# Legacy Name: Built Fanbase social media app that enables instant monetization, with no censorship.

An episode of [Money Making Conversations Master Class](https://invisiblenetwork.ai/podcast/1264705641), 15 Oct 2024, 28 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/b1db7263-d1a3-4d00-8976-af62012aab44/99c768ee-1718-4080-8689-b20700ea8f0e/audio.mp3?utm_source=Podcast&in_playlist=35a10561-3e1b-4d05-a529-af62012aab6a

Listen and subscribe to Money Making Conversations on iHeartRadio, Apple Podcasts, Spotify, www.moneymakingconversations.com/subscribe/ or wherever you listen to podcasts. New Money Making Conversations episodes drop daily. I want to alert you, so you don’t miss out on expert analysis and insider perspectives from my guests who provide tips that can help you uplift the community, improve your financial planning, motivation, or advice on how to be a successful entrepreneur. Keep winning! Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed, Isaac Hayes, III. Entrepreneur, technology innovator, producer, and CEO of Isaac Hayes Enterprises. The discussion centers on his management of the Isaac Hayes legacy, the importance of intellectual property ownership, the evolution of social media, and his vision for Fanbase, a creator-focused social media platform. Purpose of the Interview The interview was designed to: • Introduce Isaac Hayes III as a tech entrepreneur and business leader. • Educate listeners about music publishing, copyrights, licensing, and ownership. • Share the vision and business model behind Fanbase. • Highlight the importance of ownership and wealth creation through intellectual property. • Demonstrate how technology and social media can be used for business growth and community empowerment. Key Takeaways 1. A Famous Name Can Be Both an Advantage and a Challenge Hayes explained that growing up with the Isaac Hayes name initially created barriers because people often assumed his opportunities came from family connections. Over time, however, the reputation and respect associated with his father's legacy became an asset in business. Takeaway: Legacy can open doors, but long-term success depends on proving your own value. 2. Intellectual Property Creates Generational Wealth A major focus of the conversation was the value of owning copyrights, publishing rights, and master recordings. Hayes emphasized that the biggest financial opportunities in music often come from ownership rather than performance. Takeaway: Creators should understand and protect their intellectual property because it can generate income long after the original work is created. 3. Music Publishing Is an Asset Hayes compared music publishing to real estate, explaining that ownership creates long-term value and recurring revenue. Takeaway: Treat intellectual property as an investment asset, not just a creative product. 4. Social Media Has Become the New Television Hayes described the transition from desktop-based platforms to mobile-first social media and explained how phones have become the primary way people consume content. Takeaway: Social media is no longer simply a communication tool. It is one of the dominant forms of entertainment and media consumption. 5. Culture Drives Platforms, But Ownership Matters Hayes argued that Black culture has significantly influenced music, entertainment, and social media trends, yet ownership of the platforms often remains elsewhere. Takeaway: Communities that create value should also have opportunities to own and profit from the platforms they help build. 6. Fanbase Was Built for Creators Hayes created Fanbase to give creators greater reach and better monetization opportunities. Key features include: • Direct subscriptions from followers • Mobile-first monetization • Reduced reliance on advertising • Greater creator control over audience engagement Takeaway: The future of social media may rely more on direct creator-to-fan relationships than advertiser-driven business models. 7. Community Investment Is Powerful Instead of relying solely on venture capital, Hayes discussed raising funds through equity crowdfunding, allowing everyday supporters to invest in Fanbase. Takeaway: Community ownership can create broader wealth-building opportunities and strengthen support for emerging businesses. 8. Social Media Can Influence…

## Transcript

[0:06] Speaker 1: Welcome to the show. I'm Rashaan McDonald, the host of
[0:09] Speaker 1: Money Making Conversations Masterclass, where we encourage people to stop
[0:13] Speaker 1: reading other people's success stories and start planning their own.
[0:17] Speaker 1: Listen up as I interview entrepreneurs from around the country,
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[0:27] Speaker 1: in their local communities.
[0:29] Speaker 2: Now, sit back and listen as we unlock the secrets
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[0:36] Speaker 2: and information that this show provides are for everyone. It's
[0:39] Speaker 2: time to stop reading other people's success stories and start
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[0:45] Speaker 2: American dream. Just keep listening, hanging in with me. I'll
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[0:53] Speaker 2: to Money Making Conversation Masterclass. If you want to be
[0:56] Speaker 2: a guest on the show, please visit Moneymakingconversation dot com
[1:00] Speaker 2: and click the b a guest button and submit your information.
[1:03] Speaker 2: IF will screen your information and if if it's the
[1:05] Speaker 2: type of guests we want on the show, I will
[1:08] Speaker 2: personally contact you and we'll see how that goes. Now,
[1:11] Speaker 2: let's get started with my guests. My guest's career.
[1:14] Speaker 1: In business started in twenty thirteen, with him serving as
[1:17] Speaker 1: president and CEO of Isaac Hayes Enterprises, managing the name
[1:22] Speaker 1: Image Likeness, Brand Masters, and publishing catalog of his soul
[1:27] Speaker 1: icon father, the late Isaac Hayes. He is also a
[1:31] Speaker 1: visionary with the goal to change social media forever. That
[1:35] Speaker 1: vision is fan based. Please welcome the money making Conversations masterclass,
[1:40] Speaker 1: Isaac Hayes. How you doing, my brother?
[1:43] Speaker 3: What's good? What's going on?
