as an interaction point within that um further in in that
 
 

00:41:45

 
Edwin Johnson: Cool.
Skye Capazorio: space.
George Westbrook: Well, it’s it’s kind of like it’s two two-sided questions. So, first is what does a user need to do in order to achieve the outcomes that they desire? I think a better question for first is what are those outcomes?
Edwin Johnson: He That
George Westbrook: So,
Edwin Johnson: was a little little tough for me to understand,
George Westbrook: could it be
Edwin Johnson: George. I’m sorry. You’re just you’re getting a feedback right
George Westbrook: so as well?
Brett StClair: Your your luck is terrible.
Edwin Johnson: now.
Brett StClair: Yeah, I think it’s still picking up your
Edwin Johnson: I’m not the only one having trouble,
Kevin Murray: No,
Brett StClair: No,
Skye Capazorio: No,
Kevin Murray: I couldn’t hear me.
Brett StClair: no,
Edwin Johnson: right?
Skye Capazorio: no, no, no. It’s It’s all of us.
Brett StClair: no.
Skye Capazorio: It It’s kind of cutting off his
Edwin Johnson: He’s never made more sense, though.
Skye Capazorio: sentences.
Brett StClair: My favorite George is a muted George.
Edwin Johnson: George is smart cooking. I I like Mac.
 
 

00:42:49

 
Brett StClair: Um, while George is sorting himself out,
Edwin Johnson: Does anyone ever call you look like um Killian Murphy from Pinky
Brett StClair: um,
Max Kingaby: No, but yeah.
Edwin Johnson: Blinders?
Max Kingaby: No, but I’ll I’ll take
Brett StClair: yeah.
Edwin Johnson: Yeah. I mean,
Max Kingaby: that.
Edwin Johnson: at least maybe I’m losing my vision, but you got a vibe today.
Max Kingaby: No. Um,
Brett StClair: Um,
Max Kingaby: who do I get told?
Edwin Johnson: And Hassan,
Max Kingaby: There’s a de That’s super.
Edwin Johnson: your hair flow is maybe the greatest I’ve ever seen. I mean, George is a poor man’s hair.
Brett StClair: The ladies think so
Edwin Johnson: All right, you’re back, George.
George Westbrook: I think so. Is that is that clearer?
Edwin Johnson: Yes, much clearer. Thank you.
George Westbrook: Yeah.
Kevin Murray: Yeah.
George Westbrook: Sorry about that. Um, yeah. So, all I heard was Max is a poor man’s Killian Murphy. I agree with that. Um,
Kevin Murray: Perfect.
Max Kingaby: Mate, you need to book the first trip back to Turkey.
 
 

00:43:44

 
Edwin Johnson: Yeah. For what it’s worth for you, you sound like my wife. She takes what she wants to hear and then uses it against me.
George Westbrook: Don’t. Yeah, that I’m glad that was the only part I heard. I heard my name and I was like, I’ll ignore that part. Um, yeah. So,
Kevin Murray: Thanks.
George Westbrook: what what I was asking is what does a user need to be able to do in order to achieve the outcomes that they want to get out of that platform? But the better thing to ask first is first of all what are those outcomes?
Edwin Johnson: Sure.
George Westbrook: Is it education, money, things like
Edwin Johnson: Yeah. So, the first thing they have to do is sign up. Okay.
George Westbrook: that?
Edwin Johnson: And uh you open an account within play. And once they open their account within play, the next thing that they should do to benefit themselves is hit the referral bank and get as many referral banks in there. that will give them the best trading opportunity because they can be a little bit more risky on that first 100 grand worth of capital they get to trade with uh because they know they have a backup bank.
 
 

00:44:48

 
Edwin Johnson: Now, in order for them to benefit from this challenge, the moment they start trading and learning a little bit more about risk management because the way that we structured this, well, we we are certainly excited to have users trade daily. Um, you know, I I I wanted to focus it like I would trade for me. So, I I look at daily P&L as one thing. I look at weekly P&L as another thing and monthly P&L as as another thing, right? So, I have my daily risk total that I’ll I’ll allocate each day, and I want people to focus on that. This So, I’ve been a trader for a long long time, and I’ve been relatively successful at it. And um everyone that I know that’s ever been really successful at it has a similar way of taking on and managing their risk. So if if they look at things on on the daily and obviously, you know, they can buy and hold for three or four days, they don’t doesn’t necessarily mean they have to execute every day. Um but if there’s draw downs, you know, essentially I was taught that you should know where you’re going to get out before you get in, whether it’s good or bad.
 
 

00:45:58

 
Edwin Johnson: And from there, you know, you can come up with a way to to try to try to take on markets. That’s how we want uh structure this. So the, you know, they they have to sign up. They have to trade very very well in order to qualify for cash bonuses. But the benefit to them starts the moment that they start trading because they’re going to become better traders and risk managers as a result. Um, every every person who trades in this challenge will be a better trader afterwards.
George Westbrook: How so? How do you envision they become better traders?
Edwin Johnson: Sure.
George Westbrook: Just through pure trial and error, trial and error or something more
Edwin Johnson: I mean, there’s some things that we’re going to have on our website that will teach them some of the basics.
George Westbrook: guided.
Edwin Johnson: Okay. Um, but ultimately, everyone in that game trading game needs to find their own way, what they’re comfortable with in terms of risk, how they view opportunity, how active they want to be in the market.
 
 

00:46:53

 
Edwin Johnson: Um, you know, obviously the more active you you are, the riskier you can be with your size because you’re not going to take a lot of market shock. Maybe you’re trading flow or or or microructure behavior or things like that. Um, you you can trade a little bit bigger because you’re only going to be maybe in the market for a couple seconds versus someone who wants to come in and load up and go for it all. Maybe they have to be in the market for two days or a day or whatever. So um in terms of be teaching folks how to trade that’s not our purpose. Our purpose is to pro provide an incentivized way for them to engage with real time live markets in an asset class that they know and
George Westbrook: Okay.
Edwin Johnson: love and have a financial benefit tied to it, a potential financial,
George Westbrook: Okay.
Edwin Johnson: right? So because there’s something at risk, you know, because we’ve all done things that, oh, you play cards with your cousin, but there’s no money on the table.
 
 

00:47:52

 
Edwin Johnson: Nobody gives a s***. But the moment that there’s real money available, everyone changes how they uh how they attack things. I think Mike Tyson said it best. Everyone has a plan until they get punched in the face.
George Westbrook: So let’s Go.
Brett StClair: See, can I jump in very quickly? The third space is clearly an an opportunity for them to educate themselves through other successful traders, right? Sharing tips and all that kind of stuff. So, the responsibility is not really on you. It’s about them learning from each other as well. Is that
Edwin Johnson: Yeah,
Brett StClair: right?
Edwin Johnson: I think you know there there’s a new way you know when I first started trading no one told anyone what they had on ever because a wise trader once told me goes never tell anyone when you lost money because half the people will be happy that you lost and the other half will be sad that you didn’t lose. lose more and that’s a true statement.
Brett StClair: I love it.
 
 

00:48:54

 
Edwin Johnson: So um you know when people start sharing their trading which is now part of the community it actually can bolster uh you know the meme stock kind of crowd craze where you know the herd can overtake sensibility and the fact that there’s so many of them buying at the same time means that rationale goes out the window. So you can have these very unique circumstances which are accurate and they happen in real world markets today. Um the the GameStop one was clear. You know that that company is worth nothing but it’s worth 11 billion today. Ironically trying to buy eBay also.
Brett StClair: 56 billion.
Edwin Johnson: Really? Yeah.
Brett StClair: What?
Edwin Johnson: Yesterday
Brett StClair: Sorry. The
Kevin Murray: Um to to add to that, Brett, um to to your point, yes, there will be other functions within the uh mobile trading app that will allow users to interact with one another to to Edwin’s point, sharing an executed trade of whether they’re long or short on a specific team. um and seeing that movement from a community perspective and then secondarily having the chat function as well that they can speak more directly to whether they think this team’s strategy in the fourth quarter is good or bad.
 
