How's it going everyone? I Have a very exciting interview for you all today. I'm sitting here with Mr Damian Scavo who happens to be the CEO and founder of Shreepeat, a retail trading Centric platform that I actually think happens to be one of the coolest ones on the market today. Obviously we're going to be getting into that, but his story is much cooler than you could possibly imagine. so we're going to be getting into all of that as well.

How are you doing today? Very well. Thank you and you! How is your day having an absolutely fantastic day? So of course we can get into this amazing new app street beat. We can get into your serial entrepreneur history. three successful exits which is awesome.

You have a very like a lot of cool things going on humanitarian efforts. It's a laundry list but really where I Want to start at I was doing a little bit of a deep dive on you and it says you're a parachutist. So what's going on there? Tell us how you even become a parachutist. What in your mind thought I should jump out of planes? Exactly a fun story.

I was driving a lot in Italy between Milano and Florence for work and I was taking some serious tickets speed tickets and I was like all of them I really need to find another way to commute from Milano to France So I was like let me try to get a pilot license but before doing that I also want to learn how to jump out of the outcome in case something go bad. So the first thing that I did is I took parachuting classes so I learned how to how to do that and was very scary also because at the third one I had a bad accident basically I dislocate my shoulder when John after jump three times and I had to fix it three times before being able to open the parachute. So I opened the parachute very low only half of a second before the emergency deployed and and so I took it easy. So I jumped only other 10 times and then I stopped.

Okay, wow, that is an absolutely crazy story. Speaking of your story, it sounds like yours really gets going at a very young age of six. Now please correct me if I'm wrong, but your past is kind of encoding. You're very familiar with software software development data and it sounds like you actually started coding at six.

Can you explain how that all came about? Was it a parent that push you? Did You have a natural proclivity? How did you know at six you're like I'm gonna code Yes. So I I was um we were in Buenos Aires My family was some one of those family that escaped Europe during this after the world war after the second world war and we they moved to Argentina and we grew up in Las Vegas one of those places where is very likely that somebody will shoot somebody and or Point again at you which happened to basically all my family and but my mother was particularly uh she was about. She's a very lovely person and she put a lot of effort into the education. so we were very poor but the little amount of money that we had, she wanted to put it in education.

So I was going to this school where they have these Commodores and they were teaching me the basic of programming and also English uh when I was like five six and I loved it I loved computer I loved every time that somebody will bring to me something I will disassemble it. my father will say I I like to say that I like to build and disassemble artwork since N6 but my father would say you like to break Hardware since you had six more than anything else. so I always grew up with that and also in middle school I have the opportunity to. It was very rare because there were very few computers that I can access in general people can access and in high school I chose one high school that Ed Coding was an experimental high school in.

Italy we are talking about the 90s and so I was able to do God in all the time I I we were too good to have a computer at home. Finally, I got my first Amiga 500 when I was 17 at home and then PC when I was 21 and internet when I was 22. Okay, so it was very very very difficult for me. so I often was cutting on paper and then running it on the on the computer at school when I had the computer time back then but that was always my passion.

that and ready. So I always liked to do paper trading when I was a kid looking you know at the numbers I Remember this game was called a train where is a crane simulator where you run the train station Etc But inside the train there was the trading part and I was disregarding a train and and I was focusing on the on the trading side and that was always my passion. Um and so I grew up doing a lot of this. Wow and it sounds like you got started with it pretty early.

I Believe one of your first coding slash trading jobs was with a place called List Group um, kind of a an electronic exchange over there in Europe Uh, could you tell us a little bit about that one? Yes! So this group is uh, was at least today an amazing group of people. Originally this group was building Central stock exchanging partnership with other companies and a peripheral system of this Central Stock Exchange So the client that I don't know a bank will use to trade in the bond market in Europe and then they started to build what today we call ifrequency trading and Algo Trading software was an exceptional group of people uh very very smart that were actually at the Forefront of what today in Europe is everything that has to do with Bond I I Frequency trading Aldo training and now much more than that. So my first job there because I love that company because it combined dot Tech and finance. My first job there because I was speaking many language at that time was actually I started as an assistant that was actually in relationship with all the customers and it became fantastic because in a matter of years I was very expert on everything that has to do with Albert trading in the client house.