[1:44] Speaker 1: How are you come on with this strong voice in
[1:46] Speaker 1: my little raggedy voice. Come on, Isaac, don't do me
[1:48] Speaker 1: like that.
[1:49] Speaker 3: Man.
[1:49] Speaker 1: Don't do me like that.
[1:50] Speaker 3: Man.
[1:50] Speaker 1: That strong, powerful voice he just popped out of there.
[1:53] Speaker 1: How you doing so, you're doing good?
[1:55] Speaker 3: I'm doing great on this rune. How are you well?
[1:57] Speaker 1: You know, I'm glad you came on the show because
[1:59] Speaker 1: of the fact that you know, it's been a period
[2:03] Speaker 1: here like Lebron and his father, you know, LEBRONI and
[2:05] Speaker 1: Lebron's playing and you and you get into this point
[2:08] Speaker 1: where you you have a famous name that you that
[2:11] Speaker 1: you were given. What is there a burden or is
[2:15] Speaker 1: there a blessing for you? Can you can you can
[2:18] Speaker 1: you share that with my audience before we get into
[2:20] Speaker 1: your interview.
[2:21] Speaker 3: I think it's both. I mean, I started out as
[2:24] Speaker 3: a music producer in the year I produced music from
[2:28] Speaker 3: two thousand to like two thousands almost twenty, I mean,
[2:32] Speaker 3: you know, seventeen, probably even ninety nine twenty, and so
[2:34] Speaker 3: in the beginning, it kind of hurts you to the
[2:38] Speaker 3: point where I think people don't think you're very serious
[2:40] Speaker 3: about being a producer, think that you've got it made,
[2:43] Speaker 3: or you know, it's pretty easy. So some point changed
[2:46] Speaker 3: my name very early on as a producer to a
[2:48] Speaker 3: to a producer. Ain't that nobody would know that it
[2:51] Speaker 3: was educating her So I could, you know, really just
[2:53] Speaker 3: make my music and get the jobs and get placements
[2:58] Speaker 3: based off the fact of who other music and who
[3:00] Speaker 3: my father was. Now, as you're older, as I'm older,
[3:03] Speaker 3: and I'm moving up the ladder of success in business,
[3:07] Speaker 3: you know, my father's name holds a lot of respects
[3:10] Speaker 3: in a lot of rooms in industries because of the
[3:13] Speaker 3: type of person that he was. And so I think
[3:15] Speaker 3: it helps you know when you when you I mean,
[3:17] Speaker 3: I'm able to meet people like Samuel L. Jackson or
[3:20] Speaker 3: Denzel Washington or people that are in business that knew
[3:22] Speaker 3: my father and say they have a lot of great
[3:23] Speaker 3: things to say about him, and so it helps, but
[3:26] Speaker 3: it takes a while to transition to first it hurts.
[3:28] Speaker 3: And I think that's the thing with that will happen
[3:30] Speaker 3: with any famous you know, a child of anybody's famous.
[3:33] Speaker 3: So the hurting the beginning going to hurt Brian in
[3:35] Speaker 3: the beginning because people think about basketball, you're not dad.
[3:39] Speaker 3: But down the line, ten fifteen years down the line,
[3:42] Speaker 3: it's going to help him a lot. It's going to
[3:43] Speaker 3: help him tremendously.
[3:44] Speaker 4: We know.
[3:44] Speaker 1: I love about the whole interview about you is that
[3:48] Speaker 1: you you've embraced the entrepreneur side of this industry, as
[3:52] Speaker 1: is your dad because of the fact that you have
[3:54] Speaker 1: a catalog and a brand that he understood and valued
[3:58] Speaker 1: in his talent. You know, I always tell everybody my
[4:01] Speaker 1: favorite all time Isaac hay movie is Truck Turner. That
[4:04] Speaker 1: was That was my movie, Isaac truck Turner. Boy. I
[4:07] Speaker 1: can start reciting lines even though heroes in that boar
[4:10] Speaker 1: that was my movie. Because these these are brands that
[4:13] Speaker 1: live with people there's music. You know, the soundtrack Chap
[4:18] Speaker 1: is a classic. It's one of the all time great
[4:22] Speaker 1: music pieces that ever been distributed. But what we don't
[4:25] Speaker 1: realize was the music that your father produced, the music
[4:28] Speaker 1: he wrote. Tell us about that background.
[4:31] Speaker 3: Well, my father started out as a session musician at
[4:33] Speaker 3: Stax Records on oldist writing songs, you know, you know,
[4:40] Speaker 3: stuff like that, like arranging and doing stuff like that
[4:42] Speaker 3: him and David Porter made this this partnership, became a
[4:45] Speaker 3: songwriting producing team in Stax, writing hundreds of songs, songs
[4:49] Speaker 3: like doing Something's Wrong with My Baby and soul Man
[4:53] Speaker 3: and fold Them I'm coming from like nineteen sixty three
[4:55] Speaker 3: to nineteen sixty nine, so six years they wrote just
[4:59] Speaker 3: so many that were just amazing. And so that's that
[5:03] Speaker 3: really transitioned him becoming a solo artist in nineteen sixty nine.
