Building Wealth with AI - Investing Strategies and Insights from Chris Wise

The whole purpose of technology is really to solve these inefficiencies. I'm constantly on the lookout for some kind of inefficiency. There's never a perfect model. There's never a perfect company. There's always going to be kind of opportunity loss. And so my task is to find it and see if we can actually address it and hopefully solve it, you know, to minimize as many inefficiencies as we can. The freedom of of scaling these companies and exiting, you learn more every time. And so what you think was a a genius idea. When you hand off that company, the person who's purchasing that can't comprehend it or needs your level of understanding to operate it. You're not really out. You're you're still working in that company, that business. >> Hi, my name is Demetri Bonichi and I'm a content creator, agency owner, and AI enthusiast. You're listening to

the AI agents podcast brought to you by Jot Form and featuring our very own CEO and founder, Idkin Tank. This is the show where artificial intelligence meets innovation, productivity, and the tools shaping the future of work. Enjoy the show. Hello and welcome back to another episode of the AI Agents podcast. Here we have Chris Wise from Wise Capital. How are you doing, Chris? >> Doing well. Thank you for having me. So, I I'm really excited to chat with you on this one because we've had a lot of people talk about AI and their products, but what is really interesting to me and I do talk a lot about on this podcast is essentially how people like myself as business owners are able to save time and not have to hire as much through building out AI agents and automation workflows. So, I'm really excited to

chat through your journey because that's pretty much the focus of what we're going to go through in this episode. um give us a little bit of a rundown of how you got to where you're at at Wise Capital and uh what necessarily got you into uh what you're doing to save so much time and money on uh employment with this uh I guess string of different workflows that you've put together. >> Yeah, absolutely. So, um you know, it started for me uh with a law firm. I started a law firm back in 2020. Um and as I scaled that firm, you know, a big portion of of evaluating how to scale uh frankly as fast as we could but in a way that made sense as well, you know, both from a business perspective and a financial perspective was looking at um you know different

automations uh and specifically you know conversational AI. And so for us, you know, it it started or for me rather, it started with um looking into really what conversational AI was, how was it developed, how was it programmed, you know, how do you get to that that scale? Um and you know that was back in 2020, 2021 when I first started that and that was uh not a time that it was heavily talked about frankly. um you know it some people kind of knew but yeah it just wasn't widely known as it is today. Um, and so as we scaled that, uh, you know, I say we, just the team I've built over there at at Wise and Associates, the law firm. Um, you know, I wanted to find a way, if you don't know, uh, lawyers are are probably one of the worst sales

people out there in the world. Uh and so I I wanted to get them uh you know exposure to a different avenue where somebody can or a program can take over the sales side, the invoicing side, the um the marketing side, retargeting with ads, all that. And so that led me down the path of this conversational AI. And so as we were starting to play with it and there's long stories about how I I got started frankly buying books reading trying to comprehend how that works and then building small little tools um and just goofball games to get the experience and then with that learn that you can build these these machine learn programs and uh AI tools fairly quickly. Um and so you know from there um you know I started marketing sales agency exited that then started uh Wise Capital which is why

we're here today on the property tech space and that is a property tech company. You know we have a lot of different AI tools that we've built from evaluating properties to um maintenance predictive models all the way to conversational AI that really takes the place of the property manager. Not 100% but but probably 70 to 80% of their tasks can be managed by that versus actually have you know that physical person knocking on doors trying to collect you know money order checks or something of that nature. you can really automate a lot of this um and and keep those conversations going through that conversational AI aspect uh and including maintenance requests and then you know how do you get everyone to be on the same page with the same amount of information at the same time uh and you can do that through that conversational

AI you know piece >> and when you got started with this what tools were you originally using back in I mean early 2020s at this point it's weird to say early 2020s by the way Yeah, I know. It is kind of weird. >> Um, you know, it it wasn't widely known and it really wasn't widely available. Um, you know, there was no maybe maybe there was chat GBT. I don't think there was at that point and if it was, then it wasn't widely known. um you know we started with uh agency like firms and so it it really started with how do you how do you use programmatic advertising and that kind of spurred into hey there's this small company that's starting to work on this conversational AI piece but no one really knows what it is um and it wasn't you know sophisticated enough

