00:00
Really heard this a bunch of times, which is a lot of times as an entrepreneur, you just need to be in the market. You need to be in the game. And even if your current thing's not working, If you are aware of these, like, inflection points, you're the perfect person to just shift over.
00:00
Really heard this a bunch of times, which is a lot of times as an entrepreneur, you just need to be in the market. You need to be in the game. And even if your current thing's not working, If you are aware of these, like, inflection points, you're the perfect person to just shift over.
00:16
I feel like I could root a word or know I could be what I want to.
00:16
I feel like I could root a word or know I could be what I want to.
00:21
I put my all in it like a day's off on a road. Let's travel never looking Alright.
00:21
I put my all in it like a day's off on a road. Let's travel never looking Alright.
00:26
We had a good episode. Well, I think we talked about a lot of stuff. What are we talking about? We talked about the Zapier for Sound. We talked about Yeah. We talked about the opportunity. Now that college athletes make money? What are the business opportunities around that that just opened up? And I think if you're interested in software, I think Sean, you actually gave, like, one of the one of the better ideas in the last three months that we discussed. So that's kind of interesting. We talked about, a new company that's creating a search engine for company documents It sounds boring, but it's actually could be quite a big business. What else did we talk about? The last thing is we talked about this business model idea of basically
00:26
We had a good episode. Well, I think we talked about a lot of stuff. What are we talking about? We talked about the Zapier for Sound. We talked about Yeah. We talked about the opportunity. Now that college athletes make money? What are the business opportunities around that that just opened up? And I think if you're interested in software, I think Sean, you actually gave, like, one of the one of the better ideas in the last three months that we discussed. So that's kind of interesting. We talked about, a new company that's creating a search engine for company documents It sounds boring, but it's actually could be quite a big business. What else did we talk about? The last thing is we talked about this business model idea of basically
00:57
go take the r and d that the big companies do and that they make custom software for themselves, like the Starbucks mobile app or the Domino's pizza ordering app and then make that available to all the mom and pop. So we did a bunch of examples of of that and where the opportunities might be. Alright. Listen up. Let us know how, and how you liked it. My Twitter is thus Sampar and then Sean's is
00:57
go take the r and d that the big companies do and that they make custom software for themselves, like the Starbucks mobile app or the Domino's pizza ordering app and then make that available to all the mom and pop. So we did a bunch of examples of of that and where the opportunities might be. Alright. Listen up. Let us know how, and how you liked it. My Twitter is thus Sampar and then Sean's is
01:17
Sean VP.
01:17
Sean VP.
01:19
Alright.
01:19
Alright.
01:19
What's going on? Yo.
01:19
What's going on? Yo.
01:22
I'm in New York. I,
01:22
I'm in New York. I,
01:25
I had a hell of a week, but I'm here.
01:25
I had a hell of a week, but I'm here.
01:27
Tell the story.
01:27
Tell the story.
01:30
I leave.
01:30
I leave.
01:31
So I'm driving.
01:31
So I'm driving.
01:33
So I got this, like, nice car, and I love driving it. I am I'm living in New York for a few months. I wanted to do that long drive because it it's fun for me in my car. I'm all ready. I got my dog, everything.
01:33
So I got this, like, nice car, and I love driving it. I am I'm living in New York for a few months. I wanted to do that long drive because it it's fun for me in my car. I'm all ready. I got my dog, everything.
01:43
I get fifteen hours into the drive. I get out of my hotel room and I have two spare keys on the same ring because you can't leave one of these fancy keys in the car. Otherwise, the car won't shut. Right.
01:43
I get fifteen hours into the drive. I get out of my hotel room and I have two spare keys on the same ring because you can't leave one of these fancy keys in the car. Otherwise, the car won't shut. Right.
01:55
So when I go to the hotel, I put them on this on on one ring. And then when I get in the car, I separate them. I'm on the phone. My mom, first thing in the morning, just saying what's up. Put my keys both of them on the roof for a second,
01:55
So when I go to the hotel, I put them on this on on one ring. And then when I get in the car, I separate them. I'm on the phone. My mom, first thing in the morning, just saying what's up. Put my keys both of them on the roof for a second,
02:07
get in the car, start the car, drive off.
02:07
get in the car, start the car, drive off.
02:11
Sixty minutes later, I stop for gas, and I go, shoot. The car is telling me that I can't start it because the keys aren't here. What the heck?
02:11
Sixty minutes later, I stop for gas and I go, shoot. The car is telling me that I can't start it because the keys aren't here. What the heck? Right. Where are the keys? Turns out, I left him on the roof,
02:19
Where are the keys? Turns out, I left him on the roof,
02:23
sixty miles back, drove off, and I go back to find him over many hours of searching for them. Someone ran over both the key fobs. So you actually found the destroyed team. I found the destroyed parts and I had a locked bike
02:23
sixty miles back, drove off, and I go back to find him over many hours of searching for them. Someone ran over both the key fobs. So you actually found the destroyed team. I found the destroyed parts, and I had a locked bike
02:37
my, like, nice bike was locked to the roof along with my thule, like, rack was locked in there. I find those keys, thankfully. Otherwise, I was gonna have to call the welder to, like, weld my bike off and, like, pop this lock open.
02:37
my, like, nice bike was locked to the roof along with my thule, like, rack was locked in there. I find those keys, thankfully. Otherwise, I was gonna have to call the welder to, like, weld my bike off and, like, pop this lock open.
02:49
And I find those keys, but my fobs, my eight hundred I think they're eight hundred or a thousand. They're expensive.
02:49
And I find those keys, but my fobs, my eight hundred I think they're eight hundred or a thousand. They're expensive.
02:54
Completely smashed to bits. I call Mercedes. They tow my car. This is on a Thursday. They go, we are not gonna get a new key in until Thursday.
02:54
Completely smashed to bits. I call Mercedes. They tow my car. This is on a Thursday. They go, we are not gonna get a new key in until Thursday.
03:03
So
03:03
So
03:04
I was like, fuck. You got you you're supposed to be in New York. You're stuck in Tennessee.
03:04
I was like, fuck. You got you you're supposed to be in New York. You're stuck in Tennessee.
03:08
I'm stuck in Texas to New York. You get stuck in Tennessee, your car keys get smashed. Your car's just sitting at a gas station,
03:08
I'm stuck in Texas to New York. You get stuck in Tennessee, your car keys get smashed. Your car's just sitting at a gas station,
03:15
and you can't get a new car key for a week. And I'm with my dog too who's like an eighty pound pitbull. And I'm like, dude, what do I do? And he's like, well, we could just store here. So I'm like, alright. Well, I'm not gonna stay in Tennessee for, like, eight days.
03:15
and you can't get a new car key for a week. And I'm with my dog too who's like an eighty pound pitbull. And I'm like, dude, what do I do? And he's like, well, we could just store here. So I'm like, alright. Well, I'm not gonna stay in Tennessee for, like, eight days
03:27
I tried to get a private flight. I tried to fly because you can't fly with a dog. Eventually, I, like, waited in line for hours to get a from my point of view, I get a text message in our group chat that's like, how much does a private jet cost?
03:27
I tried to get a private flight. I tried to fly because you can't fly with a dog. Eventually, I, like, waited in line for hours to get a from my point of view, I get a text message in our group chat that's like, how much does a private jet cost?
03:41
Is it what?
03:41
Is it what?
03:43
Yeah. And and I need to get to New York. I'm stuck here. I can't get on a normal flight because my I have a eighty pound pitbull with me.
03:43
Yeah. And and I need to get to New York. I'm stuck here. I can't get on a normal flight because my I have a eighty pound pitbull with me.
03:51
I don't wanna leave my car, but I guess I have to And how am I gonna come back and get my car
03:51
I don't wanna leave my car, but I guess I have to And how am I gonna come back and get my car
03:56
very confusing situation?
03:56
very confusing situation?
03:58
It was a very confusing situation. Now let me tell you a few things that I learned.
03:58
It was a very confusing situation. Now let me tell you a few things that I learned.
04:02
And this is related to this podcast.
04:02
And this is related to this podcast.
04:04
So I've flown private once or twice. I've never paid for it. It was just like a rich guy who I went along.
04:04
So I've flown private once or twice. I've never paid for it. It was just like a rich guy who I went along.
04:10
So
04:10
So,
04:11
yes. What I what I learned
04:11
yes. What I what I learned
04:13
was
04:13
was
04:15
so we have a friend in this group we don't have to say his name. I don't know. We could or could not. But anyway, he went to Europe,
04:15
so we have a friend in this group we don't have to say his name. I don't know. We could or could not. But anyway, he went to Europe,
04:21
and he sent he goes, I got a hotel that was three thousand dollars a night. Three hundred and fifty dollars. And I was like, what, how? And he he sent me he sent us a screenshot of the email. And he emailed the general manager of Hotel. And he goes, hey, I'm I work at this company. I'm gonna be there. I don't I mean, he said he worked at this company because it's a huge company just for clout, but it doesn't really mean anything. I'm gonna be there with my fiancee, my budget's four hundred dollars a knife. If you have anything available, I would love it to stay in this room or this room. Right. And he searches for all the five star hotels in that area, and he just sends the same thing to all the general managers.
04:21
and he sent he goes, I got a hotel that was three thousand dollars a night three hundred and fifty dollars. And I was like, what, how? And he he sent me he sent us a screenshot of the email. And he emailed the general manager of Hotel. And he goes, hey, I'm I work at this company. I'm gonna be there. I don't I mean, he said he worked at this company because it's a huge company just for clout, but it doesn't really mean anything. I'm gonna be there with my fiancee, my budget's four hundred dollars a knife. If you have anything available, I would love it to stay in this room or this room. Right. And he searches for all the five star hotels in that area, and he just sends the same thing to all the general managers.
04:53
Yes. And then
04:53
Yes. And then
04:55
every once in a while, they give him a hotel. So he's staying in a three thousand dollar night hotel for three hundred and fifty dollars.
04:55
every once in a while, they give him a hotel. So he's staying in a three thousand dollar night hotel for three hundred and fifty dollars. And that got me thinking.
05:00
And that got me thinking.
05:02
So I googled Nashville private airport,
05:02
So I googled Nashville private airport,
05:05
and I was like, look, I want a private flight either, like, right now or first thing in the morning.
05:05
and I was like, look, I want a private flight either, like, right now or first thing in the morning.
05:11
My budget is I'm willing to spend seven thousand dollars.
05:11
My budget is I'm willing to spend seven thousand dollars.
05:15
Do you have any airlines, or do you have any,
05:15
Do you have any airlines, or do you have any,
05:19
pilots that want some, like, quick work?
05:19
pilots that want some, like, quick work?
05:22
And they were like, well, I usually cost fifteen thousand dollars. I was like, well, look.
05:22
And they were like, well, I it really cost fifteen thousand dollars. I was like, well, look.
05:26
If you tell me what if you have someone who has work, you tell me what's the, like because, like, you think, like, private airlines, like, there's no room to haggle, but it's, like, they're they're just, like, small businesses.
05:26
If you tell me what if you have someone who has work, you tell me what's the, like because, like, you think, like, private airlines, like, there's no room to haggle, but it's, like, they're they're just, like, small businesses.
05:35
And so they get me a quote and that it ended up falling through, but I realized that you could they're like, you know, like, they actually got another bid, whatever. So it didn't out, but I realized you could totally paggle with these people. It's it was so fascinating. Yeah. The hotel thing is great because I feel like anybody can do that. And,
05:35
And so they get me a quote and that it ended up falling through, but I realized that you could they're like, you know, like, they actually got another bid, whatever. So it didn't out, but I realized you could totally paggle with these people. It's it was so fascinating. Yeah. The hotel thing is great because I feel like anybody can do that. And,
05:51
And, you know, if you have a little social media following or whatever, I know Instagram influencers do this. I've never even thought about doing it. I probably still won't do it because it sounds like it's kinda time consuming.
05:51
And, you know, if you have a little social media following or whatever, I know Instagram influencers do this. I've never even thought about doing it. I probably still won't do it because it sounds like it's kinda time consuming.
06:01
But,
06:01
But,
06:02
I thought that was pretty great. That little tech that he uses.
06:02
I thought that was pretty great. That little tech that he uses.
06:05
I thought, you know, these situation when you got in a pickle, you had to get creative and,
06:05
I thought, you know, these situation when you got in a pickle, you had to get creative and,
06:10
you probably, like, learned a bunch of stuff that you didn't know, you know, twenty four hours before that and never really would have paid attention to. Had you not done that? Like, keep bobs. You know, what to do when you're stranded? Private jets. Can you commission a private jet? Can you hop on to somebody else's thing? Like, what are the other options? You know, somebody's like somebody from this podcast or the listener was like, I'll drive your, like, hey, when you get your key fob, I'll drive it to you in New York. If you, like, hang out with me for thirty minutes or something like that. Yeah. I I saw I I don't know what I'm gonna do. My it's not gonna be the situation not even resolved till tomorrow, so I gotta figure out what I gotta do coincidentally. I have to be in Nashville for work. August first ish. There's like a podcast conference that HubSpot wants me to go to. Right. So I might fight on their job. Anyway, crazy, week
06:10
you probably, like, learned a bunch of stuff that you didn't know, you know, twenty four hours before that and never really would have paid attention to. Had you not done that? Like, keep bobs. You know, what to do when you're stranded? Private jets. Can you commission a private jet? Can you hop on to somebody else's thing? Like, what are the other options? You know, somebody's like somebody from this podcast or the listener was like, I'll drive your, like, hey, when you get your key fob, I'll drive it to you in New York. If you, like, hang out with me for thirty minutes or something like that. Yeah. I I saw I I don't know what I'm gonna do. My it's not gonna be the situation not even resolved till tomorrow, so I gotta figure out what I gotta do coincidentally. I have to be in Nashville for work. August first ish. There's like a podcast conference that HubSpot wants me to go to. Right. So I might fight on their job. Anyway, crazy, week
06:52
But can I tell you a few things, I noticed when I so I've driven a and then we'll get some we'll get to ideas? But I I've drive cross country a lot. I've done it a bunch of times. I've loved doing long road trips in America. And it's always fun to get out of our little Silicon Valley or New York or whatever, like, fancy tech guy bubble.
06:52
But can I tell you a few things, I noticed when I so I've driven a and then we'll get some we'll get to ideas? But I I've drive cross country a lot. I've done it a bunch of times. I've loved doing long road trips in America. And it's always fun to get out of our little Silicon Valley or New York or whatever, like, fancy tech guy bubble.
07:10
And a few things that, like, I noticed. The first, dude, the average American eats so poorly. And it's And what makes you say that?
07:10
And a few things that, like, I noticed. The first, dude, the average American eats so poorly. And it's And what makes you say that?
07:19
Well, granted I am, like, on the road, but, like, I I try to, like, actually go to these small towns.
07:19
Well, granted I am, like, on the road, but, like, I I try to, like, actually go to these small towns.
