Episode #573: How LightStim Revolutionized LED Beds and the Med Spa Industry with Steve Marchese

1
00:00:00,880 --> 00:00:04,080
I am super excited to announce that we now have a formal

2
00:00:04,080 --> 00:00:07,480
partnership with the Prospect Wizard. And when I say

3
00:00:07,480 --> 00:00:10,960
wizard, I mean wizard. Obviously you have a website.

4
00:00:11,440 --> 00:00:14,880
This allows you to convert your website traffic visitors

5
00:00:14,880 --> 00:00:18,600
directly into leads. It's not just another chatbot and

6
00:00:18,600 --> 00:00:22,440
it's not AI but it allows a visitor to call, text or leave a

7
00:00:22,440 --> 00:00:26,040
voicemail immediately. Goes to you, your sales team or anyone else in the

8
00:00:26,040 --> 00:00:29,720
club instantly. MIT shows a study that if you contact

9
00:00:29,720 --> 00:00:33,480
the league within 10 minutes, chance of them converting goes up nine

10
00:00:33,480 --> 00:00:37,240
times that of the average. We got the Atlanta clubs

11
00:00:37,240 --> 00:00:40,680
on it. Vita Fitness, Gold's Gym, Mountainside

12
00:00:40,920 --> 00:00:44,640
City Fitness, Philly, College Park. Become one

13
00:00:44,640 --> 00:00:48,360
of the next Halo companies to deploy the Wizard.

14
00:00:48,360 --> 00:00:51,720
It's easy to use. Go to the prospectwizard.com

15
00:00:52,270 --> 00:00:55,750
get a free 30 day trial. Talk to my boy Dave Gallen. He will get

16
00:00:55,750 --> 00:00:59,550
you all set up and let the leads flow based on the

17
00:00:59,550 --> 00:01:00,990
Wizard. Go get him.

18
00:01:03,790 --> 00:01:07,630
This is Pete Moore on Halo Talks. NYC had the pleasure of having

19
00:01:07,630 --> 00:01:11,070
Steve Marchese. We're going to talk about LED light.

20
00:01:11,310 --> 00:01:15,070
We're going to talk about what's legally available

21
00:01:15,150 --> 00:01:18,190
and what else is going on in the market. We're going to talk about the

22
00:01:18,190 --> 00:01:21,920
spread of med spas and the proliferation of this technology.

23
00:01:22,480 --> 00:01:26,120
Steve, welcome to your first Halo talks. Thank you for

24
00:01:26,120 --> 00:01:29,840
having me. Appreciate it. Awesome. So we've got a lot of friends in common

25
00:01:29,840 --> 00:01:33,520
as we've riffed about related to the, the med

26
00:01:33,520 --> 00:01:36,880
spa space and our, and our good friend down in Orlando,

27
00:01:37,120 --> 00:01:40,880
Eric Casserberry. But as you, you know take us back to, to when you

28
00:01:40,880 --> 00:01:44,680
started light stem and uh, and where that emanated

29
00:01:44,680 --> 00:01:48,400
from the passion and the frustration you saw as well as you know,

30
00:01:48,400 --> 00:01:51,640
where we are today. And we'll talk about the legal, you know, components of it

31
00:01:51,640 --> 00:01:55,360
as well. We, well the company's 25 years

32
00:01:55,360 --> 00:01:58,600
old. We actually bought the technology from two

33
00:01:58,600 --> 00:02:02,440
inventors and, and we,

34
00:02:03,080 --> 00:02:06,680
you know, at that time we made just handheld devices

35
00:02:06,680 --> 00:02:10,520
for wrinkles, acne and pain which we still make

36
00:02:10,840 --> 00:02:14,480
now. And then after a couple of years we started

37
00:02:14,480 --> 00:02:18,120
to get into the, the more, more of the professional

38
00:02:18,760 --> 00:02:22,320
market and started, we built

39
00:02:22,320 --> 00:02:25,720
panels for the face that were fully adjustable and

40
00:02:25,960 --> 00:02:29,240
started selling them to med spas and spas. And,

41
00:02:30,040 --> 00:02:33,560
and now we're in about 50,000 spas,

42
00:02:33,640 --> 00:02:37,440
med spas, doctor's offices, that sort of thing. We have a, we have a

43
00:02:37,440 --> 00:02:41,120
million plus consumers using our handheld devices every home every

44
00:02:41,120 --> 00:02:44,360
night while they're watching television at night getting rid of their wrinkles or acne.

45
00:02:44,950 --> 00:02:48,550
And then my son, when My son was 21 years old, which

46
00:02:48,550 --> 00:02:51,350
was 14 years ago. Fifteen years ago,

47
00:02:53,190 --> 00:02:56,310
we found out that he had dangerously high blood pressure.

48
00:02:57,750 --> 00:03:01,270
And we tried everything under the sun. You know,

49
00:03:01,510 --> 00:03:04,070
regular medicine, integrative doctors,

50
00:03:05,670 --> 00:03:09,270
anti aging doctors, naturopaths, Chinese medicine.

