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FULL TRANSCRIPT: Tiger Woods Winning Interview – Masters 2019 | Convert video-to-text with the best AI technology by Sonix.ai

Moderator:
Tiger, welcome back. Or should I say more appropriately, welcome home?

Tiger Woods:
Yeah. Just unreal. To be honest with you, just the whole tournament has meant so much to me over the years. Coming here in '95 for the first time and to play as an amateur, winning in '97, and then come full circle, 22 years later, we will do it again.

Tiger Woods:
And this is the way it all transpired today. There were so many different scenarios that could have transpired on that back nine. There are so many guys who had a chance to win. Leaderboard was absolutely packed, and everyone was playing well. So, you could have had more drama than what we all had out there. And, now, I know why I'm balding. This stuff is hard.

Tiger Woods:
Yeah. Just to come back here, and then to play as well as I did, and did all the things, all little things well this week, and to do it here. This has meant so much to me and my family, this tournament, and to have everyone here, It's something I'll never, ever forget.

Moderator:
This is clearly one of those monumental days in all of sport when people all around the world will say, "Where were you when Tiger won his fifth green jacket in 2019?"

Tiger Woods:
I know where I was. Yeah, I had a little one-foot tap-in. So, it hasn't sunk in at all. I mean, this is one of those things, It's going to take a little bit of time, and I'm just fresh off of just winning this tournament, and I just can't wait to see how it all unfolded from the TV perspective. I know I was grinding hard trying to chase Francesco today. And then, all of a sudden, the leaderboard flipped, and there were a bunch of guys up there who had a chance to win, and I hit some of the best shots on that back nine today. You know, I felt like I just flushed it coming home, which was — well, it's a nice feeling.

Moderator:
Questions, Jim?

Jim:
Tiger, congratulations. When you walked off the green, and you saw your mom and your children, did you flash back to your dad in the initial win?

Tiger Woods:
Yeah, absolutely. My dad shouldn't have come in '97. I mean, he had heart complications and wasn't supposed to fly, but he flew, and came, and gave me putting lesson on Wednesday night, and the rest is history. My dad's no longer here, but my mom's here, 22 years later, and I happen win the tournament. And then, to have both Sam and Charlie here.

Tiger Woods:
They were there at the British Open last year when I had the lead on that back nine, and I made a few mistakes, and cost myself a chance to win the Open Title. I wasn't going to let that happen to them twice. And so, for them to see what it's like to have their dad win a major championship, I hope that's something they'll never forget.

Moderator:
Ted?

Ted:
Tiger, congratulations. And comeback is going to be the word we're always going to think about here. So, how would you describe that for yourself? And also the doubts, since some of us who saw you at Torrey 11 years ago, it's a long time now, and the doubts that you could ever do this again.

Tiger Woods:
Well, I had serious doubts after what transpired a couple years ago. I could barely walk. I couldn't sit, I couldn't lay down, I really couldn't do much of anything. Luckily, I had the procedure on my back, which gave me a chance at having a normal life. But then, all of a sudden, I realized I could actually swing a golf club again. And so, if I could somehow piece this together and that I still had the hands to do it. The body is not the same as it was, you know, a long time ago, but I still have good hands.

Tiger Woods:
And so, that certainly has helped, and I've pieced it together, and next thing, you know, if you look at it, my first 14 wins in majors were always — I had the lead in every one of them or tied for the lead. To have the opportunity to come back like this, it is probably one of the biggest wins I've ever had for sure because of it.

Moderator:
Gary?

Gary:
Tiger, I don't know if you know, but you broke the streak. I had mentioned to you about winners who were in the top 10 the last 13 years. You were tied for 11th after the first day. So, you broke the streak, that you were the last one to do so.

Tiger Woods:
Congratulations to me.

Gary:
Yes. But you mentioned about this shot you hit coming in. After the tee shot on 11, was there anything that you relied on? Tee shot on 12, drive on 13, 14, 15, tee shot on 16, tee shot on 17 and 18. Was there anything specific that you leaned on?

Tiger Woods:
No, nothing specific because I felt like that was probably the strongest part of my game all week was driving the golf ball. I've been working on trying to shape the golf ball both ways coming into this event. And, you know, I was able to do that.

Tiger Woods:
And, yeah, the tee shot at 11 was awful. You know, I leaned on it, trying to hit it, trying to flight it a little bit ,and it got stuck underneath there. I had a shot. And I just kept saying, if I just sneak out of here with the par, we got a lot of golf left. And we have two par 5s, gettable pin at 14, another one at 17, and anything could happen up at 18.

Tiger Woods:
And so, I just said, just keep plodding along. And then, next you know, I see Brooksy make a mistake at 12. Francesco made a mistake at 12. Patrick was making a run up ahead. DJ was making a run. I mean, Xander was making a run. There were so many different scenarios that evolved. And I was looking at the board come off of 13 green. And then, there's six, seven guys with a chance to win this tournament.

Tiger Woods:
But I just kept telling myself, I have — well, along with Francesco, we have the most holes to play. So, whatever they do, I'll just birdie the same holes. Then, it's a moot point. And as you know, I birdied 13, I birdied 15 with two good shots in there, and almost whooped it at 16.

Tiger Woods:
So, that gave me the cush. And I kept telling myself on 17, on that tee shot, I said, "I've been in this position before." I had a two shot-lay with DiMarco and bogey, bogey. Let's go ahead and pipe this ball right down the middle. Let's hit the little flat squeezer out there, and I did, I just smoked it. I made par there.

Tiger Woods:
And then, 18, I said, "Hey, it's not over yet." Arnold lost the tournament, lost the hole with a double. So, let's just keep the hammer down. Brooksy could still make birdie up 18, and I can make bogey with. And the next thing, we're in a playoffs. So, it gets this ball in play. And I did. And I saw him tap out for par, and that gave me the cush knowing that I could make bogey.

Tiger Woods:
And I had a little bit of mud on my golf ball playing that shot, and I said, "Just make sure I overcut this thing. Don't undercut it. Overcut it to the right." And I did. I whiffed it, and hit it over to the right, and I was able to put that ball on the green and two-putt.

Moderator:
Kara.

Kara:
Tiger, you hadn't had the lead here on a Sunday since you won in 2005. When you had it today, was it like getting back on a bike? It was like you had never gotten off, or what was that like? What was your comfort level?

Tiger Woods:
It didn't feel unfamiliar because I had the lead at the Open Championship. So, that was just two majors ago. So, now, that would be something different if I didn't have the lead from '05 to now, but, you know, it was just last year in July that I had the lead.

Tiger Woods:
And so, I just kept saying, "I've been here. It wasn't that long ago. Just go ahead, and just keep playing the game, keep plodding along, and keep doing all the little things correctly. You can't miss the ball in the correct spots. Be committed to it, even if the winds puffing up and down. Be committed to the shot, and the shot shape," and I was.

Moderator:
Jeff.

Jeff:
Tiger, you appeared to exude extreme calm. Is that something you are sensing and aware of? And. also, is that something attributable to the gum, and why gum?

Tiger Woods:
Well, I'm chomping on this gum because I usually get so hungry, I keep eating so much. And it curbs my appetite a little bit, which is nice. Most of time, most of the issues I have at tournaments, I lose so much weight as you all know. And so, I'm aware if that's what it is. But what was there the question?

Jeff:
Calmness

Tiger Woods:
Calmness?

Jeff:
More than normal. did you just feel it?.

Tiger Woods:
Well, I just felt so prepared coming into this event. This year, my finishes probably don't really reflect it, but I was starting to shape the golf ball the way that I know I can, which I needed for this week. And prep for the Masters starts six months ago. And so, just trying to make sure that I get ready to peak for this one week, and I did, and everything came together this week, which is great. And I kept all the little things correctly. I missed it up on the correct spots time, and time, and time again. And if I was out of position, so be it. Take my bogey and move on. And no doubles this week. And just kept — as I said, I just kept plodding along.

Moderator:
Aman.

Aman:
Since your kids are growing up now, do they have a deeper appreciation of the work that you do? And second is, Joey and you had a conversation after five, Just some insight into that.

Tiger Woods:
Yeah, I think the kids are starting to understand how much this game means to me and some of the things I've done in the game prior to this comeback. They only knew that golf caused me a lot of pain. If I tried to swing a club, I would end up on the ground. And I struggled for years. And that's basically all all they remember. Luckily that I've had the procedure where that's no longer the case, and I can do this again. And so, you know, we're creating new memories for them, and it's just very special.

Tiger Woods:
The talk that Joey and I had off the five, I think he just listened. I was saying some things I can't really repeat here. And then, I went into the restroom and proceeded to say the same things over and over to myself. And then, I came out and I felt a lot better.

Moderator:
Robert.

Robert:
Tiger, congratulations. 1 through 14, I know that all majors are special to you, but one you usually have your focus on because of what it meant to you with your dad, and 14, obviously, had significance too with Torrey Pines. Where do you put this one?

Tiger Woods:
I mean, it's got to be right up there, right, with all the things that I've battled through and just was able to be lucky enough and fortunate enough to be able to do this again. It's ironic that I'm given a chance to play golf again. And lo and behold, I won a tournament coming from behind, which I had not done for the first 14. So, it's just amazing.

Moderator:
Jessie.

Jessie:
Tiger, my generation, we kids who grew up in the late '70s, the '80s, the '90s had to hear from our fathers about how great the 1986 Masters was with Jack Nicklaus in the crowds. Given what you remember from that tournament, that final round, maybe watching it on TV as a kid, and now being in this arena, does this Masters enter into that conversation as a possible rivalry as to the best Masters final round?

Tiger Woods:
I don't know if it is or not, but I can tell you that '86 meant a lot to me because that was the first memory that I have of the Masters. Seeing Jack celebrate a 4-iron in the green on 15, when he did that. I mean, I had never seen anyone celebrate an iron shot into green before. And so, that's the moment that stuck with me.

Tiger Woods:
And then, I remember seeing him hug Jackie there at 18, how special that was. And then, I remember, obviously, Seve made a mistake at 15, and Greg made a mistake at 18. So, the '86, and he was 46 years old. I'm 43. We had little spells in between. I mean, he had, what, six years or so, I think, where he didn't win a major championship. And for me, it was 11 years. So, in either case, and I think that's what everyone else is — that's for them to decide.

Tiger Woods:
It's special to me. It's special to my friends and family. And I think that everyone out here who is here got a chance to witness something that was amazing and just the competitive environment. I mean, everyone was playing well at the same time. And it could have gone so many different ways. I just happened to hang in there and persevere.

Moderator:
John.

John:
Tiger, for those of us watching, 12 seemed to be the seminal moment. When Francesco's ball went in the water, did it change anything you were thinking? Was it always going to be over the bunker, center of the green?

Tiger Woods:
That's all I was concentrating on. I had 47 over the first tongue in the bunker there. And so, my number was hitting at 50 and just be committed to hitting at 50. There's a reason why. I saw Brooksy, he ended up short. Poults ended up short as well. And so, when I was up on there on that tee box, and it was about my turn to go, I could feel that wind puff up a little bit, and it had been something. I mean, Brooksy is stronger than I am, and he fights it better than I do. And so, I'm sure he hit 9-iron, and didn't make it. And so, I knew my 9-iron couldn't cover the flag. So, I had to play left. And I said, "Just be committed. Hit it over that tongue in that bunker. Let's get out of here, and let's go handle the par 5s," and I did. Yeah, the mistake that Francesco made there led a lot of guys back into the tournament, myself included.