07:25
But, man, like,
07:25
But, man, like,
07:27
just seeing what I'll I'll just, like, go to a gas station or I'll go to McDonald's
07:27
just seeing what I'll I'll just, like, go to a gas station or I'll go to McDonald's
07:31
or I'll go to, like,
07:31
or I'll go to, like,
07:33
a restaurant and I, you know, because I eat in the parking lot with my dog. And I'll just, like, sit at what and and just look at what people order and, like, the lines are packed for rallies or Sonic. Man,
07:33
a restaurant and I, you know, because I eat in the parking lot with my dog. And I'll just, like, sit at what and and just look at what people order and, like, the lines are packed for rallies or Sonic. Man,
07:44
people this whole healthy eating thing that I think is popular amongst, like, affluent people,
07:44
people this whole healthy eating thing that I think is popular amongst, like, affluent people,
07:49
I don't think it's popular amongst all types of people, and that is crazy to me because they're just killing themselves. Didn't see a lot of keto and intermittent fasting on the shred trip. I'm I'm is what what I'm hearing. No, man. Just processed foods. And I'm not, like, the healthiest. I mean, I blurge. I like diet coke, and I'll eat McDonald's.
07:49
I don't think it's popular amongst all types of people, and that is crazy to me because they're just killing themselves. Didn't see a lot of keto and intermittent fasting on the shred trip. I'm I'm is what what I'm hearing. No, man. Just processed foods. And I'm not, like, the healthiest. I mean, I blurge. I like diet coke, and I'll eat McDonald's.
08:05
But, oh my gosh. When you're when you're driving, you're gonna see it's like pit stops. It's like, here, you stop here for gasoline, you stop here for sugar, you stop here for caffeine. And then you just repeat that loop,
08:05
But, oh my gosh. When you're when you're driving, you're gonna see it's like pit stops. It's like, here, you stop here for gasoline, you stop here for sugar, you stop here for caffeine. And then you just repeat that loop,
08:14
gasoline sugar caffeine, gasoline sugar caffeine. Right? I'm just shocked at the I'm shocked at just how there are very few healthy options.
08:14
gasoline sugar caffeine, gasoline sugar caffeine. Right? I'm just shocked at the I'm shocked at just how there are very few healthy options.
08:22
It's amazing.
08:22
It's amazing.
08:23
I just, like, when I I would go to, like, a fast food place, I'm like, look, dude, just give me a grilled chicken breast and, like, vegetables. That's all I need. By the way, we had talked about vending machines before, and, then you're talking about this healthy eating thing. I got pitched to this company. I don't think I'm gonna invest, but It's called daily blends. And what it is is that basically it's a vending machine. It's a, you know, healthy eating vending machine, but instead of snacks, it's basically just a meal in a jar.
08:23
I just, like, when I I would go to, like, a fast food place, I'm like, look, dude, just give me a grilled chicken breast and, like, vegetables. That's all I need. By the way, we had talked about vending machines before, and, then you're talking about this healthy eating thing. I got pitched to this company. I don't think I'm gonna invest, but It's called daily blends. And what it is is that basically it's a vending machine. It's a, you know, healthy eating vending machine, but instead of snacks, it's basically just a meal in a jar.
08:47
And you push a button, and it basically gives you a jar, and the jar has like a ready made meal inside. All you gotta do is kinda like put the dressing on top, mix it up, and then you're ready to go.
08:47
And you push a button, and it basically gives you a jar, and the jar has like a ready made meal inside. All you gotta do is kinda like put the dressing on top, mix it up, and then you're ready to go.
08:56
And, the thing I think is smart is they are
08:56
And, the thing I think is smart is they are
09:00
real they're basically doing big corporate partnerships and they're getting into, like, every hospital. So, like, every hospital needs to be, you know, should they should a hospital really have a vending machine that's just, like, twix, you know, you know, candy bars and, like, you know, red bulls or should it actually have, like, healthy options. And so whether it's, like, big companies, big hospitals,
09:00
real they're basically doing big corporate partnerships and they're getting into, like, every hospital. So, like, every hospital needs to be, you know, should they should a hospital really have a vending machine that's just, like, twix, you know, you know, candy bars and, like, you know, red bulls or should it actually have, like, healthy options. And so whether it's, like, big companies, big hospitals,
09:19
the sort of thing,
09:19
the sort of thing,
09:21
I can kinda squint my eyes and see, like, obviously, it depends on the food and how that works. But, you know, they're able to charge way more than a typical vending machine because people are getting, like, a healthy meal out of it. And they basically have, like, a central kitchen. They make all the jars and they go stock all their vending machines in that city. And I think this is kind of a cool idea. I'm not gonna invest, but reminds me a little bit about that that water company,
09:21
I can kinda squint my eyes and see, like, obviously, it depends on the food and how that works. But, you know, they're able to charge way more than a typical vending machine because people are getting, like, a healthy meal out of it. And they basically have, like, a central kitchen. They make all the jars and they go stock all their vending machines in that city. And I think this is kind of a cool idea. I'm not gonna invest, but reminds me a little bit about that that water company,
09:43
you know, the, like, office water company that's done really, really well. I don't know if you remember the thing. It's like a, like, a billion dollar company I forget. Such for the b, Yeah. Yeah. It's something. Bevy.
09:43
you know, the, like, office water company that's done really, really well. I don't know if you remember the thing. It's like a, like, a billion dollar company I forget. Such for the b, Yeah. Yeah. It's something. Bevy.
09:53
Bevy is the name of it. Yeah. So Bevy is, like, one of these genius things. It's like, hey, does your office want, like,
09:53
Bevy is the name of it. Yeah. So Bevy is, like, one of these genius things. It's like, hey, does your office want, like,
09:59
fancier water fountain? Good.
09:59
fancier water fountain? Good.
10:01
Use a bevy, and they just get planted in every company, and then it's just like a recurring chance to go. And the guy who, Quinn, the guy who came on to talk about
10:01
Use a bevy, and they just get planted in every company, and then it's just like a recurring chance to go. Who, Quinn, the guy who came on to talk about
10:09
bending machines. He said that the thing is is that these healthy options, like the the the the the honey pot is at at
10:09
vending machines. He said that the thing is is that these healthy options, like the the the the the honey pot is at at WeWork where you have, like, dollar sandwich.
10:16
WeWork where you have, like, dollar sandwich.
10:19
But he's, like, basically, like, most of America just wants a monster.
10:19
But he's, like, basically, like, most of America just wants a monster.
10:23
Yeah. But I think I think that's fair.
10:23
Yeah. But I think I think that's fair.
10:26
But I think the one smart thing they're doing is they're going, but there's, like, if you just take hospitals
10:26
But I think the one smart thing they're doing is they're going, but there's, like, if you just take hospitals
10:31
and,
10:31
and,
10:32
airports and things like that, like, they kind of they're sort of incented to have, like, another option and a kind of a better option, even just from Optics point of view. And so I think you could do pretty well just by getting prime placements through through that. But anyways, that's random tangent off of what you said about healthy eating on a road trip. And then the last thing that I'll mention is I am so bullish on America over the next two years, dude.
10:32
airports and things like that, like, they kind of they're sort of incented to have, like, another option and a kind of a better option, even just from Optics point of view. And so I think you could do pretty well just by getting prime placements through through that. But anyways, that's random tangent off of what you said about healthy eating on a road trip. And then the last thing that I'll mention is I am so bullish on America over the next two years, dude.
10:55
Every rent a car place that I've gone to sold out. Like, it's so hard to rent a car. I had a friend. Maybe it was your friend. If someone don't know if you're part of the said that they had a hitchhike in Hawaii because they couldn't get,
10:55
Every rent a car place that I've gone to sold out. Like, it's so hard to rent a car. I had a friend. Maybe it was your friend. If someone don't know if you're part of the said that they had a hitchhike in Hawaii because they couldn't get,
11:08
a rental car. They had to just, like, hope someone would pick them up.
11:08
a rental car. They had to just, like, hope someone would pick them up.
11:11
So rental cars are crazy.
11:11
So rental cars are crazy.
11:13
I like to stay at motel. Sometimes I'll stay at, like, a I'll range from a thirty dollar night place to a two hundred dollar night place just like whatever I'm in the mood for. Everything sold out.
11:13
I like to stay at motel. Sometimes I'll stay at like a I'll range from a thirty dollar night place to a two hundred dollar night place just like whatever I'm in the mood for. Everything sold out.
11:22
The roads are packed. Every,
11:22
The roads are packed. Every,
11:25
convenience store is packed. I'm so bullish on America, and I went and talked to some of my staff and, some of my friends who are just, like, average Americans, they have saved a significant amount of money over the last two years. And they're all, like,
11:25
convenience store is packed. I'm so bullish on America, and I went and talked to some of my staff and, some of my friends who are just, like, average Americans, they have saved a significant amount of money over the last two years. And they're all, like,
11:37
I wanna I'm I'm I wanna go buy something. I need to I need to I need to spend. Yeah. What was it after,
11:37
I wanna I'm I'm I wanna go buy something. I need to I need to I need to spend. Yeah. What was it after,
11:42
like, the World War, whatever the roaring twenties? It seems like we might have the roaring twenty twenties here where, people are ready to travel. They're ready to just go, like, kinda, like, max out all their experiences.
11:42
like, the World War, whatever the roaring twenties? It seems like we might have the roaring twenty twenties here where, people are ready to travel. They're ready to just go, like, kinda, like, max out all their experiences.
11:55
After being sheltered in place for, you know, a year plus sometimes
11:55
After being sheltered in place for, you know, a year plus sometimes
12:00
and, potentially saving money. Have you so I like went out and talked to people, like, like who I know earn between fifty to, like, a hundred and fifty thousand dollars a year. And I was, like, how much money have you saved? And they're, like, more than I've ever saved in, like, in years? I was like, what are you gonna do? And they're like, I'm ready to I wanna buy a Rolex or I wanna buy I live they want to spend. Right. So, like, my trap traveling lately when we went to Miami and everything. We saw it, like, it just consistently like, I try to buy a,
12:00
and, potentially saving money. Have you so I like went out and talked to people, like, like who I know earn between fifty to, like, a hundred and fifty thousand dollars a year. And I was, like, how much money have you saved? And they're, like, more than I've ever saved in, like, in years? I was like, what are you gonna do? And they're like, I'm ready to I wanna buy a Rolex or I wanna buy I live they want to spend. Right. So, like, my trap traveling lately
12:21
when we went to Miami and everything. We saw it, like, it just consistently like, I try to buy a,
12:26
accessories for my trip, like, a, like, a new rack for my car. Everything
12:26
accessories for my trip, like, a, like, a new rack for my car. Everything
12:30
is out, and I'm so bullish on America over the next two years. So that's just an interesting insight from traveling. You wanna talk about ideas Yeah. Let's do it. Alright. So I think the big one is this NCAA thing. We had touched on this briefly, but basically the law changed
12:30
is out, and I'm so bullish on America over the next two years. So that's just an interesting insight from traveling. You wanna talk about ideas Yeah. Let's do it. Alright. So I think the big one is this NCAA thing. We had touched on this briefly, but basically the law changed
12:45
that allowed
12:45
that allowed
12:46
college students to, make money off their name and likeness. So previously,
12:46
college students to, make money off their name and likeness. So previously,
12:51
you're a college athlete.
12:51
you're a college athlete.
12:52
Sorry. I should have said athletes. You previously you're an NCAA athlete. If you,
12:52
Sorry. I should have said athletes. You previously you're an NCAA athlete. If you,
12:57
if you make money, you lose your amateur status. You can't play your sport anymore. And, you can have your scholarship sort of like revoked even potentially if you,
12:57
if you make money, you lose your amateur status. You can't play your sport anymore. And, you can have your scholarship sort of like revoked even potentially if you,
13:05
you, you, you,
13:05
you, you, you,
13:06
you've run afoul of those laws. So that changed And all of a sudden, overnight, a bunch of opportunities opened up. Right? So this,
13:06
you've run afoul of those laws. So that changed And all of a sudden, overnight, a bunch of opportunities opened up. Right? So this,
13:15
this thing that was just bottled up because of regulations and rules all of a sudden, the court got taken out of the bottle, and, you get to see what was gonna happen. And so I don't know if you've paid attention to this, but I think we should do, like, a mini brainstorm on just what we see that's interesting or what you saw people doing? Yeah. So can you explain the rule? Because I think that there's some stuff around it. Like, you can't actually can you not make the money yet it, like, put, like, you can't access the funds? Is there anything weird like that?
13:15
this thing that was just bottled up because of regulations and rules
13:20
all of a sudden, the court got taken out of the bottle, and, you get to see what was gonna happen. And so I don't know if you've paid attention to this, but I think we should do, like, a mini brainstorm on just what we see that's interesting or what you saw people doing? Yeah. So can you explain the rule? Because I think that there's some stuff around it. Like, you can't actually can you not make the money yet it, like, put, like, you can't access the funds? Is there anything weird like that?
13:42
I don't know about that. I think they they they they they definitely started getting, like, signing contracts and getting paid I don't know what the,
13:42
I don't know about that. I think they they they they they definitely started getting, like, signing contracts and getting paid I don't know what the,
13:49
I don't know what the
13:49
I don't know what the
13:50
nuance is of the of the fine print of the law is. I I didn't look into that. So I had this sweetmate in college. So if you Google pure sweat, have you heard of pure sweat basketball?
13:50
nuance is of the of the fine print of the law is. I I didn't look into that. So I had this sweetmate in college. So if you Google pure sweat, have you heard of pure sweat basketball?
13:59
Pure sweat. No. So this guy named Drew Hanland, he's from my hometown. Drenaline. Yeah. He's the trainer, like, on Instagram that you always see with every MBA player. Yeah. So that I've known him since I was a kid, and he was my suite mate in college. So I've known him in high school. And then we went to college together, and I was an I was a track and field athlete. He was a basketball player in college, and he was my suite mate. So we, I got to know him quite well. And he'd be working on this thing called pure sweat. It started out just as like a binder of, like, paper binder full of workouts that he would sell for, like, fifty dollars kids in the neighborhood. And then eventually he, like,
13:59
Pure sweat. No. So this guy named Drew Hanland, he's from my hometown. Drenaline. Yeah. He's the trainer, like, on Instagram that you always see with every MBA player. Yeah. So that I've known him since I was a kid, and he was my suite mate in college. So I've known him in high school. And then we went to college together, and I was an I was a track and field athlete. He was a basketball player in college, and he was my suite mate. So we, I got to know him quite well. And he'd be working on this thing called pure sweat. It started out just as like a binder of, like, paper binder full of workouts that he would sell for, like, fifty dollars kids in the neighborhood. And then eventually he, like,
14:30
made a website and an app, and I don't know how successful it is, but he was always working at night in this thing. He didn't drink or he didn't party, and he was always working on pure sweat. And he eventually, after college, started training,
14:30
made a website and an app, and I don't know how successful it is, but he was always working at night in this thing. He didn't drink or he didn't party, and he was always working on pure sweat. And he eventually, after college, started training,
14:42
what's that guy, like, the Greek freak or whatever. And then, like,
14:42
what's that guy, like, the Greek freak or whatever. And then, like,
14:46
Brandon Beale, Bradley Beale, because he's from Saint Louis.
14:46
Brandon Beale, Bradley Beale, because he's from Saint Louis.
