
This is software (AWS) generated transcription and it is not perfect.
Yeah, sure. Well, thanks for bringing me on the stock. And I can tell you give you a little bit of background of spin because that's the company that I'm running now. I started spinning about four years ago, and it was all based on a patent portfolio to Brooke off using a centrifuge. So what we're making you should check out spin dot com. That's where you see what we're doing. We're making a WiFi connected coffee machine. The coffee machine is using new I p a new technology to brew coffee because we used to tropical force and the machine is connected to Internet because there is a whole marketplace of local coffee roasters connected to the machine and the machine is automatically ordering coffee for you from this network of coffee roses. So it all started out with this patent portfolio. I ran into an inventor that owned this, uh, this portfolio. He was 76 years old. Hey, retired from a big coffee roasting company and he had spent in portfolio. I ran three other startups before doing spin on. Before this, I was at Microsoft and Dell eso I'm a corporate I t guy basically that ventured out into startups. And when I got this idea for spin, basically I made a pitch deck. That's what older startup founders do. You know, 10 slides that present your idea. And with these 10 slides with this pitch deck, I started talking to people and to hear what they thought about the idea to make. Like a connected coffee maker that is automatically replenishing off a network of roasters, I saw that there was a lot of movement in the coffee industry because, you know, all these small, local artisanal roasters started popping up everywhere. So I thought, How how can I bring these local smaller roasters into the kitchen of the people? And also, how can we make a better cup of coffee? Not just from a taste point of view, but also from a sustainability point of view, Because coffee nowadays is made largely by companies like Couric and Nespresso that use those pods and filters and wasteful materials on a lot of packaging that goes into one cup of coffee, right? So we wanted to make something that doesn't have that sustainable swag and all this waste on we use the fresh bean instead of pre ground beings that are not fresh. Basically, you know, I always tell people, Do you like fresh fish or do you like can't fish? And I think that spin makes fresh, fresh coffee made from riel roasted fresh roasted coffee beans and what you find with Keurig and Nespresso those pots systems is not fresh because there's pre ground coffee in there. And you can ask any barista or coffee roaster that will tell you that three hours after grinding the coffee, your your coffee becomes still and loses the aroma. So talking about a fresh, good tasting products spin can make it with a centrifuge. And the centrifuge also allows for different styles of coffee being made in the same machine. Because we can make espresso style. Coffee would also filter and drip style coffee. We now have a network of 500. Gross is connected to the marketplace that are all the delivery partners for fresh bags of beans, and we have the first batch of machines now being shipped out in the US on we expect, Ah, a lot more to ship during this year and next year
right. So, you know, this is a typical approach to start ups, you know, what problem are you solving on? And I would say that we solve the problem of making a good cup of coffee at home in a sustainable way so we don't use those pods and filters. And the coffee that that we make is much better tasting. So it's a taste point of view. You know, I always tell people speak to a lot of founders and, you know, you always have to tell them what is the problem that you're you're solving. And if you look at nest that connected thermostats. What problem? These guys serving, right? What is it? What are they solving? Because the nest thermostat is a very beautiful device, and you can control it with the app. It is a connected device. But, you know, we could control temperatures in homes. Maybe not remotely so I ot allows for this. This this, you know, empowered an elevated way. Uh, Thio handle certain machines. Let's put it that way through an app or through Alexa. And that's what we're also doing. So what kind of problem we're solving is basically, you know, elevated way to make coffee into experience coffee? I would say
lot of things change. Obviously, you know, you start out with just the idea and the pitch deck. I think if any of the students is interested in a non entrepreneurial track, you should think about your idea and put it on a paper slides. And with those 10 slides, you can kind of see whether there is a where there's people that there are people that that are interested in your proposition on what you're trying thio bring to the to the to the investors because in the end you need money to grow your company. So either that money comes from a product that your service that you're selling or it comes from outside investors. And, yeah, you have thio persuade and get investors interested in your pitch. Eso The first couple of weeks in the startup were really about not even heading up a company because that came later. But just having this is 10 slides that explains your vision and explains the way you think about this thing that you're that you're working on, and hopefully that will be investors that will pick up on it and say, Okay, I think this is a good idea here some money go and do it. So it was really about thinking about the idea and visual izing the idea and bringing it into a format that is that is comprehensive for people to kind of think about the problem or that solution that you have.