The Liquidity Event Podcast: Episode 36

 

Episode 36: The Witch Tax

In this week's episode, The Onion weighs in on the housing market and England’s first witch gets to write off her spells on her tax forms. We’ve got OnlyFans making a second attempt at going public via SPAC, good for them. In the IPO space, we finally have a little action: a teeny tiny company in California called Hempacco filed their S-1 last week with just over a million dollars in revenue last year. Our hosts are on the fence about The Routing Company, a Boston-based start-up producing management software to re-route public transportation for private users. This one is magical.

Read the Full Transcript:

Speaker 1:

This podcast is for informational purposes only and should not be considered tax or investment advice.

Speaker 1:

Welcome to The Liquidity Event, a show about all things personal finance, with a laser focus on equity compensation. Hosted by AJ and Shane of Brooklyn FI, each episode will take you through the week's news on FinTech, IPOs, SPACs, founder wins and fails, crypto, and whatever else these nerds think is interesting. Learn more and subscribe today brooklynfi.com.

Shane:

Welcome to the liquidity event. We are your hosts. Shane-

AJ:

And AJ. We got that right this time. It's an even episode, so you get to do the intro.

Shane:

Oh, okay. Well yeah, I also wasn't here last time, so defs got to do tro.

AJ:

Right. Right.

Shane:

This is episode... I shortened those words. They're too long. This is episode 36 of The Liquidity Event. We're recording on March 30th, 2022. How we doing, AJ?

AJ:

We're doing okay. Yeah. It's almost April, which means it's almost the tax deadline. Despite what most people think, tax season is not in April. Tax season is March. By April tax season is over.

Shane:

Preach girl. Go off. Go off, tax bimbo.

AJ:

Oh boy. Oh boy. No, it's going. I feel bad for the general public because of the complexities of our tax system and that the burden is completely upon them. We're frustrated as preparers. We're not getting documents. A lot of clients don't know which documents they need. We're trying to educate them as much as possible. It's a lot of new folks coming in the door who we don't know yet, who are trying to file their returns. It's a bit messy. But overall, I think we're having a good season. Not a ton of slaps in the face from the IRS like there were last year.

Shane:

Yeah. I mean, COVID really threw everything for a loop the past few years. It's been really difficult to deal with. I mean, for the first time in 100 years, 110 years, they changed the deadlines on us in the middle of tax season. But not the estimated tax deadlines.

AJ:

No.

Shane:

So yeah. Essentially we had to prepare your return by April 15th, even though it wasn't due until May 15th, and explaining that to clients is a lot of fun.

Shane:

I'm sure we're just frankly the bearer of bad news a lot of the time when it comes to taxes. It's part of the job.

AJ:

Yeah. I was thinking about that. We do investments, we do financial planning, and we do tax. But during tax season, we're the tax people and all we do is tell people that they either owe money or have a refund. Yeah, we're just delivering bad news. Anyway. We just got to complain. This is the time where we get to complain.

Shane:

You started it.

AJ:

But we love what we do. I know, I did start. I did start it. It's a lot of wrangling this time of year. But no, this is what we do. We love doing taxes. And we're pretty damn good at it, I have to say.

Shane:

What are you reading, AJ?

AJ:

What are you reading? I'm actually reading a book. It's called The Grace of Kings by Ken Liu. I talked about this last week, but it's high fantasy set in an ancient world. It's like a 700 page book and it's one of those fantasy books where it takes you like 300 pages to understand who the characters are. I'm enjoying it a lot. Highly recommended. The Grace of Kings by Ken Liu.

Shane:

Does it have hundreds of pages before you get out of the Shire? Lord of the Rings style?

AJ:

No, no, no. It's action packed. It jumps all over the place. So there's action in the first scene. The first scene is action packed. You're dropped into the world and then you got to figure out your... get to know your way around real quickly,

Shane:

Right on. I'm not reading a damn thing.

AJ:

I know. I know. Where are you in the world?

Shane:

I'm in Florida. I'm at mom's house. I'm at mom's, yeah.

AJ:

Nice.

Shane:

I had a travel credit expiring, so I was like, "Let me go see mom." So I'm in Cape Coral, Florida. Yeah. Outside Fort Myers. She always lives outside of cities, on the edge. So yeah, I'm down here. It's like 90 degrees.

AJ:

Amazing.