14:50
Zach Levin. Joanne. Yeah. So he, like, trains all these guys. And I haven't I've always I I'm I wasn't close enough to ask him, but I was, like, I wonder how much that pay But, anyway, he has his app. That's, like, a hundred dollars a year. And
14:50
Zach Levin. Joanne. Yeah. So he, like, trains all these guys. And I haven't I've always I I'm I wasn't close enough to ask him, but I was, like, I wonder how much that pay But, anyway, he has his app. That's, like, a hundred dollars a year. And
15:02
in college, I, like, we I was a college app divisional college athlete. I wasn't, like, even remotely a big deal, but they make you sit to these seminars on how you are are allowed and are not allowed to use your image or your name. And he was in that office all the time because he was he was wanted to make sure he was following the rules because he had this business share of sweat. So he couldn't set like, he he I think he was allowed to say, like, this is true handling from Belmont University or whatever. But, anyway, this guy crushes that I bet. I bet she makes five to ten million dollars a year off his little business. And I have a feeling. And by the way, do you know that, like, these, like, summer camps for basketball programs That's the moneymaker.
15:02
in college, I, like, we I was a college app, divisional and college athlete. I wasn't, like, even remotely a big deal, but they make you sit to these seminars on how you are are allowed and are not allowed to use your image or your name. And he was in that office all the time because he was he was wanted to make sure he was following the rules because he had this business share of sweat. So he couldn't set like, he he I think he was allowed to say, like, this is true handling from Belmont University or whatever. But, anyway, this guy crushes that I bet. I bet she makes five to ten million dollars a year off his little business. And I have a feeling. And by the way, do you know that, like, these, like, summer camps for basketball programs That's the moneymaker.
15:40
Yeah. My, I have friends that run these. That's the moneymaker. And these guys, my friends, they were they're paid by the hour, I think, but I think they were getting paid, like, fifty to a hundred dollars an hour. Like, something crazy in the program makes so much money from these camps. So what I think what what I what I think is an easy opportunity is you're gonna see loads of little pure sweats, which is like a a really simple app that just has basketball workouts
15:40
Yeah. My, I have friends that run these. That's the moneymaker. And these guys, my friends, they were they're paid by the hour, I think, but I think they were getting paid, like, fifty to a hundred dollars an hour. Like, something crazy in the program makes so much money from these camps. So what I think what what I what I think is an easy opportunity is you're gonna see loads of little pure sweats, which is like a a really simple app that just has basketball workouts
16:03
that you pay a hundred or two hundred dollars a month or a a year for, I I have to imagine you're gonna see loads of that. That's just such an easy low hanging fruit. My best friend, Trevor, he was a kid from Wyoming, sort of like a five foot nine on a good day. White kid who When I got to Duke, I had found out, oh, the roommate I got randomly matched with, he's trying to walk on to the basketball team. So I'm expecting this, like, six eight black dude to show up. And instead of this five nine white guy shows up from Wyoming.
16:03
that you pay a hundred or two hundred dollars a month or a a year for, I I have to imagine you're gonna see loads of that. That's just such an easy low hanging fruit. My best friend, Trevor, he was a kid from Wyoming, sort of like a five foot nine on a good day. White kid who When I got to Duke, I had found out, oh, the roommate I got randomly matched with, he's trying to walk on to the basketball team. So I'm expecting this, like, six eight black dude to show up. And instead of this five nine white guy shows up from Wyoming.
16:31
And I'm like, no, no, my roommate is trying out for the basketball team. I don't know who you are, but he's like, no, that's me. And, you know, this guy was kinda like a drew hand lens,
16:31
And I'm like, no, no, my roommate is trying out for the basketball team. I don't know who you are, but he's like, no, that's me. And, you know, this guy was kinda like a drew hand lens,
16:39
type of guy, super hard worker, amazing shooter, you know, like, whatever you would expect. So he was like the best high school basketball player in Wyoming
16:39
type of guy, super hard worker, amazing shooter, you know, like, whatever you would expect. So he was like the best high school basketball player in Wyoming
16:48
comes to Duke and tries to walk on, ended up long story short, didn't end up making the team. He was like the last guy cut
16:48
comes to Duke and tries to walk on, ended up long story short, didn't end up making the team. He was like the last guy cut
16:54
and then, you know, stayed on a sort of, like, water boy hoping for his, like, Rudy moment and then, like, that never came. I'll, like,
16:54
and then, you know, stayed on a sort of, like, water boy hoping for his, like, Rudy moment and then, like, that never came. I'll, like,
17:01
some the a a spot opened up. And then they took some other guy because his dad is, like, super rich and he's a booster of the school, and they put him on the team instead. And he was, like, oh, fuck this. But anyways, in the summers, what he would do is he would go back to Wyoming
17:01
some the a a spot opened up And then they took some other guy because his dad is, like, super rich and he's a booster of the school, and they put him on the team instead. And he was, like, oh, fuck this. But anyways, in the summers, what he would do is he would go back to Wyoming
17:14
and people knew him there. They were like, oh, you you went to Duke. You're a you're you were like a legend high school basketball here, and he would run these camps every single day he would have basically, like, three camps running simultaneously.
17:14
and people knew him there. They were like, oh, you you went to Duke. You're a you're you were like a legend high school basketball here, and he would run these camps every single day he would have basically, like, three camps running simultaneously.
17:25
Each kid just pays a hundred dollars. He was underpricing it like crazy. And, you would make his whole year's worth of money in, like, a two and a half month period. And then he spent the other nine months out of the year. Just traveling around learning stuff and then come back and do it again the next summer because he had that brand affinity the way that you're talking about that local brand affinity.
17:25
Each kid just pays a hundred dollars. He was underpricing it like crazy. And, you would make his whole year's worth of money in, like, a two and a half month period. And then he spent the other nine months out of the year. Just traveling around learning stuff and then come back and do it again the next summer because he had that brand affinity the way that you're talking about that local brand affinity.
17:44
So I wanted to go over a couple things I saw happening. So the first thing is,
17:44
So I wanted to go over a couple things I saw happening. So the first thing is,
17:48
cameo was a winner. So winners and losers. So so Camio was a winner.
17:48
cameo was a winner. So winners and losers. So so Camio was a winner.
17:53
All of a sudden, every athlete just put themselves up on cameo. And if you go to Camio's, like, NCAA page, you'll see You know, they already cameo already has an NCA page. They already have an NCA page. They were ready to go, and this is, like, you know, one of the easy ways celebrities make money. There's, like, you know, seventeen pages of that of of people available on the NCA page now. Oh my god. That's so funny. And they're also cheap. It's like twenty five dollars. Yeah. Right? Because they're like, oh, sweet. That's, you know, three meals from me on campus here. Okay. So the second is did you see what Bar stool did?
17:53
All of a sudden, every athlete just put themselves up on cameo. And if you go to Camio's, like, NCAA page, you'll see You know, they already cameo already has an NCA page. They already have an NCA page. They were ready to go, and this is, like, you know, one of the easy ways celebrities make money. There's, like, you know, seventeen pages of that of of people available on the NCA page now. Oh my god. That's so funny. And they're also cheap. It's like twenty five dollars. Yeah. Right? Because they're like, oh, sweet. That's, you know, three meals from me on campus here. Okay. So the second is did you see what Bar stool did?
18:23
Yeah. So Bar stool,
18:23
Yeah. So Bar stool,
18:25
sponsored an athlete for gambling. Right? So so Dave Portnoy, I don't know the exact story, but I saw I was just sort of following this on social media. He goes he's like emergency press conference.
18:25
sponsored an athlete for gambling. Right? So so Dave Portnoy, I don't know the exact story, but I saw I was just sort of following this on social media. He goes he's like emergency press conference.
18:36
He goes on online and he just says, I'm announcing bar stool athlete. What is that? I have no idea. And, like, that was, like, it basically is an emergency thing. And so then somebody so so some athlete messaged him and was like, I'll be the first person athlete.
18:36
He goes on online and he just says, I'm announcing bar stool athlete. What is that? I have no idea. And, like, that was, like, it basically is an emergency thing. And so then somebody so so some athlete messaged him and was like, I'll be the first person athlete.
18:49
And he's like, okay, great. We got this, you know, like, whatever. Some some volleyball player
18:49
And he's like, okay, great. We got this, you know, like, whatever. Some some volleyball player
18:54
girl from this college. She's our first partial athlete, so he tweets it out.
18:54
girl from this college. She's our first partial athlete, so he tweets it out.
18:58
You know, the more people start rolling in. He's like, I don't I didn't even say what this is yet. And so then he goes, he goes on on for a second video. And he goes, listen.
18:58
You know, the more people start rolling in. He's like, I don't I didn't even say what this is yet. And so then he goes, he goes on on for a second video. And he goes, listen.
19:07
A lot of you asking, how to become a bar still athlete? If you play division one sports and you blink at me, I will sign you. I will send you a t shirt. You want pizza? You want campari? Don't know what's gonna happen here. We may just become the most powerful agency in the world here. And so I actually think that, like, that that legitimately could happen because now the athletes can have lawyers, can have agents,
19:07
A lot of you asking, how to become a bar still athlete?
19:10
If you play division one sports and you blink at me, I will sign you. I will send you a t shirt. You want pizza? You want campari? Don't know what's gonna happen here. We may just become the most powerful agency in the world here. And so I actually think that, like, that that legitimately could happen because now the athletes can have lawyers, can have agents,
19:27
that are helping them with their brand deals. And Barstool
19:27
that are helping them with their brand deals. And Barstool
19:30
is just their they're ready to take advantage of this. They have that brand that's super loved. Amongst college, you know, athletes. And so I think they're gonna do really well out of this. So I would say they're another winner. That's that that we talked about the four levels of luck. That's level four luck where your reputation as such that luck finds you. And so that's what's gonna happen. The best athletes are gonna wanna work with bar stool just because of their reputation.
19:30
is just their they're ready to take advantage of this. They have that brand that's super loved. Amongst college, you know, athletes. And so I think they're gonna do really well out of this. So I would say they're another winner. That's that that we talked about the four levels of luck. That's level four luck where your reputation as such that luck finds you. And so that's what's gonna happen. The best athletes are gonna wanna work with bar stool just because of their reputation.
19:52
It's almost boring to discuss the ideas for this because it's obvious. You just look at what I mean, it's it's just the they're now professional athletes almost that anyone has. But what I think is interesting is this idea of inflections.
19:52
It's almost boring to discuss the ideas for this because it's obvious. You just look at what I mean, it's it's just the they're now professional athletes almost that anyone has. But what I think is interesting is this idea of inflections.
20:04
So, like, there's these cultural things that happen. Well, it's not sometimes it's cultural, sometimes it's political, sometimes it's techno technology driven. But, Mike Maple, who we have on the podcast, he actually has a blog post where he talks about inflections because I look for So it could be everyone has an iPhone. So now GPS is possible. Or we are able to build this technology to making GPS possible. So that's a a cultural inflection or, like, you know, being gay is cool now or not cool, but it's accepted. So now, like, having, like, a gay dating app or whatever, you know, like, That's like a cultural shift or weed is no longer frowned upon. That's a cultural inflection.
20:04
So, like, there's these cultural things that happen. Well, it's not sometimes it's cultural, sometimes it's political, sometimes it's techno technology driven. But, Mike Maple, who we have on the podcast, he actually has a blog post where he talks about inflections because I look for So it could be everyone has an iPhone. So now GPS is possible. Or we are able to build this technology to making GPS possible. So that's a a cultural inflection or, like, you know, being gay is cool now or not cool, but it's accepted. So now, like, having, like, a gay dating app or whatever, you know, like, that's like a cultural shift or weed is no longer frowned upon. That's a cultural inflection.
20:40
Now there's also regulation in political inflections. One of them being about two years ago when telemedicine,
20:40
Now there's also regulation in political inflections. One of them being about two years ago when telemedicine,
20:46
the law changed, although it's changing back, that provided a huge gap. This is a perfect example of a regulation
20:46
the law changed, although it's changing back, that provided a huge gap. This is a perfect example of a regulation
20:53
slash political inflection,
20:53
slash political inflection,
20:56
that that big businesses are built in times like this. I'm not gonna be the one because I don't care about this. But this is the type of inflection that we're gonna look back same with sports gambling. You know?
20:56
that that big businesses are built in times like this. I'm not gonna be the one because I don't care about this. But this is the type of inflection that we're gonna look back same with sports gambling. You know?
21:06
Those guys have been at it for years and years and years and it and it was pretty horrible businesses, I believe, for a long time. Something changed. Boom. They took off. Same with UFC. They weren't allowed in New York. They weren't allowed here. Something changed. Boom. They're allowed. This is one of those moments that we'll look back on in twenty years and be like, Think of all the businesses that came from that one ruling.
21:06
Those guys have been at it for years and years and years and it and it was pretty horrible businesses, I believe, for a long time. Something changed. Boom. They took off. Same with UFC. They weren't allowed in New York. They weren't allowed here. Something changed. Boom. They're allowed. This is one of those moments that we'll look back on in twenty years and be like, Think of all the businesses that came from that one ruling.
21:24
Yeah. There's a couple examples of this. So,
21:24
Yeah. There's a couple examples of this. So,
21:26
with, you know, GDPR, this is the, like, kind of, like, privacy
21:26
with, you know, GDPR, this is the, like, kind of, like, privacy
21:30
the thing where you go to website and it says, we want we wanna, you know, use cookies to enhance your experience, you know, like, okay, accept cookies.
21:30
the thing where you go to website and it says, we want we wanna, you know, use cookies to enhance your experience, you know, like, okay, accept cookies.
21:38
And so this is, you know, a law change that happened. And then you saw,
21:38
And so this is, you know, a law change that happened. And then you saw,
21:43
companies come out of this that were, like,
21:43
companies come out of this that were, like,
21:45
I think pretty pretty big companies. So,
21:45
I think pretty pretty big companies. So,
21:48
one of them is one trust. So I think one trust is, like, over two hundred million in annual recurring revenue. It's probably the fast growing enterprise SaaS company in the last ten years. And it's basically it's GDPR compliance as a service. Hey, big company,
21:48
one of them is one trust. So I think one trust is, like, over two hundred million in annual recurring revenue. It's probably the fast growing enterprise SaaS company in the last ten years. And it's basically it's GDPR compliance as a service. Hey, big company
22:02
You are not set the way you set things up are is not compliant with the new laws. You can get smashed for not being compliant here. It's gonna spend your it's gonna take your team of lawyers and engineers in your company, like
22:02
You are not set the way you set things up are is not compliant with the new laws. You can get smashed for not being compliant here. It's gonna spend your it's gonna take your team of lawyers and engineers in your company, like
22:14
weeks, if not months to just understand the laws, then make the changes so that you're compliant. Like, we can do this for you. And so one trust,
22:14
weeks, if not months to just understand the laws, then make the changes so that you're compliant. Like, we can do this for you. And so one trust,
22:21
you know, already at a five billion dollar valuation,
22:21
you know, already at a five billion dollar valuation,
22:24
in less than I don't even know when GDPR came like, I don't know, five years ago or something. Yeah. So so that's kind of like an exact great example. Asana was another one. This company I wanted to invest in in that same space. Because that regulation change made that happen. Another one, UnitedHealth.