[5:07] Speaker 1: Wow, you know that that whole because that's really what
[5:10] Speaker 1: we start talking about getting paid. You know, you have
[5:13] Speaker 1: you have an artist who performs the song. Then you
[5:16] Speaker 1: have the breakdown that whole strategy. Yeah, I heard the
[5:19] Speaker 1: word licensing, I hear the word publishing, and I hear
[5:23] Speaker 1: performing artists. The performing artist is the person that is
[5:27] Speaker 1: really only gets paid for performing. It's the I think
[5:30] Speaker 1: the licensing and the publishers where the money really it
[5:33] Speaker 1: becomes residuals and you can get paid on an ongoing basis. Correct.
[5:37] Speaker 1: Can you explain to my audience how that works.
[5:40] Speaker 3: Yeah, So a copyright has two sides, as a master
[5:44] Speaker 3: and as a publishing. The master's a sound recording. So
[5:46] Speaker 3: whatever the song eventually is, it's laid out on two
[5:49] Speaker 3: tracks or two tracks, or it's laid out on you know,
[5:54] Speaker 3: a stream or whatever. The record company typically owns that
[5:57] Speaker 3: and then the publishing is owned by the tworiters, the
[6:00] Speaker 3: or the one writer whoever wrote the song. So typically
[6:03] Speaker 3: few people that do that. And then what happens is
[6:05] Speaker 3: publishing deals are done. So when the publisher is done,
[6:09] Speaker 3: they're they're they're that that I signed to another individual
[6:14] Speaker 3: who takes that and then exploits that copyright on behalf
[6:17] Speaker 3: of the songwriter all will control to be able to
[6:20] Speaker 3: do the things that they do. Right. That that part
[6:24] Speaker 3: is a little difficult to kind of understand and important
[6:26] Speaker 3: because that right there is really the main you know,
[6:30] Speaker 3: where the money is. And so a lot of times
[6:31] Speaker 3: people assigned their rights and that's something that my dad
[6:33] Speaker 3: did as a songwriter early on, and so once he
[6:35] Speaker 3: did that, he would have access or get control of
[6:38] Speaker 3: that music for another fifty six years.
[6:40] Speaker 1: Right, you know it always it always amazes been man
[6:43] Speaker 1: because you know you're bad your dad and many others.
[6:46] Speaker 1: When you say great names like oldest writing and all
[6:48] Speaker 1: these individuals, rach Hall's, they had the I want to say,
[6:52] Speaker 1: the genius, the clear understanding that my work I want
[6:57] Speaker 1: to control that. Can you talk about the the uh
[7:02] Speaker 1: the courage to be able to walk in do it
[7:06] Speaker 1: racist times and be able to say I want ownership,
[7:09] Speaker 1: I want my rights.
[7:12] Speaker 3: Well, I mean a lot of Well here's the thing.
[7:14] Speaker 3: I think most of the most of the music industry
[7:17] Speaker 3: was you know, exploited to all all types of artists.
[7:20] Speaker 3: It was very rare the artists got to maintain control
[7:24] Speaker 3: of their topic.
[7:24] Speaker 4: Right.
[7:24] Speaker 3: I think you know that that part was was was
[7:28] Speaker 3: very very hard and difficult, and so a lot of
[7:31] Speaker 3: artists you know, got exploited and so that was tough.
[7:35] Speaker 3: I think people didn't know the business and understand up thing.
[7:39] Speaker 3: To anybody out there that wants to know what music
[7:41] Speaker 3: publishing is, I just say it's musical real estate. You
[7:43] Speaker 3: own it until you sell it, and it's yours in
[7:46] Speaker 3: perpetuity until you do some sort of deal with it.
[7:48] Speaker 3: And so as long as you hold onto that musical
[7:50] Speaker 3: real estate, you own it forever, as long as you know,
[7:53] Speaker 3: continue to make the right you know, deals and moves
[7:55] Speaker 3: to that kind of stuff. So they had to have
[7:57] Speaker 3: courage to to be able to kind of fight for
[7:59] Speaker 3: their music rights. Unfortunately though, a lot of artists, including
[8:02] Speaker 3: my father, never really got the chance to do that,
[8:05] Speaker 3: especially in the Stack situation because of the bankruptcy and
[8:08] Speaker 3: all things that happen over at Stax Records.
[8:10] Speaker 1: Right right right, Because now I know I've done a
[8:14] Speaker 1: lot of concerts Isaac, and when I do a concert
[8:16] Speaker 1: or music concert and I use the music to bring
[8:20] Speaker 1: a comic out, amuse the music to play, I gotta
[8:23] Speaker 1: pay fees for that. That's part of the publishing or
[8:27] Speaker 1: licensing for because I'm in a paid venue. That's I
[8:31] Speaker 1: have to pay those fees to play the music. Is
[8:33] Speaker 1: that That's how it works. Correct.
[8:35] Speaker 3: Every venue, So think about this. Every venue, so it's
[8:38] Speaker 3: a stadium, a nightclub, or restaurant, they do a deal
[8:41] Speaker 3: with p r os that allow them to play as
[8:44] Speaker 3: much music as they can based on the capacity of
[8:47] Speaker 3: the venue and then an estimated you right, yeah, over
[8:52] Speaker 3: like an annual amount of time. So it could be
[8:54] Speaker 3: if it's a large theater, like you know, a big arena,
[8:56] Speaker 3: that's one price. If there's a restaurant or a nightcup,
[8:58] Speaker 3: it's another price. And then that's that money goes to
[9:00] Speaker 3: pay the writers. And so yeah, most you know, anytime
[9:04] Speaker 3: you hear music played in and arenas and stuff like that,
[9:07] Speaker 3: those deals have been done.
