Validate Your Business Idea Before Building the Platform

**[00:00:00]** Hello everyone, my name is Armando Perez-Carreno and welcome to the Web Talk Show. Today with us is Alberto Padilla, he's CEO and founder of Briq.mx. Welcome Alberto, how are you? Great. Thank you, Armando. Thank you for hosting me here. Glad to to see you after so many years. Yes, so many years. Alberto and I met many years ago in the software space and uh we're just reminiscing about those days and and all the stuff that has happened since. Alberto, can you tell the audience a little bit about what Briq.mx is and then also how you got to this point, how you got to build this Sure. So, I'll try to make the story So, basically what we do at Briq.mx is a crowd crowdfunding platform for real estate project. What does it What does it mean is in one hand, there are like real estate projects that need financing and we function as a financial institution that can give them credit or any type of of financing. But on the other side, instead of having our own money, our own balance sheet money to lend it, we open those opportunities that we betted previously betted to the public. Imagine as a stock exchange where there are like IPOs. So, in our case, we we do like small IPOs for real estate project finance and the people, they can analyze the opportunities, put their money in and once the once the money is like the the the minimum amount of money money is is set and the goal is reached, we set we give the money to the real estate developer. But also, we serve as a as a party that gives the all the follow You know, like collecting following up like the the the the progress of the if it's a construction, the progress of the construction and everything. So, we are like the part in between **[00:02:00]** the opportunity the the the offer and the demand, right? The offer being the real estate project and the demand the public wanting to invest. The the attractive thing is that you can from as little as probably will be like And it's in Mexico it's in pesos. That's that's it a brief summary of what Briq does. And how do we how do I get got here is um it's a fun story, but since you know I have been uh web-based entrepreneur since probably 15 years now. Um so, we tried several Some of them went really bad and we learned a lot. But some of them made it I will say good enough. And we had the opportunity to sell two of them. Uh after the first company that we sold we as partners we decided to invest to start investing in different things. Because you know as an entrepreneur you start with no money. At least for you. You start with money for your company but not for you. But once you you make your first exit then you have you have money and you need to start making something with that money. So, every one of us decided to invest in real estate in some way. My one partner bought an apartment. I bought like two specific land projects and we decided like how how can we do it more? You know, like have a portfolio of real estate. We decided to start thinking together and say like why don't we buy some real estate properties together? But then we decided like if if we do this why don't we open it to to some other people probably friends and family and we gather like a small fund. But then we our nature is like tech nature, right? Yeah. So, we thought, "Okay, we can do like a small platform to follow up your investment." And then we we thought like probably this could be a big business **[00:04:00]** if we open it to the public. And we started researching, and of course it was not like our our idea. I mean, there were other ideas in in the world doing this, and we we we saw that there's like a specific industry called crowdfunding. And we said like, "Okay, in Mexico there are no real estate crowdfunding. Let's do this." And that's how we started That's amazing. And and I and I it seemed to remember when I was chatting with Benito, yeah, works with you. Uh and he was on the show if if if anyone hasn't listened to that episode, it's a very fun episode. Um it's uh part of that transition into okay, now let's make it bigger, let's make it for other people, and let's use tech, right? You didn't just decide, "Oh, let's take 24 months or 36 months to build this mega platform and slowly get it out." You you were like, "Let's dive in, get it out, and then figure it out, right?" Yeah, I mean, that's what I learned from you know, being an entrepreneur trying ideas. You need to try ideas out and fail fast, because you can fail you can take so many years failing or real- real- releasing No, figuring out that you're and that's very that that cost you a lot. So, we decided, "Okay, let's try it." And in order to do it, let's try to do the minimum thing just to to get the first use case done. In our case it was present the opportunity to the public and accept their money. So, you don't need to be a fintech, you don't need to have like, you know, like financial rails. You don't You just need like a bank account and a phone number, and you know, like and and a small website presenting the opportunity. So, that's what we did. We We did We we put a small website where we presented the first opportunity. Of course, first you need to find opportunity, right? But imagine you have all that. So it was a very very first version of a a website, but it was just presenting the opportunity. **[00:06:00]** And it said like