Start With Your Personality
Anne Gibbon
Devin Miller
The Inventive Journey Podcast for Entrepreneurs
3/16/2021
Start With Your Personality
The Inventive Journey
Starting and growing a business is a journey. On The Inventive Journey, your host, Devin Miller walks with startups along their different journeys startups take to success (or failure). You also get to hear from featured guests, such as venture firms and angel investors, that provide insight on the paths to a successful inventive journey.
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ai generated transcription
i think you should start with your own
personality and really understand
yourself and your strengths and
weaknesses and just
what are you drawn to and what do you
avoid because
in this game when there's only a couple
people and you don't have a lot of
like structured accountability you can
really go off the rails
if you don't um pay very close attention
to the stuff you know you're going to
avoid
so it's like driving down the road you
know there's going to be potholes
why not plan to avoid them like just see
them ahead of time instead of bouncing
your car through those
[Music]
hey everyone this is devin miller here
with another episode of the inventive
journey i'm your host devin miller the
serial entrepreneur
entrepreneur that's uh grown several
businesses and the
seven and eight figure uh or several
startups in the seven and eight figure
businesses
as well as a founder and ceo of miller
ip law
where we help startups and small
businesses with their patents and
trademarks
if you ever need help with yours just go
to strategymeeting.com
we're always here to help now today we
have another guest a great guest on the
podcast
anne gibbon and uh just as a quick
introduction and so she
got started as an entrepreneur after
kind of watching her dad
be an entrepreneur growing up and do his
own small businesses
as an example in high school i think he
refinanced uh refinanced the property
tore it down rebuilt it
and she kind of got the idea that the
buck stopped here buck stopped with that
with him
um and then uh dad always also wanted to
always go in the military but never
quite
wasn't able to so anne decided to go
into the military then naval academy
found out she wasn't as great about
taking orders or being told what to do
but did stick with it i think for 10 or
10
or so years grateful for what she
learned and i think you were also just
as a side note a boxer in the military
and even won some prizes and we'll touch
uh shortly on that
but then kind of got to the end of that
went to design school for a year
enjoyed creativity doing things new i
did a whole bunch of design projects
i think went to new zealand or was in
new zealand for a period of time and
then came back to washington
and then decided to create her own thing
which kind of brings her uh brings her
to where she's at today so
with that much as a as a introduction
welcome on the podcast and
thank you so much for having me i'm
really excited to be here
so completely random question but do
people ever get confused between ann or
annie because it's a-n-n-e and i'm never
quite sure if i was supposed to say ann
or abby
no anne's perfect and um i
i've stopped doing it i guess for a
decade or so now but i used to love
introducing myself
um as and with me like anne of green
gables
oh my wife would appreciate that that's
one of her shows that she loved watching
their
growing up so that's funny well perfect
well i gave a quick introduction to you
and a little bit about your journey but
now let's go back in time a little bit
tell us a little bit about your dad
watching him to be an entrepreneur
growing up and
let's hear about your journey yeah um
my dad just kind of fell into it no way
his dad was in the navy in pearl harbor
um and during world war ii and then the
army um
for a career and so when he got out my
grandfather bought a gas station and my
dad was made to work there from the age
of 12 like every day after school and
every summer so
um when he was 23 he bought his own gas
station kind of on the same
corner and uh so it's almost
default like he didn't really think
about it um but
watching him growing up he you know
brought us his kids to meetings like
401k
um explaining that and he freaking loved
to give advice so he was always telling
us about
um hey this is what happened with the
business
and like this is what i did with my
employees and
my bedroom sleeping in our old house um
growing up was next to my parents so i
could hear through the walls so when
you know somebody from work would call
at night like at two in the morning i'd
hear it and kind of wake up and
hear my parents talk about it um so if
there was you know an accident because
he had uh some tow drivers too and so if
there was an accident or an issue at the
store like
it wasn't the gas station wasn't in a
great part of town so every so often
there'd be a break-in
or theft or something and um
i just got used to
seeing somebody manage this weight of
like it's all on me and the
you don't want to do it your whole life
but it takes a specific kind of desire
because there's trade-offs right like
you're