to be on a platform like HubSpot or or something to that effect that looks like you know HubSpot essentially um and so we we've reached out to them kind of worked with them directly on, hey, if we can build out this tech together, then we can, you know, you guys have the platform, you know, that lookalike of HubSpot, you know, when it comes to just the the the uh user friendliness of it, and we have the code for the conversational piece. And so, you know, if we team up here, then I don't have to build out a platform. Uh, and frankly, I didn't want to or had the time to do that. and you know vice versa they wanted to use the tech without having to build that out even though they had the platform. >> Uh and so yeah we we entered into agreement

we don't talk about the coming they had expanded significantly at this point uh and so and then we branched off and started building our own our own tech our own platform at this point now um to to where it runs just like I was telling you. >> Interesting. So my my question for that is um you told me before we started getting on the actual recording that you have uh you work uh you you've had a that law firm and it was at about 50 people. Where are you at now with the amount of employees? And how practically did you go from where you were to where you're at now by utilizing the different AI tools and things that you've built out internally? because I find that very intriguing that you're like basically building your own tech. >> Yeah. Yeah. You know, uh the tech

that's built is to fill a specific task or role, right? And so it's not so much um to replace people, but it is to offer those efficiencies. You know, our task is to find the inefficiencies and then insert, you know, the technology to to fill that gap. And so, I mean, we really scaled down. we were close to about 50 like you were saying and and we've scaled to seven. Um now in the in the midst of that we did sell off offices and things of that nature. So that did play a little bit of a role to it but uh predominantly it came with you know we didn't need sales reps because this took over the sales cycle. Um we didn't need someone in marketing to follow up with you know how are the advert you know how are these advertisements going? Is there

good ROI? Are we hitting the metrics that we need to hit between impressions and and actual clicks and then actual conversions from those clicks and going down the funnel? We could build something that did it for us and then it's just looking at a report and essentially color coding the report to ensure if it is outside of our metrics that it stands out to us just so we don't get complacent. >> Okay. So that that that gives a good picture of it. So basically sales marketing. I do feel like that's a common thing people are saying that might end up going away. So um good good thing to note here. But how did you I mean did you do this yourself? Did you bring in tech people to help you with this? Like what what did you do from that standpoint? >> Yeah. Yeah. So

I really did uh start this myself. Uh we I you know that's nothing is ever done by one person. I think there's always a team, there's always mentors. Um, at the time I had a CMO uh who was pushing really hard on companies uh like go high level is a good example. they're uh well known in this space um who utilize uh conversational AI and and that uh type of technology and and so you know he was um suggesting that avenue we were trying to figure out the most cost effective way to do it um and and frankly to understand how this is built and how it works you have to have some kind of coding background or be willing to to learn that you know the different types of code. And so I really did. I went to a uh library, bought up a

ton of of uh different coding books as as uh silly as it sounds. I mean even starting with like you know Python for dummies type stuff just to really understand the basics and then as you understand those uh scaling and buying more sophisticated materials so that you can understand really how this operates and they all you know all all different types of code whether it's C++ or or Python or you know the hundred others really there's not a ton of differences yes you know I understand there there are differences is and how they operate, how they're built out, but from a functionality standpoint and kind of how the code is read, it it really is not that different. And so if you have a good um kind of baseline knowledge, you can really expand on this. And so that's how I got started. Started playing

little games um and building little little games just to kind of test it out. And then from there uh as we got into a much much more sophisticated model in what we were building if we found any kind of errors or you know we were having some kind of problem where it just wasn't processing the way that we needed it to if we understood where that that problem you know was then we could easily go and hire contractors to help solve that problem and and we were very specific as to you know this is the four lines of code out of you the 20,000 lines of code that are the problem. I can't figure it out. Help me solve this. And um you know, we've used companies in the past like um Upwork is a is an example of that um where you can hire

contractors to help you solve those kind of specific niche problems. >> So my original or my my first thought on that is that wow, that's very impressive that you basically learned this type of stuff yourself. How how long did it take for you to go from learning to implementation inside of your business that saw practical uh results? >> Um, you know, it's a little different for me. It's a little different for me because it's a little easier in the sense of that I own the companies and so I, you know, yes, I answer to, you know, those people that I employ and I' I've got um responsibilities to take care of, but at the end of the day, nobody could really say, "Hey, stop doing that." you know, so I had a little bit more runway to to make mistakes and live with those mistakes

