Revolutionizing the Roots: GrubMarket's Tech-Driven Transformation of the Food Supply Chain

Who is Mike Xu, and what is GrubMarket? Discover the answers this week on The Fresh CrEd. Join us for an exclusive interview with Mike Xu, CEO of GrubMarket, as we delve deep into his journey and the transformative impacts of his company on the food industry. This episode features Pamela Riemenschneider from The Produce Reporter, who will guide the conversation by bringing forth key industry questions to Mike, offering listeners a clearer view of the challenges and innovations shaping the food sector.

Join Pamela and Craig Slate, CEO of Sunfed, as they sit down with Mike at GrubMarket's headquarters in San Francisco. Together, they will explore how strategic acquisitions and ground-up technological innovations are not only reshaping the food supply chain but also setting new standards for what we should expect from our food systems.

Tune in to gain unique insights into how embracing technology can lead to greater #efficiency and #sustainability. This conversation is more than an interview; it's a window into the future of food distribution.

Don’t forget to subscribe and follow The Fresh CrEd to stay ahead of the curve in technology and tradition. For more information and to listen to the episode, visit our website: https://www.thefreshcred.com

Listen to the full episode here and learn more about how GrubMarket is harnessing AI and technology to redefine industry standards: https://www.GrubMarket.com

Catch Pamela on The Produce Reporter!
https://www.youtube.com/@ProducewithPamela/videos

#TheFreshCrEd #GrubMarket #Sunfed #FoodTech #AgTech #Innovation #Podcast #TechInnovation #SustainableAgriculture #Leadership #ChangeMakers #Disruptor

Transcript

Speaker 1: 0:00

Hey there, fresh Cred crew. Welcome to a very special episode of the Fresh Cred Today. We are joined by Mike Hsu, ceo of GrubMarket, and Pamela Riemenschneider of the Produce Report. Pamela is joining us today to interview Mike and myself to learn about who is Mike Hsu and what is GrubMarket. Mike's journey from a rural part of China to one of the fastest growing startups in the US is a compelling story and one that I think you all will enjoy. Mike is a computer science graduate from the University of Wisconsin-Madison where, in parallel to his studies, he operated a small farming operation growing vegetables there in the beautiful Midwest. After school, mike took off for the tech world, where he joined many different tech companies, but a couple of big names, ebay and Oracle, just to mention a few. In 2014, mike went back to his passion with fresh foods.

Speaker 1: 0:54

He started a small delivery business there in the Bay Area where he quickly learned that there was a lot of inefficiency in the fresh food supply chain. Leveraging his tech knowledge, he spotted an opportunity to improve the US fresh food supply chain and the vision of Grubb Market was born. Take a listen now as Pamela talks with Mike and myself about where Mike started and how he got to the fresh produce industry, the growth of Grubb Market, his vision and what's happening at Grubb today. So sit back and enjoy the show. Welcome to a very special edition of the Fresh Crab.

Speaker 1: 1:35

I am excited to announce that we are here in beautiful San Francisco, in the Bay Area, at the headquarters of Grub Market Bay Area. At the headquarters of Grub Market, we've had the opportunity to do a collab with the produce reporter and we've got Pamela, who's made the trip all the way from Austin to come out here and join us, and then got Mr Mike Shue. That is not only giving us the opportunity to shoot the show from here, but also talk with us a little bit about himself and Grub Market. So, mike, pamela, thank you guys both for for joining in here and being part of the Fresh Cred and looking forward to the conversation.

Speaker 2: 2:15

Yeah, I'm really glad that you invited me to come visit Mike we haven't met in person and to have the produce reporter and Fresh Cred. Yeah, it's kind of fun Bring me in as a moderator, kind of, because we'll get into this later but we wanted to get to know you a little bit, mike, and to know more about what Grub Market is, because I've been paying attention for a while mostly acquisition press releases but I want to know more about you and more about the business. So in the produce business everyone talks about it being a people business and we're like a family, so we need to get to know you better. Where did you grow up and what brought you to study, what you did and how did you get to produce?

Speaker 3: 3:01

well, yeah, it's a first. All thanks for having me in this very special episode. My name is Mike. I grew up in a rural area of China and I came to the United States to study computer science at Wisconsin for about four years and then I I graduated and my first job is the software engineer at Oracle. And then I work at Oracle, eBay and a few e-commerce, fintech and enterprise software companies in Silicon Valley, and then I always dream about leveraging the technology to bring the positive impact of technology to the industries that needs technology. So that's how I came to this produce industry.

