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My First Million
From Quirkiest Biz Ideas to Favorite "Creatorpreneurs" - MFM Q&A
From Quirkiest Biz Ideas to Favorite "Creatorpreneurs" - MFM Q&A

From Quirkiest Biz Ideas to Favorite "Creatorpreneurs" - MFM Q&A

My First MillionGo to Podcast Page

My First Million, Shaan Puri, Sam Parr
·
39 Clips
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May 18, 2023
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Episode Summary
Episode Transcript
0:00
So I went to school at Belmont University and it was like a southern krish's Christian University that had low standards. Are that amazed what it says
0:07
on their website to
0:10
it like home above mediocrity? Mediocre people, exceptional prices.
0:20
Like I feel like I can rule the world. I know I could be what I want to
0:30
All in it, like all days are.
0:31
All right, we're live. We're doing a Q&A session. We decided this kind of last minute.
0:38
It's like, when a substitute teacher comes in and they roll out the TV on the trolley and they're like, hey guys, today, you know what I decided I want a day off, I don't know. Sorry, I wanted you guys to watch this movie.
0:52
No, it works out because frankly, I think people like
0:55
this, and we like the movie to it works. It's a
0:58
win-win. It's so yeah.
1:00
We have to do very little work and people like it. Let's just get right into it. We're going to keep each question at around 3 minutes which is not, you don't have to worry about me going over. It's Sean. Let's do it. Ben, what do you got? Let's do a little Q&A. So basically the background is we both tweeted out. What questions do you have and we got a bunch of them in the on the tweets and we'll see where we go. We had I think we have like a hundred hundreds of them and we selected maybe 10 ish of each of
1:29
From each of our Twitter's and we'll see which ones are interesting. And all right, go okay, from someone named new BET. Pretty basic one. What is your opinion on sweaty startups? All right, here's my opinion. I think it's cool. I think, any way you can get your nut, you get it. That said that
1:48
sounds philosophy. You've had since you were a teenager,
1:51
what? Ya? Get that nut. I think, if you can get it, it doesn't matter which way you get it, get it. And there's lots of examples of
2:00
Everyone succeeding in all different types of Industry. Personally, I think making money digitally is significantly better because it requires close to no capital. In some cases you can work from anywhere. There's been times, I've sent an email from my phone and it's made a whole bunch of money and I think that it's way hard way harder to make a million dollars a year from a brick and mortar business, then it does digitally. I also think that the lab class laptop class, I saw Elon Musk all Tesla headquarter employees to laptop laptop class.
2:29
So, I think those types of people of, which most of you are including myself, we want to do stuff with our hands, and I think it's significantly better just to make money on the internet and then all your free time, go get a hobby. Because if you go and talk to a blue-collar worker, they sure as hell don't want to be there. So I'd rather be in the situation of like, being able to choose to spend my time doing the other way versus
2:52
so it's what she in this question. The guy said, sweaty startup makes great. There's Nick, our buddy, Nick. Huber. So Nick makes great points about
3:00
Not wanting to compete with Stanford, grads generating real cash flow and getting rich too slow a I agree. This might be the best way to go. What do you guys think? So I think this whole Nick is great and Nick and I think you're totally right that however you want to win win. And there are many many ways to win if anything if this podcast is you one thing. It's how many different ways there are to win but given that given that there are many ways to win, you better choose the one you really want. And for me, I'm like, I might, as well choose the one that is most ideal.
3:29
The most intuitive the lifestyle I want. I don't want to go worry about the roof damage at my self storage facility or that the, you know, the $15 an hour employee, called out sick. And there's nobody at the front door. Now, take customers today. Like I don't want those issues. I'll I'm happy marrying a different set of issues and so that you know, I think you got to choose how you want to win and I also think this whole idea of like you don't want to compete against Stanford kids. This is like great sound bite.
4:00
But it doesn't matter. It's one of these true but not important. I used to say this all the time to piss everybody off in the office. I'd say that's so true and it doesn't matter. Yeah.
4:10
Which it's like, dude, I just want to win like my high school conference Championship. I don't need to worry about you saying,
4:15
exactly. I mean, like,
4:16
if I get there, I'll go.
4:17
Put it. Who's doing digital cup like an internet? Company is like God. These wretched. Stanford. Kids keep won't keep beating. It's like dude. I was even if I did see a Stanford. Could you seen those dorks? That's not a problem.
4:29
Like yeah, give him a wedgie and push him out the way nerd. Like you don't have to worry about these guys in motor. Nothing will still work and no keys are very thick. I'm just, but like it's not. The Stanford is that our problem? If you fail and the Internet, it's because it's a noisy place. A, you couldn't get anyone's attention, right? You die of starvation. Not murder when it comes to startups, internet startups. And so if you're if you're failing is not because the Stanford kids beat you, it's because the market didn't want what you what you had to offer. And I don't know, I like sitting behind my laptop, I haven't worn.
4:59
It's a, you know, 450 days, this is the way to live
5:03
and by the way you have or had, you know, you could talk about it whatever you want, but you've had an e-commerce business which is have 20% brick-and-mortar as in, you have like people you gotta go. See we have physical problems that we think are
5:19
house. We have things like that more than 20%. Yeah.
5:23
Whatever it is. And then you also did milk road which one was
5:26
better. The newsletter that the newsletter that someone else wrote that we pushed one button to send to you know 300,000 people and just printed profits from month one. Yeah, that's the one that I think that was the one I liked the best one that after a year, we were able to sell just like that because there was no none of that Sweat Right? They call it sweaty startups for a reason. So I've done both the one thing.
5:53
I will say, though, real estate has some amazing tax perks so that he doesn't that going for it
5:58
and we'll wrap it up by saying and this sounds like I'm making fun of Nick. And Cody, both of whom are my great friends, Cody Sanchez. So I'm not but
6:06
Ask them which ones making more money, the digital stuff or the brick-and-mortar stuff, right? I don't actually know the truth. So
6:15
these sweaty startup guys because pretty active on Twitter and Excel of courses and these online courses, huh? Which I have heard, is that laundromat, right? Right,
6:25
so I would out ask them which one they think is better, but who knows? All right, what do we got? All right, there's this amazing book called getting everything you can out of all you've got
6:36
Got I read it a few years ago and it changed my life and the reason I loved it was because it basically talks about how to get and make more money using things that you already have. Coincidentally, today's podcast is brought to you by business Made Simple. It's a podcast by Donald Miller who I'm gonna tell you about a second, but he has this amazing episode that's all related to this book. And the things that I learned in this book, it's called how to make money with what you already have. It's an incredible episode talks about all the stuff that I learned in this book, The Host is Donald Miller.
