Seafood that is changing consumers’ perception of the category

Transcript

Full transcript page · Interactive episode

============================================================
TRANSCRIPTION WITH SPEAKERS
============================================================

[00:00] SPEAKER_03: Welcome to Canada's podcast.
[00:05] SPEAKER_03: Hi everyone, I'm Phil Bliss and welcome to Canada's podcast.
[00:11] SPEAKER_03: Today we're going to meet Adam Bent.
[00:14] SPEAKER_03: Adam is co-founder and CEO of Scout Canning.
[00:17] SPEAKER_03: He's going to talk about how he successfully built a sustainable business.
[00:23] SPEAKER_03: Adam leads Scout's main mission to be the most trusted seafood brand in North America.
[00:30] SPEAKER_03: By reducing food waste and protecting our environment.
[00:34] SPEAKER_03: Scout has just announced a formula in the US dollar seed funding round
[00:40] SPEAKER_03: that should accelerate the company's only channel brand strategy and operational expansion.
[00:47] SPEAKER_03: Scout makes sustainable seafood more accessible.
[00:51] SPEAKER_03: So without further ado, let's meet Adam.
[00:55] SPEAKER_03: Adam, welcome to Canada's podcast. It's great to meet you.
[01:02] SPEAKER_03: Why don't you tell us a little bit about yourself, your journey so far, and what you're doing now basically without taking an hour to do that.
[01:16] SPEAKER_00: I'll do my best to get into this.
[01:18] SPEAKER_00: Well, yeah, good morning and thank you for having me here today. I appreciate it.
[01:22] SPEAKER_00: So my name is Adam Bent. I am currently serving as co-founder and CEO of Scout,
[01:27] SPEAKER_00: which is a seafood brand in the consumer product space.
[01:32] SPEAKER_00: My path here was an interesting one, at least to me and hopefully to others.
[01:37] SPEAKER_00: I started my entrepreneurial and I'm endeavors quite young.
[01:42] SPEAKER_00: In high school, I was always, and then before that, kind of messing around with business ideas and ended up right out of the gate building a travel brand with the three fish.
[01:52] SPEAKER_00: I was a three-founders rather than going to college university.
[01:56] SPEAKER_00: I kind of saw that as an alternative path to learn about building companies and also saw it as a way to travel and have fun and maybe avoid school for a little bit.
[02:06] SPEAKER_00: And ended up turning into the launch of my career.
[02:10] SPEAKER_00: I learned so much all the way over those six years, mostly building in kind of the student space,
[02:15] SPEAKER_00: and then we got big enough to start acquiring other travel brands and started to build a portfolio of different companies in the travel space.
[02:22] SPEAKER_00: And we're a lot of different hats and was able to jump around into different rules and got my teach cut early at a young age about how to build companies, lead teams and scale.
[02:33] SPEAKER_00: And I had always been somebody who grew up in the outdoors and camping and then grew up as an environmentalist and very climate conscious and climate oriented.
[02:44] SPEAKER_00: And I eventually found my way after the travel industry into food, which was interesting kind of pathway to get into people's relationship with food and climate.
[02:58] SPEAKER_00: And I launched Urban Spoon in the Canadian market.
[03:01] SPEAKER_00: So for the listeners, I don't remember Urban Spoon was, you know, head to head competing with Yelp and Zagat and a few other really great platforms.
[03:08] SPEAKER_00: It was very specific.
[03:11] SPEAKER_00: And we got some great scale of opportunities and I was one of the first 30 employees there.
[03:20] SPEAKER_00: And eventually we sold to the competitor, which is open table and the kind of product got chopped up and sold off to different partners.
[03:27] SPEAKER_00: But in that time, I was working with a lot of chefs, a lot of restaurant groups, a lot of media partners.
[03:32] SPEAKER_00: And even though it doesn't feel that long ago, this is when food is becoming cultural capital and chefs are becoming pop icons and really might make their way into the mainstream.
[03:43] SPEAKER_00: The food networks blowing up, we're just getting apps on smartphones now at this time.
[03:48] SPEAKER_00: So it was a really interesting moment to see how influential chefs were becoming on even influencing how consumers would eat at home or their dietary preferences and really kicking off new trends like making kale cool.
[04:02] SPEAKER_00: And so I was really good example of what was happening at that time.