Speaker 2: 3:59

So did you have a background in food production when you were growing up?

Speaker 3: 4:03

yeah, I uh. Like I said, I grew up in rural area of china, so I've been with farmers and growers. You know, since my, since I was a kid, you know I really enjoying, you know, being part of the rural agricultural community and when I community, when I started at the University of Wisconsin, I actually rent land from the University of Wisconsin to do the farming.

Speaker 2: 4:31

So you rented land from the University of Wisconsin. What did you grow?

Speaker 3: 4:35

I grew all kinds of produce very productive. It was a very productive planting experience. I planted green veggies and squashes and then pretty much got all kinds of stuff, like from lettuce to zucchinis and then to beans and peas, all kinds, and even tomatoes. All kinds of produce.

Speaker 2: 5:05

So personal consumption, or were you trying to have a farm stand?

Speaker 3: 5:09

Yeah, basically personal consumption, family, because I had a family, you know, I had a wife and a kid in the University of Wisconsin and I, besides our family consumption, I also donated my produce to the you know produce, to the people in the University of Wisconsin.

Speaker 2: 5:30

Okay, so, masters of Computer Science, yes. And then you go into Oracle eBay, more tech-related fields. Exactly how did you decide to get into produce?

Speaker 3: 5:41

Yeah, I have been. As I said earlier, I've been always dreaming of bringing software and e-commerce technologies to the industry that really needs technology, and I have been always loving food and gardening and you know this kind of agriculture, farming experience, farming experience. And then I realized the agriculture and then the produce industry are a gigantic industry in the United States that have been behind all kinds of technology, innovation and transformation, and this is the industry which I have been closely interacting, and since I was a kid. So I really I think this is a industry I really want to.

Speaker 2: 6:33

I want to, I want to stay what are some of the parts of the industry that you thought you know what? There's a tech solution for this? What? How does this industry work? That could be done better with better technology.

Speaker 3: 6:49

When I started this ground market company in 2014,. There are a few things that strikes me that I hope I can bring the value to this industry. Value to this industry is that number one is the. This is a gigantic industry with trillions of dollars, but most of the industries are offline.

Speaker 3: 7:10

In 2014, if we look at the you know the travel industry, the fashion industry we have seen a lot of online, you know penetration into the people, bringing the e-commerce technology to bring those industries online. But the food industry has, even though it's very essential and probably one of the most essential industries in this country, but still most of the transactions, most of the activities are handled offline. And so I see there's a value for me to bring the e-commerce and enterprise software technologies to help the people to handle a lot of things online and they can get orders 24 hours a day, and then they can make their wholesale and distribution activities more efficient by leveraging software technologies. This is where I see a value for me to come to this industry with a humble attitude and to see if I can bring some positive impact to this industry.

Speaker 2: 8:23

You're making me think of some of my early experiences in the produce industry, where this is how it was bought and sold. You ride along in a truck with a guy taking 20 phone calls looking at crops at the same time. That's, that's how I had seen it when I first started. Or fax machines, or pricing lists that you send out or something like that. It does make sense to move it into a little more modern way of doing it. So when you started GrubMarket, what was the company's function when you first started?

Speaker 3: 8:59

Basically that time we have these two business models, which is one is the online grocery, which is a B2C, and then the other is online B2B, and then we found that the online B2B is a more reasonable business model, and then so we focus on that. That's how the current gold market company is mostly focused on the B2B.

Speaker 2: 9:19

Okay, so you started with the grocery, then you moved to B2B. Can you think of any anecdotes or examples or something like that, where you're like what have I gotten myself into? Or has food always been a natural business for you? Have you always found a way to make?

Speaker 3: 9:39

it. Yeah Well, at the beginning I source produce directly from farmers and growers, so I greatly appreciate whether farmers and growers worked very hard to get the produce you know harvested and then brought to the food supply chain industry. So I really develop a belief is that our technology transformation should not take the top-down approach. It should take the bottom-up, which means how to benefit the people who are spending their life hard-working, didn't make much money. The technology really needs to benefit the people from the bottom-up. It is my success criteria.

Speaker 2: 10:21

So to do that, you can't just be a B2B. You can't just be a B2B, you can't just be the food supplier. So you've got to go into acquisitions to expand the business. How did you turn that corner into acquiring other businesses?