Moderator:
Kirk.

Kirk:
Tiger, do you think Jack should be worried now as far as the 18 majors?

Tiger Woods:
Well, I don't know if he's worried or not. I'm sure he's home in West Palm just chilling and watching.

Kirk:
Could you describe the impact you think you've had on your sport?

Tiger Woods:
I think that I've driven a lot more youths to the game. A lot of the guys that are especially on the tour now are training. They're getting bigger, stronger, faster, more athletic. They are recovering better. They are hitting the ball prodigious distances. And a little bit of that is probably a tribute to what I did. When I first turned pro, I was the only one in the gym, except for Vijay. And so, it was just basically he and I for years. And, now, everyone trains. Everyone works on their bodies, besides their game. And even Phil's working out. So, things have come a long way.

Moderator:
Joy.

Joy:
Tiger, I think I have my own personal inspiring story in sports today, but I just wanted to know what is yours? What is your most inspiring story in sport?

Tiger Woods:
Mine? I don't know. That's a great question. There's so many. I don't have one that really truly stands out, to be honest with you. Sorry.

Moderator:
Francisco.

Francisco:
Hi, Tiger. Of all the things that you've been through during the last years was struggling with your body issues. Is there any specific moment that has come to your mind during the last few hours?

Tiger Woods:
The last couple hours?

Francisco:
Yeah. Since you tapped the putt on 18. Is there any moment that has come to your mind?

Tiger Woods:
Not really one moment, no. I can tell you one thing, I'm pretty sore right know. I've definitely let it all go today, and I ramped up the speed. And I'm starting to have a little bit of pop on the bat out there, which was good to see. I can promise you one thing. I'm not going to hit a golf ball tomorrow.

Moderator:
Ian.

Ian:
Yeah, Tiger, the last time you won here, you said afterward that it meant a lot to you because of your father's health at the time. Were there moments today where you thought of him, his memory? Were you inspired by him? Was there a shot out there that you stood over the ball, and thought of him, and some of the lessons he laid down?

Tiger Woods:
The only thing I thought about was on a couple of the putts, like at 12, 13, coming down the hill, and especially the one on 9 was just putt to the picture. That's it. Just putt to the picture. That's what he always taught me to do, and that's what I just kept telling myself out there, just putt to the picture.

Moderator:
Brian.

Brian:
Tiger, was there — over here.

Tiger Woods:
Yeah.

Brian:
Was there a moment, even maybe early in the week before the tournament where you felt particularly good about your — sort of comfortable or so forth about your chances or maybe a shot early in the tournament that felt that way?

Tiger Woods:
As I said, the shots that I was playing throughout this year, or some of the shots that I was going to need for this week, and they were starting to come around. And at the Match Play, I hit a couple really nice draws out there off the tee. And I was starting to feel comfortable turning it from right to left. And I just felt that I'm getting comfortable with it. And pretty soon, I was starting to let it go. I'll start to let the speed go, and start to let it increase, and I did this week. And I started to put it out there. And every now and again, I dropped the tee down and just hit a little squeeze or cut out there.

Tiger Woods:
But even those, I didn't spin it too much, even those would go a little bit further. My swing was getting a little bit better. And more so than any other golf course that we play, you have to miss the golf on the correct spots. And so, I just kept doing that, time and time again. And if I didn't have a good look at a putt, I was going to lag it up there and move on. And I missed a few shorties out there for birdie this week, but I said, "Hey, you know what, that's fine. Everyone else is going to do it as well. Just keep missing the golf in the correct spots." And I did.

Moderator:
Luis.

Luis:
Tiger, you told us on Tuesday that you didn't need to win, but you really wanted to. And you also said that the win at East Lake confirmed that you could still win. What does this win confirm for you?

Tiger Woods:
Well, I can win majors now. The win at East Lake was a big confidence-booster for me because I had come close last year a couple times, but I still need to cross the finish line. And I just didn't quite do it. I didn't do it at Tampa. I didn't do it at The Open Championship. I was little better at the PGA, but, still, I didn't win.

Tiger Woods:
And so, East Lake was a big step for me confirming that I could still win out here and against the best players because East Lake, obviously, it's the hottest 30 guys for the year. And to be able to do that against Rory and Rosey there, it gave me a lot of confidence going into this year. And I said, I want to just keep building on it, and let's try to get the mind and body peaking towards Augusta.

Tiger Woods:
So, my last three major championships have been pretty good. And so, that in itself gives me a lot of confidence going down the road.

Moderator:
Chris.

Chris:
Tiger, I just wondered after you hit the first putt on 18, I don't want to call a quiet moment, but you're standing off to the side while Francesco and Tony putted out. What's going through your mind at that moment?

Tiger Woods:
It's a new green. That damn thing should have broke. I mean, I hit a pure putt, you know. I remember that putt breaking, and it just didn't break. No, but I was saying, "It's not over yet, I still got to make this putt. Come on. Just keep it together. Keep focused. Go ahead and make sure that I commit to, even if it's a one-and-half-foot putt. Commit." And I did, and knocked it in. And God knows what I did after that.

Moderator:
Ann.

Ann:
Congratulations, Tiger.

Tiger Woods:
Thank you.

Ann:
You have such a huge impact on so many people. Do you have any messaging after this comeback and persevering?

Tiger Woods:
Well, I was very fortunate to be given another chance to do something that I love to do. But more importantly, I've been able to participate in my kids' lives in a way that I couldn't do for a number of years. And so, they are a lot more active than I am, and I'm a little competitive myself. And so, I try and keep up. And I tried to do that for a number of years, and I just couldn't do it.

Tiger Woods:
But now, I'm starting to do it and starting to build. I play with them and then do things in their sports. And it's something that I had always missed because I always felt I could do pretty much anything physically. But then, for a while there I just couldn't even walk. So, now, I'm able to play golf again and do it at an elite level again, which is something that I'm just very blessed to be able to have that opportunity again.

Moderator:
Steve.

Steve:
Tiger, congratulations. I want to know, sort of, a follow up to Ann's question, people have different struggles in their lives. They have personal struggles, physical struggles, and you've overcome these things. What message might you say to people who are struggling? What encouragement would you give them not to give up, to say that you can possibly overcome these issues?

Tiger Woods:
Well, you never give up. That's a given. You always fight. I mean, just giving up is never in the equation. Granted, pushing and being competitive has got me into this position, but it's also what got me out of it. And so, I've always had a pretty good work ethic throughout my career and throughout my life. And I just had to change the work ethic a bit and work on some different things. And so, I focused on that and just keep fighting. That's just part of the deal. We wake up every morning, and there's always challenges in front of us, and keep fighting, and keep getting through.

Moderator:
Scott.

Scott:
Tiger, I'm curious what did Sam and Charlie say to you after it was over? And what have they maybe said to you over the past couple of years that perhaps motivated you?

Tiger Woods:
I don't think we heard — I definitely didn't hear them, because I was screaming. And I think everyone else was too. So, I think that — I think — I hope. I hope they're proud of me. Hope they're proud of their dad. And so, I've been very blessed to have two great kids, and just to have them here to see this, and witness this. I tried and described — they've never been to Augusta National. So, try and describe the slopes, and things, and everything. And I said, "This is a pretty unique event. This is very special. And I really hope you guys are able to come." And so, it all worked out and here they are.

Moderator:
Justin.

Justin:
Congratulations, Tiger.

Tiger Woods:
Thank you.

Justin:
I know you've touched on it a little bit, but it seems like your smile got bigger as the week went on. Can you just talk about how happy you were to be out there, and competing, and then obviously to be able to win?

Tiger Woods:
Yeah, I mean, I had a pretty good feeling going into this week that I was going to be able to contend in this event. I really felt that I was starting to shape the golf ball and my putting was starting to come around. My short game's been there. I know that I made a few mistakes last couple tournaments, but I just felt like it was there. My hands were good.

Tiger Woods:
And I just — as I kept alluding to you earlier is that I just kept telling myself to miss the ball in the correct spots. And I did time and time again. I was very disciplined in what I was doing out there. Even when yesterday, guys were shooting 64 left and right, I was just going around, just handle your business, work going up the board. We still got a lot of golf, a lot of holes to play, and just make sure that I'm there in the end.

Tiger Woods:
So, I can shoot myself out of the tournament, but just make sure that I keep myself in the event. There's so many different things that can happen on the back nine on Sunday. We all know that, and it played itself out again. There are so many different scenarios that could have happened after 12th. It could have gone so many different ways, and I just keep saying, "Just keep hanging in there until the last couple holes, and we'll see where we are. Just keep hanging in there, and birdieing 15 and 16." It gave me a nice little cush with the last two holes to play, but, still, there's different scenarios that could have happened there as well.

Moderator:
Ignacio.

Ignacio:
Tiger, does this victory change your playing schedule for the year?

Tiger Woods:
Nope. Want me to elaborate? As I said, I'm not going to play as much as I did last year. I played a little bit too much last year because I kept trying to qualify for a World Golf Championships and events in the Playoffs. And so, the playing schedule doesn't change. I'm going to play a bit less than I did last year. And again, just play in the tournaments I do play in. I'll be fully invested and committed to playing and trying to win.

Moderator:
Jeff.

Jeff:
You looked at some of the shots you played today, like the putt from the back of nine or the smart shot to hit it well left of the pin at 12. Do you feel your biggest asset on the grounds here is experience? Or if not, what is?

Tiger Woods:
Well, I think that if — and it helps being around here and playing this golf course so many different times. And, unfortunately, I've hit the ball in some weird spots like nine being one of them. I've been up there before, and I hadn't been that centered to that flag, center of the green. I've been more on the right side of the green, so I had a little better angle. But I've had a very similar putt to that speed-wise. So, I make sure I if I make a mistake on that putt, make the mistake a little bit short upon the middle ridge. Don't make the mistake of hitting too hard and have the gold in front of the green.

Tiger Woods:
I can walk away with the three-putt and still be in the tournament. Who knows, I can make one down from the middle shelf, who knows, but just don't make the mistake long and and make six. I know I have a putt, and I'm putting for birdie, but just don't make six here. And I think it's just the little things of discipline like that is what it takes to win on this golf course.

Tiger Woods:
I mean, you look at Bernie, he's 61, made the cut, and it was on the par. I mean, it goes to show you, if you understand how to play this golf course, you can be pretty much anyone because it's about how to play.

Moderator:
Gentleman in the back, sitting right at the back. Yes, sir, you.

Male:
Tiger, At the players you made the point that Jack's record of 18 majors wasn't one of those bullet points on the poster that you were chasing all your life. Now that you're one closer at 15, is that more of a focus? Is that a bigger goal now?

Tiger Woods:
I really haven't thought about that yet. I'm sure that I'll probably think of it going down the road. Maybe, maybe not. But right now, it's a little soon, and I'm just enjoying 15.

Moderator:
Brian.

Brian:
Tiger, you're talking about shaping shots and everything coming together. You used to rate your game, A, B, B+. Can you rate where your game is right now?

Tiger Woods:
I'm not going to do that, but I will tell you this, that it's the best I've felt with the driver in years. I was able to hit the golf ball both ways this week. And some of the shots I hit down 13, turn it around the corner. A couple of drives down two. Some of the bombs I hit down 3. And then, just hit little squeezers out there down the 7. You saw it today on on 15 and 17, and even on 18, just little trap-squeezers out there as well. So, I was able to hit both ends of the spectrum, low cuts and high draws. And that's not easy to do. So, I just really felt that I had that much control in my long game, and it paid off.