51
00:03:09,430 --> 00:03:13,230
Nobody could find anything wrong with them. And nothing

52
00:03:13,230 --> 00:03:16,430
worked to lower it more than three points. And they, and they told us that

53
00:03:16,430 --> 00:03:19,550
his blood pressure was so high he could have a stroke and die at any

54
00:03:19,550 --> 00:03:23,230
moment. And, and that was when we

55
00:03:23,230 --> 00:03:26,750
decided to build an LED bed. And there really weren't any LED beds

56
00:03:27,470 --> 00:03:31,270
that are not that many LED beds on the market at that time. And

57
00:03:31,270 --> 00:03:34,110
we didn't know what it would do, but it was kind of our Hail Mary.

58
00:03:34,430 --> 00:03:38,190
And, and the bed ended up taking us six years

59
00:03:39,180 --> 00:03:42,940
working with, directly with the FDA and millions of dollars to actually

60
00:03:43,020 --> 00:03:46,620
perfect it before we put it on the market. But we built something for him

61
00:03:46,620 --> 00:03:50,300
in about 60 days. And his blood pressure

62
00:03:50,300 --> 00:03:53,580
used to be between 165 and 210 over

63
00:03:54,060 --> 00:03:57,820
110 and 160, like pretty high.

64
00:03:58,540 --> 00:04:02,340
And, and he laid on this thing three days a week and

65
00:04:02,340 --> 00:04:06,100
two months later his blood pressure was 130 over 80. And we're

66
00:04:06,100 --> 00:04:08,460
like, what was the, what. Was the,

67
00:04:09,740 --> 00:04:13,580
the thought process? And what, what, what kind of cued you in or what article

68
00:04:13,740 --> 00:04:17,500
did you read or you know, what doctor was doing something experimentally

69
00:04:17,500 --> 00:04:21,220
like maybe there's something here. So, so what

70
00:04:21,220 --> 00:04:24,220
I did know at the time is that, is that

71
00:04:25,260 --> 00:04:29,020
if you use the right wavelengths, the mitochondria will absorb them and convert

72
00:04:29,020 --> 00:04:32,840
it to ATP or adrenosine triphosphate. The, the

73
00:04:33,160 --> 00:04:35,160
gasoline of ourselves, basically,

74
00:04:36,760 --> 00:04:40,480
and which we produce about 8 to 10% less every decade.

75
00:04:40,480 --> 00:04:44,240
We're alive after 20. That's why most people don't live beyond

76
00:04:44,240 --> 00:04:48,080
100. And I

77
00:04:48,080 --> 00:04:51,720
noticed that he passed out every afternoon around 2:00', clock, like he just had no

78
00:04:51,720 --> 00:04:55,160
energy left, nothing. And so I said,

79
00:04:55,320 --> 00:04:59,120
let's build this thing. We'll use wavelengths that we know the mitochondria will absorb

80
00:04:59,120 --> 00:05:02,850
and convert. And you know the rest of the story.

81
00:05:02,850 --> 00:05:06,410
But three years into the six years in development

82
00:05:07,050 --> 00:05:10,850
of the bed, working with the FDA, we met a gentleman named

83
00:05:10,850 --> 00:05:14,490
Dr. Nathan Bryan, who was part of the discovery

84
00:05:14,490 --> 00:05:17,850
team that discovered nitric oxide in the

85
00:05:17,850 --> 00:05:21,250
mid-90s. And he came in and

86
00:05:21,250 --> 00:05:25,010
visited us and he said the ATP

87
00:05:25,010 --> 00:05:28,420
had nothing to do with your son's blood pressure dropping is because

88
00:05:28,660 --> 00:05:32,500
this bed is releasing trapped nitric oxide

89
00:05:32,500 --> 00:05:36,220
in the body. And nitric oxide will lower high blood pressure. It

90
00:05:36,220 --> 00:05:39,780
relaxes the muscle walls of the arteries and gets Blood

91
00:05:39,780 --> 00:05:43,460
flow going, that sort of thing. Well, so

92
00:05:44,900 --> 00:05:47,740
we were lucky. So let me ask you this. When you talk about. It took

93
00:05:47,740 --> 00:05:51,300
you six years to get to the point where you made a device

94
00:05:51,700 --> 00:05:54,590
that, that did what then became FDA approved.

95
00:05:55,230 --> 00:05:58,990
Yeah, yeah. They call it FDA cleared. They approve drugs and they clear devices,

96
00:05:59,150 --> 00:06:02,950
same safety and testing. So, you know, as you go

97
00:06:02,950 --> 00:06:06,510
through that process, are you looking at. You're not necessarily getting

98
00:06:06,510 --> 00:06:09,470
from. For our audience purposes and for mine as well,

99
00:06:10,590 --> 00:06:14,350
am I getting. I'm not getting a patent. I'm just getting the right to

100
00:06:14,350 --> 00:06:16,030
sell it in a medical

101
00:06:18,030 --> 00:06:21,320
court, you know, channel that. Correct. And, and to use claims.

102
00:06:22,040 --> 00:06:25,640
Right, right, right. So what took so

103
00:06:25,640 --> 00:06:29,400
long there was that when we went. What took so long there?