7:06
Don't know who Donald Miller was up until recently. But over the last 12 months, this is totally by coincidence. It was all separate people. They said you have to check out dr. Miller, he's amazing. So I'm happy that he's part of how spots podcast Network. You can check it out. Business Made Simple podcasts. It's where he coaches you and how to build your business like an airplane where the cockpit is your leadership. The body is your overhead, the right engine is your marketing. The left engine is your sales. You have to check it out. This guy's amazing, it's called business Made Simple with Donald Miller, all right. Next up,
7:36
I'll take it from the top someone named to block mates. Asks what's the most interesting business? You've seen that didn't take off. And why do you think that
7:43
was go heart? So there was this app back in the day that I saw and when I saw it I was like, this is this is going to hit. It was made by the Russian dudes and it's called povey. Oh, and what povo used to do was every other social network was like, I post photos. So Facebook was like, I go to a party. I post an album
8:06
Photos. Then Instagram was like, yo, I'm on the go, I'm had a cafe, I'll take a photo of my cappuccino and it all had this kind of like look at me, I'm kind of bragging about my life thing and I've always said that social networks when I social network, it's it's not because of a feature, it's because of a change in the privacy policy, right? So like Facebook was the first time you use your real name on the Internet because you would do it with other college kids, who went to your same school. That's why Facebook got your real name, your real relationship status real courses, put you
8:36
Get you to put it online. Twitter was like, hey, you don't have to be my friend, you could just follow me, I can't even, I don't have to prove. You just follow me. That's a change in privacy policy, Snapchat change of privacy policies like yo, this is a disappearing photo, that's private. So every great social network has a change in the privacy policy & po, vo had a genius one, which was you would request a photo from someone else. So, I would ping you and it would open up your phone and it would go three, two, one. And it would take a picture of where whatever you're doing,
9:06
Or wherever you're at it. So you can kind of be like, yeah, it's a way of saying, what's up? But the person would default reply with a photo and I was like, this is genius. They're getting people. They're giving people even more excuses to take random useless pictures. This shit's Gonna Fly and sure enough on the first college campus, it started to work and it was growing and then it just kind of faded away. It never really made it and I still believe in this mechanic of
9:33
If somebody made this app where you would, you would basically be you're basically saying, what's up, and they're replying with a photo and you're basically pulling the photo from them rather than pushing it online. I think that's kind of a game changer, but I was wrong and ever and ever
9:45
worked. I'm looking at their app description and their app page in iTunes. And it says that it only has like five reviews, so it never took off. But the funny part is is that you know how there's like screen shots of the app. It's a very clearly, it looks like a kid on the Stanford campus
10:03
Campus taking a picture and the weights a in Palo Alto. This is Santa Clara, I don't know what. I don't know what's there but like you don't got to worry about those Stanford kids. See it's no big deal doesn't
10:12
work,
10:14
but mine is Dorsey. So it didn't work out its door, the word door than sdy. But I've always wanted, I've been looking to invest in companies that have a good chance of making buying a home online possible. I'm like, I'm a firm believer that
10:33
People will end up buying clothes to everything online and there's only a few categories, but that's not the case. It's like Hardware. So, like like Home Depot, so, crushes it because like, you don't buy a screw on the internet and then homes. It's another things that people don't buy online. No one's figured it out yet. This company has not worked yet and I still think there's an opportunity for a company to work in the space where you can buy like you'll make hundreds of thousands of dollars or millions of dollar purchase on the internet. I think that's going to be a thing. Remember when Mark Cuban bought a jet on eBay,
11:02
Day and it was like all the rage like so freaked out. I didn't even know this. Yeah. So when he sold his company broadcast.com, he, you know, became a billionaire and he bought a 50 million dollar Gulfstream jet on eBay, and people were freaking out, which it's not. Even that like that's not even that interesting if he asked me, what's only interesting, that's a big purchase but like you know, a jet. Like if it's the same model, you kind of know what you're going to get. And like the condition is like, farewell, excellent? You know, I
11:27
just asked, Google's AI. Think I said, what percentage of Home, Depot sales are online and it said, 21 22.
11:32
Sixty percent of its sales are online. So even Home Depot selling the majority of products online
11:36
versus well, if it's if it's, if it's Revenue then. Yeah, I believe that because people will order grills but like when you want like a five dollar like bolt usually, just go there and you'll buy like, 10 of all different sizes. You know what I mean? See, like, which one's actually fit. But yeah. I'm into like things that can't be sold, aren't being sold online, yet that should be and I think that homes are one of them. What else you got bad?
12:00
All right, here we go. It's something. We've talked a lot about recently, but what does enough look like for you? You've got a much better answer than I do
12:09
it just just for reference, I put a bullet point in and I wrote out what my answer, might be like a blurb and Minds this like long thoughtful thing and then Sam's like, Sam's. I'll just answer yours for you just as I don't think there's ever enough of you explain your foot of you that I'll
12:25
sound like me to use why I thought that there was like there's been multiple
12:29
Times in my life, it was like a hundred thousand dollars, five hundred thousand dollars. We're I thought I won't worry and I've hit a lot of different of these targets and I still worry there's times where I worry less for a little while, but it like, have you ever heard the idea of like, have you ever seen? You probably haven't. But there's like stories and studies of people who lose a lose a limb. And they're pretty band like six or yeah their bums like 6 or 12 months and then they go right back to be in the like okay, I'm back at it. I feel fine. I think it's the same with like a lot of
12:59
Money stuff where it's like, you make it the amount that you thought and then you go back to like, where you were and I believe that to be true. That's why I said Never Enough.
13:08
Well, actually a couple of other ways I think about this. So
13:11
yeah, come on Indian Guru. Let me just say, I
13:14
mean do you got your wisdom comes out everybody because I'm gonna kill you.
13:19
Yeah. Are you gonna do need to sit like a Indian style to
13:22
tell the story? Let's just take a deep breath in first before I do this. Alright, so
13:29
The pasta so much. So Paul Graham did this thing where he created Y combinator which is basically the most successful company in Silicon Valley besides like Google and Facebook and then he just retired, he's just left and he moved to like the woods in England and he just writes code in his cabin with his kids and writes your poetry and paints. And we'll go for walks and I was like this mother, this motherfucker thinks he's got enough, huh? That's like
13:59
How dare he leave the rat race? All of the rats, we were shaking our fists, be like, you get your ass back in here and and I got inspired by that. And I was like, okay. So what is the like, what's the enough State not money, but like, what would I, what is my version? So, instead of thinking, what number would, I feel like is enough because I think that's a trap. I just thought about, like if I felt like I had enough of what I want to go do and I thought maybe I could just go do that thing. So here's what I came up with two things. I said,
14:29
I heard this navall quote, which was retirement is when you stop sacrificing today for an imagine tomorrow and that hit home. And he was like, you know what that means? Is that the moment you do things in your day that the act of doing them is the reward. Not like you're doing them today, sacrificing for some future payoffs that are going to come at that moment. You are free and and I was like, okay, that's the goal, the goal is to be free. Meaning, the goal is
14:59
You on a daily basis, do things that the act of doing them is the reward. I'm not doing them for some future rewards and I said if I did that won't what types of things? What I want to do, what types of things is the act of doing them, the reward itself. And here's what I came up with. I said, I think that having a big podcast is actually the best job in the world and I'm obviously biased here. But I've also tried a bunch of things and this is the best. If you have a big podcast, that means you're famous. But you're only famous amongst nerds, which is kind of the not annoying way to be famous. It's like all the good parts of
15:29
Famous, without the bad, you also get rich, but you didn't have to chase money, you get to create content but you're not like the annoying 24/7 vlogger, who's got their phone out and ruins like their actual life trying to create content for some audience. Because with the podcast, like we sit here for like 2 hours a week in recorder, three hours a week in record, and that's it. The other 165 hours in a week, we get to do whatever we want. We want to think about creating content
15:55
and we don't have to get hurt while we're doing it. Like if you watch, I don't do costly on one up myself.
15:59
Like like they dumbass YouTuber who crashed a plane on purpose for views and now he's going to jail. You're not competing on an algorithm like Tick-Tock where you get this hit a Fame and then you're forever. Chasing it podcast. Great. You just talk your unscripted, your unedited. You're talking to a friend or somebody you admire. Like if it's a guest that seems like the best job in the world and then for fun, I would basically coach a basketball team like Mighty Ducks style and I would want to just shoot like chill out and just shoot the shit in a writers room for like a TV show or
16:29
A comedian or teach it stand for twice a week. I think those are the things that I would just do for the pure joy of doing them, not for some future rewards and into me, I'll have enough when my day is mostly shit like that.
16:44
Alright, everyone so really quick, a few weeks ago, the founder of HubSpot who seems dark mesh you came out of the pot, he's a fan. Favor of the party comes on every couple months and we love them. You guys love them. And he told us about this new project that he had, it was called chat spot. It's pretty amazing.
16:59
I think it's an AI powered tool within HubSpot. It does everything you could just use your words and talk to it and we'll pull all these amazing reports. They'll tell you about your leads, it can forecast Revenue all in seconds, it's amazing. So if you're running a business that requires more leads, that requires creating new landing pages, where you have to make tons of blog posts, we have to pull different reports, we have a CRM, you have to check out HubSpot there, the sponsor of the Pod and you can check it out and used our meshes new tool called chat spot. It's amazing. I've been using it for my own business at Hampton.
17:29
And we love it. So check it out HubSpot.com. Why haven't you try to get a teaching job or coaching job?
17:37
I haven't put enough attention on it. Like this question. Made me think about it and made me think, oh, why don't I just go do that now? And often life. Is that simple? Like it's not that there's actually any barrier in the way. It's just, I didn't put my attention on. What do I really want? Oh yeah. Okay. I can probably just go get
17:52
that one. Good excuses. You have young kids. So it's like once they go to school, maybe that will be.
17:58
Yeah. But it
17:59
Believer in that. I think it's really just a matter of like I didn't put my focus on, that's what I really want. Okay, then go get it.
