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- [00:00]
A
We have the Bible and the Torah. So you can basically like in a small nano chip to put all the book and see it through the magnifying glasses, which is like unbelievable. Yeah. And this is like a big, big concern. I just feel like everyone is replaceable today by AI. No one is really talking about it, but it feels like it's going to be like a huge wave and no one is also providing any solutions to this.
- [00:30]
B
Okay, guys, got Vladi here today, owner of Karma and Luck. You might have seen his stores if you've been in a Las Vegas casino. Thanks for coming on, man.
- [00:37]
A
Thank you. Thank you for hosting me. Yeah.
- [00:39]
B
Got you right before the big event in Hong Kong.
- [00:41]
A
Yeah.
- [00:41]
B
You're gonna be there for a while.
- [00:43]
A
Yeah, I'm flying for. You know, there's. Right now, like, we were facing a lot of materials price increase. So really for a lot of, you know, alternative solutions, you know, what's, what's in the market, you know, gold and silver are skyrocketing lately.
- [00:58]
B
Yeah.
- [00:58]
A
So we need like to go and look at the other options that we have right now and then what we can do, you know, to make up on, on, on the cost of goods right now.
- [01:10]
B
Do you sell a lot of gold and silver at the stores?
- [01:12]
A
Yeah, yeah. All our products are basically our silver.
- [01:16]
B
Wow.
- [01:16]
A
Yeah.
- [01:17]
B
And those have been skyrocketing lately.
- [01:18]
A
Right, right. So it's. And it came all in like a very short period of time. We were not read. Now it's kind of like, you know, a little bit challenging for us.
- [01:29]
B
Yeah.
- [01:30]
A
And, you know, we're gonna look like for alternative solutions and see how we can make it work.
- [01:37]
B
Yeah. Who would have thought it would go up so much?
- [01:40]
A
Yeah. I would buy probably silver ahead of time.
- [01:43]
B
Yeah. Imagine if you just had a ton you were sitting on. You'd be up so much. It's up 3,000% this year, I believe. Something, something crazy like that. That's crazy.
- [01:51]
A
It's unbelievable.
- [01:52]
B
Yeah. So that's eating at your margin, right?
- [01:55]
A
Right.
- [01:55]
B
Yeah.
- [01:56]
A
Yeah.
- [01:56]
B
So you got to go to Hong Kong.
- [01:58]
A
I mean, you know, most of the suppliers in this area, you know, it's. We're producing most of our products in Bali and Thailand and our, our factories are usually exhibiting in this trade shows. So we are also making meetings there and discussing our, like, you know, future.
- [02:19]
B
Yeah.
- [02:20]
A
How can we, you know, reduce the cost of goods?
- [02:24]
B
You think it's going to keep going up? Silver and gold, the price?
- [02:27]
A
I honestly don't know. You know, there's, it's, it's all depends on a lot of factors right now, but as far as what I hear, it's not going to stop anytime soon.
- [02:37]
B
Wow.
- [02:37]
A
Yeah.
- [02:38]
B
Holy crap. Start buying some gold and silver guys.
- [02:40]
A
I mean, people saying that gold can reach like $20,000 in, in the near future.
- [02:45]
B
Jeez. What is it at right now?
- [02:48]
A
Around 5,000 I believe. So instead of 4x5500.
- [02:52]
B
Wow. Yeah, that's a lot. Crypto's crashing right now. Yeah, crypto's down a lot. The dollar's down.
- [02:59]
A
Actually today it's a little bit correcting. I saw there's.
- [03:02]
B
Oh, it is, yes.
- [03:02]
A
It's a little bit going up, but you know, overall, big time down.
- [03:07]
B
I don't even look at my portfolio right now. It's down so much. I'm big on crypto, so.
- [03:13]
A
So yeah, I believe like in the. Let's see, you know. Yeah, no one knows.
- [03:19]
B
We'll see. There's so many conspiracy theories with crypto right now. Who made it and all that.
- [03:22]
A
If you're a long run player, you know, just the best. The best investor is a dead investor.
- [03:30]
B
Yeah. What's been your best investments?
- [03:33]
A
I'm actually like, I like biotechnology.
- [03:35]
B
Really?
- [03:36]
A
Yeah.