Shane:

Yeah. Doing a lot of fixing of printers and there's a lot of iPhones with giant text and very loud ringing noises. The TV should come on in the background any minute now.

Shane:

Where are you at? You're in your new home.

AJ:

I'm in my new home in Palm Springs.

Shane:

Has this been discussed on last week's p-cast?

AJ:

No, it has not, but here we are. I'm in my new home in Palm Springs. Slowly moving. Not leaving New York forever, but spending more time in California. That has always been my lifelong dream. My family's nearby, so it made sense. Here we are.

Shane:

Yeah. Good for you.

AJ:

In the winter I will be following the sun.

Shane:

You keep talking to me about retiring. You're in your retirement home in the peak of tax season.

AJ:

Yes. I have retired. I'm living in a retirement community in Palm Springs.

Shane:

You put your two weeks' notice in a few days ago? Yeah. Well, thank you for giving me two weeks to find a replacement.

AJ:

Yep. Yep. You should-

Shane:

Should not be a problem.

AJ:

If anyone's interested, Shane is looking for a partner.

Shane:

Right. A co-founder.

AJ:

Just kidding.

Shane:

Five years' experience.

AJ:

Five years' experience running hybrid tax accounting and investment management firm that we invented.

Shane:

What are you doing for fun in your hybrid home, or in your retirement community?

AJ:

Yeah. Working east coast hours suits me. I'm an early riser, so get up early and then by four o'clock, five o'clock west coast time I'm out at the pool, making friends with my new, retired, relaxed neighbors.

Shane:

You've met the head of the condo association already? That's right.

AJ:

Yep. Met the head. Shooting the-

Shane:

About 40 years earlier than you're supposed to?

AJ:

Clinking glasses with the big wigs? Yeah. I'm definitely an outlier here in this community.

Shane:

Okay.

AJ:

Anyways. Oh, we have a deep dive this week. We have an IPO. We have an S-1 filing. I am so excited. I was very excited and then I looked at the numbers. We have Hempacco who just filed their S-1. The firm designs and manufacturers hemp based products. It's an alternative to smoking. It's an alternative to nicotine in the U.S. It's a tiny little company. They have 12 employees based in San Diego. Last year their revenue was just shy of 1.2 million and they are raising $17 million in this IPO. This is beyond microcap. This is a grain of sand on the fingernail of your typical company that's going public, so I'm curious what their decision was to go public. Maybe they couldn't find investors. Maybe investors were... I don't know. I don't know what decisions went into deciding to take this company public as opposed to raising another round of funding.

Shane:

I mean, it costs a few million dollars per year to be a public company. They have 1.2 million in revenue, so I don't understand. I'm not even really taking this seriously. Despite having hair below my shoulders, I don't give a damn about hemp or marijuana companies or... Go for it, but I don't know what's going on here.

AJ:

Yeah. Yeah. I mean, they're showing 243% increase in revenue, except their revenue last year was 345,000. That's like your neighborhood bar.

Shane:

Yeah. Yeah. I mean, you could spin that up fairly easily.

AJ:

So I don't know. I mean, this is indicative of a... I don't know, maybe there's a lull in the IPO market and some advisor said, "Now's your chance. People are desperate to make investments." That's one hypothesis, that they we're trying to take advantage of a market where there's very little competition and there's so much money floating around. Maybe they thought this is since their moment to seize the day. So Hempacco. We'll see if they actually make it out the door. This S-1 was just filed last week.

Shane:

Best of luck to the hemp salesman.

AJ:

To the 12 folks at Hempacco.

Shane:

Yeah.

AJ:

I think it's cool. Anyway, very California. Very California vibes. What do we have in the world of general financial planning and culture? The Onion, our favorite news website, is weighing in on the housing crisis with an article called A New Zillow Feature Lets Users Track Happy Lives of People Who Outbid Them For Dream House. And just to reiterate, this is The Onion, which is a satirical website folks. My favorite quote is, "All you have to do is enter your zip code, have an offer turned down on a home that was perfect for you, and then watch as a couple who was willing to pay tens of thousands of dollars more moves into the place and builds a wonderful life there," said CEO Rich Barton.

Shane:

Yeah.

AJ:

I mean, when The Onion gets it they're so, so, so spot on. [crosstalk 00:09:36]

Shane:

How have they been so good for 20 plus years? Through the Bush administration? I think that's when they got founded, in the late '90s, early 2000s. They just have their finger on the pulse. I mean, the market is so hot and everyone's just outbidding everybody. You and I have experienced with this recently. They just know what's going on. I love it.