22:24
in less than I don't even know when GDPR came like, I don't know, five years ago or something. Yeah. So so that's kind of like an exact great example. Asana was another one. This company I wanted to invest in in that same space. Because that regulation change made that happen. Another one, UnitedHealth.
22:39
So when Obamacare kicked in, companies like, I think Oscar and United Health, I don't know too much about this space, but what I do know is if you go look at the stock chart for UnitedHealth,
22:39
So when Obamacare kicked in, companies like, I think Oscar and United Health, I don't know too much about this space, but what I do know is if you go look at the stock chart for UnitedHealth,
22:49
it's like flat flat flat flat flat. Oh, something happened at, like, two thousand and, like, nine, ten range. What happened? Oh, you know, like, as the as Obamacare kicked in, the stock price went from, like, twenty four dollars a share to four hundred dollars a share now. And so, you know, that was a better investment than Amazon, Google, net flakes, whatever, during the same period of time,
22:49
it's like flat flat flat flat flat. Oh, something happened at, like, two thousand and, like, nine, ten range. What happened? Oh, you know, like, as the as Obamacare kicked in, the stock price went from, like, twenty four dollars a share to four hundred dollars a share now. And so, you know, that was a better investment than Amazon, Google, net flakes, whatever, during the same period of time,
23:11
because
23:11
because
23:11
they were well positioned to take advantage of the new law changes. So one of the law changes that I think you could take advantage of here is there's the obvious ideas, which is great. You're an agency for NCA athletes. Like what we're talking about a bar store or your cameo, right, your platform where they can go on and monetize their their name and face.
23:11
they were well positioned to take advantage of the new law changes. So one of the law changes that I think you could take advantage of here is there's the obvious ideas, which is great. You're an agency for NCA athletes. Like what we're talking about a bar store or your cameo, right, your platform where they can go on and monetize their their name and face.
23:29
Another one is these athletes have to report
23:29
Another one is these athletes have to report
23:33
the deals that they're doing to their school.
23:33
the deals that they're doing to their school.
23:35
So you can't just do like anything. You have to report it. I can tell you what, most of these athletes are not gonna do a good job of keeping track of all their deals, how much they got paid, what the date was, what the terms were, and all the collateral they're gonna need to report this. And the schools are gonna need it to report it to the NCAA.
23:35
So you can't just do like anything. You have to report it. I can tell you what, most of these athletes are not gonna do a good job of keeping track of all their deals, how much they got paid, what the date was, what the terms were, and all the collateral they're gonna need to report this. And the schools are gonna need it to report it to the NCAA.
23:51
And so somebody who builds that back office sort of reporting tool, that underlying infrastructure layer,
23:51
And so somebody who builds that back office sort of reporting tool, that underlying infrastructure layer,
23:56
that's gonna become incredibly valuable. A way to think about that is like Carta
23:56
that's gonna become incredibly valuable. A way to think about that is like Carta
24:01
or, or AngelList, like these underlying platforms that sit underneath,
24:01
or, or AngelList, like these underlying platforms that sit underneath,
24:06
the the the entrepreneur. And so That's one that's one opportunity that I could see taking off it. I actually think that's the best idea
24:06
the the the entrepreneur. And so That's one that's one opportunity that I could see taking off it. I actually think that's the best idea
24:12
that we you've had in a long time. Alright. I'll stop there. I won't give you more. I don't know what, like, the total addressable market is for that, but, like, I mean, it's enough.
24:12
that we you've had in a long time. Alright. I'll stop there. I won't give you more. I don't know what, like, the total addressable market is for that, but, like, I mean, it's enough.
24:21
Well, just for I mean, what's happening right now, by the way? Cities to to spend tens of thousands a year for your software. Like, that's it's there's enough. And you'll be sticking. Right? And you'll become the system of record for all these things. They're not gonna wanna switch two years in because this other system of record has a new feature. So whoever gets plugged in as the system of record has the opportunity to, like, own that data. You're you're entrenched in all these universities who are not looking to take a bunch of risk. And then you could build on all the add on services. So you could build on other things that allow, you know, whether it's banking or it's contracts or it's
24:21
Well, just for I mean, what's happening right now, by the way? Cities to to spend tens of thousands a year for your software. Like, that's it's there's enough. And you'll be sticking. Right? And you'll become the system of record for all these things. They're not gonna wanna switch two years in because this other system of record has a new feature. So whoever gets plugged in as the system of record has the opportunity to, like, own that data. You're you're entrenched in all these universities who are not looking to take a bunch of risk. And then you could build on all the add on services. So you could build on other things that allow, you know, whether it's banking or it's contracts or it's
24:54
marketplace for deals, whatever. You could build all that on top of the data record
24:54
marketplace for deals, whatever. You could build all that on top of the data record
24:58
record book. You know what I just realized? Now this company that you and I invested in, there's actually a lot of competitors, but we invested in this company called Stan. Yes.
24:58
record book. You know what I just realized? Now this company that you and I invested in, there's actually a lot of competitors, but we invested in this company called Stan. Yes.
25:08
Don't even know the URL. It's like stan with dot me.
25:08
Don't even know the URL. It's, like, stan with dot me.
25:11
Stan with dot me. And, basically, what it is is you
25:11
Stan with dot me. And, basically, what it is is you,
25:15
you put a link in your Twitter bio or your LinkedIn bio, you click that link, and it's like link tree where you see like five different pages you can click off to, but it says, like, book a call with me
25:15
you put a link in your Twitter bio or your LinkedIn bio, you click that link, and it's like link tree where you see like five different pages you can click off to, but it says, like, book a call with me.
25:25
sell you this thing. It's basically for commerce, you know, like, giving you money for an exchange for some type of whether it's time or document.
25:25
Sell you this thing. It's basically for commerce, you know, like, giving you money for an exchange for some type of whether it's time or document.
25:32
Perhaps we'll see those type, although I don't necessarily believe that that will be the case, but, this thing might, like, impact that business. But so I think there's a bunch of cool inflections here.
25:32
Perhaps we'll see those type, although I don't necessarily believe that that will be the case, but, this thing might, like, impact that business. But so I think there's a bunch of cool inflections here.
25:43
And this whole, like, idea of inflections, I think there's a lot to learn from. I was just reading about Thomas Edison, and basically he was like, look, I just invented this light bulb. It's gonna work. It's amazing, but there was no power at the time. And he's like, well, we can power it by putting up these these wires that go from house to house to house, and the government was like, no. We're not doing this. And so one day he, hosts a dinner, and he goes, I want all you guys to come to this dinner. And they come up to the dinner and there's no lamp lamps. So it's pitch black.
25:43
And this whole, like, idea of inflections, I think there's a lot to learn from. I was just reading about Thomas Edison, and basically he was like, look, I just invented this light bulb. It's gonna work. It's amazing, but there was no power at the time. And he's like, well, we can power it by putting up these these wires that go from house to house to house, and the government was like, no. We're not doing this. And so one day he, hosts a dinner, and he goes, I want all you guys to come to this dinner. And they come up to the dinner and there's no lamp lamps. So it's pitch black.
26:10
And they're sitting there. They're like, what the hell are we doing? And then he just flips a switch and boom. His light come on automatically. And there's waiters there, ready to greet them, and they're like, and he's like, this is how people are gonna live from now on. And they go, oh, great. Okay. Fine. Well, we we will allow you to, put electricity throughout Manhattan in the smaller area to test it out. And so this idea of and and that is how by the way. I got chills while you're telling this story. I love that. And that is how,
26:10
And they're sitting there. They're like, what the hell are we doing? And then he just flips a switch and boom. His light come on automatically. And there's waiters there, ready to greet them, and they're like, and he's like, this is how people are gonna live from now on. And they go, oh, great. Okay. Fine. Well, we we will allow you to, put electricity throughout Manhattan in the smaller area to test it out. And so this idea of and and that is how by the way. I got chills while you're telling this story. I love that. And that is how,
26:36
GE came to be eventually, was in a bunch of these companies, that Thomas Edison had on, you know, he was involved in a little bit of everything. And so anyway I'll tell you tweet something that Thomas Edison invented the word Hello. Yeah. So, basically, before Edison, people would say greetings or,
26:36
GE came to be eventually, was in a bunch of these companies, that Thomas Edison had on, you know, he was involved in a little bit of everything. And so anyway I'll tell you tweet something that Thomas Edison invented the word Hello. Yeah. So, basically, before Edison, people would say greetings or,
26:53
good afternoon. Like, hello, wasn't even a word. In fact, the word hello, it it was pronounced a little bit differently. It was like Halo or, like, something silly like that. And when he invented the phone, He was actually partially deaf and also the phones weren't very good. So he would call like an operator in order to set this up, and they would have to think of a word to say to be like the greeting on the phone and he was like, well, the word hello, I can actually stream that pretty easily. And so I'm gonna start saying hello. Like, it was hello. It was, like, originally, it was meant to, like, as a as a word to, like, say, oh, you surprised me. Hello? You surprised me. You know? And so that's how he started saying it. And then once people started using the phone, they started saying it, and the phone got better. And then it just became a hello?
26:53
good afternoon. Like, hello, wasn't even a word. In fact, the word hello, it was pronounced a little bit differently. It was, like, hello or, like, something silly like that. And when he invented the phone, He was actually partially deaf and also the phones weren't very good. So he would call like an operator in order to set this up, and they would have to think of a word to say to be like the greeting on the phone and he was like, well, the word hello, I can actually stream that pretty easily. And so I'm gonna start saying hello. Like, it was hello. It was, like, originally, it was meant to, like, as a as a word to, like, say, oh, you surprised me. Hello? You surprised me. You know? And so that's how he started saying it. And then once people started using the phone, they started saying it, and the phone got better. And then it just became a hello?
27:35
Wow. And that's that's how the word Hello came to be. And then, anyway, this idea of inflections are actually really interesting. So there's all types of moments where these things are capable. And and I think that this NCAAA thing, it's interesting. The idea you said is interesting, but the concept here of inflections is actually more important because we are actually seeing it happen right now. And by the way, I hear this so often.
27:35
Wow. And that's that's how the word Hello came to be. And then, anyway, this idea of inflections are actually really interesting. So there's all types of moments where these things are capable. And and I think that this NCAAA thing, it's interesting. The idea you said is interesting, but the concept here of inflections is actually more important because we are actually seeing it happen right now. And by the way, I hear this so often.
27:56
Two two two examples come to mind. One, I was talking to
27:56
Two two two examples come to mind. One, I was talking to
28:01
this guy, Jesse Pucci, who we should have on the podcast. I know him. He's, lives in Saint Louis. That's right. And he was telling me his story. You know, oh, how'd you build your company? He built this company, Am Push, and like this digital marketing agency that I was working with Dollar Shave Club and Blue Apron and all the big brands. And so and and they eventually sold it. And so one of the things he had said, he's like, yeah. You know, we were just doing this other thing, and then it was kind of wasn't working.
28:01
this guy, Jesse Pucci, who we should have on the podcast. I know him. He's, lives in Saint Louis. That's right. And he was telling me his story. You know, oh, how'd you build your company? He built this company, Am Push, and like this digital marketing agency that I was working with Dollar Shave Club and Blue Apron and all the big brands. And so and and they eventually sold it. And so one of the things he had said, he's like, yeah. You know, we were just doing this other thing, and then it was kind of wasn't working.
28:23
And then that's when, you know, like, that's when whatever
28:23
And then that's when, you know, like, that's when whatever
28:27
the Facebook platform launched,
28:27
the Facebook platform launched,
28:29
or Facebook announced, you know, a news feed or Google launched AdWords or whatever. Right? There's all these, like, moments where new thing comes into existence
28:29
or Facebook announced, you know, a news feed or Google launched AdWords or whatever. Right? There's all these, like, moments where new thing comes into existence
28:37
is like, well, like, this thing we're doing is not working. So, like, let me go jump on that. And, and the same story is true for for, our friend Sully who he was like, yeah, I quit my job at Microsoft. I wanted to go be an entrepreneur. I didn't know what I was gonna do. So I,
28:37
is like, well, like, this thing we're doing is not working. So, like, let me go jump on that. And, and the same story is true for for, our friend Sully who he was like, yeah, I quit my job at Microsoft. I wanted to go be an entrepreneur. I didn't know what I was gonna do. So I,
28:52
I moved back in to my parents house. And, like, that day that I moved in, I was, you know, just browsing the internet. I saw that Facebook launched this new platform app platform. So I was like, okay. Cool. Like, let me try to build an app today. And he's like, I didn't know if it was gonna be a thing, but, like, he was one of the first app developers on there, built simple dumb app and, like, immediately started to, like, go to fly on Facebook because Facebook was that good of a, like,
28:52
I moved back in to my parents house. And, like, that day that I moved in, I was, you know, just browsing the internet. I saw that Facebook launched this new platform app platform. So I was like, okay. Cool. Like, let me try to build an app today. And he's like, I didn't know if it was gonna be a thing, but, like, he was one of the first app developers on there, built simple dumb app and, like, immediately started to, like, go to fly on Facebook because Facebook was that good of a, like,
29:16
platform, and it was so new that people wanted to play with the new thing on the platform. And so that was, like, their start. And I've really heard this a bunch of times, which is a lot of times as an entrepreneur,
29:16
platform, and it was so new that people wanted to play with the new thing on the platform. And so that was, like, their start. And I've really heard this a bunch of times, which is a lot of times as an entrepreneur,
29:26
You just need to be in the market. You need to be in the game. And even if your current thing's not working, if you are aware of these, like, inflection points, these shifts, these platform shifts, or or big changes, either in law or technology
29:26
You just need to be in the market. You need to be in the game. And even if your current thing's not working, if you are aware of these, like, inflection points, these shifts, these platform shifts, or or big changes, either in law or technology
29:40
or, open platforms, things like that.
29:40
or, open platforms, things like that.
29:43
You you're the perfect person to shift over because you're kind of, like, already jogging. You're not at, like, a cold start. You're not, like, at a job where you gotta decide if I should quit or not. And,
29:43
You you're the perfect person to shift over because you're kind of, like, already jogging. You're not at, like, a cold start. You're not, like, at a job where you gotta decide if I should quit or not. And,
29:52
And you weren't so successful at your current thing that you're that you were married to it. So you hop on over. And I've just heard this many, many times over the same,
29:52
And you weren't so successful at your current thing that you're that you were married to it. So you hop on over. And I've just heard this many, many times over the same,
30:01
same model of, like, yeah, I was doing this thing. I wasn't really working that great. And then, boom, I saw that Facebook ad platform launched. So I made an ad for t shirts, and I started selling like crazy. And then I started, you know, then, you know, those are the glory days, and it's it's all downhill from there. But And we are seeing these we're seeing these actually constantly. So,
30:01
same model of, like, yeah, I was doing this thing. I wasn't really working that great. And then, boom, I saw that Facebook ad platform launched. So I made an ad for t shirts, and I started selling like crazy. And then I started, you know, then, you know, those are the glory days, and it's it's all downhill from there. But And we are seeing these we're seeing these actually constantly. So,
30:19
like, there's a thousand examples that we can just give that just happened in the last five or ten years. I mean, you said Facebook. You said Google. You said you could say the same for Snapchat. Clubhouse likely won't pan out, but that was definitely an opportunity to have one. The NCAA thing, the medical thing where now doctors could practice remotely because of COVID, I mean, working remotely. I mean, there's just it happened constantly. What I like to do is I like to read politico. Politico is a cool site that tells you on regulation updates. That's a great way to learn about these. But there's, like, loads of different inflections, and they happen consistently. And you you could be an insider to have see some of them. So, like, you know, if you're not working in tech, you're not gonna see, like, the the power of Facebook early on. But, like, a lot of them are actually, like, the the information is oftentimes blatantly obvious. It's not obvious that this is gonna be the one, but it's blatantly obvious, like, alright. This could be, inflection.