18:07
By the way, there was a good Paul Graham thing. So this guy tweeted out there are very few second time as Founders because anyone smart enough to succeed. The first time is it dumb enough to do it all over again? Paul replied, he goes anyone smart enough to succeed the first time is still running that company. And then our friend Nikita go. Yeah. Wonder why happened with that washed up via web founder? And what he's doing these days that was Paul G. The first thing and he goes to shape all so like, you know, even even the smart guys, like Paul can
18:36
Get things wrong once in a while. So he says he's got enough but who knows? I actually do believe that he does but I think your answer is better than mine. It is about enjoying the experience more and whenever I was like running my old company, the hustle I look back at it and I'm like I wish I would have enjoyed that more during the process but it's a very challenging thing to
18:58
do. I'll just ask you one thing. Are you okay with knowing that you'll never have enough before you answer that? Let me just put it the other way which is
19:06
You feel like you'll never have enough that sort of is to me. That means you're never really free. Like the most fun interactions. You know, this is like, when you meet with somebody, you want nothing from them and you need nothing from them. Like those are the best interactions with people. If there is no for freeing feeling, that just literally, I don't need you and I don't want anything from you. I can just be here and just have have whatever experience. I'm going to have versus the opposite. When you want someone's approval, or you need them to like you, or you need them to hire you those
19:36
Are the most stressful interactions. And so to me I think if you want to be free you got to believe that there is such a thing as enough. I think we're you're thinking about it differently than I am. So let's say that you're an athlete. Let's say that you're a weight lifter or let's say that you're a comedian, your Hasan minhaj your body. Is he ever going to be? Like I'm funny enough. I don't need to improve my craft anymore. I don't think so. I think he could find a bit of contentment of being like, I'm on top of my game, I'm doing awesome and I can always get better and that's kind
20:06
of
20:06
When I say It's never enough, that's what I mean. If my craft is building, if my crap is building companies, that means that there's always more that I can do to be better. But that doesn't mean that I'm unhappy or not satisfied with where I am.
20:19
Fair enough, fair enough. All right, Ben, let's go to our next one.
20:22
If you go back to your college days, what is the one thing you would have done differently? Knowing what, you know, now, that's from Sam Faber.
20:29
So I was a huge idiot in college and not even like the cool idiot. That was like, ah, man, I was, I was just being
20:36
And um just going to parties having fun with my friends late nights. You know? It's like wait did you love it? Or are you saying it was bad as like for me I was just maybe I wasn't doing nothing, it was a do-nothing idiot and that's the worst kind. And to me now that I look back I'm like wow college is a gold mine, you can make lifelong friends, you can meet future business partners even just you know, I'm a business, junkie lint. Now I wish that when I was in college, I had been launching businesses. I got a captive Market of students who, I understand who I can reach.
21:06
Just live. It literally living in this bubble waiting to be sold products and I could have been working on my skills then versus I started working on my skills after college, you know, there's a lum Nye that like, I didn't realize how powerful it is just to be like, hey, I'm also I also go to Duke. You went to Duke 35 years ago, I go there now and they're like, cool. You wanna hang out? And it's like, it's that easy to connect. And so now I look back, I would say I would mine that gold mine. I was just sitting there.
21:36
Eating Chick-fil-A on top of a gold mine. I didn't even really look down and realize what I was sitting on the only smart thing I did was I studied abroad which is kind of a thing. You really want to do it that we're time. I went to Australia.
21:48
What would you? You didn't go to Sydney? Did you did? Yeah. Yeah man, Sonny I think Sydney Australia is the greatest City. It is the greatest City Lights to be. It's the best place to be like a
21:56
nineteen-year-old. The greatest place on
21:58
Earth. My biggest regret is that I didn't take High School seriously enough to get into some of these amazing school. So I went to school at Belmont University.
22:06
It was like a southern crushes, Christian University, that had low standards.
22:11
Are that amazed what it
22:12
says on their website to it like home above mediocrity mediocre people exceptional prices like back then it was very expensive, it was very expensive and it was like a such a mediocre thing. I like when you say you went to Duke like I I envy you. So
22:36
Much because at least you got like even the bad, the basketball guys for like the best and then a lot of your peers for very, very smart. And I bet you met like a lot of people from even though it was in the South, I bet you still met like tons of different like foreigners people from New York City people from California. I didn't get to meet any of those people. So, I regret that the first Jewish person I met was when I moved to San Francisco at the age of like 22, like I didn't know like it was just like pretty much just white people and so I wish I was like around morale of a like a global group of people. And so that was my
23:06
My big regrets. I also wish that I took seriously, the idea that the things that you do in college, aren't that important, they don't have to be like the thing that you do, but if you take your hobbies seriously it's a really fun time to try on different personalities and things like that. So I wish I had a little, I took, I wish I took that more. Seriously,
23:25
I partly agree with that college part, which was I thought in college. The thing is your classes and the result is your grades, but actually that's completely backwards. Like the thing is,
23:36
Is the people in the environment. That's the one thing I never getting it back and then if you really wanted a result you wanted to like, you know, take it. Seriously the way to take it, seriously wasn't to get a pluses or like, you know, be an amazing chemistry major it was actually like, hey, this is for years and after this I'm supposed to figure out what I'm supposed to be like doing a job in a, pick a career, I should dabble. I should go and like sample, like it's Costco and it's noon. And I should go sample, a bunch of different ways, things that you could do meet a bunch of people who do that.
24:06
Thing. And I should take this time to figure out what do I actually like to do. And I wish colleges were oriented like that because colleges are oriented around the opposite assumption. It's like pick what you want is that means you must know and then put your head down and focus and it's like that's the wrong time to focus. You should be dabbling at that stage.
24:24
Do you have? Good credit.
24:26
I'm okay credit. I've good enough
24:28
credit.
24:30
Dude, I wish I would have so I didn't like get a credit card until I was like 24. And then I started my company and I would Max it out constantly and then I don't, and I would always like, pay it pay it off like before I had to sew my credit card, utilization was always like 100% And I didn't have a long credit history and so I wish I had this very practical thing. I wish I had a credit card at the age of 18 and I used it for everything and always paid it off. So I could build credit history, I don't have like the most the best credit because of that.
24:59
Did that come back to bite you? Wait, wait, why do you need your credit too bad? You're trying to get
25:02
loans or something. What do what you want to do when I try to buy the house that I'm living in now, I couldn't buy it, my wife had to buy it one because my credit history wasn't long enough, which is crazy and it wasn't like a fantastic. I think every once in a while, it's in the 600's and then be because you're a business owner, buying a house, and getting a mortgage is really, really challenging, so I can I couldn't buy it. Fair enough. All right, what do we got? All right, this next one is, have you had a
25:29
I will not go through when close to finishing it. If so, what did you learn to do better? How did your mentality regroup to start the process over? Not for sure, but I feel like the sellers are trying to tank this business acquisition, which is supposed to close on, May 31st that's from Mackenzie read. This is a great question and the II inter accidentally enter up to do. But he said, I feel like, sellers are trying to tank. This Biz acquisition, which is supposed to close on 531, I want to address that, but first, I had a deal go through. I think my nda's up.
25:59
But there was a recent Media company that went bankrupt that tried to buy the hustle and we got to a term sheet and it completely fell through or we got to an Loi and it completely fell through and there was like three others that I had lined up and also felt through and I was devastated. So I changed my opinion to this like any deal that I have. It's going to happen to it will not happen but I will act as if it's going to. But just assume it's not going through and then if it does, I will be happy because most
26:29
All through, but to address that last question of, I think the seller to try to take this Biz acquisition. I have that exact same attitude when I sold the HubSpot play. And then one day, I just told him I got to know the woman who is I was working with at HubSpot and she was like, look you don't understand, we're worth twenty billion dollars. This deal is really not a big deal to us. Like this ain't gonna do anything for us. I mean, I'll do a little something, but just so, you know, we already got like board approval to do it, which means, I told my boss and that boss told their boss and then
26:59
That boss reported it to 12 people who are like billionaires and shit and so if this deal doesn't go through all that means. All 12 of those people have to like change something and then more. So I'm going to look stupid and my boss is gonna look stupid. And this other boss is going to look stupid. So because we're a big publicly traded company, if we say we're going to do something we're going to do it, not necessarily because of it's a logical, good deal but because I don't want to look dumb in front of all my bosses. So we're going to do this versus when you sell to a smaller company or like a
27:29
Dividual. Who's got money? I do feel they will always try or not. Always a lot of times. They will nickel-and-dime you or they will try to dock you, but I don't necessarily think a lot of times they're trying to ruin something, but I do think they will have ulterior motives which is like, I'm trying to learn a little bit of information about those companies. I can start my own or to all these other things, but when you sell to a big publicly traded company, I think nine out of 10 times, it's not in their best interest to screw you.