if if I could. So, um, you know, from from beginning to first round of implementation, um, probably took about, frankly, probably took about six months. Um, you know, it probably went live three months in. Um, but at a very very small scale where we're really just testing it, breaking it. A big part of what we do is, you know, work it till you break it so that we can then figure out how to not break it that way again. Uh the best part about kind of unleashing it is, you know, it's going to break at some point. Something's going to get tripped up. Uh let's try to do it on the front end with beta testing versus, you know, just blindly trusting something and and hoping that it all works out. >> Yeah, I think beta testing for all this type of stuff is really

important, especially when it's uh integral to your kind of like work processes. So, it seems like you've been dabbling in a lot of different uh areas like you had the marketing agency. It seems like you exited from a lot of different things. Um I I want to dive into almost the personal freedom that you seem to have well from my perception probably uh gotten a little bit more of with with what you're doing as you've grown grown these systems out. How have you felt from a practical standpoint in your own business that you have uh either better freedom because there's like less overhead of employees or um just freedom in uh the ability to under know that processes that are automated for all intents and purposes if they are set up correctly don't make mistakes in comparison to employees and that kind of stuff. Could

you talk a little bit from a business owner perspective of how that's kind of impacted you over the last couple years? Yeah, I mean the whole purpose of of technology is is Um, and so, you know, I'm constantly on the lookout for some kind of inefficiency. There's never a perfect model. There's never a perfect company. Um, there's always going to be kind of opportunity loss. And so um you know my task is is to find it and see if we can actually address it and and hopefully solve it and you know to minimize as as many inefficiencies as we can. you know, the the freedom of of scaling these companies and exiting, you know, a few is is that you you learn more every time, right? And and so what you think was a genius idea, you know, when you hand off that company, uh

if the other if the per the person who's purchasing that can't comprehend it or needs your level of understanding to operate it, um you're not really out. you're you're still working in that company, that business. Um, and and so this was, you know, created, drafted, and and implemented in a way that got me out of it. And if I could get, you know, our receptionists and, you know, our legal assistants and parillegals and attorneys, if I could get them to understand it and use it daily and and comprehend not only what they were doing, but then how to address any kind of issue that may pop up, then I knew that this was scalable. Because at that point it's like all right, you know, we have individuals from all, you know, all sorts of different demographics, education, all of that who are all using this

on a daily basis and they're not getting tripped up with the same issue. Um, you know, whether it be um our our uh AI, you know, booking things in the calendar and making sure that it doesn't overbook, us, you know, deleting things, making sure that it still opens up for for someone else to fill in. um you know even on the marketing side when it comes to um you know DSPs and I don't know how how u much you want me to get into all that stuff but you know when it come when it comes to you know landing on websites and and being able to capture the data to reserve and target on ads which people are most familiar with as a stereotypical example would be like uh you know Facebook you Google something and all of a sudden you go to Facebook and

then you see all the or meta and you see all the ads ads for the thing you were >> a lot of it's just the retargeting through through DSPs but anyways uh you know the the issue that we would have is you know you don't if somebody says um you know I'm not interested in your services you know don't text or email or whatever unsubscribe you know you don't want that that software to then ignore that and then just keep serving ads because then all of a sudden you're just >> spamming them yeah >> yeah you're just spamming you're killing your your email rate anyways uh and getting blacklisted on that. But uh you know so there there were difficulties and problems that we had to address and solve and we had to solve them pretty quick because you know the last thing you want

to do is get the reputation that hey you know these guys are serving me ads and I don't want them to and they won't stop and um so you know that was uh early on a problem that we ran into which was um you know when you find these kind of issues within the workflow how do you address them? Well, first, how do you find it quickly enough to where you're not spending a couple weeks in the meantime, you know, kind of ruining your brand? But then, how do you address it and fix it as as fast as possible without or not without, but with the least amount of friction on the back end as you're trying to solve it? >> What was that adoption like when it came to the people on your team learning and understanding how the things that you were building

actually worked in order for you to not be in it? Because I I understand that completely. Um, I'm definitely at an earlier stage in what I do than you and a lot of the I guess going from building these nice automations and stuff and uh it being off of my plate completely is that understanding of the people who work for me piece. What was that like? So it you know I was fortunate you know I have a team that um has been with me for a while a couple you know years and you know there was there was an immediate buy in but there was a buy in because we had the conversation of what I was trying to solve and so you know these were problems that each of them were running into on their own and there's just not enough time in the

