Startup Pitches! LAUNCH Accelerator Demo Day | E1902

23:23So if they're using a CRM, they will still need to log into a CRM every time an affiliate actually submits a referral. So an affiliate submits a referral, they need to log into their CRM and then map that referral with the affiliate. But with Tote, it's actually extremely easy to just do that because we actually have an integration with payment providers like Stripe, Paller, and Chargebee, where we make it extremely easy to track the referrals. And how we actually plan to protect the product, the main thing that we plan to launch is our marketplace solution. That means that we will launch a place where partners and startups can come together and grow and partner up to grow together in a way.

24:03And the reason we can do that, because right now we have over 50k in affiliates in our database. So eventually, we just plan to reach out to all those affiliates and ask them if they like to partner with some other startups on our platform. And Blaine, how we prevent churn? So really, the churn for us is actually extremely low. And the main reason for that is once a startup actually launches a partner program, they already have partners signed up and the partners are already bringing revenue and also earning from themselves. So if the startup actually cancels the program, that's going to make the partners extremely upset because they're already, as I said, earning recurring revenue.

24:41So in a way for us to prevent churn is to just help partners earn as much as possible so that the startups would never actually cancel their subscription to the program. Thanks. Hope this answers your question. Next up, we have Ray from River. Hey, I'm Ray from River. We're an in-person event and social platform turning audiences into communities. We help orchestrate events at scale with crowdsource hosts. I'm going to show you how the All In pod is building community around their show. We spin up 100 save-the-date events all around the world, and the besties just have to tweet it out and mention it on the pod.

25:15Fans like James see that there's an event in his city, and he can either RSVP or he can apply to hosts to make sure the event happens. We vet hosts to make sure that they'll be great, and once they're approved, they take over limited edit access for the event. James just has to choose locations, set the time, and the capacity. He can send messages to attendees, but he cannot get access to their email or their personal phone number. When they're all at the event, they get an SMS from River reminding them to snap a pic and post it on social. It tags the besties and they get tons of fan-generated content.

25:45Then whoever's doing the admin can see which events and which people are coming up and need action. There's a ton of free energy in the system. Just a handful of retweets from Jcal and two mentions on the pod has resulted in 128 events with volunteer hosts and over 2 ,000 members. I've been working closely with Brian Johnson, Don't Die. He's our most recent community. Again, 243 events have happened in less than two months with 6 ,800 members. Monthly active users really started to pop off in January. And our early traction since launching November 27th, with just nine communities on the platform, we've had 600 events, 1 ,200 volunteer hosts, 19 ,000 users, and 146 ,000 app visitors.

26:25Currently, our beta pricing is that we charge$50 a month for self-service and$500 a month for more white glove community management while we automate more workflows. We're also exploring with paid memberships, affiliates, treasury, and sponsorships. Pricing launched November 27th, and we're at$17.50 in MRR. We're really excited about this market. The creator economy is worth$250 billion, and that's growing. In-person events globally is$1 trillion, and 15 % of consumers subscribe to some creator membership. The purchasing power of communities is massive, but it's still on tap. Taylor Swift could host album release parties on River.

27:00Formula One could do watch parties and side events. Selena Gomez, she has a rare beauty cosmetic line. She could do product drop parties and political campaigns could get together with meetups and fundraiser events on a river. Our path to 100 million, we need 5 ,600 communities with an expected monthly revenue of$1 ,500. We're starting with podcasters and thought leaders. We're also starting to work with businesses and tech communities. And then we'll expand to streamers and influencers, musicians and celebrities, sports teams, alumni networks, and political campaigns. but differentiate from existing event tools and the way we manage events at scale, how we handle crowdsource hosts, quality control, and permission layers.

27:36We're starting with events, but in the future, powerful communities will be organized on River. We're going to be building out event programming, community infrastructure, and social networking. My two technical co-founders and I worked together at Sauce Labs back in 2013, and we're backed by Jason, of course, and also Balaji Srinivasan from the network state. And that's River. We're an in-person event and social platform turning audiences into communities. Thanks. Starting a business used to be a pain. You needed a lawyer. There were fees. It was a mess. Now with Northwest Registered Agent, it only takes 10 clicks and 10 minutes.

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28:55Minnie, you're up next. Question for Ray. Yeah, I love that picture of Jason, by the way. I was wondering, you know, how many people do you have right now paying$500 a month? And if most people are paying something closer to$50 a month, I'm just interested in the cost to acquire paying customers. Yeah, I'd be curious about what part of the platform you feel gets the most usage other than the event orchestration. So one part I'm excited about or interested in is the data layer where hosts get a lot of data on how engaged their communities are, how many people are showing up. How do they use that part of the product?