 

00:50:21

 
Kevin Murray: And you get the fandom of sports fanatics and that community aspect talking and then you also get the training aspect coming in. And those two marrying together I think is a is a very good knowledge base of information sharing that that people can learn from on the platform.
Skye Capazorio: And also just to mention the social listening element that is associated with that I think
George Westbrook: Congratulations.
Brett StClair: Yeah.
Skye Capazorio: is huge.
Brett StClair: Just uh give me an example of a social listening mechanism.
Skye Capazorio: So understanding the sentiment that is that and and currents and trends and things like that that are being discussed within that space becomes an opportunity for us to to utilize that in in our ability to provide data and insight to potential advertising clients within that space. I think as time goes on, uh, yes, whilst there is the advertising portion and the media buying of this, as we reach a kind of this critical mass of of people that have been in the app and using it and seeing their user behavior and how that is driving the prices and moving that both within the simulation world as well as production trading enters into a space that, you know, Cody will know all too well on how that data then is monetized and supplied from a a back-end perspective from our side which becomes another revenue stream essentially for us and I think woven into that data is an element of the pulling out the the the social listening cues of what people are saying what is topical at that point
 
 

00:52:01

 
Skye Capazorio: in time because that can also help advertisers drive and move where they are placing their spend.
Edwin Johnson: Yeah. I mean, Sky, do you see an opportunity for inplay to report large trades
Skye Capazorio: End.
Edwin Johnson: on their social? So, let’s say, you know, Max is uh, you know, he sits on the sideline and, you know, he waits and he buys 10,000 shares of crack.
George Westbrook: Remember
Edwin Johnson: And because we can update the market in real time with that data, we wouldn’t obviously say max name, but we’d say, you know, a large block traded at this price at this time. And, you know, essentially push that out to our socials so they could kind of see what’s happening in those
George Westbrook: network.
Edwin Johnson: markets.
Skye Capazorio: 100% we can we can absolutely do that and I would even go a step further to to take those people that are making those large trades and decisions as we were talking Edwin when you Georgia and I had that call of where we can interface in a social environment with interviewing those people bringing it into our platforms from a content perspective understanding what they’re thinking delving a bit deeper into that space and turning that into content that we put out further.
 
 

00:53:10

 
Skye Capazorio: I appreciate not everybody’s going to want that opportunity to talk to us or might want to be a bit more incognito, but I think that there is definitely something to be said about that, but what I was talking about, we can absolutely use it in that space. But where I think it any form of data and listening at a mass provides an information plug-in for advertisers and media buyers within the space. you know, when we were having the conversation with Jamie last week and we were talking about the fact that they’re trying to launch these new leagues um within different continents and stuff like that and they they are going to go okay well how do we get an American viewer to watch something that’s played in Africa for example there is a very real world where that social listening can help inform their decisions their media buying their product development around that in that space um which becomes huge in helping to them to inform that. I mean companies like Omnicom build pro products around this
Edwin Johnson: Okay.
Skye Capazorio: listening this data information that they sell in these bundles to these people to make more informed decisions about what they’re doing in
 
 

00:54:25

 
Edwin Johnson: Great. Sounds good to me.
George Westbrook: Quick question about the the so from a users’s perspective the only so I’m trying to think so we’ve got market sentiment in the third space like they can look through the chats things like that and then obviously the largest driver of market sentiment is the price um do you think there’s something in between where obviously I appreciate for the advertisers yeah they’re going to need this information as well but maybe like summaries of what is going on in the third place for a user to be able to inform them so that they’ve got the market price, they’ve got the they’ve got the community board which they can look through, but something that’s kind of analyzed in the community board. So, people are talking about this. They’re talking about trying to think of American football players name. Um, American football player, he was seen out at this club and he was drinking last night, blah blah blah. tiny little things like that where it’s it’s not the price. It’s it’s kind of an aggregation of that third space
 
 

00:55:27

 
Edwin Johnson: Yeah, I I see a use case.
George Westbrook: information.
Edwin Johnson: I see some potential bad actors there. I mean, um I don’t want to be the summarizer of the sentiment. Um I want users to make their own journey on that and decide what’s right for them. Um you know our our goal as an exchange obviously for the simulation and trading challenge it’s really meant for buyers and sellers to meet on a safe spot with a fair playing field and they can exchange you know price and quantity. So our the information we are required to provide is the best bid and
George Westbrook: Okay.
Edwin Johnson: the best offer the last traded price and uh the order book you know how many orders are in the book you know on on price one price two price three you know that’s what we want to provide. Additionally, with with Sport Radar deal, we’re going to also have a call it a news feature all like a Bloomberg being piped into a CME group, right?
Skye Capazorio: Oops.
Edwin Johnson: I mean, how would you you call it like that, Troy?
 
 

00:56:33

 
Kevin Murray: It’s AP Newswire if you’re ever familiar with that. So this editorial news
Edwin Johnson: No, no, I understand that. I’m I’m trying to equate it to like a current trading world.
Kevin Murray: feed
Edwin Johnson: It would be akin to CME doing a deal with Bloomberg and then publishing if you subscribe to CME market data. It includes news and and other things, right, Troy? Is that
Kevin Murray: Yeah,
George Westbrook: Thanks.
Kevin Murray: they do that already.
Edwin Johnson: fair?
Kevin Murray: They provide alternative data sets in their market data offerings with third parties. Yeah.
Edwin Johnson: Who do they use?
Kevin Murray: Oh, I mean they use a lot of the I I don’t I can’t speak to anyone directly, but a lot of like the satellite a data, the oil data, like it’s those vendors that they partner with to redistribute that data through the
Edwin Johnson: Okay.
Kevin Murray: CME’s market data protocols so they don’t have to write to a different ADI.
Edwin Johnson: Got
Kevin Murray: Yeah.
Edwin Johnson: it.
Kevin Murray: So, yeah, add to that just real quickly, George.
 
 

00:57:28

 
Kevin Murray: So, not only would that be the AP editorial newswire of a licensed news feed on player news, injury news, team news, um, free agent signings, that type of stuff. We can also then bring in any inplay market data news because inplay obviously has its own proprietary trading market data that we can bring in as far as news and analysis. Um, and to your point, Edwin, that’s also where we can include something about large uh block buys or sales or stuff like that is in that news feed um on any team uh page, whether it be in the the app or elsewhere. Um is is in that news feed flow.
Edwin Johnson: Right.
Skye Capazorio: I think George what what’s important to understand here just in terms of before going too far down the rabbit hole of this third space concept and the chat function it’s not what the core offering is at
George Westbrook: Yeah.
Skye Capazorio: the well when I say at this point it’s not because in my head I have ambitions of it being something else but it is exactly what Edwin was saying it is it is a it’s a marketplace in terms of um traders coming in the right now I think that the third space function is a stickiness function it’s a social proofing function that helps to keep people within the app and engaged and and talking in that community
 
 

00:58:55

 
George Westbrook: Yeah.
Skye Capazorio: sense so that they can participate more in the trading function of the challenge where that goes in a future version so that we are able to aggregate the data the social listening and all of that sort of stuff is something to be built potentially over time because it isn’t the core focus of right now. Does that does that help answer that and round it out for you?
George Westbrook: Yeah. Yeah. Yeah. Going back to the Bloomberg terminal west thing. So obviously there’s a news aspect. I’m assuming as well there needs to be past performance as well where it’s obviously people who have scored in certain games. So you can look at say the last 10 well I all games of the season who scored how many yards were made how many how many touchdowns per quarter or whatever. I’m assuming is that that’s going to be something that’s going to be valuable as
Kevin Murray: Exactly. Yeah.
George Westbrook: well.
Kevin Murray: So with uh in that same license agreement that we have with Sport Radar, we will have not only access to the real time in-game data across every uh division one college football and NFL game.
 
 

00:59:59

 
Kevin Murray: We will also have access to historical data as well. So showing something of in this matchup team A versus team B, what what was the win and loss in the last five matchups? What is their historical data in uh you know where do they rank in yards per game on the offensive side and defensive side? Pass per game or passing yards per game, rushing yards per game. All of these data points we have access to through Sport Radar. And absolutely the data piece as far as like a uh selfanalyzing portion from our users um that they will be able to do within the the trading as
George Westbrook: Okay. Then what one other thing I was thinking is there’s on the scale of capability of a user.
Kevin Murray: well.
George Westbrook: So you’ve got on one end somebody who knows everything about trading or not everything but they they know enough that they can do everything they need to do and for them I suppose it’s just building the infrastructure for them to be able to execute what they need to do.
 
 

01:01:04

 
George Westbrook: On the other end, I’m thinking there’s somebody who doesn’t know what going long or going short is. Are they completely not in the target market at all? Is there a way that you’re going to cater for them? Is it or is it just kind of they’re going to have to just brave it?
Edwin Johnson: um so we we plan to have an educational module on all facets. So we want all traders,
George Westbrook: Mhm.
Edwin Johnson: we want people who have no idea how to buy or sell yet to become engaged. We want people who are losing money, betting on sports to come into play and I’m not going to risk my own money on sports this fall. I’m gonna I’m gonna compete here and I’m going to try to learn a different skill on how to profit from the things I know and love. Right? So yeah, I mean the the whole goal is to have a full education to to a degree, you know, which is, you know, what’s a buy, what’s a sell, you know, what’s momentum trading, you know, how do how do you trade some volatility, all different things like that.
 
