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The founder of Bai sees alcohol's next revolution

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The founder of Bai sees alcohol's next revolution

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845 segments

0:00

To build these [music] things, you got

0:01

to give up yourself. What does failure

0:03

look like? Failure is every day. I don't

0:05

fear a failure, but I don't fail twice.

0:07

Question is, what does success [music]

0:08

look like? Cuz you fail, you fail, you

0:09

fail. And then

0:14

Welcome to a new episode of Power

0:16

Players. Uh really excited for my next

0:17

guest in large part because I've been

0:19

drinking uh the products he created out

0:22

of his basement for years. It's Ben

0:24

Weiss uh by founder. I'm so good to see.

0:27

So good to see you. Crook [snorts] and

0:28

Marker is a new company.

0:30

>> Yeah. Yeah. We made the leap over into

0:32

beer.

0:32

>> Yeah. Okay. I I

0:34

>> If you do that,

0:35

>> no, if you do that, like for those not

0:37

familiar with your story,

0:38

>> where did you found by?

0:40

>> So, we're out of Princeton, New Jersey.

0:42

So, we're fairly local. Uh,

0:44

>> you know, I came out of the coffee

0:46

industry. I was kind of a coffee geek.

0:48

Uh, and I just discovered the fruit of

0:50

the coffee bean was packed with

0:51

antioxidants and polyphenols. And I just

0:52

wanted to make a drink that tasted good

0:54

that used this really unique ingredient.

0:57

Uh so I created by and it was powered by

1:00

the coffee fruit and I thought that was

1:01

a really cool no novel idea. Uh I think

1:04

I might have been the only person that

1:05

thought that was a cool novel idea. Uh

1:07

it's not why by became by. Uh but it is

1:10

why you know Ben Weiss created by. Um so

1:13

it was my starting point my my jumping

1:15

off point. Uh it was my connectivity to

1:17

the brand. Uh but ultimately it was also

1:20

a confusing and an alienating message to

1:21

put on a beverage. People had to unpack

1:23

that and it was really getting in the

1:25

way with what was really true innovation

1:28

which is how do you deliver low calorie

1:30

with great taste and nothing artificial

1:32

and

1:32

>> where the names come from

1:35

>> honestly you know

1:37

it came from a couch with me my wife and

1:40

my two kids who were 10 and six at the

1:41

time [snorts]

1:42

>> trying to come up with names. I mean it

1:43

it is the story that you hear so often

1:46

like we spent an afternoon just coming

1:48

up with cool names for a drink that

1:49

would use the coffee fruit and what by

1:52

means is it means pure and white and

1:54

mandarin but it also became an acronym

1:56

botanical antioxidant uh infusion.

1:59

>> I didn't know that.

2:00

>> And I like that it's a triple antandra

2:01

because Brian it's also it's the

2:03

byproduct of the coffee harvest that

2:05

gets thrown away.

2:06

>> So you know I thought we nailed the

2:08

name. Now I say that and I think the

2:11

name was a challenge all along because I

2:13

don't think anybody knows how to

2:14

pronounce it. Even to this day when

2:15

people ask what do you do? What have you

2:17

done? And I mentioned by you don't get

2:19

that connection and then I'm just like

2:21

this you know I show a picture

2:22

>> show the bottle

2:23

>> and like oh I drink that all the time.

2:24

Coconut's my favorite drink. I still

2:26

drink it.

2:27

>> They don't get it by name. And I think

2:30

that genuinely was a challenge with the

2:32

name. I think people didn't understand

2:33

how to pronounce it. They used to call

2:35

it ba or bae or by

2:37

>> I I used to call it bay. Right. Sorry.

2:40

>> So, as a result, I spent a lot of money

2:42

doing a Super Bowl commercial with with

2:44

Justin Timberlake

2:45

>> and I borrowed his song, Bye bye bye uh

2:48

as a way to just drill home. This is how

2:50

it's pronounced. Uh whether that worked

2:52

or not, I don't know.

2:53

>> I I recently had a I'm going to tie us

2:54

all together in a second, I promise. So,

2:56

I recently had a good podcast with uh

2:58

the founder of Taser, Rick Smith. uh

3:01

1993 he basically created the taser out

3:04

of his out of his house and he went door

3:06

todo

3:07

>> to sell these tasers and like drive

3:09

awareness. How did you get out of that

3:10

what the townhouse and get these

3:13

operations going? Nothing really ex I

3:16

mean you didn't have this business

3:17

before.

