00:00
Okay.
00:01
Next one.
00:03
Hosted buyer meetings on a plane. B2B decision makers get a free vacation if they agree to have number of conversations on a flight. It's like the timeshare idea. It's like so you get a free flight,
00:14
but it's you're gonna get a plane
00:17
full of vendors. It's like that movie Snakes on a plane. There it is. Snakes. It's just b to b software vendors. Just way to just barrage you for the next seven hours on your way to Maui.
00:35
Here's I'm gonna tell you about something that's interesting. There's a guy who I love and his name's Anan. Do you he started CB Insights. Do you know him? Yeah. Listen to the pod. Love the guy. Yeah. He's a great guy. He's one of my good friends. And I was thinking about this. So there's a lot of things that second time or third time entrepreneurs think about that a mostly first time entrepreneurs don't think about. One of them being distribution.
00:57
So they'll think, like, oh, I'm just gonna make a cool product that they'll somehow get into people's hands. That's false. You gotta have marketing baked in or, like, it's gonna be part of, like, the ideation phase marketing. The second thing is pricing.
01:07
They think, oh, I'll just charge five dollars a month and I'll get millions of people to buy this, and then you actually start doing it and you're like, wow, this is incredibly challenging to get thousands or tens of thousands, let alone millions of people to buy something. That's really hard. And so I've been thinking about that pricing thing. So things that fit my wants and my needs and my skill sets. So, for example, content,
01:26
There's industry dive, which probably only has five or ten million
01:30
people a month reading their website, but they make shit for, like, people who own grocery stores, like content for people who own grocery stores, versus Buzzfeed, which makes stuff for stay at home moms who like cat videos, Buzzfeed worth a hundred million. Industry Drive does the exact same thing. Way smaller audience makes are, sold recently for five hundred or six hundred million dollars. So, like, I've been thinking about, like, those that price is, like, that that the different ways of packaging.
01:51
And so Anan from CB Insights, he's got this company that's brand new. It's only ninety days old. It's been way low key and under the under wraps And I recently discovered it and I asked him. So it's called yardstick. So go to yardstick dot com and tell me what you see. It's called yardstick. So it's the word yard, like a backyard, and then stick is s t I q.
02:12
He's getting a little cute on us. Let's see. Okay. So yard stick powered by CB Insights,
02:17
Learn what software buyers really think about their vendors.
02:21
Great title. Great headline. Yeah. And then it says access thousands of analysts led conversations,
02:26
what software buyers to quickly understand pricing, competition, evaluation criteria, and subscription, and satisfaction. So, basically,
02:32
they
02:34
interview
02:34
software buyers and they get the scoop on how do you really feel about X tool? And then they summarize it so that you can
02:42
you could see how other people think about this tool before you buy it. Exactly. That's it. And they charge, like, something like
02:49
They charge, yeah, it's really smart. And I'll explain how this works, but they charge, like, thirty or forty thousand dollars a year for this. And I think this could be a hundred million dollar a year business. And they're just that I'm I'm downplaying,
03:00
but right now the MVP is just interviewing people and showing transcripts. Eventually, I'm sure they're This is really smart. Remember you talked about this back in the day because there's that website, what is it? G two crowds. Yes. Exactly. And, there's basically, like, software is a massive category. And people are like, oh, which CRM should I use? And it's like, oh, you know, it's HubSpot fighting with ten other people to try to be the answer to that question. And so reviews is always the thing that people are trying to, like I think people in general
03:29
want the idea of a review, but it's hard to trust reviews nowadays. You don't know if the reviews are faked. You don't know if they're from people like you who have the same problems as you.
03:38
And the website, like, you know, g two crowd and these other ones, they're pretty And I've seen a I've seen several people try to create a new
03:44
software review site to compete with them, and they have to do two things. One, they have to actually be better at the reviews. And two, They have to rank higher in SEO
03:53
for when somebody searches for, you know, whatever X tool alternative or what's the best which is hard. Sales tool for me to use, and it's really hard to beat their SEO. And so they're fighting a very uphill battle. This, I think, is smart for two reasons. One, they already have a bunch of customers that they could just sell this sell into with this. To the
04:14
idea of instead of saying, okay, well, whoever reviews it, hopefully, they're good reviews. They're like, no. We're just gonna hire people to do these conversations, and, like, the math works out. If we get these brands
04:24
to say what they think about these tools,
04:27
you know, we might only need to invest I don't know, two hundred thousand dollars into the to the collection of that data, and that gives us, like, like, a better review, a better,
04:38
content system.
04:40
And it well, you've nailed everything. And there's a third thing though, which is basically g two or,
04:46
software reviews dot com or a lot of these web the way they typically work is they give an affiliate fee or some type of, like, advertisement fee. They they collect that from the brand who wants to advertise on the website, which means they have to go and get traffic And they've gotta convince these brands to give money, whereas this business yardstick, it does exactly what I said before. It changes the way they package it. And so they just go, No. You're the customer. You're gonna read this and you're gonna get value from this. You're giving us thirty grand a year. And so we're just gonna make shit for you, and it's just that's our that's our that's our exchange. And so that's what we're gonna do. And so, basically, the background behind this business is,
05:19
this is something that I didn't know about until recently, and probably you didn't either. Because we both had small companies. And so a small company in this definition is anything that's below a billion dollars in in market cap or value. Meaning, typically, the people who buy this shit have five hundred employees. And the reason that's important is when you buy a software provider or you buy a CRM or you buy, like, some type of, What's it called? Were you, like,
05:42
your customer like, you do give customer feedback, like, or you, like, interact with your customers and your customer service agents use it? Doing business. I don't know. Customer happiness. I don't you know, whatever, like, the software is, like, a Zendesk or something like that. So but, like, picking the wrong software, if you are a five hundred person company, it will cost you, like, so much money. And so you have to do actually a fair bit amount of research, including, like, who invested in this company. So I know they're not even gonna go out of business. And I never even a million years thought about that. I'm like, dude, I'm just gonna Google, like, what's better gusto or zenefits? And, like, we'll just pick one and then we'll switch if it sucks. And so what yardstick is doing is they actually have just it's Anan and seven other employees.
06:20
Are the the early people starting this company and they basically just ask, like, seven questions to people who have bought software,
06:26
in the last two years. And they say, like, who else did you consider? Who'd you pick? What price did you pay? Would you renew what's your customer satisfaction?
06:34
And then,
06:35
the people who purchased this yardstick product are either investment bankers. So people who are, like, making investment decisions from the public markets or or private markets, and they wanna know what the customer satisfaction is. Or people who are going out and buying software, and they could see these other reviews. And it's just like a really interesting business because there's
06:53
there's a company's like GLG, you know, GLG.
06:56
It's like, you get paid two grand an hour. LG calls back in the day? Yeah. You get paid two grand an hour to, like, answer questions, but that's one to one. And so what they're saying is like, no, we're not gonna do one to one, but we'll just make it so you could just read like dozens and dozens of interviews. So anyway, interesting company for all everything I But secondly, it's an interesting company because this business is only ninety days old. And I think if you go and sign up for their email list now,
07:17
it's kinda like you can watch like a big business being built in real time.