29:30And can you expand a little bit more on that? What's fundamentally different from platforms like Meetup? So most of our customers, actually three of them are on the$500 a month plan. And like I said, we just launched pricing November 27th. So it's pretty early and we've been truly focused on getting some product out the door. CAC, I would say, has been Twitter DMs. When we do things with All In and My First Million, I got a text from Ramit Sethi the next day. It's just the big fish bringing in those medium-sized communities. And I think people are usually surprised that... We have one user group, Super Team, that part of Solana.

30:04Their audience size, you wouldn't think is that big, but they're super engaged, almost to the same level as Brian Johnson. So yeah, I would say most people are actually on the$500 plan. Nicole, your question about what part is most used on the platform and then that data layer. It's still really early for us. So right now, I'd say batch events and audience activation is the most used part. So we'll spin up these events that are kind of save the dates. You kind of funnel your audience through and everyone organizing themselves in each city. So that's the most powerful. Haven't really gotten to fully squeeze the juice out of the data in that audience layer.

30:40But I will say when we did My First Million, Sam and Sean, they got a thousand new emails that I don't think they had before. And then Ryan is on our team, Deep Skills and Data Science. We'll be able to get lots of data out of that. And then Andy's question about differentiation from Meetup. I actually had lunch with Scott Heiferman the other day. So Meetup is completely fragmented. There's no central leadership from the community organizer or a leader. So you end up getting people who want to hike on Saturday and then people who want to hike on Saturday with dogs. And because there's no centralization, things kind of fragment and fall apart really quickly.

31:16And then because we have this connection with the influencer, we're able to incentivize hosts, they get extra access, things like that. The thing to really understand is that these are net new events. These aren't actually being replaced from Luma or Meetup. we're able to make more events happen than ever were possible before. All right, I'll leave it there. Thank you so much. It's really important for us at This Week in Startups and at All In to know who the top 1 % of the audiences are. And so that's really what we're trying to capture. When you have a podcast or you have any community, understanding that 1 % of your most passionate users, it's just really difficult to do, but they kind of raise their hands and say, I want to host a 5 or 10 or 20 person meet up in San Carlos or Buenos Aires I mean, it's super powerful.

32:01And those thousand emails are worth$100 each to us, as opposed to the other 99 % or the bottom 50%, which are worth a penny or 10 cents, because they're not going to do anything if activated. So we really have been trying to find a solution for this. And TEDx in a box doesn't exist. And for$6 ,000 a year, I'd say it takes half the work of a 50, 60,$70 ,000 community manager. So in other words, one community manager can now do what maybe three would do, four would do with the software here so yeah we're really really excited about it and the thing that i'm most excited as an investor in this is the um who's the lunatic with the don't die brian johnson and then who's the other lunatic with wanting to not have governments and bology straining boston i always follow lunatics because lunatics are like the tip of the spear sometimes in adoption like bology and brian are lunatics and they have lunatic followings and the fact that both of those showed up after us you know i expected my first million they copy a lot of the stuff we do.

32:59And they're really students of the game. But for Balogy to do this and for Brian to do it, that to me made me really excited as an investor. So I think this activating communities is the future of a lot of businesses. And a lot of products that are getting built now are using Discord and other ways to do it online. You probably see that in your own portfolios, but Brian was using Discord before he had 10 events. Yeah. So doing it this way, we used Slack to do it before it didn't work. You need much more software and structure to control this and make sure it doesn't become a sales effort. So that's the thing we were most concerned about.

33:32We didn't want lawyers and accountants and headhunters to hijack our audience. And so we only allow, in our group, it's four founders, five founders. And the service providers all want the emails in Ray and I's experience. And she doesn't give them to them in the platform. You have to communicate through the platform. And then the people who are the hosts, who are the founders, they don't want the emails. They're not trying to build their CRM. So anyway, it's a lot of interesting little discoveries there of who's the right person to manage your local meetup TEDx in a box. Next up, Cash from TaxGPT.

