00:00

Alright. Now we're ready for part two of the Millia Awards. We've got a bunch of categories like breakout company or product of the year.

Alright. Now we're ready for part two of the Millia Awards. We've got a bunch of categories like breakout company or product of the year.

00:06

The who is the craziest slash most delusional person we met this year,

The who is the craziest slash most delusional person we met this year,

00:11

as well as things like our favorite content, books, podcasts that we consumed. What is the best of the best? And, one of my favorites is unsexy business of the year. So what's a business that on the surface looks maybe boring or it flies under the radar, but actually secretly crushes it. We each share our own. So enjoy part two of the million words.

as well as things like our favorite content, books, podcasts that we consumed. What is the best of the best? And, one of my favorites is unsexy business of the year. So what's a business that on the surface looks maybe boring or it flies under the radar, but actually secretly crushes it. We each share our own. So enjoy part two of the million words.

00:38

Alright. Next category that we have is

Alright. Next category that we have is

00:41

the craziest, most delusional person that you met year. So somebody who is

the craziest, most delusional person that you met year. So somebody who is

00:46

kinda out there, they broke your frame a little bit, and

kinda out there, they broke your frame a little bit, and

00:52

It could be good, delusional, crazy. It could be bad, delusional crazy. There's this is just saying this person thinks way differently than you. And, and they're they're a bit, like, They're living in their own world. And so, this was a tough one for me. I was a tough category. Sam, who did you have? So the easy one was Elon Musk. You guys we already forgot about how Elon and Zuck almost got in a fight. That was hilarious. I think Elon's insane, but I didn't wanna pick him because that's too easy. So I chose This guy named Val, who have met via Hampton, you probably have seen him on Twitter. His name's a so, like, basically Val was under the radar for years and years, mean, he's probably forty five years old. So he just started using Twitter, but he's built a bunch of businesses. He was a Soviet Union,

It could be good, delusional, crazy. It could be bad, delusional crazy. There's this is just saying this person thinks way differently than you. And, and they're they're a bit, like, They're living in their own world. And so, this was a tough one for me. I was a tough category. Sam, who did you have? So the easy one was Elon Musk. You guys we already forgot about how Elon and Zuck almost got in a fight. That was hilarious. I think Elon's insane, but I didn't wanna pick him because that's too easy. So I chose This guy named Val, who have met via Hampton, you probably have seen him on Twitter. His name's a so, like, basically Val was under the radar for years and years, mean, he's probably forty five years old. So he just started using Twitter, but he's built a bunch of businesses. He was a Soviet Union,

01:32

immigrant, came here to America age nineteen built a business that made ten million dollars in profit in year one. I started hanging out with him. And now he's got this massive

immigrant, came here to America age nineteen built a business that made ten million dollars in profit in year one. I started hanging out with him. And now he's got this massive

01:41

set of businesses that probably do, like, a hundred and fifty or two hundred million dollars a year in revenue that he owns. He's never raised money for any of them. I invested in when I met him, I invested into one of his real estate deals, and he was new to it. And I got a great return. And so I did another one with him. When I started talking to him, and he's like, yeah, we own this many tens of millions of dollars of Brooklyn real estate. And I was like, Val, what the hell? How'd you figure out how to do this? He goes, well, I just did the math, and I did this, and I did this. And he was so logical and yet so calm about it, and he was comfortable with the wrist. So I gotta give love to Val. And here's a fun fact about him. I started talking to him even more. He wakes up at four AM, and he starts working at three PM, and basically works until four AM. And that's his life. And I'm, like, there's so many reasons why that's bad. And he was calmly just saying, like, yeah, but it works for me. And he's got five kids. I love people that got tons of kids. So this guy is the best. He seems like a good dad, a good husband, But he does crazy business stuff. Just absolutely crazy, but he's so calm about it. So he's one of the craziest people that I've ever met. Andrew, wanna go next?

set of businesses that probably do, like, a hundred and fifty or two hundred million dollars a year in revenue that he owns. He's never raised money for any of them. I invested in when I met him, I invested into one of his real estate deals, and he was new to it. And I got a great return. And so I did another one with him. When I started talking to him, and he's like, yeah, we own this many tens of millions of dollars of Brooklyn real estate. And I was like, Val, what the hell? How'd you figure out how to do this? He goes, well, I just did the math, and I did this, and I did this. And he was so logical and yet so calm about it, and he was comfortable with the wrist. So I gotta give love to Val. And here's a fun fact about him. I started talking to him even more. He wakes up at four AM, and he starts working at three PM, and basically works until four AM. And that's his life. And I'm, like, there's so many reasons why that's bad. And he was calmly just saying, like, yeah, but it works for me. And he's got five kids. I love people that got tons of kids. So this guy is the best. He seems like a good dad, a good husband, But he does crazy business stuff. Just absolutely crazy, but he's so calm about it. So he's one of the craziest people that I've ever met. Andrew, wanna go next?

02:39

Sure. So I actually struggled.

Sure. So I actually struggled.

02:41

I think I said Brian Johnson. He was the person that comes to mind.

I think I said Brian Johnson. He was the person that comes to mind.

02:45

He really, really nice interesting guy, but definitely crazy all the health stuff he's doing. Elon Musk is another obvious answer, but I actually couldn't think of somebody that

He really, really nice interesting guy, but definitely crazy all the health stuff he's doing. Elon Musk is another obvious answer, but I actually couldn't think of somebody that

02:54

was crazy. And so I actually inverted it. I said, who is the sameest,

was crazy. And so I actually inverted it. I said, who is the sameest,

02:59

most boring person? And Chris and I got to meet Michael Del this

most boring person? And Chris and I got to meet Michael Del this

03:03

year. And Michael Dell is worth sixty five billion dollars. That's insane. And we sat down with him. I'm I'm going like, okay. I'm gonna crack this guy open by, like, You read his book. It's all very tame. His public persona is very, like, you know, serious and calm and nice and all that kind of stuff. His his book is literally called play nice, but win. And so

year. And Michael Dell is worth sixty five billion dollars. That's insane. And we sat down with him. I'm I'm going like, okay. I'm gonna crack this guy open by, like, You read his book. It's all very tame. His public persona is very, like, you know, serious and calm and nice and all that kind of stuff. His his book is literally called play nice, but win. And so

03:24

me and Chris, we go into this work office. You know, he's gonna shoot.

me and Chris, we go into this work office. You know, he's gonna shoot.

03:31

Sorry. Go ahead. So so we go into this this huge gray, like office park. We're in this boardroom. Eddie sits down with us. And Chris and I just walked away. We were, like, oh my god. He's, like, the I can't believe it's not butter of billionaires. Like, he's just, like, steady, eddy, super nice, And we're asking, we're like, dude, what do you do with your money? Like, you know, have you gone, like, have you, you know, dealing twenty houses? Do you own, you know, a bunch of planes? Do you do anything crazy? And he's like, nope. I just love, you know, operating my business

Sorry. Go ahead. So so we go into this this huge gray, like office park. We're in this boardroom. Eddie sits down with us. And Chris and I just walked away. We were, like, oh my god. He's, like, the I can't believe it's not butter of billionaires. Like, he's just, like, steady, eddy, super nice, And we're asking, we're like, dude, what do you do with your money? Like, you know, have you gone, like, have you, you know, dealing twenty houses? Do you own, you know, a bunch of planes? Do you do anything crazy? And he's like, nope. I just love, you know, operating my business

04:01

and, growing it over time.

and, growing it over time.

04:04

I own two dice. I think he owns two nice or three nice houses. Obviously, they're very, very nice houses. One plane. And that was it. We couldn't get anything out of him. And he told us this anecdote. This is how much of a baller he is. He goes, Yeah. So,

I own two dice. I think he owns two nice or three nice houses. Obviously, they're very, very nice houses. One plane. And that was it. We couldn't get anything out of him. And he told us this anecdote. This is how much of a baller he is. He goes, Yeah. So,

04:16

about twenty years ago, I took two hundred million, and I started a family office. And in the family office, I wanted to make, click a ten percent return. And so I hired these really smart guys, and they started doing private credit. And I don't know if you guys know what that is, but usually it's

about twenty years ago, I took two hundred million, and I started a family office. And in the family office, I wanted to make, click a ten percent return. And so I hired these really smart guys, and they started doing private credit. And I don't know if you guys know what that is, but usually it's

04:32

lending to people that the bank won't lend to. So it's higher risk,

lending to people that the bank won't lend to. So it's higher risk,

04:37

lending. And one of the people he led to was a I think a billionaire who owned a hockey team, I think in Dallas or something. When when you were saying that, I just I was thinking of, like, your cousin, Dom, on the street who's, like, gonna go buy, like, a rookie Lebron card and flip it. I guess Right. Totally.

lending. And one of the people he led to was a I think a billionaire who owned a hockey team, I think in Dallas or something. When when you were saying that, I just I was thinking of, like, your cousin, Dom, on the street who's, like, gonna go buy, like, a rookie Lebron card and flip it. I guess Right. Totally.

04:53

So he goes, he goes, Yeah. And then one day, I just got a call and, they said, well, you own the Dallas Stars now. I think it was the Dallas Stars, but some professional sports team And he had just literally just owned it because he had lent the guy money and the guy defaulted. Like, that's how much of a baller Michael Bell is. Dude, he totally s b after ass. He Elizabeth Holmes you. I bet you, my fidelity is just way more vases. Basement, dude. No. Basements got something crazy in it. This guy is lying to you. Michael Dell is in order to get there, Andrew, you would know more than me, but in order to get there, you have to be the shariest of all sharks.

So he goes, he goes, Yeah. And then one day, I just got a call and, they said, well, you own the Dallas Stars now. I think it was the Dallas Stars, but some professional sports team And he had just literally just owned it because he had lent the guy money and the guy defaulted. Like, that's how much of a baller Michael Bell is. Dude, he totally s b after ass. He Elizabeth Holmes you. I bet you, my fidelity is just way more vases. Basement, dude. No. Basements got something crazy in it. This guy is lying to you. Michael Dell is in order to get there, Andrew, you would know more than me, but in order to get there, you have to be the shariest of all sharks.

05:29

I don't I don't agree with that. What? There is I think you have to be you have to be very aggressive, but I do think you can You can be a you have if you have to be a wacko, right? You have to go you have to be a maniac. You have to go extreme,

I don't I don't agree with that. What? There is I think you have to be you have to be very aggressive, but I do think you can You can be a you have if you have to be a wacko, right? You have to go you have to be a maniac. You have to go extreme,

05:42

but I think you could be nice.

but I think you could be nice.

05:45

I can't find this client info. Have you heard of HubSpot?

I can't find this client info. Have you heard of HubSpot?

05:48

HubSpot is a CRM platform, so it shares its data across every application. Every team can stay aligned. No out of sync spreadsheets or dueling databases. HubSpot, grow better.

HubSpot is a CRM platform, so it shares its data across every application. Every team can stay aligned. No out of sync spreadsheets or dueling databases. HubSpot, grow better.

06:01

Dude, have you ever used a Dell computer? A Dell computer is the technology equivalent of what you just described. It's like the, the most can't believe it's not butter of computers. That that that, by the way, I don't even know what that analogy means,

Dude, have you ever used a Dell computer? A Dell computer is the technology equivalent of what you just described. It's like the, the most can't believe it's not butter of computers. That that that, by the way, I don't even know what that analogy means,

06:13

but I Yeah. Chris said it. It just made sense when he what he said. It's kind of an insult, I think. Right?

but I Yeah. Chris said it. It just made sense when he what he said. It's kind of an insult, I think. Right?

06:19

No. It's, like, he's just, like, he's straightforward. You know? It's it's like saying someone is, you know, they're the missionary position of, of lending. And it's, like, Exactly. Just diss me. It's like, no. Missionary's great. Everybody loves you. Right? And it's like, yeah. But you don't wanna be called missionary.

No. It's, like, he's just, like, he's straightforward. You know? It's it's like saying someone is, you know, they're the missionary position of, of lending. And it's, like, Exactly. Just diss me. It's like, no. Missionary's great. Everybody loves you. Right? And it's like, yeah. But you don't wanna be called missionary.

06:36

He's the dad jeans of billionaires.

He's the dad jeans of billionaires.

06:38

Sean, what's yours? Like nicest guy ever. Yeah. Right, dude. No. No. I swear to god. Right when you walked out the he was probably just like Here's how I know. Here's how I know. You can always tell whether someone's like a psycho or scary based on how their employees talk about them. Right? Their employees love him. They gush about him. They're he's so nice. He was so respectful that everyone, someone came in and brought water to him. He looked them in the eye and said, thank you.

Sean, what's yours? Like nicest guy ever. Yeah. Right, dude. No. No. I swear to god. Right when you walked out the he was probably just like Here's how I know. Here's how I know. You can always tell whether someone's like a psycho or scary based on how their employees talk about them. Right? Their employees love him. They gush about him. They're he's so nice. He was so respectful that everyone, someone came in and brought water to him. He looked them in the eye and said, thank you.

07:03

Like, he is a nice guy.

Like, he is a nice guy.

07:06

Well, a profound story. You just told me that was amazing. I thought that was gonna be something crazy.

Well, a profound story. You just told me that was amazing. I thought that was gonna be something crazy.

07:13

So this was kinda tough, but then I realized I had an answer. So I did a call the other day with a guy. Ben was like, you gotta meet this guy. I met him at a brunch

So this was kinda tough, but then I realized I had an answer. So I did a call the other day with a guy. Ben was like, you gotta meet this guy. I met him at a brunch

07:21

And Ben's thing is he always says, this guy's got the juice.

And Ben's thing is he always says, this guy's got the juice.

07:24

I was like, he's got the juice. He goes, this guy's overflowing with the juice. I was like, alright. I gotta meet this get on a call. You don't seem like a brunch guy. What were you doing? I wasn't at the brunch. Ben was at the brunch. Oh, so

I was like, he's got the juice. He goes, this guy's overflowing with the juice. I was like, alright. I gotta meet this get on a call. You don't seem like a brunch guy. What were you doing? I wasn't at the brunch. Ben was at the brunch. Oh, so

07:35

you know, like, in when people used to fight back in the day and they'd be like, I nominate my second to fight for me. That's bad. Ben, the the this is all the fighting. He gets out in the rural order meets people. So anyways, he, he's, like, he gotta meet the guys. We get on a call. And the guy's, like, he starts talking and immediately I love him. Why? Because I love the Middle Eastern accent. Anyone who's, like, Persian,

you know, like, in when people used to fight back in the day and they'd be like, I nominate my second to fight for me. That's bad. Ben, the the this is all the fighting. He gets out in the rural order meets people. So anyways, he, he's, like, he gotta meet the guys. We get on a call. And the guy's, like, he starts talking and immediately I love him. Why? Because I love the Middle Eastern accent. Anyone who's, like, Persian,

07:56

Iranian, my friend, they have, like, oh my god. I look, like, They could tell me any story. They could tell me that same Michael Del story, and I would've felt like it's an HBO documentary. Like, it's so good to me. So anyways, he he's got the accent. Point one. Point two. He goes, love your podcast.

Iranian, my friend, they have, like, oh my god. I look, like, They could tell me any story. They could tell me that same Michael Del story, and I would've felt like it's an HBO documentary. Like, it's so good to me. So anyways, he he's got the accent. Point one. Point two. He goes, love your podcast.

08:11

Look, look, I have a podcast today. He holds up these headphones. He goes, me and my wife, we get high, and then we record it. And I was like, okay. Alright. And then he's like, that's just how we started. We hadn't even said anything yet. He's like, I'm like, so what do you work on? And he's like, I

Look, look, I have a podcast today. He holds up these headphones. He goes, me and my wife, we get high, and then we record it. And I was like, okay. Alright. And then he's like, that's just how we started. We hadn't even said anything yet. He's like, I'm like, so what do you work on? And he's like, I

08:27

he's like American food is shit.

he's like American food is shit.

08:29

And I'm like, I think I agree, but okay. Where are you coming from with this? And he's like, I, I was like, I'm a super smart guy. I sold my last company. He decided I was like, I went back to Turkey where I'm from And I ate a banana. And I was like, this is what food is supposed to taste like. So he's like, I realized I can use AI,

And I'm like, I think I agree, but okay. Where are you coming from with this? And he's like, I, I was like, I'm a super smart guy. I sold my last company. He decided I was like, I went back to Turkey where I'm from And I ate a banana. And I was like, this is what food is supposed to taste like. So he's like, I realized I can use AI,

08:48

to grow better crops. Like, I can literally grow better food.

to grow better crops. Like, I can literally grow better food.