Moderator:
Mike, do you have a question? Next, Jim.

Mike:
Tiger, to be able to do this in front of your kids, I know a lot of people didn't think that you would obviously be here in this spot here on Sunday afternoon. But now to be able to give your children this memory what does that mean to you?

Tiger Woods:
It means the world to me. Their love and their support is — I just can't say enough how much that meant to me and throughout my struggles there when I really had a hard time just moving around. And just their infectiousness of happiness, that's — I was going through a tough time physically, I mean, there was a lot of times when I really could move. And so, that in itself is difficult, but just to have them there. And then, now, to have them see their Pops win, just like my Pops saw me win here. it's pretty special.

Moderator:
Jim.

Jim:
Tiger, how much more of a joyous experience is this? And, also, what does age mean anymore for a professional athlete. We've had a 41-year-old Super Bowl winner, and now you. Does age, has it been expanded and extended, or is it less relevant?

Tiger Woods:
Well, I think it's training and nutrition. Exercise programs have changed. They have progressed. The treatment protocols have changed. And the guys are able to take care of their bodies for longer period time. We know how important it is to eat perfectly and to train and also the recovery tactics that you have to employ, especially as you get older. As we get older, it sucks hopping in those ice baths, but it's just part of the deal.

Tiger Woods:
But I just think that athletes, because of the understanding of the general science of sports performance has allowed athletes to push their primes into much later stages. And then, also, you also have to be lucky too. You just can't have those big major injuries in some of sport, especially contact sports. My sport is different. I can play at a much longer period of time. I don't have to hit the ball 340 yards. I can still plod my way on the golf course.

Tiger Woods:
And so, we saw it here with Jack in '98. He had a chance to win. We saw Tom Watson at '59 had on his putter. So, in this sport, we're able to play a much longer period of time, and you're just seeing guys that are taking care of their bodies a lot better and able to play longer.

Moderator:
Fernando.

Fernando:
Tiger, congratulations-

Tiger Woods:
Thank you.

Fernando:
… on the win. This week was a very special week too for Latin American golf. It was the first time that Latin American Amateur Championship made the cut. So just a few thoughts about the amateur players that were here this week?

Tiger Woods:
Yeah, I just think the game is growing. I mean, before that, I think you had Joaquin playing well. The game of golf is growing. It's, now, a global sport. We're getting players from all over the world. And they're younger, they're better, and they're hungry to play. It's just a matter of them working their way up with opportunities. And so, we're starting to see the game has expanded. It's not just your general golf countries historically, whether it's United States, or the UK, or Australia, or South Africa, or even Japan. Now, it's truly a global sport, and you're seeing kids that are better younger at a much earlier age than you've ever seen before.

Moderator:
Joe. We're done in a bit, Tiger.

Joe:
First, congrats, Tiger. You've had such an influence on the younger golfers. And talking to Brooks outside, not too long ago, he said, "Tiger's back." Do you feel like you're back physically, mentally, and everything that it takes to win at this level?

Tiger Woods:
Yeah, I do, because I just did it. I was able to play some of my best golf over the last, basically, I think the last three days. And the first day was a little bit here and there, but the last three days, I really played well.

Tiger Woods:
I'm going to keep saying this, but there are so many different scenarios that could have happened on that back nine. And I've been in that spot before. I've been in a position where I've won, and I've been in a position where I've lost. But I just kept telling myself that at least I'm in that position. Let's go ahead, and we have a lot of holes to play. And I was able to handle the heat down the stretch and pull off some of my best shots.

Moderator:
Two more questions. Maximo.

Maximo:
This congratulation came from Italy, Tiger. And we are waiting for you if it's okay. We're waiting for you in Italy for three years to go to the Ryder Cup, the historic Ryder Cup in Rome. So, with this kind of shape you are showing, you're planning to come as a player and fight again maybe Francesco Molinari, or as a captain or vice captain? Last time you were in Italy someone, a cameraman, broke your teeth, I think.

Tiger Woods:
Yeah, my tooth, yeah. I had a great smile after that one.

Maximo:
Waiting to see you playing.

Tiger Woods:
Well. I'm a captain this year. So, I'm hoping to make my own team. We'll see what happens when the tournament and the selection process goes to Italy. That's a long way to go. I mean, the points don't even start for a little bit. So, we'll see what happens from now and then.

Moderator:
Final question. Bob.

Bob:
Tiger, you got to play in the final round with one of your teammates from the Ryder Cup, Tony Finau. Tell us a little bit about what you think about his game?

Tiger Woods:
I mean, God, he hits it long. I mean, he makes a little half-swing, and still hits the ball out there 310, 320 in the air. It's just remarkable. And it helps that your ankles is not dislocated either. So, he able to walk around there and hit good shot. But Tony, he's made some amazing leaps in the last couple of years. He's really starting to piece together a game that's going to contend week-in and week-out. I mean, he shows it every now and again but it's getting more consistent. And he's learning what to do and what not to do strategically. And you can see that the mind working out there.

Tiger Woods:
So, it wasn't like he was when he was younger, just go ahead and pound it out there. He's trying to figure out shots and shapes and starting to understand how to play, and it's only going to get better. With that length, it's such an asset, especially in today's game, that he'll win multiple tournaments, and I'm sure the major championships is definitely in his future.

Moderator:
Tiger, could you indulge us and just tell us what the clubs you hit into which green, today, for the record please.

Tiger Woods:
Okay. In each green?

Moderator:
Each one if you could.

Tiger Woods:
I hit 8-iron into 1. I hit a 4-iron into 2. I hit a sand wedge into 3. I hit a 4-iron short of the green on 4. I hit 5-iron to the — sorry, a 4-iron to the right on 5. I had an 8-iron into 6. I hit an 8-iron into 7. I hit a 5-wood over the back at 8, chipped back. Nine, I hit an 8-iron there. 10, I pitched out, and then hit an 8-iron in there, and made bogey. 11, I hit a 7-iron. 12, I hit 9. 13, I hit 8. 14, I hit 9. 15, I had a 5-iron. 16, I hit an 8-iron. 17, I hit an 8-iron. And 18 I hit an 8-iron. How many 8-irons is that?

Moderator:
Tiger, thanks. Your victory today is going to inspire not only children but a lot of adults all around the world. Magnificent achievement. Congratulations. You are a very, very worthy champion, and we're proud that you're wearing that jacket for the fifth time today.

Tiger Woods:
Yeah, I'm excited about show-and-tell at school.

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Chris Cody:
There's still a lot of mismanagement, poor spending habits from even companies that are incredibly well-funded. There's the company you've probably heard of. They're fairly large. And, right now, the owners, the two primaries are being sued by several of their investors for, basically, what amounts to misappropriation of funds, where they have total control over their books, they have raised hundreds of millions of dollars, and simply spend it as they will beyond their acquisitions and licensing that they have done. There's that. So, I mean, it's really all over the board. And they told them, like, "You guys are going to waste a million dollars. You're going to have this whole crop fail," and they tell them, "Well, we'll just spend another million."

Dani Hao:
Hi, I'm Dani.

Nicole:
And I'm Nicole. Welcome to the Spend Culture Stories Podcast where we explore the connection between company spending and culture. Join us as we dive deep into understanding the people, processes, and tools that makeup spend as a whole or what we call spend culture.

Dani Hao:
Hi, everybody. And welcome to another episode of Spend Culture Stories. And today, we have two special guests here today. One, we have Carlo and he is a cannabis technology consultant from Vancouver, BC.

Carlo Alvarez:
Hey, everybody. Hey, Spend Management Podcast.

Dani Hao:
And we also have Chris Cody, the CEO of Highly Functioning.

Chris Cody:
Hello, everybody.

Dani Hao:
Hey, Chris. And we're so excited to have you here today, just because I know we running a special segment on cannabis. So, we're really excited to hear from you on what the space is like right now, how is it like managing the finances of the cannabis business. And, also, what you have learned throughout the years.

Chris Cody:
Yeah. It's been a very interesting experience just from start to finish, I have to say, with so many different regulatory and tax implications for all this stuff.

Nicole:
Maybe you can tell us a little bit more about yourself and your previous roles because we looked at your LinkedIn a little bit, and we noticed that you open your own dispensary called Urban Legends. Can you give us a little bit of that experience and tell us a little bit more about your role there?

Chris Cody:
Yeah. So, in 2011, I founded a company called Urban Legends. It's a medical marijuana dispensary in Washington State, just south of Seattle. And it's very, very interesting. I mean, very wild west. Basically, what you needed then was at least a small little nest egg. I think between me, and my partner, and my wife, we had about 20 grand. And it was really just about finding a landlord who would rent to you. It was kind of a gray market and very challenging just to find that part.

Chris Cody:
And so, I'd spent a few months looking around. And, finally, had found a location that I could set up in. There's real basic stuff. The state here was going to be passing rules. And then, they didn't. And so, that became this very confusing situation where there was going to be a state regulation, and then there was not.

Chris Cody:
And so, from that, I became very involved in the political process. I helped form an industry organization here called the Coalition for Cannabis Standards and Ethics. The City of Seattle had come to a bunch of us, operators, who they had allowed to open thinking that this regulatory environment was going to exist. And then, they said, "Well, can you guys put together some self-policing rules, some standards that you will adhere to, so that we, at least, have some good actors to point at?"

Chris Cody:
And so, that's what we did. We spent about a year putting that together. And the whole time, each one of us, small business owner, running our own businesses. But activism was foisted upon some of us. Some of the operators were also activists. And, yeah, we, kind of, ground that out in a very unregulated environment. Within about a year of me opening my store, there were 10 stores within three blocks, very intense competition, very much a race to the bottom for the pricing.

Chris Cody:
One of those businesses was what they call a farmer's market. So, it would be 30 odd tables set up from producers who would just grow in their basements, or garages, or maybe drive it up from Oregon or California, and just sell it right there out of that store.

Chris Cody:
Anyway, so, a lot of competition, very interesting. And then we had legalization comp, which opened up a whole new raft of problems. So, here in Washington, they did a lottery that myself and my partner entered. And we won a few of those licenses. And then, we realized, how are we going to raise money? There are rules about where you could place the stores. There is limited availability for real estate because of the buffers and requirements of distancing from schools and whatnot. And especially in the City of Seattle, there are dozens of schools, and then also preschools, and daycares, and libraries, and all these things that you couldn't be near.

Chris Cody:
And so, the difficulty was trying to simply find a location. And then, once you found a location, how do you secure the lease or maybe even purchase? And a lot of business owners, in the same position, everybody had different solutions. Maybe you had a wealthy uncle, or you had done pretty well in medical, and you had a pretty significant bankroll. Literally, cash in most cases. But just being able to get a shop up and running was very difficult.

Chris Cody:
Some people lucked out. Their location's already buffered, and they had a good relationship with their landlord. For us, we had to try to cut a deal with a group that had secured a lease, and they were going to build out the shop, and provide the funding. And that did not go well. We ended up, essentially, losing that business. They had to pay us out after a year and a half of disagreements as to how it was all going to go.

Chris Cody:
And that's very common in this business. I can't tell you how many companies have folded or had significant troubles because of partnership, arguments, disagreements, much of it around the finances. Partly, a lot of that experience, along with my lobbying efforts, we were able to get a path to licensure again. And that's when I was able to open Urban Legends downtown in Seattle, which is still a going concern. I sold out of that a year or so ago.

