The Exchanges

Q Totally know how that feels in terms of those press releases. But tell me, how did it then transition into the world of tech?

A Yeah, so we already kind of mentioned the beginning of how we use tech. We also, like, crowdsourced a couple of our early tours using this platform, Tilt, which was, like, a really cool idea to, like, hey, like, let's not go places that people don't want us. You know what I mean? Let's go to the places where they really want us. So through using this technology, we were like, wow, this is an interesting space, how we're using it to our benefit. And then once we started to have some success musically, our business manager, who's been a really instrumental person, kind of shaping the way we think about business and conduct, The chain smokers organization. He was like, you should start looking at passive ways to make money, obviously investing in the stock market and places like that, but even into businesses that you are excited about. And Ember was one of the first companies we actually invested in, if not the first, and they're actually doing terrific, which is a godsend because if they really did badly, maybe we wouldn't feel the same about it at all. But we always joke, none of our investments have gone to zero yet, but it's just because we haven't been around long enough. But it was funny because now I can think of all the reasons why we invested into this business. But at the time I'd be lying if we said we were thinking that way. We were just like, this is a really cool pr…

AI assessment note: “Ember was one of the first companies we actually invested in”

Q you, to a much greater extent than me, but both provide distribution that others can't on cap tables, and that's why you get special deals, and that's the sell. I guess my question to you is, to what extent are you able to, other than lending your name, really engage in the companies? And I guess for you guys personally, like, how do you like to work with the founders?

A For us, being a good partner is the most important thing. I mean, we're founders ourselves, so we understand the excitement and the stress that a lot of these people are going through, and being able to identify with people like that I think is really helpful. When we created Manus, the idea was to create a family of LPs amongst the Chainsmoker equity that we can all add value into the businesses we make, and they can also advise us to make calculated decisions. So we really curated our LP list in a very intentional way, where we kind of have a guy for everything that's a respective leader in their industry. And that's also to help us advise us and make the smart decisions, but also add value into the businesses that we invest in through their channels and networks. And that's something we were pretty clear about when anyone invested as an LP in our fund. So obviously there's the press element and things like that, but to us, it's a red flag when a company's like, hey, can you just like post us on social media? You know what I mean? We feel like that's a really short-sighted way for us to add value through our tequila business, through playing shows. We have relationships with every restaurant, every club, every venue, point of sale systems. We have a global network kind of at our fingertips to add value to these businesses and really help them grow. Sometimes it's as simple as…

AI assessment note: “to us, it's a red flag when a company's like, hey, can you just like post us on social media?”

Q you, to a much greater extent than me, but both provide distribution that others can't on cap tables, and that's why you get special deals, and that's the sell. I guess my question to you is, to what extent are you able to, other than lending your name, really engage in the companies? And I guess for you guys personally, like, how do you like to work with the founders?

A For us, being a good partner is the most important thing. I mean, we're founders ourselves, so we understand the excitement and the stress that a lot of these people are going through, and being able to identify with people like that I think is really helpful. When we created Manus, the idea was to create a family of LPs amongst the Chainsmoker equity that we can all add value into the businesses we make, and they can also advise us to make calculated decisions. So we really curated our LP list in a very intentional way, where we kind of have a guy for everything that's a respective leader in their industry. And that's also to help us advise us and make the smart decisions, but also add value into the businesses that we invest in through their channels and networks. And that's something we were pretty clear about when anyone invested as an LP in our fund. So obviously there's the press element and things like that, but to us, it's a red flag when a company's like, hey, can you just like post us on social media? You know what I mean? We feel like that's a really short-sighted way for us to add value through our tequila business, through playing shows. We have relationships with every restaurant, every club, every venue, point of sale systems. We have a global network kind of at our fingertips to add value to these businesses and really help them grow. Sometimes it's as simple as…

AI assessment note: “We have a global network kind of at our fingertips to add value to these”

Q Can I ask, is it the chip on your shoulder that people are like, hey, you don't need to be doing this, why are you doing this? Where does that chip come from?