Shane:

Also on the article, Barton the CEO added that Zillow was also at work developing a feature that would allow homeowners to watch as people they outbid grow old and wither away in their shitty, dilapidated apartments. Oh, that's millennial humor, baby. Oh yes.

AJ:

It's so funny, because it's true. Anyway. Speaking of millennials and getting screwed over by everybody, there's an article that Why Your Student Loan Payments May Be Delayed Yet Again. The pause on student loan payments was set to expire on May 1st. There's an NPR article that was reporting that the government sent out letters to the student loans servicers saying, "Don't push your borrowers for payments on May 1st," which indicates that maybe there's going to be another pause potentially. Student loans were part of Biden's campaign promise, right? Shane, you have something here about he was promising $10,000 of relief for every borrower. But we haven't seen that yet.

Shane:

Yeah. I mean, by the way, we totally did not recognize that we've passed the two year anniversary of us moving out of our office and into a remote work. We were at six people back then and now we're at 30. And it's been two years of fully remote work and there's no chain answer of us going back, so very interesting. We're seeing other firms go back into the office. I've got friends and folks at the dog park telling me that they have to show up in the office.

AJ:

Yeah.

Shane:

Wow. Yikes. Anyway. Yeah. So Biden pledged to cancel these $10,000. It was part of his campaign promise. Yeah. I don't know.

AJ:

Anyway, segue.

Shane:

Yeah. I just wanted to acknowledge that it has been two years since COVID... We thought it was going to be... Right now two years ago we all thought we were going back into the office in a few weeks and this would all blow over like the flu. I think we said that in a newsletter. Clients were calling us and telling us that this was... they were worried about the stock market. We were going through that stock market dip where everything was shutting down and we had... Aren't we making t-shirts? Our market volatility t-shirts? The next ones are going to be-

AJ:

They're ready to be picked up.

Shane:

Oh nice. Yeah. For the retreat, right? We're doing a retreat in a few weeks in Portland. Yeah. We're going to meet some people in person for the first time, speaking of which, that we've hired over the past six months.

Shane:

Okay. Anyway, let me get back to this article. So NPR says that, yeah, Biden did pledge as part of his campaign to cancel student debt, $10,000 per borrower, which I would love to see. From what I understand, the student loan debt crisis has... There's a long tail. Not everyone has $150,000 of law school student debt. There's a ton of people that are just crushed by just even like 10, 15, $20,000 of student loan debt that can spiral into 30, 40, 50,000 if you don't make any payments because you graduated without the ability to pay them back. And you might go into an income based repayment plan, which is cool but extremely difficult to navigate because of all of this Byzantine... the six different income based repayment plans, the four different servicers, I don't even know if it's four anymore, that all routinely antagonize and obfuscate the ways to get help from student loans.

Shane:

Do you remember those articles we used to talk about how they used to try to get you off the phone within seven minutes whenever you called your student loan servicer? And the faster you got your people off the phone without explaining fully how debt repayment works or income based repayment plans or forgiveness, which is finally turning a corner thanks to Biden, the Biden administration I will say. I'm pretty sure they're the ones that enacted the Department of Education's public service student loan forgiveness updates that are actually seeing progress in terms of forgiveness. But yeah, he still has not forgiven the 10K per borrower that was promised on the campaign trail years ago, and we're hoping that we see that soon. But this article's more of a focus on, again, the servicers being shitty service providers, right?

AJ:

Yeah. There's this idea that service providers have to notify you six times before they put you on default or a missed payment. I hope they're not just mailing letters. I hope they're actually calling people, texting and emailing. It's like they check the box. Like, "Oh, I notified you six times. I sent a letter to the address that you tried to call in and change because you moved, but you hung up because you were waiting on hold for three hours." It's super messy and super broken. Part of the reason they want to pause again, this article speculates, is that it's just going to be a mess to start up those payments again, to find everybody. Because everybody moved over the past two years.