104
00:06:32,360 --> 00:06:35,160
When we went to the FDA and said we wanted to build a bed and

105
00:06:35,160 --> 00:06:38,480
we wanted to get it cleared, they basically, the

106
00:06:38,480 --> 00:06:42,160
assistant director of the fda, he laughed at me. And

107
00:06:42,160 --> 00:06:46,000
he goes, Steve, he goes, he goes, I've known you a long time. I'm just

108
00:06:46,000 --> 00:06:49,620
going to save you the heartache. He goes, he goes, don't bother trying to

109
00:06:49,620 --> 00:06:53,260
develop an LED bed. Definitely don't write the FDA a check because they

110
00:06:53,260 --> 00:06:57,060
don't work. And I'm like, what do you mean they don't work? This is just

111
00:06:57,060 --> 00:07:00,860
a larger iteration of, of other clearances that we have

112
00:07:00,860 --> 00:07:04,540
because we had built a good relationship with them, because we take all our devices

113
00:07:04,540 --> 00:07:07,740
through there with clinical studies and everything that they require.

114
00:07:08,220 --> 00:07:11,620
And, and he said, well, they're, they're not actually delivering any

115
00:07:11,620 --> 00:07:15,200
therapeutic light energy down into muscles and joints and, and

116
00:07:15,200 --> 00:07:18,200
organs. They're just lighting up the skin. And

117
00:07:19,320 --> 00:07:22,960
this was because of distance. So LED loses

118
00:07:22,960 --> 00:07:26,280
its power exponentially as you leave the tip of the bulb.

119
00:07:26,680 --> 00:07:30,400
And over the first three

120
00:07:30,400 --> 00:07:34,240
years working with them, we basically discovered that if you're further away

121
00:07:34,240 --> 00:07:38,040
than three quarters of an inch, there's no possibility of getting depth of

122
00:07:38,040 --> 00:07:41,760
penetration. Now, that's different for the face. Like, you could have a

123
00:07:41,760 --> 00:07:45,610
panel that's 1 to 3 inches away. And because you're just treating the

124
00:07:45,610 --> 00:07:49,130
skin. But when you're, but when you're working with a

125
00:07:49,130 --> 00:07:52,850
wellness device, you need to affect positively

126
00:07:52,850 --> 00:07:56,250
enough cells that you're actually going to get a change, the

127
00:07:56,250 --> 00:07:59,930
measurable change. And, and, and it's a big difference. On

128
00:07:59,930 --> 00:08:03,250
the surface, in 1 inch square, you're treating about

129
00:08:03,490 --> 00:08:07,130
19 million cells. And, and, and, and

130
00:08:07,130 --> 00:08:10,950
almost their whole job has to do with the skin. If you

131
00:08:10,950 --> 00:08:14,750
go down one inch in that one inch square, now you're treating between

132
00:08:14,910 --> 00:08:18,550
465 and 600 million cells that Have a

133
00:08:18,550 --> 00:08:22,230
variety of jobs in the body. And, and so

134
00:08:22,230 --> 00:08:25,710
that's, that was why they had a big, a lot of attention on

135
00:08:26,269 --> 00:08:29,990
penetration. And, and, and so that was. I'm sorry, I just want to pause

136
00:08:29,990 --> 00:08:33,470
you, I just want to pause for one second. Explain to me in the audience.

137
00:08:33,630 --> 00:08:37,400
Your son was, was obviously on the brink of something terrible

138
00:08:37,400 --> 00:08:41,080
happening. You kind of hit pause. You built the bed for 60 days.

139
00:08:41,480 --> 00:08:44,960
Then what were you, what was your day job before you decided to

140
00:08:44,960 --> 00:08:48,800
dedicate your life to this? The reason

141
00:08:48,800 --> 00:08:52,560
that you know what detailing a car is is because I

142
00:08:52,560 --> 00:08:56,040
opened the first detail shop in the world in 1972.

143
00:08:56,680 --> 00:09:00,320
And, and then we franchised and sold 155 franchises across

144
00:09:00,320 --> 00:09:04,120
the U.S. got it. I wanted to make sure that everybody knew here they're like,

145
00:09:04,490 --> 00:09:08,090
this wasn't. You were not looking for something to do. Like you were busy building

146
00:09:08,410 --> 00:09:12,090
a business that was a full time job. And then it was like,

147
00:09:12,090 --> 00:09:15,770
hey, life shock, let's figure this out. And then once you figure that, you're like,

148
00:09:15,770 --> 00:09:18,890
hey, I gotta release this to the world basically.

149
00:09:19,450 --> 00:09:23,050
And as big as we became, we're a family

150
00:09:23,050 --> 00:09:26,690
run business. My wife is the president of the company. My son that I talked

151
00:09:26,690 --> 00:09:30,170
about with that high blood pressure is a COO and he oversees

152
00:09:30,410 --> 00:09:33,050
manufacturing and regulatory. And

153
00:09:35,960 --> 00:09:39,640
one other thing I can't remember. Well,

154
00:09:39,720 --> 00:09:42,680
being basically brand ambassador, it sounds like now. Yep.