- [03:36]
B
Like stocks or stocks. Yeah. That's probably smart, right?
- [03:41]
A
Yeah. All my life I was like interested in like all different pharmaceutical companies, you know that.
- [03:47]
B
What about AI? You invest in AI?
- [03:49]
A
Yeah, yeah, yeah, yeah. But definitely is a big, big right now factor in the business. It's, it's just unbelievable like what you can do with AI. Yeah, it's just insane. You know, I just did a few days ago, I was like laying down on my bed like around 9pm and I saw like a big sale came from one of the cities that I know we have customers. Loretto, Texas.
- [04:19]
B
Yeah.
- [04:20]
A
And I said to myself, you know, like, hey, you know there is for sure. I can right now make like a very deep analysis of all my customers. First thing I did in the morning when I woke up, I literally download all the data of all my customers. Uploaded all to the AI said, listen, I needed a very detailed analysis about all my customers, the zip codes, who are they, you know, everything I can, like what's their AOV, lifetime value and etc. Etc. And it was just phenomenal. I made like any within like 20 minutes and analysis in a deck. Okay. That I propose and I sent it to all my team, which was absolutely amazing.
- [05:06]
B
Wow.
- [05:07]
A
So detailed. You know, literally take the deck and go execute.
- [05:11]
B
Wow.
- [05:11]
A
Yeah. Like with your top zip codes, you know, like where you need to advertise when you need to open the stores. You know where is your highest conversion rate of your customers? It's just phenomenal. Holding crop is just phenomenal. Yeah, that's People used to pay like hundred thousands of dollars to this analysis to do it with McKenzie.
- [05:32]
B
Yeah.
- [05:33]
A
Or any other hiring. Like you just have everything available right now. It's just, it's just unbelievable how much and you don't even know how much things you can use, you know, because you like every day there is something new you can use about it. You know, today for example, I uploaded the same data and ask hey. Because our biggest customer base is in California for example. And we, we have only one store in Universal Studio there. And I would go, can only imagine if I would have more stores in California. So and I'm asking Chad, listen, give me all the top malls based on my customer where I should open my stores.
- [06:14]
B
Wow, so that's smart.
- [06:16]
A
It gave me like literally like more by more and percentage of my customers and the radius of like 10, 20 miles. So you know, I mean you can go wrong with the such accurate data.
- [06:34]
B
Yeah, that is so smart because before when you opened a store, what was your process? Were you kind of guessing?
- [06:39]
A
I was guessing like you know, most of our customers are in urban places, you know, New York, Miami, Texas, la and I mean we're not far away. But I would not be able like to go and guess it like by zip codes, you know.
- [06:55]
B
Yeah, not as precise.
- [06:57]
A
Exactly. Now you like literally like can target your just upload the zip codes and put it in Facebook and just. Okay. You know, I want to advertise only in this zip code.
- [07:06]
B
Right.
- [07:06]
A
You know you're saving a lot of money probably.
- [07:09]
B
Yeah, for sure. You got separate locations though.
- [07:12]
A
Oh, we have like 1101.
- [07:14]
B
Okay. And you want to keep drawing.
- [07:17]
A
We're doing some optimization. So we see like you know, what works better for us. What less and but definitely, you know, California is one of our target places as I can see it in a database. You know. But we're expanding on marketplaces right now. Mostly we see like a very good results and online. Yes. And E commerce like Bloomingdale's, northstream, Aces and a few other big marketplaces that are are really showsing showing a very good great results right now. And the result there is no also overhead.
- [07:51]
B
Yeah. Because they already have the infrastructure. Right.
- [07:53]
A
You know, you just make a sale and you're fulfill it from your distribution center. Yeah, no, no overhead. Simple. You're paying them commission and it's a win win situation.
- [08:06]
B
For everyone, getting into those outlets must have been big for the business, right?
- [08:10]
A
Yeah, yeah. It's definitely like a game changer for us.
- [08:15]
B
You know, I'm sure they're strict with
- [08:16]
A
who they work with 100%, you know, but I think we're very unique in our niche, and they don't have many brands that are spiritual brands which had such a strong. Why, like, Carmine Luck. So I believe we have, like, a very strong advantage on most of the jewelry brands that sells on Nordstrom or Bloomingdale's.
