00:00

Sean, I wanna show you three things, things that I've read in the past week or two that have inspired me. You want me to start with the I'm gonna start with strangeest one. I'm gonna get it out the way.

Sean, I wanna show you three things, things that I've read in the past week or two that have inspired me. You want me to start with the I'm gonna start with strangeest one. I'm gonna get it out the way.

00:19

You listened to Theo Von's podcast?

You listened to Theo Von's podcast?

00:22

Not the full. I listened to clips. Do you listen to the full thing? I listened to the full thing sometimes, and there was one that what happened the other day that I sat and watched the entire thing. I think it was two hours long.

Not the full. I listened to clips. Do you listen to the full thing? I listened to the full thing sometimes, and there was one that what happened the other day that I sat and watched the entire thing. I think it was two hours long.

00:34

You're gonna laugh when I tell you who it is, but his episode with kid rock was

You're gonna laugh when I tell you who it is, but his episode with kid rock was

00:40

awesome. So do you know anything about kid rock?

awesome. So do you know anything about kid rock?

00:43

I'm gonna say I don't know anywhere near as much as you know. That's it. Dude, I could safely assume that

I'm gonna say I don't know anywhere near as much as you know. That's it. Dude, I could safely assume that

00:49

hands down. I bet my life savings on that. I have been a fan of kid rock's forever.

hands down. I bet my life savings on that. I have been a fan of kid rock's forever.

00:54

I've been a kid rock fan for a very long time. And kid rock is a very fascinating guy. So he's, like, born in Detroit, had this whole, like, wrap thing. It's kinda wrap whatever it was, whatever you wanna call that genre.

I've been a kid rock fan for a very long time. And kid rock is a very fascinating guy. So he's, like, born in Detroit, had this whole, like, wrap thing. It's kinda wrap whatever it was, whatever you wanna call that genre.

01:06

But the reason he's fascinating is the guys who sold a lot of records in the late nineties are some of the richest musicians out there because CDs were, like, twenty two dollars. How much how much were CDs when we were kids? Like, twenty bucks. Right?

But the reason he's fascinating is the guys who sold a lot of records in the late nineties are some of the richest musicians out there because CDs were, like, twenty two dollars. How much how much were CDs when we were kids? Like, twenty bucks. Right?

01:20

Yeah. CDs were, like, really expensive. Really expensive. And they cost like a dollar. They cost like a dollar to make.

Yeah. CDs were, like, really expensive. Really expensive. And they cost like a dollar. They cost like a dollar to make.

01:25

And so kid rock has sold something like forty million albums.

And so kid rock has sold something like forty million albums.

01:29

Which is a shitload of albums. And he went on Theo's, Theo Van's podcast and about halfway through he starts talking he starts talking all about business, and he's done some amazing things. So let me tell you a few amazing things that Kidrak has done. Kidrak at this point He's kinda like nickelback where people make fun of him, or they make fun of you for even kind of liking him, and it's kind of a joke. Dude, he's a super savvy guy. So listen to a listen to a few things that he's done. Have you ever heard of the, kid rock cruise?

Which is a shitload of albums. And he went on Theo's, Theo Van's podcast and about halfway through he starts talking he starts talking all about business, and he's done some amazing things. So let me tell you a few amazing things that Kidrak has done. Kidrak at this point He's kinda like nickelback where people make fun of him, or they make fun of you for even kind of liking him, and it's kind of a joke. Dude, he's a super savvy guy. So listen to a listen to a few things that he's done. Have you ever heard of the, kid rock cruise?

02:00

No. So kid rock has a cruise that he does every year, and you pay, like

No. So kid rock has a cruise that he does every year, and you pay, like

02:06

you pay, like, three thousand dollars and you go on a cruise for, like, four or five days, and he goes on the cruise with you, and he plays music every day. For the cruise. It's an amazing,

you pay, like, three thousand dollars and you go on a cruise for, like, four or five days, and he goes on the cruise with you, and he plays music every day. For the cruise. It's an amazing,

02:18

like, a thing for What's your name? It's the kid rock chilling the most cruise.

like, a thing for What's your name? It's the kid rock chilling the most cruise.

02:23

I feel like you needed to say that. It's so funny what he does. And so he's been doing this for, like, ten years now or fifteen years now. I think since the two thousand ten or so. And so that kills him. Listen to a few other things he's got going on. He has the kid rock rodeo. That's his new thing. And so do you know anything about rodeo?

I feel like you needed to say that. It's so funny what he does. And so he's been doing this for, like, ten years now or fifteen years now. I think since the two thousand ten or so. And so that kills him. Listen to a few other things he's got going on. He has the kid rock rodeo. That's his new thing. And so do you know anything about rodeo?

02:42

I mean, you're just embarrassing me at this point. No. I don't know anything about right. I don't know anything about kid rock. I don't know about his cruise. I don't know about his rodeo. You can you could skip the questions of Do I know about kid rock's extensive business portfolio? I do not. You've never been to a rodeo, but you've never been. I lived in Texas for an ten years, and I did not. No. I used to go to them in California at the the the cow palace. Do you remember the cow palace? I was like, a different group.

I mean, you're just embarrassing me at this point. No. I don't know anything about right. I don't know anything about kid rock. I don't know about his cruise. I don't know about his rodeo. You can you could skip the questions of Do I know about kid rock's extensive business portfolio? I do not. You've never been to a rodeo, but you've never been. I lived in Texas for an ten years, and I did not. No. I used to go to them in California at the the the cow palace. Do you remember the cow palace? I was like, a different group.

03:06

Dude, the cow palace, it's this veggie,

Dude, the cow palace, it's this veggie,

03:09

like, literally two miles outside of the city of San Francisco. And you go just two miles outside of San Francisco, and you're at the roadie for the night, and you're in Redneck heaven.

like, literally two miles outside of the city of San Francisco. And you go just two miles outside of San Francisco, and you're at the roadie for the night, and you're in Redneck heaven.

03:17

And so I used to go there go to it all the time. It's so fun. I used to go to dog shows there. They have dog shows. I used to go and watch like the the dog shows and just look at all the Swiss mountain dogs that shit, it so fun.

And so I used to go there go to it all the time. It's so fun. I used to go to dog shows there. They have dog shows. I used to go and watch like the the dog shows and just look at all the Swiss mountain dogs that shit, it so fun.

03:27

And so, anyway, kid rock now has the kid rock rodeo,

And so, anyway, kid rock now has the kid rock rodeo,

03:31

which freaking kills it because rodeo is up and coming. You know who owns the PBR. It's same company that owns. Never. Yeah. Endeavor. Because it kills it. Well, kid rock has started his own rodeo and it has, like, teams, which is, like, kind of a new aspect of rodeo. And it's also killing it. And I and he starts talking about the business of this rodeo. This guy is super, super savvy. He talks about how a owner came to him and was like, hey, we're gonna new rodeo, do you wanna buy a team? It costs twenty million dollars to buy into the, into the league and to start a rodeo team. He goes, no, I don't wanna do that. But what if I just help you start the whole league and I own the league with you? And that's what he's done. And now he has a kid rock rodeo where he goes and he performs at the rodeo. It's very, very fast knitting. And then finally,

which freaking kills it because rodeo is up and coming. You know who owns the PBR. It's same company that owns. Never. Yeah. Endeavor. Because it kills it. Well, kid rock has started his own rodeo and it has, like, teams, which is, like, kind of a new aspect of rodeo. And it's also killing it. And I and he starts talking about the business of this rodeo. This guy is super, super savvy. He talks about how a owner came to him and was like, hey, we're gonna new rodeo, do you wanna buy a team? It costs twenty million dollars to buy into the, into the league and to start a rodeo team. He goes, no, I don't wanna do that. But what if I just help you start the whole league and I own the league with you? And that's what he's done. And now he has a kid rock rodeo where he goes and he performs at the rodeo. It's very, very fast knitting. And then finally,

04:15

have you ever been to Nashville?

have you ever been to Nashville?

04:17

Nope. Okay.

Nope. Okay.

04:21

So on in Nashville, in downtown Nashville, where I used to live, there's a street crawl called Broadway, and that's where all of the honky tonks are. Honky talks are basically, like, these kinda crappy dirty bars with bright lights, and they call it NASH Vegas. It, like, looks like it's Las Vegas. I We used to go on Saturday and Sunday nights and try to, like, meet all the bachelor at parties. It was like a thing when you're in college. And so kid rock, about ten years ago, started this thing called, the kid rock honky tonk.

So on in Nashville, in downtown Nashville, where I used to live, there's a street crawl called Broadway, and that's where all of the honky tonks are. Honky talks are basically, like, these kinda crappy dirty bars with bright lights, and they call it NASH Vegas. It, like, looks like it's Las Vegas. I We used to go on Saturday and Sunday nights and try to, like, meet all the bachelor at parties. It was like a thing when you're in college. And so kid rock, about ten years ago, started this thing called, the kid rock honky tonk.

04:49

And at this point, that bar,

And at this point, that bar,

04:51

it sells something like fifteen thousand beers

it sells something like fifteen thousand beers

04:55

a night.

a night.

04:56

And

And

04:57

yes.

yes.

04:57

Yes. I don't know how many beers a normal bar sales, but that number sounds like a lot. It's a huge amount, man. And,

Yes. I don't know how many beers a normal bar sales, but that number sounds like a lot. It's a huge amount, man. And,

05:03

the business is doing I I was reading about it. The business does something like this one bar, this one location, thirty million dollars a year in revenue.

the business is doing I I was reading about it. The business does something like this one bar, this one location, thirty million dollars a year in revenue.

05:12

It's insane.

It's insane.

05:13

This one it's it's a one it's a it's like a three story bar, you know, in this main strip of Nashville.

This one it's it's a one it's a it's like a three story bar, you know, in this main strip of Nashville.

05:20

Is kid rock our billy of the week, actually?

Is kid rock our billy of the week, actually?

05:23

Kid rock is so fascinating. And on this podcast, he breaks down a bunch of the businesses And he's like, a lot of people think that I'm partying stuff like that. He goes, I don't I don't even drink that much. I wake up at four AM. I do a cold plunge. I do a sauna. I do a workout.

Kid rock is so fascinating. And on this podcast, he breaks down a bunch of the businesses And he's like, a lot of people think that I'm partying stuff like that. He goes, I don't I don't even drink that much. I wake up at four AM. I do a cold plunge. I do a sauna. I do a workout.

05:37

I swear to god. This is what kid rock is saying. He goes, Michael. He's like, I wrote my morning gratitude journal.

I swear to god. This is what kid rock is saying. He goes, Michael. He's like, I wrote my morning gratitude journal.

05:43

He's like, then I do the next thing. Dude, he's so much more put together than a lot of people give him credit to, like, give him credit for. And this podcast with Theo Von, with kid rock, it's so good. You have to listen to it. It's hilarious.

He's like, then I do the next thing. Dude, he's so much more put together than a lot of people give him credit to, like, give him credit for. And this podcast with Theo Von, with kid rock, it's so good. You have to listen to it. It's hilarious.

05:55

Does he talk about all these business things on the pot or you look those up? No. He talks about a bunch of them. He talks about he's like a really savvy business guy in Austin Reef. Our friend Austin Reef kid Rock and is, like, I guess he has a family office. If I had to guess, I bet you kidrock is worth about three hundred million dollars.