155
00:09:43,720 --> 00:09:46,800
Yeah. So, okay, so so fast forward back there because I wanted to make sure

156
00:09:46,800 --> 00:09:50,600
people knew that, you know, successful entrepreneur stumbles, goes

157
00:09:50,600 --> 00:09:53,120
a problem. I'm gonna figure out how to solve it and I'm actually gonna create

158
00:09:53,120 --> 00:09:56,640
a business around it, which is the way to solid way to start businesses. Not

159
00:09:56,640 --> 00:10:00,200
just haphazardly find something, fix it and then see if it works and then go,

160
00:10:00,670 --> 00:10:04,430
thank you. So, so there were three things that we learned from the fda

161
00:10:04,430 --> 00:10:07,910
and because of that first one, that was why we built a one

162
00:10:07,910 --> 00:10:11,430
sided bed that you flip on and we made it so you're only a quarter

163
00:10:11,430 --> 00:10:15,190
inch off the tip of the LED bulb. So we thought we were done

164
00:10:15,190 --> 00:10:18,990
with that and can move on to the next barrier to efficacy. But

165
00:10:18,990 --> 00:10:22,830
we weren't because what we found was when was that? So we also

166
00:10:22,830 --> 00:10:26,470
knew we were going to use LEDs that are emitting light at somewhere between 50

167
00:10:26,470 --> 00:10:30,150
and 50 to 50, 15 and 50 degrees. And if you

168
00:10:30,150 --> 00:10:33,830
get wider than that, LED loses its intensity too

169
00:10:33,830 --> 00:10:37,510
much. Which is another reason why distance is critical, because the

170
00:10:37,510 --> 00:10:41,070
further away you get, the wider that the light gets. Right.

171
00:10:41,070 --> 00:10:44,790
And but what happened was even though we

172
00:10:44,790 --> 00:10:48,030
were quarter inch off the tip of the bulb. And, and we had the right

173
00:10:49,630 --> 00:10:53,190
angle of light being emitted from the bulb for penetration. When it hit the

174
00:10:53,190 --> 00:10:56,910
acrylic it was going like this would go out to disperse to 180

175
00:10:56,910 --> 00:11:00,640
degrees. My son spent two years working with the four

176
00:11:00,640 --> 00:11:03,880
largest manufacturers of acrylics in the, in the country

177
00:11:04,120 --> 00:11:07,880
before we, he figured out like they came up with an acrylic

178
00:11:07,880 --> 00:11:11,560
that actually let the light through without dispersing it. So now

179
00:11:11,560 --> 00:11:15,120
we are getting depth of penetration. The third

180
00:11:15,120 --> 00:11:18,760
and biggest barrier is that, and

181
00:11:18,760 --> 00:11:22,360
this has to do with the whole legal scene is the FDA has a

182
00:11:22,360 --> 00:11:26,160
requirement for a full body device that's in this

183
00:11:26,160 --> 00:11:29,640
pain category. And that's what the

184
00:11:29,640 --> 00:11:32,680
FDA calls it. They call it pain, they don't call it red light therapy, they

185
00:11:32,680 --> 00:11:35,040
don't call it, you know, wellness. And

186
00:11:38,000 --> 00:11:41,360
their requirement or their test is raising the tissue

187
00:11:41,360 --> 00:11:45,040
temperature of the entire body to between 104 and

188
00:11:45,040 --> 00:11:48,880
111 degrees. Now that sounds really hot and it

189
00:11:48,880 --> 00:11:52,520
is really hot when you're outside. But 104 on

190
00:11:52,520 --> 00:11:55,480
your skin temperature you would describe as

191
00:11:55,800 --> 00:11:59,360
soothing, gentle, relaxing warmth that you just fell

192
00:11:59,360 --> 00:12:01,640
asleep to. And, and

193
00:12:03,640 --> 00:12:07,400
so the problem with they, they

194
00:12:07,400 --> 00:12:11,160
had determined that that was like that's the area of temperature where the

195
00:12:11,160 --> 00:12:14,800
most benefits happen. So that was the requirement. So if you have a full

196
00:12:14,800 --> 00:12:18,540
body device, you need to get that accomplished on

197
00:12:18,540 --> 00:12:22,180
the whole body. But what happens, and the reason nobody had ever

198
00:12:22,180 --> 00:12:26,020
passed this test before was that when you lay your body on

199
00:12:26,020 --> 00:12:29,860
a sheet or a layer of LEDs that's not differentiated in any

200
00:12:29,860 --> 00:12:33,380
way, what's going to happen is best case scenario,

201
00:12:33,700 --> 00:12:37,540
if you're close, your torso might heat up to that temperature,

202
00:12:38,260 --> 00:12:41,860
but your arms and your legs that have way less mass than the torso

203
00:12:41,860 --> 00:12:45,550
and dissipate heat almost as fast as you give it to them are

204
00:12:45,550 --> 00:12:49,110
never going to come up to that temperature. And they're according to

205
00:12:49,110 --> 00:12:52,590
Google, between 58 and 68% of your total body mass.

206
00:12:53,230 --> 00:12:56,910
So this is, was a really important problem to solve if

207
00:12:56,910 --> 00:13:00,710
you're going to tell the public that you're giving them a full body treatment. Well,

208
00:13:00,710 --> 00:13:03,870
you would be deceiving them if you, if you weren't right. And so

209
00:13:04,670 --> 00:13:08,350
that took three years. And my son came up with this idea of instead of

210
00:13:08,350 --> 00:13:11,630
having a sheet of LEDs, we would make 30 separate

211
00:13:11,630 --> 00:13:15,270
modules like maybe 6, 7 inches wide and 10 inches

212
00:13:15,270 --> 00:13:18,700
long, maybe around 600 LEDs in each module.

