00:12:41 · Guillaume Moubeche, Steven Schwartz
[00:12:41] S1: No. You... Like, fiat currency, like, normal Well, [00:12:44] S0: there's actually no difference of of Tether and and USD. But the real value of Tether is that if you are in a country that doesn't support bank accounts, which is a lot of people in the West take advantage of the fact that we have a bank account with Chase and Bank of America. But if you're gonna go to Latin America, and you're gonna go to Guatemala, you're gonna go to Morocco, or you're gonna go to Nigeria, or wherever other country, or Thailand, they have way less infrastructure that lets them build credit and and have a real bank account. And they they don't even... Oftentimes, they get rejected for for no reason. I mean, there's not even a there's not even a pathway for them to open a bank account. So the the... What Tether unlocks is a open network that everybody in Thailand, and and Morocco, and Nigeria, and Latin America can all use. And if you wanna send money from from Thailand to Morocco, you can do that. But if you don't have Tether, then you have to have the local banking rails, which is like kind of a huge pain in the ass. You think there's money, a Nigerian bank isn't gonna talk to a bank in Thailand, like it's gonna be weeks, and then you're gonna pay huge percentages in Forex fees, so it's just a nightmare. And Tether is a... Is an open network that lets those transactions happen without intermediaries. Nice. [00:14:00] S1: And it's fast. Yeah. And how exactly did you build that partnership? Because I'm assuming that a lot of people want to partner with Tether. No?
00:14:00 · Guillaume Moubeche, Steven Schwartz
[00:14:00] S1: And it's fast. Yeah. And how exactly did you build that partnership? Because I'm assuming that a lot of people want to partner with Tether. No? [00:14:11] S0: Yeah. I think so. I I would say that we got connected through through mutual relationships, and we already have a huge amount of people that are earning money. And I mean, we have almost 40,000 people a month that are earning over $300,000,000 now each month. So that's like a pretty sizable amount of people and sizable amount of earnings. And I'd say that Tether wants to make sure that they're partnering with the platforms that really care about their growth, and are ambitious, and are trying to build the future that is more open. And I don't know how many platforms are like that. So so I think I think because of that, it's it's likely eagerness to work with us, and and vice versa with them. [00:14:58] S1: You talked a lot about internationalization and the fact that you had, like, people a bit all over the globe. So how do you build a company with so many different region and geographies?
00:14:58 · Guillaume Moubeche, Steven Schwartz
[00:14:58] S1: You talked a lot about internationalization and the fact that you had, like, people a bit all over the globe. So how do you build a company with so many different region and geographies? [00:15:10] S0: It's hard. There's there's... You kinda just have to do it. You know? I mean, there's different requirements, different rules in different countries. We have to have different entities in different countries. There's different payment methods in different countries. You have to change the language on the site to different countries. And you can use AI to translate, but you're gonna miss all the the local slang and lingo, and we therefore have to have people manually go translate all the different parts of the site. So I mean, there's a huge checklist of items that we have to basically follow if we wanna enter a new market, and it's a pain in the ass. But we have to do it, and we're doing it. So that's how. [00:15:44] S1: So, you've hired, like, people in many different regions?
00:15:44 · Guillaume Moubeche, Steven Schwartz
[00:15:44] S1: So, you've hired, like, people in many different regions? [00:15:48] S0: We have hired people in many different regions, that's right. And we have an awesome team that is focusing on expansion, and they travel a lot. I don't know how they do it. Mean, going new country every single week, and talking to different people the different regions, and the different business owners, and looking at the types of businesses that are flourishing in Spain versus Morocco, or Colombia, or whichever country, very different. And it's very cool to... For us to see HQ, like, wow. This this city is lighting up today. I think Greece was the highest growth country yesterday, and I don't think people think about what kind of business is actually conducted in Greece versus conducted in The USA, but it's very different. So I... It's really fun to see what the globe is doing from a business perspective. [00:16:36] S1: And from a playbook perspective, like, do you run the same playbook in every country that you want to open, or how is that structured?
00:16:36 · Guillaume Moubeche, Steven Schwartz
[00:16:36] S1: And from a playbook perspective, like, do you run the same playbook in every country that you want to open, or how is that structured? [00:16:44] S0: If the playbook is just saying, hey, let's try to grow... As as fast as humanly possible, onboard the best businesses, then that's that's the playbook. And, I mean, there's not a secret sauce that we have. There's not like a magic wand that just we go to the country and and put our put our our sword in the ground and say, alright. All business is now on the platform. We're we're going talking with universities and and programs throughout the the cities and countries in the region. The entrepreneurship club is the businesses that are influential in the region, and try to get them on, make sure we adjust the product, make sure they love it, and then they tell everybody about it, and it's a great playbook. So that's our playbook. [00:17:24] S1: Okay. And what would you say is like your number one acquisition channel right now? [00:17:29] S0: Number one acquisition channel, well, I mean, we have probably like 50,000 user sign ups a day, and those are not, or are wired, yeah, right, because there's so many people that are trying to either work with businesses on our platform, or buy things from businesses on our platform. So the best way that we grow is making sure that we're doing a good job for the businesses on our platform, and they tell their friends, they onboard their users, and it's it's an awesome acquisition channel.
00:17:29 · Steven Schwartz, Guillaume Moubeche
[00:17:29] S0: Number one acquisition channel, well, I mean, we have probably like 50,000 user sign ups a day, and those are not, or are wired, yeah, right, because there's so many people that are trying to either work with businesses on our platform, or buy things from businesses on our platform. So the best way that we grow is making sure that we're doing a good job for the businesses on our platform, and they tell their friends, they onboard their users, and it's it's an awesome acquisition channel. [00:17:59] S1: So if I understood correctly, like whenever someone's buying from business that's on Whop, they would understand that they're using Whop, or... [00:18:08] S0: Yeah. That's right. We we... I mean, a lot of people want us to be a white label product, but we're not. And I think that it's important to us that we're building a network, and building a platform that is beyond just some basic SaaS that you can do with AI now. So that's not our goal, and you do know you're on Whop. We have a lot of embedded components, right? So you can embed chat, you can embed checkout, you can embed wallets on your own website, your own mobile app, but people complain a lot about the lack of customization on the branding, and we're not really changing that. So that's that's... And people maybe don't always know their their... Hey. I I actually... Mean, yeah. I I don't know. I think people do know. They should know. They they... We don't let the customization happen on purpose.