27:52
That's a great answer. I'm the same way I go into every single deal. Assuming the deal is not going to go through because
27:59
As Emmett said to me birds fly fish swim and Deals fall through. That's what they do deals fall through. It is not a is not a, you know, outlier or exception or like disaster. When that happen do a deal, did what it does deals fall through, that's what they do, baby. Like what you're worried about, sit your ass down. Why are you crying? That's how bad my God. That's how I talk to myself when I when I get like emotionally attached to a deal. So the emotional Detachment is key. All
28:29
How do you do that? Part of it. You gotta yet. You needed to be having a bulletproof mindset before you get into an m&a, transaction. It's too late when you're in the m&a transaction to be like. Alright guys, my toughen up this here brain to be able to like operate in a very like tricky circumstance where I might get life-changing money or it might all fall through and like you know that's a that's hard to do then you gotta train before that you know that's the first thing. Second thing is I not only do they fall through, that's also not fatal when they do in fact.
28:59
Every deal I've done, has had a fall through moment if not too and so that is my rule of thumb, which is that every deal that does close both there's going to be two walkaways along the way. You're going to walk away or they're going to walk away. That's going to probably happen twice. You're going to hit a wall twice before this deal actually happens where it feels like. This steel is dead or it's simply not happening or there's just a very, very low chance that we get over this hurdle.
29:25
Have you announced or have you said, if you ever mention, I'm not sure if it's a
29:29
The other two people you almost sold to. But instead of
29:31
twitch, I think I said before, like we got pretty far down the road with Facebook, and then we also had a couple others that were Facebook. We had that we were like out one hour away from accepting the deal and finishing it. And one of the good things that they did tell me was same thing. You just said about HubSpot, it's, which is owned by Amazon and the Corp Dev guy was like, look, I'm sorry we've been so slow and I'm sorry. We're not the like we can't just give you everything you want in terms of price.
29:59
But here's the good news, we will not reach trade this deal, which is what's called when you come back and you try to get that after they told me to get negotiation once, everybody's fully emotionally invested in your like, but actually now I want to change this
30:12
but then you think like oh you're just a doctor. You tell everyone that their kids are like doing great or like they look the cute like you don't even like your does, your
30:19
bullshit had my crew who's helping me, help me get through it and he confirmed that he was investment banker who done 100 plus transaction. He's like yeah, these guys are
30:29
Both of them, Facebook and Amazon, if they give you an offer, they're solid on that, that will be the deal that goes through. There will be, if they doesn't close this because you didn't disclose something that you then come out later with or you change your mind. It's not going to be because of them. That's the good news of these big companies. The bad news is deals, get hung up or delayed for all kinds of terrible reasons. So you know, I just sort of expect a deal is always going to go slower than you want. Is most likely going to fall through and even when a deal happens it's going to break up twice before it happens. That is the rule of thumb and so
30:59
So I got to do, I got some great advice from Balaji when I was doing the milk Road sale, we had a couple of offers and one offer was higher on the money and the other offer was a little lower on the like you know, I would say what was it? Like 25 percent lower on money or something like that? The say and he goes okay, well you're saying you're you know, you want to take the higher deal that makes sense. Let me ask you one question and he goes are both of these deals at the same point. Meaning, have they both been, have you been talking about the same amount of time? Have they done the same?
31:29
Out of diligence so far, have you gone back and forth the same amount of times at them? As I don't know, the lower deal. We've gone all the way through and this higher deal where it's he just came on super, you know, they came on super fast and they were really eager and we got the deal done fast. I was kind of excited like these guys seem really committed because they're, they're, they're, they're moving really quickly here and he goes, okay? So you need to apply a discount then, because the offer is not 25% higher. In fact, it's probably half as high. Once you apply the discount of
31:58
This deal, does it doesn't close or falls through? You're going to turn down an offer that's solid for an offer. That might be a slightly higher but hasn't done the to follow throughs yet and so he's like you need to apply discount. He's like if I'm honest if I'm discounted this it's at least fifty percent based off of this, the normal way that m&a deals work that this deal will not be the exact deal door closes if it closes at all, and that was very Sage advice, and it ended up ended up playing exactly out. We tried
32:28
go with the higher offer and then sure enough, more stuff came out of the woodwork work that gave us. Hesitation and then we were like, look, this is not as solid as we initially thought or like, you know, the we can't just take the headline numbers. We have to take into consideration, the ability to close, and The credibility to close and that change the calculus.
32:48
And the way you get around that is you say the bad things up front? I think as best as you can, you say anything that will ruin it as early in the process versus as late in the
32:58
This was great advice. You gave me, you gave me this advice, when we go to the milk Road process you go. Here's what you're going to do because I was going to dinner with them and I said, you said his, you're going to, you're going to go there and you're going to say the following. You're going to say, awesome. Sounds like we're all excited. Now, I'm going to tell you every reason you should not buy this company. I'm going to show you every skeleton in the closet. Now, save yourself, some pain later and if anything to your scares, you I'm happy to either explain it or if it just doesn't work, then you know you, we can know now and I was like, well, that's the opposite of how
33:28
How I would have naturally approached it, so tell me more. And then I did exactly that. And after the deal went, so we did that. And then after the deal went through, we did a post-mortem like, hey, that's how you know. These buyers are smart. They're like, what could we have done differently in our by? And I said, same what could we have done differently in the sale? And they were like one of the best things you did was at that dinner. Would you just told us anything that was bad about the company and you just proactively said, here's all the skeletons in our closet or anything that might look ugly to you because that built so much trust.
33:58
For us that and he's like from there. We weren't even like we weren't worried about those things because it builds so much trust and
34:07
it's a very selfish thing. You gotta do it in a non
34:09
manipulative way. You can't actually do that and leave out the real skeleton. That that shit's like the opposite, don't know. So, so that definitely worked and got confirmed on the old.
34:17
It's a it's a win-win scenario which is you get the deal done. Hopefully faster than then slower and also it makes them trust you which
34:28
Which is you find out earlier that the it's not going to work and you move on. You don't waste three months of time, you know. Dragging it out when you would have. You could have known that up front. If boats have been more honest,
34:40
I agree. All right, Ben, what do you say? All right. Next question is, do you have any updates to Sarah's list or any new additions? So, Sarah's list, is this list is standard for my wife because it's at this point, it's just its own name but basically, we made a list of companies where you could join
34:58
Wayne and have a safe job. Meaning you're hopefully not going to get laid off like you would at a 10-person startup or go out of business. You can still get paid a lot in salary and then still have like maternity paternity leave and have a lot of these perks and benefits and also your stock. I think our requirement is, could 10x, is it
35:15
affects? So, basically 55, basically, it's based off your real, real story, Sarah joined, Facebook. She joined Airbnb. And she joined them not like super early when they were just still in their, you know, their apartment trying to figure it out.
35:28
Out. It was like it was it was working. This is a business that was already valued at, you know, let's say a billion dollars or more and it's a multi it was a multi-billion dollar company already you get the fat salary, you get the oat milk unlimited oat milk on tap, in the in the break room. You get the maternity leave. You get everything you would want. But also, you get a stock package that even if you're not even like a AI engineer, like let's say, you're getting
35:55
70k a year of stock. If that thing 5x is, you could become a millionaire without ever having done. The startup route, just in a four-year vest cycle. And so, and that was, your wife story was inspiring to me. And to you is like, I feel like nobody talks about this, but you have to correctly identify the companies that can 4 or 5 x in the next four years and so we have this list. So, anyways, they want an update on that list, but there's a YouTube video of
36:24
The last time we did Sara's, listen, we I think we've got it done twice that we actually updated that. Hey, a bunch of the companies we said the first time sure enough. I think the average multiple was like you know, in exactly the range that we had talked about. So now I actually think it's the opposite, I'm calling it Sarah's, Exodus basically, there's a whole bunch of companies that raised money in 2020 2021 that we're at valuations. That worked when the economy was different, the stock market was different inflation was different. Interest rates were different.
36:53
And now those companies it'll take two years to get back to that same valuation. If that I said, now, I think it's Sarah's Exodus which is what are the companies, where you just have zombie Equity. You are so far underwater on the value of your shares. That not only will it not for 5x. It's not even going to 1x. You won't even get what you think it's worth today. You're going to sit there for four years earning that useless stock. And so actually you have to make the opposite list. What companies raise too much at the wrong time at the wrong valuation that are basically upside.