34:01Hello, everyone. Cash here from TaxGPT. We are creating an AI co-pilot for tax professionals and accountants. Did you know that American spent 6.5 billion hours annually on tax filing and inefficiencies in the system cost$260 billion to the system? Tax professionals are finding TaxGPT and automating their research questions and email generation the tax gpt let me show you how if someone comes to mark with a complex text question he can ask that question to activity actually would not only answer the code instantly but i'll provide gold standard sources as compared to chat gpt or all the other free tools and suggest his questions um for example here's uh mark is generating a tax memo that he needs to send it to a client about a qsps explanation that could have taken him 30 minutes to write it he can write it within 30 seconds but we're not only tax generation we are building a firm management and client management platform that we can see where mark who's a tax profession can see all of his team members and all of his clients if a client asks a question tax dpd will have a context of all of their previous documents and all of their tax situation so we can generate an answer before mark can lift a finger and obviously as a tax professional he has all their control he can edit this response and send it to the client.

35:23In our product roadmap, we are launching the client management platform this quarter, but we also have a DIY tax filing product for individual tax filers that we launched last month. In the future, we plan to build complete automations on the tax preparation process and even white-label tax GPT. We are at 22 ,963 annual run rate in February. We're just starting to churn our sales motions. There are Fortune 100 companies that are using tax GBD internally on individual capacity, but we are trying to convert them into a paid pilot program and promotions. Majority of our market, 86 % of tax professionals work in under 30 people companies.

36:09So they're mom and pop shop. They're not building anything LLM related in-house. Right now, we are charging only$1 ,000 for annual license, but in the future it will go up to five thousand dollar annual license that 3.4 million tax professionals and accountants that give us a total addressable market of initial addressable market of 17 billion but the actual addressable market is 260 billion to increase to decrease the inefficiencies in the system for in order for us to reach 10 million we need to onboard 2 000 people and in order to reach 100 million we need to onboard 20 000 tax professionals by 2029 right now our cac is completely zero word of mouth such an optimization as social media but in the future we are planning right now we are partnering with cpa academy national road agents of america and we are in serious discussion with discussions with a drake software that sell their software to already 100 000 tax offices and going to the industry specific conferences um our competition is we don't see them as a competition we do see them as a partners because they are on the tax filing side of the business we are automating the tax provision side of the business and embedding ai into daily workflows to decrease the time spent on mundane tasks for tax professionals and accountants i previously worked for adobe so i have experience building enterprise great software i personally getting a tax provider license.

37:32Isabella previously worked for Reckl, went to Berkeley. She's an AI cybersecurity expert in the house. Andrew is our founding CPA. He previously worked with Lloyd, and we have amazing Jason as an investor. TaxGPT is building an AI co-pilot for tax professionals. Thank you so much. All right. Thanks, Cash. Hey, I'm curious about what's your data source to train a model for this TaxGPT? And the second question is, what's a long-term goal for your product. Currently, I think you focus more on tax prep. Would you ever consider to expand to let tax fighting in long term? So I've spent a bunch of time looking at GAI.

38:08My biggest question is always the same. How do you build a proprietary moat around something that has an open engine, right? Like you're going to run the same engine as others. And ultimately, you can claim that the data you have access to gives you a moat, but I have not been convinced of that. Secondly, every major player, every legacy player has to be looking at how to fold this in. I don't love the why won't so-and-so do this, but since every major company is under threat and is figuring out how to use GAI, I mean, it does not seem like an enormous stretch for Intuit or whoever owns TurboTax these days to invest in an open AI license and to put in the expertise to be able to do this.

38:43And all of a sudden you're obviated as a startup that doesn't have any value to somebody when they can use their existing legacy player. So how do you think about the, I know you want to partner with them, but do they even need to partner with you? They can just build it thank you so much so answer to the question of data source we scrap all the legal anything that impact the tax code like iris tax code all the state tax code any tax code judgments all of that we scrap that but also we have proprietary information like we have tax professionals asking questions close to 20 000 question at this point so we gather feedback on every question and we triangulate that information and uh keep keep building that flywheel of the data mode uh that's um you know proprietary on that uh long-term vision in terms of tax filing uh it's not out of the question i think uh ai has um given us so much creativity like previously like wk of the world that is 40 billion dollar company we are able to accomplish that in a very very small team and limited amount and everything so tax filing i think can be rebuilt from scratch the system and it can probably build much better but that is more like series a b type of uh probably a decision that we have to make then um yes uh so i partially answered the question like what is the proprietary data set that we have rather than the legal data sources um so we are you know collecting the feedback on every question and these are tax professionals like for example if you go to thompson writers and bloomberg what is propriety do they have They have their own 20-people team that is providing the tax opinion.