the one like i remember talking about if
something happened with the tow trucks
and they lost their insurance
they'd have to shut down the business
and like that's that was it i remember
when my dad bought the property from
arko
and built his own new gas station that
if when they were
replacing the gas tanks with new ones
if they found oil in the ground the last
ones had leaked
he wouldn't be able to build for years
if ever and that would be the end
and i just was able to experience as a
kid
some adults making really hard decisions
and taking big risks
and deciding this you know for our
family it was huge and deciding to swing
for the fences
and i think it just really lit inside me
of fire
to want the yolk on my shoulders and
want responsibility because i saw
the kind of freedom that came with it
but also how you could impact people's
lives like my dad
one time um he had a
a gas station service employee who was i
think like 19
and going to be a young father and
he made sure that he found the local
community
college or the library class on
parenting for dads
and they went to it and he pushed him
they talked to him about parenting and
helped him get excited about it even
though this this kid was young and
remember he took a trash bag out to his
car because it was filled with wrappers
and stuff once it was like we're not
leaving until this car is cleaned up and
he cleaned it up with him and
um i just
was a great example kind of growing up
and i think that's always a cool thing
to be able to see a
a bit of an entrepreneurial parent or
someone that's you know
sets that example because it sets it up
you know sets up the the kids to follow
in the footsteps so now as you did that
and you had that example growing up you
kind of see what it was like the buck
stops here
see the example now how did you get into
doing going into the navy and doing
boxing because that you know that one
is a bit of a shift and you mentioned a
little bit that was a bit even a little
bit of an example with your dad but how
did you get into doing that
yeah well he was both cheap and when he
redid the gas station um he
used all of our college money that he'd
saved and i was coming up on college
quick
so he thought fast and realized that um
the surface academies west point
air force coast guard and navy
it's free tuition right it's free to him
but
he had a mandatory service in five years
when you graduate so
one um when i was in ninth grade my dad
took the family
we grew up in washington state and we
went to the east coast and his only
reservations for a
two-week like super cheap vacation were
football games at
the naval academy and army west point
he was super into the marketing of
effort
then and i just i fell in love with the
school and
the grounds and the energy there you
know we got to like have lunch with some
midshipmen or something and i just
felt like if i went there
i wasn't just going to get an education
they'd also teach me leadership
and it was something i really wanted to
know because i i loved watching my dad
and i thought well how much
you know better could i be if if i could
go somewhere where they teach it
so and i didn't want a desk job like i
had no clue in the 90s what careers were
out there
i mean and this is embarrassing when we
went to the air force academy
i thought the only two options were to
be a pilot or a chef
no clue why i thought that chef was an
option
anyway at the air force so i just
thought man if i go if i join the navy
i'm going to have an adventure
and it turned out that way so you joined
the navy now
how did that how did you get into box or
while you're in the nic because i think
you did while you're in the navy did
boxing right
so was that a something that you were
interested and
grew up doing or was it something you
learned while you're in the navy because
it just seems like
sounds cool and i always thought boxing
would be fun i've never done it but i
always thought it sounded
like it would be a fun sport but how did
you how did you kind of get into that as
well
um i'd always liked contact sports when
i was in high school i played basketball
and
loved it sorry i shouldn't swear
i'm a sailor
um so i fouled out
a lot of games i just really liked
contact sports and i kind of liked
basketball too
but in college i rode for three years
because
around that time i'm again really lucky
timing wise but uh
colleges were needing to even out the
scholarships they gave women
and so there was a lot of schools
recruiting women for rowing and i'd done
that a couple years as well
and my coach um shout out to kathleen
walker she was amazing in high school
and really
kind of nurtured our self-confidence too
and so anyway so i wrote three years in
college um but
my sophomore year uh there's mandatory
pe classes the whole way through
swimming
she could imagine but also uh
grappling and judo and boxing so
sophomore year
i get paired up with another girl my
height and um
we only have like two one minute rounds
as our test and our the boxing coach for
the school is
our pe teacher at that point and i just
freaking
loved it and went at it and i think this
poor girl was a little afraid and so