3:17

>> No, no, I didn't have a townhouse either

3:19

before I grew up I didn't grow up I

3:21

raised my son and his early years right

3:24

here for you the first 10 years in New

3:25

York. Mhm.

3:26

>> Um so to go into a townhouse that was a

3:28

mansion like going from a 600 foot

3:30

apartment

3:31

>> which was a studio that became a

3:32

onebedroom that became a two-bedroom.

3:35

>> So we moved out uh to the suburbs and we

3:38

got this townhouse and in that townhouse

3:40

uh is where in the basement I was able

3:42

to uh you know conceive this idea of of

3:46

a beverage called bine. And literally I

3:49

would like a mad scientist. I would come

3:51

out and you know when when my kids would

3:53

get off the off the bus and all their

3:55

friends were out I' I'd have them

3:56

tasting probably doesn't sound very

3:58

appropriate but I'd give them a little

3:59

taste of what you think. What do you

4:00

think? Give

4:01

>> us a try.

4:01

>> And uh that that's how it started. Very

4:03

humble beginnings in the basement. I

4:05

wrote a book called Basement Mentality.

4:07

>> Yep.

4:07

>> Uh and really that's about you not just

4:10

starting in a humble environment but

4:12

what's the mentality you take out of

4:13

that and and and you you bring it with

4:16

you throughout the journey. And we call

4:17

that a base mentality. You know, it's

4:19

about being scrappy, motivated,

4:20

tenacious, uh, and maintaining the fact

4:23

that you're tethered to a big idea in

4:26

very you got a starting point, you got a

4:28

big idea, and you're going to be

4:29

challenged the whole way.

4:30

>> And the only time that that wind is not

4:33

in your face is if you go in the

4:35

basement and just say, "All right,

4:36

there's no wind here." Is that big idea

4:39

still a really good idea? Because I'm

4:41

starting to feel the pressures of maybe

4:43

it not being right. And that whether

4:45

it's buy or whether it's crooked marker

4:47

and crooked pop or any beverage for the

4:50

you know for the most part they come out

4:52

broken you know they're never you know

4:54

happy coming out like a baby they they

4:56

kick they scream they cry then come out

4:58

mom hey dad um your job is to raise it

5:01

your job is to make those appropriate

5:02

pivots and figure out you know how do I

5:04

stay m you know tethered to the big idea

5:06

because for me without a big idea I

5:08

don't know why I'm doing it it's just a

5:09

lot of work right um so that's important

5:12

staying tethered to

5:14

Managing the dilution along the way I

5:16

think is very important. I talked to a

5:17

lot of entrepreneurs about that. It's

5:18

like okay I'm going to take this journey

5:20

but it's a journey of dilution right at

5:22

one point I owned 100% of buy. That's

5:24

never going to be the case especially in

5:25

beverage.

5:25

>> So to give a piece away to raise the

5:27

money needed.

5:28

>> Yeah. So how do you do that and still

5:30

you know have enough foresight to know

5:32

that okay I want to go here and when I

5:34

get there what do what do I want to look

5:37

like in in that point in time right? cuz

5:40

you know I'm 39 years old here and I'm

5:42

not making what my friends are making.

5:43

I'm sacrificing. I'm living in you know

5:45

a small little townhouse. Like so if

5:47

you're going to take on the

5:49

responsibility of dreaming big but

5:52

willing to act small in order to get

5:54

there going door to door. I mean that's

5:56

very much what we did. Um you you better

5:59

be tethered right? At least that's my my

6:01

experience

6:02

>> for you. Where did where does that

6:04

scrappingness come from?

6:07

I think it's just my personality. People

6:10

ask, you know, can you make, you know,

6:12

is an entrepreneur made or born that

6:13

way? I think there is a part of the

6:16

entrepreneurs's mindset that you just

6:17

have, right?

6:19

>> Um

6:21

being able to withstand that mindset in

6:23

in in light of all the because you're

6:26

constantly being told, "Oh, no, this is

6:28

not going to work. Can't do it. Go do

6:30

something else."

6:30

>> 100%. So, how do you shepherd this idea

6:33

as an entrepreneur? How do you maintain

6:35

that mindset? How are you scrappy? How

6:37

do you maintain a motivation for what

6:39

you're doing? How you being tenacious in

6:42

light of all that? And I think that's

6:43

where the entrepreneurs are are really

6:44

born. I think a lot of people have the

6:46

mindset, but when they get tested, the

6:49

real it's like the endurance like how

6:51

long can you maintain that mindset

6:54

even though everybody's telling you go

6:56

get a job?

