Maniac Entrepreneur With Jared Yellin

 Mario Dattilo
 Hey guys, welcome back to the show. Super excited because I've got an awesome guest, Jared Yellin on the show today. Jared Yellin is a really young entrepreneur who has built a portfolio of companies and has a really exciting goal and mission that he's working on right now and a platform that I think everybody's going to get a lot out of. So, Jared, I really appreciate you getting on our show today. You've got a company called project 10 K, and maybe you could just introduce yourself. 

 Mario Dattilo
 Tell us about what that is and let's dive into a man. 

 Jared Yellin
 Awesome. Well, first off, thank you for having me. I love what you're doing with the show. Like I mentioned prior, I'm an open book, so I want you to feel free to ask me anything. I want to create value for you. Most importantly, for your audience as well. I love what you're doing here. A little bit of project 10 K. Project 10 K is a tech ecosystem that is committed to building, scaling and selling 10,000 tech companies in the next 10 years. I know this sounds slightly crazy, but we're now officially more onto something than we are crazy. We've built the human infrastructure to achieve this outcome. Our systems, our processes, our team, our ecosystem, it's just unmatched. I've never seen anything quite like it. This is truly a calling and I feel blessed that it was me, that was called to catalyze this. In our first year we co-founded over 150 companies, which is more remarkable than 10,010 years, because that was the year to figure it out. 

 Jared Yellin
 And we have figured it out. One thing I want to make sure everyone hears. It probably sounds like this is a guy that's just playing the law of averages. Like if you have 10,000 companies, you'll get one or two or three winners and you'll be great. Those three winners will be great, but every other entrepreneur is going to suffer like they would if they tried on their own. It's the exact opposite of that, Mario, we do so much due diligence and so much validation testing. By the time that we say yes, we see a clear path to build it, to scale it and to sell it, not all unicorn status. We do see a path for that idea to have a home in the market. We'll dig in deep I'm sure, but yes, I know this minute for your audience. I'm probably more crazy than I'm on Fernando something, but by the end, we'll be like, let's do easy to do it. 

 Mario Dattilo
 There's that combination of crazy. The successful usually go pretty well together. One thing I wanted to mention is that you aren't just a seed company, right? I mean, you're not just a seed funding company and you kind of mentioned it. You're not just dripping money into a bunch of companies placing bets to see who does well and who doesn't expecting that the majority are going to fail, which is common in the tech world and really any seed investor, a group, but you're actually, you've created a platform to help the company and grow the company and scale the company to where it is a marketable company. Can you talk about that? 

 Jared Yellin
 Yeah, so we become the actual co-founder, so we're not investing. We are at the moment, we're actually setting up our first fund product, 10 K capital to a a hundred million dollar debt and equity fund, but we're not investing we're co-founding. What that means is that when an entrepreneur comes through our process, they come to us with a concept. That's it, nothing more than a concept. We look for the napkins of the world. What I mean by that is every company that exists today that you can't live without. It's become so embedded into your day-to-day personal and professional life. It started on napkin because everything starts as a concept. You can't bypass that step. That's just where everything is more. All that we want to see are the concepts. We don't want that we want the concept phase. When the entrepreneur from around the world pitches us, there's four major pillars that we're looking for. 

 Jared Yellin
 The first pillar is the right people. The second pillar is the right idea. The third pillar is the right market that they're going to enter it in. The fourth pillar is the right business model. There's a lot of nuance to this, but if all four are verified and validated, we co-found a company with that entrepreneur. We both take equity in the company. So our values are perfectly aligned. We build the entire company at cost. That's literally every day from the software development and the business development, sales customer support, legal bookkeeping, investor relations, press creative, like everything. About 97% of the initial costs brought a, we call the minimum viable company because we don't build products. We build companies is at cost india, in a company that I've owned since 2017. The risk is low and the cost is low. We launched this project a little less than two years ago and we committed from the get go. 

 Jared Yellin
 We said, we are naming the company, what we're causing in the world, which is 10,000 successful build scale cells for tech companies. And that we're doing it. So, yeah, so we'd really become co-founders. We are intimately involved. There's no end to our process until we actually sell the business with our fellow. Co-founder. 

 Mario Dattilo
 Jared. That's crazy. What, one thing I was gonna mention here is, you started out this business, at least your first business at a relatively young age. We're about the same age. He's 37, I'm 38. What, what got you into the industry as a whole? 

 Jared Yellin
 I realized early in life, I was completely and utterly unemployable, so I never even tried. I just went all in on entrepreneurship. I've had a pretty good run for the past 17 years. I've had some beautiful learning experiences as well. I am what you call a non-technical tech founder. What that means is like yourself, there's not an engineering bone in my body. I know how to write marketing copy. And I know how to sell. About 11 years ago, I launched a company called Synduit and the vision first into it was to build what I called the simplest marketing software in the world that was pre-populated with content across every major industry. We were going to turn it into a SAS platform, was a software as a service, a subscription model, and then sell it to small business owners. In my mind, Mario, this was like freaking genius. 

 Jared Yellin
 I just didn't know where to start. I had the money to start cause I had a previous exit, but I felt almost irresponsible throwing cash at such like an elusive concept. I figured, let me just buy some time, because with time I'll gain more clarity and I'll monetize my skillset. I started selling myself as a direct response marketing copywriter, and I got two pretty high profile thought leaders to hire me. It was an easy decision for them because it was all performance-based. I said, here's what we're going to do. I'm going to write your direct response marketing copy for free. You pay me 30% of any new business that I produced. This is your base on, this is where you're starting anything. I produce 30% of that. They said deal. I made them an additional million dollars a month for six consecutive months. So they were obviously very happy. 

 Jared Yellin
 I did well economically, but more than the money, they just told everybody about me. Within 14 months, those two clients turned it to almost 400 clients. I was running a very large digital and creative agency for thought years. And it was really fun. We had a big team, we'd a big office. We had really cool clients. Like our clients were like the movers and shakers, pretty much of every industry. They were all up to like impact at this stage of their careers. Like were behind some really cool initiatives, but for me it was really a means to an end. I just wanted to launch the tech platform. In 2012, I had clarity of what the platform would do. I went out and started interviewing different software development firms all throughout the U S I spoke to a dozen of them and I hired one in Boston that had a really good track record. 