after that the boxing coach was like you
should quit crew and come out and do
this and
um i was like oh no i'm happy like i
like this girl's team but
uh so my my one of my biggest failures
in my whole life
was not deserving to be elected team
captain of my crew team
and it was the only thing i wanted i
quickly got frustrated with the academy
and the rules and structure right um
previewed in my later life
and i thought man if i can just be
capturing this crew team like i can
show that i came here to lead not to you
know be an athlete or something like
i came here really intentionally and
of course i didn't put in the effort i
didn't go to girls rooms
after practice and check on them i
didn't do i didn't put in the effort i
needed to to show that i was worthy of
leading them and so i didn't get picked
and it was
devastating um so then i decided you
know
screw you guys i'm out so my senior year
um
the boxing coach had sent a few of his
guys to um like recruit me like i'd
be doing laundry or something and i'd
say coach is telling you to join the
team anyway so
i joined and i i was the first woman
ever to box for navy like on our team
um at that point national collegiate
boxing the association because it's not
i don't think it's even still part of
the ncaa
um i didn't have women matches so my
coach was also an amateur ref
out in town and he found me a fight at a
union hall in baltimore with
red solo cups and dancers holding the
round cards and
i think we were all one of the only
female fights on the card
um but i'm i am a big girl i'm a
heavyweight boxer
but i moved pretty well on my feet and
um so my first fight the first fight for
women ever at the naval academy i
knocked that girl out in the first round
and it was incredible i loved it
so no that sounds like fun i i said i
always thought
never got never actually done boxy but
it was always one that i thought it
looked like it'd be exciting and be fun
and so maybe someday i'm
you know i'll still maybe someday i'll
still get into it
but so you know you do the navy you know
you you do that for a period of time you
kind of find out hey i don't necessarily
love to be
told what to do and taking orders but
you still stuck with it for quite a
while and you had a good you know career
and
did that for a period of time and also
gotta do the rowing gotta do boxing and
that
and then you get to a point where you
say hey okay i've decided i'm going to
you know leave the navy or kind of move
on in the next phase of your career
kind of how did you decide what you were
going to do next or what was that
transition like for you
um absolutely terrible so i
knew that i wanted to transition out
i've been in for 10 years
and there's prescribed career paths for
people officers in the navy so
if you get in as an ensign or whatever
like your first year at 22
they can kind of tell you what your 30
years is going to be like like here
wickets you go to ships or a plane
like squadron or shore or whatever and i
just wasn't following
the path for my specialty which was on
ships
so i knew i kind of needed to get out
but i'd submitted my papers knew that i
was leaving in like july of 2013
and then i broke up with my fiance and
then i really had no idea what i was
going to do so i got lucky
and fell into an opportunity because um
you know i just kept asking questions
and people were nice and so they said oh
if you like this you should try
x and that happened to be the stanford
d-school
program and they um had at that time a
professional fellowship so there was 10
of us that year 10 fellows
from all different kinds of
organizations and
i worked on an ag tech project on my
first year
for six months out of the navy no i
think that that's interesting because
one of the interesting is you know when
you kind of tell people or have people
say hey you'd be good at this and how
you know hey you have you thought about
this
it's a lot of times it's helpful in the
sense that it helps you to step back
kind of
a lot of times people see skills that
you're naturally good at but not
that you wouldn't necessarily think of
yourself or that you wouldn't
necessarily go down that route so it's
interesting that that's
kind of how you at least kind of started
got into that and started down that road
so
so now you go to design school for a
period of time you know you
learn those skills and you're coming out
of that you know what did you decide
or how did you i think after that you
went to new zealand
is that right is that the next step yeah
um 2014 was the first time
that i um met
uh mallory so i was um
in the d school but just fitting the
chain on my fellowship and
got a opportunity to help with a one-day
workshop so
there are several maori business leaders
in the field of like food and ag tech
and they wanted a design workshop and
i i got really excited so i used this
concept from
marvel movies of transmedia like there's
one
kind of avengers story world universe
but they're able to break it down in
these
um silos stories like thor and iron man
but they exist on their own like you can
just watch those you don't need to watch
the whole thing but if you do
it there's these consistent elements and