08:51

If I take everything in machine learning, he's like, I trained a data set. On all, like, scientific papers. I scraped all the scientific papers from, like, the journals, and I trained a g version of GPT only on that. And I try to figure out what can I do to get more minerals in the soil so that American food, which is, like, it's the same food? It's a banana, but it tastes bad, and it doesn't it doesn't taste, like, as rich as it does in other places. And it's, like, deficient in all these minerals. And so he's, like, I'm gonna,

If I take everything in machine learning, he's like, I trained a data set. On all, like, scientific papers. I scraped all the scientific papers from, like, the journals, and I trained a g version of GPT only on that. And I try to figure out what can I do to get more minerals in the soil so that American food, which is, like, it's the same food? It's a banana, but it tastes bad, and it doesn't it doesn't taste, like, as rich as it does in other places. And it's, like, deficient in all these minerals. And so he's, like, I'm gonna,

09:19

grow more mineral rich rich food. He's, like, I have the best He's like, you like dried berries? I was like, I kinda love dried berries, to be honest with you. And he's like, I'm gonna send you dried berries right now. He's like, these are the best berries you ever had. And he's like, one serving of this is sixty percent of your daily vitamin c intake.

grow more mineral rich rich food. He's, like, I have the best He's like, you like dried berries? I was like, I kinda love dried berries, to be honest with you. And he's like, I'm gonna send you dried berries right now. He's like, these are the best berries you ever had. And he's like, one serving of this is sixty percent of your daily vitamin c intake.

09:35

And I have, like, we buy whole foods. Whatever you go look at that, it'll be, like, five percent. Like, it's, like, nothing. He's like, no. No. This is sixty percent. And he's like, we grow it without soil. And I'm like, I don't even understand what that means, but, okay.

And I have, like, we buy whole foods. Whatever you go look at that, it'll be, like, five percent. Like, it's, like, nothing. He's like, no. No. This is sixty percent. And he's like, we grow it without soil. And I'm like, I don't even understand what that means, but, okay.

09:45

He sends me these berries My kids are obsessed with them. They taste so goddamn good. And I'm like, you know, getting all these minerals. So I'm like, this guy actually might not be full of shit.

He sends me these berries My kids are obsessed with them. They taste so goddamn good. And I'm like, you know, getting all these minerals. So I'm like, this guy actually might not be full of shit.

09:55

Then he's like, I'm like, okay. What's is that, like, your main thing? He's like, yeah, it's that. He's like, but I also love to give back. He's like, you know, I immigrated here. It really changed my life. He's like, so I'm gonna bring ten thousand Turkish engineers to America, engineers and lawyers.

Then he's like, I'm like, okay. What's is that, like, your main thing? He's like, yeah, it's that. He's like, but I also love to give back. He's like, you know, I immigrated here. It really changed my life. He's like, so I'm gonna bring ten thousand Turkish engineers to America, engineers and lawyers.

10:10

And I was like, what? He's like, yeah, my business plan is I'm gonna bring ten thousand engineers and ten thousand lawyers to America from Turkey. And for those people in Turkey, it's gonna change their life. And for America, you're gonna get high, you know, super smart talent that's gonna come here and work.

And I was like, what? He's like, yeah, my business plan is I'm gonna bring ten thousand engineers and ten thousand lawyers to America from Turkey. And for those people in Turkey, it's gonna change their life. And for America, you're gonna get high, you know, super smart talent that's gonna come here and work.

10:24

And I was like, how why is that your goal? And how do you even do that? And he's like, basically, had figured out an entire, like,

And I was like, how why is that your goal? And how do you even do that? And he's like, basically, had figured out an entire, like,

10:31

by the book way to get people visas systematically

by the book way to get people visas systematically

10:34

and programmatically,

and programmatically,

10:36

he's like and he created a model where he's like, basically, he he brings you over, and you have any little income share. So you're gonna start making a hundred k plus a year

he's like and he created a model where he's like, basically, he he brings you over, and you have any little income share. So you're gonna start making a hundred k plus a year

10:45

as a lawyer or, or an engineer, he takes the income share of that. He invests it in bringing the next engineer over. He's like, I basically have to fund ten of these guys. If I fund ten, I can get to ten thousand.

as a lawyer or, or an engineer, he takes the income share of that. He invests it in bringing the next engineer over. He's like, I basically have to fund ten of these guys. If I fund ten, I can get to ten thousand.

10:56

And I was like, this guy is thinking on a totally different wavelength.

And I was like, this guy is thinking on a totally different wavelength.

11:00

The way he worked out this this plan I thought was great. His overall energy was great, and he was

The way he worked out this this plan I thought was great. His overall energy was great, and he was

11:05

not just working differently than most people are thinking differently. Just works on different things than anybody I know. Like, I don't know anyone that's trying to grow, like, mineral rich berries and bring ten thousand people immigrants into the country. Like, that's what this guy's game plan was. By the way, I gotta share you share with you guys a funny conversation I had. I shared it with Sean, and I'll and I'll read it here. But, basically,

not just working differently than most people are thinking differently. Just works on different things than anybody I know. Like, I don't know anyone that's trying to grow, like, mineral rich berries and bring ten thousand people immigrants into the country. Like, that's what this guy's game plan was. By the way, I gotta share you share with you guys a funny conversation I had. I shared it with Sean, and I'll and I'll read it here. But, basically,

11:25

I didn't wanna bring this guy up because I've talked about him so much and I get made fun of, but I invested in this guy this guy's company named Brett Adcock. He's like my my I have a man crush on him. He's got this robot company. He sent me a picture of, like, the robots and how they're, like, moving, and it's amazing.

I didn't wanna bring this guy up because I've talked about him so much and I get made fun of, but I invested in this guy this guy's company named Brett Adcock. He's like my my I have a man crush on him. He's got this robot company. He sent me a picture of, like, the robots and how they're, like, moving, and it's amazing.

11:39

And, I was like, wow, that's amazing. You've done all this stuff in eighteen months. And, you've not raised a lot of money. Is this like a business that you can, like, not raise a lot of money for, and you can, own a lot of it And his response is a perfect example of why crazy people exist and how I'm just absolutely not one of them. He says, well, this is verbatim.

And, I was like, wow, that's amazing. You've done all this stuff in eighteen months. And, you've not raised a lot of money. Is this like a business that you can, like, not raise a lot of money for, and you can, own a lot of it And his response is a perfect example of why crazy people exist and how I'm just absolutely not one of them. He says, well, this is verbatim.

11:59

Well, it's gonna cost a little under a trillion dollars to ship ten billion robots. So I don't think it'll work without raising.

Well, it's gonna cost a little under a trillion dollars to ship ten billion robots. So I don't think it'll work without raising.

12:08

And I was like, yeah. Fuck me. Right? Like, what do I do?

And I was like, yeah. Fuck me. Right? Like, what do I do?

12:12

I'm gonna go tweet. I'll be r PRB. You're basically with this guy's building AA robots and you you asked him the equivalent of, like, hey, if you thought about just doing a newsletter about it instead,

I'm gonna go tweet. I'll be r PRB. You're basically with this guy's building AA robots and you you asked him the equivalent of, like, hey, if you thought about just doing a newsletter about it instead,

12:23

you're like, you could just bootstrap this and not raise any money? He's like, I need a trillion dollars. I felt like such a little bitch when he said that. I was like, yeah. Yeah. You're you're you're right.

you're like, you could just bootstrap this and not raise any money? He's like, I need a trillion dollars. I felt like such a little bitch when he said that. I was like, yeah. Yeah. You're you're you're right.

12:34

Alright. What about best and worst investments for the year?

Alright. What about best and worst investments for the year?

12:38

Yeah. This is my favorite category.

Yeah. This is my favorite category.

12:40

Andrew, you've had the best stories in this. I think you have the most you're probably the most prolific investor that comes on this pod. So can you give us yours? Give us your best and worst.

Andrew, you've had the best stories in this. I think you have the most you're probably the most prolific investor that comes on this pod. So can you give us yours? Give us your best and worst.

12:50

So,

So,

12:51

yeah, my best was I I was in New Zealand. I've been working on getting my New Zealand citizenship for the last.

yeah, my best was I I was in New Zealand. I've been working on getting my New Zealand citizenship for the last.

12:58

Two years or so. And so I had this yeah. Yeah. They have this.

Two years or so. And so I had this yeah. Yeah. They have this.

13:03

There's this as part of the program, there's this mandatory conference

There's this as part of the program, there's this mandatory conference

13:06

that I had to go to. And I was absolutely driving it. I had been traveling a whole bunch, but I've I, you know, I gotta go. I had to go. And I was thinking about it and going, okay. Well, who do I know in Auckland, New Zealand? And I realized I'd met this guy, Matt Buchanan, about ten years ago at south by southwest, here at random,

that I had to go to. And I was absolutely driving it. I had been traveling a whole bunch, but I've I, you know, I gotta go. I had to go. And I was thinking about it and going, okay. Well, who do I know in Auckland, New Zealand? And I realized I'd met this guy, Matt Buchanan, about ten years ago at south by southwest, here at random,

13:24

design agency at the time. And he had started this website called LetterBox. Do you guys know what LetterBox is?

design agency at the time. And he had started this website called LetterBox. Do you guys know what LetterBox is?

13:31

Yeah. It's like a movie thing. What is it? So social network for film buffs. And it started out really, really small. It was just like, you know, hundreds of people at first just discussing films,

Yeah. It's like a movie thing. What is it? So social network for film buffs. And it started out really, really small. It was just like, you know, hundreds of people at first just discussing films,

13:42

And then over time, and especially over COVID, it had grown like crazy. And so Matt and I met up for coffee.

And then over time, and especially over COVID, it had grown like crazy. And so Matt and I met up for coffee.

13:47

And, I just asked him about, you know, how everything was going. I wasn't at all thinking about investing or buying it, and he started telling me that they had ten million registered users that it had grown like crazy.

And, I just asked him about, you know, how everything was going. I wasn't at all thinking about investing or buying it, and he started telling me that they had ten million registered users that it had grown like crazy.

14:00

And at the end of the coffee, I literally just blurted out. Do you wanna sell?

And at the end of the coffee, I literally just blurted out. Do you wanna sell?

14:05

And he was like, well,

And he was like, well,

14:07

I hadn't really even thought about that.

I hadn't really even thought about that.

14:09

And I was like, throw me at the craziest number you can think of. And so he threw the number out. And I said, okay. And I sent him an offer within forty eight hours. And we just bought that business. We didn't buy all of it. We bought it. I think sixty percent of it.

And I was like, throw me at the craziest number you can think of. And so he threw the number out. And I said, okay. And I sent him an offer within forty eight hours. And we just bought that business. We didn't buy all of it. We bought it. I think sixty percent of it.

14:22

About three months ago. Did you buy it for the number he said?

About three months ago. Did you buy it for the number he said?

14:27

Yeah. The valuation, I think I think it worked out to about sixty million dollar valuation, something like that. And it was three guys?

Yeah. The valuation, I think I think it worked out to about sixty million dollar valuation, something like that. And it was three guys?

14:34

Yeah. No. It was about I think there's about ten ten or so employees, all in New Zealand. So totally bootstrapped,

Yeah. No. It was about I think there's about ten ten or so employees, all in New Zealand. So totally bootstrapped,

14:41

New Zealand based,

New Zealand based,

14:43

designer and developer

designer and developer

14:44

started it like incredible business. They're gonna keep running it. But,

started it like incredible business. They're gonna keep running it. But,

14:49

it's it's an example of, you know, we bought a business called Dribble about eight years ago,

it's it's an example of, you know, we bought a business called Dribble about eight years ago,

14:54

which is a social network. And social networks are just incredible

which is a social network. And social networks are just incredible

14:57

businesses. I call them, like, airports. You know, if you own the airport, you can put a you can you've got this group of people that's gonna congregate there

businesses. I call them, like, airports. You know, if you own the airport, you can put a you can you've got this group of people that's gonna congregate there

15:05

on a consistent schedule. And you can sell them, you know, all sorts of stuff. You can sell them a book. You can sell them a hotdog. You can sell them a massage. And as long as you don't mess with them, and you keep the community happy,

on a consistent schedule. And you can sell them, you know, all sorts of stuff. You can sell them a book. You can sell them a hotdog. You can sell them a massage. And as long as you don't mess with them, and you keep the community happy,

15:16

you know, you can do some incredible stuff. So I'm,

you know, you can do some incredible stuff. So I'm,

15:19

I'm super excited about that Did this is your in

I'm super excited about that Did this is your in

15:23

for, for Zuck. You can go back to Zuck. Hey, Mark. I told you it was a good idea. Social oh, social network owner.

for, for Zuck. You can go back to Zuck. Hey, Mark. I told you it was a good idea. Social oh, social network owner.

15:30

One. I got two, but who's counting.

One. I got two, but who's counting.

15:32

Happy to meet. I finally got my end. Yeah. You guys can start your own little Facebook group of social media. Of course.

Happy to meet. I finally got my end. Yeah. You guys can start your own little Facebook group of social media. Of course.

15:39

Yeah. Social media owners, and your best one last year was Girl boss. Your worst one last year was venture capital in general. What's your worst one this year?

Yeah. Social media owners, and your best one last year was Girl boss. Your worst one last year was venture capital in general. What's your worst one this year?

15:48

So my worst one this year, it was an investment I made about five years ago. And it's a great example of shiny object syndrome,

So my worst one this year, it was an investment I made about five years ago. And it's a great example of shiny object syndrome,

15:56

lack of focus and what I call a money bond fire. So I bought a podcast player called Castro about five years ago,

lack of focus and what I call a money bond fire. So I bought a podcast player called Castro about five years ago,

16:04

And at the time, I was really hopped up about,

And at the time, I was really hopped up about,

16:08

podcasts and subscription podcasting.

podcasts and subscription podcasting.

16:10

And, the, you know, it was around the time I started coming on MFM, actually.

And, the, you know, it was around the time I started coming on MFM, actually.

16:14

And I bought the business because I was excited about the space, not because I had a plan. And so the business basically

And I bought the business because I was excited about the space, not because I had a plan. And so the business basically

16:23

just language. The founders

just language. The founders

16:25

left.

left.

16:26

I couldn't find anyone,

I couldn't find anyone,

16:28

you know, the we couldn't find the right person to run it. And just every month, I, you know, I I think I bought it for a million bucks, and it just lost

you know, the we couldn't find the right person to run it. And just every month, I, you know, I I think I bought it for a million bucks, and it just lost

16:37

ten to twenty k a month. And it was a small enough number that blended into all my other stuff. I just didn't really notice it. It wasn't like an urgent thing. And so this tiny little ember

ten to twenty k a month. And it was a small enough number that blended into all my other stuff. I just didn't really notice it. It wasn't like an urgent thing. And so this tiny little ember

16:48

turned into a money bond fire. And so I think I lost two million dollars or something over the last five years on this business.

turned into a money bond fire. And so I think I lost two million dollars or something over the last five years on this business.

16:56

And now I'm in the process of selling it. But Anyone want it?

And now I'm in the process of selling it. But Anyone want it?

17:00

Yeah. Good. It's you too. Would like a money bomb. Maybe maybe maybe someone who wants to get into podcasting

Yeah. Good. It's you too. Would like a money bomb. Maybe maybe maybe someone who wants to get into podcasting

17:05

But, anyway, it is it is one of those things where, I've done this so many times where I start something and it's a runaway train. And I I just don't get the right people in, and it just slowly burns money. Dude, unless you're like a Hebrewman or or, you know, a host like us, I think podcasting could be good. I think podcasting as, like, venture capital companies mostly is shit. It's a very hard business, I think, to build tools for. We get pitched all the time on, like, people who are trying to make podcasts more discoverable or this or that. It's a hard business. That's a hard industry. Yeah. Yeah. A hundred percent. Sam, what you got best and worst investment of the year. Alright.