 

01:02:04

 
Edwin Johnson: I would call it at a 40,000 foot level. Um, not narrowed in into any of the like more granular detail of how how you know professional might trade it.
George Westbrook: So the education piece is only for say people right at the start. Nothing say from the middle upwards. It’s just let’s get you
Edwin Johnson: Um, I would say that our focus would be on the on the,
George Westbrook: going.
Edwin Johnson: you know, the basics. Okay. Um, if the market comes back and and we’re losing traction, we may want to add some different things, but I kind of want to let the market tell us what we’re supposed to create.
George Westbrook: Yeah.
Edwin Johnson: um without, you know, going kind of over the top trying to have an idea of what solve a problem that doesn’t exist yet. How about
George Westbrook: Yeah. Okay. And then let’s let’s try and picture these these people.
Edwin Johnson: that?
George Westbrook: I think we’ve talked about before like college aged.
Brett StClair: Yeah, I was about to say let’s jump into that now.
 
 

01:03:03

 
George Westbrook: Yeah. It’s Yeah.
Brett StClair: Yeah.
George Westbrook: Like obviously I’m assuming college football, US, they’re going to be US-based. Um like what they doing? Who are they? How do they see themselves? Things like that.
Edwin Johnson: Yeah. So, I mean, we’re going to find out tomorrow if we can be global based. Okay. So, I’m hoping that we’ll be global based. Anyone from around the world who likes American football and wants to take a stab at making money in these markets, we would love to have them. Uh in fact when Troy and myself were on our last uh tour at the Ivy League schools a number of the students were foreigners okay some from Taiwan, Vietnam, China, India. Uh we said bring it back home you know to trade there too you know let people know the more and more uh global reach I think the better for us. Uh so very positive on that. And then um what did I want to say in terms of you know it’s an 18 to 55 year old who loves sports and wants to try to make some money you know engaging with it.
 
 

01:04:09

 
Edwin Johnson: That’s who our goal is. I I don’t think it’s just students. I don’t think it’s just graduates. I I I don’t think it’s people just with a college education. I want to reach truck drivers who really know football um and don’t have a way to express that other than gambling and they’re uncomfortable with a prediction market. A lot of people don’t even know what that is yet. Um you know or more more importantly they may know what it is if they don’t know how it works and really where they’re they’re they’re potentially at risk. You know, we’ve just seen, you know, I think it was Khino and Poly Market both are around 85% of the retail users are losing money in there. Um, which you would think you’ve got a 50/50 chance until you bring in the the fees and the and the cost and the spread and the lack of liquidity when you need it. It becomes very very challenging to to to make money in those
George Westbrook: And I suppose if you were to bucket that 18 to 55 into let’s say three three different things which you got the younger younger ones, the middle ones, and the people on the older end.
 
 

01:05:18

 
George Westbrook: What’s different between all of them? What do you think their those different ages are going to need to get out there that’s different? What’s just similar? Um, exactly the same. I suppose the main goal is obviously money, but in order to get to getting that money, what does each aid group need to get
Edwin Johnson: But I don’t know that the ultimate goal is just money.
George Westbrook: out?
Edwin Johnson: Um I do think younger users who want a career in finance or think they have a chance at trading uh and making great wealth. I do think that there is a component of getting familiar with financial markets without cost um and still have that potential for the money because the money is one aspect. You know, you you win, you get a ton of cash, right? But trading with something on the line um well, it’s not out of your pocket, but it’s still important to you is how the habits get formed. Yeah. I I when I first started trading, you know, the place that um I the guy that I work for, you know, after work, the market was open for two more hours.
 
 

01:06:24

 
Edwin Johnson: He would like you can trade on the sim for two hours. And I was like, you know, it it’s it wasn’t great. It, you know, I learned how to hit the buttons and click and and look at things visually, but as far as like emotionally how I would react, it it was you were completely disassociated. So in building this challenge, I wanted that to to be different so that there was an impact, a real finance financial impact. Now, is the money as important to a a person my age? Probably not as someone who’s young. Um, but I would look at this as, yeah, ultimately I guess the the goal is as much money as possible, but the benefits over time to a younger person probably are a little bit greater than an older person.
George Westbrook: And why would they why would they go for sport for inplay instead of a poly market which is obviously more prediction based or just trading on the open markets? Like why would they what would be the pain that’s driving them to go to inplay rather than something else which they could see as maybe more established?
 
 

01:07:28

 
Edwin Johnson: Well, let’s yeah, let me compare it against the traditional markets first. Okay. Number one, you have to put up money to learn how to trade. Um, I remember when I first started to come down to the board of trade, uh, one guy told me if you if I had 50 grand, he’d let me trade with him. I didn’t have 50 grand, so I couldn’t trade with him. Um, so that,
George Westbrook: Oh.
Edwin Johnson: you know, prevented me from doing it. So then I had to go through and work until I could get a backer to put up the money for me to trade because I didn’t have money trade.
George Westbrook: Huh.
Edwin Johnson: And that’s how it worked for me. Um, so if you’re if you want to trade traditional markets, it requires money. If you want to trade prediction markets, it requires money. The difference of inplay is for the challenge at least, it’s no cost to enter and no real risk. Um, also it gives access when people are probably not at work or at school.
 
 

01:08:24

 
Edwin Johnson: So, think evenings, think weekends, and trading in play. That sense of ownership you get when you buy and sell shares versus make bets or take a side in the prediction market. It’s a wholly different experience, you know, because you can buy and hold for three or four days and there could be no gains being played,
George Westbrook: You
Edwin Johnson: but you still have potential to make money. These are again path dependent, not outcome dependent.
George Westbrook: need
Edwin Johnson: And that’s the real difference here. The other thing is people just love sports. I mean that’s been borne out. I mean Kevin, what were the numbers last month for
Kevin Murray: Oh,
Edwin Johnson: Kelshi?
Kevin Murray: it was it was crazy in like in the billions of what was
Edwin Johnson: Yeah,
Kevin Murray: traded.
Edwin Johnson: I mean I think between Kelshi and Poly Market already this year the aggregate amount is over $90billionandwejustfinishedumApril.Tha{t}^{\prime }salotofmoneytobeuhputin.Imean,putinperspective,normallyforUSsportsbetting,thetotalsonthelegalsidearearound$130 billion a year.
 
 

01:09:31

 
Edwin Johnson: We haven’t hit football season yet for prediction markets. So, I expect that number to be closer to $250 billion through the prediction markets this year all
George Westbrook: Don’t you need
Edwin Johnson: in. And obviously in play,
George Westbrook: to
Edwin Johnson: we don’t compete with prediction markets. That’s not our our our thing. We don’t compete with sports betting. We live in an adjacent um location to where we have what’s called a single source pricing, a single liquidity pool. With prediction markets, you have Kelsey, you have Polyark, you got the FanDuel, CME, you’ve got a couple other upstarts that are coming up. All that fragmented liquidity is problematic for price discovery. Within play, having a global price, everyone knows what that price is. And in reality, we become the number one source for everyone to price everything else off of because this is the only single liquidity price. A sports book doesn’t have a price specific to the market. They have a sp a price specific to the uh individual that’s betting. So, it’s you against the book.
 
 

01:10:38

 
Edwin Johnson: It’s not you against, you know, you the book against the world. That’s not how it works.
George Westbrook: Okay. And I suppose going back to a question I asked ages ago about the users and what outcomes for you guys as a business. Obviously the main outcome is value money blah blah blah. Let’s go one step down from that. What what outcomes do you need to achieve and what do you need users to do in order to achieve those outcomes?
Edwin Johnson: So we need users. We we want at least a million users to be engaged with the platform for at least an hour a week. that produces roughly 1 billion minutes of consumption which Sky and her team are working on selling. That billion uh minutes of consumption in a sports ver vertical that otherwise is untouchable for most businesses in terms of cost. Um and so we aim to monetize the uh consumed minutes within the application. You know, ultimately, while we’re running an exchange, exchanges today make most of their money on data.
 
 

01:11:45

 
Edwin Johnson: They don’t make it on exchange fees. And so, in lie of us making money on data, where we aim to make money is in marketing and advertising, at least for the the the the big the big lift for the trading challenge. But if you were to cut back all the layers, Inplay is a marketing platform with a very specific product that hits an amazingly large and juicy demographic for advertisers that they all clamored
George Westbrook: Mhm. And that that if there is a revenue split,
Edwin Johnson: for.
George Westbrook: would it be 80% advertising, 10% um 10% fees?
Edwin Johnson: Other Yeah.
George Westbrook: Um, what if you were to break it down? What? What
Edwin Johnson: for for the for the challenge.
George Westbrook: is
Edwin Johnson: Yeah, it would probably be 90% of the money comes from marketing and advertising. Um, in our in our production level,
George Westbrook: Mhm.
Edwin Johnson: I would call it 7030 with 30 being the other stuff. Um, that said, we’re not charging for data in year one,
George Westbrook: Mhm.
 