So I will be inside the server room at a big bank that is a market maker. I will be in the front end helping them to build the algorithmic trading strategy inside something that looked like Excel that is not as similar. and this company now we draw a lot is a multi-billion dollar conglomerate, not a company with multi-billion dollar Revenue private owned by a very smart uh Italian and British person and the great great guy and that's where I learned a lot about high frequency trading and I'll go trading. The first day of job I saw a bank borrowing 400 million euro to another bank and I was like 21 and it's just like and they were just using the software that this company was building to do those transactions in in milliseconds.

man what? Uh, almost like a fast track for learning about the markets. There you are in your young middle 20s and it's just like huge numbers, influential people like real true rainmakers and deal makers. I I can't even imagine like all the stories you have from there, but obviously you enjoyed it enough because from there you kind of took it to the next level of trading with your own trading desk. Is that right? Yes, what companies that in in Europe there was less the culture by that time.

Now it's different to give shares to the employees. so I felt that I was learning a lot I was growing a lot and I will be forever thankful for everything that I learned. they were very passionate. we maybe was mention I was just 21.

but I couldn't actually express my entrepreneurial Ambitions as I was not part of the shareholders or it was not real about to grab shed or anything like that. So what I did is okay. let me start my own journey. I By the way, I waited a little bit because my father when my father passed it away I was like uh, 20 right before I started work and we didn't have any money like we literally had no money to pay the actual coffee of my father so we had a lot of that.

So for a few years I was working in paying back all the depths that we had so my mother could have a good pension, etc etc. with my amazing brother and my amazing mother. and then when I pay all the debts we went a lot I say okay now I can I can start finally my own journal and the first thing that I did was basically I created my own trade index proprietary with other people and we started to use that software as a private Traders and into the market and was an average internet. We were profitable from day one.

we were doing high frequency trading and scalping originally covered warrants then we expanded it to other other asset classes. It was a great journey I did that till 2010 and then I decided to take a Sabbath gear in which I did a lot of other things private the world mostly I loved microfinance I met Eunus the Nobel Prize for Peace amazing individual. he inspired me to do some projects in West Africa I did a lot of mindfulness and meditation training I met with many gurus and spiritual teachers and coaches around the world and I learned a lot about emotional intelligence and life and was an amazing amazing year and I'm still doing a lot of training and then I did travel so much that I counted like 30 spin around the world by age of 31 and and then I decided I was time to move to my next venture and and I saw that the Bay Area will be great for me. So I moved here which which I didn't know anybody and I started my own company I put all my money in it so a movie of that I had almost nothing again because I was putting all this money on this data company collapse with which ultimately did well with several amazing individuals that I came across during my past.

My with Founders and the founders and team member we had a very great very good people in the team was an amazing journey with a lot of crazy stories. also that one that was a data company that was selling data to media and and Edge once also again at one point and we can talk about it if you want man. I'm just sitting here fascinated because you have such a unique background of like obviously there is a coding data aspect to it. There's a love for trading there you were in Algo trade a data driven Trader high frequency Trader um I don't want to like brag too much for you but what I read on the Internet is you guys did really really well and then before that obviously your own personal story of everyone loves that story like kind of the grit of like people who like really had to fight for it and I don't know what I see you doing now with Street Beat of like yeah it's still data yeah it's trading but also you still have that helping aspect which I mean at one point you were taking a break to do some of this like giving back to the world and obviously on a personal note, you care a lot about mindfulness and like is that like are you almost trying to like balance it all out like is that how you view it? Just like To me, this is the type of mindset that is huge Rarity in Wall Street Maybe it's because of movies, maybe it's because of sitcoms, but when people are entrepreneurs, especially in Wall Street it's money money.