- [08:37]
B
Yeah, yeah. I guess for people that don't know what the brand is about. Karma and luck. Could you explain why you started it in the Mission?
- [08:43]
A
Sure, sure. So, first of all, you know, I born in the Soviet Union, like, back in the days. And as a kid, I was like, seven years old, I immigrated with my family to Israel, where I grew up. And I lived most of my life there. And, you know, as a kid, I was explored, like, in a. Exposed to so many different cultures. Like, I literally was remembering myself living in a neighborhood, in a building, and I had Muslims friends and Christians friends and you playing with everyone around and then kids, like, from where you came from, Soviet Union, you know, like a lot of mixed cultures.
- [09:24]
B
Yeah.
- [09:25]
A
And growing around all these different, you know, cultures, especially in Israel, you know, Jews came from so many different countries. You know, everyone was bringing their food, their symbolic, you know, like, that's where I was first introduced, like, to the evil eye and Hamsa and all this symbolic symbols that were, you know, for me, it was like, as a kid, you know, from. In Russia, Ukraine, you know, it was Soviet Union. It was like something new. I didn't understand it. And late in the days, you know, I was starting traveling the world. I went to Far east as well, and very inspired by all the cultures, you know, and one of my, you know, dreams was always like, you know, to take all my travels and to be able to. To express and show other people, you know, and to be able to tell the stories from all my trips from the far corners of theirs, you know, like, from that people. I know most of the people, they have no opportunity to travel to these places. And I decided that I will build a brand that will be able to tell the story of all my trips, and I will be able to inspire people with true jewelry and home decorations from different places in the world, you know, and. And. And that's how Carmen came to life. You know, I wanted, like, really, like, to take the ownership of the red string bracelet, you know, people wearing red String bracelet all around the world. But no one really took ownership of that. And one of my goals was, like, really, like, to be the original karma and lock red string bracelet. You know, Mexicans, Russians, Kabbalah, Chinese, Hindus, people are wearing red string for protection.
- [11:35]
B
Yeah.
- [11:36]
A
They all have kind of the same idea behind the red string. So we started actually with the red string bracelet. That was our, like, the first signature product that we introduced. And it was a big success. It was a big success. I. I packaged it right. You know, as a story, as a book. And people love to gift a product like that to, you know, with meanings.
- [12:07]
B
Yeah.
- [12:09]
A
That's also how I was able to differentiate myself from anyone else, because we were basically not looking to sell jewelry. We're looking to sell, like, meanings, you know, like a product with meaning, which is. Makes a huge difference, you know, and bringing the why all the time to every aspect of the customer journey. For example, in our stores, we created, like, a ceremony after every sale where you put, like, all your products in a big singing bowl and we cleanse. And that's something that is, you know, customers are, like, very inspired.
- [12:52]
B
Yeah. The sound ball, right?
- [12:54]
A
Yeah, yeah, yeah, yeah. I think you've been in the store.
- [12:56]
B
Yeah, I got a bracelet. They put it in the sound bowl.
- [12:58]
A
Yeah, yeah. So what was your experience from it?
- [13:01]
B
Yeah, it was great. Well, that stood out to me. But also, you showed me this device where the whole Quran was on one of the pendants.
- [13:07]
A
Yeah. It's the nano chippa, basically.
- [13:09]
B
Yeah. That was crazy.
- [13:10]
A
Yes. It's not. We have it for all the religious for.
- [13:14]
B
Yeah. You have the Bible, too.
- [13:15]
A
We have the Bible and Torah. So you can basically, like, in a small nano chip, to put all the book and see it through the magnifying glasses, which is, like, unbelievable. Yeah.
- [13:29]
B
That's powerful. To have scripture with you.
- [13:31]
A
Yeah. Walking around like, you know, you can have a bracelet or a necklace with the full Quran or Torah or the Bible. It's impactful. It's unbelievable. You know, every word is there.
- [13:45]
B
That's crazy.
- [13:46]
A
Yes.
- [13:46]
B
Thousands of pages.
- [13:47]
A
You fit it all into only one company. They have the technology to literally do that.
- [13:53]
B
Wow.
- [13:53]
A
Yeah.