 

01:12:50

 
Edwin Johnson: whether it be for the trading challenge or production. Um Cody put together an amazing uh platform where people could you know get access to different levels of market data and his historical data where they could run back tests and do all kinds of things to it. Um but in lie of of making that available for pay in year one we’re going to hold off on that. The other thing that we do make money on are those referrals to our brokerage partners.
George Westbrook: Okay.
Edwin Johnson: So, like we had mentioned,
George Westbrook: Mhm.
Edwin Johnson: if if we refer 500,000 uh users at 150 bucks a pop, it’s $75 million uh in in revenue to to
George Westbrook: Okay.
Edwin Johnson: imper
George Westbrook: So the so obviously there’s the call it the attention marketing the other you’ve got the referral you’ve got the transaction fees. Is there anything else in there?
Edwin Johnson: um the team companies we create. So underneath inplay global there’s inplay markets that acts as the uh ATS or in this case with T0 we’re going to act as a manager of the ATS and as a manager of the ATS we’re going to extract roughly 10% of the money that’s raised during the IPOs and then we also extract a lot of the money that’s been raised during the IPOs for corporate services.
 
 

01:14:16

 
Edwin Johnson: Um so those corporate services are too much to list for this call but we can provide you with u a detail of how the revenue model works across the across the
George Westbrook: Yeah.
Edwin Johnson: board.
George Westbrook: Um,
Brett StClair: Can we look a little bit into the alternative space? Um, let’s talk a little bit about your competitors. Starting with u predictive markets.
Edwin Johnson: Sure.
Brett StClair: What I’m trying to understand is um what’s good that you’re going to have to compete against.
Edwin Johnson: Sure.
Brett StClair: What’s bad where you offer a count offer that’s way better.
Edwin Johnson: Sure. So,
Brett StClair: Uh and come where those gaps lie.
Edwin Johnson: let’s start. Yeah. Let’s start with sports betting because then we’re going to go into the evolution of how markets are evolving. So in 2018 there was a ruling in the United States called the PASPA ruling whereby uh the federal government made it available for state by state to allow sports gambling. Okay. Um that was a major ruling. Currently today there are 40 states in America plus plus Washington DC that allow legalized sports betting.
 
 

01:15:36

 
Edwin Johnson: In order to operate a sports betting uh enterprise, you need a sports betting license which are granted by the states and they are expensive 10 to$20 million depending on it. And it also includes a significant revenue share. In the case of New York, I believe that’s the highest. It either is at 50% of all revenue or 51%. I’m not quite sure. Um I I don’t remember that. the um with the advent of the mobile phones, you know, sports betting back when I was involved in sports betting um you know, you would call a number, place your bet, and you’d find out whether you won or lost. But with the advent of these very very uh you know, the smartphones, a lot more is available to the user and um most of it’s very very predatory. So the spreads on how you try to make money against sportsbook, you know, they generally are what’s called a 10-cent line. The 10-cent line can grow to what be a 40 40cent line if you’re engaged with what’s called live betting or, you know, inplay betting or betting as a game exists.
 
 

01:16:41

 
Edwin Johnson: Now in Europe, soccer today, I believe it’s 88 to 92% of all bets on soccer or football for you guys are done in-game. Okay. So they they they don’t bet until the game’s already started. Okay. So that changed how the user behavior um and habit was formed. And then prediction markets got very very lucky with a ruling in a second circuit court that interpreted a line in the commodity exchange act favorably to the prediction markets started with the elections. Okay. And what’s happened is the elections were just a stepping stone to get into sports. 90% of all prediction market trading is on sporting events. And those sporting events offer a much cheaper way to engage than the alternative which is sports betting. Uh the bookmakers also it’s available in the three key states California, Texas and Georgia. None of those states have legalized sports betting. So roughly a third of the country is underserved in the sports legal sports betting. So then you come in with prediction markets.
 
 

01:17:50

 
George Westbrook: Yeah,
Edwin Johnson: the prediction markets on its face have a reasonable product until you factor in the cost. So where the you have a 10 to 40 cent edge line for sports betting depending upon how you use it. Um you’re you’re going to see an edge for the cost of a trade and the slippage
George Westbrook: Thank you.
Edwin Johnson: between a bid ask spread anywhere from six to 8% per round turn. So if you buy a contract in the prediction markets and then sell it, especially on Kshi, it cost me roughly eight cents for every contract I have. Why that’s important is the contract’s value is only a dollar. So 8% of the value is cheaper than 10% that the prediction markets, I’m sorry, that sports betting has. Sports betting has what’s called um innately what’s called a hold percentage.
George Westbrook: Please
Edwin Johnson: Their hold percentage is essentially based on how much revenue or how much wagering comes in. What percentage do they get to keep? Okay. And that that generally ranges between five and say 15%.
 
 

01:18:59

 
Edwin Johnson: Five would be an anomaly um because five would mean that people are winning.
George Westbrook: I have this.
Edwin Johnson: Now, there are times in in sports betting where the favorites cover, not this November that just passed,
George Westbrook: I’m kidding.
Edwin Johnson: but the November prior, was the winningest that the gamblers ever had. They beat the sports books, and they all had write downs in the hundreds of millions of dollars on their public uh uh forms. So, uh, it it was definitely an anomaly, but now you have prediction markets come in that’s cheaper in terms of what their hold percentage is because
George Westbrook: Okay.
Edwin Johnson: instead of trading against the sports book, you’re trading against a market in theory. Okay. Sport uh, prediction markets have one uh, for Khi one designated market maker which is called Susuana. Suscuana is a very large prop trading firm based out of Pennsylvania and um they they’ve been very much ahead of the time on sports. The interesting part about a a single designated market maker is their their goal is to provide liquidity for buyers and sellers to transact.
 
 

01:20:08

 
Edwin Johnson: But occasionally when the gains become out of hand, they have to get very wide and not provide liquidity or they’re going to definitively lose money. And what I mean by that is with the with the binary outcome of a prediction market of a a game where the value goes from zero to a dollar. Let’s say that the the team uh is losing dramatically and their value went from a 50/50 probability down to say a 10% probability. Now you would say okay there should be a bid there around 10%. So maybe eight cents, but the there isn’t because the market’s saying, “Hey, it’s a foregone conclusion. Maybe there’s a little liquidity at six, maybe a little bit at five, but all the liquidity you needs probably at two.” So the edge that you have to give up if you want to say manage your risk is is too much. So people just end up wearing the position and become buy and holders or sell and holders and wait for the outcome because what’s the difference of two cents to them and that’s generally the behavior.
 
 

01:21:12

 
Edwin Johnson: Okay, those are big problems in terms of how they function. So the user experience on those and I’ve trade poly market cali all of them I bet pretty much every day. Um it’s the betting is difficult. the the prediction markets are slightly easier, but they’re a little bit more um irritating because you you get liquidity at really s***** prices when you need it. When you really want to get out, you can’t get out and um unless you’re willing to give up a pretty significant edge to to lose your position. Uh not not great. Um, also I was recently on Poly Market and um they miscalculated my money. So I I they they owed me $900 and my account didn’t show it and I had to reach out to them and say, “Hey, I had 900 bucks. You you didn’t pay me.” And then uh it took 20 uh I’m sorry, 28 hours to respond. And then they said they’re looking into it and then 4 days later they credited my account. they admitted they made a mistake.
 
 

01:22:22

 
Edwin Johnson: That’s a huge problem. Okay. So, prediction markets don’t have the regulatory framework that say the SEC does, which is where I’m leading it in play. The SEC has insured accounts through SIPC. So, these accounts, if there’s a a problem with the exchange or whatever, up to I forget, what were you saying? 500,000 last week, guys. Yeah. I mean, every account’s insured up to $500,000.
Kevin Murray: Yeah.
Edwin Johnson: The other thing about Inplay is because we have a continuous pricing model, it doesn’t shut down after a game. It just goes throughout the season is there’ll be liquidity providers at all prices for all different reasons at different stages of every game. So, it’s much easier to trade volatility. It also means that if a game doesn’t go your way, you don’t lose all your money. You might lose some of your money’s value, but you don’t lose it all. So, the wherewithal to stay in the markets much, much better. And for a lot of people who engage in sports risk- takingaking, they really want to just be part of the action.
 
 

01:23:28

 
Edwin Johnson: They don’t want to be shut out. Um, and you know, the sports betting is very very cyclical. It’s become less I guess some of the corners have been round off with the mobile app betting, but the primary driver of sports betting is always going to be in the fall for NCAA and NFL football. You’ll see spikes around the NFL playoffs, including Super Bowl, then the NCAA basketball tournament will have a spike and a little bit on the NNBA playoffs. Not saying it’s dead, less on the NHL playoffs, but come like June, July, it’s very very very slow. And if you look at the charts of how these um sports books revenues are reported, uh it’s it’s clockwork. You can see it’s it’s virtually the same chart for every year. um prediction markets now because it’s novel and people like to trade today. The meme stock generation has created a whole new layer. People are very f uh familiar with their phone. They like taking risk on their phone. It’s it’s um it’s a natural migration from betting to trading prediction markets and ultimately we believe it’ll be a much much better experience trading the path versus the outcome on input.
 