Chris Cody:
And since then, I've been focused on the national legalization. At least, to state by state, following, tracking, and then also taking on clients, mostly in the retail realm, people trying to set up shops in the most efficient way possible. When I was talking about those financial difficulties, especially the taxes, many people just coming into the industry don't really understand what the IRS tax code 280E is and what it means for your bottom line. So, that's been a real challenge.

Chris Cody:
So, parlay that into consulting, and I've been up and down the coast, down to California quite a bit, helping people do mergers and acquisitions. I, also, go through licensing applications, just setting up their — doing their layouts and helping them with their SOPs, so they can be ready to go when opening day comes and be able to actually get to opening day, which is pretty difficult.

Carlo Alvarez:
That's actually really interesting that you mentioned that. I guess, in terms of the people that call you looking for help, in terms of like when it comes to finance, what are their biggest concerns?

Chris Cody:
Well, I'll tell you, most of them don't actually consider the finance. In my experience, you've got two basic kinds of entrepreneurs in the space. The first kind is rapidly disappearing, and that's the mom-and-pop shops. They're also called maybe heritage stores or legacy brands. These are the guys who've been in business in California since the early 2000s and in Washington since like the late 2000s.

Chris Cody:
A lot of them came up in the black market, gray market. The financing portion, the finances, I would say there's a strong strain of economic ignorance. People don't necessarily understand cash flow. They don't understand budgeting, you know, very basic things. They haven't really needed to use them for a very long time. Lots of issues there.

Dani Hao:
So, I just wanted to do like a follow-up question to Carlo's point. So, I know what the situation of the gray market at that time when you opened your own dispensary. And, now, with legalization coming into the States, I'm just wondering, how do you think business owners are now currently managing their books?

Chris Cody:
So, the other kind is not the mom and pops, it's the corporate guys coming in now. Most of it is private equity. And in a lot of cases, what I've seen is the people bringing in the money act as the CFOs. And if it's a big enough fund — like there's different sizes, right? There's some groups that are just trying to set up like one large grower, which is pretty significant in and of itself. There's other groups that are setting up chains of growers or chains of stores. And for those folks, a lot of them come from finance in some way. A lot of it is real estate money.

Chris Cody:
In terms of regular processes, yeah, they do have that. They do have, you know, budgets, and forecasting, and all of that. What I've seen though is there's still a lot of, I would say, mismanagement, poor spending habits from even companies that are incredibly well-funded.

Chris Cody:
There's the company, MedMen, which you've probably heard of. They're fairly large. And right now, the owners, the two primaries are being sued by several of their investors for, basically, what amounts to misappropriation of funds where they have total control over their books. They have raised hundreds of millions of dollars and simply spent it as they will beyond their acquisitions and licensing that they have done.

Chris Cody:
There's that. So, I mean, it's really all over the board. There are some companies that are very well-run. Some mom-and-pop shops who understood finance, and budgeting, and all that upfront, then they have been able to — as long as their business itself is strong, their location is good, and everything else, they've been able to parlay that into significant funds and are now able to find pretty decent rates on hard money from private equity.

Chris Cody:
And the other side of it is guys who does larger conglomerates that know how to raise money, but maybe aren't so much versed in actually running the businesses. And so, those companies are able to actually have a large footprint, but they're not run very efficiently. They have a lot of issues with their budgeting, with their spending, not really understanding where to put their marketing dollars. not really understanding how much they need to set aside for their tax burden.

Dani Hao:
Maybe you can give the audience a little bit clarification on the differences because I know some of our viewers are in the States. So, definitely around that kind of legal regulations, there is definitely a lot of difference there.

Chris Cody:
Yeah, okay. In the United States, there's a special tax code called the 280E, which was written in the '80s mostly to kind of go after coke dealers, people running cocaine from Colombia. And it goes back to an old United States tax law, which is that you pay taxes on what you earn, not what you do. So, it doesn't matter if it's legal or illegal, you're still liable for your taxes, right?

Chris Cody:
Anyway, what 280E does is it means that you cannot write off basic expenses. Like you can write off your cost of goods sold, right? But you can't write off your employees. You cannot write off your rent. You can be somewhat creative if your processes allow to roll some of that expense into your cost of goods. But anything that's considered trafficking by the IRS is nondeductible, which means that whatever your payroll is, whatever your rent is, you have to add that to your income, and you have to set aside cash for that base as it is income, which means that your end tax burden ends up being higher than it would be significantly.

Carlo Alvarez:
That was a really great explanation. Thank you for that. So, I guess, in terms of your company, Highly Functioning, so you manage growers, brands, retail outlets, real estate. What kind of tools do you think make a responsible company, cannabis company, need in order to survive?

Chris Cody:
Well, certainly, tax planning is a big one and having a very good standard operating procedure manual. Having those positions defined, making sure that people operate within their roles, making sure that you can back up your explanations in an audit to be able to tie things into your cost of goods sold that are directly related.

Chris Cody:
It's very important. It's happening now in California where a lot of companies, they've been licensed legal for a year. And, now, they've all got traceability software. Now, they're tracking everything. And now, they're not able to push stuff under the rug. It's all trash.

Chris Cody:
So, they're starting to look at their, now, tax burdens and they're significant. If a store does, like, say, a store is about $5 million annual growth, you are looking at maybe a million-dollar tax burden. Pretty significant. It's still nearly 20%. And then, once you add in all your other expenses, I mean, most of the properties that are involved in these transactions, especially for a decently cited retail location, they definitely get a premium. If you bought it, if you were able to purchase it, you have those holding costs. If you weren't able to purchase it, and you're paying extremely high lease, same problem. You can't write that off.

Chris Cody:
So, being responsible, yeah. I mean, you just have to be very, very organized. You have to have a good team that understands all of these things. They understand compliance because it's less of a marijuana or cannabis-selling business, it's more of a government-compliant business. That's what I tell everybody whenever I go in the shop. I'd say like, "We're in government compliance these days. We have to maintain seed-to-sale traceability. You can't endanger the license. You can't endanger our ability to operate." And so, that needs to be priority one, right next to generating as much revenue as we can.

Carlo Alvarez:
That's actually really interesting that you talked about compliance. I've actually been in contact with a few retail shops. In terms of the state-regulated compliance software, what are some of the gaps that you find is missing when it comes to managing their spending?

Chris Cody:
Well, number one, none of the systems I've used are — they're compliance systems. They're not for managing you're spending. The most they do is you can place orders through vendors, have them come in. The whole point is to make sure that all of that stuff is counted when it arrives, tracked and traced, paid. Outside of Washington, a lot of it's done in cash. Washington has banking, but most of the country does not. Although, that's hopefully changing. There's a bill right now in the US Congress that could allow for cannabis banking to be legalized finally.

Chris Cody:
But like I said, the compliance software, its whole job is to just be compliant. You can do histories. You can get your spreadsheets downloaded. They're supposed to integrate with QuickBooks. Most of the systems that I use don't. We have to print out our spreadsheets. And then, in a lot of cases, input that data into QuickBooks manually to be able to manage, and generate forecasts, and everything.

Carlo Alvarez:
In terms of the systems that you use in the past, can you describe what systems you have used that are for compliance and that don't really do the job that you're saying?

Chris Cody:
Well, there's about a hundred different solutions right now. BioTrack, Metrc, Leaf. Then, there's Green Bits, Corona, IndicaOnline. Those are the ones we're most familiar with. There's easily another 50. There's lots of tech guys who want to try to, like, solve problems.

Chris Cody:
In my experience, what they've kind of done is — I mean, especially the earlier systems, a lot of the more scab down. Oh, yeah. Like MMJMenu, MJ Freeway, those were products that were meant for a different business, and that were repurposed for cannabis. And those never really worked well for me in terms of, like, really being able to see a solid snapshot of your inventory, keeping things like very square.

Chris Cody:
I mean, it's been difficult. Like generally speaking, you've got a bookkeeper and then a CPA. And then, you're going over the numbers pretty regularly with both of them to make sure everything's coherent and that you're hitting your budgets.

Dani Hao:
Totally. And speaking of hitting your budgets, I'm just wondering, what are some misconceptions when it comes to CFOs and compliance when it comes to financial controls? Because you mentioned a lot of these businesses nowadays, you have like the big corporations, and you have the mom and pops. So, what the financial controls, like, obviously, if it's a bigger corporation, usually, you have a finance team there to, kind of, enforce policies and procedures. But with the like smaller shops that are trying to scale up their processes, what are some things that they lack?

Chris Cody:
Discipline. The mom and pops have a real problem, and that, like, a lot of them actually have, like, a mom and pop and your family around. I've seen it where, like, guys, the owner's dad come in, just pull cash out of the till, give stuff away for free to customers, that kind of stuff. When I try to tell the guy like, you know, "Get your dad out of here, man. He just [??]," he doesn't want to get rid of him. He trusts him. He doesn't mind that he takes some money from the till every now and then. So, okay, that was a difficult conversation to have, and it didn't really go well for me.

Chris Cody:
But that's not just the mom and pops. You know, the other thing I've seen is that a lot of these bigger companies that are managed to raise all this money, they just — amendment notwithstanding, a lot of them have real budgetary issues where they don't have real control. There's usually a group of owners at the top, people who hold equity and are signers of the bank accounts, and they will spend.

Chris Cody:
Some of them, they're making plenty of cash. And some of them have just raised plenty of cash. And you understand the difference there. It's just weird when you go into an office and set of offices that are very nice. You're looking around, and you're trying to figure out what the company actually does. You see like some kind of famous artist piece on the wall, hazard to say a Picasso or something. You're like, "Well, what do you guys actually do?"

Chris Cody:
And it's difficult. You know, especially, like I am very deep in the industry. So, I kind of hear about, you know, like, "What's up with these guys? What are they doing?" I'll dig down to it, and I'll find out like, "Oh, yeah. No, they had a huge grow, and it failed this last year. And, now, they're doing something else. I don't know. But they managed to raise enough capital that they can sit that out."

Chris Cody:
A friend of mine was doing consulting for a large grower here in Washington. And he was going through their facility, and they did not have a good SOP. In fact, it was terrible. They were tracking powdery mildew and mites from room to room without any kind of clean processes to mitigate that.

Dani Hao:
Oh, wow.

Chris Cody:
And he told them, like, "You guys are going to waste a million dollars. You're going to have this whole crop fail." And they told him, "Well, we'll just spend another million…"

Dani Hao:
Oh my goodness.

Carlo Alvarez:
Wow.

Chris Cody:
"… and get it right." Yeah. There's a whole lot of that, especially at these bigger groups. You know, once you've raised $100 million, especially if you've never had that much money, it's pretty significant. And you, kind of, just stop counting.

Dani Hao:
Yeah. So, that's really surprising to us because you would think that with all these VC-backed resources, they would be able to have more of like, I guess, robust way of tracking these finances. And, you know, you mentioned that cannabis is a heavily audited and a compliant industry. So, how are you able to get away with things like that?

Chris Cody:
Well, when you say auditing, you're talking about money?

Dani Hao:
Yeah.

Chris Cody:
The government says auditing, they're talking about inventory. They're not linked. I mean, not in a practical way here, right? The government doesn't care, like, if you blow every penny you've got, but you better not lose a pot because that's a violation.

Dani Hao:
Gotcha.

Chris Cody:
That's the biggest difference. And like I said, not every company is like this. There's plenty that are responsibly run and are doing very well, but it's just running the gamut. And another thing I would hazard to say is like some of these big idea guys, these VCs, they get maybe carried away, get sucked into the free style of the industry, in general, and kind of lose focus, or, you know, there's other companies where they've got the budget to lose money for a decade, and they're just comfortable with it already. And I've seen that as well.