day to to go through all of these and so you know when I explain that, you know, I'm going to build out, you know, these models that are going to solve these specific problems to help you do your job more efficiently, not to replace you. Uh, that that's not the intent at all. The intent is to, you know, help you at your job complete tasks that may have taken you two or three hours are now taking you 15 minutes. And that frees you up to, you know, do other things that are more important or to scale within our company and and learn new roles. And, you know, if you, for instance, start, you know, as a receptionist and you want to become a parallegal, you know, you have to have that exposure to more material. Um, from a property management standpoint, it's it's the same

ordeal, right? If if you want to go from property manager to regional, you know, manager to na nationwide, uh, which is where we're scaling, uh, you know, you have to have that experience, but you have to have the time available to understand not only what the problems and efficiencies are, but then how to solve it. And then if you can't solve it, how to bring it to the attention of everybody so that we can collectively come together and say, "Hey, this isn't working for these reasons. Does anyone know how we could fix this?" And then it's just uh you know I call them whiteboard games where you know we just literally have a whiteboard in the office and we just you know write on there the problems that we're having and it could be as silly as you know uh AI answers the phone in

one ring and I'd prefer it in two rings. That way if I want to answer I can answer uh and talk with a client. And we've had that problem in the past where it's like, hey, it's so efficient and so effective that like it feels like nothing's happening. You know, it feels like we're not getting text. >> Yeah. Then you look at the system and you're like, "Oh, no. We've we've got 100 phone calls and and you know, maybe 60 or 70 text messages and it's it's doing what it's doing. It's fine." But it makes you feel weird because you're just not accustomed to it yet. Um, and so having that that open that open dialogue and the buy in, I mean, that was the biggest thing. I had to have the buy in so that people weren't upset when it didn't work. Uh if

it broke or if there was a problem, you know, there's no there's there's no time to be upset about, hey, you know, I I wish we didn't do this because I'd prefer do it. You're either in or you're out. You know, that that uh what was it? Uh oh, that movie with Dwayne Dwayne Johnson and uh oh, I can't remember the other guy's name. Kevin Hart maybe. >> Or you're out. You can't, you know, you can't be out. And they're like, "Well, I'm already in." They You do uh Oh, it was Central Intelligence. That was >> It's Central Intelligence is the movie where he's the CIA guy. Yeah. Yeah. >> Kevin Art. That's what it was. >> Yeah. Yeah. I like that. So, I I really I really like hearing how this has kind of impacted you. It's almost like it's like an une like

you're so like what the heck is actually happening in the background, you know? you get. So it it feels like it's its own living being which is pretty cool. What now with what you're doing I guess just to make a little bit of a shift to what you're actively doing now uh at Wise Capital uh how are you doing uh the same process again and what cool things are you implementing at Wise Capital to kind of save you this type of time and whatnot? >> Yeah, so you know Wise Capital we're a property tech company so we're heavily involved um on the tech side of things. So just from a 30,000 point view um we've built out tools that are um you know machine learn tools, maintenance predictive models where we can get within a 3% margin of error uh with those IoT sensors. Um

we're also in the process of making our own IoT sensors um our own locks. We have our own IoT network uh conversational AI. Uh we're working right now with different manufacturers as we try to implement things that just don't exist in the class C space. And so that's where we live and operate in is we look for class C multif family value ad properties. Uh we have a a fund that we raise money, investors invest with us, we purchase these these multif family apartments and then we implement our tech stapilize and then and then exit. Uh and so what we're focused on is you know how do we implement the technology in this space in the class C space um that best benefits the tenant and and bringing or or rising or raising the um quality of life of a group of individuals who typically

aren't where people start with this kind of technology. T typically it's luxury class A uh that kind of gets all the the cool little gadgets. And you know our philosophy is if we can build those same processes and gadgets and all all the cool stuff at a price that works in the class C space then we can build it anywhere. And and that's the catch on a lot of these these uh technologies that exist right now. Even smart locks. I mean some of these smart locks go for you know between $900 and $1,200 a lock. you know, that's wild in the class C space where it just, you know, the math doesn't work out. It it just is is not something that you can get an ROI on. Um, but we can develop locks, in my personal opinion, that are better than the smart locks