6:57

>> How did you know you had something hit

7:01

worthy on your hands? Was it handing out

7:02

those samples and the kids loved it or

7:04

that first person who gave you money?

7:07

>> No, I had checkpoints along the way like

7:08

if I don't if this doesn't work, I

7:10

probably should rethink things. U but

7:12

nothing that said this is going to be a

7:14

$2 billion exit. Oh yeah, I got it.

7:17

>> At a certain point in the journey and

7:18

it's usually tied to distribution when

7:20

you starting to get some distribution

7:22

equity and you realize like this thing's

7:24

getting bigger than me. Um then the job

7:27

of the CEO and the entrepreneur and the

7:29

founder is just don't screw it up.

7:31

>> You know there were there was a point in

7:33

time where I'm like my job became not to

7:35

screw this thing up. And you want to get

7:36

there like you want to be conscious of

7:38

that and you want to get there and you

7:40

want to be challenged by that. You want

7:41

to be fearful that you are going to

7:42

screw it up. But that's when you know

7:44

you got to winner doesn't mean you're

7:46

going to go you know ultimately you know

7:47

to sell for $1.7 billion requires a lot

7:50

of luck too and a lot of timing and a

7:52

lot of circumstances. So you dream that

7:55

you dream big and if you're not dreaming

7:57

that then uh what are you doing? But a

8:00

lot has to happen.

8:01

>> How did you get that early team in the

8:04

books? Because look, you an

8:06

entrepreneur. You're starting this

8:07

business from the ground. You have to

8:08

have early believers in you.

8:11

>> Yeah. You ask your dad

8:12

>> Yeah.

8:12

>> to go sell for free.

8:14

>> You ask your sister to go do your

8:17

accounting for free, you know, and do

8:19

your marketing for free,

8:20

>> you know. You go and you ask your wife

8:23

to you know support you on this journey

8:26

right and then you just go with the

8:30

people you trust and then along the way

8:33

you find people most of whom you're

8:36

dreaming for right this is my dream you

8:39

think maybe I can get there you're going

8:40

to come along and then every once in a

8:43

while you you find someone that that

8:45

dreams alongside you like okay I need

8:48

you see it as close you know almost as

8:50

clear as I do and you're a driver now

8:53

>> and you start to collect people like

8:55

that and you're lucky if you get a few

8:57

like they're they're you know they're

9:00

rare. I was very fortunate and I think

9:02

the brand helps right if the brand is

9:05

easier to believe in the entrepreneur is

9:07

easier to believe in right so I think

9:09

you have to have the combination of both

9:10

but early on I think they're betting on

9:13

the jockey more than the horse. Did you

9:15

ever did you create this business

9:17

thinking you were an ass at some point?

9:19

>> Yeah.

9:21

I design it so that it it it should be

9:23

sold. I'm not driven by selling it. I'm

9:26

not driven by the money. Uh but I'm

9:28

driven to create something that somebody

9:30

else will want. Meaning I have to build

9:33

it the right way. Like in this

9:36

initiative with with uh Qriket Pop, I've

9:38

spent a lot of time and a lot of money

9:40

uh creating an alcohol that lives as a

9:43

ferment regulated as a beer. Even though

9:46

beer, you don't want to go near it in

9:48

terms of its decline.

9:50

>> And everyone's looking at vodka based

9:52

RTDs and THC drinks or or not drinking

9:56

at all. And I'm the guy that says the

9:58

whites space lives as a ferment. If you

10:01

can create a premium experience there

10:04

that consumers can trust,

10:06

the the whole session of build kind of

10:09

low ABV game is built for fermentation,

10:11

not for distillation. So, you know, you

10:14

got to build it right. And I know that

10:16

if I build this right, it's going to be

10:18

highly valuable. It's harder, though.

10:20

That's the name Crooked, by the way.