 Jared Yellin
 They told me that it would take 10 months and $750,000 to build the first version of the platform. And I went all in. I completely funded it myself. I was probably like 27, 28 years old at the time writing a 50 to a hundred thousand dollars check every month to offset the invoice. At the end of 10 months, it was only called DJ, which was demo day. I told my girlfriend at the time his name was Lindsay. She's not my wife. I said, our life changes today. I am becoming a tech bound machete. I took the drive from north New Jersey where we used to live to Boston. Oh my God. Office, they greeted me and they said, we're so excited to have you. They brought me to this beautiful conference room and they said, Jared, we have some good news for you. Can I heard them say some? 

 Jared Yellin
 I'm like, oh, no, like what? It's like, listen, show me some good news. They started the demo and this huge flat screen TV. There's a beautiful office in downtown Boston. And the demo was absolutely amazing. Like it blew my mind. It was so on-point so thorough, so thoughtful. After two minutes and 11 seconds, they shut off the demo and I'm like, guys, why are you stopping? Like you just got started. It's amazing. Like keep going. And I said, well, that's the challenge. We miscalculated what it was going to take to finish the project near the year and a half in $1.5 million. That's up top of the 10 months and seven 50. I remember sitting there thinking to myself, well, I just became a statistic because this is such a common outcome for people like me, the non-tech tech founder that just doesn't know what they don't know. 

 Jared Yellin
 As I sat there in complete silence, I remember thinking to myself, I have the right to be ferociously angry or more really depressed. Like either extreme is completely normal right now. For whatever reason, Mario, I felt grateful. I don't even know where the feeling came from. As I started digging into this happened over the span of like six seconds. Like it was just fast. I realized that my gratitudes stem from the fact that this was a chapter in my story called Jared it's entrepreneurial journey. In every chapter, there's always a moral, there's a principle, something that you extract from it. For me, it was a commitment that I was making, which is I'm going to make the technology industry safe. I didn't know what I meant by it. I just knew that didn't feel safe. I know many other people that have had very similar outcomes attempting to get into the tech industry. 

 Jared Yellin
 The second thing happened though, as well as could have changed the trajectory of, of my path at that time, I met somebody. We had about 35 engineers on our team at that time that I hired through that firm in Boston, but one of them was a direct hire and his name is model. The formality he worked with me, he was living india. When he was india, he started his own software to the home. From Adam, his parents for really small apartment, like 300 square foot apartment for the whole family. He ended up going from that to a hundred employees in three years. Outside of being a very strong engineer, he's a great businessman and manager and mentor. He ended up selling that company in 2012. He wanted to move to the U S in 2013 with his wife to start a family here. And we moved to the us. 

 Jared Yellin
 He was living on the end of my street where my original office was in New Jersey. He could have been anywhere, but there, and we'd have a very different conversation right now on this wonderful podcast. He literally was a 10th of a mile from my office. We randomly met at a coffee shop. One day. I invited him to see the office that say like, minute, I'm like, Hey, come see what we're doing here. I hired him on the spot and he became my first in-house engineer. We work together for about 15 months, built a ton of trust and rapport. One day I came into the office. I said, here's what we're going to do. I'm going to fire the vendor because they can't pull this off. You're my CTO. We're going to completely scrap what they did two years and $2 million just scrap it. 

 Jared Yellin
 Cause I know it's not done the right way and let's do this right. Let's build our own team. And he said, that's my dream. And we did. We started hiring engineers in the U S and Canada ended up about a dozen india that Mani previously worked with. When you're in tech, if you could figure out India, you're in great shape, which was very hard to figure out India, unless you have money. He hires his friends and his family. So it was really a blessing. The only downside was they were contractors. When you're a contractor india, your income is not recognized by banks. As a result, you can't get personal loans for almost anything, houses, cars like nothing. So eventually you lose your talent. In 2017, I set up that company india that I referenced earlier, hire though dozen engineers. They were really excited. I figured let's use this as a recruiting tool. 

 Jared Yellin
 We ended up doubling the team in about 30 days. That was my catalyst for send you it. It led to Cindy with becoming what it is today, where we have tens of thousands of pay users across 30 different industries. It's a very stable business, strong team. About two years ago is when the magic happened. The magic was, I woke up one day and I realized I'm officially obsolete at Synduit. And that should be every entrepreneur's dream. Right. So I was like, we did it. This is amazing. But what's my next chapter. Like at the time I'm 35, 2 young kids, happily married. I'm like, what's next. As I was digging into what's next, all that I could think about was that commitment that I made earlier to ensuring the technology industry would become safe. I'm like, all right, that's, what's next? I'm committing now to my motion, I'm going to do something that shakes up this freaking world, or I'm going to go down trotting. 

 Jared Yellin
 I started digging deeper into that. I felt this calling, which was do what you just did with Synduit, but do it 10,000 more times by 2031. I don't know why that was the calling, but what I do know is you never negotiate against the calling. You just go with it. Right? I called it money and stole my CTO. This woman, Katie, who is my director of operations, my right hand woman at the company. And I said, I got this idea. I'm going to do it with, or without both of you, but I can't imagine you not being involved. Let's build scale and sell 10,000 tech companies over the next 10 years. And the rest is history. We just got after it that day. And haven't looked back since. 

 Mario Dattilo
 Jeez. What I want to do is I want to bridge the gap here. You hit on a ton of good nuggets that the listeners on this of the show can learn from. You might, some people might be saying, why is he bringing on a tech entrepreneur? When a lot of the people that are listening to this are either commercial real estate investors or in general on entrepreneurs. And there are so many nuggets there. You talked about really proving yourself. That's a consistent theme that we've heard across multiple entrepreneurs on this show. They stepped out, they didn't expect to get that high paying salary or the benefits or that cushy C-level, title next to their name. They said, Hey, look, let me prove myself. I'll step out. I'll take a risk. All I'll show you what I can do. Yeah. I want to get paid for it, but watch me. 