07:22
Yeah. This is really good. Like, I'm jealous. I didn't think of this idea.
07:28
I kinda wish he had just done this outside of CB Insights. I feel like this could again been his next hit. I think it's gonna be as as
07:34
CB Insights. So I think there's
07:37
slight, you know, although it's good to be able to sell into the same customers,
07:40
I think it would have been worth it to,
07:43
you know, spin this out. But, you know, that's a that's a com more complicated decision. By the way,
07:48
this guy, Anan, he has
07:50
a giant list of startup ideas. Have you seen this? No. Where?
07:54
I'm trying to find the list. I remember seeing it on
07:58
Twitter one day.
07:59
But,
08:01
Here, what well, why look for a second. The the background behind a non is he started CB Insights. They're close to a hundred million in revenue. He's kind of a shithead in a really good way. For example, he signs he he writes their daily newsletter and he signs the newsletter with I Love You. Or in his Twitter file, it pro profile, it says, please sign up for CB Insights. I owe people money. And, like, he is, like, like, kind of like a cheeky, like, mischievous guy and very, very likable. And that's and his content's amazing. And so that's Anan's really interesting.
08:32
If you if you wanna know what speaks to our heart,
08:35
you gotta be
08:37
somebody who's trying to do something. So you gotta be ambitious or successful in some way The second thing is
08:42
a little bit of a shit head. So, you know, like, have that
08:46
I don't like to eat my wings without sauce You gotta have a little dipping sauce to your personality if you're gonna if you're gonna get me on board. And he's got the sauce. Alright. So let me tell you some of these ideas. So I don't have the full list. I remember seeing this like, a year ago or something like that.
09:01
We should get them on the pod, but let me just read a couple of the ideas that were tweeted out from this list. Okay. So
09:07
First one,
09:08
tough mudder for kids.
09:10
So
09:11
here's what he says. Really any sort of manufactured adversity for semi affluent or affluent kids.
09:17
Prepares talk about wanting their kids to have prospective resilience and reduce their entitlement and get them off screens,
09:23
tough motor for kids. Super high margin, unsure if,
09:27
you know, unsure exactly how it work, but money should be made for sure. Okay?
09:32
Spartan races now. Spartan races, I'm I'm signing up for one. They actually have a kids version right now. Tiny spartans. I don't know if his house was called, but, you know, we can pretend. What's your name?
09:41
Startup idea, duolingo for teaching finance or accounting. Peace the principles of accounting or finance via Gameafide duolingo style app. Do you give that one?
09:49
Yeah. That's cool.
09:50
Okay. Next one.
09:53
Hosted buyer meetings on a plane. B to b decision makers get a free vacation they agree to have x number of conversations on a flight. It's like the timeshare idea. It's like so you get a free flight,
10:05
but it's you're gonna get a plane,
10:07
a full of vendors. It's like that movie snakes on a plane. There it is. Snakes. It's just b to b software vendors. Just way to just bharas you for the next seven hours on your way to Maui.
10:19
And just tons of coke and and just everything that, like, a forty five year old guy named Todd who wears tight blue jeans and brown shoes, whatever they need to, like Yeah. This is Jennifer. She wants you to call her Jenny, and she happens to like you.
10:34
I think it's actually,
10:36
I think you actually could build a business that way if I'm If you sign free trial, you get to go to first class. That'd be great. Yeah. This is actually, kind of a genius idea. Okay. Here here we go.
10:46
Biable Google doc travel itinerary. So friends often share their travel plans via Google Docs, you know, here's what I did in Iceland.
10:53
Since they're friends, I test your judgment.
10:56
Know, the idea would be let me just buy the whole itinerary with the buy now button. My vacation plan is done. Awesome. Big reaction. Okay.
11:04
That's a small business, but cool.
11:06
When loss reporting for employee
11:09
hiring an attrition. So when somebody doesn't accept your job offer, the service would would dig in and find out the real reasons why when somebody leaves the service digs in and finds the real reason why. It would maybe anonymize or synthesize the inside over time. Today, the process is very ad hoc.
11:25
That's a great idea. That's a great idea. That is a really good idea.
11:28
Wow. That's a that's a solid one. Okay.
11:32
Here's, not so solid one, but more fun. The Nike of baby diapers.
11:37
So create high performance premium diapers,
11:39
use sodium polyacrylate
11:41
to make them super absorbent like astronaut diapers.
11:44
Other tech to increase comfort may clean up easier why because parents spend a stupid amount of money on their kids. Okay. Dude, anytime
11:51
anytime you say it's the Nike of something, it's like when I see a restaurant on the side of road, it says world's greatest coffee or, like, the best pie in town, I automatically buy it. That's my rule. If it says it's the world's greatest, if you're just bold enough to think that, I I'm gonna try it. I bid. Dude, I had the same realization yesterday.
12:07
Where I was listening to some talk where Johnny Ive was talking.
12:10
And,
12:12
and I I knew somebody who met Johnny Ive, like, used to hang out with Johnny Ive regularly. They, like, live near each other in San Francisco.
12:19
And I was, like, oh, what's Johnny I've liked? Right. For those who don't know, he's basically the the head designer at Apple for, like, all the great products, iPad,
12:27
you know, whatever, Macintosh,
12:29
you know, iPhone, all that good stuff. So this guy's like the, basically, the greatest product designer in the world. He's the guy Steve Jobs trusted the most at Apple.
12:36
I was like, what's he like? And they're like, oh, you know, he's kinda like you would expect. He's like, you know, He's he's got a sort of a dry, but but funny personality. He's a he's a pretty focused individual. Like, he's not, like, effing around a whole lot.
12:48
You know, he works really hard.
12:49
And,
12:50
they'd be like, yeah. John they come to me. They'd be like, yeah. Johnny had an idea.
12:54
I was like, oh my god. What's this Johnny I have idea? I don't remember the specifics. This was like eight years ago or so. But they just set up for every idea. But it'd be like
13:02
a closet that's beautifully designed.
13:06
What does that mean? And then I realized I started using this. I'd be like, you know what you guys should do? Like, I was giving somebody advice today. I was like, you know, in your when you guys is a ecomm brand. I was like, when you send your package, you should put in there just like beautiful
13:18
pamphlet. Just like super well done. That just will make somebody, they'll read it, they'll know your story, but just just a beautiful pamphlet.
13:26
And then and I realized I was like, wow. If you just say, like, a beautiful thi a beautiful, and then just, like, generic thi and say, just super well done. The idea goes from, like, a whatever idea to, like, great idea. Yeah. I could see that. It's like when now. Honestly, it's not totally BS. There is something to it. If you said, like, you know, let's just make like, a really, like, just a hilarious
13:50
YouTube video.
13:51
It's like, actually, that is the correct strategy.
13:54
You know, but there's not much more to it. This is a question. Can you can you do something that's actually beautiful or really well done or really funny? But honestly, that's not a bad business plan for most things to just say just a beautifully done. Just all the details nailed.
14:08
It's like when Andrew Wilkinson says
14:11
we try to buy wonderful companies.