- [13:54]
B
Yeah. That's powerful. Yeah. I feel like you guys do things like that that make you stand out from everyone else.
- [14:00]
A
Yeah, 100%. We're trying, like, to bring product with meaning. Yeah. And to inspire people, like, live more meaningful life. To bring product with a. With a why.
- [14:11]
B
Yeah.
- [14:12]
A
And, you know, you can see it also through the packaging that we are doing and the whole experience from sales associates how they are introducing you to the product at the store as well. So definitely the focus is like, how we can bring more meaning and not just selling product.
- [14:33]
B
Yeah. That's how you stand out from the competition, right? Correct. Do you have a lot of competition in this space?
- [14:39]
A
I would not say that. We. You know, there's not many companies that sell us lifestyles, especially in the retail world. And seeing that we have any competition, we definitely. I think that. And that's. Whereas the vision of the company is to be like the Nike of the spiritual world. Because we see, you know, there is the spaces of the jewelry. It's a huge space, but there is no one that really focusing on spirituality.
- [15:08]
B
That's true.
- [15:08]
A
And, you know, we're trying to be like the Little Lemon, like 20 years ago for yoga.
- [15:14]
B
Yeah, that's a good point. Because there's a lot of people that sell crystals, but there's no kind of meaning other than that.
- [15:20]
A
Correct, Right. Yeah. And it's, you know, again, how you brand it and how you rub it. Yeah. Around, you know, don't sell jewelry. So energy.
- [15:28]
B
Right.
- [15:29]
A
Yeah.
- [15:29]
B
You had the crystal trees. I remember those. Those looked really cool.
- [15:33]
A
Yeah, that's actually like, the idea came from also one of my travels when there was no. No travel, no trees were sold in the United States. So we did a really, really amazing job with it and were able, like, really to put a lot of meaning behind this product. You know, it's like a feng shui tree of life product where, you know, we're guiding you, like where to put it in your house. And every stone has different meanings. We also have for each stone tree, which is also very meaningful product.
- [16:10]
B
Was that one of your top sellers, the tree?
- [16:13]
A
No. Jewelry is definitely. Yes, yes. But, you know, some places, treats are more during the holiday sales or of trees are very impactful.
- [16:26]
B
That makes sense.
- [16:27]
A
Yeah. Yeah.
- [16:28]
B
Wow.
- [16:28]
A
It's a very nice gift.
- [16:30]
B
Yeah. And you got a lot of stores in Vegas, right? That's a big hub for you guys.
- [16:34]
A
Yeah. I mean, this is where I started Vegas. That's where we started, and that's where I live. So I thought, look, Vegas will be a really nice place to start because there's tourists from all over the world. You can really quickly be able to identify who is your ideal customer and, you know, the feedbacks from the customers that you're getting here. It's like, if you go right now, people were, why didn't open a Venice Beach? Right. And it's more your demographic there and not Vegas. It's not the most like spiritual place. Right. Why to put in Vegas, we're not known for that.
- [17:14]
B
Correct.
- [17:15]
A
So. So, you know, but on the other end, you know, you can go wrong with so much traffic that comes to Vegas. And if you go open right now in places like Venice beach, it's. It's going to take like a while to build a brand awareness because there's
- [17:30]
B
a lot of similar sellers. Right, correct.
- [17:32]
A
And again it's, you know, it's a. All about also food traffic.
- [17:36]
B
Right.
- [17:36]
A
So you can go wrong with the food traffic even though the demographics is not necessarily there. But I believe that, you know, everyone wants and everyone needs something in their life, you know, that karma and luck provides. I believe that we have very big variety of product that eventually will speak to someone. You know, we have also one of the biggest, if not the biggest men's jewelry catalog in the market.
- [18:09]
B
Really?
- [18:09]
A
Yeah. So if you in the malls today or anywhere, you know, there is no really places to buy men's jewelry. And we have like a whole world.
- [18:20]
B
Yeah.
- [18:20]
A
Are divided by, you know, men's and women's. So we definitely have a very big upside by being a strong spiritual man. A jewelry brand.
- [18:35]
B
I remember that when I went to the Venetian store, half of it was male.
- [18:39]
A
Yeah, yeah, yeah, yeah. And I think the male segment overall is growing very fast.