the the amount needed to fund this opportunity. But it was plain HTML. Right? So every time someone said like like you know click on I'm interested, we manually sent an email with a deposit instructions. And then we called our banker saying like if you receive a deposit of 5,000 pesos in the next hour, please let us know. And then he he called back and said like I already had deposits from this guy. So we changed the HTML, you know, like the progress bar manually. And that's how we started because that's was the the very first thing you needed. You don't have like thousands of users at the first minute. You have your first user, right? That is incredible because people immediately start thinking, oh but scale and I have to let me get these connections and let me get this account with this other thing and do the rails that takes so much time and money and effort and you don't even know if it's going to work. So what you did was brilliant because at the end of the day, well we're all humans. You're doing a transaction between you, a human that owns a company, and another human that wants to do the thing. Nobody cares what happens in between as long as they say I'm interested and they can give you the money and you're going to use it for the right thing and they can see the progress. That's it, right? So Exactly. And well, in in finance there's like a one very important thing that is So you need to at least look so professional that you can give that trust. But you don't need a you know, like an automated website. You just need like a good looking, good wording, well presented website. And that's one thing that you can do by yourself and you know, like putting just enough care on the details and that gives the trust, not the you know, the big platform behind that, right? Exactly. Especially because people don't see the platform. They just see the website and what you did by updating the HTML and all that. **[00:08:00]** It's completely valid. What they care about is being able to see the dashboard updating and seeing that there's progress and if it's someone doing it behind the scenes by hand, who cares? As long as it's being done and things are being tracked. And when you have like 10 10 users, 10 users you can manage them manual, right? Of course, when you reach thousands of users like recurrent users, then then you need to help yourself with with tools, right? Yes, I remember when we first started doing the Facebook workshops a very long time ago. We we did something similar. We would put up a little landing page and it was all manual. People would sign up and get a link that we were actually sending them the link to pay the first first thing. Yeah, they would get an email, we would get the email, we would then draft an email with the link, send it and then when they did, then we would send all the we had pre-drafted replies for everything, but you do it by hand first and like you said, you fail fast or or you know that it's going to work fast. And eventually you get into the whole thing because I see so many people getting stuck in that like which tool do I use and and implementing the whole cycle even before they get their first visitor on the website. Yeah, exactly, exactly, exactly. So, I mean, there's so many ways to do you need to focus on what you want to And many times entrepreneurs think what that what they want to achieve is to build this company. But that's a mistake. What they want to do is like to solve a problem to a person, right? And to get paid by that for that. So, if you focus on the first thing, the late the the other will come later, How did you determine that it was going to be a good idea for like retail investors, or regular people to just put money in? How did How did you get to a point where you're like, "Okay, **[00:10:00]** this might work for more than just friends and family?" Yeah, well, of course the first thing was like the first um proxy for that was our friends, If at the beginning our friends were saying like, "No, I don't know. That sounds complicated." Well, then then you have like the first red flag, right? Or the first flag to to address. But since that went like smoothly, then we tried like opening to to to more people. So, the first thing we opened it to friends of our We didn't put like a marketing money first. We said like, "Okay, you already invested. Like In In crowdfunding, you have this fear of missing out and way to to to achieve things. Because you have you present the opportunity and the opportunity is limited, right? Like you need to fund like $1 million. But that's that's finite amount, right? we started telling our friends like, "Okay, now we need to fulfill this opportunity, right? We need to reach the goal. Do you have any other people that would be interested?" And of course, when when you put your money in, then it's like you become like an ambassador of of your decision. So, you go out and you say like, "Oh, I did this because I'm smart, because I know this opportunity, because and and that that give us like a small network effect at first, right? So, that's how we went like from friends to friends of our friends, then to people we didn't know, but but not what we knew that when that came through someone. And then after like probably was like after two years, we decided to to to put some money in some marketing money in. And and there was another thing that was like kind of organic