Speaker 3: 10:35

Yeah, so this is a big learning experience of the how the tech people came to this industry, because when I started in 2014, I have seen pretty much a lot of similar companies like us, which has the tech people or people coming from the investment world. They saw the opportunity in this gigantic produce and food supply chain industry. They want to bring the technologies. They got the money from investors and then they just thought they are the you know, someone chosen by the you know for the mission, and then they took the pride and you know of bringing the technology to this industry. So they trying to build up their business from scratch. They think they have a lot of money and then, you know, even I was part of that. I was part of the tech background entrepreneurs. We didn't, you know, respect the a lot of know-hows in this industry and then we just thought that we have technology, we have money. I was lucky enough. I quickly learned that there are a lot of things I didn't know about this industry and I need to stay humble and first learn about this industry. Then we can build the best software we think is the best for this industry. But quite some of the other tech entrepreneurs they didn't realize that. So they will build everything from scratch. They spend the money and then they eventually run out of money. So that's why we have seen a lot of similar companies didn't quickly came up and quickly finished by using up all of EC's money.

Speaker 3: 12:31

The food and produce are very sophisticated and highly perishable. It's basically a very sophisticated business and its operations are very difficult to handle. And for people like me who didn't just like for another, like Craig, you know, started the first job in the produce industry, you know. So I have a lot of things to learn and then. So that's why it's a great, it's a very bad idea for me to do things from starting from scratch. So it's best for us to partner with the very well established business like Craig's SunFab business, to work together to build up our technologies that we think are the best fit into this industry.

Speaker 2: 13:24

What was the progression? How did you guys? You know, obviously there's fundraising involved in that, but it's not just buying a few here in the Bay Area. This is pushing a huge vision so roughly. How many acquisitions have there been, how much fundraising has there been and where's the fundraising coming from?

Speaker 3: 13:52

We know that the big players like Cisco they have done hundreds of acquisitions and our acquisitions are kind of different from the Cisco's acquisitions because we're more focused on the technology transformation of the acquisitions. So so, as of today, we have acquired more than 90 companies. Of course we use the money we raised from investors who see a value of what we are doing.

Speaker 2: 14:17

So tell me a little bit about the investor process and what you've seen. Come into this business. What kind of investors are you attracting?

Speaker 3: 14:26

Yeah, so most of our investors are based in US and then they are institutional investors, you know, like Pega, global and BlackRock, and they basically just typical investors, focus on making capital returns and then they like what our business fundamental thesis. So they think this is by investing us they can make a good capital return. So I think that's the basic fundamentals of investment. Some investors who are actually just like general meals they are actually very deep into this industry and then they are doing a lot of traditional food supply chain business stuff, but they really like to find the opportunities that some technology companies can bring to the industry. So whenever they see the investment companies like us who can bring the positive impact of technologies to the industry. So that's the very interesting sector of investors that we were able to raise money from. Okay.

Speaker 2: 15:46

So what makes a company attractive to GrubMarket for acquisition?

Speaker 3: 15:52

The companies that have been in the industry for quite some time, such as 25, 20 to 40 years, and some of the businesses we acquired has, for example, like Grand Hunt has over 100 years, yeah, and SGS Produce in Los Angeles has over 120 years, and we basically they bring a lot of experience in this industry and then they also, of course, they are very successful and very well established in this industry. And then they also, of course, they are very successful and very well established in the industry. When we acquire companies, we are not just like doing financial acquisitions. We feel the you know, the acquired companies are some greater business entities that we can partner with and then we can learn a lot of experience of this industry from, and so we have acquired modern id companies.

Speaker 2: 16:51

We really are a big family so, craig, this isn't just the pamela show, it's okay, I'm enjoying the show myself so sunfed your day. Job was acquired by Grub Market. When did that happen?

Speaker 1: 17:07

January 2022. It became official Okay.

Speaker 2: 17:10

Well, was acquisition something that Sunfed was pursuing?

Speaker 1: 17:13

Absolutely not so. Matt and I had acquired the company from his father, danny, who started Sunfed Right and obviously Matt, being the lineage lineage was very close to the business, so it was never anything in our vision to to be acquired. We were set out to continue what Danny had started and expand on it and build a much bigger business.

Speaker 2: 17:39

Well, what made you decide to do this? How did this work?