10:21

Crooked is all about the the path that

10:24

nobody takes. It's the not the straight

10:26

and narrow, right? So, everything we do

10:27

is hard. Like, we made it organic, USD

10:30

organic. That's hard. We make it with

10:31

ancient grains. That's hard, right? We

10:34

do it with zero sugar. Everything is

10:35

hard. But I you do hard in order to

10:38

achieve different, right? So, that keeps

10:40

you off the straight and narrow for a

10:42

while. like you're like, "Where is this

10:44

brand?" Well, it's over there trying to

10:45

do it right because when it re-enters,

10:47

you want to have something that's truly

10:49

different, welltimed, and answers a

10:52

dilemma. And that's where I think I'm so

10:54

excited about Crooked Pop because

10:57

Crooked Pop has put in the effort to be

10:59

different. It lives in a part of the

11:02

industry where it should live, where

11:04

nobody else is trying to win. Um, and I

11:08

think the timing is great because you

11:10

know the whole modern soda movement

11:12

exists in non-al. It doesn't exist in

11:14

alcohol. So we're very we have first

11:15

mover status here. So I transition to

11:19

cricket pop just for a reason because

11:20

it's really like this is the part of the

11:22

journey when you talk about pivots when

11:23

you talk about you know maintaining a

11:25

vision tethered to a big idea like

11:29

>> that's costly that's timely that takes

11:31

you know a lot of endurance it takes a

11:33

lot of belief in what you're doing um

11:36

but when you get there like I truly feel

11:39

I'm driving a unique vehicle today in a

11:42

sea of sameness I mean beverage industry

11:44

is [snorts] brutal

11:45

>> brutal and it's it's A it's a sea of

11:47

sameness. There's a lot of

11:49

>> just fancy

11:50

>> different packaging.

11:51

>> Yeah.

11:51

>> Yeah.

11:52

>> That's it.

11:52

>> But the ones that truly make something

11:54

different are the ones that break

11:55

through.

11:56

>> That day you officially sold by. How

12:00

surreal was that for you?

12:02

>> Uh lost my best friend, right? By was my

12:05

best friend. Uh so giving it up was

12:09

hard. Uh my kids, my family, my wife

12:12

grew up with my parents. It was a part

12:14

of all of our lives. So it was more than

12:16

a business. It was more than a brand. Um

12:20

very prepared to sell it. It had to be

12:22

sold, right? Why is that?

12:24

>> Because I was challenging the industry

12:26

too much. And [snorts] you know, the

12:28

person who bought it needed to love it

12:30

enough to grow it as I could only grow

12:32

it so much, right? As an entrepreneur,

12:34

I'm never going to 10x [snorts] what I

12:36

was able to do. Uh you got to hand it to

12:38

one of the behemoths and you got to hope

12:40

that they love it as much as you do. Um,

12:43

and that's a big, you know, it's a big

12:44

hope. Uh, so it was a sad day. It was a

12:47

surreal day. Uh, obviously a

12:49

life-changing day. You know, I was never

12:52

about the money. Never made a lot of

12:53

money. And now, you know, I'm about to

12:57

live a different life. And I remember

12:59

the day we sold the four of us, my

13:02

family, we we

13:04

>> we had since moved out of the townhouse.

13:06

Yeah. We bought I said we bought that we

13:08

built the house that I built, right? So,

13:09

we built this beautiful house in

13:11

Princeton and uh we specifically drove

13:14

past the townhouse which was owned by

13:16

somebody else at that point. And you

13:18

know, it was on our way to the office to

13:21

let everybody know that somebody just

13:24

bought us. And um and we couldn't even

13:27

tell I couldn't tell people that I sold

13:30

it. I told them I put it up for adoption

13:32

and somebody adopted it.

13:33

>> And right in front of us all along was

13:36

the person who I wanted to adopt our

13:37

baby, which was Dr. Pepper Snapple

13:39

Group, [snorts] specifically Larry

13:40

Young, their CEO. Um, and I was very

13:44

proud. I was proud, sad, but proud uh of

13:48

where it was headed. Um, but that that

13:51

was a surreal day. You just spending a

13:54

brief time with you. I've never met you

13:55

before, talked to you before. I'm

13:56

getting your entrepreneurial vibes. Like

13:58

I I get it. I get it. Is it hard to have

14:01

those vibes inside of a giant company

14:03

like a Dr. Pepper? So, Dr. Pepper

14:06

Snapple Group.

14:08

So after I sold um I had a very close

14:12

relationship with their CEO. He's like a

14:14

mentor to me and we developed a like a

14:17

very close relationship and uh he wanted

14:19

me to stay on and I was more than happy

14:21

to because I felt there was still work

14:23

to be done but now as partners gave me

14:26

the title I kid you not of uh chief

14:28

disruptive officer.

14:30

>> That was my title. I had a card

14:31

>> and I go Larry that does not have a good

14:34

ending. That title will not have a good

14:35

ending. and he just wanted me to be me.

14:38

Well, that guy lasted five months and

14:41

it's not like I with intent tried to

14:43

disrupt

14:44

>> the stock. I wanted I don't know if you

14:45

remember it went down about 2.2% on the

14:48

day of that announcement. I went back to

14:49

my old publication, the street and we

14:51

actually wrote about it. Give me five.