that exist now for $40 and we can massproduce them through manufacturing for $17. Well, if that's the case, then you really can scale um at a at a group or at, you know, with uh apartments that otherwise wouldn't have that capability because it just is a space that is often left behind, frankly. >> You're at seven employees, you said, at this company? >> Yep. Yeah. >> Practically speaking, say for example, you were doing things manually uh or didn't have these types of systems set up. Would you have a guesstimate as to what you would have to have staff-wise in order to fulfill what you're doing now? >> Oh, I mean I I think that it would be well over 50. I I mean when you look at at the you know at the complications from even a ma a maintenance predictive type model, right? where

we're trying to evaluate how long of a a life we have left with, you know, HVACs and fridges and uh water heaters and maybe boilers and, you know, the list goes on and on and on. Um that's tough to do um with just, you know, one maintenance guy just because it's it's like being the jack of all trades. You can know a little bit, but it's tough to really know everything. uh when you look at even the evaluating of these properties when we look you know we buy things off market we don't we don't go um to the public market we're trying to capture these off market um we have to evaluate these deals and there are you know just in in our city there's you know tens of thousands of these type of deals I mean if one person was doing that I mean

there would be years to evaluate and then it wouldn't be even valuable because at that point by the time you got through one or two properties everything else is wrong and changed and you know and so it just it becomes a problem of of uh you know having accurate da uh data at that point and >> yeah maybe speak to that a little bit more like what how does this come back to the to your like um your customer like right because I obviously that's something that everybody cares about. How does that how does that come back to the people that you work with? You know, it's fortunate because, you know, as we develop these, we're able to keep, you know, let's use the tenants as an example. We're able to keep rents within a a marketable rate. Um, which, you know, the second you

start to implement a lot of these technologies, especially the ones that don't typically exist in this space, you know, that comes at a high price. And typically the the you know if history teaches us anything then what it says is oh you're going to raise rent so much to cover for all the money that you're spending on all the renovations and amenities and all this kind of stuff. And if you're able to to build these technologies, you know, at a price that is is something that can fit in this space, in this class space, then you're not increasing rents to, you know, the great example is there's luxury class A apartments uh here locally in Louisville that will go, you know, a two bed, one bath will go for 2600 a month to to 2,800 a month. I mean, that's really tough on workingclass families

that can't afford that. And so if you get into a class C space and maybe the rent's you know um you know 1300 and you're able to capture on this technology that that doesn't exist uh in the class A space even at this point then not only are you getting a better quality of life and we focus heavily on ten interactions and and making sure that what we're doing is community based uh there's no point in adding all this tech if it isn't worth using you you know, or if it just is broken, it's just it just you you kill the brand at that point. So, um you know, we're we're hyper aware of how uh involved we have to be within the community to make sure that it's not just my wild idea that um you know, getting smart glass for for the windows

is going to look so cool if at the end of the day you go to the tenants and they're like, I don't even I don't even know how to do that or what is that? um you know you gota there's a learning curve there but um you know there's there's a lot of exciting things happening specifically because of of technology and AI and being able to evaluate these deals and cost effective of uh methods to implement and and even build that you know we just wouldn't have frankly this it would take me 15 years to get to where I am you know ju just to afford the people the amount of people that I would need to have to build this. >> Okay. Wow. Yeah. No, I I guess some people probably wouldn't have considered, you know, how that comes back to the tenants, right?

Yeah. I I guess my my initial thought wouldn't have been uh something to that effect, but that that's a good point. Um I now now getting into a little bit more of the I guess hot button uh AI topics that are going on, right? Uh my initial thought when I see or well some people would see what you did with the 50 person company that moved down to like seven and they would they would have a critique of how the you know that impacted jobs and whatnot. What what would be your push back to something like that if someone were to come to you and say well you know obviously jobs are going to get reduced by AI. Um and in regards to like oh it's going to have a net negative effect on everybody. Well, I think there's a lot of business lessons in

that, right? I mean, when I when I first started my first uh company with with the law firm, uh, you know, I had always imagined, you know, successful law firms have a hundred or 200 or, you know, plus attorneys and they're these massive, you know, um, you know, massive businesses that can handle so many clients and you have to have that or else you're not really successful. And so you get in this trap of, you know, I need more people so that it's, you know, I sound more um sophisticated or further along than than the others that are competing with me or I'm competing with them. And then what you find is that, you know, you're you're hiring people to hire people. Um, and you know, that's probably one of the first business lessons is, you know, it's great to say that you have, you