 Mario Dattilo
 And then that's, what's exploded there. Their career that's what's exploded opportunities for them. And that's exactly what you did. You said, let me show you what I can do. Give me a cut only based on what I can produce. When they saw you could actually produce, they told everybody about it. That's, and that sounds like a, a pivotal moment in your career and in your business, that launch you. Another thing that you mentioned several times as the team mates that you have and work with before this, before we hit record today, were just briefly talking about his company and kind of what he has going on. He said, I, I, I spend about one second a week on that, on this business, the first business he was talking about, and that is what all entrepreneurs should get to. They, they should be looking at how do I systemize this company? 

 Mario Dattilo
 How do I, how do I put the right people in the right seats? That not only will it scale on its own, but so that the owner of the company, the founder of the company can move out of the day-to-day operations and move into that visionary seat, which allows them to see their big picture and focus on new opportunities and not be in the daily grind of it. You've done that phenomenally, Jared, and then I think everybody can learn from that. You've got this huge target, 10,000 companies, 10 years. You're not the only one that believes in it. You've got people that are already on your team that you've in your previous company, that you've now moved over into the new company. We've also got some pretty high profile investors. One of them being grant Cardone. That is that's interesting because grant Cardone is a real estate guy, very well known entrepreneurial, but also primarily in commercial real estate. 

 Mario Dattilo
 So, I understand that you've attracted to some people out of their typical industry into yours. What do you think, what do you think attracted both Cardona and others to be involved in your project? 

 Jared Yellin
 I realized was I reverse engineer what we've accomplished because I built with the support of a now a large team, but a few hundred people on the team, but what I call the trillion dollar perimeter, and what that means is we have a trillion dollars of relationship capital that are circulating this project. They all want the project to win. Like they all want the product to win because of what we're causing in the world. We are democratizing and decentralizing technology. What that means is democratizing is we've created a new table at the table is a seat for everybody. This moment, Mary, we have more women than men founders, which wasn't even intentional. It just kind of happened. We have almost every ethnicity represented. Our youngest founder is 11. Our oldest founder is 77 because our thesis is, it's never too early. It's never too late to become a tech founder. 

 Jared Yellin
 We have high school dropouts, and we have Ivy league graduate. So it's really diversified. As long as you meet the criteria, you got a seat at the table. The second thing is decentralizing, which means we're bringing our tech infrastructure to cities and countries that have no tech infrastructure. You do something, that's that significant, what happens is you start getting people's attention and then you have to keep the attention. And there's three steps to keeping attention. I did not realize this until I have till I actually did it and started building relationship capital with people like grant and people bigger than grant that are even more relevant than grant in the space that we're in. So there's three things. The first is you declare your moonshot. With us, that's build scale, sell 10,000 tech companies in the next 10 years. The second thing we did is what I call take maniac action, which means the people that are observing think that you're crazy and also onto something at the same time. 

 Jared Yellin
 That means you're taking so much action so quickly. You're not just declaring the moonshot, you're backing it with even more action than what you're declaring. The third thing is you talk about what you're doing incessantly. Those are the three things that we did. As a result, it just led to an enormous amount of attention. That attention is, and I'll speak into the grant in a moment just to throw them up to your audience. It's from icons in Silicon valley, like historical it's like people that, like one of the people like literally started the venture capital industry, like his grandfather started it. He's now living out that legacy to family offices, private equity athletes, celebrities, politicians, and even our team, like we've attracted such crazy talent to be part of our team. It's it's like, it's just fascinating. Like the level of human infrastructure, we have this thing called ecosystem partners and ecosystem partners are thought leaders, but like legitimate thought leaders that have influence over entrepreneurs with tech ideas, incubators and accelerators that already exists that are working with entrepreneurs that are later stage than us. 

 Jared Yellin
 They send us every one that they're saying no to, because they don't have an offer for them. Universities and different entrepreneurial ecosystems, et cetera. We just have an enormous amount of attention. The way that the grant Cardone relationship was formed is heard about what I was doing through one of our fellow fenders that was talking about what he was doing with me. He told his president who was also Jared, this dude's crazy or he's onto something. They called me up one day and said, Hey, grant wants to meet you. And I drove out. I was living in Naples, Florida at the time. I drove out to Miami to meet with him. And I didn't know him personally. Obviously I knew of him. I didn't know him personally. When I went into this meeting, I had no plan. There was no tent. Like nothing, if anything, I thought, well, maybe he'll promote product 10 K and we'll get some more entrepreneurs to submit their ideas. 

 Jared Yellin
 Like that was the extent of where my mind was at. We met for about four hours at the first day. I really got to know him cause there's a, there's a persona that he represents, which is for some, they love it. And for some, they hate it. I knew there was more to it than just that. So I got to know him. I got to know him as a father and as a husband and as a leader in his organization. And we really hit it off. Like our values are extremely aligned. His desire to create an even playing field is compatible with what we're doing. After about an hour and a half or so, he said, Jared, I want to support this project. I'm sitting there and thinking to myself, well, what could grant Cardone do to support this project? Because in so many ways, he's the antithesis of what we're doing. 

 Jared Yellin
 Like he literally tells people do not invest in things you can't touch and we're building software. Like he's a real estate guy. So I'm like, well, okay, there's that? Which is that's not necessarily a positive. In addition to that, one thing I do know is that he's extremely polarizing. Like people either love them or they absolutely can't stand them. Universally, everybody knows he's a great investor because there's not many people that have invested their way to produce what you produce. Like it's not like he sold a company for a billion dollars. Like he literally built an investment portfolio. That's worth $5 billion at this point. Like just through like grit and grind. I'm thinking to myself, well, if even his haters, they know he's a great investor. Maybe I should invite them to invest because it'd be like a stamp of approval, but I wasn't raising capital. 

