Do the celebrities help the startups or do the startups help the celebrities?
So this week. We saw that josh richards. Who is a tiktok star previously of the sway house which is one of the many tiktok mansions that have kind of popped up over los angeles as influence or homes. Josh richards is joining remiss capital and early stage venture firm as a venture partner. And as i'm sure we will get into not super nudist see celebrities get into venture space. They have huge reach. They can do a lot for especially consumer businesses with a simple instagram story. And so maybe the place to start with with the josh richards. Conversation is like really bullish on this transition. What would we say like what is good about this transition and then we can make the jokes because i know there will be jokes. But let's start with why this makes sense. Alex i okay. I have been critical in the past of celebrity investing. Because it's always struck me as little bit frivolous but i think that's because i underestimated the cultural impact of people of the moment and according to iverson will group text that i'm on with my friends. Talk is the thing. So if you are an enormous star in the tiktok world getting you involved with the company makes a lot of sense and my thought here is that i think in the old as we go to see more endorsements opposed to investments. You know you'd say like we're going to get you know josh richards or charlie delio or bryce. I'm reading the notes price hall to endorse your party to the long tail of knowledge for tiktok star. I see tiktok. But i don't know who the people are because i'm not cool at all but i think now with took being so popular and having so much cultural resonance with people that are out there using their dollars so in mark influence. It's probably reasonable that these people are going from being endorsers to be invested because once they have more money themselves and they have enough power deployed demand a seat at the table to get some ups. I did a piece of the pie. So i want to make jokes but i won't. I'll just say that in the past celebrity has had a mixed track record. But in this case. I think bringing attention via celebrity and tiktok makes sense. Okay danny leterrier pros and cons. And then i will finish this off. I think the big question is always do. The celebrities helped startup or the startups helped the celebrities. I think some celebrities have made a lot of money on their investments by think in many ways celebrities get access and in in many ways. I'm not sure they actually create the value for these companies. But because of the celebrity status they sort of get an allocation the otherwise it wouldn't have been able to get you know obviously if you're having a startup the targets gen z. Tiktok is the platform to go about do that. I just don't think it helps anyone else you know i. I just think about the company's like okay. Let's let's hope about sky flow. You know this is the polymorphic. Encryption data security company. Get josh richards to help. On what i'm kidding. Of course not so its seat and that's ultimately like you know. I think it's always about these brand plays. I'm in new york. We have a ton of successful brand plays because of the so like may richards endorses bro. And its next round and is like the the next to the guy in the commercials. I forget which the famous movie stars was on there. No one knows that this group. We're not that demographic. Danny this is where the show. We're just taking a right to the gutter. I think they're definitely serves. They can use this. I think it's fine to venture partner. Josh has been very entrepreneurial and getting a bunch of stuff out there. But what i've heard. The guy makes f ton of money saving our producers gave them work there but a ton of money doing all these sponsorship deals. I think it's fine. I just think we have to like not change coverage and we focused on in which companies make money based on which celebrities are attached to which companies like. It's always good to go back to the dollars and sense and so. I don't think it changes what we do here at techcrunch. I'm certainly not going to cover story. I actually been pitched stories. That are like gosh. Richards has invested in this company. I was like. I don't know who that is. Take this to not work in my experience talking to celebrities in and around technology events. More broadly i talked to a former doctor who about surface once that was a fiasco but i did. Enjoy my child with jared leto at a boxing event because one. I got to take a picture with him. I was topless now funny and to he actually had some pretty good he is about starts so i think there is the occasional investor who's also celebrity. Who can do some reasonable things. I'm curious to see how this bears out. Ashton kutcher is investments. Have been up and down. So we'll see. But i'm not going to be dismissive of the kids.