14:52

Give me five.

14:52

>> Come on, do my research.

14:53

>> I that's that's good research.

14:55

>> Yep.

14:56

>> I think I was the only person that knew

14:57

that because I cared and it was a good

14:59

moment like to feel that. But the you

15:01

know,

15:03

>> but it it had to happen. I was a square

15:07

peg in a round hole, right? And I was

15:10

just not uh I was not in agreement of a

15:14

lot of the decisions that we were about

15:15

to make. Um so I just wasn't the right

15:19

person for the job. And that's a shame

15:20

because I did do this with the right

15:22

intent. Like I thought we were going to

15:23

do some big things together.

15:25

>> When you walk down the supermarket

15:26

supermarkets and see that product, like

15:28

what do you think? Um,

15:32

I think all the

15:34

the crooked decisions I made to make

15:37

that brand truly different uh paid off

15:40

because it's now in culture, right?

15:43

Could it always be bigger? I think they

15:44

could have done more with it. I think

15:46

they they do I agree with everything

15:48

that

15:48

>> Yeah. Um,

15:49

>> from the outsider looking in or looking

15:51

through the earnings calls like yes,

15:52

>> but they don't have a Ben Weiss. And I

15:54

only mean that, you know, I out love my

15:57

products. Like when I talk to anybody

15:59

about my product, I love it more than

16:00

you love it.

16:01

>> And that was always the case to the to

16:03

the last day, right? That's my job. And

16:06

it's not a it's not stick. It's the

16:07

truth. I truly have a vision for it. You

16:09

do not you don't have it. Um and that

16:13

always keeps the brand pushing, pushing,

16:15

pushing. And when you remove that,

16:18

you've removed the life force of the

16:20

brand. And it doesn't mean it can't

16:22

work. And it doesn't mean that it needs

16:24

me, but it needs a life force. Um, at a

16:28

certain point, it takes on a life of its

16:29

own, the brand, and and that's a sign

16:32

that you did a good job. It's like

16:33

raising kids, like you you want it to

16:35

not depend upon you. Um, but if you just

16:40

rip it out and and it's still growing

16:42

and it's still maturing, uh, you're

16:45

going to you're going to stunt it. And

16:47

so, I think that stunted the brand a

16:48

little bit, but and then listen, Dr. the

16:51

pepper went on and sold their company.

16:53

So that also didn't help. If if buy

16:55

ever, this is not me being ridiculous.

16:57

If it ever came up for sale again, would

16:59

you buy? And I asked that because I see

17:01

the challenges that Coca-Cola has had uh

17:04

with body armor. I've seen the write

17:07

downs PepsiCo has taken on some of the

17:08

brands it has bought. Would you ever

17:10

entertain that?

17:11

>> Well, first off, I've now started my own

17:14

new journey, right? So, are we going to

17:16

assume that didn't happen? If I didn't

17:18

have a new business, um would I do it? I

17:21

would say probably not. Um because

17:25

you have to take a collective breath and

17:28

start over, right? And I know there's

17:30

still a business there, but it just it

17:33

requires a lot of your soul. Like to

17:36

build these things, you got to give up

17:38

your soul. And

17:40

that's a lot to ask, right? And when

17:43

even when this on this journey, like if

17:44

if you I'll get you a book, you should

17:46

read it. But in the epilogue, my son

17:48

Jack talks about how I'm now in a new

17:51

basement with with some new faces,

17:53

starting a new journey. And I almost

17:55

needed permission from my family to say,

17:56

"You I'm can I go on this journey

17:58

again?" Because, you know, it's going to

18:00

take some of my

18:00

>> Did you ask Did you ask?

18:02

>> I did. And it's and it's a part of their

18:04

soul, too. Like that's So, it was an

18:06

easy question because they're very

18:08

entrepreneurial.

18:10

>> I'm seeing my son grow up as an

18:11

entrepreneur today, 24. My daughter,

18:13

she's just

18:14

>> How are they different than you?

18:16

different entrepreneurs.