 Jared Yellin
 I had no documents. Like there was no investment plan. Like there was no use of funds. It was nothing. My grant wants you to invest and he goes, I'm in. He made a pretty significant investment into the project. The reason he did this is like the underlining lesson for everybody. Because many of you might say to yourself, wow. Like I can't imagine sitting down across the table from grant Cardone or whoever that is for you. Right? Because you have somebody that potentially could be a catalyst or an accelerator for them. The reason he ended acid is because I had leveraged them for him. The leverage sounds like this, Jared's doing this with, or without me. And I can't do it without him. That's what's going on in his mind. I know it is because we talked about it after that, he's like, yeah, dude, we're going to do it with, or without me and didn't want to miss out. 

 Jared Yellin
 There was no way, there was no amount of money I could pay to do what were doing, which is why I wanted to invest in what you were doing. I can go on the journey with you. It's a really important lesson for any of you. That's trying to do anything of significance. We are reaching up the people that may already have accomplished at least a piece of what you ultimately desire, real highs. Like if you're going to do it with or without them. They can't do it without you have a very good chance of having them want to join you in the first place. From there, he became one of our ecosystem partners as well, which means that he goes out and he promotes project 10 K and any entrepreneur that comes through his effort. If we do move over with the entrepreneur, he gets of equity as one of the co-founders as well, which is great. 

 Jared Yellin
 Cause one of those companies mature, then he'll obviously promote it and put them on stages and things like that as well. That's a story of grant, a ton of opportunities for all of you to create your own version of that with whoever's relevant for you're looking to do, 

 Mario Dattilo
 Man, I've been taking notes this whole time, Jared, and know there's a few huge points I want to make that people may have missed. You talked about the three keys and that's building, build a moonshot, right? That, that means set that big vision, that big picture goal out there, right. Then you said, take a maniac action. I've never heard that before. I've heard massive, but you said maniac action. We're not just talking, we're not just dreaming. We're actually putting crazy action behind it. And, and showing how much we believe in it by our actions. You said, talk about it, incessantly, man, how many people go out and have this big vision? Either don't take action on it or they start taking action on it, but they just don't really tell anybody they're worried about what other people are going to think. They're worried about, getting looked at like they're crazy. 

 Mario Dattilo
 You're saying, just go talk about it, tell everybody about it. Yeah, people are gonna think some people are gonna think you're crazy, but it's going to attract the people who are also attracted to that vision. They're at least going to hear about it, to give them the opportunity to participate. You also said, you need to have leverage. We've talked about this before, whether it's on my YouTube channel or on this podcast, that when you're out raising capital, which is kind of what you doing and, unexpectedly, you can't go in with a needy attitude and your attitude is, look, I'm doing this. This is happening with, or without you. That creates that posture that creates that confidence that other people are attracted to. It's always hardest to raise capital when you need it. It's very, I don't want to say easy, but it's a lot easier to raise capital and to bring on partners and attract the right people when you don't need them. 

 Mario Dattilo
 And that's what you're talking about here. It's, I'm going to do it. If you want to participate, you can, but I'm doing it either way and they can't do it without you. They're seeing this huge vision that they're attracted to. So love that. Also, you talked about, creating deal flow. It was kind of a side note, but you said, I've created some lead flow coming from either other VCs or seed capital investors there. They're passing to you deal flow that there, that they decided not to pursue. You're creating lead flow. That puts enough on your desk to where you're constantly looking at opportunities. What I see both in business and in real estate is people are creating just enough lead flow to say they're in business, but they don't have that massive lead flow where they can really pick and choose. You said in the beginning that you do a ton of due diligence before you actually sign on with them and partner with them. 

 Mario Dattilo
 Well, you're probably doing due diligence on a lot of deals, right? You're picking and choosing the ones that make the most sense. Because you've got so much lead flow, you've got great opportunities. Don't stretch, don't try and force marginal deals to work sort and filter through and find the right opportunities. And so really awesome. What do you think? One of the reasons I wanted you on this show, Jared, is you're a systems guy, right? Everything you've talked about, you've created company, you've scaled it, you've put the right people in the right systems in place. I think for anybody who's building a company or a real estate portfolio, that's the way they need to be thinking. They can't be thinking about being in the business and doing everything themselves. What are kind of the key foundational systems or pillars in the businesses that you're starting and you kind of ramp you ran through several different call it departments, but what are the key foundations of the companies that you're helping start? 

 Jared Yellin
 So, so I, I realized very early as an entrepreneur, never do business with any vendor person, et cetera, that does not have systems because it just complete uncontrolled chaos. Knowing that from just early entrepreneurship, where I've made a decision to work with somebody that didn't have systems, and it was like one step forward, three steps, whereas a half step forward, four steps backwards. And it was just chaos. I'm like, I won't be that person. I'm going to always have enough foresight to be at least one detail ahead at all times. That's really an important distinction because I believe that business plans are the biggest waste of time. I believe that people that spend months or years like developing out their big plan for something they haven't even executed on it, they're just afraid to execute in the first place. It's not about literally having the entire plan laid out and the entire system laid out, but it's always being at least one detail ahead at all times. 

 Jared Yellin
 That's just what we did because we committed to building, selling and selling 10,000 tech companies in 10 years. If we have to figure out every detail, we never would've gotten started because there's just too many details. Were just one detail at all times, we're also completely unromantic about what works and what doesn't work, and we can change our mind whenever we want. We've done that many times where we committed to a specific thesis and that thesis worked. All of a sudden it stopped working and we weren't romantic of a HEDIS. Create a new thesis and a new strategy and a new plan and process forward. But we're extraordinarily process-driven. At this stage we have a lot of people on the team, but even when we did it and were very process driven, what we do is we identify what we call the flame of every person on our team. 