Speaker 1: 17:43

So yeah, a a couple of things. One, you know Mike and his story and his vision. It's very compelling, right, you know, because this is you know to understand and know kind of what he's doing, how he got started and where he's going. I mean, it's like I said, it's a compelling story, it's a compelling vision Also, both Matt and myself Matt being much younger so it's not quite as amazing, but even as an old guy I'm very much leaning to technology.

Speaker 1: 18:16

I believe that for this industry we tend to always be kind of behind where the technology space is going.

Speaker 1: 18:25

I'm, like I said, been in the business for 30 years. I can remember when computers came in and I can remember how long it was just for us to adopt computers and you know, get away from fax machines and there's just the industry tends to be very slow to adopt. But you know, when you look at the world around you, you know Mike mentioned fashion, he mentioned some of the other spaces, but efficiencies of technology are changing industries all over and for Matt and I, when we looked at it and we heard Mike's vision, we understood what they were doing here at Grubb Market. Joining the Grubub Market family became obvious kind of for us to want to be part of, because not only does it give an opportunity for Matt and I, but we believe it gives an opportunity for our employees, our customers, everybody through the whole deal, because, literally, we improve the efficiencies of the supply chain, we will ultimately be able to bring down costs, which, in turn, should increase consumption.

Speaker 2: 19:31

At the end of the day, and increase money back to the producer For sure.

Speaker 3: 19:35

Absolutely, and also as part of the tech companies we also partner with Craig and Matt. We give stock options of the market to some of the employees.

Speaker 1: 19:49

Yeah, and that's something you know. That's a great example, you know, and that's the thing. Yeah, when you become part of a much bigger organization, you know, for people that are part of a family deal, there's you know, there's a fear factor. Right, You're very close to they, can see me all the time. But to be part of an organization like this not only things like stock options that was something that probably wasn't going to be an option, with Matt and I being by ourselves, but the options were in Grubb, right, I mean, we're now part of the Grubb family. Therefore, all of our associates have the opportunity to expand at SunVet or potentially expand up into some of the other family companies. You know it works really well.

Speaker 3: 20:29

Yeah, and also, we are not like a PE firm. You know, pe firm. They acquire companies. They try to, after they acquire acquisition, their focus is they maybe try to squeeze the company to make more money for them. Our acquired companies together through the technologies, not through, you know, trying to, you know, cut more people or changing the management to make more money.

Speaker 1: 20:53

That's the number one question, I get right, is you know, what has Grubb Market changed about how you and Matt run the company? And my answer is which was that was a deciding factor? Right, and the you know Mike was very clear. You know, we want you guys to run a good business. That's what we're bringing you in to do and they have absolutely unequivocally let us run our business. You know, we're just part of a bigger family now but in terms of like I said, they're not a PE firm that's going to come in and tell us we should do this or do that.

Speaker 2: 21:29

Exactly. So you know, craig, what's your perspective on the vision that Grub Market has for the fresh food supply chain?

Speaker 1: 21:38

So to kind of continue on that train of thought I was talking about from a technology standpoint, right. So if you think about it now, you know that AI has become what AI is, right, I mean, you can start to see a lot quicker how what these guys are building with a software platform, what they're doing with technology is, if you can imagine for orders to be placed and instead of somebody either on a computer or a spreadsheet calculating and what's the next order got to be, and instead of somebody either on a computer or a spreadsheet calculating and what's the next order got to be, you can imagine artificial intelligence doing all those calculations and doing kind of the mundane stuff throughout the process. And this is just a senior thing. But when you think about what that kind of technology can do to make the system more efficient and allow people to do bigger and better things, right, they can. Instead of being bound to a spreadsheet or something like that, they can maybe be talking to another customer or, you know, moving more produce somewhere else because they're they're freed up from the mundane task.

Speaker 1: 22:38

But you know, when you think about the overall vision, right, I mean you're looking at as what Mike's kind of already said he's like he's bringing in people and organizations that know their business, knows the parts that he recognizes. Hey, I'm not an expert in this. I'm going to bring these experts in and then the part where he and his team and what the overall technology group is, where they're experts, where the rest of us are not, and then together join all that technology up so we can be one fluid unit. And you know, for me I I feel it's it's kind of a vision, not just for the grub but potentially for, you know, the greater being right. You know, you prove this concept, proof of concept out right. I mean similar. You know there was no uber at one time, but uber came out and there you go, lift, and now you've got got an industry that didn't exist before, and so it's a grand vision. And that's the thing is for people that in the industry, being a disruptor in any industry is never easy.