40:23They call it secondary sources that is explaining the law. We have much better, much larger tax professionals, a thousand tax professionals right now that are giving us feedback that we are building our proprietary data mode. And yes, like Intuit of the world and all the other people of the world, yes, they can build this, but they haven't built it so far. That's why we had Forex for Hire offered and we rejected it. And there is time for us to build it. Thank you so much. Happy to answer the questions later. All right. Thanks so much, Cash. Next up, we have George from Fanfare. Hi, I'm George, founder of Fanfare, the platform where creative work gets funded.

41:00On Fanfare, anyone with a great idea for a product or game can grow a community, raise funds, and sell their product. Here's one of our actual creators. This is Simon. He's an indie game designer who sells his games on Fanfare. And this is Emma. She's the typical buyer on Fanfare. She loves games and she spends over$200 a month on her hobby. So she's always looking for new releases and cool things to support. At Fanfare, we help Simon create with people like Emma. First off, we have community tools. Simon can give Emma free samples in return for an email signup. He can share updates when a new character is coming out, and he can even accept donations from people who just really love his work.

41:36We also have great e-commerce tools. Simon can start pre-order campaigns to raise a certain funding goal. He can sell memberships to his work, and he can offer exclusive fan perks. For example, a limited gold edition only available to his most early loyal fans who hold a prior membership. And we drive really high quality traffic to our creators' pages. Because we focus on specific niches like gaming, we know exactly out of all our users who's into chess, who's into RPG, who's into console gaming. So we're able to drive really high value traffic to our creators' pages. And those creators don't pay anything for being a fanfare.

42:08We want to make sure that we have the best and the most projects from the most awesome creators all over the world. So we didn't charge them anything to come onto the platform. Fans, on the other hand, can upgrade to become a superfan. For just$20 a month, a superfan gets big discounts on most projects, exclusive products and content, and a monthly digital loot box. When a superfan backs just one project a month, they already get their subscriptions worth out of discounts. $240 is the annual revenue per superfan subscription. So when we have 400 ,000 super fans, we'll hit$100 million in annual revenue.

42:40Compared to Patreon, Etsy, and Kickstarter, Fanfare is the only platform that offers advanced discovery, landing pages, pre-order campaigns, a storefront, memberships, and is totally free to use for creators. And this industry is really big. Right now, we're focused on the tabletop gaming industry. Today, it's a$25 billion industry, and that's on trend to double in the next six years. Next, we're going to expand into anime, manga and comics. And combined, these are$100 billion industries, and all of them are growing 10 % year on year. And speaking of growth, since we introduced our most advanced features this last January, we've had 300 % monthly user growth.

43:20And we only count a user if it's a verified account with at least one transaction. Myself and the team have over five years of experience in the creative economy. We have raised over$20 million for creators as their marketing consultants. And most importantly, creators really love working with us. That's why we know exactly what they want to get out of a platform like Fanfare, which is where creative work gets funded. Thank you. Thanks, George. Super interesting. I have to ask it, you know, obviously, the 800 pound gorilla in the room is Kickstarter and the like, is the biggest differentiator really the membership angle?

43:54It sounds like that might be the approach that you're taking. I feel like I tend to find myself trying to minimize the amount of memberships I have. Love to hear how you're approaching that. Yeah, I was going with the Kickstarter sort of question. How about the other side of things, which is the people who would choose to use this over Kickstarter? It sounds like you have a lot of features that Kickstarter or other platforms don't have, but I'm interested in actually the engagement and how you think about sort of the KPIs for or whether the users are getting more engagement from your platform than they would on a Kickstarter or something a little bit more generic.

44:33Yeah, I think that as the creator economy expands, there's going to be a lot of different types of tools to manage different sorts of memberships. You mentioned Patreon. There's also PASAs. How do you feel like the product sits across the layer of all these other competitors? All right. Thank you so much. Really great, informed questions. So let me start with maybe Blaine and Minnie's questions are a little bit similar. You know, there's Kickstarter, what's the differentiator and what's the difference in engagement? One of the really crucial differences is Kickstarter is only used by creators for 30 days out of their entire lifetime as a creator, right?

45:13Just during the campaign. On Fanfare, you can start with a landing page. If you just have an idea, you don't have anything to sell, people can just subscribe. and then you build it up through memberships. And then ultimately you can do a full, you know, pre-order campaign Kickstarter style. And then once you have your inventory, you can even continue selling. So you have like a little store. So the big differentiator is we don't want creators to really go anywhere unless they become so big that they need to go, you know, to Shopify plus. And so also in terms of engagement, what we've noticed is that people who engage with an idea at a very early stage tend to, you know, become super fans.