37:23
Down and,
37:24
and you basically will go to TechCrunch and you put year, one of the
37:28
bombers basically stay in 2020 2021 as the peak, maybe even a little 2019
37:34
and go through TechCrunch and do sort by like ear certain anything
37:38
unicorn. Yeah. Yeah. And anything,
37:41
that became a unicorn in that era assume that the likelihood is huddled that proven
37:46
otherwise, right? Go to your go to your CEO and say, hey, what is the Fairmount Market valid? Is there actual
37:53
Market value of this company right now. What's a lot? What is the last money raised at how much total money have we raised oh we've raised six hundred million dollars. Okay? So we'd have to sell the first 600 million. If we sold would just go back to the investors, it goes into nothing to employees
38:09
and your to how much secondary did you take and what type of G-Wagon do you have whatever color than this? Yeah. Yeah. I got those things. Did I ever tell you the crate? So you're talking about like going to these big companies and you
38:23
Get like all-you-can-eat food and she like that. Did I tell you about the craziest thing at Airbnb. So, if you go to their, they have like a cafeteria, their whole. Shtick was that every single thing from the ketchup and mayonnaise to the Coca-Cola to the all the condiments, the trail mix, everything was made in house on premises what, when there is an office. All the food was made right there on the spot and it was amazing.
38:48
There was a that, that's amazing. I remember the same thing happened at
38:53
What's it called Zynga? I went to think I met the head chef at Zynga here and the chef was a manager of like 40 people. That was The Culinary to the internal culinary team. Was 40 people at Zynga you show up at Zynga. First of all, there's like 94 dogs running around insane amount of dogs, their logos, a dog and there's two dogs for everyone employee there. Secondly 40 persons like a dog. I didn't pit in the middle like people like we're times yelling guys. Other Facebook, maybe I'll yeah, there was a little dog fighting ring.
39:23
And then through Devon and the second floor, and I went into the kitchen and I was walking around. He's like, yeah, we do our own butchering and he opens his like, fridge, that was like a 40-foot, the, you know, like fridge and there's just like, one of the dogs, there was a cows, hanging upside down. I was like, you're gonna break that down. He's like, yes, I'm breaking it down every morning. What's this on tap? There's No Label. He's like, that's my homemade kombucha. Like we make her own, we Brew our own drinks, we make our own food the veggies that you see.
39:53
Mushroom, it grows on the roof here and then during the tour, I got a little hungry reach into the pocket. Had some cheese. It's opened up the bag, dude. They aired the crinkling of a packaged good in that kitchen.
40:09
The dog is about it. Like it was, like I said, bomb on a plane. Dude, I was like, I'm so sorry. I don't know how this got here. I don't know what this is. Put this in my pocket.
40:22
It did they still have you think? Of course, I don't now. But
40:25
although we have the building here, the whole building got sold. I
40:30
think the building sold for more than the company was worth at the time, I think, if you Google sing a building, they own this building in San Francisco. And I think they sold it for.
40:38
Fifty million dollars at the time in the market cap of the company was 200 million
40:42
dollars. Yeah, that was either that or more profit than ever generated was one of those two. And yeah, now it's owned by take-two who makes Grand Theft Auto and NBA 2K, they own zinc.
40:53
Yeah. I like those those Chef company. So, like, Sarah's list. I think you gotta go get gear, someone else, nice
40:59
hating. Somebody, who works at a tech company with all-you-can-eat food,
41:04
How are you doing? What's the point? No Barracks, bro. What are the priests of as?
41:08
Yeah? What are the attributes of this relationship? You know, if you need to bring some attributes, you better be, you know, the like starving artist extra hot or you have a company hasn't all you
41:19
seen? How many Clif bars I was like a. Like I was the Pablo Escobar of smuggling Cliff Barnes out of tech companies for like three years. I had free prosciutto for a year. I used to, like, I used to, I used to call it that or not, I don't know.
41:33
What it was like, in all the land, dude. I
41:38
used to send her to work with Tupperware containers. It's on a break. Make sure you stay till 7:00. When I do this over dinner there. Why are you home so early? I know that Facebook dinner didn't start till 5:30. It takes you an hour to get home? Where's my parachute Ben? What do you say? What do we got? Do you have any Frameworks for maintaining healthy friendships? Especially when you're separated by distance? Mine, simple. I'm in the phase of life.
42:03
Right now I have got one simple phrase. I'm comes a friends. No New Friends. If they're in
42:07
your, it's a mental model for you. Yeah. Everybody knows everything if you and you
42:16
and if you ain't, you ain't what's
42:18
yours. Yeah, I'm the same. I suck at this. I apologize to my friends. I'm a shitty friend to them. They know it. I do feel bad about it, but you could only try to be great at so many things at once and okay, I got kids. So,
42:31
but what are you still picking? Which
42:33
thing going to be
42:33
greater when it, which was she gonna be trying to be a great dad. Try to make a bunch of money and then try to get into incredible shape. Those are the things I've prioritize right now and so, you know, friends had to take a little bit of a hit there.
42:48
All right, you lose her. What do you say, Ben what do we got? If you were to start a business based on the quirkiest or most ridiculous idea that you've ever had, what would it be and why yours is actually good.
42:59
Sean yeah. Did you have an answer for this?
43:02
No, because I'm not like that. Quirky of a person who say yours the IQ test is actually a good idea. All right, so I so I remember, I met a guy who would sell stars, like, literally like a star in the solar system for $25, he would name it after you and I think he would just name it in his own database.
43:23
And then there's and I saw this, there's this guy's just a crushing on Tick-Tock. I don't have you seen these Tick-Tock heads where you he will they own a small piece of land in like Dublin or something like that and you will officially be knighted as a sir like you'll get official title as sir and you will own a piece like a plant on this land, 1 foot by 1 foot. So you know, like this plot of land. So when I saw things like that, you know, there's really two reactions, there's most people who
43:53
Why roll and say this is what's wrong with the world. And then there's me who's like, man, what's wrong with me? Why haven't I done this? And that's kind of where I'm at. So I would love to just take time to do some of these stupid things. Like I want to be the pet rock guy or like the million-dollar home page guy. I think that would just be a lot of fun as a challenge. I have an idea which is I want to create a new IQ test because like who doesn't want to seem like they have high L like a high IQ. I'd say that you build like a D2 C IQ tests that people would pay to see how what how they score.
44:23
Or just go all in on something. Super, whoo, like horoscopes crystals, somebody, that actually launched a DLC, Crystal Brand, like, an e-commerce brand for a month and now that I look back now that I know it actually, how e-commerce works that brown was actually working. I was just too big of a noob to even understand. Like is this guy bad?
44:43
Why is it good? Because people can't return it?
44:46
No no I just mean like it was working like I was acquiring customers at a good rate like the I mean Ali Khan.
44:53
Immerse is basically kak for sale TV. It's just what's a lifetime value of a customer, the LTV compared to the cat, the cost of acquiring that customer and, and actually my LTV to kayak was actually good. I just didn't really understand it enough. At the time, I didn't trust it enough at the time, but my first e-comm Biz before, the one I made was a crystal one. Like, in my garage right now, I have like, 4,000 rose quartz coasters still just because I didn't sell again. I didn't move though. That inventory. I shut it down.
45:19
How much do they cost for you to buy and to sell?
45:22
Oh dude these are very cheap to buy like you know, the gross margins are like 75 80 percent. So you know you buy it for two bucks, you sell for ten it's just like round math, right? But like in reality or selling it for 24 and you're buying it for whatever that math turns out to
45:38
do that's wild. But like also you don't want to be a fraud which hey if you're selling crystals. I mean
45:45
fraud is in the eye of the believer as I say. And there are a lot of people who believe that crystals are good and
45:52
Them, like the reason I had this idea of all was ice, but I'll sell it to I went and I read and opened up a magazine like, you know, Cosmo or one of these magazines. I was like, okay, I'm gonna go look outside of my normal box for new ideas. So I went opened up like Cosmo and there's like this to two page spread about crystals and it was basically, like Adele will not go on stage until she like uses her rose quartz crystal thing. Kim Kardashian. After she got mugged for her. Four million dollar diamond ring on her finger.