Does he talk about all these business things on the pot or you look those up? No. He talks about a bunch of them. He talks about he's like a really savvy business guy in Austin Reef. Our friend Austin Reef kid Rock and is, like, I guess he has a family office. If I had to guess, I bet you kidrock is worth about three hundred million dollars.

06:10

Austin Reef went to kidrock's house, in Nashville because he was organizing a thing for startup entrepreneurs because he wants to find cool companies to invest in. Listen to this. His home

Austin Reef went to kidrock's house, in Nashville because he was organizing a thing for startup entrepreneurs because he wants to find cool companies to invest in. Listen to this. His home

06:21

his home in Tennessee

his home in Tennessee

06:22

is a replica of the White House.

is a replica of the White House.

06:27

This guy it's basically, like, a redneck with all

This guy it's basically, like, a redneck with all

06:31

this money doing exactly what they wanna do. It's hilarious, and he talks about his White House home on,

this money doing exactly what they wanna do. It's hilarious, and he talks about his White House home on,

06:37

in Nashville.

in Nashville.

06:38

And I'll tell you one last thing. So I'm such a kid rock fan that I heard a rumor that his when I went to Belmont University from two thousand twenty twelve, I heard a rumor that his son went there. And so I did a little googling, and I found out what his son looks like. And so I spent months on campus just looking for Bobby Junior. That was his name.

And I'll tell you one last thing. So I'm such a kid rock fan that I heard a rumor that his when I went to Belmont University from two thousand twenty twelve, I heard a rumor that his son went there. And so I did a little googling, and I found out what his son looks like. And so I spent months on campus just looking for Bobby Junior. That was his name.

06:56

Because kid rec's name is Bob, Bobby Junior, and I'll I spend months. I'm like, I gotta find this kid. It would as soon as I see him, I'm gonna go up and I'm just gonna shake his head and tell him, hi. Just the most the the lamest thing you could imagine. Well, I finally see him on a Friday night when I'm just blackout drunk. Like, I barely remember it. And I see him. I go, Bobby,

Because kid rec's name is Bob, Bobby Junior, and I'll I spend months. I'm like, I gotta find this kid. It would as soon as I see him, I'm gonna go up and I'm just gonna shake his head and tell him, hi. Just the most the the lamest thing you could imagine. Well, I finally see him on a Friday night when I'm just blackout drunk. Like, I barely remember it. And I see him. I go, Bobby,

07:15

huge fan, and I'm slurring my words. I love your father. I put my arm on his, like, shoulder, and I go, here, take my number, and I grab his phone, and I and I type my number in his phone, and I text myself.

huge fan, and I'm slurring my words. I love your father. I put my arm on his, like, shoulder, and I go, here, take my number, and I grab his phone, and I and I type my number in his phone, and I text myself.

07:27

And then I just try to, like,

And then I just try to, like,

07:29

forced myself to on this kid to be his friend. I think I was, like, a junior. He was a freshman, and I just looked like the biggest asshole

forced myself to on this kid to be his friend. I think I was, like, a junior. He was a freshman, and I just looked like the biggest asshole

07:36

And I just tried to force myself on him, and shockingly, it didn't work. But I've been a big I've been a big big kid rock fan for years. And this podcast was awesome. With theo von, you have to listen to it.

And I just tried to force myself on him, and shockingly, it didn't work. But I've been a big I've been a big big kid rock fan for years. And this podcast was awesome. With theo von, you have to listen to it.

07:48

Okay. That was a great sales pitch. Also, I like take my number. Think take my number is just a very underutilized

Okay. That was a great sales pitch. Also, I like take my number. Think take my number is just a very underutilized

07:55

way of of forcing a connection with anybody.

way of of forcing a connection with anybody.

07:58

Here here here. Do you have a phone? Take my number.

Here here here. Do you have a phone? Take my number.

08:03

It's because I grabbed his phone so I could text myself to make sure that I got his. Yeah. The real number. Yeah. It was so embarrassing that I did this, but, yeah, that that's my kid rock story.

It's because I grabbed his phone so I could text myself to make sure that I got his. Yeah. The real number. Yeah. It was so embarrassing that I did this, but, yeah, that that's my kid rock story.

08:13

Alright. Amazing.

Alright. Amazing.

08:15

I'm tempted to just end the podcast right there and, and just go book kid rock as a guest, but I'll I'll give you a couple things that I'm I'm into. No where near as entertaining as that right now. But you

I'm tempted to just end the podcast right there and, and just go book kid rock as a guest, but I'll I'll give you a couple things that I'm I'm into. No where near as entertaining as that right now. But you

08:26

You know, my understanding was kind of like what you're saying is, I'm watching some different content, weird content, new info diet.

You know, my understanding was kind of like what you're saying is, I'm watching some different content, weird content, new info diet.

08:32

I wanna tell you some of the things I'm doing with my info diet. So I'm gonna give you the the chapter titles of this, and then you get to pick which one you want me to explain. So here's the chapter titles of how how I'm consuming content. Number one. Older is better.

I wanna tell you some of the things I'm doing with my info diet. So I'm gonna give you the the chapter titles of this, and then you get to pick which one you want me to explain. So here's the chapter titles of how how I'm consuming content. Number one. Older is better.

08:46

Number two.

Number two.

08:48

Look to the left.

Look to the left.

08:50

Number three, more with less.

Number three, more with less.

08:52

And number four

And number four

08:54

oh, I actually have five. Four. Pay for learning and five.

oh, I actually have five. Four. Pay for learning and five.

08:58

Early arbitrage

Early arbitrage

08:59

exploit.

exploit.

09:00

Which one do you want me to talk about? Number one, number five, number four.

Which one do you want me to talk about? Number one, number five, number four.

09:05

Alright. Number one is older is better. Okay. So older is better,

Alright. Number one is older is better. Okay. So older is better,

09:08

in general, I'm trying to get away from the news feed. Right? The news feed is in many ways like the actual, like, news. I don't watch the news for for the same reason, which is, you know, the news is a entertainment program designed to basically just, like, find random problems in the world and then just shove them in your face. And Twitter, Facebook, Instagram, these are all kind of the same way where people are like, here, here's my life, and you just throw, you know, here's what I'm thinking right right now. And it's useful to a degree, but

in general, I'm trying to get away from the news feed. Right? The news feed is in many ways like the actual, like, news. I don't watch the news for for the same reason, which is, you know, the news is a entertainment program designed to basically just, like, find random problems in the world and then just shove them in your face. And Twitter, Facebook, Instagram, these are all kind of the same way where people are like, here, here's my life, and you just throw, you know, here's what I'm thinking right right now. And it's useful to a degree, but

09:36

it's more addictive than it is useful.

it's more addictive than it is useful.

09:38

And,

And,

09:40

My solution is not to just go detox and be like, oh, I just put my phone on silent and leave it in the other room, and I just, you know, enjoy nature. That's not really me either. I gotta substitute it with something else. Right? And so my substitute

My solution is not to just go detox and be like, oh, I just put my phone on silent and leave it in the other room, and I just, you know, enjoy nature. That's not really me either. I gotta substitute it with something else. Right? And so my substitute

09:53

is

is

09:54

I found, I was like, what do I wanna read that's shorter than a book

I found, I was like, what do I wanna read that's shorter than a book

09:58

that's as informational as, like, you know, reading an annual,

that's as informational as, like, you know, reading an annual,

10:03

like, a s one or, like,

like, a s one or, like,

10:06

a annual report for some company, like, like, an investor would, like a Warren Buffett would, but still has some juice, still has some story. And I found that annual letters. Annual shareholder letters or annual reviews of people

a annual report for some company, like, like, an investor would, like a Warren Buffett would, but still has some juice, still has some story. And I found that annual letters. Annual shareholder letters or annual reviews of people

10:19

is just a really fascinating place to go look. I get What's the difference between a annual and an annual letter. So one is typically when you have shareholders or LPs, that's when you're writing an annual shareholder letter. Right? Because you you have your your investors or you have your shareholders that you are looking out for. So this is like buffet's letters, Jeff Bezos's letters. I'll give you a really good one that I found. The Nick Sleep letters. You've probably never heard of this guy. Who's this guy? Fascinating guy. When I when I did the podcast with Monish Pabry, he mentioned Nick Sleep and, like, I don't know the full story. I just started looking because I found, like, ten years of this guy's annual letters. But the short story is him and his him and his buddy basically

is just a really fascinating place to go look. I get What's the difference between a annual and an annual letter. So one is typically when you have shareholders or LPs, that's when you're writing an annual shareholder letter. Right? Because you you have your your investors or you have your shareholders that you are looking out for. So this is like buffet's letters, Jeff Bezos's letters. I'll give you a really good one that I found. The Nick Sleep letters. You've probably never heard of this guy. Who's this guy? Fascinating guy. When I when I did the podcast with Monish Pabry, he mentioned Nick Sleep and, like, I don't know the full story. I just started looking because I found, like, ten years of this guy's annual letters. But the short story is him and his him and his buddy basically

10:55

started buying stocks, started, investing on behalf of other people did so well over, like, a ten to fifteen year period that they ended up just, like, you know, retiring.

started buying stocks, started, investing on behalf of other people did so well over, like, a ten to fifteen year period that they ended up just, like, you know, retiring.

11:05

And his portfolio at the end was, like, Amazon, Costco, and Berkshire Hathaway.

And his portfolio at the end was, like, Amazon, Costco, and Berkshire Hathaway.

11:10

Get three stocks by the end. And I just love somebody who can

Get three stocks by the end. And I just love somebody who can

11:14

absolutely crush the market. He absolutely crushed in terms of performance.

absolutely crush the market. He absolutely crushed in terms of performance.

11:19

And did it without, like, going, like, working really hard or going into some obscure rabbit hole. He just identified correctly early on that Amazon, Costco, and Berkshire were good bets to to be in. And he just stayed with those, rode those ponies till the end. It's it's pretty pretty insane. He did other things, but, like, that was where he ended. And I found that fascinating. Hubic was the portfolio?

And did it without, like, going, like, working really hard or going into some obscure rabbit hole. He just identified correctly early on that Amazon, Costco, and Berkshire were good bets to to be in. And he just stayed with those, rode those ponies till the end. It's it's pretty pretty insane. He did other things, but, like, that was where he ended. And I found that fascinating. Hubic was the portfolio?

11:37

Did these guys got filthy right? I I don't know exactly how much how much assets I have off the top of my head, but,

Did these guys got filthy right? I I don't know exactly how much how much assets I have off the top of my head, but,

11:42

you know, basically, in a in a very short period of time, you know, got filthy rich. So I've I just started these letters. I just read the first one, last night. So pretty it's fresh right now. I like Nick Sleep. When you Google, the first thing that comes up, by the way, is, his legendary letters.

you know, basically, in a in a very short period of time, you know, got filthy rich. So I've I just started these letters. I just read the first one, last night. So pretty it's fresh right now. I like Nick Sleep. When you Google, the first thing that comes up, by the way, is, his legendary letters.