That's what I care about. How do I get more? But then here you are a clear success and it doesn't seem to be that at all. Yeah I Found this model I would like to share it with you. It's called The Wheel of Life in which you divide the life in eight areas where you have family, friends Health spirituality or aspiration.

If you are artists and you have Finance work and eight areas I I would like to show it to you I will send it so you have the the pie with eight areas and maybe I is Yeah, it's okay if you are if you are making a lot of money, but you know you, you've ruined your family, your health, You you don't have any friends Etc I Don't think that that's real success I think that's a real scrub about opportunity of a nice life and I think that at the foundation of a nice life, there is a balance on the eight areas of your lives like the one and many areas of your life. Like this schema that I learned from a coach called Paulette in Italy this schema that's represents much better. the life and having a balanced life make everything better. make everything work better.

So uh in this Balanced Life there is also one of the Italian eight areas are community and Community can be your neighbor, can be your. the plants in front of your clubs can be your country, whatever you decide is connected for you. but if you include all these areas at the same time uh, it's a completely different conversation in which you have the eight areas and then you see where you are on each of net. okay and you try to keep it balanced.

So yeah, so that's one part. So I try to keep many areas balanced but also on the other side I remember I was in in Berlin and I remember I just came back from this area where there was the mortality rate was 20 back then then. yeah and people were literally dying on the street at that time and was very intense and and we were trying to do what we could over there and you feel you feel that this is much bigger than you. you just like you are like putting a little thing over there.

Sometimes you don't think can trigger a lot of reaction but right now for example Benin is much better but at that time was very bad and I remember on my flyback from Benin that got through Paris I remember having this two woman complain that yeah that this first cut was losing air that they didn't make. they forgot that they used to make in the past and I was like wow like this thing these people should really take them how can you complain about this and for me was mind-blowing so been in contact with and since I'm 18 I also did a lot of voluntary in the hospital. so you go there and you have whatever you need to change in helping somebody you know even change diapers doesn't matter and that's keep you grounded in my opinion and keep you um trying to see life or what it is more than you know what is no and that's also why I couldn't I Went through a lot of my life without money. We talked to many problems because the happiness for me came from quality of the relationship and other things span.

of course money is useful and I and it's great and I want to help as much people out to make as much money as they can. but yeah it's not just money money no man I Feel like this is a great philosophy? Talk of just a it's a sobering. Like you said, it helps you keep grounded a little bit more Bass of the other things going on because it shows from time and time again. we could get a little bit too obsessed with one thing and we missed the forest from the trees type of a situation man.

I Love that. So with all this crazy experience entrepreneurial whether you're donating your own time, your own familial backstory It All Leads to your current Endeavor which is street beat, so can you give the audience who maybe hasn't heard of it yet a rundown of what it is, the elevator pitch and then we'll dive a little bit more into like why you're even doing it? Yeah, sure. So I in that way, we were selling also data to to many data companies including some management and uh, so we were also massaging data from many many hedge funds. We had tons of experience in that and we saw the Electron have in all these tools to invest.

They have satellites, data drones, data, they have insights from apps usage Etc and then on the other side and they have all algorithmic thread in high frequency trading auto trading Etc and on the other side um, retail investors usually have mostly manual trading. If you are a developer, you can own almost a developed. Maybe you can cut some some algo trading? maybe, but it's a sub percentage of the population. Manager: The people have access just to manual trading and manual trading.

Historically lose money like historically manual trading by itself and then covered heat. and there was a lot of people doing manual trading so my dream was oh gosh all these people as soon as the market turn will lose a lot of money I wish I could bring to Market at all that will protect them in the bear markets and will actually give them more tools compared to what it is today. So Street bit was one because I had like 60 70 people were asking me hey based on your data what is good today what is bad when I was in Italy and I couldn't I couldn't use that data to give any insight to retail and I was not done registering business advisor so I couldn't give them the signals that I instead I was seeing and and so stream it was to answer all these. So to close the gap of course Renaissance has a billion dollar in inches in data.