 Jared Yellin
 The flame is what they're uniquely qualified to do, because what happens is even with small teams, you should do this as well. When you identify flame, which is like what someone's uniquely qualified to do it from a skill perspective, passion perspective, like lose track of time and space perspective. Like they get more done because it's just, it's just what they do. There's no friction when you can build an entire organization where everyone is in their flame at all times, what should you produce is a bonfire and bonfire out of control. Like it just always is giving off heat and energy. That's like the visual that I create with even with even our co-founders as well, we just identify flame and we keep people in that at all times. So that collectively it produces a bonfire. We're also always at least one detail ahead. And at most one detail ahead. 

 Jared Yellin
 We're really not planning too far into the future, or it's still always like right ahead of where we need to be. When we find things that work, we immediately systematize it. We use all different platforms and tools to achieve this. We're a very data-driven company. Everything is KPI based from an individual person's productivity and output to companies to hitting certain milestones till if what the KPI is blank at the end of the month. And you're not there, you're not sleeping. Like you have to pit back KPI, like, so don't wait to the end of them up. Like, because the other thing too, is we, as much as we care about building scaling and selling 10,000 tech companies in 10 years, which we do well, we care about even more is who each entrepreneur becomes in the process because in the end, if their spouse takes them, their kids don't know them. 

 Jared Yellin
 They have autoimmune disease because they made poor health decisions while they were on that journey to their exit. We fail them. As much as we talk business with them, which obviously we do, we talk about what we call it is have it all. They have to define that from the start. We hold people accountable to it as well. The example of the KPI, it's not that it don't sleep for four days and don't see your kids cause you just close to hitting it. Like you pace yourself. So you hit it. Like the only reason you miss a target is not because of the day that the target was supposed to be accomplished. It's every day leading up to it that you miss the target. Just find a way to make sure that you're always hitting your daily targets and then you'll hit your monthly targets. 

 Jared Yellin
 What's that mean to what your Al annual targets as well, but data systems, processes, and then everybody's in their flame at all times. 

 Mario Dattilo
 Jeez. Yeah. KPIs. A lot of times people wait until the end of the month to report on their KPIs and you should know your number daily and then be reporting it weekly. That'll get you to your number at the end of the month, the end of the quarter, end of the year. Love it. That's any company, any investment strategy, whatever. Now you talked about a flame uniquely, and that is something that each person is uniquely able to do. You're really focused on not only the business, but you're really focused on the individuals in your company, making sure that you've got those right people in the right seats. I love the bonfire analogy. You also mentioned that you are not in love with anything it's, it's, it's like you're not getting emotional about the things that you're doing. You're testing, you're figuring out what works and what doesn't. 

 Mario Dattilo
 If it doesn't, you just change what you're doing, you keep tweaking, tweaking. A lot of times what people do is they get religious about their, whatever they're doing and how they do it. They're they're so emotionally tied to how they do things or what they're doing, that they don't pivot when they absolutely need to. It takes them too far off track. So I love that. Also the business plans, a waste of time, it's kind of a ready fire aim. It sounds like. You're shooting, you're adjusting your, you, it sounds like you have some bit of a plan. You've got, what you're doing, but just the next step ahead, right? You're not spending weeks, months, years planning something out. That's probably going to change 50 times in the next, 60 days. You might as well get ahead, tweak it, test it, and then just keep modifying until you get what works and what doesn't figure it out. 

 Mario Dattilo
 That's huge. What's kind of the structure of the deals. And, and let me pause real quick. Before I finish this question, this is something that commercial real estate investors who are building, or who are sponsoring deals, who are building portfolios or other entrepreneurs and other industries can utilize. You've got, you've got a joint venture or a co-sponsoring for, this is lingo that the listeners will understand. He's co-sponsoring or joint venturing with these partners. These people have the great ideas of the great opportunities and whether if you're in commercial real estate and you've got someone who's bringing you a deal, you could then co-sponsor and partner with that person come in at a ton of value to what they're doing, potentially raise capital for them, or whatever needs to happen, and therefore take equity in that deal. That's kinda what it sounds like you're doing. Can you maybe just talk high level on how you structure these deals with the entrepreneurs that are bringing you the ideas? 

 Jared Yellin
 Yeah. We created this thing called a fair agreement. This is going to be like universally adopted across every industry. I'm positive. As, as we push it out into the world, more just going to become the standard of partnership, because most partnerships will inevitably fail because who you are on day zero in the partnership is not necessarily who you are on your 10 and your values may have changed. Your desires may have changed. I have a friend right now that has a very successful business with a partner. They co-founded it together. I think they're on their 15th year. They've done exceptionally well. And they're at such extreme odds. It's going to put the whole business out, like at this point, because they didn't have a fair agreement from the beginning. So, although in theory, it was fair, right? It wasn't really fair because it didn't grow with them and evolve with them. 

 Jared Yellin
 The fair agreement starts fair in the sense the entrepreneur is bringing in idea and that's all that they're bringing it. Just the concept. There's no company, there's no name, there's no IP. It's like, I have a problem. And this is the solution. I think that we need to build, to solve this problem. Like it's really early stage. We start 50, and that's 50% equity from them. And 50% equity to product 10 K. From there, the fair agreement is this objective sliding scale based on roles and responsibilities and what each is actually doing. If a partner, if a founder is dominating it, and they're doing more than 50% of their effort, it's going to slide in the direction of them having more equity. If they're doing less, because maybe they get less interested over time, it'll slide in the direction for us, not necessarily. We have more equity to issue out, to have somebody else replace what they're no longer doing, which is what we expect them to do from the star. 

 Jared Yellin
 But everything starts with the 50. That's the deal. It's a templatized deal. It's non-negotiable this is one reason why we only take on concepts. There was a point in this journey. This is one of those things. We've changed our mind on where we said, okay, yeah, somebody has, what's called a minimum viable product, which means they've already invested some money into it. It does something. Maybe it's generating some cash flow, but they really need, they still need what we do. They really need the software development side, the product management side, the go to market side, the sales. I think they need that to really accelerate. There's a point in time where we're like, yeah, we will, we'll take you in. The challenge with that is they've already made 47 decisions. At that point. We don't know what they were and why they were those decisions. 