18:17

>> Uh they're not as beaten and battered

18:20

[laughter]

18:22

>> battle tested their value in

18:23

>> time, you know, and hopefully they

18:24

won't, but but it's uh

18:27

you know, everyone's different, you

18:29

know. Um I've come to learn what I'm

18:32

good at. Like while I was doing what I

18:34

was doing, I never thought I was special

18:36

ever. I just thought I was a guy that

18:38

loved you. I cared about my product more

18:40

than you cared about it. And and

18:42

[snorts] I was willing to put the work

18:43

in. And I almost minimized the role that

18:46

I played until I sold it and until I

18:48

wrote a book and spent time because the

18:50

first time I wasn't working. So as I'm

18:52

reading the I'm writing the book I'm

18:53

like that that guy's kind of cool like

18:55

that he was important and I never

18:57

thought that and I actually started to

19:00

appreciate the role that I played and

19:02

it's and it's hard to tangibly

19:05

you know create it and tell you what it

19:07

was but it is the life force and I have

19:11

it. It's my superpower, right? So to not

19:14

put it toward another initiative. Now

19:17

listen, if I didn't think Crooked Pop

19:19

had an opportunity to disrupt the

19:20

industry and to redefine, you know,

19:23

refreshment in alcohol at a low ABV, I

19:26

wouldn't be doing this. If I didn't see

19:28

an opportunity to, you know, sell a

19:30

company because I think it's built the

19:32

right way. Um whether it sells or not

19:34

doesn't matter. But like the the basic

19:37

uh approach that I have to business, I

19:38

wouldn't do it. But if those things are

19:40

in place, knowing how much of my soul I

19:43

have to give up for it, um, you know,

19:46

I'm gonna do it.

19:47

>> So, when you when you started this

19:48

business, do you go in thinking, I'm Ben

19:50

Weiss. I created this kick-ass branded

19:52

already. I've sold a company. Like, I'm

19:54

here to do business. I'm going to this

19:55

is going to be a huge business instantly

19:56

overnight. Do you run that playbook?

19:59

>> Absolutely not. I think others felt that

20:01

way. Um, so the expectation might have

20:04

been there. Um, I actually felt the

20:06

exact opposite. I feel like, oh, new

20:07

starting line, new people. I got to find

20:10

new people. I got to find those, you

20:12

know, people that dream alongside me.

20:13

They're not there anymore. Some were,

20:15

which I was very fortunate. Um, but no,

20:18

you start over. Uh, you know, it's going

20:20

to be hard. The beverage industry, there

20:23

are no shortcuts. There are no

20:25

shortcuts. You got to be willing to do

20:26

that. It's expensive.

20:29

So, you know, if I had that perspective,

20:32

I think I would I wouldn't be here right

20:33

now. I would have failed. And I did fail

20:35

a lot in along this fiveyear journey on

20:37

the on the al on the alcohol side just

20:40

but that's part of the process.

20:42

>> What does failure look like? And

20:43

>> failure is every day. It's question is

20:45

what does success look like? Because

20:46

what happens is you fail, you fail, you

20:48

fail and then you you succeed along the

20:50

way. So you got to be conscious of what

20:53

success looks like. I expect failure

20:54

every day. Uh I don't fear the failure.

20:57

Um but I don't fail twice like on the

20:59

same issue. So I'm very conscious. I

21:02

learn from my mistakes and I'm very good

21:04

at understanding success. I could look

21:07

at a brand that, you know, sits here in

21:10

IRI data and believe it should sit there

21:14

and I can chart a path to there that

21:17

nobody else is. Everyone else thinks

21:19

fail. But to me, I could see the path

21:22

there and I'm I'm really good at

21:24

articulating that and getting somebody

21:26

in the in the other seat to kind of

21:27

believe it. not maybe fully believe it,

21:29

but enough to get you to do something

21:31

that I need you to do that you wouldn't

21:33

normally be willing to do.

21:35

>> If I had to summarize your product in a

21:38

couple words, what would it be and who

21:40

are the competitors in the space?

21:42

>> So, Cricut Pop is a modern soda for the

21:47

alcohol consumer. It is designed to um

21:52

deliver zero sugar, US organic. Those

21:55

are the two big pillars that check every

21:57

box. There's no other brand that does

21:59

zero sugar USD organic in alcohol.

22:02

On top of that, we are less than one

22:04

carb, gluten-free, vegan. I mean, it

22:07

really it checks all the box

22:08

>> for today's drinker.

22:09

>> So, I think it's truly, you know, a

22:11

better for you version, right? Including

22:14

the alcohol that we make is called

22:16

Osava. We spent a lot of time and money

22:19

creating our own alcohol to live in that

22:20

white space that I was talking about.

22:21

>> Never even heard of that.

22:22

>> No, you wouldn't. But I love it. Yeah.