11:58

Exactly. The letters is what and I think some people have, like, maybe bounded into a kindle book as well. Like and, you know, whenever it's something like that, like, the last time it was like this, it was the boron letters. It's a cruise to the war on letters. Well, this guy was like one of the best copywriters. He wrote a bunch of letters from jail to his son. It's like, dude, I'm in. This sounds like, you know, season two of prison break mixed with you know, my copywriting course. I'm in. You know, like, give give me that. And so, I'm really into these annual shareholders or or annual reviews. So we have a few friends.

Exactly. The letters is what and I think some people have, like, maybe bounded into a kindle book as well. Like and, you know, whenever it's something like that, like, the last time it was like this, it was the boron letters. It's a cruise to the war on letters. Well, this guy was like one of the best copywriters. He wrote a bunch of letters from jail to his son. It's like, dude, I'm in. This sounds like, you know, season two of prison break mixed with you know, my copywriting course. I'm in. You know, like, give give me that. And so, I'm really into these annual shareholders or or annual reviews. So we have a few friends.

12:25

Sayed bulky does this. Every year, he posts a annual review on his blog. And he just goes back and he just says, here's what I did this year. Here are some of the highlights, here's some of the low lights, whatever. Nathan Barry from ConvertKit does the same thing. He po posts this on his blog, and he'll be like, you know, thing one, my family, thing two, ConvertKit. Thing three, I bought some Airbnbs.

Sayed bulky does this. Every year, he posts a annual review on his blog. And he just goes back and he just says, here's what I did this year. Here are some of the highlights, here's some of the low lights, whatever. Nathan Barry from ConvertKit does the same thing. He po posts this on his blog, and he'll be like, you know, thing one, my family, thing two, ConvertKit. Thing three, I bought some Airbnbs.

12:44

Here's the occupancy of my Airbnb. There's so much money I made. Oh, bad. But this was a pain in the ass. And I just feel like people who are sharing that type of information is just very interesting to me. And it's a very quick read. And to me, I'm like, I'd rather spend thirty minutes reading that than thirty minutes aimlessly scrolling on Twitter. So that's my older is better. That was my number one. Alright. What's number?

Here's the occupancy of my Airbnb. There's so much money I made. Oh, bad. But this was a pain in the ass. And I just feel like people who are sharing that type of information is just very interesting to me. And it's a very quick read. And to me, I'm like, I'd rather spend thirty minutes reading that than thirty minutes aimlessly scrolling on Twitter. So that's my older is better. That was my number one. Alright. What's number?

13:05

You said the last one. Early arbitrage exploit.

You said the last one. Early arbitrage exploit.

13:09

So I tried to put all my power words in there to hook you because I wanted to talk about this. Have you seen Air chat?

So I tried to put all my power words in there to hook you because I wanted to talk about this. Have you seen Air chat?

13:15

I don't know exactly what it is. So all I know is that Navell has some type of new social media thing, and it's invite only. That's all I know. It's not invite only anymore. So as of, I don't know, two days ago, they just opened it up to everybody, and they pivoted it. It they've had a kind of air chat in beta for a few months.

I don't know exactly what it is. So all I know is that Navell has some type of new social media thing, and it's invite only. That's all I know. It's not invite only anymore. So as of, I don't know, two days ago, they just opened it up to everybody, and they pivoted it. It they've had a kind of air chat in beta for a few months.

13:32

I checked it out. I was like, this is okay. It wasn't super engaging. Like, it was kinda confusing UX, and it was just a little bit slow to consume.

I checked it out. I was like, this is okay. It wasn't super engaging. Like, it was kinda confusing UX, and it was just a little bit slow to consume.

13:40

Is it, like, Twitter, but better?

Is it, like, Twitter, but better?

13:43

Okay. So the the new one I'll tell you about the new one because forget the old one. It's gone anyways. The new one is basically, like, Imagine Twitter, but it's voice first. So you to post, you just talk into your phone. Right? So you don't type. You just talk. But it auto transcribes it using AI and speeds it up, like, one point three x or something like that. So when you, like, when you're scrolling the timeline, it just starts to play somebody's audio, or you could read it. But it plays it a little bit faster. So it's actually per it's like you're almost listening as fast as you could read in a way, which is kind of interesting. And you get to hear their voice and then people reply or whatever. So it's

Okay. So the the new one I'll tell you about the new one because forget the old one. It's gone anyways. The new one is basically, like, Imagine Twitter, but it's voice first. So you to post, you just talk into your phone. Right? So you don't type. You just talk. But it auto transcribes it using AI and speeds it up, like, one point three x or something like that. So when you, like, when you're scrolling the timeline, it just starts to play somebody's audio, or you could read it. But it plays it a little bit faster. So it's actually per it's like you're almost listening as fast as you could read in a way, which is kind of interesting. And you get to hear their voice and then people reply or whatever. So it's

14:17

The the generous version of it would be, oh, this is a really cool new, like, social media format.

The the generous version of it would be, oh, this is a really cool new, like, social media format.

14:23

And new formats are interesting. Right? Twitter was a short form format.

And new formats are interesting. Right? Twitter was a short form format.

14:27

TikTok was a, you know, or vine was a six second looping format. TikTok was a different short video format. Like, formats mean things.

TikTok was a, you know, or vine was a six second looping format. TikTok was a different short video format. Like, formats mean things.

14:36

And that's where the big the big breakthroughs come from. So maybe it's one of those. The other side of it is, like, it's kind of like if you turned on,

And that's where the big the big breakthroughs come from. So maybe it's one of those. The other side of it is, like, it's kind of like if you turned on,

14:43

accessibility mode on your phone and then open Twitter. It's, Hey, can you just voice to text? Like, can you just read me my timeline, which is not great. So I'm not sure if it's gonna be a hit or not, but here's what I do know. Just like in the early days of clubhouse,

accessibility mode on your phone and then open Twitter. It's, Hey, can you just voice to text? Like, can you just read me my timeline, which is not great. So I'm not sure if it's gonna be a hit or not, but here's what I do know. Just like in the early days of clubhouse,

14:55

when an interesting person in Silicon Valley starts a new interesting thing,

when an interesting person in Silicon Valley starts a new interesting thing,

15:00

and they invite only their interesting friends

and they invite only their interesting friends

15:03

That place is a very interesting place for, like, the first ninety days. For the first ninety days.

That place is a very interesting place for, like, the first ninety days. For the first ninety days.

15:08

Who knows if it's gonna be successful or not? You get a call option on that. And so I'm, like, Fug it. I'm all in on AirChat for the next, like, seven days. Let me just go let me just throw full force. Let me completely ignore Twitter, completely ignore YouTube, podcasting, etcetera. And let me just air chat the hell out of myself. Why? Because

Who knows if it's gonna be successful or not? You get a call option on that. And so I'm, like, Fug it. I'm all in on AirChat for the next, like, seven days. Let me just go let me just throw full force. Let me completely ignore Twitter, completely ignore YouTube, podcasting, etcetera. And let me just air chat the hell out of myself. Why? Because

15:26

it's Naval's friends, which is probably the most interesting group of human beings,

it's Naval's friends, which is probably the most interesting group of human beings,

15:30

in my world, in the business and tech world, that's who's using it. So all the content is interesting because the people are interesting. And there's not that many people on there. So if I'm even remotely interesting,

in my world, in the business and tech world, that's who's using it. So all the content is interesting because the people are interesting. And there's not that many people on there. So if I'm even remotely interesting,

15:40

I'm, like, in the top point one percent of interesting people on this app. And the same thing happened when clubhouse came out. Didn't think clubhouse is gonna be there forever, but I had told my buddy, Jason, who I always thought Jason's an interesting guy. And I was like, Jason,

I'm, like, in the top point one percent of interesting people on this app. And the same thing happened when clubhouse came out. Didn't think clubhouse is gonna be there forever, but I had told my buddy, Jason, who I always thought Jason's an interesting guy. And I was like, Jason,

15:53

quit your job and just be on clubhouse, like, ten hours a day for the next thirty days. Why? Did you're gonna work at your company?

quit your job and just be on clubhouse, like, ten hours a day for the next thirty days. Why? Did you're gonna work at your company?

16:00

We had gotten acquired. So I was like, just check out. You're at Twitch? Just check out now. Who cares? No. Nobody will nobody will know. Trust me. It's two thousand people in this place. Nobody does anything.

We had gotten acquired. So I was like, just check out. You're at Twitch? Just check out now. Who cares? No. Nobody will nobody will know. Trust me. It's two thousand people in this place. Nobody does anything.

16:08

Just stop doing work. And just get on clubhouse twenty four seven. And he's like, well, you know, like, I gotta no. No. No. Trust me. You'll get more value out of this than you will, your job. And that's exactly what happened. He went there. Was on it all the time. He's an interesting guy. So he made a bunch of friends. He ended up raising, like, a four million dollar crypto fund out of it, made a couple million bucks doing it, returned their money. And, like, none of that would have been possible. Like, he raised money from a bunch of clubhouse friends. And he made, like, you know, lifelong friends. They go on trips together in real life now. And it's these early arbitrages when somebody awesome curate something. In many ways, Hampton was like this. You're an interesting guy. You had an interesting idea, and then you curated to early group of people, and you were, like, hell bent. Like, I'm gonna make this a great experience for them. And so that those first hundred days were gonna be, the best hundred days of this whole product forever, just because of what that early day exploit.

Just stop doing work. And just get on clubhouse twenty four seven. And he's like, well, you know, like, I gotta no. No. No. Trust me. You'll get more value out of this than you will, your job. And that's exactly what happened. He went there. Was on it all the time. He's an interesting guy. So he made a bunch of friends. He ended up raising, like, a four million dollar crypto fund out of it, made a couple million bucks doing it, returned their money. And, like, none of that would have been possible. Like, he raised money from a bunch of clubhouse friends. And he made, like, you know, lifelong friends. They go on trips together in real life now. And it's these early arbitrages when somebody awesome curate something. In many ways, Hampton was like this. You're an interesting guy. You had an interesting idea, and then you curated to early group of people, and you were, like, hell bent. Like, I'm gonna make this a great experience for them. And so that those first hundred days were gonna be, the best hundred days of this whole product forever, just because of what that early day exploit.

16:57

I hope not. I mean,

I hope not. I mean,

16:59

That's okay. It's just like in dating. Like, there is a honeymoon period for products, for people, for relationships

That's okay. It's just like in dating. Like, there is a honeymoon period for products, for people, for relationships

17:05

where, you know,

where, you know,

17:06

me get that door for you. Let me let me take out the trash for you. Let me well, it's Wednesday. Let me send you a little gift. Right? You behave a little bit differently at the beginning of relationship than you do. Seven years in. Do you think air chat's gonna be better than clubhouse and it's actually gonna work? Too early to say. I've been only been on it for, like, two hours. So, let me let me

me get that door for you. Let me let me take out the trash for you. Let me well, it's Wednesday. Let me send you a little gift. Right? You behave a little bit differently at the beginning of relationship than you do. Seven years in. Do you think air chat's gonna be better than clubhouse and it's actually gonna work? Too early to say. I've been only been on it for, like, two hours. So, let me let me

17:23

not do a hot take conclusion just yet, but,

not do a hot take conclusion just yet, but,

17:28

it's interesting for sure. Hey, real quick. As you know, we're big on ideas here. We love bringing new ideas, business ideas

it's interesting for sure. Hey, real quick. As you know, we're big on ideas here. We love bringing new ideas, business ideas

17:34

brainstorming ideas for the podcast. Well, a lot of people ask, what do you do with all those ideas? Can we go find them? Is there a list somewhere? The great people at HubSpot have put together a business ideas database. Totally free. If you just click the link in the description below, you can go download a collection of over fifty plus business ideas that are from the archive listed out for you curated.

brainstorming ideas for the podcast. Well, a lot of people ask, what do you do with all those ideas? Can we go find them? Is there a list somewhere? The great people at HubSpot have put together a business ideas database. Totally free. If you just click the link in the description below, you can go download a collection of over fifty plus business ideas that are from the archive listed out for you curated.