But, anyway, it is it is one of those things where, I've done this so many times where I start something and it's a runaway train. And I I just don't get the right people in, and it just slowly burns money. Dude, unless you're like a Hebrewman or or, you know, a host like us, I think podcasting could be good. I think podcasting as, like, venture capital companies mostly is shit. It's a very hard business, I think, to build tools for. We get pitched all the time on, like, people who are trying to make podcasts more discoverable or this or that. It's a hard business. That's a hard industry. Yeah. Yeah. A hundred percent. Sam, what you got best and worst investment of the year. Alright.

17:40

I don't remember what I what did I say last year for best? Do you know, did it say? So,

I don't remember what I what did I say last year for best? Do you know, did it say? So,

17:45

tell me that in a second. But, alright, my best investment

tell me that in a second. But, alright, my best investment

17:47

Man, I one weekend, I was talking to my wife. I was like, hey, we're gonna have kids one day. Do you wanna keep working or what do you wanna do? And she was kinda telling me, and I was like, Well, I'll tell you what, to make your decision a little bit easier, I've got this idea for a little copywriting thing. I'm just gonna put it together because it's fun and it's how I taught my team how to write and I learned how to write. I'm just gonna do this for fun. And if it works, maybe one day you'll wanna quit your job and run this. Turns out she doesn't want to, but I made it anyway.

Man, I one weekend, I was talking to my wife. I was like, hey, we're gonna have kids one day. Do you wanna keep working or what do you wanna do? And she was kinda telling me, and I was like, Well, I'll tell you what, to make your decision a little bit easier, I've got this idea for a little copywriting thing. I'm just gonna put it together because it's fun and it's how I taught my team how to write and I learned how to write. I'm just gonna do this for fun. And if it works, maybe one day you'll wanna quit your job and run this. Turns out she doesn't want to, but I made it anyway.

18:12

Yeah. So it didn't work. Now I run this. Yeah. So I made this thing called copy that dot com. It I just did it for fun. I did it over the weekend, and

Yeah. So it didn't work. Now I run this. Yeah. So I made this thing called copy that dot com. It I just did it for fun. I did it over the weekend, and

18:21

that one little thing that I made it pays for my living expenses.

that one little thing that I made it pays for my living expenses.

18:25

I I I don't really do much for it. I don't do anything for it, and it pays for my living expenses. And and for some reason, like, some of my other things, like this podcast or,

I I I don't really do much for it. I don't do anything for it, and it pays for my living expenses. And and for some reason, like, some of my other things, like this podcast or,

18:36

Hampton, like, when things get a little bit bigger, you can't really deviate or move quickly. And I just use this and and also I have partners. So I've got, like, Sean's my partner in this podcast. And then with Hampton, I have a business partner, and I've customers and things like that. I can't really do what I want all the time just like on a whim. And so I use this as, like, a little bit of of a playground to do whatever the hell I want. And it's been fun. And so I've really enjoyed it. My worst investment. So so far, Sean, I've invested about

Hampton, like, when things get a little bit bigger, you can't really deviate or move quickly. And I just use this and and also I have partners. So I've got, like, Sean's my partner in this podcast. And then with Hampton, I have a business partner, and I've customers and things like that. I can't really do what I want all the time just like on a whim. And so I use this as, like, a little bit of of a playground to do whatever the hell I want. And it's been fun. And so I've really enjoyed it. My worst investment. So so far, Sean, I've invested about

19:03

a million dollars into companies via angel investing.

a million dollars into companies via angel investing.

19:09

I have seen not one dollar back since I started doing it in two thousand and sixteen. I've got a lot of markup that that one million dollars is maybe worth five million dollars on paper, but paper don't pay my mortgage, at least not this type of paper. And, I

I have seen not one dollar back since I started doing it in two thousand and sixteen. I've got a lot of markup that that one million dollars is maybe worth five million dollars on paper, but paper don't pay my mortgage, at least not this type of paper. And, I

19:24

it's pissed me off because I knew what it was going into it, and I just don't like having to have the patience or not having any involvement. And so that's probably been my worst so far. I don't think it's gonna be worse in terms of ROI, but I think it's worse in terms of I just don't enjoy it. You know, what's interesting is I've got a friend.

it's pissed me off because I knew what it was going into it, and I just don't like having to have the patience or not having any involvement. And so that's probably been my worst so far. I don't think it's gonna be worse in terms of ROI, but I think it's worse in terms of I just don't enjoy it. You know, what's interesting is I've got a friend.

19:43

He's an angel investor,

He's an angel investor,

19:45

and

and

19:46

he sold his company like you. And he said I've always wanted to be an angel investor. And so invested in,

he sold his company like you. And he said I've always wanted to be an angel investor. And so invested in,

19:53

five companies, and two of them paid him back ten x within two years. And so he learned the wrong lesson. Right? Because that's not most people's experience. Then he doubled down on Angel investing for five years, didn't see a single return for ten years. And so I think it's like anything. If you try something the first time, and it gives you a win. You love it. Like, I guarantee you if you have already gotten two million dollars back, you'd be like, I love Angel investing. It's the best. Right? But What you've really done is you've gone into the casino and gambled. Maybe with, like, a slight edge, but you're really gambling. And I I feel the exact same way. I have barely seen any money back. Have you seen any money back, Andrew?

five companies, and two of them paid him back ten x within two years. And so he learned the wrong lesson. Right? Because that's not most people's experience. Then he doubled down on Angel investing for five years, didn't see a single return for ten years. And so I think it's like anything. If you try something the first time, and it gives you a win. You love it. Like, I guarantee you if you have already gotten two million dollars back, you'd be like, I love Angel investing. It's the best. Right? But What you've really done is you've gone into the casino and gambled. Maybe with, like, a slight edge, but you're really gambling. And I I feel the exact same way. I have barely seen any money back. Have you seen any money back, Andrew?

20:29

Yeah. I have, but it took twelve years for the first one. Well, was it significant?

Yeah. I have, but it took twelve years for the first one. Well, was it significant?

20:35

Yeah. So I put in seventy five grand into a business

Yeah. So I put in seventy five grand into a business

20:38

and I got eight hundred grand back. And then I put,

and I got eight hundred grand back. And then I put,

20:42

two hundred fifty thousand into one, and I got three million back. But I also, over the next period invested in, like, twenty or thirty million dollars in the venture. So so it canceled out all the other games, and it it all comes down to, like, when you're investing, the, you know, the, the year you're investing. Right? If you invest in twenty twenty and twenty twenty one, like, it's just everything's out the window. Yeah. Well, we'll see. Sean, have you seen any money back there? Year, I started my rolling fund.

two hundred fifty thousand into one, and I got three million back. But I also, over the next period invested in, like, twenty or thirty million dollars in the venture. So so it canceled out all the other games, and it it all comes down to, like, when you're investing, the, you know, the, the year you're investing. Right? If you invest in twenty twenty and twenty twenty one, like, it's just everything's out the window. Yeah. Well, we'll see. Sean, have you seen any money back there? Year, I started my rolling fund.

21:09

Same here. It was just ironic. I see the first the first batch of investments we did were, so far are the highest performers. The first, like, six investments we did were the were the best batch.

Same here. It was just ironic. I see the first the first batch of investments we did were, so far are the highest performers. The first, like, six investments we did were the were the best batch.

21:21

Which is kinda interesting. Well, you've picked a, a handful of winners. I know a few that you've picked, and you've got a couple really really interesting companies. You know, you don't get the, you don't get liquidity until if it's a winner, it's gonna run for ten years. Right? So you it's not a good thing to do if you need cash, you know, today, which is, like, you know, plan. I've got winners. I mean, it's gonna be good. It's just

Which is kinda interesting. Well, you've picked a, a handful of winners. I know a few that you've picked, and you've got a couple really really interesting companies. You know, you don't get the, you don't get liquidity until if it's a winner, it's gonna run for ten years. Right? So you it's not a good thing to do if you need cash, you know, today, which is, like, you know, plan. I've got winners. I mean, it's gonna be good. It's just

21:42

boring.

boring.

21:42

Just lame.

Just lame.

21:44

Well, okay. My best and worst investment. Alright. So my best

Well, okay. My best and worst investment. Alright. So my best

21:48

I had a couple more interesting examples, but I'm just gonna say the one that's actually the best. So the truthful answer is clearly hands down Shepard.

I had a couple more interesting examples, but I'm just gonna say the one that's actually the best. So the truthful answer is clearly hands down Shepard.

21:57

So I had this idea

So I had this idea

22:00

mostly inspired by you, Andrew, which was, wow, this guy does really well.

mostly inspired by you, Andrew, which was, wow, this guy does really well.

22:05

And he doesn't have to start and invent the next big thing. So, you know, you buy businesses that already are working.

And he doesn't have to start and invent the next big thing. So, you know, you buy businesses that already are working.

22:11

And then maybe already have a tailwind, so they're gonna just keep working at greater rate in the future, like, when you got into, like, let's say, the the Shopify ecosystem with with e commerce. I was like, oh, that makes sense to me. Buy something that's already working. That has a tailwind, and hopefully you can accelerate it or make it work better. But

And then maybe already have a tailwind, so they're gonna just keep working at greater rate in the future, like, when you got into, like, let's say, the the Shopify ecosystem with with e commerce. I was like, oh, that makes sense to me. Buy something that's already working. That has a tailwind, and hopefully you can accelerate it or make it work better. But

22:28

even if you don't, you can still make good money if you buy at the right price. And

even if you don't, you can still make good money if you buy at the right price. And

22:33

we got, like, a basically, like, it's a crazy result so far out of the Shepherd deal. So I had this idea, which was, let me find a product that I use that I like that I kinda believe in of a business that's already working. Shepard fit the bill,

we got, like, a basically, like, it's a crazy result so far out of the Shepherd deal. So I had this idea, which was, let me find a product that I use that I like that I kinda believe in of a business that's already working. Shepard fit the bill,

22:48

buy in. We buy in. In this case, a minority stake, not a majority stake, so that

buy in. We buy in. In this case, a minority stake, not a majority stake, so that

22:52

Marshall would keep operating the thing,

Marshall would keep operating the thing,

22:54

and keep growing it. The tailwinds were behind us. Basically, first, it was COVID. So people went remote. That was one big tailwind. Second tailwind was

and keep growing it. The tailwinds were behind us. Basically, first, it was COVID. So people went remote. That was one big tailwind. Second tailwind was

23:03

when the economy started to slow down over the last year, everybody started to realize they need to be profitable. Well, one way to be profitable is higher talent for five times less than your currently hiring talent in the United States, and so higher off shore talent became, like, a very obvious thing for business owners to do if they wanted profits.

when the economy started to slow down over the last year, everybody started to realize they need to be profitable. Well, one way to be profitable is higher talent for five times less than your currently hiring talent in the United States, and so higher off shore talent became, like, a very obvious thing for business owners to do if they wanted profits.

23:19

And

And

23:20

So Shepard just takes off and and the third piece, which is can we accelerate it? And we had done a couple of experiments of, like, look, we have this big audience, right, between Twitter is almost half a million people. The podcast is way bigger than that newsletter. We have a diff we have we have not just a big numbers, but, like, big trust that has been built up. So if we pick a product that we actually believe in, I think this will work.

So Shepard just takes off and and the third piece, which is can we accelerate it? And we had done a couple of experiments of, like, look, we have this big audience, right, between Twitter is almost half a million people. The podcast is way bigger than that newsletter. We have a diff we have we have not just a big numbers, but, like, big trust that has been built up. So if we pick a product that we actually believe in, I think this will work.

23:42

We

We

23:43

in the last, I don't know, we've only owned the owned our stake in the business for, like, six to nine months or something like that, the business has tripled. And it was already big to begin with. And so this is just, like, an incredible result What how much of that is because of you? Well, we could see it because when people sign up, they either sign up through our link or they sign up and they say where they found it from. And so that's a minimum. Like, there's some people who They have heard about it on the podcast, but don't click the link or don't whatever.

in the last, I don't know, we've only owned the owned our stake in the business for, like, six to nine months or something like that, the business has tripled. And it was already big to begin with. And so this is just, like, an incredible result What how much of that is because of you? Well, we could see it because when people sign up, they either sign up through our link or they sign up and they say where they found it from. And so that's a minimum. Like, there's some people who They have heard about it on the podcast, but don't click the link or don't whatever.

24:06

And,

And,

24:09

Nick does a great job too. So I don't wanna, like, you know, take away from that, but, like, in the last six months, we drove, like, fifty percent more of the leads to the business. It's, like, a pretty insane,

Nick does a great job too. So I don't wanna, like, you know, take away from that, but, like, in the last six months, we drove, like, fifty percent more of the leads to the business. It's, like, a pretty insane,

24:19

you know, value driver. And so now I'm, like, oh, an unfair advantage. If I I don't need to do ten of these. If I just find a couple of businesses that are already standalone good businesses that I believe in, and I do the same thing. I can add millions of dollars of ARR to this business.

you know, value driver. And so now I'm, like, oh, an unfair advantage. If I I don't need to do ten of these. If I just find a couple of businesses that are already standalone good businesses that I believe in, and I do the same thing. I can add millions of dollars of ARR to this business.

24:33

I basically can't lose. That that is a, that is a completely unfair advantage,

I basically can't lose. That that is a, that is a completely unfair advantage,

24:37

to have. And now all I have to do is choose wisely.

to have. And now all I have to do is choose wisely.

24:41

And, so that's what I've been doing. We only did one deal this year. And, it would we saw, you know, maybe or so, but I think we picked the right one because that investment has has paid off. That business has added probably

And, so that's what I've been doing. We only did one deal this year. And, it would we saw, you know, maybe or so, but I think we picked the right one because that investment has has paid off. That business has added probably

24:52

that one deal he did, like, I thought I was getting in at a good price, but it is added at least thirty five million dollars of value just to that business,

that one deal he did, like, I thought I was getting in at a good price, but it is added at least thirty five million dollars of value just to that business,

25:00

just based on the growth. And so, that's, like, a crazy deal for him too. So, you know, good good good on Marshall for for cutting

just based on the growth. And so, that's, like, a crazy deal for him too. So, you know, good good good on Marshall for for cutting

25:06

it's interesting because, like, I think,

it's interesting because, like, I think,

25:09

I assume that he did it as a secondary or something like that. He wanted to de risk, take money off table. Yeah. But effectively, it's like a primary still. Because you've injected

I assume that he did it as a secondary or something like that. He wanted to de risk, take money off table. Yeah. But effectively, it's like a primary still. Because you've injected

25:18

call it ten or twenty million dollars of free marketing as part of the partnership.

call it ten or twenty million dollars of free marketing as part of the partnership.

25:22

Right? Yeah. Exactly. That's super smart. And it goes back to that idea. I've I've talked about it on the pod, but one plus one equals a hundred, you can take a mediocre business. And I think Shepard's a great business. So better if it's a great business. Well, that's not how math works. Oh, no. It's not. Right? But but you can take you can take you can take something. You can take a product and you combine it with an influencer, and you can get an incredible outcome because you basically have a free fifty million dollar year marketing budget as a result. Well, people had talked about this, but, like, you know, when I think of influencer, I think of, like, Kim Kardashian or, like, you know, mister Beast, it's like, yeah, obviously, you know, if they promote a product, it's gonna go really well. It turns out that there's a thing, like, b to b influencer.

Right? Yeah. Exactly. That's super smart. And it goes back to that idea. I've I've talked about it on the pod, but one plus one equals a hundred, you can take a mediocre business. And I think Shepard's a great business. So better if it's a great business. Well, that's not how math works. Oh, no. It's not. Right? But but you can take you can take you can take something. You can take a product and you combine it with an influencer, and you can get an incredible outcome because you basically have a free fifty million dollar year marketing budget as a result. Well, people had talked about this, but, like, you know, when I think of influencer, I think of, like, Kim Kardashian or, like, you know, mister Beast, it's like, yeah, obviously, you know, if they promote a product, it's gonna go really well. It turns out that there's a thing, like, b to b influencer.