14:14
Right. And, like, our beautiful businesses. We wanna buy beautiful businesses. Fries, like, a job board.
14:19
Yeah. I was, like, wonderful. You're right. That is It's wonderful.
14:24
He's like, okay, we're gonna bake this cookie,
14:27
but
14:28
it's just gonna melt in your mouth. And they're like, okay. I'll write I'll write up in. It's like, you know, otherwise, it's just a cookie.
14:34
And so I think there's something to this. But, alright, I'm gonna keep going. By the way, I feel like I'm reading this guy's diary It just, you know, I feel I feel wrong just taking all these startup ideas here. Still rapid fire. It's gonna be like on twelve episodes of content for us, but I'm gonna come through it. Let's just steal it.
14:50
Well, I know, but I'm like, I wanna just use them all now and binge eat this whole, like, tub of ice cream right here. Let me give you a couple more.
15:00
Happy cam, a highlight reel of the best moments of your life. How? A wearable camera that records audio and video only when you're laughing. It captures the conversation of who you're with and great moments. Alright.
15:10
Victitious.
15:11
Even the great ones are gonna miss once in a while.
15:15
Just to show a little balance here.
15:20
Okay. How about
15:23
Let me pull up another one.
15:28
Okay. How about this?
15:32
He also wrote bad start up ideas, I think. So bad but sexy. So start up ideas that suck you in but they're actually bad start up ideas. Here we go. Yeah. Personal CRM.
15:43
Always a bad one. Preaching to the choir. Yeah. So you're probably There's recommendations.
15:49
Well, it in most cases, it's bad. But, hey, look, that's what you be We gotta do that one. Yeah.
15:57
It's something gonna be, like, a college campus, like, craigslist and then, like, laundry on, like, delivery laundry.
16:05
Here's one. What are my friends up to right now, apps? These apps, I promise you, hey, what if your friend was two blocks away? You didn't know. This with this app, you could have met up with them. No. Wrong.
16:15
Dude, by the way, did you know that girls
16:18
share their location on their iPhone with other girls? Like, my wife does this with her friends. Did you know people that? Safety purposes?
16:25
I don't know why they do that, but, like, I was out with, like, my wife and a bunch of friends, and they all did the same thing with themselves, like, that group of friends and other people. Like, they know they're where their real time location is at all times. Hold on. Why, what? Honey, why are you going to the car? Friends going to the restroom, but she wanted somebody to go with her. I'm driving to meet up with her.
16:45
Dude, it's crazy. They I don't even know how to use that picture. We're I don't even know where the feature is on a phone. I don't know. You click a thing and it says, like, share location for an hour or share indefinitely. Yeah. Seems like a trap.
16:55
Right. You're not gonna happen. To do list software. Yep. That's one, classic start up idea that everybody does.
17:02
Glassdoor for VCs, a a website that reads VCs. Nobody really cares very much about VCs. They're infrequent decisions for most entrepreneurs. They'll take money from who they can get. Yeah.
17:11
In in most cases, founders are lucky enough to have a good choice. They probably already know who's good. Okay. So those are some of the things that bad start up ideas, but he's got a bunch here. I'm not gonna We should have him on. Yeah. The guy is interesting. He's pretty He's earned his he's earned his spot for sure. I forgot to remind you these last few times, you being the listener about our gentleman's agreement. So, like, have you ever yes. There's, like, have you ever gone to seven eleven and you've seen, like, like, an Alzheimer's or, like, a sick children's, like, bowl and you, like, leave a quarter and you take a piece of candy? Right. So that that whole thing works, and they use this thing called an honor system, a gentleman's agreement where you put down a quarter and you take a piece of candy and it just, it just works. That's kind of what our podcast is like a little bit with subscribing to our YouTube channel. So Sean and I spend all this time. We talk about stuff constantly about what we're gonna do on the pot. I live an epic life, actually, just so I can talk about it on the pot. I dedicate my life to this. And all I want in exchange is not even a quarter. It's just for you to click subscribe on YouTube. So if you're listening to this on iTunes or Spotify, whatever, just go to your YouTube and just click subscribe. That's all we want because that helps
18:16
the algorithm, we get a little bit higher, and then we'll just it helps our ego. I mean, that's really all. Today, if you're making the choice between Alzheimer's, children, and us, make the right choice.
18:26
Choose us. Yeah. It's great. It's crazy. Sixty percent of our YouTube views come from people who don't subscribe.
18:32
And -- That's crazy. -- all I can ask them is,
18:35
are you not entertained? Do you not want more of this? Click subscribe. Alright. So that's that.
18:40
Gentleman's agreement
18:41
reinforced.
18:42
And everyone's been doing it lately. So if you don't do it, you're gonna you'll look silly. So I think you should do it. Alright. Okay. I wanna talk about a different little trend that I've seen on Twitter. And I call this
18:52
the guy mafia.
18:54
I saw that line. I thought that was really funny. I mean, I would have called the guy mafia, just the mafia. But
19:00
the guy mafia.
19:01
Well So what what am I what am I calling the guy mafia? You've probably seen this trend
19:06
Like, I feel like it's kinda new, but it's basically a whole bunch of Twitter accounts
19:12
that are
19:14
branded, like,
19:15
car dealership guy,
19:18
mobile home park guy, strip mall guy, self storage guy. Right? There's, like, And they're basically just saying it's an anonymous account. So you don't know who's behind it.
19:28
The promise is basically, hey, I'm an
19:31
I've been in this this this space for a while. I got, you know, I've been doing this for ten, twenty years.
19:36
I will share insights,
19:38
but also kinda like industry secrets
19:41
about the way our industry works, the, you know, the the the dirty laundry.
19:45
And,
19:46
these accounts are blowing up. They get really Blowing up. Really fast. I just bought a car from car dealership guy. Did you really? I don't know who this guy is. I just yeah. I I just dropped Dude, I almost bought a car from him too. Looked on a car from him too. Tell people who he is. Well, no. I don't wanna say his his identity. Yeah. He did. He did. He did actually, he told me his identity, but, like I know who he is too. So he's car dealership guy on Twitter. He basically he's always just treating out about, like, you know, insights into the car market, right, which I like following. Right? Because I wanna know about the car market without doing any work. So he's like Here's one that he just tweeted.
20:18
He said the market is literally flooded with Buicks. They're rotting on car lots like trash. You could score a deal needs if you're willing to suffer the embarrassment of being seen in one. Bewicks are at a hundred
20:29
Bewicks are at a hundred and twenty one day supply for contact Toyota is less than thirty day supply, ridiculous. The simple people terms. Day supply means the number of days it would take to deplete the current new car inventory at the current rate of sales. And so immediately, I went, let's go look at a Buick.
20:47
Yeah. These guys are very influential. I'm telling you. Right?
20:50
Spend a lot of money on a car, through the through this guy that I never saw. So what he's doing with his, like, conservation service, which so, okay. Let me give you the the full idea then then I'll break it down. But here's we'll use him as an example. So it creates the car dealership guy. And I don't think he's been
21:05
at it for very long. So, let me pull up kind of the the December twenty one.
21:10
So December twenty one. So that's one year, basically.