[04:05] SPEAKER_00: So I was really fascinated with how the hospitality industry and chefs could influence consumer behavior and actually given the pay attention to things that they weren't paying attention to before.
[04:15] SPEAKER_00: So I took that momentum and that knowledge and went out to build a marketplace called Provener.
[04:22] SPEAKER_00: And that was backed by tech stars and real ventures at a Montreal, a couple other Canadian funds.
[04:29] SPEAKER_00: And we was all about just bringing more local food into restaurants and independent groceries that could purchase directly from producers without having to buy from distributors.
[04:39] SPEAKER_00: We were part of the first food egg tech bubble that you could call it where farm ago is expanded too fast. Good eggs is expanded into multiple markets and not to scale back.
[04:48] SPEAKER_00: So we call it kind of that first food tech bubble where there's a great appetite for investment in that space, a lot of company scale, but couldn't figure out their delivery economics or their business models to be profitable. So they had to kind of claw that and that happened to us.
[05:04] SPEAKER_00: And so I learned a lot about marketplaces between urban spoon building community and connecting dots between diners and restaurants and media partners and then bringing that knowledge over to Provener.
[05:15] SPEAKER_03: So was that by design or was that luck?
[05:18] SPEAKER_03: The knowledge of marketplaces or just like was it like you know, I want to do this and going down this road or someone's that you bumped into somebody and that's interesting.
[05:33] SPEAKER_00: I mean, you know what, I'll kind of get my hat off to LinkedIn on this. I mean, I spent six years in building the travel brand and I mean traveling all over and into eating things. I got contacted by a response from off of LinkedIn.
[05:49] SPEAKER_00: To see if I'd be interested in launching the market. And I'm at this time don't even really have technology in my radar as an industry or something that I wanted to really be working in.
[05:58] SPEAKER_00: So I did stumble into technology backs and mostly because I was contacted off of LinkedIn and I thought it was a really cool opportunity that would give me a break from the exposure that I had and then that set off my, you know, my true entrepreneurship career in technology.
[06:13] SPEAKER_00: But through a lens of food and brands and in the hospitality industry.
[06:18] SPEAKER_03: I mean, I'm interested, you know, you began your career in Ontario, you know, you don't know BC slash Canada and and also doing business in in the US.
[06:33] SPEAKER_03: And I think a lot of people that sort of building new businesses wonder, you know, how can I mean, how can I break into those big markets?
[06:47] SPEAKER_03: Is there any insight that you can give into that? I mean, you know, we're only, you know, 15% of the US market. So in general size.
[06:58] SPEAKER_03: So, you know, any any kind of advice you can give in terms of getting into the into the US and being sick more importantly being successful in the US.
[07:10] SPEAKER_00: Well, I think that would always starts with your relationships. And I wouldn't be here without the mentors, advisors, supporters that I paddle on the way and really, you know, have to underpin the value of those relationships as you move through whenever you're working on whether it's.
[07:28] SPEAKER_00: Out of founder level or employee team member level. And through your relationships and making sure that's an active part of your practice as a as a business focus person.
[07:39] SPEAKER_00: Those are eventually all no opportunities for you. And I think you risk appetite, right. So cultivate in those relationships and constantly being in touch with people working on different projects and companies and
[07:51] SPEAKER_00: being interested in what other people are doing and learning from them will naturally open up those doors.
[07:58] SPEAKER_00: And having that risk appetite, you know, not not necessarily being nervous or scared to start with a new company that might be really early stage opening a new idea knowing that it might not work out and treating business like experiments because often they are right where we're all building stuff from scratch or trying to spend the first time or trying things at the wall or entering new markets.
[08:20] SPEAKER_00: And I think your risk appetite has to be pretty high and be willing to move, which is not easy for everybody, right. For myself, I could as a single guy picking up and packing up a bag and moving to a new city or jumping into a new market on the fly is something that I have access to not the same for everybody.
[08:39] SPEAKER_00: So of course, there's the virtual pathways to do that now, but I think yeah, your relationships and the willingness to kind of move around and take those leads to faith and trying out new things and businesses.
[08:53] SPEAKER_03: What I mean, you know, you've been entrepreneurial since last school. I mean, what would you like most about being an entrepreneur?
[09:03] SPEAKER_00: What?
[09:05] SPEAKER_00: Definitely the autonomy and being able to be creative and building something new.
[09:14] SPEAKER_00: I love the first, you know, three to five years of building companies ideas products teams.