26:01

Right? There's, like, a person who is respected amongst business people who is essentially, like,

Right? There's, like, a person who is respected amongst business people who is essentially, like,

26:07

you know,

you know,

26:08

I'm not saying my ass is big, but, like, we're kind of the kim kardashian of business influencers. Right? Like, there's you you can

I'm not saying my ass is big, but, like, we're kind of the kim kardashian of business influencers. Right? Like, there's you you can

26:15

You could promote to a community that that that understands what you're doing. And and if you, again, if you pick a good product with a good business, it will actually take off. If you have a shitty product or a shitty business, They'll try it and then it'll leak out, right, right away. And so it doesn't really work. Literally, this is what HubSpot did. HubSpot looked at the hustle, and they said, well, right now they're making call it twenty million dollars. I don't know if the number is twenty million dollars of ad revenue, but how much are those advertisers making off that twenty million dollars

You could promote to a community that that that understands what you're doing. And and if you, again, if you pick a good product with a good business, it will actually take off. If you have a shitty product or a shitty business, They'll try it and then it'll leak out, right, right away. And so it doesn't really work. Literally, this is what HubSpot did. HubSpot looked at the hustle, and they said, well, right now they're making call it twenty million dollars. I don't know if the number is twenty million dollars of ad revenue, but how much are those advertisers making off that twenty million dollars

26:41

of spend, maybe it's thirty million or forty million or fifty million. And so they can pay up to buy this business, and then they can just direct the traffic to themselves. And make all that money. And I've seen the numbers. I think it's a good I think it works for them. And let me tell you a crazy thing about this Shepherd deal. I haven't shared it before.

of spend, maybe it's thirty million or forty million or fifty million. And so they can pay up to buy this business, and then they can just direct the traffic to themselves. And make all that money. And I've seen the numbers. I think it's a good I think it works for them. And let me tell you a crazy thing about this Shepherd deal. I haven't shared it before.

26:59

So the way we structured this deal

So the way we structured this deal

27:02

was

was

27:03

beautifully done. So

beautifully done. So

27:05

I was like, look, here the business is good. The business was already spitting off millions of dollars of profit. So it's, like, cool, guys. I can bring you guys capital, but you kind of already have, like, a cash cow that's spinning off millions of dollars of profit. So, like,

I was like, look, here the business is good. The business was already spitting off millions of dollars of profit. So it's, like, cool, guys. I can bring you guys capital, but you kind of already have, like, a cash cow that's spinning off millions of dollars of profit. So, like,

27:18

don't really wanna that's not really the value add. Clearly, the value add is gonna be that I can help grow this actual grow the customer base. Right? Because because of the audience. And so, essentially, I put a very small amount of money down, and then the company lent me the money to buy my stake in the company. That's insane.

don't really wanna that's not really the value add. Clearly, the value add is gonna be that I can help grow this actual grow the customer base. Right? Because because of the audience. And so, essentially, I put a very small amount of money down, and then the company lent me the money to buy my stake in the company. That's insane.

27:37

And I was like, what?

And I was like, what?

27:38

And I was like, did they type this wrong? They're gonna give me the money to buy the the business. Just give me the money to buy the business. Like, deals. Where do I sign? This is easy. And it was a great deal for me. But again, like I said, the valuation of the company has grown over thirty million dollars just in that period of time. And so, in, like, less than a year. So, like,

And I was like, did they type this wrong? They're gonna give me the money to buy the the business. Just give me the money to buy the business. Like, deals. Where do I sign? This is easy. And it was a great deal for me. But again, like I said, the valuation of the company has grown over thirty million dollars just in that period of time. And so, in, like, less than a year. So, like,

27:58

I thought,

I thought,

27:59

dude, I'm getting an absolute steal here. Turns out they got actually even a bigger steal than I got. You know, it was, like, a win win. And so that's deal structure, because that's another thing I've learned when you when it comes to buying companies,

dude, I'm getting an absolute steal here. Turns out they got actually even a bigger steal than I got. You know, it was, like, a win win. And so that's deal structure, because that's another thing I've learned when you when it comes to buying companies,

28:10

Like, in venture, there's no structure. Venture is you put in money on a safe note or a priced round. Does not even negotiating on really terms unless you're the lead investor and you're doing something really funky, but it's not standard at all. When it comes to buying companies, structure is can make the difference between a good deal and in credible deal or a terrible deal. And, structure really, really matters. I learned a ton about structure this year negotiating a bunch of these deals. So Shepard kicked ass for you. You did great.

Like, in venture, there's no structure. Venture is you put in money on a safe note or a priced round. Does not even negotiating on really terms unless you're the lead investor and you're doing something really funky, but it's not standard at all. When it comes to buying companies, structure is can make the difference between a good deal and in credible deal or a terrible deal. And, structure really, really matters. I learned a ton about structure this year negotiating a bunch of these deals. So Shepard kicked ass for you. You did great.

28:37

Let's move to the biggest l that you took this year. What was that one? Last year, at the end of the year, this time last year, I was Like, hey, tax optimization. Why don't I sell a bunch of my crypto for tax purposes? Because with crypto, you can watch trade. You can basically sell and buy back the next day. You could book the loss because crypto was down last year, let's say.

Let's move to the biggest l that you took this year. What was that one? Last year, at the end of the year, this time last year, I was Like, hey, tax optimization. Why don't I sell a bunch of my crypto for tax purposes? Because with crypto, you can watch trade. You can basically sell and buy back the next day. You could book the loss because crypto was down last year, let's say.

28:58

So you could book a loss on any crypto that you had bought.

So you could book a loss on any crypto that you had bought.

29:02

Higher than that. And so crypto was crashing. Crypto went down to, like I don't know. Six Bitcoin went down to, like, sixteen k, and I had bought a bunch of Bitcoin at when we were doing the milk road, probably closer to to thirty k. So I could book, you know, big loss. And then I was like, great. I'm just gonna buy it right back. I believe in crypto. Right?

Higher than that. And so crypto was crashing. Crypto went down to, like I don't know. Six Bitcoin went down to, like, sixteen k, and I had bought a bunch of Bitcoin at when we were doing the milk road, probably closer to to thirty k. So I could book, you know, big loss. And then I was like, great. I'm just gonna buy it right back. I believe in crypto. Right?

29:20

But there is a funny psychological thing where, you know, catching a falling knife. It's like, I could buy back in, but, like, should I buy back in now? Is it gonna go lower?

But there is a funny psychological thing where, you know, catching a falling knife. It's like, I could buy back in, but, like, should I buy back in now? Is it gonna go lower?

29:28

You know, should I just kinda wait this out and see how it goes? Maybe I'll just do this other thing that that that thing's hot right now. Crypto is cold right now. So let me just Wait. I'm gonna do it, but I'll do it, you know, at the end of the month. And I said I'll do it at the end of the month for ten months straight. Just enough time for Bitcoin to rip back up another thirty five, forty percent. And I bought back in, and, you know, it's

You know, should I just kinda wait this out and see how it goes? Maybe I'll just do this other thing that that that thing's hot right now. Crypto is cold right now. So let me just Wait. I'm gonna do it, but I'll do it, you know, at the end of the month. And I said I'll do it at the end of the month for ten months straight. Just enough time for Bitcoin to rip back up another thirty five, forty percent. And I bought back in, and, you know, it's

29:49

my tax savings

my tax savings

29:50

cost me a lot of money. So that was a big l that I took falling into a bunch of obvious psychological traps that I could have pointed out for anybody else that I fell into. Now luckily for me, I didn't sell all of it because I bought bunch

cost me a lot of money. So that was a big l that I took falling into a bunch of obvious psychological traps that I could have pointed out for anybody else that I fell into. Now luckily for me, I didn't sell all of it because I bought bunch

30:03

lower than that. So it wasn't, like, that part wouldn't have been a a tax loss, but,

lower than that. So it wasn't, like, that part wouldn't have been a a tax loss, but,

30:09

still dumb. This is that's the second time you've done that that I know of. By my course,

still dumb. This is that's the second time you've done that that I know of. By my course,

30:14

sell low by high. Right? Like, that's basically what I executed to perfection this year.

sell low by high. Right? Like, that's basically what I executed to perfection this year.

30:19

I have one more. That was like a big miss. Wait. What is it? So we talked about Angel Investing. And Angel Investing, we're talking about, like, getting returns. Everyone's a game of Angel Investing is you you're gonna invest in thirty, maybe companies, and it's gonna be one or two that are, like, the runaway winners. That's really what you're playing the game for. It's like you're not trying to have a high hit rate. You're trying to have a huge slugging percentage. So a few just absolute grand slams.

I have one more. That was like a big miss. Wait. What is it? So we talked about Angel Investing. And Angel Investing, we're talking about, like, getting returns. Everyone's a game of Angel Investing is you you're gonna invest in thirty, maybe companies, and it's gonna be one or two that are, like, the runaway winners. That's really what you're playing the game for. It's like you're not trying to have a high hit rate. You're trying to have a huge slugging percentage. So a few just absolute grand slams.

30:41

And,

And,

30:42

I missed two.

I missed two.

30:44

Two's a lot. Two's the number you needed to win, and I missed two. The first is a the the realization here was it's

Two's a lot. Two's the number you needed to win, and I missed two. The first is a the the realization here was it's

30:52

not It's not about bad investments you make. It's the ones you miss. It's about the incredible events investments you miss. And that's how the venture, that's what that that's how it goes. So

not It's not about bad investments you make. It's the ones you miss. It's about the incredible events investments you miss. And that's how the venture, that's what that that's how it goes. So

31:02

I got introduced to a company called Whatnot that I don't know if you guys have heard about this business. We talked about it on the pod. You're early talking about it. It's like eBay. I talked about it. I believed in it. I was like, dude, I was at Twitch. It's basically live video streaming, and it started with, baseball cards and then a sports card. So, basically, people would open up a packed live But you would buy the pack. So it's like, they're sitting there. They got all these packs on the table. You would buy one. He would open it up, and he would be like, you got a Luca Donjic's rookie card Wow. This is amazing and the chat's going wild. You could just keep buying packs. And so it's like this, like, kind of live video sort of like casino.

I got introduced to a company called Whatnot that I don't know if you guys have heard about this business. We talked about it on the pod. You're early talking about it. It's like eBay. I talked about it. I believed in it. I was like, dude, I was at Twitch. It's basically live video streaming, and it started with, baseball cards and then a sports card. So, basically, people would open up a packed live But you would buy the pack. So it's like, they're sitting there. They got all these packs on the table. You would buy one. He would open it up, and he would be like, you got a Luca Donjic's rookie card Wow. This is amazing and the chat's going wild. You could just keep buying packs. And so it's like this, like, kind of live video sort of like casino.

31:34

I like all of those words, live video and casinos. I was like, I I wanna invest.

I like all of those words, live video and casinos. I was like, I I wanna invest.

31:39

And the guy's like, I don't know, man. We're we're, like, pretty oversubscribed. I'm, like, But it's me. It's a pal Sean. We just met.

And the guy's like, I don't know, man. We're we're, like, pretty oversubscribed. I'm, like, But it's me. It's a pal Sean. We just met.

31:45

Please. And he was like, alright. Let me think about it. And I didn't he was like, I don't think so. I don't think we have space. Let me let me go talk to some people, see if I can make space.

Please. And he was like, alright. Let me think about it. And I didn't he was like, I don't think so. I don't think we have space. Let me let me go talk to some people, see if I can make space.

31:53

And I made a big mistake. I waited, and I didn't chase.

And I made a big mistake. I waited, and I didn't chase.

31:56

And, whatnot is now valued, I think, at ten billion dollars. So that would have been by far the best investment in all of my Angel investing.

And, whatnot is now valued, I think, at ten billion dollars. So that would have been by far the best investment in all of my Angel investing.

32:03

I was there early on, and I believed it and I wanted to invest. And I just did not

I was there early on, and I believed it and I wanted to invest. And I just did not

32:08

fight hard enough to find a way to get into that company.

fight hard enough to find a way to get into that company.

32:12

And,

And,

32:13

so, you know, it's an angel investing. It's not about Oh, I made this one bad investment, and I lost one x. It's that I missed out on, you know, a two hundred x or a five hundred x return on that one deal. Right? Like, that my hundred fifty k check that I wanted to get into that would have been, like, a thirty million dollar position at this point. One one question was it when was it valued at ten billion?

so, you know, it's an angel investing. It's not about Oh, I made this one bad investment, and I lost one x. It's that I missed out on, you know, a two hundred x or a five hundred x return on that one deal. Right? Like, that my hundred fifty k check that I wanted to get into that would have been, like, a thirty million dollar position at this point. One one question was it when was it valued at ten billion?

32:33

I think it is it might have been at that kind of peak time. July two thousand twenty two, they raised at three point seven. Yeah. So okay. So maybe it's a four billion now instead of instead of, ten.

I think it is it might have been at that kind of peak time. July two thousand twenty two, they raised at three point seven. Yeah. So okay. So maybe it's a four billion now instead of instead of, ten.

32:45

So anyways,

So anyways,

32:46

you know, basically, that would have been a multi billion dollar, you know, it's a multi billion dollar company now, which is all you're trying to do in investing. Same thing happened with, a company called shuffle

you know, basically, that would have been a multi billion dollar, you know, it's a multi billion dollar company now, which is all you're trying to do in investing. Same thing happened with, a company called shuffle

32:55

So my former intern who came on the pod, I did an episode. I was like, my my old intern became a millionaire.

So my former intern who came on the pod, I did an episode. I was like, my my old intern became a millionaire.

33:02

When we were hanging out, I was like, so what are you doing now? And he's like, oh, I'm doing this, again, this crypto casino overseas. And I was like, I like all those words when it comes to making money. I wouldn't wanna take the risk myself of running that company. But if you're gonna run that company, I think it's a it's a great investment because these things, you know, we've talked about steak dot com. That is just this absolute juggernaut stake is, you know, issuing, like, billion dollar dividends a year. They have so much cash flow. And these guys are building, like, a state competitor

When we were hanging out, I was like, so what are you doing now? And he's like, oh, I'm doing this, again, this crypto casino overseas. And I was like, I like all those words when it comes to making money. I wouldn't wanna take the risk myself of running that company. But if you're gonna run that company, I think it's a it's a great investment because these things, you know, we've talked about steak dot com. That is just this absolute juggernaut stake is, you know, issuing, like, billion dollar dividends a year. They have so much cash flow. And these guys are building, like, a state competitor

33:28

And I wanted to invest. And then our, like, lawyer in back office was like, yeah, but they're based out of this country, so they're not gonna provide the k ones in time.

And I wanted to invest. And then our, like, lawyer in back office was like, yeah, but they're based out of this country, so they're not gonna provide the k ones in time.

33:36

Blah blah, and I was in a fund. And I was like, I can't put my fund money into this because, again, it's like this overseas crypto casino thing.

Blah blah, and I was in a fund. And I was like, I can't put my fund money into this because, again, it's like this overseas crypto casino thing.

33:45

And the fund cost me. This thing is gonna be a total winner. It looks like their their volume is growing like crazy. I think they have, like, I don't know. He, I'll look up the latest numbers. I mean, It's just painful every time he tells me the latest numbers where it's like,

And the fund cost me. This thing is gonna be a total winner. It looks like their their volume is growing like crazy. I think they have, like, I don't know. He, I'll look up the latest numbers. I mean, It's just painful every time he tells me the latest numbers where it's like,

33:57

every day is their biggest day. And, you know, they're they're doing millions and millions of dollars of daily betting volume and they're profitable.

every day is their biggest day. And, you know, they're they're doing millions and millions of dollars of daily betting volume and they're profitable.