Speaker 3: 23:39

And for a lot of people it's got.

Speaker 1: 23:41

There's a lot of people. Disruption quite often brings fear. When you come in, it has a disruptor. Yeah, I mean, there's fear that comes in, there's uncertainty. So it's not easy being a disruptor. But again, just look around the space you could name a hundred just sitting here. Different things have been disrupted in the last 15, 20 years, from technology and so when you start to think about it, to have somebody come along, like Mike and have this vision and he's not coming from a space of you know, I grew up here in the North Bay. I went to Stanford, my parents but you know he came from a grassroots level. He's done farming, he's opened a wholesale facility. He's done he not, he's just observed he. I mean he's literally, you know, developed from a grassroots level, uh, uh, an appreciation for what everybody does in that supply chain. So it's a whole. It's a lot to it, but, but it's it's again, you know, it's one of those things it's, I know. I'm super thrilled to be part of it.

Speaker 2: 24:42

Well, as the business is building acquisitions. It's not just acquisitions. You also recently released the AI solution, grub Assist, and that's something that anyone can come in and be a client for Grub Market. What is AI, the Grub Assist, and how does that fit into the overall?

Speaker 3: 25:05

vision, part of my belief that we bring the technology to this industry. It's a great industry that, with a gigantic amount of volume business volumes, transaction volumes, amount of data you know this industry can come up with some technologies that no other industries can build up. You know. So this global assist is a great example. When AI came up, we quickly realized, you know, there's opportunity for us to bring the AI to this industry because this industry is one of the biggest industries in this country. It has one of the biggest volume of data sets across all the other industry sectors of the United States. And then we found out that we have opportunity to basically reinvent the business intelligence, the BI software solutions with AI by working with the data in this industry, because the traditional business intelligence solution software solution is basically like, for example, oracle BI products or some other SAP BI products.

Speaker 3: 26:21

They basically are very difficult to use and then they will just say if you spend $200,000, I gave you the ability you can see 15 sets of business reports like profitability reports. You know sales, margin reports or price. You know trending reports, but that's it. You know the BI software that wholesalers and distributors bought from the. You know trending reports, but that's it. You know the BI software that wholesalers and distributors bought from the. You know some like parties like Oracle, sap. They can only do a finite set of BI report and they need to be trained, not just by paying a lot of money, they also need to be trained to use that.

Speaker 3: 27:01

So the way that we use AI to reinvent the BI is that we say, okay, you know, this industry has a lot of manual data. It also has, you know, some software like Famous or Produce Pro which already did a pioneer in this industry. So, okay, we acknowledge that we just need some simple format of data, like CSV file or Excel file. We'll upload them. It can be generated by manually or you can generate it from the output of those existing ERP systems like Produce Pro or Famo, and then we upload to our AI-powered BI platform and then we can come up with a very user friendly Q&A user interface with co-sellers and distributors.

Speaker 3: 27:49

Whoever use our AI solutions. They can just type any kinds of business intelligence questions, such as last month, who is the salesman in my team who make the biggest profit for me, you know? Or last month, what's the most profitable product, you know? Or they can say give me the reports of the you know gross margin, so offer the uh of the uh, all the sku I sold last month. So so then they would get uh, you know. The two very obvious benefits compared to the traditional BI software is that they can get unlimited set of BI information and BI outputs and BI reports. And then, second is that it's very easy to use. You just type your questions.

Speaker 1: 28:35

So, Mike, also with that technology I mean, is the vision also to have it have some predictability as well? In other words, not only just pull the data of what has happened.

Speaker 3: 28:46

Exactly, yeah, prediction and forecasting, you know, based on business intelligence, you know, collected from the data.

Speaker 3: 28:54

Yeah, so that's something that this global assist technology. I honestly do not see much similar, many similar examples in other industries. This is very probably we can say we're probably the pioneers, the producing industry pioneers in doing this kind of reinvention of BI with AI. Okay, all right, we are actually going to roll out another important part of our grab assist, which is the. We hope to get it out by the beginning of next month.