Carlo Alvarez:
That's really interesting on how the difference with the auditing and what the government actually looks for. I guess in terms of the supply chain and procurement, seem to be big pain points based on some business owners we've spoken to. How does having a compliance software work with a procurement department in cannabis?

Chris Cody:
Well, I mean, it's pretty straightforward. The procurement department really needs like a budget from the CPA or bookkeeper, right. And that just tells them, like, you've got some rough projections, so you know about what you're going to do for that month. And so, you get a budget for your buying, for like a retailer anyway. And most of my perspective here is from the retail side, by the way. Growers is a little bit different.

Chris Cody:
So, yeah. So, the procurement department, the buyer, right, there's usually, like, every store or group of stores has a single buyer. And that buyer goes out to farms, and discusses terms, and places orders. The responsible or the best ones that, you know, they don't wait for the salesman to come around and provide samples. They'll go, and go to the farms, and see how the product's being grown to find out if it's going to be a good product for their store, something that will have a good consumer response and encourage repeat clientèle.

Chris Cody:
You know, the software itself, I mean, it's straightforward. The hard parts with it are there's gaps, there's data ghost from time to time, especially the point of sale system's not generally the same. Like they're integrated with the state track and trace systems, but they're not the same systems. So, sometimes, one loses products or mislabels products, which can cause a lot of lost time and tracking that down on an inventory audit. You know, there's all sorts of barcode errors. There's also just basic employers where you've got an employee ringing up a barcode that's a different lot but the same product.

Chris Cody:
So, if you've got one strain, say, Blue Dream, right, so many growers grow Blue Dream because it's a great producer. But then, the state has rules on, like, how large a lot can be, right. So, it's five pounds of Blue Dream is a single lot, right. But if you have a giant grow, you have maybe a hundred lots. I don't know, maybe 20 lots. Each one of those lots ends up with a different barcode, but they're the same product.

Chris Cody:
So, at the end user, when your bud tender's bringing up a customer, they've got something in the display that's just displayed for the customers to see. And they'll pull that out, they ring it up, it goes into the system. The system's tracking a different barcode now. And then, you're pulling the old barcode or the new barcode out of your inventory to actually make the sale. That can lead to — especially if that happens a few times a day over the course of the month, it can be a lot of time to track all that down and figure out like wherever they went and just making those corrections in the system.

Carlo Alvarez:
What kind of tools do you recommend to your clients when it comes to managing and tracking spend, as well as are there any features that you wish the industry offered?

Chris Cody:
Yeah, I mean, generally speaking, like the tools you need are just good forecasting, a good bookkeeper, a good CPA. And just good forecasting as you can get, so you can really optimize your bottom line. What I really wish is that — and like I said, I could be wrong right now. I hope I'm not. But having an actual point of sale system that is integrated with QuickBooks, so you can simply, like, run all the numbers directly into QuickBooks and not have to pay somebody to input them all and try to sort them out. That would be a super handy tool.

Dani Hao:
Yeah. When you mentioned QuickBooks, you think a majority of the industry that's kind of like a standard accounting solution that everybody uses.

Chris Cody:
A lot of them do. There's maybe some private accounting software used by the CPAs to represent these companies that they use. Maybe internally-specific things like they wrote it for themselves, if they're big enough. But anybody who's got their in-house bookkeeper, they're generally using QuickBooks-like product.

Dani Hao:
And do you think as cannabis companies scale, do they usually look for a CFO, or do you think they're usually okay with just hiring CPAs and bookkeepers to make sure that their books are clean?

Chris Cody:
It really depends on the scale. If you're talking retail, it's like five shops or less. If you're talking growers, it's like maybe one large grow, and you've just got like your internal team. But once you start jumping into different states, then people are looking for a CFO at that point because it's just too much to manage. You need somebody on board. And like I said, a lot of the CFOs that are currently doing it, they're finance guys who helped raise the money or even brought the money. A lot of them may end up just delegating it to somebody on their team already.

Dani Hao:
Awesome. I guess the one last thing is, like, what would you recommend to cannabis business owners to be more aware of its fan culture, from someone who has been in the cannabis industry for many years?

Chris Cody:
What I would say is don't spend your money, man. Live like you're making slightly better than minimum wage if you can. And just write it out because — especially in the states with the tax code, like I said, when you could end up owing for years. If you don't save that million dollars, or $600,000, or whatever it is that you have to, like, pay the IRS, and then you don't have it, and you've got to set up a payment plan, and then your next year's taxes come due, and you still don't have that saved. And now, you're just stuck in taxes on taxes and taxes, and you're never going to get out of it.

Dani Hao:
Wow. Yeah that would be a nightmare.

Chris Cody:
Yeah, literally. There's several companies I know doing that. Like they're in that position now, or they're literally in receivership because of it. So, it's something you just gotta keep your mind in. That should change as soon as it becomes legal here in the States, but I got to think, that same advice is applicable to Canada because you guys just generally have a higher tax rate anyway. And I know Canadians are not unfamiliar with detailed tax planning.

Dani Hao:
Yeah.

Chris Cody:
You know.

Dani Hao:
Well, awesome. Thank you so much Chris for joining us today and sharing your expertise with us.

Chris Cody:
Thank you. I really appreciate you having me on.

Carlo Alvarez:
This was an awesome conversation, and I learned a lot from you. So, thank you so much for coming here.

Chris Cody:
Yeah. Well, thanks, Carlo.

Dani Hao:
Thanks for tuning into this week's Spend Culture Stories Podcast, sponsored by the Procurify. If you'd like to learn more about your Spend Culture, take our quiz at spendculture.com.

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Popular Transcripts FULL TRANSCRIPT: Gwyneth Paltrow interviewed in Spanish

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Gwyneth Paltrow Spanish Interview (transcribed by Sonix)

Entrevistadora: Estoy con Gwyneth Paltrow. Una gran actriz, ganadora de un Oscar, de un Globo de Oro. Cualquier premio, esta mujer lo tiene.

Entrevistadora: ¡Qué rico estar contigo! ¡Qué elegancia!

Gwyneth Paltrow: Gracias.

Entrevistadora: Y es impresionante escucharte hablar español. Hablame, ¿dónde lo aprendiste, y por qué te entusiasmó aprender español?

Gwyneth Paltrow: Bueno, cuando tenía 15 años, yo estaba estudiando español en el colegio Nueva York, que la profesora nos había dicho. Bueno, hay una oportunidad para ir a España, a estudiar ahí. Entonces, yo hacía un intercambio y vivía con una familia en el centro de España, cerca de Toledo.

Entrevistadora: ¡Precioso!

Gwyneth Paltrow: Y me encantó. Y fue como una temporada en mi vida muy importante. Me encanta españa, la cultura latina; siempre me voy a México por ejemplo.

Entrevistadora: Ah, que gusto.

Gwyneth Paltrow: Me gusta mucho la cultura, la lengua, la gente.

Entrevistadora: Así que lo aprendiste en la escuela, con la gente. ¿Ningún amigo en especial, amiga?

Gwyneth Paltrow: Yo tengo una amiga en Londres que es de Mallorca, se llama Rosario y con ella hablo, practicábamos. Bueno, yo practico con ella y también tenemos una niñera de España en casa. Porque para que mis niños pueden aprender también. Entonces, siempre estamos hablando en español y yo creo que es muy importante.

Gwyneth Paltrow: Yo tengo una amiga que hablaba como cinco lenguas, algo así, y ella me decía una lengua, una vida. Y yo creo que es verdad, cuando puedes hablar más de un idioma, puedes entender muchísimo más. Y yo creo que es una experiencia profunda para hablar más de un idioma.

Entrevistadora: ¡Qué bien por ti! Y nos ayuda mucho a nosotros.

Entrevistadora: La película Robert Downey Jr., la conexión entre ustedes impresionante, la química espectacular y lograste domar a un mujeriego. ¿Cómo le hiciste?

Gwyneth Paltrow: Bueno, siempre me encanta trabajar con Robert, el es supergracioso y la verdad es que es un tipo de genio. Siempre está pensando una manera muy no sé, muy inteligente, original.

Gwyneth Paltrow: Y para trabajar con él siempre me siento muy contenta, y él está siempre muy animado, y se pone todo su cuerpo en lo que está haciendo. Y en este, en el tercero, nuestra relación está aun más interesante.

Gwyneth Paltrow: También, yo me pongo su traje de Iron Man.

Entrevistadora: ¿Cómo fué eso?, lo que te iba a preguntar, ¿cómo es vestir y usar el traje de Iron Man?

Gwyneth Paltrow: Eso fue muy divertido. Y también mi niño estaba en el set, cuando estaba con el disfraz; y su cara, nunca lo olvido. Él estaba superorgulloso de su mamá. Y no estaba muy incómoda, ni nada, estaba bien.

Entrevistadora: Quizas tendremos a la Iron Man, Iron Lady.

Gwyneth Paltrow: Sí, exacto. Me encantaría.

Entrevistadora: Sería espectacular.

Entrevistadora: Sé que acabas de escribir tu libro en cocina. Cuentame, ¿qué te inspiró a cambiar tus hábitos de alimentación?, porque sé que un amigo especial que tuviste, te cambio toda tu alimentación. Cuentanos sobre eso.

Gwyneth Paltrow: Bueno, mi marido y mi hijo tienen alergias al gluten, a trigo, a leche de vaca. Entonces, yo soy la cocinera en la casa y no quería que mi niño estuviera comiendo; sabes, comida muy sana, sin sabor. Entonces, empezaba a hacer recetas con mucho sabor y como comfort food como: albóndigas, pero sin pan, sin huevo, sin queso y cosas muy ricas.

Gwyneth Paltrow: Entonces, eso fue.

Entrevistadora: Como te cambio e inspiro.

Gwyneth Paltrow:

Entrevistadora: Muchísimas gracias Gwyneth.

Gwyneth Paltrow: A ti.

Entrevistadora: Es un placer hablar contigo. Y tú no te pierdas Iron Man 3 que a lo mejor es posible que veamos también a Gwyneth como Iron Lady.

Entrevistadora: Gracias linda.

Gwyneth Paltrow: A ti.

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Popular Transcripts FULL TRANSCRIPT: “Obama out” President Barack Obama’s hilarious final White House correspondents’ dinner speech

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FULL TRANSCRIPT: "Obama out" President Barack Obama's hilarious final White House correspondents' dinner speech (transcribed by Sonix)

Pres. Barack Obama: You can't say it, but you know it's true.

Pres. Barack Obama: Good evening, everybody.

Audience: Good evening.

Pres. Barack Obama: It is an honor to be here at my last and, perhaps, the last White House Correspondents Dinner. You all look great. The end of the Republic has never looked better.

Pres. Barack Obama: I do apologize. I know I was a little late tonight. I was running on CPT, which stands for jokes that white people should not make. That's a tip for you, Jeff.

Pres. Barack Obama: Anyway, here we are, my eighth and final appearance at this unique event. And I am excited. If this material works well, I'm gonna use it at Goldman Sachs next year. Earn me some serious Tubmans. That's right. That's right.

Pres. Barack Obama: My brilliant and beautiful wife, Michelle, is here tonight. She looked so happy to be here. That's called practice. It's like learning to do three-minute planks, and she makes it look easy now, but, next year, this time, someone else will be standing here in this very spot, and it's anyone's guess who she will be. But standing here, I can't help but be reflective and a little sentimental.