45:46That's why we have that term. And that engagement is much higher versus people who just come onto a page for the first time and have to make a quick purchasing decision within 30 days. And so, Nicole, to your point with Patreon and where this sits in the creator landscape, you're absolutely right. The creator economy is booming. So there's a lot of tools out there. A big difference for us is that we focus on creators who make products. They can be digital products like gaming assets. But whereas Patreon is maybe a little bit better for someone who has a podcast or a non-tangible thing that just goes on forever.

46:19Fanfare is really made for people who do projects that are like a project with a beginning or an end or with a specific outcome. So I think that's the big difference. Thanks, George. And for our seventh founder, we have Jam from Monika.ai. Hi, everyone. Jam from Monika.ai, and we're building an adaptive learning environment for exams. Meet Kate. She's an undergrad in health, and she's taking 15 major exams this semester. And she plans to attend medical school. Like many of your peers, she ends up using platforms like Chegg and Course Hero when it comes to finding exam practice. The problem is that these platforms are banned from almost every campus in the country, and they lack the personalization that she needs that leaves her uncertain in the end whether she's actually ready for the exams or not.

47:01This changed when she was introduced to Monica AI. Monica AI, she gets to create a study space for her organic chemistry class. In the study space, she not only has a way to organize all her materials by type and topic, but also gets the ability to turn her own class materials, study materials, into interactive practice within seconds. As Kate interacts with the platform, Monica AI will create a learning profile for her that automatically schedules and adapts questions as she goes through them. And it will make sure that she focuses on the things that she's struggling the most. This makes her studying a lot more efficient and engaging, and she loves it.

47:38And so do thousands of students who use Monarch AI. In fact, since we launched last year in February, over 85 ,000 people signed up on the platform, created 5.5 million questions from 150 ,000 documents uploaded. And we're currently running at 33k in ARR. Our business model is simple. We have a freemium model with limited generations and slower speeds and a pro model at$10 a month with unlimited generations and higher speeds. We're also introducing an enterprise model at 25k a year for businesses and give them more access control. So how do we get here in the first place? Our first thousand customers came from interactions in platforms like Reddit.

48:12Now the next phase of growth has been coming through social media platforms like TikTok, Instagram, and Twitter. The next phase, along with the social media, will be coming through our partnerships with college professors on campuses to bring their classrooms on to Monik and through our SEO. So why now? And why us? LLMs have really changed the way, have really made the document intelligence a commodity that actually lets us compete with the incumbents in the area, like the checks and the coursers of the world. And why us is we have a unique and proprietary data set in terms of a learning profile and learning habits of a user.

48:45And combined with gamification, it lets us scale into the next space. Back to Kate again. Once she's done with her college exams, she gets to take more exams in terms of MCAT and USMLE and certifications. And this is a lifelong learning for her and for millions of professionals like her. In fact, over 10 million exams are taken in the US every single year outside of the high school and college system. And that takes about four weeks on average of prep time. And people spend from$100 ,000 to$5 ,000 per exam prep. And that's why on our roadmap, we're bringing and integrating e-learning providers like Just Typical PT onto our platform and currently running a 60K grant and a pilot program with Cyber Florida.

49:21Our path to 100 million ARR starts with getting to 200 ,000 subscriptions in B2C level, facilitating 3 million transactions in the marketplace, and reaching 2 ,000 businesses. We are a team of two engineers and a product designer, and we're building an adaptive learning environment for exams. Thank you so much. Hey, I'm curious. It seems like you sell both for enterprises and also individual side and also it's a marketplace. How would you pivot your sales strategy here? in the long-term goal, what's your focus here for these three tiers of the businesses? You already mentioned that a lot of this documentation is becoming open source or freely available and commoditized.

50:01I think you need to make a pretty strong case for how you create a moat when you are dealing with somebody else's engine and a commoditized data set. I am not convinced that, well, we understand how these people learn and so that will create one is good enough. But if that's the one, that's the one. Is it a matter of time, Craig is asking, before the platform may get banned, like competitors that you mentioned? Thank you for the questions. So I'm going to start with the enterprise B2C and marketplace. And it does seem like we are kind of segmented around, but B2C was actually very strategic for our marketplace because for a lot of the creators to come into the platform, such as the e-learning providers, like typical PT, we needed the audience in the first place to convince them to come to the platform.