A For me, I mean, I think that's part of the reason why Drew and I and our partnership work so well. It's like, I think we push each other continually out of each other's comfort zones, and then at that point, it's like, all right, Well, if we're doing this, we got to do this, and I think we've always been like that. I mean, for me, my father passed away when I was 13, and one of the things I remember, like, my advisor, Mrs. Park, was like, you're gonna really not amount to anything if you keep acting like this and being like this, and you have a choice. You can go left, you can go right, and I was like, I refuse to be, like, a statistic for, like, a child whose father passed away when he was young, and now he's, like, screwed up or something, you know, and I'm definitely screwed up, but I use that ambition to really push me forward and drives us, because it's like, Drew and I, we always know we're not the The smartest guys in the room, but like, we know like the work that it takes to accomplish things. And there's no, even if you're really smart, there's no shortcut through the work. And that to us, it's like, all right, we had a hit. Can we make a bigger hit? Can we reach more fans? Can our show become the best show on the planet? Everything we do is inherent to things we already do, but then it's like, well, if we're going to do this, we got to like do it the right way and the…

AI assessment note: “I refuse to be, like, a statistic for, like, a child whose father passed away”

Q Alex, tell me, Drew gave your superpower being haggling. What's Drew's superpower?

A He can, like, really clearly kind of see, I don't know if the future is the best word, but he has, like, such an, oh, that's a good one. But, like, with these, like, you know, like, investing, or even music in particular, it's, like, it's never about, like, the status quo right now. It's, like, how do we think of this thing in, like, a year or two from now, and where that will be, and how do we, like, position ourselves to be in that place then? But also, he's a really good host, too, and just, like, the same thing, like, acknowledging people, making them feel special, like, they're the center of your universe, which I think is, like, something that everyone wants to feel like all the time.

AI assessment note: “He can, like, really clearly kind of see, I don't know if the future”

Q Totally know how that feels in terms of those press releases. But tell me, how did it then transition into the world of tech?

A Yeah, so we already kind of mentioned the beginning of how we use tech. We also, like, crowdsourced a couple of our early tours using this platform, Tilt, which was, like, a really cool idea to, like, hey, like, let's not go places that people don't want us. You know what I mean? Let's go to the places where they really want us. So through using this technology, we were like, wow, this is an interesting space, how we're using it to our benefit. And then once we started to have some success musically, our business manager, who's been a really instrumental person, kind of shaping the way we think about business and conduct, The chain smokers organization. He was like, you should start looking at passive ways to make money, obviously investing in the stock market and places like that, but even into businesses that you are excited about. And Ember was one of the first companies we actually invested in, if not the first, and they're actually doing terrific, which is a godsend because if they really did badly, maybe we wouldn't feel the same about it at all. But we always joke, none of our investments have gone to zero yet, but it's just because we haven't been around long enough. But it was funny because now I can think of all the reasons why we invested into this business. But at the time I'd be lying if we said we were thinking that way. We were just like, this is a really cool pr…

AI assessment note: “our business manager... was like, you should start looking at passive ways to make money”

Q Can I ask, most founders are always like super, not concerned, but thoughtful around the process of getting to know their ambassadors. How do you like to get to know founders, given the profile and your availability? I'm interested to hear how you think about it.

A We really love to be on every call. I mean, I think that's really important, especially at the beginning. We want them to know that we are involved and care a lot about this. We learned a lot through conversations about how Ashton handled his fund and how great of a product guy he was. And, you know, I think Drew and I bring some really great skills in addition to Milan and Jeff, who are the GPs in the fund, who are very complimentary to us. And so to us, that's the most exciting conversations. That's when we learn if we want to invest. And it's almost like a storytelling session. Where it's like, tell us how you got here. Why are you here? What led you to this point? And those stories are so inspiring to us because you're learning this person's life story of why they've led them to this moment to create this business that hopefully is going to change the entire industry they're in. And that to us is so fascinating. And you can really get a sense of like someone, because if you're investing early in seed and series a little bit less, but you're investing in people. And Drew and I really like to think that we're good identifiers of whether someone has that chip on their shoulder. Cause Drew and I had Very much both have that chip on our shoulder, where it's like, we've had conversations, like, you guys are rich, like, why are you doing this? And it's like, it never feels like th…

AI assessment note: “We really love to be on every call. I mean, I think that's really important”

Q Alex, tell me, Drew gave your superpower being haggling. What's Drew's superpower?

A He can, like, really clearly kind of see, I don't know if the future is the best word, but he has, like, such an, oh, that's a good one. But, like, with these, like, you know, like, investing, or even music in particular, it's, like, it's never about, like, the status quo right now. It's, like, how do we think of this thing in, like, a year or two from now, and where that will be, and how do we, like, position ourselves to be in that place then? But also, he's a really good host, too, and just, like, the same thing, like, acknowledging people, making them feel special, like, they're the center of your universe, which I think is, like, something that everyone wants to feel like all the time.

AI assessment note: “He can, like, really clearly kind of see, I don't know if the future”

Q Can I ask, is it the chip on your shoulder that people are like, hey, you don't need to be doing this, why are you doing this? Where does that chip come from?