213
00:13:19,260 --> 00:13:23,060
30 modules. And inside each module is

214
00:13:23,060 --> 00:13:26,620
a special little sensor that we designed and had made for us.

215
00:13:27,020 --> 00:13:30,860
And all this stuff's manufactured in our Factory in Irvine, California.

216
00:13:31,180 --> 00:13:34,980
And, and so what this sensor does is when, now when

217
00:13:34,980 --> 00:13:38,700
you lay on our bed, the within

218
00:13:38,860 --> 00:13:42,660
three seconds, the sensor is going to figure out, oh, I've got this.

219
00:13:42,660 --> 00:13:45,890
I mean, I'm going to. In layman's terms, I've got this arm here. It's got

220
00:13:45,890 --> 00:13:49,650
X amount of mass and the temperature of it is X. I need to

221
00:13:49,650 --> 00:13:53,170
heat this one module up for this to get it up to the right level.

222
00:13:53,490 --> 00:13:56,690
Interesting. Yeah. Computer program

223
00:13:57,010 --> 00:14:00,690
is running all 30 of them to bring the whole body up. And,

224
00:14:00,690 --> 00:14:04,210
and, and we patented that. Oh,

225
00:14:04,210 --> 00:14:07,890
gotcha. And, and, and that kind of. There lies the rub

226
00:14:07,890 --> 00:14:11,590
in the existing legal scene, which, if you give me

227
00:14:11,590 --> 00:14:13,390
five minutes playing it to you.

228
00:14:16,750 --> 00:14:20,390
This is Pete Moore. I want to let you in on a little secret. There's

229
00:14:20,390 --> 00:14:23,790
this company called Promotion Vault. And what they do is they give out rewards

230
00:14:24,030 --> 00:14:27,790
from retailers that allow you to incentivize your

231
00:14:27,790 --> 00:14:31,630
members without having to do zero down and one month free

232
00:14:31,870 --> 00:14:35,630
or giving away shakes or giving away T shirts. What you want to

233
00:14:35,630 --> 00:14:39,130
do is build a rewards program that lasts, that people

234
00:14:39,130 --> 00:14:42,290
value and that doesn't discount your own products and services.

235
00:14:42,850 --> 00:14:46,370
So here's the deal. There's something called Rewards Vault. The Rewards

236
00:14:46,450 --> 00:14:50,210
Vault is going to allow a member to set up their own profile.

237
00:14:50,450 --> 00:14:54,210
They are going to answer questions, you are going to get those answers, you're going

238
00:14:54,210 --> 00:14:58,050
to be able to target those members and you're going to reward them inside your

239
00:14:58,050 --> 00:15:01,890
club, inside your spa, and outside of the club and outside

240
00:15:01,890 --> 00:15:05,730
of the spa to get them to become loyal, to get them to pay

241
00:15:05,730 --> 00:15:09,570
their monthly dues and to be rewarded properly for

242
00:15:09,570 --> 00:15:13,370
the actions. A lot of companies are cutting back on rewards. You shouldn't be.

243
00:15:13,450 --> 00:15:16,410
Promotion Vault, your answer, trust me, this is real.

244
00:15:20,330 --> 00:15:23,930
Well, let me, let me ask you this question. So first off,

245
00:15:24,330 --> 00:15:28,170
congratulations on what you built and, you know, and for also,

246
00:15:28,570 --> 00:15:31,910
you know, curing your son, which

247
00:15:31,910 --> 00:15:35,670
obviously something bad was bound to happen. And I'm sure you've had

248
00:15:35,670 --> 00:15:39,390
billions, if not hundreds of thousands of people, you know, life

249
00:15:39,390 --> 00:15:42,510
saved. So congratulations on that being like a part of the Halo

250
00:15:42,910 --> 00:15:46,510
community and impactful. You know, when you see other

251
00:15:46,510 --> 00:15:50,230
people come out into the market and they have a copycat product and,

252
00:15:50,230 --> 00:15:53,990
you know, 100% that, look, this product is not doing

253
00:15:53,990 --> 00:15:57,550
shit for you. They have not complied. They don't have the science, they don't

254
00:15:57,700 --> 00:16:01,140
off the right materials, you, you could go and you can spend a lot of

255
00:16:01,140 --> 00:16:04,700
money legally to try and shut somebody down and you realize it's just going to

256
00:16:04,700 --> 00:16:08,540
pop up again. You Know, in, out of an Asian plant or out of

257
00:16:08,540 --> 00:16:12,220
somewhere in Korea or India's what, what have you. How do you think about

258
00:16:12,220 --> 00:16:15,980
that as an entrepreneur? And my reason for asking is a lot of people

259
00:16:15,980 --> 00:16:19,380
try and protect their patents. A lot of trying. People like protect the

260
00:16:19,380 --> 00:16:23,180
efficacy of their channel. And a lot of times it's like,

261
00:16:23,180 --> 00:16:26,340
you know what, I'm just going to kind of swim through it. I'm going to

262
00:16:26,340 --> 00:16:29,900
tell everyone what my brand means and I'm going to outspend people on

263
00:16:30,220 --> 00:16:33,940
what, what the effect is. And then everyone's going to know that lights them

264
00:16:33,940 --> 00:16:37,620
is the quality brand. And I'm not going to like spend

265
00:16:37,620 --> 00:16:41,260
money on legal teams. I'm going to spend money on my product, my brand. How

266
00:16:41,260 --> 00:16:44,780
do you think about that? Well, exactly that way.