Now it will take time but if there are a lot of low angling fluids that we can do also with our little amount of money little amount of user we have like 30 000 paying customer. right now there is stuff that we can already do and we are doing it and that's why it did so and our customer did so well last year and we'll do that in more in the future. plus generative AI is actually from this point of view, it's actually a great democratizer because for example, the news analysis that the Edgeman used to do with the proprietary technique charge ability can do it much better. faster, faster, maybe not that much better at a fraction of the cost.

and uh, so that's another feature that we're gonna add to three big So all the news will be analyzed and if you impact directly or indirectly assets on your portfolio, he will tell you I will suggest what to do or you can let him do it automatically. So if a good news hit the Microsoft I don't know open AI is now release inside Google doc and it's awesome and that will impact I don't know Google negative he will suggest automatically hey, you should overweight this and I'm under waiting all automatically which is something that H1 have been doing for 20 years just that nobody actually bring that to the retail. so I just want to be one of those little ants that close that Gap you know and eventually probably also I would love to generate a path that many other can copy and follow because I think there is a, um, some good stuff that you can do in this regard and we are still not doing manual Trader lost ton of money last year if you look at Robin or the earning calls by itself I think they are compounded, they are done 62 percent that I think page 27 of the evening call of 2022 and you can see how many billions they lost and so we need to fix that. Okay, probably don't need to fix that and the 300 broker out there need to fix that.

I I'll give it more tools, better tools to the people now only beautiful device because oh my God the Uis people like we know this is fantastic but let's give them more tools. not just a nice UI that people can use you know. So to clarify, obviously if I download it you can get it on your phone I'm gonna see this beautiful UI similar to Robinhood or Weeble and even though I have my qualms with those companies, we'll we'll give them respect where it's due. It is the UI ux It's great so it sounds like on Street correct me if I'm wrong please I could buy and sell stock the way I normally would.

but on top of it it sounds like there's some other services where there's a lot of data involved. It sounds like you guys have fancy data. It sounds like Ai and chat Gbt have fancy data and uh, what? you're using that all together and then what is a giving recommendations to the user Or if I were on it right now and we were sitting together playing on the phone, how would that other part? Because it sounds like that's the thing that really sets Street Beat apart from everyone else. Um, so could you give us like that side of it like really, what does the user get? Yes! I Would like to use a video hello and welcome to Street Pete We will demonstrate how Street Beat allows you to invest like a pro and also customize your strategies using artificial intelligence.

Let's explore how it works. The app is designed to help you create, analyze, and invest in personalized trading strategies. You can choose a professionally curated investment strategy managed by Street Beat or create your own strategy. This is an example of the home screen.

Let's start by creating a custom strategy. hey Street Beat I Want to invest in Tech and sustainability? Thanks to the AI integration, you can leverage artificial intelligence to create your own personalized strategy. Street Beat analyzes your request and creates a tailored strategy based on the current macroeconomic environment, your inputs, and your risk profile with available stocks. and ETFs Once the strategy is created, you are presented with an analysis of backdated results.

You will have access to important metrics such as the sharp ratio and the historic P L to evaluate past performance. Before investing in your new strategy, you can access Vital Information to help you make well-informed decisions. Personal strategies used to take hours or days to create Street Beat is making it faster and more accessible to everyone. The app automatically rebalances the positions of the suggested stocks and ETFs based on the latest news, available, data, and other factors, Street Beat updates your strategy and keeps you informed every step of the way on all the decisions the AI makes.

And if you prefer, you can also buy and sell stocks directly from the app. Now it's that simple to invest like a pro manually or as part of a larger strategy. Its sophisticated. Invest Sting Made Simple This is just a quick highlight of the data-driven investment capabilities of Street Beat.