21:13
He added ninety three thousand followers in the last thirty days.
21:17
Oh my god. Is that two hundred and twenty five thousand now?
21:21
Literally, when we wrote this thing, like, you know, two days ago, we did the research for this. She was at two nineteen. So, like, two days, he added six thousand dollars. This guy is blowing up.
21:30
And what he's doing is tweeting out insights. Like, okay, you know, here's what the used car prices are doing. Here's what the market is. Here's which models and makes are are hottest right now. Here's why G Wagons are selling for this, and here's where I think that's going. Here's what's happening with auto loans, and here's what that means for the industry. All that good stuff. Okay. So he he gets the following because he's tweeting out interesting stuff. Secondly,
21:50
he then says, okay. Well, what do I do this? What do I create a a newsletter, paid community? You know, people are like, well, the Sam and Sean playbook, you know, they open up their little, like, red red book, and they're like, is this what I wanna do? But, actually, he got some good advice from a buddy of mine who said,
22:06
screw that. Don't don't make a newsletter, then try to find ads. Your sponsors are paid. He goes, Just help people buy cars.
22:12
You're building up a load of trust on Twitter.
22:15
People will buy cars from you. In fact, go buy me a car. So my buddy, is, like, I wanna buy a Toyota Sequoia. And I think there's, like, Toyota Sequoia who's telling me he's, like, some crazy things where it hasn't been updated in, like,
22:27
fifteen or eighteen years or something like that. Like, the last update was, like, a two thousand four or some shit like that. And there's, like, a hundred thousand person waiting list for the Toyota Sequoia. Something like crazy number like that. And he's like, yeah, but I bet there's gotta be one somewhere in the country. You know what? I'll get I'll buy in any color, any goofy color.
22:45
And this guy, because car dealership guy is,
22:49
has a background as a dealer, he can -- At least we think. -- access the car dealership, the car dealer network. Basically, they can buy cars. They have, like, their own little MLS system. Right? So they can buy cars out of auction,
23:01
and what that's how dealers acquire cars and then they could sell those cars at a retail market. And so what he's doing is he's just buying cars out of the auction.
23:09
Not really applying the retail markup and just charging a flat fee as a concierge for purchasing the vehicle.
23:17
Which we talked about before. We talked about negotiating a, negotiating car price as a service from a guy who, like, knows the in and outs of car dealerships and knows the time of month, who to talk to you, what to say, things like that. This is like that, but more in-depth. And so I told the guy, I was like, hey, I wanna escalate.
23:34
And he's like You wanted to escalate? I said I wanted to escalate. And by the way, hilarious thing. I go, I was like, you know, Let me just re I was like, I'm I'm not gonna go test drive these cars. Nothing. So I was like, let me just go read the reviews online real quick. But if you search for, like, reviews, you get these, like, It's like, dude, is this just like some SEO optimized websites? So I go red. Right. Let me go to Reddit and see what people are saying.
23:55
Let me tell you how people on Reddit feel about. Card dealerships. The same way that people in prison feel about pedophiles.
24:01
Like, people on Reddit do not, like, escalate.
24:04
They are, like,
24:06
dude, I've never met a non jerk in an Escalade. Right? Like, Escalade. Yeah. You're gonna start smoking cigars.
24:12
Drug dealers and desperate housewives.
24:15
And then I was, like,
24:17
Hey, guys. Category number three, Indian podcasters.
24:21
Here we go. And so Wait. Are you getting the hybrid one or the electric one or something like that? No. No. No. You gotta get full on. But they have good self you know, they have great self driving technology. I actually looked at one too.
24:32
I didn't do that much research to be honest with you. But, just got the the big one. So the the the extended version. So anyways, the my point is a lot of trust, but, anyways, bought a car with this guy. So Dude, you live in the suburbs of San Francisco and you drive escalate, you are warping into something.
24:48
I don't know exactly what it is, but there's definitely a stereotype that you're fitting it to.
24:52
You're like the Tony Soprano of Danville.
24:59
I can't believe that. Let me tell you some of these other guys. So we have stripball guy who you know, he's basically boss. Like,
25:07
little strip malls are like, I don't know. I don't know what you would call, like, these little, like, b class shopping centers.
25:11
There's the Wolf franchise Wolf franchise Wolf is a guy who talks about buying franchises and what franchise is doing. Oh, crumble cookies exploding like crazy. Here's what's going on with that franchise.
25:23
That's a great that's a great niche to be in because
25:26
interested franchise buyers are super super valuable. That's that customer, a lead who's interested in buying a franchise is worth tens of thousand dollars to these, companies.
25:37
Secret CFO.
25:39
Another great name. I didn't go with the guy, but I like secret CFO. So I like franchise Wolf I like Secret CF, these are great names, great brands.
25:47
And I think they work for a couple reasons. Number one. About,
25:50
the the watch guy. I talked to him. I almost bought a watch from him. Just will post. Even know about him. Yeah. There's a it's a he's it's a watch guy. It's called,
25:59
well, I think just watch guy, actually.
26:01
I I see a new one, like, every day right now. And, by the way, this is gonna get flooded. It's already getting flooded because people see it now that we're talking about it and breaking it down,
26:11
everybody who's like, I am a dental hygienist,
26:14
dental hygienist guy. You know, like, there's gonna be, like, just, like, a ton of these coming out. But honestly And they all use cartoons as their avatar. By the way, I sent you in the Riverside chat, the Luxury Watch guy, and he does the exact same thing. He goes, here's what I'm seeing. This Rolex retails for twenty thousand. It's a eight month wait. And so, therefore, what we're actually seeing is people are buying it for thirty five thousand. Or -- Right. -- this month, mostly because of the crypto guys, this particular,
26:38
model of Rolex is going way down because they're selling it because they need to afford rent. And by the way, if anybody wants to Do the the NFT guy,
26:47
you know, for for for crypto. You know, we'll hire you for the bill card. We'll pay you to build this account, if you're good. So so so basically,
26:55
this is the trend. Okay. So why do I think this works? Number one,
26:59
the the value proposition is in the name. You don't even need to click to the bio. They're a walking billboard
27:05
for what value they're gonna provide to you. What what they're gonna teach you about. I think that sets them apart from just like, oh, this is Steve,
27:13
you know, Steve Erwin.
27:15
You you know, you don't know that he's the nature guy. Right? Like, you don't know that you have to there's still a leap of faith. You have to click in, read the bio, then you get the then you understand the value. Here, it's right on top. Second thing, they promise basically data,
27:28
insights, and industry secrets, and people really like industry secrets.
27:33
And so you can go viral with some of these, like, here's the dirty little secrets about buying a used car or buy go about what happens when you walk into a car dealership?
27:42
I sat in these rooms for thirty years. I know what conversations
27:45
the bot the seller is having when you walk in like a fish. And it's like, I gotta click this. I gotta read this. And at the end of it, I'm gonna trust them as a niche expert.