46:22
Amber this. She claims that crystals were one of the like only things that kept her anxiety down and soothe her. And she keeps one in her bag at all times. Gwyneth Paltrow from goop? I mean, obviously huge into crystals, the do I even need to explain so there was like this huge number of like
46:38
celebrities email answers well and there's the Adam Sandler movie with Kevin Garnett where he like buys that you know, million dollar black crows, that's right. Yeah that's right that came out late after I'd done that. But but yeah, basically solves like oh, if Kardashian Adele
46:52
Like whatever Jennifer Aniston or whoever these people are like if they're all into crystals like trust me you know the perfect e-commerce customer a woman in the midwest is going to buy this stuff and it was actually worth some chick named Kinsey.
47:06
Yeah. Can't you know Kenzie and Idaho she wants to fuck the shit out of your rock's yah. Like if you have if you have like a sign that says simplify or I love us your
47:22
You're going to be one of my customers. All right. Ben. What do you say? Where we at? All right. That was mostly for Shawn. This one is mostly for Sam, which is what were the first five? Big boy moves you made at Hampton. The first thing I did was I bet you got to say you
47:38
guys names for people who ask this question, just Joe
47:40
Watkins. Yeah. Joe, Joe Watkins Siesta about Hampton. I don't know about the first five but I didn't buy domain name. It was just Hampton at Hampton dot square space.
47:52
Cam and I sent the link to a bunch of friends and then they sent to a handful of other friends. And then I just reached out tons of people, people would sign up on that page which is just a type form and then I called every single person I interviewed them and and me and Joe Joe did like the back end stuff but I did the front end stuff of like calling all the potential customers and I must have interviewed 100 to 200 people and I was the one that sold and got us the first million dollars of sales. And so I called it I told I would
48:22
A joke and tell Sean my counter look like a zebra. It was just like constant Stripes of like these 30-minute meetings at the 10-minute break 30 minute meetings 10-minute break and I did hundreds of them and I got to a million dollars in sales breaks.
48:35
That's a good question, probably just laid on the couch and think I hate this. And I'm so excited when it will be over one day. Like, I mean, it's really hard work, it's very challenging. And then, another big thing I did was I hired a CEO because very early on I thought. This thing is going to be bigger than I'm. This thing will be exceed my personal capabilities and skill sets very soon, so I should hire a CEO, but getting the first million dollars in sales is what I did for, like, two
49:00
months. I would say, the other thing you did is you, you nailed the
49:04
and at the name, which is
49:08
Just start that's talent, but I think that, you know, a name won't break you but it can make you I think Hampton is a perfect name because you borrowed The Prestige of the actual Hamptons and you hired an agency to do like a nice job with The Branding or whatever. So I think that was
49:24
also that agency I hired was fifteen thousand dollars and basically what I did was I sent them a whole bunch of really old real Rolex ads. And I also said my favorite color is British racing green because because I that's like my eye.
49:38
Yeah, I love that color. It's like a lot of old say, our interpreter also know, it's British racing green. I love like I've had motorcycles in that color. I have all types of like toys in that color. I like that color. I go make it look like an old Rolex, add and make it and use British racing green and that's kind of how it came to
49:54
be and fifteen thousand dollars for you to spend fifteen thousand dollars. Like gift a logical sense of like, is that just nothing for you. Or you just like, let's just say this sweat that last Saturday, I drove
50:07
20 minutes to return.
50:08
A spatula to Target for $7. So yeah. I'm a tightwad.
50:15
It was the kind of guy that licks his finger before you know it. So it goes out of wanted to mention is not a sec. One sec on there.
50:28
It's hilarious. All right, what do we got? All right. Next up is this is from Josh read, who wants to know, what are the three? Most common small, boy boobs.
50:38
Is that you see?
50:39
All right, so we have this phrase. No small boy stuff. Okay, what is small? Boy stuff. All right, the first rule obviously is if you think it might be somewhat loose tough? It is. But besides that, I would say there's the three big ones. The three big buckets are the three W's, waiting whirring and wanting any time you find yourself waiting to do something that you actually want to do. That's a small boy move. That's a small boy mentality. You're focused on the wrong things whirring. Same way we're
51:08
Done. Anyone a lot of good. You got to know how to do worry. I think Sam's worried time is a fantastic framework for that. So, go look up, Sam worry, time and wanting wanting meeting like wanting what other people have. And really like people are happiest when they're grateful meaning they want what they have versus versus, you know, wanting what they don't have. And so I think that if you find yourself in a state of mind you don't want to be in and that small boy, state of mind, it's because you're probably waiting.
51:38
To do the thing. You actually want to do you're worrying about something that might happen. That might be bad or you're wanting something that you don't have that other people have you're being bitter you're being jealous or so on and so forth. So to me the three W's kind of capture, most of the things that are small boy activities,
51:55
Have you ever heard of this phrase? This is, we're going to go a little Sigmund. Freud on your ass, external. Locus, of control. You know what that
52:03
means? I've heard this phrase, many times, and I never have any idea, what this means Locust is a bug. That's where I started and you tell me where to go from there. Yeah, you're totally wrong. But so internal. Locus of control means that, well, let's say an external locus of control. Meaning is mean
52:26
The way that you feel and the position that you are in your life. It's because of everyone else. So, if you have an external, locus of control, you think I am in a bad mood because the traffic is bad, and it's their fault or I am, I'm poor because the, the government won't help me or everyone's out to get me, internal is the opposite, which is I control how I feel and what I do and where I am in life. And so I think that there's a direct correlation between, like, like, what I can.
52:55
Siddur, like a small boy thing of that, internal versus external locus of control. So anything that is when you say, I am the way I am because I choose to be, or I put myself in this position, I think oftentimes that's when you're more on that Spectrum, I think it's better than when you're one of your focus on external. So anything where it's like, I have to wait until this is ready or are or I have to please these types of people or whatever? That's typically, I think a loser mentality.
53:24
Yeah, 100%. I use.
53:25
I was actually telling somebody this yesterday and I was like where do you think the power lives in this scenario? Let's say there's a plant that's not growing.
53:36
Where's the problem? And you know, what do you suspect the problem is? Well, I mean, it could be the soil. All right. So loyal. So it's the environment. That's the reason that that's a plan. Sakura. No, no, maybe it was just a bad seed. So it was kind of like, the genetics of the see that you would blame for the outcome. No, no. It's just not getting enough sunlight because there's other plants blocking it. Oh, so it's others. Its competitors that are taking the finite resource that. You, you can't have
54:05
What is it, what is it that? Where is that, where is the problem? And, and the answer is really. There is no problem. You are the plant, just fucking grow. Like, don't don't blame anything and don'ts, don't feel lacking any one of those areas. Like, you want to be ultimately, you want to be the plant that can grow in any one of those. Any under any conditions from any seed in any soil from with any length, any sunlight in any competition. And so what I find is that I get along least with people who really like over index
54:36
They always blame the soil. It's always the, it's always this City's fault. It's always the school's fault. It's always the environments fault, or people who owe its genetics. I'm fixed it is the way it is. All right. Or oh, it's the competition. They're always taking my things rights. Like those are the people that get along with the least and even in myself when I find myself thinking that way I get along with myself, the least I hate myself the most when I think that way
54:58
see you you didn't know what it meant but you came to the same conclusion that you know, hundreds and view.
55:05
Years worth of psychologists. It, took them to figure it out. So we already
55:08
there, I'm thousands of years of wisdom. I just sort of on an afternoon, if you just come up with a better version myself, then I find the words to describe
55:16
it and use the better analogy. All right, Ben? What do you say? Where are we at? All right, we got an emotional. One ladies gentlemen. Grab your tissues Sam. What is in your opinion? The greatest quality that Sean hasn't shown. Same question. What is the greatest quality of the same? As it's a question from Griffin, Humphrey.
55:35
Griffin. Good question, Sean's greatest quality. If it is a, I feel like I don't want to look you in the eye
55:44
on right now. Just closed his eyes when I close my eyes. It's like,
55:50
it's like, there's a whole ton of ways that I can take this analogy. I'm not
55:53
really puts their palms out like this, and then you're supposed to put your hands in there. Yes, yeah. That's
56:03
weird. You don't like people to be able to do that. Just like,
56:05
Like complement each other and go to the bathroom. I contacted it doesn't exist. We need to said side-by-side
56:14
normal mode, whatever. Go. Yeah, the conversation would you ever notice when you go to the bathroom, it somewhat, even if you're walking to the bathroom together, as soon as the fly goes down, the conversation was tops off. Liner zippers like the off button and then you shake and you go back.