Give it a try and see for yourself! So I am one of the many members of Wall Street bed from a lot of time ago or investing our investing I Love when our investing will lose money with friends because I Love! The tagline was delighted and but we were already two million people like that. And and yeah, the goal of three bit is help these people uh, that more for uh, what they pay for. You know we also don't participate to payment for all the floor because we think that that's a misalignment. We don't want the people to trade a lot.

we want the people to. Okay, so my goal is to give you as much Smart Tool as I can for as little as money as I can and build one day. Potentially, we left hundreds of millions in revenue and we can give millions of value in tools. Okay, so that's the goal of street View and I like the allegory of the chess player.

so uh, because you know I'm also in Anarchy Chess or chess I know there's a couple of spreading so I mean uh Manning Carlson It's a top player in the world probably ever and he cannot really beat a computer a chess since basically 2006 2007 the yellow of computers back then already Skyrocket they are like 50 percent higher of Taylor I do know and what 10 percent is but I'm definitely an open Cats and Nayel is probably one thousand or even less. And the thing is if I want to trade in the stock market, why don't use computer versus manual trade like of course the computer. It will be better. Me and the computer will be better than me alone.

So the thing is, let's give the technology that we know scientifically that it work like. there are a lot of papers that show for example, data and calibrating based on news. uh, you can actually understand next day movement. but the thing is to do it at scale and and data driven and Technology require a lot of infrastructure.

Okay, let's say one company should be do it once for everybody. Okay and every time that there is a scientific approach that works, let's just suggest we could stream it. Let's double check the paper scientifically and if it works, then we implement it for every user. That's the approach that that we want to have.

Institute I Like that pitch. It's basically a as technology advances, why not many things Advance with it. So instead of doing that manual, let's almost call it retail gut Pace Trading Well, now you're just doing it with Ai. Ai is assisting you I Have to admit I guess I didn't really have the maturity to use your platform properly because the first thing I did when I was talking into it to create me a strategy I said create me the best strategy in the entire world and I'm not getting at all I'll put the picture on the screen.

it's up like three percent right now I put money into it and it's actually been doing really really well. I was like oh, maybe it is the best strategy in the entire world but I like that concept. but I guess another place I would love to go from here is some people would argue that AI is a fad and it it's just a flash in the pan. It's a buzzword that every company is trying to throw on their earnings announcement, their earnings report just to get a little bit of a bump and it's not here to stay.

I mean I'm assuming you highly disagree with that So well. I've been working in the space for a long time and I saw many waves of AI with a pick on 2012, that seems that we were getting there. but no. and but the Llm is a type of model that is actually significantly and impactful life.

I think that's um, we have. We will do things much different in the future as Instagram you can now totally understand what you are talking about and reply based on what you need and what you ask. Uh, that's functionality was sci-fi one year ago. like was so difficult even to invent the code.

Instead, it took us few weeks of Uh development to have the first beta in production and so the word is change and the problem in my opinion is how to prevent this to be abused. And that's another completely. Chapel So what would you say to the people right now who are listening and they're like, you know what this sounds like the classic saying of if it's too good to be true, it probably is like there's probably people listening to this right now and they're like hey man, I've been through the whole retail ape war with Robin Hood and then we got screwed by them I Don't really like Weeble because I Heard about this payment for order flow thing and now you're sitting here talking about Shriepie. You have a very impressive story, but you're saying Hang on? We're approaching it a little bit differently.

but what about the people who are on the fence and they're just like I don't know I like what you're saying and we all want it to be true. We all want that almost like Financial salvation. almost the financial savior like of. Because of course we all want a little bit more money.

So what would you say to the people who are kind of like a little bit? Worry about it because like yeah, we can all show beautiful graphs going from the bottom left to the top right. but I mean I guess you have those stats and figures of like retail performing better on your platform versus others or anything related to that. Yes. So first of all, we it's We.