 Jared Yellin
 We have to make decision zero until exit. Like we just have to, so we just changed our mind and those companies that were more mature. We're like here, no harm, no foul. We're not the right partner for you. Here's your equity. Take it back. You could still benefit from some of the other things that we do from a training perspective. And we want you to win. You're wonderful, but we're just not the right partner for you. So, but every agreement's the same. It's a non-negotiable in addition to that, and you kind of alluded before to how I said, like, talk about what you're doing, incessantly. We do not sign NDAs. We'll never sign an NDA. Ideas, have no value. Like, and again, they have all the value in the world because everything starts as an idea. People that are like really like keeping it close to the chest to like, I can't tell a, an idea. 

 Jared Yellin
 It's like, listen, first off, there's nothing unique in the world other than the Bible. There's nothing like, that's the only thing in the world. That's actually unique. Everything else is an iteration off of other things. If that's the mentality of the person, they're not fit for partnership because they don't default to trust first, they default to prove yourself. I'll trust you that doesn't work in our partnerships. So we're like, yeah, cool. You keep the idea of close to the chest, but you're just one does not come partner with you. The odds of that person executing on that idea, or as close as you're a percent as you can imagine, and they're going to die with it. They don't say that out of like me being arrogant. Like I told you. So, like I say, it, this, the vast majority of potential resides in the graveyard because people don't know where to go with it. 

 Jared Yellin
 They have the idea, it's scribbled on a piece of paper it's sitting in their wallet. They don't know who to trust. They don't know what their next step is and all the resources they think to get started. They just like, think about this. How many Googles are in the graveyard? Right? Like how many Facebooks, how many clubs? Like, it's fascinating. Like, there's this really interesting concept that in every sports stadium, the greatest player is actually not on the field. They're watching from the stands, all the people on the field that have the courage to step to the field. They're better, but they just didn't have the courage to execute. They're now watching other people and they're wearing somebody else's name on their Jersey. Like somebody else, when they could have been the LeBron or the Stefan or the Michael, like they had that still, they just didn't have the courage to step on the field. 

 Jared Yellin
 The same holds true in entrepreneurship. That's why we exist because we've created a safe space. We printed the home of the idea, which is where everything starts. Now you asked for about systems, part of systems are standards. And they're just non-negotiable. This is just the way that they are. And it's not like we're stroller it. We just have an outcome where glossing, which is build scale, sell 10,000 tech companies in 10 years. That's not because of us. It's because that's, what's required in entrepreneurship. Think about every industry has been disrupted, like every industry, right? Like transportation has been disrupted hospitality, like food, like everything has been disrupted, but entrepreneurship has it. Entrepreneurship still only has a success rate of 1%. Like, that's crazy. Like how, after hundreds of years of entrepreneurship, has there not been a way to increase the success rate from 1% to something exponentially more? 

 Jared Yellin
 We've done that in hospitality is exponentially better because of Airbnb like can like travel exponentially better because of Uber, like food exponentially better. Cause all these delivery services like so many industries wildly disruptive, but entrepreneurship is still able to just be okay. So that's what we're really doing. Like what it sounds like, oh, well they're launching all these tech companies. No, we're putting a new standard in entrepreneurship, which is called together because together we achieve more. The reason this plays out so well is because in an ecosystem, which is what project 10 K is. We share everything we share and users, we share investors, we share emotional support. We share data. We share what works. We share what doesn't work. Like we share everything. Whereas the entrepreneur who's on an island by themselves, trying to figure out everything by themselves is by themselves. The chance of them figuring it out is so slim. 

 Jared Yellin
 That's why there's a 1% success rate. We're going to prove the exact opposite, which is everybody wins inside ecosystem so they can leverage one another on the journey, 

 Mario Dattilo
 Man, you had just said, No, no, definitely not crazy. Well, crazy, but crazy enough to go execute. Right? I think that's what everybody needs to pay attention to is ideas are a dime, a dozen everybody's got ideas. How many times have you been driving down the road? Some cool invention, some cool idea pops into your mind and you go, man, I could make billions off of that. But what do you do with it? Nothing. You might even write it down. You might even tell a few people, but most people don't put the effort that, what did you call it? Let's see here. You called it maniac action behind it. They just don't, they don't. I think it's great that you're taught that you've got such an open book to not only, your, the people in your company, but potential entrepreneurs that are coming to you. 

 Mario Dattilo
 It also stands out to me that you shifted from working with people who have already invested money, have already put some things in place, have already started building their business. You said, forget all that. I don't want to work with people that have already made decisions. I want to work with people at the idea level. That's that shows a lot of confidence in your systems, in the platform that you're offering. Because you're just saying, all I need is the right idea. I've got everything else and you're bringing those people into your platform and then helping them scale. That's huge. That's so backwards. That's cool because a lot of times you hear from investors that they want the person to have a lot of skin in the game you've won. They want somebody to already have proof of concept. They want all those things. You're saying, no, I just need the right ideas with the right people. 

 Mario Dattilo
 Let me ask you this for your partnerships. I mean, just a simple ratio or percentage, how many of those have went bad? The reason I ask is because in the seed funding and in the investor world, especially when you're coming in as an LP, which you're not, you're coming in as kind of a co-sponsor general partner, a lot of times partnerships can go bad. And you hear a lot about that. How many of the partnerships that you've went into have kind of went where you're like, okay, this person is not going to run with it. They're not the right person. Or we just need to scrap this. Just curious. 

 Jared Yellin
 We haven't had any companies that had that outcome. We've had, I think, five peaceful divorces and they ended up being peaceful, which is great because it was really early that we identified what we call wrong. I went on person and that's actually the term we use for one person because we're looking for the right person. We then identified the eight non-negotiable characteristics of the right person based on the fact that we had five of the wrong people. And, and they all were wrong for different reasons. Like some of them were wrong because they were only all in if it worked. That's just not what this looks like. Right. We're going to have to be all in regardless and then make it work. Others had really ridiculous reasons for stating that they weren't in like political things, like my, really. The same ideology. You don't want to do this anymore. 