A For me, I mean, I think that's part of the reason why Drew and I and our partnership work so well. It's like, I think we push each other continually out of each other's comfort zones, and then at that point, it's like, all right, Well, if we're doing this, we got to do this, and I think we've always been like that. I mean, for me, my father passed away when I was 13, and one of the things I remember, like, my advisor, Mrs. Park, was like, you're gonna really not amount to anything if you keep acting like this and being like this, and you have a choice. You can go left, you can go right, and I was like, I refuse to be, like, a statistic for, like, a child whose father passed away when he was young, and now he's, like, screwed up or something, you know, and I'm definitely screwed up, but I use that ambition to really push me forward and drives us, because it's like, Drew and I, we always know we're not the The smartest guys in the room, but like, we know like the work that it takes to accomplish things. And there's no, even if you're really smart, there's no shortcut through the work. And that to us, it's like, all right, we had a hit. Can we make a bigger hit? Can we reach more fans? Can our show become the best show on the planet? Everything we do is inherent to things we already do, but then it's like, well, if we're going to do this, we got to like do it the right way and the…

AI assessment note: “my father passed away when I was 13, and one of the things I remember”

Q Can I ask, most founders are always like super, not concerned, but thoughtful around the process of getting to know their ambassadors. How do you like to get to know founders, given the profile and your availability? I'm interested to hear how you think about it.

A We really love to be on every call. I mean, I think that's really important, especially at the beginning. We want them to know that we are involved and care a lot about this. We learned a lot through conversations about how Ashton handled his fund and how great of a product guy he was. And, you know, I think Drew and I bring some really great skills in addition to Milan and Jeff, who are the GPs in the fund, who are very complimentary to us. And so to us, that's the most exciting conversations. That's when we learn if we want to invest. And it's almost like a storytelling session. Where it's like, tell us how you got here. Why are you here? What led you to this point? And those stories are so inspiring to us because you're learning this person's life story of why they've led them to this moment to create this business that hopefully is going to change the entire industry they're in. And that to us is so fascinating. And you can really get a sense of like someone, because if you're investing early in seed and series a little bit less, but you're investing in people. And Drew and I really like to think that we're good identifiers of whether someone has that chip on their shoulder. Cause Drew and I had Very much both have that chip on our shoulder, where it's like, we've had conversations, like, you guys are rich, like, why are you doing this? And it's like, it never feels like th…

AI assessment note: “it's almost like a storytelling session. Where it's like, tell us how you got here.”

Q Totally. Penultimate one, what would you most like to change about the world of tech today? You've got a fascinating purview coming, obviously, from music, and now coming instantly. That world and bunches specifically. What would you most like to change?

A I would probably, and this is on behalf of all of our friends we've spoken to in Silicon Valley, I feel like we want to remove them from Silicon Valley and move them somewhere else. Everyone just complains about San Francisco and the culture and everything there. We've never lived there, so I don't want to speak ill of it, but I definitely, we've thrown a couple of after parties there, and I wouldn't say it thrives on the energy, but I feel like we're almost too new to make that judgment in some ways, but I think that what we love doing is Creating environments for people to meet one another and thrive in and feel comfortable and truly be themselves. So that's something we just hope to bring to the table, which is like, whether that's like conferences or events where like people from both sides of the table, whether you're an investor or a founder can come together and just kind of relate as people. And we know some friends that do that really well. Vivi Nevo, who we've become close with is an incredible human being who brings people together all the time. And I think that's just such a exciting, fun way to do things.

AI assessment note: “remove them from Silicon Valley and move them somewhere else.”

Q Totally. Penultimate one, what would you most like to change about the world of tech today? You've got a fascinating purview coming, obviously, from music, and now coming instantly. That world and bunches specifically. What would you most like to change?

A I would probably, and this is on behalf of all of our friends we've spoken to in Silicon Valley, I feel like we want to remove them from Silicon Valley and move them somewhere else. Everyone just complains about San Francisco and the culture and everything there. We've never lived there, so I don't want to speak ill of it, but I definitely, we've thrown a couple of after parties there, and I wouldn't say it thrives on the energy, but I feel like we're almost too new to make that judgment in some ways, but I think that what we love doing is Creating environments for people to meet one another and thrive in and feel comfortable and truly be themselves. So that's something we just hope to bring to the table, which is like, whether that's like conferences or events where like people from both sides of the table, whether you're an investor or a founder can come together and just kind of relate as people. And we know some friends that do that really well. Vivi Nevo, who we've become close with is an incredible human being who brings people together all the time. And I think that's just such a exciting, fun way to do things.

AI assessment note: “we're almost too new to make that judgment in some ways”