- [18:46]
B
Oh really?
- [18:46]
A
Yeah.
- [18:47]
B
Guys are buying jewelry now.
- [18:48]
A
Yeah. Men sort of. Either men's. We noticing that a lot of women's buy for their man's like, you know, so it's you know, either or, you know. But again, men's are wearing much more accessories and jewelry than before.
- [19:07]
B
I wonder why that is.
- [19:08]
A
That's interesting. I mean, you know, men's are more stylish. Yeah, yeah.
- [19:14]
B
Like, you know, look at you, you got like 10 on there.
- [19:16]
A
That looks like a gypsy.
- [19:18]
B
Men care more about their appearance these days, I think.
- [19:21]
A
Correct, correct.
- [19:22]
B
Yeah, yeah. Especially the younger guys.
- [19:25]
A
You know, as much as you have more single mans in the world. Right. It was a little more like trendy. Yeah, I believe that's the trend right now. Right.
- [19:33]
B
There's a loneliness epidemic right now, guys. It's bad. Average male has two friends.
- [19:38]
A
Exactly.
- [19:38]
B
Isn't that crazy?
- [19:39]
A
So you know, they are more in self care.
- [19:42]
B
Yeah, that makes sense. Why'd you move to Vegas? Did you come to Vegas from Israel?
- [19:47]
A
I actually had. I was few times here, I was traveling here. I had a few friends here, you know, that were doing business here. I was coming from online gaming world. Totally different world. And I was doing here a world championship in the in with ESPN at the Hilton, which is Westgate today. And you know, I love the city. And I said, you know, why not? You know, let's, let's try it one more time. I used to live in New York. Yeah. Back in the early 20s. And then I went back to Israel and then said, you know, let's give it another shot. And that's how I came here.
- [20:29]
B
Wow.
- [20:30]
A
Yeah.
- [20:30]
B
Yeah, I grew up in Jersey. I, I like Vegas a lot though.
- [20:34]
A
A very convenient place.
- [20:35]
B
Yeah, you could get to LA quick. Food's pretty good, Business is pretty good here.
- [20:40]
A
This is like my balance place, you know, Like I feel like I'm, you know, when I'm traveling and I travel a lot, so when I come here, I feel like, you know, everything is like so quiet.
- [20:49]
B
Yeah. Yeah. If you're off the strip, right.
- [20:51]
A
No trophi and you know, 10, 15 minutes. You in any place in Vegas.
- [20:57]
B
Yeah.
- [20:58]
A
The roads, the infrastructures are very good. So, you know, and, and the cost of living is also very reasonable compared to other places.
- [21:06]
B
Agreed. Yeah. I was just in LA and it was an hour to get everywhere.
- [21:10]
A
Yeah. That's like very frustrating. Yeah.
- [21:12]
B
Sucked bumper to bumper. I can't do that, man.
- [21:15]
A
No, no. This is crazy.
- [21:16]
B
Yeah. How is it in Israel? Is pretty bad traffic over there.
- [21:20]
A
Yeah. But you know, it's, it's small place, you know, so it's like also. But, but the traffic is really bad.
- [21:26]
B
Yeah, I've never been there. Yeah, I want to go.
- [21:29]
A
You should go visit.
- [21:30]
B
Yeah, yeah.
- [21:31]
A
Very nice place.
- [21:32]
B
Yeah. A lot of business out there. Right.
- [21:34]
A
It's a very, very, very competitive place, but a lot of very successful huge tech companies. And you know, there is a big competition in a small area, but there is more, more NASDAQ traded companies in Israel than all Europe combined together.
- [21:58]
B
Wow.
- [21:59]
A
Yeah.
- [21:59]
B
That's crazy. Yeah.
- [22:00]
A
This is like a insane number, you know. Wow.
- [22:04]
B
So you grew up there, so you got a lot of inspiration from.
- [22:07]
A
Yes.
- [22:08]
B
All the entrepreneurs, you saw, the business people.
- [22:10]
A
It was like, you know, you know, all your friends, they're all startup guys, they're all on like startup companies and all the, you know, every coffee, going with the friends, all the conversation is all about like to fund something, you know, to raise money, like to create something, you know. So like the, the natural conversation between people in Tel Aviv is, is constantly about like developing something, you know, like come with innovation.