27:54
So I think those are the two kinda, like, core reasons that it works. It's also just a focused fee. So versus
28:00
my account, sometimes you're gonna hear me talk about sports. You're gonna crack a joke. I'm gonna complain about my kids. And then sometimes I'm gonna sweet tech stuff. And in reality, people just kinda want you for one of those things at at upfront. Upfront, a focused feed is gonna do better. So I think that's why these are these are working.
28:16
And, and I think all of these people who do this are gonna make at least
28:21
low millions of dollars and a few of them who've really learned how to capitalize capitalize on this, are we'll make tens of millions of dollars of a business that basically the core of their business is just this Twitter account. Where they are the,
28:35
you know,
28:36
the gas station guy. Like, I saw one stage. It was mobile home park guy. Tweeted one interesting thing about mobile home. I insta followed. I have no real desire to buy a mobile home park, but I kinda wanna know about it, be smarter about it. And then
28:49
it turns out the guy DMGs, it's my friend. I'm like, you you do this? And he's like, yeah.
28:54
I don't think what the hell's going on here. And so, you know, you never know what's going on in the building. Because your dad your dad's doing this. Side hustle. I,
29:03
I think this is a really, really good insight that you've had. And I completely agree. I think someone like a caught the car guy I think could
29:11
make tens of millions of dollars. Now let me give you now let me give you the so what what I do about this? Let me add it. Right? So, by the way, another good thing about this, you can have ghostwriters or contributors because you're just under this anonymous umbrella brand.
29:24
So it's that's another benefit here.
29:26
Okay. So what can you do with it? So first, I think
29:29
avoid the,
29:32
you know,
29:33
let me do shout outs let me do paid ads in a free newsletter.
29:37
Let me do a community.
29:39
Like, if somebody says the word community, you should stiff arm them in the in this if you're doing these. You got, like, you wanna do it where Just sell the thing, I would. You actually get towards the transaction.
29:50
Maybe a high ticket course can work, but, like, I I do think you wanna be more like the car dealership actually doing this, or you wanna be the strip mall guy and you wanna raise a giant fund off of this. Well, dude, have you asked why? Cause I'm the same way. I would I almost sold my car recently, and I had him give me a quote on it to tell me how much they're selling for. And then I go, oh, I and I made a hundred thousand dollar plus decision because of his advice. Have you asked yourself, why do we trust just these guys? Like, they don't even they use a cartoon. It's the same reason people trust us from this podcast or from Twitter, which is that I think when you get to see somebody
30:24
think out loud, which is what writing is, or or talking on a podcast,
30:29
and they're not talking to you, you're overhearing them. And they're not selling you anything They're just giving. Give, give, give, give, give, right? This is the Gary V playbook. Right? The jab jab jab hook is give, give, give, ask.
30:41
And so that's what they're doing. Right now, they're just in give mode. And I think that's the absolute right way to be. Give, give, give, give, give insights, insights, insights, and then there's a surprising
30:50
number of wealthy people who will say, hey, can you help me? I wanna do this. I wanna buy one of these or I wanna get your opinion on this. And they will come to you, hat in hand, like me and you did to these suckers, like suckers to these guys. Okay. So that's the first thing.
31:06
Secondly, I think that I would get away. I called it the guy mafia,
31:11
but I'm calling it right here. It's time to start the gal mafia.
31:15
We need
31:16
we need car dealership, lady.
31:19
We need
31:20
strip strip club queen. We need we need the female version. MLM queen. Yeah. Exactly. We need the, it's called, network
31:29
marketing or some shit like that, by the way. That's how that it's like, when you meet somebody's proud of being in an MLM, you're like, wait. You know you're in MLM. They're like, yeah. I'm a I'm a I'm great at network sales. So what the fuck is network sales?
31:43
If you can say the word, I have a down line. Like, if those words have come out of your mouth, like Yeah. Yeah. Yeah.
31:49
You're a fan. That's what the that's what the that's what the Twitter profile should be, like, does does the word downline make you weak at the knees? If yes, you're at the right place, my friend. Right. If I presented you the shapes circle square and triangle, and you you immediately gravitate towards triangle,
32:06
It's like those, like, psych tests, the borscht test, whatever.
32:10
Okay. So I think you should brand it as a woman whether you're a guy or a girl, to be honest with you. I think, you know, catfish away. Go. I think I think that's the first opportunity.
32:19
Second, you gotta go find all all the valuable niches. So luxury watch,
32:24
sneakers,
32:25
cars, gas stations, real estate. I mean, what else? This franchise is there's Dude, but are women using Twitter? I surveyed my audience and I go select if you're a male or a female, and it was it was ninety three percent male.
32:39
It was all dudes. It was probably all dudes looking for a father figure. Like, it was all young men. Our our
32:46
our like, have you me and Tahill did the meetup It was like,
32:50
literally a hundred to one, men to women. It was crazy. If you're a single woman, you gotta come to our meetups. You will love it.
32:57
Do you have any women followers, you think? Like, it it's or is all Twitter this way?
33:02
No. I think it's more us than it is all of it. I think Twitter probably excuse, but not to the ninety percent.
33:08
That's like that's kind of a crazy ratio there. But okay. By the way, so here's here's my crazier ideas. Okay. So first of all, I think Twitter is the wrong place to do this. I think it works on Twitter for sure. But I also think LinkedIn,
33:22
I think that there are other networks we probably be able to do well with this. I don't know if LinkedIn allows, like, anonymous accounts or like fake names. Maybe it doesn't. But the second thing is, honestly, I think there could be a whole social network That's basically just, yo, you join here, and there's just verified, like, people who are industry insiders that you get to read their content from and and and follow them. I think you could literally, like, it is not likely to work,
33:48
but it's more likely than a lot of stupid social app ideas. Because it has really clear value prop. So anyways, that's my, like, long shot idea around this.
33:57
Yeah. I think this is a really, really good insight that you've had. And I completely agree that there's a massive opportunity here. I tried to make the argument this summer that there's gonna be a billion dollar empire started on Twitter like there has been on YouTube and all these other things. And I think one of these people, it wouldn't it's not out of this world that one of these folks could be that person. Another thing that I've noticed on Twitter And, I didn't entirely plan this, but because you brought up, I'll bring it up. Have you noticed,
34:23
people doing affiliates
34:25
for agencies.
34:26
So, basically,
34:29
who
34:30
a question that you and I probably get asked a lot is, like, who's a good accountant accounting firm,
34:36
or who's a good growth marketer for newsletters
34:40
or,
34:41
you know, there's, like, eight questions that you and I get asked all the time. And I did this with my body tutor. So my body tutor they were like, hey. Do you just wanna, like, earn money every person you send to us? Because you're already sending tons of people. I go, hell yeah. Give me a link. I remember talking about a bunch of, like, a bunch of shout outs. I was like, are you getting a kickback here? What's going on? I feel like you've tweeted some of these. I haven't. I just started doing it for my body tutor because they're like, dude, you sent us so much, like, we'll just give you some money if you want. But, no, I've, and I've not.
35:07
Who have I tweeted out lately? I just I just call out bullshit. And it was them, and it was one other one that I saw that I was like,
35:14
Jason Yonderwitz? It was it was your Oh, Diego, my video guy?