[09:22] SPEAKER_00: I find that to be the most interesting to have something from just a concept or an idea and then seeing that through commercialization launch early stage product and then traction.
[09:32] SPEAKER_00: I find that incredibly satisfying and that's what keeps me around. I don't I don't know if I'll ever be the type of, you know, founder or CEO that will want to be at the home of a company for 15, 20 years.
[09:44] SPEAKER_00: I'm not sure that's where my skill set is, but I also don't know that yet.
[09:48] SPEAKER_00: But I really, really enjoy those those first three to five years and a part of the company or the products.
[09:54] SPEAKER_03: I can almost understand, you know, you're building a sustainable seafood business.
[10:03] SPEAKER_03: There's as it said in the notes that I got about you, you know, what do you mean what are you most excited about in this business that you're in now?
[10:16] SPEAKER_00: Well, maybe to tie back to what I've been working on previously right urban spoon and then probably bring food into wholesale.
[10:25] SPEAKER_00: I learned so much about about brands and how people interact at around food and food systems. And I wanted to do something that was a break from tech.
[10:34] SPEAKER_00: And I got into consumer products, which are now actually built very similar to tech companies.
[10:40] SPEAKER_00: And when you look at product categories that have been kind of eaten up by smaller brands, you could use all bridges and example coming from market share from Nike or Casper coming from market share from, you know,
[10:53] SPEAKER_00: seamy mattresses or something like that.
[10:55] SPEAKER_00: Any of the day those companies kind of built themselves up like tech companies, but they're really product companies at the end of the day, right. They're building products, they're CPG companies.
[11:04] SPEAKER_00: And the amount of innovation that we've seen in food and beverage and consumer products from smaller brands is incredible over the last couple of years.
[11:14] SPEAKER_00: It's very easy to start a company now. There's so many tools available harder than ever to scale one. But as I was working with so many drug to consumer brands over the years before building scout.
[11:25] SPEAKER_00: So I got to look up to the hood at how all of these different companies are coming to market when they were starting online, when they were moving offline into physical retail, if they maybe just stayed as direct to consumer brands wanted to own their whole, you know, experience end to end.
[11:40] SPEAKER_00: Whether it was a big brand like Hershey's or a smaller emerging maker and Toronto launching a concept store for a month.
[11:48] SPEAKER_00: There's a lot of exposure to different product categories founders and entrepreneurs. And when I looked at seafood as a category, I was fascinated with how little innovation had happened in the last 50 years, but how big of a category it was.
[12:03] SPEAKER_00: And so seafood consumer products is a multi billion dollar market in Canada and the US.
[12:09] SPEAKER_00: But the brands that serve the category are antiquated. You know, they're very disconnected from ocean health from climate action. They built their brand platforms on the lowest pricing possible and trying to provide as much value.
[12:24] SPEAKER_00: But at the sacrifice of a lot of human rights and in the supply chain and environment degradation and supply chain.
[12:30] SPEAKER_00: So those are the motivators for me emotionally to really want to come in and be a challenger brand in the space.
[12:36] SPEAKER_00: But also that's because what consumers want now, millennials, Gen Z's and the big part of the rest of the older generations now pay a lot more attention.
[12:44] SPEAKER_00: They want to be supporting responsible brands.
[12:47] SPEAKER_03: It sounds like the food business is kind of going the way of the craft brewing business, which was sort of dominated by global brands, then all of a sudden these new brands coming up.
[13:06] SPEAKER_03: Is that going to be the picture of the food business for the next 25 years?
[13:13] SPEAKER_00: It's a great analogy. It's actually one that I use often even in our space because we're focused right now on on Tennessee food.
[13:19] SPEAKER_00: It's shop like wine or it's shop like craft beer. There's, you know, the taste of place amazing variety producers globally all working on on different varieties.
[13:30] SPEAKER_00: And the way that those products are marketed are all about craftsmanship and more of an art is in lower scale process.
[13:37] SPEAKER_00: So the market's certainly more crowded now. Like I said, it's easier to start a brand. It is harder to scale one because everybody wants to start a brand and everyone wants to have company now.
[13:46] SPEAKER_00: And that's great. We want to see that level of innovation and competitiveness in the market.