267
00:16:44,780 --> 00:16:47,180
Okay, good. We, yeah, we.

268
00:16:48,780 --> 00:16:52,430
First off, the Federal Trade Commission is, is doing the job for

269
00:16:52,430 --> 00:16:55,910
us. In April of 23, they put out a

270
00:16:55,910 --> 00:16:59,550
warning letter to the health and wellness industry and basically said,

271
00:16:59,550 --> 00:17:03,230
you guys are duping the public with unsubstantiated claims

272
00:17:03,230 --> 00:17:06,990
and we're coming after you. We're not only coming after you, but

273
00:17:07,150 --> 00:17:10,750
already we have targeted, investigated and

274
00:17:11,790 --> 00:17:15,310
penalized fines, that sort of thing. 670

275
00:17:15,310 --> 00:17:19,120
companies. Wow. So they're. Yeah, so they're pretty on it. And then, and

276
00:17:19,120 --> 00:17:22,880
then six months ago, one of the largest law firms in

277
00:17:22,880 --> 00:17:26,400
the U. S. King and Spalding, a. Buddy runs the

278
00:17:26,400 --> 00:17:30,080
Atlanta office, Josh Cayman, give a shout out right now. Oh, okay.

279
00:17:30,800 --> 00:17:34,480
They, they, they did a white paper slash

280
00:17:34,480 --> 00:17:38,000
opinion letter. Yes. And, and basically they,

281
00:17:38,160 --> 00:17:40,800
they re, they reviewed the

282
00:17:41,200 --> 00:17:44,230
exemption that, that everybody in the full body

283
00:17:44,470 --> 00:17:47,590
device business is, is

284
00:17:48,150 --> 00:17:51,590
under about four and a half years ago when all this stuff came on the

285
00:17:51,590 --> 00:17:55,350
market. And, and they, and they, they basically said

286
00:17:55,430 --> 00:17:58,950
like nobody read this exemption. Everybody thinks that, that they're just

287
00:17:58,950 --> 00:18:02,230
exempt and that they could just put the product on the market and make whatever

288
00:18:02,230 --> 00:18:05,830
claims. But it actually says that you have to,

289
00:18:05,830 --> 00:18:09,430
you have to do the same tests and pass the same test as,

290
00:18:09,920 --> 00:18:13,560
as we did getting through FDA clearance and

291
00:18:13,560 --> 00:18:16,360
you just don't have to submit them to the fda. So you don't have to

292
00:18:16,360 --> 00:18:20,040
spend millions of dollars in the six years that we, we spent that sort of

293
00:18:20,040 --> 00:18:23,680
thing. And, and, but the problem is none of them have

294
00:18:23,680 --> 00:18:27,400
that technology and can't pass that test. So, so just so

295
00:18:27,400 --> 00:18:31,240
I understand what you're saying is you can go to market, you

296
00:18:31,240 --> 00:18:34,880
can make claims. However, if we audit you, you're getting

297
00:18:34,880 --> 00:18:38,520
audited, you better have the backup for it. Is that what you're saying? They,

298
00:18:38,680 --> 00:18:42,240
they have to have performed the test and have them in a folder. And here's

299
00:18:42,240 --> 00:18:46,080
my stuff. I dotted my eyes, I crossed my T's. Okay. But it's only,

300
00:18:46,080 --> 00:18:49,520
only if. Only if the, if the crossing guard comes to your

301
00:18:49,520 --> 00:18:52,920
corner is what you basically say. Well, no, not.

302
00:18:53,160 --> 00:18:56,840
So here's the rub. Yes. Federal.

303
00:18:56,840 --> 00:19:00,680
The, the, the class action lawsuit firms in

304
00:19:00,920 --> 00:19:04,590
23. When the, when the FTC put out that warning

305
00:19:04,590 --> 00:19:08,310
letter, saw that and went, that's low hanging fruit. We

306
00:19:08,310 --> 00:19:12,030
could go after these guys now. And we've got the government behind us. They actually

307
00:19:12,030 --> 00:19:15,790
came at us first. Okay. Like they attacked us first. And,

308
00:19:15,790 --> 00:19:19,230
but we had all our paperwork in line and, and they, they actually asked me

309
00:19:19,230 --> 00:19:22,710
if I'd be a consultant. I said no, no, no. Got it. Okay.

310
00:19:22,710 --> 00:19:26,350
Okay. So you're telling me that the lawyers

311
00:19:26,350 --> 00:19:30,200
came after the companies, not the government? Well, the government

312
00:19:31,000 --> 00:19:34,720
did and is continuing. But the scary

313
00:19:34,720 --> 00:19:38,520
thing, like the reason that you don't want to just,

314
00:19:39,000 --> 00:19:42,760
you know, you don't want to be in this marketplace

315
00:19:42,760 --> 00:19:46,520
and not have all your ducks in a row legally,

316
00:19:46,840 --> 00:19:50,280
is when the class action

317
00:19:50,280 --> 00:19:53,960
lawsuit firms come after you, it's not a fun deal. Yeah, yeah.