because crowdfunding was like a novel thing in Mexico. So we we were like in the first part of that wave. **[00:12:00]** And that wave makes noise by itself. And of course that there was also some other I'll say also other organic noise that we can make we we made because since I came from selling my company, that that moment was in some way public and went to the press and I got some coverage, you know, reporters doing interviews and so they they will always ask like, "What are you doing now?" So I took advantage of those little things and put it in in into the the soup of Briq. So that was like a good mix of organic rich. And then after two years we started making some small marketing investments to to reach like unknown people. That's something that's very important. Many people also think they have a great idea and immediately put marketing spend on it. And it can get very expensive very fast without having proven anything. Sure. And and you know actually what something very specific of this kind of companies that like financial company where you invest in a product that that the life cycle of that product will be like probably two years. So imagine you invest in a in the development of a That building won't pay you back like in two hours or or two days, right? It's different if you buy software online. You buy it and then you got the value like right after, right? In an investment, the value comes after some period of time. So, our cycle was at least 2 years. So, we were kind of cautious because it was our money and our friends' money and we decided to go like easy on that. Like, let's let's find out what happens through all the cycle before just, you know, like inviting everyone there. So, that was other thing that we need to to to take care of that, right? but yeah, as you mentioned, people **[00:14:00]** normally say like, "Oh, I have this and I got busy money, so I know to I need to you know, explode." But normally things go go their way even if you put like so many external things the the the nature of the thing will will find their way, right? Yes. And and we can even think of Facebook. When it started, like it or hate it, whether you you you reasoners like Mark Zuckerberg did or don't like them, they don't like Meta's practice, whatever, that company that we all used, even maybe you don't use it now it's so much or maybe you do, whatever, when it started, everyone used it, right? And it would didn't start as whole world thing. It started as a college thing. So, it was they had that that same um circle of trust at the beginning where it was people that you knew because they were in your university or they had that EDU uh domain and and it started growing and then you started getting extra connections and then eventually it got opened up, but it at the beginning it had that both of those aspects that you were talking about, that that circle of trust, but also uh the the the fear of missing out, like, "Oh, everyone's in it and I'm not in it. I I want to be there." And and and you've got all that. So, but and look look at it now, right? It's it's one of the the most valuable companies in the world. And it's not by accident, I think. One of the things that that the people think about when when building a business is I need to sell directly to the person. And that can be expensive cuz you have to do marketing or advertising or social media, whatever you want to do, you have to place yourself there and it's all on your dime. So, one of the things you mentioned right now is I think it's very important to to to bring out because the crowdfunding aspect of it is super valuable. We've had discussions with with people who do marketing **[00:16:00]** for crowdfunding and things like that before and it's very interesting because like you said, when you put money in, then it's more likely that you're going to say to someone, "Hey, I think this is a great opportunity." And then they trust you and then they might do it and then they might tell someone else and you now have this sort of affiliate network which are not necessarily affiliates, but they have it in their own best to to market for you, right? To to let people know about the the the deal. Exactly. And I think that happens in many long-term relation products. Imagine a school. I'm I'm a father. My daughter has 11 years now, but I remember when we chose the first school for our daughter, it was kind of like that. Like, once you make your decision, then you need to defend your decision because your daughter will be you know, will will be there, will be educated there. So, you need to defend your decision. So, you become an ambassador of that school. Like in the very first moment you make your decision, right? And of course, you will recognize there are other schools, but you need to to make your point why you choose that. So, it's the same on investing. You won't say like, "No, this investing is very bad. That's why I do it." Right? No, you need to defend your investment in some way. So, that's one thing I really like about long-term product long-term relation products. Not one time off, you know, like I sold you this chocolate, that's it, go there. So, in this case, we really build a relation and that's what one thing that I always say about financial products. The selling comes at the end, not at the beginning. Because because it will be very easy just to tell you like the attractive