17:53

And so, what are you ready for? Go download it. It's free. Check it out. It's in the description below. Alright. Back to the show. What's the fourth thing? Pay for learning. I don't know if I said this one. Pay for learning. So this is

And so, what are you ready for? Go download it. It's free. Check it out. It's in the description below. Alright. Back to the show. What's the fourth thing? Pay for learning. I don't know if I said this one. Pay for learning. So this is

18:03

Instead of me going out there and

Instead of me going out there and

18:06

trying to get smarter about something, in this case, AI,

trying to get smarter about something, in this case, AI,

18:09

I was like, wait, why is it that as as adults? We don't ever go to school, go to class, or have tutors. And so I told you this before. I hired an AI tutor.

I was like, wait, why is it that as as adults? We don't ever go to school, go to class, or have tutors. And so I told you this before. I hired an AI tutor.

18:20

Yeah. And the guy, you know, people are like, what what is an AI tutor? And I was like, dude, AI is changing so fast. Literally,

Yeah. And the guy, you know, people are like, what what is an AI tutor? And I was like, dude, AI is changing so fast. Literally,

18:27

every three weeks, There's a new mind blowing paradigm shift in AI. Okay. Great. There's thousands of companies getting funded. I can't even keep track of them. There's new models being released. There's a new a new that drops a new interview that drops

every three weeks, There's a new mind blowing paradigm shift in AI. Okay. Great. There's thousands of companies getting funded. I can't even keep track of them. There's new models being released. There's a new a new that drops a new interview that drops

18:40

for Sam Alvin says it's an interesting thing. I couldn't possibly keep up with it. It's a full time job to keep up with it. So one way is you go read a newsletter or you join maybe a group chat or something like That's good.

for Sam Alvin says it's an interesting thing. I couldn't possibly keep up with it. It's a full time job to keep up with it. So one way is you go read a newsletter or you join maybe a group chat or something like That's good.

18:49

But what I decided to do was, like, how do I use

But what I decided to do was, like, how do I use

18:53

how do I spend money in an interesting way here? How do I I basically pay this guy five hundred bucks an hour.

how do I spend money in an interesting way here? How do I I basically pay this guy five hundred bucks an hour.

18:58

And I say your job is every week. You're gonna come to the table and you're gonna tell me, here's the four of my most interesting things that blew my mind. I live in AI world. He lives in AI world. He's asked to bring to me three or four of the most interesting things he's seen. And then I usually ask him a question, like, hey, I saw people talking about this. What is it? Or Chammoth said this thing. I didn't even really understand it. What the hell is he talking about? Or,

And I say your job is every week. You're gonna come to the table and you're gonna tell me, here's the four of my most interesting things that blew my mind. I live in AI world. He lives in AI world. He's asked to bring to me three or four of the most interesting things he's seen. And then I usually ask him a question, like, hey, I saw people talking about this. What is it? Or Chammoth said this thing. I didn't even really understand it. What the hell is he talking about? Or,

19:20

hey, in my business, I have this problem. Is there an AI tool that could actually solve this? Then he'll go do the research and he'll come back to me and he'll he'll answer it. And so this has been just, like, such a hack to be smart about AI, but shave my time commitment Like, you know, yes, I'm paying this guy five hundred dollars for one hour of his time, but I'm kind of saving eight to ten hours of my time because I now literally don't have to think about it. I put it out of my brain. I'm gonna have a focus sixty to ninety minutes with him, and he'll tell me everything I need to know. Have you ever used GLG? Do you know what GLG is?

hey, in my business, I have this problem. Is there an AI tool that could actually solve this? Then he'll go do the research and he'll come back to me and he'll he'll answer it. And so this has been just, like, such a hack to be smart about AI, but shave my time commitment Like, you know, yes, I'm paying this guy five hundred dollars for one hour of his time, but I'm kind of saving eight to ten hours of my time because I now literally don't have to think about it. I put it out of my brain. I'm gonna have a focus sixty to ninety minutes with him, and he'll tell me everything I need to know. Have you ever used GLG? Do you know what GLG is?

19:49

I know what GLG is. Yeah. I was I was on geo. I was on the other side of GLG as well. You're an expert. I did it too. I remember, basically, GLG originally was started because it was, like, bankers who were going to either take a company public or,

I know what GLG is. Yeah. I was I was on geo. I was on the other side of GLG as well. You're an expert. I did it too. I remember, basically, GLG originally was started because it was, like, bankers who were going to either take a company public or,

20:03

wanted to invest a large sum into, like,

wanted to invest a large sum into, like,

20:05

let's just say, let's just say Mailchimp. Mailchimp's gonna get acquired by Intuit, and they're hearing rumors about it. So they go they would go and find people like me who use Mailchimp like services and ask us questions like if Mailchimp raised the prices, what would you do? Right. How would you react? Just so they can get, like, an idea for the market. Well, there's GLG. Now there's TEGIS. There's also intro.

let's just say, let's just say Mailchimp. Mailchimp's gonna get acquired by Intuit, and they're hearing rumors about it. So they go they would go and find people like me who use Mailchimp like services and ask us questions like if Mailchimp raised the prices, what would you do? Right. How would you react? Just so they can get, like, an idea for the market. Well, there's GLG. Now there's TEGIS. There's also intro.

20:26

And I also have been an expert on those, and you could charge, like, two or three or sometimes five thousand dollars an hour, like crazy amounts of money to be an expert Dude, I've been using it on the other end, where I've been paying money to, like, get insights.

And I also have been an expert on those, and you could charge, like, two or three or sometimes five thousand dollars an hour, like crazy amounts of money to be an expert Dude, I've been using it on the other end, where I've been paying money to, like, get insights.

20:39

Yeah. If it kind of feels like it's cheating. So, like, you can you can tell GLG or TGS or whoever that you wanna talk to your competitor or someone who works at, or worked at your competitor,

Yeah. If it kind of feels like it's cheating. So, like, you can you can tell GLG or TGS or whoever that you wanna talk to your competitor or someone who works at, or worked at your competitor,

20:51

And you can get so much information from them. I read this I think I told you about Steve Cohen. I read this book, about Steve Cohen. He basically is one of the largest

And you can get so much information from them. I read this I think I told you about Steve Cohen. I read this book, about Steve Cohen. He basically is one of the largest

21:00

hedge fund guys out there. And one of his guys went to jail, went to prison for many years because what they would do is they would use GLG

hedge fund guys out there. And one of his guys went to jail, went to prison for many years because what they would do is they would use GLG

21:08

so much that they would befriend the experts and fly out to the experts home and get them to reveal a bunch of confidential information that they weren't allowed to reveal, and then they would go and trade assets on that information, which is insider trading.

so much that they would befriend the experts and fly out to the experts home and get them to reveal a bunch of confidential information that they weren't allowed to reveal, and then they would go and trade assets on that information, which is insider trading.

21:22

It's so powerful that I've been able to do this. It it's like been really amazing to be on the other end of paying these people. I'm shocked. I haven't done this for years. Have you ever paid money? I had never done I've never done it on one of those networks because to me, I'm like, paying somebody two thousand dollars an hour. Right? Like, It makes sense for most of those customers because they're making very large investment decisions. So if I can get better alpha, better

It's so powerful that I've been able to do this. It it's like been really amazing to be on the other end of paying these people. I'm shocked. I haven't done this for years. Have you ever paid money? I had never done I've never done it on one of those networks because to me, I'm like, paying somebody two thousand dollars an hour. Right? Like, It makes sense for most of those customers because they're making very large investment decisions. So if I can get better alpha, better

21:45

information,

information,

21:46

for, you know, two thousand, five thousand, ten thousand, twenty thousand

for, you know, two thousand, five thousand, ten thousand, twenty thousand

21:49

dollars, doesn't matter when I'm taking a ten million dollar position or eighty million dollar position on a company. I've never been in that that position where I needed to do that. That's not what I some what I do. It's some scale I play at. So, like, how do you justify paying you know, for yourself. Like, what are what are you paying for? And how how are you justifying paying that much money? I'll give you an example.

dollars, doesn't matter when I'm taking a ten million dollar position or eighty million dollar position on a company. I've never been in that that position where I needed to do that. That's not what I some what I do. It's some scale I play at. So, like, how do you justify paying you know, for yourself. Like, what are what are you paying for? And how how are you justifying paying that much money? I'll give you an example.

22:07

So,

So,

22:07

let's just say that,

let's just say that,

22:09

let's just say, alright, so Hampton Hampers appear business, a community business. There's like five competitors out there. A couple of them are quite huge.

let's just say, alright, so Hampton Hampers appear business, a community business. There's like five competitors out there. A couple of them are quite huge.

22:17

I'm curious how they're acquiring users.

I'm curious how they're acquiring users.

22:19

So you could just sign up and say, I wanna talk to the director of marketing at this company, and they go and find a former marketing executive or marketing leader at these companies and be like, so, you know, and you don't have to you don't tell them your background or what you're doing. And you'd be like, so how are you guys, how are you guys acquiring customers? Like, Could you just do LinkedIn ads? Oh, LinkedIn ads didn't really work. So instead, we did x, y, and z. And you can just ask all these questions and hopefully save yourself a year of time of making the same mistakes that other people in your industry. So for e comm, you could be like,

So you could just sign up and say, I wanna talk to the director of marketing at this company, and they go and find a former marketing executive or marketing leader at these companies and be like, so, you know, and you don't have to you don't tell them your background or what you're doing. And you'd be like, so how are you guys, how are you guys acquiring customers? Like, Could you just do LinkedIn ads? Oh, LinkedIn ads didn't really work. So instead, we did x, y, and z. And you can just ask all these questions and hopefully save yourself a year of time of making the same mistakes that other people in your industry. So for e comm, you could be like,

22:50

Well, I'm not well versed in econ, but I guess it could be like, you know, what about, shipping from your own warehouse versus hiring another person's warehouse? You know, things like that. You could just ask them all these questions, and it's made my life so much easier. Right. Yeah. I I think it's more of like a scalpel than it is, like, a blunt force hammer where it's, like,

Well, I'm not well versed in econ, but I guess it could be like, you know, what about, shipping from your own warehouse versus hiring another person's warehouse? You know, things like that. You could just ask them all these questions, and it's made my life so much easier. Right. Yeah. I I think it's more of like a scalpel than it is, like, a blunt force hammer where it's, like,

23:08

you really it's a it's a very precise instrument. You only wanna use it for very specific types of questions

you really it's a it's a very precise instrument. You only wanna use it for very specific types of questions

23:13

where the the trade off makes sense. And there's many jobs where that makes sense. And then there's many, like, in the ecomm example, you'd almost never do that realistically as an ecomm per person, but if you are, like, I've been on there and people would be like, hey,

where the the trade off makes sense. And there's many jobs where that makes sense. And then there's many, like, in the ecomm example, you'd almost never do that realistically as an ecomm per person, but if you are, like, I've been on there and people would be like, hey,

23:28

you use Triple whale. And, we're looking to talk to an expert who uses Triple whale. And we wanna know, did you evaluate three or four other competitors and why did you choose Triple well over the competitors?

you use Triple whale. And, we're looking to talk to an expert who uses Triple whale. And we wanna know, did you evaluate three or four other competitors and why did you choose Triple well over the competitors?