[9:09] Speaker 1: You know, I'm gonna transition now because of the fact
[9:11] Speaker 1: that I just want to set the background for everybody
[9:15] Speaker 1: of who Isaac Hayes the third is. You know, he's
[9:17] Speaker 1: an entrepreneur and now used to work visionary in your opening.
[9:21] Speaker 1: Because I'll be honest with you. When social media came out,
[9:24] Speaker 1: I remember I was still managing Steve Harvey at the time.
[9:26] Speaker 1: We had this amazing fan club list about seven hundred
[9:30] Speaker 1: and fifty thousand fan club members. So and I didn't
[9:34] Speaker 1: really appreciate understanding the value of social media. Even though
[9:38] Speaker 1: I would look at television, especially news CNN at the time,
[9:42] Speaker 1: I would always see the Twitter logo, just Twitter logo,
[9:46] Speaker 1: Facebook or whatever people have already promoted followed me follow me,
[9:49] Speaker 1: and I thought that was amazing. They're not paying for this,
[9:53] Speaker 1: but they encourage people. They saw the power of social media.
[9:58] Speaker 1: When did you start really value between the power of
[10:02] Speaker 1: social media, Isaac?
[10:05] Speaker 3: I would probably say two thousand, like eight or nine,
[10:09] Speaker 3: because because really social media started changing the way that
[10:12] Speaker 3: we communicate and it really gave people an opportunity to
[10:15] Speaker 3: reach large amounts of people in real time. Even though
[10:18] Speaker 3: this is before like you know, cell phones became smartphones
[10:22] Speaker 3: and transition to that. But I was I was a
[10:24] Speaker 3: MySpace guy, I was a Facebook guy, I was a
[10:26] Speaker 3: Twitter guy. These are all things that were on desktop computers.
[10:29] Speaker 3: And then when Instagram came out, that's when everything changed
[10:32] Speaker 3: in my opinion, because it was the first mobile, first
[10:34] Speaker 3: device that was image based on you know, on smartphones,
[10:39] Speaker 3: and that kind of opened the door that I felt
[10:41] Speaker 3: like it changed the way that people distributed and disseminated
[10:45] Speaker 3: content and actually consumed content. Is now the content comes
[10:48] Speaker 3: directly to your phone. You're not watching a television, You're
[10:50] Speaker 3: not running to your laptop right this content.
[10:53] Speaker 1: Okay, I understand what you're saying right now, because that's
[10:57] Speaker 1: why the industry, the social media industry, really is a
[11:00] Speaker 1: mobile industry correctizing.
[11:03] Speaker 3: So it's changed over the last twenty years. Right, if
[11:05] Speaker 3: we go back to like Facebook came out in two
[11:07] Speaker 3: thousand and four. Okay, you first came there was people
[11:10] Speaker 3: writing on your wall. You know, it was more comments
[11:12] Speaker 3: and images, right, it was comments and images and comments.
[11:16] Speaker 3: Right when you get to the mobile era and we
[11:18] Speaker 3: put video. Now that video got added to social media.
[11:22] Speaker 3: Every single person on social media is a television network
[11:25] Speaker 3: now it's TV. Now. You scroll your feed like you're
[11:27] Speaker 3: watching channels. You're watching these small one minute, two minute,
[11:30] Speaker 3: five minute clips on social media that can really entertain
[11:34] Speaker 3: you just as much as watching television. And what's remarkable
[11:37] Speaker 3: about that is we're finding out that people will sacrifice
[11:40] Speaker 3: a large screen for the ability to move with their screen.
[11:44] Speaker 3: So rather have a big eighty five minutes TV in
[11:46] Speaker 3: your house and watch the game, you would sacrifice that
[11:49] Speaker 3: to be able to watch the game on the train,
[11:51] Speaker 3: on the plane at work. Oh you are. And so
[11:54] Speaker 3: that's where it became. Now social media is now an
[11:57] Speaker 3: entertainment vehicle. It is the new form of entertainment. It
[11:59] Speaker 3: is the new televisions.
[12:01] Speaker 1: Never to ask you this, I'm gonna call you an expert.
[12:03] Speaker 1: Now because you everything comes out of your mouth. Because
[12:07] Speaker 1: it was two thousand and eight, two thousand and nine
[12:09] Speaker 1: where I was denouncing that, you know, we're gonna stick
[12:12] Speaker 1: with this, this whole process, and then about twenty ten,
[12:16] Speaker 1: I want, you know, some Steve Harvey, we need to
[12:19] Speaker 1: start getting into this social media because you know, at
[12:22] Speaker 1: that point, we started seeing our competition. When I say
[12:25] Speaker 1: our competition, our other fellow comedians having four hundred thousand followers,
[12:29] Speaker 1: seven hundred thousand followers, and because really I started realizing that,
[12:33] Speaker 1: you know, people are starting to because if you had
[12:37] Speaker 1: a fan club, people couldn't see your fan club members,
[12:41] Speaker 1: but when you had social media, they could see the engagement.
[12:44] Speaker 1: That was the difference maker which sold me on social media.
[12:48] Speaker 1: Realizing that you can now publicly display your success story
[12:53] Speaker 1: on social media where the fan club email base you
[12:57] Speaker 1: couldn't do that. Is that really the big change for you?
[13:00] Speaker 1: Or you saw that beyond.