50:43So that was a very kind of a strategic move. When it comes to enterprise, we do want to postpone it a little bit. But the way that the enterprise model works is very similar to the way that we're going to sort of e-learning providers. They get to create spaces. They get to bring people to the spaces with the same access control levels. And then they just have the people who have access to the spaces. It's just not going to be public. So it's just a matter of access control in this case. And in this case, the only kind of proprietary data set that we are kind of banking on is the fact that when people learn, it can be for two different reasons.

51:13They're trying to do retention or they're trying to comprehend something. And there's a ton of retention algorithms out there that people use. Our algorithm is on the comprehension side. And as they engage with the platform and they get to tell us exactly what questions are, the ones that they want, what questions that they don't want, that is a data set I think very few companies will have out there. And also, we're moving away from the LMS to the open source ones ourselves as well as we build these data sets. So we can have a different conversion point from what the public has. Craig, will the platforms get banned?

51:42Absolutely not, I think, because we're actually working with the professors directly, because we want to be the ethical alternative to platforms like Course Zero and Check on campuses. That's why we're bringing them into the conversation so they can be our partners in distribution, both and users of the platform. In fact, about 20 % of our users right now on the platform are educators and instructors using them for their classrooms. Thanks for the questions. All right. Well done to the founders. Now for investors, here comes the hard part for you. If you could give us your top three of that seven.

52:12Yeah, I am in reverse order from the last three pitches, the last pitch being three with Monarch, two being Fanfare, and one being TaxGPT. I think that even though I have big challenges with how you build a moat in terms of my number one, TaxGPT, I do think it's going to be incredibly hard to create a defensible moat here. But I like the possibility that having some sort of semi-proprietary insights from the tax preparers that gives you sort of the ability to have a more nuanced view of what best practices is with different returns, et cetera, could in theory, give you an insight that others might not be able to get.

52:49And if you get there quick enough with enough of them, then maybe that's viable. I think it still ultimately ends up being acquired into an existing legacy player, which isn't my typical focus on how to live my life funding acquisitions. But I do think of the companies we saw here, the biggest opportunity is there, but it's going to be a big, big, big challenge to be the winner. Third, I had Monarch AI. In second, I had Malengo. And then first for me was River. Know the market very well. I think it's a massive pain point out there. no one in the space is really servicing the in-person to community angle and seems like some really exciting early traction.

53:28Yeah, agreed with Jason. Best cohort. This was great. Hard to decide. I went river number three, fanfare number two, Malengo number one. Malengo is a good fit for a lot of the things I've been thinking about with manufacturing, onshoring, near-shoring. We need a lot of automation to really be competitive. I looked at a company, Topologic. I don't know if you saw that, but really buy into the idea that the length of time to launch a product is too long and that there's a lot that technology can do. And also great traction. So just really strong presentation there. First of all, I want to say congrats to everyone who pitched today.

54:05I really appreciated all of your pitches. And it's really exciting to see what you've all been building. So just wanted to say that to start off. top three, I would say number three at podcast AI, number two, Malengo, and then number one would be River. And I think what drew me to River as the number one was this really interesting data layer around actionability in terms of communities and creators. And I think it's really exciting that people will be able to really figure out how to monetize and engage more effectively with communities hey thanks so much for the presentation today and my number three is money.ai number two is podcast ai and my number one is tax gpt because previously i worked to the relative industry i know it's the for the tax industry lots of tasks are repetitive and especially when you try to communicate with clients.

55:02It's all like back and forth. So I really understand the pinpoint. So I like the market overall, although I might find it might be a little bit tricky to sell in this industry because this accounting industry is kind of like manufacturing and industrial. You know, there are legacy solutions, but it's really hard to kind of push them to change. I'm just super proud of the effort you all put in this cohort. Thank you so much for coming. If you have great companies that you want to share with us that you think should come to Founding University, that's typically a company that's maybe incorporated, maybe not even incorporated.

55:38MVP, trying to figure it out. We accept about 10 % of folks in that program and invest in the top 10%, so net at 1%. And then if you have anybody who's got 10 to 510, 20K in revenue, trying to figure it out, wants to raise a 500K to$3 million round, that's the accelerator. Contact us as well. really appreciate everybody coming today and meeting these amazing companies. Congratulations to the companies. They're doing really, really well in the fundraising space. And I think it's really hard to raise money in this kind of market. So congratulations to everybody who started to get term sheets in and leads and a couple of people who are doing party rounds and doing pretty well.

56:14They're passing that. So whatever it takes to get that 500K to million five in when you're a C company like this, and then get back to delighting your customers. See you all next time. Bye-bye. You You