[13:51] SPEAKER_00: But there because there are so many tools available to launch now, you know, we do see a crowd of marketplace. So a lot of copy cats, right. People will come in and see a brand or a new product that they being successful in the US and then they'll race to recreate it in Canada.
[14:05] SPEAKER_00: We saw that with mattresses, right. How many mattress companies you don't have enough fingers to count how many mattress companies exist. So one thing that it does do those is you get a lot of copy cats rather than it pushing innovation.
[14:20] SPEAKER_00: But yeah, the food and beverage space is, you know, it's a great space. You see some of the same level of exits that you do in big tech, you know, brand like our X bar.
[14:29] SPEAKER_00: You know, they reinvented the granola bar and exit to Kellogg's for $400 million.
[14:35] SPEAKER_00: These are big, big companies now. And if you can hit the right brand experience and product category, you know, the consumer market, it's big. So there's appetite there. There's a lot of investment there.
[14:49] SPEAKER_00: The BC ecosystem is fully developed now for consumer package goods. There's, you know, well over, I would say 80 to 100 funds in the US alone just focused on consumer products. So it's very developed now.
[15:02] SPEAKER_03: You obviously overcome a lot of challenges you built built a few business or help build a few businesses. We never build it on our own.
[15:13] SPEAKER_03: What do you know, do you have a kind of way of approach and overcoming challenge process that you've developed. When you hit a wall.
[15:28] SPEAKER_03: You know, how do you get around it? How do you get over it? How do you get through it?
[15:32] SPEAKER_00: Like everything experience. I've been firefighting and dealing with scale up issues and emergencies and challenges right out of the gate from 17 and you just learn a lot about resilience and trying to stay calm.
[15:50] SPEAKER_00: Think about optionality.
[15:53] SPEAKER_00: You know, don't don't let that fear the anxiety, the stress kind of overcome your ability to make decisions and still operating in a space where it's okay to fail.
[16:03] SPEAKER_00: I think we all play such, you know, of course, you don't want to fail. We all want to be successful, but you're operating from place understanding your business is still an experiment. You're doing the best you can. You're trying to make the right decisions all the time.
[16:13] SPEAKER_00: But this isn't a guaranteed outcome. Then you can go a little bit easier on yourself. And I think that perspective shift for me has really helped me over time.
[16:22] SPEAKER_00: Of course, you're responsible to your team members, your shareholders, your partners, your suppliers. There's a lot there. So it's easier said than done. But ultimately, operating from, you know, the space that you're doing the best that you can to make this business successful. And ultimately, if it were easy, everybody else would do it.
[16:43] SPEAKER_00: Yeah. And communication, you know, communication and empathy are two of my, you know, big levers when it comes to leadership.
[16:53] SPEAKER_00: I like to listen, like to really chat things out. Maybe I like to have too many meetings sometimes about things, but I really appreciate over communicating, especially in the early days. So things are a bit more structured.
[17:06] SPEAKER_00: And being empathetic, making sure that team members, opinions, voices are heard and their contributions acknowledged.
[17:13] SPEAKER_00: Because like you just said, these companies are not built alone. And your team members are everything. And without them, you're not going to have a company. So they're your biggest asset and biggest priority. And always treating team as the number one foundation to you to building these companies.
[17:31] SPEAKER_03: You know, you talked a little bit about earlier about mentorship, you know, what's the best piece of advice that you've received that you kind of stays with you.
[17:42] SPEAKER_03: That you know, it's there.
[17:46] SPEAKER_00: Always be recruiting. I hate to always be closing thing because I think that's a little tacky now and outdated, but.
[17:54] SPEAKER_00: I'm at C100 in San Francisco years ago. I forget who the CEO of the CEO, she was awesome and she was just talking about, again, like relationships and just always be recruiting.
[18:06] SPEAKER_00: You are constantly going to be needing to grow your team and scale. And the more people that you're meeting, the more relationships you're developing, you want to be attracting people constantly to you and your company, whether it's the right time to be hiring them or not.
[18:19] SPEAKER_00: So I, again, operate from that mentality. I'm always looking for, you know, learning opportunities, learning from others around me, making those relationships.
[18:30] SPEAKER_00: Because I want to be able to recruit some really smart people into my team, this is the right time.
[18:35] SPEAKER_00: It's always having that mentality at any event, networking opportunity online, meeting friends at dinner, that kind of thing. And that that advice has served me really well for all my way.
