News Scrap

On the latest episode of The Baller Alert Show, Isaac Hayes III joined hosts Ferrari Simmons and BT to talk about his growing social media platform, Fanbase, and his journey as a Black entrepreneur in tech. The conversation covered everything from the challenges of fundraising for Black-owned tech startups to the importance of Black ownership in a digital landscape dominated by major corporations.

Hayes started the interview by addressing Fanbase’s growth, sharing that the platform now boasts over 850,000 users and continues to expand. “We just launched a new feature called Watch Party in audio rooms,” he said. “It allows users to pin YouTube videos inside an audio chat room and watch with friends.” As Fanbase pushes forward, Hayes is currently raising $17 million to take the platform to the next level, with $2.8 million already secured in this latest round.

The hosts noted the significance of building a tech company in Atlanta, a city not traditionally known for tech startups. But for Hayes, the location is a perfect fit. He explained that while many tech companies start on the West Coast, Atlanta offers unique advantages. “Social media is powered by Black culture,” he said. “Fanbase moves at the speed of our culture, while other platforms are always playing catch-up.”

When asked why he chose to create his own platform rather than just profit from existing ones, Hayes responded passionately, citing a legacy of Black innovation that hasn’t reaped the same rewards as its counterparts. “Black people make everything cool, but we don’t own it,” he said. “From the ice cream scoop to the security system, we invented it, but we’re not ADT or Ring. We make social media cool, and I wanted to build a platform where we could own that.”

As the son of legendary musician Isaac Hayes, Hayes III knows the importance of building generational wealth. He stressed that social media platforms like Facebook and Twitter rely on Black culture to thrive, yet none of them are Black-owned. “If you look at every major entertainment industry – music, sports, film – Black people are the culture. But we don’t own the infrastructure,” he said. “I want Fanbase to be the first Black-owned social media platform that allows us to profit from what we create.”

The interview took a personal turn as Hayes discussed his experiences raising capital as a Black entrepreneur. He acknowledged the struggles of obtaining funding in an industry that’s still dominated by White founders and investors. “It’s hard raising money for a Black-owned tech startup. I’ve raised $10 million so far, but it’s been a battle,” he admitted. “It’s all about showing that we can build something just as big as any platform out there.”

The hosts praised Hayes for his efforts to bring more awareness to the need for Black ownership in tech. Ferrari Simmons highlighted how Fanbase is becoming a must-visit stop for artists visiting Atlanta, as crucial as iHeartRadio or any other major media outlet. Hayes expressed gratitude for the recognition and talked about the importance of making Fanbase a staple in the city’s cultural landscape.

Hayes also spoke on the value of equity, urging the Black community to think beyond cash and consider the long-term benefits of ownership. He shared stories of missed opportunities, including how major celebrities like Magic Johnson passed on early deals with companies like Nike, which could have made them billionaires today. “Ownership is where the real wealth is,” he said. “If you’re just taking a paycheck, you’re missing out on the bigger picture.”

Throughout the conversation, Hayes emphasized that Fanbase isn’t just about creating another social media app. It’s about creating a platform where Black creatives can profit from their content without being suppressed or sidelined by algorithms that favor mainstream audiences. “We don’t control the narrative or the platform. With Fanbase, we control both,” he said.

As the interview wrapped up, Hayes encouraged viewers to invest in Fanbase, noting that even a small investment could be part of a much bigger movement. He also gave a shout-out to high-profile investors like Charlamagne Tha God and Roland Martin who have already thrown their support behind the platform. “The minimum to invest is $399, and with that, you get to own a piece of a company that’s on the rise,” he said.

Isaac Hayes III left the hosts and viewers with a powerful message about the future of Black innovation and ownership in tech. “Social media wouldn’t be what it is today without Black culture,” he said. “It’s time we own the platforms we make popular and start building generational wealth.”

For Hayes, Fanbase is just the beginning. As he continues to push forward, he’s determined to make it a billion-dollar company, proving that Black entrepreneurs can succeed in tech and create platforms that empower the community.