AJ:

The other thing about this forgiveness of small loan amounts, you've got $10,000, that's not maybe crushing to someone who's making a $100,000 a year. But if you miss those loan payments, that's a ding on your credit report. Then you have bad credit. Then when you go to get jobs, when you go to get your mortgage, you've got that bad credit history and it kind of sets you up for failure in life. So that's why these small student loans that... A high income earner is going like, "Well it's only 10K. Someone can pay that off." It actually just starts you off five steps behind everybody else when you graduate school with that loan debt without the ability to pay it back.

Shane:

I mean, it's just another example of how America has lost its social economic ladder flexibility and the elasticity around moving up and down the market. Northern Europeans have much more economic bootstrapping available to them thanks to all the programs that don't disadvantage poor people that, in this case, have to borrow money to go to school. It doesn't always work out. You might end up at a private institution, you might end up... You're in your early 20s and you move around three or four times. Maybe you even use your parents address and your parents move around a lot because they're housing insecure, et cetera. So these letters that they're sending out... Or they're sending an email address to some old spot. Before you know it, you're behind on your payments, they're racking up, filing up. You think that Biden and is going to forgive them, so you might not make payments because you only have 10,000.

Shane:

There's just so many easy ways for this stuff to go off the rails if you don't have the money to hire advisors, or if you're housing insecure, or if you're income insecure. It's just exhausting, is my take on this. Let's move on to something else that more upbeat.

AJ:

Speaking of exhausting-

Shane:

Yeah.

AJ:

... the Senate proposes-

Shane:

Yeah. Exactly. Great segue here.

AJ:

Speaking of being exhausting, I'm sick of daylight savings time and there's a proposal that it's going to go away. I don't really understand daylight savings time. I always miss it. Someone always tells me about it. My phone now adjust for it automat. I am all for this going away. It seems confusing and unnecessary. Especially if you work with international folks where you have offices in the UK or Asia, abroad. There's this time period where everyone's on different schedules and no one has any idea what time it is or what time people leave for the day or start, and it's just a clusterfuck.

Shane:

I don't understand daylight savings time and at this point I'm too afraid to ask, is my take on this. I'm just like, I don't know.

AJ:

Yeah. Doesn't make any sense.

Shane:

Not even all the U.S. states recognize it. I know Arizona doesn't even recognize daylight-

AJ:

Yeah. Arizona's like, "Not on my watch."

Shane:

Yeah. Oh well. Good riddance. I know that some people have to go to school in the dark in the morning if you're in the north, but that's what you... I mean, I guess that's the price of living in Minnesota.

AJ:

Speaking of the price of living in Minnesota, we've got this article from CBC-

Shane:

Okay.

AJ:

... about a company called... The company new name is called The Routing Company, which I think is one of the worst company names I've ever heard. But it's actually a cool idea. The CEO is James Cox, the former global head of product operations at Uber. It's a Boston startup that is developing management software for not just private drivers, but also public transportation. There's this idea of being able to disrupt the public transportation system by making it more accessible and more customizable to people who want to hail a ride. So imagine in New York City, people who need to go down or up Fifth Avenue, there's public transportation of course, but maybe on off hours you could all... If there's a bus that doesn't necessarily make a stop on your corner, you could hail it through this app and that bus would actually make a special stop for you on public transportation. You wouldn't have to take an Uber. You wouldn't have to drive. Maybe there's a positive environmental outcome here, or at least that's what this startup is saying that they're going to do. That there's going to be less pollution, fewer cars on the road, yada, yada, yada. I'm into this. That's my take. I'm into it.

Shane:

I'll do the glass half empty side of it. I mean, if there's one thing we know from people derivative of Uber is that they've provided a lot of benefit to cities over the past 15 years. I mean, I don't know if I trust Uber executives to take over public transportation, is my takeaway. I would love if our public transportation was more efficient. This is an attempt at a privatization or private partnership with public transportation. It looks like this is, quote unquote, "working" in some cities already and it's operating in Europe.

AJ:

Seattle also. Yeah.

Shane:

Yeah.

AJ:

[crosstalk 00:19:21].

Shane:

Or Houston. Yeah. Houston. All that public transportation in Houston. For anyone who's been to Houston... It's such a big place. I don't even know if there is public... I've never even seen a bus in Houston. I don't know.

AJ:

Yeah. I mean, the dark take is, yeah, this is what make public transportation accessible to yuppies who usually take Ubers. Cool. There's something more depressing than seeing like a city bus go by completely empty and then Uber's backed up in traffic because people just want convenience. And if you can pay for convenience, you'll opt into that option. But what if buses were more convenient? And what if you were seen as a champion of the environment for riding public transportation? Let's make taking public transportation not terrible for the people who can afford Ubers, I think is probably their business model here. Which is cool. I agree that I am trying to be glass half full, but I am also skeptical.