22:24

>> And I'm going to tell everybody about it

22:26

until you love it. And

22:28

>> but I also never heard of coffee fruit

22:30

when you develop.

22:31

>> And I was smart enough to know that that

22:33

wasn't going to get people to buy it. So

22:35

I actually took coffee and I I I

22:38

kind of hit it in the back of the bottle

22:40

cuz I knew that's one of the pivots.

22:41

You're like, "Okay, maybe that maybe

22:42

that's not as important to you. Maybe

22:44

Osaba is not going to be as important to

22:46

you." But Osaba is a big part of why you

22:49

should trust the brand. And my goal is

22:51

not so much for you to fall in love with

22:52

those, but for you to trust my brand.

22:54

And if you trust it, you'll drink it

22:56

because it's absolutely delicious.

22:57

>> Where does this product sit in the

23:00

retail store? Is it next to hard

23:01

seltzer? But also like is it next to is

23:03

it next to beer? Like where is

23:04

>> So it's a great question. So when I look

23:06

at the alcohol set, right, it starts

23:09

with beer, which is malt and hops.

23:10

>> Sure.

23:11

>> Uh and then you got flavored malt

23:13

beverage, right? So malt is in my

23:15

opinion an alcohol for a previous

23:18

generation, right? flavored malt

23:20

beverages is a alcohol for a previous

23:22

generation. This consumer is not going

23:24

there. [snorts] If you keep going, you

23:26

then kind of have hard seltzers. Hard

23:28

seltzer is regulated as a beer. It's a

23:31

sugar brew. And they for the first time

23:32

did did something and that's why they're

23:35

the biggest growth engine in beer by not

23:37

being malt by being a sugar basel. What

23:39

they did is they are no longer governed

23:40

by the TTB. They're governed by the FDA.

23:42

And as a result, there's now a

23:43

nutritional panel on the ingredient deck

23:45

on a White Claw or a Truli. And I

23:47

thought that was the best thing for

23:49

consumers because and you saw it in the

23:51

numbers, but now a consumer can turn a

23:53

bottle or a can and say, "Okay, what's

23:55

in this? Do I want to drink it?" The

23:57

problem with Seltzer is that they get

23:58

bored of it and they want flavor.

24:00

What we are is to the right of that is

24:03

this white space I talked to you about

24:05

which is I had to create the alcohol

24:06

which was Osava and I had to create the

24:08

delivery uh system which is hard soda

24:12

which is where first movers do that

24:14

lives between seltzer a consumer who

24:17

might want to trade up and maybe a vodka

24:20

RT like call it a high noon a consumer

24:22

who now is drinking at a premium because

24:25

quite frankly when you put spirit in a

24:27

can at 4% you're diluting down a high

24:29

ABV Okay, you're bringing all those

24:31

excise taxes with you. So, you're

24:33

forcing a consumer now to pay for a

24:36

spirit as opposed to a beer.

24:38

>> I be honest, I don't know. As a high

24:39

noon drinker, I don't know why I'm

24:41

drinking that when I hear what you're

24:42

And I'm not just saying you're here. I

24:44

actually I really want to try what

24:45

you're saying.

24:45

>> You're drinking that because

24:47

>> there's no other choice for me.

24:48

>> Well, you're drinking it because vodka

24:49

is better than malt. I will tell you

24:51

vodka.

24:51

>> Well, they're pitching me fruit. There's

24:53

fruit supposedly,

24:54

>> but there's on on my clothes. Yeah.

24:56

>> But there's vodka is better than malt.

24:59

It's just cleaner. The reason it's

25:01

cleaner is because they quite frankly

25:02

they burn it and it becomes very

25:04

astringent. It becomes, you know, the

25:06

mouth feel. What we do is we stay on the

25:09

other side of the fence, which is as a

25:11

beer, you don't have excess taxes. So,

25:13

you're paying a premium to drink high

25:14

noon because of taxes. I'm like, why

25:17

burden the consumer with that? So, but

25:19

you needed to have a premium clean

25:21

alcohol that's better than malt that

25:24

doesn't make that's not a skirt.

25:26

>> Does that make sense? I know it's in the

25:27

weeds a little bit, but it's a very

25:28

important part of

25:29

>> It's fascinating to hear you talk about

25:30

alcohol like being the buy guy. Like I'm

25:32

just enjoying this. This is good. Like

25:34

this is like a little bit of a throwing

25:35

me for a loop as someone who

25:36

>> I just listen I just followed my

25:37

customer.

25:38

>> Yeah.