 

01:24:54

 
Edwin Johnson: Did I miss anything boys ladies?
Kevin Murray: No, your uh betting facts are spot on, good sir.
Skye Capazorio: I think that one of the one of the biggest things in this space will be and I think this is why the trading challenge is such a a a wonderful inflection moment for inplay leading into that is that it gives this free access to come and trial it risk-free. So you get the experience without having to go all in when you may be oh prediction markets is easier because it’s binary it’s it’s this or that right it’s you know I don’t have to understand how to go through the whole thing or or doubt myself within that space and it
Edwin Johnson: That’s
Skye Capazorio: gives people those opportunities to have that experience which is
Edwin Johnson: right.
Skye Capazorio: just fantastic not not drinking the Kool-Aid but it is fantastic in terms of that and so
Edwin Johnson: Yeah.
Skye Capazorio: I think one of our biggest things is looking at um a as we as we proceed into production trading of this is that share of wallet and being very clear on how we migrate people from their into ours from a share of wallet perspective.
 
 

01:26:06

 
Edwin Johnson: Yeah, and I’ll just add one other thing. I mean, right now huge epidemic in US with younger people betting on sports, thinking that’s a way to make money. It’s not. 2025, US lost 15 billion dollars in cash betting legally on sports, much more illegally. Um but you know if you were to compare say a prediction market uh contract on sports to a futures market uh they they don’t operate that way. So like if you were going to trade the S&P futures today um you know you don’t make or lose all your money today because you’re in that futures contract. If you trade a prediction market futures contract or swap that’s exactly what you get. So if you trade prediction markets, you don’t actually learn how to trade futures. Okay? There’s no benefit on the educational front. Whereas we see inplay as a financial literacy tool whereby people may start trading on sports, but then they’re like, “Oh, I understand how equity markets work. I’m also going to trade on, you know, transport stocks or medical stocks or anything that’s more in the traditional sense.” The the big difference between say betting and prediction markets versus inplay is
 
 

01:27:27

 
Edwin Johnson: this. When you bet, the loser pays the winner. When you trade on a prediction market, the loser pays the winner. Equity markets don’t work like that. Okay? Let’s say Sky is going to buy a team at the IPO and that team goes off at 20 bucks. Then it trades to 40 bucks before the season starts. She picked a great team and the market says, “Oh, they’re going to have a great year.” And it it rises in price. She sells to you, Brett, at 40 because you’re like, “Holy s***, this is going to be amazing.” And then it goes up to 60 and Max is there. Momentum max, they call him. And he only trades momentum stocks. So now he’s like, “Okay, this thing’s on the rise. I’m going to buy it from you. You’ve made money. This guy’s made money.” And Max trades that momentum and he holds it till the team performs a liquidating dividend and it trades up to 90. But what happened there was no one lost any money, right?
 
 

01:28:29

 
Edwin Johnson: Everything went up. Everyone won. That’s what’s the difference between inplay and a prediction market. The losers don’t pay the winner. The fair value market price is what determines its value, not just the outcome of the game. And in theory, if inplay is successful enough at driving marketing revenue to the team companies, every team company could go up in value even if they lost every game. Any questions on that?
Brett StClair: just thinking about the regulatory and compliance side of things. Let’s talk a little bit about some of your constraints in that space. And I guess it’s uh maybe even starting with KYC um
Edwin Johnson: Sure.
Brett StClair: in the actual trading space versus um in the simulation space. Let’s talk a little bit about some of those constraints now that you’re going to be faced with.
Edwin Johnson: Uh, Troy, I’m tired. Do you want to talk talk about KYC or Cody or
Kevin Murray: What do you want to take?
Edwin Johnson: anybody?
Kevin Murray: Yeah. Yeah. So, well, I guess you can fill me in on how the specific trading uh aspect how we are going to handle KYC.
 
 

01:29:45

 
Kevin Murray: Correct.
Edwin Johnson: No, he he’s asking for production training.
Kevin Murray: Is that I
Edwin Johnson: So KYC it’s a standardized
Kevin Murray: mean I’m curious why we’re trying to go down that rabbit hole for production trading right now because
Edwin Johnson: uh
Kevin Murray: it’s all going to be handled by and outsourced by the vendor T0.
Brett StClair: Yeah.
Kevin Murray: Yeah.
Brett StClair: Yeah. I think it’s uh production versus the the Yeah.
Kevin Murray: Y
Brett StClair: And your simulation. Yeah. Like do you have regulatory constraints in the simulation space versus
Kevin Murray: so
Brett StClair: the the regulatory if that makes sense?
Edwin Johnson: Yeah, let’s just try to answer the question.
Brett StClair: Yeah.
Edwin Johnson: Okay. Yeah. So, with with trading
Kevin Murray: let me let me take it.
Edwin Johnson: KYC,
Kevin Murray: Sorry again. I I really want to not conflate the two too much. So for the training company
Edwin Johnson: I think he’s asking for the difference though. I don’t think he’s trying to
Kevin Murray: Okay, understood.
 
 

01:30:41

 
Kevin Murray: Thank you. So for the trading challenge,
Edwin Johnson: conflate
Kevin Murray: the KYC is really around age verification and that people are who they say they are, that bots aren’t signing up for the trading competition. People are under the age of 18 are not signing up for the trading competition. If we are subject to US citizenships only, we have to then validate they are a US citizen or based in the US, one of the two. Um, now if we expand globally, then you know we’re working with a company called Persona that will be able to expand that and do the proper KYC globally, most likely using passports or some other foreign uh documentation. But it’s really about age verification and that people that like real people are signing up for this trading competition. It’s not being signed up by bots or AIS or anything like that. That’s for the trading competition. For production, the brokers are required to do all the KYC alongside with the trading venue that facilitates the trading. So in this case, T0 and then any brokers.
 
 

01:31:46

 
Kevin Murray: Now if um inplay markets decides that we want to be a D a B TOC broker then we will have to then use our do our own KYC which we can also leverage Persona 4 or use a reggg tech software like Aventus or um one out of the other ones that will that have KYC embedded into their reggg tech solutions and with and the and the KYC for production is same thing have to be 18 and over you know we have to verify if they’re you know going able to trade in the US uh on a US
Brett StClair: Okay.
Kevin Murray: securities uh but
Edwin Johnson: They would have to sign whether they’re accredited or nonacredited investor.
Kevin Murray: that
Edwin Johnson: Anyone who’s got a beneficial interest in their account over 10%.
Kevin Murray: only for the primary offering not for the secondary offering so that’s a very good point to bring up Edwin is that
Edwin Johnson: Right.
Kevin Murray: there are different criteria for KYC for production option for the primary listing versus the secondary traded. So only on the primary listing we have to validate that they’re accredited or nonacredited.
 
 

01:32:54

 
Kevin Murray: And a lot of it is just them signing an affirmation saying yes I meet the the SEC requirements that cate categorizes me as a a credited investor. And if you’re not accredited investor then you’re subject to a certain threshold of what you can actually purchase in a primary offering. Once it moves to a secondary offering, both accredited and nonacredited investors are allowed in that space without any real limitations outside of what brokers put on them.
Brett StClair: Um, we’re heading towards nearing the end here and I just want to while we’re talking about KYC and the onboarding stuff, let’s dig a little bit into how you see the referral engines working and and driving your growth through that engine. Um, just so we can get that into the model.
Kevin Murray: Yeah. So, a customer comes in to the landing page or the mobile app and they will sign up for the trading challenge and they will go through the sign up process and then be funneled into the KYC to get approved or denied based on our um workflow there through Persona.
 
 

01:34:13

 
Kevin Murray: And then once KYC is approved, um they will have a full-fledged account credited with H 100,000 inplay dollars. on that approval of KYC. At the same time, we also want a automatically generated referral code tied to that person’s account so that then they can take that code and share it to their family, friends, schoolmates, send it in an email blast. Inplay doesn’t necessarily care how they share it. We just want them to share it. Um, then let’s say I was the person to sign up. I got the automated code. I sent that out to Kevin. Kevin then comes back in through takes my code. Comes back in through that same top of funnel. Either goes to the trading challenge landing page or the mobile app goes through the signup form. Same KYC. Once he is approved in the KYC, it triggers a uh dual side referral program. I would get a thousand dollar or inplay dollars into my referral wallet, which is different than an active trading wallet of a h 100,000 coins that you get when you sign up.
 