- [22:42]
B
That's an interesting culture, right?
- [22:43]
A
Yeah, like it's, it's, it's a pure like non stop innovation. Innovation. Innovation. Like what we can do different.
- [22:50]
B
Yeah.
- [22:50]
A
What we can make like something that will change the game.
- [22:53]
B
You know, I would love the, love to be in an environment like that. You know, growing up here, it was the opposite. People made fun of you if you did entrepreneurship.
- [23:02]
A
Totally.
- [23:02]
B
Yeah. You got bullied.
- [23:03]
A
Yeah. I think the reality there is a little bit different, you know? Yeah. And that's what push everyone to that place like that they want to prove themselves.
- [23:11]
B
Right, Right. Because it's a small country.
- [23:14]
A
That's what people are really appreciating in Israel. You know, when you're succeeding and you are doing, you know, and it's like the Jewish tradition, you know, like your mom and dad wants you to be their doctor or, or a lawyer. But today I think there's much more startup and founders there.
- [23:35]
B
Yeah.
- [23:36]
A
You know, all the cyber security is huge, which is everything is coming like people are coming very innovated from the military. Right.
- [23:47]
B
That's going to be a big market. Cyber security.
- [23:49]
A
Yeah.
- [23:50]
B
Because the future is going to be all, you know, cyber hacks, cyber attacks. That makes sense. Yeah. Doctors and lawyers, I mean with AI will be replaced.
- [24:00]
A
Yeah.
- [24:01]
B
Crazy, right?
- [24:02]
A
That's crazy.
- [24:03]
B
For my contracts, before I send it to my lawyer, I actually put them in AI first and then I ask it for recommendations, redline changes and then I send it to my lawyer after.
- [24:15]
A
No, listen, there is nothing can compete with AI.
- [24:19]
B
Yeah. It's really good. Even my blood work put it in AI. It's better than most doctors.
- [24:26]
A
Listen, I believe like in a year or two you don't need like to go to any lab. It's going to be all AI based.
- [24:33]
B
Yeah.
- [24:35]
A
Some of the surgery. I'm following a couple of big AI within health medical industry.
- [24:42]
B
Right.
- [24:42]
A
It's crazy.
- [24:43]
B
The nanobot surgery, Right?
- [24:44]
A
Yeah. I mean you're gonna have like, you know, you're gonna come and you're gonna make right now blood work. You know, it's gonna result. It's gonna come like in a minute.
- [24:51]
B
Holy crap.
- [24:52]
A
Now you wait a week, just. And it's also going to be very cost effective.
- [24:57]
B
Yeah.
- [24:57]
A
And many of the surgeries, even a dentist, you know, all this kind of work is going to be much more accurate and detailed and cost effective.
- [25:10]
B
I just went to my dentist a few days ago. They use AI really to look at the scans. Wow. Yeah. Because the human eye can identify the small cavities and the infections in the gum, but AI can. Wow. Yeah.
- [25:24]
A
That's cool.
- [25:24]
B
Yeah. Holistic dentist, biological dentist.
- [25:28]
A
That's nice. Looking into the town.
- [25:29]
B
Yeah.
- [25:30]
A
It's funny Four seasons yesterday I went to do my. Every six months, I'm doing my cleaning.
- [25:36]
B
Oh, yeah.
- [25:37]
A
And. And I was looking on the screen and I was thinking about AI as well, you know.
- [25:41]
B
Oh, he's not using AI yet.
- [25:43]
A
I don't think that I. I didn't see anything that was AI.
- [25:46]
B
You need a new dentist.
- [25:47]
A
Yeah, most likely. But I'm guessing, I don't think many yet are using AI.
- [25:54]
B
No, they're called biological dentists. They're very rare.
- [25:56]
A
I think it's like really, like in the baby steps.
- [26:00]
B
Yeah. But mad crazy times right now because a lot of people are in college right now learning these skills.
- [26:05]
A
That's.
- [26:06]
B
I worry about them.
- [26:07]
A
I'm right now taking a couple of courses of AI.
- [26:09]
B
Really?
- [26:10]
A
Yes. It's. It's just like you have to be like, everything is called with cloud right now.
- [26:15]
B
I love Claude.
- [26:16]
A
Yeah.
- [26:16]
B
Claude Bot or Claude Cloud. Claudia.
- [26:19]
A
And. And open clone. All this technologies right now that are literally can replace you. You know, they're just learning your behavior and you can just do AI agent.
- [26:31]
B
Right?
- [26:32]
A
Yeah. It's just unbelievable.
- [26:33]
B
Yeah. I have a AI agent in my email.
- [26:36]
A
Yeah.
- [26:37]
B
It's insane.
- [26:38]
A
That's crazy.
- [26:38]
B
Any spammy emails, it moves to my spam. If it's important, it'll forward it to me. And if it can answer most of them, we'll do that.
- [26:47]
A
That's sick.
- [26:48]
B
Yeah, yeah. Because emails. You probably spend a couple hours a day on your email. Right?
- [26:52]
A
Yeah. Listen, I just don't know what will happen, like, to the labor and this is like a big, big concern, you know, I just feel like everyone is replaceable today by AI, you know?
- [27:04]
B
Yeah. I mean, when you check out at the grocery store now, it's AI fasting.
- [27:09]
A
Like, you know, we're sharing, like, billing with Amazon and we hear like, Amazon is like laying off so many people.
- [27:15]
B
Yeah. 16,000 last week.
- [27:17]
A
Yes. Like, so many people are. And just feels like it's just only the beginning, you know?
- [27:22]
B
Yeah.
- [27:23]
A
It's going to happen everywhere and scary. They're opening like AI hotels. They're opening like so many different things and you just don't know. Like, you know, I'm even a McDonald's today, you know, I don't need like, you know, cashiers just put digital screens, like, everywhere. Right.
- [27:40]
B
Yeah.
- [27:40]
A
Eventually you can replace like, also people that will do the actual, you know, cooking. Yeah, yeah.
- [27:46]
B
The chef.
- [27:47]
A
I don't think you need to. It's not rocket science to make a hamburger. You know, it's pretty easy. It's pretty easy.
- [27:52]
B
Yeah.
- [27:52]
A
So and everyone is trying to cut their cost.
- [27:56]
B
So I was in an Uber on the way home yesterday and he said when he first started Uber driving 13 years ago, he was getting 80% and Uber would take 20.
- [28:06]
A
Yeah.
- [28:06]
B
Now he's getting 30%. Ubers take 70%. And the Uber CEO just went on Diary of a CEO and said they're going to replace all the drivers with AI eventually.
- [28:18]
A
Yeah. I mean, this is a very long time ago. They're planning to do it.
- [28:21]
B
Yeah.
- [28:21]
A
I mean, this is. The stock is all based on their future.
- [28:25]
B
Right. Same with Tesla. Tesla's going to start doing it.
- [28:28]
A
Mobile taxi.
- [28:29]
B
Waymo.
- [28:29]
A
Yeah.
- [28:30]
B
No more drivers in a few years.
- [28:32]
A
Yeah. So I'm just like, you know, no one is really talking about it, but it feels like it's going to be like a huge wave and. And no one is also providing any solutions to this.
- [28:45]
B
I don't think you could stop it.
- [28:47]
A
I mean, it's most likely gonna go all to where the government is gonna give everyone in the country like a minimum payment.
- [28:54]
B
Right.
- [28:54]
A
And there is not gonna be. It's like Elon Musk is saying, you know, to work, it's going to be an option.
- [29:00]
B
Crazy, right? Because we derive a lot of our purpose from work.
- [29:04]
A
So I mean, it's going to be literally an option. You want to work, you're going to work. If not, you're gonna get like $3,000 a month. You cover your base expenses.
- [29:15]
B
I couldn't do it. There's no purpose if you're just collecting free money in life.
- [29:20]
A
No. For sure.
- [29:21]
B
I can't live like that. You need to have meaning.
- [29:23]
A
You know, we're definitely gonna have like a very interesting next five years. Yeah. To see how is it going to all play.
- [29:30]
B
Yeah. They'll probably. The government might have to step in and say you can only fire a certain amount of people. Right. Something like that.