34:05

And I'm like, you know what? You know what's interesting is, like, you might feel like you've missed the boat on that. But one of the things I've learned is, like, think about Amazon dot com. Right? Amazon dot com launched in, what, nineteen ninety four

And I'm like, you know what? You know what's interesting is, like, you might feel like you've missed the boat on that. But one of the things I've learned is, like, think about Amazon dot com. Right? Amazon dot com launched in, what, nineteen ninety four

34:18

And you you, you know, you basically had until two thousand and twelve

And you you, you know, you basically had until two thousand and twelve

34:23

to buy the stock. Right? Now, obviously, it's publicly traded easier to get into, but I bet you could go to him and say, hey, remember your old pal, Sean, can I put a hundred grand in or whatever it is? And just suck it up. Right? Don't get caught up in the fact that you could have invested at some low valuation. That sounds like it'll be a winner long term. Right? Yeah. And, I mean, who knows? That's a super high variance bet. Like, they could get shut down tomorrow if, like, wherever they're based in some little island somewhere gets, like, you know,

to buy the stock. Right? Now, obviously, it's publicly traded easier to get into, but I bet you could go to him and say, hey, remember your old pal, Sean, can I put a hundred grand in or whatever it is? And just suck it up. Right? Don't get caught up in the fact that you could have invested at some low valuation. That sounds like it'll be a winner long term. Right? Yeah. And, I mean, who knows? That's a super high variance bet. Like, they could get shut down tomorrow if, like, wherever they're based in some little island somewhere gets, like, you know,

34:49

seized, you know, who knows what's gonna happen with that? But that's a roller coaster I wanted to be on. If you're gonna do angel investing, you need high variance bets that can become absolutely massive or go to zero, you don't want things that are low risk, low reward. That's not how Angel investing works. Anyways, so those are my two worst investments. They're miss missed out, not lost money. What's yours, Andrew?

seized, you know, who knows what's gonna happen with that? But that's a roller coaster I wanted to be on. If you're gonna do angel investing, you need high variance bets that can become absolutely massive or go to zero, you don't want things that are low risk, low reward. That's not how Angel investing works. Anyways, so those are my two worst investments. They're miss missed out, not lost money. What's yours, Andrew?

35:10

So,

So,

35:12

I'm a designer. Like, I like,

I'm a designer. Like, I like,

35:14

you know, I like things to look nice. And I think every designer has this dream of building their dream house. And so,

you know, I like things to look nice. And I think every designer has this dream of building their dream house. And so,

35:22

about seven years ago, I bought a piece of property and I started building an amazing house, and I hired amazing architects and interior designers.

about seven years ago, I bought a piece of property and I started building an amazing house, and I hired amazing architects and interior designers.

35:30

And I'll just say now if you think you wanna build a house,

And I'll just say now if you think you wanna build a house,

35:34

try it. It really sucks.

try it. It really sucks.

35:37

You know, everyone has this fantasy, but what it really is, you know, you think it's gonna be about approving, like, beautiful exterior. What it really comes down to is you are choosing where the electrical outlets go. You are proving what, you know, what color tone all the lights are. And so you make ten thousand decisions,

You know, everyone has this fantasy, but what it really is, you know, you think it's gonna be about approving, like, beautiful exterior. What it really comes down to is you are choosing where the electrical outlets go. You are proving what, you know, what color tone all the lights are. And so you make ten thousand decisions,

35:54

and eventually you get decision fatigue, and you start making bad decisions,

and eventually you get decision fatigue, and you start making bad decisions,

35:58

or if you delegate, you delegate someone else. Someone else is just, you know, they delegation is great in a company, but when you live in this space, the things bother you. And so what I found was I because I was building my forever home, I would approve they'd be like, okay. Do you want,

or if you delegate, you delegate someone else. Someone else is just, you know, they delegation is great in a company, but when you live in this space, the things bother you. And so what I found was I because I was building my forever home, I would approve they'd be like, okay. Do you want,

36:14

this marble, or there's this really, really, really nice marble that you can get where it's got, you know, nicer designs or whatever. And I'd always choose the more expensive option because I was thinking this is my dream home I only get to build it once. And so I massively overbuilt, I massively overspent.

this marble, or there's this really, really, really nice marble that you can get where it's got, you know, nicer designs or whatever. And I'd always choose the more expensive option because I was thinking this is my dream home I only get to build it once. And so I massively overbuilt, I massively overspent.

36:31

I ended up not being happy with the actual house once I was done. Wasn't the house, like, eight thousand It's huge. I had everything I could have wanted a gym. I had a movie theater, all all sorts of stuff. And I ended up not even liking the house when I moved in because I just walk around the house going God damn it. I remember making that decision. You know, why did I make that beam that height? Why did I put that light there? And, anyway,

I ended up not being happy with the actual house once I was done. Wasn't the house, like, eight thousand It's huge. I had everything I could have wanted a gym. I had a movie theater, all all sorts of stuff. And I ended up not even liking the house when I moved in because I just walk around the house going God damn it. I remember making that decision. You know, why did I make that beam that height? Why did I put that light there? And, anyway,

36:53

So I ended up getting divorced a year and a half ago, and neither me or my ex wife wanted the house. And so I had to sell it. And I took a thirty percent loss on this house that I'd spent, you know, five years building and spent tons of money on. So that was my that was my big loss and my big lesson is I remember my dad said, you always wanna be the second owner of a hotel. Right? You want someone else to go crazy and build it out and then go bankrupt and then you wanna come in and own that. I think the same thing is true with houses. Just go buy a nice house that someone else built. That's a great line.

So I ended up getting divorced a year and a half ago, and neither me or my ex wife wanted the house. And so I had to sell it. And I took a thirty percent loss on this house that I'd spent, you know, five years building and spent tons of money on. So that was my that was my big loss and my big lesson is I remember my dad said, you always wanna be the second owner of a hotel. Right? You want someone else to go crazy and build it out and then go bankrupt and then you wanna come in and own that. I think the same thing is true with houses. Just go buy a nice house that someone else built. That's a great line.

37:26

You had an even bigger one, though, written down here.

You had an even bigger one, though, written down here.

37:29

Yeah. The other the other thing that happened to me this year so this this is this has happened to everybody but no one feels it. So this year,

Yeah. The other the other thing that happened to me this year so this this is this has happened to everybody but no one feels it. So this year,

37:38

my net worth got cut in half on paper. Right? So I went from my let's just say what's publicly available. So my tiny stock was worth, like,

my net worth got cut in half on paper. Right? So I went from my let's just say what's publicly available. So my tiny stock was worth, like,

37:47

seven hundred fifty, eight hundred billion dollars And today, it's worth about half of that. And it's really fascinating. Like, when you're when you own a private business or you own a real estate portfolio,

seven hundred fifty, eight hundred billion dollars And today, it's worth about half of that. And it's really fascinating. Like, when you're when you own a private business or you own a real estate portfolio,

37:57

You don't have a ticker. Right? If you own a million dollar house and all the houses in your neighborhood go down by twenty percent, you don't see that. You're not reminded of that. One of the crazy things about having a stock, a stock ticker, is every day you can see your net worth go up and down in radical ways.

You don't have a ticker. Right? If you own a million dollar house and all the houses in your neighborhood go down by twenty percent, you don't see that. You're not reminded of that. One of the crazy things about having a stock, a stock ticker, is every day you can see your net worth go up and down in radical ways.

38:13

And so, yeah, that kind of was pretty a pretty insane experience to see that happening over the course of six months. I would never text you this. But I remember, like, seeing the stock and everyone's gonna be like, not I just wanna be like, what does that feel like? You know what I mean? Like, because there's been days when it's gone way up, and there's been days it's gone way down. And I've I've always curious that I'm like, he knows what's going on. I wanna I'm gonna stay out of his hair on this It's really weird. I mean, Warren Buffett has this great

And so, yeah, that kind of was pretty a pretty insane experience to see that happening over the course of six months. I would never text you this. But I remember, like, seeing the stock and everyone's gonna be like, not I just wanna be like, what does that feel like? You know what I mean? Like, because there's been days when it's gone way up, and there's been days it's gone way down. And I've I've always curious that I'm like, he knows what's going on. I wanna I'm gonna stay out of his hair on this It's really weird. I mean, Warren Buffett has this great

38:40

anecdote where or or metaphor where he says owning a business is like owning a farm let's say that your farm makes a million dollars a year of profit,

anecdote where or or metaphor where he says owning a business is like owning a farm let's say that your farm makes a million dollars a year of profit,

38:48

and some some yokel comes to your fence, and he starts yelling. I'll buy your farm for a hundred grand. If you know your farm is worth millions of dollars, you just ignore the yokel. And so there's all sorts of different people shouting different offers on your farm at all times. And so that's kind of the approach I try and take is I just go, like,

and some some yokel comes to your fence, and he starts yelling. I'll buy your farm for a hundred grand. If you know your farm is worth millions of dollars, you just ignore the yokel. And so there's all sorts of different people shouting different offers on your farm at all times. And so that's kind of the approach I try and take is I just go, like,

39:07

you know, I know my business. I know what it's worth. But, yeah, it's pretty weird. Seeing big swings like that?

you know, I know my business. I know what it's worth. But, yeah, it's pretty weird. Seeing big swings like that?

39:14

My worst thing this year was my biggest l was partially inspired by Andrew Andrew.

My worst thing this year was my biggest l was partially inspired by Andrew Andrew.

39:19

You make a huge mistake when you're talking to me. The mistake is you say, oh, it's just easy. You just hire a CEO and then and you miss out on two things. One, it ain't easy. There's all it's always harder than you think. There's always more challenges than you think. The other thing is managing them, you know, how how should they manage you? How should you manage them? The thing with my company, Hampton, my CEO, Jordan, he's awesome.

You make a huge mistake when you're talking to me. The mistake is you say, oh, it's just easy. You just hire a CEO and then and you miss out on two things. One, it ain't easy. There's all it's always harder than you think. There's always more challenges than you think. The other thing is managing them, you know, how how should they manage you? How should you manage them? The thing with my company, Hampton, my CEO, Jordan, he's awesome.

39:43

But it's heavily based on my reputation and I'm heavily involved in the product. And so when I wanna be involved in the product, I've made mistakes where I'll just go directly to certain staff versus, like, understanding the chain of command.

But it's heavily based on my reputation and I'm heavily involved in the product. And so when I wanna be involved in the product, I've made mistakes where I'll just go directly to certain staff versus, like, understanding the chain of command.

39:56

And so just like understanding, like, how to, like, work with the CEO effectively

And so just like understanding, like, how to, like, work with the CEO effectively

40:01

has been a little bit of a challenge with me. I've I it's going great and things are going good, and I've made a lot of really good decisions, and he's wonderful.

has been a little bit of a challenge with me. I've I it's going great and things are going good, and I've made a lot of really good decisions, and he's wonderful.

40:09

But just learning how to, like, understand that relationship has been a challenge. And I've gotten in trouble a few times Partially,

But just learning how to, like, understand that relationship has been a challenge. And I've gotten in trouble a few times Partially,

40:15

I I take blame for a lot of the the instances, but I wish we would have talked more about how to manage them tactically. We've talked a lot about how to hire and fire and things like that, but not how to, like, work with someone on a daily or weekly or monthly basis. Yeah. And I lots of learning there because I think it's very tempting to see a mistake and jump in, but it's it's similar to delegation. Right? When you first start delegating to an employee,

I I take blame for a lot of the the instances, but I wish we would have talked more about how to manage them tactically. We've talked a lot about how to hire and fire and things like that, but not how to, like, work with someone on a daily or weekly or monthly basis. Yeah. And I lots of learning there because I think it's very tempting to see a mistake and jump in, but it's it's similar to delegation. Right? When you first start delegating to an employee,

40:38

you wanna correct the errors as you see them. At the end of the day, the hardest part about having a CEO is that they can ruin the business if they're not careful, and you ultimately have to let them make their own mistakes and learn from them. Think I've shared on the pod. Like, we've had a couple instances where a CEO wants to spend

you wanna correct the errors as you see them. At the end of the day, the hardest part about having a CEO is that they can ruin the business if they're not careful, and you ultimately have to let them make their own mistakes and learn from them. Think I've shared on the pod. Like, we've had a couple instances where a CEO wants to spend

40:56

one, two, three million dollars on r and d. And we don't believe it's gonna work out, but we let them because we go. If we don't, they're gonna resent us. They're gonna say, Andrew and Chris were holding us back we couldn't make our bonuses because we couldn't execute on the strategy. And so we always say,

one, two, three million dollars on r and d. And we don't believe it's gonna work out, but we let them because we go. If we don't, they're gonna resent us. They're gonna say, Andrew and Chris were holding us back we couldn't make our bonuses because we couldn't execute on the strategy. And so we always say,

41:13

we want non fatal errors, not fatal errors. We'll intervene when they're fatal. Right? So I think for you, like intervening when it's something that's gonna ruin your reputation, you should jump on that or ruin the business or imperil it. But otherwise, the hard part is you just kinda have to watch them make mistakes and realize that over the long term, they'll make more,

we want non fatal errors, not fatal errors. We'll intervene when they're fatal. Right? So I think for you, like intervening when it's something that's gonna ruin your reputation, you should jump on that or ruin the business or imperil it. But otherwise, the hard part is you just kinda have to watch them make mistakes and realize that over the long term, they'll make more,

41:33

make more good decisions than bad.

make more good decisions than bad.

41:36

Yeah. And it's just an emotional these are emotional issues. But,

Yeah. And it's just an emotional these are emotional issues. But,

41:40

that's mine. Sean, what do you wanna do now? Which one? Let's go to one of my favorites. So unsexy business. So what is a

that's mine. Sean, what do you wanna do now? Which one? Let's go to one of my favorites. So unsexy business. So what is a

41:47

unsexy kinda under the radar,

unsexy kinda under the radar,

41:49

maybe simple business,

maybe simple business,

41:51

that stood out to you that you really liked. Let me go first on this one. I've got one that's interesting. So there's this guy I went to high school with named Chris, Chris Hoffman,

that stood out to you that you really liked. Let me go first on this one. I've got one that's interesting. So there's this guy I went to high school with named Chris, Chris Hoffman,

41:59

He just started posting content on Twitter, like, three months ago. So, basically, he posted a story, but I had known what his father did. So his father owned a heating and cooling company called Hoffman Bros Heating and Cooling out of Saint Louis where I'm from.

He just started posting content on Twitter, like, three months ago. So, basically, he posted a story, but I had known what his father did. So his father owned a heating and cooling company called Hoffman Bros Heating and Cooling out of Saint Louis where I'm from.

42:14

He posted. He goes in two thousand sixteen. We took over my father's company.

He posted. He goes in two thousand sixteen. We took over my father's company.

42:18

I bought it from him, and it was doing thirteen million in revenue. And he goes through two thousand sixteen way up to two thousand thirteen, where he explains the changes they made and how much revenue,

I bought it from him, and it was doing thirteen million in revenue. And he goes through two thousand sixteen way up to two thousand thirteen, where he explains the changes they made and how much revenue,

42:29

the business is now doing. So in two thousand sixteen, it was thirteen two thousand twenty. It was forty two thousand twenty three. It's gonna be, like, a hundred and forty million in revenue from HVAC business that he owns and he's and he, like, tweets out all these interesting bits of content about things he's doing. Like, for example, we're giving an additional holiday off. And here's how that that's gonna impact the business. Or we created this thing called Hoffman University, which teaches people. We had to buy a whole building for this much money. It's been very, very fascinating

the business is now doing. So in two thousand sixteen, it was thirteen two thousand twenty. It was forty two thousand twenty three. It's gonna be, like, a hundred and forty million in revenue from HVAC business that he owns and he's and he, like, tweets out all these interesting bits of content about things he's doing. Like, for example, we're giving an additional holiday off. And here's how that that's gonna impact the business. Or we created this thing called Hoffman University, which teaches people. We had to buy a whole building for this much money. It's been very, very fascinating

42:56

He needs cooling companies. That's gonna be the new storage business. We're gonna see lots of people going on, and doing that because of this guy, Chris Hoffman, really fascinating stuff. Yes. So mine is really, really boring. So,

He needs cooling companies. That's gonna be the new storage business. We're gonna see lots of people going on, and doing that because of this guy, Chris Hoffman, really fascinating stuff. Yes. So mine is really, really boring. So,

43:08

in every fashion house or graphic design studio, there's a book of colors called Pant Tone. So you might see these. They're these big fat books. And you could literally just flip through them. You look at different colors. And what they've done that's incredibly smart is they've trademarked

in every fashion house or graphic design studio, there's a book of colors called Pant Tone. So you might see these. They're these big fat books. And you could literally just flip through them. You look at different colors. And what they've done that's incredibly smart is they've trademarked

43:24

colors.

colors.

43:24

So they have intellectual property where it'll be like burgundy blue

So they have intellectual property where it'll be like burgundy blue

43:29

sapphire, orange, you know, whatever.

sapphire, orange, you know, whatever.