23:38

And it's like, yep, I did that by usual. I evaluated the competitors. Here's here's the difference. Blah blah blah. They really couldn't do that because they're not an operator. So when they're making a big investment decision, they have to they wanna they wanna go in with, like, real information versus

And it's like, yep, I did that by usual. I evaluated the competitors. Here's here's the difference. Blah blah blah. They really couldn't do that because they're not an operator. So when they're making a big investment decision, they have to they wanna they wanna go in with, like, real information versus

23:52

random theories on their side where they they weren't actually an operator in the space. Right.

random theories on their side where they they weren't actually an operator in the space. Right.

23:57

Let's do another one. Do you have anything else? I've got a book that I I think you should read. So I read this book years ago, and I just recently reread it because it's so good. And I bet you've never heard of this person. I'm I'm gonna ask, but I know the answer is no. Kirk Kachorian. That doesn't ring a bell. Kirk Kachorian does it?

Let's do another one. Do you have anything else? I've got a book that I I think you should read. So I read this book years ago, and I just recently reread it because it's so good. And I bet you've never heard of this person. I'm I'm gonna ask, but I know the answer is no. Kirk Kachorian. That doesn't ring a bell. Kirk Kachorian does it?

24:13

That kinda does ring about who is Kirk Cajorian? Alright. So Kirk Cajorian, he's born in the early nineteen hundreds, like, nineteen twenty or something. He's in our Armenian immigrant or born into an Armenian family where he'd, like, he's born in Fresno, California, but spoke Armenian. Didn't even speak English.

That kinda does ring about who is Kirk Cajorian? Alright. So Kirk Cajorian, he's born in the early nineteen hundreds, like, nineteen twenty or something. He's in our Armenian immigrant or born into an Armenian family where he'd, like, he's born in Fresno, California, but spoke Armenian. Didn't even speak English.

24:28

He eventually drops out of, like, eighth grade. So he's, like, this, like, you know,

He eventually drops out of, like, eighth grade. So he's, like, this, like, you know,

24:32

he's not the riches yet, but he's the rags part of the story where he's comes from nothing. I think his parents were, like, farmers or something grew at poor. Learn how to fly a plane because World War II is coming up, and he doesn't want to be, shooting guns. So he goes into the air force and learns how to fly planes, and he spends the war flying planes. After the war, he's able to save up enough money to buy a cessna. One plane for five thousand dollars. I think he saved up, like, two thousand dollars. He buys a plane, and his first business is flying people from California to Las Vegas. This is in the fifties and sixties. Las Vegas is, like, not really a thing yet, but gambling is legal there. And all these rich Hollywood folks wanna go to Vegas for the weekend, he's their guy. He flies him out there. So he flies him out there, and he starts getting into gambling while he's there as well. And so through his gambling, as well as his very small business of flying people out there, he starts buying more and more planes. And over the course of, like, fifteen years, he kinda has a meaningful business to the point where he's like, forty three or forty four years old, and he's making the equivalent of, like, two million dollars a year in profit. And so he's got a good business. Well, He sells this airline business for ten million dollars, which is like the equivalent of ninety million dollars today. He sells it in his forties, and that's really where things start taking off. With that money, he buys,

he's not the riches yet, but he's the rags part of the story where he's comes from nothing. I think his parents were, like, farmers or something grew at poor. Learn how to fly a plane because World War II is coming up, and he doesn't want to be, shooting guns. So he goes into the air force and learns how to fly planes, and he spends the war flying planes. After the war, he's able to save up enough money to buy a cessna. One plane for five thousand dollars. I think he saved up, like, two thousand dollars. He buys a plane, and his first business is flying people from California to Las Vegas. This is in the fifties and sixties. Las Vegas is, like, not really a thing yet, but gambling is legal there. And all these rich Hollywood folks wanna go to Vegas for the weekend, he's their guy. He flies him out there. So he flies him out there, and he starts getting into gambling while he's there as well. And so through his gambling, as well as his very small business of flying people out there, he starts buying more and more planes. And over the course of, like, fifteen years, he kinda has a meaningful business to the point where he's like, forty three or forty four years old, and he's making the equivalent of, like, two million dollars a year in profit. And so he's got a good business. Well, He sells this airline business for ten million dollars, which is like the equivalent of ninety million dollars today. He sells it in his forties, and that's really where things start taking off. With that money, he buys,

25:47

plot of land, and he turns it into the, pink flamingo hotel, which is one of the first big, epic

plot of land, and he turns it into the, pink flamingo hotel, which is one of the first big, epic

25:54

gambling hotels in Las Vegas,

gambling hotels in Las Vegas,

25:57

then using the what's what's so funny? Just the flamingo. I just that's hilarious.

then using the what's what's so funny? Just the flamingo. I just that's hilarious.

26:02

Yeah. That's his thing.

Yeah. That's his thing.

26:04

And by the way, while there, one of the waiters who worked for him, has a son, and Kirk always treated this waiter really nicely. And so he eventually names his son Kirk Agasse, his first name being Andre. So Andre Kirk Agasse,

And by the way, while there, one of the waiters who worked for him, has a son, and Kirk always treated this waiter really nicely. And so he eventually names his son Kirk Agasse, his first name being Andre. So Andre Kirk Agasse,

26:17

the famous tennis players named after, yeah, as Kirk Corian, because he's known as, like, a he's a good employee. He's a good guy. Takes his,

the famous tennis players named after, yeah, as Kirk Corian, because he's known as, like, a he's a good employee. He's a good guy. Takes his,

26:25

small little casino

small little casino

26:26

parlays it and keeps on growing. And by the time he's in his fifties and sixties, he starts it's buying other companies. So he buys MGM, which at the time was a lot it was it was a a production studio, a movie studio.

parlays it and keeps on growing. And by the time he's in his fifties and sixties, he starts it's buying other companies. So he buys MGM, which at the time was a lot it was it was a a production studio, a movie studio.

26:38

And then after years and years of doing this, he just parlays all of this to eventually he's, like, eighty five years old, and he buys ten percent of GM, and then at eighty eight years old, he tries to buy the entire Chrysler company, and he almost gets it done at, like, thirty billion dollars. But what's interesting about this guy, Kirkacorian,

And then after years and years of doing this, he just parlays all of this to eventually he's, like, eighty five years old, and he buys ten percent of GM, and then at eighty eight years old, he tries to buy the entire Chrysler company, and he almost gets it done at, like, thirty billion dollars. But what's interesting about this guy, Kirkacorian,

26:56

never had formal education. So he's, I guess, he's a a Wall Street guy who's not actually on Wall Street. He's a banker type, but he buys all these companies with no education,

never had formal education. So he's, I guess, he's a a Wall Street guy who's not actually on Wall Street. He's a banker type, but he buys all these companies with no education,

27:05

He's very private. So there's, like, three or four interviews ever about this guy. And he's got balls of steel. He just, like, He's a nice guy, but he's a hard negotiator, and he's just puts his money where his mouth is, and he does this until the age of, like, ninety four when he dies. So the days die. That till the day he dies, he's making deals. And he's really low key, but he dies with, like, a net worth of, like, fifteen billion dollars. And if you like, you know, you and I have been kind of been into the whole capital allocation type of thing. This is the guy, and he's done it without any background, no pedigree, very fascinating guy. I have to apologize to kid rock. I thought you were the bill of the week.

He's very private. So there's, like, three or four interviews ever about this guy. And he's got balls of steel. He just, like, He's a nice guy, but he's a hard negotiator, and he's just puts his money where his mouth is, and he does this until the age of, like, ninety four when he dies. So the days die. That till the day he dies, he's making deals. And he's really low key, but he dies with, like, a net worth of, like, fifteen billion dollars. And if you like, you know, you and I have been kind of been into the whole capital allocation type of thing. This is the guy, and he's done it without any background, no pedigree, very fascinating guy. I have to apologize to kid rock. I thought you were the bill of the week.

27:42

Actually, it's this guy.

Actually, it's this guy.

27:44

This guy is the billy of the week. Wow. This is a incredible story. The Andre Agassi thing just was the cherry on top for me. I gotta say. Thank you for adding that one in. It seems almost impossible to me.

This guy is the billy of the week. Wow. This is a incredible story. The Andre Agassi thing just was the cherry on top for me. I gotta say. Thank you for adding that one in. It seems almost impossible to me.

27:57

When it's by the way, I'm clearly wrong, but it seems almost impossible that a guy could just, like, start chartering flights for people. He's, like, a pilot

When it's by the way, I'm clearly wrong, but it seems almost impossible that a guy could just, like, start chartering flights for people. He's, like, a pilot

28:05

pilot turned billionaire. That sounds

pilot turned billionaire. That sounds

28:08

so, like, the the amount of capital he had to have mass to end up owning ten percent of GM, try to buy Chrysler for five billion dollars.

so, like, the the amount of capital he had to have mass to end up owning ten percent of GM, try to buy Chrysler for five billion dollars.

28:16

Like, how the hell did this guy compound at that rate for that low? That's so insane.

Like, how the hell did this guy compound at that rate for that low? That's so insane.

28:21

The book is called the gambler. It's a really good book, but basically, he's like, I'm a gambler at heart. I love gambling. He's like, I I'm in it for the thrill. But, basically, he caught a couple trends. The first being, obviously, airlines weren't popular. And so, like, his airline was kinda ricky ding. And he just kind of bootstrapped it for, like, fifteen years. And so it's kind of inspiring. He started the airline when he was, like, thirty two, right when he got out of the war. It wasn't really a hit until forty four, and it wasn't that big of a hit. It was a good business, but it wasn't like some epic, epic thing, but he sells it for ten million And then two years later, he buys it back, runs it for three more years, and then sells it again this time for a hundred million. And the the trend that he caught was that airlines just weren't a thing. And so they were kind of bootstrapped. They weren't they didn't have these massive barrier to entries like you would think of today where you have to have tens of billions of dollars. I mean, starting an airline today seems just like insane. It wasn't like that. And then the same thing with Las Vegas, where gambling, it wasn't exactly like that, where,

The book is called the gambler. It's a really good book, but basically, he's like, I'm a gambler at heart. I love gambling. He's like, I I'm in it for the thrill. But, basically, he caught a couple trends. The first being, obviously, airlines weren't popular. And so, like, his airline was kinda ricky ding. And he just kind of bootstrapped it for, like, fifteen years. And so it's kind of inspiring. He started the airline when he was, like, thirty two, right when he got out of the war. It wasn't really a hit until forty four, and it wasn't that big of a hit. It was a good business, but it wasn't like some epic, epic thing, but he sells it for ten million And then two years later, he buys it back, runs it for three more years, and then sells it again this time for a hundred million. And the the trend that he caught was that airlines just weren't a thing. And so they were kind of bootstrapped. They weren't they didn't have these massive barrier to entries like you would think of today where you have to have tens of billions of dollars. I mean, starting an airline today seems just like insane. It wasn't like that. And then the same thing with Las Vegas, where gambling, it wasn't exactly like that, where,

29:18

wasn't like that big of a thing. Las Vegas was I think he the plot of land he paid for, I think it was eight hundred thousand dollars. And then he spent another, like, couple million dollars to build the pink flamingo,

wasn't like that big of a thing. Las Vegas was I think he the plot of land he paid for, I think it was eight hundred thousand dollars. And then he spent another, like, couple million dollars to build the pink flamingo,

29:29

and he just got these hits early on, where he caught these trends, you know, Vegas, airlines, things like that. And he caught them all early on, but here's the inspirational part. In my opinion, he wasn't really a baller until his mid to upper forties.

and he just got these hits early on, where he caught these trends, you know, Vegas, airlines, things like that. And he caught them all early on, but here's the inspirational part. In my opinion, he wasn't really a baller until his mid to upper forties.