35:18
No. No. I no. I just, like, I'm just like, fuck it, dude. You done. I well, what I told him I go, hey, if you're good, do it for free. Right? I go do it for free for me. And if you're good, I'll tell people about you. And so I made them do it for free for me for six months. And so and so I was just like, I'll just share you with you. But then you and I have friends, and I've seen people do this. And I think they're making hundreds of thousands of dollars a year by referring
35:40
people to certain agencies. And the right way to do this is to find a product or a service that you're already a fan of and ask for an affiliate or go and start the thing with someone and just be an affiliate
35:50
And,
35:51
I think that there's, like, this world. We had Neil Patel on the pod, and he basically founded an agency
35:57
and the reason why he was considered the founder was he did start it, but he wasn't running it, but a lot of the early leads and probably a lot of the leads to this day came from neil patel dot com because people were using his website to search like SEO stuff. And we haven't seen people do that on Twitter, but it actually is really good because Twitter unlike the other social media platforms is ideal for link clicks, and that makes it really easy to attribute growth.
36:20
And I think that there's a lot of people making a significant amount of money referring people to these high ticket products, and I think we can continue to see that. It might be a lot pretty quite quite big. I've thought about doing this. So one thing I've been thinking about doing is post milk route. Okay. We sold the milk route. Got some time.
36:37
What do I wanna do next? I kinda wanna focus on the pod, make the pod bigger,
36:42
better, all the all that good stuff. One of the ways I think, but the pod, you know, the pod itself is free. If you're listening to this right now, you've paid me, you know, zero point zero dollars. So how does this ever, you know, become something that that you could justify saying, I'm not gonna go build another business. I'm gonna do this instead. And one way is that can the pod basically provide some kind of win win value for people. And so this one thing I was thinking about was, like, I kinda wanna buy
37:07
a bunch of businesses that, like, of people that I've worked with, like, either, you know, like, go to my accountant or go to my lawyer or go to my estate planner and basically buy
37:16
the majority stake in their firm.
37:19
And in exchange, be like, cool. There are a lot of other founders like me who also want
37:24
State planning, who also want legal help, who also want trademark help, who also want accounting, and basically just build a MFM style like back office,
37:34
set of businesses. And instead of an affiliate, like, actually own them, make sure that they're they're great, like trust in them.
37:41
And,
37:42
and then drive a bunch of value to the to those businesses. And then in return, there's a bunch of people founders like me who are constantly asking for recommendations about, like, you know, I'm trying to find a good blank. And I've burned through
37:54
seven accountants before I found one I like. Same thing on the estate planning side. Same thing on and so it's like, though, not everybody should have to redo that work. And so that's one thought I've had as to, like, a cool business to build that just kinda helps kind of founder entrepreneur
38:09
you know, types.
38:13
And yeah, just like own those own a own a collection of those businesses that and then, you know, have audience, you know, people in this audience who want that want those same services, be able to just go find who we use.
38:25
Yeah. And the the cons are, like,
38:28
Can you possibly vet
38:30
the right people and have, like, actually quality? But the pros are like, this is pretty much what ran Richard Branson did with Virgin. And so it's definitely possible.
38:39
I often wonder why, like, more celebrities, like, the Kardashians and stuff. Like, why don't they own an equity stake in more things than they do? It doesn't seem like they do for a lot. They have done for one or two things that ended up being quite big. And so I wonder, like, what's the strategy? Like, where where's Where does because every celebrity has thought about this too. And so I think, like, well, where's the down where's the
39:00
where's the mistakes that? Like, you know, how much how many if you're gonna take equity stakes, you know, how much how many things could you promote and how many things can you, you know, you're better off basically in the in those cases, Zachary, you're better off finding
39:12
the one or two product categories
39:15
that you can own a large
39:17
chunk of and go big. Right? This is, like, skims for for Kim Kardashian. This is Kylie's lip stuff. This is Connor McGregor's whiskey, Irish whiskey. It's like You know, he took the Irish whiskey thing. It was like, oh, I'm just gonna put this on blast. I'm gonna own a chunk of this. I'm gonna put this on blast. I think they sold it for five hundred six hundred million.
39:36
Within three years, something like that. So, you know, that was like worth a lot more than like affiliate linking out to twenty services or trying to own tiny chunks of twenty businesses and then have to use your clout to promote twenty different businesses. That's kind of exhausting.
39:50
So I think that's why.
39:53
Yeah. I,
39:54
well, let me bring so or do you wanna go to is your pain for payment
39:58
really good?
40:00
Both of my things here, I think are pretty good, but save them because it came to the end. Go. Go. Go. Go. Go. Which one do you want? Pain footainment?
40:06
Yes. Or the katana store. The katana store is a horrible name. So what is that actually?
40:11
I've seen this. Is this the guy who keeps tweeting about his YouTube page? Yes.
40:16
Yes. I thought that was beautiful.
40:18
And I kept I'm like, wait. Katana, is this a joke? Like, you literally just sell swords?
40:24
Yeah. Exactly.
40:25
Okay. So I see this guy. I've been I've been seeing this guy for a while now. And so he sells, I think his website's called mini katana dot com. So it's mini katana's.
40:34
But what does that feel like a tech deck? Like a like a like a tech deck, but a sword?
40:38
Was a tactic. I don't know what that is. You remember the midi figures skateboards?
40:41
Oh, no. No. It's not that. It's, like, you know, like,
40:44
two feet in length.
40:45
Instead of, like, a full samurai source, like, you know, five feet or whatever.
40:50
This is this is, you know, like half the size of a normal thing. Maybe two feet instead of four feet. I didn't know the I didn't know the standard size of a katana if I'm Yeah. I realized I said that. And, like, you know, the katana guy is gonna come after me here, and it's not that you want on your bad Alright. So if you go to this website,
41:06
you'll see that it does about one to two million monthly visits, which is a lot. That is a lot of traffic for an ecomm store.
41:14
I I he tweets about their revenue sometimes.
41:17
Wow. The the website is actually awesome. It's like the Supreme
41:20
of, like, swords.
41:22
Yeah. Actually, that's a good that's a good thing. So I think this business does. It does he said eight figures. It does at least ten million a year in revenue. I think it's closer to twenty.
41:32
So I think it's probably closer to twenty based on the traffic. And one of the main ways that they do it is through YouTube. Okay. So really, there's two kind of like
41:40
hardcore takeaways that I have out of this. So this I'm calling my,
41:45
I'm calling this my new theory my updated theory on what it takes to have.
41:48
A great e com brand.
41:51
By the way, these are dope. I'm I'm finna buy me a fucking sword. These are Yeah. You went from making fun of this to add to cart in, like, six seconds. Okay. Yeah. I'm gonna buy me a gold sword.
42:01
Who does that? I call this the stranger things law. Which is basically if you wanna make it an ecomm, one of the things you gotta do is find people who are strangely and unapologetically
42:10
obsessed
42:11
with a certain lifestyle.
42:13
And then you just need to sell them things.
42:15
So, so you, you know, that's that's the whole model. Right? So here's an example, Katana store. Right? So it's like, You have this people. Yeah. People who are just obsessed with Japanese culture for some reason. And they're always fedora. Like, for He's a leopardorn.