that was similar to maori
tribes ewi where they had really um
distinct tribal identities and they
wanted to preserve those in the products
when they
exported but um they also wanted to have
an overarching like avengers
like ish but like maori brand so that
you could have the umbrella and the
individual identities
and they liked it and came back um
several months later so i did some
consulting in new zealand for a few
weeks in 2015
and then when i was there they asked me
if i'd like to move there
and uh so i said yes because that's
like when you open it let's go
yeah so now so you did that you did you
know and i think you mentioned you know
he did a bunch of different design pro
projects for a few different businesses
while you were there in new zealand and
working with the tribes and that as well
now you know after you did that for a
period of time what made you decide to
kind of
leave new zealand and come back to
washington and start your own thing
um i
it was the greatest privilege in my life
to be brought into
different ewe because they you know let
me spend time with their kids we did
design workshops for
high school kids they showed me
their their stories and their history
and
there's obviously a lot of pain around
kind of the colonial legacy for
indigenous people
but also so much pride there's so many
stories
and traditions um but especially the
thing that got me to move away
was that i saw all these leaders
in maori culture not just having a job
and working their butt off
but also spending a lot of time with
their community
and they just gave so much of themselves
because it was
their cultural tradition and
responsibility to do
and it brought so much joy and
connection back
so this sense of having actually having
a relationship
and a guardianship role for your
environment the place you're from
and it's not just kind of there out of
your mind but
you interact with that stream that river
that mountain it's your place and their
stories from your
ancestors 20 generations back from there
um and also the the tapestry of being
connected with your community
um and being and showing up for people
whether it's just
you know like at a funeral or it's um
kind of a cultural ritual like
weekend experience um that you helped
put on for
for kids and pass the stories down so
anyway i saw them
invested in this tapestry of their lives
and
i felt like i was an outsider and then
as a consultant like taking money from
that
and i wanted to go home and
try to understand what that connection
would be like to the place i grew up
and spend more time with my family so
so so now you said okay no and i think
that that definitely makes sense and i'm
a big proponent of family and wanting to
be back with family
and have that experience he said okay
i'm gonna move to erica move back from
new zealand come to
washington you know learned a lot of
great lessons had a lot of great
experience in new zealand
and you said now i want to be back by
family and you know have that experience
so you come back to washington and how
did you kind of land on doing your own
thing and how did that go and what
was it worthwhile and kind of what uh
how did you get or get into that phase
yeah well man if there's uh anybody
listening who
does not know what they're doing with
their life that was me until a couple
years ago
um i was in my
late 30s and
trying to piece together like what is
this career you know i was on
ships and i did these different things
in the navy and then i was
doing design stuff and then in new
zealand like where in the heck does this
all lead and like how am i going to have
a retirement right
and what do i want to do with my life so
i had narrowed it down like man i really
love
emerging technology futures i want to be
part of something
where we're watching the future and then
actually building tools or a service
that people use
to to bring themselves into that future
i realized i
i love leadership and i want to be
responsible for a team
again um and i liked like like small
fast teams so it was like okay probably
a startup probably tech
um and i have a you know thread like of
leadership and decision making
and from my work in the navy um and then
with
maori i got exposed to
act like the lack of software tools to
help people
make better decisions and specifically
to look at their data
and to look at their data with other
people and i had met
um so i didn't know what i wanted to do
but i was like okay i'm gonna look for
something in like
neuroscience neurotech or decision
making or something
and um when i got back to the states one
of my friends
um asked me to come down to san diego
because a couple other people were going
to meet at his house to do some research
and when i was there we were talking and
he was like well the timing works out
for both of us like why don't we just
start a company
so um sorry it's my 40th birthday and
although i turned my phone off my other
computer is
my cousin wishing you well having
all of your electronics interlinked
together is that they never will leave
you alone no matter
how hard you try no and i just like i
want to push this off the thing so um
by the way happy birthday that's that's