Pres. Barack Obama: Eight years ago, I said it was time to change the tone of our politics. In hindsight, I clearly should have been more specific. Eight years ago, I was a young man, full of idealism and vigor. And look at me now, I am gray, grizzled, just counting down the days till my death panel.

Pres. Barack Obama: Hillary once questioned whether I'd be ready for a 3:00 a.m. phone call. Now, I'm awake anyway because I got to go the bathroom. I'm up. In fact, somebody recently said to me, "Mr. President, you are so yesterday. Justin Trudeau has completely replaced you. He is so handsome. He's so charming. He's the future." And I said, "Justin, just give it a rest." I resented that.

Pres. Barack Obama: But, meanwhile, Michelle has not aged today. The only way you can date her in photos is by looking at me. Take a look. Here we are in 2008. Here we are a few years later. And this one is from two weeks ago. So, time passes.

Pres. Barack Obama: In just six short months, I will be officially a lame duck, which means Congress, now, will flat out reject my authority, and Republican leaders won't take my phone calls. And this is gonna take some getting used to. It's really going to … It's a curve ball. I don't know what to do with it.

Pres. Barack Obama: Of course, in fact, four months now, congressional Republicans have been saying there are things I cannot do in my final year. Unfortunately, this dinner was not one of them. But on everything else, it's another story. And you know who you are, Republicans. In fact, I think we've got Republican Senators Tim Scott and Cory Gardner. They're in the House, which reminds me, security, bar the doors. Judge Merrick Garland, come on out. We're gonna do this right here, right now. It's like the red wedding.

Pres. Barack Obama: But it's not just Congress. Even some foreign leaders, they've been looking ahead, anticipating my departure. Last week, Prince George showed up to our meeting in his bathrobe. That was a slap in the face. A clear breach of protocol.

Pres. Barack Obama: Although, while in England, I did have lunch with Her Majesty, the Queen, took in a performance of Shakespeare, hit the links with David Cameron. Just in case anybody is still debating whether I'm black enough, I think that settles the debate.

Pres. Barack Obama: I won't like, but, look, this is a tough transition. It's hard. Key staff are now starting to leave the White House. Even reporters have left me. Savannah Guthrie, she's left the White House press corps to host The Today Show. Norah O'Donnell left the briefing room to host CBS This Morning. Jake Tapper left journalism to join CNN.

Audience: But the prospect of leaving the White House is a mixed bag. You might have heard that someone jumped the White House fence last week, but I have to give Secret Service credit. They found Michelle, brought her back. She's safe. She's safe back at home now. It's only nine more months, baby. Settle down.

Pres. Barack Obama: And yet somehow, despite all this, despite the churn, in my final year, my approval ratings keep going up. The last time I was this high, I was trying to decide on my major. And here's the thing, I haven't really done anything differently. So, it's odd. Even my aides can't explain the rising poll numbers. What has changed? Nobody can figure it out. Puzzling.

Pres. Barack Obama: Anyway, in this last year, I do have more appreciation for those who've been with me on this amazing ride. Like one of our finest public servants, Joe Biden. God bless him. I love that guy. I love Joe Biden, I really do. And I want to thank him for his friendship, for his counsel, for always giving it to me straight, for not shooting anybody in the face. Thank you, Joe.

Pres. Barack Obama: Also, I would be remiss. Let's give it up for our host, Larry Wilmore. Also known as one of the two black guys who's not Jon Stewart. You're the South African guy, right? I love Larry. And his parents are here who are from Evanston, which is a great town.

Pres. Barack Obama: I also would like to acknowledge some of the award-winning reporters that we have with us here tonight: Rachel McAdams, Mark Ruffalo, Liev Schreiber. Thank you all for everything that you've done. I'm just joking. As you know, Spotlight is a film, a movie about investigative journalists with the resources and the autonomy to chase down the truth and hold the powerful accountable. Best fantasy films and Star Wars.

Pres. Barack Obama: Look, that was maybe a cheap shot. I understand the news business is tough these days. It keeps changing all the time. Every year at this dinner, somebody makes a joke about BuzzFeed, for example, changing the media landscape. And every year, The Washington Post laughs a little bit less hard. Just kind of a silence there, especially at the Washington Post table.

Pres. Barack Obama: GOP Chairman Reince Priebus is here as well. Glad to see that you feel that you've earned a night off. Congratulations on all your success, the Republican party, the nomination process. It's all going great. Keep it up.

Pres. Barack Obama: Kendall Jenner is also here. And we had a chance to meet her backstage. She seems like a very nice, young woman. I'm not exactly sure what she does, but I am told that my Twitter mentions are about to go through the roof.

Pres. Barack Obama: Helen Mirren is here tonight. I don't even have a joke here. I just think Helen Mirren is awesome. She's awesome. Sitting at the same table, I see Mike Bloomberg. Mike, a combative, controversial New York billionaire is leading the GOP primary, and it is not you. That has to sting a little bit. Although it's not an entirely fair comparison between you and the Donald. After all, Mike was a big city mayor. He knows policy in depth. And he's actually worth the amount of money that he says he is.

Pres. Barack Obama: What an election season. For example, we've got the bright new face of the Democratic Party here tonight, Mr. Bernie Sanders. Bernie, you look like a million bucks. Or to put in terms you'll understand, you look like 37,000 donations of $27 each. A lot of folks have been surprised by the Bernie phenomena, especially his appeal to young people. But not me. I get it.

Pres. Barack Obama: Just recently, a young person came up to me and said she was sick of politicians standing in the way of her dreams. As if we were actually going to let Malia go to Burning Man this year. It was not going to happen. Bernie might have let her go. Not us. I am hurt, though, Bernie, that you've been distancing yourself a little from me. I mean, that's just not something that you do to your comrade.

Pres. Barack Obama: Bernie's slogan has helped his campaign catch fire among young people, "Feel the Bern. Feel the Bern." That's a good slogan. Hillary's slogan has not had the same effect. Let's see this. Look, I've said how much I admire Hillary's toughness, her smarts, her policy chops, her experience. You've got admit it though, Hillary trying to appeal to young voters is little bit like your relative who just signed up for Facebook, "Dear America. Did you get my poke? Isn't appearing on your wall? I'm not sure I'm using this right. Love, Aunt Hillary." It's not entirely persuasive.

Pres. Barack Obama: Meanwhile, on the Republican side, things are a little more – how shall we say this – a little more loose. Just look at the confusion over the invitations to tonight's dinner. Guests were asked to check whether they wanted steak or fish. But, instead, a whole bunch of you wrote in Paul Ryan. That's not an option, people. Steak or fish? You may not like steak or fish, but that's your choice.

Pres. Barack Obama: Meanwhile, some candidates aren't polling high enough to qualify for their own joke tonight. The rules were well established ahead of time. And then, there's Ted Cruz. Ted had a tough week. He went to Indiana, Hoosier country, stood on a basketball court, and called the hoop a basketball ring. What else is in his lexicon? Baseball sticks. Football hats. But sure, I'm the foreign one.

Pres. Barack Obama: Well, let me conclude tonight on a more serious note. I want to thank the Washington press corps. I want to thank Carol for all that you do. The free press is central to our democracy and, no, I'm just kidding. You know, I'm gonna talk about Trump. Come on. We weren't just gonna stop there. Come on.

Pres. Barack Obama: Although I am a little hurt that he's not here tonight. We had so much fun the last time. And it is surprising. You've got a roomful of reporters, celebrities, cameras, and he says no. Is this dinner too tacky for the Donald? What could he possibly be doing instead? Is he at home, eating a Trump steak, tweeting out insults to Angela Merkel? What's he doing?

Pres. Barack Obama: The Republican establishment is incredulous that he's their most likely nominee. Incredulous. Shocking. They say Donald lacks the foreign policy experience to be president. But in fairness, he has spent years meeting with leaders from around the world: Miss Sweden, Miss Argentina. Miss Azerbaijan.

Pres. Barack Obama: And there's one area where Donald's experience could be invaluable, and that's closing Guantanamo because Trump knows a thing or two about running waterfront properties into the ground. All right, that's probably enough. I mean, I've got more material. No, no, no.

Pres. Barack Obama: I don't want to spend too much time on the Donald. Following your lead, I want to show some restraint because I think we can all agree that from the start, he's gotten the appropriate amount of coverage befitting the seriousness of his candidacy. I hope you all are proud of yourselves. The guy wanted to give this hotel business a boost. And, now we're praying that Cleveland makes it through July.

Pres. Barack Obama: As for me and Michelle, we've decided to stay in DC for a couple more years. Thank you. This way, our youngest daughter can finish up high school. Michelle can stay closer to a plot of carrots. She's already making plans to see them every day. Take a look.

Pres. Barack Obama: But our decision has actually presented a bit of a dilemma because, traditionally, presidents don't stick around after they're done. And it's something that I've been brooding about a little bit. Take a look.

Kristen Welker: The Obamas are staying in DC for two years after the president leaves office.

Chuck Todd: He's about to go from Commander-in-Chief to couch Commander.

Pres. Barack Obama: Boo, Chuck Todd. What am I going to do in DC for two years?

Joe Biden: It sounds like a dilemma, Mr. President.

Pres. Barack Obama: I can't golf every day, can't I?

Joe Biden: Which do you like better, this or this?

Pres. Barack Obama: Joe, they're the same.

Joe Biden: They capture different moods.

Pres. Barack Obama: Joe, I need some focus here.

Joe Biden: [Indecipherable].

Pres. Barack Obama: I'm sorry. What's that?

Joe Biden: I said, Mr. President, that you had to be practical. Look, you can drive again. You're going to need a license. You love sports. Why don't you volunteer to work for one of the teams around here?

Kristen Welker: Is this the Washington Wizards? I understand you're looking for some coaching help. Let's just say I coach my daughter's team a few times. Hello. Hello.

Female Voice: Ready for him.

Pres. Barack Obama: So, I'm going to be in DC for a while. And I thought I'd take up driving again.

Female Voice: What's the name?

Pres. Barack Obama: Barack Hussein Obama.

Female Voice: Yikes. Well, since you don't have a driver's license, you're gonna need a birth certificate.

Pres. Barack Obama: Really?

Female Voice: Really.

Pres. Barack Obama: It's real.

Chuck Todd: Is it?

Pres. Barack Obama: It's real.

Female Voice: But is it?

Pres. Barack Obama: Michelle left her phone. Let's see here She's got Snapchat. Obamacare is great, and it's really working. Sign up now.

Male Voice: Breaking news.

Male Voice: Michelle Obama in hot water after posting this video earlier today.

Pres. Barack Obama: Obamacare is great, and i really working. Sign up now.

Pres. Barack Obama: No?

Michelle Obama: No.

Pres. Barack Obama: Did we get a lot of views, at least?

Michelle Obama: Honey, enough. Why don't you just talk to somebody who's been through this? I gotta go to Soul Cycle.

Pres. Barack Obama: She's right. I know who I can to talk to.

Pres. Barack Obama: Hey, it's Barack. Listen, can we together?

Pres. Barack Obama: Now, that is a great movie.

John Boehner: Yeah.

Pres. Barack Obama: So, you got any advice for me?

John Boehner: So, now, you want my advice? First, stop sending me all these LinkedIn request. And second, here's the beauty of this whole thing, you've got all the time in the world to figure this out. You can just be you for a while if you're not going to do that again.

Pres. Barack Obama: So, I can just be me? And I can wear my mom jeans piece. I hate these tight jeans.

John Boehner: Good, good. Yesterday, I had a beer at 11:30 in the morning. And, you know, McDonald's now, serves breakfast all day long.