Speaker 3: 29:32

I remember in 2020, we acquired a business. The business model is very simple. It's a food service company. They serve local restaurants, but the way they handle the order is that they let the restaurants call them in the afternoons which they are all out of the work, and then just they leave voicemails. And then the beginning when the food service company come to work in the morning, early morning, they will just replay all the voicemails and then they will generate the orders and then they will deliver. So the way the AI stuff we're going to roll out as part of Graphasys is that we will have an AI powered engine which will kind of grab the order data from the voicemails, from the emails, from the text messages, and then automatically generate the order. Okay, If the food service company, if they use this, then they don't need to come in the morning replay everything. The order was generated on the flight, when the restaurants call them yeah, In the afternoons or evenings.

Speaker 2: 30:38

That sounds a miserable job to have to go into your everyday work and sit there and listen to all the voicemails, all the voicemails, and that's your orders. That is not by idea of fun, yeah.

Speaker 1: 30:47

I just want to touch on, though, you know, because in the vision and you talk about AI and we can see right now in the spaces that we know, you know how AI is applicable in terms of pulling data and looking forward, but you know. So Mike started, you know, really at the home delivery piece of it, right. So, you know, when you think about the big vision, right, and you think about which was the same passion that Danny Mandel had with SunFed is, how do we get the freshest produce to the consumer right, not just to a destination warehouse or something. Really, how do you close that gap from the farm to the fork, right? How do you make that narrow?

Speaker 1: 31:25

So, with the AI technology things, like you know, we're talking about orders of voicemails from a restaurant, you know, imagine, you know, and part of the acquisitions we focus on, all the acquisitions that are fresh produce focused, I mean grubs in several different spaces in terms of the food supply chain, which I'll argue is the number one energy space right, we are in the energy business because we are fueling humans, and so, when you look at it, we're looking to the consumer in place as an order, and imagine, with AI and all the technology behind it.

Speaker 1: 32:02

Basically they write the order all the way back to the farm, kind of deal, right. And so all of that is tied together and the efficiency you get from that and the freshness that you get from that and the reduction in food waste right, because in the supply chain that exists and the efficiencies that exist today, right, because you're trying to guess what that consumer is actually going to be needing and ordering, you won't have to have so much. And quite often if you miss that projection then it winds up being food waste. Or at the consumer end, they're forced to buy more than potentially they need in the moment and on their end, because of the supply chain, the way it exists.

Speaker 1: 32:41

So again, that's the whole big picture but you start to see how technology, AI, it changes so much about, like I said, the number one energy space in the country which is fueling US consumers.

Speaker 3: 32:57

Yeah, and going back to your question of what we are trying to do in the next couple of years yeah, so we will, of course, continue to continue to learn from this industry and you know we continue to partner with a great business like PragerMeds, sunfed and many other businesses that we acquire. Yeah, we will continue to bring more you know AI technologies, more e-commerce technology, more enterprise software technologies to this industry.

Speaker 2: 33:26

All right.

Speaker 1: 33:27

Well, that's what I had. Thank you, pamela, for doing it, and thanks so much, mike. I mean again, I know you, I work with you and interact, but I think it's important and it's great now that the opportunity for folks like Pamela, folks out there in the industry that work at it every day, hopefully come away with having a little bit of perspective, and I know you're a super busy guy.

Speaker 3: 33:55

I greatly enjoy operating in this industry. Last night I traveled from McAllen, texas, and after I got off to the airport I went to one of our warehouses to do our packing, just like any regular packers.

Speaker 1: 34:13

You don't do that often, do you Mike?

Speaker 3: 34:16

I pretty much do that every business day in the evenings.

Speaker 1: 34:20

You do the hairnet the whole.

Speaker 3: 34:21

Thing yeah, I do, I do, I do sorting packing. You know, on the weekend I I went to, I go to farmer's market to do sourcing produce, you know, because I enjoy interacting with farmers and growers yeah, yeah, that's, yeah, it's a full day yeah, it's a four day, four days, yeah indeed.

Speaker 1: 34:41

So, guys, it's been great. Thank you very much. It's a beautiful spot here and, yeah, well, hopefully we'll have a chance to get together sometime in the future and do this again.

Speaker 3: 34:50

Yeah.

Speaker 1: 34:51

And for all you guys out there. I hope you enjoyed the show. Let us know if you've got some additional questions or some other exploration to do and we will certainly do our best to get back to you. But again, we will certainly do our best to get back to you. But again, thanks everybody, and we hope you enjoyed the show. We'll see you next week, Thanks, Thank you. Thank you so much.

Speaker 3: 35:18

I appreciate it.