points of the investment and saying like you and and I can count you as a customer once you put your money in and that would be nice and my KPIs would would look great. But, the real selling is how it went for you. Did you got your Did you get your money With the expected return or not? That's the real **[00:18:00]** moment of trust in an So, you need to take care of that like really carefully. And that also makes you like if you focus on the product quality instead of the marketing quality, then the product will sell by itself, right? If you get your return, then you will speak about the product and you will be happy about the product. So, that's that's approach we decided to to to have in Briq. And so far, it's going really well. I mean, we have 11 years now. Our marketing budget is less less than five that that five 1,500 pesos Sorry sorry, $1,500. So, it's like 25 something thousand pesos. And that's our only marketing has spent even through 11 years after we founded the That is That is incredible. You don't You don't typically hear those numbers. especially that far in. So, when you're so long in the process, one of two things could happen. One is you're doing so great that yeah, you don't need marketing at all, which seems to be the case. the other is other people are listening and they start to try to catch up and they might come in with more investment money to just pour on ads and things like that and then make your advertising more expensive and make the whole thing more expensive and and then so so so that doesn't happen. But, the fact that it happened this way tells us two very important things. One your marketing works great. Or two, which is the more likely, the the what you just said is true. You focused very much on the outcome, on that return for the customer that that customer themselves have become ambassadors for the brand such that they'll either reinvest or tell other people about it and **[00:20:00]** that just builds so much trust that you have a gap between you and your competitors. Exactly. Exactly. And that that you need time to build that. It's not like instant time. So, it's a specific type type of business. Other thing that another thing that I I think that I did different in Briq than in other companies that is that I became the first user and I have been the the top user since then. So, the platform is useful for many people, but also for me. It's a way for me to have my my my real estate portfolio, right? So, that that make you focus on the quality of the product because you are building in some way for you. And if you are satisfied, some other people will be satisfied. And it's very difficult if you are not the consumer of your product. And that's normally the case, right? It's normally the case. You build a product for other people and but doesn't apply for you for any reason. And in this case, as I mentioned, it's a long-term relation for with the customer. So, I'm the first person customer and I really want my investments to go well. So, and I'm not the only one investing. Many people is investing. So, I really I will take care of my investment and it by it like by you know, side effect will take care of many other people's investment, right? That's That's actually great advice for anyone building a product or service. Be your own customer, if possible. Because that's true. We find so much that people will build something and then they even test it like crazy. And oh, it's everything's great. But then when actual users start having it, it's it's a mess and there's a bunch of bugs and there's a bunch of things and it's not necessarily that it was badly created, but that nobody in the team or the test environment was an actual user. So, you never thought of actual use cases that people And for me, that's very important. In fact, we have like an internal policy that's called **[00:22:00]** Todos invertimos. We all So, on top of your salary, we give you 1,000 pesos. It's not that much. Just 1,000 pesos, but those are taxed to invest through the platform. So, you need to invest those 1,000 pesos through the platform every month. Uh and if you don't, we we discount that from the next payroll, right? So, And so, it's it's just a way to say, you need to be user, right? I mean, I don't know your financials. I don't know how are you doing. I hope you're doing well because we're a financial company. We will We will help you for that. But if you work in Brex, you we you need to use Brex. So, I'll I'll make sure as a as an employer that you have the tools to become our customer, right? So, that's what we do. And that that can give us a a lot of insights because as you mentioned, use cases, even bugs, you find bugs that way and many other things. So, I really think it's a a very important thing to do in in any product. If possible, as you mentioned. That is that is very interesting that you do that because it incentivizes employees to use a product, yes, but then also allows you to help these people because some people will be great with their finances. Um many, especially because they're working in a finance company, but then others won't. They'll make mistakes and or maybe they overextended themselves or whatever, but at least with this they have a way to have some sort of investment regardless, right? That is that is sort of supported by the company, but they're they're active on it. It's not like a 401k or something