 Jared Yellin
 That's a little extreme. There was some of that, which I'm really happy that we figured that out early cause that there is no way that's going to work. Yeah, it was always peaceful and always a great learning experience. I'm not saying that the coverup, it wasn't like it really wants if we really had peaceful divorces. Part of it is a function of the fair agreement. Like the agreement is fair from the start. So it allows for that. It, and this is why I'm saying this fair remit is going to become a universal standard across full partnership. I am positive. Like we had some lawyers that were like, can't do it. Can't do it. Can't do it. I'm like, all right, here's what I need to do. I need to find someone who's an entrepreneur that happens to be a lawyer so that they can help me assemble this and then legal Heights it and keep it really simple so that everyday person can understand it. 

 Jared Yellin
 I really believe this is going to become the standard of partnerships and what it does is it really prevents those nasty, like, for example, my friend, if he had a fair agreement, 12 years ago, they would not be at risk of losing the company at this point. I'm positive. They just have like, they're there. They're just at different places of their life. Like one person has no kids. The other one has kids. Like he has a different vision of what he wants to do with the company. Now he's at that stage of his life. Cause other person's like, no way we're coming this direction. But on days, year completely aligned. Like they were the same Pearson. Like they just graduated college, they're hungry, they're eager. They're living with their parents. They have no responsibility. Like, like whatever it takes, let's go 12 years later, it just they're different people. 

 Jared Yellin
 That's just, that's what that's life that's evolution. Beautiful. It's harmony, unless you don't have a fair agreement from the start. So yeah. They've all been peaceful, but what it really did was help us immensely in identifying the characteristics. They're non-negotiable. Now we actually, in the due diligence process, we assess them. Like we assess their all in this. We assess their relevancy around relationship capital. We assess their expertise on the problem they're solving. Like there's just things that we learned in each of these peaceful divorces that allowed us to get clearer on what's needed. That there's a hundred percent success rate. I don't necessarily, I don't mean a hundred percent like unicorn exit rate. That's not that success rate to me is a healthy partnership that figures out how to take the problem that we committed to solving it eloquently, and then building enough values that somebody else wants to buy it in the future. 

 Mario Dattilo
 I almost feel like your secret sauce here is it? Yeah. You've got a platform. You've got the ability to scale companies systematically, but I almost feel that your secret sauce is your ability to partner with people and create partnerships with, on good opportunities. I've done some deals where I've partnered with people and 99% of them have went really well. One of them did not go well. I, I use the term marriage whenever I explain a partnership. The fact that you talk about it, the divorce, the exit, if you have to split up it's exactly right. It's, it's really, you're marrying the person. So you're putting a lot of effort. 

 Jared Yellin
 This is a really good exam, everybody. We created this document, it's called the project 10 K code. Some companies would call this core values. It's just deeper than Corvette. Like the code is embedded into the fiber of every human in our company, in our ecosystem. Everybody, whether you're an employee and an investor in an individual entity and investor in the holding company, a co-founder, if you are even thinking about product, I'm getting, you're signing the code and the code is one word, it's an acronym. There's a ton of meaning attached to it. And the word is together. Each letter has as distinct meaning attached to it. What this is a mechanism for communication because by far, the most challenging thing we're doing is not building scaling and selling 10,000 tech companies in 10 years by far, it's the number of that are involved in buildings, dealing in a long time. 

 Jared Yellin
 It's not going to hear because everybody has different values and beliefs, interests. It's like, it's big. Like I'm going to share a funny story of mine, but the code is what makes it work because we communicate through code. For example, if like the T is take 100% responsibility, if a co-founder feels that one of the team members is not doing that, all they have to say is Bob, take 100% responsibility. Bob will stop pointing fingers immediately because he signed the code. He knows, and vice versa. If the co-founder said they were going to do something, he didn't do something. Bob says, Hey, co-founder John take 1% responsibility. And they have to stop pointing fingers. Cause they've already signed. You can't argue against the code. The code in personal and professional life always makes things more often. That's what transpires in addition we've had to, and this is something that we're still working on conditioning, everybody to realize this is not a client vendor relationship because they're, I've never seen a client vendor relationship that really works because there's not complete alignment of values. 

 Jared Yellin
 So I don't see it working. It definitely doesn't work in the context of what we're doing. So we're like, Hey, it's co-founder relationship. Which means have the hard conversations. Like, like if someone on our team needs to have a hard conversation with one of our co-founders, that's what happens in business. But client vendor, that isn't what happens. Like they put it under the carpet. They don't want to talk about it. They're afraid they're going to get the person angry. They're going to get fired. Like that's not the dynamics here. Here's a funny story. Years ago I was sitting down, there's a store called Stephen berries. Steven berries was this retail store that was on pretty much every major college campus. It's so the college Garp, like the shirts and the hats. I was with Barry in his kitchen in long island where he lived and they had 365 stores when he sold. 

 Jared Yellin
 It was like a lot of source. He said to me, if you had one store, like one retail store, what would happen is once a year, there's going to be like an oh Pratt, like something happens. It's like, oh my God, nine 11. I got to solve it. Like, but you have one store. Once a year, it's an, something's going to go wrong. When you have 365 stores, each of the stores is going to have an old crap moment, which means that you're having an Oakland moment every single day. I remember him saying it to me and I'm like, oh, that's so interesting. Like he has to literally deal with crap every day. Then I look at myself now, right? Like 150 plus co-founders. If you had one partner guaranteed, at least once a year that partners have a life event outside of business, that they're going to call their partner without conversation. 