42:29
Guy who loves Japanese culture. Right? Like, It is is you're finding white people who are super into Japanese culture, not Japanese people. And, and so you're like,
42:39
And and there's people who are really into something that's kind of irrational. And I remember me one time. I met this guy who was the first product guy, first product manager at Twitter. He joined when Twitter was maybe, like, ten, fifteen people,
42:51
total. And I was, like, I remember talking to him and I was, like, so was it obvious at time, Twitter was gonna be huge. He goes, no. No. No. Like, Twitter was it was, like, basically nothing at the time. It was very small. It was just kind of this thing that tech people were doing, but even the tech people who were using it, kind of felt like well, this is stupid. Right? Like, we're all just text messaging, what we're, like, what we're having for lunch right now. Like, that doesn't seem like the next big thing.
43:15
And he goes, but luckily I had learned a very valuable lesson, which is anytime you observe a weird behavior,
43:21
people doing a phenomenon where people are en masse just doing this thing that makes no sense.
43:28
I first your first reaction is say that's weird and you kinda judge it. He goes, but I've learned you gotta lean into that phenomenon. If people are doing it playing video games. There's a reason. Exactly. This reminded me of my experience when I was in college. I remember freshman year of college. I walk into my buddy, tofik's dorm room. And I was
43:46
like,
43:47
I see him playing video games. And he's got his back to me. He's playing, I don't know, Starcraft at the time, I think.
43:52
And then I'm like, yo, it's off. And then he turns around And I'm like, oh, sorry. I didn't, like, I didn't realize you're in a game. And it because he took off his headphones, he turned around. And I noticed that the game is, like, still going. And then he's not he's not touching the mouse anymore. And I was like, what are you, wait, what are you doing? What are you just, like, in, like, a demo mode? What is this? He goes, oh, no. I'm not playing. I'm watching.
44:11
I know you're watching this two thousand ten. I'm like, two thousand,
44:15
no. Two thousand seven or something like that. Two thousand eight. And,
44:19
I'm like, you're watching
44:21
somebody play video games? And he goes, yeah. I have I always do this. I am like, you woke up. I was like, it's eight thirty in the morning. You woke up at eight thirty in the morning and started watching somebody play starcraft. Why don't you play. He's, like, no, this is, like, one of the best players. I just wanna watch him.
44:35
And I was, like,
44:38
I was like, I was like, hold on. Let me go get four friends so we can make fun of you together because it's not gonna be fun alone.
44:45
When I got grabbed by roommate, I was like, come see what topik's doing. This guy's literally what I was like, do you know is this your friend? He's like Well, did you start, like, making fun of him? But you actually, like, sit next to it, you're like, Well, hold on. Hold on. Let me, like My wife said that with the dragon. You know, like Yeah. Well,
44:59
yeah. Wait. Well, why did you go left? You should've got you should've got left. He went right. He's like, guys, the best player on the Korean server. So they they played this match last night, Korean time, whatever. I'm watching it now. And I was like, you
45:10
are the weirdest
45:11
nerd. And, but he this guy is the weirdest guy. You know, he he does, like, many, many weird things. This was one of them. And I remember just laughing out and making fun of him. Fast forward ten years.
45:22
I go and I've I'm, like, announcing in our, our LinkedIn or whatever. Like, hey, we sold our company Bebo to Twitch. Super excited. Join the exec team at Twitch. He call I get this call from Tophique. Tophique calls me, you know, twice a year. I get this call from Tophique. I pick up. I'm expecting, congratulations. He just goes. You little bitch.
45:43
And I'm like, what? And he's like, you used to make fun of me for this shit. And now you're mister Twitch, And I was like, oh, yeah. That's right. I forgot about that. Dude, you were way ahead of the curve. I should've listened to you. Like, I could've created Twitch if I had, like,
45:57
If I had leaned into this insight that people wanna watch other people in video games. Yeah. I love a guy who holds a garage for ten years, by the way. Dude, he was he was ready. I like the cut of your gym guy.
46:06
I'm about it.
46:08
And so anyways, that that's kind of the the the this
46:12
learning of if you see people doing this strange behavior, right? Like, I remember seeing people wear those vibron five toe shoes where you're like,
46:19
you're gonna run barefoot. Why do you do that? Like, yo, and they're like super into that lifestyle.
46:25
I saw a video of Joe rogan talking about people who hunt
46:30
white bucks or some shit like that. Like, you know, some certain type of dear, I guess. It goes, dude, people don't realize how crazy this lifestyle is. And he started explaining that people will build
46:43
fields
46:44
of, like, food and, like, lounge areas to try to attract these bucks in to hunt. They, like, spend months building these, like, you know,
46:53
mancaves
46:54
for bucks just to attract them, and then they hunt them. Right? And I was like, that's crazy. That I bet that people who I'm getting people getting cold ice baths every morning.
47:03
Ice ice baths every morning just like you. People who, I met a guy yesterday, makes five million dollars
47:10
doing a woodworking
47:11
course.
47:12
Woodwork. Railway.
47:14
And it's like, why? Because people who are into woodworking are not just kind of into woodworking.
47:18
You can hold me to die. Really into woodworking.
47:22
And,
47:23
so this is crazy. If you see this strange obsession, that is the basis for a store.
47:31
Our software is the worst. Have you heard of HubSpot?
47:34
See, most CRMs are a cobbled together mess, but HubSpot is easy to adopt and actually looks gorgeous. I think I love our new CRM. Our software is the best. HubSpot.
47:44
Girlbetter.
47:46
So that's the first thing. Second thing, these guys are crushing it with YouTube or organic content. They built their YouTube channel up to two million subscribers.
47:55
And I think this is one of those, like, really cool growth hacks. I think it's worth going and looking at where they just do these unboxings.
48:01
They got, like, You know, like cute girls who are into katanas,
48:05
like, nerding out about katanas as they unbox them. It's like, yeah. I can see a bunch of dudes getting really into channel that makes sense to me. Like, I think that's gonna be, like I think there's a lot of people who are gonna like this brand and like this content there. I think they're just doing a really good job. I think it's good really good execute, like, ten out of ten execution at, like, a five out of ten opportunity.
48:25
But, like, you know, still nonetheless. A lot lot you can kinda learn from this. Dude, I'm looking at their YouTube. I don't understand a lot of these references because it's, like, anime based but they don't do that many videos. It looks like they do one or two a month,
48:38
and
48:39
they all kinda hit. This is crazy.
48:41
A lot of TikToks maybe. So I think they do they do TikToks. They basically just move their Facebook ad budget into hiring a full time female creator to do this content and that sort of thing. And so,
48:51
yeah, I think they're it's a it's a really cool, really cool brand. So I just wanted to share it. If the guy has shot out because I figured his name, but on Twitter, he's, like, showing all of the back end. Like, he's taking screenshots of their YouTube,
49:02
and he's a really, really good follow. He's really been fascinating. Name. I forget his name too.
49:08
I'll find a second, but He said something like,
49:11
he said something like they, they got something, like, two or three hundred million
49:17
views
49:17
in the last year, and they only started this past year.