[13:02] Speaker 3: That, Well, what I saw was the fact that that
[13:07] Speaker 3: that black culture was really elevating social media. The first
[13:11] Speaker 3: thing I noticed is that black culture elevates all the
[13:14] Speaker 3: infrastructures of entertainment, but we don't own them. Basically, like
[13:19] Speaker 3: if you take the NFL, the NBA, the music industry,
[13:23] Speaker 3: social media. These are primarily industries that are owned by
[13:26] Speaker 3: small groups of white people that exploit young people and
[13:31] Speaker 3: black culture for billions and billions of dollars, right, and
[13:36] Speaker 3: so we don't have any ownership of those things. And
[13:40] Speaker 3: that's when I started to notice that there was a
[13:42] Speaker 3: deficit in that, because you know, these companies winund up
[13:45] Speaker 3: being worth billions and trillions of dollars. But at the
[13:48] Speaker 3: end of the day, who really benefits from that but
[13:51] Speaker 3: the small group of people that were allowed to invest
[13:53] Speaker 3: in these companies at an early stage before anybody. And
[13:57] Speaker 3: then the black culture in the black community comes on
[13:59] Speaker 3: there and makes it the most popular thing on planet Earth.
[14:02] Speaker 3: And now these pool of the investors are in the background,
[14:04] Speaker 3: and they're the ones that are creating generational wealth for
[14:07] Speaker 3: their families off of the intellectual property of young people
[14:10] Speaker 3: in black culture.
[14:12] Speaker 4: Please don't go anywhere. We'll be right back with more
[14:15] Speaker 4: Money Making Conversations Masterclass. Welcome back to the Money Making
[14:28] Speaker 4: Conversations Masterclass hosted by Rashaan McDonald. Money Making Conversations Masterclass
[14:34] Speaker 4: continues online at Moneymakingconversations dot com and follow money Making
[14:39] Speaker 4: conversations masterclass on Facebook, Twitter, and Instagram.
[14:44] Speaker 1: Wow. Now when you talk about all these things, fan base,
[14:49] Speaker 1: you know, offer start on this side of that. What
[14:51] Speaker 1: exactly is fan base?
[14:54] Speaker 3: So fan base is a social media platform that is
[14:57] Speaker 3: just like Instagram, TikTok, the current social apps, with a
[15:02] Speaker 3: couple of additions. One do not run ads. And what's
[15:06] Speaker 3: important about not running advertising is not I'm not beholden
[15:09] Speaker 3: to publicly traded shareholders or advertisers who can sometimes suppress
[15:16] Speaker 3: and shadow band and censor people's content based on the
[15:19] Speaker 3: fact of who the platforms they spend money with. I
[15:21] Speaker 3: didn't want to do that because number one, it creates
[15:26] Speaker 3: a limitation on the amount of people that can see
[15:28] Speaker 3: your content. So I asked this question a lot to people.
[15:31] Speaker 3: It's a rhetorical question, but basically, why would Instagram let
[15:34] Speaker 3: you post a video or if you're talking about Steve Harvey,
[15:37] Speaker 3: why would Instagram let Steve harv or anybody post a
[15:39] Speaker 3: video or let you let it reach ten million people
[15:41] Speaker 3: for free? Where they're going to literally turn around and
[15:45] Speaker 3: charge Domino's Pizza money to reach ten million people with
[15:48] Speaker 3: they're advertising right going to do that because if Steve
[15:53] Speaker 3: Harvey or any person with millions of followers could reach
[15:56] Speaker 3: those people for free. The advertisers would come directly to
[15:59] Speaker 3: the person with the following and pay them to those
[16:02] Speaker 3: ads on their page and never spend money on Instagram
[16:05] Speaker 3: or Facebook. So for that reason, they suppressure content. So
[16:08] Speaker 3: I don't care how many followers Steve Harvey, Beyonce, to Rock, Whoever, Party,
[16:12] Speaker 3: b Drake, anybody has on social media, They'll never reach
[16:15] Speaker 3: their full following because the advertisers have to make money
[16:19] Speaker 3: off that reach. So at Fanbase, I wanted to say, look,
[16:22] Speaker 3: I don't care how many followers you have more social media,
[16:24] Speaker 3: I don't care how you get If you have one
[16:27] Speaker 3: hundred million people they follow you on fan Base, we're
[16:28] Speaker 3: sending your content to ae hundred million people. That's the
[16:31] Speaker 3: first and foremost And secondly, there's a monetization component to
[16:34] Speaker 3: the platform that allows people to have subscribers. That's the
[16:37] Speaker 3: first thing that really came to my mind. I said,
[16:38] Speaker 3: we need a social media platform where people can additionally
[16:42] Speaker 3: subscribe to the same person that they follow, like Netflix
[16:46] Speaker 3: for extra content. So I want to be able to
[16:48] Speaker 3: subscribe to the same person I follow if I follow
[16:52] Speaker 3: you or Steve Harvey, or Lebron James or anybody like that.
[16:57] Speaker 3: I can also subscribe to that same person monthly for
[17:00] Speaker 3: additional content that they won't share anywhere else. And that
[17:03] Speaker 3: was the birth of fan Base, and that really set
[17:05] Speaker 3: us apart back in twenty eighteen when I started to
[17:07] Speaker 3: build the company, because no other platform did that. I'm
[17:10] Speaker 3: the first social media platform and founder to create a
[17:14] Speaker 3: mechanism where people could subscribe to people using InApp purchase.