a great milestone so just as a complete
sign now but happy birthday
thanks it's um it's good to be 40 really
good i didn't know when i was 25 how
good it would be
um so my friend um he
had developed this concept for data
visualization so that's where we get
into the startup finally
um but i met him back in 2012 and this
is 2018
and i've always been kind of obsessed
here that i'm like this is brilliant
like it's an
open source tool in beta it had been
funded by the intel community for
like its first iteration um but they'd
struggled to gain any kind of traction
there wasn't like a company around it
they'd gotten a few research contracts
and it's it's really hard to use
um right now because it's not developed
it's not a product yet
and somewhat complicated because it
allows for dozens of parameters
of data to be shown in one scene so um
my now co-founder dave was like well
let's do something together like you're
he used to be
enlisted before he got his md and a phd
in neuroscience so he's a genius and he
likes giving me for being an
officer
and writing memphis he's like you can
write memos you can plan you can be the
officer
um and i don't have to do that and
eventually like we can make money and i
can have a research lab and stuff so
for the last couple years we've been
working on this company together
um well that's and that's cool so
um so now that you're building the
company you're you're you know
getting that experience and uh going you
know getting here
getting that phase of your life that
you've always wanted to be an
entrepreneur you get the opportunity to
get the chance
you know how did that go was it exciting
and it was a great experience was it
tough and difficult
was it you know getting all of the above
or kind of how did that go for you
yeah um it's definitely all of the above
i mean it's been a pandemic so
i have not like done my makeup maybe
more than like five days in the past
year
um and so those moments
you think well i have an ambition to
have a multi-billion dollar company
and have a huge team and right now it's
me
and another two people and i'm sitting
in sweats in my house for months on end
like going really slow
uh and so
i found that the time that i took
not to do something practical to move
the company forward but when i took it
to reinforce
the story in my head of how this would
evolve
and sometimes that was watching other
founders who'd been at it for 10 years
and they're like yeah in the beginning
it was
like it looked like this it looked like
this for a long time and then it went
you know up
um that was really helpful or it was
just telling our own story like we know
what we want to
do and kind of going back to the
fundamentals of why we started the
business and the the
core innovation um but
one of the things uh that i regret like
probably my worst business decision was
um
not spending our first funding wisely so
we got
an r d contract from the military uh in
2019 and we had six months of funding
and a couple hundred thousand dollars
and my
my co-founder was like all right you run
with it you're the project manager
and i just flubbed how we use the money
like we did something in the end but the
biggest failure point there was
instead of developing our core software
i listened to other people
um because i didn't i don't really
understand technology that well i
definitely didn't when we started i got
other core skills
um so i'm learning so you know two years
ago
i was kind of intimidated and we had
like hired some consultants
and developer to help us and they're
like oh this software's terrible like
nobody's going to use it talking about
ours
you you okay i get that you're doing 3d
objects you need to use blender
so we're let's design and blender and i
just went with that instead of sticking
to my guns of
um yes this is early days but the most
important thing is product market fit
understanding our customer and an mvp
not
getting uncomfortable with how ugly the
baby looks and trying something else so
it turned out of course
that blender didn't work for what we
wanted the development didn't go fast
enough
so we barely got a little bit of a
product done by the end of the research
contract but it wasn't what we'd
anticipated because
we didn't know the development times for
that software
um so it was it was not embracing
like my big takeaway was i didn't
embrace the ugly baby and the place that
we were at
like we just we weren't ready to have a
nicer tool we were ready
to only stay with the software that we
had with the little functionality it had
hard as it is to use but to really
understand it
um and understand potential customers
no no but you know it's it's one where
you look back and you see you know
they're they're mistakes we made but you
know it's also one that i think that
it's an easy one to make in the sense
that you know me
figuring out what the product is what
that fit is who the customer
is what the minimally viable product or
what is the first product you can put
out
all of those are ones you always hear
about but when you get into it it's
never that easy
to navigate but it sounds like after you
know for a period of time it was kind of