that's just there and then they're sort of managed somewhere and you have no idea what's going on. They have an active role in keeping it. Exactly, and they need to decide which which opportunity they will choose. They need to at least log in, right, to do it. That is That **[00:24:00]** is very very nice. You mentioned a threshold, right? There's there's a limit or threshold that has to be met for that deal to actually work or go out or the money to be dispersed, right? So, how does how does that process work? Can you explain a little? so there are two constraints, the amount and the time. So, when we publish a campaign, uh we this this is something we do with with the the real estate developer, you know, like the people behind that and we decide a minimum amount and a time limit. So, let's say we need to reach half a million dollars in 2 weeks. If that if one of those doesn't happen, then the money goes back to the investors. What we do is in the meantime, and the the money's investment invested in a liquidity fund that has like a 1-day liquidity and a very very safe return. I mean, it's like super ultra low risk. Normally, it's invested in in governmental instruments with one day So, if if one of those constraints is isn't breached, then we give them back the money with the small interest that they made during the process, right? That's important because that incentivizes you to to be in the at the beginning or or when you want, not not to wait till the end, right? Okay, that's fine. Because if you wait till the end, probably you can miss out. So, if if both constraints are are met, I mean, you reach the minimum amount in the specific time, then we give you the money. And after you reach the minimum amount, normally there's like a gap or a like a another there's a like a real maximum Because we won't give them more money than what than what they need, right? That would be like also a bad investment. So, in that to in in between, like the the real estate developer can gather the money in between those those amounts, and **[00:26:00]** then when the the time comes, he he, you know, he calls the money, we call them execute the campaign, and we give them the money, and then and then all the things really start happening. I mean, like all the follow-up and all the, you know, like the the specific following up tools and questions that we have and the reporting and everything, right? Interesting. Okay, so when it gets to that threshold, then it's valid, and then at that point, they can they can call the money, and then the whole process starts. So, what does that look like from the the company that's asking for the funds, right? Um from their perspective, what is it that happens compared to, let's say, they ask a bank for a loan instead of something this. Yeah, so there's like I will say it's like a I don't know if in English it's it's a saying but like a two-way sword, you know, like a spanner those fields Double-edged sword, yes. in one hand you will have like 1,000 investors normally, 2,000 investors. But also means that you will have 2,000 pair of of eyes watching you. So if you want to do something you know, like on the gray side or on the dark side it will be more difficult because there are like people waiting for your reports and probably people, you know, going through your development site and and if you are like, you know, like closed the the construction is closed because of a permit or whatever, people will find out, right? And with the bank it's a little bit different because a bank won't be like, you know, going like every day to your development site. So in a way it's a very positive thing because then you have like 2,000 ambassadors and you can sell to them one of the units or you can, you know, promote your your product that at the end the product of the real estate developer is the unit that you build, **[00:28:00]** you know, an apartment, a local or whatever. And so that's what happens. So of course there's like the the obligation to pay back no normally some interest in the in the during the period. Normally it's every 3 months or sometimes every month. And the the capital you need to pay at the end of the term. But also you need to start reporting. So we call them updates. You need to give updates to your investors. Normally we ask for at least one update per month. An update could be something so simple as we're going as projected or we already finish up, you know, like all the the setup or we're already on the first floor. And normally we we try to to to ask for for photographs and videos and sometimes we go, of course. It's not like oh, we we trust them with our closed eyes, right? So, we go there, we we make a visit, and we we make a our progress estimation. But, the real estate developer needs to start talking to their customers. And my talking is just giving updates. It's not a two-way talking, because if not, it would be like a really mess for the real estate developer, right? Like he he would say like, "I can I don't have time you know, to to give one-on-ones to 2,000 peoples." 