56:35
My goes up. Yeah, you're just back to the conversation,
56:40
that's what this is like, Sean's best attribute is that his attitude is always positive. So I don't think I've ever been able to not that I've done in a purpose. Bob, he's, I've never gotten him rattled and he's very, very, very pleasant. I think Almost 100% of the time. I've never seen him get upset about stuff and that is actually frustrating about it, is that he doesn't get frustrated sometimes.
57:05
But at the same time, I would rather have that because I'm fairly emotional and I get frustrated easily. He never gets frustrated. And so I would say that's his best character. Internal locus of control baby. Yeah, you you control your local mindset. Yeah. It's the locus is inside of you all the time. It never goes outside of you. You have eat, you you it's in you. So I would say that's easily your best. Attribute is the ability to stay.
57:35
Calm and happy, no matter
57:36
what mine for you would be intensity. I think you do a great job cranking the knob up whenever you are into something, I admire that and when I look at all the things that I admire about you, like the way your self actualize in terms of Fitness or the way you built the hustle, or the way you're building Hampton right now. The common denominator is the level of intensity. You bring to it. So I don't think
58:03
There's really anything else. Like it's not like I'm like, oh you know the reason say again is that internal locus of control? It's not like, I'm like Sam's Sam got lucky because of this, he's got people helping him and that's why he's winning or he's just born with some talents that others don't have. It's like I think you just have a better job at crank up the intensity of 12 when it's time to if you're like I'm going to get in shape or like great inject my butt with trt build a home gym, hire hire a personal trainer, hire a coach by the best of
58:33
It meant do the wake up everyday do the program. When I'm doing the workout, I'm pushing myself to my actual Max and then I'm doing this, I'm measuring everything. I'm posting publicly, so I'm ashamed. If I don't do it, you go the full way and it's like the same thing with Hampton. I told you this like I had a very similar idea for a group thing years ago I kind of dabbled with it, tried it created one. Who's actually going pretty well but I was like I sign the object over here got kind of bored decided didn't really think it was the right thing, didn't really see the big picture to see you. Take that same idea.
59:03
And do it at level 12. Intensity is such a gift for me because it's like I get to see a without intensity approach to the same idea and it with intensity approach the same idea and it just shows what the difference is and then like that is the difference and so to me that and I also wrote Sam's got a code any lives by it. I think you're a lot more.
59:25
Honorable then than most and that definitely than me. And so I kind of admire that to what
59:31
code. I don't, I don't view myself as having a code
59:33
necessarily. Do you feel like when you give someone your word that it's done?
59:39
Yeah. It's for
59:39
life. I you feel like that if someone's your friend, they should fight for you and die for you. And any small slight is a like like a loyal stab to the heart.
59:50
I feel like if we're in public and you
59:54
you get in a fight with someone and you throw a punch. Even though it's your fault, he got the bike. Yeah. The the person it is over and then afterwards I'll be like you're an idiot. That was really inappropriate but yeah, I feel I disagree a privately publicly like we die together. Yeah,
1:00:11
I'm sleeping showing up on time, like I'm here, you have a code. I don't even agree with your whole code. I think you're crazy with some things. When you go chase down, people that broke in because you're like, do you broken now? We fight we duel. I'm like, that's yes, it's Sam you should not do that or you're like
1:00:24
This guy's trying to charge me an extra hundred dollars because of whatever know we're taking him to Petty court and like, Sam's not worth it, man. Let it go. So I disagree with your code, but I love that you have a code because I don't think I really have a code to live
1:00:37
by. All right, what do we got? All right, really quick, let me just tell you guys the last questions and you say what you want to do, what you don't. So we got Peter Pan URS, you're paying attention to, we got pros and cons of building public.
1:00:51
Let's do creative one really quick. Yes. Who are the creative? Crater / doors? That's kind of a weird one. Creator / noor's. You are paying attention to and why I like Isaac French
1:01:01
because he's almost the same Creator producer someone who's like creating content. But they're also an entrepreneur, they're building a business around their podcast, or their YouTube, or their Twitter, whatever. That's what it is.
1:01:11
I like Isaac French. I hung out with him. And I was like, why are you so purposeful with everything? You do? He goes. That's just part of our religion. We feel that, like, we just have to be excellent and that's how
1:01:21
A show that God's Great and I was like, oh okay, so like you're not
1:01:25
going to bet against that.
1:01:26
Yeah yeah, I like Jasmine star. There's a serious woman who has ass. She's got a software company. I've met her through Hampton and I've whenever I hang out with her, I feel like I'm gonna cry. Like, she's so intense and she's like, she describes herself as like a Latino woman from, like I think East LA. And she's like, so, like, I'm gonna, like, Crush all these Tech nerds and I love that attitude and I like Jace.
1:01:51
Jana wits and Austin, Reef Jason. Janowitz, runs block Works, a crypto company that just raised some money. I would never bet against them and then Austin Reef. As I've got no Austin, Reef the founder of morning, Brew, do you agree with me? That guy's a straight stone-cold killer, I would never bet against Aziz. I would
1:02:07
never, really oppressive, and actually my opinion of morning Brew because I was friends with you. So same, you know, the Loyalty test, I was friends with you there, for your enemies are my enemies. And when you were doing the hustle, I was like, okay, so who are the other newsletters?
1:02:21
Those are my enemies. Someone go look up their Founders and their on my shit with. And now Austin is a friend. And I actually really think that guy's awesome. And he's super clever, and there's a bunch of people that are like successful, but stupid, he's not one of them, he's smart, he is now, but he's, he's he's real. So he said I give him Mike and he's young, I
1:02:44
always forget this. I think he's only 27 still. I think he'll have north of 100 million dollars before he's 30 years old.
1:02:51
Is my guy and he's got a mean right hook shot. Alright, so my Creator producers I'm looking at, so I try to look at people that are in different bubbles because I think if I just look at other business content creator, entrepreneur people, I will become the, the lame, the lame Twitter thread boy copycat want to be bitch, boy, that's yeah. What I tell myself my head. So where do I go? Look? Instead, I look at craters and other category. So I'll give you a quick example. We had Danny Austin on the Pod recently.
1:03:21
Lee and actually a bunch of people who were listening to it. I saw a bunch of like feedback that was like, oh, this episode wasn't for me. Instagram influencers, who cares? And I was like, you guys are missing the point like, yeah, she's way more sophisticated. Yeah, I was like the goal. There was a good, there was golden nuggets there. So first I subscribe to her content because when you look at what Mommy influencers on Instagram do, it's a whole different style of content that you can kind of Steal ideas from and get inspiration from. That's the first thing. The second thing was every other mom influencer.
1:03:51
Like, oh, my fashion brand is here by my dresses for the summer, by my swimsuits, but whatever the same same, same same, same merch and fashion apparel. She picked an incredible business, which is this scalp care thing. That was perfectly aligned with her story of why she's famous in the first place. And why people connect with her? It's as high margin thing with a. Only a couple of skus doesn't have any of the headaches of fashion. It's a beautiful business and it's crushing doesn't, you know, 40 million dollars last year in Revenue without even, you know, pretty significant without even
1:04:21
Like a lot of AD spend and so to me there was a nugget of gold which is what happens when you align the perfect project selection. That's an example of perfect project, selection paired, with awesome content
1:04:32
creator. What could that business sell for?
1:04:35
That should be a multi-hundred million dollar business, like that should be 150 million dollar business if they just carry on, that is a it's perfect project selection. I look like couldn't admire it more perfectly aligned with her and it's a beautiful business on its own. All right others
1:04:51
That are more in our Niche. So pomp I'm inspired by his level output, the guy's a machine, I'm super weak and inconsistent with output and he is super regimented. Like I think he's ex-military to so like is super like regimented with with output and I'm also interested in how he's like, redefining himself. He's rebranding himself outside of Bitcoin right now and that's something cool to watch. So I want to see what he does and what works, what doesn't there? Tim Ferriss also very different than me. He's Ultra thoughtful about his brand which is the opposite of me. Like he's
1:05:21
He's measured, he's thoughtful, he cites his sources. He is like he does not say yes to a lot of things. He's very picky and choosy he's the opposite of me in every way. So I like to see what he does because I want to like, you know, I want to learn through learn from people with different play Styles and then Steve Bartlett, same thing, he's high style. So everything C, Bartlett does, is cool. I buy a hat, he buys a hat. Mine looks shitty, his looks awesome. You know,
1:05:48
he well, he's also like a 6-1 like
1:05:51
Replicant black guy, I'm eating, of course he
1:05:53
looks awesome. Everything he does is the way he talks is in style the way. His, his patties, British trailers are done in style, his live podcast show. He's got a gospel choir singing as he's talking or some shit like that. I know, I don't understand it but I just know that what this guy does. He does his style. I think this very few people just like, I think is very few people in business who are funny. I think there's very few people in business that have style and so I kind of am looking and watching what they're doing and picking little pieces from their game,
1:06:20
dude.