318
00:19:55,720 --> 00:19:59,080
Costing them way more money than they are making off of their business.

319
00:19:59,540 --> 00:20:03,100
Yeah, we've dealt with that in the, in the health club industry a lot with

320
00:20:03,100 --> 00:20:05,700
wage an hour claims.

321
00:20:06,740 --> 00:20:10,340
And I get, I've seen standard letters from any of my clients.

322
00:20:10,740 --> 00:20:13,900
It seems like they just get their name put on it in a mail merge.

323
00:20:13,900 --> 00:20:16,660
I think it's called mail merge and word. Yeah, it's really

324
00:20:17,060 --> 00:20:20,500
authentic. So, you know, as you take a look at your products

325
00:20:20,900 --> 00:20:24,660
and the cost that it costs per bed to put into all these

326
00:20:24,660 --> 00:20:28,230
bed spas. What is, where's the financing market for that?

327
00:20:28,870 --> 00:20:31,990
Do you provide financing with it? Just, just give us a little

328
00:20:32,310 --> 00:20:36,150
idea of how these things proliferate, you know, and how people can get a

329
00:20:36,150 --> 00:20:38,630
hold of them. Well, because

330
00:20:39,830 --> 00:20:43,190
we have so many franchises that we're supplying and,

331
00:20:43,590 --> 00:20:45,670
and they have so many locations,

332
00:20:47,270 --> 00:20:51,110
they're able to get way, way, way better pricing than

333
00:20:51,670 --> 00:20:55,430
the, the 50 to $55,000 for an LED bed

334
00:20:55,830 --> 00:20:58,950
or $4,500 for a panel for the face

335
00:21:00,310 --> 00:21:04,150
because it's such large volume. So we're able to buy our components

336
00:21:04,230 --> 00:21:08,030
much, much cheaper and we can take

337
00:21:08,030 --> 00:21:11,790
advantage of manufacturing processes and that sort of thing that, that

338
00:21:11,790 --> 00:21:15,390
with volume and. But in addition to

339
00:21:15,390 --> 00:21:19,160
that, we do have, we have financing programs for them. We

340
00:21:19,160 --> 00:21:20,880
have leasing programs for them.

341
00:21:23,600 --> 00:21:27,280
I would say. Yeah, yeah. Most of them just

342
00:21:27,280 --> 00:21:31,120
pay. Got it. And then, and then my last question Is out

343
00:21:31,120 --> 00:21:34,760
of all of your locations that you service, what is the

344
00:21:34,760 --> 00:21:38,480
most amount of light stem beds that

345
00:21:38,480 --> 00:21:40,560
someone has in one single location?

346
00:21:43,640 --> 00:21:47,280
I'm, I, I might, I, I, I feel like I might

347
00:21:47,280 --> 00:21:50,960
violate NDAs. Oh, okay, okay. But is

348
00:21:50,960 --> 00:21:54,800
there, are there places where it's like, hey, the equivalent

349
00:21:54,800 --> 00:21:58,560
of like a, like a small Pilates studio where people basically have so

350
00:21:58,560 --> 00:22:02,200
many of these beds because there's so much demand that it's basically like,

351
00:22:02,200 --> 00:22:05,840
it's kind of like the primary reason people are going, I, I, I

352
00:22:05,840 --> 00:22:09,360
could something like that without, without being, I mean, look, we could try to get

353
00:22:09,360 --> 00:22:13,050
everyone to sign NDA, but I actually have a reasonable amount of listeners now, so

354
00:22:13,050 --> 00:22:15,490
it's going to take a little while to get this thing launched. I'm just kidding.

355
00:22:16,690 --> 00:22:20,410
I can tell you who is, I can tell you who's going at

356
00:22:20,410 --> 00:22:23,330
this very strongly, really wants to be

357
00:22:24,290 --> 00:22:26,850
in the recovery space in their gyms

358
00:22:28,050 --> 00:22:31,690
and is basically not fooling around. They're going for it. And that would be

359
00:22:31,690 --> 00:22:35,490
anytime Fitness. They're doing a really good job.

360
00:22:39,660 --> 00:22:43,340
This is Pete Moore. Here's the last tip for you of the podcast.

361
00:22:43,580 --> 00:22:46,540
We are partnered up with a company called higher dose

362
00:22:46,700 --> 00:22:50,060
higherdose.com they are the leader in

363
00:22:50,300 --> 00:22:53,260
workout recovery products. Infrared technology,

364
00:22:53,980 --> 00:22:57,500
LED light masks, neck enhancers, and

365
00:22:57,660 --> 00:23:01,380
other products such as PEMF mats and sauna

366
00:23:01,380 --> 00:23:04,620
blankets. If you have not gotten on the workout

367
00:23:04,620 --> 00:23:08,090
recovery train yet, your time and your stop

368
00:23:08,170 --> 00:23:11,770
is now. You got to get these products in there before these workout

369
00:23:11,770 --> 00:23:14,970
recovery and spas end up saturating your market.