43:31

And this company, I found out makes over a hundred million dollars a year of revenue

And this company, I found out makes over a hundred million dollars a year of revenue

43:36

And one of the most genius things about it is they give you that book, and they say, you need to buy a new book every year because the colors fade. Right, from, being in the sun or whatever. And so they're just constantly reselling these books. People are licensing these colors. And the entire fashion and graphic design,

And one of the most genius things about it is they give you that book, and they say, you need to buy a new book every year because the colors fade. Right, from, being in the sun or whatever. And so they're just constantly reselling these books. People are licensing these colors. And the entire fashion and graphic design,

43:53

world is, standardized on pantone.

world is, standardized on pantone.

43:56

So it's it's just so boring and wonderful.

So it's it's just so boring and wonderful.

44:00

Well, we talked about WGSN, their competitor,

Well, we talked about WGSN, their competitor,

44:03

and how I think it's publicly traded, but they're trying to sell it for, like,

and how I think it's publicly traded, but they're trying to sell it for, like,

44:07

I think they're trying to sell it for, like, eight hundred million dollars because But I I don't think they're competitors. This is, like, the lower level. This is literally the colors.

I think they're trying to sell it for, like, eight hundred million dollars because But I I don't think they're competitors. This is, like, the lower level. This is literally the colors.

44:15

It's not saying which w just sends, like, we're gonna research and reports. We'll tell you which color does that. This is, like, pantone does that too. They do, like, it'll do, like, color forecasting and trending and all that kind of stuff too. Where where do they make the money? Is it on the books? Is it on the the dyes, or is it on the reports? Do you know? All of it. And then if they use the color. So they'll say, like, this color of red is gonna be in next season or whatever. And if you wanna use it, we have some IP around.

It's not saying which w just sends, like, we're gonna research and reports. We'll tell you which color does that. This is, like, pantone does that too. They do, like, it'll do, like, color forecasting and trending and all that kind of stuff too. Where where do they make the money? Is it on the books? Is it on the the dyes, or is it on the reports? Do you know? All of it. And then if they use the color. So they'll say, like, this color of red is gonna be in next season or whatever. And if you wanna use it, we have some IP around.

44:42

So WGS ended fifty million in EBITDA last year.

So WGS ended fifty million in EBITDA last year.

44:45

And they've been around for, like, thirty years. We I I've been, like, obsessed with this space for a minute. I I remember, Sean, you remember I used to bring this up? I think at our old office.

And they've been around for, like, thirty years. We I I've been, like, obsessed with this space for a minute. I I remember, Sean, you remember I used to bring this up? I think at our old office.

44:54

I've I've been loving this stuff. Pantone's a good one. And I I think it's WGSN

I've I've been loving this stuff. Pantone's a good one. And I I think it's WGSN

45:00

and pantone, like, own this space. It's basically like when Starbucks is gonna come out with their new uniforms or their new, like, Christmas sleeves or the cups, they refer to each of these companies to figure out which colors are gonna be popular in six months.

and pantone, like, own this space. It's basically like when Starbucks is gonna come out with their new uniforms or their new, like, Christmas sleeves or the cups, they refer to each of these companies to figure out which colors are gonna be popular in six months.

45:13

Yeah, it's a really fascinating company. And they've been around for a long ass time too. Love it. Alright. Let's do next category. So next category is content of the year. What are the either books or blogs or TV shows or podcasts.

Yeah, it's a really fascinating company. And they've been around for a long ass time too. Love it. Alright. Let's do next category. So next category is content of the year. What are the either books or blogs or TV shows or podcasts.

45:26

What was the best of the best. Right? We're all inundated with so much content. And we all kinda want a little bit less content, but we still want the best. So what was the best content that you consumed

What was the best of the best. Right? We're all inundated with so much content. And we all kinda want a little bit less content, but we still want the best. So what was the best content that you consumed

45:37

this year? What was yours? Okay. I'll give you one, so on the TV side, the bear season two episode

this year? What was yours? Okay. I'll give you one, so on the TV side, the bear season two episode

45:46

seven.

seven.

45:47

You guys seen the the stressful, but that's a great episode. I've tried to watch it so many times, hijacks. I liked breaking bad. I love stressful shows. There's something about the way that that show is cut. I just can't watch it. I get too stressed out and I have to turn it off. It's like uncut gems. Yeah. I heard about this for the show. So many times, I started it. I I I wasn't stressed. I was actually just kind of like cool. It's kinda slow. You know? Like, I'm I'm not, like, there's not really that much going on. It's, like, almost so real. It's, like, the, you know, a restaurant is not that exciting,

You guys seen the the stressful, but that's a great episode. I've tried to watch it so many times, hijacks. I liked breaking bad. I love stressful shows. There's something about the way that that show is cut. I just can't watch it. I get too stressed out and I have to turn it off. It's like uncut gems. Yeah. I heard about this for the show. So many times, I started it. I I I wasn't stressed. I was actually just kind of like cool. It's kinda slow. You know? Like, I'm I'm not, like, there's not really that much going on. It's, like, almost so real. It's, like, the, you know, a restaurant is not that exciting,

46:16

but I kept hearing about this episode. So I powered through. Oh, that's the whole first season. The whole second season just to get this one episode.

but I kept hearing about this episode. So I powered through. Oh, that's the whole first season. The whole second season just to get this one episode.

46:23

And I by the by the time I got there, I was like, there's no way this is worth it.

And I by the by the time I got there, I was like, there's no way this is worth it.

46:26

Totally worth it. That is one of the best episodes of television I have ever seen

Totally worth it. That is one of the best episodes of television I have ever seen

46:31

is such an emotional,

is such an emotional,

46:33

you know, high. I'd love that episode. I love it. I remember where I was sitting when I watched that and just thinking, whoever made this You are incredible. And it teaches you a ton about business. Like, everyone after watching that episode went and read the book, what's it called? Like, great hospitality?

you know, high. I'd love that episode. I love it. I remember where I was sitting when I watched that and just thinking, whoever made this You are incredible. And it teaches you a ton about business. Like, everyone after watching that episode went and read the book, what's it called? Like, great hospitality?

46:49

Yeah. Yeah. Yeah. Unum on something, unbelievable hospitality or something. Right.

Yeah. Yeah. Yeah. Unum on something, unbelievable hospitality or something. Right.

46:54

It's so there's a lot of business takeaways. What was the other one, Sean? I'll give you one more. So I'll give you a book that I I liked this year.

It's so there's a lot of business takeaways. What was the other one, Sean? I'll give you one more. So I'll give you a book that I I liked this year.

47:01

It's called have you ever read this? It's called Talk Like Churchill stand like Lincoln. No. What is that? So I go down these random rabbit holes while I try to get better at, let's say, storytelling or public speaking or, you know, things like that. This is one that's on speaking and storytelling.

It's called have you ever read this? It's called Talk Like Churchill stand like Lincoln. No. What is that? So I go down these random rabbit holes while I try to get better at, let's say, storytelling or public speaking or, you know, things like that. This is one that's on speaking and storytelling.

47:16

That I I really liked. Didn't expect to like it. I like the title though. Talk like Churchill Stand like Lincoln.

That I I really liked. Didn't expect to like it. I like the title though. Talk like Churchill Stand like Lincoln.

47:22

And it's a very simple book. And a lot of it is kind of obvious things,

And it's a very simple book. And a lot of it is kind of obvious things,

47:26

but I found it to be a very useful book.

but I found it to be a very useful book.

47:29

And it is, it's about how to speak better how to carry yourself better in different situations. Samuel Lovett. There's a whole there's a much chapter

And it is, it's about how to speak better how to carry yourself better in different situations. Samuel Lovett. There's a whole there's a much chapter

47:37

on on dress. How you how you how you should dress and why you should dress the way you dress, there's a whole whole chapter on that. And it's very short chapters that are on simple principles with a ton of examples, and it's an it's a very old book. So, like, don't think a lot of people will read this book in general.

on on dress. How you how you how you should dress and why you should dress the way you dress, there's a whole whole chapter on that. And it's very short chapters that are on simple principles with a ton of examples, and it's an it's a very old book. So, like, don't think a lot of people will read this book in general.

47:52

And all of the examples are from, like, you know, old presidents and stuff that happened, like, you know, before nineteen fifty. I think it's just like a, I don't know, it's like an old book or uses old examples,

And all of the examples are from, like, you know, old presidents and stuff that happened, like, you know, before nineteen fifty. I think it's just like a, I don't know, it's like an old book or uses old examples,

48:02

but it's a good one. I recommend it. It's not the best book I've ever read. But again, I just found it a very simple, useful book for anybody that wants to get better at, how they carry themselves and how they present themselves. That's a good one. Alright. So there's this idea with,

but it's a good one. I recommend it. It's not the best book I've ever read. But again, I just found it a very simple, useful book for anybody that wants to get better at, how they carry themselves and how they present themselves. That's a good one. Alright. So there's this idea with,

48:17

stoicism, the philosophy of stoicism. I forget the exact term, but basically it's where you imagine all of the worst things have happened. They say, you've got cancer. Your kids sick and dying. Your parents are dead. Now open up your eyes, and none of that's true, and you're grateful.

stoicism, the philosophy of stoicism. I forget the exact term, but basically it's where you imagine all of the worst things have happened. They say, you've got cancer. Your kids sick and dying. Your parents are dead. Now open up your eyes, and none of that's true, and you're grateful.

48:31

I love that idea. And so this year,

I love that idea. And so this year,

48:34

I went on a spree where I read books about people's hardships. So I read the wager, which was a ten out of ten. It's about a shipwreck And these guys are stranded for two years. And I read, like, literally four different shipwreck books. I read about Lewis and Clark and how they spent two years going through.

I went on a spree where I read books about people's hardships. So I read the wager, which was a ten out of ten. It's about a shipwreck And these guys are stranded for two years. And I read, like, literally four different shipwreck books. I read about Lewis and Clark and how they spent two years going through.

48:49

America in order to find the other side of the country and and all these hardship because it makes my life feel better when I'm just complaining about, like, a blog post. So

America in order to find the other side of the country and and all these hardship because it makes my life feel better when I'm just complaining about, like, a blog post. So

48:57

Another thing that I really got into,

Another thing that I really got into,

48:59

it's on Netflix. It's called World War two from the front lines. And there's two things that I've been obsessed with this year, a hardship. And so seeing like these soldiers and the Jews and what they went through through the Holocaust and the soldiers on D Day, it makes me so much so thankful that I don't have to do that. And I'm like, oh, this shit's easy. This money stuff stuff's way easy. The other thing that I'm obsessed with is charisma. Even evil charismatic people. So I got like, I read all these books about Charlie Mancet,

it's on Netflix. It's called World War two from the front lines. And there's two things that I've been obsessed with this year, a hardship. And so seeing like these soldiers and the Jews and what they went through through the Holocaust and the soldiers on D Day, it makes me so much so thankful that I don't have to do that. And I'm like, oh, this shit's easy. This money stuff stuff's way easy. The other thing that I'm obsessed with is charisma. Even evil charismatic people. So I got like, I read all these books about Charlie Mancet,

49:25

about Hitler, about Lincoln, about George Washington, and I love seeing this. And you see that in this World War documentary. What they do is they take real life footage from that era and they colorize it. And you see, like,

about Hitler, about Lincoln, about George Washington, and I love seeing this. And you see that in this World War documentary. What they do is they take real life footage from that era and they colorize it. And you see, like,

49:36

you know, Joseph Goldles, one of the, one of the folks, and one of the guys who led propaganda for nazis, you see him giving a speech, and you see all, you see literally a million people in the crowd, like, being convinced to do all these evil things, And I find it so fascinating how cult leaders, like, use their charisma to do to force people or convince people to do bad stuff. And so World War two from the front lines, it's on Netflix. It's awesome. That's probably the best thing that I've consumed this year.

you know, Joseph Goldles, one of the, one of the folks, and one of the guys who led propaganda for nazis, you see him giving a speech, and you see all, you see literally a million people in the crowd, like, being convinced to do all these evil things, And I find it so fascinating how cult leaders, like, use their charisma to do to force people or convince people to do bad stuff. And so World War two from the front lines, it's on Netflix. It's awesome. That's probably the best thing that I've consumed this year.

50:00

What's yours, Andrew?

What's yours, Andrew?

50:02

So, like everyone else, I've been freaking out about AI, and I go through these phases where I try not to think about it too much and then I go down a rabbit hole. And I decided to read two books at the same time that kinda counterbalance one another So one book is called The Coming Wave. It's by one of the co founders of Open AI. And it's really fascinating. Usually, you've got these kind of, like, think piece analysis books by academic or professional

So, like everyone else, I've been freaking out about AI, and I go through these phases where I try not to think about it too much and then I go down a rabbit hole. And I decided to read two books at the same time that kinda counterbalance one another So one book is called The Coming Wave. It's by one of the co founders of Open AI. And it's really fascinating. Usually, you've got these kind of, like, think piece analysis books by academic or professional

50:27

authors.

authors.

50:29

And this guy actually is, you know, he's been on the front lines for the last fifteen years.

And this guy actually is, you know, he's been on the front lines for the last fifteen years.

50:33

Built deep mind and has been at Google,

Built deep mind and has been at Google,

50:36

working on, you know, their AI programs for years. So,

working on, you know, their AI programs for years. So,

50:40

and he he has a very

and he he has a very

50:43

extreme

extreme

50:44

view that effectively

view that effectively

50:46

AI will disrupt all work and that the second and third order consequences are just endless

AI will disrupt all work and that the second and third order consequences are just endless

50:51

and we can't really contemplate them. And he kind of argues for regulation and containment.

and we can't really contemplate them. And he kind of argues for regulation and containment.

50:56

And then on the flip side, at the same time, the counterbalance the anxiety of reading that, I've been reading Morgan Houssel new Morgan Houssel's new book. Same as ever, which is about how things don't change. What are the things that stay the same over the long term? Know, people still eat the same candy bars. They still enjoy reading a book. They like going for a walk in nature, etcetera. So the those have been two, books that I've absolutely loved. And then I second the book, the Wager,

And then on the flip side, at the same time, the counterbalance the anxiety of reading that, I've been reading Morgan Houssel new Morgan Houssel's new book. Same as ever, which is about how things don't change. What are the things that stay the same over the long term? Know, people still eat the same candy bars. They still enjoy reading a book. They like going for a walk in nature, etcetera. So the those have been two, books that I've absolutely loved. And then I second the book, the Wager,

51:21

like Sam, before I go to bed,

like Sam, before I go to bed,

51:24

I always read books about people in terrible situations or in worlds that are very different than the world I inhabit. And the wager is amazing. I'm just at the part where they're going around the horn. So I'm pretty early, but oh my god. It's amazing. It's hard to put down, isn't it? That's one of the only books I've ever read in one sitting.

I always read books about people in terrible situations or in worlds that are very different than the world I inhabit. And the wager is amazing. I'm just at the part where they're going around the horn. So I'm pretty early, but oh my god. It's amazing. It's hard to put down, isn't it? That's one of the only books I've ever read in one sitting.

51:41

Wow. Sean, you gotta get on that shipwreck,

Wow. Sean, you gotta get on that shipwreck,

51:44

train.

train.

51:45

I've got about three more shipwreck books if you want. I never bought into the stow this the stoicism,

I've got about three more shipwreck books if you want. I never bought into the stow this the stoicism,

51:51

imagine the negative visualization stuff. I didn't enjoy that. I do like reading about hardship or, like, kind of, like, people who went through things just to give yourself perspective,

imagine the negative visualization stuff. I didn't enjoy that. I do like reading about hardship or, like, kind of, like, people who went through things just to give yourself perspective,

52:00

more than it more than to make myself feel good, although that's a good side effect, but I think it's more important to have

more than it more than to make myself feel good, although that's a good side effect, but I think it's more important to have

52:06

a broader perspective than just the little narrow stuff you see in your day to day life.

a broader perspective than just the little narrow stuff you see in your day to day life.

52:12

But doesn't that stuff just kind of like bum you out. Like, you know, I I feel like I get the same effect of feeling good just by,

But doesn't that stuff just kind of like bum you out. Like, you know, I I feel like I get the same effect of feeling good just by,

52:19

you know, being thankful for what's going good and imagining things going well, and I can sleep easy to adamizes.

you know, being thankful for what's going good and imagining things going well, and I can sleep easy to adamizes.

52:25

So the one of the most relaxing things for me is when I'm really, really stressed. I watch a show called survivor, ma'am. Have you guys ever heard of this?