know, 50 or 60 or 100 employees, but if you only needed 20, you know, really all you're doing is is putting something on a resume to to brag about. And so, I think what the technology did for us was we it really put a light on, you know, what is it that we're doing? Like what, you know, what is this person's role? What are they accomplishing? um you know, can we use them somewhere else? And a lot of times, you know, what we found is is you know, maybe we were getting 10 to 15% effort out of individuals because they didn't have the work. You know, we had more people than what we really needed. And so, you know, there's that business lesson of, hey, a lot of this and and especially the scaling down has to do with getting rid of some offices and

and so that played a little bit of a role in the numbers, but then also, you know, what tasks are we actually trying to complete here? And what are what are these employees actually tasked to complete? And if the answer is, well, they just answer the phone when the phone rings. Well, if you create technology that pulls, you know, the calls away no phone, then you're like, "Hey, there's there's no phone." Uh, and so, yeah, I I'd say when it comes to people who got, you know, quote unquote, which is always the critique and the scare factor of like I was replaced by AI, you know, I I don't think that's true. I I think you know what happened was we found the inefficiencies and we found that there you know we had more staff than what we've really needed and then we were able

to evaluate that and and when it comes to scaling in today's age I think it is you know it's the starting point now is you know how can I do this the cheapest way possible and a lot of times it's through technology just you know $350 a month in a subscription is a heck of a lot cheaper and uh going to you know hire somebody with a salary or even hourly or whatever benefits everything else you want to talk about but um you know you really have to have the need for for that role and I think that's and and rightfully so I mean I think we hear these you we see these uh articles that have come out even with these major companies that are laying off thousands of employees and and really they're just uh quasi kind of pointing at AI and blaming

AI or any kind of automation saying, "Hey, you know, we found a cheaper way to do it." And I think what the real answer is, they finally had a reason to to look into the workforce and say, "We have all these employees, you know, what are we what are they doing, you know?" >> Yeah, exactly. as they need to be. Um, is this helping them or are we really finding out that I mean I I remember reading a story where there was an employee who hadn't showed up to work in three months and no one knew because they they just all went off. So, they got paid for three months, didn't go to work. Um, and I think this technology is now kind of uh putting a light on that. And because of it, it's hight it's harder to hide, you know, kind of what

you're really working on um because of the sophistication that we're building through these technologies. you know, I I don't think that uh you know, I'm sure there's an example somewhere where technology replaced people and and you know, I think the easiest example of that might be maybe the automotive uh industries where we're seeing robots kind of implement this and I and I think it's going to happen. I don't think there's a way to um you know, not have that happen. You know, the the difference will be we need people to work on the automation. we need people to work on, you know, the the robots or or any kind of mechanics that are doing that in the auto space. Um, and so it just shifts what the workforce is. But we've gone through these shifts multiple times just in our history. I mean, look at

the industrial time. And I mean, you went from a agricultural workforce into, you know, an actual, you know, industrial workforce. people had to shift um and and we're going through that next wave in my opinion of of a shift that that people are going to have to address and um you know figure out if it's a space they want to be in or not. >> Well, I guess speak to that a little bit more because I am I am genuinely curious of your um perspective on it. I I have this theory going that um I mean seems like you might have already proven it out for all intents and purposes. uh one task jobs and associate level jobs. I mean you ran a marketing agency so you you literally proved this out like associate level jobs I I don't uh from in knowledge work I

don't actually think will exist in 5 years. I think there will be a they'll push towards basically the quote manager role um who has the ability to quality assure some of this work will be there and maybe they'll have to do some minor tweaks but the the the fact of the matter is I I believe if there is if then logic and basic click clack the only gap that needs to be bridged now is a gentic AI's ability to interact with an interface uh or the APIs to be expanded. It's actually not even the uh AI's uh thought process right now. >> Yeah. I I mean I I guess you know when I look at kind of what what you're referencing in the sense of you know you get rid of that associate role it's it's more in the manager role. I mean we can