I we had an investor advisor, right? We It's not that we can guarantee any particular future results. We can use a scientific approach and give the tools to the people and that people can play and use them by themselves. People I think can get much less hurt the Immanuel one single stock then actually having a clone glomerate of strategy, each of them following their desired Intuition or goals. each of them traded a conglomerate of stock at ETFs No.

So you in few minutes you have a very Diversified portfolio and very investment structure so that by itself will help people to navigate the market backer. Then you put this approach on top of it and it will do even better than choose no approach. Okay, choose a portfolio passive manager. Etc So that's I Have the two things that we can say at the same time you saw in the past what happened with manual operators and you can just look at the chart of the average Robin user.

unfortunately and that's the type of people that we want to help to do better and this approach is an approach that has been used for 20 years by professional. Even more, we choose that we're not easy available to people so the challenge for me is how can I make it easy available and how can I make it without the rest amount of money that you know everybody can can have access to So that's my challenge. Not easy, not easy. Challenge and we may succeed.

I Mean we may fail. we don't know, but definitely support. The numbers are positive but for us as a company and for the for the user last year our user using our strategies on average they did plus five percent on stock plus 4. something percent on stock and plus seven percent on Cricket last year and we could only go long one day.

I will be able to offer also short trading strategies and we still need to do a lot of work with compliance to be able to offer a short long short straight instructions. We like them to be not only Market sector so we will get that we need. We need a little bit more time that definitely, uh understandable. I'm sure this type of tech and the regulation there's a lot to overcome there before this.

I was messing around on the app and like you said, the UI ux beautiful I Really think the AI integration is pretty cool. obviously no one else is doing it actually. I was looking a little bit and it sounds like you're the ones with the patent on it so you might be the only ones who do it. I Don't know if we're allowed to here like I Don't know if you're letting uh, the cat out of the bag, but could you give us any indication of the things that you want to add in in the future? like you have other cool things coming or is that all hush hush right now? Well we have a lot of things coming.

One of the things that we have coming is for example, every week he will check the overall portfolio that you have trading in all our strategies and it will recommend based on portfolio Theory how to rebalance your position. So for example I don't know in the last test that I did he told me that I am overweighted in technology because 75 of my my portfolio was in tech company so it's suggested to reduce the system, suggest me to reduce the portfolio for 40 from 75 to about 45. Tech and then the 30 percent that he cuts out of my portfolio. He suggested me to diversify Commodities and other assets classes, bonds, and other asset classes that were coherent with my risk profile.

okay. and and then I accept it I Pressed the button and he did the recalibration the next day. all automatic. Okay, and that's one functionality that we are working.

Another functionality is the news analysis in cluster like I I suggest to you not only when a news impact Google but also his sector or Traverse impact another company. and then there are more things that are there a bit too early to talk about, but I ultimately a couple of months to be able to share more and they all include the possibility for the user to interact with 3D like it's talking to an investor advisor. Well, in a couple months when all this stuff comes out I Hope to have you back on because uh, for me personally with my background in Tech I Really like just seeing people do different things that the market does not have yet and obviously integrating it with AI it's a novel idea and I think right here. It's nice to hope that can actually help retail get more money thus far your your data is looking pretty promising and let's hope that the numbers get higher and higher.

but overall for me in the audience I Truly appreciate your time today. I Will make sure for anyone care curious about what's going on I'll put all the social medias and the links in the description of this video below so you can check it out and you can reach out to the company and see the socials and whatnot. But thanks for your time today and for you we appreciate it. Thank you very much thanks to you and if anybody want to reach out we are a pretty responsive button Discord on the news program right now or inside the app.

We have a possibility to chat with our team and they can directly schedule meeting with me if anybody have questions. I Will be happy to talk with anybody that have ideas or want to have something instead that is not there yet. Oh wow, that's really cool. Thank you very much to everybody.

All right have a good one! Thank you Bye bye.