So the one of the most relaxing things for me is when I'm really, really stressed. I watch a show called survivor, ma'am. Have you guys ever heard of this?

52:32

Yeah. I'm the guy who, like, just is on his own for seven days, and he's gotta figure it out. This poor bastard. They put him in, like, you know, the antarctic

Yeah. I'm the guy who, like, just is on his own for seven days, and he's gotta figure it out. This poor bastard. They put him in, like, you know, the antarctic

52:40

with no, you know, he doesn't even have a hatchet or anything. It's like a monica. Himself. He doesn't even have a film crew around. He's got an emergency beacon if he's almost dying. But he films himself

with no, you know, he doesn't even have a hatchet or anything. It's like a monica. Himself. He doesn't even have a film crew around. He's got an emergency beacon if he's almost dying. But he films himself

52:51

surviving.

surviving.

52:52

And you see this guy, like, drinking his own urine and eating rats and digging, you know, digging shelters under the ice and all this stuff. And every time I watch that, I just think how remarkable it is that I live in this amazing warm structure. He's got, like, a bad sleep mask up on his forehead. He's, like, toes, you know, too vague as he's watching survivor

And you see this guy, like, drinking his own urine and eating rats and digging, you know, digging shelters under the ice and all this stuff. And every time I watch that, I just think how remarkable it is that I live in this amazing warm structure. He's got, like, a bad sleep mask up on his forehead. He's, like, toes, you know, too vague as he's watching survivor

53:13

reading gets printed emails. Asking in the glow of my Peter Atilla red phone.

reading gets printed emails. Asking in the glow of my Peter Atilla red phone.

53:18

Right. He's

Right. He's

53:20

like, oh, shit. I saw blue light two hours before bed. No.

like, oh, shit. I saw blue light two hours before bed. No.

53:25

He's gonna eat the rats and drink the fish.

He's gonna eat the rats and drink the fish.

53:28

And you're reading the wager and like, don't these pussies know that they'll just got they just have to eat a lemon and they won't get scurvy. What a bunch of morons?

And you're reading the wager and like, don't these pussies know that they'll just got they just have to eat a lemon and they won't get scurvy. What a bunch of morons?

53:38

Alright. Wild this predictions,

Alright. Wild this predictions,

53:40

what's yours? Dude, I didn't I didn't do any here, Andrew. You gotta carry us. Yeah. So mine is that I think assistant admin jobs could go away or change radically.

what's yours? Dude, I didn't I didn't do any here, Andrew. You gotta carry us. Yeah. So mine is that I think assistant admin jobs could go away or change radically.

53:51

I think that, if you think about a lot of the tasks that personal assistants do,

I think that, if you think about a lot of the tasks that personal assistants do,

53:56

I think a very well trained Google AI that understands your Google Drive, your calendar, and your email,

I think a very well trained Google AI that understands your Google Drive, your calendar, and your email,

54:03

we'll be able to do probably eighty percent of those tasks maybe

we'll be able to do probably eighty percent of those tasks maybe

54:07

more And I think that's coming in the very near term.

more And I think that's coming in the very near term.

54:10

You know, these things are just progressing at such an exponential

You know, these things are just progressing at such an exponential

54:13

rate. And so that's something I've been thinking a lot about. And I'm I'm excited. You know, I think it frees up a lot of people to do, you know, more interesting work, but, it's gonna be pretty wildly disruptive.

rate. And so that's something I've been thinking a lot about. And I'm I'm excited. You know, I think it frees up a lot of people to do, you know, more interesting work, but, it's gonna be pretty wildly disruptive.

54:25

Well, we we gotta read our predictions from last year. Right? That I think that's where we gotta start for this one. So, Andrew, your prediction for twenty twenty three was

Well, we we gotta read our predictions from last year. Right? That I think that's where we gotta start for this one. So, Andrew, your prediction for twenty twenty three was

54:32

that we would see a lot of copy slash competitors to g p t three slash a I. Correct?

that we would see a lot of copy slash competitors to g p t three slash a I. Correct?

54:37

You said Google jumps in. Correct?

You said Google jumps in. Correct?

54:40

AWS has something, and Azure have something Azure did the big, you know, Microsoft did the big deal with OpenAI. So

AWS has something, and Azure have something Azure did the big, you know, Microsoft did the big deal with OpenAI. So

54:46

you were pretty spot on. Sam, yours was

you were pretty spot on. Sam, yours was

54:49

Elon dies or gets canceled in a serious way. And then he said OpenAI gets regulated.

Elon dies or gets canceled in a serious way. And then he said OpenAI gets regulated.

54:56

The inputs happened. The inputs for Elon Musk were there. The output was not. Dude, he's he's getting kind of like a long slow cancellation,

The inputs happened. The inputs for Elon Musk were there. The output was not. Dude, he's he's getting kind of like a long slow cancellation,

55:04

you know, progressively,

you know, progressively,

55:06

And by the way, that's my same prediction for the for the next year. I think Elon will admit that buying Twitter was a mistake. Although, I think he's already acknowledged. He's like, this is hardship that I didn't necessarily need. But I think that, like, with all the advertisers leaving, I've been buying ads on Twitter. I tested it. It, like, the cost per click are, like, stupid cheap. I don't even wanna mention that on here because it's going good. Cut that shit up.

And by the way, that's my same prediction for the for the next year. I think Elon will admit that buying Twitter was a mistake. Although, I think he's already acknowledged. He's like, this is hardship that I didn't necessarily need. But I think that, like, with all the advertisers leaving, I've been buying ads on Twitter. I tested it. It, like, the cost per click are, like, stupid cheap. I don't even wanna mention that on here because it's going good. Cut that shit up.

55:26

But basically, I think I think the Twitter experiment, I think it's gonna live, but not under Elon or something in a drastic way. So I'm extending my twenty three into twenty four. Okay. I like that. My prediction was

But basically, I think I think the Twitter experiment, I think it's gonna live, but not under Elon or something in a drastic way. So I'm extending my twenty three into twenty four. Okay. I like that. My prediction was

55:38

selfish. I said, this is the year that I turned the corner and actually

selfish. I said, this is the year that I turned the corner and actually

55:42

get shredded up. Yes. So get ripped, get in great shape. And then I also said, I was a startup company that's, you know, special or, like, maybe a legacy company. Definitely did not do the second one. Didn't but I also didn't, like, after that podcast, I stopped thinking about that completely, and I made actually my goal to not start a company this year.

get shredded up. Yes. So get ripped, get in great shape. And then I also said, I was a startup company that's, you know, special or, like, maybe a legacy company. Definitely did not do the second one. Didn't but I also didn't, like, after that podcast, I stopped thinking about that completely, and I made actually my goal to not start a company this year.

56:00

But I, and then the getting ripped, I actually got to my fattest this year. But then

But I, and then the getting ripped, I actually got to my fattest this year. But then

56:07

before the end of the year,

before the end of the year,

56:09

fourth quarter was, you know, the clock was draining,

fourth quarter was, you know, the clock was draining,

56:12

and I came through in the clutch. And I'm now down about,

and I came through in the clutch. And I'm now down about,

56:16

let's see. Thirteen, fourteen pounds. And, I've been eating clean for, what, forty five straight days.

let's see. Thirteen, fourteen pounds. And, I've been eating clean for, what, forty five straight days.

56:24

Like, perfect. Perfect eating exactly what I wanna be doing. And, for to put that perspective, forty five days probably doesn't sound like much. That's a month and a half.

Like, perfect. Perfect eating exactly what I wanna be doing. And, for to put that perspective, forty five days probably doesn't sound like much. That's a month and a half.

56:32

Probably the longest I went of actual perfect eating where I'm not eating a bunch of chips or,

Probably the longest I went of actual perfect eating where I'm not eating a bunch of chips or,

56:37

you know, ordering a pizza or something like that, you know, one night when I'm tired or stressed.

you know, ordering a pizza or something like that, you know, one night when I'm tired or stressed.

56:42

By pro probably the last time I did a stretch would have been, like, seven days would have been, like, the longest I had gone just of actual clean eating. And now I'm at forty five, so it's going great. With those Empicker without

By pro probably the last time I did a stretch would have been, like, seven days would have been, like, the longest I had gone just of actual clean eating. And now I'm at forty five, so it's going great. With those Empicker without

56:52

He's He hates his empic, baby. I'm on that no zempic plan. Daddy.

He's He hates his empic, baby. I'm on that no zempic plan. Daddy.

56:57

He, and in the YouTube comments, you every video is commenting either your skin or your look. So it's working. People are people are loving your,

He, and in the YouTube comments, you every video is commenting either your skin or your look. So it's working. People are people are loving your,

57:06

glow up. What about coolest moment of your year?

glow up. What about coolest moment of your year?

57:09

I have a fun one. So,

I have a fun one. So,

57:13

last year, my close one was all about me. This year, it's all about somebody else. So I have a buddy.

last year, my close one was all about me. This year, it's all about somebody else. So I have a buddy.

57:18

When I went to college with my buddy, Dan. And Dan,

When I went to college with my buddy, Dan. And Dan,

57:22

we started our first business together straight out of college. So we were, like, for three amigos.

we started our first business together straight out of college. So we were, like, for three amigos.

57:27

But then

But then

57:28

we, you know, that company wasn't really working out. And two of the three of us went to Australia and had this really cool opportunity, but, like, there wasn't really spot for Dan on that boat.

we, you know, that company wasn't really working out. And two of the three of us went to Australia and had this really cool opportunity, but, like, there wasn't really spot for Dan on that boat.

57:37

Meaning, like, you know, I got a spot, and I was able to get one other guy spot, but it was really too much for me to, like, convince this Australian billionaire why I need two of my friends to come with to go do this thing that was, like, kind of this unspecified project. And I felt bad about that. And I felt bad about that for, like, a decade, but I was, like, damn, I really wish, like,

Meaning, like, you know, I got a spot, and I was able to get one other guy spot, but it was really too much for me to, like, convince this Australian billionaire why I need two of my friends to come with to go do this thing that was, like, kind of this unspecified project. And I felt bad about that. And I felt bad about that for, like, a decade, but I was, like, damn, I really wish, like,

57:54

Even if he didn't come there, we had gotten him into a good landing spot before we made that decision. I felt like we kinda left, you know, no man left behind. We kinda left a man behind. I felt bad about that. I carried that guilt. He did totally fine, by the way. He went and got a job at Facebook. And he,

Even if he didn't come there, we had gotten him into a good landing spot before we made that decision. I felt like we kinda left, you know, no man left behind. We kinda left a man behind. I felt bad about that. I carried that guilt. He did totally fine, by the way. He went and got a job at Facebook. And he,

58:08

when he was at Facebook, he went from, like, the bottom to the top. The bottom was his job at Facebook initially was to, like, make sure that, like, no

when he was at Facebook, he went from, like, the bottom to the top. The bottom was his job at Facebook initially was to, like, make sure that, like, no

58:17

penis will show up on her news feed. So he's, like, building, like, penis detection, like, systems to, like, make sure that you know and by the way, you ever logged in to face when he's gonna penis? Never. He Dan did a great job. And so While he was there, he went and enrolled in the Facebook developer boot camp and, like, taught himself to code.

penis will show up on her news feed. So he's, like, building, like, penis detection, like, systems to, like, make sure that you know and by the way, you ever logged in to face when he's gonna penis? Never. He Dan did a great job. And so While he was there, he went and enrolled in the Facebook developer boot camp and, like, taught himself to code.

58:34

And, then he became then he went in the marketplace did a genius thing. His job application, he was like, well, I could say that I've been an engineer for two years. That's not really gonna get me that good of a job. So he's like, instead, he went out he reframed it. He goes,

And, then he became then he went in the marketplace did a genius thing. His job application, he was like, well, I could say that I've been an engineer for two years. That's not really gonna get me that good of a job. So he's like, instead, he went out he reframed it. He goes,

58:48

I'm a Facebook trained engineer.

I'm a Facebook trained engineer.

58:50

I know how to do engineering at Facebook. I can make your engineering team run, like, a Facebook engineering team. People loved it. He got a job as CTO of a startup that, went on to raise, you know, b round, c round, d round. But unfortunately, the start fizzled out. And I catch up with Dan, and I say, he's like, hey, man.

I know how to do engineering at Facebook. I can make your engineering team run, like, a Facebook engineering team. People loved it. He got a job as CTO of a startup that, went on to raise, you know, b round, c round, d round. But unfortunately, the start fizzled out. And I catch up with Dan, and I say, he's like, hey, man.

59:06

You know, unfortunately, my options, I thought we're gonna, you know, make me a bunch of money, didn't really work out.

You know, unfortunately, my options, I thought we're gonna, you know, make me a bunch of money, didn't really work out.

59:11

You got any other, like, kind of, I'm looking for a job. Let me know. And I said, you know, I met this guy, Andrew Wilkinson, and then I met this guy, Sali bulky, and I've been listening to this podcast that I create And it's all about there's a bunch of these people that are buying businesses. I said, Dan, have you ever considered buying a business? He's like, I don't even know where I would start. And I was like, I'm gonna help you. And I said, I'll I don't I don't know a ton about it, but I know more about it than you do. So, you know, like, let me be a blue belt and help a white belt here. And so

You got any other, like, kind of, I'm looking for a job. Let me know. And I said, you know, I met this guy, Andrew Wilkinson, and then I met this guy, Sali bulky, and I've been listening to this podcast that I create And it's all about there's a bunch of these people that are buying businesses. I said, Dan, have you ever considered buying a business? He's like, I don't even know where I would start. And I was like, I'm gonna help you. And I said, I'll I don't I don't know a ton about it, but I know more about it than you do. So, you know, like, let me be a blue belt and help a white belt here. And so

59:36

I basically helped Dan do this search process. I had no stake in it, no investment in it, except for this is one of my best friends from college.

I basically helped Dan do this search process. I had no stake in it, no investment in it, except for this is one of my best friends from college.

59:43

And

And

59:44

Dan bought a business. He bought a, so after six to nine months

Dan bought a business. He bought a, so after six to nine months

59:49

and several, like, close calls, but, you know, last minute, we said, no. No. This is not a great business. Don't buy it.

and several, like, close calls, but, you know, last minute, we said, no. No. This is not a great business. Don't buy it.

59:55

He buys this business, and he buys this bag manufacturer

He buys this business, and he buys this bag manufacturer

59:58

bag, like, bag sales company. I don't even know how you describe it. They don't make the bags. They they

bag, like, bag sales company. I don't even know how you describe it. They don't make the bags. They they

01:00:03

They get them made,

They get them made,

01:00:04

but they sell them to big retailers. So, like, if you go walk into, like, a, like, a Ulta.

but they sell them to big retailers. So, like, if you go walk into, like, a, like, a Ulta.

01:00:09

All the bags at Ulta,

All the bags at Ulta,

01:00:11

my boy Dan's company. And this guy had been running it for, you know, years. He had no contracts with any of these companies. He kind of ran it off pen and paper,

my boy Dan's company. And this guy had been running it for, you know, years. He had no contracts with any of these companies. He kind of ran it off pen and paper,

01:00:19

And so he my my friend Dan was able to negotiate and buy this business at a great price. And he just texted me yesterday saying,

And so he my my friend Dan was able to negotiate and buy this business at a great price. And he just texted me yesterday saying,

01:00:26

that he's only owned this business now for, like, three or four months.

that he's only owned this business now for, like, three or four months.

01:00:29

That in the just in the the sort of five months that'll be this year,

That in the just in the the sort of five months that'll be this year,

01:00:32

he will out of the profit of this business, after paying all the debt that he used to buy the business, he will make more than he made at

he will out of the profit of this business, after paying all the debt that he used to buy the business, he will make more than he made at

01:00:40

his highest paying job as CTO already in the first five months. And he's like, dude, the lifestyle is great. He's like, I'm kinda working more, but it's totally different, the totally different field. Right? Like, I own my own business.

his highest paying job as CTO already in the first five months. And he's like, dude, the lifestyle is great. He's like, I'm kinda working more, but it's totally different, the totally different field. Right? Like, I own my own business.

