MJBulls 0038 Duby transcript
Dan Humiston: [00:00:00] Today's show and the following message are brought to you by a former guest Bob Hoban founder of Hoben Law Group which is the first exclusive cannabis law firm. They have offices throughout the U.S. and the world. listen to MJ bulls Episode 7 or go to Hoben law for all your cannabis legal needs.
Russ Thomas: [00:00:18] Now you need to have good content that the general audience likes and perceives to be positive in order to retain a positive score. And we call that your influence score and it really isn't so. So your influence score doesn't just go up like follows it goes up and down and it really depends on the recency and the quality of the content.
Dan Humiston: [00:00:43] From buminit media it's the Mjbulls podcast a show about raising cannabis capital
Dan Humiston: [00:00:52] I'm Dan Humiston. And on today's show how. Turning to cannabis is a last resort to help his child overcome a devastating disease. Russ Thomas created duby
Dan Humiston: [00:01:08] Today in the MJ bulls raising cannabis capital series we're joined by Russell Thomas founder of duby which is a cannabis social media. Russ thanks for being on the mjbulls podcast.
Russ Thomas: [00:01:18] Thanks for having me. It's great.
Dan Humiston: [00:01:20] You know like so many people in cannabis your story started with adversity. You had a really sick kid right.
Russ Thomas: [00:01:25] I do still do. But when he was a baby he was diagnosed with an incurable condition called Fragile X which is a form of mental retardation and that we were devastated obviously. And they said well does anybody tried cannabis and with autism they had and that was the only study I could find. So we were actually the first to really administer and document what we did with canabis with our son and the Fragile X condition. And it allowed him to walk talk and eat foods that he couldn't eat before within 72 hours it was obvious that it worked. And so we documented that really propelled me to take my expertise that the industry had been in for two decades and entering the cannabis so that I could maintain and find the best medicine for my son and keep moving forward in this research to help other kids too. So that's how do we begin.
Dan Humiston: [00:02:09] How's your son doing now.
Russ Thomas: [00:02:10] He's doing great. He's yeah he's walk and talk and he goes to school his vocabulary is through the roof. I mean he's still clearly has problems but in comparison to children that didn't receive the same medication. He's clearly doing far better.
Dan Humiston: [00:02:24] Oh my gosh that's is such a great story. That's awesome. Well so I downloaded Duby from the App Store and I say it's pretty cool. It's pretty cool. It reminds me of Instagram. It reminds me of Instagram a little bit. I was really easy for me to figure it out because Instagram but for the people who haven't downloaded it yet tell us about it.
Russ Thomas: [00:02:43] Yeah I mean it's kind of like Instagram it's pictures and videos and sharing a social network elements are dedicated to cannabis and unlike Instagram we're not going to pull your accountant tell you what you can and can't do or how to do it simply because it's cannabis. So we have that advantage. There were also by default it was designed to be anonymous by default. We wanted to ensure that we protect users privacy being that they could be an illegal or legal market. But this is more about sharing and sharing your experiences. We want to people feel culture. So that's the aspects of doing yeah. In addition to that you'll be as unique and then its game as I too have actually got gaming aspects in it. So it's it is very different from just sharing pictures.
Dan Humiston: [00:03:22] Yeah I was just going to say that the part I thought was really cool about it was it seems like you're relying more on your content than how many followers you have. It's like if you post something relevant or people like but I don't understand exactly how game. Maybe you can explain to me how that works because.
Russ Thomas: [00:03:39] You hit it on the head. You said you don't even need to understand it but you picked up on it immediately. The algorithm is happening algorithm that's proprietary that I wrote that basically makes small decisions anonymous decisions on information and getting the fires out to the point that it encourages better content not just the I Have A hundred thousand followers but I haven't actually been in the app in months. Now you need to have good content that the general audience likes and perceives to be positive in order to retain a positive score and we call that your influence score. And it really isn't so. So your influence score doesn't just go up like follows it goes up and down. And it really depends on the recency and the quality of the content. So it encourages less content but better. So what you're seeing in the out there is far better quality because the low quality stuff gets actually put out by the user actions. And it works in the way of a reverse virus. To simplify it if you look at a virus and you can go out on the street and sacked a hundred people by copying in the middle of it it called them off right. It's similar but in reverse in a good way you're sending out a message and the people like it they pass it on and they continue to infect others if they don't it doesn't go far. And these are messages passed anonymously to the person nearest you using the app. And so a bad message for example won't get beyond a small city. A great message will get around the world. And that's the effect of a game fight algorithm like it.
Dan Humiston: [00:05:00] I think some of these social media networks tend to get weighed down by the enormity of their own organization in the can't get out of their own way. Facebook is impossible to use but they have to revamp the whole thing in order to do it. It's probably just not worth it. You're just so much slicker.
Russ Thomas: [00:05:15] . Yeah you're right. So you're getting to where ultimately this goes you say Well now there's Facebook there's the Instagram. And so how are you going to compete with it. We don't plan to compete. We don't need to compete with them. We are a social network for a micro group. And you know a subculture that ultimately when it goes legal they're going to be looking at our simplicity and looking at us as another acquisition target to add into their portfolio potentially but that's just the likes of other ancillary companies and cannabis media companies like have great interest in this audience as well. Just the businesses. So you see where we're positioning ourselves and that makes us a huge target and that's just a business opportunity.