29:43

And he was in the game for literally ninety five years when he died.

And he was in the game for literally ninety five years when he died.

29:48

Yeah. I think the, you know, Manish Pabry when I was talking to me was like, you know, there's three variables that matter.

Yeah. I think the, you know, Manish Pabry when I was talking to me was like, you know, there's three variables that matter.

29:54

When it comes to wealth. He's like, it's all about compounding. So he's like, it's either the rate that you're compounding, so the percentage gain every year. It's the length of the runway.

When it comes to wealth. He's like, it's all about compounding. So he's like, it's either the rate that you're compounding, so the percentage gain every year. It's the length of the runway.

30:03

Or it's the amount you started with. And you could pull any of those three levers. You either start with a huge amount, then you don't have to have a high rate or a long time. If you start with a low amount, which is where most people start, that you need a high rate and a long time,

Or it's the amount you started with. And you could pull any of those three levers. You either start with a huge amount, then you don't have to have a high rate or a long time. If you start with a low amount, which is where most people start, that you need a high rate and a long time,

30:16

or you need to, like, explosive a high rate and not that long time. Right? Those are your variables to play with. And, you know, if you look at Buffet, Buffett's thing is that he compounded for the longest time. So he basically, you know, bought his first stock when he was eleven years old. And, yes, at ninety five, now he's, you know,

or you need to, like, explosive a high rate and not that long time. Right? Those are your variables to play with. And, you know, if you look at Buffet, Buffett's thing is that he compounded for the longest time. So he basically, you know, bought his first stock when he was eleven years old. And, yes, at ninety five, now he's, you know,

30:30

if he hadn't given his money away, he'd be the wealthiest man in the world,

if he hadn't given his money away, he'd be the wealthiest man in the world,

30:35

well, you know, what number one, number two, number three, somewhere up there. And it's because he had an eighty year runway. So it's not that his rate was that absurd. It's that the rate was consistent, and it was eighty years. And and so it's, like, you know, one of those things for compounding is, like, how how long of a runway do you get And for most people, you know, like for Buffet and for others, it's like the bulk of their wealth is always kind of in the last the last two or three turns of compounding because

well, you know, what number one, number two, number three, somewhere up there. And it's because he had an eighty year runway. So it's not that his rate was that absurd. It's that the rate was consistent, and it was eighty years. And and so it's, like, you know, one of those things for compounding is, like, how how long of a runway do you get And for most people, you know, like for Buffet and for others, it's like the bulk of their wealth is always kind of in the last the last two or three turns of compounding because

30:59

That's just how compounding works. If you're doubling every ten years,

That's just how compounding works. If you're doubling every ten years,

31:03

then doubling, you know, when from seventy to ninety is gonna be doubling a huge number at that

then doubling, you know, when from seventy to ninety is gonna be doubling a huge number at that

31:09

And people say that. And and you're right when you say that, but it almost discredits Buffet. If you read his biography

And people say that. And and you're right when you say that, but it almost discredits Buffet. If you read his biography

31:16

or read any of his his early

or read any of his his early

31:18

reports, or his annual letters,

reports, or his annual letters,

31:20

meant even when he was, like, thirty five or thirty eight, he had something like fifty million dollars in assets.

meant even when he was, like, thirty five or thirty eight, he had something like fifty million dollars in assets.

31:26

And people are like, well, he didn't actually make he he the billions didn't come until his fifties or sixties.

And people are like, well, he didn't actually make he he the billions didn't come until his fifties or sixties.

31:32

He was killing it for a long time. Like, Like, he started. Can be true. Right? Fifty million is still killing it, and fifty million is not the same thing as ninety billion.

He was killing it for a long time. Like, Like, he started. Can be true. Right? Fifty million is still killing it, and fifty million is not the same thing as ninety billion.

31:42

Yeah. Yeah. Yeah. That's for sure. But if you, like, read about him, he was, like, I think he said when he graduated college, I think he had a hundred thousand dollars of his own portfolio, which in the forties, like, having, like, two million dollars.

Yeah. Yeah. Yeah. That's for sure. But if you, like, read about him, he was, like, I think he said when he graduated college, I think he had a hundred thousand dollars of his own portfolio, which in the forties, like, having, like, two million dollars.

31:55

And

And

31:55

he was killing it from a group, like, a really early age, and then his early compounding was like thirty to fifty percent for, like, six or eight years in a row. I mean, he was kind of the man from the beginning. If you ever read about him, when that episode comes out, you'll like it that, Monish was basically like a Buff historian and a Mongol historian. He knows year by year

he was killing it from a group, like, a really early age, and then his early compounding was like thirty to fifty percent for, like, six or eight years in a row. I mean, he was kind of the man from the beginning. If you ever read about him, when that episode comes out, you'll like it that, Monish was basically like a Buff historian and a Mongol historian. He knows year by year

32:17

what he was doing, what he was investing in? How much he had? He, like, has charted it out. He gave me, like, an oral history of Warren Buffett in a way that I really never seen. And I loved it because I've met a lot of people who are super successful,

what he was doing, what he was investing in? How much he had? He, like, has charted it out. He gave me, like, an oral history of Warren Buffett in a way that I really never seen. And I loved it because I've met a lot of people who are super successful,

32:29

and then they it's, like, they're not kinda, like, students of the game in the same way that I am. Where I'm like, oh, did you ever go back and read all the letters and kind of deconstruct them? They're like, no. I was just doing my thing.

and then they it's, like, they're not kinda, like, students of the game in the same way that I am. Where I'm like, oh, did you ever go back and read all the letters and kind of deconstruct them? They're like, no. I was just doing my thing.

32:41

Right, or, like, I know great investment. I'm like, do you do, like, detailed kind of models or, like, do you write memos that, like, you did you go back and review them? Are you track your hit rate? Like, nerdy stuff that I like to do? And often, very often, I would say more often than not. The answer is actually no. I don't do any of that shit. I just, like I just focus on what's in front of me and I just do that thing. So it's really nice when I see somebody who wins with the same play style I have where they they kind of are in about it, and they do like to go back and kinda chart things out and break things down and and kind of analyze it a little bit themselves and other people and and try to use that to kind of reverse engineer you know, some lessons.

Right, or, like, I know great investment. I'm like, do you do, like, detailed kind of models or, like, do you write memos that, like, you did you go back and review them? Are you track your hit rate? Like, nerdy stuff that I like to do? And often, very often, I would say more often than not. The answer is actually no. I don't do any of that shit. I just, like I just focus on what's in front of me and I just do that thing. So it's really nice when I see somebody who wins with the same play style I have where they they kind of are in about it, and they do like to go back and kinda chart things out and break things down and and kind of analyze it a little bit themselves and other people and and try to use that to kind of reverse engineer you know, some lessons.

33:14

So it was pretty cool to see that. What was your takeaway,

So it was pretty cool to see that. What was your takeaway,

33:17

after he said that? Like I said, I think it was reassuring in a way. It sounds silly to say, but true. Like, whenever I meet a more successful person than me who does things the way I do them, I feel good inside. Right? Like, I've I feel a little reassured. Like, oh, that's cool. Like, this person

after he said that? Like I said, I think it was reassuring in a way. It sounds silly to say, but true. Like, whenever I meet a more successful person than me who does things the way I do them, I feel good inside. Right? Like, I've I feel a little reassured. Like, oh, that's cool. Like, this person

33:31

Like, it reassures me that my method can work. Right? I already believed it could work on those why why why else would I be doing it, but it's even more conviction that this works. I don't need to shift what I'm doing in order to make it work when you see somebody who's very similar to you, maybe similar demeanor,

Like, it reassures me that my method can work. Right? I already believed it could work on those why why why else would I be doing it, but it's even more conviction that this works. I don't need to shift what I'm doing in order to make it work when you see somebody who's very similar to you, maybe similar demeanor,

33:45

similar philosophy, similar approach, similar work habits,

similar philosophy, similar approach, similar work habits,

33:48

you know, I I like finding people who who have a match because it's very hard for me to change my nature or to change my work style or change my habits.

you know, I I like finding people who who have a match because it's very hard for me to change my nature or to change my work style or change my habits.

33:56

So it's actually better for me to double down, make them super strengths

So it's actually better for me to double down, make them super strengths

34:00

and find other people who've won use it with those same strengths and to look and learn from them and what they did versus to become some different guy playing some other play style that I'm not familiar with that I'm not good at that I haven't done for fifteen years already. Let me wrap up by telling you one last thing, and this one is it's gonna be short because I'm not terribly well versed on it. You would know this guy better than I would actually.

and find other people who've won use it with those same strengths and to look and learn from them and what they did versus to become some different guy playing some other play style that I'm not familiar with that I'm not good at that I haven't done for fifteen years already. Let me wrap up by telling you one last thing, and this one is it's gonna be short because I'm not terribly well versed on it. You would know this guy better than I would actually.

34:19

What's his name? Mike No

What's his name? Mike No

34:22

Novagats,

Novagats,

34:23

the crypto gut? What's his name? Mike Novagats?

the crypto gut? What's his name? Mike Novagats?

34:26

Novagats.

Novagats.

34:27

So I think he started or help start Fortress, which is a massive hedge fund. Right? Yeah.

So I think he started or help start Fortress, which is a massive hedge fund. Right? Yeah.

34:33

He's got this new podcast called Business Untitled, right now on YouTube, I think it has three thousand subscribers,

He's got this new podcast called Business Untitled, right now on YouTube, I think it has three thousand subscribers,

34:40

even though they're, like,

even though they're, like,

34:42

thirty or fifteen episodes in.

thirty or fifteen episodes in.

34:45

His podcast

His podcast

34:46

is so good. It's him. It's interesting. Dude, it's so good. It's him and this other guy named Mike Barry. Mike Berry, I believe

is so good. It's him. It's interesting. Dude, it's so good. It's him and this other guy named Mike Barry. Mike Berry, I believe

34:54

is a real estate guy and he owns a chain of hotels or something like that, really high end hotels.

is a real estate guy and he owns a chain of hotels or something like that, really high end hotels.