[18:45] SPEAKER_03: You know, you work with a lot of people. I mean, are entrepreneurs kind of wired differently? I mean, you know, the you, you know, then some of the people around you.
[19:03] SPEAKER_00: I don't know. I don't want to make it sound like we're special. You know, I think that you definitely have hard risk appetite. We're willing to put everything on the line to try something new.
[19:11] SPEAKER_00: And that's not something that everybody feels very comfortable doing or has the opportunity to do. If there you have quite a few personal commitments in their life, recognize that.
[19:22] SPEAKER_00: And yeah, I think I often think about us as creatives to I'm not sure of entrepreneurship is maybe perceived that way from a lot of people, but, you know, I have friends that are designers, some of them make video games and some of them are artists and musicians.
[19:37] SPEAKER_00: And my brain kind of operates that way too. I think of business as we're trying things new or experimenting. We're working with others, we're communicating. And I find it to be a very, very creative process. So I sometimes identify more with creatives than I would with an analyst that can sift through business, you know, worksheets or Excel files for three hours telling me from my my financial performances.
[20:03] SPEAKER_00: And this is that.
[20:06] SPEAKER_03: So following on to that, so that that's that was a really good session in terms of some, some, some, some.
[20:14] SPEAKER_01: I think you know, if you had to pick one word to describe yourself, what would it be?
[20:21] SPEAKER_01: Why?
[20:23] SPEAKER_02: Resilient comes to mind right away.
[20:26] SPEAKER_00: You know, the previous companies that I mentioned, the ones that I worked for were bought or sold and the ones I built myself had problems with scale, some of them exited at a way, way, way lower than what they were worth.
[20:39] SPEAKER_00: We wanted them to be in others failed.
[20:42] SPEAKER_00: And I'm so proud of everything that I've worked on regardless of those outcomes that were necessarily what we wanted or what I wanted.
[20:48] SPEAKER_00: It is part of the journey of just kind of learning from that, learning everything you can, taking everything you can away from it, and then channeling all that energy and outlearning into the next thing that you're building.
[21:00] SPEAKER_00: And I don't like the word serial entrepreneur.
[21:03] SPEAKER_00: And again, I think it's another kind of tacky one that we've all co-opted.
[21:06] SPEAKER_00: Yeah.
[21:07] SPEAKER_00: But there is some meaning behind that, right? For somebody who just kind of keeps going and keeps trying new things.
[21:11] SPEAKER_00: And I really admire that from other entrepreneurs that I've seen, whether they've been successful or they've failed before, when they just keep on.
[21:20] SPEAKER_03: I told me that.
[21:22] SPEAKER_03: And I said, no, I'm a serial entrepreneur.
[21:24] SPEAKER_03: I worked for my own business forever.
[21:30] SPEAKER_03: And I've bought and sold six companies, closed a few of them as well.
[21:39] SPEAKER_00: When I try to explain to my grandmother what I think you're in travel for.
[21:43] SPEAKER_00: And you're in this restaurant, you know, tech, hospitality system.
[21:47] SPEAKER_00: And now you're in canned fish.
[21:48] SPEAKER_00: Like, how do I, how do I connect the dots here?
[21:51] SPEAKER_00: But that's what entrepreneurship is.
[21:54] SPEAKER_00: It's just kind of going through and figuring out how to work for yourself and create value and bring some meaning into the world.
[22:03] SPEAKER_03: Maybe a morning or a night person.
[22:06] SPEAKER_00: I'm a night person, but I'm becoming more of a morning person.
[22:09] SPEAKER_00: I'm in this strange shift now in my life where I love waking up early.
[22:14] SPEAKER_00: And I'm going to bed a lot earlier, but man, a couple of years ago, like I, you know, I'm definitely up to 12, one.
[22:20] SPEAKER_00: And then maybe up at like 830, you four, perhaps we have to be up, but it's shifting.
[22:26] SPEAKER_00: I mean, I think with age, I guess.
[22:27] SPEAKER_03: Well, I'm older than you, but I've always been.
[22:30] SPEAKER_03: You know, you know, some way between five and six o'clock in the morning, guys.
[22:35] SPEAKER_00: But you got me up at seven a.m. this morning for this.
[22:38] SPEAKER_00: So there's.
[22:43] SPEAKER_03: What book are you reading?
[22:46] SPEAKER_03: Podcast you're listening to that, you know, that, that kind of thing at the moment.