argue that at a certain point even the manager role kind of gets replaced. Um >> yeah QA work. Yeah. >> Yeah. It it just >> you just have a you just have a an agent like QA the the work for all intents and purposes. Yeah. >> Right. Yeah. I mean, you know, I I used to say this back when I was more involved in the marketing and sales side is, you know, one of the toughest things to do is, you know, have that marketing and sales agency because typically the first thing that gets cut in a business is marketing and sales. Um, so if they're using some kind of agency or third party, uh, that tends to be the first place they go to when, you know, revenue takes a hit for whatever reason. They go to the marketing and sales agency and say, "Yay,

this is too expensive. I'm not getting the return." And that's really not true. It's just, you know, there's other factors that play a role and and uh, you know, it's always difficult for me to go into a small business and try to convince them that they need to be marketing when they've been around for 20 years and it's all been word of mouth and they've never marketed before and, you know, they it it's uh always a surprise to me the the percentage of companies that really don't want to scale, you know, and there's nothing wrong with that. That's fine. Um, but I was never truly aware of that until that time where I realized, you know, a vast majority of these small businesses, you know, they want to have a great, you know, lifestyle. They want to make enough money to pay for the things

they want to do, but they have no intent of being, you know, with 200 offices or in 50 states or, you know, that's just not that's not what why they started their company. That's not why, you know, they're doing what they do. And so because of it there is that learning curve and and as automation and AI kind of take over on that side you know what we'll find is that you know people in my opinion uh whether it's right or wrong they need someone to to build a relationship and trust with and that's extremely difficult to do with any kind of automation or software and so u you know I can give you all the numbers you know every day and show how great this is working but at the end end of the day, if I don't have any connection with you, I'm

just going to look for the next cheapest route that offers the same thing in my opinion. And so, you're we're always going to need people uh to build those relationships to maintain those relationships to make sure that the automation is is not only working, but you something that we can scale to whatever that client is is looking to achieve. And it may not be to double or triple or whatever revenue. It may just be to keep status quo and that they need to adapt from the traditional marketing models whether that be through Microsoft or Google or or whoever. Uh but they don't know what they don't know and it's not their space and so you know that's that's not their intent to to learn all of this stuff. and uh you know in that particular space that's our role that's our role is to to

fill that gap and and to teach what we can and then uh to explain in the easiest sense possible how it works uh and and I think that that's really where the marketing and sales agencies are going to be led is same concept they're going to be assessing you know how many employees do we have what are their actual roles and tasks that they're accomplishing and why do we need them um and and you know can those jobs be done more efficiency efficiently with technology and AI and then from there you know do we still need that role and and so I think you're going to see some scale back on that side of things and I know you know we're kind of in the the eb uh of that space right now and it's it's very interesting to see because I think a lot

of them are are assessing this and they're going okay you know we now have this technology that generates these ads in a second and they could generate 20 of them in a second and then I'm able to look at it and see what you know fits my needs and whether or not I you know want to change something you know maybe significant or maybe not so much and that happens you know in an instant versus you know the traditional model which really was just like three years ago where we're sitting there going you know it really wasn't that long where we're sitting there and we're like okay well um you know, here are their colors and this is what they have to do from a compliance standpoint and this is how we can draw attention from from uh social media ads or or maybe the

more traditional side if you're doing CTV or OTT or whatever. Uh and and assessing it that way, which takes time and you're seeing, you know, the contracts are, you know, three to six month contracts because it takes time to build that out. And now we're seeing contracts that are like four to six weeks um and and they're almost tripling the outcome of what they can produce because of all the technology that we now have and are implementing into the businesses. And so, you know, I I think that for the companies that want to scale and and um especially in that space, it's it's very easy to uh look at what's available, assess how that solves an inefficiency in your business, regardless of whether it's marketing, sales, law firm, I don't care, any industry, doesn't matter. And then try to implement this to solve those inefficiencies.