34:58

It's sort of like the all in podcast where it's like billionaires talking about stuff, and that's one of the reasons why it's exciting.

It's sort of like the all in podcast where it's like billionaires talking about stuff, and that's one of the reasons why it's exciting.

35:04

But these guys have, like, a low like, all in is not even remotely I wouldn't even use the word blue collar at all to describe those guys.

But these guys have, like, a low like, all in is not even remotely I wouldn't even use the word blue collar at all to describe those guys.

35:12

Or what they think of themselves.

Or what they think of themselves.

35:13

This podcast, they kind of do have that vibe where they're, like, born they weren't born wealthy and they still remember where they came from. And they're talking like they're small business owners, except the numbers are

This podcast, they kind of do have that vibe where they're, like, born they weren't born wealthy and they still remember where they came from. And they're talking like they're small business owners, except the numbers are

35:25

absolutely massive. It's a beautiful, wonderful podcast. You gotta listen to a few episodes. I'm so jealous of this thumbnail style. Oh, man. I see this, and I just wish this was our thumbnail style. This is it like dollar bills?

absolutely massive. It's a beautiful, wonderful podcast. You gotta listen to a few episodes. I'm so jealous of this thumbnail style. Oh, man. I see this, and I just wish this was our thumbnail style. This is it like dollar bills?

35:36

It's just fucking awesome, dude. It's great, man. It's a really I wish you hadn't said this. I wish I could just steal. I wish I could have just you could have just shown this to me and I'd be like, let's steal this because this is so so damn good of a of a thumbnail style. Well, they only have, like, three or four thousand subscribers. How many subscribers do they have on their YouTube? I think it's, like, thirty eight hundred or something like that. Yeah. So you're saying, we can steal it. Nobody'll Yeah. We could steal it. It's really good. This podcast is so good. I like and they have amazing guests. Like, they even had they've had snoop dogg on recently, or they'll have the founder of,

It's just fucking awesome, dude. It's great, man. It's a really I wish you hadn't said this. I wish I could just steal. I wish I could have just you could have just shown this to me and I'd be like, let's steal this because this is so so damn good of a of a thumbnail style. Well, they only have, like, three or four thousand subscribers. How many subscribers do they have on their YouTube? I think it's, like, thirty eight hundred or something like that. Yeah. So you're saying, we can steal it. Nobody'll Yeah. We could steal it. It's really good. This podcast is so good. I like and they have amazing guests. Like, they even had they've had snoop dogg on recently, or they'll have the founder of,

36:04

Equinox

Equinox

36:05

or,

or,

36:06

a bunch of, like, really big names, and they just shoot the shit, and it's wonderful. It's so good. And they tell stories about starting Fortress Capital and I guess, West Eden, who started fortress, I think he eventually, like, bought railroads or something like that. And they tell the stories, but they have this weird blue collar down to earth kind of style that I've been digging. It's really good.

a bunch of, like, really big names, and they just shoot the shit, and it's wonderful. It's so good. And they tell stories about starting Fortress Capital and I guess, West Eden, who started fortress, I think he eventually, like, bought railroads or something like that. And they tell the stories, but they have this weird blue collar down to earth kind of style that I've been digging. It's really good.

36:27

Alright. That's a big, big endorsement. I like that.

Alright. That's a big, big endorsement. I like that.

36:31

Gotta ask you. What do you think about the fact that so many people have podcasts? Like, it's pretty remarkable. When we started this, it was four years ago,

Gotta ask you. What do you think about the fact that so many people have podcasts? Like, it's pretty remarkable. When we started this, it was four years ago,

36:40

roughly four years ago, I think.

roughly four years ago, I think.

36:42

And we were not early to the podcasting game. We were, like, a decade

And we were not early to the podcasting game. We were, like, a decade

36:45

plus late to the game. Felt late. Felt late at the time.

plus late to the game. Felt late. Felt late at the time.

36:49

But I would say since we started, it's now, like, incredibly common. If you're anybody

But I would say since we started, it's now, like, incredibly common. If you're anybody

36:55

like, the number of people who start a podcast is is that are kind of like interesting people from other other walks of life. Right? Like investors,

like, the number of people who start a podcast is is that are kind of like interesting people from other other walks of life. Right? Like investors,

37:02

business people, athletes, whatever.

business people, athletes, whatever.

37:06

It's kind of amazing. Like, one of the content when I was gonna talk about was Jayz redick has a new pod with LeBron James. I know. I saw that. It's awesome. Right? It's like Leperon is podcasting.

It's kind of amazing. Like, one of the content when I was gonna talk about was Jayz redick has a new pod with LeBron James. I know. I saw that. It's awesome. Right? It's like Leperon is podcasting.

37:16

This is amazing. What the hell is going on? I love the athlete ones. A lot of the UFC guys are doing them now. Too. Kamara Usman has one. I love them.

This is amazing. What the hell is going on? I love the athlete ones. A lot of the UFC guys are doing them now. Too. Kamara Usman has one. I love them.

37:24

So what's your take on this? Like, what what where does this kinda like, where does this go? Or, like, what what do you think is gonna happen with, like, everybody starting a podcast a, I love it as a fan. Like, I enjoyed listening to them. B, I don't think they're gonna last that long. I think it's a lot harder than people realize to do it for a really long time.

So what's your take on this? Like, what what where does this kinda like, where does this go? Or, like, what what do you think is gonna happen with, like, everybody starting a podcast a, I love it as a fan. Like, I enjoyed listening to them. B, I don't think they're gonna last that long. I think it's a lot harder than people realize to do it for a really long time.

37:40

I think when you and I or when you first started this, the common thing was you guys are gonna run out of stuff to say.

I think when you and I or when you first started this, the common thing was you guys are gonna run out of stuff to say.

37:48

I hadn't really felt like that

I hadn't really felt like that

37:50

much. There's some times where I'm like, what else can we talk about? But in general, that's all that's only happened ten percent of the time. And I don't think they're gonna run out of things to say, but I do think that it's it could be a lot harder work. I mean, you're signing up for something. I'm shocked that Tim Ferris has done it for ten ten years. I think that it's it's a lot harder to do it for many years than people understand. Do you agree with that?

much. There's some times where I'm like, what else can we talk about? But in general, that's all that's only happened ten percent of the time. And I don't think they're gonna run out of things to say, but I do think that it's it could be a lot harder work. I mean, you're signing up for something. I'm shocked that Tim Ferris has done it for ten ten years. I think that it's it's a lot harder to do it for many years than people understand. Do you agree with that?

38:12

Yes and no. I think that, I think there's a problem with it. I don't think that's the problem. I'll tell you what it is, but but on the running out of things to say, I think most people will choose interview,

Yes and no. I think that, I think there's a problem with it. I don't think that's the problem. I'll tell you what it is, but but on the running out of things to say, I think most people will choose interview,

38:21

which is a kind of infinite runway

which is a kind of infinite runway

38:23

format. It's like, oh, you just bring somebody on, then you talk to them. Then you ask them questions. You bring another person. Ask them. What we do when we don't have guests on is a lot harder for

format. It's like, oh, you just bring somebody on, then you talk to them. Then you ask them questions. You bring another person. Ask them. What we do when we don't have guests on is a lot harder for

38:32

to to have longevity with because it's like, how many interesting things are me and Sam gonna be able to say of original content versus

to to have longevity with because it's like, how many interesting things are me and Sam gonna be able to say of original content versus

38:39

an interview or reacting to news. So I think reacting to news and interview or reacting to TV shows, like, that's always gonna be a format that has, like, infinite I think most people will do those and they won't run out of content. I think the problem is that how many podcasts on average are you listening to at any given month?

an interview or reacting to news. So I think reacting to news and interview or reacting to TV shows, like, that's always gonna be a format that has, like, infinite I think most people will do those and they won't run out of content. I think the problem is that how many podcasts on average are you listening to at any given month?

38:56

Five?

Five?

38:57

And you're a power user of podcasts.

And you're a power user of podcasts.

38:59

That's funny. Yeah. I mean, maybe less three to five. Right? And that's not a lot. Shelf space is just really goddamn small. I don't think I don't think most people will realize this. I I think they think, I don't even think it's a discovery problem. I think it's a discovery problem because

That's funny. Yeah. I mean, maybe less three to five. Right? And that's not a lot. Shelf space is just really goddamn small. I don't think I don't think most people will realize this. I I think they think, I don't even think it's a discovery problem. I think it's a discovery problem because

39:13

people cannot consume that many podcasts. So for example, I think what a lot of people do is they're like, oh, yeah. I use Twitter. I use Instagram.

people cannot consume that many podcasts. So for example, I think what a lot of people do is they're like, oh, yeah. I use Twitter. I use Instagram.

39:20

Oh, TikTok comes out. I'll I'll use TikTok. Like, they kinda think everything's social media, and your if your experience before was, well, if I'm just interesting, like,

Oh, TikTok comes out. I'll I'll use TikTok. Like, they kinda think everything's social media, and your if your experience before was, well, if I'm just interesting, like,

39:28

people can people will follow me. But it's like, I can follow

people can people will follow me. But it's like, I can follow

39:31

literally, like, five thousand people on Instagram.

literally, like, five thousand people on Instagram.

39:34

I can scroll through in one Instagram sitting, and I can see content from two hundred people in that, like, you know, that thirty minutes.

I can scroll through in one Instagram sitting, and I can see content from two hundred people in that, like, you know, that thirty minutes.

39:42

But my so the shelf space is huge on every other social media. But the shelf space is tiny on podcasts. People have listened to one, two, three on average in rotation.

But my so the shelf space is huge on every other social media. But the shelf space is tiny on podcasts. People have listened to one, two, three on average in rotation.

39:51

And so the question is, can you break into enough people's top one, two or three podcasts.

And so the question is, can you break into enough people's top one, two or three podcasts.

39:57

And you're growing up against a habit they might have had with other podcasts for five years. The hope would be they expand the the market new people start listening to podcast. And I'm sure that's gonna happen to some extent, but I think just like the supply demand is so off. The demand is so small. Of the number of podcasts somebody will regularly listen to that it doesn't matter how many new people create a podcast. It's gonna be very hard because the shelf space is too small. But you do realize that it's over two times the amount of people listen to radio than podcasts. I mean, if you go to where I'm from, and you talk to some certain people, they don't they're like,

And you're growing up against a habit they might have had with other podcasts for five years. The hope would be they expand the the market new people start listening to podcast. And I'm sure that's gonna happen to some extent, but I think just like the supply demand is so off. The demand is so small. Of the number of podcasts somebody will regularly listen to that it doesn't matter how many new people create a podcast. It's gonna be very hard because the shelf space is too small. But you do realize that it's over two times the amount of people listen to radio than podcasts. I mean, if you go to where I'm from, and you talk to some certain people, they don't they're like,

40:32

what's the podcast? Like, it's still listening to music, dude.

what's the podcast? Like, it's still listening to music, dude.