[17:17] Speaker 1: Now you create in the social media entrepreneurs basically entrepreneurs.
[17:23] Speaker 3: And well, it existed other play it existed through credit cards,
[17:28] Speaker 3: So platforms that allowed you to subscribe to people through
[17:31] Speaker 3: current credit cards that existed, not mobile devices, so not
[17:34] Speaker 3: being able to iPhone or you're android to subscribe directly
[17:38] Speaker 3: to a person by just using a fingerprint or a
[17:41] Speaker 3: face scan. And that changes the speed in which you
[17:43] Speaker 3: can monetize and make money as a content creator. Anybody can.
[17:46] Speaker 3: So that changed the game and that's really what we brought.
[17:49] Speaker 3: No other platform did that before fan Base.
[17:51] Speaker 1: Cool, We're gonna go to break come right back with
[17:53] Speaker 1: mister Isaac Hayes. The third fan Base a game changer,
[17:56] Speaker 1: visionary social media for ever. That's what he said you
[17:59] Speaker 1: won't change it forever, and he's doing just that. I'm
[18:01] Speaker 1: speaking to Isaac Hayes, Isaac Hayes the third. He's the
[18:04] Speaker 1: president CEO of Isaac Hayes Enterprises, which manages the name
[18:08] Speaker 1: Image Likeness, Brand Masters and publishing catalog of his soul
[18:12] Speaker 1: Icon father, the late Isaac Hayes. We're talking about fan base,
[18:16] Speaker 1: we're talking about social media, we're talking about technology, and
[18:20] Speaker 1: Isaac when you, you know, would try to wrap this around
[18:24] Speaker 1: my head an idea that you have about social media
[18:28] Speaker 1: because it seems so big. But how were you able
[18:33] Speaker 1: to be not intimidated by the process of developing the
[18:36] Speaker 1: idea that was unique? That works?
[18:41] Speaker 3: Oh, that was simple. And I had a conversation with
[18:44] Speaker 3: a VC about this that I When I had this
[18:46] Speaker 3: conversation with the VC, they asked me kind of something similar,
[18:50] Speaker 3: but they said, why would you want to build something
[18:52] Speaker 3: that is in competition with Facebook and Mark Zuckerberg Instagram.
[18:55] Speaker 3: He's a giant, He's this big giant, you know, mega
[18:59] Speaker 3: tech giant. Well, one reason is because I can build
[19:02] Speaker 3: anything that he can build, but he can't build. Black
[19:04] Speaker 3: people in black culture and I speak very specifically in
[19:09] Speaker 3: the space of technology because technology is a vast industry.
[19:11] Speaker 3: But when it comes to technology and social media, I
[19:13] Speaker 3: know my stuff. I'm gonna stand my lane. That's why
[19:15] Speaker 3: I know. And I know that black culture and young
[19:18] Speaker 3: people power social media. And so the ability in which
[19:21] Speaker 3: fan Base moves is at the speed of culture. Because
[19:23] Speaker 3: I'm black and I'm around black culture, these other platforms
[19:26] Speaker 3: have to move at the speed of mitaking copy or
[19:28] Speaker 3: mimic black culture. So that gives us an advantage every time.
[19:32] Speaker 3: So any ideas that we come out with, we're going
[19:34] Speaker 3: to come out with the ideas first. There's multiple things
[19:37] Speaker 3: that fan Base has done. Like I said, there was
[19:39] Speaker 3: no such thing as in a purchase subscriptions before fan Base.
[19:41] Speaker 3: Check it. Before twenty nineteen, it wasn't that now. If
[19:44] Speaker 3: you look, Twitter has it, Facebook has it, Instagram has it,
[19:47] Speaker 3: TikTok has it, Snapchat has it. All these platforms allow
[19:49] Speaker 3: you to subscribe from your mobile device. It didn't exist
[19:52] Speaker 3: until we created that, and so that's my point. There
[19:55] Speaker 3: was no such thing as a goal verification badge or
[19:57] Speaker 3: any social media platform. We had that in twenty nineteen.
[19:59] Speaker 3: If you go to Twitter right now, every business has
[20:01] Speaker 3: a goal verification badge. So they're mimicking what we do.
[20:05] Speaker 3: So the only separator between us and them is capital,
[20:10] Speaker 3: which is one of the reasons why, Like I said,
[20:12] Speaker 3: you know, we're raising capital a unique way through equity crowdfunding,
[20:16] Speaker 3: which gives us the ability to build our company but
[20:18] Speaker 3: not give up crazy amounts of equity and not what
[20:21] Speaker 3: we want to do as a business. So that's that's
[20:23] Speaker 3: why I'm confident, because I know what makes social media work.
[20:25] Speaker 3: It's technology, psychology, and black culture.
[20:27] Speaker 1: Now, when I was reading your bio, it says that
[20:30] Speaker 1: you use social media to elect our current mayor, Andre Dickens.
[20:35] Speaker 1: How did you know the floor is yours? You know,
[20:40] Speaker 1: because of the fact that I just try to tell
[20:42] Speaker 1: people that social media is beyond just vacation photos and
[20:45] Speaker 1: pictures of food on your plate. It is a tool that,
[20:49] Speaker 1: especially in the entrepreneurial space, we need to understand our
[20:52] Speaker 1: brand and be able to communicate with the people and
[20:54] Speaker 1: generate revenue on that. You are a visionary from a
[20:57] Speaker 1: social media standpoint. You start launching now an elect I'm
[21:03] Speaker 1: mayor right now. You've played a major role in getting
[21:06] Speaker 1: him elected. How did that process come to you to
[21:10] Speaker 1: say I can do this well?