370
00:23:15,370 --> 00:23:18,890
Having your members walk out of the club and going into one of their locations

371
00:23:18,890 --> 00:23:22,529
for 200 bucks per month where they're paying 39 to

372
00:23:22,529 --> 00:23:26,370
you. Let's become an expert in workout recovery. If we

373
00:23:26,370 --> 00:23:29,690
are already an authority in workouts, Higher Dose,

374
00:23:30,250 --> 00:23:33,830
check it out. There's a wholesale code and we look

375
00:23:33,830 --> 00:23:37,070
forward to helping you augment your products and services

376
00:23:37,550 --> 00:23:41,350
to meet the demands of your members. And hey, let's get people

377
00:23:41,350 --> 00:23:45,150
happy, healthy and sweating. And the recovery should be

378
00:23:45,150 --> 00:23:46,430
just as. Good as the workout.

379
00:23:50,510 --> 00:23:53,670
Well, look, I look forward to meeting with you. We got to keep these around

380
00:23:53,670 --> 00:23:56,750
20, 25 minutes, keep the audience really tight, and

381
00:23:57,230 --> 00:24:00,840
we'll have all the information up on lightstim. We Are there any trade shows that

382
00:24:00,840 --> 00:24:04,360
you're going to that people should know about where they could find you guys?

383
00:24:05,400 --> 00:24:09,200
And you know, tomorrow

384
00:24:09,200 --> 00:24:12,800
we're leaving for. Vegas, the IEC sc, which is a

385
00:24:12,800 --> 00:24:16,280
huge spa and med spa trade show, the biggest one in the country, actually

386
00:24:18,280 --> 00:24:21,880
be there this, this weekend. I think it's at the. The new

387
00:24:21,880 --> 00:24:25,720
convention center. Gotcha. Well, we'll get this out and actually have a couple of

388
00:24:25,720 --> 00:24:28,040
people that are going to be there. I'll have get in touch with you that

389
00:24:28,040 --> 00:24:31,880
we work with. So it'd be great. I love that. Love it.

390
00:24:31,880 --> 00:24:34,960
If we could do another one, I'd love to tell you my Saquon Barkley story.

391
00:24:35,200 --> 00:24:38,920
Okay. Oh, yeah, let's do that now. Let's do that. Okay. Being an

392
00:24:38,920 --> 00:24:42,320
avid Giant fan and I have to toggle to the. To the

393
00:24:42,320 --> 00:24:45,800
Eagles every once in a while, mostly because of Saquon and because of Brian

394
00:24:45,800 --> 00:24:49,600
Mitchell, Ashton Mitchell, Riley Mitchell A. Mitchell, and Eric Cassberry.

395
00:24:49,680 --> 00:24:53,360
Steve, you're opening for Saquon. So

396
00:24:53,600 --> 00:24:57,400
about two years ago, Saquon suffered, when he was playing for the Giants,

397
00:24:57,400 --> 00:25:00,680
suffered a high ankle sprain. And at the time,

398
00:25:02,520 --> 00:25:06,320
there were nine games left in the season, I think, and, and basically everybody said,

399
00:25:06,320 --> 00:25:09,200
well, he's done for the season and nobody's going to come back from a high

400
00:25:09,200 --> 00:25:12,760
ankle sprain that quickly. And running back. And

401
00:25:12,920 --> 00:25:16,520
I flew him a bed to his home in New Jersey like within

402
00:25:16,600 --> 00:25:20,200
two days, three days. And he did

403
00:25:20,200 --> 00:25:23,380
like three to four hours a day on the bed

404
00:25:23,860 --> 00:25:27,620
and instead of missing all those games, walks back on the field

405
00:25:27,620 --> 00:25:31,220
two weeks later and sets a personal record of 206 yards.

406
00:25:31,380 --> 00:25:35,220
Nice. If we win that game. I'm not even sure we didn't

407
00:25:35,220 --> 00:25:38,780
win many games that year, but we were all Saquon fans no matter what. Are

408
00:25:38,780 --> 00:25:42,540
you a Giant fan? I have no time for

409
00:25:42,540 --> 00:25:46,380
sports. I'm working seven days a week. This is what we

410
00:25:46,380 --> 00:25:49,300
do. We'll send you a copy of our time to win again book, which is

411
00:25:49,300 --> 00:25:52,660
basically running your company like a sports team. Sounds like you do that already

412
00:25:53,060 --> 00:25:56,540
and keep it in the family. So lightsdim. Everybody here

413
00:25:56,540 --> 00:26:00,300
probably seen it now. You know it. Steve, congrats on what you built

414
00:26:00,300 --> 00:26:04,020
and for helping thousands of people. And we're really

415
00:26:04,100 --> 00:26:07,700
bullish on the med spa space, so I think you're going to be a key

416
00:26:07,700 --> 00:26:11,340
component of it. Go forward and we'll also try and help you

417
00:26:11,340 --> 00:26:14,740
protect your technology because that's what we like to do here at the Square.

418
00:26:15,720 --> 00:26:19,360
Thanks for all that. Thanks for having me on. Was really fun. All right,

419
00:26:19,360 --> 00:26:22,920
man, take care. We'll see you soon in person. All right. All right, take care.