2,000 people. So, but but you can give like a like a stream an update, and people will react. Like in our social network, or like a very specific social network, people will react like positively, negatively, neutral, and will give you a comment. So, you will gather feedback from your audience like that. And that's it. Of course, sounds simple, but it's not that simple. You need to to build, do, and then communicate, right? do you see people or companies, real estate developers, reaching for something like this because of things like that? Like I know it sounds like, why would you want that? But at the same time, you sort of do want **[00:30:00]** that, because it keeps you accountable and forces you to go And also, in this specific case, real estate developers normally they don't make a brand, at least in Mexico. It's very difficult if you go to any building, and you ask one of the people living there like, "Who built your department?" They'll say like, "A a constructor, you know, a real estate developer." They don't know the brand, you know? Like in my shoes has a brand, I know which brand it is, right? But not my house doesn't have a brand. So, this is a way for real estate developers to make a brand, you know? Like to to expose them as a brand to the public. The brand is it's not like labeled in the house, but it's labeled on their on their process, and in the minds of the people that invested through them. Because normally real estate developer won't make just one project. They will go and do many many projects. So you want your community of investors to be close to you in some way. So that's a good thing. But at the end this is a financial industry, right? I mean and the financials dictates what's happen. So if the financing in Briq is expensive even though they have like you know this thing of having the the opportunity to make a brand if if it's too expensive they won't they will go to the bank. So so that's a balance. Sometimes they do accept a little more expensive um interest rate than the bank. A little bit because they have this you know this um this branding or this awareness thing. But if not they they won't they won't do it. They won't accept a a high interest rate, right? Mhm. Of course. Yeah, like everything. Some it'll it'll balance out. Sometimes they can't use the bank for whatever reason or they don't like using the bank and they might prefer to do something like this as well. Exactly. As I mean I everything has its cost, right? Sometimes it's like okay, but everything has its cost. Do you find people **[00:32:00]** that invest once that cycle runs cuz you've gone through a few cycles already through the years, do you see them doing it again? And again after after they've You mean like the investors or the real estate developers? Yeah, of course. Because actually we encourage them. Like it's not to put your all your money in one specific project. So we say like okay, if you have this amount of money divide it in 10 different projects. Because that's one of the the good things of making the the the entrance ticket so low. You can start trying or you know testing the your investment the with small or good small tickets, but in different projects. So, yes. And actually, when they get their money back, of course, where you they're like saying like, "Okay, these are the new opportunities, you know?" Take the interest compound effect with the compound effect. So, so your money really grows. And that's one thing that we try to do. And the same happens with the real estate developers. Once they finish one project, they will ask for another financing for the next project with us. Normally, that's what they do. Interesting. And so, the the barrier to entry is very low with an investor, but can they invest whatever they want? Or is there a limit? Like, let's say I can invest $25, but but can I invest $100,000? Is there Are there limitation or are there people actually using it that way and they just just like the type of Yeah, so actually, that's that's one surprise that we got at the beginning. We first thought that our target will be like young people with with some money, but not that much money. And they will invest, you know, 5,000 pesos here, 500 pesos there. Um but then we we start getting like some high net worth individuals investing through the platform. And we reached to them and asked them why. They said like, "Because it's a good opportunity to to diversify." Because instead of buying an apartment of 10 million pesos, I can make I can put 1 million pesos in 10 different projects. And that's that's a **[00:34:00]** like a type diversification strategy. Uh so, that's a good surprise. We have like these two types profiles, like the the the early investor, the the one that is like learning how to invest or at least in the very early days of their investment or building their their their you know, their portfolio. And there are the other ones that have already a big portfolio um and and a real big wealth. And they use us as another instrument. So, that's a good thing. But there there's there's a limit. We are a regulated company, that's important to say. It's a regulated activity in Mexico by the the equivalent of the SEC in the United States, it's called the CNBV in Mexico, Comisión Nacional Bancaria de And um they put us a limit. I don't know exactly why, but there's like a limit on the on the top side. You cannot invest more than 1 million pesos in each opportunity. And I think they they make that to force you to diversify. So we cannot have, you know, like this 5 million pesos opportunity and one guy saying like, "I will fund it." You you need you will need at least five of 1 million pesos. Ah, interesting. Yeah. Yeah, and it sort of makes