Dan Humiston: [00:05:56] This is I mean I want to I think this is really the heart of it is that we got over 300000 app users and 100000 daily views. I mean we can't advertise like Facebook won't put ads on but then you take something like this that's already targeted and the people that we want. You've got a great business model. Tell me a little bit more about it like if I wanted to advertise on your app how would I do it.
Russ Thomas: [00:06:17] Touch points if you can just go to our website do we for business dot com or do become get to be focused on the app. The business obviously got some business but that will drive you through are our packages. They're quite simple. You can have a business account in the app which gives your advertisers priority. You can schedule them which is something that we have as a relatively small company. That's not normal. And our business is absolutely love that ability and you've got analytics. You've also got what we call replay maps because of what I described before how your ad or I do. It gets literally passed anonymously from one user to another depending on the location where they are nearest you. This provides a unique advantage to mount that so you can see actually where your ad went in a replay time. So we have replay Maps that shows you as lines going out and spreading and so it literally wraps the world and you can see each individual user that got your message where that goes. And it's so nice to see because the number one complaint that we hear of the other advertising opportunities that are supporting candidates that there's no analytics there's no real justification for what they're spending. Well we have that it's inherent to what we do as heritable our algorithm. So when you're getting a do business account you're getting all of that you're getting a weekly match you're getting the schedule you're getting the prioritization of your ads that are going to be seen and they're going to be seen by those nearest to your business which is the biggest advantage. If you were to send out to do from your dispensary for example it will find the most recently active duty users nearest to that location and spread from there. That is very effective. We Can actually see that in all of the results of Google but.
Dan Humiston: [00:07:57] Just a quick shout out to one of our former guest cannabics Pharmaceuticals which is a publicly traded cannabis biotechnology company trading under the symbol. Listen MJbulls Episode 18 to learn about the developments in their cannabinoid based cancer treatment therapy. And now back to the show.
Dan Humiston: [00:08:17] Building an app is super expensive. I'll upfront costs you think any money for a long time and now you have to start marketing this. And that's super expensive. How are you going to fund this next stage of development and marketing.
Russ Thomas: [00:08:30] Great question. We're always always raising money always have been. We've done a great job up until now to build a suite of applications because like you said it's extremely expensive. Some of the ways we save money however is that I quoted a large chunk of that especially all the logic on the back end. And of course you don't have to pay the CEO and founder any money at least not yet. So that saves a lot. But no we were way bigger than that now and we had staff and teams in each platform for that matter. And it's extremely expensive so we raised money through several ways largely accredited private investors. We've had several rounds of angel funding and we haven't gotten the series yet we're still in the junior stages in that regard but probably out right there. We also opened up recently as a ball October for our first initiative for the public and that is a crowdfunding initiative started just as you can we should invest in Duby that come and invest in be that calm you'll see this is this is Duby and this is the public face of Duby which is how you can invest with as little as five hundred on Dubyand we want to open this option up because our users started demanding like us so we have this huge culture of users that they love us they support us and they want to support us more than just telling everybody down low they actually want a piece of the game.
Russ Thomas: [00:09:45] So we recently opened it up there closes just a few days before the end of the year. And so we've kept it kind of silent until then we're really going to push hard to separate. But we'd love to see people check it out and if you're a casual investor non accredited you can use credit cards you can even use bitcoin and you can invest in Duby very very quickly through Start engine. So just look at invest in you want to check that out. Other than that feel free to contact me directly at any time as an accredited or institutional investor and we're always seeking more money to develop and grow or use it.
Dan Humiston: [00:10:14] Yeah well I have I'll have Russ's information on and all of Dubys information on the MJ bulls website but think about that for 500 dollar investment in might be the next Instagram you might be in the next Facebook. The way this industry is going everything's possible everything's possible.
Russ Thomas: [00:10:31] That's why I think this is a baby industry. We see we're a year in which say would since 2012 2014 whenever you want to call. That's nothing that's nothing. We've got a cannabis we've got the US incredibly legal. And then the rest of the world will follow shortly thereafter. So you can imagine the next projected we'll call it three to five even 10 longest will be enormous for cannabis and being in an artillery company a media company like dubyis really the place to be in the place to invest right now.
Dan Humiston: [00:10:57] I think you're on to something Ross. Thanks for being on the MJbulla I really appreciate you being on the show.
Russ Thomas: [00:11:02] Thank you so much for the interview. Thanks.
Dan Humiston: [00:11:04] Good luck.
Dan Humiston: [00:11:07] Just a quick shout out to one of our former guest vivid grow a cannabis lighting and technology company which is expanding its brand through organic growth and strategic acquisitions. Listen to MJ bulls episode 15 or go to vividgro/com. To learn more.
Dan Humiston: [00:11:23] Thanks for listening to the MJbulls podcast. To learn more about today's guest or to become a guest. Visit our Web site at MJbulls dot com. Today's show is produced by buminit media with original music composed by Jamie humiston I'm Dan humiston and you've been listening to the MJbulls podcast.
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