40:37

Yeah. But, like Right. It's not like AM radio. But there's still a lot of market penetration for podcasts, particularly amongst, like, a general population, like, someone who cares about LeBron. Like, I bet,

Yeah. But, like Right. It's not like AM radio. But there's still a lot of market penetration for podcasts, particularly amongst, like, a general population, like, someone who cares about LeBron. Like, I bet,

40:48

an athlete will get significantly

an athlete will get significantly

40:50

more new But what I'm what I'm saying is I think pot the best podcasts in every category are gonna grow, like you're saying, like, there's still ten x more headroom for them to grow, let's say. However,

more new But what I'm what I'm saying is I think pot the best podcasts in every category are gonna grow, like you're saying, like, there's still ten x more headroom for them to grow, let's say. However,

41:01

It's just that there's, like, the number of winners is very small in podcasting versus on Instagram. There's so many winners. So many people who have following. It's either small, like, just enough to keep you hooked, enough to keep you engaged. It's very hard to be a winner in any category. Like, let's say I wanna start a true crime podcast or a business podcast or a sports podcast,

It's just that there's, like, the number of winners is very small in podcasting versus on Instagram. There's so many winners. So many people who have following. It's either small, like, just enough to keep you hooked, enough to keep you engaged. It's very hard to be a winner in any category. Like, let's say I wanna start a true crime podcast or a business podcast or a sports podcast,

41:19

the the ones at the top are gonna keep getting more and more and more and more and more downloads because Like, you you have an audience now. So it's easier for you to do it. To do it from scratch, when you don't have an audience, I think it's basically impossible.

the the ones at the top are gonna keep getting more and more and more and more and more downloads because Like, you you have an audience now. So it's easier for you to do it. To do it from scratch, when you don't have an audience, I think it's basically impossible.

41:32

Yeah. Even people who have an audience. Look at like, even people who are who are successful or have some audience. It's very hard to to boot a boot a podcast up. I don't know. I think I think it's the shelf space problem is is my my take of, like, what what the limiting factor here is. It's just that there's only so many number of humans who listen to podcasts. That number is growing, but the number that's not growing is how many different podcasts they're gonna regularly to because they only have so much ear time that they're gonna dedicate to ear entertainment. Right? Is it good? The JJ and Lebron one?

Yeah. Even people who have an audience. Look at like, even people who are who are successful or have some audience. It's very hard to to boot a boot a podcast up. I don't know. I think I think it's the shelf space problem is is my my take of, like, what what the limiting factor here is. It's just that there's only so many number of humans who listen to podcasts. That number is growing, but the number that's not growing is how many different podcasts they're gonna regularly to because they only have so much ear time that they're gonna dedicate to ear entertainment. Right? Is it good? The JJ and Lebron one?

42:01

I would say it's amazing,

I would say it's amazing,

42:03

and I mean that in the literal definition of the word, not like the content is amazing.

and I mean that in the literal definition of the word, not like the content is amazing.

42:07

It's just, like, I am amazed that this is happening. I am amazed that LeBron James is sitting down and explaining to me,

It's just, like, I am amazed that this is happening. I am amazed that LeBron James is sitting down and explaining to me,

42:15

like, the the marching Gore Taught screen. It's like, oh, what's the Goreott screen? And he's explaining what this is. What how it works, whatever? I think they really need to work on getting the, like,

like, the the marching Gore Taught screen. It's like, oh, what's the Goreott screen? And he's explaining what this is. What how it works, whatever? I think they really need to work on getting the, like,

42:26

like, they need overlay. It's like way too x's and o's. Like, they need the overlays where you're gonna be able to see an actual clip of what they're talking about because it's, like, so abstract

like, they need overlay. It's like way too x's and o's. Like, they need the overlays where you're gonna be able to see an actual clip of what they're talking about because it's, like, so abstract

42:35

that the average person's not gonna be able to follow. The other thing is I think it's gonna be hard for them to resist. So what's what's happening now already, you could see is the clips where it's just Lebron talking about the turning point where he, you know, when they before winning his first championship. It's a story time with LeBron. Story time with LeBron is always gonna ten to a hundred x more views than

that the average person's not gonna be able to follow. The other thing is I think it's gonna be hard for them to resist. So what's what's happening now already, you could see is the clips where it's just Lebron talking about the turning point where he, you know, when they before winning his first championship. It's a story time with LeBron. Story time with LeBron is always gonna ten to a hundred x more views than

42:54

Lebron and JJ Redic explaining this defensive coverage and how to how to how they make adjustments to it. Right? Cause it's like, One is just a juicy story, and the other is, like, really hard math that you need to learn. The best, the basketball basketball equipment of math, And so I think what's gonna be hard is their editors gonna be like, alright. Cool. We should just, like, hey,

Lebron and JJ Redic explaining this defensive coverage and how to how to how they make adjustments to it. Right? Cause it's like, One is just a juicy story, and the other is, like, really hard math that you need to learn. The best, the basketball basketball equipment of math, And so I think what's gonna be hard is their editors gonna be like, alright. Cool. We should just, like, hey,

43:11

ask LeBron, like, if he thinks it's better than Jordan, because that's gonna get ten million views. Like, It's just so there for them. And it's gonna be interesting to me to see. Do they stick to the spirit of what they wanted to start with, which is x's and o's real basketball talk? No hot takes. No. No. It's not an interview with LeBron James, which would always do well. It's like them talking about, you know,

ask LeBron, like, if he thinks it's better than Jordan, because that's gonna get ten million views. Like, It's just so there for them. And it's gonna be interesting to me to see. Do they stick to the spirit of what they wanted to start with, which is x's and o's real basketball talk? No hot takes. No. No. It's not an interview with LeBron James, which would always do well. It's like them talking about, you know,

43:33

spacing on the wing, you know, like, random, like, basketball, x's and o's tactics. It'll be very interesting to me to see, like, six months from now what's happening. But you know what? Even if it's just a mini series, even if they just did, like, twelve of these,

spacing on the wing, you know, like, random, like, basketball, x's and o's tactics. It'll be very interesting to me to see, like, six months from now what's happening. But you know what? Even if it's just a mini series, even if they just did, like, twelve of these,

43:44

still phenomenal, amazing for JayJuretic,

still phenomenal, amazing for JayJuretic,

43:46

amazing for LeBron's brand, cause I watch this. I'm like, oh, shit. I get why they say this guy's got crazy basketball IQ. Like,

amazing for LeBron's brand, cause I watch this. I'm like, oh, shit. I get why they say this guy's got crazy basketball IQ. Like,

43:53

JJ Redic will bring up some play that happened four years ago in the Bronx County. I remember. The man. Too. Right? He he's such a he's so good. But he'll bring up something, and LeBron will have, like, perfect photographic memory recall of the play four years ago on a Tuesday night in Orlando.

JJ Redic will bring up some play that happened four years ago in the Bronx County. I remember. The man. Too. Right? He he's such a he's so good. But he'll bring up something, and LeBron will have, like, perfect photographic memory recall of the play four years ago on a Tuesday night in Orlando.

44:07

That's just kind of amazing. So for his brand, it's like what the last dance kinda did for Jordan where it's like, oh, man. Jordan's just amazing. LeBron is also, like, playing the legacy game where he's building his brand of, like,

That's just kind of amazing. So for his brand, it's like what the last dance kinda did for Jordan where it's like, oh, man. Jordan's just amazing. LeBron is also, like, playing the legacy game where he's building his brand of, like,

44:18

dude, LeBron just knows his shit, man. His basketball cue is the greatest of all time. Like, he's trying to be the greatest of all time in other ways. And so even if they only do ten episodes and never do it again, mission accomplished. Dude, but what I liked about Jordan was that he didn't give a shit. Like, he cared, like, you know, if you ask Jordan to come on the the podcast, he'd be like, dog. That's beneath me. Like, not not a chance. And I kinda like that podcast weren't good at the time. He went on Oprah and he's smiling and he's, you know, giving away stuff on Oprah. Like, he did the things that were the equivalent of podcasts at the time. Right? Like,

dude, LeBron just knows his shit, man. His basketball cue is the greatest of all time. Like, he's trying to be the greatest of all time in other ways. And so even if they only do ten episodes and never do it again, mission accomplished. Dude, but what I liked about Jordan was that he didn't give a shit. Like, he cared, like, you know, if you ask Jordan to come on the the podcast, he'd be like, dog. That's beneath me. Like, not not a chance. And I kinda like that podcast weren't good at the time. He went on Oprah and he's smiling and he's, you know, giving away stuff on Oprah. Like, he did the things that were the equivalent of podcasts at the time. Right? Like,

44:51

He was very image conscious. You know, the great quote about Jordan,

He was very image conscious. You know, the great quote about Jordan,

44:55

the the the, they're like, will you take a stand politically? Like, you know, who do you support for this election? And he said

the the the, they're like, will you take a stand politically? Like, you know, who do you support for this election? And he said

45:01

Republicans buy shoes too. Yeah. And so he's like, I'm not gonna comment Jack's shit about this because I'm I'm here to sell sneakers. It's You know, the guy was very image conscious.

Republicans buy shoes too. Yeah. And so he's like, I'm not gonna comment Jack's shit about this because I'm I'm here to sell sneakers. It's You know, the guy was very image conscious.

45:10

I don't give a shit about sports, but anything of the brand is part of, honestly, I would listen to it. I appreciate, like,

I don't give a shit about sports, but anything of the brand is part of, honestly, I would listen to it. I appreciate, like,

45:16

the best talking.

the best talking.

45:17

Exactly. There's a appreciate greatness. Also, it's just fascinating to see, oh, that's interesting.

Exactly. There's a appreciate greatness. Also, it's just fascinating to see, oh, that's interesting.

45:22

What would you do if you got the a list a plus plus

What would you do if you got the a list a plus plus

45:26

star in their still active in their game

star in their still active in their game

45:30

to sit down and do a podcast with you. What would you do? And how would you do it? Would you stop the vibe? Oh, they're popping wine. They're drinking wines because they're both into that, but that gives a different casual feel. They film it in a certain way. As a content nerd, there's a lot to pull from it. Who's producing it? Do they own it?

to sit down and do a podcast with you. What would you do? And how would you do it? Would you stop the vibe? Oh, they're popping wine. They're drinking wines because they're both into that, but that gives a different casual feel. They film it in a certain way. As a content nerd, there's a lot to pull from it. Who's producing it? Do they own it?

45:45

Tommy Alter and, Jason Gallagher, I think, is the the producer of it. Yeah. They, it's like a collab between JJ's media company that he does with Tommy and LeBron's media company uninterrupted, and so they came together to I mean, that's a huge poll for JJ. Right?

Tommy Alter and, Jason Gallagher, I think, is the the producer of it. Yeah. They, it's like a collab between JJ's media company that he does with Tommy and LeBron's media company uninterrupted, and so they came together to I mean, that's a huge poll for JJ. Right?

46:01

Oh, dude. That's, like, yeah. It's, like, Travis gelsick dating Taylor swift or something here. It's, like, Shashiela is great. You're one of the great tie downs. JJ Reda was a great basketball player.

Oh, dude. That's, like, yeah. It's, like, Travis gelsick dating Taylor swift or something here. It's, like, Shashiela is great. You're one of the great tie downs. JJ Reda was a great basketball player.

46:10

But goddamn, that's a great pull still. Yeah. That's a good pull. Alright. Is that it? Is that the pod? Yeah. That's the pod. Alright. That's the pod.

But goddamn, that's a great pull still. Yeah. That's a good pull. Alright. Is that it? Is that the pod? Yeah. That's the pod. Alright. That's the pod.

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