figuring that out working back and forth
and that kind of brings us up to
where you're at today where you guys are
still at it you've you know figured out
a bit more of that fit and who
the customer is and where that placement
is yeah so
so now as we and always more things to
talk about than time that's our time to
talk about it but we're getting towards
the end of the podcast so
i think that's a good transition talking
about your journey
to hit on the last couple questions i
always ask at the end of each podcast
which is the first one i always ask is
so along your journey
what was the worst business decision you
ever made and what did you learn from it
yeah um wasting that money was
the worst decision because my co-founder
and i were like oh my god like
can you imagine how much development we
could have done on our core product
if we had just stuck to our guns um so
it
feels a lot like a waste but that's
it's okay so um because i learned the
hard way
that there's no standard startup
timeline
like what you're doing is theoretically
unique that's why it's a startup
so it's gonna take the time that it
takes to get to a point where you feel
like
oh yeah we've got traction like we've
got customers that like this and people
understand it
or we're moving on so i actually just
slowed way down during the pandemic and
i learned to code last year myself i
learned python and created a bunch of
demos and used our tool
so um like i didn't
really do a ton of customer research at
all
i just made myself a customer and made
visualizations with it so then i knew
that
i know my tool better than way better
than i did a year ago
so no and i think that that's a good
lesson to learn and certainly
good mistake to learn and release of a
mistake to learn from so
now as we jump to the the second
question which is if you're talking to
somebody that's just getting into a
startup or a small business
what would be the one piece of advice
you'd give them that
it's very similar to you know leadership
at large but
um i think i so i used to
i ended up teaching leadership in the
naval academy for a few years
and i always thought that instead of
teaching
theory and here are like kind of the
great men to look at
whether it's in business or the military
i think you should start with your own
personality
and really understand yourself and your
strengths and weaknesses and just
what are you drawn to and what do you
avoid because
in this game when there's only a couple
people and you don't
have a lot of like structured
accountability you can really go off the
rails
if you don't um pay very close attention
to the stuff you know you're going to
avoid
so it's like driving down the road you
know there's going to be potholes
why not plan to avoid them like just see
them ahead of time instead of bouncing
your car through those
so um for me i really like strategy and
foresight
thinking but it was the um
getting really tactical and
just down to the nitty-gritty details
with understanding clients and then
not even being spread out with that like
picking one
market and diving in to find one
particular use case to start with and
that feels
like you're leaving so much on the table
and that's the startup advice that i
hear everywhere and then i think like
what's not new like well it's just
because everybody finds it challenging
to do so um my path into that insight
what i needed
was pay attention to your personality
and plan that your weak weaknesses
are gonna derail you if you don't have
kind of the if you didn't put in the
prep time to watch for the problems
ahead
no and i think that's definitely great
advice and something that
people can take to heart as they're
doing a startup or small business
well as we wrap up and you know for uh
just as a reminder for everybody that's
listening we are going to do the bonus
question where i talk a little bit about
intellectual property and your top
question there
so a reminder for everybody to stay
tuned but if they are going to tune out
before they do
if they want to find out more they want
to be a client they want to be a
customer they want to be an investor
they want to be your next best friend
any or all of the above what's the best
way to reach out or find out more
uh so our company is called matri design
and um i came up with that name when i
got
out of the navy my cpa was like just
give me something we can change the
paperwork later and
i was going into a restaurant i just
thought i'm sick of the
patriarchy let's call it the matriarchy
matrix so major redesign
is our company so that's on linkedin and
website like www.matridesign.com
and like then you'll find like twitter
and that stuff too
but our software is open source so
anybody can download it and try it
um and that's on github and the software
itself is called open ants
all right well i definitely encourage
everybody to check it out be a supporter
be a user
and especially open source so they can
use it and build on to it and find out
more about it
well thank you for coming on as we wrap
up the normal portion of the episode
it's been fun it's been a pleasure
now for all of you that are listeners if
you have your own journey to tell feel
