We’ve got a major announcement. We were supposed to have Note CAMP 7. What the original schedule was is to have our online Note Investing Summit to take place. We decided, “Let’s go a different route.” The reason for going a different route is for a couple of reasons. One, there are too many note events out there. You have a lot of people spraying up to do their version of a note conference and their version of a distressed asset conference. There are so many out there now. Everybody is watering down the industry. If you look at it, they’ve got the NoteWorthy Investor Summit twice a year. One time is too many. Distressed Mortgage Expo is twice a year now. It’s one too many. When you have two events that are back to back weekends, they’re in the same area and they only generate somewhere between 75 and 100 people at it besides their vendors, that’s not doing anybody any good. It doesn’t do the investors good. It doesn’t do your vendors good because they paid to have a booth there. It doesn’t help your investors because you have people that will split their time so you watered down the market, which is unfortunate.
It used to be just the NoteWorthy Expo taking place in Vegas at one point. It had 700 to 800 people. It was a great event. It dwindled down, lack of marketing. We did the East Coast event where we help Jack Sternberg a while back. We had 245 people attending. It’s not bad for a first-time event. It’s gone from there. You have the NoteExpo popping up. It’s a great networking event for any hosts everywhere with note school. You’ll have a couple of hundred people, but even that was down. You have Paper Source Convention taking place or the Note Symposium, it’s officially called. That’s a great event that Bill Mencarow had been going on for years now. It probably has 400 plus people at it. It’s in Vegas at the Tuscany. That’s the only downside, it’s at the Tuscany. It’s a good event. Bill knows his stuff. He’s doing it once a year. He does it in the middle of April. You’ll start running into the IMN Convention. Now they want to have some stuff. You’ll also run into other people who want to put events.
Part of the reason we started doing online events is we want to make it easy for people to travel to. What’s funny is people are like, “Let’s put an event.” I’m like, “You don’t make a lot of money in events when it comes to a convention.” You’ve got a big overhead. You’re paying $84 a gallon or you’re trying to bring sponsors. It’s not the same thing. If you only have 100 people that show up, that’s a tough pill to swallow too to do everything. The industry needs to shake itself up as a whole a little bit. Everybody can do their own thing. If you want to do it twice a year, do it twice a year. That’s fine. You have to set expectations that you’re going to be able to have 100 people at it. People aren’t going to fly all the way from the East Coast to the West Coast twice a year or vice versa from the West Coast to East Coast. People are very fickle about the coast that they spend time on. It’s what it is from everything that we see. This was part of the reason that we decided to do the online Note CAMP, campaign for Content, Actions, Marketing and Profits. That’s the four pillars of Note CAMP, Content, Actions, Marketing and Profits. It still has been a big hit.
We did it twice a year. We decided that we need to tighten up a little bit. The previous six, we averaged over 500 people in attendance. Our peak was 1,100 the second time we did it. It was great. The thing that comes with it is I don’t want to put an event where the same speakers are speaking at the same conference. There’s nothing fresh. That’s what I see happen a lot is the same people are speaking to the same events and the same vendors. Why am I going to pay my $300 to $400 to go to an event that I could go cheaper or I could wait around? I know who’s going to be there. I don’t need to travel. I’d rather advise you to stay home or go do something fun. Maybe some people are flying to Vegas for fun, but they’re not planning on going to an event. That’s the thing. When you figure out air costs, hotel costs and other things like that, it’s a little aggravating when you see all this stuff added up. I’m like, “Let’s be sensible here. We’re going to put on an event once a year. Just be smart. Don’t be greedy. It will be once a year.” That’s what we have done too.