1:06:21
I always look at Steve McQueen, you know, Steve McQueen has he's like this actor that he's dead now but he called like the king of cool. And I like, look at clothes that of he wore and then everyone wants to dress like him and then you see like on Reddit someone's like oh I tried, I bought the Steve McQueen outfit and you look at them and you're like, oh you look like you look like store-brand Steve McQueen's like, you know, like that I'm good. Sometimes people just look like I look at Brad Pitt and I'll look at his clothes and I like see people trying to dress like him like, dude, you just don't got it. You know what I mean? Like, no matter what I do, I will never
1:06:51
You're the better looking than me, you just you got, you got the bod. That's sometimes that's how I still feel about some of these guys, and, I guess we'll put Steve in the category when you're when you got that body and you got that face, you're that tall. You know, you're gonna look good, no matter
1:07:03
what fair enough.
1:07:05
Here's a really quick one. Someone said they asked a different question, but I'm going to phrase it. They asked one question was phrased differently, which is who do you want to live with Gary vaynerchuk? Elon Musk and mr. Beast, and I wanted to say something, I think they all would be horrible to live with those. All three of those guys.
1:07:21
Could be the worst
1:07:21
roommates. Only like he's will just never be. There actually is the best roommate. The guy who's just got to empty room and you actually gotta you're living in a double, but it's all yours is like, that's that's actually pretty good. Good deal.
1:07:34
I've lived with a handful of Highly Successful People and like hung out with them. I hate going to their house. Their homes are usually a wreck. I hate it. I would Define with her. These
1:07:43
guys Hammer around in this office right now, like people would unsubscribe, the gentleman agreement would be over people.
1:07:51
Like, I never want to hear from this guy. Again, if somebody lives like this, like think of your worst episode of Hoarders. That's currently what my office looks like. It's an absolute mess. That's disgusting to me. How do you live that way? I just do bro. I just do. I don't know. I don't know how I live with myself. Like this is crazy. I don't want to be my own
1:08:10
room. Your your rooms like a mullet man. It looks great like from this angle but you got all this party non-sensitive
1:08:15
back. Well, after I record this, I just leave this room and so I never come back and clean it.
1:08:20
I can't
1:08:21
Stand. That that's filth to me. I would not, I cannot be around that. Is that it are we done? Been did we do want to ask one more? I want to ask one more? Alright, because why not
1:08:30
Kevin Newman. Ask who are the three folks it as MP3, but who are the people that are having the most fun? I love this question. I think about it all the time because you could ask, like, who's the most successful? Who's the smartest? Who's the most popular? I'm interested in having a lot of fun with my life. My only have so much time on this little planet. I want to have fun with it. I want to enjoy.
1:08:51
And so I think this is a great question to ask. I got a couple answers but I would be really curious to hear your. So I think yours would be very different than the Mind does. Amy come to mine off, top of your head,
1:09:01
Rob, Dyrdek,
1:09:02
and say a few more words about that
1:09:05
Rob Dyrdek. When I think of what I want my life to be, it's basically to have a Fantasy Factory. So Rob Dyrdek, by the way, he talked a lot about his wife. Not only is, she seems does she seem awesome former Playmate
1:09:17
model that? Is she seemed awesome. She looks awesome.
1:09:22
Yeah,
1:09:23
no Rob Dyrdek. He I think he has a ton of fun and I think that he I think he used, I like people who view business a little bit like an art instead of like a McKinsey like spreadsheet dork. And I think that this is his art is this is how he expresses himself and I think he has a shitload of fun in the way that he's broke. All he had an episode on Fantasy Factory where he like broke nine World Records or something like that, just cuz I love people who do just dumb stuff, just because it seems fun. So I think Rob Dyrdek is up there you have
1:09:51
Joe Rogan. He seems like he's living his life is.
1:09:53
Okay Joe. All right, what are the five things you most enjoy doing? He's like I love comedy, love you have see, I love talking to smart people and learning new shit. I love hunting, you know? And then he's just like cool. That's my life a built, he integrated his career, his life, and his friends, to be the same thing, like his friends are other Comedians. And and that is like and and you and people that you have see his career.
1:10:21
Here's like well I'll just be the top broadcaster in the UFC, the top podcaster and then I'll be one of the top touring comedians. Like that sounds great. Like they'll make a bunch of money and I'll get to do my art, like that sounds fun. And then any, they drew boundaries, he's like
1:10:35
Yeah, I love the UFC but I'm not traveling to like Senegal for this pay-per-view. Like I only do the one when I go to Dubai like within a two-hour flight of me or that's it. Like that's my rule and I'm just going to do that and I'm okay with not doing the rest and I love that. You said he's not divorce, seems like he's got his head on straight. Like, I really think he's having a lot of fun. I admire that Bill Simmons is kind of same way. He's basically that for sports and then my uncle Vinny, I got to Uncle Vinny who's literally his nickname. That was given to him, was Smiley. So he
1:11:05
Those signatures Vinnie, quote Smiley, and he's just our heal, just fine. It's Miley and like this would happen. We just met in
1:11:13
The Bigs like sir. I don't think you can do that.
1:11:16
I think he's I don't know 70, something years old and if you hear him he's like I'm getting younger every day. He's like I'm so excited. He wakes up at four in the morning, with no alarm because he's so excited about the day and like even though the things he would he's doing like he's like I'm so excited. I'm doing this webinar about multifamily real estate right now it's like it's not
1:11:35
Not what I would enjoy doing and it's not even something that to the outside. Sounds super glamorous. But the point is he exists. He is excited about it. He is having the most fun in his life, like he he wears what he wants, he dresses, what he the way he wants, he talks the way he wants. He does what he wants with this time, he travels away wants and I just feel like that guy, his Joy m is like, you know, permanently stuck on unlike Max. And so I kind of admire that because with Joe Rogan it's easy to say men. Yeah. If I also had
1:12:05
The best podcast and the UFC and all these Hobbies have great friends. Like yeah, I would be having a lot of fun too and my uncle Vinny is a great example because he doesn't have anything that life is the he doesn't have a lifestyle that's like you know some celebrity or something like that and he's having all the fun like now and I think that's great because he's not waiting to achieve all this shit to have fun. He's having it now,
1:12:26
what type of Indian guy has a name of Vinny? Is that a? There's real names but no like Vinyasa
1:12:31
don't even know than and he went Vinnie to like make it more like
1:12:35
Acceptable in America, when he moved here, and then they just were like, brothers, guys, never stop smiling. So, his whole company just called him a smiley. And then, you know, that was like, that was the whole thing.
1:12:45
We named one time in Austin, we had this really bad office that had rats and we Nick and we had them and we nicknamed Vinny and I did he was an Italian guy like and they would come in at night
1:12:57
like oh hey the fat guy, left us some cheese
1:13:02
and that was the name of our office rat was
1:13:05
Eddie video DVD from New York and that's what I think
1:13:09
about. You have any named and office rat or Mouse grinding, have you lived here? Not on that. Right?
1:13:19
All right. QA, this is the easiest stuff ever to talk about it. So maybe we just do this every time now. I know, I Gary vaynerchuk to that. The whole show was asking, Gary Vee, all you have to do is just, like, answered some questions.
1:13:32
Yeah, this is fun. We should do more.
1:13:34
All right, that's the
1:13:34
pod.
1:13:38
I feel like I could rule the world. I know, I could be what I want to be like a day's
1:13:47
travel never looking back.
1:13:53
All right, everyone, that's the end of my first million. However, I've got good news. You see, if you liked this episode, we actually have another podcast. The hustle has another podcast, it's called The Hustle Daily Show to daily podcast. That has everything you need to know about business and Tech and only a few minutes. It's awesome. Our best writers, like Zack Crockett are behind it. It's incredibly fascinating. I listen to it daily so check it out. The hustle Daily Show.
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