30:19
like, there's a thousand examples that we can just give that just happened in the last five or ten years. I mean, you said Facebook. You said Google. You said you could say the same for Snapchat. Clubhouse likely won't pan out, but that was definitely an opportunity to have one. The NCAA thing,
30:33
the medical thing where now doctors could practice remotely because of COVID, I mean, working remotely. I mean, there's just it happened constantly. What I like to do is I like to read politico. Politico is a cool site that tells you on regulation updates. That's a great way to learn about these. But there's, like, loads of different inflections, and they happen consistently. And you you could be an insider to have see some of them. So, like, you know, if you're not working in tech, you're not gonna see, like, the the power of Facebook early on. But, like, a lot of them are actually, like, the the information is oftentimes blatantly obvious. It's not obvious that this is gonna be the one, but it's blatantly obvious, like, alright. This could be, inflection.
31:09
Right. Yeah. And it goes back to that same two by two matrix. This athlete thing is,
31:09
Right. Yeah. And it goes back to that same two by two matrix. This athlete thing is,
31:15
is basically,
31:15
is basically,
31:16
it's new problem.
31:16
it's new problem.
31:18
Like, all of a sudden, a whole bunch of people have a new problem. These athletes have to keep track of their records. They wanna make money. They can now do this. And there's gonna be old, you know, you can take some old solution and repurpose it for for this new opportunity, this new problem that that exists in the world. And so, alright. Let's move on. Let's do another one. Do you have one or you want me to do So,
31:18
Like, all of a sudden, a whole bunch of people have a new problem. These athletes have to keep track of their records. They wanna make money. They can now do this. And there's gonna be old, you know, you can take some old solution and repurpose it for for this new opportunity, this new problem that that exists in the world. And so, alright. Let's move on. Let's do another one. Do you have one or you want me to do So,
31:35
I just found this company, and I actually heard of it for a while. I'll tell you two interesting companies that I I discovered
31:35
I just found this company, and I actually heard of it for a while. I'll tell you two interesting companies that I I discovered
31:42
The first was it was it's called near dot com. Before this, it was called FYI, I think. Yes.
31:42
The first was it was it's called near dot com. Before this, it was called FYI, I think. Yes.
31:48
So the reason why I came I I found this Do you know who heat and shot is? I know heat shot. Yeah. I invested in Nira, by the way. Oh, you did? Yeah. Oh, sick. Alright. Well, we could talk about it. So heat and shot So there's this guy named Neil Patel, who's like the face. And if you are
31:48
So the reason why I came I I found this Do you know who heat and shot is? I know heat shot. Yeah. I invested in Nira, by the way. Oh, you did? Yeah. Oh, sick. Alright. Well, we could talk about it. So heat and shot So there's this guy named Neil Patel, who's like the face. And if you are
32:04
probably a little bit younger than me, then you probably don't know who he is. But if you're about my age or older, you probably know who who Neil Patel is. He had this amazing blog called quick sprout. And this was, like, if you wanted to learn anything about search or Google, his blog for somehow, I don't know how he managed this, covered pretty much everything. And he built a huge blog for SEO, and it became a huge business, and he launched loads of different software products on top of it. Well, Heaton Shah was his right hand man and probably the operator behind the brain behind this. He just launched this new business a while ago, and I had the I looked at my old messages. I dm ed them two years ago when we first launched but I didn't have any money at the time. And I was like, dude, this is amazing. And so he changed the name to Nira, and it's really simple. What it is is basically if you are a company, like, HubSpot. So you have thirty or, three thousand employees or the hustle when we had just ten employees.
32:04
probably a little bit younger than me, then you probably don't know who he is. But if you're about my age or older, you probably know who who Neil Patel is. He had this amazing blog called quick sprout. And this was, like, if you wanted to learn anything about search or Google, his blog for somehow, I don't know how he managed this, covered pretty much everything. And he built a huge blog for SEO, and it became a huge business, and he launched loads of different software products on top of it. Well, Heaton Shah was his right hand man and probably the operator behind the brain behind this. He just launched this new business a while ago, and I had the I looked at my old messages. I dm ed them two years ago when we first launched but I didn't have any money at the time. And I was like, dude, this is amazing. And so he changed the name to Nira, and it's really simple. What it is is basically if you are a company, like, HubSpot. So you have thirty or, three thousand employees or the hustle when we had just ten employees.
32:52
Even when you have ten employees, my current Gmail has a hundred gigs full. So let's say you do times ten, that's, a thousand gigs. That's, like, a terabyte, I believe, of of data. That's, like,
32:52
Even when you have ten employees, my current Gmail has a hundred gigs full. So let's say you do times ten, that's, a thousand gigs. That's, like, a terabyte, I believe, of of data. That's, like,
33:04
hundreds of thousands of documents and images and whatever. It's really hard to find all of those images, but also it's hard to know who has access to all these things. So for example, you have this document called salaries, and you must have, like, accidentally said, like, shared to everyone who has access to the to this folder, you don't fucking see that. Or if someone quits, you they still have access to this document called passwords, like stupid stuff. Yep. Well,
33:04
hundreds of thousands of documents and images and whatever. It's really hard to find all of those images, but also it's hard to know who has access to all these things. So for example, you have this document called salaries, and you must have, like, accidentally said, like, shared to everyone who has access to the to this folder, you don't fucking see that. Or if someone quits, you they still have access to this document called passwords, like stupid stuff. Yep. Well,
33:30
Heton built this software that I didn't even realize this was a problem. I mean, I have had this problem, but I'm like, oh, this is actually a great thing that you could sell. It was a blind spot. You're just like, oh, this is just the way the world is. You know, it's just like a problem you live with until somebody says, by the way, you know, we can you could stop that. Right? And you're like, I'm scared.
33:30
Heton built this software that I didn't even realize this was a problem. I mean, I have had this problem, but I'm like, oh, this is actually a great thing that you could sell. It was a blind spot. You're just like, oh, this is just the way the world is. You know, it's just like a problem you live with until somebody says, by the way, you know, we can you could stop that. Right? And you're like, I'm scared.
33:47
And so he's been working on but here's so so, anyway, it's the the the product is is interesting, but that's not even what I care about. It's basically just a search engine for an entire company's documents.
33:47
And so he's been working on but here's so so, anyway, it's the the the product is is interesting, but that's not even what I care about. It's basically just a search engine for an entire company's documents.
33:58
Well, that okay. So that's what it originally was. That's the f y that's what FYI was, which was, like, A quick way, you just type in you don't need to know that the doc is in, like, normally, you wanna find a doc. You think, oh, that's in Google Drive or that's in Dropbox or
33:58
Well, that okay. So that's what it originally was. That's the f y that's what FYI was, which was, like, A quick way, you just type in you don't need to know that the doc is in, like, normally, you wanna find a doc. You think, oh, that's in Google Drive or that's in Dropbox or
34:12
maybe it's in Asana or I need to go find this thing. So what he made was just like one search bar to go find the document across all your cloud apps.
34:12
maybe it's in Asana or I need to go find this thing. So what he made was just like one search bar to go find the document across all your cloud apps.
34:19
And I think, you know, after a bunch of trial and error and customer development, he found out that that's not the problem we're solving. The problem we're solving is that second part you talked about, which is the security. If you go to It's just it just says protect your company documents from unauthorized access,
34:19
And I think, you know, after a bunch of trial and error and customer development, he found out that that's not the problem we're solving. The problem we're solving is that second part you talked about, which is the security. If you go to com. It's just it's just says protect your company documents from unauthorized access,
34:32
which is exactly what it's, like, says, that's the problem you were talking about. Right? Like,
34:32
which is exactly what it's, like, says, and that's the problem you were talking about. Right? Like,
34:37
I just brought somebody on board,
34:37
I just brought somebody on board,
34:39
and they were showing me,
34:39
and they were showing me,
34:41
you know, like a spreadsheet from a previous company that they worked at. And I was like, who do you still have access to this? And he's like, yeah. I don't know. Like, I'm not, obviously, I'm not doing anything bad with it, but, like, yeah, so fucked up. You shouldn't have that. You know, that's, like, their KPIs
34:41
you know, like a spreadsheet from a previous company that they worked at. And I was like, who do you still have access to this? And he's like, yeah. I don't know. Like, I'm not, obviously, I'm not doing anything bad with it, but, like, yeah, so fucked up. You shouldn't have that. You know, that's, like, their KPIs
34:55
And I'm I'm guilty of this too. Like you said, like, you share one thing with a with a group or a list, and now they have a bunch of stuff. Or somebody leaves and they shouldn't have it, or you're sharing it with some vendor and, like, they vendor shall have access. And it's it it is impossible.
34:55
And I'm I'm guilty of this too. Like you said, like, you share one thing with a with a group or a list, and now they have a bunch of stuff. Or somebody leaves and they shouldn't have it, or you're sharing it with some vendor and, like, they vendor shall have access. And it's it it is impossible.
35:08
To go through all your documents that are in the cloud and make sure that who has the right thing. And so Nira is solving that problem by creating, like, one interface work. So I think that's kind of a, like,
35:08
To go through all your documents that are in the cloud and make sure that who has the right thing. And so Nira is solving that problem by creating, like, one interface work. So I think that's kind of a, like,
35:18
pretty genius,
35:18
pretty genius,
35:19
problems,
35:19
problems,
35:20
like, a problem that they identified. That's worth solving. I think every this is a every company problem,
35:20
like, a problem that they identified. That's worth solving. I think every this is a every company problem,
35:26
as far as I'm concerned. And only growing. Yeah. But I wanna explain why first of all, how'd you hear about this, sir? Because your friend's a heaton, he hollering at you? Yeah. Loosely.
35:26
as far as I'm concerned. And only growing. Yeah. But I wanna explain why first of all, how'd you hear about this, sir? Because your friends are heating. He hollied at you? Yeah. Loosely.
35:34
He, If we're not big, but he's like, we're cool with each other, and then I saw this. I was like, oh, that's dope. How did you see how do you know of us? See, I'm friends with him. And he, like, I we talked to the other chat with him. And so I saw he was talking about there. Oh my god. That's so funny. You're you're in on everything.
35:34
He, If we're not big, but he's like, we're cool with each other, and then I saw this. I was like, oh, that's dope. How did you see how do you know of us? See, I'm friends with him. And he, like, I we talked to other I mean, if you chat with him, and so I saw he was talking about there. Oh my god. That's so funny. You're you're in on everything.
35:49
He, but there's a few things that's interesting. First of all, like, I I'm pretty positive this has I mean, he could screw it up and and I mean, like, there there's execution risk risk here, but I think, like, it's gonna be pretty big. Like, if as long as they just have c plus execution,
35:49
He, but there's a few things that's interesting. First of all, like, I I'm pretty positive this has I mean, he could screw it up and and I mean, like, there there's execution risk risk here, but I think, like, it's gonna be pretty big. Like, if as long as they just have c plus execution,
36:04
But what is interesting to me is and this is out of my world, you know, you and I do stuff that we come up with an idea and we can make money off of it in five days, but it can also, like, go away pretty easily.
36:04
But what is interesting to me is and this is out of my world, you know, you and I do stuff that we come up with an idea and we can make money off of it in five days, but it can also, like, go away pretty easily.
36:15
He's been working on this for two years before he's getting any customers with, like, ten employees
36:15
He's been working on this for two years before he's getting any customers with, like, ten employees
36:20
because in order to sell these enterprise contracts,
36:20
because in order to sell these enterprise contracts,
36:23
especially to the IT department where everyone's, like, uptight as they should be, you have to everything's gonna be buttoned up. And it's really cool that I get intel or insight into that I normally don't ever see that. You have to have so much patience to build these SaaS tools. And so I don't think I'm cut out for it, but I thought it was really interesting. Specifically the the enterprise ones. Right? There's two types of SaaS. There's, like, bottoms up, where it's just, like, kinda like consumer, like, oh, you just have this cool product that developer hears about PM here's about you. They just sign up themselves, and you're hoping it kinda spreads virally throughout the the company because the product is so good. It's product driven growth. And then there's enterprise sales. Enterprise sales is basically saying I need to go be able to knock on knock on the doors of people the right people at at the top of a company
36:23
especially to the IT department where everyone's, like, uptight as they should be, you have to everything's gonna be buttoned up. And it's really cool that I get intel or insight into that I normally don't ever see that. You have to have so much patience to build these SaaS tools. And so I don't think I'm cut out for it, but I thought it was really interesting. Specifically the the enterprise ones. Right? There's two types of SaaS. There's, like, bottoms up, where it's just, like, kinda like consumer, like, oh, you just have this cool product that developer hears about PM here's about you. They just sign up themselves, and you're hoping it kinda spreads virally throughout the the company because the product is so good. It's product driven growth. And then there's enterprise sales. Enterprise sales is basically saying I need to go be able to knock on knock on the doors of people the right people at at the top of a company
37:07
I need to be able to sell a product for over a hundred thousand dollars a year eventually. And,
37:07
I need to be able to sell a product for over a hundred thousand dollars a year eventually. And,
37:12
and that's my that's my game. And I'm gonna the sales cycle might be six to eighteen months.
37:12
and that's my that's my game. And I'm gonna the sales cycle might be six to eighteen months.
37:16
And, I'm gonna do what I can to accelerate that. But in reality, that's just the way these companies move.
37:16
And, I'm gonna do what I can to accelerate that. But in reality, that's just the way these companies move.
37:22
And,
37:22
And,
37:23
I'm with you. That that is not the DNA I have. That's not where I would be. That's not where I would be strong. But other people, you know, they who do it, obviously, enterprise sales is, like, extremely
37:23
I'm with you. That that is not the DNA I have. That's not where I would be. That's not where I would be strong. But other people, you know, they who do it, obviously, enterprise sales is, like, extremely
37:33
valuable when you can when you can do it. Yeah. So I just wanted to bring this up because
37:33
valuable when you can when you can do it. Yeah. So I just wanted to bring this up because
37:38
it was interesting to, like, talk to him and be like, yeah, we've worked for two years doing this. Our roadmap is this. And that is just not really what we talk about a lot of, like, this, like, epic planning and, like, really, like, alright, in three years, hopefully we'll be here. Right. Next in two quarters will be at this. And I actually think that that's good. I I wish I were like that a little bit. I'm not.
37:38
it was interesting to, like, talk to him and be, like, yeah, we've worked for two years doing this. Our roadmap is this. And that is just not really what we talk about a lot of, like, this, like, epic planning and, like, really, like, alright, in three years, hopefully we'll be here. Right. Next in two quarters will be at this. And I actually think that that's good. I I wish I were like that a little bit. I'm not.