[21:12] Speaker 3: Number One, I love Atlanta, and I understand that black
[21:14] Speaker 3: political power is the main reason that there's so much
[21:18] Speaker 3: black success. That Atlanta's not a mistake. It is an
[21:21] Speaker 3: intentional community of people that were built, that built the
[21:26] Speaker 3: community of political power, that offered opportunity for black people
[21:29] Speaker 3: to build business, and I want to make sure that's maintained.
[21:32] Speaker 3: What's also more important is that more and more people
[21:34] Speaker 3: are on their mobile devices every day, and those messages
[21:37] Speaker 3: spread through virality. They spread through social media platforms like Twitter,
[21:41] Speaker 3: like Facebook, and like Instagram. And so when you're able
[21:43] Speaker 3: to connect with users at mass and create movements via
[21:47] Speaker 3: social media, that can be very impactful, especially political campaigns.
[21:51] Speaker 3: So if there's a message that needs to be put
[21:53] Speaker 3: out there, it's not necessarily always going to be heard
[21:56] Speaker 3: by broadcast media, which is the number one for media,
[22:00] Speaker 3: which we've known for you know, probably one hundred years
[22:03] Speaker 3: or so. Right, it's radio and television, right, and then
[22:06] Speaker 3: we moved to the narrowcast, which is kind of like
[22:08] Speaker 3: these smaller sub networks, which is on which are the
[22:11] Speaker 3: apps like you know, Facebook and Instagram and stuff like that,
[22:15] Speaker 3: and so to be able to move messaging and content
[22:18] Speaker 3: around through those platforms to people right on their mobile devices.
[22:20] Speaker 3: It can create engagement and action very very quickly.
[22:24] Speaker 1: Wow, and and and the engagement you you were trying
[22:28] Speaker 1: to achieve was either registration or encouraging the vote. What
[22:33] Speaker 1: was what was the motivation with your social media campaign?
[22:37] Speaker 3: Well, it was definitely voting. I mean, you know, Atlanta
[22:40] Speaker 3: has about half a million or so residents in the
[22:43] Speaker 3: city of Atlanta proper. But when we when these elections
[22:46] Speaker 3: come up, we're only winning elections. I think even when
[22:48] Speaker 3: Keisha Lan's bottoms wan and I helped out with her campaign,
[22:51] Speaker 3: I think eight hundred and seventy three votes, So you
[22:53] Speaker 3: got understand how those margins are. So just to be
[22:57] Speaker 3: able to inform people the urgency of voting, social media
[23:01] Speaker 3: is extremely extremely important. And then depending on who it is.
[23:03] Speaker 3: I mean in that in that election with Andre, we
[23:06] Speaker 3: had Felicia Moore and so and and and again I
[23:10] Speaker 3: wasn't necessarily I was a fan of what Andre was doing,
[23:13] Speaker 3: but Felicia Morey just shown signs that she wasn't necessarily
[23:16] Speaker 3: going to be the best ally always for the black
[23:19] Speaker 3: community just by some of the things that she had
[23:21] Speaker 3: done in the process. Hey, so getting those messages out
[23:24] Speaker 3: of letting people know, like, look, this guy said something racist.
[23:27] Speaker 3: She apologized, and she took her apology down. I was like,
[23:29] Speaker 3: uh uh uh, that's a problem right there. So we
[23:32] Speaker 3: gotta we got to make sure that we know we
[23:33] Speaker 3: put Andre in office, and she was right there for
[23:36] Speaker 3: the job. And it's done, you know very well.
[23:38] Speaker 1: Oh yeah, he's been outstanding. As we close out. Man,
[23:41] Speaker 1: you conducted in an investor on which was star studied
[23:44] Speaker 1: with influences and celebrity. What was the purpose of that?
[23:48] Speaker 3: To raise money for fan base? So so I'm the
[23:51] Speaker 3: first black man's raised ten million dollars in RACI equity crowdfunding.
[23:54] Speaker 3: So basically that's the way, is that anybody that wants
[23:57] Speaker 3: to invest in fan base and actually own part of
[23:59] Speaker 3: the company me as a startup and own part investing.
[24:03] Speaker 3: So I did this on a platform called start Engine.
[24:05] Speaker 3: I've done it again. I've done it three times up
[24:07] Speaker 3: with ten million dollars raised in three rounds and I
[24:09] Speaker 3: just lost a seventeen million dollar regulation a crowdfund on
[24:12] Speaker 3: start Engine. We allow anybody that's listening and here's this
[24:15] Speaker 3: to actually have equity and fan base my investing. So
[24:17] Speaker 3: you can go to start engine dot com slash fan
[24:20] Speaker 3: Base and invest and own a part of the company.