 

01:35:29

 
Kevin Murray: and Kevin for using the code would get 500 inplay dollars, a,000 to the referer, 500 to the referee, and then Kevin after uh finalizing KYC would get his own auto uh automated referral code specific to him so that he can go through that journey as well. Um outside of that, we also want the uh referral engine to house um other things of the the user connecting in other ways with inplay and the trading challenge of following social uh posts, commenting on social posts, following our LinkedIn page, our Facebook page, Instagram, Tik Tok, whatever it may be. Um and then also crediting some sort of inplay dollars into that referral wallet, you know, once we confirm those actions have been
Skye Capazorio: for clarity sake here.
Kevin Murray: completed.
Skye Capazorio: I just want to confirm that the KYC process I’m not I’m asking the KYC process only gets entered into once somebody has downloaded the app. Cody,
Kevin Murray: Yes. Oh,
Skye Capazorio: I think because because you said you said the two you were talking and I just wanted for clarity purposes because
 
 

01:36:50

 
Kevin Murray: sorry.
Skye Capazorio: you said on the website they could sign up for an account or download the app and I just want to make sure that we’re my understanding is that you have to download the app in order to fulfill the KYC.
Kevin Murray: Yes. Sorry,
Skye Capazorio: Correct.
Kevin Murray: I thought you were just reiterating that for the recording.
Skye Capazorio: Cool.
Kevin Murray: Yes, that is correct.
Skye Capazorio: Cool.
George Westbrook: What’s the difference between the referral dollars and the active trading? Is there a mechanism to transfer them through? Is the referral only when they’ve run out of money?
Edwin Johnson: Yes. Yeah. So once an account uh when you get your initial 100,000 once that dips below 25,000 you can top it off back to 100,000. You can never you can never use referral dollars to go to say 101,000. You can only top it off to 100,000. We we don’t want anyone to have a you know a influencer have $5 million worth of trading that someone else wouldn’t have. We want it to be as fair as possible.
 
 

01:37:53

 
Edwin Johnson: But they’d always have the backup
Kevin Murray: Yeah,
Edwin Johnson: money.
Kevin Murray: two two other points then for the recording is uh just as Evan said, once it goes below 25,000 in their trading wallet, they will be able to to tap into that. that will be the the underlying mechanism there. And then also the other point is the referral uh wallet has no
George Westbrook: Okay.
Kevin Murray: cap. So if there is an influencer that has a thousand referrals, they could potent and all a thousand sign up. Um they could potentially have a million dollars in their referral wallet. obviously to Edwin’s point can only reload up to a 100,000 in the trading wallet but have many more lives than say Kevin who gets five referral so to
George Westbrook: So how when a user first signs up,
Kevin Murray: speak
George Westbrook: are they incentivized to refer people? Because in what one of the things I’m thinking is if if it was me, I’d go in I’d go in I trade for let’s say three months of the season.
 
 

01:38:55

 
George Westbrook: I see that referral wallet. I’d think I it doesn’t make a difference if I refer somebody now at the start when I’ve got the money.
Edwin Johnson: Well, it does,
George Westbrook: Um,
Edwin Johnson: George, because it changes how you trade coming out of the So the the you know as someone who’s traded with a lot of money in my account and someone who and someone who’s traded with a little bit of money in my account I always trade
George Westbrook: okay.
Edwin Johnson: better with a lot of money in my account. So as I explained to the the students you always want to have enough capital to trade without the the worry of the money right like when you take the money out of it you trade a lot better. So, if you have that, and I I said because people ask, you know, what’s the best way for me to be prepared to compete, build the referral bank as big as you possibly can.
George Westbrook: Yeah.
Edwin Johnson: I don’t care if you get a hold of your aunts and uncles, refer them because, you know, whatever it takes to have more money behind you in the event that you have a few bad days because if you’re going to wait three months, George, what if you blow out after day three and you don’t have any money left to trade?
 
 

01:39:56

 
George Westbrook: Wait.
Edwin Johnson: There’s daily competitions you’re going to miss out on. So that’s why you’re you’re motivated immediately to start hitting that that uh referral process and try to build up that
Skye Capazorio: to just to add into that that the trigger point for that referral cash
George Westbrook: Okay.
Edwin Johnson: bank.
Skye Capazorio: to go into your account, the the person that has utilized your code has to complete the KYC,
Kevin Murray: Another
Skye Capazorio: which means that they have to have downloaded the app for that trigger to happen.
George Westbrook: Mhm.
Edwin Johnson: Download the app and the KYC.
Skye Capazorio: Yeah. Yeah, that’s what I’m saying.
Edwin Johnson: Yeah.
Kevin Murray: point to the referral piece is we also are h uh having a summer referral
George Westbrook: Okay.
Kevin Murray: program um so that people who pre-sign up prior to launch prior to August um will have opportunities uh as Edwin mentioned to preund that referral wallet. Um and we are working out some dynamics to have certain bonus multiplier days. Um for example, uh Fourth of July, you’re sitting around a bonfire with uh all of your family, you’re hanging out with your friends over the summer.
 
 

01:41:07

 
Kevin Murray: um you can get maybe one referral is actually worth 2,000 inplay dollars instead of 1,000 once the season starts. So having these inflection days or or bonus days um and the entire summer to build up your referral bank as soon as we launch the referral program and build that out into the
Edwin Johnson: Does that make sense to you,
Kevin Murray: platform
Edwin Johnson: George? Hassan,
George Westbrook: Yeah.
Edwin Johnson: you good?
Gary Anderson: So I I have a question.
Brett StClair: You’re kind of speaking to setting up campaigns,
Edwin Johnson: Yeah.
Brett StClair: right? Yeah. Go for care.
Gary Anderson: I have a question about the referral dollars. Do they always stay perpetually in the account once they have it? Is there any time it goes away or changes because of the seasons or anything? You always have those referral
Edwin Johnson: The way we have it structured now is to always have the referral dollars for the the this season.
Gary Anderson: dollars.
Edwin Johnson: At the conclusion of the trading challenge, they all go to zero.
 
 

01:42:04

 
Gary Anderson: Okay.
Edwin Johnson: We are going to try to work Hold on.
Gary Anderson: So
Edwin Johnson: We are going to try to work with sponsors so that people with large referral banks will be able to
Gary Anderson: there’s
Edwin Johnson: utilize some of those referral dollars for a special offer with the sponsors.
Gary Anderson: Okay. And the referral the referral account referral dollars the only actual real value they have other than what could possibly happen is you have you and you can transfer up to a hundred,000 in the actual trading dollars.
Edwin Johnson: Right. But if you say you had 500,000,
Gary Anderson: So it gives you it five times as
Edwin Johnson: it gives you five times to reup.
Gary Anderson: much move it. Okay.
Edwin Johnson: So,
Gary Anderson: Got it.
Edwin Johnson: Right. So, you you want as much in there as you possibly can have.
George Westbrook: So quick without going down a rabbit hole with this. So the the performance so let’s start with 100 they’re 500 grand in referral trade the 100 grand they have some sort of performance but they they lose it all.
 
 

01:43:06

 
George Westbrook: Is everything that they’ve done before kind of reset and then it’s completely fresh or is it building on from what they had before? Obviously it’s kind of the same because they’ve got zero
Edwin Johnson: when you say everything. So remember there’s there’s different competitions in this. It’s not just a winner take all. There’s daily competition. So if let’s say hypothetically George on day one you trade great and you win $10,000. On day two you trade horribly and lose all your money. you still get your cash payment of 10,000 for the day that you won,
George Westbrook: I don’t
Edwin Johnson: right?
George Westbrook: know.
Edwin Johnson: And then uh if you blow out in day two, you got to reload. So, you’re back in action on day three or hopefully later day two.
Kevin Murray: But it also ties George into those multiple leaderboards that Edwin mentioned.
George Westbrook: Okay.
Kevin Murray: So there’s the comeback trader, there’s the riskadjusted trader and the overall just regular P&L. So um losing so daily winners, weekly winners, monthly and seasonal.
 
 

01:44:06

 
Kevin Murray: So there is those three leaderboards living across all of those segments and all of
George Westbrook: Oops.
Kevin Murray: those segments living across the entire
George Westbrook: Okay, perfect.
Kevin Murray: season.
Brett StClair: I think we’re at the stage we can make start making a stab at what these components kind of
George Westbrook: Um,
Brett StClair: core components can look like. Thank you,
Edwin Johnson: Is there anything that we discussed today that anyone’s got still got a lingering question on or any
Brett StClair: Max.
Edwin Johnson: uncomfortability with in terms of how we described it?
Kevin Murray: What happened?
Edwin Johnson: I saw Hassan had a few good headshakes. Yes. Does that mean you’re a believer, Hassan? Great.
Brett StClair: This mic struggling to turn on.
Edwin Johnson: Great.
Brett StClair: So have to listen through
Edwin Johnson: No problem.
George Westbrook: It’s your fault for choosing Google for everything,
Brett StClair: us.
George Westbrook: bro.
Edwin Johnson: I heard G Google sucks. Gurgle, too.
Brett StClair: So, if I was to make a stab at the modules. So, first of all, George, of course, correct me on how we group these up.
 