38:01
But I thought it was a crazy fascinating to see how
38:01
But I thought it was a crazy fascinating to see how
38:05
you have to sweat the details so much before you even get a customer. And you just have to spend so much money Right. You know, ten, twenty engineers to do this. So I just wanted to bring that up. You wanna do another one? Yeah. Let's do one. I think I've said this once before on the pod. I wanna do I'll I'll do it quickly. You tell me if we've already talked about it. But it's this idea of Zapier for sounds. Have I talked do you know which idea I have here? You didn't bring it up last time, but I I've heard this phrase before from you. I don't think you brought it up there. You're the one who kind of really highlighted Zapier to me. Right? I was using it. I and Zapier for all I knew might have just been, like,
38:05
you have to sweat the details so much before you even get a customer. And you just have to spend so much money Right. You know, ten, twenty engineers to do this. So I just wanted to bring that up. You wanna do another one? Yeah. Let's do one. I think I've said this once before on the pod. I wanna do I'll I'll do it quickly. You tell me if we've already talked about it. But it's this idea of Zapier for sounds. Have I talked do you know which idea I have here? You didn't bring it up last time, but I I've heard this phrase before from you. I don't think you brought it up there. You're the one who kind of really highlighted Zapier to me. Right? I was using it. I and Zapier for all I knew might have just been, like,
38:39
two dudes, you know, who built this as a side project, and they're kind of in They're on a and b hackers dot com bootstrapping, and they're at, you know, eight eight thousand a month of MRR.
38:39
two dudes, you know, who built this as a side project, and they're kind of in They're on a and b hackers dot com bootstrapping, and they're at, you know, eight eight thousand a month of MRR.
38:48
No. Xavier is like a billion dollar company.
38:48
No. Xavier is like a billion dollar company.
38:51
Multi billion dollar. Multi billion dollar company that was largely bootstrapped. I think they they got There is a million dollars in funding and use that million dollars in funding to get to a billion dollar status. Right. So so pretty, free and impressive. And when you go to the product, it's like a very simple thing. Zapier just lets you say, hey, it's like a pipe. And so it just connects two different services. So you might say, hey, whenever somebody signs up for my on my website, for my mailing list, put them into this spreadsheet or, like, send me an email.
38:51
Multi billion dollar. Multi billion dollar company that was largely bootstrapped. I think they they got There is a million dollars in funding and use that million dollars in funding to get to a billion dollar status. Right. So so pretty, free and impressive. And when you go to the product, it's like a very simple thing. Zapier just lets you say, hey, it's like a pipe. And so it just connects two different services. So you might say, hey, whenever somebody signs up for my on my website, for my mailing list, put them into this spreadsheet or, like, send me an email.
39:19
And so you're just connecting, like, Gmail and your your your website, or you're connecting, like, whatever,
39:19
And so you're just connecting, like, Gmail and your your your website, or you're connecting, like, whatever,
39:25
Shopify
39:25
Shopify
39:26
and, Slack. So you just connect the you just create these little formulas. If this happens, then do this. And so that's what Zapier is. And Zapier's become very, very successful, obviously, because people want that. They they wanna say, okay, they wanna basically nobody wants to build anything. It's like there's a million there's a tool for everything, but they don't speak to each other. So the Xavier is like a connector between tools. So anyways,
39:26
and, Slack. So you just connect the you just create these little formulas. If this happens, then do this. And so that's what Zapier is. And Zapier's become very, very successful, obviously, because people want that. They they wanna say, okay, they wanna basically nobody wants to build anything. It's like there's a million there's a tool for everything, but they don't speak to each other. So the Xavier is like a connector between tools. So anyways,
39:48
Zavier for Sounds. What is it? So my friend,
39:48
Zavier for Sounds. What is it? So my friend,
39:51
Samir had this idea.
39:51
Samir had this idea.
39:53
And, Samir Bala, and he was gonna do it. And then he'd, like, found a better opportunity. Like, there's a fast growing startup and he joined as, like, a exec there instead.
39:53
And, Samir Bala, and he was gonna do it. And then he'd, like, found a better opportunity. Like, there's a fast growing startup and he joined as, like, a exec there instead.
40:02
And I was like, oh, dude, I love this idea, and I I agreed for, like, I put, like, a one and a half year embargo on talking about this idea because I thought he might do it. At this point, I'm pretty confident he's not gonna But the what Disney outlined was pretty damn good. He goes,
40:02
And I was like, oh, dude, I love this idea, and I I agreed for, like, I put, like, a one and a half year embargo on talking about this idea because I thought he might do it. At this point, I'm pretty confident he's not gonna But the what Disney outlined was pretty damn good. He goes,
40:16
every team, every company has something in their some event that happens in their company that they celebrate. For the hospital, it might be getting an email subscriber, maybe it's getting a new advertiser to come on board or selling a trend subscription.
40:16
every team, every company has something in their some event that happens in their company that they celebrate. For the hospital, it might be getting an email subscriber, maybe it's getting a new advertiser to come on board or selling a trend subscription.
40:27
And,
40:27
And,
40:29
Like, wouldn't it be great if there was just a sound? Right? The old kind of like and in most offices, there's like a gong. Yeah. I bet you guys had a gong or your sales line. Yeah. You have a gong. You have a gong. You want literally, you go you make a sale, you stand up, you walk to the gong, you can't grab the thing and you hit it, and everybody knows, boom. The good thing has happened.
40:29
Like, wouldn't it be great if there was just a sound? Right? The old kind of like and in most offices, there's like a gong. Yeah. I bet you guys had a gong or your sales line. Yeah. You have a gong. You have a gong. You want literally, you go you make a sale, you stand up, you walk to the gong, you can't grab the thing and you hit it, and everybody knows, boom. The good thing has happened.
40:45
And in our office, we used to manually wire this up. We we built a charity product. And every time somebody donated, it would go cha ching on the, like, speakers in the office. And you would do that until it gets too annoying,
40:45
And in our office, we used to manually wire this up. We we built a charity product. And every time somebody donated, it would go cha ching on the, like, speakers in the office. And you would do that until it gets too annoying,
40:56
and then you kinda turn it off.
40:56
and then you kinda turn it off.
40:58
If it if it gets, like, too frequent. And so I really like this idea of basically taking any service you have, maybe it's Stripe, maybe it's your email list, maybe it's, your, your,
40:58
If it if it gets, like, too frequent. And so I really like this idea of basically taking any service you have, maybe it's Stripe, maybe it's your email list, maybe it's, your, your,
41:08
your bank account, whatever. And,
41:08
your bank account, whatever.
41:10
And,
41:11
And anytime the good, you just basically create these formulas, you say, if this good thing happens, play this sound, play it on my phone as I come essentially like a ring tone,
41:11
And anytime the good, you just basically create these formulas, you say, if this good thing happens, play this sound, play it on my phone as I come essentially like a ring tone,
41:20
and, you know, or play it on my Sono speakers or whatever in in my office. And so
41:20
and, you know, or play it on my Sono speakers or whatever in in my office. And so
41:25
the cool thing that you could do with this is I think that's a pretty simple problem. And I think people would like they'll be able to hook it up. But it actually gets pretty sophisticated because you can't what you can't do is you can't say, like,
41:25
the cool thing that you could do with this is I think that's a pretty simple problem. And I think people would like they'll be able to hook it up. But it actually gets pretty sophisticated because you can't what you can't do is you can't say, like,
41:35
hey, you know what? At the beginning, notify me about everything, and then it gets more mature, what you really want is to say, Hey, when we get if we hit a hundred subscribers today, play that sound. I wanna know when we hit a hundred for the Right? Because every one now is too annoying. It's too frequent. So let me set this better rule. So there's nothing that lets you set those rules. So I think there's a very simple company to build here. That Zapier for sounds, that could be a SaaS company that, you know, I think it could do a few million dollars a year, but maybe it's more like Zapier. Maybe this is a bigger problem than I would have otherwise expected. And could get into the tens of millions or even a hundred million dollars of revenue. Just celebrations
41:35
hey, you know what? At the beginning, notify me about everything, and then it gets more mature, what you really want is to say, hey, when we get if we hit a hundred subscribers today,
41:44
play that sound. I wanna know when we hit a hundred for the Right? Because every one now is too annoying. It's too frequent. So let me set this better rule. So there's nothing that lets you set those rules. So I think there's a very simple company to build here. That Zapier for sounds, that could be a SaaS company that, you know, I think it could do a few million dollars a year, but maybe it's more like Zapier. Maybe this is a bigger problem than I would have otherwise expected. And could get into the tens of millions or even a hundred million dollars of revenue. Just celebrations
42:09
as a service. What do you think? Alright. What my reply is gonna sound like a tangent, but it's not So, again, I'm on this Edison kick. I'm reading all about him. And in the biography, when he created the phonograph, so, basically, a record player, people are like, Why are you wasting your time on this stupid toy? Like, this is not interesting. This is not gonna help anyone. This is so dumb. This looks junky.
42:09
as a service. What do you think? Alright. What my reply is gonna sound like a tangent, but it's not So, again, I'm on this Edison kick. I'm reading all about him. And in the biography, when he created the phonograph, so, basically, a record player, people are like, Why are you wasting your time on this stupid toy? Like, this is not interesting. This is not gonna help anyone. This is so dumb. This looks junky.
42:30
And, obviously, it wasn't. Right? It changed the world. And, it was the first time that anyone had ever heard
42:30
And, obviously, it wasn't, right, it changed the world. And, it was the first time that anyone had ever heard
42:37
someone's voice before besides, you know, just talking.
42:37
someone's voice before besides, you know, just talking.
42:40
And
42:40
And
42:41
a lot of really cool ideas that
42:41
a lot of really cool ideas that
42:44
great people have or or ideas that turn out to be amazing, whether it's Airbnb or Uber. They sound like these stupid dumb things. You're actually particularly good at finding things that are toys or silly on the surface
42:44
great people have or or ideas that turn out to be amazing, whether it's Airbnb or Uber. They sound like these stupid dumb things. You're actually particularly good at finding things that are toys or silly on the surface
42:57
and making the case for why this can actually be huge and big. And you're because you kinda default to optimism. What is your default to optimism on how this could be big? Because my default is This is such a silly.
42:57
and making the case for why this can actually be huge and big. And you're because you kinda default to optimism. What is your default to optimism on how this could be big? Because my default is This is such a silly.
43:08
I I'm I'm I recognize that I default to that, but I and although I'm trying not to, my default is this is just a what, like, what that's such a small silly thing. Tell me everything.
43:09
I'm I'm I recognize that I default to that, but I and although I'm trying not to, my default is this is just a what, like, what that's such a small silly thing. Tell me everything.
43:18
Yeah, I think it probably is a small silly thing, but I like things that
43:18
Yeah, I think it probably is a small silly thing, but I like things that
43:22
for sure can win at the small scale. And there's a, hey, who knows, path that you can go down? Because I think most things
43:22
for sure can win at the small scale. And there's a, hey, who knows, path that you can go down? Because I think most things
43:29
that end up quite big,
43:29
that end up quite big, they typically will start
43:31
they typically will start with what looks like a kind of humble humble level of ambition, right, Facebook. It's a college network for Harvard.
43:32
with what looks like a kind of humble humble level of ambition, right, Facebook. It's a college network for Harvard.
43:39
And then, oh, maybe it's a it's a social network for all colleges.
43:39
And then, oh, maybe it's a it's a social network for all colleges.
43:43
And then it becomes now, you know, they literally just are building this, like,
43:43
And then it becomes now, you know, they literally just are building this, like,
43:47
internet pipe in Africa to basically bring bring internet to more people Africa so more people can use Facebook. Right? Like, their ambition
43:47
internet pipe in Africa to basically bring bring internet to more people Africa so more people can use Facebook. Right? Like, their ambition
43:54
was progressively growing. There's interviews of Zach early on when they're like, oh, are you gonna expand to high schools? He's like, no. I don't know. I mean, like, does it have to? It could just be a cool college thing. Right? That was Zuck then, and Zuck now is, like, you know, let me take over the the the universe. And so I think I like ideas like this that that will start small. The thing that gives me hope that this might be big bigger than you think is
43:54
was progressively growing. There's interviews of Zach early on when they're like, oh, are you gonna expand to high schools? He's like, no. I don't know. I mean, like, does it have to? It could just be a cool college thing. Right? That was Zuck then, and Zuck now is, like, you know, let me take over the the the universe. And so I think I like ideas like this that that will start small. The thing that gives me hope that this might be big bigger than you think is
44:16
every single company I know
44:16
every single company I know
44:18
wants to celebrate their wins and morale goes up when you celebrate your wins. And so if you can come up with simpler ways to, to celebrate progress. I think it'll make happier companies, and I think that managers will want that,
44:18
wants to celebrate their wins and morale goes up when you celebrate your wins. And so if you can come up with simpler ways
44:25
to, to celebrate progress. I think it'll make happier companies, and I think that managers will want that,
44:32
want that option or want to be able to configure that option so that,
44:32
want that option or want to be able to configure that option so that,
44:37
yeah, everybody feels a sense of progress. Everybody feels a sense of, of a boost
44:37
yeah, everybody feels a sense of progress. Everybody feels a sense of, of a boost
44:41
as, you know, like you used to say, every email where a pirate ship and every email subscriber is a little bit of wind in our in our sales. Right? So how do you make it actually feel like that versus just
44:41
as, you know, like you used to say, every email where a pirate ship and every email subscriber is a little bit of wind in our in our sales. Right? So how do you make it actually feel like that versus just
44:51
sitting in every day in the office and only focusing on all the problems and all the things that are broken. I actually think that, there's a a great lesson here I didn't used to think about this way when I was a little bit younger and now I'm I'm changing.
44:51
sitting in every day in the office and only focusing on all the problems and all the things that are broken. I actually think that, there's a a great lesson here
44:59
I didn't used to think about this way when I was a little bit younger and now I'm I'm changing,
45:03
but
45:03
But
45:05
I remember when I first started creating stuff. And I see a lot of people who are early in their career of creating stuff. They think, like,
45:05
I remember when I first started creating stuff. And I see a lot of people who are early in their career of creating stuff. They think, like,
45:11
the market's, like, too saturated. Like, no one buys courses or,
45:11
the market's, like, too saturated. Like, no one buys courses or
45:17
you know, there's already, like,
45:17
you know, there's already, like,
45:19
no one clicks ads.
45:19
no one clicks ads.
45:21
But what you actually just did was interesting is you looked at the macro, like, the the high level, like, human beings
45:21
But what you actually just did was interesting is you looked at the macro, like, the the high level, like, human beings
45:28
do want this. So you so the way that you just described it, you goes, you go, everyone I know, all companies wanna celebrate
45:28
do want this. So you so the way that you just described it, you goes, you go, everyone I know, all companies wanna celebrate
45:36
a win. Like, we all know celebrating a win is first, ver is great. We also know that a lot of them celebrate a win with a sound.
45:36
a win. Like, we all know celebrating a win is first, but is great. We also know that a lot of them celebrate a win with a sound.