49:21
And he's, like, we're getting eight million a month Isaac. What's his His name is Isaac. He's the Isaac
49:27
med, m e d.
49:29
And his bio says scaling a sword brand to nine figures organic video marketing.
49:34
Well, if that ain't exactly what we just described,
49:37
like, perfect description.
49:39
Yeah. He does a really good job. He's really cool. Also, I like his profile picture a lot. Kinda looks like a madman. He did, like, a good clear headshot,
49:46
but he kinda looks like a madman instead of, like, a try hard. And I just appreciate anybody that's not a try hard. By the way, Pet peeve.
49:53
I feel like all of Twitter is so cringe and try hard,
49:57
and I don't know if anything changed or I changed.
50:00
But do you feel this way? Like,
50:03
I feel like ninety percent of tweets and including my own tweets. I'm like, is there a tweet that's not cringey?
50:09
I think that we were the tryhards, and now we're over it and we're making fun of people that are doing the exact same thing that we did.
50:18
Yeah. I love that. You you use the ladder, climb up, and then you pull the ladder up behind you. Yeah. Yeah. Yeah. I think that's we're doing. You know? When I did it, it was cool, but when you do it, that small boy stuff.
50:29
Yeah. I think I think we're just, being haters, which is cool.
50:33
Which is fine. It's it's a that's a natural thing. Let me explain. I'll I'll wrap up with one quick thing.
50:39
I posted a a researcher job. So, basically, I don't really have a researcher.
50:43
You do. And I'm envious of that. I want that. I need a little help because you're you're you always come I need a little help coming up with good content for the pod. And by the way, if you wanna see the job, just go to my Twitter and like scroll down, you'll see like a Google form. But so I I tweeted this out.
50:57
I got like three hundred applicants.
50:59
And in order to apply,
51:02
I was very specific. I was like, if you screw up one thing on these directions,
51:06
like, I'm not even gonna consider hiring you. I was like, you have to, like, put a link in here. Job application.
51:13
Well, yeah, because I was like, dude, if you're not gonna sweat the details on this, then you're not gonna that's what I said. If you if you don't do a good job on this, I I I don't believe you'll do a good job on anything else.
51:22
And I made people. I was like, it's like, really simple. Come up with three ideas and make it in a Google doc and put the Google doc link in this form, make it so it's readable. So I just click it. If it's not readable, I'm not even gonna ask to, like, I won't even look at it. And,
51:37
I got hundreds of applicants,
51:38
about half of them follow directions,
51:41
and about
51:42
a good chunk, twenty five percent, we're actually pretty legitimate. What do I do with, like, these hundred, like,
51:49
decent
51:50
people. You know, it's kind of like an interesting this is like an interesting business problem or an interesting problem. If you have people so we did this with apartment So our my first business that was an online company was basically look, in San Francisco, an open bedroom for a twelve hundred dollar a month apartment,
52:06
an open bedroom in a three bedroom house, that gets like five hundred applicants, and all five hundred are interested in living in the same neighborhood they're all interested in this ad, so they clearly have similar interests, which is just group them into their own thing and move them into their own part apartment. Now it's the premise of my first company. With this, I'm like, man, I got like three hundred people, one hundred are are somewhat qualified. What do you do with this group of people? If I can it's kind of seems like such a waste that I'm just using one of them. You know what I mean? Yeah. Unfortunately, not a lot of people need a researcher like this, so I think you just need to translate it to, like,
52:38
something Like, most people don't have a podcast that requires researching random business stuff. So what could these people do that's what's a job that's more common that these people would be really good for? Is it, like, chief of staff type roles? Is it, like, something like that, you think?
52:53
I don't know. I I have to I've I just started thinking about this ahead of time, like, right before December recording. But I did think this is, like, the, the the application process is and this is just a little small thing. Imagine if you're, Burger King or something or some huge company and you get, like, you know, a million applicants a year.
53:11
It's, like, kind of interesting where if you
53:15
you can only hire a couple of them. And so you're, like, are wasting ninety eight sent,
53:19
you know, in the same way that Ford decided to make charcoal out of their burnt wood that they were using to heat their furnaces when they were making iron, Can I what can my chart will be of these two hundred ninety nine applicants that I don't actually hire?
53:32
Yeah. That's a great question.
53:34
I don't have an answer. I don't have an answer. Sorry. Yeah. Sorry. People. Like, this is the letdown, but Yeah. Interesting. The question. The thing to do would be, like, what
53:43
What common job do these skills translate to? And then you have now a cohort or a pool of people that are, you know, somewhat vetted.
53:50
That you could create, like, a job board or some sort of, like, matching marketplace or service where people could just hire,
53:56
you know,
53:58
people like this for for that common job, but, I'm not sure. Well, I wonder, like, like, the people who have enough probably don't care, but but, like, the people who, like, the the engineering companies or some someone who's getting, like, a startup that's getting an engineering company,
54:12
getting engineers to apply. What they should do is just, like, be like, hey, I'm sorry. You didn't get the job, but here's, like, five other gigs that are kind of cool and just take, like, the thirty thousand
54:21
dollar referral fee Do you know what I mean? So our buddy, Brian Hoover kinda did this. He he was hiring an a a researcher or, like, a analyst for his fund.
54:30
And he's like, dude, I got, like, hundreds of applicants. I've interviewed them. And he's like, these I forgot how many. Let's call it thirty just for an example. He's like, these thirty were really good. I just I can't hire thirty. I only needed one. And so he emailed me and a bunch of other people who had funds. He's like, do you need an analyst? Like, here's our kind of vetted analysts that we thought were good.
54:49
If you need one, like, I'd love to help these people get a job. Like, he wasn't asking for any money because Ryan's a nice guy and, you know, not how he's looking to make money, but, like, it was kinda great. At the same time, I was sort of, like,
54:59
I'm not looking for the sloppy seconds. Like,
55:01
these these people weren't good enough for you. Why why are they good enough for me? There's a part of me that's like that too. So I think you have that challenge. If I'm a tech company, I'm looking for engineers -- That's fair. -- and I hire these people. And you didn't hire me, but You know, Facebook didn't hire you, but Google should. And I think Google's got a little problem with that. So you got to find somewhere around that. That's fair. Signal problem.
55:18
Same thing with investments. If I send an investment to you. I'm like, hey, great deal. Not doing it though.
55:24
You should. Yeah. You should invest in this. It's like that those are the worst in those are the worst emails because it just Sometimes it's true. It's like, oh, this is just your me, sure it's your stage or whatever.
55:34
But a lot of times, it just adds like a negative flag to it for no reason.
55:39
Well, and the answer to this might be there's nothing I could do. Fuck him. Sorry, guys. Like, you gave me you you did all this work for me and you just you're not gonna get the job. And there's some guys who have applied for, like, eight jobs that I've had throughout the years, and I feel so sad. I'm like,
55:53
sorry.
55:55
You missed again. We're not hiring that many people. Right? So just a hard hard thing to do.
56:01
Alright. Let's wrap it up there.
56:03
Good episode.
56:04
And and, you ever see you guys update.
00:00 56:23