sense. Especially maybe there's other reasons why they don't want that cuz then it could lead to different practices that someone might get somebody to just do it and you know, They have to build the rules to avoid certain things, I guess. Exactly, exactly. Yeah, our rules has it has its its why, right? It's like when you see the history of of industry and you see why the the non-monopoly rules were created and all that. They they weren't just created, that people were actually doing the Exactly. Taking advantage. Oh, this is super interesting. What Have you ever seen any real estate developer like really **[00:36:00]** take to the platform and instead of just giving brief updates, actually, I don't know, sending more videos and and graphs and things and just getting the community their community excited so that they reinvest? Sure, totally. Even even beyond that, um there are some developers that give like benefits to their investments. A couple of No, a month ago, no, a couple of weeks ago, we have one developer from Monterrey that I really like what they do. And they are the the building is already finished and they all selling the last units. And do you know these Argentinian guys, Katriel and Paco Amoroso, the musicians? Those guys were like playing uh in Monterrey giving a concert. So, he sent an invitation through our platform to the investors because he will be he he was going to be hosting the musicians of of Katriel and Paco Amoroso in the rooftop of the building. So, it was like a private event and he invited the investors. Because, you know, like because they were they they believe in him, so he said like, "Okay, there's this opportunity. Come." And it was a really nice moment. I didn't went because this is in I didn't go because this is in Monterrey, but one one member of our team he he went and said like, "Really nice. Those guys are, you know, amazing guys. They're super talented And that's the the things that a developer can be can do to build really a community, right? That's incredible. Yeah, I I've seen and heard and talked with different people throughout the show about these types of exercises. Not not just like obviously not in real estate necessarily, but in in different types of companies and initiatives. And it's amazing what a crowd can do. Like there's even crowd health over here, people that don't like insurance and how it works. There are these these crowdfunded health things where you're in a plan and something happens, then **[00:38:00]** the crowd pays for whatever happened. It's not an actual insurance. And and it's nice, like people helping people, right? Totally. It's like I would say it's the the disintermediation of industries. Even though we are like the intermediary of the industry because we're the the one that gathers all together and make in some way the rules or or at least put this the specific constraints. But, what we're really doing is just intermediating an industry because normally your money normally is is financing the real estate developments, but you don't know that and you don't get the returns from that. Normally it's just the bank taking your money that you trust is there uh and they are making profit with your money. Now it's like, "Okay, they why don't you do it by yourself, right?" That is That is a great way to put it. It's true, right? It's just That's what's happening, but now you get a little more insights and you get to choose where it goes and and and uh what happens to it. Exactly. And that's that's possible because of technology, right? Because of the the access to the information. As you mentioned with the health industries, if people gather to to to have like this crowd insurance, it's because they can because of the Before that, you needed like a central part that has the information to do that and you were like blind to that, but now now you're not, right? This is excellent. I Alberto, I really appreciate you coming on the show and sharing with us about Briq, about how you've been changing the industry and the space. Um if anyone listening is in Mexico and uh has been thinking about maybe investing or things like that, obviously this is not investment advice, we cannot provide investment advice. Talk to your uh attorney about this, but check out Briq.mx. I It's a it's a great way to discover new ways of uh managing your money **[00:40:00]** and perhaps diversifying as well. Alberto, do you want to share where people can find more information uh about Briq? Sure. Like our website is the main the main entrance. It's b r i q, that's hard to to say it's a we use a q and that's a nice uh nice thing we do with the with the logo because the B is like the the Q is a B you know like that's flipped so Briq.mx and in real in social media where as Briq MX without the dot. I think even even if you don't invest or whatever like I would love to to hear from people about what they how how we present the opportunities how the company culture is projected in the website whatever like I I really like when people go beyond what they see and if this is an opportunity to get some of that I'll be more than glad. Amazing. Thanks again. Thank you for sharing with us and everyone if you haven't liked and subscribed to the show please do so so that you can be aware whenever we have new episodes like this great one with Alberto and we'll see you in the next one. Thanks Alberto. Thank you very much Armando.