free to go to inventiveguest.com apply
to be on the podcast we'd love to hear
your journey
um also if if you're listening make sure
to click subscribe so you get
in your podcast players so you get
notifications as all the new episodes
come out
and leave us a review so new people can
find us last but not least if you ever
need help with patents or trademarks or
anything else your business
feel free to go to strategymeeting.com
grab some time to chat with us
so now with that as we wrapped up the
normal portion of the episode is now the
time to we flip it a bit and i always
get asked the questions during the
normal portion um and so
i always get the easier i always say the
easier job and now you get to flip the
question a bit
with the bonus question you get asked so
what is your top intellectual property
questions i can answer for you
so it's around open source we think that
we want a business model where
the company the main company that gets
invested in
holds the core ip for the graphics
visualization engine
and then we imagine um potentially
creating other separate corporate
entities that would
have a license for that and maybe some
co-ownership
of shares and that other entity would
actually
build a proprietary function set of
functionality and database integrations
on top so
this um concept of holding
core open source ip in one company but
have but within like the same
group of people separating out
the um kind of licensing rights
for whether it's geography or markets or
something
into separate companies do you have any
thoughts on
managing that complicated space no
i think it's a it's a fair question and
as a as a side note and i'll certainly
get to answer your question where
i do i run a few different companies or
i'm certainly involved with a few
different companies and so
what i did is you know we i i created
what would be a parent company or almost
a holding company
within within each one of the companies
could be
uh owned by that parent company so kind
of a lease or lets them be siloed lets
them be
um separate and manage their own budgets
and have their own
expenses different taxes and you know
all the
by the same token i am able to hold my
own ownership in each of them
such that it doesn't become complicated
with too much of an ownership structure
so
that's kind of maybe a bit of a side
note but you know the the question is
and i think and i think far to put it is
you know you're looking at licensing
you're having opportunities to do
different different things with
different portions of the the
company and so whenever you look at
licensing and how you're going to do it
is
it i think that the first step you guys
have taken is right
in the sense that you can do it a couple
ways when you get into licensing and you
have different aspects one is you can do
it based on
intellectual property so generally a
patent that you could say okay for each
patent we're going to do a different
we're going to split up the different
technologies
for different patents and so we're going
to say hey this technologies
for this patent is going to go for this
and i can license that separately
than a different patent so that would be
one thing that you could set up if
you're just saying hey we have really
different areas we want to license we
want to keep it all in the same company
that would be one avenue the other one
is what you guys set up but i think is
an interesting and it can be a good
structure as we're looking saying hey we
really got almost
different areas of a company or
different things that each or different
things that each portion is doing
such that we either want to license it
and it also lends itself well to
if you're ever to do a merger or an
acquisition be bought out or otherwise
partner up that you're saying
hey now we've siloed it out such that
yes we are looking to
license or merge your acquisition or
whatever for this or this
avenue in this aspect but we then you
don't
intermingle everything else so it makes
it a clear or an easier conversation so
i don't know that i have a ton of
feedback other than that other than i
think that there's
there's good aspects of doing it now the
only thing you ever have to watch out
for is
if you really have one company they're
trying to run as three companies
it can get a bit complicated as to how
you run the budgets how you move the
money back and forth
how you you know are able to show a
unified front to the
to the customers or to the individuals
while you know running it on the back
end with multiple companies so that's a
a little bit more on the taxes paid or
expenses and also for
outward facing things that you always
have to figure out or just make sure you
account for
they can get a bit more complex but it
does have a lot of advantages to it
yeah that's good all right well with
that there's your there's a
your top intellectual property question
that was a good question and
a fun fun to chat about so um with that
we'll wrap up the podcast and i want to
once again thank you anne for coming on
the podcast it's been fun it's been a
pleasure
and wish the next leg of your journey
even better than the last
thank you so much thanks for having me
you