 

01:45:22

 
Brett StClair: And I’m just going to list some core kind of areas. Um, onboarding as one, referral another, the homepage kind of where you go to every single day. I feel like that’s that’s a big chunk, right? Because on there you’ve got your personal kind of views on everything.
George Westbrook: Love you.
Brett StClair: You’ve got all the aggregated leads,
Edwin Johnson: your P&L, your referral
Brett StClair: P&L, you’ve got, you know,
Edwin Johnson: bank,
Brett StClair: you just want that one shot. So when you land, you’re kind of consuming. So there’s there’s a lot there.
Edwin Johnson: maybe your rankings on all three competitions that day are
Brett StClair: Um then I think
Edwin Johnson: there.
Brett StClair: there’s the you can go into like just a stats ranking page, right? So we kind of got to think of the homepage as also pulling from other pages, bringing the detail you need quickly and then you want to kind of deep dive into it.
Edwin Johnson: I think on that on that side of it,
Brett StClair: And so
Edwin Johnson: what would be interesting is if um let’s say hypothetically on the front page, you’ve got your people are going to want to know three things.
 
 

01:46:38

 
Edwin Johnson: when I log in, I only want to know what where am I at my money, where am I at my referrals and where I’m at on like earning money. So,
George Westbrook: Thanks.
Edwin Johnson: if there was something on there is like, you know, you’re 112 places away from cashing or you’re now 30 places away from cashing, it’s going to it’s going to create some additional uh stickiness, right? And you know if if and obviously with the three verticals if you had the rankings uh somewhere along somehow some way uh that would be very very impacting I think for the
Kevin Murray: I would add a fourth, Edwin.
Edwin Johnson: user.
Kevin Murray: It’s when am I going to make money or when am when is my opportunity to make money and we can showcase that in a live schedule feed of the games next games um that that uh are upcoming. Um so you absolutely know because college plays six days a week. Not a lot of people know that. People just think it happens on Saturday and that’s not necessarily true.
 
 

01:47:36

 
Edwin Johnson: Yeah.
Kevin Murray: There’s college football games on Tuesday and Wednesday of every week. And so, uh, so yeah, having that that schedule feed knowing that, yeah, if I log on in the middle of a week, I have potential to trade this game and increase my daily chances of winning. Um, and then also then from that that gives us another hook um to make that very interactive to click on a team or a a game. So, the matchup of that um and then that brings you into the next page that you were starting to reference Brett of having the stats for that game, the live match tracker, the the prices uh for those two teams and how they’re trading and an interactive chart, you know, based on clickability of those two teams and and funneling from that.
Brett StClair: So Cody, did you see that? Like call that a game page as the games happen.
Kevin Murray: Yeah, absolutely.
Brett StClair: You got, you know, so it shifts from personal page, all that information, stats, game page, all the stats we can get to it on a game page environment.
 
 

01:48:44

 
Brett StClair: And then you’ve got a team page which is more historical, more upcoming based on that particular team, who they playing next, uh players, stats on players, that kind of thing. So you got a kind of those three core Yeah.
Edwin Johnson: price chart.
Brett StClair: Sorry,
Edwin Johnson: Price chart. Yeah.
Brett StClair: your team brush chart on the team.
Edwin Johnson: Price chart of the team,
Kevin Murray: Yeah.
Edwin Johnson: right?
Brett StClair: And so you got those three kind of windows on those data sets and activities.
Kevin Murray: Yeah. Yep. Exactly. And one of those wireframes I shared into the Google Drive data dump is that game page more or less. Um, so we can go through that, but obviously want your guys’s it’s a it’s a reference suggestion at best. We want you guys to to obviously beautify and uh design that to to your liking. Um, one other point I do want to to just quickly mention is the idea of favorites. Um, so you’ll have your your favorite teams. It’ll be either your current positions that you’re you’re obviously in. Um, but also maybe you just want to follow current teams that are your favorites.
 
 

01:49:50

 
Kevin Murray: I might never buy shares in the Green Bay Packers, but I also want to follow them because there’s utility of this app that yes, you’re trading, but you’re also following along in fandom. So that’s scores, that’s, you know, stats alongside the trading experience, but it also could be following along for just the viewership of it as well. Um, and that all ties back to the number of minutes that our user is engaged with that we’re selling to these advertisers and sponsors. The training piece is engaging and enthralling, but also following scores and looking at different teams and pages and matchups all just increase that time spent in app every single day.
Brett StClair: I’m thinking on top of that there are these kind of modules from a maybe it’s group it all together is like you’re pushing notifications you’ve got your communities doing messaging following those trends and that kind of stuff that’s like a a module in itself. And then you’ve got the module that is around serving ad units in the right areas, building out the ability to report and all that kind of stuff.
 
 

01:51:10

 
Brett StClair: So like just call it like advertising for now. Um and just trying to think if we’re missing anything else on top of that. Oh, and then kind of sub component. I’ve just kind of grouped it into web pages. So you know your landing page for the challenge that kind of drives registration stroke download the app and then also we’ll wrap into that the uh inplay global site into that as well. So that’s a core component getting all that landed embedded right.
Gary Anderson: What’s
Brett StClair: The key page that um that that we haven’t actually added the ability to trade um and so I think that’s a core right that’s
Gary Anderson: the
Brett StClair: a big user journey core component that that’s got to be select right all those components swipe up left how we package that that’s a different component as well. Sorry, Gary. I spoke of you there.
Gary Anderson: no that’s all right. Um, Sky, how are you envisioning how the actual advertisement is going to look in this all these things that are going to come together?
 
 

01:52:24

 
Gary Anderson: Is it going to be like displayed along the top line? Is it going to be a button you click for advertising? Because you might not get a lot of people to look at the advertising. They got to go somewhere to do it.
Skye Capazorio: Yeah. So I think I think that there’s a few a few considerations surrounding that. I don’t think that it is a straightforward thing. I think that there’s multiple different modules in terms of the advertising from something that exists on specific pages that is a a almost like Brett and I had spoken about this previously about a banner that something scrolls behind versus things that are data feeds that actually interact with the advertising. So for example um the trading graph that’s happening in a specific game and inflection moments on that that advertisers can integrate within that space. I also think that there are other a advertising avenues or sponsorship avenues in terms of name right ownership. So just affiliation that exists within that space and then access to um to outbound communication that’s going from our side.
 
 

01:53:29

 
Skye Capazorio: So we haven’t even got into like when it it’s Troy it’s part of the mail that I’ve just sent on the CRM side like the push notifications and when that happens what does that look like when is that communication going out and that those opportunities to brand those spaces too. So there’s all these multiple different spaces that get access and then once again what is the what is the brand wanting to do in that space because you know are they wanting to just have the brand sidebyside affiliation or are they wanting a moment that somebody is actually able to click and then take them out of that which also has certain consideration ramifications for us to go well do we want people actually going outside of our app at that point in time or we just trying to trigger an awareness consciousness that then they are able to then go do other things. So we need to work out what those all look like while we’ve been having this conversation and I think that then layers into what the inventory map looks like surrounding this is that there are a lot of spaces that Cody and I have spoken about over time that we need to um almost be wary of in cannibalization and o and and crossing.
 
 

01:54:40

 
Skye Capazorio: So like if we’re offering one space in one place, what does that mean? If we start splitting things up into various different things. So for example, we offer an advertiser the opportunity to pick select games and take specific spaces in that. How many we need to then work out what is the inventory that’s available, how much one advertiser is taking and how much one other advertiser is taking. It makes the um metrics of dividing up the inventory quite intricate in that regard and not as straightforward as a tier one sponsor, a tier 2 sponsor, and a tier three sponsor if we’re going to go to that level. And the more that we talk about it, the more I see actually the value being based in being able to select that, but also from our side in being able to price those higher price ticket teams, higher price ticket games at a higher level um than just having a blanket ownership of of of through through the season and the app. And I think that’s where we need to we need to align coming out from this is why I was saying about being able to go back to the advertisers with something concrete that says that because we need to look at what the spaces are and how we’re prepared to divide that up.
 