Pres. Barack Obama: You know, Michelle's gonna be at spin class, so she'll never know, right?

John Boehner: Let it go. And it won't be long, you'll be able to walk right out of the Oval Office singing, "Zip-a-dee-doo-dah, zip-a-dee-ay." Man, you got plenty of time to work on your tan. And you know what? I finally got the grand bargain on a sweet Chevy Tahoe. Look here, you want one?

Male Voice: Barack Obama on his 347th round of golf for the year, and it's totally great. And Gloria, not a problem for anybody.

Gloria: I can't think of a reason to care. And believe me, I've tried.

Pres. Barack Obama: There you go. I am still waiting for all of you to respond to my invitation to connect to LinkedIn. But I know you have jobs to do, which is what really brings us here tonight.

Pres. Barack Obama: I know that there are times that we've had differences, and that's inherent in our institutional roles. It's true of every president and his press corps. But we've always shared the same goal, to root our public discourse in the truth, to open the doors of this democracy, to do whatever we can to make our country and our world more free and more just. And I've always appreciated the role that you have all played as equal partners in reaching these goals.

Pres. Barack Obama: And our free press is why we, once again, recognize the real journalists who uncover the horrifying scandal and brought some measure of justice for thousands of victims throughout the world. They are here with us tonight. Sasha Pfeiffer, Mike Rezendes, Walter Robinson, Matt Caroll, and Ben Bradlee Jr. Please give them a big round of applause.

Pres. Barack Obama: A free press is why, once again, we honor Jason Rezaian, as Carol noted. Last time this year, we spoke of Jason's courage as he endured the isolation of an Iranian prison. This year, we see that courage in the flesh. And it's a living testament to the very idea of a free press and a reminder of the rising level of danger, and political intimidation, and physical threats faced by reporters overseas.

Pres. Barack Obama: And I can make this commitment that as long as I hold this office, my administration will continue to fight for the release of American journalists held against their will. And we will not stop until we may see the same freedom as Jason had.

Pres. Barack Obama: At home and abroad, journalists, like all of you, engage in the dogged pursuit of informing citizens, and holding leaders accountable, and making our government of the people possible. And it's an enormous responsibility. And I realize it's an enormous challenge at a time when the economics of the business sometimes incentivizes speed over depth, and when controversy and conflict are what most immediately attract readers and viewers. The good news is there's so many of you that are pushing against those trends. And as a citizen of this great democracy, I am grateful for that

Pres. Barack Obama: For this is also a time around the world when some of the fundamental ideals of liberal democracies are under attack and when notions of objectivity, and of a free press, and effects, and of evidence are trying to be undermined or, in some cases, ignored entirely. And in such a climate, it's not enough just to give people a megaphone. And that's why your power and your responsibility to dig, and to question, and to counter distortions and untruths is more important than ever.

Pres. Barack Obama: Taking a stand on behalf of what is true does not require you shedding your objectivity. In fact, it is the essence of good journalism. It affirms the idea that the only way we can build consensus, the only way that we can move forward as a country, the only way we can help the world mend itself is by agreeing on a baseline of facts when it comes to the challenges that confront us all.

Pres. Barack Obama: So, this night is a testament to all of you who've devoted your lives to that idea, who push to shine a light on the truth every single day. So, I want to close my final White House correspondents' dinner by just saying thank you. I'm very proud of what you've done. It has been an honor and a privilege to work side by side with you to strengthen our democracy. And with that, I just have two more words to say: Obama out.

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Popular Transcripts FULL TRANSCRIPT: Obama’s Complete Victory Speech | Election 2012

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FULL TRANSCRIPT: Obama's Complete Victory Speech | Election 2012 (transcribed by Sonix)

Barack Obama: More than 200 years after a former colony won the right to determine its own destiny, the task of perfecting our union moves forward. It moves forward because of you.

Barack Obama: It moves forward because you reaffirmed the spirit that has triumphed over war and depression, the spirit that has lifted this country from the depths of despair to the great heights of hope. The belief that while each of us will pursue our own individual dreams, we are an American family and we rise or fall together as one nation.

Barack Obama: Tonight, in this election, you, the American people reminded us that while our road has been hard, while our journey has been long, we have picked ourselves up, we have fought our way back. And we know in our hearts that for the United States of America, the best is yet to come. I want to thank every American who participated in this election.

Barack Obama: Whether you voted for the very first time or waited in line for a very long time. By the way, we have to fix that. Whether you pounding the pavement or picked up the phone. Whether you held an Obama sign or a Romney sign, you made your voice heard and you made a difference.

Barack Obama: I just spoke with Governor Romney and I congratulated him and Paul Ryan on a hard fought campaign. We may have battled fiercely, but it's only because we love this country deeply and we care so strongly about its future. From George to Lenore to their son, Mitt Romney, family has chosen to give back to America through public service. And that is his legacy that we honor and applaud tonight.

Barack Obama: In the weeks ahead, I also look forward to sitting down with Governor Romney to talk about where we can work together to move this country forward. I want to thank my friend and partner of the last four years, America's happy warrior, the best vice president anybody could ever hope for Joe Biden.

Barack Obama: And I wouldn't be the man I am today without the woman who agreed to marry me 20 years ago. Let me say this publicly, Michelle, I have never loved you more. I have never been prouder to watch the rest of America fall in love with you, too, as our nation's first lady. Sasha and Malia, before our very eyes, you're growing up to become two strong, smart, beautiful young women just like your mom. And I'm so proud of you guys, but I will say that for now, one dog's probably enough.

Barack Obama: To the best campaign team and volunteers in the history. You were new this time around and some of you have been at my side since the very beginning. But all of your family, no matter what you do or where you go from here, you will carry the memory of the history we made together and you will have the lifelong appreciation of a grateful president.

Barack Obama: Thank you for believing all the way to every hill, through every valley. You lifted me up the whole way, and I will always be grateful for everything that you've done and all the incredible work that you've put in. I know that political campaigns can sometimes seem small, even silly.

Barack Obama: And that provides plenty of fodder for the cynics who tell us that politics nothing more than a contest of egos or the domain of special interests. But if you ever get the chance to talk to folks who turned out at our rallies and crowded along a rope line in the high school gym or saw folks working late at a campaign office in some tiny county far away from home, you'll discover something else.

Barack Obama: You'll hear the determination in the voice of a young feild organizer who's working his way through college and wants to make sure every child has that same opportunity. You'll hear the pride in the voice of a volunteer who's going door to door because her brother was finally hired when the local auto plant added another shift.

Barack Obama: You'll hear the deep patriotism in the voice of a military spouse who's working the phones late at night to make sure that no one who fights for this country ever has to fight for a job or a roof over their head.

Barack Obama: That's why we do this. That's what politics can be. That's why elections matter. It's not small, it's big. It's important. Democracy in a nation of 300 million can be noisy and messy and complicated. We have our own opinions. Each of us has deeply held beliefs.

Barack Obama: And when we go through tough times, when we make big decisions as a country, it necessarily stirs passions, stirs up controversy. That won't change after tonight, and it shouldn't.

Barack Obama: These arguments we have are a mark of our liberty. And we can never forget that as we speak, people in distant nations are risking their lives right now just for a chance to argue about the issues that matter, the chance to cast their ballots like we did today.

Barack Obama: But despite all our differences. Most of us share certain hopes for America's future. We want our kids to grow up in a country where they have access to the best schools and the best teachers.

Barack Obama: A country that lives up to its legacy as the global leader in technology and discovery and innovation with all the good jobs and new businesses that follow. We want our children to live in America that isn't burdened by debt, that isn't weakened by inequality, that isn't threatened by the destructive power of a warming planet.

Barack Obama: We want to pass on a country that's safe and respected and admired around the world, a nation that is defended by the strongest military on earth and the best troops this this world has ever known.

Barack Obama: But also a country that moves with confidence beyond this time of war to shape a peace that is built on the promise of freedom and dignity for every human being, we believe in a generous America, in a compassionate America, in a tolerant America, open to the dreams of an immigrant's daughter who studies in our schools and pledges to our flag.

Barack Obama: To the young boy on the south side of Chicago sees a life beyond the nearest street corner. To the furniture worker's child in North Carolina who wants to become a doctor or a scientist, an engineer or an entrepreneur, a diplomat or even a president.

Barack Obama: That's the heat. That's the future we hope for. That's the vision we share. That's where we need to go forward. That's where we need to go.

Barack Obama: Now, we will disagree, sometimes fiercely, about how to get there, as it has for more than two centuries, progress will come in fits and starts. It's not always a straight line. It's not always a smooth path. By itself, the recognition that we have common hopes and dreams won't end all the gridlock or solve all our problems or substitute for the painstaking work of building consensus and making the difficult compromises needed to move this country forward.

Barack Obama: But that common bond is where we must begin. Our economy is recovered. A decade of war is ending, a long campaign is now. And whether I earned your vote or not, I have listened to you. I have learned from you and you've made me a better president. And with your stories and your struggles, I return to the White House more determined and more inspired than ever about the work he is to do and the future that lies ahead.

Barack Obama: Tonight, you voted for action, not politics as usual. You elected us to focus on your jobs, not ours, and in the coming weeks and months. I am looking forward to reaching out and working with leaders of both parties to meet the challenges we can only solve together reducing our deficit, reforming our tax code, fixing our immigration system, freeing ourselves from foreign oil.

Barack Obama: We've got more work to do. But that doesn't mean your work is done. The role of citizen in our democracy does not end with your vote. America's never been about what can be done for us. It's about what can be done by us together through the hard and frustrating but necessary work of self government. That's the principle we were founded on.

Barack Obama: This country has more wealth than any nation, but that's not what makes us rich. We had the most powerful military in history, but that's not what makes us strong. Our university, our culture are all the envy of the world. But that's not what keeps the world coming to our shores. What makes America exceptional are the bonds that hold together the most diverse nation on earth.

Barack Obama: The belief that our destiny is shared, that this country only works when we accept certain obligations to one another and the future generations to the freedom which so many Americans have fought for and died for. Comes with responsibilities as well as rights. And among those are love and charity and duty and patriotism. That's what makes America great.

Barack Obama: I am hopeful tonight because I've seen the spirit of work in America. I've seen it in the family business whose owners would rather cut their own pay than lay off their neighbors. And then the workers who would rather cut back their hours than see a friend lose a job.

Barack Obama: I've seen it in the soldiers who reenlist after losing a limb and in those seals who charged up the stairs into darkness and danger because they knew there was a buddy behind them watching their back.

Barack Obama: I've seen it on the shores of New Jersey and New York, where leaders from every party and level of government has swept aside their differences to help a community rebuild from the wreckage of a terrible storm.

Barack Obama: And I saw just the other day in Minner, Ohio, where a father told the story of his eight year old daughter whose long battle with leukemia nearly cost their family everything, had it not been for health care reform passing just a few months before the insurance company. I had to you to not just talk to the father, but meet. This incredible daughter of his.

Barack Obama: And when he spoke to the crowd, listening to that father's story, every parent in that room had tears in their eyes because we knew that little girl could be our own. And I know that every American wants her future to be just as bright. That's who we are. That's the country I'm so proud to lead as your president. And tonight, despite all the hardship we've been through, despite all the frustrations of Washington, I've never been more hopeful about our future.

Barack Obama: I have never been more hopeful about America. And I ask you to sustain that hope. I'm not talking about blind optimism, the kind of hope that just ignores the enormity of the tasks ahead or the roadblocks that stand in our path. I'm not talking about the wishful idealism that allows us to just sit on the sidelines or shirk from a fight.