Shane:

Yeah. I mean, I would love it. I mean, anything that pushes climate action into the right direction is lovely. Using public transportation is one of the biggest items. Eating vegetarian is one of the biggest items. Getting off coal. All of these big items also.

AJ:

Also infrastructure of these giant cities and these public transportation systems. They need to invest in software, they need to invest in modernization, and they're probably not getting that revenue from tax dollars. So maybe this is a chance for a private company to come along, have some investors involved and maybe they can find a way to be profitable and also lease the software to cities that could really benefit from it. That's my glassy-eyed approach.

Shane:

Yeah. I mean, going back to this... I'll add some positive things onto this. I mean, people that need a positive trajectory in terms of socioeconomic status need public transportation access in order to do that. Because if you can't afford a car, you need public transportation. Public transportation has failed in so many cities in the U.S. for whatever reason. Whether it's choking the budget or just truly bad execution by the executive branches of those governments. At least here's another shot. Here's another attempt. So let's hope innovation bolsters that part of our economy.

AJ:

Indeed. Speaking of innovation, OnlyFans... Remember OnlyFans?

Shane:

You're killing the segues today.

AJ:

John was terrible with segues last week. I almost was like, "You're not-

Shane:

Oh yeah?

AJ:

I love having John on the podcast, but he needs some segue coaching. So John, if you're listening, you got to shape up your segues before you're invited back on.

Shane:

You always drop... For the record, audience, I am not the one dropping OnlyFans articles into the podcast.

AJ:

I think it's a-

Shane:

I think it's like our fourth OnlyFans commentary that you've dropped in here.

AJ:

As someone who came from a company that was a platform for creators and believes highly in the model, I think it's very interesting.

Shane:

Okay. There you go. Right. So what are they trying to do with their platform?

AJ:

Well, they were trying to go public last year via SPAC.

Shane:

Have you talked about how your old... I'm sorry. Sorry to interrupt. But have we talked about how your platform was acquired? Your former...

AJ:

No, we have not.

Shane:

We haven't talked about Bandcamp's acquisition by Epic Games?

AJ:

Not yet.

Shane:

We'll save it for after OnlyFans. Let's do our OnlyFans thing and then we'll... I'll give you some time to think on it.

AJ:

Cool. Cool, cool, cool. So they were trying to go public last year via SPAC. They were talking to Shaq's SPAC company. Didn't happen. A lot of investors got a little spooked because of the adult content on the platform. It's not all adult content. That's what it's known for. But now they're basically, according-

Shane:

And McDonald's has salads too.

AJ:

Yeah, exactly. According to a scoop on Axios, they are in talks again with various companies to be brought public via a Special Purpose Acquisition Company. How do you pivot from porn to cooking shows, is really, I think, my question for the leadership at OnlyFans. Which is how do you take this reputation of being not very wholesome, you have your user base who presumably were there originally for the adult content. How do you expand that user base and say, "Hey mom in Minnesota, OnlyFans is a great place to go watch Rachael Ray teach you how to make salad dressing. And also, your son can get what he needs out of OnlyFans as well." It's a great place for the whole family.

Shane:

Yeah. No, I hear you. I mean, this company is worth... I mean, the story here is that during the pandemic there was no production available on big sets or traditional production of content, whether that's pornography or cooking shows. So OnlyFans exploded. They grew like three or four percentage points, as in over 100%, maybe 1,000%. Now they're doing hundreds of millions of dollars. They take 20% of every content creator's revenue, and there's monthly subscriptions between $5 and $50 per content creator. They've got over 16,000 creators that earn over $50,000 a year. I would wager they're 90% plus pornographic. Whatever it is, they've exploded and they have a really... I don't want to say nefarious, but they have a owner that has a checkered history. He's been in the porn industry for over 20 years.