45:44
Therefore,
45:44
Therefore,
45:45
it actually is plausible that this could be interesting.
45:45
it actually is plausible that this could be interesting.
45:48
And I think that that's far more productive and helpful
45:48
And I think that that's far more productive and helpful
45:51
than starting the other way around. So, for example,
45:51
than starting the other way around. So for example,
45:54
I would justify a course. Like, we all know that people wanna learn how to do this. And we also know that a lot of people buy stuff. So, like, it's pretty justifiable that if I execute, well, people will buy this. And that's, like, an easy way to, like, back yourself into, like, of course, this can succeed. It can succeed a lot. I don't know. But And I think that that's actually a really interesting way that you tend to look at things.
45:54
I would justify a course. Like, we all know that people wanna learn how to do this. And we also know that a lot of people buy stuff. So, like, it's pretty justifiable that if I execute, well, people will buy this. And that's, like, an easy way to, like, back yourself into, like, of course, this can succeed. It can succeed a lot. I don't know. But And I think that that's actually a really interesting way that you tend to look at things.
46:14
And that's cool. That's cool. Alright. Let's do one more,
46:14
And that's cool. That's cool. Alright. Let's do one more,
46:17
more idea right now? Do you have one or you want me to do one? I could tell you one. And,
46:17
more idea right now? Do you have one or you want me to do one? I could tell you one. And,
46:22
I don't wanna make this all about stuff that I'm investing in, but So I I will disclose. I am an investor in this, but I actually am not entirely sold on the idea. I'll say that. So click that website. Steak dot rent. K. I'm on it. So let me just tell you what I see. First reaction, it says
46:22
I don't wanna make this all about stuff that I'm investing in, but So I I will disclose. I am an investor in this, but I actually am not entirely sold on the idea. I'll say that. So click that website. Steak dot rent. K. I'm on it. So let me just tell you what I see. First reaction, it says
46:37
cashback for rentals is here. Pay your rent and get cashback at a home or office that offers steak. Okay. So what does that mean? Okay. So there's this guy. I don't even know his name. I barely talked to him, but he created the rewards program for Amex and a couple other airlines.
46:37
cashback for rentals is here. Pay your rent and get cashback at a home or office that offers steak. Okay. So what does that mean? Okay. So there's this guy. I don't even know his name. I barely talked to him, but he created the rewards program for Amex and a couple other airlines.
46:54
And so these reward programs, they give you stuff in order to make you happier, so you wanna stay with Amex. So,
46:54
And so these reward programs, they give you stuff in order to make you happier, so you wanna stay with Amex. So,
47:00
discounts to stuff,
47:00
discounts to stuff,
47:02
to in order to, you know, when you sign up for Amex, you you get discount for movie tickets or on your insurance.
47:02
to in order to, you know, when you sign up for Amex, you you get discount for movie tickets or on your insurance.
47:08
And so he was thinking and this guy had knows nothing about real estate. I don't I don't think so.
47:08
And so he was thinking and this guy had knows nothing about real estate. I don't I don't think so.
47:12
And he was like, we should do actually do this for you think about it, a lot of actually renters or or landlords actually do this. So they say I'm gonna give you a month's free or two months free. Have you seen signs for that? Yeah. It's especially to start your lease. Yeah. Yeah. So it's very common. So they're already doing that. And he was like, you know, if you give someone one month free, that's eight point three percent of annual rents that you're giving someone a year. Right. If instead,
47:12
And he was like, we should do actually do this for you think about it, a lot of actually renters or or landlords actually do this. So they say I'm gonna give you a month's free or two months free. Have you seen signs for that? Yeah. It's especially to start your lease. Yeah. Yeah. So it's very common. So they're already doing that. And he was like, you know, if you give someone one month free, that's eight point three percent of annual rents that you're giving someone a year. Right. If instead,
47:36
you made it so you get three or four or five percent cash back every month you pay your rent on time, that's actually kind of an interesting way to build loyalty amongst the renter and in it's like a smaller, you know, it's like a gold star. Like, sometimes Sean might be happier if I give him a gold star versus, like, giving him a hundred dollars. Right. You know what I mean? Okay. That's interesting. And so the math I mean, three percent every month would add up to more than eight for the year. So how does the math work? Is it like more like
47:36
you made it so you get three or four or five percent cash back every month you pay your rent on time, that's actually kind of an interesting way to build loyalty amongst the renter and in it's like a smaller, you know, it's like a gold star. Like, sometimes Sean might be happier if I give him a gold star versus, like, giving him a hundred dollars. Right. You know what I mean? Okay. That's interesting. And so the math I mean, three percent every month would add up to more than eight for the year. So how does the math work? Is it like more like
48:04
one percent cash back basically or what? Yeah.
48:04
one percent cash back basically or what? Yeah.
48:07
It's a smaller fee. I I don't know what the what the exact fee, but you it's usually less than it's, like, less than six percent a year.
48:07
It's a smaller fee. I I don't know what the what the exact fee, but you it's usually less than it's, like, less than six percent a year.
48:14
And so it's something like twenty dollars a month. But it and they get that money if they pay the rent on time. And they're basically they're proving to the landlord. Hey, look, if I give if I help your renter if I if your renter feels like I'm getting a bonus for paying my rent on time every month,
48:14
And so it's something like twenty dollars a month. But it and they get that money if they pay the rent on time. And they're basically they're proving to the landlord. Hey, look, if I give if I help your renter if I if your renter feels like I'm getting a bonus for paying my rent on time every month,
48:30
I will lower the the I will lower your your sort of default and your, late payments,
48:30
I will lower the the I will lower your your sort of default and your, late payments,
48:36
on rent by experts. I just a little bit. Show that. Yeah. If they can show that one behavior,
48:36
on rent by experts. I just show that. Yeah. If they can show that one behavior,
48:40
then they can go to every landlord and say the same thing. That's the idea.
48:40
then they can go to every landlord and say the same thing. That's the idea.
48:44
Exactly. And I thought that was kind of interesting. And the reason why I thought was interesting is there's actually a few things. I don't I don't care about the state dot rent, whatever, who who cares. What there's a few things interesting here. One, what I like is a guy with no experience in real estate, but experience with human behavior being loyalty and looking at different places to apply that. That intrigues me.
48:44
Exactly. And I thought that was kind of interesting. And the reason why I thought was interesting is there's actually a few things. I don't I don't care about the state dot rent, whatever, who who cares. What there's a few things interesting here. One, what I like is a guy with no experience in real estate, but experience with human behavior being loyalty and looking at different places to apply that. That intrigues me.
49:06
I lost my train of thought, but but that's really interesting to me. Oh, and the second thing is when I heard this idea, I'm like, well, this is like
49:06
I lost my train of thought, but but that's really interesting to me. Oh, and the second thing is when I heard this idea, I'm like, well, this is like
49:13
this doesn't seem like a groundbreaking idea. Like, this seems shockingly obvious and easy to pull off. Why isn't anyone doing this? Part of me was like, well, if no one's doing it, there's a reason why no one has done it. Right?
49:13
this doesn't seem like a groundbreaking idea. Like, this seems shockingly obvious and easy to pull off. Why isn't anyone doing this? Part of me was like, well, if no one's doing it, there's a reason why no one has done it. Right?
49:24
Yeah. Like, that's one side of things. The other side of things is, like, maybe there's isn't the right outsider. So I thought this was, like, an interesting idea. Do you think that this this can work?
49:24
Yeah. Like, that's one side of things. The other side of things is, like, maybe there's isn't the right outsider. So I thought this was, like, an interesting idea. Do you think that this this can work?
49:32
Yeah. I think this could work. I don't I I think it's hard because
49:32
Yeah. I think this could work. I don't I I think it's hard because
49:36
if you
49:36
if you
49:37
it depends on your worldview. Like, the first time I heard about,
49:37
it depends on your worldview. Like, the first time I heard about,
49:41
What's it called layaway? You know, you know, about layaway?
49:41
What's it called layaway? You know, you know, about layaway?
49:44
And this I mean, the and it doesn't really exist much anymore, but yeah. I sound like privileged. I think exist. I think it exists in a big way still. So I think at, like,
49:44
And this I mean, the and it doesn't really exist much anymore, but yeah. I sound like privileged. I think exist. I think it exists in a big way still. So I think at, like,
49:52
you know, I think it was more popular years and years and years when I my dad used to tell me all the time when he was a kid, he would do layaway. Right. So so basically
49:52
you know, I think it was more popular years and years and years when I my dad used to tell me all the time when he was a kid, he would do layaway. Right. So so basically
50:00
layaway, I I didn't know about this, but basically, let's say you go to a Walmart
50:00
layaway, I I didn't know about this, but basically, let's say you go to a Walmart
50:04
and,
50:05
and,
50:06
you go to Walmart, you wanna buy something. You don't want you don't have the money to pay the whole thing. You basically say, I wanna put this on layaway, and you're it's What I thought wasn't gonna happen is it's more like those, you know, buy now pay later type of things where it's like,
50:06
you go to Walmart, you wanna buy something. You don't want you don't have the money to pay the whole thing. You basically say, I wanna put this on layaway, and you're it's What I thought wasn't gonna happen is it's more like those, you know, buy now pay later type of things where it's like,
50:21
yeah, like, it's like a firm or something like that where you you buy the thing and instead of paying the whole hundred dollars upfront, you make four payments of twenty five bucks. And you you pay it over time, but you get your thing from day one. With layaway from what I understand is the exact opposite layaway, you just put the thing on hold there. And then you come back every month and start making your payments until you own the thing. So it's like kind of like
50:21
yeah, like, it's like a firm or something like that where you you buy the thing and instead of paying the whole hundred dollars upfront, you make four payments of twenty five bucks. And you you pay it over time, but you get your thing from day one. With layaway, from what I understand, it's the exact opposite. Layaway, you just put the thing on hold there. And then you come back every month and start making your payments until you own the thing. So it's like kind of like
50:43
it's like doing a chore in a way. Right? It's like it's like telling your parent, hey, if, like, I will I will work hard for four straight months in order to get this thing. And so this is apparently, like, a very big I should've looked this up. I I didn't know where we're gonna talk about it, but
50:43
it's like doing a chore in a way. Right? It's like it's like telling your parent, hey, if, like, I will I will work hard for four straight months in order to get this thing. And so this is apparently, like, a very big I should've looked this up. I I didn't know where we're gonna talk about it, but
50:56
layaway is actually, like, a pretty huge part of, like, the economy, especially in in in, like, kind of, like, lower end retail, like, Walmarts and stuff. And so,
50:56
layaway is actually, like, a pretty huge part of, like, the economy, especially in in in, like, kind of, like, lower end retail, like, Walmarts and stuff. And so,
51:06
so I thought that was kind of interesting and and it got me thinking about, like, all these little, like,
51:06
so I thought that was kind of interesting and and it got me thinking about, like, all these little, like,
51:12
incentive structures around paying for things. So what you're talking about is incentive structure for, rent. There's other incentives around rent. Like, I don't know if you've seen have you seen rhino It's like a rent service. Basically,
51:12
incentive structures around paying for things. So what you're talking about is incentive structure for, rent. There's other incentives around rent. Like, I don't know if you've seen have you seen rhino It's like a rent service. Basically,
51:23
you pay your rent and you build your credit by paying your rent on credit. I love those. I I, I wanted to do one of it. So say rhino dot com. I wanted to use one of them because for years, my credit was only okay because I didn't have credit, but I'm like, it's bullshit that your rent doesn't count as credit.
51:23
you pay your rent and you build your credit by paying your rent on credit. I love those. I I, I wanted to do one of it. So say rhino dot com. I wanted to use one of them because for years, my credit was only okay because I didn't have credit, but I'm like, it's bullshit that your rent doesn't count as credit.
51:40
Yeah. So so I don't even know if that's what Rhino does, but some people do that. Then then what Rhino is doing is they're basically, like, they looked at when most people, when you go rent a place, you put the first or the first and second rent down as a deposit.
51:40
Yeah. So so I don't even know if that's what Rhino does, but some people do that. Then then what Rhino is doing is they're basically, like, they looked at what most people, when you go rent a place, you put the first or the first and second month rent down as a deposit.
51:50
And they're like, dude, that means there's, like, x hundreds of millions or billions of dollars
51:50
And they're like, dude, that means there's, like, x hundreds of millions or billions of dollars
51:55
that are just deposits that are just locked away. And so,
51:55
that are just deposits that are just locked away. And so,
52:00
and so in so basically what they created, I think, was like an insurance product that said, hey,
52:00
and so in so basically what they created, I think, was like an insurance product that said, hey,
52:05
you don't have to pay you don't have to pay your You don't have to put a thousand dollars down as your deposit.
52:05
you don't have to pay you don't have to pay your You don't have to put a thousand dollars down as your deposit.
52:10
Instead, you pay five dollars a month as an insurance policy. And we will We will cover the landlord if the deposit ever kicks in, and you get to keep your money instead of putting down thousands of dollars as a deposit and having that dead money just locked away for a while. And I thought that was a I think that's what Rhino does now. But there's all these, like, interesting things around either real estate incentives.
52:10
Instead, you pay five dollars a month as an insurance policy. And we will We will cover the landlord if the deposit ever kicks in, and you get to keep your money instead of putting down thousands of dollars as a deposit and having that dead money just locked away for a while. And I thought that was a I think that's what Rhino does now. But there's all these, like, interesting things around either real estate incentives.
52:31
Another one, I wanna tell you about
52:31
Another one, I wanna tell you about
52:34
is smile dot I o. Have you ever seen this? Probably not.
52:34
is smile dot I o. Have you ever seen this? Probably not.
52:37
It's more of an e commerce thing, but I'm right now, I'm in the process of designing, like, a loyalty program. And, so when you when you said this thing about the guy who did it for Amex, that's interesting. So I was just researching Amex as loyalty. Like, the psychology of these programs
52:37
It's more of an e commerce thing, but I'm right now, I'm in the process of designing, like, a loyalty program. And, so when you when you said this thing about the guy who did it for Amex, that's interesting. So I was just researching Amex as loyalty. Like, the psychology of these programs
52:51
Let me let me read it. So smile dot I o, turn your hard earned sales into repeat customers. Maximize your customer acquisition efforts and turn transactional sales into passionate brand advocates. I don't really know what that means. I have to explain it. So so do this instead. Go to this website
52:51
Let me let me read it. So smile dot I o, turn your hard earned sales into repeat customers. Maximize your customer acquisition efforts and turn transactional sales into passionate brand advocates. I don't really know what that means. I have to explain it. So do this instead. Go to this website
53:06
and just look at the bottom left where it says,
53:06
and just look at the bottom left where it says,
53:10
where it says give ten, give ten give ten percent, get ten dollars.
53:10
where it says give ten, give ten give ten percent, get ten dollars.
53:13
Well, I see three for forty.
53:13
Well, I see three for forty.