25:38

>> And the reason I'm in this business is

25:40

because my customer which is the 80

25:42

million millennials that gave birth to

25:45

not just buy but other great brands.

25:47

They just aged into alcohol.

25:48

>> Well, they're not drinking alcohol

25:49

anymore, right?

25:50

>> Well, the Gen Z's are

25:51

>> that's the we read everywhere. Oh,

25:53

they're not drinking anymore. Look, I go

25:54

to the restaurants where I'm at. I see

25:56

25 year olds still drinking maybe not as

25:57

much as I did drinking apple martinis at

25:59

age 21 when they were hot but like

26:01

>> you're right. So here's what's happening

26:02

in my opinion.

26:03

>> They're sober curious which means they

26:07

are not drinking alcohol but they are

26:09

willing to drink alcohol if you give

26:10

them something they can trust.

26:12

>> So they want to drink without

26:13

consequence. They want to drink better,

26:14

maybe drink a little less, whatever that

26:15

maybe it's not that they don't want to

26:17

drink. It's that they don't trust

26:18

anything in alcohol. So they they take a

26:21

timeout. They're like I'm just not going

26:22

to drink. And there's a lot of them

26:23

doing that. My hope is I can bring them

26:25

back to alcohol because I think it's fun

26:27

to have a drink, right? Have a drink you

26:29

can trust. Um, and that's our goal.

26:32

That's what drives us. We call it the

26:33

bevolution at BY. We called it the

26:34

revolution. We want to take sugar off

26:36

the streets. We still want to take sugar

26:37

off the streets.

26:38

>> We're trying to create a higher purpose

26:39

to just selling drinks.

26:41

>> Is, you know, I'm thinking back to what

26:44

I think it was recently, uh, ABNB

26:46

bought, was it Buzz Balls or something?

26:48

Is that the is that the exit for you

26:50

guys to an alcohol company?

26:52

Um, I think we, if we do our job right,

26:56

are going to redefine refreshment in

26:59

alcohol.

27:01

Whoever sees value in that,

27:03

>> I think there's high value in it.

27:04

>> How long do you want to be at this game?

27:08

>> I don't put a time frame on it. Listen,

27:09

I'm fortunate my my kids are a part of

27:11

it. Um, my family's a part of it. Uh, I

27:14

have great longstanding friendships in

27:18

this business. I go to work, I'm sure,

27:21

like you do in this environment. Uh,

27:23

kicking kicking my heels, right? Like

27:27

I I say this a lot, you got to love

27:28

everything you hate about this business.

27:29

There's a lot to hate. There's a I have

27:32

a lovehate relationship.

27:33

>> What how you preparing your kids to

27:36

let's assume take over this business?

27:39

>> I'm not I'm just I'm just saying go

27:42

fight. Go fight. It's a fight. I don't

27:45

know if they'll win their fights. like

27:46

they got to just pick up, you know, a

27:49

can and go fight. And uh we'll see how

27:52

they do. That's what I do every day.

27:53

Like I fight the urge to to maybe for us

27:58

not to be here. Like that's there's a

28:01

big chip on my shoulder and I want that

28:02

chip to be on their shoulders too,

28:04

right? Like prove that we belong, right?

28:07

Until then, everybody wants you gone. I

28:10

don't care what you've done in your

28:11

past. So, you know, it's it's it's fun

28:14

watching. It's kind of fun throwing them

28:16

in the fire and seeing how they handle

28:17

it, but it's it's it's rough.

28:20

>> Well, I uh I wish you much success. I

28:22

don't know why we haven't spoken before,

28:23

but I'm looking forward to staying in

28:24

touch. Like, I want I want to try this

28:25

product. We need to give a pine.

28:27

Seriously, I'm going to give you some.

28:28

>> All right. I appreciate it. All right.

28:29

All right. That's it for the latest

28:30

episode of Power Plays. Appreciate the

28:31

love. Hit me with those likes.

Interactive Summary

This episode of Power Players features an interview with entrepreneur Ben Weiss, the founder of the beverage brand 'BY' and his new venture, 'Crooked Pop'. Weiss discusses his 'basement mentality' approach to business, which focuses on being scrappy, tenacious, and tethered to a big idea. He shares insights into the challenges of naming and marketing his products, the importance of maintaining an authentic connection to one's brand, and his experience selling 'BY' to the Dr. Pepper Snapple Group. The conversation also explores his transition into the alcohol industry with 'Crooked Pop', where he aims to create a 'better-for-you' alcoholic beverage that addresses consumer distrust in traditional ingredients.

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