 Jared Yellin
 It could be about their kids, their significant other, their health. Now I created the barrier because almost every day I have founders that reach out with like something, nothing to do with what we're actually doing. Like, they're like, you're not going to believe it. My kid like took our car and they drove it like out onto my neighbor's front lawn. It's like, all right, we got to create a new mechanism here, which is like, I can't have those conversations with 150 founders and eventually 10,000. We a mechanism to solve for that. Yeah, just the funniest side on the doing, 

 Mario Dattilo
 You've built a culture. What I, your, everything that you talk about as an acronym has a, a storyline behind it, a theory behind it, there's you. I can tell that you've really created a culture within this ecosystem. You have to at 150 companies let alone 10,000 companies, you have to create this cohesiveness. And I see it a hundred percent. You've got tons of communication. Sounds like open communication with people. Listen, if I was going to, and Jared and I have recently met, were introduced by our buddy, Josh. It just, from what I've recognized and noticed from you, Jared is you're a visionary man and you got that huge vision and you're excellent at communicating it. I respect that a lot as a CEO type position in my organization. I, I love it. It stands out like crazy. For those who are in a visionary type CEO role within their company books, any direction that you could point people that could help them build that culture, build that ability to, cast vision to their organization that you could recommend. 

 Jared Yellin
 So here's, what's really interesting. I'm one of the most insulated humans that you'll ever meet in the sense of what I take in from a audio or reading perspective. Like I almost don't read anything at this point I did when I was younger, I nonstop think, but I don't ever get stuck in my head. That's like a very interesting distinction because anyone who has a child really will get this. If your child was in danger, you wouldn't think about how to help your child. You would just get into your gut. You wouldn't think about anything and you would just help try to help. Right? Many people don't apply that same premise to business or life. Like they try to like think their way out of problems. You can't think your way out of a problem, you have to execute out of your gut to get out of the problem. 

 Jared Yellin
 For me, I am constantly observing, thinking, analyzing, and that's really what I do. I, that's not replicated like, totally get that because people ask me the time, like, what do you, what did you read to learn that I don't really read? Like I just nonstop thing I observed, I analyze. But most importantly, I execute the moment. My gut says execute and I've conditioned myself to do that. I don't get stuck in my thoughts. I always have testing things that I think of. Cause eventually they get into your gut and that's where really everything comes from is your gut. That's your intuition. So I can't tell anybody a book. What I can tell them is do this. You have to start taking maniac action. You just have to like in whatever domain you're in, you were talking before about people that invest in real estate and they have like just enough deal flow. 

 Jared Yellin
 That's when you start making bad decisions because you have like, just enough, you have just enough leads. You just enough. You have to have so much more than enough that you could become selected and create criteria non-negotiables around your decisions. We've had thousands of entrepreneurs come through our process, like thousands, they say yes to the right 150, right. That's the reason why we have the right 150. I just encourage you take more action than you thinking about taking action. Like just do it, like create more content, like get out there and become what many call omnipresent. What omnipresence means is that your ecosystem, the people that are following you, they feel like you're everywhere. That's because you are everywhere because you're producing, you're sharing. You're telling stories, you're looking at deals. Keep adding more to your life, become an end person. Not an four-person. Most people are picking and choosing. 

 Jared Yellin
 I just don't do that. If it's aligned with what I value it's and that I just create more bandwidth. I have really firm boundaries and at five o'clock every day I'm dad, until my kids go to bed and then I'm with my wife until she goes to bed. And then I spend 90 minutes writing. That's what I do instead of reading, right? I spend 90 minutes writing, which prepares me for the next day. I don't know if the 4:00 AM, but I'm in the gym and I never miss a workout ever. I eat really tight from a diet perspective. I have energy to do what I do and I keep doing it and I just have firm boundaries, but I keep on adding and I keep then on finding people that have the flame that's needed to execute on the stuff that I add. I'd encourage everybody to find their version of that and to execute with reckless abandon and take maniac action. 

 Jared Yellin
 As a result, 

 Mario Dattilo
 This guy is a maniac. I love it, Jared. Hey, thanks for being on today. How can people get ahold of you? Obviously there's people with some great ideas and great work ethic and have, some big visions listening to the show. How could they get ahold of you to either refer some opportunities to you or potentially bring their own opportunities to? 

 Jared Yellin
 I'd encourage everybody to go to the website. Project 10 k.com 10, like the number 110 k.com. We have many different access points. Go check out all the different access points to get involved with. Whatever's most appropriate. That is also where if you have an idea and some with an idea, have them submit it there and go through our process. I know this audience is a group of investors. We are actually doing a formal fundraise right now. This is the first time we've ever done this because grants scenario was just by accident. There was no, there was nothing formal about that whatsoever. We raised $20 million as we speak we're well, on our way, not only do we have interests, we have commitments and capital that's already been contributed. It's, it's really well on its way. It's the only time we'll ever raise capital. Like this is right now and it's ownership of the actual holding company, which I cannot go to imagine what would be more exciting than that. 

 Jared Yellin
 That's not me saying it because I started it. I'm saying it because it's so diversified. It's so on the pulse of entrepreneurship, it's so impactful. If there is interest there, we speak into that a bit on the website, but feel free to on any social platform or send me a message. I'm happy to send you more details as well. You obviously have to be an accredited investor to invest in that opportunity, but it's definitely a unique unconventional opportunity and anything that was once unconventional becomes conventional because there was a point in time where going into a stranger's car for a ride was like extremely unconventional or sleeping on someone's couch that you didn't even know was like, no, never do that. Or, or documenting your life and posting it on the worldwide web. Like no, no. Every one of those things is now normal. This is an unconventional opportunity that we are proving is conventional and becomes a new standard in entrepreneurship. 

 Jared Yellin
 So love what you're doing, man. You're, you're an excellent interviewer. Like I mentioned, I do at least two, sometimes even three of these a day. You, you listen extremely well. I want to honor that your questions are on point and your audience. You're asking questions that can really serve your community. So great job with everything you're doing. 

 Mario Dattilo
 Thank you, Jared. Thanks again for being on the show. Hey guys, make sure that you're on the next episode. Cause I keep bringing on crazy visionary entrepreneurs, just like Jared. See you on the next one. Thanks for listening. I hope you got out of this as much as I did. I'd really appreciate it. If you could leave a five-star review so we can reach more people jump over to Mario, to tillo.net and find out what else I got going on. Be sure to connect with me on all the socials and I'll see you on next week show.