53:16
At the bottom left, See, there's a little pop up that says, get ten, get ten. So in this is two things. So this is powered by smile dot io. So basically, what smile dot io is they're going to e commerce stores and they say, hey, You should have a loyalty program. You should have a referral program just like Starbucks and Amex and these companies that spend millions of dollars and thousands of hours fine tuning and designing this thing, we'll just make it like a Shopify app for you. And so what does the Shopify app do? So basically, you go on and it's like, want a referral program, cool. Here's the thing that will be on your site. So any customer who comes in, they know that if I share this with a friend, I get a discount, and they get a discount. So create a two way reward system. The second thing is if you scroll down, there's like a little, like, points program. In this case, it's called bubbles.
53:16
At the bottom left, See, there's a little pop up that says, get ten, get ten. So in this is two things. So this is powered by smile dot io. So, basically, what smile dot io is they're going to e commerce stores, and they say, hey, You should have a loyalty program. You should have a referral program just like Starbucks and Amex and these companies that spend millions of dollars and thousands of hours fine tuning and designing this thing, we'll just make it like a Shopify app for you. And so what does the Shopify app do? So basically, you go on and it's like, want a referral program, cool. Here's the thing that will be on your site. So any customer who comes in, they know that if I share this with a friend, I get a discount, and they get a discount. So create a two way reward system. The second thing is if you scroll down, there's like a little, like, points program. In this case, it's called bubbles.
53:59
But a but a the points program basically says, here's how you earn points.
53:59
But a but a the points program basically says, here's how you earn points.
54:04
You follow us on Instagram. You like our stuff. You buy you for every dollar you spend in the store, you get five points.
54:04
You follow us on Instagram. You like our stuff. You buy you for every dollar you spend in the store, you get five points.
54:10
Tell your birthday. Well, if you if you create a birthday, we'll give you five hundred points.
54:10
Tell your birthday. Well, if you if you create a birthday, we'll give you five hundred points.
54:14
Write a review, you get two hundred points. So they incentivize all these behaviors that you know leads to a stickier customer. And in doing so, they get points that they can redeem for free shit in the store, like store credit, basically. And so all of that, like, reward system magic just make available and easy for any e commerce store. Right? So then it sounds a bit like an infomercial, but the really that I don't I have no skin in the game here. I just think it's a sick product, but I love the idea of basically
54:14
Write a review, you get two hundred points. So they incentivize all these behaviors that you know leads to a stickier customer. And in doing so, they get points that they can redeem for free shit in the store, like store credit, basically. And so all of that, like, reward system magic just make available and easy for any e commerce store. Right? So then it sounds a bit like an infomercial, but the really that I don't I have no skin in the game here. I just think it's a sick product, but I love the idea of basically
54:40
taking, like, what the big brands do and what the big brands have spent millions of dollars developing for themselves.
54:40
taking, like, what the big brands do and what the big brands have spent millions of dollars developing for themselves.
54:47
And then just turning that into an app that any little mom and pop can just plug into their store and have that same user experience.
54:47
And then just turning that into an app that any little mom and pop can just plug into their store and have that same user experience.
54:53
And so, I've I've seen this as a trend as a business, like, kinda like model blueprint.
54:53
And so, I've I've seen this as a trend as a business, like, kinda like model blueprint.
54:58
I told you about that company I invested in Joe Coffee. They did the same thing. They took the Starbucks mobile app, which was, like, super slick, made it easy to order on your phone. You earn stars for everything that you buy, and they basically give any mom and pop coffee shop.
54:58
I told you about that company I invested in Joe Coffee. They did the same thing. They took the Starbucks mobile app, which was, like, super slick, made it easy to order on your phone. You earn stars for everything that you buy, and they basically give any mom and pop coffee shop.
55:13
A white labeled version of that same app called Joe Coffee. And so now you can have order ahead. You can have loyalty points. You can have push notification, marketing,
55:13
A white labeled version of that same app called Joe Coffee. And so now you can have order ahead. You can have loyalty points. You can have push notification, marketing,
55:22
You have all the things that Starbucks put, like, probably
55:22
You have all the things that Starbucks put, like, probably
55:25
tens of millions of dollars into building. They just made for and they said, good. We're gonna arm the rebels. We're gonna give this to
55:25
tens of millions of dollars into building. They just made for and they said, good. We're gonna arm the rebels. We're gonna give this to
55:31
all of the indie indie coffee shops instead of just what just Starbucks having it because they can afford the r and d. This is sick. I
55:31
all of the indie indie coffee shops instead of just what just Starbucks having it because they can afford the r and d. This is sick. I
55:39
Yeah. This is sick. I'm looking at it now.
55:39
Yeah. This is sick. I'm looking at it now.
55:42
I does this work? Have you implemented this? Like, when I see these
55:43
Does this work? Have you implemented this? Like, when I see these
55:47
rewards programs or or things like that. Like, when I go to a lot of ecomm sites,
55:47
rewards programs or or things like that. Like, when I go to a lot of ecomm sites,
55:52
there's, like, a wheel that you spin. If you enter in your email, you get something. Like, there's all these, like, tricks. And We we put we went from normal and pretty looking thing that says, hey, you know, give us your email for a discount code. To the wheel, it tripled conversion rate. Triple.
55:52
there's, like, a wheel that you spin. If you enter in your email, you get something. Like, there's all these, like, tricks. And We we put we went from normal and pretty looking thing that says, hey, you know, give us your email for a discount code. To the wheel, it tripled conversion rate. Triple.
56:08
So have you implemented this club tub, or that's their I just I just working on this last night to to implement it, but I'm, like, I'm figuring out what are the perks because you have to find the balance. Right? If you give too much value away and eat all your margins,
56:08
So have you implemented this club tub, or that's their I just I just working on this last night to to implement it, but I'm, like, I'm figuring out what are the perks because you have to find the balance. Right? If you give too much value away and eat all your margins,
56:22
And if you make it too shitty, then nobody's motivated to do anything. You wasted your time. You gotta find the sweet spot where it's, like,
56:22
And if you make it too shitty, then nobody's motivated to do anything. You wasted your time. You gotta find the sweet spot where it's, like,
56:29
compelling enough to them and it doesn't eat away your margins.
56:29
compelling enough to them and it doesn't eat away your margins.
56:32
And that's the sort of like that's the the art of this,
56:32
And that's the sort of like that's the the art of this,
56:36
of of doing it. But I love that I can do this without knowing how to code. I think that's kind of like
56:36
of of doing it. But I love that I can do this without knowing how to code. I think that's kind of like
56:41
you know, a a great business model, an idea. And so I would do that. If I wanted to, to think of other ideas like this, I would just go look at what do the top retailers like go to Starbucks. I go to Lululemon. I would go to, you know, whoever
56:41
you know, a a great business model, an idea. And so I would do that. If I wanted to, to think of other ideas like this, I would just go look at what do the top retailers like go to Starbucks. I go to Lululemon. I would go to, you know, whoever
56:54
Macy's,
56:54
Macy's,
56:55
Nordstrom. And I would walk around, I would use their online shop, and I would walk around their store, and I would say, What have they built that's custom and awesome for them? And then how can I make the white labeled version of that and offer it to every other retailer that's competing with them? There's this,
56:55
Nordstrom. And I would walk around, I would use their online shop, and I would walk around their store, and I would say, What have they built that's custom and awesome for them? And then how can I make the white labeled version of that and offer it to every other retailer that's competing with them? There's this,
57:09
great thing I wanna bring up. Basically,
57:09
great thing I wanna bring up. Basically,
57:12
I don't know where I heard about it, but at Facebook, Shamath, or someone early on, discovered that there's, like, the magic number of seven.
57:12
I don't know where I heard about it, but at Facebook, Shamath, or someone early on discovered that there's, like, the magic number of seven.
57:20
Basically,
57:20
Basically,
57:21
if you create a Facebook account we need you to add seven friends right away. And if you add seven friends, you're likely to become a Facebook user forever or for a long period. You know what I'm talking about? Yes. Basically, they they said the a moment, meaning, uh-uh,
57:21
if you create a Facebook account we need you to add seven friends right away. And if you add seven friends, you're likely to become a Facebook user forever or for a long period. You know what I'm talking about? Yes. Basically, they they said the a moment, meaning, uh-uh,
57:35
a moment when we talk about in product building is just like
57:35
a moment when we talk about in product building is just like
57:39
a user comes to your site. They don't know what the fuck going on. They're kinda confused. They're trying to sign up. And finally, there's an a moment where they get actual value from the product. They're like, oh,
57:39
a user comes to your site. They don't know what the fuck going on. They're kinda confused. They're trying to sign up. And finally, there's an a moment where they get actual value from the product. They're like, oh,
57:48
you know, like, if I go to mint dot com, the a moment is seeing all my financials,
57:48
you know, like, if I go to mint dot com, the aha moment is seeing all my financials,
57:52
you know, like, laid out in front of me in my budget in my pie chart. Oh, wow. Automatically. That's the a moment for mint. Gotta do a whole bunch of shit, connect a whole bunch of bank accounts and credit cards to get to that. But when you're there, you're sticky. For Facebook, what they found was seven friends in ten days. Was the aha moments. So once you saw seven different friends on your feed and if you could do that within ten days, you were like super super sticky. So at the hustle, we found I don't I don't remember the numbers off the top of my head, but we found, like, if you open five out of seven days right off in the first seven, five times the first seven, you're gonna be with us, and we're gonna call you a gold person. Right. And so, whatever.
57:52
you know, like laid out in front of me in my budget in my pie chart. Oh, wow. Automatically. That's the aha moment for mint. Gotta do a whole bunch of shit, connect a whole bunch of bank accounts and credit cards to get to that. But when you're there, you're sticky. For Facebook, what they found was seven friends in ten days. Was the aha moment. So once you saw seven different friends on your feed and if you could do that within ten days, you were like super super sticky. So at the hustle, we found I don't I don't remember the numbers off the top of my head, but we found, like, if you open five out of seven days right off in the first seven, five times the first seven, you're gonna be with us, and we're gonna call you a gold person. Right. And so, whatever.
58:26
And we have this new thing called snippets where we're trying to automate a lot of the email content and you sign up for the hustle and you tell us what type of news you care about and we automatically, like, give you a customized email.
58:26
And we have this new thing called snippets where we're trying to automate a lot of the email content and you sign up for the hustle and you tell us what type of news you care about and we automatically, like, give you a customized email.
58:36
And what we're seeing is that the people who fill that information in, and it's like a relatively long flow, they are, like,
58:36
And what we're seeing is that the people who fill that information in, and it's like a relatively long flow, they are, like,
58:42
three or four times more engaged than other people. Right. And a debate that I have,
58:42
three or four times more engaged than other people. Right. And a debate that I have,
58:48
and I'm bringing this back to what we're what we're talking about is that I actually think the question is, like, were those people more likely to become power users anyway and they are filling that out? Or are they becoming power users because they fill that out? And I would argue it was the second one. So, like, if someone's gonna give, what's this tub, whatever this would become, whatever we're talking about. Yeah. If the are they going to
58:48
and I'm bringing this back to what we're what we're talking about is that I actually think the question is, like, were those people more likely to become power users anyway and they are filling that out? Or are they becoming power users because they fill that out? And I would argue it was the second one. So, like, if someone's gonna give, what's this tub, whatever this would become, whatever we're talking about. Yeah. If the are they going to
59:10
become are they power users already? And so they're more likely to give you your email and like you on Instagram? I would actually say no. Because you are there going through this little small indoctrination process,
59:10
become are they power users already? And so they're more likely to give you your email and like you on Instagram? I would actually say no.
59:21
they are now becoming power users. It's like, what do you are you confident? Therefore, you're gonna flex your muscles or do you flex your and then become feel like you are confident. Right. Right. Right. And so I actually think that making users do this stuff,
59:33
you are turning them into power users.
59:36
Yeah. I I you know what I mean? It's true too. I think there's an element of both. I think that the people who are already powered users are gonna be like, oh my god. My favorite thing has more value I can go get. Like, let me go do it. And then there's a whole bunch of other people that are potential power users
59:48
if the circumstances were right. If they followed you, so then they would see your updates, if they gave you their email so that you could show them the new stuff blah blah blah, then then you're gonna get more,
59:59
you're gonna higher likelihood of turning that casual person into a hardcore person. And so I think I think both do happen.
01:00:05
Do you wanna save this? Do you wanna wrap up now and save some of the stuff for next week? Yeah. Actually, I just wanna say two more examples of the same trend. So,
01:00:14
the the the same trend, if you go and look at the hustle's emails,
01:00:18
you guys have at the bottom, like, a a survey thing. It's, like, where you're happy medium or sad from this email, you have an ambassador program. And a lot of those were, like, things you either you got off the shelf and modified or you just built homegrown.
01:00:31
And so if you're a newsletter if you're if you wanna build something for the newsletter industry, go look at what the hustle, go look at what, you know, Axios or what these guys are all using and be like, cool. How do I give every newsletter the ability to just have this feature without
01:00:46
without having to build it themselves because clearly it's working. And they're competing with groups like the hustle that are like years ahead have employees, have money to be able to spend on this type of stuff. Yeah. And we did have to build a lot of that, by the way. And it was horrible, and it breaks all the time. And, like, it's I would way of rather than people. A lot of people
01:01:05
who
01:01:05
there's this whole there's a large continuity of people who say, oh, let's build our own stuff. A lot of people who have been there done that will say the exact opposite, which is never build anything if you don't have to always use off the shelf. Right?
01:01:18
I fall into that category.
01:01:19
Yeah. And
01:01:20
I wish I I wish a lot of the stuff had existed. I'd rather pay a software fee than an engineer.
01:01:26
And you talked about this once you were talking about payroll software like, yeah, I'm in the media business and, like, the best sites have really good smart paywalls that convert. And then the rest of us are using this kinda, like, crappier version of that. Like, why don't we all let's just pretend and say the New York Times has the best paywall
01:01:42
flow that's causing highest conversion rates.
01:01:45
Somebody should take that and just say, Do you want the New York Times payroll on your site? Great. Here's New York Times Paywall as a service. An example another example in this trend is,
01:01:53
slice
01:01:56
So basically Domino's had the best
01:01:59
pizza ordering experience. It's like you would order the pizza on your phone, then it would show you the progress bar. It's like, oh, you know, like,
01:02:06
you know, John has put it in the oven.
01:02:10
Twenty minutes. Oh, it's out of the oven. We're just putting the toppings on top. Oh, it's in the car. It's almost near you. Hey. It's at your door. And so, like, you know, they spent a lot of money doing that because they're dominoes. They can afford that. And what slice did was slice went to every indie pop indie pizza shop it basically gave them an app that was the Domino's mobile ordering experience and say, hey, now you can compete against that. So let's just compete on the basis of whose pizza is the best rather than Well, they made it so easy and fun to order. And mine still is, like, call me and I'll write it down on a piece of paper.
01:02:39
And they became a a billion dollar company doing that in that space. So it's the same model that when you see three or four versions of these, that's the pattern recognition to say, okay. That's a that's a blueprint I can follow to get a a new business idea.
01:02:52
I agree. You may wanna wrap up there. Yeah. Let's wrap up this one and then,
01:02:56
yeah. Alright. We,
01:02:58
that's the episode.
01:03:00
Holler. Uh-huh.
01:03:05
Yeah. I feel like I could
01:03:07
I know I could be what I want to.
01:03:10
I put my all in it like the days off on a road. Let's travel never looking back.
00:00 01:03:17