Barack Obama: I have always believed that hope is that stubborn thing inside us that insists, despite all the evidence to the contrary, that something better awaits us so long as we have the courage to keep reaching, to keep working, to keep fighting.

Barack Obama: America, I believe we can build on the progress we've made and continue to fight for new jobs and new opportunity and new security for the middle class. I believe we can keep the promise of our founding, the idea that if you're willing to work hard, it doesn't matter who you are or where you come from or what you look like or where you love.

Barack Obama: It doesn't matter whether you're black or white or Hispanic or Asian or Native American or young or old or rich or poor, abled, disabled, gay or straight. You can make it here in America.

Barack Obama: It's.

Barack Obama: I believe we can seize this future together because we are not as divided as our politics suggest. We're not as cynical as the pundits believe. We are greater than the sum of our individual ambitions. And we remain more than a collection of red states and blue states. We are and forever will be the United.

Barack Obama: Grace, we will continue our journey forward and. Just what is that we live in the greatest nation on earth.

Sonix is the best online video transcription software in 2019.

The above video transcript for “FULL TRANSCRIPT: Obama's Complete Victory Speech | Election 2012 ” was transcribed by the best video transcription service called Sonix. Transcribing and editing video files is painful. Need to quickly convert your video files to text? Try Sonix today. Signing up for a free trial account is easy.

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Education Convert YouTube video to text

If you’ve ever wanted to convert a YouTube video to text, you are not alone. Many people don’t have time to watch & listen to a whole video and could read the transcript much faster.

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Sonix provides 30 free transcription minutes to test out. And there’s no credit card required.

Announcements NEW! External role permissions

Now, you can better restrict access to individual files and folders.

Many users wanted to share transcripts with people outside their organization, but they didn’t want them to access their entire account; maybe an external editor or a client. That’s why created two new roles for our multi-user Premium and Enterprise customers: External Editor and External View Only. 

It’s really easy to restrict certain users to files and folders as well. You can do that from the ACTIONS menu on your home page as shown below.

Education Tips on how to increase podcast listeners

We recently spoke with Blake Oliver from the Cloud Accounting Podcast about some of things he’s done to build his listener base. He explains the importance of engagement and how that propelled their podcast. He also talks about having influential industry people on his podcast drove a lot of new listeners. And lastly, he speaks about how the Sonix Media Player DOUBLED his listener base overnight.

You can see the Sonix Media Player below in action. Note the sandwich icon on the top right of the player. If you click that you can quickly navigate to any part of the transcript!

Lots of great insights in here. Enjoy!

How the Cloud Accounting Podcast DOUBLED its listeners (transcribed by Sonix)

Intro chat with Blake Oliver

Jamie: Hi, you’re here with Sonix and we’re talking to Blake Oliver today about his podcast and why he’s been able to double his listeners using the Sonix Media Player.

What is the Cloud Accounting Podcast about?

Blake: We are a weekly news update for accountants and bookkeepers who are interested in cloud accounting technology.

Jamie: I just got a couple of questions. The first one is how is your podcast going?

How is the Cloud Accounting Podcast going?

Blake: It’s going pretty well, I think we’re at something like 60 plus episodes now. So, in the current form, we’ve been doing it for a little over almost actually almost exactly a year. And it takes a while to get traction. Right. The first 50 episodes, I don’t know. You know, maybe a few hundred people were listening to each one of those. We’re in a niche right in the accounting world. But we just stuck with it and kept doing it and I think that’s what it takes. So, now we’re I think the last 4 episodes are a 1,000 listens each. So just onward and upward from there.

Jamie: Awesome. So what are your biggest challenges as it relates to podcasting?

What are the biggest challenges as it relates to podcasting?

Blake: So, initially it was just learning how to do it, because I do all the production. For something that wasn’t revenue generating for the first year I didn’t feel like going out and spending money on somebody to record it and produce it for me. And, you know, I’m kind of a stickler so I wanted to be able to pick which sections I’m going to cut and all that stuff.

How Blake learned how to create, produce and publish a podcast

Blake: I had to learn how to use the software–I use Adobe Audition. We use a tool called Zencaster to record the audio. You know, it took me like a solid day to figure out how to do an episode. And then I’ve got it down to a point where I can edit a 30 minute episode and post it in a couple of hours. So I just you know, we’ll do that on a Friday afternoon or evening with a beer or something like that.

Blake: Yeah. And the other challenge was figuring out the format. So we tried an interview style format and then we realized every podcast was doing that. And it got boring because if you had a bad guest, then you know the episode’s shit.

Blake: So, we decided we were gonna mix things up and do a weekly News Round-Up. And just sticking with that as our format I think has has really helped us grow the listener base because now they know what they’re going to get. And we’ve been really consistent about recording and and putting out an episode every week just trying to figure out the format and how to make it work. That was the biggest challenge. And now I think if we just keep doing it and we’re consistent with the quality, then hopefully we can grow to 10,000 thousand listeners.

Jamie: You’ve always been an entrepreneur and that’s almost like a pivot you created for your podcast. And I guess the question I have, with that, is as other podcasters look for listeners. What did you do to increase your listeners?

How did Blake grow and double his podcast listener base

Blake: Engagement is really huge. So, that’s that’s part of the reason we did the interviews in the first place. We figured, OK, if we interview somebody like Guy Pearson from Practice Ignition, who is known thought leader in the accounting world, then he’ll promote it and that’ll get us more listeners. So that that worked really well. But then we were having trouble keeping them because not every interview is going to be that good. And we were starting to run out of people to talk to.

Jamie: So you’re saying engagement was one or other things that you did to help grow your base from hundreds of listeners to thousands?

Using social media to grow the Cloud Accounting podcast listener base

Blake: Being active on a particular social media platform has been great. David and I have sort of keyed in on Twitter as being our best channel for this show, because I think the very quick rapid discourse on Twitter mirrors the way we like to handle stuff on the show. It’s very quick, like, here’s a news story that was important to accountants and we’ll talk about it for two to five minutes and then we’ll move on to the next one. So not these long, drawn out episodes that people are used to in our industry. They’re really boring.

Blake: And so then Twitter is great for that. So we will share out the stories that we talked about in every episode on Twitter throughout the week and say: “As discussed on the Cloud Accounting Podcast”, we created a handle for the podcast where people can go and link to the different services we’re streaming on. So that has been really helpful.

Engagement has been key to growing the listener base

Blake: And then engaging with different listeners. So listeners will tag us on Twitter with their thoughts as they listen to the episode and we will retweet those. We will comment on those. Even though our show isn’t live and it’s pre-recorded, we have a conversation throughout the week after the episode drops. And that gets people excited about it. They start talking about it. Our most loyal listeners, we will shout out to them on the show. That has been a really, really powerful tactic.

Jamie: Awesome. That makes a lot of sense.

Why Blake is inspired by Taylor Swift 🙂

Blake: So it’s funny because I heard a story about Taylor Swift when she was first starting out. Not that we’re ever gonna be as famous as she is. Right? But.

Jamie: You never know.

Blake: Yeah, well, maybe in the accounting world but apparently she responded to every single fan letter and engaged with everybody who was following her when she had a small following. And that built up that core loyal following that has become this massive following. So that’s what I think engagement can do.

Jamie: So you’re saying Taylor Swift is your role model?

Blake: Really? I think she’s probably everybody’s role model in a lot of ways. So.

Jamie: Right.

Blake: Yeah.

Jamie: Right. Ok. More specific to Sonix. We know you use Sonix. Why do you transcribe your podcast?

How the Sonix media player helped doubled his podcast listener base

Blake: So this goes with getting the show out there for more people. I find that it’s hard to convince people to go into their podcast app, search for a podcast that they’ve never heard of, and then listen. It’s a big commitment. And so the idea with using Sonix was because you guys have this amazing web player. I can have every episode transcribed, clean it up, and then post it on my episode page for every episode shortly after it goes live.

Blake: And so that way, when people who aren’t subscribed to the podcast, they find it online. Not only do they see the show notes, but they see a full transcript right below the show notes and they can just click anywhere in the transcript to play that particular part.

Blake: And to give you an example on our most popular episode to date. We had a 1,092 unique listeners to the podcast who actually listened to the episode or downloaded the episode, but because we also transcribed it in Sonix, the Sonix player had 2,387 uniques. So, basically, twice as many people were reading the transcript and playing the audio on the Sonix player as were downloading in their podcast app.

How the Sonix media player has driven more loyal listeners

Blake: And I think that episode helped us get more loyal listeners. Of course, not everybody is going to go and then subscribe to the podcast. They might just come for that one particular story. But the fact that they were able to listen to us and not just read it on the episode page. My suspicion is that that’s what helped us grow our listener base.

Blake: After that we went from like 500 listeners on every episode to almost a 1,000 now.

Jamie: Sounds like the Sonix media player is helping from a discovery standpoint. So you’re saying it’s a little bit more challenging for a brand new listener to go through the regular channels of downloading your podcast through Apple or Google Play, but they can easily find you on your web site?

Attracting listeners that aren’t subscribed to a podcast app

Blake: Yeah, and I think one reason it helps in our niche is because accountants are often on their desktop computers or laptops. So like if they’re going to listen to the podcast, they’d have to go over their phone and find it. And that’s just friction right there.

Blake: Whereas if they found us through a Google search because they’re searching about Quickbooks, then they would just click play and oh, now it’s there. And they want to get straight to the Quickbooks stuff because that’s what they’re interested in. Accountants like to get straight to the point. They can just scroll through the transcript and then click on whatever they want to hear.

“The Sonix media player is awesome” 🙂

Blake: For me, the embedded web player is awesome. There’s transcription services out there, lots of them, but nobody has a web player that works as well as yours.

Sonix is the best online audio transcription software in 2019.

The above audio transcript of “How the Cloud Accounting Podcast DOUBLED its listeners” was transcribed by the best audio transcription service called Sonix. If you have to convert audio to text in 2019, then you should try Sonix. Transcribing audio files is painful. Sonix makes it fast, easy, and affordable. I love using Sonix to transcribe my audio files.

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Education Automated subtitles and captions for LinkedIn videos

Problem: Creating captions is a headache

Creating subtitles and captions for your LinkedIn videos is time-consuming and painful. You could pay someone to do it for you, but that’s expensive and the turnaround time could be days or even weeks. There is a faster and easier way: An automated caption generator powered by artificial intelligence and natural language processing.

Solution: Automated caption generator

Sonix uses the latest artificial intelligence to create subtitles and captions automatically for your LinkedIn videos. Simply upload your video file to Sonix and you’ll receive a full transcript of your video in less than 6 minutes. From there you just export an SRT (SubRip Subtitle) file and insert it into your video on LinkedIn. It’s that simple.

Step-by-step: Automated subtitles & captions step-by-step

In Sonix:

  1. Upload your file to Sonix (https://sonix.ai)
  2. Click Transcribe
  3. Once you receive your transcript (approx 6 minutes), open your transcript
  4. Click EXPORT and choose “SubRip subtitle file (*.srt)”

In LinkedIn:

  1. From the LinkedIn “Start a post” box, click the video icon
  2. Once the video preview appears, click the edit icon (small pencil) in the upper right corner below the X.
  3. Click “Select file” and choose the file you exported from Sonix and click save.
  4. You can add additional text or hashtags to your post and then click post.
  5. You will get a notification once the video is uploaded, processed, and ready to view.

That’s it. It only takes a few minutes to create captions. No more headaches creating subtitles manually!