[22:52] SPEAKER_00: Yeah. So I.
[22:54] SPEAKER_00: I'm very like I said, climate conscious and I'm doing I do a lot of reading around our climate action climate change.
[23:03] SPEAKER_00: Right now I'm reading a book called All We Can Save, which is by doctor Angel and Jelena Elizabeth.
[23:10] SPEAKER_00: Oh, I'm going to butcher her last name, but it's a fantastic book. It's a collection of different essays and thought leadership pieces all around the capabilities that we have.
[23:24] SPEAKER_00: To actually save the planet, the planet and the climate emergency that we're in right now.
[23:29] SPEAKER_00: And I like to balance out a little bit of the real world stuff with, you know, a little bit more of the fantastical.
[23:35] SPEAKER_00: But even in the fantastical things that I read, it's actually still climate fiction.
[23:38] SPEAKER_00: So it's a genre where it talks about, you know, more of a sci-fi post apocalyptic world after the climate disasters wiped out a lot of humanity.
[23:48] SPEAKER_00: I hear the in there's tons of books in that genre and I find it fascinating to read those and then also read some of my real world books around climate change.
[23:57] SPEAKER_00: But I find it very motivating and something that really gets me up every morning and part of what we're really trying to do with our brand.
[24:04] SPEAKER_03: So what advice would you give an entrepreneur or someone that's, you know, taking that first step into entrepreneurship.
[24:14] SPEAKER_03: This can start a business. What advice would you give them?
[24:22] SPEAKER_00: A balanced approach to, you know, having that spirit of continuous learning and trying to absorb as much information.
[24:31] SPEAKER_00: And also having enough conviction in your own idea of when to maybe be more stubborn and to push back on those who might know more than you.
[24:41] SPEAKER_00: I think if you have a lot of conviction for what you're doing, I think early on when you're getting started, there's a lot of people who are going to want to help.
[24:46] SPEAKER_00: There's a lot of opinions and a lot of hands in the cookie jar and you need that.
[24:50] SPEAKER_00: You need that network, those people to push you and to learn and to grow and to learn from their own mistakes or achievements.
[24:57] SPEAKER_00: But you still have to balance it out with your own conviction of what you're working on because you need to humbly know more about your product and your idea, be able to defend it.
[25:08] SPEAKER_00: Not to the point that it's unreasonable, but you need to continue to have the conviction that what you're working on will work and to stick to it while still being really open and receptive to those feedback.
[25:17] SPEAKER_00: You're pushing you because you'll get shot down by a ton of investors and, you know, you'll have other former founders that are trying to work on a similar business model, tell you that it's impossible.
[25:26] SPEAKER_00: It's a horrible idea and you should give up and try something else and you're getting a lot of that background noise and various in loops of feedback.
[25:32] SPEAKER_00: So it's kind of a disbalance within yourself of having that kind of the conviction and then knowing when to really be open and receptive to learning and the feedback and using that to balance out how you're building a company.
[25:47] SPEAKER_03: Interesting. Adam, we're at the end of our time here.
[25:50] SPEAKER_03: I really, it's been great. Sorry to get you up to early, but no problem.
[25:55] SPEAKER_03: I'm not that sorry.
[25:56] SPEAKER_03: I'm up there.
[25:58] SPEAKER_00: I heard the whole morning ahead of you now to do some great and some great.
[26:01] SPEAKER_03: How can people get a hold of you and say here's something that's quite often happens.
[26:08] SPEAKER_03: You know, they hear something and they want, they want to kind of get a hold of you to chat about it kind of thing.
[26:13] SPEAKER_03: Get some insights.
[26:14] SPEAKER_03: That's why they got hold of you.
[26:16] SPEAKER_00: So I actually keep every Friday after you know, I'm going to talk with other people and that's kind of my end of week.
[26:22] SPEAKER_00: Richie, well, I really look forward to and you're welcome to reach out to me on LinkedIn.
[26:26] SPEAKER_00: So it's Adam vent or my you know, it's Adam at scalecanny.com and I'd love to chat with anybody who wants to do them out.
[26:35] SPEAKER_03: That's really great. Adam, thanks very much for coming on on kind of this podcast really, really been an interesting section.
[26:43] SPEAKER_03: Thank you. Thanks for having me.
[26:44] SPEAKER_03: Thank you.
[26:45] Speaker UNKNOWN: