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  • I'll have you played a bit of parka.

  • Uh, something you do have.

  • Seriously?

  • Not really.

  • Like, I usually just have a few beers and play.

  • Uh, you know, like, I know how to play.

  • Yeah, Robin's out like, particularly good, but yeah, um, that's where all the table not know the high roller table.

  • Coleman.

  • So before we get into any of the trading stuff, let's chat a bit about what you were doing before hand leading up to that.

  • Because I know some of things you were doing where I think very interesting.

  • And it says a lot about your character.

  • I don't recall if it was you were running the yogurt shop before year, So I ran. 00:00:55.580 --> 00:01:0.030 I guess toe everyone so out of high school, actually wanted to be a doctor, right? 00:01:0.270 --> 00:01:1.490 What sort of doctor? 00:01:1.630 --> 00:01:2.910 I hadn't really decided. 00:01:2.910 --> 00:01:10.290 I just wanted to do medicine is something that interested May and I got, like, the marks that I needed to in, like this one aspect.

  • But then the ah, like university entrance thing.

  • I didn't get in, like with the I think it's called a you Matt or something.

  • I just just missed out on getting the marks there.

  • So I went toe university and some like, I guess, separate course.

  • I think it was like diagnostic radiography or something like that.

  • And then realize that had no clue.

  • Look what physics waas.

  • So I dropped out of that within, like, four weeks and then Ah, I actually started working at the casino at Star City.

  • Yeah, um and then I figured out that waking up to a M driving into the casino toe work for eight hours wasn't my thing either.

  • So was that what shift was it?

  • Yeah, s 04 I am to midday was my shift, and we're into midday rush. 00:01:58.890 --> 00:02:1.720 If you don't have to wake up in, like, 2 a.m. And then I'd get home. 00:02:1.720 --> 00:02:6.400 Like having micro sleeps behind the well heeled almost on, then sleep. 00:02:6.400 --> 00:02:7.770 And, you know, it was just really bad. 00:02:7.770 --> 00:02:11.690 Like special is a 19 18 year old like you have no social life.

  • So yeah, um, get that away.

  • And then I was selling cars for a bit, and then I got a job, but like a that's what you call a boutique stockbroking firm.

  • Um, did that for a little while.

  • And then once I quit there, I started a business with one of my mates.

  • Um, it was like a We just start our own frozen yogurt shop.

  • So we thought that might be the next big thing that turned out to be a fad.

  • Yeah.

  • Just going back to the dealing at the roulette table.

  • Yeah.

  • What was that like, like, was it bit of an eye opener, I imagine.

  • Like those people who work behind the at the tables in the casinos, you know, they must say some shit.

  • Yeah.

  • I mean, you know, it's it's kind of depressing because no one's winning, right?

  • You like sweeping away of runs chips, and they just, like, hate you.

  • Yeah. 00:02:59.840 --> 00:03:2.600 So, yeah, it wasn't like the greatest atmosphere. 00:03:2.600 --> 00:03:5.190 Plus, you know, there's no clocks. 00:03:5.190 --> 00:03:6.480 You don't really know what's going on. 00:03:6.530 --> 00:03:16.410 The only good thing about bizarre ever like you worked for one hour and then you got, like, 15 minutes a break, and I was free food in there, Like back of house area.

  • So that was one of the perks, but right, Yeah.

  • Once the food gets old, Yeah.

  • Yeah, it's It's good for about a week.

  • Yeah, you're Cohen.

  • So after that, you went thio selling cars, selling cars?

  • Yeah.

  • How did that work?

  • We car salesman, and we don't know anything else.

  • Yeah, his car salesman.

  • So I kind of had a have always had an interesting cars.

  • I used to go with my dad to like Battiston got all those races and stuff.

  • So I guess selling cause, like, made sense to me.

  • Um, I was pretty out of it.

  • Yeah, I was pretty good at it.

  • Like it's selling stuff, huh?

  • What's that?

  • Cars were selling Are selling Kay across a jape and Dodge, huh? 00:03:57.220 --> 00:04:0.470 I guess back in those days, selling case wasn't the easiest Sell. 00:04:0.870 --> 00:04:3.250 I think I got a bit of a better reputation now. 00:04:3.250 --> 00:04:7.220 The Yeah, and having to do that for think was about a year. 00:04:7.350 --> 00:04:8.410 Maybe I can. 00:04:8.420 --> 00:04:10.350 Yet And then she went from there.

  • And you did the frozen yogurt venture.

  • Ah, yeah, a little bit down the track, so I did the frozen yogurt.

  • I think I was, like, 23 at the time.

  • Um, we did that for 15 months or so.

  • Yeah, well, that's a bit about that.

  • Like, how did that come about?

  • Because, I mean, it's it's pretty balls, Ito.

  • Just decide that you know, you and you made it going to get some cash together and, yeah, open an actual shop like that has some riel overheads and some real expenses that you've got to cover.

  • And yeah, you know, it's it's a pretty significant risk.

  • Yeah, I guess we're a little bit naive.

  • Like thinking.

  • Um, yeah, it's retail like everyone conduit and way Probably we didn't really understand. 00:04:49.890 --> 00:05:1.080 Like, how horrible retail as, ah, an industry is in a stroke like there's plenty of competition possible are dealing in something that's like so neesh given that it's dessert. 00:05:1.540 --> 00:05:5.880 Um, yeah, you don't have dessert every single day. 00:05:5.890 --> 00:05:6.460 Do you know what I mean? 00:05:6.460 --> 00:05:9.260 So you're dealing, like, trying to get people in. 00:05:9.700 --> 00:05:17.370 Um, it is difficult because even if you go out for dinner or something, like, you're not always gonna have dessert afterwards.

  • It's pretty optional.

  • Yeah, and it's a little bit seasonal, too.

  • Like you imagine some of the ice cream shops down on the course.

  • So here, probably doing it tough during the way.

  • Yeah.

  • Another like we'll face without the challenges as well, Like the So we did it?

  • Well, no, Just down the South Coast and, ah, they're redoing the whole, like main strip of one.

  • Long said there was a lot of roadworks, and basically they tore off the road in front of access was difficult.

  • Yeah, just made a bad situation worse, compensated in any way for that.

  • Or it's just not that their pictures like it's for the future.

  • You're gonna benefit in the long. 00:05:59.980 --> 00:06:1.180 Okay, B A. 00:06:1.180 --> 00:06:2.130 We didn't hang around too. 00:06:3.660 --> 00:06:4.750 So experience it. 00:06:4.760 --> 00:06:7.840 What were you doing in the business like you? 00:06:7.970 --> 00:06:10.020 So serving customers doing a lot.

  • So I may might make we worked.

  • We split the shift into into so it work.

  • The shot would be open for 12 hours every single day.

  • So we do 66 hours h Monday through Sunday.

  • Um, and yet was just everything.

  • So preparing the yoga, cutting up the toppings, and even on the business side of things like figuring out that stuff.

  • So it was like, I don't regret doing it is pretty rewarding.

  • Like you learn quickly.

  • Um, we want like, uh, I think it's business of the year or something in war.

  • Long.

  • Alright, that's pretty cool.

  • Yeah.

  • So it was a good thing, right?

  • Like we had to figure out everything because it wasn't like we took on a franchise.

  • We just started our own brand, and yeah, it's kind of learnt on the go.

  • Yeah.

  • Yeah.

  • And why Frozen yogurt? 00:06:59.720 --> 00:07:1.820 Um, what was it at the time? 00:07:1.820 --> 00:07:8.150 Like I know, I think that was really taking off, and we thought we're actually like when you went traveling over to the U. 00:07:8.150 --> 00:07:8.650 S. 00:07:9.080 --> 00:07:13.750 Um, to see if we could, like, think of any concepts over there that we could bring to Australia.

  • Yeah, but then well, I kind of got sidetracked, like going out and partying instead of actually like doing any research.

  • So we kind of already had the yogurt idea to begin with, and then we're like, Okay, we'll just do that.

  • Yeah, because you didn't say anything else.

  • Yeah.

  • Okay.

  • Now it's funny how, like, sort of there are certain foods and sometimes certain desserts which just become like the in thing for you.

  • 12 months, I was definitely a fat black.

  • I think our shop is still in operation down there.

  • Um and it's the only one there.

  • So I think at one point there about four frozen yogurt shops in bowling gong on Ellis is the only one that made it through s o.

  • What we did well was we made sure, like we're off. 00:07:58.590 --> 00:08:4.330 We weren't, like, contracted to like like a Westfield or a J P t group type thing. 00:08:4.710 --> 00:08:10.530 So we were just outside the kind of shopping precinct, so that meant that out rent was substantially less.

  • And that's obviously the biggest, the biggest overhead.

  • So we're Yeah, the rent wasn't Burnham's burdensome.

  • And that's kind of what gave us the ability to have that longevity, I suppose.

  • And did you have to lock in a lace for a certain amount of time?

  • Usually, commercial leases usually run for a couple years.

  • Don't know.

  • Yeah, I think we had a three year lease, and maybe the last year is an option.

  • So we structured that pretty well.

  • I thought which was good and we negotiated pretty hard for, like, favorable terms for us.

  • Yeah, that's pretty cool, man.

  • It's a big thing to take on, like, always, sort of had a bit of respect for anyone who does that, because it's not like just standing on line business where it's like that.

  • Your biggest cost is Web hosting in your name and a few other bits wrong. 00:08:58.750 --> 00:09:3.770 There's not, like huge ramifications, yes, but in that environment it can get pretty nasty. 00:09:3.780 --> 00:09:14.350 Assed were saying with liking retail food group and some of those franchises that it just going belly up and it leaves people in some serious strife.

  • So yeah, well, lucky.

  • Like we just worked hard, paid off the debt, um, and then sold the business once we saw, like, more entrance coming in.

  • So just like we need a poor shoot.

  • Yeah.

  • So why did you sell the business?

  • Because you fear of competition, competition.

  • And also, we're just getting over it like we're literally working seven days a week.

  • You like no breaks.

  • I think in one year I probably have black five days off for something.

  • Um, and I was studying university four times.

  • Should Erica did you have any stuff?

  • No.

  • We're effectively working for free.

  • Like we're working just to pale.

  • Yeah, the debt.

  • Yeah.

  • And, you know, we just we got out.

  • I think I had, like, negative 500 bucks to my name at the end of that, okay?

  • Or guests, you know, over. 00:09:59.400 --> 00:10:2.310 No, let's At least you weren't under a rock. 00:10:2.320 --> 00:10:4.740 You excited off your debts and all that. 00:10:5.940 --> 00:10:9.820 And so what about the sale of the business, like, was that a win view? 00:10:9.820 --> 00:10:16.370 Was that just so that that basically just paid down like the lost remainder of the debt?

  • Um and then So we we actually, we got a broker Thio to try and sell the business.

  • And then we are even, like all this guy's like not doing anything, just like waiting for someone to walk in and buy it.

  • And we had we paid, like, this listing fee, and then I was gonna be, like, a 10% commission or something.

  • And then I'm like, I'll screw this sec.

  • So I put advertising on gum tree myself, and I sold it, like with my mate.

  • I sold it thio, like, to this guy, and then we can we just left.

  • And then the brokers I passing us because the contractor was saying, you know, no matter how you sell the bit, since he's still only like a commission.

  • Yeah, and I was about just robbed me, right? 00:11:0.080 --> 00:11:3.050 Rob me, like up the rural I like completely, sir. 00:11:3.860 --> 00:11:4.890 I didn't get paid. 00:11:5.340 --> 00:11:10.540 I negotiated it down like I'm like, Oh, the listing favorite paid.

  • That's part of your commission.

  • And then we'll just top you up to 10% or whatever it waas.

  • At that point, we'll just psycho like we're just happy to have this behind us is always, like, hush money.

  • Just Yeah, no, I know the feeling.

  • And then So what happened from there?

  • So he sold up the the frozen yogurt business.

  • What was kind of that the next step after them.

  • So then I got a job, um, working at a company called Wholesale Investor.

  • So that was basically you get sort of pre I p o, um, Predappio deals.

  • And I guess, present their company would present to, like, a bunch of high net worth or sophisticated investors.

  • So I was just doing business development work for them.

  • So that's what you were doing?

  • Yep. 00:11:53.900 --> 00:12:0.050 See, you were on the phone's just ringing up, as was probably Maury male bass and meetings than, like, phone work. 00:12:0.460 --> 00:12:3.700 Yeah, it wasn't like I really like high pressure sales top thing. 00:12:3.740 --> 00:12:5.750 Yeah, Um, say I did that for a bit. 00:12:5.750 --> 00:12:11.500 And then at that point in time, I was, like, getting ready to go overseas to do a year of exchange.