- [29:36]
A
And my opinion that if you fire a person and you're going to replace that person with AI, most likely you're going to pay like a very high taxes. And from these high taxes you will probably. They're gonna pay these people like, you know, some minimum wages and stuff like that.
- [29:52]
B
Right. To offset it. Yeah, yeah.
- [29:54]
A
I mean, if tomorrow they're gonna release the robots that are gonna replace people. Right. Okay. I want like to have buy 5 robots to my factory or my warehouse. Right. So I only like to pick 150,000 or 100% taxes, you know? Right.
- [30:13]
B
Like a tariff, almost tariff.
- [30:14]
A
Like on. On each robot.
- [30:15]
B
Yeah, that makes sense. Do you have any Robots in your factory right now? No, all human.
- [30:20]
A
All human.
- [30:20]
B
Wow.
- [30:21]
A
Yes. Yeah, we're exploring. There is right now like amazing 3 PL companies like in California, that's all robotics. Like, you know, I don't really need big manpower.
- [30:33]
B
Yeah, yeah. For a company like yours, it's probably one of the later ones to replace with robots. Right.
- [30:40]
A
Because.
- [30:40]
B
Very spiritual company.
- [30:41]
A
Yeah. No, I mean, listen, in sales you cannot put, you know, robots in, in the stores yet. Yeah, maybe in 10 years from now it definitely will happen.
- [30:52]
B
Maybe when people are more used to it. Yeah.
- [30:54]
A
If it's going to happen, I believe there you don't need real stores anymore. You know, if you're going to work with robots and you're going to go buy jeweler robots, then, you know, it's a new reality.
- [31:08]
B
Crazy times. We're in crazy times. Like, very interesting.
- [31:12]
A
You know, it's just how you adapt to this. It's all about then you don't know how fast things are happening. You know, sometimes it's so fast that you don't even understand, like, because AI is like, they're releasing like new versions, like literally like every week there's something new. You just can't keep up.
- [31:30]
B
I know there's. There's a new one called Claude Bot right now. I don't know if you've seen that one, but it is crazy.
- [31:36]
A
Sometimes you just prefer not to see. No.
- [31:39]
B
Yeah, that one is not.
- [31:40]
A
Things are, you know, overwhelming sometimes, you know?
- [31:43]
B
Yeah, yeah, it's nuts. I, I wonder because I'm. I'm gonna have kids. I wonder what advice I'm gonna give them to deal with all this.
- [31:54]
A
I don't think we have yet, like any advice to give them, you know?
- [31:58]
B
Yeah, we don't know.
- [31:59]
A
You know, just to go and live in some farm and away from all the technology that is taking over the world. Right. Yeah, it's, it's. There's two sides, you know. From one side it makes everything much more efficient. Right. On the other side, it makes the life not interesting anymore, you know?
- [32:20]
B
Right.
- [32:20]
A
And not exciting. Like what makes you look excited like before, you know, to do something. When you are doing a research. Right. And you're getting to do some data by yourself now. Just pushing a button and you're getting everything you want instantly. Instantly. Any question. You know, I don't even type anymore emails. I just talk to the microphone. Okay. And it's. Right. The email by itself.
- [32:45]
B
Wow, that's crazy.
- [32:47]
A
I just don't type anymore.
- [32:49]
B
Wow, so you're doing voice chat.
- [32:51]
A
Yeah. No, I mean I'm talking to my email and it's just correcting the email and it's also writing the email.
- [32:58]
B
Wow. I need to do that because typing takes too long.
- [33:02]
A
Yeah. I mean just, you know, hey, you know what? Like tell him that this is what he needs, you know and, and you see how is it? It's much better than me, you know.
- [33:11]
B
Yeah.
- [33:11]
A
That's crazy. Why? To type,
- [33:15]
B
man. Anything else? Any future plans for the stores? Anything exciting coming up for you?
- [33:22]
A
You just, you know, keep, keep developing like a lot of new collections, you know like doing some, a lot of very exciting rebranding. Strategic. Also working on some partnerships looking to expand to Mexico right now.
- [33:40]
B
Nice.
- [33:41]
A
And going right now to Hong Kong also to explore distribution centers to advertise in the Far east countries. We have a lot of customers in Singapore, Malaysia, Hong Kong. It's a big market as well. So we definitely.