[24:22] Speaker 3: It's so important because black founders don't get money. We
[24:26] Speaker 3: don't get funded from bcason banks, So I have to
[24:28] Speaker 3: turn to my community. And I understand that who's going
[24:31] Speaker 3: to benefit the most from a social media platform right
[24:33] Speaker 3: being owned by black people? Black people, because we make
[24:36] Speaker 3: the social media platform popular. So who better than to
[24:39] Speaker 3: give the opportunity to have equity in it then the
[24:40] Speaker 3: people that will make it successful. So that's the reason
[24:43] Speaker 3: why I launched this equity crowdfund. So again, anybody that's listening,
[24:47] Speaker 3: go to start engine dot com, slash fan Base, make
[24:49] Speaker 3: an account. The investment found was very successful. We almost
[24:51] Speaker 3: raised about seven hundred thousand dollars in ten days with
[24:55] Speaker 3: people like Bill I am Intended, Charlottage, the God ebro
[24:59] Speaker 3: Earn Your Leisure, Roland Martin, Milton Jones, of one hundred
[25:03] Speaker 3: Black Men of America, Bill Harper, all these people came
[25:07] Speaker 3: on and spoke so kindly Candy Burst about fan Base,
[25:10] Speaker 3: and I think that's extremely important because it shows the
[25:12] Speaker 3: beliefs and what we're doing. And there are no black
[25:15] Speaker 3: owned social media platforms. Google it, search it, research it.
[25:18] Speaker 3: I'm the only one that's really in this space doing this,
[25:20] Speaker 3: and so it's extremely important that we own infrastructures. Think
[25:24] Speaker 3: of how many things, right, think of how many things
[25:26] Speaker 3: that have existed that black people are invented, but we
[25:29] Speaker 3: don't own the infrastructure of Think about Djang and that
[25:31] Speaker 3: Grand Master Flash invented that, but he doesn't own techniques
[25:34] Speaker 3: or Serrauto. Think about the ice cream scoop and ice
[25:37] Speaker 3: cream itself was invented by a black man, but we
[25:39] Speaker 3: don't own briers, we don't own edies, we don't own
[25:41] Speaker 3: Ben and Jerry. Think about the alarm system was invented
[25:45] Speaker 3: by a black woman, right, But we're not brinks, we're
[25:46] Speaker 3: not adt. So my point is, if we're not owning infrastructures,
[25:51] Speaker 3: we're just going to be contributing to other people's wealth
[25:54] Speaker 3: in ways that don't ever benefit our community. So we
[25:57] Speaker 3: have to own the infrastructure first, and then we go
[25:59] Speaker 3: on the platform at our sauce and our sprinkle to it,
[26:02] Speaker 3: and then we create generational wealth. So again I tell everybody,
[26:04] Speaker 3: please invest in fan Base because this is a community movement.
[26:07] Speaker 3: There's over fifteen thousand investors that have equity. Like I said,
[26:10] Speaker 3: we raised about three million of this seventeen million dollars round.
[26:12] Speaker 3: Once we reach the end of this round, it's over with.
[26:15] Speaker 3: I always say twenty eight thousand or I'm sorry, twenty
[26:17] Speaker 3: five thousand people investing six hundred dollars gets us to
[26:20] Speaker 3: our goal. So I tell everybody be one of those
[26:22] Speaker 3: twenty five thousand people that investing in fan Base. So
[26:24] Speaker 3: when this company gets acquired and goes public, you're one
[26:26] Speaker 3: of those ones. Goes like. I was there and I
[26:28] Speaker 3: heard Isaac Cay speak about investing in fan Base, and
[26:31] Speaker 3: I didn't wait. I invested the minimum to invest three
[26:34] Speaker 3: hundred and ninety nine dollars. So I tell everybody, look,
[26:36] Speaker 3: we spend a lot of money on a lot of
[26:37] Speaker 3: different things, so three hundred ninety nine dollars can go
[26:40] Speaker 3: a long way invested in that.
[26:42] Speaker 1: I'm telling Isaac Casey third year, amazing brother. This will
[26:45] Speaker 1: not be the last time you speak to Rashaan McDonald.
[26:48] Speaker 1: It is a money making conversation. And thank you for
[26:51] Speaker 1: coming on my show. And I gotta connect with you man.
[26:54] Speaker 1: I'm gonna get your sell numbers so we can communicate
[26:56] Speaker 1: because I like your approach, I understand your value, and
[26:59] Speaker 1: I and branding expert and I like talking to people
[27:02] Speaker 1: who have a vision and my man, when I say this,
[27:05] Speaker 1: you are a visionary. Thank you for coming on Money
[27:07] Speaker 1: Making Conversation Masterclass.
[27:09] Speaker 3: Thank you appreciate.
[27:11] Speaker 1: This has been another addition of Money Making Conversation Masterclass
[27:13] Speaker 1: hosted by me Rashan McDonald. Thank you to our guests
[27:16] Speaker 1: on the show today and thank you our listening audience now.
[27:20] Speaker 1: If you want to listen to any episode I want
[27:21] Speaker 1: to be a guest on the show, visit Moneymakingconversation dot com.
[27:25] Speaker 1: Our social media handle is money Making Conversation. Join us
[27:29] Speaker 1: next week and remember to always lead with your gifts.
[27:32] Speaker 1: Keep winning. The American Dream is available to you, just
[27:35] Speaker 1: keep listening. This has been another edition of Money Making
[27:39] Speaker 1: Conversation Masterclass hosted by me Rashawn McDonald. Thank you to
[27:43] Speaker 1: our guests on the show today and thank you our
[27:46] Speaker 1: listening to audience. Now. If you want to listen to
[27:48] Speaker 1: any episode I want to be a guest on the show,
[27:50] Speaker 1: visit Moneymaking Conversations dot com. Our social media handle is
[27:55] Speaker 1: money Making Conversation. Join us next week and remember to
[27:58] Speaker 1: always leave with your gifts. Keep winning.

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