 

01:56:00

 
Skye Capazorio: As we’ve been having this meeting, I’ve been talk I’ve been writing down the notes and wanting to look into that space to help guide what that is so that we can have that discussion about what that looks like and what the ownership spaces are because right now to answer your question Gary it’s not defined.
Edwin Johnson: Let me Yeah,
Skye Capazorio: Sorry, Edwin
Edwin Johnson: let me jump in real quick. Um, you know,
Skye Capazorio: ghost.
Edwin Johnson: so I got a couple comments, but the first is, you know, we may want to prepackage like an offering,
Kevin Murray: Yeah.
Edwin Johnson: which is, you know, you you get the title for you’re going to you’re going to be the for the Ohio State Michigan game, you get five um volatility moments, you get, you know, you’re going to sponsor this part of uh the homepage,
Kevin Murray: Heat.
Edwin Johnson: this part of the referral bank page. So basically, you know, it’s it’s not just an ad, right? It it’s it’s ultimately the whole idea here is so that these advertisers can align with key moments in sports and so the user identifies and recollects and engages with the platform and they say, “Oh yeah, remember that touchdown? Oh yeah, I was offered Doritos during that touchdown.” Or,
 
 

01:57:08

 
Edwin Johnson: you know, I ordered a 12-pack of Miller Light as a result of that interception.
Skye Capazorio: Yeah.
Edwin Johnson: I got a special offer. I want I ordered it right from there. or you know what, as soon as that game ended, I got a special Door Dash uh inquiry, right? And so it’s it’s more of a it’s not a static it’s not meant to be a static advertising wallpaper. It’s meant to be an interactive owning the moment associated with performance uh
Skye Capazorio: Yeah.
Edwin Johnson: associated with you know ups and downs along the way. So all definitely uh an experience that doesn’t exist today.
Skye Capazorio: Heat.
Edwin Johnson: Okay, like this is nowhere. You can’t watch a TV game and they can’t make an ad specific to me. Now, you know, as these people fill out their KYC’s, you know, we can go with specificity that, you know, let’s say Hassan, you know, he makes, I don’t know, cookies and he he’s a cookie guy, but he only wants to sell to 25 to 35 year olds for a half an hour after the game.
 
 

01:58:12

 
Edwin Johnson: we can tell him who those 25 to 35 year olds are and let’s say he only wants to do it within three miles of of um the game, those fans that are logged in three miles from his uh bake shop, he can do that, right? So like we have an incredible amount of outreach and uniqueness. So it’s it’s it’s a lot to cover on that, Gary. So that’s something that we we you need to get more in tune with on our side.
Skye Capazorio: I I see that just coming out of this it break you were talking about the kind of then going into the separate modules that we’ll need to focus on in terms of this and I appreciate this is a first call but there is a whole module on media space essentially and whether we are hanging our hat on segmenting by audience and that’s what we’re offering or if we’re segmenting by space in the product and and and team affiliation or both at different times and then packaging that up exactly as you said Edwin to sell what is going to be best and where we’re allow where we feel we are open to flex for the need of the cookie maker versus where we’re not open to flex because it opens us up to cannibalization of other media spaces.
 
 

01:59:33

 
Brett StClair: So, first of all, I just feel everyone deserves a round of applause for nailing this on time. First f****** incredible like amazing. Um,
Edwin Johnson: Yeah.
Brett StClair: next steps from our side, we are going to go run this through our models, do necessary prep work. Um what we’re going to be trying to do is build baseline on how we’re going to guide
Edwin Johnson: Heat.
Brett StClair: the um modular sections. Um we will have that ready and packaged. I’m going to put time in everyone’s diaries just module one module 2 module 3 for now. And as the engine preps it and gets all that ready so that we can have as effective modular sessions based on those kind of core components. I might add an additional one. Just looking at the numbers, it’s slightly out. Um, and we’re going to try to do those in 90 minute sessions. We bang all of those out. We gather all the detail. Now, we’ve got enough to then start rolling the engines.
 
 

02:00:39

 
Brett StClair: And what we’re going to do is at the end of all the modules is let’s pick one that we want to start with. Um, do you want to jump in and and share your view,
George Westbrook: Yeah. So, one of one of the things I think we’ll do after this is we’ll we’ll go away and have a first hit of where we see these buckets
Brett StClair: George?
George Westbrook: or modules. Um, in my head, I’ve got a idea already. Um, so things like that information section, um, Bloomberg Terminal S, the trading part, the landing page, um, the Inplay Go global page, the onboarding, the referral that that’s where I see the buckets at the moment. Um and then that’s where we’ll start we’ll start building things um when we’re ready. Um which will be very very soon. Um two of the buckets we’re already working on are obviously the landing page, the rough version. Um that feedback mechanism I talk about that that should be done by the end of the week. Starting work on the inplay global website as well.
 
 

02:01:44

 
George Westbrook: um that’s more going to be conceptually design and then we’ll nail down the the copywriting and then after say some of the deeper discussions into say like the trading experience and the Bloomberg terminal stuff then there’ll be more stuff to see which will be clicking around playing with it getting the look and feel All
Edwin Johnson: Cool. We I’ve been working on some copy for our you know our banner or whatever we’re
George Westbrook: right.
Edwin Johnson: calling it. What are we calling it?
Skye Capazorio: landing page.
Edwin Johnson: Scott not no the thing the flyer.
Skye Capazorio: The landing page, the
Edwin Johnson: So the flyer which led me into the our what I want to do for our updated inplay
Skye Capazorio: flyer
Edwin Johnson: global website landing page and the inplay trading challenge landing page. We want to all look and feel and be very very connected. They don’t have to be the same obviously,
George Westbrook: No.
Edwin Johnson: but very connected. And uh we we’ve come up with some things that we really like uh which we’ll be able to share in terms of um copy and maybe visual um because we want to be as clean as possible, you know, different colors.
 
 

02:02:49

 
Edwin Johnson: We got a white background, something that’s a little bit more um easy on the eyes, and then focus more on the mockups. So once once we actually have a a mobile app mockup, we can put it on the website and that can be fully colored and all the rest of it, but the it it really pops. And the group we went through a number of things. I think we we did like what we came up with yesterday, right? Sky and Cody.
Skye Capazorio: Yeah. Yeah. Yeah. Absolutely.
Edwin Johnson: Yeah.
Skye Capazorio: And and you’ll see Sorry.
Kevin Murray: Yeah.
Edwin Johnson: So we’ll share that.
Skye Capazorio: Sorry for interrupting.
Edwin Johnson: No, no, please go ahead.
Skye Capazorio: No, no, no. And so another thing is like we’re also working on the the social outcomes and Brett we’re doing that whole the strategy interview tomorrow but um you know we’ll want to be using and and kind of creating cohesion of the visual language as much as possible as it goes through all these elements. So I think you know whilst it doesn’t all have to look identical carbon copy of each other it needs to look like it’s part of the same brand family.
 
 

02:03:44

 
Skye Capazorio: Um, and we want to make sure that that that lives that lives
George Westbrook: Yeah,
Skye Capazorio: cohesively.
Edwin Johnson: Cool. Okay. Thank you all. Anything else today for us,
George Westbrook: perfect.
Edwin Johnson: Brett? I have one last question, though. George,
Skye Capazorio: Cool.
Edwin Johnson: how old are you?
George Westbrook: Guess
Edwin Johnson: I mean, I I mean, you look like you’re 22 years old, but I I’m going to guess 29.
George Westbrook: 20 25 close.
Edwin Johnson: You’re 25.
George Westbrook: Yeah,
Edwin Johnson: Okay,
George Westbrook: rough rough 25.
Edwin Johnson: rough 25.
George Westbrook: It’s been a long
Edwin Johnson: You’re not going to believe this. I’m under 100. I know it’s
George Westbrook: life.
Edwin Johnson: different.
Max Kingaby: No,
Brett StClair: No idea what rough means.
Max Kingaby: I do.
Brett StClair: George
Edwin Johnson: Um, you’ve been uh but George, you’ve got you seem to be very experienced in this type of stuff.
George Westbrook: Yeah. Yeah.
Edwin Johnson: So, it’s very very nice, very comforting.
George Westbrook: Yeah. I’d say it somewhat obsessed fortunately and
Edwin Johnson: Good to know. Yes. Okay.
George Westbrook: unfortunately
Edwin Johnson: Um well, thank you all for your time today. Anything else, Captain Brett?
Brett StClair: You’re all free to
Edwin Johnson: All have a wonderful day.
Brett StClair: go.
Edwin Johnson: Look forward to seeing everyone soon.
Skye Capazorio: Thanks all.
Edwin Johnson: Thank you, Hassan. Thanks, Max.
Kevin Murray: All right.
Max Kingaby: Cheers guys.
Skye Capazorio: Thanks all.
Edwin Johnson: Thanks,
George Westbrook: Thank you.
Max Kingaby: Speak soon.
Skye Capazorio: Bye.
Kevin Murray: Yeah.
Max Kingaby: Bye.
Brett StClair: Bye-bye.
Kevin Murray: Byebye.
 
 

Transcription ended after 02:06:21

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