Well, I I think you really navigated that well because um you you kind of approached it from the business owner perspective, but I also think you you pointed to something that is kind of difficult for a lot of people to admit, but I remember being at a job recently uh prior to like starting this whole thing a couple years ago. And when you're at a job where you don't feel like your skills are being used, like that's actually not really good for anybody. So if somebody's like doing 15% of what they could be doing, sure it is very unfortunate from the financial standpoint, but I think they're we're going to see a lot of innovation from everybody's capabilities. Like everyone is going to reach a height level that I believe is higher because it's going to kind of be forced by um society's um adjustment

to these agents that are able to do these basic tasks which quite frankly we're better than as as people, you know. like we're we're better than just picking up a phone. We're better than just doing some basic click click click here on a screen. And um I think that Steve Jobs's uh prediction that a computer would be uh a bicycle for the mind ended up uh missing the part where the the a robot would get on the bike. Um but you know, he he was uh he was sort of prophetic just uh missed the he was he was early and late. Um, I think just to close things out as we we're hitting the top of the hour, my last question would be um for for what you're doing, what would you like everyone to uh take out of uh what you've said and then

what would you like to plug to end the episode so that people can make sure that they uh check you out? >> Yeah, you know, again, thank you for having me on here. I really appreciate it. I, you know, obviously with Wise Capital as a property tech company and we're looking into the class C space and developing these technologies to improve, you know, our tenants lives and the community around them. uh you know we're developing technology that at a certain point exists you know and that to to your point it's it's fascinating because with the capabilities and technologies that we have at our fingertips now even the the free versions I mean you're able to just be a kid again right and >> it's like a video game yeah >> yeah I mean you can ask these kind of silly questions to this technology like

explain how this works It's, you know, my one of my favorite things to do is is to uh kind of use what exists, whether it be Gemini or or OpenAI, what whatever Jet GBT >> uh as there used to be a TV show um Mythbusters and then there was another one um how it works or something to that effect. And you know that was always a fun show to watch with my kids just because we're sitting there like you know how's a penny made? It's like I I don't know. you know, we're watching these and now you just hop on there and it's going to walk you through not only how it's made, but like how it's sourced and then how many, you know, and all of this information that yeah, you could Google or, you know, search engine, you know, whatever search engine you

wanted to say, but you don't get that sophisticated of an answer. Um, my other fun thing to do in that space is to always challenge it and say, "Well, show me the rule." Uh because every now and then you'll have the the AI like, "Oh, you're right. Sorry." Nope, that's you can do whatever like, "Okay." Uh so you are wrong periodically. Uh but >> appreciate it's something I really appreciate about AI is that it's like, "Oh yeah, my bad." >> Yeah. It's like just talking to a buddy, you know? You're just like, "Hey, I don't think that's right." And they're like, "Oh, yeah, you're right. Um definitely wrong. Try not to tell everybody." Uh yeah. So I mean I think you know for us obviously you can reach us through uh you know investwisecap.com or on social media particularly like LinkedIn, Instagram uh meta all

that good stuff. Uh very active on on um the LinkedIn space and and becoming more active on the YouTube space. Uh but you know for anyone who's who's trying to reach out that's the best way to reach out is through our website or or just through u direct contact through LinkedIn or you know you can email us at wisinvestwisecap.com. Um but yeah that's the space that we're in. We're we're you know the property tech industry is a 36 billion industry as it stands today. It's projected to go to 88 billion in the next seven years. this tech is coming, you know, and I think I think when it gets implemented at all these different levels between, you know, C-class, multif family to luxury A, um, it's going to feel like it happened overnight. And the reality is, you know, you know, this has been kind

of a 20-year journey for the industry itself. But, I mean, just back up three years, no one was talking about property tech. I mean, nobody knew what the heck that was. Now we're talking about, you know, pushing a button on your phone and your windows blacking out, you know, so you don't have to install blinds traditionally or, you know, there's now tinted windows that you can move and it works like transition glasses on, you know, if you're wearing u any kind of of of of glasses or sunglasses. You know, we have um outlets that are on rollers that move. So if the outlet is not in the space that you can reach, you can actually move it three feet over. It's it's going to feel like all this stuff just got dropped on us out of nowhere. And the reality is this thing has been

in development for years. Um, and so it's going to be a very interesting time. I don't think that the next five years is going to look anything like it does today. I I just don't especially in the in the property tech space. There's, you know, a tremendous amount of inefficiencies and not a lot of people to that are involved in trying to solve those. And so it's a very interesting time for sure. I again I really appreciate the time and and uh you having me on here today. >> Of course, man. I really appreciate it, Chris. And uh it was a pleasure chatting with you. We're we're really excited. Please make sure to go to invest wiscap.com and we'll see you guys in the next one. Thanks.