01:00:50

I come in every day. I'm excited. He's like, I see this path where we're gonna grow. He's like, I'm the bag. I'm Dan the bag man. And he's like, I can I could do this? And this can be, like, my, you know, like, my that I build. Because, like, he's, like, you know, even though I'm making one that I did with my job, it's even better because you can't ever sell your job. But with this, I know if I build this business up and it's making profits. One day, I could sell this business and cash out like a life changing sum for me. And I feel so good that I got to, you know, sit shotgun for him while he went on this ride.

I come in every day. I'm excited. He's like, I see this path where we're gonna grow. He's like, I'm the bag. I'm Dan the bag man. And he's like, I can I could do this? And this can be, like, my, you know, like, my that I build. Because, like, he's, like, you know, even though I'm making one that I did with my job, it's even better because you can't ever sell your job. But with this, I know if I build this business up and it's making profits. One day, I could sell this business and cash out like a life changing sum for me. And I feel so good that I got to, you know, sit shotgun for him while he went on this ride.

01:01:18

Kudos to Dan. What's the name of the company? Can you say?

Kudos to Dan. What's the name of the company? Can you say?

01:01:22

I don't know. But if you email me, I'll let you tell you to Dan. If you need bags for your business, Dan's gotcha. Mine's a bit mine doesn't have any great story. So, Andrew, I saw what you put. That is also mine, but I'm not gonna say that one. I'll go to the next one is actually the most important one. I had a kid this year. That was my that was the coolest moment this year.

I don't know. But if you email me, I'll let you tell you to Dan. If you need bags for your business, Dan's gotcha. Mine's a bit mine doesn't have any great story. So, Andrew, I saw what you put. That is also mine, but I'm not gonna say that one. I'll go to the next one is actually the most important one. I had a kid this year. That was my that was the coolest moment this year.

01:01:40

So I think Andrew, you you told me, what did you say? You said you're gonna feel so much

So I think Andrew, you you told me, what did you say? You said you're gonna feel so much

01:01:44

dopa me in every morning when you look at your kid,

dopa me in every morning when you look at your kid,

01:01:47

and I get it now. So now it's my turn to gatekeep people and tell people, like, oh, you'll understand when you have kids. You'll understand it. I understand a little bit, and it's been awesome. So that's mine. But, Andrew, do yours.

and I get it now. So now it's my turn to gatekeep people and tell people, like, oh, you'll understand when you have kids. You'll understand it. I understand a little bit, and it's been awesome. So that's mine. But, Andrew, do yours.

01:02:00

I think I said, It's like liquid MDMA gets shot into your brain every time you look at your bait. Yeah. It's awesome, man. It's and it's brought me closer to my wife too. I have more know, I've already I always respected her, but now there's more, like, of a of a spiritual respect. It's kinda funny. But what's yours? Totally.

I think I said, It's like liquid MDMA gets shot into your brain every time you look at your bait. Yeah. It's awesome, man. It's and it's brought me closer to my wife too. I have more know, I've already I always respected her, but now there's more, like, of a of a spiritual respect. It's kinda funny. But what's yours? Totally.

01:02:19

So, yeah, we had our first ever live MFM in Vancouver.

So, yeah, we had our first ever live MFM in Vancouver.

01:02:23

What was that? February, I guess,

What was that? February, I guess,

01:02:26

this year,

this year,

01:02:27

And

And

01:02:28

I kinda put it on, like, so I I, like, you know, texted you guys and I was like, hey. We wanna do this event. Let's do it in Vancouver. We rented this huge theater, and I remember getting the photo of the theater and sending it to you. And we were just like, holy shit. Like, how are we gonna fill this thing? Or I was really nervous about it. And,

I kinda put it on, like, so I I, like, you know, texted you guys and I was like, hey. We wanna do this event. Let's do it in Vancouver. We rented this huge theater, and I remember getting the photo of the theater and sending it to you. And we were just like, holy shit. Like, how are we gonna fill this thing? Or I was really nervous about it. And,

01:02:45

we I remember we were backstage,

we I remember we were backstage,

01:02:47

and we were, like, peeking out. And the entire theater was packed. There was a line. Yeah. It was crazy. Like, It was really, really crazy. And this was, like, just a massive multilevel theater. And Sam see, like, twelve hundred people. Twelve hundred, thirteen hundred people or something. And I remember Sam was, like, we're backstage and he goes, I don't use Facebook, but I do today because I want everyone in high school to see that I filled a theater. I need to post a photo of,

and we were, like, peeking out. And the entire theater was packed. There was a line. Yeah. It was crazy. Like, It was really, really crazy. And this was, like, just a massive multilevel theater. And Sam see, like, twelve hundred people. Twelve hundred, thirteen hundred people or something. And I remember Sam was, like, we're backstage and he goes, I don't use Facebook, but I do today because I want everyone in high school to see that I filled a theater. I need to post a photo of,

01:03:12

of, of, like, the

of, of, like, the

01:03:14

I just love that. That was such a great moment. There I remember,

I just love that. That was such a great moment. There I remember,

01:03:17

Sam, you posted this photo of Alexis Elhanian with Serena Williams, and he just looks like a, like, a, like, a pasty white nerd with this, like, beautiful like, beautiful,

Sam, you posted this photo of Alexis Elhanian with Serena Williams, and he just looks like a, like, a, like, a pasty white nerd with this, like, beautiful like, beautiful,

01:03:27

Amazon.

Amazon.

01:03:29

And you go, the nerds win. And in that moment, I was like, okay. The nerds won.

And you go, the nerds win. And in that moment, I was like, okay. The nerds won.

01:03:33

Yeah. He didn't like I said that, by the way. He was

Yeah. He didn't like I said that, by the way. He was

01:03:36

not a fan, but it was awesome that we sold out that theater. That that was a really exciting thing. And you did the dumbest thing ever. You made people pay But then you gave the money back if they showed up, people would have just paid.

not a fan, but it was awesome that we sold out that theater. That that was a really exciting thing. And you did the dumbest thing ever. You made people pay But then you gave the money back if they showed up, people would have just paid.

01:03:47

Yeah. I know. In retrospect, we should have charged.

Yeah. I know. In retrospect, we should have charged.

01:03:51

Let's go to breakout of the year, Sean.

Let's go to breakout of the year, Sean.

01:03:54

What do you what do you have? Mine's real simple.

What do you what do you have? Mine's real simple.

01:03:56

Breakout of the year. I think has to be

Breakout of the year. I think has to be

01:03:59

ozempic.

ozempic.

01:04:01

I feel like Ozempic kinda changed the world.

I feel like Ozempic kinda changed the world.

01:04:05

It's not just like a tech thing or a business thing, like, ozempic is everywhere,

It's not just like a tech thing or a business thing, like, ozempic is everywhere,

01:04:11

and and there's

and and there's

01:04:12

I don't know. The jury's still out on it, but there's a lot of evidence that even if Ozempic has, you know, maybe side effects or you gotta stay on it to maintain the gains or whatever,

I don't know. The jury's still out on it, but there's a lot of evidence that even if Ozempic has, you know, maybe side effects or you gotta stay on it to maintain the gains or whatever,

01:04:22

like,

like,

01:04:23

that people not being obese and people not being sort of, controlled by their cravings, whether it's for food, or they're even seeing maybe effects for for alcoholism,

that people not being obese and people not being sort of, controlled by their cravings, whether it's for food, or they're even seeing maybe effects for for alcoholism,

01:04:33

That seems just like a really, really big deal. And I kind of it's kind of the cliche idea. It's like, what if what if there was the magic weight loss pill?

That seems just like a really, really big deal. And I kind of it's kind of the cliche idea. It's like, what if what if there was the magic weight loss pill?

01:04:40

And now they're kind of his.

And now they're kind of his.

01:04:41

That's mind blowing to me that there we did it. There is a magic weight loss pill. Well, I was picking between Brett Taylor and Ozempic and So Sean, do you remember how you first heard about Ozempic? I think it was June of two thousand twenty two. I texted you and I was like, There's this drug called semaglutide.

That's mind blowing to me that there we did it. There is a magic weight loss pill. Well, I was picking between Brett Taylor and Ozempic and So Sean, do you remember how you first heard about Ozempic? I think it was June of two thousand twenty two. I texted you and I was like, There's this drug called semaglutide.

01:04:58

It's I'm in New York and it's, like, kinda popular amongst, like, only a small group of, like, weird biohackers.

It's I'm in New York and it's, like, kinda popular amongst, like, only a small group of, like, weird biohackers.

01:05:04

I'm gonna try it. And I tried it. And I remember messaging you or maybe what I even said on the pod, I'm like, for some, you know, I've got I had drinking issues and time ago, but I was like, for some reason, I even feel, like, I think this might, like, share that too. You called it a hundred percent. Not not only do you show you you showed me a picture, and I was like, That's incredible. You go.

I'm gonna try it. And I tried it. And I remember messaging you or maybe what I even said on the pod, I'm like, for some, you know, I've got I had drinking issues and time ago, but I was like, for some reason, I even feel, like, I think this might, like, share that too. You called it a hundred percent. Not not only do you show you you showed me a picture, and I was like, That's incredible. You go.

01:05:24

To you go. I started this semi glue type thing. I was like, dude, you, like, never heard of this. Like, you know, yeah. I just inject this thing. I mean, And I'm like, bro, you just inject random shit into you. Like, that's not smart.

To you go. I started this semi glue type thing. I was like, dude, you, like, never heard of this. Like, you know, yeah. I just inject this thing. I mean, And I'm like, bro, you just inject random shit into you. Like, that's not smart.

01:05:35

But you were totally on it. And then you said the I think it's gonna cure alcoholism. And I remember literally Like, I didn't wanna laugh in your face. But I remember laughing inside being like,

But you were totally on it. And then you said the I think it's gonna cure alcoholism. And I remember literally Like, I didn't wanna laugh in your face. But I remember laughing inside being like,

01:05:45

dude, that's just, like, sounds like a crazy leap. You know, you can't just say that shit. That there's no evidence of that. I just felt it. I could feel it when I so I don't use it anymore, but I tested it for a small amount of time. And this is semaglutide. That's the name of the drug or the don't know how you even explained it. The the the root drug, and then there's Ozempic is the brand name. But I remember, like, putting that in my body, and I'm like,

dude, that's just, like, sounds like a crazy leap. You know, you can't just say that shit. That there's no evidence of that. I just felt it. I could feel it when I so I don't use it anymore, but I tested it for a small amount of time. And this is semaglutide. That's the name of the drug or the don't know how you even explained it. The the the root drug, and then there's Ozempic is the brand name. But I remember, like, putting that in my body, and I'm like,

01:06:06

I think this is gonna cure alcoholism because you don't crave anything.

I think this is gonna cure alcoholism because you don't crave anything.

01:06:10

And I think what's gonna happen is in ten years, we're gonna see downsides to this drug because right now there's, like, very few or at least it's impacting only a small amount of people. So I think that, like, there's still gonna be downsides, but

And I think what's gonna happen is in ten years, we're gonna see downsides to this drug because right now there's, like, very few or at least it's impacting only a small amount of people. So I think that, like, there's still gonna be downsides, but

01:06:22

I think that what it's got. Galloway said, he goes, it's not chat, g p t. It's GLP one. That's the big thing. GLP one, this drug class is gonna be way bigger than chat GPT. And I and I agree with him. I think that's a breakout of the year. What's yours,

I think that what it's got. Galloway said, he goes, it's not chat, g p t. It's GLP one. That's the big thing. GLP one, this drug class is gonna be way bigger than chat GPT. And I and I agree with him. I think that's a breakout of the year. What's yours,

01:06:36

Andrew? Yeah. That's like anti depressants or something.

Andrew? Yeah. That's like anti depressants or something.

01:06:40

So mine mine is pretty boring. It's a company called Snipt, and it's a podcast player. And I don't know if you guys have this problem, but often I'll be driving. That's when I listen to pod past most. And I'll hear something incredible,

So mine mine is pretty boring. It's a company called Snipt, and it's a podcast player. And I don't know if you guys have this problem, but often I'll be driving. That's when I listen to pod past most. And I'll hear something incredible,

01:06:52

like a great quote or just a a great line or something I wanna follow-up on later. And until recently, I've either

like a great quote or just a a great line or something I wanna follow-up on later. And until recently, I've either

01:06:59

just forgotten it. Basically, it goes out, the other side of my head. Or occasionally, I would pull over my car and I'd make a note or something like that. And SnIP basically solves that. So what SnIP does is it has an AI that

just forgotten it. Basically, it goes out, the other side of my head. Or occasionally, I would pull over my car and I'd make a note or something like that. And SnIP basically solves that. So what SnIP does is it has an AI that

01:07:14

basically takes the transcript. It does

basically takes the transcript. It does

01:07:17

like voice recognition on the transcript of the podcast, it pulls out all the key moments. So a, let's say that you wanna listen to a Joe rogan interview, but it's three hours. And you only really wanna talk hear them talk about stuff that is an MMA, you can jump in or whatever. But then also when you hear something interesting, you can tap a little button in car play or your phone, and it'll actually grab the text for whatever it was just said. And I found that incredibly useful, and all my nerdy friends that are into, like, journaling and read wise and all that stuff are going crazy for it. So I love that product. You're on the homepage,

like voice recognition on the transcript of the podcast, it pulls out all the key moments. So a, let's say that you wanna listen to a Joe rogan interview, but it's three hours. And you only really wanna talk hear them talk about stuff that is an MMA, you can jump in or whatever. But then also when you hear something interesting, you can tap a little button in car play or your phone, and it'll actually grab the text for whatever it was just said. And I found that incredibly useful, and all my nerdy friends that are into, like, journaling and read wise and all that stuff are going crazy for it. So I love that product. You're on the homepage,

01:07:50

a testimonial from you.

a testimonial from you.

01:07:52

Oh, really?

Oh, really?

01:07:53

Yeah. They apparently

Yeah. They apparently

01:07:55

I haven't invested or anything. You've tweeted it out and they used their tweet. And I think MFM is Yeah. MFM is on here too. That's pretty cool. Sam, you had you had a snipped moment last pod where somebody was like, yeah, VARDA is this crazy company. They

I haven't invested or anything. You've tweeted it out and they used their tweet. And I think MFM is Yeah. MFM is on here too. That's pretty cool. Sam, you had you had a snipped moment last pod where somebody was like, yeah, VARDA is this crazy company. They

01:08:09

And we were like, what do they even do? They go they go to yeah. They're manufacturing

And we were like, what do they even do? They go they go to yeah. They're manufacturing

01:08:14

drugs in space.

drugs in space.

01:08:16

The same goes.

The same goes.

01:08:17

There's a pause. He goes,

There's a pause. He goes,

01:08:19

Why?

Why?

01:08:20

Like, I guess,

Like, I guess,

01:08:22

what? Like, what's

what? Like, what's

01:08:23

why do you have to manufacture drugs in space? Like, what's wrong with Massachusetts?

why do you have to manufacture drugs in space? Like, what's wrong with Massachusetts?

01:08:30

I still haven't gotten a good answer. I'm sure it exists. Strong with Massachusetts is just that is incredible incredible content.

I still haven't gotten a good answer. I'm sure it exists. Strong with Massachusetts is just that is incredible incredible content.

01:08:36

This is the end of the Millia Awards. Congratulations

This is the end of the Millia Awards. Congratulations

01:08:39

folks. This is, the end of two thousand twenty three. It's already two thousand twenty four. Which is crazy. I saw someone say,

folks. This is, the end of two thousand twenty three. It's already two thousand twenty four. Which is crazy. I saw someone say,

01:08:46

a professor was like, hey, you you can use,

a professor was like, hey, you you can use,

01:08:49

sources in your paper from the previous century.

sources in your paper from the previous century.

01:08:52

And this person, the student wrote in, and she goes,

And this person, the student wrote in, and she goes,

01:08:55

hey, it I was gonna do something from the late, twentieth century is nineteen ninety six Is that too old to use?

hey, it I was gonna do something from the late, twentieth century is nineteen ninety six Is that too old to use?

01:09:03

So if you're born in two thousand, you're already twenty four. I can't believe we're going into that year. Dude, that's us now. Too old to use. Yeah. It's crazy.

So if you're born in two thousand, you're already twenty four. I can't believe we're going into that year. Dude, that's us now. Too old to use. Yeah. It's crazy.

01:09:12

Well, that's it. That's the pod. Congrats fellas.

Well, that's it. That's the pod. Congrats fellas.

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