Shane:

This guy, Leo Radvinsky, which is topically... he's Ukrainian American and he is now worth about $2 billion and they're trying to cash him out. But the only way to do that, you need the liquidity event, so you need someone else to purchase it. And all purchasers in the SPAC market or the IPO do not want to purchase porn websites, no matter how profitable these bad boys are. If you are known as being associated with porn, as soon as your SPAC, as soon as Shaq's SPAC or whatever SPAC, takes this company public, all those investors will forever be known as the people that took OnlyFans public. And the owner of this company has been rumored to be involved in bestiality porn. Not doing it, but the word bestiality comes up when you look at his history. So that's an unfortunate thing, but it's the taint.

Shane:

So yeah, how do you pick up a new, excuse the pun, a new market or target market? How do you de-taint the company?

AJ:

I don't know.

Shane:

Yeah. Brand experts.

AJ:

Right. So this founder, early days of the internet, early days of porn, how did you access porn when there were not glossy platforms like OnlyFans or YouTube or Instagram? You would have these link dump sites and he was traced to owning a few of them. And these link dump sites had links to potentially illegal acts of pornography, such as bestiality and some child pornography. So the link is a little bit tenuous, but I don't think the moms are going to be down with this. You know me, I love a platform though.

Shane:

What's your startup that you... your platform, Only Founders?

AJ:

Only Founders. Yes. That's for founder content. onlyfounders.com.

Shane:

So wait, they mention in the article-

AJ:

Currently there's one member.

Shane:

Right. Right. There is a Cardi B's on here? I mean, she's borderline pornography anyway.

AJ:

Yes. She was-

Shane:

Who else is-

AJ:

There was a list of creators and she was one of the names that I recognized.

Shane:

I found this article. They used the Wayback Machine to go back to the-

AJ:

Yes.

Shane:

Which is a badass website. You can just go back to-

AJ:

I love the Wayback Machine.

Shane:

So cool to go back to the internet of your childhood and look at old websites. Yeah. And apparently... Yeah, I'm not going to get into it, but they looked at... I guess I will get into it. They looked at his old websites and they offer advertising access to all these porn sites with these hacked passwords, including access to the hottest bestiality site on the web. So there it is. ultrapasswords.com.

AJ:

Yep.

Shane:

Have fun with that. How do we segue out of that one?

AJ:

Speaking of fun-

Shane:

Speaking of...

AJ:

... Britain's first official witch files her tax returns and claims expenses on potions and spells. That's right. Member of the global coven. Love to see it. She's a 70-year-old woman in a town in the UK. I don't see the town name here. What a story. She was a nurse for many years, got into a car accident, had some trouble walking or trouble performing the duties of a nurse. So instead of sitting at home and wasting away and wallowing away, she decided that she needed a new career. She was used to healing people and helping people, so she thought, "I can heal people this slightly alternative way." And now she does tarot readings, she does spells and potions. And you know, she went to... In order to continue to be a functioning member of society, some bureaucrat told her she needed to go register with the Inland Revenue Service, so that's what she did. And she's the first person to list Village Witch on her tax return.

Shane:

Amazing.

AJ:

And she's able to actually claim expenses for potions. Your eye newt, your toiling trouble, all those things are now tax write-offs. Fellow sister in arms.

AJ:

I've been accused of being a witch many times throughout my life. Why is that?

Shane:

I don't know. I think...

AJ:

Why is it that any time a woman does anything interesting they're accused of being a witch? You're like the 15th person in my life to call me a witch.

Shane:

You like being called witch.

AJ:

I'm not a witch.

Shane:

Millennial women love being called witches.

AJ:

She turned me into a newt. I got better.

Shane:

There we go. Monty Python back on the cast.

AJ:

Anyways, we are almost out of time. Folks, you have been a incredible audience today. Sorry we're a little low energy. We're just exhausted. It's tax season.

Shane:

Wow. Speak for yourself bro. I'm jacked.

AJ:

You're not jacked. I was apologizing for you.

Shane:

What?

AJ:

This has been The Liquidity Event. You can find us at brooklynfi.com/episode36. And you can email us at liquidityevent@brooklynfi.com. Leave us a review, if you want to be weird about it, on iTunes. That helps us with something that we may need to do in the future. Thanks so much. We'll see you next week.

Shane:

Bye.

Speaker 1:

Thanks for listening to The Liquidity Event, hosted by AJ and Shane of Brooklyn FI. Head on over to brooklynfi.com, where you can subscribe to the podcast or YouTube channel, or if you want to learn about their full service financial planning, tax, and investment firm, specializing in tech professionals and creatives on the path to financial independence. We'll see you next time on The Liquidity Event.